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2003

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Articles 331 - 360 of 628

Full-Text Articles in Economics

A Cost Benefit Study Of Banning Leaf Burning In Cedar Falls, Iowa, Joshua Van Kley Apr 2003

A Cost Benefit Study Of Banning Leaf Burning In Cedar Falls, Iowa, Joshua Van Kley

Major Themes in Economics

This paper looks at the issue of leaf burning in the city of Cedar Falls, Iowa from an economic standpoint. It discusses the costs and benefits associated with leaf burning. A cost-benefit analysis was done over a 10 year period. The analysis suggests that a burning ban would be beneficial for Cedar Falls.

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Flaws In The Kyoto Protocol's Pollution Permit System, Adam Mellem Apr 2003

Flaws In The Kyoto Protocol's Pollution Permit System, Adam Mellem

Major Themes in Economics

The Kyoto Protocol of 1997 attempts to address the problem of global warming by establishing national greenhouse gas emissions targets and timetables. To reduce emissions, the protocol outlines a tradeable pollution permit system. The system would allow countries with high abatement costs to purchase permits from countries with low abatement costs, equalizing global marginal abatement costs. The protocol, however, is destined to fail because of the free-rider problem and the problem of trade leakage. Given the correct guidelines, a tradeable pollution permit system would provide a market-based, cost-effective way to reduce greenhouse gas emissions.

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E-Commerce: Choosing The Appropriate Tax Model, Jeffrey A. Scudder Apr 2003

E-Commerce: Choosing The Appropriate Tax Model, Jeffrey A. Scudder

Major Themes in Economics

The Internet’s economic role has increased dramatically over the past decade. Along with many benefits, e-commerce has brought with it some important policy questions. One question relates to tax policy, and whether Internet transactions should be subject to sales or use taxes. This paper examines that question, considering factors such as feasibility, efficiency, fairness (virtual v. “brick-and-mortar” retailers), and legality. The relationship between e-commerce tax policy and state and local government revenues will also be addressed. Based on these factors, the evidence suggests that taxing Internet sales would be feasible, efficient, and provide revenue for important public services.

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Legal And Economic Strategies For International Intellectual Property Protection: The Case Of Software, Liz Dunshee Apr 2003

Legal And Economic Strategies For International Intellectual Property Protection: The Case Of Software, Liz Dunshee

Major Themes in Economics

Intellectual property is an important asset for business and society. In 1998, the worldwide software market was estimated at $135 billion. Piracy, however, is reducing profits, innovation, investment, and tax revenues. In order to curb piracy, international intellectual property protection must be improved. This paper analyzes the Trade Related Intellectual Property Rights Agreement and the World Intellectual Property Organization. It also examines other methods of intellectual property protection, including arbitration, Digital Rights Management Systems, and price discrimination. Evidence suggests that optimal protection includes a mixture of international laws, pricing strategies, and governmental intervention.

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The Role Of Athletics In Higher Education, Ryan Miller Apr 2003

The Role Of Athletics In Higher Education, Ryan Miller

Major Themes in Economics

Major reform is needed in intercollegiate athletics. Athletics have a part in higher education but athletic scholarships do not. The current system of athletic scholarships is hurting higher education both financially and academically. There are several possible reform options but the best option is to completely overhaul the current system and make college athletics a truly amateur operation.

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Contagious Currency Crises, Fasika Damte Haile Apr 2003

Contagious Currency Crises, Fasika Damte Haile

Dissertations

Currency crises, prior to the 1990s, were thought to be the result of inconsistencies between domestic macroeconomic policies and the exchange rate commitment. But the collapse of the European Exchange Rate Mechanism in 1992, the 1997 Asian crisis and the most recent crisis in Latin America have shifted the focus to models based on self-fulfilling expectations and on contagion. This has resulted in the development of different theoretical models suggesting different mechanisms by which contagion works. But there is still relatively little empirical consensus on how crises spread across countries. My dissertation is intended to fill in the void by …

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An Analysis Of The Level Of Union Membership In The United States Since The Implementation Of Nafta, David D. Westcot Apr 2003

An Analysis Of The Level Of Union Membership In The United States Since The Implementation Of Nafta, David D. Westcot

Dissertations

Union membership in the United States has been in a state of decline over the last two decades and international trade has been cited as one of the reasons. As such, U.S. labor unions perceived the 1994 implementation of the North American Free Trade Agreement (NAFTA) as an assault on organized labor. This perspective is based on the belief U.S. capital and jobs would move jobs south in an effort to take advantage of Mexico's low-wage differentials. With this in mind, the objective of this research was to determine if the percentage of union membership in any of the 22 …

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A Score Test For Box-Cox Functional Form, Zhenlin Yang, Tilak Abeysinghe Apr 2003

A Score Test For Box-Cox Functional Form, Zhenlin Yang, Tilak Abeysinghe

Research Collection School Of Economics

This paper presents two score tests to determine a value for the Box-Cox transformation parameter. The test based on expected information performs better in small samples and is computationally simpler than the one based on observed information; therefore, the former is recommended.

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Commune-Level Poverty Estimates And Ground Truthing, Tomoki Fujii Apr 2003

Commune-Level Poverty Estimates And Ground Truthing, Tomoki Fujii

Research Collection School Of Economics

The United Nations World Food Programme (WFP) Cambodia, in close collaboration with various government institutions, has been conducting poverty analysis and mapping refinement. The main objectives of the refinement have been (i) to refine core poor areas in Cambodia, (ii) to identify priority areas for social sector interventions such as those targeted to adult and child education, health and nutrition interventions, and (iii) to identify priority areas for assisting variable population groups such as those in flood and drought prone areas, forest and fishing concession areas.

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What Goes Up By (S. Barnet And R. Ossowski, Finance And Development: Vol. 40, No. 1 March 2003): A Review, P.N. Omanukwue Mar 2003

What Goes Up By (S. Barnet And R. Ossowski, Finance And Development: Vol. 40, No. 1 March 2003): A Review, P.N. Omanukwue

Economic and Financial Review

This is a review of a study which identified uncertainties about the size of oil reserves, cost of extracting oil and the future path of oil prices as some of the factors that pose long run challenges for fiscal policy. Accordingly, one of the functions of government is to allocate resources (government wealth, oil inclusive) equitably and efficiently. How to do this however, poses a challenge to fiscal policy.

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Determinants Of Commercial Bank Interest Rate Spread In A Liberalized Financial System: Empirical Evidence From Nigeria (1989-2000), C.I. Enendu Mar 2003

Determinants Of Commercial Bank Interest Rate Spread In A Liberalized Financial System: Empirical Evidence From Nigeria (1989-2000), C.I. Enendu

Economic and Financial Review

This paper provided empirical evidence on the determinants of interest rate spread in a liberalized financial system for the period 1989-2000, using selected banks in Nigeria. Ex-ante interest rate spread equations were estimated using bank balance sheet and income statement as well as macroeconomic data. The results showed that macroeconomic and monetary policy/financial regulation factors were more important determinants of commercial banks' interest spread than bank level factors, Inflation rate, GDP, .financial deepening, cash reserve requirement, risk premium, treasure bill rate, loan asset quality, liquidity risk and non interest expenses were the most important.factors that affected commercial banks' interest rate …

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Towards Economic Convergence In Wamz: Effects Of Fiscal Dominance On Macroeconomic Stability, O.J. Nnannna Mar 2003

Towards Economic Convergence In Wamz: Effects Of Fiscal Dominance On Macroeconomic Stability, O.J. Nnannna

Economic and Financial Review

This article discusses the threat posed by fiscal dominance and measures that could be adopted to contain it in order to foster macroeconomic convergence in the WAMZ. The presentation is organised around two elements: the boom and burst cycle of capital expenditure, adjudged to be the root cause of fiscal dominance, and an empirical analysis of the implication of fiscal dominance for macroeconomic stability in the WAMZ. While the empirical and anecdotal evidences of the adverse effect of fiscal dominance is overwhelming, the paper went .further to propose a fiscal rule that would contain the destabilising effect of large revenue …

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Monetary Management And The Current Role Of Bretton Woods Institutions, O.A. Uchendu Mar 2003

Monetary Management And The Current Role Of Bretton Woods Institutions, O.A. Uchendu

Economic and Financial Review

The purpose of this paper is to discuss the role of the Bretton Woods Institutions (The World Bank Group and International Monetary Fund, IMF) in global monetary management with particular emphasis on the Funds relationship with Nigeria. The Bretton Woods Institutions have statutory responsibility to interact with member countries. However, this relationship has been misunderstood probably because of their perceived "intrusive" nature. The paper concluded that the Institutions have had important role to play in global monetary management and expected that this role will continue in the future to the extent that it is to the best interest of the …

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International Initiatives: Islamic Finance And Pakistan's Efforts In The Financial War On Terrorism, Ishrat Husain Dr. Mar 2003

International Initiatives: Islamic Finance And Pakistan's Efforts In The Financial War On Terrorism, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Role of Islamic Finance Islamic banks appeared on the world scene over two decades ago The primary principles of Islamic Banking is the prohibition of Biba (usury) which is believed to be a means of exploitation of the masses.

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New Mexico Labor Market Review 03-31-2003, New Mexico Department Of Labor Mar 2003

New Mexico Labor Market Review 03-31-2003, 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 February 2003.

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Quality Of Life And Diversity In The Benton Harbor Metropolitan Area: Findings And Suggestions In Attracting Professional Workers, George A. Erickcek, Brad R. Watts Mar 2003

Quality Of Life And Diversity In The Benton Harbor Metropolitan Area: Findings And Suggestions In Attracting Professional Workers, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

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Determinants Of Profitability In The Sd Beef Cow-Calf Enterprise, Carol J. Cumber Mar 2003

Determinants Of Profitability In The Sd Beef Cow-Calf Enterprise, Carol J. Cumber

Economics Commentator (1972- 2016)

No abstract provided.

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State Self-Employment Policies: A Decade Of Change Final Report, Nancy Arnold Ph.D., University Of Montana Rural Institute Mar 2003

State Self-Employment Policies: A Decade Of Change Final Report, Nancy Arnold Ph.D., University Of Montana Rural Institute

Employment

In 1991-92, the Research and Training Center on Rural Rehabilitation (RTC: Rural) evaluated 45 state Vocational Rehabilitation (VR) agencies’ policies and procedures regarding self-employment for people with disabilities. Based on this analysis, researchers developed and broadly disseminated a model VR self-employment policy (Arnold & Seekins, 1994) and were successful in their efforts to have self-employment included as an employment outcome in the 1998 Reauthorization of the Rehabilitation Act. In 2002, RTC: Rural investigated state policies again to see how they had changed and what trends had developed over the intervening decade. Researchers requested a copy of state self-employment policies and …

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Public Goods And The Value Of Product Quality Regulations: The Case Of Food Safety, Stephen F. Hamilton, David L. Sunding, David Zilberman Mar 2003

Public Goods And The Value Of Product Quality Regulations: The Case Of Food Safety, Stephen F. Hamilton, David L. Sunding, David Zilberman

Economics

The paper examines preferences for product quality regulations. Our premise is that preferences for product quality regulations derive from preferences for both private and public goods. The model is used to explain public attitudes toward a referendum measure to eliminate pesticide residues on food. Results from a survey of consumers are consistent with the conceptual model and show that preferences for public goods influence support for the product quality regulation. The results help explain why consumption behavior is a poor predictor of political behavior, and have implications for methods that use voting and market behavior to value public goods.

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United States And Mexico: Identification And Analysis Of Trade Statistics Data Sets, Carlos Olmedo, Daniel Carrasco-Terrazas Mar 2003

United States And Mexico: Identification And Analysis Of Trade Statistics Data Sets, Carlos Olmedo, Daniel Carrasco-Terrazas

IPED Technical Reports

No abstract provided.

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Communication And Monetary Policy, Jeffrey Amato, Stephen Morris, Hyun Song Shin Mar 2003

Communication And Monetary Policy, Jeffrey Amato, Stephen Morris, Hyun Song Shin

Cowles Foundation Discussion Papers

One role of monetary policy is to coordinate expectations in the economy and greater transparency of monetary policy may lead to greater coordination. But if transparent monetary policy helps coordinate expectations, then it must also magnify mistakes.

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Beauty Contests, Bubbles And Iterated Expectations In Asset Markets, Franklin Allen, Stephen Morris, Hyun Song Shin Mar 2003

Beauty Contests, Bubbles And Iterated Expectations In Asset Markets, Franklin Allen, Stephen Morris, Hyun Song Shin

Cowles Foundation Discussion Papers

In a financial market where traders are risk averse and short lived, and prices are noisy, asset prices today depend on the average expectation today of tomorrow’s price. Thus (iterating this relationship) the date 1 price equals the date 1 average expectation of the date 2 average expectation of the date 3 price. This will not in general equal the date 1 average expectation of the date 3 price. We show how this failure of the law of iterated expectations for average belief can help understand the role of higher order beliefs in a fully rational asset pricing model and …

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Eclectic Distributional Ethics, John E. Roemer Mar 2003

Eclectic Distributional Ethics, John E. Roemer

Cowles Foundation Discussion Papers

Utilitarians, egalitarians, prioritarians, and sufficientarians each provide examples of situations demonstrating, often compellingly, that a sensible ethical observer must adopt their view and reject the others. We argue, to the contrary, that an attractive ethic is eclectic, in the sense of coinciding with these apparently different views in different regions of the space of social states.

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Information Acquisition In Committees, Dino Gerardi, Leeat Yariv Mar 2003

Information Acquisition In Committees, Dino Gerardi, Leeat Yariv

Cowles Foundation Discussion Papers

The goal of this paper is to illustrate the significance of information acquisition in mechanism design. We provide a stark example of a mechanism design problem in a collective choice environment with information acquisition. We concentrate on committees that are comprised of agents sharing a common goal and having a joint task. Members of the committee decide whether to acquire costly information or not at the outset and are then asked to report their private information. The designer can choose the size of the committee, as well as the procedure by which it selects the collective choice, i.e., the correspondence …

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Consistent Hac Estimation And Robust Regression Testing Using Sharp Origin Kernels With No Truncation, Peter C.B. Phillips, Yixiao Sun, Sainan Jin Mar 2003

Consistent Hac Estimation And Robust Regression Testing Using Sharp Origin Kernels With No Truncation, Peter C.B. Phillips, Yixiao Sun, Sainan Jin

Cowles Foundation Discussion Papers

A new family of kernels is suggested for use in heteroskedasticity and autocorrelation consistent (HAC) and long run variance (LRV) estimation and robust regression testing. The kernels are constructed by taking powers of the Bartlett kernel and are intended to be used with no truncation (or bandwidth) parameter. As the power parameter (ρ) increases, the kernels become very sharp at the origin and increasingly downweight values away from the origin, thereby achieving effects similar to a bandwidth parameter. Sharp origin kernels can be used in regression testing in much the same way as conventional kernels with no truncation, as suggested …

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Political Equilibrium With Private Or/And Public Campaign Finance: A Comparison Of Institutions, John E. Roemer Mar 2003

Political Equilibrium With Private Or/And Public Campaign Finance: A Comparison Of Institutions, John E. Roemer

Cowles Foundation Discussion Papers

We propose a theory of party competition (two parties, single-issue) where citizens acquire party membership by contributing money to a party, and where a member’s influence on the policy taken by her party is proportional to her campaign contribution. The polity consists of informed and uninformed voters: only informed voters join parties, and the party campaign chest, the sum of its received contributions, is used to advertise and reach uninformed voters. Parties compete with each other strategically with respect to policy choice and advertising. We propose a definition of political equilibrium, in which party membership, citizen contributions, and parties’ policies …

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Indeterminacy Of Citizen-Candidate Equilibrium, John E. Roemer Mar 2003

Indeterminacy Of Citizen-Candidate Equilibrium, John E. Roemer

Cowles Foundation Discussion Papers

In a citizen candidate equilibrium, there are n candidates each of whom announces a policy in a policy space of dimension d. Thus the policy equilibrium lives in a space of dimension nd . We show, in a canonical example, that the equilibrium manifold is generically of dimension nd . In particular, the set of equilibria contains an open set in T n .

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Committee Design In The Presence Of Communication, Dino Gerardi, Leeat Yariv Mar 2003

Committee Design In The Presence Of Communication, Dino Gerardi, Leeat Yariv

Cowles Foundation Discussion Papers

The goal of this paper is to introduce communication in a collective choice environment with information acquisition. We concentrate on decision panels that are comprised of agents sharing a common goal and having a joint task. Members of the panel decide whether to acquire costly information or not, preceding the communication stage. We take a mechanism design approach and consider a designer who can choose the size of the decision panel, the procedure by which it selects the collective choice, and the communication protocol by which its members abide prior to casting their individual action choices. We characterize the solution …

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The Assimilation Of Immigrants Who Arrived In The United States As Children, Michael Seeborg, Jeremy Sandford Mar 2003

The Assimilation Of Immigrants Who Arrived In The United States As Children, Michael Seeborg, Jeremy Sandford

Scholarly Publications

Although there has been much research on the effects of national origin, English speaking ability and educational attainment on the assimilation of immigrants, there has been little work on the effect of age of immigration on assimilation. This paper uses 1990 Census (IPUMS) data to assess the effects of age immigration on the relative earnings performance of 30-year-old immigrant men. Earnings regressions are run for three cohorts of immigrants defined by their age of arrival and a decomposition analysis is conducted to explain earnings gaps between each of the three immigrant cohorts and a sample of nonimmigrant men. We find …

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The European Central Bank And The Federal Reserve, Stephen G. Cecchetti, Róisín O'Sullivan Mar 2003

The European Central Bank And The Federal Reserve, Stephen G. Cecchetti, Róisín O'Sullivan

Economics: Faculty Publications

In the 4 years of its existence, the European Central Bank (ECB) has made significant contributions to the macroeconomic stability of the euro area. This paper takes a critical look at the ECB and compares its institutional structure, policy framework, and operational procedures with those of the longer-established US central bank. We discuss the implications of various differences between the ECB and the Federal Reserve with a view toward identifying successful elements of the practices of both these institutions. The paper recommends that the ECB abandon the first pillar of its monetary policy strategy that affords a special role to …

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