Alianzas Estratégicas, 2015 SelectedWorks
Alianzas Estratégicas, Guillermo Arosemena
No abstract provided.
A Business Trust For Partnerships? Early Conceptions Of Company-Related Assets In Legal Literature, And Antwerp Forensic And Commercial Practice (Later Sixteenth-Early Seventeenth Century), 2015 SelectedWorks
A Business Trust For Partnerships? Early Conceptions Of Company-Related Assets In Legal Literature, And Antwerp Forensic And Commercial Practice (Later Sixteenth-Early Seventeenth Century), Dave De Ruysscher
Dave De ruysscher
The Antwerp example demonstrates that in the early modern period entity shielding for partnerships existed in some form by law, and that it was devised in doctrine and the practice of courts rather than in legislation. The affectation of assets for the business venture that did not entail limited liability nonetheless allowed for some separation of personal from partnership-related assets. This innovation, which was devised in doctrine in the early 1600s, was important in a mercantile context in which partnerships with open goals and with active partners or directors engaged in diverse business activities. Yet, according to an older rule ...
American And British Strategies In The Competition For Energy Resources In Sub-Saharan Africa, Stefan Andreasson
No abstract provided.
Slow Information Diffusion And The Inertial Behavior Of Durable Consumption, 2015 SelectedWorks
Slow Information Diffusion And The Inertial Behavior Of Durable Consumption, Yulei Luo, Jun Nie, Eric Young
This paper studies the aggregate dynamics of durable and nondurable consumption under slow information diffusion (SID) due to noisy observations and learning within the permanent income framework. We show that SID can significantly improve the model's predictions on the joint behavior of income, durable consumption, and nondurable consumption at the aggregate level. Specifically, we find that SID can significantly improve the model's predictions for: (i) smoothness in durable and nondurable consumption, (ii) autocorrelation of durable consumption, and (iii) contemporaneous correlation between durable and nondurable consumption.
The Role Of Coordination Bias In Platform Competition, 2015 SelectedWorks
The Role Of Coordination Bias In Platform Competition, Hanna Halaburda, Yaron Yehezkel
This paper considers platform competition in a two-sided market that includes buyers and sellers. One of the platforms benefits from a favorable coordination bias in the market, in that for this platform it is less costly than for the other platform to convince customers that the two sides will coordinate on joining it. We find that the degree of the coordination bias affects the platform's decision regarding the business model (i.e., whether to subsidize buyers or sellers), the access fees and the size of the platform. A slight increase in the coordination bias may induce the advantaged platform ...
Bank On Steel? Joint-Stock Banks And The Rationalization Of The British Interwar Steel Industry, Florian Ploeckl
This study investigates the impact of joint-stock banks on the rationalization of the British interwar steel industry. A new panel data set of steel firm characteristics covering 1920–1938 is used to document rationalization and bank involvement, including interlocking directorships, with both found to be more extensive than previously thought. A set of all potential amalgamation pairs is created and used in a logit analysis of the determinants of mergers. Bank involvement with firms increased the probability that a particular merger occurred. Furthermore, mergers with bank involvement differed in their impact on profitability from those without.
Una Politica Industriale Per L’Europa, 2014 SelectedWorks
Una Politica Industriale Per L’Europa, Mario Pianta, Matteo Lucchese
In Europa si è tornati a parlare di politica industriale dopo una lunga fase di stagnazione che ha distrutto parte della capacità produttiva dell’Unione. L’articolo discute le attuali politiche dell’Unione e propone le linee guida di un nuovo piano industriale a livello europeo. Una nuova politica industriale potrebbe affrontare gli squilibri macroeconomici, industriali, ambientali e favorire la ripresa dei paesi della “periferia” d’Europa, i più colpiti dalla crisi.
Convergence In Models With Bounded Expected Relative Hazard Rates, 2014 SelectedWorks
Convergence In Models With Bounded Expected Relative Hazard Rates, Carlos Oyarzun, Johannes Ruf
We provide a general framework to study stochastic sequences related to an array of models in different literatures, including models of individual learning in economics, learning automata in computer sciences, social learning in marketing, and many others. In this setup, we study the asymptotic properties of a class of stochastic sequences that take values in [0,1] and satisfy a property that we call “bounded expected relative hazard rates.” We provide sufficient conditions for related sequences, which, compared to the original sequence, either move slowly or slow down over time, that yield con- vergence to one with high probability or ...
Top Of The Order: Modeling The Optimal Locations Of Minor League Baseball Teams, 2014 Illinois Wesleyan University
Top Of The Order: Modeling The Optimal Locations Of Minor League Baseball Teams, W. Coleman Conley
Undergraduate Economic Review
Over the last twenty-five years, minor league baseball franchises have defined firm mobility. Revisiting the work of Michael C. Davis (2006), I construct a logistic regression model to predict which cities house minor league baseball teams. Six variables are tested for inclusion in the model, including population, income level, the number of major-league professional sports teams in a city, five-year population change, and distance from the closest professional team. Based on the model's predicted probabilities, cities are ranked in order of highest probability of having a team at each of the different levels from Class A to Class AAA.
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, 2014 Illinois Wesleyan University
A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala
Undergraduate Economic Review
This paper analyzes the effects of quantitative easing (QE) on the capital markets by modeling exchange traded funds (ETFs) returns using a generalized autoregressive conditional heteroskedasticity (GARCH) methodology. The results show that the 10-Year Treasury yields are significant in the returns of some sectors of the economy more so than others, and the Federal Funds Futures trading volume is significant in all ETFs return volatility. The implications of these results not only provide information about the reaction of the ETF market and QE, but also provide insight for developing investment strategies.
The Dynamics Of Medicaid & Public Health Spending: Implications For Aca Implementation, 2014 University of Kentucky
The Dynamics Of Medicaid & Public Health Spending: Implications For Aca Implementation, Glen P. Mays
We estimate the dynamics and interactions of governmental spending on Medicaid and other public health services in all 50 states over a 15 year period. Using a quasi-experimental design with instrumental variables estimation, we find evidence that increased Medicaid spending leads to reduced governmental spending on other public health services, consistent with a crowd-out effect. Over 10 years, such crowd-out has the potential to diminish the health status improvements generated through health insurance coverage expansions.
Geographic Variation In The Delivery Of High-Value Public Health Services:Exploring Causes & Consequences, 2014 University of Kentucky
Geographic Variation In The Delivery Of High-Value Public Health Services:Exploring Causes & Consequences, Glen P. Mays
OBJECTIVES: A growing body of evidence indicates that the delivery of public health activities varies widely across states and communities, creating missed opportunities for prevention as well as inequities in health protection. Measures of quality in public health are needed to guide public health improvement initiatives and to support research on the comparative effectiveness of alternative public health strategies. The Multi-network Practices and Outcomes Variation Examination Study (MPROVE), uses the infrastructure of six Public Health Practice-Based Research Networks (PBRNs) across the U.S. to develop and validate a “starter set” of measures and to analyze geographic variation delivery across diverse ...
Cost Estimates Of Foundational Public Health Services:Results From Piloting An Expert Consensus Methodology, 2014 University of Kentucky
Cost Estimates Of Foundational Public Health Services:Results From Piloting An Expert Consensus Methodology, Cezar B. Mamaril, Glen P. Mays
We review preliminary estimates from pilot testing a cost estimation methodology developed to identify the resources required to implement a set of Foundational Public Health Services as recommended by the Institute of Medicine and defined by the Public Health Leadership Forum.
Medicaid Expansions & Public Health Spending: Cross-Subsidies, Complementarities, And Crowd-Out, 2014 University of Kentucky
Medicaid Expansions & Public Health Spending: Cross-Subsidies, Complementarities, And Crowd-Out, Glen Mays
In this paper we estimate the causal impact of state Medicaid enrollment expansions and expenditures on state and local resources allocated to other public health programs and services. Using a quasi-experimental design with instrumental variables estimation, we find evidence that increased Medicaid spending leads to reduced governmental spending on other public health services, consistent with a crowd-out effect. Over 10 years, such crowd-out has the potential to diminish the health status improvements generated through health insurance coverage expansions.
Estimating The Costs Of Foundational Public Health Services: Pilot Results Of An Expert Consensus Methodology, 2014 University of Kentucky
Estimating The Costs Of Foundational Public Health Services: Pilot Results Of An Expert Consensus Methodology, Cezar B. Mamaril, Glen P. Mays
We developed a methodology for estimating the resources required to deliver a set of foundational public health capabilities as recommended in the 2012 Institute of Medicine report on public health financing. The capabilities are based on IOM recommendations and defined by a national expert panel convened as part of the Public Health Leadership Forum. This paper presents preliminary estimates from a pilot test of the cost estimation methodology in Kentucky, and outlines plans for the national estimation strategy.
Avant-Garde Welfare Capitalism: Corporate Welfare Work And Enlightened Capitalism In Great Britain, The Us, Germany And France (1880-1930), 2014 Cornell University ILR School
Avant-Garde Welfare Capitalism: Corporate Welfare Work And Enlightened Capitalism In Great Britain, The Us, Germany And France (1880-1930), Erik De Gier
Conference Proceedings, Presentations, and Speeches
This research paper deals with welfare work in four industrializing countries, Great Britain, the USA, Germany and France, in the half century of flowering enlightened paternalistic capitalism between 1880 and 1930. Welfare work in this context is defined as, sometimes overly, paternalistic labour policy of enlightened entrepreneurs often encompassing workman’s housing programs, pensions, saving programs, educational programs, sports facilities, medical services, worker participation, generous remuneration forms, and shorter working times. The question is raised if nowadays flex-capitalism in the context of shrinking collective welfare states can learn lessons from past experience with welfare work. By redefining paternalistic welfare work ...
Optimizing Public Health Systems For Population Health Improvement: Institutions, Economics, And Metrics, 2014 University of Kentucky
Optimizing Public Health Systems For Population Health Improvement: Institutions, Economics, And Metrics, Glen P. Mays
This lecture reviews the evidence concerning the institutional and economic characteristics of public health delivery systems and their impact on population health. Emerging findings from these studies suggest promising pathways for transforming the U.S. public health system in ways that strengthen its effectiveness, efficiency and equity in producing health. .
The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, 2014 University of Pennsylvania Law School
The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, Jill E. Fisch
Since the 2008 financial crisis, in which the Reserve Primary Fund “broke the buck,” money market funds (MMFs) have been the subject of ongoing policy debate. Many commentators view MMFs as a key contributor to the crisis because widespread redemption demands during the days following the Lehman bankruptcy contributed to a freeze in the credit markets. In response, MMFs were deemed a component of the nefarious shadow banking industry and targeted for regulatory reform. The Securities and Exchange Commission’s (SEC) misguided 2014 reforms responded by potentially exacerbating MMF fragility while potentially crippling large segments of the MMF industry.
Vicious Cycle Or Business Cycle?: Explaining Political Violence In Northern Ireland After The Troubles, 2014 Illinois Wesleyan University
Vicious Cycle Or Business Cycle?: Explaining Political Violence In Northern Ireland After The Troubles, Lauren Burke
There are currently two schools of thought that seek to explain the persistence of political violence in Northern Ireland, one with a sociopolitical focus and the other with an economic focus. Expanding on past economic theory, this paper utilizes several multiple regression models to test the applicability of the economic school’s relative deprivation theory in the fifteen years since the Troubles were formally ended with the signing of the Good Friday Agreement. The basis of this theory is that as economic conditions worsen in a given area, the number of acts of political violence should also increase. This study ...
“…With Liberty And Justice Equitably And Efficiently Allocated For All”, 2014 Illinois Wesleyan University
“…With Liberty And Justice Equitably And Efficiently Allocated For All”, Jake K. Bates
The American pledge of allegiance and Constitution indicate that liberty and justice are provided for all citizens and that we are guaranteed equal protection under the law. Understanding the state of nature as Thomas Hobbes did, it is clear that liberty and justice are not efficiently allocated and there is no protection under law. Therefore, these ethical concepts are provided in civil society tangibly through civil services including policing. This essay views local police resources as an economic good, limited in its supply, in need of both equitable and efficient allocation. The ethical implications of inequitable or inefficient policing are ...