Economics Commons^™

Environment Stress And Increased Vulnerability To Impoverishment And Survival In Ethiopia: A Synthesis, Tesfaye Teklu

International Conference on African Development Archives

At the core of this short paper is explaining the persistence of environment-induced famine conditions in rural Ethiopia. To start with, there are important empirical findings that set the context. First, poverty is Ethiopia is widespread and deep (MEDaC, 1999; MFDE, 2002). Officially reported poverty head-count measure based on the 1995 nationally representative consumption survey, for example, shows that 45.5 percent of the Ethiopian population could not afford costs of privately provisioned basic needs (MEDaC, 1999). The high-order poverty estimates also point poverty is deep and unequal among the poor.

Macroeconomic Development And Private Sector Performance In Ethiopia: The 1990’S Experience, Melesse Minale

International Conference on African Development Archives

After the downfall of the military government in 1991, the transitional government of Ethiopia committed itself to implement the stabilization and structural adjustment program with the help of the IMF and the World Bank. The objective of the program was to remove cost-price distortions, improve market related incentives, promote private enterprises and exports, and liberalize the economy and to reduce the role of the public sector in the economy. The a private led competitive economy operating under a free market and prudent fiscal and monetary policy environments was optimistically expected to emerge from this. The practical experience of the last …

Net Impact And Benefit-Cost Estimates Of The Workforce Development System In Washington State, Kevin Hollenbeck, Wei-Jang Huang

Upjohn Institute Technical Reports

This study estimates the net impacts and private and social benefits and costs of nine workforce development programs administered in Washington State. Five of the programs serve jobready adults: Community and Technical College Job Preparatory Training, Private Career Schools, Apprenticeships, Job Training and Partnership Act (JTPA) Title III programs, and Community and Technical College Worker Retraining. Two of the programs serve adults with employment barriers: Community and Technical College Adult Basic Skills Education and JTPA Title II-A programs. The other two programs serve youth: JTPA Title II-C programs and Secondary Career and Technical Education. The net impact analyses were conducted …

Missing Aggregate Dynamics: On The Slow Convergence Of Lumpy Adjustment Models, Ricardo J. Caballero, Eduardo Engel

Cowles Foundation Discussion Papers

The dynamic response of aggregate variables to shocks is one of the central concerns of applied macroeconomics. The main measurement procedure for these dynamics consists of estimating an ARMA or VAR (VARs, for short). In non- or semi-structural approaches, the characterization of dynamics stops there. In other, more structural approaches, researcher try to uncover underlying adjustment cost parameters from the estimated VARs. Yet, in others, such as in RBC models, these estimates are used as the benchmark over which the success of the calibration exercise, and the need for further theorizing, is assessed. The main point of this paper is …

Uniqueness Of Equilibrium In The Multi-Country Ricardo Model, Herbert E. Scarf, Charles A. Wilson

Cowles Foundation Discussion Papers

We present two arguments, one based on index theory, demonstrating that the multi-country Ricardo model has a unique competitive equilibrium if the aggregate demand functions exhibit gross substitutability. The result is somewhat surprising because the assumption of gross substitutability is sufficient for uniqueness in a model of exchange but not, in general, when production is included in the model.

The Ideal Inflation Indexed Bond And Irving Fisher's Impatience Theory Of Interest In An Overlapping Generations World, John Geanakoplos

Cowles Foundation Discussion Papers

Irving Fisher long advocated inflation indexed bonds. I prove in the context of a multicommodity CAPM world that the best welfare improving bond pays the minimum money needed to achieve the same utility, and not the minimum needed to buy an ideal commodity bundle. Irving Fisher also developed and advocated the impatience theory of interest. But in OLG economies, the rate of interest is determined by population growth, not impatience. I reconcile this contradiction by proving that in stationary OLG economies with land, the interest rate at the unique steady state does depend on impatience. Indeed, the proposition that greater …

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

Public Policy and Public Affairs Faculty Publication Series

The state economy appears poised for future growth, but serious issues remain. The “unwinding” of the economic excesses of the 1990s is delaying a genuine economic turnaround, but many other issues are weighing heavily on the economy. These include the risk of terrorism, weak global economic performance, a weak dollar (this issues cuts two ways), and the threat of deflation. When a recovery arrives, job growth will probably lag, and be modest when it appears. We should not expect to return to the heady days of the late 1990s anytime soon.

Monetary Convergence And Risk Premiums In The Eu Accession Countries, Lucjan Orlowski

WCBT Faculty Publications

This study examines the impact of various monetary policy regimes on the ability to lower inflation and exchange rate risk premiums in the EU accession countries as they undergo monetary convergence to the eurozone. It proposes a monetary policy framework of flexible targeting of relative inflation risk premium that is believed to be credible and useful for managing these two categories of risk. A model of inflation and exchange rate risk premiums within the context of inflation targeting is developed. Recent trends in these risk premiums in Hungary, the Czech Republic and Poland are tested by employing the threshold ARCH …

Social Security's Earnings Test Penalty And The Employment Rates Of Elderly Men Aged 65 To 69, Stephen Rubb

WCBT Faculty Publications

Social Security provides retirement income to eligible elderly individuals who reach age 62 and apply for benefits. Beyond this age, some recipients continue to work on a full- or part-time basis. The Social Security Administration reduces the annual level of benefits for those recipients who have earnings above a specified amount known as the earnings test threshold. Effective in 1990, the earnings test penalty for a person aged 65 to 69 was reduced from 50 cents to 33 cents for every dollar earned in excess of the annually adjusted threshold. The labor supply response to the 1990 reduction in the …

Stuffed Animals And The Predicament Of Culture: Lost In The Bedroom Jungle, Walter Putnam

Reconstruction: Studies in Contemporary Culture

[First paragraph]

These preachings are from the gospel according to Reverend Billy, spiritual leader of the Church of Stop Shopping (qtd. in Kalb). For several years, Reverend Billy has been waging a guerilla war in Lower Manhattan against the likes of Starbucks and Disney, including agit-prop performances where he brandishes stuffed animals atop tall poles like skulls adorning savage palisades. His inversion and subversion of these multivalent emblems of consumer culture reinforce the anti-consumer message he delivers in our era of late capitalism and globalization. His conspicuous utilization of stuffed animals highlights the manner in which these ubiquitous and inconspicuous …

The Relevance Of Inflation And Exchange Rate Risk For Monetary Convergence To The Eurozone, Lucjan Orlowski

WCBT Faculty Publications

This study places a strong emphasis on the ability of Central European Countries to lower inflation and exchange rate risk premiums on their path of monetary convergence to the eurozone. A model of the nexus between both risk premiums is presented along with the recent evidence supporting well-coordinated interactions between these risk premiums for Poland, Hungary and the Czech Republic. The analysis implies that monetary policies based on direct inflation targeting are likely to contain these risk premiums in the candidate countries and can be effectively used during the remaining period of their preparations for entering the euro area.

Net Impact Estimates Of The Workforce Development System In Washington State, Kevin Hollenbeck

Upjohn Institute Working Papers

This study estimates the net impacts and private and social benefits and costs of nine workforce development programs administered in Washington State. Five of the programs serve job-ready adults: Community and Technical College Job Training, Private Career Schools, Apprenticeships, Job Training and Partnership Act (JTPA) Title III programs, and Community and Technical College Worker Retraining. Two of the programs serve adults with employment barriers : Community and Technical College Adult Basic Skills Education and JTPA Title II-A programs. The other two programs serve youth: JTPA Title II-C programs and Secondary Career Technical Education. The net impact analyses were conducted using …

Dampak Penurunan Subsidi Bbm Terhadap Perekonomian Indonesia: Model Analisa Komputasi Keseimbangan Umum, Sri Indah Nikensari, Bambang Trianoso

Jurnal Ekonomi dan Pembangunan Indonesia

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Peran Sektor Jasa Terhadap Perekonomian Dki Jakarta: Analisis Input-Output, Djoni Hartono

Jurnal Ekonomi dan Pembangunan Indonesia

During the development of any economies, the structural transormation will put the services sector to yield higher role while leaving the primary and other goods sector in diminishing share.

Using Input-Output model, we analyse the possibilities of making OKI Jakarta as services town. Based on total forward, total backward linkage and other analysis output, we conform the highest role of services sector in this province. We also find that the final demand for services sector is higher than its intermediate demand, showing this product of this sector is mainly used for direct consumption.

The Interregional Impact Of Fiscal Decentralization In Indonesia: Inter Regional Social Accounting Matrix Model, Satria Utama, Bambang P. S. Brodjonegoro

Jurnal Ekonomi dan Pembangunan Indonesia

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Dampak Krisis Ekonomi Terhadap Distribusi Pendapatan Di Indonesia: Analisa Snse Indonesia 1995 Dan 1998, Yusuf Wibisono

Jurnal Ekonomi dan Pembangunan Indonesia

This paper examines the income distributional impact of the 1997s economic crisis that hit Indonesia using Social Accounting Matrix data for 1995 and 1998. Relying on a comparison of the distribution before and after crisis, the study suggests three main findings based on multiplier analysis. First, poor households have been harder hit by crisis than rich households. Second, there are indication that crisis making income transfer likely to occurs from consumer to producer. Third, it is hard to eliminate disparity in income distribution relying only on market mechanism. From impact analysis we obtain the result for policy recommendation. Agriculture price …

Contrasting The Employment Of Single Mothers And People With Disabilities, David C. Stapleton, Richard V. Burkhauser

Employment Research Newsletter

No abstract provided.

Development Assistance And The Construction Of Government‐Initiated Community Institutions, Eric V. Edmonds

Dartmouth Scholarship

This paper provides new evidence on the role of official development assistance in program implementation. Governments and donors around the world are promoting participatory development and community management program s that transfer responsibilities and rights to local communities. Large-scale implementation of these schemes requires significant funding from multiple sources. I consider a uniform ins titutional reform in Nepal and find that the scope of program implementation and the characteristic s of new institutions vary across types and sources of aid. In my analysis, I develop a geographic matching estimator that compares adjacent communities receiving different types of assistance. This heterogeneity …

Dampak Desentralisasi Fiskal Di Indonesia Terhadap Pertumbuhan Ekonomi Dan Disparitas Antar Daerah: Analisa Model Makro Ekonometrik Simultan, Teguh Dartanto, Bambang P. S. Brodjonegoro

Jurnal Ekonomi dan Pembangunan Indonesia

From January 1, 2001, when new autonomy laws were implemented. Indonesia began to move toward decentralization of what had been a highly decentralized. This policy adopts two complimentary laws. Law No. 22/1999, which basically the devolution policy, has been accompanied by Law No. 25/1999, which basically reflect that decentralization policy in Indonesia has adopted the concept of "money follows function".

Law No. 25/1999 describe the fiscal decentralization process that will create a new intergovernmental transfer scheme between the central government and local government. Some of items in the law were really new ones such as the natural resources revenue sharing, …

Price Convergence Between Hong Kong And The Chinese Mainland, Na Li

Lingnan Theses

Over the past decade, goods and capital flows between Hong Kong and Chinese Mainland have increased substantially, however, there have been few rigorous empirical study on whether and to what extent the two economies integrated. This study intends to fill this gap by testing whether relative prices of different goods and services converge between Hong Kong and Mainland China for the period from 1997 to 2002.

Using a panel of 17 commodity prices from Hong Kong and four major cities of Chinese Mainland (Beijing, hanghai, shenzhen, Guangzhou), I find statistical evidence of price convergence between Hong Kong and Chinese Mainland. …

Openness, Growth, And Development: Evidence From A Panel Of Developing Countries, Farrokh Nourzad, Jennifer J. Powell

Economics Faculty Research and Publications

This paper examines the interaction between openness, growth, and development using a panel of forty-seven developing countries and five-year averages for the period, 1965-1990. Its primary objective is to determine whether there is a direct link between the level of development and openness, while controlling for the indirect effect of openness through its impact on economic growth. Using a two-equation simultaneous-equations model of development and growth and three alternative measures of openness, our findings suggest that openness has a positive influence on both economic growth and human development. We also find that while economic growth makes a positive contribution to …

Designated Marketing Areas: Using Zip Codes As A Marketing Tool: 2003, Norma P. Nickerson

Institute for Tourism and Recreation Research Publications

This report converts zip codes of nonresident visitors to Montana as well as all visitors to each of the six Montana travel regions into the 211 Designated Marketing Areas of the United States. An analysis of successful existing markets and opportunity markets is provided.

Tinjauan Terhadap Metode Ekonometrika Lanjutan, Telisa Aulia F.

Jurnal Ekonomi dan Pembangunan Indonesia

Econometric models have been played an increasingly important role in empirical analysis in economics. This paper provides an overview on some advanced econometric methods that increasingly used in empirical studies.

A panel data combines features of both time series and cross section data. Because of increasing availability of panel data in economic sciences, panel data regression models are being increasingly used by researcher. Related to panel data model, there are some methods that will be discussed here such as fixed effect and random effect. A new approach to panel data that developed by Im, Shin, and Pesaran (2002) for testing …

Kerjasama Ekonomi Korea Selatan Dan Indonesia Di Masa Kini Dan Masa Depan, Young Kyu Jeong

Jurnal Ekonomi dan Pembangunan Indonesia

This study analyzes the changes and characteristics of economic cooperation between Korea and Indonesia during the period from 1980 to 2002. Gross trade and direct investments are studies here, as well as ODA such as per categorries, field, in order to understand Korea- Indonesia's economic cooperation.

Crude oil, gas and other natural resources took up the greatest portion of Indonesia exports until the 2002, Since the mid-1980's, exports have grown by a large margin owing to the nation's export-oriented economic development strategy and stabilization of oil prices. Trade and direct investment showed a continuous increase throughout the period, with the …

Income And Influence: Social Policy In Emerging Market Economies, Ethan B. Kapstein, Branko Milanovic

Employment Research Newsletter

No abstract provided.

Transformation Approaches For The Construction Of Weibull Prediction Interval, Zhenlin Yang, Stanley P. See, Min Xie

Research Collection School Of Economics

Two methods of transforming the Weibull data to near normality, namely the Box-Cox method and Kullback-Leibler (KL) information method, are discussed and contrasted. A simple prediction interval (PI) based on the better KL information method is proposed. The asymptotic property of this interval is established. Its small sample behavior is investigated using Monte Carlo simulation. Simulation results show that this simple interval is close to the existing complicated PI where the percentage points of the reference distribution have to be either simulated or approximated.

A New Coincident Index Of Business Cycles Based On Monthly And Quarterly Series, Roberto S. Mariano, Yasutomo Murasawa

Research Collection School Of Economics

Popular monthly coincident indices of business cycles, e.g. the composite index and the Stock-Watson coincident index, have two shortcomings. First, they ignore information contained in quarterly indicators such as real GDP. Second, they lack economic interpretation; hence the heights of peaks and the depths of troughs depend on the choice of an index. This paper extends the Stock-Watson coincident index by applying maximum likelihood factor analysis to a mixed-frequency series of quarterly real GDP and monthly coincident business cycle indicators. The resulting index is related to latent monthly real GDP. [PUBLICATION ABSTRACT]

What Has Luck Got To Do With Economic Development? An Interpretation Of Resurgent Asia's Growth Experience, Hing-Man Leung, Swee Liang Tan, Zhenlin Yang

Research Collection School Of Economics

This paper critically reexamines the belief, currently gathering strength in the literature, that economic development depends on good luck rather than on good policy, and that Prometheus is “unchained by chance”. While it is impossible to disprove the role of luck in growth, we argue that luck is endogenous, and good luck is a function of good policy. Luck favours those who strive. Again contrary to common belief, we show that resurgent Asian economies have endured more, not less, than their fair share of economic volatility. They learned their lessons by success and failures, and luck is endogenous through learning-by-investing.

Access To Credit, Plot Size And Cost Inefficiency Among Smallholder Tobacco Cultivators In Malawi, Gautam Hazarika, Jeffrey Roger Alwang

School of Economics and Finance Faculty Publications

Using data from the Malawi Financial Markets and Household Food Security Survey, this paper examines the effect of access to credit from formal sources, and tobacco plot size, on cost inefficiency among Malawian smallholder tobacco cultivators. Farm-specific cost inefficiency is estimated within the framework of stochastic frontier analysis. Access to credit is measured as the sum of household members' self-reported credit limits at credit organisations, arguably a truer measure of an exogenous credit constraint than credit program participation or actual loan uptake. It is found that tobacco cultivation is significantly less cost inefficient per acre on larger plots. While access …

New Mexico Labor Market Review 06-30-2003, 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 2003.