Economics Commons^™

Monetary And Other Financial Sector Policy Measures In 2004., Nnanna O. J

Bullion

The objective of this paper is to review the monetary and other financial sector policy measures in 2004, with a view to identifying how they assist in achieving the macroeconomic objectives of the government in fiscal 2004. This paper evaluates the financial sector and the macroeconomic developments during fiscal 2003. It examines the monetary and other financial sector policies in 2004. A good monetary policy is expected to achieve macro economic stability and a sound financial sector if effectively implemented and barring fiscal shocks. Overall, socio-political stability and fiscal discipline are critical factors for the effectiveness of monetary policy. The …

Keynote Address At The Policy Seminar On The 2004 Federal Government Budget., Sanusi J. O Dr.

Bullion

This is a Keynote address delivered at the Policy Seminar on the 2004 Federal Government Budget, jointly organized by the Central Bank of Nigeria (CBN), the National Centre for Economic Management and Administration (NCEMA) and the Nigerian Economic Society (NES). The seminar is the ninth in the series of the inter-agency collaborative effort, aimed at providing a forum for major stake-holders in the economy to critically analyse and evaluate the adequacy, or otherwise of the current fiscal and monetary policy measures, in achieving the central objectives of the Federal Government.

External Sector Policies In The 2004 Budget, Obadan I. Mike

Bullion

External sector problems have continued to pose serious challenges to economic management in Nigeria. There is the challenge of conducting trade policy within the framework of the World Trade Organisation's [WTO] rules and regulations without compromising the country's short and Iong-term interests. This paper discusses the policy thrusts with respect to three issues in 2004, viz: Trade policy, Exchange rate policy, and External debt management. In the last few years, the government appears to have recognized the need to conduct trade policy, specifically, trade liberalization in a sensible and orderly manner. Hence, the growing effective protection being accorded local industries. …

Real Sector Policies In The 2004 Budget, A I. Ayodele

Bullion

The real sector of the economy is composed of such sub-sectors as agriculture, manufacturing, mining (solid minerals), crude oil and gas. Given this composition, it is no gainsaying that the real sector of the Nigerian economy constitutes the main driving force of the country, such that no sustainable development can be achieved without a well-developed and viable real sector. This paper examines the Nigerian real sector. It looks at the features which constitute some threats to the success of policies on the real sector. It makes a review of the real sector policies in the 2004 budget and It focusses …

Assessment Of Nigeria's Domestic Debt Sustainability, S.C. Rapu

Economic and Financial Review

This paper attempts to measure the sustainable domestic debt stock level of the Federal Government of Nigeria over a period of time. This is necessary, considering the growing proportion of the cost of domestic debt service in Federal Government total expenditure. The paper addresses definitional issues about domestic debt and domestic debt sustainability relative to national output as well as the necessary policy implications. It also examined the causes, size and growth, sources and structure. Using the budget constraint model relative to GDP, the paper concludes that under the current fiscal stance of primary deficit, the Federal Government domestic debt …

Basel Capital Adequacy Accord 1988 And The New Proposed Accord With Application To Egyptian Commercial Public Sector Banks : The Period From 1985-2001, Amr Mohamed El Tiby

Archived Theses and Dissertations

No abstract provided.

The Marble Industry In Egypt: A Microeconomic Analysis, Azza Ibrahim Hamed Kandil

Archived Theses and Dissertations

This thesis presents a microeconomic assessment of the marble industry in Egypt. It starts with an overview and analysis of the international marble industry, highlighting this industry as one of the oldest industries in the world. Historically, the industry moved from labor­intensive to capital-intensive with the advent of technological advancement, including development of automated production tools like cranes and diamond cutting wires. In Egypt, during the past 20 years, market entry into the industry was high, due to the high profit margins achieved. In addition, there was (and still is) lack of effective government regulation. Currently, the marble industry in …

Constructing A Social Welfare Function Under Poverty And Inequality With Application To Developing Countries, Nyiwul Linus Mabughi

Archived Theses and Dissertations

In this study entitled "Constructing a Social Welfare Function under Poverty and Inequality with Application to Developing Countries"; prepared by Nyiwul Linus Mabughi under the supervision of Dr. Tarek Selim (The American University in Cairo), we provide a post-Sen theoretical conceptualization of a social welfare function and application to developing countries. In the methodology, we undertake a decomposition of efficiency and distribution aspects of welfare and examine the sensitivity of the various elements of the social welfare formulation. We develop a new social welfare .. function based on different ec9nomic development elements. These elements include per capita income (PPP), total …

Small Cities Blues: Looking For Growth Factors In Small And Medium-Sized Cities, George A. Erickcek, Hannah J. Mckinney

Upjohn Institute Working Papers

The purpose of this exploratory study is to attempt to identify particular public policies which have the potential to increase the economic viability of smaller metropolitan areas and cities. We identify characteristics associated with smaller metro areas that performed better-than-expected (winners) and worse-than-expected (losers) during the 1990s, given their resources, industrial mix, and location as of 1990. Once these characteristics have been identified, we look for evidence that public policy choices may have promoted and enhanced a metro area's ability to succeed and to regain control of its own economic destiny. Methodologically, we construct a regression model which identifies the …

Complex Economic Systems: Using Collective Intentionality Analysis To Explain Individual Ldentity In Networks, John B. Davis

Economics Faculty Research and Publications

Une approche particulière de l'analyse de économies vues comme des systèmes complexes étudie l'interaction entre les individus dans des réseaus locaux ou de voisinage qui sont un sous-ensemble des économies plus larges. En rejetant la vision traditionnelle des fondations microéconomiques de la relation entre le comportement économique individuel et agrégé comme s'influençant réciproquement. Ce papier étudie la conception des réseaux de l'individu interactif utilisée dans l'analyse d'Alan Kirman (2001) dans le cadre de relations de loyauté entre les acheteurs et les vendeurs sur le marché aux poissons de Marseille, en utilisant le cadre du test d'identité que j'ai appliqué précédemment …

Production And Political Economy In The Animation Industry: Why Insourcing And Outsourcing Occur, Feichin, Ted Tschang, Andrea Goldstein

Research Collection Lee Kong Chian School Of Business

This paper presents a framework for explaining production patterns in creative industries. In particular, we focus on the conditions under which insourcing occurs in the US threedimensional animation industry and where outsourcing in the conventional two-dimensional animation industry occurs to the Philippines. The work that is outsourced is not the most creative component of the entire production process. Institutional decisions (as related to the location of decision makers and primary markets), and business conditions in the world market, have both positively and negatively affected the local Filipino industry and its position within the global division of labor. Implications for knowledge-based …

Multiple Testing To Establish Superiority/Equivalence Of A New Treatment Compared With K Standard Treatments For Unbalanced Designs, Koon Shing Kwong, Siu Hung Cheung, Wai-Sum Chan

Research Collection School Of Economics

In clinical studies, multiple superiority/equivalence testing procedures can be applied to classify a new treatment as superior, equivalent (same therapeutic effect), or inferior to each set of standard treatments. Previous stepwise approaches (Dunnett and Tamhane, 1997, Statistics in Medicine 16, 2489–2506; Kwong, 2001, Journal of Statistical Planning and Inference 97, 359–366) are only appropriate for balanced designs. Unfortunately, the construction of similar tests for unbalanced designs is far more complex, with two major difficulties: (i) the ordering of test statistics for superiority may not be the same as the ordering of test statistics for equivalence; and (ii) the correlation structure …

Expectations Formation And Forecasting Of Vehicle Demand: An Empirical Study Of The Vehicle Quota Auctions In Singapore, Sing-Fat Chu, Winston T. H. Koh, Yiu Kuen Tse

Research Collection School Of Economics

This paper studies the expectations formation and forecasting of vehicle demand in Singapore under the vehicle quota system. Under the system, a car buyer must first bid for a vehicle license in monthly auctions in order to purchase a new car. We construct an econometric model to test the hypothesis that past bid distributions of the license auctions contain information that car buyers can use to update their expectations about the intensity of market demand, forecast the license premiums and formulate their bidding strategies in future auctions. Our empirical analysis indicates that past bid distributions have a good degree of …

Expectations Formation And Forecasting Of Vehicle Demand: An Empirical Study Of The Vehicle Quota Auctions In Singapore, Sing-Fat Chu, Winston T. H. Koh, Yiu Kuen Tse

Research Collection School Of Economics

This paper studies expectations formation and forecasting of vehicle demand in Singapore under the vehicle quota system. Under the system, a car buyer must first bid for a vehicle license in monthly auctions in order to purchase a new car. We construct an econometric model to test the hypothesis that past bid distributions of the license auctions contain information that car buyers can use to update their expectations about the intensity of market demand, forecast license premiums and formulate their bidding strategies in future auctions. Our empirical analysis indicates that past bid distributions have a good degree of predictive power …

On Leverage In A Stochastic Volatility Model, Jun Yu

Research Collection School Of Economics

This paper is concerned with specification for modelling financial leverage effect in the context of stochastic volatility (SV) models. Two alternative specifications co-exist in the literature. One is the Euler approximation to the well known continuous time SV model with leverage effect and the other is the discrete time SV model of Jacquier, Polson and Rossi (2004, Journal of Econometrics, forthcoming). Using a Gaussian nonlinear state space form with uncorrelated measurement and transition errors, I show that it is easy to interpret the leverage effect in the conventional model whereas it is not clear how to obtain the leverage effect …

Foreign Trade And The Gender Earnings Differential In Urban Mexico, Gautam Hazarika, Rafael Otero

School of Economics and Finance Faculty Publications

This paper examines the effect of foreign trade induced product market competition, upon workplace gender discrimination in urban Mexico as measured by the gender earnings differential. More than 3 decades ago, Becker (1957) argued that labor market discrimination was economically inefficient in that discriminating firms must forego a quantity of profit. Thus, firms with more market power, i.e., firms facing less competition, may be likelier to discriminate. It therefore follows that competition in product markets may reduce discrimination in labor markets. The spread of foreign trade has traditionally been a major factor in increased product market competition. Hence, Becker's thesis …

New Mexico Labor Market Review 05-31-2004, 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 2004.

On Patent Licensing In Spatial Competition, Sougata Poddar, Uday Bhanu Sinha

Economics Faculty Articles and Research

We consider the issue of patent licensing in a linear city framework where firms are located at the end points of the city and compete in price. We consider three types of licensing arrangements, namely, auction, fixed fee, royalty; and focus on the optimal licensing strategy of an outsider patentee as well as an insider patentee. Contrary to the findings in the existing literature, first we show offering royalty is the best for the patentee when the patentee is an outsider for both drastic and non-drastic innovation. For insider patentee, offering no-license is the best when the innovation is drastic, …

Identity And Commitment: Sen's Conception Of The Individual, John B. Davis

Economics Faculty Research and Publications

This paper develops a conception of personal identity for Amartya Sen’s capability framework that emphasizes his self-scrutinizing aspect of the self and related concept of commitment, and compares this conception to the collective intentionality-based one advanced in Davis (2003c). The paper also distinguishes personal identity and social identity, and contrasts Sen’s framework with recent standard economics’ explanation of social identity in terms of conformity. Sen’s concept of commitment is examined in two formulations, and the later version is related to Bernard Williams’ thinking about identity-conferring commitments. The paper’s concludes by arguing that explaining personal identity as a special capability and …

Testimony Of H. Allan Hunt, Ph.D.: [Hearing On "Examining The Federal Employees' Compensation Act And Its Benefits For Workers"], H. Allan Hunt

Testimonies

No abstract provided.

Modern Bootlegging And The Prohibition On Fair Prices: Last Call For The Repeal Of Pharmaceutical Price Gouging, Luke W. Cleland

ExpressO

This article discusses the recent passage of the Medicare Prescription Drug, Modernization and Improvement Act of 2003, and the executive and judicial decisions affecting the ability of the general public to access foreign pharmaceutical markets. The article examines the recent actions taken by the U.S. government, explore various state movements within the United States aimed at reducing pharmaceutical drug prices, outline the process of pharmaceutical drug prices in foreign countries, and advocate for a workable integration of all available mechanisms to feasibly reduce prescription drug prices for the benefit of both U.S. consumers and U.S. drug companies. As avenues to …

Full Cost Pricing: An Approach To Internalize The Full-Cost Of A Gallon Of Unleaded Gasoline In The U.S And The Feasibility Of Markets Sustaining This Result, Joseph Mack

Honors Capstones

Capstone submitted as a graduation requirement for the BSU Honors Program.

Extraterritoriality Of The Sherman Act And Deterrence Of Private International Cartels, John M. Connor

ExpressO

This paper argues that the facts in the vitamins cartel support decisions in the 2nd and DC circuits to permit wholly foreign direct buyers of globally cartelized products standing to sue in U.S. courts. Such an interpretation of the Sherman Act is justified by conduct that is essentially linked to the management of successful international cartels, namely, the prevention of geographic arbitrage. This paper shows that the degree of injuries imposed on U.S. consumers could not have occurred were it not for coordinated price increases in countries with weak or nonexistent anticartel laws. Moreover, this paper endeavors to demonstrate that, …

Theoretical Mathematical Model Of Fishery Economics, Andre Garron

Honors Theses

The world population recently topped 6 billion people. Each person has the same need to eat, breathe, and drink. Unfortunately the world's limited resources imply a carrying capacity for the human race. As we approach this critical mass, the strain on our resources becomes increasingly severe. We have already begun to realize such disasters. Many of the world's fisheries have been destroyed, depleted to near nonexistence, or critically overfished. In some cases they only held on because the price of catching the final fish outweighed the potential revenue from catching it. This paper is an attempt to increase our understanding …

Respecting, Protecting And Fulfilling Economic And Social Rights: A Un Security Council?, William Felice

Human Rights & Human Welfare

Prepared for presentation at the 2004 International Studies Association Convention. Montreal Quebec, Canada. March 17 – 20, 2004.

Please do not cite this draft manuscript without permission from the author.

This paper may be freely circulated in electronic or hard copy provided it is not modified in any way, the rights of the author not infringed, and the paper is not quoted or cited without express permission of the author. The editors cannot guarantee a stable URL for any paper posted here, nor will they be responsible for notifying others if the URL is changed or the paper is taken …

Rhode Island Current Conditions Index -- May 2004, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

The Interplay Between Analytics And Computation In The Study Of Congestion Externalities: The Case Of The El Farol Problem, Eduardo Zambrano

Economics

In this paper I study the El Farol problem, a deterministic, boundedly rational, multi-agent model of a resource subject to congestion externalities that was initially studied computationally by Arthur (1994). I represent the interaction as a game, compute the set of Nash equilibria in mixed strategies of this game, and show analytically how the method of inductive inference employed by the agents in Arthur’s computer simulation leads the empirical distribution of aggregate attendance to be like those in the set of Nash equilibria of the game. This set contains only completely mixed strategy profiles, which explains why aggregate attendance appears …

The Medium-Term Aftermarket In High-Tech Ipos: Patterns And Implications, Sanjiv Jaggia, Satish Thosar

Economics

A number of theoretical models, loosely characterized under the rubric of behavioral finance, suggest that price convergence to value is far from instantaneous and possibly involves interplay between noise and informed traders. These models are motivated by documented anomalous patterns in equity markets and assume some form of psychological bias that affects investor behavior. With the benefit of hindsight it seems clear that the technology sector went through a bubble-like pattern in the late 1990s and that investor biases (if indeed they exist and can be inferred) may have been even more pronounced. Accordingly, our study focuses on the medium-term …

Food Stamp Program Participation Of Refugees And Immigrants, Christopher Bollinger, Paul Hagstrom

University of Kentucky Center for Poverty Research Discussion Paper Series

No abstract.

A Comparative Study Of Selected Measures Of Performance Of Organizations Before And After Obtaining Iso 9000 Certification As Compared To The S&P 500 Index, Gregory K. Arbuckle

All-Inclusive List of Electronic Theses and Dissertations

"One of the most significant changes in international business is the recent movement toward quality awareness. Although still embryonic, acceptance of the importance of quality and reliability is being recognized as a critical factor for the sale of many products and services in business operations and in performance worldwide" (Joubert, 1998, ,i 1 ). Over time, there have been many management systems developed to improve quality such as TQM, Malcolm Baldrige and Six Sigma; two of the largest and/or newest being ISO 9000 and QS 9000. The literature is unclear as to which systems actually work and which do not. …