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The Dorian Gray Phenomenon In Financial Markets, Ajay Makhija

Asian Management Insights

Looking at the current state of the global economy and the extent of financial market hedonism through the lens of Oscar Wilde’s “The Picture of Dorian Gray”.

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Documenting Current Practices Of Accommodating Linguistic Needs Of Deaf Defendants, Beau Shine

Midwest Social Sciences Journal

Deaf defendants are an underexamined population in criminal justice research, and very few studies have examined their involvement in the criminal justice system. In addition, research on accommodating the linguistic needs of deaf defendants is sparse. Failure to accommodate the linguistic needs of deaf defendants presents several concerns, including disparate treatment and violations of ADA-guaranteed rights that may lead to inadmissible evidence, dismissals of cases, and not-guilty verdicts, as well as lawsuits and litigation, all of which create additional strain on an already overburdened system. The current study combines previous research on deaf defendants with the findings of data gathered …

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Authors' Biographical Notes, Mssj Staff

Midwest Social Sciences Journal

No abstract provided.

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Elfrieda Lang: The Difficult Career Path Of A German American Female Indiana Historian, Bruce Bigelow

Midwest Social Sciences Journal

Despite not going to high school, a German American woman became a major published history scholar, an assistant editor of the state history journal, and curator of special collections at a prestigious library in an era of patriarchy in the American history profession.

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Michael Lewis’S The Undoing Project: A Friendship That Changed Our Minds, David Mcclough

Midwest Social Sciences Journal

The Undoing Project examines the relationship between two psychologists, Amos Tversky and Daniel Kahneman, whose work altered how we understand the functioning of the mind. In this book, Lewis embarks on a journey to understand and explain psychological research to a popular audience. Lewis is an expert writer who knows what sells books. The Undoing Project is an informative, entertaining, and quick read. Lewis has produced a well-researched book that is accessible to a broad audience.

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Political Corruption And Mergers And Acquisitions, Nam H. Nguyen, Hieu V. Phan, Thuy Simpson

School of Economics and Finance Faculty Publications

This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to the likelihood of deal completion. Corruption motivates acquiring firms to use excess cash for payment, which mitigates the negative effect of corruption on acquirer shareholder value. The evidence indicates that acquisitions help acquiring firms convert cash into hard-to-extract assets and relocate assets from the high to low corruption areas, thereby shielding their liquid assets from expropriation by local officials.

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The Impact Of Foreign Direct Investment On The Ecological Footprints Of Nations, Nadia Doytch

Ateneo School of Government Publications

We study the effects of foreign direct investment (FDI) on the rate of exhaustion of bioproductive physical land. We test for differential ecological performance of FDI in developed vs. developing countries, as well as in “clean” vs. “dirty” sectors. We examine the impact of six sector-level FDI flows on four ecological footprints (EF): Consumption EF, Production EF, Imports EF, and Exports EF, compiled by the Global Footprint Network. We estimate a dynamic panel model incorporating an Environmental Kuznets Curve (EKC) and differentiating across country development levels. The findings are intriguing. First, High Income countries tend to …

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The Potential Impacts Of Covid-19 On The Global Value Chains: Gvc Positioning And Linkages, Gerald Foong, Pao-Li Chang

Research Collection School Of Economics

Apart from the public health crisis entailed by the Coronavirus Disease 2019 (COVID-19) pandemic, it has also propagated a pandemic-induced economic shock globally. One transmission channel is via the inter-country linkages arising from the trade in intermediate inputs, which is a pertinent characteristic of global value chains (GVCs), and resulting in a "supply-chain contagion" as termed by Baldwin and Tomiura (2020). In this paper, we propose measures of bilteral downstreamness and upstreamness, the extent of a country's GVC participation, and the position of a country in GVCs by leveraging upon the gross export decomposition framework as laid out by Borin …

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Macroeconomic Aspects Of Maintenance Optimization Of Critical Infrastructures, S. A. Timashev, A. V. Bushinskaya

Engineering Management & Systems Engineering Faculty Publications

The main goal of maintenance is prevention, timely detection and elimination of failures and damage. From the point of view of critical infrastructures (CIs), the main purpose of their maintenance is to increase the safety of CIs and / or to ensure life safety. CIs should be optimal in terms of their purpose, cost, as a source of income and profit at all stages of their life cycle, and also acceptable in terms of possible loss of human lives or injuries. The paper considers the assessment of necessary optimal investments in the maintenance (time interval between subsequent maintenance), to increase …

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Islamic Labeled Firms: Revisiting Dow Jones Measure Of Compliance, Ahmed Elnahas, Ghada Ismail, Rwan El-Khatib, M. Kabir Hassan

School of Economics and Finance Faculty Publications

Billions of dollars, across 131 countries, are invested in Islamic law‐compliant funds that are often promoted as consistent with the spirit and overall objectives of Islam (Maqasid Al‐Sharia), thereby indicating they are more socially responsible, less risky, and less prone to failure. The empirical results of this study indicate that Shariah‐compliant firms identified by the Dow Jones do not have higher corporate social responsibility (CSR) scores, lower risk, or lower likelihood of failure than non‐compliant firms. We address endogeneity using the instrumental variable (IV) approach and selection bias using propensity score matching (PSM). Our results are similar when using the …

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The ‘Dark Power’ Of Instagram: Prospects And Threats For Tourism Organisations, Nicola Capolupo, Valerio Giampaola, Gabriella Piscopo

International Journal of Islands Research

The key to understand and analyse the dynamic relationship between territories, organisations and tourists is currently undergoing significant changes. Due to both their endogenous and exogenous factors, territories should be read as complex adaptive systems (CAS), i.e. systems structurally composed of different sub-systems which interact with each other and help to improve the central systems thanks to the interconnections established among themselves. Thus, in this scenario, territories evolve into potential tourism destinations if these changes make them particularly attractive and capable of setting a profitable dialogue with new emerging tourists profiles. As a matter of fact, contexts and in which …

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From Insularity To Islandness: The Use Of Place Branding To Achieve Sustainable Island Tourism, Angeliki Mitropoulou, Ioannis Spilanis

International Journal of Islands Research

This paper aims to outline the role that place branding plays in shaping a new framework for sustainable island tourism. Islandness, as a contemporary context, underlines that islands share a set of unique features and they need to be studied on their own terms; they combine elements of urban and rural regions at the same time. Place branding is evolving as a crucial element for differentiated marketing that conditionally can also form an alternative tool to achieve sustainability for island regions. Therefore, policy makers need to examine tourism policies for island regions through the lenses of Nissology. It is commonly …

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Developing Island Identities Through Citizen Approaches? The Contribution Of Cultural Rights Exploratory Approach By Two Islands In Brittany, Leila Damak, Danielle Pailler

International Journal of Islands Research

The identity of insular territories is generally built from top-down and ‘institutionalised’ political logics. However, in the challenge for differentiation between territories and islands, these approaches have their limits. It appears necessary to coordinate external economic and tourism development issues with local territorial issues, by identifying cultural resources as understood by cultural rights. To deploy a renewed island territorial marketing, would be a question of implementing participatory projects and methodologies to meet the following challenges: How to create a common culture? How to promote citizen tourism? How to reveal the identities involved? Our research proposes to analyse the challenges of …

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Beyond The Capitalist Workplace: How The Production Of Surplus Across The Economy Keeps Producers Divided, Costas Panayotakis

Publications and Research

This article analyzes the public and household sectors of the economy as sites of surplus production within contemporary capitalist societies. It also shows how the coexistence of structurally distinct spheres of surplus production creates divisions among workers in the private, public, and household sectors of the economy, thus amplifying the racial, gender, and other divisions which have often in the past kept working people divided. Fueling these cross-sector divisions is the appearance that private-sector workers are paid for their labor rather than for their labor-power. Thus, this article also explores an implication of this appearance which Karl Marx, the thinker …

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Analysis Of Nine U.S. Recessions And Three Expansions, Ray C. Fair

Cowles Foundation Discussion Papers

Nine U.S. recessions and three expansions are analyzed in this paper using a structural macroeconometric model. With two exceptions and one partial exception, the episodes are predicted well by the model, including the 2008-2009 recession, conditional on the actual values of the exogenous variables. The main exogenous variables are stock prices, housing prices, import prices, exports, and exogenous government policy variables. Monetary policy is endogenous. Fluctuations in stock and housing prices (housing prices after 1995) are important drivers of output fluctuations—large wealth eﬀects on household expenditures.

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Analysis Of Nine U.S. Recessions And Three Expansions, Ray C. Fair

Cowles Foundation Discussion Papers

Nine U.S. recessions and three expansions are analyzed in this paper using a structural macroeconometric model. With two exceptions and one partial exception, the episodes are predicted well by the model, including the 2008-2009 recession, conditional on the actual values of the exogenous variables. The main exogenous variables are stock prices, housing prices, import prices, exports, and exogenous government policy variables. Monetary policy is endogenous. Fluctuations in stock and housing prices (housing prices after 1995) are important drivers of output fluctuations—large wealth effects on household expenditures. In explaining the 2008-2009 recession detailed financial variables such as credit-constraint variables are not …

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On The Basis Of Sex: Personal Status Law Reforms And Economic Growth, Kylie Bring

Honors Theses

The purpose of this thesis is to analyze how law reform toward gender equity has an impact on economic growth in Arab countries in the Middle East. Personal status law reform granting women economic, social, and personal freedoms is spreading across the region and showing substantial change. Using case studies of major PSL reforms in Tunisia and Morocco, this thesis outlines qualitative and quantitative evidence to support the case that gender equity benefits the economic growth of the given country.

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Affirmative Action And Mismatch: Evidence From Statewide Affirmative Action Bans, Leon Ren

Undergraduate Economic Review

This paper empirically evaluates the mismatch hypothesis by exploiting the quasi-experimental variation in the adoption of statewide affirmative action bans. Specifically, this paper examines the effect of such bans on minority graduation rates using a difference-in-difference, synthetic control, and triple-difference approach. My results suggest that statewide affirmative action bans are associated with an increase in minority graduation rates, consistent with the mismatch hypothesis, at highly selective institutions. Moreover, mismatch effects are not confined to science, technology, engineering, and math (STEM) majors. JEL Codes: I28, J15

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Forecasting Economic Activity Using The Yield Curve: Quasi-Real-Time Applications For New Zealand, Australia And The Us, Todd Henry, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Inversion of the yield curve has come to be viewed as a leading recession indicator. Unsurprisingly, some recent instances of inversion have attracted attention from economic commentators and policymakers about possible impending recessions. Using a variety of time series models and recent innovations in econometric method, this paper conducts quasi-real-time forecasting exercises to investigate whether the predictive capability of the yield curve extends to forecasting economic activity in general and whether removing the term premium component from yields aﬀects forecast accuracy. The empirical ﬁndings for the US, Australia, and New Zealand show that forecast performance is not improved either by …

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Commodities Are Not Industries! A Value Chain Example, Randall W. Jackson, Patricio Aroca

Regional Research Institute Working Papers

Leontief and Stone both received Nobel Prizes in Economics for development and extension of input-output (IO) analysis, a framework that has gained little traction in mainstream U.S. economics. Although IO modeling has gained renewed focus in several problem domains, many contemporary economists eschew Stone's enhancements, resulting in inconsistent analytics, even in top economics journals. In this paper, we use an increasingly common approach to value chain analysis as one example that demonstrates such conceptual misunderstandings and by presenting properly formulated alternatives, we demonstrate the extent of the consequences of neglecting the Stone enhancements and important role of reproducing results.

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Lessons Learned: Donald Kohn, Maryann Haggerty

Journal of Financial Crises

Kohn, an economist, is a 40-year veteran of the Federal Reserve System. He served as a member of the Board of Governors, and was vice chair, from 2002-2010, which included the years of the global financial crisis (GFC).

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The United Kingdom's Asset-Backed Securities Guarantee Scheme (U.K. Gfc), June Rhee

Journal of Financial Crises

The key structures of housing finance in the UK in the years leading up to the global financial crisis of 2007-09 consisted of retail deposits, secondary market funding and wholesale interbank lending. Although retail deposits were the major funder of UK mortgages, secondary market funding, which included covered bonds and residential mortgage-backed securities (RMBS), accounted for 31% of UK mortgage lending in 2006. In 2007, the collapse of the U.S. subprime mortgage market triggered a financial shock, and the shock quickly traveled beyond national borders. Regardless of differences in the UK mortgage market, investors’ concern over the prospects of the …

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The Polish Guarantee Scheme (Poland Gfc), Manuel Leon Hoyos

Journal of Financial Crises

Faced with the global financial crisis of 2007–2009, Poland implemented a scheme of State support for financial institutions. In view of a potential global credit crunch, it aimed at improving short- and medium-term liquidity of domestic financial institutions. The scheme came into force on March 13, 2009, and was approved by the European Commission under European Union State Aid rules on September 25, 2009. The scheme enabled the Ministry of Finance, on behalf of the State Treasury, to provide support in the form of Treasury guarantees on newly issued bank debt and the exchange of Treasury bonds for less liquid …

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The Debt Guarantee Program Of The Temporary Liquidity Guarantee Program (U.S. Gfc), Justin Katz

Journal of Financial Crises

Following the collapse of Lehman Brothers in September of 2008, banks faced extreme difficulty in issuing new debt and finding affordable sources of funds due to heightened fears over counterparty solvency and liquidity risk. By the end of September, the TED spread had spiked to 464 basis points, and issuance of commercial paper fell 88%. On October 14th, to boost confidence and lower short-term financing costs, the Federal Deposit Insurance Corporation announced the Debt Guarantee Program (DGP) as part of the Temporary Liquidity Guarantee Program (TLGP). Under the DGP, the FDIC guaranteed in full a limited amount of senior unsecured …

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Bank Debt Guarantee Programs, Christian M. Mcnamara, Greg Feldberg, David Tam, Andrew Metrick

Journal of Financial Crises

One of the hallmarks of the global financial crisis of 2007-09 was the rapid evaporation of the non-deposit, wholesale funding many financial institutions had become increasingly reliant upon in the years leading up to the crisis. In the aftermath of the Lehman Brothers bankruptcy, governments became increasingly concerned about even fundamentally sound institutions’ ability to access necessary funding. In response, beginning in October 2008, authorities across the globe began introducing guarantee programs enabling institutions to issue debt that would be backed by a guarantee from the government in exchange for a guarantee fee. While the specific details of these programs …

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The Public-Private Investment Program: The Legacy Loans Program (U.S. Gfc), Ben Henken

Journal of Financial Crises

On March 23, 2009, the U.S. Treasury, in conjunction with the Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC), announced the Public-Private Investment Program (PPIP). PPIP consisted of two complementary programs designed to foster liquidity in the market for certain mortgage-related assets: The Legacy Loans Program and the Legacy Securities Program. This case study discusses the design and implementation of the Legacy Loans Program. Under this program, the FDIC and Treasury attempted to create public-private investment partnerships that—using a combination of private equity, Treasury equity, and FDIC-guaranteed debt—would purchase legacy mortgage loans from U.S. banks by way of …

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Designing The Main Street Lending Program: Challenges And Options, William B. English, J. Nellie Liang

Journal of Financial Crises

The Main Street Lending Program (MSLP) was established by the Federal Reserve to provide loans to small and mid-sized firms and large below-investment-grade firms that were financially sound before the onset of the COVID-19 pandemic. The program, which was established under the Fed’s Section 13(3) emergency authorities, is supported by capital from the U.S. Treasury and became operational in July 2020; however, utilization has been slight. We describe the economic challenges in designing a loan support program and evaluate the MSLP program in terms of how it manages significant asymmetric information, adverse selection, poor targeting, and moral hazard problems while …

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Extending The Macroeconomic Impacts Forecasting Capabilities Of The National Energy Modeling System, Christa D. Court, Randall W. Jackson, Justin Adder, Gavin Pickenpaugh, Charles Zelek, Amanda J. Harker Steele

Regional Research Institute Working Papers

To comprehensively model the macroeconomic impacts that result from changes in long-term energy-economy forecasts, the United States Department of Energy’s National Energy Technology Laboratory (NETL) partnered with West Virginia University’s (WVU) Regional Research Institute to develop the NETL/WVU econometric input-output (ECIO) model. The NETL/WVU ECIO model is an impacts forecasting model that functions as an extension of the U.S. energy-economic models available from the United States (U.S.) Energy Information Administration’s National Energy Modeling System (NEMS) and the U.S. Environmental Protection Agency’s Market Allocation (MARKAL) model. The ECIO model integrates a macroeconomic econometric forecasting model and an input-output accounting framework along …

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Frm Financial Risk Meter, Andrija Mihoci, Michael Althof, Cathy Yi-Hsuan Chen, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

A systemic risk measure is proposed accounting for links and mutual dependencies between financial institutions utilizing tail event information. Financial Risk Meter (FRM) is based on least absolute shrinkage and selection operator quantile regression designed to capture tail event co-movements. The FRM focus lies on understanding active set data characteristics and the presentation of interdependencies in a network topology. Two FRM indices are presented, namely, FRM@Americas and FRM@Europe. The FRM indices detect systemic risk at selected areas and identify risk factors. In practice, FRM is applied to the return time series of selected financial institutions …

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Primary Reasons For Not Attending Farmers' Market. Do Market Features And Consumer Characteristics Matter?, Autumn Milliner

Masters Theses & Specialist Projects

The number of farmers’ markets has been growing, but consumer attendance does not appear to rise at the same rate. The overall purpose of this study was to investigate primary reasons for not attending. Specific objectives were: (1) describe the consumer characteristics of individuals who do not attend farmers’ markets (2) investigate the consumer characteristics and market amenities that influence a consumer’s choice to not attend a farmers market (3) estimate the variables that impact a consumer’s level of interest in subscribing to a CSA and (4) assess and estimate the relationship between consumer characteristics and their willingness to pay …

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Full-Text Articles in Entire DC Network

The Dorian Gray Phenomenon In Financial Markets, Ajay Makhija

Asian Management Insights

Documenting Current Practices Of Accommodating Linguistic Needs Of Deaf Defendants, Beau Shine

Midwest Social Sciences Journal

Authors' Biographical Notes, Mssj Staff

Midwest Social Sciences Journal

Elfrieda Lang: The Difficult Career Path Of A German American Female Indiana Historian, Bruce Bigelow

Midwest Social Sciences Journal

Michael Lewis’S The Undoing Project: A Friendship That Changed Our Minds, David Mcclough

Midwest Social Sciences Journal

Political Corruption And Mergers And Acquisitions, Nam H. Nguyen, Hieu V. Phan, Thuy Simpson

School of Economics and Finance Faculty Publications

The Impact Of Foreign Direct Investment On The Ecological Footprints Of Nations, Nadia Doytch

Ateneo School of Government Publications

The Potential Impacts Of Covid-19 On The Global Value Chains: Gvc Positioning And Linkages, Gerald Foong, Pao-Li Chang

Research Collection School Of Economics

Macroeconomic Aspects Of Maintenance Optimization Of Critical Infrastructures, S. A. Timashev, A. V. Bushinskaya

Engineering Management & Systems Engineering Faculty Publications

Islamic Labeled Firms: Revisiting Dow Jones Measure Of Compliance, Ahmed Elnahas, Ghada Ismail, Rwan El-Khatib, M. Kabir Hassan

School of Economics and Finance Faculty Publications

The ‘Dark Power’ Of Instagram: Prospects And Threats For Tourism Organisations, Nicola Capolupo, Valerio Giampaola, Gabriella Piscopo

International Journal of Islands Research

From Insularity To Islandness: The Use Of Place Branding To Achieve Sustainable Island Tourism, Angeliki Mitropoulou, Ioannis Spilanis

International Journal of Islands Research

Developing Island Identities Through Citizen Approaches? The Contribution Of Cultural Rights Exploratory Approach By Two Islands In Brittany, Leila Damak, Danielle Pailler

International Journal of Islands Research

Beyond The Capitalist Workplace: How The Production Of Surplus Across The Economy Keeps Producers Divided, Costas Panayotakis

Publications and Research

Analysis Of Nine U.S. Recessions And Three Expansions, Ray C. Fair

Cowles Foundation Discussion Papers

Analysis Of Nine U.S. Recessions And Three Expansions, Ray C. Fair

Cowles Foundation Discussion Papers

On The Basis Of Sex: Personal Status Law Reforms And Economic Growth, Kylie Bring

Honors Theses

Affirmative Action And Mismatch: Evidence From Statewide Affirmative Action Bans, Leon Ren

Undergraduate Economic Review

Forecasting Economic Activity Using The Yield Curve: Quasi-Real-Time Applications For New Zealand, Australia And The Us, Todd Henry, Peter C.B. Phillips

Cowles Foundation Discussion Papers

Commodities Are Not Industries! A Value Chain Example, Randall W. Jackson, Patricio Aroca

Regional Research Institute Working Papers

Lessons Learned: Donald Kohn, Maryann Haggerty

Journal of Financial Crises

The United Kingdom's Asset-Backed Securities Guarantee Scheme (U.K. Gfc), June Rhee

Journal of Financial Crises

The Polish Guarantee Scheme (Poland Gfc), Manuel Leon Hoyos

Journal of Financial Crises

The Debt Guarantee Program Of The Temporary Liquidity Guarantee Program (U.S. Gfc), Justin Katz

Journal of Financial Crises

Bank Debt Guarantee Programs, Christian M. Mcnamara, Greg Feldberg, David Tam, Andrew Metrick

Journal of Financial Crises

The Public-Private Investment Program: The Legacy Loans Program (U.S. Gfc), Ben Henken

Journal of Financial Crises

Designing The Main Street Lending Program: Challenges And Options, William B. English, J. Nellie Liang

Journal of Financial Crises

Extending The Macroeconomic Impacts Forecasting Capabilities Of The National Energy Modeling System, Christa D. Court, Randall W. Jackson, Justin Adder, Gavin Pickenpaugh, Charles Zelek, Amanda J. Harker Steele

Regional Research Institute Working Papers

Frm Financial Risk Meter, Andrija Mihoci, Michael Althof, Cathy Yi-Hsuan Chen, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

Primary Reasons For Not Attending Farmers' Market. Do Market Features And Consumer Characteristics Matter?, Autumn Milliner

Masters Theses & Specialist Projects