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2005

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Articles 481 - 510 of 703

Full-Text Articles in Economics

Competition And Microfinance, Craig Mcintosh, Bruce Wydick Jan 2005

Competition And Microfinance, Craig Mcintosh, Bruce Wydick

Economics Faculty Publications

Competition between microfinance institutions (MFIs) in developing countries has increased dramatically in the last decade. We model the behavior of non-profit lenders, and show that their non-standard, client-maximizing objectives cause them to cross-subsidize within their pool of borrowers. Thus when competition eliminates rents on profitable borrowers, it is likely to yield a new equilibrium in which poor borrowers are worse off. As competition exacerbates asymmetric information problems over borrower indebtedness, the most impatient borrowers begin to obtain multiple loans, creating a negative externality that leads to less favorable equilibrium loan contracts for all borrowers.

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Small-Scale Biodiesel Production: A Feasibility Study, Isabel Call Jan 2005

Small-Scale Biodiesel Production: A Feasibility Study, Isabel Call

Honors Papers

The objective of the research presented in this paper is the development of cost curves for small-scale biodiesel production and a comparison of relevant technologies. The three technologies considered are the biodiesel pilot plant at the Iowa Energy Center's Biomass Energy Conversion Center, the commercially-sold Fuelmeister, and the bicycle-powered machine currently under development by students at Oberlin College. The price of biodiesel at which production via these technologies becomes profitable and the relative profitability of each will be determined through the use of a linear program. The importance of resource recovery and energy efficiency and the use of recycled feedstocks …

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Survival Analysis With Artificially Constructed Events, Sanjiv Jaggia, Satish Thosar Jan 2005

Survival Analysis With Artificially Constructed Events, Sanjiv Jaggia, Satish Thosar

Economics

One of the key elements of survival models is that they enable the researcher to determine whether the length of time an individual (or economic entity) spends in a particular state affects the probability of exiting that state. Natural applications in economics and finance include the analysis of unemployment spells, corporate bankruptcies and mortgage pre-payments. The distinguishing feature of most applications is the definitive event that marks the transition from the origin to the transition state. We believe that limiting the use of survival analysis to applications in which the event duration appears to be 'naturally' available is an unnecessary …

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"No Dogs Or Chinese Allowed": Globalization And China, Lawrence C. Reardon Jan 2005

"No Dogs Or Chinese Allowed": Globalization And China, Lawrence C. Reardon

The University Dialogue

No abstract provided.

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Retirement Plans, Attitudes, And Expectations Of Kansas Board Of Regents Faculty, Carl Parker, Bill Rickman, Rory Terry, Tom Johansen Jan 2005

Retirement Plans, Attitudes, And Expectations Of Kansas Board Of Regents Faculty, Carl Parker, Bill Rickman, Rory Terry, Tom Johansen

Fort Hays Studies Series

This data set enables the examination of investment choices of a mature group of faculty, where saving for retirement is a major investment objective. Consideration of future retirement-related policy proposals by universities should be evaluated with an understanding of the relative importance of economic and non-economic influences upon the retirement decision by university faculty.

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The Ethical, Governmental, And Economic Elements Of Secession, Fred Foldvary Jan 2005

The Ethical, Governmental, And Economic Elements Of Secession, Fred Foldvary

Faculty Publications

No abstract provided.

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An Early Mathematical Presentation Of Consumer’S Surplus, Yeung-Nan Shieh Jan 2005

An Early Mathematical Presentation Of Consumer’S Surplus, Yeung-Nan Shieh

Faculty Publications

No abstract provided.

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Indiana State University Financial Report 2005, Indiana State University Jan 2005

Indiana State University Financial Report 2005, Indiana State University

Financial Reports

No abstract provided.

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Immigrants And Their International Money Flows 2005-06, Western Michigan University Jan 2005

Immigrants And Their International Money Flows 2005-06, Western Michigan University

Werner Sichel Lecture Series

Workers' remittances, the repatriated earnings of immigrant workers, have captured the attention of policymakers and researchers. For a number of developing nations these inflows of funds are their largest source of foreign exchange earnings--exceeding official aid, direct foreign investment, and goods export earnings. Despite the fact that these inflows are large and are becoming larger, we know very little about either the determinants of international transfers or about their impacts on receiving economies. WMU's forty-second lecture-seminar series "Immigrants and Their International Money Flows," will address a myriad of issues relating to these growing international money transfers.

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An Efficient Mechanism To Control Correlated Externalities: Redistributive Transfers And The Coexistence Of Region And Global Pollution Permit Markets, Arthur J. Caplan, Emilson C.D. Silva Jan 2005

An Efficient Mechanism To Control Correlated Externalities: Redistributive Transfers And The Coexistence Of Region And Global Pollution Permit Markets, Arthur J. Caplan, Emilson C.D. Silva

Applied Economics Faculty Publications

We examine joint tradable permit markets as a self-enforcing mechanism to control correlated externality problems. By “correlated” we mean multiple pollutants that are jointly produced by a single source but which simultaneously cause differentiated regional and global externalities (e.g. smog and global warming). By “self-enforcing” we mean a mechanism that accounts for the endogeneity that exists between competing jurisdictions in the setting of environmental policy within a federation of regions. We find that joint domestic and international permit markets are Pareto efficient for a wide class of preferences.

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Momentum Investing: The Case Of High-Tech Ipos, Sanjiv Jaggia, Satish Thosar Jan 2005

Momentum Investing: The Case Of High-Tech Ipos, Sanjiv Jaggia, Satish Thosar

Economics

We document significant momentum effects in the high-tech IPO aftermarket beyond the initial (underpricing) run-up. Cumulative market-adjusted returns (CMARs) reveal a striking pattern. A local peak of just over 10 percent is reached around 20 trading days post-IPO coinciding with the expiry of the “quiet period”. A global peak (of about 33 percent) is reached after 105 trading days. The CMAR decays fairly rapidly thereafter possibly in anticipation of the expiry of the six-month lockup period. Further, we find strong evidence of a linkage between technical ex-ante observable variables and the momentum build-up. We conjecture that visceral factors may at …

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Mean Reversion And The Asset Allocation Decisions, Sanjiv Jaggia, Satish Thosar Jan 2005

Mean Reversion And The Asset Allocation Decisions, Sanjiv Jaggia, Satish Thosar

Economics

Until fairly recently the conventional wisdom in the finance academic community was that security prices follow a random walk. Some influential papers have uncovered evidence of mean reversion particularly over longer horizons. Siegel (1998) has suggested that given this evidence: "the holding period becomes a crucial issue when the data reveal the mean reversion of the stock returns." In this paper, we explore the pattern of mean reversion in post-World War ll U.S. stock returns and find that it peaks in a 4-year cycle. Given this empirical regularity we show that a buy-and-hold investment strategy, which is appropriate under a …

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Nova Southeastern University 2005 Annual Report, Nova Southeastern University Jan 2005

Nova Southeastern University 2005 Annual Report, Nova Southeastern University

NSU Annual Reports

No abstract provided.

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Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa Jan 2005

Sources Of Gender Difference In Rural To Urban Migration In Kenya: Does Human Capital Matter?, Richard U. Agesa, Jacqueline Agesa

Economics Faculty Research

Using data from Kenya this article estimates the urban to rural gender gap in the rate of migration and then decomposes the gap into the explained portion and the portion due to gender differences in coefficients. The former is further decomposed to unveil the relative influence of each explanatory variable on the explained portion of the gender gap in the rate of migration. A non-trivial finding suggests that human capital variables may exert the strongest influence on gender differences in migration, partially explaining the higher incidence of male migration.

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Evaluating The Written Work Of Others: One Way Economics Students Can Learn To Write, Harlan M. Smith Ii, Amy Broughton, Jaime Copley Jan 2005

Evaluating The Written Work Of Others: One Way Economics Students Can Learn To Write, Harlan M. Smith Ii, Amy Broughton, Jaime Copley

Economics Faculty Research

The authors present a series of writing assignments that teaches students how to evaluate and critique the written economic work of others. The foundation text is McCloskey’s (2000) Economical Writing. The students’ dialogues with McCloskey, with each other, and with the authors of the pieces they evaluate sharpen their understanding of, and ability to use, language as an instrument of economic thought. Interviews with former students identify specific benefits from the student perspective of this approach. The authors show how the assignment series can be modified in several ways and how the general approach, as well as the foundation text, …

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2005-1 The Contribution Of Post-Secondary Education To Human Capital Stocks In Canada And The United States, Audra J. Bowlus, Chris Robinson Jan 2005

2005-1 The Contribution Of Post-Secondary Education To Human Capital Stocks In Canada And The United States, Audra J. Bowlus, Chris Robinson

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.

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2005-5 Do Teachers Really Leave For Higher Paying Jobs In Alternative Occupations?, Benjamin Scafidi, David L. Sjoquist, Todd R. Stinebrickner Jan 2005

2005-5 Do Teachers Really Leave For Higher Paying Jobs In Alternative Occupations?, Benjamin Scafidi, David L. Sjoquist, Todd R. Stinebrickner

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.

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2005-4 What Can Be Learned About Peer Effects Using College Roommates? Evidence From New Survey Data And Students From Disadvantaged Backgrounds, Todd R. Stinebrickner, Ralph Stinebrickner Jan 2005

2005-4 What Can Be Learned About Peer Effects Using College Roommates? Evidence From New Survey Data And Students From Disadvantaged Backgrounds, Todd R. Stinebrickner, Ralph Stinebrickner

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.

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2005-3 Race, Poverty, And Teacher Mobility, Benjamin Scafidi, David L. Sjoquist, Todd R. Stinebrickner Jan 2005

2005-3 Race, Poverty, And Teacher Mobility, Benjamin Scafidi, David L. Sjoquist, Todd R. Stinebrickner

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.

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2005-2 Human Capital, Productivity And Growth, Audra J. Bowlus, Haoming Liu, Chris Robinson Jan 2005

2005-2 Human Capital, Productivity And Growth, Audra J. Bowlus, Haoming Liu, Chris Robinson

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.

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2005-01 The Public Role In Provision Of Scientific Information: An Economic Approach, James B. Davies, Al Slivinski Jan 2005

2005-01 The Public Role In Provision Of Scientific Information: An Economic Approach, James B. Davies, Al Slivinski

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-02 Keynes And The Birth Of Modern Macroeconomics, David Laidler Jan 2005

2005-02 Keynes And The Birth Of Modern Macroeconomics, David Laidler

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-03 Addressing Systemic Issues In The Wto: Lessons From The Singapore Issues, Erick Duchesne Jan 2005

2005-03 Addressing Systemic Issues In The Wto: Lessons From The Singapore Issues, Erick Duchesne

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-04 Free Banking And The Bank Of Canada, David Laidler Jan 2005

2005-04 Free Banking And The Bank Of Canada, David Laidler

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-05 Elimination Of The Foreign Property Rule On Tax Deferred Savings Plans, Joel Fried Jan 2005

2005-05 Elimination Of The Foreign Property Rule On Tax Deferred Savings Plans, Joel Fried

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-06 Pots And Kettles: Governance Practices Of The Ontario Securities Commission, Joel Fried Jan 2005

2005-06 Pots And Kettles: Governance Practices Of The Ontario Securities Commission, Joel Fried

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-07 Does The Use Of Imported Intermediates Increase Productivity? Plant-Level Evidence, Hiroyuki Kasahara, Joel Rodrigue Jan 2005

2005-07 Does The Use Of Imported Intermediates Increase Productivity? Plant-Level Evidence, Hiroyuki Kasahara, Joel Rodrigue

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-08 Monetary Policy And Its Theoretical Foundations, David Laidler Jan 2005

2005-08 Monetary Policy And Its Theoretical Foundations, David Laidler

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-09 Who Cares About Mortgage Interest Deductibility?, Martin Gervais, Manish Pandey Jan 2005

2005-09 Who Cares About Mortgage Interest Deductibility?, Martin Gervais, Manish Pandey

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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2005-11 Milton Friedman And The Evolution Of Macroeconomics, David Laidler Jan 2005

2005-11 Milton Friedman And The Evolution Of Macroeconomics, David Laidler

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

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