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The Bracero Program In The Arkansas Delta: The Power Held By Planter Elite, William Chase Whittington 2017 University of Arkansas, Fayetteville

The Bracero Program In The Arkansas Delta: The Power Held By Planter Elite, William Chase Whittington

Theses and Dissertations

This paper examines the Bracero Program and its implementation from the start of World War II to the end of the program in 1964. Farmers and planters in America needed a sufficient labor supply once the war started, and Mexico became the main supplier. The Bracero Program was initiated as a war effort and meant to only last until the end of the war, but the planter elite had far different intentions once they realized how productive and inexpensive the program could be. This paper identifies the leading causes for how the Bracero Program was able to last over twenty ...


An Ancient Bankruptcy Solution Makes Economic Sense, Anh H. Ly, Michael Zakharevich, Olga Kosheleva, Vladik Kreinovich 2017 Banking University of Ho Chi Minh City

An Ancient Bankruptcy Solution Makes Economic Sense, Anh H. Ly, Michael Zakharevich, Olga Kosheleva, Vladik Kreinovich

Departmental Technical Reports (CS)

While econometrics is a reasonable recent discipline, quantitative solutions to economic problem have been proposed since the ancient times. In particular, solutions have been proposed for the bankruptcy problem: how to divide the assets between the claimants? One of the challenges of analyzing ancient solutions to economics problems is that these solutions are often presented not as a general algorithm, but as a sequence of examples. When there are only a few such example, it is often difficult to convincingly extract a general algorithm from them. This was the case, for example, for the supposedly fairness-motivated Talmudic solution to the ...


Hedge Fund Performance And Derivative Hedging, Yongjia Li 2017 University of Arkansas, Fayetteville

Hedge Fund Performance And Derivative Hedging, Yongjia Li

Theses and Dissertations

This dissertation is comprised of three essays which focus on hedge fund performance and derivative hedging. The first essay uses ETF returns as proxies for tradable risk factors in hedge fund performance evaluation and identifies contemporaneously relevant risk factors from the entire universe of ETFs. The model provides more informative estimates of alpha and beta coefficients for predicting hedge fund out-of-sample performance compared with other widely used hedge fund factor models. Portfolios of top alpha hedge funds selected by the model generate statistically significant out-of-sample performance that is substantially higher compared with portfolios selected by other models. In addition, the ...


Effects Of Upward Football Reclassification On Revenues, Football Attendance, And Enrollment, Charles Bell 2017 University of Arkansas, Fayetteville

Effects Of Upward Football Reclassification On Revenues, Football Attendance, And Enrollment, Charles Bell

Theses and Dissertations

With an ever increasing chasm between the have and have nots in college athletics, athletic directors and university administrators view reclassification as a way to increase financial standing and gain valuable exposure for their school despite mixed findings by recent studies. The process of reclassification costs schools sizable financial and labor investments detracting from their academic endeavors. The schools at the highest level of collegiate football competition enjoy constant national television exposure for their school resulting in many direct and indirect benefits. A repeated measures ANOVA was utilized to assess the change in athletic department revenues, student enrollment and football ...


Response Of Fiscal Policy To Foreign Aid: Estimation Of Impulse Response Functions By Local Projections, Baqir Fateh 2017 University of Arkansas, Fayetteville

Response Of Fiscal Policy To Foreign Aid: Estimation Of Impulse Response Functions By Local Projections, Baqir Fateh

Theses and Dissertations

Does foreign foreign aid make the recipient governments spendthrift or fiscally prudent or neither? In other words, does aid resources discourage domestic revenue mobilization and stimulate government recurrent expenditure rather than funneling the resources in to long-term development projects? Empirical studies on fiscal response behavior of aid receiving governments have not offered a categorical answer yet. Results of previous studies mainly fall into the three categories - "yes", "no" and "neither". By revisiting this topic, the main contribution of current study could be the application of a newly developed time series technique - estimation of Impulse Response Functions by Local Projections - for ...


Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion 2017 Siemans Industry, Mpls

Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion

Leigh Tesfatsion

This study investigates the effects of dynamic-price retail contracting on end-to-end power system operations. Performance is evaluated by means of carefully defined metrics for system stability, market efficiency, and market participant welfare. The study is carried out for an Integrated Retail and Wholesale (IRW) Test Case for which households have smart (price-responsive) air-conditioning (A/C) systems. A simplified version of the IRW Test Case with a directly postulated linear household demand curve is first used to derive, analytically, a set of necessary and sufficient conditions for system stability under dynamic-price retail contracting. A key finding is that dynamicprice retail contracts ...


The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. McPhail, Nathan Rodriguez, Peter Orazem 2017 Iowa State University

The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. Mcphail, Nathan Rodriguez, Peter Orazem

Peter F. Orazem

Mandatory stress testing has been acclaimed by banking regulators as a key response to preventing future financial crises. Each year banks in the United States with over $50 Billion in assets must perform a Comprehensive Capital Analysis and Review (CCAR) . Banks with over $10 Billion are subject to Dodd-Frank Act Stress Testing (DFAST). This study examne the relative importance of international or national macroeconomic shocks, state-level shocks, and idiosyncratic shocks on mortgage rate charge-offs for the universe of all banks for the 2002-2014 period. We find tha banks with over $10 billion in assets have charge-off rates that are very ...


Food For Fuel: The Effect Of The Us Biofuel Mandate On Poverty In India, Ujjayant N. Chakravorty, Marie-Hélène Hubert, Beyza Ural Marchand 2017 University of Alberta

Food For Fuel: The Effect Of The Us Biofuel Mandate On Poverty In India, Ujjayant N. Chakravorty, Marie-Hélène Hubert, Beyza Ural Marchand

Ujjayant Chakravorty

More than 40% of US grain is used for energy due to the Renewable Fuels Mandate (RFS). There are no studies of the global distributional consequences of this purely domestic policy. Using micro-level survey data, we trace the effect of the RFS on world food prices and their impact on household level consumption and wage incomes in India. We first develop a partial equilibrium model to estimate the effect of the RFS on the price of selected food commodities - rice, wheat, corn, sugar and meat and dairy, which together provide almost 70% of Indian food calories. Our model predicts that ...


Informality, Labor Regulation, And The Business Cycle, Carlos Urrutia, Gustavo Leyva 2017 Banco de México

Informality, Labor Regulation, And The Business Cycle, Carlos Urrutia, Gustavo Leyva

Carlos Urrutia

We analyze the joint impact of employment protection and informality on macroeconomic volatility and the propagation of shocks in emerging economies. For this, we propose a small open economy business cycle model with frictional labor markets, employment protection and an informal sector, modeled as self-employment. The model is calibrated to the Mexican economy, in particular to business cycle moments for employment and informality obtained from our own calculations with the ENOE survey. We show that interest shocks, which affect specifically job creation in the formal sector, are key to obtain a counter-cyclical informality rate. In our model, confronted with similar ...


Cross-Listed Securities And Multiple Exchange Memberships, Marta Faias, Jaime Luque 2017 Universidade Nova de Lisboa

Cross-Listed Securities And Multiple Exchange Memberships, Marta Faias, Jaime Luque

Jaime Luque

The previous literature on general equilibrium has assumed that all traders belong to a single market. However, traders often participate in more than one exchange to diversify their portfolios. Moreover, there is evidence that the security listings of exchanges overlap. Our model captures these facts: there are multiple exchanges, the same security is listed in different exchanges, and traders can belong to more than one exchange. We show that, in the presence of convex transaction costs, there exists an equilibrium, and that individual demand is a continuously differentiable function in prices.


Cross-Border Residential Mortgage Lending: Theory And Evidence From The European Sovereign Debt Crisis, Jaime Luque 2017 University of Wisconsin - Madison

Cross-Border Residential Mortgage Lending: Theory And Evidence From The European Sovereign Debt Crisis, Jaime Luque

Jaime Luque

We examine bank strategies to rebalance residential mortgage portfolios toward other geographical regions in the context of the European sovereign debt crisis. For banks in Greece, Ireland, Cyprus, Italy, Portugal, and Spain (GICIPS), we find evidence of flight-to-quality if banks were undercapitalized and had high funding cost, and evidence of risky-lending if banks were undercapitalized but without funding problems. For banks in core safe European countries, we find evidence of flight-to-quality among banks with high capital ratios, and risky-lending among banks with low funding cost. We rationalize these empirical results with a general equilibrium model of cross-border mortgage lending.


How To Enhance Interdisciplinary Competence—Interdisciplinary Problem-Based Learning Versus Interdisciplinary Project-Based Learning, Mirjam Brassler, Jan Dettmers 2017 University of Hamburg

How To Enhance Interdisciplinary Competence—Interdisciplinary Problem-Based Learning Versus Interdisciplinary Project-Based Learning, Mirjam Brassler, Jan Dettmers

Interdisciplinary Journal of Problem-Based Learning

Interdisciplinary competence is important in academia for both employability and sustainable development. However, to date, there are no specific interdisciplinary education models and, naturally, no empirical studies to assess them. Since problem-based learning (PBL) and project-based learning (PjBL) are learning approaches that emphasize students’ collaboration, both pedagogies seem suitable to enhance students’ interdisciplinary competence. Based on the principle of constructive alignment and four instructional principles on interdisciplinary learning, this paper proposes that students profit more from interdisciplinary PBL (iPBL) than interdisciplinary PjBL (iPjBL). A pre-post study was conducted with a sample of 95 students participating in iPBL and 183 students ...


The Scarring Effects Of Youth Joblessness In Sri Lanka, Murali Kuchibhotla, Peter F. Orazem, Sanjana Ravi 2017 Explore Information Services

The Scarring Effects Of Youth Joblessness In Sri Lanka, Murali Kuchibhotla, Peter F. Orazem, Sanjana Ravi

Economics Working Papers

Retrospective data on labor market spells for successive cohorts of school leavers in Sri Lanka are used to examine whether early spells of joblessness lead to subsequent difficulty in finding or keeping a job. A matching method based on the Joffee and Rosenbaum (1999) balancing score approach is used to generate pairs of school leavers that have similar expected levels of joblessness but that differ in realized levels of joblessness. Assuming that youth are not able to perfectly control whether they are employed or not employed, we argue that marginal differences in joblessness between otherwise observationally equivalent youth can be ...


Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion 2017 Siemans Industry, Mpls

Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion

Economics Working Papers

This study investigates the effects of dynamic-price retail contracting on end-to-end power system operations. Performance is evaluated by means of carefully defined metrics for system stability, market efficiency, and market participant welfare. The study is carried out for an Integrated Retail and Wholesale (IRW) Test Case for which households have smart (price-responsive) air-conditioning (A/C) systems. A simplified version of the IRW Test Case with a directly postulated linear household demand curve is first used to derive, analytically, a set of necessary and sufficient conditions for system stability under dynamic-price retail contracting. A key finding is that dynamicprice retail contracts ...


Exchange Rate Induced Export Quality Upgrading: A Firm-Level Perspective, David C. Parsley, yong Tang, Cui hu 2017 Nanjing University, China

Exchange Rate Induced Export Quality Upgrading: A Firm-Level Perspective, David C. Parsley, Yong Tang, Cui Hu

David C. Parsley

This paper explores the impact of exchange rate fluctuations on exported product quality.
Existing studies of quality upgrading stress the link between home country depreciation and increased access to export markets. Our focus in this study is on the complimentary effect of an import currency appreciation (i.e., the domestic currency appreciates relative to the sourcing country’s currency). Our main finding is that firms upgrade their export quality in response to an import currency appreciation. We first develop a partial equilibrium model to reveal the mechanism: an import currency appreciation that makes imported intermediates cheaper allows firms to switch ...


Farm Management Surveys In Black Hawk, Grundy And Tama Counties, Iowa, H. B. Munger 2017 Iowa State College

Farm Management Surveys In Black Hawk, Grundy And Tama Counties, Iowa, H. B. Munger

Bulletin (Iowa Agricultural Experiment Station)

The average labor income of 965 farmers in Black Hawk, Grundy and Tama counties in 1913 was $306 and the return on investment 4.1 percent. In the same area the average labor income of 210 farmers in 1918 was $1,382 and the return on investment 6.3 percent. War prices for farm products were the cause for the larger labor incomes the latter year.

Thirty-five percent of the farmers in 1913 and 19.2 percent in 1918 had minus labor incomes; 4.3 percent of the farmers in 1913 and 33.6 percent in 1918 had labor incomes ...


Willingness-To-Pay Vs. Willingness-To-Accept: Legal And Economic Implications,, Elizabeth Hoffman, Matthew L. Spitzer 2017 Iowa State University

Willingness-To-Pay Vs. Willingness-To-Accept: Legal And Economic Implications,, Elizabeth Hoffman, Matthew L. Spitzer

Elizabeth Hoffman

Do people value commodities more when they own the commodities than when they do not? Although economic models generally presume that economic agents evaluate commodities independently of whether the agents own those commodities--the "basic independence" assumption researchers in economics and law are starting to doubt whether this assumption is true. Doubts about the soundness of the basic independence assumption challenge accepted economic doctrines. Most theoretical and applied models in economics use the basic independence assumption both to predict and to assess the operation of markets. In the relatively new discipline that combines law and economics, the basic independence assumption produces ...


Experimental Economics, Elizabeth Hoffman 2017 Iowa State University

Experimental Economics, Elizabeth Hoffman

Elizabeth Hoffman

"Experimental economics" is a general term for the experimental laboratory approach to studying economic institutions. Most applied economists study economic institutions by observing the way in which they operate in the naturally occurring environment and by measuring such economic variables as the prices of good sand services, the quantities of goods and services that are bought and sold, the wages that are paid to workers, and the quantities of inputs and outputs in the production of goods and services.


Introduction: What Have We Learned About Academic Leadership, Elizabeth Hoffman 2017 Iowa State University

Introduction: What Have We Learned About Academic Leadership, Elizabeth Hoffman

Elizabeth Hoffman

When Bob Sternberg embarked on this project in May of 2013, I was nearing the end of a year's administrative leave after stepping down from my fifth major administrative position, an administrative career spanning twenty-three years. My latest position was a five-year term s executive vice president and provost at Iowa State University. I had been one of the Big XII provosts who formed the original set of contributors to this important book.


An Empirical Application Of Laboratory Experimental Auctions In Marketing Research, Dale J. Menkhaus, George W. Borden, Glen D. Whipple, Elizabeth Hoffman, Ray A. Field 2017 University of Wyoming

An Empirical Application Of Laboratory Experimental Auctions In Marketing Research, Dale J. Menkhaus, George W. Borden, Glen D. Whipple, Elizabeth Hoffman, Ray A. Field

Elizabeth Hoffman

A laboratory experimental auction was used to determine factors influencing the relative value consumers place on alternative retail beef packaging. Results indicate information is very important for the successful introduction and marketing of the vacuum skin package. Physical appearance of the beef plays a major role in purchasing decisions by consumers, with fat and shape significantly decreasing the value of beef in the vacuum skin package relative to beef in the overwrapped styrofoam tray package. Experimental economics procedures, when combined with traditional marketing research techniques, can provide useful information for marketing decisions and economic analyses.


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