Economics Commons^™

Time Series Modeling Of Nigeria External Reserves, Iheanyichukwu S. Iwueze, Eleazar C. Nwogu, Valentine U. Nlebedim

CBN Journal of Applied Statistics (JAS)

This paper discusses the levels and trend of external reserves in Nigeria. The relevance of this lies in the fact that it could help to monitor the reserves and throw early warning signal about any economic crisis. Monthly data on Nigeria external reserves for the period January 1999 to December, 2008 derived from the 2008 CBN Statistical Bulletin was analyzed using ARIMA model. Results of the analyses show that (i) the data requires logarithmic transformation to stabilize the variance and make the distribution normal (ii) the appropriate model that best describes the pattern in the transformed data is the Autoregressive- …

A Markov Decision Process Approach To Optimal Control Of A Multi-Level Hierarchical Manpower System, Akaninyene U. Udom

CBN Journal of Applied Statistics (JAS)

A recurrent problem in manpower control is how to attain the desired structural configuration in an optimal way, since it is possible to reach a desired structural configuration using different control inputs. The major aim of this paper is to develop a Markov Decision Process for optimal control of a Multi-level Hierarchical Manpower System (MHMS) by promotion and interdepartmental transfers. This is examined under control by intervention and contraction cost Markov Decision Process.

Agco Corporation Valuation, Sean Michael Miller

Undergraduate Honors Capstone Projects

This paper will discuss the excellent growth potential that AGCO Corporation faces and the reason that this company's stock is rated as a hold position. AGCO has seen tremendous progress and is in an industry that shows that a growing world population will continue to need food and more efficient ways to create food. However, based on sensitivities of assumptions in the models presented herein and on a current share price that is already close to my assumed fair value I do not issue a buy recommendation.

A Stochastic Walk Along Mexico's Mesoamerican Frontier, Gregory Brock, Constantin Ogloblin

Economics: Faculty Presentations (1988-2021)

No abstract provided.

The Impact Of Us Political Pressure On The Rmb Exchange Rate, Wenjie Zhang

LUX: A Journal of Transdisciplinary Writing and Research from Claremont Graduate University

The US-China game of Renminbi (RMB)/US Dollar exchange rate has aroused increasing attention recently. From the US perspective, appreciation of RMB exchange rate could reduce the US-China trade deficit, boost the US economy and thus lower the unemployment rate (Cheng and Zhang, 2012). Therefore it is crucial for the US government to figure out whether there is an influence from US political pressure on RMB flexibility and the most effective way to accelerate the appreciation of RMB exchange rate. Aminian et al (2008) believed that US political pressure may be one of the causes for the appreciation of RMB exchange …

How Foreign Firms Transformed Ireland’S Domestic Economy, Paul Donnelly

Articles

Today, Ireland is host to 1,033 multinational corporations. They directly employ 152,785 and account for 70 per cent or €122.5bn of exports. It’s a story that has its roots in the 1940s.

Curacao North Sea Jazz Festival: Through "The Looking Glass", Manuel A. Rivera, Robertico R. Croes

Dick Pope Sr. Institute Publications

The study was commissioned by Fundashon Bon Intenshon (FBI), through its sole Director and Founder, Mr. Gregory Elias, and was conducted through an intercept survey on site during the two major concerts on August 30 and 31, 2013. The study was carried out by the Dick Pope Sr. Institute for Tourism Studies (DPITS) of the Rosen College of Hospitality Management at the University of Central Florida. This is the fourth time in a row that the DPITS conducts the study on behalf of FBI. This report documents the economic contribution and the experience of the international visitors attending the Curacao …

The Economic Footprint Of The Rosen College Of Hospitality Management In The Metro Orlando Area, Robertico R. Croes, Tadayuki Hara

Dick Pope Sr. Institute Publications

The report documents the economic value of the Rosen College of Hospitality Management (RCHM) to the Metro Orlando area. The purpose of estimating the economic value of the program is to calculate the increased economic activities in the Metro Orlando area as generated by college degree attainment through the RCHM. The report is the result of an assignment commissioned by the Dean of the RCHM. The report assessed the economic impact of the alumni of the College during the period from 2000 to 2012. In that period, more than 5,000 students earned a degree either at the undergraduate or graduate …

Employee Choice Over Pay Mix, Kevin F. Hallock

Economics Faculty Publications

Suppose the company set the level of pay and then let employees choose the fractions they wanted as guaranteed salary, stock options and at-risk bonus. The fraction in at-risk bonus was capped at 20% of total pay and the payout was between 0 and 2.5 times the amount put at-risk and was a function of individual and group performance. This is not a theoretical example; it's real. And, it is interesting for a variety of reasons, including that it is so extreme and because the organization invited some researchers inside to study the fascinating choices made by employees. They were …

Health Promotions 2.0: The Future Of Wellness Programs In America, Rajiv Kumar

Center for Policy Research

In no small part because of technology, the way we live and work is being transformed. I believe that those of us who are interested in health policy can play an important role in guiding that transformation. I submit to you that unhealthy living is a social issue; that conditions such as obesity and diabetes are social diseases and that their prevalence is a social problem. If we have a social problem, then we need a social solution. I believe part of that solution can be found in the worksite health promotion and wellness programs that have taken root across …

The Beartooth Highway: 2012-2013 Economic Impacts, Use, And Destination Image, Jake Jorgenson, Norma P. Nickerson, Kara Grau

Institute for Tourism and Recreation Research Publications

The purpose of this study was to assess the economic impacts and visitor use of the Beartooth Highway. Data was collected from visitors during the 2012 summer and 2012-2013 winter seasons. In total, over 4,000 summer visitors and 1,600 winter visitors were intercepted during the study. This report is a compilation of three separate studies conducted along the Beartooth Highway with a summary and researcher observations in the introductory pages.

An Epidemiological Approach To Opinion And Price-Volume Dynamics, Dong Hong, Harrison G. Hong, Andrei Ungureanu

Research Collection Lee Kong Chian School Of Business

We develop a simple and tractable model of opinions and price-volume dynamics based on a word-of-mouth communication process widely used in epidemiology. Risk-averse investors have different opinions depending on whether they heard the news from a friend. Opinions initially diverge and then converge over time as news spreads, which leads to price adjustment and trading volume. News released to many leads to an expected difusion rate (the change in the fraction of investors with the news) that declines with time. But news initially released to few leads to an expected diffusion rate that initially increases in time and only then …

Singapore's Housing Policies: 1960-2013, Sock Yong Phang, Kyunghwan Kim

Research Collection School Of Economics

The focus of this case study is on the important role of real estate and housing policies in Singapore’s economic development. In the sphere of housing policy, Singapore is known for its high homeownership rates, the very significant role played by the government in housing supply and housing finance, and the wealth that has been created and distributed in the process.

How Do Firms Become Different? A Dynamic Model, Matthew Selove

Business Faculty Articles and Research

This paper presents a dynamic investment game in which firms that are initially identical develop assets that are specialized to different market segments. The model assumes that there are increasing returns to investment in a segment, for example, as a result of word-of-mouth or learning curve effects. I derive three key results: (1) Under certain conditions there is a unique equilibrium in which firms that are only slightly different focus all of their investment in different segments, causing small random differences to expand into large permanent differences. (2) If, on the other hand, sufficiently large random shocks are possible, firms …

Human Economic Choice As Costly Information Processing, John Dickhaut, Vernon L. Smith, Baohua Xin, Aldo Rustichini

Accounting Faculty Articles and Research

We develop and test a model that provides a unified account of the neural processes underlying behavior in a classical economic choice task. The model describes in a stylized way brain processes engaged in evaluating information provided by the experimental stimuli, and produces a consistent account of several important features of the decision process in different environments: e.g., when the probability is specified or not (ambiguous choices). These features include the choices made, the time to decide, the error rate in choice, and the patterns of neural activation. The model predicts that the further two stimuli are from each other …

Access To Capital In Dakar: An Analysis Of Microfinance, Michael Furlane

Independent Study Project (ISP) Collection

This study analyzes the effectiveness of micro credit in a developing African country by evaluating the history of microfinance and then focusing on access to credit in modern day Dakar, Senegal. Microfinance, or small capital loans to business startups in budding nations, has been used as a tool in developmental economics for a several decades. Ideally it is an elegant solution to a problem that permeates developing countries around the world: the lack of available credit. This lack of credit stifles economic growth in every sector of an emerging economy. As part of this study I interviewed both credit firms …

The "Play-Out" Effect And Preference Reversals: Evidence For Noisy Maximization, Joyce E. Berg, John Dickhaut, Thomas A. Rietz

Accounting Faculty Articles and Research

In this paper, we document a "play-out" effect in preference reversal experiments. We compare data where preferences are elicited using (1) purely hypothetical gambles, (2) played-out, but unpaid gambles and (3) played-out gambles with truth-revealing monetary payments. We ask whether a model of stable preferences with random errors (e.g., expected utility with errors) can explain the data. The model is strongly rejected in data collected using purely hypothetical gambles. However, simply playing-out the gambles, even in the absence of payments, shifts the data pattern so that noisy maximization is no longer rejected. Inducing risk preferences using a lottery procedure, using …

Evaluation Metric For Technical Assistance At A Community Development Financial Institution, Emma R. Miran

MPA Capstone Projects 2006 - 2015

The Mountain Association of Community Economic Development (MACED) serves a fifty-four county region in Central Appalachia and is legally registered as a Community Development Financial Institution (CDFI). MACED provides financial capital and technical assistance to small businesses and nonprofit organizations in order to generate new employment opportunities and develop a strong local economy and community in its service region. My study explored how MACED can improve its evaluation system for assessing clients' technical assistance needs and how it can better understand the impact of these services.

Acquário Ceará: The Future Of Tourism In Fortaleza, Elizabeth Duffield

Independent Study Project (ISP) Collection

In 2014, Fortaleza will put on display for the entire world to see as it is one of the Brazilian cities hosting the World Cup. In preparation for such a massive event and a staggering amount attention, the state of Ceará and the Secretary of Tourism embarked on a plan to develop tourism in Ceará and the capital city, Fortaleza, into a modern tourism destination. One project in progress, Acquário Ceará, will be largest aquarium in Latin America and the third largest aquarium in the world. Situated right on the coastline of Praia de Iracema in Fortaleza, the aquarium is …

El Papel De Ecoturismo En La Comunidad Nativa De Shintuya, Alto Madre De Dios, Peru: Las Percepciones De La Misma Comunidad, Dylan Barnes

Independent Study Project (ISP) Collection

Este informe examina el rol de ecoturismo en la comunidad nativa Shintuya, Madre de Dios, Perú. Para hacer eso, uso las percepciones de los mismos comuneros sobre el ecoturismo y el futuro de su comunidad. La comunidad y la región alrededor tiene muchas atracciones turísticas, y por eso hay un gran potencial de turismo para la comunidad. También hay una presencia de una empresa de petróleo, con que los comuneros están trabajando. En estas páginas siguientes, voy a argumentar que esta situación no es tan blanca y negra como parece. No hay un lado a favor y un lado en …

The Trajectory Of Warwick Junction As A Site Of Inclusivity In Post-Apartheid South Africa, Kara Van Schilfgaarde Van Schilfgaarde

Independent Study Project (ISP) Collection

Warwick Junction, a thriving trading hub in the inner city of Durban, has long been considered one of the best examples of collaborative urban management practices between the local government and informal traders. In a post-apartheid South Africa, there was a national desire to transform the old systems of governance, which in Warwick translated to city government institutions making an effort to include informal traders in the policymaking and management processes. This paper tracks the history of Warwick Junction, using its oppressive past to frame common perspectives of informal trade. It considers the legacy of the post-apartheid era South Africa, …

An Exploratory Study On The Adoption And Use Of Ict In Myanmar, Sim Kim Lau, Graham K. Winley, Sim Yee Lau, Kim Song Tan

Research Collection School Of Economics

This exploratory study investigates the adoption and use of information and communication technologies in Myanmar by examining the nature and structure of the information technology profession. The investigation is based on a theoretical framework consisting of three components: domains of information technology professional expertise; the scope of the information technology professional’s knowledge, skills and experience; and specific knowledge and skills associated with the domains of professional expertise. The findings show that specialist skills in systems development, database, network and communications are important. This paper also provides insights that are not found in current literature which investigates information technology skills in …

The Nexus Of Human Capital And Governance, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan’s popular economic discourse has been rightly focused on short-run problems. Will we be able to end load-shedding in the country? Will the IMF agreement cause more hardships than benefits to the people? Will the inflation rate begin to rise again? Will the rupee keep on tumbling? These are legitimate questions that need to be addressed. The government of the day also devotes its attention towards these problems as the test of their success lies in finding solution to these issues.

Neglected due to this pre-occupation with short-term problems are the issues that will impinge upon the future of this …

The Hidden Stem Economy: The Surprising Diversity Of Jobs Requiring Science, Technology, Engineering, And Math Knowledge, Jonathan Rothwell

Brookings Scholar Lecture Series

Policy and businesses leaders have argued that there is a shortage of highly educated workers in professional occupations related to science, technology, engineering, and math (STEM). Critics have countered that Ph.D scientists often face a difficult academic labor market and do not necessarily earn higher wages than other professionals. Yet, both sides of the STEM debate have been relying on an ill-defined definition of STEM work. Using a detailed survey of worker knowledge requirements, this research project redefines STEM jobs based on the level of knowledge required in STEM fields to perform occupations. The results uncover two facts previously unrecognized …

An Economist's View Of The Commerce Clause, John H. Beck

Economics Faculty Scholarship

In the course of this lecture, I will review how the courts have interpreted the commerce clause. I will also express an opinion – what might be called a “strict interpretation” – about how the commerce clause ought to be interpreted from a legal standpoint, although as an economist I have no professional expertise to do so. However, as an economist I do have expertise in analyzing what economists refer to as “market failures,” situations in which free markets may fail to achieve a theoretical ideal allocation of resources and government intervention may lead to a better outcome. Economists have …

Optimal Income Tax For China, Shuanglin Lin, Chengjian Li, Jinlu Li

Hong Kong Economic Association Biennial Workshop

No abstract provided.

Tax Reform And Democratic Reform In Hong Kong, Richard Simmons

Hong Kong Economic Association Biennial Workshop

No abstract provided.

Hong Kong Tax Regime: Where Do We Go From Here?, Yvonne Law

Hong Kong Economic Association Biennial Workshop

No abstract provided.

Tax Policy In Denmark (And Eu), Jens Holger Helbo Hansen

Hong Kong Economic Association Biennial Workshop

No abstract provided.

Tax On Capital Income, Yong Wang, Wai Hong Ho

Hong Kong Economic Association Biennial Workshop

No abstract provided.