Economics Commons^™

Kentucky Labor Supply And Demand Surveys, Mark C. Berger, Paul A. Coomes, Christopher Bollinger, Bruce Gale, Ronald E. Langley, Barry Kornstein, Jonathan M. Roenker, John Perry, Roy Sigafus, Eric C. Thompson

CBER Research Report

Excerpt from the executive summary:

The Center for Business and Economic Research at the University of Kentucky (CBER), along with its partners, the Survey Research Center at the University of Kentucky (UK-SRC), the Survey Research Center in the Urban Studies Institute at the University of Louisville (UL-SRC), and the Department of Economics at the University of Louisville, is pleased to present this final report on the findings of the Kentucky labor supply and demand surveys sponsored by the Kentucky Cabinet for Workforce Development. The two universities have put together a consortium including some of the best scholars in the region …

The Recovery Of The Aviation Industry: The Aviation Security Challenge, Ibpp Editor

International Bulletin of Political Psychology

This article is based on a presentation made to the SAE 2002 World Aviation Congress on November 6, 2002 by the IBPP Editor. The article’s focus is on how representatives of the aviation industry need to think about aviation security to facilitate the industry’s economic recovery.

Why Should We Avoid Populist Economic Policies?, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

As the leader of an opposition party, President-elect Lula of Brazil was consistent in his attack on President Cardoso’s efforts at fiscal reforms, demanding more spending regardless of affordability. Now when he has been elected by a vast majority of the population he has struck a note of economic realism. He has warned that ‘there is no miraculous solution for such a huge social debt’ and Brazil’s dire straits demand ‘austerity in the use of public money’.

November 2002, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

The Lingnan Commentary - November 2002 (No. 6), Hong Kong Institute Of Business Studies, Lingnan University

The Lingnan Commentary 嶺南評論 : A Quarterly Review of Economic, Business and Social Issues by Lingnan University

No abstract provided.

Us And European Trends And Policies Regarding Organic Agriculture, Thomas L. Dobbs

Economics Commentator (1972- 2016)

No abstract provided.

University-Industry Relationships: Framing The Issues For Academic Research In Agricultural Biotechnology, David E. Ervin, Terri Lomax, Steven T. Buccola, Kristen Kim, Elizabeth Minor, Hui Yang, Leland L. Glenna, Elizabeth Jaeger, Dina Biscotti, Walter J. Armbruster, Kate Clancy, William B. Lacy, Rick Welsh, Yin Xia

Economics Faculty Publications and Presentations

More must be done to understand how academic researchers involved in agricultural biotechnology are impacted by a growing number of relationships with industry partners, concluded a new report released today by the Pew Initiative on Food and Biotechnology (the Pew Initiative) and Portland State University. The report, University-Industry Relationships: Framing the Issues for Academic Research in Agricultural Biotechnology looks at the advantages and disadvantages to universities and academic scientists who engage in relationships with industry. It specifically outlines the need for information regarding influences on academic scientists' research agendas, the intellectual property rights and technology innovations involved in the relationships, …

Evaluating The Impacts Of Local Economic Development Policies On Local Economic Outcomes: What Has Been Done And What Is Doable?, Timothy J. Bartik

Upjohn Institute Working Papers

This paper argues that more rigorous evaluations of local economic development policies are feasible. Programs that aid selected small firms can be rigorously evaluated using an experimental approach, without excluding firms from assistance, by randomly assigning some firms to receive more intense marketing efforts by the program. Programs that aid distressed local areas can be rigorously evaluated by random assignment of the program among eligible distressed areas. If an experiment cannot be done, a variety of statistical approaches can be used to compare firms or areas that use the program with comparison groups of firms or areas that do not …

Review Of The New Americans: How The Melting Pot Can Work Again, By Michael Barone, Fred Foldvary

Faculty Publications

A review of The New Americans: How the Melting Pot Can Work Again, by Michael Barone. Regnery Publishing • 2001 • 338 pages • $27.95 

The Impact Of A Large Wage Increase On The Workforce Stability Of Ihss Home Care Workers In San Francisco County, Candace Howes

Economics Faculty Publications

This study is one of the very few large-scale empirical investigations of the effect of wages on labor market outcomes in any direct care industry, and possibly the only such study specifically addressing conditions in the homecare industry. It records the impact of the nearly doubling of wages for IHSS homecare workers in San Francisco County over a 52 month period. The project is based on a unique database, which matches approximately 18,000 San Francisco County homecare workers in 26,115 unique matches to 15,500 service recipients between November 1997 and February 2002.

Tax Cuts, Employment And Asset Prices: A Real Intertemporal Model, Hian Teck Hoon, Edmund S. Phelps

Research Collection School Of Economics

We determine the effects of a delayed or immediate tax cut with or without a sunset feature in a real customer-market, nonRicardian economy. Our model incorporates both the supply-sider channel, through which reduced wage income taxes stimulate work effort, as well as the Feldstein-Rubin-Summers channel, through which cuts in income tax, in widening the deficit and thus driving up future short real interest rates, has a chilling effect on present and future investment, so reducing growth and employment on that account. After establishing conditions under which fiscal policy is sustainable, we first show that a delayed tax cut may depress …

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection School Of Economics

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore’s future economic success.

A Corrected Plug-In Method For The Quantile Confidence Interval Of A Transformed Regression, Zhenlin Yang, Yiu Kuen Tse

Research Collection School Of Economics

In this paper we propose an analytically corrected plug-in method for constructing confidence intervals of the conditional quantiles of a response variable with data transformation. The method can be applied to (i) a general conditional regression quantile, (ii) a general monotonic transformation, and (iii) a transformation model with heteroscedastic errors. Our results extend those in Yang (2002a), in which the median of a response variable under the Box-Cox transformation with homoscedastic errors was considered. A Monte Carlo experiment is conducted to compare the performance of the corrected plug-in method, the plug-in method and the delta method. The corrected plug-in method …

Venture Capital And Economic Growth: An Industry Overview And Singapore's Experience, Francis Koh, Winston T. H. Koh

Research Collection Lee Kong Chian School Of Business

This paper provides an overview of the venture capital industry, and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore's future economic success.

New Mexico Labor Market Review 10-31-2002, 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 September 2002.

Dealing With Non-Performing Loans Of Banks, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

A lot of confusion and misunderstanding has been created by several commentators on the issue of non-performing loans (NPLs) of banking system. They take the absolute amount of such loans at the current point of time and compare it with the quantum of such loans in October 1999 and make a hue and cry that the situation has deteriorated because the quantum of NPLs has gone up. Such a simplistic approach creates doubts in the minds of common people about the commitment of the government and the State Bank of Pakistan towards recovery of these loans and distorts the true …

Trends. When Governments Want Government To Change, Ibpp Editor

International Bulletin of Political Psychology

This Trends article discusses regime change in Germany and Iraq in a political psychological context.

Analysis Of U.S.-Canada Intra-Industry Trade, Bashir Qasmi, Scott Fausti, Moore Liuyi

Economics Staff Paper Series (1969 - 2017)

Determinants of U.S.- Canada Intra-industry trade in industry groups: a) Food and live products, b) Manufacturing products, and c) Machinery and transportation products are investigated. The analysis uses the OECD data for 1997 U.S.-Canada bilateral trade flows combined with the U.S. industry characteristics data from the U.S. Economic Census. Levels of intra-industry trade, measured by the Grubel Lloyd Index, were regressed on a number of industry characteristics using OLS techniques. Empirical results show that selected measures of product differentiation, economies of scale, and oligopolistic behavior are important determinants of U.S.-Canada bilateral trade in the selected industries. There are however, differences …

Thinking About Thinking In An Era Of Globalization: Implications For International Security, Ibpp Editor

International Bulletin of Political Psychology

This article identifies and critiques hypotheses concerning the impact of globalization on thinking and suggests consequences of thinking (reason, logic) as an epistemological tool of international security.

An Empirical Test Of The Rent-Shifting Hypothesis: The Case Of State Trading Enterprises, Stephen F. Hamilton, Kyle W. Stiegert

Economics

A central result in the theoretical literature on strategic trade is the ‘rent-shifting hypothesis’, the idea that government’s can employ trade policy as a precommitment device to transfer profit from foreign to domestic firms. To our knowledge, however, the rent-shifting hypothesis remains untested empirically. This paper constructs a theory-based empirical test of rent-shifting behavior that relies on observations of government precommitment variables employed through State Trading Enterprises (STEs). The analysis applies data on the delayed producer payment structure of the Canadian Wheat Board (CWB) and examines its merits as a rent-shifting mechanism in the international durum market. The model fails …

Washington's Workforce Development System Pays Off, Kevin Hollenbeck

Employment Research Newsletter

No abstract provided.

Fairness, Reciprocity, And Wage Rigidity, Truman F. Bewley

Cowles Foundation Discussion Papers

This paper contains a review of work on wage rigidity. The work includes field studies, and economic experiments, and psychological surveys. Economists have done the field studies and experiments, and management scientists and experimental psychologists have done the surveys.

The Economic Consequences Of A War With Iraq, William D. Nordhaus

Cowles Foundation Discussion Papers

Much has been written about the national-security aspects of a potential conflict in Iraq, but there are no studies of the cost. A review of several past wars indicates that nations historically have consistently underestimated the cost of military conflicts. This study reviews the potential costs of a conflict including the postwar expenses that might be required for occupation, humanitarian assistance, reconstruction, nation-building, along with the implications for oil markets and macroeconomic activity. It considers two potential scenarios that span the potential outcomes, ranging from a short and relatively conflict-free case to protracted conflict with difficult and expensive postwar reconstruction …

Adaptive Local Polynomial Whittle Estimation Of Long-Range Dependence, Donald W.K. Andrews, Yixiao Sun

Cowles Foundation Discussion Papers

The local Whittle (or Gaussian semiparametric) estimator of long range dependence, proposed by Künsch (1987) and analyzed by Robinson (1995a), has a relatively slow rate of convergence and a finite sample bias that can be large. In this paper, we generalize the local Whittle estimator to circumvent these problems. Instead of approximating the short-run component of the spectrum, φ(λ), by a constant in a shrinking neighborhood of frequency zero, we approximate its logarithm by a polynomial. This leads to a “local polynomial Whittle” (LPW) estimator. We specify a data-dependent adaptive procedure that adjusts the degree of the polynomial to the …

From Efficient Market Theory To Behavioral Finance, Robert J. Shiller

Cowles Foundation Discussion Papers

The efficient markets theory reached the height of its dominance in academic circles around the 1970s. Faith in this theory was eroded by a succession of discoveries of anomalies, many in the 1980s, and of evidence of excess volatility of returns. Finance literature in this decade and after suggests a more nuanced view of the value of the efficient markets theory, and, starting in the 1990s, a blossoming of research on behavioral finance. Some important developments in the 1990s and recently include feedback theories, models of the interaction of smart money with ordinary investors, and evidence on obstacles to smart …

One Simple Test Of Samuelson's Dictum For The Stock Market, Jeeman Jung, Robert J. Shiller

Cowles Foundation Discussion Papers

Samuelson (1998) offered the dictum that the stock market is “micro efficient” but “macro inefficient.” That is, the efficient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this paper, we present one simple test, based both on regressions and on a simple scatter diagram that vividly illustrates that there is some truth to Samuelson’s dictum. The data comprise all U.S. firms on the CRSP tape that have survived since 1926.

Disentangling Pay And Productivity In A Corporatist Economy: The Case Of Germany, Scott M. Fuess Jr., Meghan Millea

Department of Economics: Faculty Publications

Conventional theory predicts that productivity gains lead to pay hikes. Pay increases, however, can influence labor productivity. But what about in a corporatist economy? Focusing on Germany, we use an innovative technique developed by Geweke to disentangle the relationship between pay and productivity.

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

Public Policy and Public Affairs Faculty Publication Series

Massachusetts is still in a recession. Forecasts made earlier in the year — that the state economy would be experiencing modest growth by now — have been revised. Instead, it continues to contract. Joining long-suffering sectors such as technology and manufacturing, finance and state government are now making employment cuts. Even consumers, whose continued spending has been a last stronghold of the state economy, are showing signs of distress. Will the Commonwealth follow the nation on the road to recovery, or is our trajectory taking us elsewhere?

Why Relative Economic Position Does Not Matter: A Cost Benenit Analysis, Thomas J. Kniesner, W. Kip Viscusi

Center for Policy Research

The current debate over cost-benefit concerns in agencies’ evaluations of government regulations is not so much whether to consider costs and benefits at all but rather what belongs in the estimated costs and benefits. Overlaid is the long-standing belief that the distribution of costs and benefits needs some consideration in policy evaluations. In a recent article in the University of Chicago Law Review, Robert Frank and Cass Sunstein proposed a relatively simple method for adding distributional concerns to policy evaluation that enlarges the typically constructed estimates of the individual’s willingness to pay for safer jobs or safer products. One might …

Japanese Capitalism In Crisis: A Regulationist Interpretation (Book Review), Ramzi N. Frangul

WCBT Faculty Publications

Book review by Ramzi N. Frangul.

Boyer, R., & Yamada, T. (Eds.). (2000). Japanese capitalism in crisis: A regulationist interpretation. Routledge.

ISBN 9780415205597