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2002

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Articles 151 - 180 of 595

Full-Text Articles in Economics

The Impact Of Housing Prices On Aggregate Consumption: Evidence From An East Asian City-State, Sock-Yong Phang Jul 2002

The Impact Of Housing Prices On Aggregate Consumption: Evidence From An East Asian City-State, Sock-Yong Phang

Research Collection School Of Economics

Using aggregate consumption data for Singapore, this paper rejects the life-cycle/permanent income and myopia hypotheses as explanations for aggregate consumption behavior. We confirm the presence of liquidity constraints from the asymmetric reaction of consumption to income increases vis-a-vis income declines. When we allow for asymmetric response, anticipated house price increases appear to have a dampening effect on aggregate consumption while declines in expected house price growth also had a negative effect on consumption, although the results are statistically insignificant. There is no evidence that the housing price increases have produced either wealth or collateral enhancement effects on consumption.

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New Mexico Labor Market Review 06-30-2002, New Mexico Department Of Labor Jun 2002

New Mexico Labor Market Review 06-30-2002, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers May 2002.

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Agricultural Sector Development: Problems And Issues, Ishrat Husain Dr. Jun 2002

Agricultural Sector Development: Problems And Issues, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Agriculture is by far the most important sector for Pakistan’s economy. The forward and backward linkages to the rest of the domestic economy, to the international trade and with poverty alleviation are very strong. A bad year for agriculture due to drought or other natural calamities has extremely adverse effect on GDP growth, living standards of the population, price level, exportable surplus and balance of payments. Thus the dichotomy of agriculture vs. industry or services sectors is totally false as agriculture forms the backbone of the whole economy.

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Confidence Statements For Efficiency Estimates From Stochastic Frontier Models, William C. Horrace, Peter Schmidt Jun 2002

Confidence Statements For Efficiency Estimates From Stochastic Frontier Models, William C. Horrace, Peter Schmidt

Economics - All Scholarship

This paper is an empirical study of the uncertainty associated with technical efficiency estimates from stochastic frontier models. We show how to construct confidence intervals for estimates of technical efficiency levels under different sets of assumptions ranging from the very strong to the relatively weak. We demonstrate empirically how the degree of uncertainty associated with these estimates relates to the strength of the assumptions made and to various features of the data.

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Unemployment Insurance Overpayments And Underpayments, Stephen A. Woodbury Jun 2002

Unemployment Insurance Overpayments And Underpayments, Stephen A. Woodbury

Testimonies

No abstract provided.

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Is State Bank Of Pakistan Doing Its Job?, Ishrat Husain Dr. Jun 2002

Is State Bank Of Pakistan Doing Its Job?, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

To address the above question we have to begin by spelling out the mandate of the State Bank Pakistan. Like all other central banks the SBP is charged with ensuring financial stability, monetary stability, external sector stability and payments and settlement system of the country. The SBP was granted legal autonomy in 1997 and is supervised by a Board of Directors. Currently, the Board consists of seven individuals from the private sector drawn from academia, agriculture, small and medium business, large industrial groups, one retired civil servant and a representative of the Ministry of Finance. While legal autonomy is necessary …

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South Dakota Agricultural Land Values And Rental Practices: 2002, Burton Pflueger, Larry Janssen Jun 2002

South Dakota Agricultural Land Values And Rental Practices: 2002, Burton Pflueger, Larry Janssen

Economics Commentator (1972- 2016)

No abstract provided.

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Structural Change And Lead-Lag Relationship Between The Nikkei Spot Index And Futures Price: A Genetic Programming Approach, Donald Lien, Yiu Kuen Tse, X. B. Chang Jun 2002

Structural Change And Lead-Lag Relationship Between The Nikkei Spot Index And Futures Price: A Genetic Programming Approach, Donald Lien, Yiu Kuen Tse, X. B. Chang

Research Collection School of Economics

In this paper we adopt a nonparametric genetic programming approach to identify the structural changes in the Nikkei spot index and futures price. Due to the dominance of the “normal” period in sample size, the lead-lag relationship identified in the spot-futures system based on conventional methods such as test for Granger causality pertains to the normal period and may not be applicable in the “extreme” period. Using genetic programming we identify the lead-lag relationship based on the chronological ordering of the structural changes in the spot and futures markets. Our results show that in recent periods, major market changes originated …

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Economic Geography, Trade, And War, David H. Bearce, Eric O'N. Fisher Jun 2002

Economic Geography, Trade, And War, David H. Bearce, Eric O'N. Fisher

Economics

An agent-based model in which economic exchange and military conflict are emergent processes is used to explore the relationship between trade and war. The model of exchange is an applied analysis of the economics of trading networks. The model of conflict treats war as a breakdown in interstate bargaining due to incomplete information. The simulations explore how initial economic geography, state revisionism, defensive advantage, and technological advancement akin to globalization affect both trade and war. The results show that the relationship between trade and war depends on third factors, and an inverse relationship between trade and war emerges from compact …

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Developing Collaborative Relationships To Enhance Self-Employment Services For People With Disabilities, Nancy Arnold Ph.D., Catherine Ipsen M.A., University Of Montana Rural Institute Jun 2002

Developing Collaborative Relationships To Enhance Self-Employment Services For People With Disabilities, Nancy Arnold Ph.D., Catherine Ipsen M.A., University Of Montana Rural Institute

Employment

RTC: Rural researchers surveyed 571 U.S. Small Business Development Centers (SBDCs) to learn about linkages between Vocational Rehabilitation (VR) and SBDCs that could enhance self-employment outcomes for people with disabilities. 346 of 527 deliverable surveys were returned for a 64% response rate. The resulting data show a positive relationship between the presence of informal and/or formal agreements and SBDCs’ experience providing self-employment services for people with disabilities. VR-SBDC coordination could expand the outcomes of both agencies, reduce fragmentation between agencies, and capitalize on the strengths of each program.

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Quality Of Life In El Paso: Citizen's Perceptions -- 2002, Dennis L. Soden, Tina J. Manco Jun 2002

Quality Of Life In El Paso: Citizen's Perceptions -- 2002, Dennis L. Soden, Tina J. Manco

IPED Technical Reports

No abstract provided.

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Why Are Chinese Products Cheaper?, P R Karthik, Muthulingam Suresh Jun 2002

Why Are Chinese Products Cheaper?, P R Karthik, Muthulingam Suresh

IIMB Management Review

Chinese products of comparable quality, novel conception and low prices have been flooding the Indian market. The differential in price ranges from 20% to as high as 50%. ‘Dumping!’ has been the outcry by our businessmen, nurtured over five decades by the license raj, and many industry circles have been clamouring for protectionism. Conversely, companies are sourcing products for the Indian market from China and some like the Patel Group are proposing to shift their entire operations to China. One of the mainstays of the Chinese strategy of following a mass-production and mass-consumption formula, is to keep the profit margins …

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Coping With Liberalisation : The Industry’S Response To New Competition By P S Palande, Response Books, New Delhi, 2000., Pradeep Banerjee Jun 2002

Coping With Liberalisation : The Industry’S Response To New Competition By P S Palande, Response Books, New Delhi, 2000., Pradeep Banerjee

IIMB Management Review

No abstract provided.

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Banking On Sbi : Interview With Dipankar Basu, Ashok Thampy, Vivek Moorthy Jun 2002

Banking On Sbi : Interview With Dipankar Basu, Ashok Thampy, Vivek Moorthy

IIMB Management Review

No abstract provided.

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Financial Markets : Institutions And Regulations, R Vaidyanathan Jun 2002

Financial Markets : Institutions And Regulations, R Vaidyanathan

IIMB Management Review

No abstract provided.

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Error Bounds And Asymptotic Expansions For Toeplitz Product Functionals Of Unbounded Spectra, Offer Lieberman, Peter C.B. Phillips Jun 2002

Error Bounds And Asymptotic Expansions For Toeplitz Product Functionals Of Unbounded Spectra, Offer Lieberman, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper establishes error orders for integral limit approximations to traces of powers to the p th order) of products of Toeplitz matrices. Such products arise frequently in the analysis of stationary time series and in the development of asymptotic expansions. The elements of the matrices are Fourier transforms of functions which we allow to be bounded, unbounded, or even to vanish on [- π,π ], thereby including important cases such as the spectral functions of fractional processes. Error rates are also given in the case in which the matrix product involves inverse matrices. The rates are sharp up to …

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More Efficient Kernel Estimation In Nonparametric Regression With Autocorrelated Errors, Zhijie Xiao, Oliver B. Linton, Raymond J. Carroll, E. Mammen Jun 2002

More Efficient Kernel Estimation In Nonparametric Regression With Autocorrelated Errors, Zhijie Xiao, Oliver B. Linton, Raymond J. Carroll, E. Mammen

Cowles Foundation Discussion Papers

We propose a modification of kernel time series regression estimators that improves efficiency when the innovation process is autocorrelated. The procedure is based on a pre-whitening transformation of the dependent variable that has to be estimated from the data. We establish the asymptotic distribution of our estimator under weak dependence conditions. It is shown that the proposed estimation procedure is more efficient than the conventional kernel method. We also provide simulation evidence to suggest that gains can be achieved in moderate sized samples.

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Financial Markets : The Way Ahead Interview With Naina Lal Kidwai, P G Apte Jun 2002

Financial Markets : The Way Ahead Interview With Naina Lal Kidwai, P G Apte

IIMB Management Review

No abstract provided.

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The Emperor's Clothes, John B. Davis Jun 2002

The Emperor's Clothes, John B. Davis

Economics Faculty Research and Publications

Argues that neoclassical economics is primarily a theory of the human individual in economic life but contemporary mainstream economics does not posses a theory of the human individual. Definition of mainstream economics; Origin of the Enlightenment theory of the individual that came to underlie neoclassical economics at the end of the nineteenth century; Problems in neoclassical economics' treatment of individuals.

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Growth And Volatility, Hing-Man Leung Jun 2002

Growth And Volatility, Hing-Man Leung

Research Collection School Of Economics

This paper has two objectives. First, to establish empirically a U-shaped relation between GDP growth rate and income volatility. The backward as well as the fast-growing countries have had extensive volatility; but developed nations by contrast have enjoyed much more stable income. Second, to present a macroeconomic model to study how growth and volatility evolve together. The twin endogenous variables are financial liberalization interacting with liquidity constraints. Opening LDC financial markets could raise or lower their long-term income and growth rates, depending on the severity of existing liquidity constraints. Financial liberalization and removing financial market imperfections unambiguously worsen income volatility.

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Strategic Development Of Airport And Rail Infrastructure: The Case Of Singapore, Sock-Yong Phang Jun 2002

Strategic Development Of Airport And Rail Infrastructure: The Case Of Singapore, Sock-Yong Phang

Research Collection School Of Economics

This article recounts how a number of strategic infrastructure investment decisions in airport and rail development taken by the Singapore government were at variance with recommendations emerging from Cost-Benefit Analysis, but were considered necessary to support external competitiveness. This link between infrastructure provision and economic development may require decision makers to assess the trade-off between prudent macro-economic planning and efficient micro-economic management for major projects. In the case of airport hubs, the most difficult assessment might be the game consideration of how much, and how far ahead, excess capacity is needed to ensure the dominance of the hub.

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How Should We Interpret Evidence Of Time Varying Conditional Skewness?, Gamini Premaratne, Anthony S. Tay Jun 2002

How Should We Interpret Evidence Of Time Varying Conditional Skewness?, Gamini Premaratne, Anthony S. Tay

Research Collection School Of Economics

Several recent articles report evidence of predictability in the skewness of equity returns, raising hopes that predictability in third moments will be useful for forecasting the probability of tail events. The evidence is unfortunately difficult to interpret, partly because they were obtained mainly from parametric models of time-varying conditional skewness, and because little is known about the behavior of such models, for instance, when there are outliers. We investigate a non-parametric approach to testing for predictability in skewness. Specifically, we explore the size and power of a Runs tests, and compare this approach with other tests. A re-examination of daily …

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New Mexico Labor Market Review 05-31-2002, New Mexico Department Of Labor May 2002

New Mexico Labor Market Review 05-31-2002, New Mexico Department Of Labor

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers April 2002.

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Does International Trade Hold Profit Potential For The U.S. Dairy Industry?, Donald L. Peterson May 2002

Does International Trade Hold Profit Potential For The U.S. Dairy Industry?, Donald L. Peterson

Economics Commentator (1972- 2016)

No abstract provided.

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Wage Growth Differentials Between White And Non-White Males By Industry, Stephen Ransom Barnes May 2002

Wage Growth Differentials Between White And Non-White Males By Industry, Stephen Ransom Barnes

Honors Capstones

No abstract provided.

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Role Of Venture Capital Financing In Inflating The Technology Stock Market Bubble, Jessica Rosenbloom May 2002

Role Of Venture Capital Financing In Inflating The Technology Stock Market Bubble, Jessica Rosenbloom

Honors Theses

Comprising nearly one-third of the nation's gross domestic product from 1995 to 1999, the growth of the Information Technology industry took a backseat to dot.com mania. Its companies, however, were just as influential in creating the stock market bubble. Characterized by high technology, high research and development, high profits, and high risk, the Information Technology industry had always been attractive to venture capital investors. This study will find that a Telecommunications Deregulation Act passed in 1996, in conjunction with an eight percent capital gains tax cut in 1997, flooded venture capitalists with business plans pertaining to the Information Technology industry. …

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Effects Of U.S. Interest Rates On The Real Exchange Rate In Mexico, Andre V. Mollick May 2002

Effects Of U.S. Interest Rates On The Real Exchange Rate In Mexico, Andre V. Mollick

School of Economics and Finance Faculty Publications

Using monthly data to bond and equity markets in Mexico from U.S. investors, we search for responses in the vector autoregressions (VARs) - on the real exchange rate and reserves in Mexico - to shocks in U.S. interest rates and to the Mexican M2/Reserves ratio over the years 1988-2001. The ratio M2/Reserves measures the degree of financial vulnerability and brings this literature closer to theoretical constructions. Shocks to U.S. interest rates explain not more than 7.4% of the variance of international reserves and only 5.5% of real exchange rate changes under conventional specifications. Blending M2/Reserves with real exchange rates at …

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Asymmetric Wealth Effect : American Consumption And The Stock Market, Jonathan Greene May 2002

Asymmetric Wealth Effect : American Consumption And The Stock Market, Jonathan Greene

Honors Theses

Conventional estimates of the marginal propensity to consume (MPC) out of changes in net worth average about 4 cents on the dollar. If this is true, the $14 trillion rise in household net worth between 1995 and 2000 created an additional $567 billion in household consumption. This increase in net worth was driven almost entirely by the rising values of security prices in the contemporary bull market. This study presents evidence that this "wealth effect" is in fact asymmetrical and that this asymmetry reversed some time during the 1970's or 1980's. Prior to this reversal point positive changes in slock …

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Integrated Test For Exploitation And Discrimination In The National Basketball Association, Kathleen Carney May 2002

Integrated Test For Exploitation And Discrimination In The National Basketball Association, Kathleen Carney

Honors Theses

Over the past thirty years, economists have become increasingly interested in the labor market for professional sports. These studies have focused primarily on exploitation, the difference between marginal revenue product and salary, or discrimination, salary differentials based on race, or ethnic background. This paper attempts to combine both areas of research, that is, to explain the systematic deviation of marginal revenue product from salary as a function of race, or ethnic background. Using NBA data collected over three seasons 1995-98, we specify a three-equation model, an enhancement of the Scully two-step method presented in 1976. We then ask if players …

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Analysis Of The Colby Quarterly Econometric Model Of The U.S. Economy Using The Economic Effects Of September 11th, Alison Culpen May 2002

Analysis Of The Colby Quarterly Econometric Model Of The U.S. Economy Using The Economic Effects Of September 11th, Alison Culpen

Honors Theses

The economic repercussions of September 11th are unique in that never before have economists needed to forecast and examine the impact of an event of such magnitude. This paper explains many of the economic effects of September l Ith, from the initial aftermath to recent developments. These effects are used to analyze the Colby Quarterly Econometric Model of the U.S. economy by simulating the model with actions taken by the government, such as an increase in spending, as well as other economic consequences resulting from September 11th. These simulations are then examined in more detail through multipliers that ultimately reveal …

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