Social and Behavioral Sciences Commons^™

Iraq Contracts Policy Bolsters Terrorist Agenda, Thierry Warin

Thierry Warin

Paul Wolfowitz, the US deputy secretary of defence, announced on December 9 a list of 63 countries allowed to bid on Iraq reconstruction contracts. A backlash is now in evidence: Germany, France and Russia will be excluded.

Pension Wealth And Household Saving: Evidence From Pension Reforms In The United Kingdom, Orazio Attanasio, Susann Rohwedder

Susann Rohwedder

Using three major U.K. pension reforms as natural experiments we investigate the relationship between pension saving and discretionary private savings. Unlike most differences-in-differences approaches which rely on average differences between control and treatment group, we use economic theory to model the response of each individual household. The empirical analysis, based on the Family Expenditure Survey, uses both time-series and cross sectional variation to identify the behavioral response. The earnings-related tier of the pension scheme is found to have a negative impact on private savings with relatively high substitution elasticities; the impact of the flat-rate tier is not significantly different from …

Consumer Willingness To Pay For Genetically Modified Food Labels In A Market With Diverse Information: Evidence From Experimental Auctions, W E. Huffman, J F. Shogren, M Rousu, A Tegene

Jason Shogren

With the continuing controversy over genetically modified (GM) foods, some groups advocate mandatory labeling of these products, while other groups oppose labeling. An important issue is how GM labels affect consumers' willingness to pay for these food products in the market. Using a statistically based economics experiment with adult consumers as subjects, we examine how willingness to pay changes for three food products-vegetable oil, tortilla chips, and potatoes-when GM labels are introduced. Participants in the experiments discounted GM-labeled foods by approximately 14% relative to their standard-labeled counterparts. The evidence also showed that sequencing of food labels affects willingness to pay, …

Scholarly Journal Articles About The Asian Tiger Economies: Authors, Journals And Research Fields, Jorge Gonzalez, Joe Davis

Jorge Gonzalez

No abstract provided.

The Demand Bargaining Set..., Massimo Morelli, Maria Pilar Montero

Massimo Morelli

No abstract provided.

Forecasting The Nursing Home Population, Darius Lakdawalla, Jay Bhattacharya, Dana Goldman, Michael Hurd, Geoffrey Joyce, Constantijn Panis

Darius N. Lakdawalla

Objective. To forecast growth in the US nursing home population, as a function of trends in disability and marriage.

Methods. Nursing home residence is modeled as a function of disability status, marital status, and other demographic covariates. Our predictions for nursing home residence are built upon joint forecasts of marriage and disability. We use data from the 1992 to 1996 Medicare Current Beneficiary Surveys, which are individual-level data sets designed to be representative of the US population older than the age of 65.

Results. Today's young cohorts will have higher rates and levels of institutionalization than their older counterparts. …

The Complexity Of Price Discovery In An Efficient Market: The Stock Market Reaction To The Challenger Crash, Michael Maloney, J Mulherin

Michael T. Maloney

We provide evidence on the speed and accuracy of price discovery by studying stock returns and trading volume surrounding the crash of the space shuttle Challenger. While the event was widely observed, it took several months for an esteemed panel to determine which of the mechanical components failed during the launch. By contrast, in the period immediately following the crash, securities trading in the four main shuttle contractors seemingly singled out the firm that manufactured the faulty component. We show that price discovery occurred without large trading profits and that much of the price discovery occurred during a trading halt …

Is Nursing Home Demand Affected By The Decline In Age Difference Between Spouses?, Darius Noshir Lakdawalla, Robert F. Schoeni

Darius N. Lakdawalla

No abstract provided.

Entry Point: Comment On W. Brown, Howard J. Sherman

HOWARD J SHERMAN

This article discusses where the researcher should begin an analysis of any political, social, or economic, problem in a given society.

Institutions And The Business Cycle, Howard J. Sherman

HOWARD J SHERMAN

Feudal European political-economic institutions included a self-sufficient manor with very little market exchange, barter rather than money, and production motivated only by the need of the manor rather than a profit. All of these institutions meant that a business cycle was impossible, though there were many other problems. Capitalist institutions include production only for market exchange, a monetary economy, and production motivated only by profit. All of these institutions make possible the business cycle--since a contraction may occur if there is insufficient monetary demand to buy the supply at a price including a profit.

The Latest Misfires In Support Of The ‘More Guns, Less Crime’ Hypothesis, John Donohue, Ian Ayres

Ian Ayres

No abstract provided.

Employment Structure In Rural Andhra Pradesh, A Amarender Reddy

A Amarender Reddy

The study examined occupational diversification among rural households in Andhra Pradesh. The specific objectives of the study are: (i) To examine the occupational structure of households in different regions of rural Andhra Pradesh (ii) To assess the level of unemployment, underemployment and poverty in different categories of households (iii) To find out various socio-economic factors affecting employment pattern in different regions and among households, and (iv) To suggest policy measures to reduce unemployment and underemployment. The study is based on National Sample Survey Organisation (NSSO) unit household data from its 50th and 55th rounds on employment and unemployment surveys for …

When Non-Transitive Relations Take Maxima And Competitive Equilibria Can't Be Beat, Ted Bergstrom

Ted C Bergstrom

The paper generalizes theorems of Ky Fan and Hugo Sonnenschein on the existence of maximal elements for non-transitive relations. I used these results to show that a binary relation could be constructed whose maximal element must be a competitive equilibrium. Thus proving the existence of competitive equilibrium under somewhat more general conditions than had been done previously. In 1975, I thought this was a useful extension of the Gale Mas Collel existence theorem. Journal referees then didn't agree with me, so I let it ripen in my desk for 15 years. I still think it is worth looking at if …

Net Impact And Benefit-Cost Estimates Of The Workforce Development System In Washington State, Kevin Hollenbeck, Wei-Jang Huang

Kevin Hollenbeck

No abstract provided.

Shock Effects On Stocks, Bonds, And Exchange Rates, Ray C. Fair

Ray C Fair

Tick data and newswire searches are used to find events that led to large and rapid changes in a stock future, a bond future, and three exchange rate futures. Knowledge of these events may be useful in future work. They have the advantages that they are truly surprises and that the sign of their effect on each financial market is known. The events are used in this study to analyze the effects of three types of events (monetary, price, and real) on the five variables.

Analysis Of Load Factors At Nuclear Power Plants, Michael T. Maloney

Michael T. Maloney

No abstract provided.

Whose Life Is Worth More? (And Why Is It Horrible To Ask?), Scott J. Wallsten

Scott J. Wallsten

No abstract provided.

The Future Of Electricity Deregulation: Lessons Learned From The California Crisis, Peter Navarro

PETER NAVARRO

No abstract provided.

The Real Effects Of Money Growth In Dynamic General Equilibrium, Liam Graham, Dennis Snower

Dennis Snower

Dynamic New Keynesian models generally ignore steady state money growth. Within a standard New Keynesian framework, we show that the interaction between staggered nominal contracts and money growth leads to a long-run trade-off between output and money growth that is significant, and remains so when the contract length is endogenised. We show that the existence of the tradeoff depends crucially on a phenomenon we call employment cycling: firms’ substitution among different labor types over the course of the contract period. We discuss the plausibility of this phenomenon and show that when it is absent, money becomes super-neutral.

Aftershocks And Essential Lessons - From The California Electricity Debacle, Peter Navarro

PETER NAVARRO

No abstract provided.

Anatomy Of Congress Defeat In Tripura, Vikas Kumar

Vikas Kumar

No abstract provided.

Drug Testing In The Trucking Industry: The Effect On Highway Safety, Mireille Jacobson

Mireille Jacobson

No abstract provided.

Optimal Fiscal Policy In The Uzawa-Lucas Model With Externalities, Manuel A. Gómez

Manuel A. Gómez

This paper devises a fiscal policy by means of which the first-best optimum equilibrium is attained as a market equilibrium in the Uzawa-Lucas model when average human capital has an external effect on productivity. The optimal policy requires the use of a subsidy to investment in human capital which can be financed by a tax on labor income. Lump-sum taxation is not required to balance the government budget either in the steady state or in the transitional phase. Physical capital income should not be taxed. Alternatively, the optimal growth path can be attained by means of a subsidy to human …

Training And Technology Transfer, Neil Campbell, Neil Vousden

Neil Campbell

This paper analyses technology transfer from a multinational corporation (MNC) to a developing economy via training of local workers by the MNC. The paper analyses the determinants of the level of training by the MNC assuming a local entrant can subsequently hire MNC–trained workers and compete with the MNC. It is shown that a small training subsidy paid by the host government may cause the MNC to switch from entry–deterring behaviour to entry–accommodating behaviour. Such a subsidy will cause an increase in the number of skilled workers but may increase or decrease the domestic welfare of the developing country.

© …

Regulating Illicit Trade In Natural Resources: The Role Of Regional Actors In West Africa, Emmanuel Aning

Emmanuel Kwesi Aning

This article explores the multiple efforts that have been initiated by regional actors in West Africa, mainly ECOWAS, to regulate the illicit trade in natural resources in the context of armed conflicts. It then examines the behaviour of 'spoilers' who are able to circumvent the sanctions regime and governments' domestic regulation. The paper argues that the characteristics and multiple dynamics of the armed conflicts in West Africa have created specific opportunities for economic activities in a thriving parallel economy through the 'illicit' trade in natural resources.

Russian Commercial Nuclear Initiatives And U.S. Nuclear Nonproliferation Interests, Michael T. Maloney, Oana Diaconu

Michael T. Maloney

Recent proposals put forward by the Russian Ministry of Atomic Energy (Minatom) aim to "privatize" Minatom's nondefense activities in hopes of making them commercially profitable. Through such reforms, Minatom is ostensibly seeking to generate funds that can be used to finance environmental remediation and nonproliferation activities, as well as support the vast social responsibilities (schools, hospitals, and the like) that it inherited from the Soviet era. Oana C. Diaconu and Michael T. Maloney, both of the Department of Economics at Clemson University, examine the obstacles Minatom faces as it attempts to commercialize its civilian activities. The authors argue that Minatom's …

The Assimilation Of Immigrants Who Arrived In The United States As Children, Michael C. Seeborg, Jeremy Sandford

Michael Seeborg

Although there has been much research on the effects of national origin, English speaking ability and educational attainment on the assimilation of immigrants, there has been little work on the effect of age of immigration on assimilation. This paper uses 1990 Census (IPUMS) data to assess the effects of age immigration on the relative earnings performance of 30-year-old immigrant men. Earnings regressions are run for three cohorts of immigrants defined by their age of arrival and a decomposition analysis is conducted to explain earnings gaps between each of the three immigrant cohorts and a sample of nonimmigrant men. We find …

Defesa Da Concorrência: Políticas E Perspectivas, Eloi Martins Senhoras

Elói Martins Senhoras

No abstract provided.

Truth-Bonding And Other Truth-Revealing Mechanisms For Courts, Robert D. Cooter, Winand Emons

Robert Cooter

Evolutionary Economics From A Radical Perspective, Howard J. Sherman

HOWARD J SHERMAN

This is a review article on David Hamilton, Evolutionary Economics: A Study of Change in Economic Thought. New Brncwick: Transaction Publishers, 1953, 1970, 1991, 1999.