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2006

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Articles 841 - 868 of 868

Full-Text Articles in Economics

Employment And Wage Effects Of Privatization: Evidence From Transition Economies, John S. Earle Jan 2006

Employment And Wage Effects Of Privatization: Evidence From Transition Economies, John S. Earle

Employment Research Newsletter

No abstract provided.

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The Earned Income Tax Credit, Taxes, And Food Stamps: Their Effects On Minimum Wage Workers By State, Aaron William Popp Jan 2006

The Earned Income Tax Credit, Taxes, And Food Stamps: Their Effects On Minimum Wage Workers By State, Aaron William Popp

Honors Program Theses

The federal government spends billions of dollars annually on programs to lift low income workers out of poverty, but the money is not necessarily efficiently spent. If the benefits provided by the government provide a work incentive, then to increase the income of a worker by $1 requires more than $1 in government funds. Some programs, however, do provide an incentive for people to work. Given the complexity of the federal bureaucracy, few people have tried to compute the income that minimum wage workers would expect to earn given a set of government benefits that they receive and a number …

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Essays On The Bayesian Estimation Of Stochastic Cost Frontier, Xia Zhao Jan 2006

Essays On The Bayesian Estimation Of Stochastic Cost Frontier, Xia Zhao

LSU Doctoral Dissertations

This dissertation consists of three essays that focus on a Bayesian estimation of stochastic cost frontiers for electric generation plants. This research gives insight into the changing development of the electric generation market and could serve to inform both private investment and public policy decisions. The main contributions to the growing literature on stochastic cost frontier analysis are to 1. Empirically estimate the possible efficiency gain of power plants due to deregulation. 2. Estimate the cost of electric power generating plants using coal as a fuel taking into account both regularity restrictions and sulfur dioxide emissions. 3. Compare costs of …

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Westernization Of Business Organizations In Japan And China. Continuity And Change, Wai Keung Chung Jan 2006

Westernization Of Business Organizations In Japan And China. Continuity And Change, Wai Keung Chung

Research Collection School of Social Sciences

No abstract provided.

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Realized Variance And Market Microstructure Noise - Comment, Peter C. B. Phillips, Jun Yu Jan 2006

Realized Variance And Market Microstructure Noise - Comment, Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

No abstract provided.

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Modeling The Firm-Size Distribution Using Box-Cox Heteroscedastic Regression, Zhenlin Yang, Yiu Kuen Tse Jan 2006

Modeling The Firm-Size Distribution Using Box-Cox Heteroscedastic Regression, Zhenlin Yang, Yiu Kuen Tse

Research Collection School Of Economics

Using the Box-Cox regression model with heteroscedasticity (BCHR), we re-examine the size distribution of the Portuguese manufacturing firms studied by Machado and Mata () using the Box-Cox quantile regression (BCQR) method. We show that the BCHR model compares favourably against the BCQR method. In particular, the BCHR model can answer the key questions addressed by the BCQR method, with the advantage that the estimated quantile functions are monotonic. Furthermore, estimation of the BCHR model is straightforward and the confidence intervals of the BCHR regression quantiles are easy to compute.

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Financial Liberalization In A Small Open Economy, Haiping Zhang, Jürgen Von Hagen Jan 2006

Financial Liberalization In A Small Open Economy, Haiping Zhang, Jürgen Von Hagen

Research Collection School Of Economics

We address three related questions concerning financial liberalization in a small open economy. Does financial liberalization and the resulting capital inflow improve production efficiency in the domestic economy? Who benefits from financial liberalization in the long run and in the short run? Should financial liberalization be implemented gradually or hastily? Our main results are as follows. First, whether financial deregulation in one sector can improve production efficiency may depend on financial regulation in other sectors. Second, financial liberalization may have opposite welfare implications to domestic agents with different productivity in the long run. Third, although some domestic agents lose in …

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Semi-Parametric Inference In A Bivariate (Multivariate) Mixture Model, Denis H. Y. Leung, Jing Qin Jan 2006

Semi-Parametric Inference In A Bivariate (Multivariate) Mixture Model, Denis H. Y. Leung, Jing Qin

Research Collection School Of Economics

We consider estimation in a bivariate mixture model in which the component distributions can be decomposed into identical distributions. Previous approaches to estimation involve parametrizing the distributions. In this paper, we use a semi-parametric approach. The method is based on the exponential tilt model of Anderson (1979), where the log ratio of probability (density) functions from the bivariate components is linear in the observations. The proposed model does not require training samples, i.e., data with confirmed component membership. We show that in bivariate mixture models, parameters are identifiable. This is in contrast to previous works, where parameters are identifiable if …

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An Empirical Examination Of Ipo Underpricing In The Chinese A-Share Market, Ting Yu, Yiu Kuen Tse Jan 2006

An Empirical Examination Of Ipo Underpricing In The Chinese A-Share Market, Ting Yu, Yiu Kuen Tse

Research Collection School Of Economics

Research in the literature shows that initial public offerings (IPOs) of common stocks are systematically priced at a discount to their subsequent initial trading price. The large underpricing magnitude in the Chinese IPO market has attracted much attention. We consider three hypotheses that may explain the IPO underpricing in China. These are the winner's curse hypothesis, the ex ante uncertainty hypothesis and the signaling hypothesis. Among these hypotheses, the winner's curse hypothesis has not been tested in the Chinese market. Using IPO data for online fixed-price offerings from November 1995 to December 1998, our results show that the winner's curse …

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Coalition Formation Theories Revisited: An Empirical Investigation Of Aumann's Hypothesis, Vincent Chua, Dan S. Felsenthal Jan 2006

Coalition Formation Theories Revisited: An Empirical Investigation Of Aumann's Hypothesis, Vincent Chua, Dan S. Felsenthal

Research Collection School Of Economics

In one of the earliest attempts to examine the effect of a priori voting power on actual political phenomena, Riker (1959) looked at changes in party affiliation in the French National Assembly in 1953–54, and used these data to test the hypothesis that deputies who switched parties were seeking thereby to increase their a priori voting power. His findings were negative, or at best inconclusive.

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Commune-Level Estimation Of Poverty Measure And Its Application In Cambodia, Tomoki Fujii Jan 2006

Commune-Level Estimation Of Poverty Measure And Its Application In Cambodia, Tomoki Fujii

Research Collection School Of Economics

Cambodia is still suffering from the legacy of civil conflict after more than a decade. With over one-third of the population living below the poverty line, poverty remains one of the most serious problems in Cambodia. A number of governmental bodies, local and international nongovernmental organizations (NGOs), and international organizations operating in Cambodia have made eradicating poverty a priority and have established many social programmes to this end. In designing such programmes, the efficient allocation of resources is essential for making poverty alleviation more cost-effective. Targeting is often helpful for this purpose because one can avoid wasting resources on the …

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Measuring Global Poverty Right: Mission Impossible?, M. G. Quibria Jan 2006

Measuring Global Poverty Right: Mission Impossible?, M. G. Quibria

Research Collection School Of Economics

The international community is committed to millennium development goals which postulate a vision of global development that makes eliminating poverty and sustaining development the overriding objective of global development efforts. In the hierarchy of the MDGs, the first and foremost goal is to reduce by half, between 1990–2015, the proportion of people whose income is less than a dollar a day (a widely used yardstick to measure extreme poverty). However, estimating such poverty across developing countries and globally is by no means a simple exercise nor has it yielded unambiguous results. This article provides a brief summary of the state …

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Private Business As Public Good: Hotel Development And Kelo, Joseph Blocher Jan 2006

Private Business As Public Good: Hotel Development And Kelo, Joseph Blocher

Faculty Scholarship

In the summer of 2004, New Haven Mayor John DeStefano, Jr. announced plans to demolish the all-but-derelict New Haven Coliseum and replace it with a publicly financed redevelopment that would include a 300-room hotel. Critics of the plan immediately objected that the hotel-even if it were completed-was a poor public investment, that there was no demand for such a hotel, and that the money could be better spent elsewhere. Some critics pointed to New Haven's own checkered history of major development projects, especially the failed downtown mall and the famously catastrophic Oak Street redevelopment. As of February 2006, the city …

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Does Falling Smoking Lead To Rising Obesity?, Jonathan Gruber, Michael D. Frakes Jan 2006

Does Falling Smoking Lead To Rising Obesity?, Jonathan Gruber, Michael D. Frakes

Faculty Scholarship

The strong negative correlation over time between smoking rates and obesity have led some to suggest that reduced smoking is increasing weight gain in the U.S.. This conclusion is supported by the findings of Chou et al. (2004), who conclude that higher cigarette prices lead to increased body weight. We investigate this issue and find no evidence that reduced smoking leads to weight gain. Using the cigarette tax rather than the cigarette price and controlling for non-linear time effects, we find a negative effect of cigarette taxes on body weight, implying that reduced smoking leads to lower body weights. Yet …

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Coastal Empire Economic Monitor, 4th Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis Jan 2006

Coastal Empire Economic Monitor, 4th Quarter, 2006, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

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L S Penrose's Limit Theorem: Tests By Simulation, Pao Li Chang, Vincent Chua, Moshe Machover Jan 2006

L S Penrose's Limit Theorem: Tests By Simulation, Pao Li Chang, Vincent Chua, Moshe Machover

Research Collection School Of Economics

L S Penrose's Limit Theorem-which is implicit in Penrose (1952, p. 72) [Penrose, 1952. On the Objective Study of Crowd Behavior. H. K. Lewis and Co, London, p. 72] and for which he gave no rigorous proof-says that, in simple weighted voting games, if the number of voters increases indefinitely and the relative quota is pegged, then-under certain conditions-the ratio between the voting powers of any two voters converges to the ratio between their weights. Lindner and Machover (2004) [Lindner I., Machover M. 2004. L.S. Penrose's limit theorem: proof of some special cases. Mathematical Social Sciences 47, 37-49] prove some …

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Intraday Stock Prices, Volume, And Duration: A Nonparametric Conditional Density Analysis, Anthony S. Tay, Christopher Ting Jan 2006

Intraday Stock Prices, Volume, And Duration: A Nonparametric Conditional Density Analysis, Anthony S. Tay, Christopher Ting

Research Collection School Of Economics

We investigate the distribution of high-frequency price changes, conditional on trading volume and duration between trades, on four stocks traded on the New York Stock Exchange. The conditional probabilities are estimated nonparametrically using local polynomial regression methods. We find substantial skewness in the distribution of price changes, with the direction of skewness dependent on the sign of trade. We also find that the probability of larger price changes increases with volume, but only for trades that occur with longer durations. The distribution of price changes vary with duration primarily when volume is high.

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Does Governance Matter? Yes, No Or Maybe Some Evidence From Developing Asia, M. G. Quibria Jan 2006

Does Governance Matter? Yes, No Or Maybe Some Evidence From Developing Asia, M. G. Quibria

Research Collection School Of Economics

This paper seeks to explore the relationship between economic growth and governance performance in Asian developing economies. This exploration yields some interesting conclusions. First, notwithstanding its tremendous economic achievements, the state of governance in Asia is not stellar by international comparison. Indeed, a majority of these countries seem to suffer from a governance deficit. Second, contrary to our expectation, data do not suggest any strong positive link between governance and growth: paradoxically, countries that exhibit surpluses in governance on average grew much slower than those with deficits. The paper ends with some conjecture about this apparent paradox.

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A Class Of Nonlinear Stochastic Volatility Models, Jun Yu, Zhenlin Yang Jan 2006

A Class Of Nonlinear Stochastic Volatility Models, Jun Yu, Zhenlin Yang

Research Collection School Of Economics

This paper proposes a class of nonlinear stochastic volatility models based on the Box-Cox transformation which offers an alternative to the one introduced in Andersen (1994). The proposed class encompasses many parametric stochastic volatility models that have appeared in the literature, including the well known lognormal stochastic volatility model, and has an advantage in the ease with which different specifications on stochastic volatility can be tested. In addition, the functional form of transformation which induces marginal normality of volatility is obtained as a byproduct of this general way of modeling stochastic volatility. The efficient method of moments approach is used …

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A Survey On Physical Delivery Versus Cash Settlement In Futures Contracts, Donald Lien, Yiu Kuen Tse Jan 2006

A Survey On Physical Delivery Versus Cash Settlement In Futures Contracts, Donald Lien, Yiu Kuen Tse

Research Collection School Of Economics

A futures contract may adopt physical delivery or cash settlement to liquidate open positions after the maturity day. While traditionally physical delivery specification is favored, exchanges have recently turned to examine cash settlement possibilities. This paper summarizes current literature on settlement specifications with emphases on market manipulation, cash index construction, and hedging effectiveness comparisons.

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Putting Humpty Dumpty Back Together: Experimental Evidence Of Anticommons Tragedies, Ben Depoorter, Sven Vanneste Jan 2006

Putting Humpty Dumpty Back Together: Experimental Evidence Of Anticommons Tragedies, Ben Depoorter, Sven Vanneste

Faculty Scholarship

No abstract provided.

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Whistle Blowing: An Economic Analysis Of The False Claims Act, Ben Depoorter, Jef De Mot Jan 2006

Whistle Blowing: An Economic Analysis Of The False Claims Act, Ben Depoorter, Jef De Mot

Faculty Scholarship

No abstract provided.

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Hayek And Liberalism, Chandran Kukathas Jan 2006

Hayek And Liberalism, Chandran Kukathas

Research Collection School of Social Sciences

F. A. Hayek occupies a peculiar place in the history of twentiethcentury liberalism. His influence has, in many respects, been enormous. The Road to Serfdom, his first political work, not onlyattracted popular attention in the west but also circulated widely(in samizdat form) in the intellectual underground of Eastern Europeduring the years between the end of the war and the revolutions of1989. His critique of central planning has been thoroughly vindicated, if not by the demise of communist economic systems, thenat least by the recognition by socialists of many stripes of theimportance of market processes.1 Books and articles on his thoughtcontinue …

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The Politics And Economics Of Health: A Cross-National Comparison Of Civic Engagement And Health Status, Suzanne J. Wood Jan 2006

The Politics And Economics Of Health: A Cross-National Comparison Of Civic Engagement And Health Status, Suzanne J. Wood

School of Public Service Theses & Dissertations

Over the past two decades, various structural modifications associated with the provision of national health and its systems have been undertaken. The preponderance of liberalization experiences have occurred in the absence of epidemiological, political, or social considerations associated with adoption and implementation. Often, financial and political manipulation by international organizations and powerful foreign governments has served as the impetus for fundamental shifts leading to an asymmetrical distribution of resources by population density, geography, and along various socio-cultural boundaries. Consequently, structural adjustments have resulted in unpredictable and divergent outcomes with regard to health status. The question of whether or not health …

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Essays On Group Lending: Evidence From Jordan, Moh'd Al-Azzam Jan 2006

Essays On Group Lending: Evidence From Jordan, Moh'd Al-Azzam

LSU Doctoral Dissertations

Group lending has received a great attention from economists and policymakers for its successful delivery of credit to poor borrowers and its role in alleviating poverty in the developing countries. The success of group lending in providing credit to poor borrowers has been attributed to its ability to mitigate the asymmetry of information and enforcement problems in credit markets. The ability of group lending institutions to overcome the asymmetry of information and enforcement problems has been theorized to be the driving force behind their outreach to the poor, their sustainability, and their repayment performance. While there is a host of …

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Income Inequality And Economic Growth, Nor Azam Abdul Razak Jan 2006

Income Inequality And Economic Growth, Nor Azam Abdul Razak

LSU Doctoral Dissertations

A central issue in the growth literature is whether initial conditions matter for income disparity among nations. If they don't, then countries will converge to a single regime once the structural features of the economies are controlled for. If they do, then countries will converge to multiple regimes even if the structural features are controlled for. This dissertation is designed to investigate whether the world is characterized by a single or multiple regimes. The first paper investigates whether the predictions of a particular multiple-regime model due to Galor and Zeira (1993) are borne out by the data. The baseline analysis …

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New Mexico Data Users Conference_2006, University Of New Mexico Bureau Of Business And Economic Research, New Mexico Economic Development Department Jan 2006

New Mexico Data Users Conference_2006, University Of New Mexico Bureau Of Business And Economic Research, New Mexico Economic Development Department

BBER Publications

This report compiles statewide and county-level demographic, economic, labor force, tourism, export, and census data for New Mexico. The publication serves as a comprehensive data reference guide and includes economic forecasts, county profiles, population estimates, labor market statistics, and resources for locating public data sources.

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Legal Ground Rules In Coordinated And Liberal Market Economies, Katharina Pistor Jan 2006

Legal Ground Rules In Coordinated And Liberal Market Economies, Katharina Pistor

Faculty Scholarship

This chapter seeks to explain the affinity between the nature of economic systems: coordinated market economies (CMEs) and liberal market economies (LMEs) on the one hand, and legal origin (civil vs common law systems) on the other. It starts with the simple observation that LMEs tend to be common law jurisdictions, and CMEs civil law jurisdictions. It proposes that the affinity between economic and legal system offers important insights into the foundations of different types of market economies and, in particular, differences in the scope of the state vs the powers of the individual. The main argument is that the …

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