Digital Commons Network^™

Pakistan’S Growth Experience, 1947–2007, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Pakistan’s growth experience over the past sixty years is both impressive and disappointing. It is impressive because rapid growth rate has resulted in a quadrupling of per capita incomes and reduction in poverty levels by one half despite fairly high population growth. Structural changes have transformed a predominantly agrarian economy to a more diversified production structure. Manufactures account for 80 percent of the country’s exports. But there is a sense of disappointment too. Social indicators are among the worst in developing countries. Pakistan ranks 134th among 177 countries in Human Development Index. Income Inequalities, Rural Urban disparities and Gender differentials …

Americans' Top Concerns Reflect Both Common Ground And Partisan Splits: Economy Unites, But Policy And Politics Divide, Hwayong Shin

Weidenbaum Center Survey (WCS) Reports

Over the past two years, Americans have lived through several political shocks—both at home and abroad. In 2023, the removal of House Speaker Kevin McCarthy, the Supreme Court’s reversal on affirmative action, the outbreak of the Israel–Hamas war, and Donald Trump’s multiple indictments shook the political landscape. In 2024, Americans faced a series of events surrounding the presidential election—Trump’s conviction on felony charges, the Supreme Court’s subsequent ruling granting him presidential immunity, Joe Biden’s faltering debate performance that led to his withdrawal and Kamala Harris’s nomination, and Trump’s return to the White House. Since the new administration took office in …

Educational Indebtedness, Youth Precarity, And Neoliberalism: A Comparative Analysis Between Chile And Colombia., Alejandro Rodriguez-Mejia

Working Papers

No abstract provided.

Investigating The Relationship Between Noun Classes And Plant Folk Taxonomy In Chasu Language Of Kilimanjaro Region In Tanzania, Peter Rabson Mziray

Journal of Humanities and Social Sciences

The current study investigates the relationship between noun classes and plant folk taxonomy in Chasu (G 22). The study focuses on two objectives: the first objective is to describe the plant folk taxonomy in Chasu and the second objective is to determine the relationship between noun classes and plant folk taxonomy in Chasu. Data were collected from rural villages in Same and Mwanga districts by using free listing, field interviews (jungle-walk-and-identify), and written texts containing Chasu plant names. The findings reveal that Chasu folk taxonomy reflects different ethnobotanical categories; including a unique beginner which is mmea/mimea ‘plant(s)’, and three life …

Dictators And Lying Dictators: An Experimental Investigation Of Preference Based-Group Biases In Chinese And American Interactions, Aaron S. Berman, Saika Cer Askin, Shapeng Jiang, David Porter, Jason Shachat

ESI Working Papers

This study examines group-conditional generosity and behavior using students from Chapman University in the United States and Wuhan University in China. Participants make allocation decisions in either a standard Dictator Game (DG) or a Lying Dictator Game (LDG), where a privately reported die roll determines the allocation. We vary whether participants interact with members of their own or the other university community. The LDG game, through the possibility of plausible deniability, allows for the moderation of image concerns that potentially influence DG behavior. We complement these tasks with individual decision benchmarks that exclude the Receiver to control for group differences …

Identifying Effective Corporate Financial Strategies For Overcoming Economic Shocks: A Literature Review, Selvi Permata Groda, Muazila Norisnita

Jurnal Administrasi Bisnis Terapan

The current era of heightened global economic uncertainty necessitates a thorough understanding of corporate financial strategies that enable firms to weather economic shocks. This literature review systematically identifies and analyzes financial strategies and practices that have demonstrated effectiveness in mitigating the negative impacts of events such as geopolitical instability. The methodology involves a comprehensive synthesis of existing scholarly articles focusing on corporate finance responses to global economic volatility. This study examines strategies related to funding, capital structure, cash management, and investment, evaluating their success in fostering financial resilience. Furthermore, the review integrates relevant financial theories, including the pecking order, trade-off, …

The Security Trilemma: A Critical Research Agenda, Adem Yavuz Elveren, David M. Fields

Working Papers

No abstract provided.

Home Care Workers, Immigration, And An Aging Population, Catherine Ipsen, Luke Santore

Employment

The size of the Home Care Worker (HCW) workforce has not kept pace with demand, and inadequate compensation and benefits have historically contributed to poor HCW recruitment and retention. Demographic trends put further strain on the workforce, with immigrants, naturalized citizens, and Black and Indigenous People of Color (BIPOC) individuals currently making up the majority of the HCW workforce.

Policy changes, cuts to benefits, and immigration crackdowns threaten to further weaken the supply of HCWs while the demand continues to rise. In this report, Catherine Ipsen and Luke Santore provide analysis and strategies to support HCWs and strengthen the Personal …

Robust Implementation In Rationalizable Strategies In General Mechanisms, Takashi Kunimoto, Rene Saran

Research Collection School Of Economics

A social choice function (SCF) is robustly implementable in rationalizable strate-gies if every rationalizable strategy profile on every type space results in outcomes consistent with it. First, we establish an equivalence between robust implementation in rationalizable strategies and “weak rationalizable implementation”. Second, using the equivalence result, we identify weak robust monotonicity as a necessary and al-most sufficient condition for robust implementation in rationalizable strategies. This exhibits a contrast with robust implementation in interim equilibria, i.e., every equilib-rium on every type space achieves outcomes consistent with the SCF. Bergemann and Morris (2011) show that strict robust monotonicity is a necessary and …

Can Limited Partners Mitigate Negative Externalities In Private Equity?, Teodor Duevski, Chhavi Rastogi, Tianhao Yao

Sim Kee Boon Institute for Financial Economics

We show how Limited Partners' (LPs) environmental and social (E&S) concerns transmit to private equity (PE) rms through capital supply. E&S incidents in portfolio companies reduce PE fundraising, as E&S-concerned relationship LPs refrain from recommitting and are not easily substituted. Using a legal reform that expands E&S-concerned public pension capital to PE, we causally show that PE rms internalise LPs' E&S concerns, reducing dirty sector portfolio allocation and increasing ESG hiring. Additionally, PE rms with E&S- concerned relationship LPs engage with portfolio companies to manage E&S risks. Limited capital substitutability enables LPs to delegate E&S preferences, shaping PE allocation and …

Marriage, Labor Supply And The Dynamics Of The Social Safety Net, Hamish Low, Costas Meghir, Luigi Pistaferri, Alessandra Voena

Cowles Foundation Discussion Papers

The 1996 US welfare reform introduced time limits on welfare receipt. We use quasi-experimental evidence and a rich life-cycle model to understand the impact of time limits on different margins of behavior and well-being. We stress the impact of marital status and marital transitions on mitigating the cost and impact of time limits. Time limits cause women to defer claiming in anticipation of future needs and to work more, effects that depend on the probabilities of marriage and divorce. They also cause an increase in employment among single mothers and reduce divorce, but their introduction costs women 0.7% of lifetime …

Beyond The Budget: Financial Literacy In Tyler, Tx, Manuel Reyes-Loya, Cecilia Cuellar, Sara Maldonado

Hibbs Brief

In this issue of the Hibbs Brief, the importance of financial literacy in Tyler, Texas is explored as a key factor influencing household decision-making and community resilience. The brief discusses how gaps in financial knowledge and access — including budgeting, saving, borrowing, and digital financial tools — affect people's ability to build stability, with lower financial literacy linked to higher debt and limited opportunities for long‑term financial success. It emphasizes the need for expanded financial education and resources to strengthen individual financial capability and support regional economic well-being.

Balancing Act: Addressing Child Quantity-Quality Trade-Off In The Philippine Households With Educational And Health Social Programs, John Andrew A. Alsol, Marie Carroline Magante

Economics Department Faculty Publications

The child quantity-quality (CQQ) trade-off has been extensively studied in economic research since it was first introduced by Becker and Lewis in 1973. Studies have argued that the current economic circumstances and the presence of government aid in education and health determine the existence and extent of the CQQ trade-off. However, there is a dearth of empirically tested research on the possible decreasing effects of social programs on the CQQ trade-off. Using the 2019 Annual Poverty Indicators Survey, this paper seeks to determine the effect of education and health social programs on the CQQ trade-off in the Philippines. Probit models …

Unlocking Private Equity Investing, Yin Wang, Steve Balaban

Asian Management Insights

Myths and market shifts to take note of.

Mexico Consensus Economic Forecast, Volume 28, Number 4, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

New Measures For Richer Theories: Some Thoughts And An Example, Orazio Attanasio, Victor Sancibrian, Federica Ambrosio

Cowles Foundation Discussion Papers

For a long time, the majority of economists doing empirical work relied on choice data, while data based on answers to hypothetical questions, stated preferences or measures of subjective beliefs were met with some skepticism. Although this has changed recently, much work needs to be done. In this paper, we emphasize the identifying content of new economic measures. In the first part of the paper, we discuss where the literature on measures in economics stands at the moment. We first consider how the design and use of new measures can help identify causal links and structural parameters under weaker assumptions …

Poking Holes And Adding Points In Dictator Games, James C. Cox, Cary Deck, Laura Razzolini, Vjollca Sadiraj

ESI Working Papers

Deviations from choices predicted by self-regarding preferences have regularly been observed in standard dictator games. Such behavior is not inconsistent with conventional preference theory or revealed preference theory, which accommodate other-regarding preferences. By contrast, experiments in which giving nothing is not the least generous feasible act produce data that is inconsistent with conventional preference theory including social preference models and suggest the possible relevance of reference point models. Two such models are the reference-dependent theory of riskless choice with loss aversion and choice monotonicity in moral reference points. Our experiment includes novel treatments designed to challenge both theoretical models of …

The Changing Landscape Of Eastern Montana: Trends And Insights 2024, Melissa Weddell, Glenna Hartman, Elena Bigart, Kara Grau, Matthew Pettigrew, Ava Worbets, Sophie Morris

Institute for Tourism and Recreation Research Publications

The purpose of this study is to generate a comprehensive overview of tourism trends in Eastern Montana by leveraging existing data sources and integrating new survey insights. By analyzing county-level statistics, regional tourism data, and U.S. Census information, the study aims to create a detailed picture of visitor demographics, trip characteristics, and community dynamics over the past five years (2018-2023). This multifaceted approach illuminates local tourism patterns, highlights key differences between counties, and allows for comparisons with the more heavily visited western regions of the state. Specific objectives include identifying who visits Eastern Montana, how they plan and experience their …

Price Dislocations: Insights From Trade Repository Data, Albert Menkveld, Lucas Saru, Shihao Yu

Research Collection Lee Kong Chian School Of Business

This paper identifies price dislocation events in EuroSTOXX 50 futures, i.e., periods marked by high absolute returns. Combining public limit order book data with confidential trade repository data collected under the European Market Infrastructure Regulation (EMIR), we analyze market conditions around such dislocations. We find that price dislocations are accompanied by an increase in trading volume, and in the number of trades. EMIR data enables us to identify who participates in these trades, which allows us to tell if the volume increase is driven by fewer investors trading more, i.e., a more concentrated market, or by more investors participating. The …

Estimating The Value Of 5c’S Of Credit Analysis In Newbuilding Ship Loans, Gwanglyong Park, Xinyi Ruan

World Maritime University Dissertations

No abstract provided.

Determinants Of Containership Time Charter Rates : A Hedonic Pricing Approach, Khusnul Khotimah, Thi Thu Ha Doan

World Maritime University Dissertations

No abstract provided.

Shining A Light On Firms’ Political Connections: The Role Of Dark Money, Matthew Denes, Madeline Scanlon

Faculty Publications

We study the emergence of a new channel for firms’ political activity using dark money through undisclosed and unlimited contributions. After the U.S. federal court decisions in 2010, S&P 500 firms substantially increased their use of dark money. We find that dark money contributions complement political engagement through campaign contributions and lobbying. Firms disclose dark money contributions when they face heightened nondisclosure costs. Firms contributing to dark money groups benefit by receiving more procurement contracts and increased government subsidies. Our findings highlight that political connections by firms are evolving and expanding through new and largely unexplored channels. (JEL D72, …

Case Series Overview: Analysis Of Innovation Applications And Value Driven By Aigc Technology—An Early Investment Perspective In The Chinese Market, Siyuan Ma, Mengyu Wang, Tianyi Zhang

Sim Kee Boon Institute for Financial Economics

This case series explores the innovative applications and value analysis driven by AIGC (AI-generated content) technology from the perspective of early-stage investments in the Chinese market. We analyse the influence of core factors such as technology progression, market demand, policy environment, industry cycles and data on AIGC-driven value creation; case studies are provided to illustrate how AIGC has varying applications across different industries depending on market conditions. This series contains four cases: first, we first explore the investment opportunities of AIGC by combining the core technological value and industrial application status of generative AI, using China’s energy industry as a …

How Fair Workweek Laws Affect Labor Markets: A New York City Case Study, Joseph Pickens, Aaron Sojourner

Employment Research Newsletter

No abstract provided.

Understanding Michigan’S Reconnect Program Applicants, Alexander W. Bartik, Brad J. Hershbein, Brian Jacob, Kevin M. Stange, Bryan A. Stuart, Zhonghan Xie

Reports

No abstract provided.

Optimization Via Strategic Law Of Large Numbers, Xiaohong Chen, Zengjing Chen, Wayne Yuan Gao, Xiaodong Yan, Guodong Zhang

Cowles Foundation Discussion Papers

This paper proposes a novel framework for the global optimization of a continuous function in a bounded rectangular domain. Specifically, we show that: (1) global optimization is equivalent to optimal strategy formation in a two-armed decision problem with known distributions, based on the Strategic Law of Large Numbers we establish; and (2) a sign-based strategy based on the solution of a parabolic PDE is asymptotically optimal. Motivated by this result, we propose a class of Strategic Monte Carlo Optimization (SMCO) algorithms, which uses a simple strategy that makes coordinate-wise two-armed decisions based on the signs of …

Religious Security As A Component Of National Security In The Sphere Of Social And Economic Communication, Yevhen Kharkovshchenko, Vitalii Nitsenko, Yevhen Piletskyi, Mariia Nesterova

Occasional Papers on Religion in Eastern Europe

National security is proposed to be viewed as a coordinated open system that, in addition to the religious, also includes military, economic, social, and other components. Considering religion as part of such an open system makes it possible to distinguish two mutually directed vectors of communication within religious communities: from church leaders to the faithful and vice versa. This presupposes feedback communication links that allow a denomination to balance interactions among the actors of church–society relations. The concept of “communication” in the context of religious and national security is thus expanded from a narrow understanding of information exchange to an …

The Return On Investment (Roi) For Higher Education In Nevada, 2021-2022, Sean Curry, Cason Noll, Olivia K. Cheche, William E. Brown Jr.

Higher Education

This fact sheet presents 2021-2022 data on the return on investment (ROI) of six public higher education institutions in Nevada. The data are sourced from the Georgetown University Center on Education and the Workforce’s “Ranking 4,600 Colleges by ROI” data tool, which provides standardized ROI estimates across institutions and degree levels nationwide. This fact sheet includes data for the following six public higher education institutions in Nevada that predominantly grant bachelor’s and associate’s degrees: University of Nevada, Reno; University of Nevada, Las Vegas; Nevada State College; Truckee Meadows Community College; Western Nevada College; and College of Southern Nevada.

Final Offer Arbitration With Asymmetric Evidence, Yongjoon Kim, Afia Promi, Jiatong Xue, Cary Deck

ESI Working Papers

As disputants increasingly rely upon arbitration it is critical to understand outcomes that are likely to arise from mechanisms like final offer arbitration. While a sizable experimental literature investigating strategic behavior in final offer arbitration exists, that work has overwhelmingly focused on situations where the arbitrator’s beliefs about the appropriate resolution are symmetric and uninfluenced by the disputants’ cases. This paper considers a setting where the arbitrator’s beliefs depend on the strength of each disputant’s case. We find disputant responses to changes in the relative strength of their case generally follow comparative statics predictions. Further, we find that final offers …

Berrien County Talent Ecosystem, Lee Adams, Val Klomparens

Reports

No abstract provided.