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Trust In Cohesive Communities, Felipe Balmaceda Assoc Prof., Juan Escobar Assistant Professor 2017 Diego Portales University

Trust In Cohesive Communities, Felipe Balmaceda Assoc Prof., Juan Escobar Assistant Professor

Felipe Balmaceda

This paper studies which social networks maximize trust and welfare when agreements are implicitly enforced. We study a repeated trust game in which trading opportunities arise exogenously and a social network determines the information each player has. We show that cohesive communities, modeled as social networks of complete components, emerge as the optimal community design. Cohesive communities generate some degree of common knowledge of transpired play that allows players to coordinate their punishments and, as a result, yield relatively high equilibrium payoffs. We also show that when news swiftly travel through the network, Pareto efficient networks are minimally connected: the ...


Partial Disability And Labor Market Adjustment: The Case Of Spain, José Ignacio Silva, Judit Vall 2017 Universitat Pompeu Fabra

Partial Disability And Labor Market Adjustment: The Case Of Spain, José Ignacio Silva, Judit Vall

José Ignacio Silva


Although partially disabled individuals in Spain are allowed to combine disability benefits with a job, the empirical evidence shows that the employment rate of this group of individuals is very low because they have a much lower job finding and a higher job separation rates than nondisabled workers. Moreover, a decomposition analysis of the equilibrium employment rate shows that the differences in the job finding rates explain 85 percent of the disabled employment gap. To explain these facts, we construct a labor market model with search intensity and matching frictions to identify the incentives and disincentives to work in Spain ...


Essays On Inequality And Macroeconomic Stability, Thomas Hauner 2017 The Graduate Center, City University of New York

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

All Graduate Works by Year: Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an economy with ...


Targeted Advertising, Platform Competition And Privacy, Henk L.M. Kox, Bas Straathof, Gijsbert Zwart 2017 KVL Economic Policy Research

Targeted Advertising, Platform Competition And Privacy, Henk L.M. Kox, Bas Straathof, Gijsbert Zwart

Henk LM Kox

Targeted advertising can benefit consumers through lower prices for access to websites. Yet, if consumers dislike that websites collect their personal information, their welfare may go down. We study competition for consumers between websites that can show targeted advertisements. We find that more targeting increases competition and reduces the websites’ profits, but yet in equilibrium websites choose maximum targeting as they cannot credibly commit to low targeting. A privacy protection policy can be beneficial for both consumers and websites. If consumers are heterogeneous in their concerns for privacy, a policy that allows choice between two levels of privacy will be ...


The Impact Of Public Credit Programs On Brazilian Firms, Joao Alberto DeNegri, Alessandro Maffioli, Cesar Rodriguez 2017 Instituto de Pesquisa Econômica Aplicada

The Impact Of Public Credit Programs On Brazilian Firms, Joao Alberto Denegri, Alessandro Maffioli, Cesar Rodriguez

Cesar Rodriguez

This paper analyzes the effectiveness of public credit lines in promoting the performances of Brazilian firms. We focus on the impact of the credit lines managed by BNDES and FINEP in fostering growth measured in terms of employment, labor productivity and export. For this purpose, we use a unique panel data set developed by the Instituto de Pesquisa Econômica Aplicada (IPEA), which includes information on both firm-level performances and access to public credit lines. This particular data setting allows us to use quasi-experimental techniques to control for selection bias when estimating the impact of the public credit lines. The core ...


The Role Of Inflation Targeting In Debt Denomination In Developing Countries, Olena Ogrokhina, Cesar M. Rodriguez 2017 Lafayette College

The Role Of Inflation Targeting In Debt Denomination In Developing Countries, Olena Ogrokhina, Cesar M. Rodriguez

Cesar Rodriguez

This paper analyzes the inflation targeting experience of developing countries as an effective monetary policy framework to promote changes in the currency composition of their international debt. Using matching with difference-in-differences to address the self-selection bias, we find that in inflation targeting has led to a 3-6 percentage point reduction in the foreign currency share of international debt in targeting countries when compared to non-targeting countries. Furthermore, from the analysis of the individual currency shares, we find that inflation targeting has contributed to a 10 percentage points lower US dollar share in international debt in targeting countries compared to non-targeting ...


Assessing The Impact Of Cluster Policies: The Case Of The Arranjos, Lucas Figal Garone, Alessandro Maffioli, Cesar Rodriguez, Gonzalo Vazquez Bare, Joao Alberto DeNegri 2017 Inter-American Development Bank

Assessing The Impact Of Cluster Policies: The Case Of The Arranjos, Lucas Figal Garone, Alessandro Maffioli, Cesar Rodriguez, Gonzalo Vazquez Bare, Joao Alberto Denegri

Cesar Rodriguez

This paper assesses the impact of a cluster development policy in Latin America. A Local Productive Arrangement (APL) is a cluster of firms within the same territory, operating around the same activity and maintaining ties of cooperation and learning among themselves and with other stakeholders. Using firm-level data comprising information on SMEs from Brazil for the years 2002 to 2009 we apply fixed effects, matching and reweighting methods to estimate both the direct and the indirect – i.e. spillovers – causal effect of participating in APLs on a series of SMEs’ performance indicators, including level of employment, value of exports and ...


Hysteresis In Unemployment: Evidence From Latin America, Matias Mednik, Cesar Rodriguez, Inder J. Ruprah 2017 Columbia University

Hysteresis In Unemployment: Evidence From Latin America, Matias Mednik, Cesar Rodriguez, Inder J. Ruprah

Cesar Rodriguez

This paper tests the hysteresis hypothesis in unemployment for 13 Latin American countries covering the period 1980-2005. The tests exploit the time series and the cross sectional variation of the series, and allows for cross section dependence and a different number of endogenously determined structural breakpoints. The findings give support to the hysteric dynamic hypothesis for the majority of the countries analyzed. The implications of the results have ramifications regarding macro-stabilization, structural reform, and the design of social safety protection.


Clamoring For Greenbacks: Explaining The Resurgence Of The U.S. Dollar In International Debt, Hiro Ito, Cesar Rodriguez 2017 Portland State University

Clamoring For Greenbacks: Explaining The Resurgence Of The U.S. Dollar In International Debt, Hiro Ito, Cesar Rodriguez

Cesar Rodriguez

This paper investigates the determinants of currency denomination in international debt. Using data on currency shares for international debt securities for 82 countries from 1995 through 2013, we find that while the extent of foreign currency issuance has not changed much since the 1990s, especially for developing countries, the currency composition has shifted, especially between the U.S. dollar and the euro. Before the Global Financial Crisis (GFC) of 2008, the share of the U.S. dollar has been on a downward trend while that of the euro had been on a steady rising trend, but since the crisis, the ...


The Effectiveness Of Public Development Banks: Designing Good Impact Evaluations, Alessandro Maffioli, Cesar M. Rodriguez 2017 Inter-American Development Bank

The Effectiveness Of Public Development Banks: Designing Good Impact Evaluations, Alessandro Maffioli, Cesar M. Rodriguez

Cesar Rodriguez

PDB programs have become a fundamental ingredient of productive development policy strategies in most emerging economies. Although the overall need for these interventions is rarely questioned, academics and policymakers often debate their effectiveness, as well as the optimal approaches and instruments necessary to implement them. Therefore, the need to produce rigorous evaluations of PDBs has become increasingly relevant for both government and civil society (see Chapter 2).

This chapter presents the main concepts and operational arguments regarding the execution of indepth impact evaluations of PDB initiatives and instruments. For a more practical approach, these arguments are presented with examples of ...


New Evidence On State Fiscal Multipliers: Implications For State Policies, Timothy J. Bartik 2017 W.E. Upjohn Institute

New Evidence On State Fiscal Multipliers: Implications For State Policies, Timothy J. Bartik

Timothy J. Bartik

When state and local governments engage in balanced budget changes in taxes and spending, what fiscal multiplier effects do such policies have on creating local jobs? Traditionally, the view has been that possible job-creation effects of such state and local “demand-side” policies are smaller, second-order effects. Such effects might be worthwhile to take into consideration when a state or local government balances its budget during a recession, but the effects were believed to be of modest magnitude, and not of major importance for more general state and local public policies. However, recent estimates of fiscal multiplier effects of state and ...


Aflatoxin In Corn New Perspectives, D. T. Wicklow 2017 U.S.D.A.

Aflatoxin In Corn New Perspectives, D. T. Wicklow

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

Preharvest contamination of com (Zea mays L.) with aflatoxin, a metabolite produced by the fungus Aspergillus flavus Link: Fr., is a recurrent problem in the southeastern United States, but occasional serious outbreaks also occur in the Midwest Com Belt (21). Aflatoxins are recognized as potent hepatotoxins and carcinogens, causing mortality or reducing the productivity of farm animals (89). Aflatoxin-contaminated foodstuffs also have been associated with increased incidence of liver cancer in humans (39). In com-producing regions, the economic impact from yield loss is not very large, but A. flavus contaminates the grain with aflatoxin. Fungal toxins reduce the value of ...


The Farmer-Owned Reserve After Eight Years: A Summary Of Research Findings And Implications, William H. Meyers 2017 Iowa State University of Science & Technology

The Farmer-Owned Reserve After Eight Years: A Summary Of Research Findings And Implications, William H. Meyers

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

The Farmer-Owned Reserve Program (FOR) was inaugurated in April of 1977 by Secretary of Agriculture Bergland under the authority of existing legislation. Congress followed suit by specifically adopting FOR provisions for wheat and feed grains in the Food and Agricultural Act of 1977. Although the government had owned large stocks of grains and fibers in the 1950s and 1960s, the FOR was the first deliberate effort in the history of U.S. agriculture to establish a stabilization stocks program.

Since its inception, the FOR program has been at various times praised and damned by farmers, policy analysts, and policymakers. It ...


Cooperative Activities In Marketing Fluid Milk In The Chicago Federal Order Market, Ronald E. Deiter, Sheldon W. Williams, James W. Gruebele 2017 Iowa State University of Science & Technology

Cooperative Activities In Marketing Fluid Milk In The Chicago Federal Order Market, Ronald E. Deiter, Sheldon W. Williams, James W. Gruebele

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

This case study investigated operations of cooperative federations in marketing milk in the Chicago regional federal order market in the early and mid-1970s. The Associated M ilk Producers Incorporated (AMPI) Agency qualified supply plants of participating firms, provided supplemental milk to processors, and marketed their surplus milk. Central Milk Producers Cooperative (CMPC) negotiated a superpool price for class I milk, advance priced some class II and III milk, levied handling charges, and implemented a variety of marketing programs. Economic consequences of these activities are evaluated.


Nutrient Concentrations And Accumulations In Precipitation Over The North Central Region, M. A. Tabatabai, R. E. Burwell 2017 Iowa State University of Science & Technology

Nutrient Concentrations And Accumulations In Precipitation Over The North Central Region, M. A. Tabatabai, R. E. Burwell

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

The many facets of plant nutrients (e.g., N, P, and S) in the biosphere have become major environmental issues within the past decade. This concern is justified because of the increasing contamination of air and water resources by various substances on local and regional levels, especially in areas close to point sources. Little information is available, however, on variation in the amounts and concentrations of some of the substances present in air and natural water in various parts of the United States. Such information is essential for a better understanding of the transport and perhaps the fates of pollutants ...


Investment, Production, And Marketing Strategies For An Iowa Cattle Feeder In A Risky Environment, Donald Johnson, Michael Boehlje 2017 Caterpillar Tractor Co.

Investment, Production, And Marketing Strategies For An Iowa Cattle Feeder In A Risky Environment, Donald Johnson, Michael Boehlje

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

It is widely accepted that agriculture is one of the riskier industries in the United States; the wide fluctuations experienced in grain and livestock prices are well known (Nelson et al., 32, pp. 131-132). Cattle feeding in recent years has been notoriously volatile in profitability, resulting primarily from fluctuations in feed costs and feeder cattle and fed cattle prices (Futrell and Bums, 12).

Risk management is important for a successful farm operation (Nelson et al., 32, pp. 169-184). One possible way to manage risk is through the choice of firm size and leverage (debt in relationship to total assets) configuration ...


A Liability Management Model For Banks Of The Farm Credit System, Loren Tauer, Michael Boehlje 2017 Cornell University

A Liability Management Model For Banks Of The Farm Credit System, Loren Tauer, Michael Boehlje

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

The Federal Intermediate Credit Banks through local Production Credit Associations and other financial institutions have become significant suppliers of non-real-estate credit to agricultural producers. The increased volume has been accompanied by fluctuations in the funding volume and costs at which the funds are obtained. The liability management model developed and empirically tested in this study is an operational procedure that may be useful to the banks as an aid in selecting liability structures that minimize the average cost of credit that they provide to PC As and OFIs.

The model requires an estimate of monthly expected debt costs for the ...


Evaluation Of Isoquant Forms In Beef Production, Francis Epplin, Shashanka Bhide, Earl O. Heady 2017 Iowa State University of Science & Technology

Evaluation Of Isoquant Forms In Beef Production, Francis Epplin, Shashanka Bhide, Earl O. Heady

Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)

Several events during the 1970’s have indicated the need for improved knowledge of substitution or trade-off rates between forage and concentrates in beef cattle rations. Unparalleled wide swings in the prices of feed grains and forages have given rise to large fluctuations in the price ratios among feeds and between feeds and beef. These fluctuating price ratios have caused the profitability of cattle feeding to be highly variable. They also have caused considerable swings among feed-stuffs in the rations that are o f lowest cost for a given gain. During the period o f large world crop shortfalls and ...


Rethinking Formalization Of Zimbabwe's Informal Sector, Nixon S. Chekenya Mr 2017 Midlands State University

Rethinking Formalization Of Zimbabwe's Informal Sector, Nixon S. Chekenya Mr

Undergraduate Economic Review

The notion of formalizing the informal sector in Zimbabwe is not new however; this paper asserts that although much is known on the subject, considerably little seems to be understood. This paper uses an extended literature review to characterize the identification of informality and explores the different approaches to formalizing informal activities. Furthermore, the concepts are contextualized to Zimbabwe’s environment as a way of articulating the reality of available options that may be integrated into the transition process. It emerges that there is diversity of circumstances in rural and urban settings, economic sectors, occupations and national contexts. In this ...


Earth M. M. White Collection Container List, Thomas G. Carpenter Library, Special Collections and University Archives 2017 University of North Florida

Earth M. M. White Collection Container List, Thomas G. Carpenter Library, Special Collections And University Archives

Finding Aids and Container Lists

Personal correspondence, documents, notes, memorabilia, printed materials and photographs. Notable materials include numerous photographs chronicling twentieth century black history in Jacksonville and historical photographs of urban Jacksonville. Included in the collection are the photographs of R. Lee Thomas, a black photographer active in the early twentieth century in the southern United States. Thomas' work covers primarily southern black religious and labor groups, circa 1946-49.


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