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2008

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Articles 511 - 540 of 898

Full-Text Articles in Economics

The Lt. Governor Encourages Lawyers To Take Advantage Of State Resources To Aid Ohio's Economic Development, Lee Fisher Mar 2008

The Lt. Governor Encourages Lawyers To Take Advantage Of State Resources To Aid Ohio's Economic Development, Lee Fisher

Law Faculty Articles and Essays

For the last several months, my colleagues and I at the Ohio Department of Development have been focused on the formation of a statewide economic development strategy that will establish our priorities and guide our future decisions. Ultimately this strategy will serve as an economic development plan for Ohio that will be led primarily by the Ohio Department of Development, along with the Governor's office and other state agencies and departments. With full implementation, our strategic plan will not only guide Ohio's long-term investments, but will also help guide our daily decisions.

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Testing For Random Effects And Spatial Lag Dependence In Panel Data Models, Badi Baltagi, Long Liu Mar 2008

Testing For Random Effects And Spatial Lag Dependence In Panel Data Models, Badi Baltagi, Long Liu

Economics - All Scholarship

This paper derives a joint Lagrange Multiplier (LM) test which simultaneously tests for the absence of spatial lag dependence and random individual effects in a panel data regression model. It turns out that this LM statistic is the sum of two standard LM statistics. The first one tests for the absence of spatial lag dependence ignoring the random individual effects, and the second one tests for the absence of random individual effects ignoring the spatial lag dependence. This paper also derives two conditional LM tests. The first one tests for the absence of random individual effects without ignoring the possible …

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The Virtues And Vices Of Equilibrium And The Future Of Financial Economics, J. Doyne Farmer, John Geanakoplos Mar 2008

The Virtues And Vices Of Equilibrium And The Future Of Financial Economics, J. Doyne Farmer, John Geanakoplos

Cowles Foundation Discussion Papers

The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the cornerstone of modern economic theory. We explain why this is so, extolling the virtues of equilibrium theory; then we present a critique and describe why this approach is inherently limited, and why economics needs to move in new directions if it is to continue to make progress. We stress that this shouldn’t be a question of dogma, but should be resolved empirically. There are situations where equilibrium models provide useful predictions and …

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Appropriate Mix Of Energy Resources For Economic Development In Nigeria., Ngozi T. I. Agboegbulem* Mar 2008

Appropriate Mix Of Energy Resources For Economic Development In Nigeria., Ngozi T. I. Agboegbulem*

Economic and Financial Review

The article identifies the various forms of energy resources available in Nigeria and proposed how best these energy resources could be into efficient use. It observed that Nigeria sis blessed with abundant renewal energy and non-renewable energy resources and appreciated the fact that, while renewables will continue to play a granting role, “they are not expected to overtake fossiI fuels in the near future in meeting both Nigerian and global energy demand. The paper concludes that most of the energy consumed in the country come from oil and gas and viewed this to be a move in the right direction …

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An Empirical Investigation On The Effectiveness Of Open Market Operations (Omo) In Nigeria, Phebian N. Omanukwue, Magnus O. Abeng Mar 2008

An Empirical Investigation On The Effectiveness Of Open Market Operations (Omo) In Nigeria, Phebian N. Omanukwue, Magnus O. Abeng

Economic and Financial Review

This article attempts to investigate the effectiveness of the open market operations in Nigeria adopting an error correction methodology. The study showed that in the conduct of defensive open market operations, inflationary expectations, treasury bill rate, income and fiscal balances exert significant influences on the volume of bank reserves. The persistent effect of fiscal balances on the volume of bank reverses in the short run shows that consideration of government activities remains important in developments in the financial sector. Findings from the study revealed that the system adjusts itself to equilibrium within three quarters in the event of a shock. …

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Appraising Nigeria's Tax Effort: A Comparative Econometric Analysis, Peter D. Golit Mar 2008

Appraising Nigeria's Tax Effort: A Comparative Econometric Analysis, Peter D. Golit

Economic and Financial Review

The article employs the conventional model of tax effort to appraise Nigeria’s tax performance in comparison to other counties of the West African Monetary Zone (WAMZ). The key objective of the study is to determine whether Nigeria is limited it its revenue collections by a low capacity to generate tax revenue by non-commitment-towards using the available tax capacity to fund public services. If the country has the capacity to increase tax revenue, what are the appropriate channels through which tax revenue can be increased. Empirical evidence suggests that Nigeria is not making the optimal of her taxable capacity as the …

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A Framework For Financial Stability, Rafiu O. Olaitan Mar 2008

A Framework For Financial Stability, Rafiu O. Olaitan

Economic and Financial Review

This is a review of the article “a framework for financial stability” by Andrew Haldane, Central Banking Quarterly Journal, Vol XV, No. 3, February 2005.

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Is A Circuit Breaker The Solution For Property Tax Relief In New York?, John Yinger Mar 2008

Is A Circuit Breaker The Solution For Property Tax Relief In New York?, 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.

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Managing Oil Price Risks In Developing Countries: A Review, Chioma P. Nwosu Mar 2008

Managing Oil Price Risks In Developing Countries: A Review, Chioma P. Nwosu

Economic and Financial Review

This is a review of the article “managing oil price risks in developing countries” by-Julia Devin and Sheridan Titman, World Bank Research Observer 2004, Vol 19, No 1

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Women, Re-Entry And Everyday Life: Time To Work?, Dina R. Rose, Venezia Michalsen, Dawn R. Wiest, Anupa Fabian Mar 2008

Women, Re-Entry And Everyday Life: Time To Work?, Dina R. Rose, Venezia Michalsen, Dawn R. Wiest, Anupa Fabian

Department of Justice Studies Faculty Scholarship and Creative Works

This study focuses on women at various stages of re-entry into the community after involvement with the criminal justice system. In particular, it takes a close look at how the participants in the study manage their time in the face of the types of competing demands that are all too common to most people.

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Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos Mar 2008

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

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Gender-Role Orientation As Determinant Of Entrepreneurial Self-Efficacy, Mary Conway Dato-On, Stephen L. Mueller Mar 2008

Gender-Role Orientation As Determinant Of Entrepreneurial Self-Efficacy, Mary Conway Dato-On, Stephen L. Mueller

Faculty Publications

Entrepreneurial self-efficacy (ESE) is often included in entrepreneurial intentions models to explain why some individuals are more likely than others to become entrepreneurs. An unsettled question among researchers is whether ESE differs between men and women. While early studies seem to suggest that men have higher ESE than women, more recent studies are inconclusive. Lacking empirical support for gender differences in ESE compels researchers to look for other factors to explain variation in entrepreneurial self-efficacy. The present study confirms two recent studies finding no significant difference in ESE between men and women in a representative sample of MBA students. This …

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Ui As A Safety Net For Former Tanf Recipients: Final Report, Christopher J. O'Leary, Kenneth J. Kline Mar 2008

Ui As A Safety Net For Former Tanf Recipients: Final Report, Christopher J. O'Leary, Kenneth J. Kline

Reports

No abstract provided.

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Hysteresis In Unemployment: Evidence From Latin America, Matias Mednik, Cesar Rodriguez, Inder J. Ruprah Mar 2008

Hysteresis In Unemployment: Evidence From Latin America, Matias Mednik, Cesar Rodriguez, Inder J. Ruprah

Economics Faculty Publications and Presentations

This paper tests the hysteresis hypothesis in unemployment for 13 Latin American countries covering the period 1980-2005. The tests exploit the time series and the cross sectional variation of the series, and allows for cross section dependence and a different number of endogenously determined structural breakpoints. The findings give support to the hysteric dynamic hypothesis for the majority of the countries analyzed. The implications of the results have ramifications regarding macro-stabilization, structural reform, and the design of social safety protection.

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Economics Of Soil Conservation Adoption In High-Rainfall Areas Of The Ethiopian Highlands, Menale Kassie, Stein Holden, Gunnar Köhlin, Randall Bluffstone Mar 2008

Economics Of Soil Conservation Adoption In High-Rainfall Areas Of The Ethiopian Highlands, Menale Kassie, Stein Holden, Gunnar Köhlin, Randall Bluffstone

Economics Faculty Publications and Presentations

This study measures the impact of fanya juu bunds (an important soil and water conservation technology and the most popular type of contour bund in east Africa) on the value of crop production in a high-rainfall area in the Ethiopian highlands using cross-sectional multiple plot observations. We applied switching regression, stochastic dominance analysis (SDA), and decomposition and propensity score matching methods to ensure robustness. The switching regression, SDA, and decomposition analyses relied on matched observations, which was important because regression and SDA often do not ensure that comparable plots with conservation technology (conserved) and plots without (unconserved) actually exist in …

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Feasibility Of Jp-8 To Jet A Fuel Conversion At U. S. Military Facilities, Lance A. Vann Mar 2008

Feasibility Of Jp-8 To Jet A Fuel Conversion At U. S. Military Facilities, Lance A. Vann

Theses and Dissertations

In FY06, The Department of Defense (DoD) military grade jet fuel expenditures eclipsed $6.6 billion dollars. In a search for more cost effective options, the Office of the Secretary of Defense Comptroller recently expressed interest in the quantity of commercial Jet A fuel that the United States Transportation Command uses in lieu of military grade JP-8. In accordance with AFSO 21 and LEAN concepts, this research examines the technical feasibility and opportunity for cost avoidance of a conversion from JP-8 to Jet A at six Northwestern United States military installations. The technical feasibility analysis examines the chemical likeness of JP-8 …

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The Consequences Of Information Revealed In Auctions, Brett E. Katzman, Matthew Rhodes-Kropf Mar 2008

The Consequences Of Information Revealed In Auctions, Brett E. Katzman, Matthew Rhodes-Kropf

Faculty Articles

This paper considers the ramifications of post-auction competition on bidding behavior under different bid announcement policies. In equilibrium, the auctioneer’s announcement policy has two distinct effects. First, announcement entices players to signal information to their post-auction competitors through their bids. Second, announcement can lead to greater bidder participation in certain instances while limiting participation in others. Specifically, the participation effect works against the signalling effect, thus reducing the impact of signalling found in other papers. Revenue, efficiency, and surplus implications of various announcement policies are examined.

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Asymptotic Variance And Extensions Of A Denisty-Weighted-Response Semiparametric Estimator, Myoung-Jae Lee, Fali Huang, Young-Sook Kim Mar 2008

Asymptotic Variance And Extensions Of A Denisty-Weighted-Response Semiparametric Estimator, Myoung-Jae Lee, Fali Huang, Young-Sook Kim

Research Collection School Of Economics

Building on some early works, Lewbel (2000) proposed estimators for binary and ordered discrete response models with endogenous regressors. These estimators have been extended for panel data and for truncated and censored models by later papers. The estimators are particularly innovative in that the latent linear regression functions are pulled out of the nonlinear limited dependent variable models, which are then treated as if they were the usual linear models. But understanding the estimators and their applications have been “hampered” by less-than-ideal expositions and assumptions. For this problem, this short note reviews the estimators and makes the following three points. …

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Testing Structural Change In Time-Series Nonparametric Regression Models, Liangjun Su, Zhijie Xiao Mar 2008

Testing Structural Change In Time-Series Nonparametric Regression Models, Liangjun Su, Zhijie Xiao

Research Collection School Of Economics

We propose a CUSUM type of test for structural change in dynamic nonparametric regression models. It is based upon the cumulative sums of weighted residuals from a single nonparametric regression and complements the conventional parameter instability tests in parametric models. We derive the limiting distributions of the test under both the null hypothesis and sequences of local alternatives. A boot-strap procedure is also proposed and its validity is justified. Finally, simulation experiments are conducted to investigate the finite sample properties of our test.

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Advertising And Collusion In Retail Markets, Kyle Bagwell, Gea Myoung Lee Mar 2008

Advertising And Collusion In Retail Markets, Kyle Bagwell, Gea Myoung Lee

Research Collection School Of Economics

We consider non-price advertising by retail firms that are privately informed as to their respective production costs. We first analyze a static model. We construct an advertising equilibrium, in which informed consumers use an advertising search rule whereby they buy from the highest-advertising firm. Consumers are rational in using the advertising search rule, since the lowest-cost firm advertises the most and also selects the lowest price. Even though the advertising equilibrium facilitates productive efficiency, we establish conditions under which firms enjoy higher expected profit when advertising is banned. Consumer welfare falls in this case, however. We next analyze a dynamic …

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Target Saving In An Overlapping Generations Model, Brishti Guha, Ashok S. Guha Mar 2008

Target Saving In An Overlapping Generations Model, Brishti Guha, Ashok S. Guha

Research Collection School Of Economics

We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case, consumption displays excess sensitivity to current income as well as perfect old age insurance. In an overlapping generations model, this leads naturally to multiple and unstable equilibria. Under static expectations, it also leads to a well-defined dynamics, including possible historical traps, implosions involving ever-diminishing capital stock and ever-increasing interest rates, and the feasibility of optimal one-time interventions.

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Financial Frictions, Capital Reallocation, And Aggregate Fluctuations, Jürgen Von Hagen, Haiping Zhang Mar 2008

Financial Frictions, Capital Reallocation, And Aggregate Fluctuations, Jürgen Von Hagen, Haiping Zhang

Research Collection School Of Economics

We address an important business cycle fact, i.e., the amplified and hump-shaped responses of output to productivity shocks, in a dynamic general equilibrium model with financial frictions. Models with financial frictions in the current literature have either the amplification mechanism or the propagation mechanism. Our model shows that the dynamic interaction of borrowing constraints, endogenous capital accumulation, and capital reallocation among agents with different productivity constitutes a mechanism through which the effects of productivity shock on aggregate output are amplified and propagated, more in line with the empirical evidence than other related models in the literature.

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Testing Intergroup Concordance In Ranking Experiments With Two Groups Of Judges, Dawn J. Dekle, Leung, Denis H. Y., Min Zhu Mar 2008

Testing Intergroup Concordance In Ranking Experiments With Two Groups Of Judges, Dawn J. Dekle, Leung, Denis H. Y., Min Zhu

Research Collection School Of Economics

Across many areas of psychology, concordance is commonly used to measure the (intragroup) agreement in ranking a number of items by a group of judges. Sometimes, however, the judges come from multiple groups, and in those situations, the interest is to measure the concordance between groups, under the assumption that there is some within-group concordance. In this investigation, existing methods are compared under a variety of scenarios. Permutation theory is used to calculate the error rates and the power of the methods. Missing data situations are also studied. The results indicate that the performance of the methods depend on (a) …

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Rolling In The Dough: The Continued Surge In Individual Contributions To Presidential Candidates And Party Committees, David B. Magleby Mar 2008

Rolling In The Dough: The Continued Surge In Individual Contributions To Presidential Candidates And Party Committees, David B. Magleby

Faculty Publications

The dramatic growth in the numbers of individuals contributing to presidential candidates and the surge in total amounts being contributed has generated substantial media attention in the 2008 presidential election. Individuals are giving more, in part, because the 2002 Bipartisan Campaign Reform Act (BCRA) raised contribution limits and encouraged "max-out" donors to contribute to party committees as well. This study compares individual contributions to presidential candidates and party committees in 1999, the year prior to the last pre-BCRA presidential election, and in the years prior to post-BCRA presidential elections.

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Grain Situation And Outlook; Cattle Market Fundamentals, Alan May, Matthew Diersen Feb 2008

Grain Situation And Outlook; Cattle Market Fundamentals, Alan May, Matthew Diersen

Economics Commentator (1972- 2016)

No abstract provided.

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Economic Stimulus: Charting The Cautious Course; Econometrics Versus Regression Analysis, John A. Sodney, Jing Li Feb 2008

Economic Stimulus: Charting The Cautious Course; Econometrics Versus Regression Analysis, John A. Sodney, Jing Li

Economics Commentator (1972- 2016)

No abstract provided.

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Fiscal Stimulus; 2008 Sdsu South Dakota Farm Real Estate Market Survey, Bill Adamson, Burton Pflueger Feb 2008

Fiscal Stimulus; 2008 Sdsu South Dakota Farm Real Estate Market Survey, Bill Adamson, Burton Pflueger

Economics Commentator (1972- 2016)

No abstract provided.

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Corn Versus Soybeans Decisions In 2008, Burton Pflueger, Don Guthmiller Feb 2008

Corn Versus Soybeans Decisions In 2008, Burton Pflueger, Don Guthmiller

Economics Commentator (1972- 2016)

No abstract provided.

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The Impact Of Agriculture On The Economy Of South Dakota, Gary Taylor Feb 2008

The Impact Of Agriculture On The Economy Of South Dakota, Gary Taylor

Economics Commentator (1972- 2016)

No abstract provided.

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Rhode Island Current Conditions Index — February 2008, Leonard Lardaro Feb 2008

Rhode Island Current Conditions Index — February 2008, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

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