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Full-Text Articles in Social and Behavioral Sciences

Information Loss In Volatility Measurement With Flat Price Trading, Peter C. B. Phillips, Jun Yu Nov 2023

Information Loss In Volatility Measurement With Flat Price Trading, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

A model of financial asset price determination is proposed that incorporates flat trading features into an efficient price process. The model involves the superposition of a Brownian semimartingale process for the effcient price and a Bernoulli process that determines the extent of price trading. The approach is related to sticky price modeling and the Calvo pricing mechanism in macroeconomic dynamics. A limit theory for the conventional realized volatility (RV) measure of integrated volatility is developed. The results show that RV is still consistent but has an inflated asymptotic variance that depends on the probability of flat trading. Estimated quarticity is …


The Influences Of The Public Health Care System And Education System On The Economic Growth Of Swaziland, Grace Greer May 2023

The Influences Of The Public Health Care System And Education System On The Economic Growth Of Swaziland, Grace Greer

International and Global Studies Undergraduate Honors Theses

The Kingdom of Eswatini, also known as Swaziland, has one of the youngest populations in the world with over 70% of citizens being under the age of 18 years old. This creates a substantial opportunity for economic, social, and educational growth in a country previously plagued with diseases such as HIV/AIDS, poor health care infrastructure cutting off thousands from basic care, and an educational system with a very low attendance rate and an even lower graduation rate. By evaluating the root causes of such issues dating back to the colonial era there is an opportunity to reprioritize health care and …


Bubble Testing Under Polynomial Trends, Xiaohu Wang, Jun Yu Mar 2023

Bubble Testing Under Polynomial Trends, Xiaohu Wang, Jun Yu

Research Collection School Of Economics

This paper develops the asymptotic theory of the least squares estimator of the autoregressive (AR) coefficient in an AR(1) regression with intercept when data is generated from a polynomial trend model in different forms. It is shown that the commonly used right-tailed unit root tests tend to favor the explosive alternative. A new procedure, which implements the right-tailed unit root tests in an AR(2) regression, is proposed. It is shown that when the data generating process has a polynomial trend, the test statistics based on the new procedure cannot find evidence of explosiveness. Whereas, when the data generating process is …


Impact Of Geographical Diversification And Limited Attention On Private Equity Fund Returns, Victor Ong Feb 2023

Impact Of Geographical Diversification And Limited Attention On Private Equity Fund Returns, Victor Ong

Research Collection Lee Kong Chian School Of Business

This article analyzes the effect of geographical diversification on global private equity (PE) fund returns. We find that there is a negative correlation between geographical diversification and PE fund returns. To establish the causality between geographical diversification and PE fund returns, we employ an instrumental variable analysis where the instrument used is the stock market capitalization of the host country where the PE fund is based. Our results apply to Net IRR, TVPI and DPI as dependent variables used to proxy for PE fund returns in the main regression model. A one standard deviation increase in geographical diversification results in …


The Impact Of Covid-19 And Associated Policy Responses On Global Food Security, Edward J. Balistreri, Felix Baquedano, John C. Beghin Jan 2023

The Impact Of Covid-19 And Associated Policy Responses On Global Food Security, Edward J. Balistreri, Felix Baquedano, John C. Beghin

Economics Department Faculty Publications

We analyze the impact of the COVID-19 pandemic and associated policy responses on the global economy and food security in 80 low- and middle-income countries. We use a global economy-wide model with detailed disaggregation of agricultural and food sectors and develop a business-as-usual baseline for 2020 and 2021 called “But-for-COVID” (BfC). We then shock the model with aggregate income shocks derived from the IMF World Economic Outlook for 2020 and 2021. We impose total-factor productivity losses in key sectors as well as consumption decreases induced by social distancing. The resulting shocks in prices and incomes from the CGE model simulations …


Landscape With Invisible Hand, John C. Lyden Jan 2023

Landscape With Invisible Hand, John C. Lyden

Journal of Religion & Film

This is a film review of Landscape With Invisible Hand (2023), directed by Cory Finley.


The Remittance, Foreign Direct Investment, Export, And Economic Growth In Bangladesh: A Time Series Analysis, Al Mamun, M H M Imrul Kabir Jan 2023

The Remittance, Foreign Direct Investment, Export, And Economic Growth In Bangladesh: A Time Series Analysis, Al Mamun, M H M Imrul Kabir

Arab Economic and Business Journal

This research empirically examined the effect of internal and external factors on the economic growth of Bangladesh using the annual data from 1976 to 2019. ARDL bounds tests were used to detect cointegration and understand the dynamic effect. This study mainly identified the positive and negative casualties because remittance and export have a significant positive role, and FDI has an adverse role in the economic growth process. Furthermore, this study recommends that the government take appropriate steps to increase export, the inflow of remittance and FDI to achieve long-run economic growth, considering the impact of COVID-19 and present Russia- Ukraine …


Exploring Permanency Of Pandemic Influenced Changes In Habitual Consumption Behaviour, Ray Titus, Sejal Valera, Debashish Sengupta Jan 2023

Exploring Permanency Of Pandemic Influenced Changes In Habitual Consumption Behaviour, Ray Titus, Sejal Valera, Debashish Sengupta

Arab Economic and Business Journal

The pandemic has universally disrupted the way people live and socialise. People’s behavioural patterns have also been significantly influenced by the Covid-19 pandemic. A study conducted in Singapore found evidence of at least 17 behavioural changes triggered by Covid-19 pandemic. Another study done in Italy found that there was a high intention to adopt protective behaviours post the Covid-19 lockdown. Similarly, a study done in South Africa indicated enhanced behavioural responses to Covid-19 and consequently the evolution of preventive behaviours. The behavioural changes triggered by Covid-19 pandemic are likely to extend into consumption territory and impact consumer behaviour significantly. A …


From Case Studies To Experiential Learning. Is Simulation An Effective Tool For Student Assessment?, Bassem E Maamari, Darin El-Nakla, Jan 2023

From Case Studies To Experiential Learning. Is Simulation An Effective Tool For Student Assessment?, Bassem E Maamari, Darin El-Nakla,

Arab Economic and Business Journal

With the fast changes enforced by the COVID-19, many business schools found themselves streamed into using new technology and platforms to safeguard the academic year 2020-2021. The introduction of business simulation for student assessment before graduating from the undergraduate program has always presented a challenge in terms of approach to use. Today, business simulation is introduced, not only to enhance students’ learning experience but also to satisfy the assessment institutional requirement of closing the gap. This comparative quantitative study uses feedback from students of two cohorts assessed during the same academic year, one using the case method and the second …


Analysis Of The Emerging Pilot Workforce, James Birdsong, Kurt Reesman Jan 2023

Analysis Of The Emerging Pilot Workforce, James Birdsong, Kurt Reesman

National Training Aircraft Symposium (NTAS)

The pilot workforce grew by approximately 20,000 pilots between 2011 – 2019 before shedding almost 6,500 jobs in 2020 due to COVID-19. Long-term forecasts predict industry recovery and growth and the need for robust pilot hiring since approximately 50% of today’s pilot workforce will meet the mandatory retirement age within 15 years.

The current workforce consists of four generations, with the youngest (Generation Z) just beginning to join the airline ranks. The oldest generation (Baby Boomers) will be exiting the workforce within ten years, leaving three generations (Generations X, Y, and Z), two of which have spent their entire lives …


Land Tenure Security, Place Satisfaction And Loyalty In The Peri-Urban Area Of Ibadan City, Nigeria, Taiwo Oladapo Babalola Jan 2023

Land Tenure Security, Place Satisfaction And Loyalty In The Peri-Urban Area Of Ibadan City, Nigeria, Taiwo Oladapo Babalola

Regional Sustainability

Land tenure security is pertinent to achieving the sustainable development agenda in cities where land is needed and useful for development purposes. Sufficient empirical research has been done to prove the importance of tenure security for investment, resilience, conservation, food security, as well as health and well-being, but it has not been clarified if and how land tenure security could adequately influence place loyalty and satisfaction with the residential environment, as it is clear that place loyalty and satisfaction are pertinent to inclusive development. Using the case of Ibadan City, the study examined how different dimensions of tenure security could …


Optimal Decision-Making Considering Inter-Supply-Chain Competition And Negative-Spillover From Environmental Effort, Wang Jiguang, Hu Yushang, Wu Yucai Jan 2023

Optimal Decision-Making Considering Inter-Supply-Chain Competition And Negative-Spillover From Environmental Effort, Wang Jiguang, Hu Yushang, Wu Yucai

Regional Sustainability

Focusing on negative-spillover from environmental effort, this paper explores the issues of competition and optimal decision-making based on two competing two-stage manufacturer-dominated supply chains: centralized and decentralized. We develop the Stackelberg competition models according to four identified competition scenarios (pure centralized structure-CC, mixed structure-DC, mixed structure-CD, and pure decentralized structure-DD). By comparing the results of the four scenarios, we find that negative-spillover from environmental effort negatively impacts environmental-effort providers and reduces the optimal profit of the manufacturer who provide the environmental effort, which in turn reduces the profit of the entire supply chain. The inter-supply-chain competition also produces a negative …


The Perceived Image Of Nudity In Digital Advertisements, Lindos Daou, Lea Maksoud Jan 2023

The Perceived Image Of Nudity In Digital Advertisements, Lindos Daou, Lea Maksoud

Arab Economic and Business Journal

The perception of nudity in ads is a very wide and critical topic and it has been commonly used in advertising campaigns in different countries. Many factors influence the perception of customers in advertisements such as gender, education level, culture and race. The purpose of this study is to determine how taboo related to sex and nudity is perceived in ads and how it effects the brand itself. Data was collected via an online questionnaire and was distributed to Lebanese women of different age groups, educational levels, religions, affiliations and occupations. The results showed that nudity level affects consumers’ attention …


Prescription Drug Retail Sales In The Mountain West, Caren Royce Yap, Caitlin J. Saladino, William E. Brown Jr. Jan 2023

Prescription Drug Retail Sales In The Mountain West, Caren Royce Yap, Caitlin J. Saladino, William E. Brown Jr.

Health

This fact sheet synthesizes data on prescription drug retail sales in the Mountain West (Arizona, Colorado, Nevada, New Mexico, and Utah). "Retail Sales for Prescription Drugs Filled at Pharmacies by Payer," a 2019 report by the Kaiser Family Foundation, includes data on the amount of retail sales for prescription drugs made in each state by dollar amount, along with the method of coverage, including commercial, Medicare, Medicaid and cash payment.


Journal Of Economics And Politics: Examining The Transition To An Online Publication, David Mcclough Jan 2023

Journal Of Economics And Politics: Examining The Transition To An Online Publication, David Mcclough

The Journal of Economics and Politics

No abstract provided.


Unfinished Business, David Mcclough Jan 2023

Unfinished Business, David Mcclough

The Journal of Economics and Politics

No abstract provided.


The Methodology Of Multiple Regressions For Gdp Per Capita For Nations In The World Between 0 Ce And 1940, Robert Rogers Jan 2023

The Methodology Of Multiple Regressions For Gdp Per Capita For Nations In The World Between 0 Ce And 1940, Robert Rogers

The Journal of Economics and Politics

A reduced-form model of GDP per capita is estimated using the classical econometric method and two Bayesian techniques, Extreme Bounds Analysis (EBA) and Bayesian Analysis of Classical Estimation (BACE) for the two millenniums. For several variables, such as the impact of colonialism, the Goldstone hypothesis of efflorescence increasing economic growth, and the impact of technology, this paper lends support, especially when the Bayesian methods are applied. Other results are mixed. Generally, the results support use of Bayesian methods by eliminating hypotheses that are not consistently supported over all models.


Association Between Low Health Literacy And Adverse Health Behaviors In North Carolina, 2016, Manan Roy, Adam Hege, Erin D. Bouldin Jan 2023

Association Between Low Health Literacy And Adverse Health Behaviors In North Carolina, 2016, Manan Roy, Adam Hege, Erin D. Bouldin

Journal of Appalachian Health

Introduction: Health literacy (HL) is an urgent public health challenge facing the U.S. HL is a critical factor in health inequities and exacerbates underlying social determinants of health.

Purpose: This study assesses the association between low HL (LHL) and adverse health behaviors, which contribute to poor health.

Methods: Researchers used North Carolina’s 2016 Behavioral Risk Factor Surveillance System data, namely, the Health Literacy optional module which asks respondents to rate how difficult it is for them to get health-related advice or to understand medical information (verbal or written). Health behaviors analyzed were excessive alcohol consumption, lack of adequate exercise and …


Older Peoples’ Willingness To Delay Social Security Claiming, Raimond Maurer, Olivia S. Mitchell Jan 2023

Older Peoples’ Willingness To Delay Social Security Claiming, Raimond Maurer, Olivia S. Mitchell

Wharton Pension Research Council Working Papers

We have designed and fielded an experimental module in the 2014 HRS which seeks to measure older persons’ willingness to voluntarily defer claiming of Social Security benefits. In addition, we evaluate the stated willingness of older individuals to work longer, depending on the Social Security incentives offered to delay claiming their benefits. Our project extends previous work by analyzing the results from our HRS module and comparing findings from other data sources which included very much smaller samples of older persons. We show that half of the respondents would delay claiming if no work requirement were in place under the …


Time Discounting And Economic Decision-Making Among The Elderly, David Huffman, Raimond Maurer, Olivia S. Mitchell Jan 2023

Time Discounting And Economic Decision-Making Among The Elderly, David Huffman, Raimond Maurer, Olivia S. Mitchell

Wharton Pension Research Council Working Papers

This research project evaluates the extent of heterogeneity in time discounting among elderly Americans, as well as its role in explaining older peoples’ key behaviors. We first show how older Americans evaluate simple (hypothetical) intertemporal choices in which payments now are compared with payments in the future. This adds to the literature on time horizon experiments by focusing on a nationally representative sample of persons age 70+. Using the indicators derived from this experiment, we show how differences in discounting patterns are associated with characteristics of particular importance in elderly populations, such as serious health and mental conditions. We then …


Putting The Pension Back In 401(K) Plans: Optimal Versus Default Longevity Income Annuities, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell Jan 2023

Putting The Pension Back In 401(K) Plans: Optimal Versus Default Longevity Income Annuities, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell

Wharton Pension Research Council Working Papers

Most retirees take payouts from their defined contribution pensions as lump sums, but the US Treasury recently moved to encourage firms and individuals to convert some of the $15 trillion in plan balances into longevity income annuities paying lifetime benefits from age 85 onward. We evaluate the welfare implications of this reform using a calibrated lifecycle consumption and portfolio choice model embodying realistic institutional considerations. We show that defaulting a fixed fraction of workers’ 401(k) assets over a dollar threshold is a cost-effective and appealing way to enhance retirement security, enhancing welfare by up to 20% of retiree plan accruals.


Optimal Social Security Claiming Behavior Under Lump Sum Incentives: Theory And Evidence, Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana Schimetschek Jan 2023

Optimal Social Security Claiming Behavior Under Lump Sum Incentives: Theory And Evidence, Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, Tatjana Schimetschek

Wharton Pension Research Council Working Papers

People who delay claiming Social Security receive higher lifelong benefits upon retirement. We survey individuals on their willingness to delay claiming later, if they could receive a lump sum in lieu of a higher annuity payment. Using a moment-matching approach, we calibrate a lifecycle model tracking observed claiming patterns under current rules and predict optimal claiming outcomes under the lump sum approach. Our model correctly predicts that early claimers under current rules would delay claiming most when offered actuarially fair lump sums, and for lump sums worth 87% as much, claiming ages would still be higher than at present.


A Forestry Trade Data Discrepancy Analysis, Morgan Alyce Daigle Jan 2023

A Forestry Trade Data Discrepancy Analysis, Morgan Alyce Daigle

LSU Master's Theses

Trade data across multiple databases experience unavailability across some countries/forestry products, inconsistency, and unreliability; and these qualities manifest as discrepancies in the data. Literature provides evidence of discrepancies and inconsistencies within international trade statistics, including documented cases in which they are present within agriculture sector trade.

While researchers have worked to pinpoint factors to explain discrepancies, studies on the forestry trade databases are not as prevalent. Therefore, more research needs to be conducted to identify discrepancies within forest sector products trade data to understand the nature of discrepancies found between different bilateral trading partners.

The goal of this thesis is …


Aligning Kresa Efe/Cte Course Offerings With Local Business Needs: Results Of Two Studies, W.E. Upjohn Institute For Employment Research Jan 2023

Aligning Kresa Efe/Cte Course Offerings With Local Business Needs: Results Of Two Studies, W.E. Upjohn Institute For Employment Research

Reports

No abstract provided.


Fixed And Variable Longevity Annuities In Defined Contribution Plans: Optimal Retirement Portfolios Taking Social Security Into Account, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell Jan 2023

Fixed And Variable Longevity Annuities In Defined Contribution Plans: Optimal Retirement Portfolios Taking Social Security Into Account, Vanya Horneff, Raimond Maurer, Olivia S. Mitchell

Wharton Pension Research Council Working Papers

This paper investigates retirees’ optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits through delayed claiming. We determine that including deferred income annuities in DC accounts is welfare enhancing for all sex/education groups examined. We also show that providing access to well-designed variable deferred annuities with some equity exposure further enhances retiree wellbeing, compared to having access only to fixed annuities. Nevertheless, for the least educated, delaying claiming Social Security is preferred, …


Ro Khanna, Dignity In A Digital Age: Making Tech Work For All Of Us (2022), James W. Gentry Jan 2023

Ro Khanna, Dignity In A Digital Age: Making Tech Work For All Of Us (2022), James W. Gentry

Markets, Globalization & Development Review

No abstract provided.


Evolving Marketization, Societal Trends, And Indicators In Chile And The Andean Region, Cristian Andres Sepulveda, Clifford J. Shultz, Mark Peterson Jan 2023

Evolving Marketization, Societal Trends, And Indicators In Chile And The Andean Region, Cristian Andres Sepulveda, Clifford J. Shultz, Mark Peterson

Markets, Globalization & Development Review

The effects of marketization on Chile and the broader Andean Region are profound and systemic. Key indicators reveal trends toward economic growth, improved social conditions, and sustainable development. The marketization of the Andean Region, however, is a complex and evolving process. We report on recent developments, which necessitate some reflection on trends and prognoses. In particular, while marketization has led to better education, increased social mobility, and enhanced well-being, one of the most important challenges facing countries in the region is ensuring that the benefits of marketization are shared equitably among all members of society. Priorities include further improvements in …


Complex Impacts Of Marketization And Digitalization, Deniz Atik, Nikhilesh Dholakia Jan 2023

Complex Impacts Of Marketization And Digitalization, Deniz Atik, Nikhilesh Dholakia

Markets, Globalization & Development Review

No abstract provided.


Commercialization Of Separated Human Body Parts - Unpacking Instrumentalization Approach, Arseny Shevelev, Georgy Shevelev Jan 2023

Commercialization Of Separated Human Body Parts - Unpacking Instrumentalization Approach, Arseny Shevelev, Georgy Shevelev

Pace International Law Review

The principle of non-commercialization, which prohibits trade in separated human body parts, has long been firmly embedded in many European legal orders and has become an integral part of them. However, many new uses for human biomaterials have now been discovered, and the need for them has reached a historical climax. This paper aims to explain the main tenets of non-commercialization theory, including such principles as human dignity and need to protect human’s health, and to show that these categories have so far been understood in a very one-sided and visceral way, and largely in contradiction to their true spirit. …


Racial Disparities In School Poverty And Spending: Examining Allocations Within And Across Districts, Robert Bifulco, Sarah Souders Jan 2023

Racial Disparities In School Poverty And Spending: Examining Allocations Within And Across Districts, Robert Bifulco, Sarah Souders

Center for Policy Research

Using recently available school-level finance data, we compare exposure to low-income classmates and average per pupil spending for black, Hispanic, and white students. Using within metropolitan area comparisons, we find that the typical black and Hispanic students attend schools with much higher proportions of low-income students than the typical white student, and that per pupil spending in the typical black and Hispanic students’ schools is higher than in the typical white student’s school. Drawing on estimates of the additional spending required to provide low-income students equal educational opportunity, we find that it is unlikely that the additional spending in schools …