Economics Commons^™

Repeated Games With Almost-Public Monitoring, George J. Mailath, Stephen Morris

Cowles Foundation Discussion Papers

In repeated games with imperfect public monitoring, players can use public signals to coordinate their behavior perfectly, and thus support cooperative outcomes with the threat of punishments. But with even a small amount of private monitoring, players’ private histories may lead them to have sufficiently different views of the world that such coordination on punishments is no longer possible (we describe a simple strategy profile that is a perfect public equilibrium of a repeated prisoner’s dilemma with imperfect public monitoring, and yet is not an equilibrium for arbitrarily close games with private monitoring). If a perfect public equilibrium has players’ …

Survey Of Multifractality In Finance, Benoit Mandelbrot

Cowles Foundation Discussion Papers

No abstract provided.

World Income Components: Measuring And Exploiting Risk-Sharing Opportunities, Stefano G. Athanasoulis, Robert J. Shiller

Cowles Foundation Discussion Papers

We provide a method for decomposing the variance of changes in incomes in the world into components, world income components (WICs), in such a way as to indicate the most important risk-sharing opportunities among people of the world. We develop a constant absolute risk premium model, an intertemporal general equilibrium model of the world that facilitates consideration of optimal contract design. We show that for a contract designer maximizing a social welfare function, the optimal risk-management contracts maximize the equilibrium world real interest rate. That is the contract designer achieves the risk-optimal interest rate. We show that these WIC securities …

Stationary Multi Choice Bandit Problems, Dirk Bergemann, Juuso Välimäki

Cowles Foundation Discussion Papers

This note shows that the optimal choice of k simultaneous experiments in a stationary multi-armed bandit problem can be characterized in terms of the Gittins index of each arm. The index characterization remains equally valid after the introduction of switching costs.

Econ 104 - Shaikh And Milberg, Anwar Shaikh Phd, William Milberg Phd

Archives of Anwar Shaikh

• Single folder includes course materials, lecture notes, press clippings, and related documents spanning 1982–2005

• Course materials:

  • Course outline for GE 104: Historical Foundations of Political Economy I, taught by Professors Shaikh and Milberg, Fall 1999, with "occasional lectures" by Robert Heilbroner

  • Second copy of GE 104 course introduction, including a list of suggested essay topics

  • Materials related to GECO II, Spring 2004

• Press clippings (photocopies of New York Times articles):

  • “Forced Labor Said to Bind 12.3 Million People Around the World” by Steven Greenhouse (5/12/2005)

  • “That Hissing Sound” by Paul Krugman (8/8/2005)

  • Article by Andrew Revkin on Bhutan’s …

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Economic Currents: The State Of The State Economy, Alan Clayton-Matthews

Public Policy and Public Affairs Faculty Publication Series

In the midst of continuing economic growth, we are seeing signs of a possible future slowdown in the Commonwealth’s economy. June’s Leading Economic Index for Massachusetts was down nearly a percentage point from its May level, and consumer confidence fell moderately in the same month. In the labor market, there is evidence that inflationary pressures may be building.

Interests, Institutions, And Ideology In Securing Policy Change: The Republican Conversion To Trade Liberalization After Smoot‐Hawley, Douglas A. Irwin, Randall S. Kroszner

Dartmouth Scholarship

This paper investigates how changes in both institutional incentives and economic interests are important for securing durable changes in economic policy. We study how bipartisan support developed to sustain the Reciprocal Trade Agreements Act (RTAA) of 1934, which fundamentally transformed U.S. trade policy. The durability of this change was achieved only when the Republicans, long‐time supporters of high tariffs who originally vowed to repeal the RTAA, began to support this Democratic initiative in the 1940s. We find little evidence of an ideological shift among Republicans, but rather an increased sensitivity to export interests for which the institutional structure of the …

Institute Research And Public Policy On Disability, H. Allan Hunt

Employment Research Newsletter

No abstract provided.

The Policy Implications Of Nonstandard Work Arrangements, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

Comparative Study Of Economic Adjustment And Housing Quality Of Migrants And Natives In The State Of Virginia, Bayram Unal

Sociology & Criminal Justice Theses & Dissertations

This research has directed attention towards comparing and understanding the characteristics of both native and migrant populations and both recent and long-term migrant populations in the state of Virginia. The research question is: how does migrant population differ from native population? And how do recent migrants differ from long-term migrants in terms of their employment status, occupation, income, home ownership, quality of housing and amount of rent. This study utilizes data from the 5 percent sample of the U.S. 1990 Census. Cross tabulation and analysis of variance are used to compare migrant with native population and recent migrants with long-term …

Foreign Policy And Language: United States Economic Sanctions Against North Korea, Ibpp Editor

International Bulletin of Political Psychology

This article analyzes two elements of language that frequent the discourse on United States foreign policy towards the Democratic People's Republic of Korea. The analysis bears on the consequences of language for policy.

Testimony Before The Working Group On The Benefit Implications Of The Growth In The Contingent Workforce: U.S. Department Of Labor, Susan N. Houseman

Testimonies

No abstract provided.

Technological Progress And Its Effects On The Interaction Between Money Supply And Demand: A Cointegration Approach, Patrick J. Holly Jr. '99

Honors Projects

The purpose of this paper is to analyze the significance of the effect current payment technologies ha e had on money supply and demand. Specific attention will be giv n to M1 and M2 stocks and velocities, th Fed Funds Rate and National Income, and how their interaction with each other has been affectrd by technology development. Using Electronic Fund Transfer and Automated Teller Machine introduction as a proxy or current technological development in a cointegration test model it is found that current payment technologies have had mixed effects on money supply and demand, and the interaction between their associated …

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Vol. 01 No. 1 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Measuring Transformation: Assessing And Improving The Impact Of Microcredit, Susy Cheston, Larry Reed

Journal of Microfinance / ESR Review

The question of impact assessment is one that continues to plague microcredit practitioners. Some contend that existing impact assessment studies are meaningless, while others maintain they are absolutely necessary. The authors of this paper advocate a renewed focus on the transformation of clients and their communities, as well as a new impact assessment model to support and document this focus. They outline the key principles for conducting impact audits that include measurement of transformation among clients. They also review a series of practitioner-oriented impact assessment tools and outline future challenges for practitioners, donors, and academics in improving performance through impact …

Microenterprise Development In The Heartland: Self-Employment As A Self-Sufficiency Strategy For Tanf Recipients In Iowa 1993-1998, Salome Raheim, Jason J. Friedman

Journal of Microfinance / ESR Review

There has been a significant interest in the microenterprise movement regarding its effectiveness as a welfare-to-work strategy. A decade's worth of program results, demonstration projects, and research strongly suggest that the benefits of microenterprise development for welfare recipients outweigh the costs and risks. The state of Iowa has been a leader in promoting microenterprise development as a welfare-to-work strategy. Iowa was the first state in the US to incorporate microenterprise-development training as an eligible activity in its welfare-reform program. Since 1993, the Iowa Department of Human Services (IDHS) has contracted with the Institute for Social and Economic Development (ISED), a …

Announcements, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Are Grameen Replications Sustainable, And Do They Reach The Poor?: The Case Of Card Rural Bank In The Philippines, Hans Dieter Seibel, Dolores Torres

Journal of Microfinance / ESR Review

The Grameen Bank in Bangladesh is known worldwide for its success in providing credit to the poor. However, subsequent replications of its methodology in other parts of the world have been less successful. Is there really an infallible solution that works everywhere, and is outreach to the poor compatible with sustainability? A Grameen replicator in the Philippines, the Center for Agriculture and Rural Development (CARD), has recently set itself firmly on the path to sustainability by becoming a formal sector, rural bank—the first credit NGO in the country to do so. During the period, from 1993 to June 1999, CARD's …

Village Banking Dynamics Study: Evidence From Seven Programs, Judith Painter, Barbara Mknelly

Journal of Microfinance / ESR Review

The primary question examined in this study is whether client loans grow or stagnate over time. Loan growth is important to financial sustainability and is also a proxy for positive impact. The relationship between loan growth and a variety of factors--program loan and savings policies, site selection, membership dynamics--are explored in the context of seven village bank programs. The study concludes that on average, loan size did not stagnant but increased steadily, although at a rate lower than the original village bank model projections. Only programs that allowed non-poverty level loans (loans above US$300) approached the original loan growth rate. …

The Impact Of Outcome-Based Assessment On Microenterprise Programs, Margaret A. Johnson, Umasundari Akella, Jule Lalande

Journal of Microfinance / ESR Review

The changing environment in the nonprofit sector has subjected microenterprise programs to a new paradigm that emphasizes rationality principles. These principles ask practitioners to increase their outcomes while minimizing costs and to demonstrate that they are doing so with outcome-assessment measurements. This paper presents a case study of what happened to 11 microenterprise programs that adopted outcome assessment. Factors affecting the adoption of outcome assessment were changing norms in the nonprofit sector, demands from state legislators for information on program outcomes, and mandates from funders. A funding formula was implemented; program responses included going along, adopting practices to fit the …

Health Transfers: An Application Of Health-Health Analysis To Assess Food Safety Regulations, Fred Kuchler, Jackqueline L. Teague, Richard A. Williams, Don W. Anderson

RISK: Health, Safety & Environment (1990-2002)

The authors apply a Health-Health Analysis to risks associated with harvesting Gulf oysters to evaluate that approach to managing health and safety risks.

Defying The Odds: Bunking For The Poor, By Eugene Versluysen, Eugene Versluysen

Journal of Microfinance / ESR Review

No abstract provided.

Bringing Development Back, Into Microfinance, Maria Otero

Journal of Microfinance / ESR Review

No abstract provided.

The Microcredit Summit's Challenge: Working Toward Institutional Financial Self-Sufficiency While Maintaining A Commitment To Serving The Poorest Families, David S. Gibbons, Jennifer W. Meehan

Journal of Microfinance / ESR Review

Institutional financial self-sufficiency (IFS) is necessary for a microfinance institution (MFI) to obtain the large amount of funds required to reach and benefit truly large numbers of the poor and poorest households. There is no necessary trade-off between serving large numbers of the poorest households and the attainment of IFS by an MFI, as proven by the case studies in this paper. Cost-effective identification of the poor and the poorest women is essential to maximizing the effectiveness and efficiency of providing microfinance services to them. If the service is not exclusively for the poor and the poorest, it should be …

Capitalism And Human Rights, Rhoda E. Howard-Hassmann

Political Science Faculty Publications

Books Discussed in this Article:

Amnesty Intemational (Dutch Section) and Pax Christi International, Multinational Enterprises and Human Rights: a Report. Utrecht, November 1998.

G.B. Madison, The Political Economy of Civil Society and Human Rights. New York: Routledge, 1998.

William H. Meyer, Human Rights and International Political Economy in Third World Nations. Westport, Conn: Praeger, 1998.

Industrial Resources: Oldham County, Kentucky Library Research Collections

Oldham County

"Resources for Economic Development: Oldham County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Oldham County Office of Economic Development, LaGrange, Kentucky, September 1999. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Whitley County - Williamsburg, Kentucky Library Research Collections

Whitley County

"Resources for Economic Development: Williamsburg, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the Williamsburg Economic Development Office, Williamsburg, Kentucky, September 1999. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Lee County - Beattyville, Kentucky Library Research Collections

Lee County

"Resources for Economic Development: Beattyville-Lee County, [Kentucky]" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with Beattyville-Lee County Chamber of Commerce, Beattyville, Kentucky, September 1999. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.

Industrial Resources: Menifee County - Frenchburg, Kentucky Library Research Collections

Menifee County

"Resources for Economic Development: Frenchburg, [Kentucky]}" prepared by the Kentucky Cabinet for Economic Development, Division of Research in cooperation with the City of Frenchburg, Frenchburg, Kentucky, September 1999. The report includes, but is not limited to, information about: population, labor market, local manufacturing, transportation, utilities, fuel, water, sewage, industrial sites, local government and services, taxes, educational and health facilities, housing, communication, recreation, natural resources, markets, and climate.