Economics Commons^™

Copula Modelling Of Dependence In Multivariate Time Series, Michael S. Smith

Michael Stanley Smith

Cyclical Downturn Or Structural Disease? The Decline Of The Italian Economy In The Last Twenty Years, Enrico Saltari, Giuseppe Ciccarone

Enrico Saltari

Italy is experiencing at present the most serious economic recession of the post-war period. Between 2008 and 2013 national income fell by 9 per cent, per capita incomes by 11 per cent, and industrial production by 25 per cent; and unemployment doubled. In this essay we argue that, while this dramatic situation has been made worse by the policies of ‘expansive austerity’, its origins can be traced back to changes that took place in the 1990s (notably globalization, competition for emerging new markets and the diffusion of new technologies – ICT) to which Italy failed to react speedily or effectively …

Lessons From The U.S. Great Depression And The German Hyperinflation, Lester G. Telser

Lester G Telser

Abstract. The German hyperinflation and the U.S. Great Depression have in common the effects of an insufficient amount of useful media of exchange. In Germany too much currency was printed and in the U.S. widespread bank failures undermined confidence in all demand deposits so all bank checks were regarded suspiciously. The effects were the same in both countries, very high rates of unemployment coupled with collapse of their economies. The German Hyperinflation gives evidence against the Phillips Curve. JEL E65 Study of Particular Policy Episodes

Non Profit Suppliers Of Higher Education: Corollaries, Lester G. Telser

Lester G Telser

The American Association for the Advancement of Science bills Harvard University $26,675 for a one year subscription to their weekly publication Science. That anon profit suppliers of higher education is willing to pay such amounts far above the true incremental cost of supplying it with such publications is a corollary of the economic explanation of their behavior. Nonprofit Organizations JEL L30

Digital Storage In The Computer Age And The Irish Potato Famine, Lester G. Telser

Lester G Telser

Assessing 'Green Energy Economy' Stimulus Packages: Evidence From The U.S. Programs Targeting Renewable Energy, L. Mundaca T., J. Luth-Richter

Luis Mundaca

The paper provides a comprehensive empirical assessment of American stimulus policies aimed at renewable energy (RE) technologies. We use an indicator-based methodology to assess progress with respect to energy, environmental and socio-economic issues resulting from RE stimulus programs linked to the American Recovery and Reinvestment Act, and review and analyze the emerging but scattered literature. Overall, our results indicate that stimulus programs have had a positive effect on the RE sector. This is despite the fact that they were originally planned to work in combination with a greenhouse gas ‘cap-and-trade’ system, which has not been implemented. From the methodological perspective, …

Assessing The Effectiveness Of The ‘Green Economic Stimulus’ In South Korea: Evidence From The Energy Sector, L. Mundaca T., B. Damen

Luis Mundaca

The purpose of this paper is to provide an ex-post evaluation of the effectiveness of the South Korean Green New Deal (GND) as an instrument to deliver both an economic recovery and improved environmental performance. We use the energy sector as the main scope for our analysis when measured against climate-related indicators (e.g. CO2 emissions, energy intensity, share of renewable energy in supply mix) adopted by the South Korean government as part of a broader commitment to green growth. The research involves complimentary methods to assess the economic and environmental effectiveness of the GND at the macro-level; including the so-called …

How Smart Are Electricity Users With ‘Smart Metering’? A Behavioural Economics Experiment, S. Bager, L. Mundaca T.

Luis Mundaca

The purpose of this paper is to examine how behavioural biases affect consumers’ response to energy-use information provided through smart meters (SM). We take insights from behavioural economics and carry out two real-life experiments with SMs and electricity users. The experiments were conducted in Copenhagen (Denmark) to identify and assess the potential of two economic behavioural biases, salience and loss aversion. The results of the first experiment (i.e. installation of SM without further intervention) generally aligned with electricity use reductions found in previous research, and indicate that it may be reasonable to expect a reduction in electricity use in the …

Beliefs, Institutions, And Learning: A New Order For The New Global Economy?, Sumru G. Altug

SUMRU G ALTUG

No abstract provided.

Syllabus Inr 3061 (U01): Conflict, Security, And Peace In International Relations (Fall 2015), Lukas K. Danner

Dr. Lukas K. Danner

Syllabus Inr 3703 (U05): International Political Economy (Fall 2015), Lukas K. Danner

Dr. Lukas K. Danner

Law In Regression? Impacts Of Quantitative Research On Law And Regulation, David C. Donald

David C. Donald

Quantitative research (QR) has undeniably improved the quality of law- and rulemaking, but it can also present risks for these activities. On the one hand, replacing anecdotal assertions regarding behavior or the effects of rules in an area to be regulated with objective, statistical evidence has advanced the quality of regulatory discourse. On the other hand, because the construction of such evidence often depends on bringing the complex realities of both human behavior and rules designed to govern it into simple, quantified variables, QR findings can at times camouflage complexity, masking real problems. Deceptively objective findings can in this way …

A Model To Evaluate Vehicle Emission Incentive Policies In Japan, Don Fullerton, Li Gan, Miwa Hattori

Don Fullerton

Using 3 years of data from the 47 prefectures of Japan, we estimate the behavior of households that simultaneously make discrete decisions about vehicle ownership and continuous decisions about driving distance. We use the estimated parameters to calculate elasticities and to simulate the effects of alternative pollution control policies such as taxes on gasoline, distance, or particular cars. Given choices about cars and distance, we also calculate emissions. Since we model simultaneous choices, both the chosen distance and the chosen car can be affected either by a tax on distance or by a tax on car characteristics. We find expected …

Working Paper, Kyle S. Herman

Dr. Kyle S. Herman

Role Of Intelligence Inputs In Defending Against Cyber Warfare And Cyber Terrorism, Aniruddha Bagchi

Aniruddha Bagchi

No abstract provided.

"Dual Agent Distortions In Real Estate Transactions", Ken Johnson, Zhenguo Lin, Jia Xie

Jia Xie

It's All In The Mail: The Economic Geography Of The German Empire, Florian Ploeckl

Florian Ploeckl

Free Economy! On 3628800 Alternatives Of And To Capitalism, Steffen Roth

Prof. Dr. Dr. Steffen Roth

Even the sharpest problem focus cannot help but sharpen the problem. Thus, the key to our understanding of alternatives to capitalism and alternative forms of capitalism is not in the ongoing problematization of the dominance of the economic principle. Rather, the question addressed in the present form theoretical argument is about which distinctions we need to draw in order to be able to observe capitalism. Answering this question, we show that the form capitalism can only be unfolded in the medium of functional differentiation. In resituating the economy as only one out of ten function systems, we demonstrate that both …

Innovation And Degrowth, Steffen Roth, Miguel Perez-Valls, Jari Kaivo-Oja

Prof. Dr. Dr. Steffen Roth

Innovation is essential for economic growth. The dominant view therefore is that innovation and human development are inseparable. However, ecological economists have argued that an insatiable appetite for the creative destruction leads to the self-destruction of humankind. The key component of the growth engine (Jackson, 2011), innovation, constantly renovates the iron cage of consumerism that eventually consumes the planet to excess (Urry, 2010), while popular attempts to link innovation and sustainability constantly fail to green the economy as they do not challenge the overall functionality of the growth engine (Schneider et al., 2010; van Griethuysen, 2010). Innovation is therefore considered …

Toward More General Hedonic Estimation: Clarifying The Roles Of Alternative Experimental Designs With An Application To A Housing Attribute, Michael D. Eriksen, Thomas Kniesner, Christopher Rohlfs, Ryan Sullivan

Michael D Eriksen

Our research develops a more general hedonic model in which an exogenous shock to a single product attribute can affect other attributes, the markets for the product’s complements and substitutes, and aggregate quantity produced. The factors are shown to be empirically relevant and to cause bias in traditional approaches. Experimental estimators of attribute demand are introduced that address biases, are transparent, and are straightforward to implement. We apply one of the estimators developed to measure the marginal value placed by householders on subsidized carbon monoxide detectors.