Economics Commons^™

Inflation, Theory, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Taft, T. Y. & Navot, E. (2005). Inflation in the United States: 1945-2004: Testing the Phillips curve and the throughput theory, and the political economy of inflation [Unpublished manuscript]. Graduate Faculty of Political and Social Science, New School University.
• Shaikh, A. (2005, November). Throughput and savings rates [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Stancity, C. & Parra, M. A. (2005, November 18). Inflation in Japan [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Palladino, L. & Mahoney, M. (2005, November 18). Inflation in Italy [Unpublished manuscript]. Department of Economics, New School …

Inflation, Phillips Curve, Asial, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2005, April 27). Inflation theory [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Phillips curve: US, 1960-2003 [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Inflation vs. change in unemployment rate [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2003). Phillips-curve type inflation vs. thruput [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2005, April 23). US thru put 1A.wf1 [Unpublished manuscript]. Department of Economics, New School for Social Research.
• Shaikh, A. (2005). Macroeconomic identities and monetary …

Empirical Investment Functions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1990, August). Empirical investment functions [Handwritten notes]. Unpublished manuscript.

• Shaikh, A. (2005, June 12). ECM regression output for LNYJPN, 1969–2000 [Regression output]. Unpublished manuscript.

• Shaikh, A. (2005, June 12). ADL regression output for LNYJPN, 1969–2000 [Regression output]. Unpublished manuscript.

• Shaikh, A. (1990, August 15). Empirical fixed investment functions [Handwritten notes discussing expectation models and empirical results for U.S. manufacturing]. Unpublished manuscript.

• Shaikh, A. (1990, August 10). gk vs. u for manufacturing, 1926–1985 [Graph]. Unpublished manuscript.

• Shaikh, A. (1990, August 11). gk (scaled) vs. Ut for manufacturing [Graph]. Unpublished manuscript.

• Shaikh, A. (1990, August 7). Empirical …

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Post-Election Economics & Other Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A., PhD. (2004, December 3). Post-election economics. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Borrowing behavior and debt service [Handwritten draft notes]. Unpublished manuscript.

• Becker, E. (2004, October 14). Nordic countries come out near the top in two business surveys. The New York Times. Publisher details not identified.

• Shaikh, A., PhD. (2004, November 10). Post-election economics [Annotated draft]. Unpublished manuscript.

• Shaikh, A., PhD. (2004, November 3). Eco implications of election [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (2004, November 3). Comments & discussion [Handwritten notes]. Unpublished manuscript.

• Shaikh, A., PhD. (n.d.). Macroeconomic notes on sectors and equations …

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Tech Changes + Choice Of Technique, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Hecht, J. (2001, July). Classical labour-displacing technological change: The case of the U.S. insurance industry. Cambridge Journal of Economics. Publisher details not identified.

• Shaikh, A. (2000, July 25). Pure mechanization (N → 0) [Handwritten notes discussing one-sector models, Harrod-neutral technical change, and choice of technique]. Unpublished manuscript.

• Shaikh, A. (2003, August 25). Choice of technique & viability condition [Handwritten notes discussing micro and macro levels, Nakatani on expected real wage, and profit rates]. Unpublished manuscript.

• Eltis, W. (1984). The classical theory of economic growth [Pages including the section “A demonstration of the tendency of the rate …

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(Wp 2005-02) Social Identity Strategies In Recent Economics, John B. Davis

Economics Working Papers

This paper reviews three distinct strategies in recent economics for using the concept of social identity in the explanation of individual behavior: Akerlof and Kranton’s neoclassical approach, Sen’s commitment approach, and Kirman et al.’s complexity approach. The primary focus is the multiple selves problem and the difficulties associated with failing to explain social identity and personal identity together. The argument of the paper is that too narrow a scope for reflexivity in individual decision making renders the problem intractable, but that enlarging this scope makes it possible to explain personal and social identity together in connection with an individual behavior …

Financing Strategies Of The R & D Firm, Lawrence Fogelberg, John M, Griffith

Finance Faculty Publications

This paper investigates the financing strategies of the R&D firm. Our hypotheses are based on Cho's (1992) game theory model where the firm develops a product but needs additional financing to bring it to market. The model generates a particularly rich set of hypotheses: 1) to fund the completion of its project and bring its product to market, the firm initiates negotiations with an established firm; 2) the majority of the acquisitions will be partial cash acquisitions through private secondary offerings. Confirming the model's hypotheses, we find that the majority of the acquisitions are partial cash acquisitions by significantly larger …

Montana Travel Research: 2005, Norma P. Nickerson, James Wilton, Melissa Bruns-Dubois

Institute for Tourism and Recreation Research Publications

Outlook for 2005 and Review of 2004.

Banking Sector Reforms In Pakistan, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Why did we need reforms in the banking sector in the first place? Why is it so important to have healthy and buoyant banks? What is the exact role of State Bank of Pakistan and how does it go about performing this role? Where does the Government come in this picture? How do these reforms serve the interests of a common citizen as a consumer, depositor, and businessman? These and a host of other questions arise in the minds of a layman who is not so familiar with all the jargon and specialized terminology of finances.

Paper On Foley's Circuit Of Capital, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Abeles, M. (2005). Duncan Foley's circuit of capital model for an open economy (Unpublished manuscript) (pp. 2, 35).

Folder On Inflation - 2, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Notes on John Fullarton's On the Regulation of the Currencies of the Bank of England [Handwritten reading notes on currency regulation, forced currency, the Bank Act, international exchange, and bank notes]. (n.d.).
• Rudd, J., & Whelan, K. (2005, September 9). Modelling inflation dynamics: A critical survey of recent research [Annotated conference paper surveying rational-expectations, New Keynesian, hybrid, and other inflation models].
• Shaikh, A. (2003, November 24). Growth and money supply [Typed technical note on gold-sector money creation, government money printing, deficits, debt, and central-bank financing].
• Harberger, A. C. (1988). World inflation revisited [Annotated book-chapter excerpt analyzing chronic …

Folder On Inflation - 3 (Money And Gold), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Notes to Ernest on "Marx's Theory of Value and the Transformation Problem" [Twelve-page handwritten response discussing gold as money, profit-rate equalization, prices, and the transformation problem]. (1981, June).
• Shaikh, A. (1996, February 23). Regulation of Price Level by Gold Sector [Two-page unpublished memorandum explaining how gold-sector profitability and marginal mining validate, rather than regulate, the general price level].
• Shaikh, A. Comments to Alfredo on the role of gold [Typed note distinguishing commodity money's role in international circulation from claims that gold directly determines the price level]. (n.d.).
• Cumulative expenditure gap of inflation [Handwritten one-page derivation of investment …

Folder On Inflation - 1, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Figure 1: Inflation rate vs. beta [Statistical chart comparing inflation with changes in bank credit to the public sector as a share of GDP]. (n.d.).
• U.S. and Argentina: Credit growth and real-output growth [Chart packet comparing credit growth with real-output growth in the United States and Argentina]. (n.d.).
• Shaikh, A. (2006, March 16). ECMs with non-stationary variables [Four-page annotated technical note on long-run relations, stationarity, and error-correction models].
• Draft class: IFS data and ARDL/ECM strategy [Five-page handwritten notes on IFS variables, structural breaks, long-run estimation, and model selection]. (2006, October 2).
• IFS data definitions and model specification …

Living Wages And The Retention Of Homecare Workers In San Francisco, Candace Howes

Economics Faculty Publications

This study records the impact on workforce retention of the nearly doubling of wages for homecare workers in San Francisco County over a 52-month period. Using descriptive statistics and logistic regression analysis I find that the annual retention rate of new providers rose from 39 percent to 74 percent following significant wage and benefit increases and that a $1 increase in the wage rate from $8 an hour – the national average wage for homecare – would increase retention by 17 percentage points. I also show that adding health insurance increases the retention rate by 21 percentage points.

Pricing In The New Economy: Lessons From The Period Of The E-Commerce Bubble, Phillip J. Bryson

Faculty Publications

The New Economy increased U.S. productivity sharply after 1995. The latest economics literature on the topic, which generally forecasts a secure future for the information economy, is reviewed. The down side of the New Economy were the strategies, especially the pricing strategies of NASDAQ and virtual firms. The critique of Michael Porter regarding the non-strategic price cutting common to those firms is reviewed. Traditional models by Sweezy and Baumol, which focus on pricing in imperfectly competitive industries, are applied to provide a cogent theory as to why those firms made mistakes that were once viewed as common for neophyte industries.

Risk Properties Of A Stein-Like Estimator For Multinomial Choice Models, Vera Alexandrova Tabakova

LSU Doctoral Dissertations

Stein-rule estimators, also known as shrinkage estimators, combine sample and non-sample information in a way that improves the precision of the estimation process or the quality of subsequent predictions. A Stein-rule estimator is a weighted average of a restricted and an unrestricted estimator, where the weights determine the degree of shrinkage, i.e. the importance that we place on the non-sample information. The existing literature shows that Stein-rule estimators may lead to squared error risk improvements in the linear regression, and in a number of non-linear models. The dissertation explores Stein-rule estimation in the context of multinomial choice models. It consists …

Health And Growth, Petia Stoianova Stoytcheva

LSU Doctoral Dissertations

Inarguably the most important question is about the unequal distribution of income among countries. Development economists have recently turned to health for an answer. This dissertation investigates the e®ect of health on cross-country income. The first essay sheds new light on the impact of AIDS on cross-country income levels. We control for a variety of factors that are potentially related to income as suggested by our empirical model and existing related literature. Using the extended (for human capital) Solow model as our baseline empirical specification, we consider cross-sectional and panel estimation. For the full sample it is shown that AIDS …

Do Temporary Help Jobs Improve Labor Market Outcomes For Low-Skilled Workers? Evidence From Random Assignments, David H. Autor, Susan N. Houseman

Upjohn Institute Working Papers

A disproportionate share of low-skilled U.S. workers is employed by temporary help firms. These firms offer rapid entry into paid employment, but temporary help jobs are typically brief and it is unknown whether they foster longer-term employment. We draw upon an unusual, large-scale policy experiment in the state of Michigan to evaluate whether holding temporary help jobs facilitates labor market advancement for low-skilled workers. To identify these effects, we exploit the random assignment of welfare-to-work clients across numerous welfare service providers in a major metropolitan area. These providers feature substantially different placement rates at temporary help jobs but offer otherwise …

Health, Wealth And Workforce Exit: Disability Insurance And Individual Accounts, Jason S. Seligman

Upjohn Institute Working Papers

Current debate on the Social Security Administrations long-term finance of benefits includes proposals for independent private investment via individual accounts. The author first investigates what implications disability might have for equity savings account balances. In light of results, incentives to exit the workforce ahead of retirement age are considered when a defined benefit program for disability insurance continues to be available. Included simulation uses historic wage series, equity market performance, and current OASDI regulations for cohorts retiring over the period of 1929 - 2003.

A Subjective Approach To The Study Of Oligopolistic Party Systems, Riccardo Pelizzo

Research Collection School of Social Sciences

The purpose of this paper is to present a new theory of the cartel party. My argument is straightforward. Assuming that parties are the political analog of firms, that party systems are the political analog of markets, that the shares of the electorate are the political analog of the market shares that firms control, Western European party systems share with oligopolistic markets some structural features. Yet, to know whether Western European party systems resemble oligopolistic markets, we need to know whether Western European party systems are non-competitive political markets exactly in the same way in which oligopolistic markets are not …

Comment: A Selective Overview Of Nonparametric Methods In Financial Econometrics, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

These comments concentrate on two issues arising from Fan’s overview. The first concerns the importance of finite sample estimation bias relative to the specification and discretization biases that are emphasized in Fan’s discussion. Past research and simulations given here both reveal that finite sample effects can be more important than the other two effects when judged from either statistical or economic viewpoints. Second, we draw attention to a very different nonparametric technique that is based on computing an empirical version of the quadratic variation process. This technique is not mentioned by Fan but has many advantages and has accordingly attracted …

Analysis Of Job-Training Effects On Korean Women, Myoung-Jae Lee, S. J. Lee

Research Collection School Of Economics

We analyse job-training effects on Korean women for the period January 1999 to March 2000, using a large data set of size about 52,000. We employ a number of estimation techniques: Weibull MLE and accelerated failure time approach, which are both parametric; Cox partial likelihood estimator, which is semiparametric; and two pair-matching estimators, which are in essence nonparametric. All of these methods gave the common conclusion that job training for Korean women increased their unemployment duration. The trainings were not cost-effective in the sense that they took too much time 'locking in' the trainees during the training span, compared with …

An Analytical Framework Of Science Parks And Technology Districts With An Application To Singapore, Francis Koh, Winston T. H. Koh, Ted Feichin Tschang

Research Collection School Of Economics

This paper analyzes the question: What does it take for science parks and technology districts to evolve and grow? We propose an analytical framework to examine the gestation, evolution, and sustainability of science parks and related but broader regional phenomena such as technology districts. The framework comprises three aspects of a science park's development: growth mechanisms, level of technological capabilities, and nature of its integration with national or global markets. The main growth mechanisms we identify are government-led infrastructure provision, agglomeration effects, and continual self-renewal through the creation of new businesses. We apply this framework to analyze Singapore's science park …

Bank Lending And Real Estate In Asia: Market Optimism And Asset Bubbles, Winston T. H. Koh, Roberto S. Mariano, Andrey Pavlov, Sock-Yong Phang, Augustine H. H. Tan, Susan M. Wachter

Research Collection School Of Economics

This paper investigates the Asian real estate price run-up and collapse in the 1990s. We identify financial intermediaries’ underpricing of the put option imbedded in non-recourse mortgage loans as a potential cause for the observed price behavior. This underpricing is due to behavioral causes (lender optimism and disaster myopia) and/or rational response of lenders to market incentives (agency conflicts, deposit insurance, or limited liability of bank shareholders). The empirical evidence suggests that underpricing occurred in Thailand, Malaysia, and Indonesia. Consequently, these countries experienced a more severe market crash than Hong Kong and Singapore, where underpricing was kept under control by …

Simultaneous Equations In Ordered Discrete Responses With Regressor-Dependent Thresholds, Myoung-Jae Lee, A. Kimhi

Research Collection School Of Economics

The parameters of ordered discrete response (ODR) models are identified only up to a positive scale. In this paper, we examine the identification issue for simultaneous equations with ODR, where the well-known identification problem in simultaneous equations of recovering structural-form parameters from reduced-form parameters is compounded with the ODR identification problem. We allow the thresholds in ODR to be regressor dependent as well as constant; the former is particularly challenging because threshold parameters get mixed with regression parameters, adding one more dimension to the identification problem. We also explore a cross-equation restriction on threshold differences, under which the structural form …

Future Job Prospects In Singapore, Hian Teck Hoon

Research Collection School Of Economics

No abstract provided.

Future Job Prospects In Singapore, Hian Teck Hoon

Research Collection School Of Economics

What forces have shaped our nation’s employment and remuneration record so far? Where is Singapore’s unemployment rate headed? What should policy-makers do about it? These are the questions tackled in this paper.

Education, Technological Progress And Economic Growth, Winston T. H. Koh, Hing-Man Leung

Research Collection School Of Economics

An important role of education – and the resultant accumulation of human capital – for a less-developed economy is to facilitate technology diffusion in order for it to catch up with developed economies. This paper presents a model linking education, the accumulation of physical capital and technological progress. In the model, investment in education and the accumulation of physical capital are complementary, and intertwine with the technology progress through related effects on technology diffusion and the expansion of the technology frontier. The allocation of effort to education, the optimal savings rate and the technology gap are endogenously determined in the …

The Micro-Foundations Of Intertemporal Price Discrimination, Winston T. H. Koh

Research Collection School Of Economics

This paper investigates the optimality of intertemporal price discrimination for a durable-good monopoly in a model where infinitely-lived households face an intertemporal budget constraint, and consume both durable goods and non-durable goods. We prove that the optimal price of the durable good is not constant, and may decrease or increase over time. Some households may choose to purchase the durable good at a later date, and pay lower or higher prices, since the gain in discounted utility of consuming more of the non-durable good more than compensates for the loss in utility from delaying the consumption of the durable good.

Reform Of Imf Conditionality - A Proposal For Self-Imposed Conditionality, Ofer Eldar

Faculty Scholarship

The IMF has faced criticism of its expansive use of conditionality. The paper proposes a new procedure for IMF lending designed to meet these criticisms by arguing for the legalization and formalization of the procedure for IMF lending in the light of legal concepts derived mainly from national administrative laws. The gist of the procedure is that, rather than have the IMF determine loan conditions following informal negotiations with member countries, countries seeking Fund assistance will design the conditions themselves. The IMF will have specified powers under which to review these conditions. Apart from other procedural requirements, conditions will have …