Social and Behavioral Sciences Commons^™

Investing In America's Workforce 2017, Brad J. Hershbein

Brad J. Hershbein

From the Day 3 Plenary Lunch of the Fed's Capstone Conference in Austin, TX -- Expanding the Capacity to Invest: Policy, Transparency and Accountability. Investments for workforce development require a foundation of institutional supports that will ensure accountability. This panel, representing diverse perspectives from the public, private and nonprofit sectors, explored the institutions, policies and norms needed to establish, reinforce and facilitate new and increased investments.

Bank Lending Channel Effectiveness And Loan Sales In The Us, Sharmila K. King, Michael R. Jonas

Sharmila K. King

This paper examines whether banks that sell loans in the secondary market respond differently to a monetary policy innovation from those that do not engage in loan sales. We answer this question by measuring the policy response while controlling for loan sales activities. Using a simple theoretical model and U.S. bank-level Call Report longitudinal data for the period 1991Q1-2008 Q4, we conduct a dynamic panel regression analysis. We find that the long-run response to a typical policy shock is three times greater for mid-size banks engaging in loan sales. Given the increase in proportion of banks engaging in loan sales, …

Identifying Entrepreneur Characteristics And Attributes In Relation To Small And Medium Sized Enterprises In A Regional Context: A Case Study Of The Greater Illawarra Region, Amir Arjomandi, Scott Burrows, Charles Harvie

Amir Arjomandi

What Do Economists Really Think Of Bernie?, Richard Adelstein

Richard Adelstein

How Movie References Can Make Teaching Theories More Accessible, Lukas K. Danner

Dr. Lukas K. Danner

No abstract provided.

Opec, The Seven Sisters, And Oil Market Dominance: An Evolutionary Game Theory And Agent-Based Modeling Approach, Aaron Wood, Charles F. Mason, David C. Finnoff

Charles F Mason

No abstract provided.

Price Discontinuities In The Market For Rins, Charles F. Mason, Neil A. Wilmot

Charles F Mason

No abstract provided.

From Bards To Search Engines: Finding What Readers Want From Ancient Times To The World Wide Web, Stephen Maurer

Stephen M. Maurer

Copyright theorists often ask how incentives can be designed to create better books, movies, and art. But this is not the whole story. As the Roman satirist Martial pointed out two thousand years ago, markets routinely ignore good and even excellent works. The insight reminds us that incentives to find content are just as necessary as incentives to make it. Recent social science research explains why markets fail and how timely interventions can save deserving titles from oblivion. This article reviews society’s long struggle to fix the vagaries of search since the invention of literature. We build on this history …

On The Strategic Use Of Border Tax Adjustments As A Second-Best Climate Policy Measure, Charles F. Mason, Edward B. Barbier, Victoria Umanskaya

Charles F Mason

No abstract provided.

Review: Halper, Stefan A. Beijing Consensus: Legitimizing Authoritarianism In Our Time. New York, Ny: Basic Books, [2010] 2012. 336 Pp., Lukas K. Danner

Dr. Lukas K. Danner

No abstract provided.

Some Matlab Routines To Compute Crps And Quantile Weighted Ps, Michael S. Smith

Michael Stanley Smith

Three routines to compute the CRPS of Gneiting and Raftery (JASA 2007) and the quantile weighted probability score (QWPS) extension in Gneiting and Ranjan (JBES, 2011). They are based on numerical integration as discussed in the Appendix of Smith and Vahey (2015), and I have found them to be much more accurate than using Monte Carlo approximation to the difference of two expectations, as advocated in Panagiotelis and Smith (IJF, 2008).

Pipeline Congestion And Basis Differentials, Matthew E. Oliver, Charles F. Mason, David C. Finnoff

Charles F Mason

No abstract provided.

Review: Yueh, Linda. China’S Growth: The Making Of An Economic Superpower. New York, Ny: Oxford University Press, 2013. 384 Pp., Lukas K. Danner

Dr. Lukas K. Danner

No abstract provided.

Monetary Intervention Really Did Mitigate Banking Panics During The Great Depression: Evidence Along The Atlanta Federal Reserve District Border, Andrew Jalil

Andrew Jalil

This paper argues that monetary intervention alleviated banking panics during the early stages of the Great Depression. Throughout the course of the depression, the Federal Reserve Bank of Atlanta aggressively intervened to stabilize its banking system. To assess the effectiveness of these policies, I analyze the performance of banks along counties straddling the border of the Atlanta Federal Reserve District. My results indicate that expansionary initiatives designed to inject liquidity into the banking system reduced the incidence of bank suspensions by 32 to 48% in some regions. Moreover, an analysis of the balance sheets of individual Federal Reserve Districts suggests …

The Rise Of The Megacorporation, Richard Adelstein

Richard Adelstein

Gender Based Differences In Managerial Experience: The Case Of Informal Firms In Rwanda, Mohammad Amin, Khrystyna Kushnir

Mohammad Amin

The paper contributes to the literature on gender-based disparity in human capital by extending existing results on educational attainment to the number of years of experience that female vs. male managers have among informal or unregistered firms. Using the case of Rwanda, results show that the number of years of experience for female managers is significantly lower equaling 80-88 percent of their male counterparts. We also find that this gender disparity is higher among the relatively older managers and among firms in the relatively less developed city of Butare compared with the more developed city of Kigali.

Do Retail Firms Favor Female Managers? Evidence From Survey Data In Developing Countries, Mohammad Amin, Asif Islam

Mohammad Amin

Using firm-level data for 87 developing countries, the paper analyzes how the likelihood of a firm having female vs. male top manager varies across sectors. The service sector is often considered to be more favorable towards women compared with men vis-à-vis the manufacturing sector. While our results confirm a significantly higher presence of female managers in services vs. manufacturing, the result is entirely driven by the retail firms with little contribution from other service sectors such as wholesale, construction and other services. We also find that the higher presence of female managers in the retail sector vs. manufacturing is much …

New Establishment Dynamics: Business Formation And Survival Trends In Ohio, Afia Yamoah, Ziona Austrian, Joel A. Elvery

Ziona Austrian

The Ohio New Establishments Dynamics data (O-NED) is a new data set, developed by the College and Center. O-NED tracks employment and number of establishments for establishments that first started employing people between the 2nd quarter of 1997 and the 1st quarter of 2008. The report “New Establishment Dynamics: Business Formation and Survival Trends in Ohio” summarizes how trends in employment growth and establishment survivorship differ across sectors of the economy and various regions of Ohio. This new data set allows us to analyze the number of establishments born in a specific year called “birth cohort” and document their survival …

A Guide To Economic Development Practice, Ziona Austrian, Jill S. Taylor

Ziona Austrian

No abstract provided.

Knowledge & Innovation In Africa: Scenarios For The Future, Jeremy De Beer, Shirin Elahi, Dick Kawooya, Chidi Oguamanam, Nagla Rizk

Jeremy de Beer

No abstract provided.

The Rise Of Planning In Industrial America, 1865-1914

Richard Adelstein

How American firms grew very large after the Civil War, and how Americans responded to them.

Between “Metaphysics Of The Stone Age” And The “Brave New World”: H.L.A. Hart On The Law’S Assumptions About Human Nature, Péter Cserne

Péter Cserne

This paper analyses H.L.A. Hart’s views on the epistemic character of the law’s assumptions about human behaviour, as articulated in Causation in the Law and Punishment and Responsibility. Hart suggests that the assumptions behind legal doctrines typically combine common sense factual beliefs, moral intuitions, and philosophical theories of earlier ages with sound moral principles, and empirical knowledge. An important task of legal theory is to provide a ‘rational and critical foundation’ for these doctrines. This does not only imply conceptual clarification in light of an epistemic ideal of objectivity but also involves legal theorists in ‘enlightenment’ about empirical facts, ‘demystification’ …

Financing Of Public Good By Taxation In A General Equilibrium Economy: Theory And Experimental Evidence, Shyam Sunder

Shyam Sunder

No abstract provided.

Financing Of Public Good By Taxation In A General Equilibrium Economy: Theory And Experimental Evidence, Shyam Sunder

Shyam Sunder

No abstract provided.

Southern African Economic Integration: Evidence From An Augmented Gravity Model, Kirsten Wandschneider, Thierry Warren, Phanindra Wunnava, Optat Tengia

Kirsten Wandschneider

This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate Africa-specific variables such as existing economic blocs in the region, colonial heritage, and the convergence of living standards. Our analysis shows that the prospect for further integration in Southern Africa is promising, but many challenges still persist. The existing economic blocs can provide a first stepping stone to a larger currency union, but countries continuously have to cultivate good governance and …

Eco-Labeling And Market Equilibria With Noisy Certification Tests, Charles F. Mason

Charles F Mason

No abstract provided.

Economics Versus Politics In Trade Policy, Daron Djerdjian

Daron Djerdjian

Do economies of scale contribute to our understanding of trade policy or is ideology and inequality sufficient? We develop a unified theoretical framework that encompasses both strategic economic and political variables deemed to be important in explaining trade policy. We predict that an increase in the scale effect leads to restrictive trade policies in labor-abundant countries and liberal trade policies in capital-abundant countries. Using cross-country data on economies of scale, ideology, inequality and various measures of trade barriers we confirm our predictions and establish that a unified framework, which incorporates economies of scale in production, performs better in explaining trade …

Shooting On A Moving Target: Explaining European Bank Rates During The Interwar Period, Kirsten Wandschneider

Kirsten Wandschneider

This paper describes the monetary policy response of countries during the inter-war period. How did central banks react to the Great Depression? How did countries balance the externals demands of the gold standard with domestic policy pressures? What was the optimal level of international policy coordination? We use weekly data over the period 1925-1936 to estimate central bank rate reaction functions for a panel of 22 countries during the inter-war gold standard. The estimates suggest to us changing objectives for monetary policy. Countries moved away from the sole objective of convertibility and towards a more ‘modern’ monetary policy based on …

The Fiscal Impact Of The War Of The Pacific, Kirsten Wandschneider, Richard Sicotte, Catalina Vizcarra

Kirsten Wandschneider

In the War of the Pacific (1879–1883), Chile defeated Peru and Bolivia, and acquired territories that contained vast deposits of sodium nitrate, a leading fertilizer. Chile’s export tax on nitrates later accounted for at least one half of all government revenue. We employ a multi-country model of export taxation in order to simulate the potential government revenues that Bolivia, Chile and Peru could have earned under the counterfactual scenario that Chile did not conquer the nitrate-rich provinces of its adversaries. Our results are that Peruvian and Bolivian government revenues could have been at least double their historical levels. We estimate …

Portable Savings Account Module, Vijaya Krushna Varma Mr

VIJAYA KRUSHNA VARMA Mr

Portable savings account is an involuntary tax paying account. Citizens need not maintain separate account books for paying either Direct taxes or Indirect taxes. Citizens need not submit tax returns annually. There will be no expenditure cost for the government for collecting taxes.