Economics Commons^™

Recent Defined Benefit Pension Reform: Reasons And Results, Daniel B. Klaff

ExpressO

In the face of corporate bankruptcies, the Pension Benefit Guaranty Corporation (“PBGC”) assures workers that their defined benefit pensions will be protected. It is this fact which has motivated recent reform of the PBGC and the overarching defined benefit plan system by Congress. This paper explores those reforms by addressing the reasons for and results of the most recent reform which had as its primary aim restoring the fiscal solvency of the PBGC. The paper challenges popular accounts of the reform process while examining the results of such reform for important stakeholders without resorting to an overly technical discussion of …

The "Benefits" Of Non-Delegation: Using The Non-Delegation Doctrine To Bring More Rigor To Benefit-Cost Analysis, Victor B. Flatt

ExpressO

This article examines the problems of benefit-cost (or cost-benefit) analysis in our regulatory system and posits that a more nuanced version of the “non-delegation” doctrine (made famous in Schechter Poultry) could improve many of the problems associated with the use of benefit-cost analysis. In particular this article notes that many of the problems with benefit-cost analysis are its use by agencies to make large policy decisions, which could be characterized as legislative. The article also notes that though the “non-delegation” doctrine may appear to be dead or dormant, that a form of it, in separation of powers doctrine, exists in …

Official Representations Of The Nation: Comparing The Postage Stamps Of Sudan And Burkina Faso, Michael Kevane

Economics

An analysis of the imagery on postage stamps suggests that regimes in Burkina Faso and Sudan have pursued very different strategies in representing the nation. Sudan's stamps focus on the political center and dominant elite (current regime, Khartoum politicians, and Arab and Islamic identity) while Burkina Faso's stamps focus on society (artists, multiple ethnic groups, and development). Sudan's stamps build an image of the nation as being about the northern-dominated regime in Khartoum (whether military or parliamentary); Burkina Faso's stamps project an image of the nation as multi-ethnic and development-oriented.

Justice On The Job: Perspectives On The Erosion Of Collective Bargaining In The United States, Richard N. Block Editor, Sheldon Friedman Editor, Michelle Kaminski Editor, Andy Levin Editor

Upjohn Press

This volume presents an influential group of researchers who examine the current state of workers’ freedom to form unions and bargain collectively. All of the researchers present empirical evidence to support their innovative ideas for advancing workers' rights.

Revitalizing Our Urban Core Without Marginalizing Our Core People: Closing Tax Credit Loopholes For The Wealthy While Generating Ethnic Entrepreneurial Self Help Alternatives To Subsidized Gentrification, Roger M. Groves

ExpressO

This article provides the most comprehensive analysis to date of the New Markets Tax Credits program established by Congress. The purpose of the NMTCs is to use tax credits as incentives for investors to provide equity funds into low income areas. The article reveals that over $2 billion of federal tax subsidies that have been allocated to gentrified projects for the wealthy, rather than the intended beneficiaries – low income residents in the urban core – as Congress intended. The article proposes amendments to the statute and regulations to close unintended loopholes.

The article also creates a model for a …

Financial Accounting And Corporate Behavior, David I. Walker

ExpressO

The power of financial accounting to shape corporate behavior is underappreciated. Positive accounting theory teaches that even cosmetic changes in reported earnings can affect share value, not because market participants are unable to see through such changes to the underlying fundamentals, but because of implicit or explicit contracts that are based on reported earnings and transaction costs. However, agency theory suggests that accounting choices and corporate responses to accounting standard changes will not necessarily be those that maximize share value. For a number of reasons, including the fact that executive compensation often is tied to reported earnings, managerial preferences for …

Hurricane Damage To The Ocean, Charles S. Colgan, Jefferey Adkins

Publications

In 2005, insured losses from hurricanes and other catastrophes were greater than in any other year in U.S. history. NOAA’s National Hurricane Center estimates that $85 billion of total damages resulted from Hurricanes Katrina and Rita alone. One year later, the region affected by these two hurricanes still struggles to recover, both as a place to live and as a viable economy. Using data from the BLS Quarterly Census of Employment and Wages, the National Ocean Economics Program has developed a data series that allows the economic damage to coastal regions to be seen in a new light: what happens …

Assessing The Forecasting Accuracy Of Alternative Nominal Exchange Rate Models: The Case Of Long Memory, David Karemera, Benjamin J. C. Kim

Department of Economics: Faculty Publications

This paper presents an autoregressive fractionally integrated moving-average (ARFIMA) model of nominal exchange rates and compares its forecasting capability with the monetary structural models and the random walk model. Monthly observations are used for Canada, France, Germany, Italy, Japan, and the United Kingdom for the period of April 1973 through December 1998. The estimation method is Sowell’s (1992) exact maximum likelihood estimation. The forecasting accuracy of the long-memory model is formally compared to the random walk and the monetary models, using the recently developed Harvey, Leybourne, and Newbold (1997) test statistics. The results show that the long memory model is …

The U.S. Tax System In International Perspective, John E. Anderson, Council Of Economic Advisers

Department of Economics: Faculty Publications

All governments face two important decisions. They must choose the scope and scale of public goods and services to provide for their citizens, and they must also decide how to collect the funds to finance those public services. Chapter 5, The U.S. Tax System in International Perspective, examines U.S. choices in the context of other countries. It makes three key points:

• Fundamental choices about tax systems matter because they affect the living standards of citizens.

• The United States has made different choices from other countries. The United States has a relatively low tax burden compared to the rest …

Michigan's Economic Competitiveness And Public Policy, Timothy J. Bartik, George A. Erickcek, Wei-Jang Huang, Brad R. Watts

Reports

No abstract provided.

Copyright Distributive Injustice, Daniel Benoliel

ExpressO

By design, copyright is a legal field that is not distinctively designed for redistribution. And yet, numerous fairness scholars and other critics of the economics paradigm quite markedly argue that copyright law should be based upon some measure of distribution, not efficiency.

This essay argues that copyright law should not promote distributive justice concerns, subject to narrow exceptions and that other more efficient law such as taxation and welfare laws should do that instead. It does so in accordance to the prevailing welfare economics interpretative approach to copyright jurisprudence, with emphasis on the latest Peer-to-Peer (P2P) file sharing litigation.

It …

Mansfield Ct: Planning A New Village Center, Maggie Jones, Richard Barringer

Planning

The case follows the development of a plan for a new village center in Storrs, the central village of Mansfield, Connecticut. A process that was transparent and inclusive of the community members yielded a plan that gained the approval of the Town, the landowner (the University of Connecticut), and the citizenry. The process relied on the mending of fences, the leadership of key participants, and an innovative strategy that included development of a nonprofit corporation and creative use of grant money. While zoning changes are still in the works, the first stage of building goes forward.

South Kingstown Ri: New Zoning For An Historic Mill, Maggie Jones, Richard Barringer

Planning

The village of Peace Dale in the town of South Kingstown, Rhode Island, developed around several mills that commenced operations in the 1800s. One mill, known as the Palisades, is still partially active and in excellent condition, but much of its square footage is unutilized. A citizens’ group of artists and business people joined with the mill owners and the town of South Kingstown to develop new zoning regulations to make more flexible the permitted uses for the mill site. The proposed zoning will allow the mill complex to feature a mix of retail, residential, and manufacturing uses, while preserving …

Action Summit For The Advancement Of Capital Access To Entrepreneurs With Disabilities, Nancy Arnold Ph.D., Patti Lind, University Of Montana Rural Institute

Employment

Self-employment has several advantages for an individual with a disability, such as the flexibility to accommodate the person's disability, social and economic empowerment, and a non-discriminatory employment environment. However, without access to capital, these strengths cannot be realized. The Action Summer for the Advancement of Capital Access to Entrepreneurs with Disabilities (Capital Access Summit) facilitated the development of strategies and collaborations to promote access to capital for business owners with disabilities. The Capital Access Summit gathered 50 representatives from across the country to identify cross-cutting issues and make recommendations for promoting continued progress in self-employment of people with disability. Participants …

Rhode Island Current Conditions Index -- August 2006, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

The Effects Of Avian Influenza Outbreak On U.S. Poultry Prices, Shang-Ho Yang

Masters Theses & Specialist Projects

Even in the absence of proven human-to-human transmission of the disease, the uncertainty surrounding bird flu could devastate regional economic growth and financial markets. Confirmed cases of human infection from several subtypes of avian influenza infection have been reported since 1997. According to WHO (World Health Organization), experts indicate that there is a possible risk of infection to people who have contact with infected birds or surfaces that have been contaminated with secretions or excretions from infected birds during an outbreak of avian influenza among poultry. On May 8, 2006, WHO reported on 207 cases that resulted in 115 people's …

Rivalry In Price And Variety Among Supermarket Retailers, Timothy J. Richards, Stephen F. Hamilton

Economics

Recent theoretical models of retail competition suggest that product heterogeneity is critical to retail price and variety strategies. This article provides empirical evidence on supermarket retailers' price and variety strategies using a nested constant elasticity of substitution (NCES) modeling framework. The model is estimated using chain-level scanner data for four major grocery chains in a large, urban West Coast market. The results show that retailers compete for market share using both price and variety. While they all tend to follow moderately cooperative pricing strategies, the extent to which they follow cooperative strategies in variety is less homogeneous.

Environmental Contamination And House Values: A Study Of Market Adjustment, Katherine Kiel

Economics Department Working Papers

In many communities throughout the United States, contaminated sites are identified and addressed by the Environmental Protection Agency (EPA). In each of these communities, the EPA presents a plan of action and provides the community with information about progress being made. Does the housing market adjust quickly after announcements by EPA concerning the existence and toxicity of Superfund sites? Other studies have shown that the levels of house prices fall when people suspect there is a problem, and again when the EPA announces that the site is toxic (e.g. Kiel, 1995), but how can we tell when or if the …

Upper Rio Grande Workforce Development Board Industry Cluster Analysis, Mathew Mcelroy, Carlos Olmedo, Ed Feser, Ken Poole

IPED Technical Reports

No abstract provided.

Factors Affecting Income Among Men And Women Psychologists, John Christian

All-Inclusive List of Electronic Theses and Dissertations

Income differences between men and women psychologists in independent practice have long been noted. Some have suggested that the differences result from the traditional gender roles in household responsibilities and/or gender differences in career decisions have resulted in men and women pursuing different career paths and making different practice decisions that lead to differing incomes. Others explanations regarding income differences suggest that men work more, charge more, and adapt more efficient practice models that reduce overhead. However, no studies have investigated these hypotheses in relation to the practice patterns of independent practitioners. The current study investigated several hypotheses about factors …

Sun Metro Fixed Route Rider Survey, Dennis L. Soden, Mathew Mcelroy, Susanne Green

IPED Technical Reports

No abstract provided.

College Students And Gambling: Gauging The Effects Of Gender On Impulse Control, Sensation Seeking, And Mental Health As Predictors Of Involvement, Terry D. Burger

All-Inclusive List of Electronic Theses and Dissertations

The main purpose of the current study was to enhance the global understanding of adolescent Internet gambling involvement by examining rates of participation and the influence of impulse control, sensation seeking, and mental health problems as predictors of involvement. In addition to a demographic survey to gather information including year in school, age, gender, mode of gambling participation (online vs. traditional venues), age gambling participation began (for both non-Internet and Internet modes), disposable income, and hours spent online each week, the current research study questionnaire was comprised of a three standardized instruments: {a) the South Oaks Gambling Screen (SOGS); (b) …

Common Learning, Martin W. Cripps, Jeffrey C. Ely, George J. Mailath, Larry Samuelson

Cowles Foundation Discussion Papers

Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily across agents. We show that that when each agent’s signal space is finite, the agents will commonly learn its value, i.e., that the true value of the parameter will become approximate common-knowledge. In contrast, if the agents’ observations come from a countably infinite signal space, then this contraction mapping property fails. We show by example that common learning can fail in this case.

Common Learning, Martin W. Cripps, Jeffrey C. Ely, George J. Mailath, Larry Samuelson

Cowles Foundation Discussion Papers

Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily agents. Does it follow that the agents will commonly learn its value, i.e., that the true value of the parameter will become (approximate) common-knowledge? We show that the answer is affirmative when each agent’s signal space is finite and show by example that common learning can fail when observations come from a countably infinite signal space.

Pareto Improving Taxes, John Geanakoplos, Heracles M. Polemarchakis

Cowles Foundation Discussion Papers

We show that in almost every economy with separable externalities, every competitive equilibrium can be Pareto improved by a package of anonymous commodity taxes that cause prices to adjust and markets to reclear at different levels of individual consumption. The argument can be extended to economies with strategic interactions, incomplete asset markets or asymmetric information. This constrained suboptimality of competitive allocations might provide a rationale for economic policy in economies with externalities.

A Tale Of Two Stadiums: Comparing The Economic Impact Of Chicago’S Wrigley Field And U.S. Cellular Field, Victor Matheson, Robert Baade, Mimi Nikolova

Economics Department Working Papers

Supporters of sports stadium construction often defend taxpayer subsidies for stadiums by suggesting that sports infrastructure can serve as an anchor for local economic redevelopment. Have such promises of economic rejuvenation been realized? The City of Chicago provides an interesting case study on how a new stadium, U. S. Cellular Field, has been integrated into its southside neighborhood in a way that may well have limited local economic activity. This economic outcome stands in stark contrast to Wrigley Field in northern Chicago which continues to experience a synergistic commercial relationship with its neighborhood.

Ireland: The Recurring Economic Miracle?, Mary Joy Crisafulli

Honors College Theses

Ireland is enjoying a tremendous economic success. Is this success based solely on favorable corporate taxation policies? What is the effect of Ireland's success and its taxation policies on the other EU nations? Ireland presents a model for economic growth and prosperity to be followed not only by the recent accession nations, but by the older EU member nations in an attempt to reform their socioeconomic context.

Impact Of India's Economic Growth And The Changes Within Its Food Retail Landscape, Sunil Sharma

Honors College Theses

No abstract provided.

Metropolitan Report - August 2006, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

Small Education Experiments Do Not Shed Much Light On Large Education Reforms, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.