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Money And Monetary Policy In The Eurozone: An Empirical Analysis During Crises, Jonathan Benchimol, André Fourçans 2016 Bank of Israel

Money And Monetary Policy In The Eurozone: An Empirical Analysis During Crises, Jonathan Benchimol, André Fourçans

Jonathan Benchimol

This paper analyses the role of money and monetary policy as well as the forecasting performance of New Keynesian dynamic stochastic general equilibrium (DSGE) models with and without separability between consumption and money. The study is conducted over three crisis periods in the Eurozone, namely, the ERM crisis, the Dot-com crisis and the Global Financial Crisis (GFC). The results of successive Bayesian estimations demonstrate that during these crises, the non-separable model generally provides better out of sample output forecasts than the baseline model. We also demonstrate that money shocks have some impact on output variations during crises, especially in the ...


The Travel Cost Model, George R. Parsons 2016 University of Delaware

The Travel Cost Model, George R. Parsons

George R. Parsons

Review chapter on travel cost model. This is an updated version of the 2003 chapter in the Primer on Nonmarket Valuation.


French Economic Stagnation, Karina Vasavada 2016 University of Puget Sound

French Economic Stagnation, Karina Vasavada

Economics Theses

This analysis explores the reasons behind French economic stagnation and discusses why this stagnant state is seemingly irrevocable. Based on a detailed look at the economic regime changes, market restructuring, and the resultant policy direction changes in France starting post-World War II, I contend that the reason for France’s current economic stagnation was their decision to join the EU, resulting in the shift away from dirigisme, a government interventionist economic approach, and toward a market oriented economy. While this assertion goes against the prevalent economic assumption that the market can efficiently govern itself, given the trajectory of the French ...


Delivering In Nairobi-And After, Andrea Spear, Mia Mikic 2016 United Nations ESCAP

Delivering In Nairobi-And After, Andrea Spear, Mia Mikic

Mia Mikic

Much hinges on the outcome of the World Trade Organization's Tenth Ministerial Conference in Nairobi in mid-December. The World Trade Organization (WTO) is marking the 20th anniversary of its establishment during the Uruguay Round, almost half a century after 23 countries set up its predecessor for trade in goods, the General Agreement on Tariffs and Trade (GATT). Yet the mood is far from celebratory. Admittedly, trade has not been helping the global economy much in recent times. The downbeat feeling, however, is more related to the question of the WTO's relevance, now and in future. The WTO was ...


The Political, Economic And Societal Challenges Encountered By Public School Systems In Developing Countries, Priyadarshani Joshi 2016 University of Pennsylvania

The Political, Economic And Societal Challenges Encountered By Public School Systems In Developing Countries, Priyadarshani Joshi

Priyadarshani Joshi

The paper analyzes the challenges and supports that mediate public schools’ ability to initiate reforms and productively respond to competition from private schools. An understanding of impediments can help policymakers better target their attention to the key bottlenecks and the most disadvantaged populations. I conduct a two-step mixed methods analysis. I first conduct qualitative analysis of interview data and descriptive statistics of principal perceptions to describe the barriers to reform that generally affect public schools more frequently than private schools. Then, I analyze whether the barriers (and supports) to reform can be systematically linked to the extent of privatization by ...


Workplace Deviance And Recession, Aniruddha Bagchi, Siddhartha Bandyopadhyay 2016 Kennesaw State University

Workplace Deviance And Recession, Aniruddha Bagchi, Siddhartha Bandyopadhyay

Aniruddha Bagchi

We examine the relationship between the incidence of workplace deviance (on-the-job crime) and the state of the economy. A worker's probability of future employment depends on whether she has been deviant as well as on the availability of jobs. Using a two period model we show that the net impact on deviant behavior to changes in unemployment can go either way depending upon the nature of the equilibrium. Two kinds of equilibria are possible. In one, a non-deviant's probability of being employed increases as expected market conditions improve which lowers the incentive to be a deviant. In contrast ...


Integrating Evaluative Thinking Into Organisational Practice: A Case Study Of Lutino Adunu In Uganda, Shilla Adyero 2016 SIT Graduate Institute

Integrating Evaluative Thinking Into Organisational Practice: A Case Study Of Lutino Adunu In Uganda, Shilla Adyero

Capstone Collection

Northern Uganda is still recovering from over two decades of civil war between the Government of Uganda and the Lord Resistance Army (LRA). The conflict created over 1.8 million Internally Displaced Persons (IDPs) who sought refuge in camps for 23 years. Around 80% of the affected population are mainly women and children. The displacement in the region caused large-scale loss of social and economic infrastructure, together with the productive resources. This contributed to the erosion of the social and financial capital of the affected areas population, forcing the population to depend on non-sustainable aid and relief services provided by ...


The Influence Of The Electric Supply Industry On Economic Growth In Less Developed Countries, Edward Richard Bee 2016 University of Southern Mississippi

The Influence Of The Electric Supply Industry On Economic Growth In Less Developed Countries, Edward Richard Bee

Dissertations

This study measures the impact that electrical outages have on manufacturing production in 135 less developed countries using stochastic frontier analysis and data from World Bank’s Investment Climate surveys. Outages of electricity, for firms with and without backup power sources, are the most frequently cited constraint on manufacturing growth in these surveys.

Outages are shown to reduce output below the production frontier by almost five percent in Africa and by a lower percentage in South Asia, Southeast Asia and the Middle East and North Africa. Production response to outages is quadratic in form. Outages also increase labor cost, reduce ...


Natural Disasters In Latin America: The Role Of Disaster Type And Productive Sector On The Urban-Rural Income Gap And Rural To Urban Migration, Madeline Alice Messick 2016 University of Southern Mississippi

Natural Disasters In Latin America: The Role Of Disaster Type And Productive Sector On The Urban-Rural Income Gap And Rural To Urban Migration, Madeline Alice Messick

Dissertations

This research provides insight into the impact of natural disasters as drivers of rural to urban migration in Latin America and the Caribbean (LAC). Disasters of varying types are predicted to have differing impacts on the productive sectors of agriculture, industry, and services; which due to the concentration of the various productive sectors in either urban or rural areas, subsequently changes the urban-rural wage differential. Changes to the wage differential (as measured by the urban-rural income gap) are predicted to lead to movement between urban and rural areas until a new equilibrium wage is reached.

This dissertation first identifies a ...


Can Capital-Energy Substitution Foster Economic Growth?, Itziar Lazkano, Linh Pham 2016 University of Wisconsin - Milwaukee

Can Capital-Energy Substitution Foster Economic Growth?, Itziar Lazkano, Linh Pham

Itzi Lazkano

This paper studies the ease of substitution between energy and other production inputs over time. We first develop a Solow growth model with energy where our general production function allows for a non-constant elasticity of substitution between production inputs. Our focus thus differs from previous work as we depart from the standard assumption of constant elasticity of substitution between production inputs. Our theoretical results show that the ease of substitution between capital and energy improves over time with energy intensity. We also find that the long-run growth rate directly depends on the speed at which the elasticity of substitution increases ...


Willingness To Pay For Electric Vehicles And Their Attributes, Michael K. Hidrue, George R. Parsons, Willett Kempton, Meryl Gardner 2016 Mississippi State University

Willingness To Pay For Electric Vehicles And Their Attributes, Michael K. Hidrue, George R. Parsons, Willett Kempton, Meryl Gardner

Meryl Gardner

This paper presents a stated preference study of electric vehicle choice using data from a national survey. In our choice experiment, 3029 respondents chose between their preferred gasoline vehicle and two electric versions of their preferred gasoline vehicle. Using the response data we valued five electric vehicle attributes: driving range, charging time, fuel cost saving, pollution reduction, and performance. Driving range, fuel savings, and charging time led in importance to respondents. Individuals were willing to pay (wtp) from $35 to $75 for a mile of added driving range, with incremental wtp per mile decreasing at higher distances. They were willing ...


System Dynamics Implementation Of A Model Of Population And Resource Dynamics With Adaptation, Takuro Uehara, Yoko Nagase, Wayne Wakeland 2016 Portland State University

System Dynamics Implementation Of A Model Of Population And Resource Dynamics With Adaptation, Takuro Uehara, Yoko Nagase, Wayne Wakeland

Wayne W. Wakeland

We build and analyze a dynamic ecological economic model that incorporates endogenous innovation on input substitutability. The use of the system dynamics method allows us to depart from conventional equilibrium thinking and conduct an out-of-equilibrium (adaptation) analysis. Simulation results show that while improvement in input substitutability will expand an economy, this change alone may not improve sustainability measured by indicators such as utility-per-capita and natural resource stock. It could, however, be possible that in combination with other technological progress, improvement in input substitutability will contribute to sustainable development. Sensitivity analysis also indicates a possible complication with the use of exogenous ...


Modeling Biomass Procurement Tradeoffs Within A Cellulosic Biofuel Cost Model, Alicia Rosburg, John Miranowski, Keri Jacobs 2016 University of Northern Iowa

Modeling Biomass Procurement Tradeoffs Within A Cellulosic Biofuel Cost Model, Alicia Rosburg, John Miranowski, Keri Jacobs

Keri Jacobs

We develop a long-run cellulosic biofuel cost model that minimizes feedstock procurement and processing costs per gallon. The distinguishing feature of the model is that it accounts for the procurement tradeoff between the intensive margin (biomass producers' participation rate) and extensive margin (biomass capture region). To investigate the extent to which this procurement trade-off affects processors' cost-minimizing decisions, we apply the model to switchgrass ethanol production in U.S. crop reporting districts. Results suggest that location characteristics will determine the extent to which processors can reduce their total procurement costs by offering a higher biomass price to increase participation near ...


Cellulosic Biofuel Potential Under Land Constraints: Locations, Plant Sizes And Feedstock Supply Costs, Alicia Rosburg, John Miranowski, Keri Jacobs 2016 University of Northern Iowa

Cellulosic Biofuel Potential Under Land Constraints: Locations, Plant Sizes And Feedstock Supply Costs, Alicia Rosburg, John Miranowski, Keri Jacobs

Keri Jacobs

We develop a long-run cost model for cellulosic biofuel production that accounts for locational differences in biomass production conditions. The cost model minimizes the per-gallon cost of biofuel when feedstock costs vary within local biomass-producing regions and plant size is determined by local feedstock supply and size economies. Applying the model, we estimate U.S. ethanol supply costs from both corn stover and switchgrass. Model results are used to identify the locations and specific plant sizes from which stover-and switchgrass-based ethanol would meet cellulosic biofuel targets at least cost.


The Relative Capital Structure Of Agricultural Grain And Supply Cooperatives And Investor Owned Firms [The Cooperative Capital Constraint Revisited], Ziran Li, Keri L. Jacobs, Georgeanne M. Artz 2016 Iowa State University

The Relative Capital Structure Of Agricultural Grain And Supply Cooperatives And Investor Owned Firms [The Cooperative Capital Constraint Revisited], Ziran Li, Keri L. Jacobs, Georgeanne M. Artz

Keri Jacobs

A recent set of articles in Choices identified some of the major issues facing agricultural cooperatives. Among these are the challenges related to identifying the financing activities and equity capital management strategies that will lead to growth and longevity of cooperatives (Barton, et al 2011). Like their investor-owned counterparts, cooperatives must be profitable and competitive in the markets they face. However, cooperatives face unique challenges in managing equity capital. Because they are limited in their access to outside investments and have nontradable stock, cooperatives rely on member-provided equity through voting shares and equity accumulation through the allocation of profits as ...


Policy Considerations Related To Further Intervention In The Farm Credit System, Neil E. Harl 2016 Iowa State University

Policy Considerations Related To Further Intervention In The Farm Credit System, Neil E. Harl

Neil Harl

The Farm Credit System Is a major participant in extending credit to and brokering losses from the agricultural sector during the current adjustment process. This article focuses on the problems faced by the system as a cooperative lender with relatively little diversity in its loan portfolio. Assistance to the system should be accompanied by organizational and structural changes that address the fundamental reasons for its vulnerability. Conditions suggest three basic choices: (1) preservation of the system in recognizable form, (2) decentralization to the district level, or (3) a shift toward a wholesaling function. One realistic alternative would involve a combination ...


The Structural Transformation Of The Agricultural Sector, Neil E. Harl 2016 Iowa State University

The Structural Transformation Of The Agricultural Sector, Neil E. Harl

Neil Harl

A major concern as we move into the Twenty-first Century is the structure of the agricultural sector. By structure, is meant considerations of size and scale as well as who is to manage, control and finance farming and agribusiness operations.


No Really, (Crowd) Work Is The Silver Bullet, Andrew Schriner, Daniel B. Oerther 2016 Missouri University of Science and Technology

No Really, (Crowd) Work Is The Silver Bullet, Andrew Schriner, Daniel B. Oerther

Daniel B. Oerther

Humanitarian assistance has been on the global conscience for approximately 70 years (since WWII), and yet in 2010 2.4 billion people still lived on less than $2 per day. as Easterly has pointed out: to see where we went wrong, just look at the incentives. to create true sustainable economic change requires realignment of incentives, particularly the incentive to work and invest. Employment is fundamentally required, and crowd work is the current best hope for providing that employment quickly, with global reach, and at scale. This approach is grassroots, bottom-up, and puts the income directly in the hands of ...


Class Distinctions For The Global Economy, Aaron W. Hughey 2016 Western Kentucky University

Class Distinctions For The Global Economy, Aaron W. Hughey

Aaron Hughey

No abstract provided.


Forging A University Research Mission, Joshua L. Rosenbloom 2016 Iowa State University

Forging A University Research Mission, Joshua L. Rosenbloom

Joshua L. Rosenbloom

The university exists to accommodate and implement the whole human learning process, and this must include creative scholarship and research. Thus research is not an optional activity of the university, not merely a legitimate pursuit of those who may be interested and willing to dedicate their spare time, nor an assignment justified to either the university or the professor by the resultant income in dollars and publicity. Rather, research is an inescapable responsibility of the university and an inseparable part of its total educational function. "The Place of Research in the University"


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