Economics Commons^™

Random Walks, Lemmings, And Behaviorism: Looking For A Market Lodestar, John Sondey

Economics Commentator (1972- 2016)

No abstract provided.

Random Walks, Lemmings, And Behaviorism: Looking For A Market Lodestar, John Sondey

Economics Commentator (1972- 2016)

No abstract provided.

A Cost-Benefit Analysis Of High Capacity Chip Mills In The Southeastern United States, Blair Hutchins

Honors Theses

This study on the costs and benefits of high capacity chip mills located in the southeastern United States stems from a personal interest gained in the subject through my Environmental Science minor. During my courses of study, factors such as philosophy and ecology were brought into discussions both for and against these chip mills. However, there was no economic data presented from either side. This caused me to wonder whether chip mills were, from an economic perspective, a positive or negative industry for this region. The present study will present a compilation of facts and data on the economic analysis …

Random Walks, Lemmings, And Behaviorism; The Search For A Market Lodestar, John Sondey

Economics Staff Paper Series (1969 - 2017)

Random Walk: Burton Malkiel defines a random walk as "one in which future steps or directions cannot be predicted on the basis of past actions." Within the context of the stock market, a random walk for a stock's price means that it is as likely to fall as to rise, regardless of previous price performance (Malkiel, 1996). To hold the random walk hypothesis as truth is to foresake all punditry regarding fundamental and technical analysis and to abandon long-standing shibboleths such as evolving industries and sectoral rotation. Essentially, random walk implied that "winners" could not consistently be picked. The Wall …

Capitalism And The Value Of Life: Foot-And-Mouth And The Culling Of Herds, Ibpp Editor

International Bulletin of Political Psychology

This article describes some psychological implications of culling as an intervention to help combat the spread of foot-and-mouth disease.

Challenge Of Development, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten notes titled RXR Theory (Cambridge) (1998-11-17)

• Handwritten notes titled Exchange rate theory and policy: CEPA (1996-10-12)

Trends. Cognitive Dissonance And Conflation Of Patriotism And Political Advocacy: On The Secrecy Of The Intelligence Budget, Ibpp Editor

International Bulletin of Political Psychology

This article discusses the views of the Federation of American Scientists (FAS) regarding the budgeting practices of the U.S. Central Intelligence Agency (CIA).

Developing Better Economic Information About Coastal Resources As A Tool For Integrated Coastal Management, Judith T. Kildow Dr, Brian Baird, Charles S. Colgan, Hauke Kite-Powell, Rodney Weiher

Publications

Measuring economic activity associated with the ocean through examination of the goods and services produced by specified industries and in coastal locations will provide answers to many of the most commonly asked questions about the ocean economy. But even this data will still be incomplete. Beyond are a variety of "non-market" values, which are needed to complete the picture. When someone goes to the beach in Florida or boats on Chesapeake Bay, there may be little that is directly purchased on that day. But the popularity of such activities is testament to their underlying value. Economists have developed a variety …

April 2001, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Rural Economic Development: A Stewardship Model For Organizing Worker Cooperatives Part Two, Charles Sperry, Joyce Brusin, Tom Seekins Ph.D., University Of Montana Rural Institute

Employment

Worker cooperative corporations are a particular way of organizing business and employment opportunities. They usually involve a for-profit business that is owned by the worker-members who are employed there. A worker cooperative must perform the same major functions as any other organized business. It must obtain sufficient financing, manage its personnel, and produce and market its product or service. Its staff engage in the same management activities as any other business: planning, staffing, controlling, organizing, and leading.

How To Reduce Arrears In Microfinance Institutions, Norell, Dan Norell

Journal of Microfinance / ESR Review

Reducing arrears is crucial if MFIs are to achieve selfsufficiency. MFI staff must understand the causes of arrears--whether from clients' testing the MFI's determination to collect, crises in clients' lives, loans that are too large, or loans given on the basis of favoritism. Analytical tools for assessing and preventing arrears include key measures for analyzing arrears (e.g., portfolio quality ratios and performance ratios by credit officer) and financial ratio tests for determining appropriate loan size. The key to reducing arrears is to follow up late loans quickly, form strong solidarity groups, update and enforce credit policies, focus credit officers' services …

Self-Interest, Love, And Economic Justice: A Dialogue Between Classical Economic Liberalism And Catholic Social Teaching, Lawrence R. Cima, Thomas L. Schubeck S.J.

Economics & Finance

This essay seeks to start a dialogue between two traditions that historically have interpreted the economy in opposing ways: the individualism of classic economic liberalism (CEL), represented by Adam Smith and Milton Friedman, and the communitarianism of Catholic social teaching (CST), interpreted primarily through the teachings of popes and secondarily the U.S. Catholic bishops. The present authors, an economist and a moral theologian who identify with one or the other of the two traditions, strive to clarify objectively their similarities and differences with the opposing perspective. Section one focuses on each position's perspective of love of self and love of …

Vol. 03 No. 1 Journal Of Microfinance, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Coordination Failure In The Rural Credit Markets, Mishra, Atul Mishra

Journal of Microfinance / ESR Review

This paper tries to explain the curious fact that while at the national level the rural sector saves more than what it invests in itself in India, at the micro level, credit constraint is reported to be the main binding constraint on the activities in the rural economy. The explanation lies in the phenomenon of coordination failure. The public sector rural banks mobilize huge amounts of savings, but because of low rates of interest and high default rates, they do not lend in equal measure. Indeed, in India the public sector rural banks mobilize as savings three times the amount …

India's Regional Rural Banks: The Institutional Dimension Of Reforms, Nitin Bhatt, Y. S. P. Thorat

Journal of Microfinance / ESR Review

Efforts to reform India's failing Regional Rural Banks (RRBs) have had limited impact, because reformers have paid little attention to the institutional dimensions of the problems facing the banks. Few efforts were made to redesign the perverse institutional arrangements that gave rise to incompatible incentive structures for key stakeholders, such as political leaders, policy makers, stockholders, bank staff, and clients. We recommend that the next leg of reforms focus on aligning the incentives of these stakeholders by giving greater importance to the RRBs' internal organizational contexts and larger policy environments.

Assessing The Need For Microenterprises In Mexico To Borrow Start-Up Capital, Heikki Heino, Jose A. Pagan

Journal of Microfinance / ESR Review

Mexico's microenterprises employ about 20 percent of the working age population in the country, and the number of microenterprises has increased substantially over the last decade. Given the role these small business units play in employment and wealth creation, it is important to understand the profile of firms that resort to outside start-up capital to finance their operations. Using microdata from Mexico's National Survey of Microenterprises (Encuesta Nacional de Micronegocios, ENAMIN), we analyze the socioeconomic factors related to the need for outside start-up capital. The findings show that a relatively small number of socioeconomic factors such as the background of …

Front Matter, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Performance Measures For Microenterprise In The United States, Karen Doyle, Jerry Black

Journal of Microfinance / ESR Review

Microenterprise, while currently serving a small number of America's poor, is often the only option--other than receiving welfare--for a variety of individuals to improve their standard of living or quality of life. MicroTest, a project of the Aspen Institute, was created to improve the value of microenterprise services and the stability of microenterprise organizations over time by perfecting and promoting the use of measures to regularly assess performance. This article proposes a performance measurement framework for U.S. microenterprise development programs. The following key categories of outputs and outcomes can be used to assess the performance of microenterprise development providers: Reaching …

Book Review- Microfinance: Conversations With The Experts Edited By Charles Oberdorf, Matthew Wood

Journal of Microfinance / ESR Review

No abstract provided.

From The Editor, Journal Of Microfinance

Journal of Microfinance / ESR Review

No abstract provided.

Microfinance Myopia: Lessons From The Mainstream, Kim Wilson

Journal of Microfinance / ESR Review

This essay attempts to remove the shades that blind the microfinance sector to the value of its customers and what its customers truly value. It proposes that the social agenda and financial health of microfinance institutions would be far more sound if we understood who our customers are, why they leave, what they really want, and the real business we are all in.

Client Information Sharing In Bolivia, Campion, Anita Campion

Journal of Microfinance / ESR Review

As the microfinance industry becomes more competitive, microfinance institutions (MFIs) increasingly seek access to credit bureaus and credit information agencies. The growing number of microfinance providers in the market results in borrowers having more access to loans, which can lead to client overindebtedness and default. By sharing client information with each other and by using credit bureau information on client history and indebtedness, MFIs facing competition can reduce their credit risk and avoid unnecessary losses. While the growing interest in credit bureaus for microfinance is global, to date, few countries have credit unions and even fewer include microfinance clients in …

Introduction, Ken Mccormick

Major Themes in Economics

No abstract provided.

Cover - Table Of Contents

Major Themes in Economics

No abstract provided.

An Investigation Of The Association Between Auditor Switching And Negative Information, Michael Morris Grayson

Doctoral Dissertations

This study investigates the premise that certain types of negative information are associated with auditor switches. A data set of 305 auditor switches from 1976 to 1994, extracted from the Compustat data base (limited subscription), was analyzed using tests of proportions and nonparametric sign tests. The data set consists of negative information extracted from the switching companies' income statements (i.e., net losses or extraordinary items) or calculated from the items extracted (i.e., net income adjusted to reverse the effect of extraordinary items).

The initial results, based on tests which assumed random movement of net income, did not support the notion …

Two Essays On Exchange -Traded Funds, Natalya Vladimir Delcoure

Doctoral Dissertations

The purpose of this study is twofold. The first objective is to conduct an empirical inquiry into the diversification benefits of exchange-traded funds. The second objective is to examine whether exchange-traded funds exhibit superior performance compared to their rival closed-end country fund and traditional index mutual fund. I document that American investors manifest their preference for WEBS as a substitute for closed-end country funds. While I find that WEBS satisfy their objective of following their home indexes better than their rival closed-end country fund, the two-factor model I employ indicates that, despite some diversification benefits, WEBS also maintain certain risk …

The Economic Agenda Of Catholic Social Teaching: The Framework For A Normative Social Theory, Michael D. Russell

Major Themes in Economics

The Catholic Church has developed a position on socio-economic issues during the past one hundred years as detailed in economically-minded papal encyclicals and related church documents. Included are several criteria that provide a framework for evaluating areas of economic policy. The Church’s mission has been to develop a normative social theory capable of integrating both theology and economic theory. The body of literature addressing the Church’s approach to socio-economic issues is known as Catholic Social Teaching, or CST. I will use CST to describe the Catholic platform of normative economic justice, its justification of social theory, and the potential economic …

Money Versus Morality: The Failure Of The Joint Boycott Council And The Anti-Nazi Boycott Movement In The United States, Michelle D. Ward

History Theses & Dissertations

The Nazis' wise to power elicited responses from a multitude of Jewish and non- Jewish organizations around the world. Like their respective counterparts, American Jewry adopted a variety of strategies both in the United States and abroad to combat Nazism. The purpose of this study is to examine the boycott movement instituted by the Joint Boycott Council. Although the boycott had a limited short-term effect on the German economy, it failed in its overall goals. It never contributed to an economic collapse in Germany or forced the Nazis to turn away from discriminatory practices and decrees targeting Jews and other …

Estimates Of The Effectiveness Of Monetary Policy, Ray C. Fair

Cowles Foundation Discussion Papers

This paper examines various interest rate rules, as well as policies derived by solving optimal control problems, for their ability to dampen economic fluctuations caused by random shocks. A tax rate rule is also considered. A multicountry econometric model is used for the experiments. The results differ sharply from those obtained using recent models in which the coefficient on inflation in the nominal interest rate rule must be greater than one in order for the economy to be stable.

On Modeling The Effects Of Inflation Shocks, Ray C. Fair

Cowles Foundation Discussion Papers

A popular model in the literature postulates an interest rate rule, a NAIRU price equation, and an aggregate demand equation in which aggregate demand depends on the real interest rate. In this model a positive inflation shock with the nominal interest rate held constant is explosive because it increases aggregate demand (because the real interest rate is lower), which increases inflation through the price equation, which further increases aggregate demand, and so on. In order for the model to be stable, the nominal interest rate must rise more than inflation, which means that the coefficient on inflation in the interest …