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2001

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Articles 241 - 270 of 611

Full-Text Articles in Economics

Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones Jul 2001

Time-Shifted Rationality And The Law Of Law's Leverage: Behavioral Economics Meets Behavioral Biology, Owen D. Jones

Vanderbilt Law School Faculty Publications

A flood of recent scholarship explores legal implications of seemingly irrational behaviors by invoking cognitive psychology and notions of bounded rationality. In this article, I argue that advances in behavioral biology have largely overtaken existing notions of bounded rationality, revealing them to be misleadingly imprecise - and rooted in outdated assumptions that are not only demonstrably wrong, but also wrong in ways that have material implications for subsequent legal conclusions. This can be remedied. Specifically, I argue that behavioral biology offers three things of immediate use. First, behavioral biology can lay a foundation for both revising bounded rationality and fashioning …

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Fiscal Decentralization: Its Impact On Cities Growth, Raksaka Mahi Jul 2001

Fiscal Decentralization: Its Impact On Cities Growth, Raksaka Mahi

Jurnal Ekonomi dan Pembangunan Indonesia

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Agregat Moneter Sebagai Sasaran Antara Kebijakan Moneter Di Indonesia, Telisa Aulia F. Jul 2001

Agregat Moneter Sebagai Sasaran Antara Kebijakan Moneter Di Indonesia, Telisa Aulia F.

Jurnal Ekonomi dan Pembangunan Indonesia

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Reflections On Market Reform In Post-War, Post-Embargo Vietnam, Lan Cao Jul 2001

Reflections On Market Reform In Post-War, Post-Embargo Vietnam, Lan Cao

Faculty Publications

No abstract provided.

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Fighting Poverty With Labor Demand Policies, Timothy J. Bartik Jul 2001

Fighting Poverty With Labor Demand Policies, Timothy J. Bartik

Employment Research Newsletter

No abstract provided.

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Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang Jul 2001

Housing Policy, Wealth Formation And The Singapore Economy, Sock-Yong Phang

Research Collection School Of Economics

This paper evaluates the contribution of housing policy in Singapore to financial sector development, housing wealth formation and macro-economic performance, both retrospectively and prospectively. It provides an overview of past housing policies and traces the linkages to the financial sector. Housing policy as effected through the Housing and Development Board and the Central Provident Fund (CPF) hampered the development of the commercial housing loans sector and domestic financial markets, but contributed to the overall growth and stability of the housing loans market and associated financial institutions. Housing policy and the trend of housing asset inflation contributed significantly to the formation …

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Gaussian Estimation Of Continuous Time Models Of The Short Term Interest Rate, Jun Yu, Peter C. B. Phillips Jul 2001

Gaussian Estimation Of Continuous Time Models Of The Short Term Interest Rate, Jun Yu, Peter C. B. Phillips

Research Collection School Of Economics

This paper proposes a Gaussian estimator for nonlinear continuous time models of the short term interest rate. The approach is based on a stopping time argument that produces a normalizing transformation facilitating the use of a Gaussian likelihood. A Monte Carlo study shows that the finite sample performance of the proposed procedure offers an improvement over the discrete approximation method proposed by Nowman (1997). An empirical application to U.S. and British interest rates is given.

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Economy And 'New Economy' In The United States And Germany, Phillip J. Bryson Jul 2001

Economy And 'New Economy' In The United States And Germany, Phillip J. Bryson

Faculty Publications

The expression "New Economy" is used inconsistently. This Article review the driving forces of the US boom of the 1990s, examining the changes introduced in the period and before, focusing on the IT sector and new technologies. The "New Economy" is not just the new sectors, but changes in the overall economy emanating from them. These changes will not evaporate in an economic slowdown. Comparisons of the USA with Germany and Europe illustrate that the "New Economy" will also continue to develop there on the foundations already laid.

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The Role Of Modarabas In Pakistan’S Financial Sector, Ishrat Husain Dr. Jun 2001

The Role Of Modarabas In Pakistan’S Financial Sector, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I am extremely pleased to be present here this afternoon to share my thoughts on the role of Modarabas in the financial system of Pakistan. As your association is in the process of soul searching let me add a few words of mine to this dialogue. I hope you will take my advice in good stride as constructive suggestions to strengthen and improve your sector. Modaraba has established itself as a well understood Shariah compliant instrument of financing in Pakistan. It has been practised for the last 20 years and we have gained a lot of experience in its operations …

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Unemployment Compensation And Older Workers, Christopher J. O'Leary, Stephen A. Wandner Jun 2001

Unemployment Compensation And Older Workers, Christopher J. O'Leary, Stephen A. Wandner

Conference Papers

No abstract provided.

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Macropicture Of The Budget 2000-01, Ishrat Husain Dr. Jun 2001

Macropicture Of The Budget 2000-01, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

The previous speakers have done an excellent job in reviewing the key features of the budgetary proposals from micro perspective. I would therefore like to shift the focus to the strategic and macro picture. Every budget has to be viewed in a certain strategic context. This second budget of the present government forms part of a medium term program of economic revival whose ultimate objective is to reduce the debt burden, get out of dependence on the International Monetary Fund and set the course of the economy on a path of self reliance. This is the first budget after a …

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South Dakota Agriculutral Land Values And Rental Practices: 2001, Burton Pflueger, Larry Janssen Jun 2001

South Dakota Agriculutral Land Values And Rental Practices: 2001, Burton Pflueger, Larry Janssen

Economics Commentator (1972- 2016)

No abstract provided.

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South Dakota Agriculutral Land Values And Rental Practices: 2001, Burton Pflueger, Larry Janssen Jun 2001

South Dakota Agriculutral Land Values And Rental Practices: 2001, Burton Pflueger, Larry Janssen

Economics Commentator (1972- 2016)

No abstract provided.

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Self-Injurious Behavior As A Window To The Soul: Support For A Will To Power?, Ibpp Editor Jun 2001

Self-Injurious Behavior As A Window To The Soul: Support For A Will To Power?, Ibpp Editor

International Bulletin of Political Psychology

This article describes a rationale for self-injurious behavior in the political world

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Social Interaction And Stock Market Participation, Jeffrey D. Kubik, Harrison Hong, Jeremy C. Stein Jun 2001

Social Interaction And Stock Market Participation, Jeffrey D. Kubik, Harrison Hong, Jeremy C. Stein

Economics - All Scholarship

We investigate the idea that stock-market participation is influenced by social interaction. We build a simple model in which any given "social" investor finds it more attractive to invest in the market when the participation rate among his peers is higher. The model predicts higher participation rates among social investors than among "non-socials". It also admits the possibility of multiple social equilibria. We then test the theory using data from the Health and Retirement Study. Social households-defined as those who interact with their neighbors, or who attend church-are indeed substantially more likely to invest in the stock market than non-social …

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Fuzzy Areas And Firm Boundaries, Pradeep Banerjee Jun 2001

Fuzzy Areas And Firm Boundaries, Pradeep Banerjee

IIMB Management Review

The manner in which firms function has been studied by academic economists for some time now. Adam Smith, the doyen of economists, incorporated his evaluation of producing units in his Inquiry into the Nature and Causes of Wealth of Nations (1776). The other famous economist, Alfred Marshal also studied the operation of the market and firms that functioned in it. Marshal is credited with having laid down an important part of the methodology of microeconomics, a branch of economics that takes up the study of firms as part of its routine.

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Competition In Indian Industries : A Strategic Perspectiveedited By N. Ravichandran, New Delhi: Vikas Publications,1999., Smriti Johri, Sanjyot Pethe Jun 2001

Competition In Indian Industries : A Strategic Perspectiveedited By N. Ravichandran, New Delhi: Vikas Publications,1999., Smriti Johri, Sanjyot Pethe

IIMB Management Review

No abstract provided.

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Private Sector Banks : Shaping Up, Amol Maheshwari, Shweta Jhajharia Jun 2001

Private Sector Banks : Shaping Up, Amol Maheshwari, Shweta Jhajharia

IIMB Management Review

An important factor influencing the development of private banks was the presence in the early 90s of bothpublic sector banks (PSBs) andforeign banks, with their specificdisadvantages. While thePSBs were often wanting in their quality of service, the activities of foreign banks were (and still are) restricted by the government. Private banks thus cornered the niche where the service-demanding consumer was willing to pay a higher price. By developing a retail focus, they also ensured that their deposit base was firmly established and diversified enough, before they moved on to larger businesses.

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Industry And Corporate Competitiveness : The Auto Parts Industry In China, Taiwan, South Korea, And India By L. Sridharan, New Delhi: Wheeler Publishing, 1999., L S Murty Jun 2001

Industry And Corporate Competitiveness : The Auto Parts Industry In China, Taiwan, South Korea, And India By L. Sridharan, New Delhi: Wheeler Publishing, 1999., L S Murty

IIMB Management Review

No abstract provided.

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M V Subbiah : Return To Roots, J Ramachandran Jun 2001

M V Subbiah : Return To Roots, J Ramachandran

IIMB Management Review

No abstract provided.

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Indian Manufacturing – Where Are We Heading?, Janat Shah, D Krishna Sundar Jun 2001

Indian Manufacturing – Where Are We Heading?, Janat Shah, D Krishna Sundar

IIMB Management Review

No abstract provided.

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Rousing Our Hanuman, N Vittal Jun 2001

Rousing Our Hanuman, N Vittal

IIMB Management Review

No abstract provided.

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Foreign Trade : Theory And Practice By T. K. Velayudham, New Delhi: Wheeler Publishing, 2000., Badar Alam Iqbal Jun 2001

Foreign Trade : Theory And Practice By T. K. Velayudham, New Delhi: Wheeler Publishing, 2000., Badar Alam Iqbal

IIMB Management Review

No abstract provided.

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Emerging Manufacturing Industry : A Financial Perspective, M S Narasimhan, L S Murty Jun 2001

Emerging Manufacturing Industry : A Financial Perspective, M S Narasimhan, L S Murty

IIMB Management Review

No abstract provided.

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Indian Manufacturing : An Overview, C P Vivek Jun 2001

Indian Manufacturing : An Overview, C P Vivek

IIMB Management Review

No abstract provided.

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Egypt's External Debt: An Attempt To Apply Sargent-Wallace Model To Egypt, Ashraf Mahmoud Abdel Moneim Jun 2001

Egypt's External Debt: An Attempt To Apply Sargent-Wallace Model To Egypt, Ashraf Mahmoud Abdel Moneim

Archived Theses and Dissertations

This research will analyze the Egyptian external debt, and its effect on the budget deficit and how the external debt could be rolled. We will see the government's policies, and how it affected the economy. The Gulf War had its effect in rescheduling and canceling some debt. Alternatives of deficit financing to prevent borrowing will be discussed. Thomas Sargent and Neil Wallace have introduced a model by which the government can meet its debt problem. Sargent and Wallace gave a solution to the problem of debt financing by printing money. This method is called "money financing." We will apply this …

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An Economic Approach To The Psychology Of Change: Amnesia, Inertia, And Impulsiveness, David Hirshleifer, Ivo Welch Jun 2001

An Economic Approach To The Psychology Of Change: Amnesia, Inertia, And Impulsiveness, David Hirshleifer, Ivo Welch

Cowles Foundation Discussion Papers

This paper models how imperfect memory affects the optimal continuity of policies. We examine the choices of a player (individual or firm) who observes previous actions but cannot remember the rationale for these actions. In a stable environment, the player optimally responds to memory loss with excess inertia, defined as a higher probability of following old policies than would occur under full recall. In a volatile environment, the player can exhibit excess impulsiveness (i.e., be more prone to follow new information signals). The model provides a memory-loss explanation for some documented psychological biases, implies that inertia and organizational routines should …

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On The Evolution Of Overconfidence And Entrepreneurs, Antonio E. Bernardo, Ivo Welch Jun 2001

On The Evolution Of Overconfidence And Entrepreneurs, Antonio E. Bernardo, Ivo Welch

Cowles Foundation Discussion Papers

This paper explains why seemingly irrational overconfident behavior can persist. Information aggregation is poor in groups in which most individuals herd. By ignoring the herd, the actions of overconfident individuals (“entrepreneurs”) convey their private information. However, entrepreneurs make mistakes and thus die more frequently. The socially optimal proportion of entrepreneurs trades off the positive information externality against high attrition rates of entrepreneurs, and depends on the size of the group, on the degree of overconfidence, and on the accuracy of individuals’ private information. The stationary distribution trades off the fitness of the group against the fitness of overconfident individuals.

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Have 401(K)S Raised Household Savings? Evidence From The Health And Retirement Study, Gary V. Engelhart Jun 2001

Have 401(K)S Raised Household Savings? Evidence From The Health And Retirement Study, Gary V. Engelhart

Center for Policy Research

The most popular tax subsidy to household saving in the United States is the 401(k)-type pension arrangement, which subsidizes saving through income-tax deferral on wages and salary dedicated to retirement saving and through investment accrual at the pre-tax interest rate. Although enabled by legislation in 1978, 401(k) plans effectively were not adopted until the Internal Revenue Service issued clarifying rules in 1981. Since then, they have grown remarkably and become the primary vehicle for retirement saving. In 1996, 33 percent of all private pension assets, 33 percent of all pension plans, and 45 percent of all active pension participants were …

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Pre-Retirement Lump-Sum Pension Distributions And Retirement Income Security: Evidence From The Health And Retirement Study, Gary V. Engelhart Jun 2001

Pre-Retirement Lump-Sum Pension Distributions And Retirement Income Security: Evidence From The Health And Retirement Study, Gary V. Engelhart

Center for Policy Research

This paper uses data from the 1992 and 1998 Waves of the Health and Retirement Study (HRS) to examine the extent of retirement wealth erosion from pre-retirement lump-sum distributions. There is little evidence that spent distributions have resulted in significant pension leakage. If spent distributions had been rolled over into a tax-qualified plan instead, they would have represented in present value between 5 and 11 percent of pension and Social Security wealth for the median household that spent a distribution. However, one-quarter of the households that spent distributions—which is 2.25 percent of all households age 51 to 61—could have increased …

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