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Three Essays On Labor Force Participation Rates Among The Fifty States, With Empirical Tests Using Panel Data, John D. Groesbeck

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This dissertation examined the theoretical foundations of an individual's labor force participation decision. Further, this dissertation provided empirical analysis of the impact of state tax rates, the duration of unemployment, and household size on male, female, and combined labor force participation rates of the fifty states from 1985 to 1990. Empirical tests showed that: 1) no significant relationship existed between tax variables and participation rates; 2) the duration of unemployment was positively related with participation rates while unemployment was negatively related; 3) service sector growth was positively correlated with longer durations of unemployment; and 4) household size was negatively related …

Can Duration -- Interest Rate Risk -- And Convexity Explain The Fractional Price Change And Market Risk Of Equities?, David L. Cheney

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

In the last two decades, duration analysis has been largely applied to fixed-income securities. However, since rising and falling interest rates have been determined to be a major cause of stock price movements, equity duration has received a great deal of attention.

The duration of an equity is a measure of its interest rate risk. Duration is the sensitivity of the price of an equity with respect to the interest rate. Convexity is the sensitivity of duration with respect to the interest rate.

The analysis revealed that the fractional price change and market risk of equities can be explained by …

Individual Stock Selection: A Place In The Investment Portfolio; Participation In 1993 Acreage Reduction Program Looks Profitable, John A. Sondey, Donald Peterson

Economics Commentator (1972- 2016)

No abstract provided.

Publication List Economics Department: 1992 - 1993, Department Of Economics

Economics Pamphlet Series (1985-2016)

The publications listed herein were prepared during January 1992 - March 1993 by the faculty and graduate students in the Economics Department at South Dakota state University. The publications are arranged by series (Staff Paper, Research Paper, Economics Commentator, Experiment Station Bulletin, etc.).

The Intertemporal-Substitution Hypothesis Is Alive And Well (But Hiding In The Data), Jean Kimmel, Thomas J. Kniesner

Upjohn Institute Working Papers

According to the intertemporal-substitution hypothesis, which underlies the typical empirical real business cycle model, cyclical fluctuations in employment and hours of work are optimizing labor-supply responses to short-run aggregate demand shifts. We demonstrate that previous empirical labor-supply research has used inappropriate data to test the intertemporal-substitution hypothesis. We estimate a fixed-effects life-cycle labor-supply model with more informative data, the triennial micro data of the Survey of Income and Program Participation. We find economy-wide wage elasticities of employment and hours worked per employee of +1.55 and +0.51, which support the intertemporal-substitution hypothesis and give econometric credibility to the labor-market specification of …

Citation Functions And Related Determinants, Mengxiong Liu

Faculty Research, Scholarly, and Creative Activity

No abstract provided.

Restraining Medicine Prices: Controls Vs. Competition, Murray L. Weidenbaum

Murray Weidenbaum Publications

With the cost of prescription medicines constantly rising, the government has been considering price controls. This report explains the R&D process from laboratory studies to FDA review to approval by the FDA. As an alternative to price controls, competition could be a way for helping to keep prices down.

Tobacco And Its Role In The Life Of The Confederacy, D. T. Smith

History Theses & Dissertations

This study examines the role that tobacco played in influencing Confederate policy during the American Civil War. Surprisingly, very little research has been done on this subject; historians have virtually ignored the influence of tobacco upon Southern economic interests between 1850 and 1870.

The southern tobacco-producing states grew 439,183,561 pounds of raw tobacco in 1860. Southern manufactured tobacco was worth $21,820,535 in 1860, and along with other agricultural products, especially cotton, played an important economic, political, and diplomatic role in the life of the Confederacy. The tobacco industry represented a very strong interest group in the Upper South during the …

Ricardo's Theory Of Profit And The Third Edition Of The Principles, John B. Davis

Economics Faculty Research and Publications

David Ricardo's “On Machinery” chapter continues to interest theorists and historians of economic thought (Blaug 1958, Hollander 1979, Kurz 1984, Samuelson, 1988, 1989, Morishima 1989, Negishi 1990). Yet the addition of the chapter to the third edition of Ricardo's Principles of Political Economy and Taxation arguably overturns much of the view for which Ricardo is so well known (Davis 1989). In the added chapter Ricardo allows, contrary to his original view in the first two editions, that the introduction of machinery is indeed injurious to the class of laborers. More interestingly, because machinery substitutes for labor, wages cannot rise and …

Review Of The History And Philosophy Of Social Science By S. Gordon, John B. Davis

Economics Faculty Research and Publications

No abstract provided.

Attitudes Towards The Market And The State In Post-Communist Europe, David S. Mason

Scholarship and Professional Work - LAS

This paper examines the level and sources of suppon for the market-oriented reforms in East-Central Europe and the relationship between these attitudes and political trust in the governments. The analysis is based on data collected in a common public opinion survey on social, economic and political justice implemented in the spring and summer of 1991 in eleven countries: Russia. Poland, Slovenia, Bulgaria, Hungary, Czechoslovakia, Germany (east and west), Holland, the United Kingdom, Japan and the United States.

The survey results suggest some measure of caution and concern regarding the possibilities for a successful transition to market democracy in the former …

The Pacific Guano Islands: The Stirring Of American Empire In The Pacific Ocean, Dan O'Donnell

Pacific Studies

No abstract provided.

Does Employment Protection Inhibit Labor Market Flexibility?: Lessons From Germany, France And Belgium, Katharine G. Abraham, Susan N. Houseman

Upjohn Institute Working Papers

Laws in most West European countries give workers strong job rights, including the right to advance notice of layoff and the right to severance pay or other compensation if laid off. Many of these same countries also encourage hours adjustment in lieu of layoffs by providing prorated unemployment compensation to workers on reduced hours. This paper compares the adjustment of manufacturing employment and hours in West Germany, France and Belgium, three countries with strong job security regulations and well-established short-time compensation systems, with that in the United States. Although the adjustment of employment to changes in output is much slower …

Constraints Posed By Inadequate Data Supply To Planning And Evaluation Of Services In Nigeria., M. O Ojo Dr

Bullion

The paper discusses the importance of accurate, timely and adequate data in national planning and economic development of Nigeria.

Federal Policy Towards State And Local Economic Development In The 1990s, Timothy J. Bartik

Upjohn Institute Working Papers

This paper suggests new federal policies towards state and local economic development assistance to business. I argue that there is some evidence that these programs can be effective in encouraging business growth and helping the unemployed. But state and local governments do not have the right incentives to adequately pursue national goals through economic development programs. State and local governments are not inclined to do quality evaluations of their programs and tend to favor business attraction programs over programs that might increase U.S. business productivity. In addition, it is unclear whether economic development efforts are most vigorously pursued by economically …

Urban Growth Projections_1992-2002, University Of New Mexico Bureau Of Business And Economic Research

Historic Publications

URBAN GROWTH PROJECTION FOR ALBUQUERQUE.

Urban Growth Projections For Albuquerque Vicinity, 1992–2002: Population, Housing, Employment, University Of New Mexico Bureau Of Business And Economic Research

BBER Publications

This comprehensive planning report provides forecasts of population, employment, housing construction, and demographic change for the Albuquerque study area through 2002. The study examines growth by Planning Information Area (PIA), evaluates migration, fertility, and housing trends, and identifies the west side of Albuquerque and Rio Rancho as the region's fastest-growing areas during the 1990s.

Multiple Bids As A Consequence Of Target Management Resistance: A Count Data Approach, Sanjiv Jaggia, Satish Thosar

Economics

In this article, we focus on the question of target management resistance and the incidence of subsequent bids. A Poisson count data model is used where the dependent variable represents the number of bids (count) received and the independent variables comprise target management actions and firm specific characteristics. Of the target management actions considered, legal defense and the entry of a white knight are associated with additional bids. With respect to firm specific characteristics, we find that a high initial bid premium deters subsequent bids. Firm size is also significant and has an interesting relationship with the number of bids …

For Whom Is The Rural Economy Resilient? Initial Effects Of Drought In Western Sudan, Leslie C. Gray, Michael Kevane

Economics

This discussion piece addresses two recent debates: entitlement theory and the resilience of rural systems. The authors find that in western Sudan entitlement theory provides a specific and useful framework for understanding the nature of the crisis confronting the society. Arguments about the resilience of rural systems, however, need to be more closely examined and will depend on site-specific factors. The rural economy and society of western Sudan were not found to be resilient.

Common Stock Price Effects Of Security Issues Conditioned By Current Earnings And Dividend Announcements, Timothy A. Manuel, Leroy D. Brooks, Frederick P. Schadler

Economics & Finance

The valuation effect of debt and equity issue announcements on stock price varies predictably with the timing of earnings and dividend reports. Issue announcements closely preceding current cash flow signals have more negative valuation effects. Straight debt announcements also have a significantly negative effect on stock price when the offer announcement closely precedes earnings and dividend releases. The evidence is consistent with a separating equilibrium where better performing firms signal superior value by announcing equity offers shortly after dividend announcements. Poorer performers appear to time equity offers just before dividend signals, which in turn are more likely to be negative.

Testing For Speculative Bubbles In Foreign Exchange Markets, Akila Weerapana

Honors Papers

Foreign currency speculation has always been a well publicized topic that has captured the attention of people who have not formally studied economics. It is also a topic that has captured the attention of researchers in International Finance because speculative bubbles have often been considered as a possible explanation for the excess volatility of exchange rates. An examination of past studies reveals that different methods have been used by researchers to test for the existence of speculative bubbles in major currencies over the period from 1970-1984. In this paper, I will apply three methods which have been used in the …

The Underground Economy 1993-94, Department Of Economics

Werner Sichel Lecture Series

The Underground Economy is the thirtieth Annual Public Lecture Series organized by the Department of Economics at Western Michigan University. In this series the concerns of policymakers and economists about the alleged growth in underground legal and illegal economic activity are explored. This year's series is directed by Susan Pozo of the WMU Economics Department and is co-sponsored by the W.E. Upjohn Institute for Employment Research. All lectures (followed by a question and answer session) are open to the public.

1993 American Incentive System Almanac, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

We've Got It Good In Searcy, Ar: A Community Profile, Second Edition, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

The Arkansas Decade: We Mean Business, 1993, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

Your Organization's Next Program: You Can't Have Your Bread And Loaf Too, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

Afghanistan's Economic Prospects After Soviet Occupation And Jihad (Islamic Armed Struggle), 1979-1993, Abdul Haq Amiri

Masters Culminating Experiences (1993-2011)

The main purpose of this thesis is to evaluate Afghanistan's future economic prospects especially in the aftermath of Russian occupation and the prolonged Islamist armed resistance by the peoples of Afghanistan. To achieve this goal, it is, however, necessary to provide some historical background about the country and to review the nation's economic progress before the onset of the Russian war (1979-1989) . While the presentation of this thesis has a historical dimension, it investigates and evaluates the consequences of communist rule and Soviet occupation. The thesis contains several parts including a conclusion and a policy recommendation. However, the problems …

Teacher Gender And Pay Effects On Ohio Student Performance, Robert Clark Gibson

Masters Culminating Experiences (1993-2011)

This investigation attempts to see if Card and Kreuger's retrospective findings that a significant positive relationship between higher ratios of female to male teachers and later increased earnings of workers extends to current test results of Ohio School Districts. One possible explanation for increased earnings later in life to be associated with a higher ratio of female teachers is that lack of alternative opportunities for females in the labor market before 1966 made it possible to hire more effective female teachers for a given salary. If the same conditions hold districts with higher ratios of teachers on their staff would …

Fixed Capital Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Gordon, R. J. (1993, March). Reply: The concept of capital. Review of Income and Wealth, 39(1), 103–110. International Association for Research in Income and Wealth; Wiley.

• Cohan, A. B. (1975, July). Clarification of the reinvestment assumption in capital analysis: Clarification, comment, query. Journal of Business Research, 3(3), 239–242. Elsevier.

• Schefold, B. (1976). Reduction to dated quantities of labour, roundabout processes, and switches of technique in fixed capital systems. Metroeconomica, 28(1), 1–15. Wiley.

• Shaikh, A. (1978, August 10). Rate of return [Handwritten notes].

• Shaikh, A. (1983, May). Paul Swanson’s “The …

Domestic Monopoly, Quotas & Contestable Rents, William Rieber

Scholarship and Professional Work - Business

In this article, a specific example is given to illustrate that rent seeking can raise welfare under full seeking in general equilibrium: an import quota is levied in the presence of domestic monopoly in the import competing industry. An import quota is considered instead of an import tariff since a tariff confers no market power on the local monopolist. The monopolist still faces a perfectly elastic demand, corresponding now to the world price plus tariff. The introduction of monopoly does not add another distortion to the economy, which is necessary if full rent seeking is to be welfare improving. But …