Economics Commons^™

The Effects Of The 1996 U.S.-Canada Softwood Lumber Agreement On The Industrial Users Of Lumber: An Event Study, Nisha Malhotra, Sumeet Gulati

Nisha Malhotra

In this article, we analyze whether the Softwood Lumber Agreement between the United States and Canada imposed significant economic costs on industries that use softwood lumber in the United States. To ascertain this impact, we use an event study. Our event study analyzes variations in the stock prices of lumber-using firms listed at the major stock markets in the United States. We find that the news of events leading to the Softwood Lumber Agreement had significant negative impacts on the stock prices of industries using softwood lumber. The average reduction of stock prices for our sample of firms was approximately …

Black Tuesday And Graying The Legitimacy Line For Governmental Intervention: When Tomorrow Is Just A Future Yesterday, Donald J. Kochan

Donald J. Kochan

Black Tuesday in October 1929 marked a major crisis in American history. As we face current economic woes, it is appropriate to recall not only the event but also reflect on how it altered the legal landscape and the change it precipitated in the acceptance of governmental intervention into the marketplace. Perceived or real crises can cause us to dance between free markets and regulatory power. Much like the events of 1929, current financial concerns have led to new, unprecedented governmental intervention into the private sector. This Article seeks caution, on the basis of history, arguing that fear and crisis …

Lessons Of The Alaska Dividend, Karl Widerquist

Karl Widerquist

At a time when progressive social policies are under attack across the industrialized world, the Alaska Dividend continues to be extremely popular. It distributes a yearly dividend to every man, woman, and child in Alaska without any conditions whatsoever. It has helped Alaska maintain one of the lowest poverty rates in the United States. It has helped Alaska become the most economically equal of all 50 states. And it has helped Alaska become the only U.S. state in which equality has risen rather than fallen over the last 20 years. Certainly Alaska is doing something right. As newsletter editor for …

Book Review: The Street Porter And The Philosopher: Conversations On Analytical Egalitarianism, Karl Widerquist

Karl Widerquist

No abstract provided.

What Drives Food Import Refusals?, Kathy Baylis, Andrea Martens, Lia Nogueira

Kathy Baylis

No abstract provided.

Trade Diversion From Tomato Suspension Agreement, Kathy Baylis, Jeffrey M. Perloff

Kathy Baylis

: Trade barriers can cause output to be diverted to other countries and into other products. We study the effect of a voluntary price restraint (VPR) on Mexican tomatoes entering the United States. The diversion caused by the VPR is statistically and economically significant – representing over four-fifths of the direct effects of the trade barrier. When the VPR was binding, Mexico exported more tomatoes to Canada, the United States cut back on exports while Canada increased their exports to the United States. The VPR also diverted fresh tomatoes in Mexico into paste production, which was then exported to the …

(Re)Scaling Gender And Globalization: Livelihood Strategies In Accra, Ghana, Ann M. Oberhauser

Ann Oberhauser

Salud Y Felicidad En Uruguay, Maximo Rossi, Todd Jewell, Mariana Gerstenblüth

Maximo Rossi

In this paper we study the relationship between individual happiness and self reported health status, using the Religion, Health and Young Emancipation ISSP survey for Uruguay in 2008. Probit estimates suggests that health status has the highest correlation with happiness. In order to control for the observed heterogeneity of this variable, we estimate using matching methods. Results show that reporting a good health rises the probability of being happy between 18 an 29 percentage points. Previous literature support this findings.

Employee Voice And Intent To Leave: An Empirical Evidence Of Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Asghar Ali, Muhammad Irfan Chani, Hashim Khan, Kashif Ur Rehman

Muhammad Irfan Chani

A Note On Causal Relationship Between Fdi And Savings In Bangladesh, Mohammad Salahuddin, Muhammad Shahbaz Shahbaz, Muhammad Irfan Chani

Muhammad Irfan Chani

This paper aims to investigate the causal relationship between foreign direct investment and gross domestic savings in Bangladesh over a period of 1985-2007. In doing so, Johansen cointegration technique and error correction methods are employed to examine the long run and short run relationship between foreign direct investment and gross domestic savings. To determine the direction of causality, we used innovation accounting approach. Results suggest that there exist bi-directional causal relationship between foreign direct investment and gross domestic savings but the movement is stronger from domestic savings to foreign direct investment. The result also implies complimentary relationship between them and …

Comment On Casey Mulligan: Keynes In Both Fresh And Salt Water, Sergio Da Silva

Sergio Da Silva

Casey Mulligan suggested in The Economists' Voice that this recession was caused by "something [that] made real wages high and employment low." This coincides with his own view of the causes of the Great Depression. The similarity inevitably brings back General-Theory-Keynes, according to Da Silva, and justifies the suspicion of some salt water economists that Mulligan is blaming both downturns on laziness.

The Future Of Economics Is Scientific, Sergio Da Silva

Sergio Da Silva

No abstract provided.

Biological Characteristics Modulating Investor Overconfidence, Marcia L. Zindel, Emilio Menezes, Raul Matsushita, Sergio Da Silva

Sergio Da Silva

Applying a standard questionnaire (Lichtenstein and Fischhoff 1977) to a sample of 44 professional investors, we sought for explicit correlations between selected biological characteristics of the investors and the cognitive bias known as overconfidence. We found that both male and female investors showed overconfidence above the subjective probability of 0.7 and underconfidence below this threshold. But the sexes seemed to behave differently when they were totally uncertain of their answers. Experienced and inexperienced investors were overconfident whenever they were 70 percent (or above) confident of their answers. Despite that, experienced investors were relatively more calibrated. Of those who were highly …

Efficiency Of Financial Markets And Algorithmic Complexity, Ricardo Giglio, Sergio Da Silva, Iram Gleria, Adhemar Ranciaro, Raul Matsushita, Annibal Figueiredo

Sergio Da Silva

In this work we are interested in the concept of market efficiency and its relationship with the algorithmic complexity theory. We employ a methodology based on the Lempel-Ziv index to analyze the relative efficiency of high-frequency data coming from the Brazilian stock market.

Does Foreign Aid Promote Growth? Exploring The Role Of Financial Liberalization, James B. Ang

James B Ang

This paper examines the impact of foreign aid on the process of economic development in India by controlling for the degree of financial liberalization. A composite index is constructed using the method of principal component analysis to capture the joint influence of various financial sector policies. The results show that while foreign aid exerts a direct negative influence on output expansion, its indirect effect via financial liberalization is positive. Therefore, an important implication of the findings in this paper is that adequate liberalization in the financial system of the host country is a crucial requirement for effective foreign aid. Our …

Frédéric Ozanam ― Beneficent Deserter: Mediating The Chasm Of Income Inequality Through Liberty, Equality, And Fraternity, Craig B. Mousin

Craig B. Mousin

No abstract provided.

Intellectual Property Training And Education: A Development Perspective, Jeremy De Beer, Chidi Oguamanam

Jeremy de Beer

No abstract provided.

Patent Reforms Must Focus On The U.S. Patent Office, Ron D. Katznelson

Ron D. Katznelson

No abstract provided.