Economics Commons^™

Alternative Forms Of The Score Test For Heterogeneity In A Censored Exponential Model, Sanjiv Jaggia

Economics

Different versions of the score test for neglected heterogeneity for a right censored exponential model are analyzed. These tests depend on how the information matrix is estimated. A test based on the theoretical information matrix is derived that is shown to outperform all the other tests. Further, the noncentrality parameter of the test is examined to show how the power of the test is reduced when data are censored.

Public Education Supply And Student Performance, Michael L. Marlow

Economics

This paper develops a model of public exchange whereby voters and education policy makers exchange with one another within school districts. Because school district consolidation lowers alternatives to voters-parents, consolidation is hypothesized to raise public education spending because weakened intergovernmental competition allows policy makers to promote their own utility, rather than that of constituents. Models of public education spending and academic performance are estimated over 1988-1990. While evidence indicates little support for the traditional treatment of the Leviathan hypothesis that greater competition lowers public spending, this paper argues that education spending by itself does not fully provide a valid test …

Kate Crehan & Kamala Visweswaran, Anwar Shaikh

Archives of Anwar Shaikh

• Memo from Dan McIntyre to the tenure committee regarding a draft report on Kate Crehan’s tenure review (5/12/97)

• Summary from the Kate Crehan Tenure Committee discussion (5/5/97)

• Meeting notes regarding Kate Crehan

• Letter from William Roseberry requesting evaluations of Crehan’s work (10/4/93)

• Letter from Michael Watts recommending Crehan

• Letter from William Roseberry to Friedlander regarding Kate Crehan’s reappointment review (11/8/93)

• Letter from Joan Vincent to Roseberry recommending Crehan (11/1/93)

• Letter from H. L. Moore recommending Crehan (10/28/93)

• Letter from John Comaroff recommending Crehan (10/25/93)

• Letter from Colin Bundy to Rayna Rapp recommending Crehan (3/9/90)

• Third-year review statement by Kate Crehan …

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Beyond The Cpi: An Augmented Cost Of Living Index (Acoli), William D. Nordhaus

Cowles Foundation Discussion Papers

This note examines the question of calculating an augmented cost of living index (ACOLI). The ACOLI is the appropriate deflator to apply to pretax market incomes when calculating economic well-being. Well-being includes, not only conventional consumer purchases, but also goods and services provided by employers, by mandated social regulations, and by tax-financed public goods. Because such augmented consumption is often provided in ways that raise prices but not market incomes, deflating with conventional price indexes may understate real income growth. An application of the ACOLI approach to the United States during the 1960-1994 period indicates that the conventional consumer price …

The Effect Of Farm Supply Shifts On Concentration And Market Power In The Food Processing Sector, Stephen F. Hamilton, David L. Sunding

Economics

In this paper we examine the marginal impact of changing farm supply on the market structure of the downstream food processing sector. We develop a theoretical model that allows for cost differences among processors and endogenizes downstream entry and exit. Comparative statics results are consistent with several well-established trends in the food processing sector. In particular, the analysis demonstrates that increasing concentration in the food processing sector is consistent with decreasing market power. Indeed, we find that when the farm supply curve shifts outward, an increase in concentration can only occur when there is a decrease in market power.

Second Order Approximation In A Linear Regression With Heteroskedasticity For Unknown Form, Oliver B. Linton

Cowles Foundation Discussion Papers

We develop stochastic expansions with remainder o P ( n –2µ ), where 0 < µ < 1/2, for a standardised semiparametric GLS estimator, a standard error, and a studentized statistic, in the linear regression model with heteroskedasticity of unknown form. We calculate the second moments of the truncated expansion, and use these approximations to compare two competing estimators and to define a method of bandwidth choice.

Downtown Cleveland's Economic Base, 1989-1996, Ziona Austrian, Jocelyn Fagan

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

State And Industrial Capitalists In Egypt, SāMir SulaymāN

Archived Theses and Dissertations

No abstract provided.

Economic Impact Of Convention And Meetings To Montana: Methodological Attempts, Rita J. Black, Paul L. Grant

Institute for Tourism and Recreation Research Publications

Outlines the attempt to replicate a study in Montana orginally conducted nationally. The study was not completed because of an inability to obtain cooperation from the conference associations and hotel properties. This report explains the methodology and the difficulties encountered during the study attempt.

An Empirical Study Of The Real Exchange Rate Misalignment And Its Effects On The Macro-Economic Performance Of Bangladesh, Md. Shahnawaz Karim

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This paper provides empirical study of whether there was a misalignment of the real exchange rate (RER) in the Bangladesh economy during 1976-1991. The time series of multilateral and bilateral RER indexes were computed for the period 1976-1991. The computed series of RER were indexed to a base year of when the RER attained its highest level and thereby appeared to be closer to the actual long-run equilibrium RER.

In the empirical part of this thesis, five different RER indexes were computed: multilateral real exchange rate index 1 (MRER1), multilateral real exchange rate index 2 (MRER2), bilateral real exchange index …

Price And Trade Relations And Market Integration In Pacific Pork Markets, Jau-Rong Li

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

Market integration testing is important to agricultural marketing, industrial organization, international trade, and international model design. With reliable market integration information, decision makers can undertake appropriate actions to maximize profits, welfare, or both. Level I market analysis, which uses price data solely, has proved unreliable especially in the presence of discontinuous or bidirectional trade, or significant or nonstationary transaction costs.

Level II market analysis methods, which incorporate both transactions costs and prices, permit spatial markets to be integrated in some periods and segmented in others, thereby obviating many level I method problems. However, level II methods still fail to distinguish …

Is Money Growth Still A Useful Indicator Of Inflation?, Levent Camlibel

Economics Theses & Dissertations

This thesis examines the linkages among the monetary aggregates, inflation, and the economy through vector auto regression techniques. Multivariate Granger causality tests, variance decompositions and impulse response functions are utilized to examine causal relationships among key economic variables. In 1987, the Federal open Market Committee (FOMC) decided not to establish a specific target range for M1 growth . Since then, the broader M2 measure of money has been the preeminent variable used in implementing monetary policy; however, the results indicate that M1 can be used in predicting inflation and M2 can be used in predicting real GDP. This suggests that …

Summary Findings Of A Report On Temporary, Part-Time, And Contract Employment In The United States, George A. Erickcek, Susan N. Houseman

Reports

No abstract provided.

Evaluating Modernization And Dependency Explanations Of The Unequal Distribution Of Income In Developing Countries, Paul Timothy Shattuck

Dissertations and Theses

This paper tests two different theoretical explanations of the causes of the unequal distribution of income in less developed countries using data from circa 1990. There are several reasons for examining this much-studied topic. First, as described in the previous research findings chapter below, there is no consensus in the literature regarding the relative effects of modernization and dependency variables on income inequality. Determining the independent effects of the two models is still an open ended question. Second, the availability of more recent data provides us with an opportunity to check the possibility that previous findings were partly due to …

Japanese U.S. Auto Transplant Production: An Analysis Of The Roles Of Vers And The Exchange Rate, Michael R. Cornstubble '97

Honors Projects

Since their introduction in 1982, Japanese auto transplants in the U.S. have skyrocketed in production, now producing many more cars than are imported. This study incorporates new refinements and revisions to attempt to identify the main factors that are responsiblefor the introduction of Japanese auto transplants and their massive growth in production over the last 14 years. The author develops two hypotheses from theoretical analysis ofthe factors contributing to production decisions. The first is that the voluntary export restraints (VERs) imposed on the Japanese from 1981-1985 are responsible for bringing the transplants to the U.S. andfor creating major growth in …

Price Comparisons For Organic Crop Products, Thomas L. Dobbs, Lisa Carr

Economics Commentator (1972- 2016)

No abstract provided.

The Economic Rationale Of A Multi-State Lotto, Brett Roush '97

Honors Projects

First, lotteries offer an opportunity to study how consumers react to straightforward risky situations. Other forms of risk-taking--investing in the stock market, for example--or even many forms of gambling--handicapping horses, for example--do not offer the simplistic situation posed by lotteries. These instruments involve nothing more than a small payment followed by a purely random determination of winner and losers. The potential winnings, moreover, can range from the nugatory (a free ticket) to the awe-inspiring (in July of 1993 the Powerball jackpot reached $110 million). Besides gaining insights into consumer behavior in risky situations, lottery research is important for public policy …

Michigan State Government Employment Sector: Are We In Line With The National Trends?, Thomas Walter Cronkright Ii

Honors Theses

Examines the national trends of employment to make a comparison for Michigan State government employment. Results show that Michigan's public employment trends do not follow national employment trends in a comparable way. Michigan is distinct from the nation for several reasons: a hiring freeze placed on Michigan State Departments, higher levels of union participation and employee pay, and benefits packages that cost more than the Executive Branch of the U.S. government. Thus, either Michigan provides superior benefits or it pays a premium for those benefits. Suggests further research is needed.

Wealth Through Christ?, Matthew P. Mikulcik

Honors Projects

As a Christian, should a belief in God have an impact on economic well-being? Does it? One could argue that Christians have certain values and beliefs that might have a significant impact on economic well-being. One could also argue that other non-Christian people possess similar values and beliefs that have nothing to do with a belief in the Christian God, but that might also have a significant impact on well-being. One could argue that the values and beliefs associated with being Christian should have a positive effect on well-being; however, one could also argue that the values and beliefs should …

The Incremental Information Content Of The Cash And Cash Equivalents Definition Of Funds, Hugh Samuel Riner Jr.

Doctoral Dissertations

The purpose of this study was to attempt to determine the incremental information content of the cash and cash equivalents definition of funds. The cash and cash equivalents definition of funds is the mandated definition of funds for use in the preparation of a statement of cash flows. Prior to 1988, firms were able to use alternative definitions of funds; working capital was the most widely-used alternative definition.

In order to determine whether the cash and cash equivalents definition of funds has incremental information content, event analysis methodology was utilized to compare the market reaction to the release of financial …

Anti-Dumping & Countervailing Measures: The Complete Reference: By R.K. Gupta, New Delhi: Response Books,1996., Rupa Chanda

IIMB Management Review

No abstract provided.

Asia’S Emerging Equity Markets: Diversification Vs Return Enhancement, Julian E Gaspar

IIMB Management Review

What accounts for the relative attractiveness of Asia's emerging equity markets to an American Fund Manager? Following a brief overview of portfolio flows to developing countries, an empirical analysis of Asia's emerging equity markets is conducted to rank them on the basis of risk diversification using correlation analysis. This is followed by an analysis and ranking of Asia's emerging equity markets in terms of total returns with a summary of the major findings in terms of risk diversification and return enhancement. In addition, India's equity market is given a closer look to determine key macro economic and institutional issues that …

Public Sector Management And Change Psus: Are We Ready To Change?, Abhoy K Ojha

IIMB Management Review

Public sector companies have played a major role in the Indian economy. With 45% of all investment in India accounted for by PSUs and with the liberalisation of the Indian economy it is imperative that they become more productive and accountable. Are we ready to change and manage change? The objective response is that PSUs will not only have to change but change fast. The real challenge is in gearing up for change.

Diversity Mobilization, Anwar Shaikh Phd

Archives of Anwar Shaikh

• Collection includes a document titled To the Mobilization for Real Diversity, Democracy, and Economic Justice (April 21, 1997).

• Document titled The New School for Social Research Mobilization for Real Diversity, Democracy, and Economic Justice 1996/1997 Demands.

• Letter to the president from the Hunger Strike Support Team titled The Strike Must End (April 21, 1997).

• Document titled Why A Hunger Strike?

• Letter of solidarity for the strike from M. Jacqui Alexander (April 14, 1997).

• Document titled State of Emergency: The NSSR in Crisis Management Mode.

• Document titled What Are END’s Tactics?

• Letter of solidarity titled Love and Solidarity from Chandra Talpade …

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Economic Restructuring, Technology Transfer And Human Resource Development: By B R Virmani And Kala Rao, New Delhi: Sage Publications,1996., Subhashish Gupta

IIMB Management Review

No abstract provided.

The U.S. Defense Industry After The Cold War, Murray L. Weidenbaum

Murray Weidenbaum Publications

The U.S. defense industry is adjusting to the end of the Cold War far more rapidly and effectively than was generally expected. Current security decision-makers can count on the presence of a strong defense industrial base. But that situation cannot be taken for granted in the years ahead and judging the industrial base capacity is challenging. It requires us to deal with international issues during a time of domestic concern, to consider military outlays in a period of budgetary austerity, and to worry about the competition for the production of weapons systems when the economy is undergoing a wave of …

Can We Grow Faster?, James Tobin

Cowles Foundation Discussion Papers

It is essential to distinguish between limits on national output and limits on its rate of growth. In the short run if output is below potential, demand stimulus can temporarily increase output and employment, with growth rates that cannot be sustained once the economy reaches full employment, potential output. This barrier is commonly called the NAIRU. The paper discusses the possibility that the economy can reach lower unemployment rates than previously thought, without increasing inflation. As to raising the sustainable rate of growth of potential output, the paper discusses skeptically various proposals: fiscal austerity, tax cuts, downsizing government. Many proposals …

Supply Constraints On Employment And Output: Nairu Versus Natural Rate, James Tobin

Cowles Foundation Discussion Papers

NAIRU and NATURAL RATE are not synonymous. NAIRU is a macro outcome of an economy with many labor markets in diverse states of excess demand and excess supply. NAIRU represents an overall balance between the inflation-increasing pressures from excess-demand markets and the inflation-decreasing pressures from excess-supply markets. The natural rate, as described by Friedman, is a feature of walrasian market-clearing general equilibrium. While the NAIRU fits into a Keynesian model, the natural rate is an aspect of a New Classical model. The determinants of the two are theoretically different, and so are their implications for policy. The NAIRU varies from …

New Institute Survey On Flexible Staffing Arrangements, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

Unemployment Insurance Policy In New England: Background And Issues, Robert Tannenwald, Christopher J. O'Leary

Upjohn Institute Working Papers

Most states have exhausted their unemployment insurance (UI) trust fund and borrowed from the federal government at least once during the past 35 years. Under such circumstances, states are required by law to raise UI taxes to replenish their trust funds and to pay off their debts to the federal government. Since higher UI taxes increase employer costs, replenishment forces states into a trade-off between economic competitiveness and trust fund adequacy. Competitive pressures have raised questions about prevailing standards of adequacy and the speed at which they should be attained. Consequently, several states are contemplating tax reductions despite low reserves. …