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Economics

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Economics Faculty Publications

2007

Articles 1 - 9 of 9

Full-Text Articles in Social and Behavioral Sciences

Risk And Recovery, John Austin, Chris Decker, Tom Doering, Ernie Goss, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson, Keith Turner Dec 2007

Risk And Recovery, John Austin, Chris Decker, Tom Doering, Ernie Goss, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson, Keith Turner

Economics Faculty Publications

The crisis in the housing and financial sectors has led to a dramatic slowdown in U.S. economic growth. Fourth quarter GDP growth and job growth are expected to be anemic and the economy may fall into recession in 2008. Indeed, several of the dozen members of the Nebraska Business Forecast Council do believe that the U.S. economy will likely slip into recession during 2008. However, the overall consensus of the Council is that the U.S. economy will avoid a recession. Economic growth will be slow in the first three quarters of 2008 before recovering in late 2008 and 2009.

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Wright State University Regional Economic Report, Fall 2007, Thomas L. Traynor, Jessica Livingston Oct 2007

Wright State University Regional Economic Report, Fall 2007, Thomas L. Traynor, Jessica Livingston

Economics Faculty Publications

No abstract provided.

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Thriving At Amazon: How Schumpeter Lives In Books Today, Arthur M. Diamond Jr. Sep 2007

Thriving At Amazon: How Schumpeter Lives In Books Today, Arthur M. Diamond Jr.

Economics Faculty Publications

Amazon.com’s “Search Inside the Book” feature provides a new and exciting tool for bibliometric research. Over the last few years, a growing number of books listed on Amazon. com reference Schumpeter in some way. As of May 3, 2007, Amazon listed 8,086 books that in some way refer to Schumpeter. Of these, I currently have names and titles of 3,719 books in the Schumpeter Amazon database. Of these, I have done content-analysis for 1,176 books that make reference to Schumpeter. The main result is that a significant number of the references to Schumpeter are related to creative destruction. The percent …

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A Soft Landing And A Long Layover, John Austin, Chris Decker, Tom Doering, Ernie Goss, Philip Baker, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson Jul 2007

A Soft Landing And A Long Layover, John Austin, Chris Decker, Tom Doering, Ernie Goss, Philip Baker, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson

Economics Faculty Publications

The U.S. economy achieved a soft landing in 2006. This was a desirable outcome. The economy needed a break from its rapid, and potentially inflationary, growth in 2004 and 2005, before taking off again. But, that new flight has been delayed. The aggregate economy has remained mired in slow growth in the first half of 2007. Pockets of the economy, such as the labor market, have been strong, but a weak housing sector has limited overall growth. Further, signs point to one or two more quarters of weaker growth, before the economy is able to take off again.

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Wright State University Regional Economic Report, May 2007, Thomas L. Traynor May 2007

Wright State University Regional Economic Report, May 2007, Thomas L. Traynor

Economics Faculty Publications

No abstract provided.

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Taxpayer Services And Tax Compliance, James Alm, Michael L. Jones, Michael Mckee Jan 2007

Taxpayer Services And Tax Compliance, James Alm, Michael L. Jones, Michael Mckee

Economics Faculty Publications

An important trend in tax administration policies in recent years is the recognition that the traditional “enforcement” paradigm of tax administration, in which taxpayers are viewed and treated as potential criminals and the emphasis is exclusively on repression of illegal behavior through frequent audits and stiff penalties, is incomplete. A revised “service” paradigm recognizes the role of enforcement, but also emphasizes the role of the tax administration as a facilitator and a provider of services to taxpayer-citizens (Alm and Martinez-Vazquez, 2003). Indeed, many recent tax administration reforms around the world have also embraced this alternative paradigm with some success. However, …

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Efficiency In Deregulated Electricity Markets: Offer Cost Minimization Vs. Payment Cost Minimization Auction, Rimvydas Baltaduonis Jan 2007

Efficiency In Deregulated Electricity Markets: Offer Cost Minimization Vs. Payment Cost Minimization Auction, Rimvydas Baltaduonis

Economics Faculty Publications

A payment cost minimization (PCM) auction has been proposed to solve the problem of inflated wholesale electricity prices. In the electricity industry, where even small changes in $/MW are worth tens of millions of dollars, it is highly important that policy makers have a good understanding of the tradeoffs and impacts of new institutional rules. In this paper we examine efficiency performance of the proposed PCM auction in contrast with the offer cost minimization (OCM) auction currently used by most independent system operators (ISOs) in the United States. For most of the analysis we concentrate on production efficiency, which is …

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Two-Stage Team Rent-Seeking: Experimental Analysis, John J. Cadigan Jan 2007

Two-Stage Team Rent-Seeking: Experimental Analysis, John J. Cadigan

Economics Faculty Publications

This paper presents a two-stage team rent-seeking model with a contest prize that is not excludable among winning team members. When early effort is a perfect substitute for late effort, early actors can free ride on their late-moving teammates. However, when early and late efforts are complements, all team members exert positive effort levels. Asymmetries in early effort reduce effort choices for all late movers. The theory is tested with laboratory experimental methods. Although subjects overinvest relative to the Nash equilibrium in all treatments, chosen effort levels provide limited support for the model. Early movers exerted higher effort in the …

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Internal Increasing Returns To Scale And Economic Growth, John A. List, Haiwen Zhou Jan 2007

Internal Increasing Returns To Scale And Economic Growth, John A. List, Haiwen Zhou

Economics Faculty Publications

This study develops a model of endogenous growth based on increasing returns due to firms' technology choices. Particular attention is paid to the implications of these choices, combined with the substitution of capital for labor, on economic growth in a general equilibrium model in which the R&D sector produces machines to be used for the sector producing final goods. We show that incorporating oligopolistic competition in the sector producing finals goods into a general equilibrium model with endogenous technology choice is tractable, and we explore the equilibrium path analytically. The model illustrates a novel manner in which sustained per capita …

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