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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 ...


Monotone Strategyproofness, 2016 Selected Works

Monotone Strategyproofness

Hanna Halaburda

We propose a way to compare the extent of preference misrepresentation between two strategies. We define a mechanism to be monotone strategyproof when declaring a ``more truthful" preference ordering in the mechanism dominates--with respect to the true preferences--declaring a less truthful preference ordering. Our main result states that a mechanism is strategyproof if, and only if, it is monotone strategyproof. This result holds for any deterministic social choice function on any domain; for probabilistic social choice functions it holds under a mild assumption on the domain.


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 ...


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 ...


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 ...


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 ...


Is China Building Africa?, Zhengli Huang, Xiangming Chen 2016 Trinity College

Is China Building Africa?, Zhengli Huang, Xiangming Chen

Faculty Scholarship

In this article, the authors address the question “Is China Building Africa?” by examining the true nature of China’s infrastructure development projects in Africa, and how the different players involved interact with each other.


Can Peers Improve Agricultural Revenue?, Tisorn Songsermsawas, Kathy Baylis, Ashwini Chhatre, Hope Michelson 2016 University of Illinois at Urbana-Champaign

Can Peers Improve Agricultural Revenue?, Tisorn Songsermsawas, Kathy Baylis, Ashwini Chhatre, Hope Michelson

Kathy Baylis

Crop revenues vary greatly among farmers and the source of that variation is not fully understood, even after controlling for factors including input use, technology adoption, and other agro-climatic factors. One hypothesis that may explain the variation in outcomes among farmers is differential access to information through peers. Using a household survey from India containing detailed information about personal relationships, we estimate peer effects on cash crop revenue using a novel spatial econometric technique to control for reflection. Our results show that 60% of farmers' revenue is explained by peers. Peer effects are particularly large in pesticide use and in ...


Optimal Task Assignments, Felipe Balmaceda Assoc Prof. 2016 Diego Portales University

Optimal Task Assignments, Felipe Balmaceda Assoc Prof.

Felipe Balmaceda

This paper studies optimal task assignments in a risk neutral principal-agent model in which agents are compensated according to an aggregated performance measure. The main trade-off involved is one in which specialization allows the implementation of any possible effort profile, while multitasking constraint the set of implementable effort profiles. Yet, the implementation of any effort profile in this set is less expensive than that under specialization. The principal prefers multitasking to specialization except when tasks are complements and the output after success is small enough so that it is not second-best optimal to implement high effort in each task. This ...


The American Recovery And Reinvestment Act: Examining The Spatial Distribution Of Federal Stimulus Funds, Matin Katirai, Jeffery L. Osgood Jr 2016 West Chester University of Pennsylvania

The American Recovery And Reinvestment Act: Examining The Spatial Distribution Of Federal Stimulus Funds, Matin Katirai, Jeffery L. Osgood Jr

Matin Katirai

No abstract provided.


Finance And Export Survival: The Case Of Mena Region And Sub-Saharan Africa, Melise Jaud, Madina Kukenova, Martin Strieborny 2016 World Bank

Finance And Export Survival: The Case Of Mena Region And Sub-Saharan Africa, Melise Jaud, Madina Kukenova, Martin Strieborny

Martin Strieborny

The paper looks at unique firm-product data collected by custom authorities in four countries from the Middle East and North Africa (MENA) - Jordan, Kuwait, Morocco, Yemen as well as in six countries of Sub-Saharan Africa (SSA) - Ghana, Mali, Malawi, Senegal, Tanzania, Uganda. We use these data to examine to impact of financial development on the long-term success of exports from developing countries. We find that those agricultural exports that face particularly costly implementation of Sanitary and Phytosanitary Standards (SPS) are also the ones that disproportionately benefit from a higher level of domestic financial development. This result confirms the previous findings ...


Hotel Profit Implications From Rising Wages And Inflation In The U.S., John B. Corgel 2016 Cornell University School of Hotel Administration

Hotel Profit Implications From Rising Wages And Inflation In The U.S., John B. Corgel

Jack Corgel

Macroeconomic models based on the Phillips Curve predict that as the unemployment rate declines toward the long-run, natural rate, the pace of wage and price growth accelerates and inflation rises.1 In this paper I analyze the profitability prospects for the U.S. hotel industry in today’s relatively volatile economic environment, keeping in mind the Phillips Curve’s general principle that inflation and employment have an inverse, but relatively stable short-term relationship. Although employment and economic growth in the U.S. have been uneven in recent months, the unemployment rate has declined to less than 5 percent, which many ...


A Cost Analysis Of Providing Vital Statistics Services By Iowa Local Government, Mark A. Edelman Dr., Brian L. Menz 2016 Iowa State University

A Cost Analysis Of Providing Vital Statistics Services By Iowa Local Government, Mark A. Edelman Dr., Brian L. Menz

Mark Edelman

This report is designed to foster discussion among citizens, leaders and policy makers regarding an important public issue of concern to Iowans. Iowa State University seeks to provide accurate research-based information on relevant issues and neither endorses nor opposes proposals regarding the issues analyzed. The research contained herein was conducted with partial support from the Iowa Agriculture and Home Economics Experiment Station (IAHEES), Iowa State University Extension (ISUE) and funding from the Iowa County Recorders Association. Funding from the Iowa County Recorders Association was solely used for providing research assistance with the understanding that the goal of the project was ...


Basic Commodity Programs: Understanding How They Work And Assessing 1990 Farm Bill Proposals, Mark A. Edelman Dr. 2016 Iowa State University

Basic Commodity Programs: Understanding How They Work And Assessing 1990 Farm Bill Proposals, Mark A. Edelman Dr.

Mark Edelman

How has agricultural policy changed over the years? Prior to the closing of the western frontier and for the first,150 years of this nation's history, government involvement in agriculture was primarily limited - to: - (1): land ownership, .and settlement policy,' (2) scientific input., .and (3> basic regulations. So, the U-Sb essentially had a market oriented policy


Options Of State And Local Governments For Dealing With Shfits And Fiscal Stress: A Midwest Perspective, Mark A. Edelman, Daniel M. Otto 2016 Iowa State University

Options Of State And Local Governments For Dealing With Shfits And Fiscal Stress: A Midwest Perspective, Mark A. Edelman, Daniel M. Otto

Mark Edelman

We live in a world of change. Nothing stays the sane forever. Communities and institutions are born. Some group and continue to group. Some nay experience decline. Some nay even die. Fiscal stress may' occur during the growth phase if the demand for community services expands faster than the capacity to deliver the services. However a different kind of fiscal stress occurs when the community's economic base erodes due to structural change in nature or declining industries like agriculture, mining, petroleum or labor-intensive manufacturing. This symposium is concerned more with the last type of stress.


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