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Alianzas Estratégicas, Guillermo Arosemena 2015 SelectedWorks

Alianzas Estratégicas, Guillermo Arosemena

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), Dave De ruysscher 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 2015 SelectedWorks

American And British Strategies In The Competition For Energy Resources In Sub-Saharan Africa, Stefan Andreasson

Stefan Andreasson

No abstract provided.


Slow Information Diffusion And The Inertial Behavior Of Durable Consumption, Yulei Luo, Jun Nie, Eric Young 2015 SelectedWorks

Slow Information Diffusion And The Inertial Behavior Of Durable Consumption, Yulei Luo, Jun Nie, Eric Young

Yulei Luo

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, Hanna Halaburda, Yaron Yehezkel 2015 SelectedWorks

The Role Of Coordination Bias In Platform Competition, Hanna Halaburda, Yaron Yehezkel

Hanna Halaburda

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 2015 SelectedWorks

Bank On Steel? Joint-Stock Banks And The Rationalization Of The British Interwar Steel Industry, Florian Ploeckl

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, Mario Pianta, Matteo Lucchese 2014 SelectedWorks

Una Politica Industriale Per L’Europa, Mario Pianta, Matteo Lucchese

Mario Pianta

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, Carlos Oyarzun, Johannes Ruf 2014 SelectedWorks

Convergence In Models With Bounded Expected Relative Hazard Rates, Carlos Oyarzun, Johannes Ruf

Carlos Oyarzun

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, W. Coleman Conley 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, Nicholas R. Duafala 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.


Medicaid Expansions & Public Health Spending: Cross-Subsidies, Complementarities, And Crowd-Out, Glen Mays 2014 University of Kentucky

Medicaid Expansions & Public Health Spending: Cross-Subsidies, Complementarities, And Crowd-Out, Glen Mays

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.


Optimizing Public Health Systems For Population Health Improvement: Institutions, Economics, And Metrics, Glen P. Mays 2014 University of Kentucky

Optimizing Public Health Systems For Population Health Improvement: Institutions, Economics, And Metrics, Glen P. Mays

Glen 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, Jill E. Fisch 2014 University of Pennsylvania Law School

The Broken Buck Stops Here: Embracing Sponsor Support In Money Market Fund Reform, Jill E. Fisch

Faculty Scholarship

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.

Determining ...


Vicious Cycle Or Business Cycle?: Explaining Political Violence In Northern Ireland After The Troubles, Lauren Burke 2014 Illinois Wesleyan University

Vicious Cycle Or Business Cycle?: Explaining Political Violence In Northern Ireland After The Troubles, Lauren Burke

CrissCross

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”, Jake K. Bates 2014 Illinois Wesleyan University

“…With Liberty And Justice Equitably And Efficiently Allocated For All”, Jake K. Bates

CrissCross

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 ...


A Comparison Of Defense And Welfare Spending In The United States And The United Kingdom, 1946-1976, James L. Clayton 2014 Western Michigan University

A Comparison Of Defense And Welfare Spending In The United States And The United Kingdom, 1946-1976, James L. Clayton

The Journal of Sociology & Social Welfare

One of the most important and absorbing questions of our time is whether governments should extend or retrench their efforts toward assisting people who do not seem to be able to make it on their own. Those who believe that governments should expand their programs to help the needy argue that a compassionate and affluent society has both the ability and the responsibility to do so; those who believe that governments have already pushed too far and too fast argue that the advance of the welfare state must be halted. Closely related to this basic disagreement is the question whether ...


New York City And The Economic Crisis, Joseph Harris 2014 Western Michigan University

New York City And The Economic Crisis, Joseph Harris

The Journal of Sociology & Social Welfare

The crisis of New York City and the crises affecting many hundreds of other cities, counties, school districts, and other local and state governments are not accidents. They are a direct result of the neglect that social welfare receives at the hands of a government interested only in furthering the profits and position of the monopolies. Some people call the U.S. government a "warfare/welfare" state. I prefer to call it a state dominated by the giant corporations which control the economic and hence the political life of our nation. As long as federal policy continues to stress profits ...


Do You Know What You Owe? Students' Understanding Of Their Student Loans, Emily A. Andruska, Jeanne M. Hogarth, Cynthia Needles Fletcher, Gregory R. Forbes, Darin R. Wohlgemuth 2014 National Association of Student Financial Aid Administrators

Do You Know What You Owe? Students' Understanding Of Their Student Loans, Emily A. Andruska, Jeanne M. Hogarth, Cynthia Needles Fletcher, Gregory R. Forbes, Darin R. Wohlgemuth

Journal of Student Financial Aid

Using a data set that augments a student survey with administrative data from the Iowa State University Office of Financial Aid, the authors posed two questions: Do students know whether they have student loans? Do students know how much they owe on outstanding student loans? We used logistic and ordered logit regressions to answer these questions. Results suggest that although the majority of students are aware that they owe on student loans, many underestimate the amount they owe. One eighth of students in the current study reported no student debt when, in fact, they had a loan. Over a quarter ...


Social Welfare As A By-Product: The Effect Of Neo-Mercantilism , David Macarov 2014 Western Michigan University

Social Welfare As A By-Product: The Effect Of Neo-Mercantilism , David Macarov

The Journal of Sociology & Social Welfare

During the eighteenth and nineteenth centuries mercantilism was a predominant philosophy, theory, or guide to action in many western countries. Emphasis on measures leading to national wealth was pronounced--in some cases, almost exclusive--and the results for social welfare were marginal programs at best, and anti-welfare programs in some cases. In contradistinction to individual needs or aspirations, considerations of national wealth and power were paramount to the point that, in Britain at least, it seemed that here was "nothing to fight for, nothing to support, nothing to augment but.. .commerce." Whether national wealth was seen as leading to national iower, or ...


Examining The Afqt As A Proxy For Human Capital, Jaret L. Kanarek 2014 Illinois Wesleyan University

Examining The Afqt As A Proxy For Human Capital, Jaret L. Kanarek

Undergraduate Economic Review

I examine whether the Armed Forces Qualifications Test (AFQT) is a suitable proxy for human capital skills by testing the hypothesis that those factors most germane to human capital skills acquisition will most affect AFQT score. Using data from the National Longitudinal Survey of the Youth and OLS regression analysis, I find that strict and loose human capital factors are robust determinants of AFQT score, and thus the AFQT is a suitable proxy for human capital skills. However, its use as such requires specification that the AFQT is not a catchall for human capital factors, as it is significantly related ...


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