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The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza 2010 San Jose State University

The Persistence Of Accounting Versus Economic Profit, Matthew J. Holian, Ali M. Reza

Faculty Publications

Drawing on Schumpeterian theory, this article presents estimates of a first-order autoregressive model of profit persistence for large US firms, using Economic Value Added (EVA), the popular measure of profits produced by Stern Stewart and Company, and simple (unadjusted) accounting measures from the Compustat database. We hypothesize about the differences we should expect to find between these two sets of estimates, and also provide a fresh normative assessment of the dynamic competitiveness of the US economy.


Roads: Leading Indicators Show Ramp-Up In Activity, SHISHIR MATHUR, Kunal Katara 2010 San Jose State University

Roads: Leading Indicators Show Ramp-Up In Activity, Shishir Mathur, Kunal Katara

Faculty Publications, Urban and Regional Planning

No abstract provided.


2010-2 A Property Of Solutions To Linear Monopoly Problems, Gregory Pavlov 2010 Western University

2010-2 A Property Of Solutions To Linear Monopoly Problems, Gregory Pavlov

Department of Economics Research Reports

No abstract provided.


Private Giving Crowding Government Funding In Public Higher Education, G. Thomas Sav 2010 Wright State University - Main Campus

Private Giving Crowding Government Funding In Public Higher Education, G. Thomas Sav

Economics Faculty Publications

Problem Statement:

Private giving and government funding are critical revenue sources for public colleges and universities. If increased private giving reduces government funding, then that type and extent of crowding out carries important managerial and public policy implications.

Approach:

The study used a government funding reaction function and an instrumental variable approach to empirically estimate the potential for crowding out.

Results:

The study examined the extent to which private giving reduces or crowds out state government funding of public colleges and universities. Government free riding was at question and investigated to determine how active it is in terms of private …


The Role And Significance Placed On Corporate Social Responsibility In The Hotel Industry In The South West Region Of Ireland., Shirley Millar 2010 Department of Tourism and Hospitality, Cork Institute of Technology, Cork, Ireland.

The Role And Significance Placed On Corporate Social Responsibility In The Hotel Industry In The South West Region Of Ireland., Shirley Millar

Theses

This research sets out to examine the concept of Corporate Social Responsibility in the context of the hotel industry, with a specific focus on Ireland and the South West Region. The study looked at the level of importance placed on CSR by both the hotel consumer and the hotel industry. The study also sought to determine the relevance of CSR as a source of competitive advantage

Interest in the practice of Corporate Social Responsibility (CSR) has become increasingly prominent in recent years. There has been a shift in practice from companies doing good to be seen to be doing good, …


Exchange Rate Pass Through Into Domestic Prices In Mainland China, Xiangyu Zhang 2010 Edith Cowan University

Exchange Rate Pass Through Into Domestic Prices In Mainland China, Xiangyu Zhang

Theses : Honours

The present study sets up an empirical framework to study the exchange rate pass through (ERPT) issue in China's domestic markets, within the Chinese economic reform period from 1978 till present. The results show a relative low degree of pass-through to consumer and retail prices, but high degree of pass-through to producer and purchasing prices. It suggests that the degree of ERPT tends to diminish along the price chain. In addition, the results also show an increasing trend of the degree of ERPT in recent years. The speed of price reaction to exchange rate shocks may be quicker in recent …


Coastal Empire Economic Monitor, 1st Quarter, 2010, Armstrong Atlantic State University Center for Regional Analysis 2010 Georgia Southern University

Coastal Empire Economic Monitor, 1st Quarter, 2010, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.


Coastal Empire Economic Monitor, 3rd Quarter, 2010, Armstrong Atlantic State University Center for Regional Analysis 2010 Georgia Southern University

Coastal Empire Economic Monitor, 3rd Quarter, 2010, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.


Review Of Keynes And Macroeconomics After 70 Years: Critical Assessments Of The General Theory, John B. Davis 2010 Marquette University

Review Of Keynes And Macroeconomics After 70 Years: Critical Assessments Of The General Theory, John B. Davis

Economics Faculty Research and Publications

No abstract provided.


Estimation Of High-Frequency Volatility: An Autoregressive Conditional Duration Models Approach, Yiu Kuen Tse, Tao Yang 2010 Singapore Management University

Estimation Of High-Frequency Volatility: An Autoregressive Conditional Duration Models Approach, Yiu Kuen Tse, Tao Yang

Research Collection School Of Economics

We propose a method to estimate the intraday volatility of a stock by integrating the instantaneous conditional return variance per unit time obtained from the autoregressive conditional duration (ACD) models. We compare the daily volatilities estimated using the ACD models against several versions of the realized volatility (RV) method, including the bipower variation realized volatility with subsampling, the realized kernel estimate and the duration-based realized volatility. The ACD volatility estimates correlate highly with and perform very well against the RV estimates. Our Monte Carlo results show that our method has lower root mean-squared error than the RV methods in most …


Prospects For A Rim County Population Rebound: Can Quality Of Place Lure In-Migrants?, David Vail 2010 Bowdoin College

Prospects For A Rim County Population Rebound: Can Quality Of Place Lure In-Migrants?, David Vail

Maine Policy Review

David Vail asks whether population will rebound in Maine’s rural “rim” counties and whether investing to enhance “quality of place” can attract large numbers of rural settlers. Review of the evidence suggests that Maine’s rim counties are not experiencing a population rebound and that rural counties vary greatly in their ability to hold onto existing residents or attract new ones. Vail argues that quality-of-place investments should not be considered as a core development tool for rural areas, but that they can complement traditional rural economic policy measures. Since it is difficult to stimulate a major population movement to Maine’s rim …


Making Mountains Of Debt Out Of Molehills: The Pro-Cyclical Implications Of Tax And Expenditure Limitations, Mathew D. McCubbins, Ellen Moule 2010 Duke Law School

Making Mountains Of Debt Out Of Molehills: The Pro-Cyclical Implications Of Tax And Expenditure Limitations, Mathew D. Mccubbins, Ellen Moule

Faculty Scholarship

This paper presents evidence that property tax limits have detrimental effects on state and local revenues during recessions. Property tax limits cause states to rely on income–elastic revenue sources, such as the income tax or charges and fees. Greater reliance on these revenue sources results in greater revenue declines during economic downturns. We present analysis of time–series, cross–sectional data for the U.S. states for each of these conclusions. Our results suggest that states would have fewer and more modest financial problems during economic downturns if they did not enact property tax limitations.


What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai 2010 Dartmouth College

What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai

Dartmouth Scholarship

This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty …


Club Goods And Group Identity: Evidence From Islamic Resurgence During The Indonesian Financial Crisis, Daniel L. Chen 2010 Duke Law School

Club Goods And Group Identity: Evidence From Islamic Resurgence During The Indonesian Financial Crisis, Daniel L. Chen

Faculty Scholarship

This paper tests a model in which group identity in the form of religious intensity functions as ex post insurance. I exploit relative price shocks induced by the Indonesian financial crisis to demonstrate a causal relationship between economic distress and religious intensity (Koran study and Islamic school attendance) that is weaker for other forms of group identity. Consistent with ex post insurance, credit availability reduces the effect of economic distress on religious intensity, religious intensity alleviates credit constraints, and religious institutions smooth consumption shocks across households and within households, particularly for those who were less religious before the crisis.


Anger, Irony, And The Formal Rationality Of Professionalism, Ajay K. Mehrotra 2010 Indiana University Maurer School of Law

Anger, Irony, And The Formal Rationality Of Professionalism, Ajay K. Mehrotra

Articles by Maurer Faculty

No abstract provided.


Lawyers, Guns & Public Monies: The U.S. Treasury, World War One, And The Administration Of The Modern Fiscal State, Ajay K. Mehrotra 2010 Indiana University Maurer School of Law

Lawyers, Guns & Public Monies: The U.S. Treasury, World War One, And The Administration Of The Modern Fiscal State, Ajay K. Mehrotra

Articles by Maurer Faculty

The First World War was a pivotal event for American political and economic development, particularly in the realm of public finance. For it was during the war years that the federal government ended its traditional reliance on regressive import duties and excise taxes as principal sources of revenue and began a modern era of fiscal governance, one based primarily on the direct and progressive taxation of personal and corporate income. Like other aspects of war mobilization, this fiscal revolution required an enormous infusion of national administrative resources. Nowhere was this more evident than within the corridors of the U.S. Treasury …


Sascha Vitzhum, Jim Browne (Interviewer) 2010 WGLT

Sascha Vitzhum, Jim Browne (Interviewer)

Interviews for WGLT

Jim Browne interviews Assistant Professor Sascha Vitzhum about virtual worlds, economics and marketing. (requires RealPlayer)


The General Equilibrium Incidence Of Environmental Mandates, Garth Heutel, Don Fullerton 2010 Georgia State University

The General Equilibrium Incidence Of Environmental Mandates, Garth Heutel, Don Fullerton

ECON Publications

Pollution regulations affect factor demands, relative returns, production, and output prices. In our model, one sector includes pollution as an input that can be a complement or substitute for labor or capital. For each type of mandate, we find conditions where more burden is on labor or on capital. Stricter regulation does not always place less burden on the better substitute for pollution. Also, restrictions on pollution per unit output create an “output-subsidy effect” on factor prices that can reverse the usual output and substitution effects. We find analogous effects for a restriction on pollution per unit capital.


A New Paradigm For Property Taxation In Developing Countries, Roy W. Bahl, Sally Wallace 2010 Georgia State University

A New Paradigm For Property Taxation In Developing Countries, Roy W. Bahl, Sally Wallace

ECON Publications

The property tax is almost everyone’s choice for the principal local government tax revenue source in developing countries. The focus of public policy on this tax and the interest it has drawn from public finance scholars and practitioners are evidence of its importance.1 Moreover, both external donors and national governments have invested significant money in strengthening its administration. Despite all of the good work that has been done in designing more efficient property tax structures and administrations, property tax revenues still account for less than 1 percent of gross domestic product (GDP) and less than 4 percent of all tax …


Conditional Vs. Unconditional Grants: The Case Of Developing Countries, Roy W. Bahl 2010 Georgia State University

Conditional Vs. Unconditional Grants: The Case Of Developing Countries, Roy W. Bahl

ECON Publications

Because subnational government taxation is not a viable option in many low-income countries, the financing of decentralized services often comes down to the choice between an unrestricted grant and one with conditions laid down by the higher level government. The central policy question that arises, and is explored in this paper, is how this choice does or does not compromise the success of fiscal decentralization.

We begin with some definitional issues and with empirical evidence about the revenue dependence on transfers in low income vs. OECD countries. Then we discuss the theoretical and practical advantage of conditional grants vs. unconditional …


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