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Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki FUJII 2017 Singapore Management University

Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii

Research Collection School Of Economics

In this paper, we propose a new method of poverty decomposition. Our method remedies the shortcomings of existing methods and has some desirable properties such as time-revision consistency and subperiod additivity. It integrates the existing methods of growth-redistribution decomposition and sector based decomposition, because it allows us to decompose poverty change into growth and redistribution components for each group (e.g., regions or sectors) in the economy. We extend out method to have six components and provide empirical application to the Philippines for the period of 1985 to 2009.


A Guide To Circuit Core Models, Lester G. Telser 2017 University of Chicago

A Guide To Circuit Core Models, Lester G. Telser

Lester G Telser

Table of contents to Circuits as Coalitions in the Core


Disfluent Fonts Don’T Help People Solve Math Problems, Andrew Meyer, Shane Frederick, Terence C. Burnham, Juan D. Guevera Pinto, Ty W. Boyer, Linden J. Ball, Gordon Pennycook, Rakefet Ackerman, Valerie A. Thompson, Jonathon P. Schuldt 2017 Yale University

Disfluent Fonts Don’T Help People Solve Math Problems, Andrew Meyer, Shane Frederick, Terence C. Burnham, Juan D. Guevera Pinto, Ty W. Boyer, Linden J. Ball, Gordon Pennycook, Rakefet Ackerman, Valerie A. Thompson, Jonathon P. Schuldt

Ty W. Boyer

Prior research suggests that reducing font clarity can cause people to consider printed information more carefully. The most famous demonstration showed that participants were more likely to solve counterintuitive math problems when they were printed in hard-to-read font. However, after pooling data from that experiment with 16 attempts to replicate it, we find no effect on solution rates. We examine potential moderating variables, including cognitive ability, presentation format, and experimental setting, but we find no evidence of a disfluent font benefit under any conditions. More generally, though disfluent fonts slightly increase response times, we find little evidence that they activate ...


The Modigliani-Miller Theorem At 60: The Long-Overlooked Legal Applications Of Finance’S Foundational Theorem, Michael S. Knoll 2017 University of Pennsylvania Law School

The Modigliani-Miller Theorem At 60: The Long-Overlooked Legal Applications Of Finance’S Foundational Theorem, Michael S. Knoll

Faculty Scholarship

2018 marks the 60th anniversary of the publication of Franco Modigliani and Merton Miller’s The Cost of Capital, Corporation Finance, and the Theory of Investment. Widely hailed as the foundation of modern finance, their article, which purports to demonstrate that a firm’s value is independent of its capital structure, is little known by lawyers, including legal academics. That is unfortunate because the Modigliani-Miller capital structure irrelevancy proposition (when inverted) provides a framework that can be extremely useful to legal academics, practicing attorneys and judges.


New Dimensions In Economic Analysis Of Legal Issues: The Appropriate Regulatory Balance Of Antitrust Law In The Context Of The Technological Innovation, Jungmi Bang 2017 Indiana University Maurer School of Law

New Dimensions In Economic Analysis Of Legal Issues: The Appropriate Regulatory Balance Of Antitrust Law In The Context Of The Technological Innovation, Jungmi Bang

Theses and Dissertations

The role of Empirical study in legal decision, even in the rule making, was increased by the economic development with the occurrence of economic realism. The incensement of economic implication of the law, without exception, impacted to the court’s ruling in the antitrust case and the antitrust law-making itself. Now it is one of the common way, court use concepts and theories developed by economists and weaves economic concepts into decisions to support their result.

The classical perspective of economic theories regarding antitrust law was start from early theorist Adam Smith in 1776, even it denied the economic implication ...


Random Mechanism Design On Multidimensional Domains, Shurojit CHATTERJI, Huaxia ZENG 2017 Singapore Management University

Random Mechanism Design On Multidimensional Domains, Shurojit Chatterji, Huaxia Zeng

Research Collection School Of Economics

We study random mechanism design in an environment where the set of alternatives has a Cartesian product structure. We first show that all generalized random dictatorships are strategy-proof on a minimally rich domain if and only if the domain is a top-separable domain. We next generalize the notion of connectedness (Monjardet, 2009) to establish a particular class of top-separable domains: connected domains, and show that in the class of minimally rich and connected domains, the multidimensional single-peakedness restriction is necessary and sufficient for the design of a flexible random social choice function that is unanimous and strategy-proof. Such a flexible ...


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 ...


Nebraska Monthly Economic Indicators: September 20, 2017, Eric Thompson 2017 University of Nebraska-Lincoln

Nebraska Monthly Economic Indicators: September 20, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.38% during August of 2017. The decline in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow slowly during the first few months of 2018. The drop in the indicator was primarily due to a decline in manufacturing hours-worked during August. Building permits for single-family homes and airline passenger enplanements also dropped slightly. There were two positive components of the LEI-N. Businesses responding to the August Survey of Nebraska Business reported plans to increase sales and employment over ...


Unequal Exchange In Global Trade: Theoretical And Empirical Issues, Andrea Ricci 2017 Università degli Studi di Urbino

Unequal Exchange In Global Trade: Theoretical And Empirical Issues, Andrea Ricci

Andrea Ricci

Presentation at the Eighth IIPPE Annual Conference in Political Economy.
Berlin School of Economics and Law.
Berlin. September 13, 2017


No Mere Tautology: The Division Of Labor Is Limited By The Division Of Labor, Andrew Smyth, Bart J. Wilson 2017 Marquette University

No Mere Tautology: The Division Of Labor Is Limited By The Division Of Labor, Andrew Smyth, Bart J. Wilson

ESI Working Papers

We explore the intersection of growth theory and the theory of the firm with an experiment. Economic growth is possible in our experiment when agents specialize to exploit increasing returns. We find that low opportunity costs are sufficient for Marshallian internal economies, but that Marshallian external economies are slow to emerge in four probing treatment conditions. Transaction costs do not hamper external economies as we anticipated prior to collecting data. When external economies falter, it is because new ideas about the cost and value of more extensive specialization fail to emerge. Ideas are what make further divisions of the division ...


Where Prices Come From, Lester G. Telser 2017 University of Chicago

Where Prices Come From, Lester G. Telser

Lester G Telser

The software industry is the leading example in the economy where revenue depends on the cost of developing a product capable of satisfying many requirements desired by potential customers but does not incur a cost that rises with the number of buyers. Marginal cost is zero. Revenue can increase without increasing the inputs responsible for variable cost, including employment. This explains why inputs in the software industry do not match its growing size.


The Repo Channel Of Cross-Border Lending In The European Sovereign Debt Crisis, Jaime Luque 2017 University of Wisconsin - Madison

The Repo Channel Of Cross-Border Lending In The European Sovereign Debt Crisis, Jaime Luque

Jaime Luque

The question is to understand how repo funding and leverage induce banks to reallocate credit by geography and asset type.


The Credit Scoring And Transmission Channels In The Non-Prime Mortgage Market, Jaime Luque, Timothy Riddiough 2017 University of Wisconsin - Madison

The Credit Scoring And Transmission Channels In The Non-Prime Mortgage Market, Jaime Luque, Timothy Riddiough

Jaime Luque

We provide a theory that rationalizes how credit scoring technologies -- like the ones utilized by non-prime consumer lenders -- controlled the flow of capital into the non-prime mortgage market. The home ownership rate, the source of mortgage capital, mortgage quantities, portfolio credit quality, and house prices are all determined endogenously. Lending regimes are identified and characterized in the context of lending-house price boom and bust. Adverse selection against secondary market investors and income misrepresentation are analyzed as distortions to the transmission of credit quality information.


Equilibrium In Fx Swap Markets: Funding Pressures And The Cross-Currency Basis, Jean-Marc Bottazzi, Jaime Luque, Mario Pascoa 2017 University of Wisconsin-Madison

Equilibrium In Fx Swap Markets: Funding Pressures And The Cross-Currency Basis, Jean-Marc Bottazzi, Jaime Luque, Mario Pascoa

Jaime Luque

    Departure from Covered Interest Parity (CIP), known as the cross currency basis, is not just a staple of crises: it can build up slowly and persist. Some bases exacerbated in 2008 and have not gone away since then. To understand this new normality, we turn the CIP logic on its head. We look at the Foreign Exchange (FX) swap market as the very market where scarce funding capacities are exchanged; the basis becomes an equilibrium outcome that compensates one of the parties for the temporary loss in the possession of one the currencies. Ultimately, the counterparty's funding pressure in ...


Developers, Wall Street And Taxmen, Marta Faias, Jaime Luque 2017 Universidade Nova de Lisboa

Developers, Wall Street And Taxmen, Marta Faias, Jaime Luque

Jaime Luque

We propose a general equilibrium model of commercial real estate (CRE) development in a multi-jurisdictions economy with segmented commercial good and equity markets. The CRE assets' capital structures and cash flows, the prices of equity, debt, and commercial goods, and the jurisdictions' property taxes and land use policies are all endogenous. The capital structures of CRE assets in different jurisdictions are interdependent. Shocks to a developer's funding capacity, the production of a CRE asset, and a jurisdiction's property tax illustrate this result. Our model also captures the impact that global real estate markets have on local jurisdictions' fiscal ...


The Attack And Defense Of Weakest Link Networks, Dan Kovenock, Brian Roberson, Roman M. Sheremeta 2017 Chapman University

The Attack And Defense Of Weakest Link Networks, Dan Kovenock, Brian Roberson, Roman M. Sheremeta

ESI Working Papers

We experimentally test the qualitatively different equilibrium predictions of two theoretical models of attack and defense of a weakest-link network of targets. In such a network, the attacker’s objective is to successfully attack at least one target and the defender’s objective is to defend all targets. The models differ in how the conflict at each target is modeled — specifically, the lottery and auction contest success functions (CSFs). Consistent with equilibrium in the auction CSF model, attackers utilize a stochastic “guerrilla-warfare” strategy, which involves randomly attacking at most one target with a random level of force. Inconsistent with equilibrium ...


Loss Aversion And The Quantity-Quality Tradeoff, Jared Rubin, Anya Samek, Roman M. Sheremeta 2017 Chapman University

Loss Aversion And The Quantity-Quality Tradeoff, Jared Rubin, Anya Samek, Roman M. Sheremeta

ESI Working Papers

Firms face an optimization problem that requires a maximal quantity output given a quality constraint. But how do firms incentivize quantity and quality to meet these dual goals, and what role do behavioral factors, such as loss aversion, play in the tradeoffs workers face? We address these questions with a theoretical model and an experiment in which participants are paid for both quantity and quality of a real effort task. Consistent with basic economic theory, higher quality incentives encourage participants to shift their attention from quantity to quality. However, we also find that loss averse participants shift their attention from ...


A Reexamination Of “The Hidden Return To Incentives”, Jing Davis, Steven Schwartz, Richard Young 2017 Chapman University

A Reexamination Of “The Hidden Return To Incentives”, Jing Davis, Steven Schwartz, Richard Young

Economics Faculty Articles and Research

Prior literature has observed a “hidden return to incentives” where principals receive more cooperation from agents when formal incentives are available but not used than when not available. Previous experiments are replicated using a gift-exchange rather than a trust game. Hidden returns to incentives are not observed, and in fact the results show the opposite. Suggestions for future research are provided.


The Effect Of Paid Sick Leave On Physician Office-Based Visits, Korvin Vicente 2017 CUNY Hunter College

The Effect Of Paid Sick Leave On Physician Office-Based Visits, Korvin Vicente

School of Arts & Sciences Theses

This paper uses a balanced sample of workers from cross-sections of the National Health Interview Survey to estimate the causal effects of paid sick leave on the medical care seeking behavior of individuals, as measured by physician office-based visits.


Reputation And Multilateral Punishment Under Uncertainty, Aidin Hajikhameneh, Jared Rubin 2017 Chapman University

Reputation And Multilateral Punishment Under Uncertainty, Aidin Hajikhameneh, Jared Rubin

ESI Working Papers

Prinicpal-agent problems can reduce gains from exchange available in long distance trade. One solution to mitigate this problem is multilateral punishment, whereby groups of principals jointly punish cheating agents by giving them bad reputations. But how does such punishment work when there is uncertainty regarding whether an agent actually cheated or was just the victim of bad luck? And how might such uncertainty be mitigated—or exacerbated—by nonobservable, pro-social behavioral characteristics? We address these questions by designing a simple modified trust game with uncertainty and the capacity for principals to employ multilateral punishment. We find that a modest amount ...


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