Digital Commons Network^™

Potential Impact Of Artificial Intelligence On Small And Medium Enterprises Innovation In The Eu: A Perspective From Poland, Malgorzata Wilczynska, Alina Walenia, Artur Dabek, Daniel Salabura, Halina Kot

Markets, Globalization & Development Review

The development of small and medium-sized enterprises is a complex process that requires the use of all approaches to achieve success. In this regard, finding opportunities to use artificial intelligence in such companies is of great importance. The study aims to assess how this technology affects the innovation and financial performance of small and medium-sized enterprises. To draw the main conclusions, the implementation of artificial intelligence at Polish enterprises, including in the context of their financial performance, namely the level of return on assets and the level of debt, was analysed. The study showed that the introduction of artificial intelligence …

The Global Tour Continues: Poland, Ukraine, Ireland, Turkey, And More, Nikhilesh Dholakia, Zeynep Ozdamar Ertekin, Delphine Godefroit-Winkel, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.

Essays In Economic Theory, Kohei Yamagata

Arts & Sciences Graduate Student Theses and Dissertations

This dissertation consists of three theoretical analyses. In the first chapter "Who Takes Responsibility and Preventive Action? Centralized vs. Decentralized Risk Management in an Organization with Heterogeneous Agents," we investigate the optimal allocation of risk management responsibilities in organizations with multiple agents possessing heterogeneous preventive action costs. Extending the principal-agent framework to a multi-agent context, we analyze how a manager and agents choose preventive efforts to mitigate risks. Two scenarios are considered: (1) centralized risk management, where the manager bears all expected damages, and (2) decentralized risk management, where agents bear their own damages. Our findings show that centralized risk …

Working Paper No. 96, Swedish Social Democracy And The ‘Meidner’ Plan, Aden Quenemoen

Working Papers in Economics

This inquiry seeks to establish that what became known as the “Meidner Plan” should be understood as an attempt to resolve contradictions within Swedish Social Democracy through promoting collective ownership. This thesis is demonstrated through a three-part structure. To elucidate the contradictions that gave rise to this policy proposal, part one situates Swedish Social Democracy within the broader social democratic tradition before analyzing its historical development as an economic model. Part two investigates the development of the Meidner Plan as an effort to address these contradictions, analyzing its theory, design, and transformative implications. Finally, part three examines the opposition that …

Does Central Bank Transparency Curb Foreign Exchange Vulnerability?, Muhammad Aftab, Kate Phylaktis

CBER Conference

This study examines the relationship between central bank transparency (CBT) and foreign exchange market vulnerability, focusing on exchange market pressure (EMP) to provide a comprehensive understanding. Using panel bounds testing approach to cointegration based analysis, the study covers both developed and emerging markets, incorporating the global financial crisis (GFC) and various control variables. External policy uncertainty and FX regimes are also considered to elucidate the nuanced relationship between CBT and EMP. Findings reveal that improved CBT reduces EMP, with financial development moderating this effect, suggesting well-developed financial systems lead to more stable exchange markets. CBT consistently relieves EMP during both …

Bayesian Estimation Of A Pragmatic Model For Monetary Policy Analysis: The Case Of Pakistan, Shahzad Ahmad, Waliullah .

CBER Conference

In this study, Bayesian maximum likelihood estimation of quarterly projections model for Pakistan as presented, as documented in Ahmad & Pasha (2015). Estimation results based on quarterly data from 2001 to 2023 show substantial differences in values of estimated versus calibrated parameters related to aggregate demand, aggregate supply, monetary policy rule and exogenous shock processes. The aim of this study is to compare forecasting performance for key macro variables. It shows that the estimated model provides more precise forecasts in case of headline inflation, real GDP growth, interest rate and exchange rate over 8-quarters forecast horizon. An estimated model for …

Monetary Policy In Good Times And In Bad: Empirical Evidence From Pakistan, Haider Ali

CBER Conference

A significant body of literature explores and establishes the impact of monetary policy on output and prices, at least in the short run. However, the subsequent question is whether this effect is symmetric concerning the various states of the economy (see, Tenreyro and Thwaites, 2016; Bernstein, 2021; Eichenbaum et al., 2022; among others). This study contributes to the literature on state-dependent (non-linear) effects of unanticipated monetary policy shocks according to two important features of the economy. The amount of slack in the economy and the amount of the public-sector footprint in the market. Evaluating state-dependent effects is crucial because assuming …

A Review On Fiscal And Debt Policies In Pakistan, Karim Khan

CBER Conference

Pakistan has been pursuing an active albeit expansionary fiscal policy since 1970s. In the mid1970s to early-1980s, such policy choice was manifested in externally financed development spending, primarily in the form of investment in public enterprises. Despite excessive deficit financing, Pakistan’s economic performance never took off; rather, it remained on a path of truncated growth which, in turn, created structural hurdles like low productivity, poor investment climate, and higher unemployment. Likewise, deficit financing has been threatening the sustainability of fiscal framework as excessive public spending is not accompanied by corresponding enhances in domestic revenues. Consequently, these policies have caused persistence …

Authoritarian Legality Of Sifc: An Inquiry Into The Dual State And Economic Decision Making In Pakistan, Hassan Zaheer

CBER Conference

Pakistan is no stranger to the union of authoritarianism with its economic decision-making. From the grand designs of Ayub Khan’s industrialization to Bhutto’s nationalization to Zia’s privatization, the country has been practically a laboratory of authoritarian experimentation over nature and the processes of the national economy. However, certain ideas have been coherent throughout time and space when it comes to the fusion of authoritarian law, arbitrary power, and economic decisions. These ideas have historically shaped the fusion of authoritarian power with economic decisions in the country. Resultantly, the authoritarian legality approach establishes a Dual-State in Pakistan by undermining normative processes …

Pros And Cons Of Debt Financing: An Objective Analysis, Anwar Shah

CBER Conference

Debt financing plays an important role in the modern financial system. It is claimed that the interest rate equilibrates demand and supply in the loanable funds markets and helps in the efficient allocation of financial capital. It is also claimed that interest rates simply break up investment risk to suit the requirements of lenders and users of funds. However, the occurrence of the Global Recession in 2008 due to excessive debt financing in real estate (mortgage loans) and the resemblance of interest rate with usury requires investigation of the other side of debt financing. This paper aims to fill this …

The Economic Contribution Of Cherry To The Household Economy In Pakistan. A Case Study From Lower-Hunza, Gilgit Baltistan, Pakistan, Rizwan Akhtar

CBER Conference

The cherry, one of the most recognized fruit crops, has become a significant source of income for rural farmers in Pakistan. However, limited research has been conducted on the economic impact of cherry farming. Consequently, there is a growing demand for a deeper understanding of cherries' economic contribution to the domestic economy. This study used socio-economic data from 315 cherry-producing households in Lower Hunza, GilgitBaltistan, to examine the role of cherries in community income. Data was collected through direct face-to-face interviews and semi-structured questionnaires with cherry producers, emphasizing group family discussions and interactions with local cherry traders. The findings indicate …

Fiscal Decentralization And Education Index; Evidence From Punjab Pakistan, Noor Ahmed

CBER Conference

Disparities in the distribution of public services have persisted throughout Pakistan's history. Current research on regional development has stressed the need of evaluating human development phenomena using spatial models such as density, locality, and distance. The study investigates how fiscal decentralization influences the education index at the district level in Pakistan's Punjab province. The research is based on the education index, which has five components. The Principal Component Analysis (PCA) integrates these variables to provide a final education index. The study's findings revealed that the significant positive effects of fiscal decentralization on the education index at the district level depend …

Teaching Of Economics, Quratulain Shafique

CBER Conference

The research paper aims to analyze the trends in economics education, and its importance in developing knowledgeable citizens, good policymakers, and proficient professionals to meet the challenges of the contemporary economy. The introduction highlights the significance of economics education within society as it is aimed at preparing people for the conditions of globalization, modern technologies, and the transition to knowledge-based economies. It also meets the problem of educators implementing the transition from theoretical to applied economics and in considering differentiated learning needs. This entails assessing certain teaching delivery approaches applied in higher learning institutions and deciding the level of student …

Snap Recipients' Labor Supply In The Presence Of Children In Households, Sanae Tashiro, Jongsung Kim

Mathematics and Economics Faculty Journal Articles

No abstract provided.

The Impact Of Texas’ Esg Ban On Financial And Environmental Outcomes, Porter Olson, Owen Benner

Student Works

This study examines the impact of Texas’ Environmental, Social, and Governance (ESG) investment restrictions using difference-in-differences, quantile regression, and synthetic control methodologies. Our analysis spans economic indicators, environmental outcomes, and financial performance metrics. While we find modest effects across multiple dimensions, including a negative but statistically insignificant impact on overall economic activity, the results suggest heterogeneous impacts across outcome distributions. These findings contribute to the ongoing debate about the economic and environmental implications of ESG-related policies.

Economic Analysis Of Hiv/Aids Treatment Costs And Policies In The U.S. And Canada, William Cramer '28

Best First-Year Seminar Writing

No abstract provided.

Histomorphometric Assessment Of Vibrational Forces On The Extended Midpalatal Suture, Aylin Pasaoglu Bozkurt, Özge Özdal Zincir, Asli Emincik

Journal of Dentistry Indonesia

Objective: This study determined the effects of vibrational forces on bone formation in the retention period of an expanded mid-palatal, histomorphometric suture in a rat model. Methods: Twenty-four 7–8- to 8-week-old male Wistar rats weighing 190.25 ± 15.35 g were separated into groups: only expansion (G1), expansion and 30 Hz vibration application (G2), and expansion and 111 Hz vibration application (G3). After 5 days of expansion, there were 12 days of retention. All animals were sacrificed, and their premaxilla were dissected. A histological examination evaluated the number of osteoblasts, osteoclasts, and capillaries, the amount of mineralized area, and …

Effect Of Violent Conflict On Female Decisionmaking Power Within The Household, Shagufta Sultana

CBER Conference

Women decision-making power within the household is an important component of women empowerment. In recent studies, the effect of violent conflict on women’s decision-making power has become an evolving topic in literature. The current study is an attempt to unleash the effect of terrorist attacks on women’s decision-making within the household in the case of Pakistan. The study examined the impact of terrorist attacks on women’s decision making power during the surge and after the surge in the violent conflict. The study selected the three rounds of data from the Household Integrated Economic Survey (HIES) 2005-06, 2013- 14 and 2018-19. …

Impact Of Multilateral Aid On Female Access To Education And Employment: A Spatiotemporal Analysis Of World Bank (Wb) Aid Projects In Pakistan, Muhammad Ashar Khan, Zashir Naqvi, Saba Nisar Soomro

CBER Conference

Since becoming a member in 1950, Pakistan has received around $40 Billion in development assistance from the World Bank (World Bank, 2023). The current portfolio under the ongoing assistance program includes 58 projects, amounting to about $15 Billion across different provinces and districts (World Bank, 2023). A number of these projects, especially pertaining to economic inclusion, are centered around fostering women's empowerment for sustainable and inclusive economic growth and ending extreme poverty in developing countries. According to WB’s “Gender Strategy 2030”, in line with Sustainable Development Goal 5, one key feature of its assistance is to help overcome “resource” and …

Role Of Greenfield Investment, Institutional Quality, And Economic Activities On Environmental Performance In Belt & Road Initiative Countries, Jamal Hussain, Sajid Hassan

CBER Conference

Researchers have produced varying conclusions on the matter of coexistence of economic activities with the protection or improvement of environmental performance. This study investigates the association between greenfield investments, economic activity, institutional quality, and environmental performance in Belt & Road Initiative (BRI) countries from 2003 to 2022. Yale University's Environmental Performance Index (EPI) assesses environmental performance. Advanced second-generation econometrics estimation approaches address concerns like cross-sectional dependence, potential endogeneity, and heterogeneity. Further analysis is employed across four income-level sub-panels: lowincome (LI), lower-middle-income (LMI), upper-middle-income (UMI), and high-income (HI) countries, covering the years 2003 to 2021 to validate reliability and consistency. This …

Digital Bodyguards: Experimental Evidence On The Role Of Personal Safety On Mobility And Empowerment, Fareena Noor Malhi, Sheheryar Banuri, Zehra Aftab

CBER Conference

This research paper examines the impact of the Women Safety App (WSA) on female mobility in urban Lahore, Pakistan. Through a randomized field experiment targeting lower middle-income households, we evaluate the effectiveness of the WSA in reshaping gender safety perceptions and increasing female presence in public spaces. The intervention includes comprehensive training and awareness sessions, followed by the download and registration of the app on participants' smartphones. Data collected from 319 working-age women reveal significant improvements in mobility patterns and safety perceptions postintervention. Our preliminary findings indicate the intervention significantly impacts extensive margin, increasing the time spent travelling. Further it …

The Power Of Assets: A Catalyst For Multidimensional Well-Being, Nasir Iqbal, Saima Nawaz

CBER Conference

Asset transfer program, known as the "Big Push" intervention, emerges as a powerful tool to promote multidimensional well-being among the poor. However, its effectiveness in settings with decade-long state-provided consumption support remains unclear. This study investigates the impact of asset transfers under the National Poverty Graduation Program (NPGP) in Pakistan, amid an established framework of unconditional cash transfers. Using a quasi-experimental approach, we observe significant enhancements in overall well-being, food consumption, ownership of assets, and social integration among beneficiaries. Furthermore, the NPGP encourages savings behavior among beneficiaries, contributing to their long-term financial resilience. Our findings exhibit substantial differences in the …

Leadership Awakening: Shifting Towards Eco-Consciousness Through Psychedelics, Ladana Edwards

Journal of Conscious Evolution

Corporate leaders, wielding influence and decision-making power over world resources and capital, are key drivers of systemic change to address current social, economic, and ecological crises. To address the myriad complex and interdependent crises, a transformative shift in consciousness is required in leaders and leadership teams, from ego-consciousness towards eco-consciousness, which can be supported through psychedelic experiences. Shifting towards eco-consciousness can facilitate holistic decision making and an expanded sense of leadership responsibility to the planet and all its inhabitants—ultimately supporting the creation of healthier eco-nomics in our Earth community.

Shifts towards leadership eco-consciousness have the potential to open up space …

4th Annual International Conference Proceedings: Rethinking Economics In The Contemporary World, Centre For Business And Economic Research (Cber), School Of Economics And Social Sciences (Sess)

Conference Proceedings

The School of Economics and Social Sciences (SESS), through the Department of Economics and the Center for Business and Economics Research (CBER), opens the call for papers for its fourth international conference: Rethinking Economics in the Contemporary World.

The development of technology, the immediate effects of climate change, complex geopolitical situations, substantial migration, rapid urbanization, increasing income inequality, the emergence of digital economies, and global health crises have all amplified uncertainties and accelerated changes in the economic landscape, underscoring the imperative for better insights and new perspectives in economics profession. This year's conference recognizes the new paradigms and shifts in …

Forecasting Crime Rates Utilizing Machine Learning And Economic Indicators, Owen Miller

Honors Projects

Abstract: The following project utilized the correlation between economic indicators and crime rates to build tree-based machine learning algorithms that predict monthly crime rates in Ohio. The goal of the study was to answer how economic variables could be used in forecasting county level crime rates. A sample of 9 counties were utilized in building regression trees, random forests and evolutionary random forest models. The study concluded that lagged crime rates provided the best predictive ability in forecasting models, while economic variables provided more accuracy to property crime. The study could be furthered by creating models at the department level …

Inference For Regression With Variables Generated By Ai Or Machine Learning, Laura Battaglia, Timothy Christensen, Stephen Hansen, Szymon Sacher

Cowles Foundation Discussion Papers

It has become common practice for researchers to use AI-powered information retrieval algorithms or other machine learning methods to estimate variables of economic interest, then use these estimates as covariates in a regression model. We show both theoretically and empirically that naively treating AI- and ML-generated variables as “data” leads to biased estimates and invalid inference. We propose two methods to correct bias and perform valid inference: (i) an explicit bias correction with bias-corrected confidence intervals, and (ii) joint maximum likelihood estimation of the regression model and the variables of interest. Through several applications, we demonstrate that the common approach …

The Cost Of Happiness: The Implications Of Utilitarianism On Economics, Adam Opp

Liberty University Journal of Statesmanship & Public Policy

Bentham and Mill proposed the utilitarian theory, which has moral and economic applications. Bentham and Mill differed slightly in their ideologies, as Mill critiqued Bentham and argued that man is in a separate category from beasts. To assess this, one must study human nature and if man really is different from the beasts. To this end, utilitarianism will be discussed, but also Aristotle’s discussion on virtue, the magnanimous man, and generosity. The next critical area to discuss is what differentiates humans from beasts, and if humans are distinct. Several characteristics that differentiate men from beasts include mental, psychological, moral, and …

Distributional Impacts Of The Changing Retail Landscape, Yue Cao, Judith A. Chevalier, Jessie Handbury, Hayden Parsley, Kevin R. Williams

Cowles Foundation Discussion Papers

A common tactic to estimate willingness-to-travel exploits variation in the relative proximity of consumers to supplier locations. The validity of these estimates relies on the exogeneity of that consumer-supplier distance. We argue that distance to suppliers is endogenous because suppliers strategically choose locations to target consumers; we introduce a novel instrument to address this form of endogeneity. Using geolocation data from millions of smartphones, we estimate consumer preferences for specific retail chains across income groups and regions. We show that accounting for distance endogeneity significantly alters willingness-to-travel measures. Contrary to the prevailing “retail apocalypse” narrative, we find that consumer surplus …

Medicare To Veterans Affairs Cost Shifting-A Challenging Conundrum, Kenneth W. Kizer, Said A. Ibrahim

JeffMD Academic Affairs

No abstract provided.

Optimal Unilateral Carbon Policy, Samuel Kortum, David A. Weisbach

Cowles Foundation Discussion Papers

Climate policy by a coalition of countries can shift activities—extraction, production, and consumption—to regions outside the coalition. We build a stylized general-equilibrium model of trade and carbon externalities to derive a coalition’s optimal Pareto-improving policy in such an environment. It can be implemented through: (i) a tax on fossil-fuel extraction at a rate equal to the global marginal harm from carbon emissions, (ii) a tax on imports of energy and goods, and a rebate of the tax on exports of energy but not goods, all at a lower rate per unit of carbon than the extraction tax rate, and (iii) …