Economics Commons^™

Launhardt’S Early Contributions To The Spatial Monopoly Model, Yeung-Nan Shieh

Faculty Publications

No abstract provided.

Utopia Reconsidered: The Modern Firm As Institutional Ideal, John Dobson

Finance

This paper challenges Alasdair MacIntyre's assertion that the modern firm -such as Google, Unilever, or Microsoft -is inimical to human flourishing within an Aristotelian framework. The paper begins by questioning MacIntyre's rendering of utopian communities. It then addresses four specific criticisms of the modern firm to be found throughout MacIntyre's oeuvre, namely compartmentalisation, myopia, inequality, and loss of community. Arguments are made to the effect that these criticisms do not vitiate the institutional role of the modern firm in an Aristotelian context. The paper concludes with an invocation of the modern firm as institutional ideal within an evolving utopian vision …

Introducing Ethics Into The Finance Curriculum: A Simple Three Level Guide, John Dobson

Finance

Ethics has arrived in the business school curriculum. But what about the curriculum of finance? Can ethics be integrated in any meaningful way into the theory and pedagogy of finance? Given the ever-broader array of topics in finance, should ethics be included at the inevitable expense of something else? Are finance instructors qualified to teach ethics any more than ethicists are qualified to teach finance? In short, are finance educators doing students a service or disservice by devoting class time to ethics? These are the questions addressed here. A menu of three different levels of integration is supplied;each level requiring …

Long And Short-Term Effects Of Regime Change On Emerging And Established Markets, Joseph Edward Mayne

Theses Digitization Project

The purpose of this study was to examine a 149-day period surrounding the capture of former Iraqi leader Saddam Hussein on December 13th, 2003. Daily stock returns were obtained from ten major stock market indexes, five from emerging Middle Eastern countries and five from established markets such as the United States and Japan. The ultimate significance of this study is that it can provide insight into whether or not the change of regime in Iraq had a stabilizing or destabilizing impact on the emerging markets of Iraq. This can shed light on future political escalation of violent conflict and give …

Western Involvement In The Middle East: Imperialism And Its Effects, Jamie Elizabeth Dewitt

Theses Digitization Project

This study explores Britain's and the United States' relationship with the Middle East, as specific examples of the theory of imperialism. The economic motivations for Britain's involvement in the Middle East are shown to be similar to those of the United States' involvement, and both of these are consistent with the theory of imperialism.

The Science Of Persuasion In Recent Discourse On T.R. Malthus: An Exercise In The Analysis Of Rhetoric In Economics, Laila Winner

Economics Undergraduate Honors Theses

Of all the dour portraits lining the august halls of Economics, it is that of Thomas Robert Malthus which seems perhaps to scowl the most grimly. Describing an approach or policy as Malthusian in everyday conversation conjures a host of disturbing images, bare fields and squalling babies chief among them. Such allusions provoke even stronger reactions within the discipline Malthus helped to found, ranging from Keynes's fervent championship to the sneering dismissal of Samuelson. Neither the more famous Smith nor Ricardo nor even Marx can claim to have gained in their lives what the comparatively less prolific Reverend did with …

Ua1f Wku Archives Vertical File - Center For Research & Development, Wku Archives

WKU Administration Documents

Digitized vertical file materials regarding WKU Center for Research & Development.

No. 48: The Quality Of Immigration And Citizenship Services In Namibia, Ndeyapo Nickanor

Southern African Migration Programme

The Ministry of Home Affairs and Immigration (MHAI) in Namibia has sole responsibility for implementing and managing migration policy and legislation; the registration of births, deaths and marriages; and the issuing of identity documents, passports and emergency travel documents. The Ministry also manages visa and permanent and temporary residence applications and approves work permits.

In 2005, the Southern African Migration Project (SAMP) was asked by the Ministry to conduct a systematic survey of the quality of services offered to citizens and non-citizens (the Services Quality Survey or SQS). The main objectives of the SQS were as follows:

• To compare …

An Economic Approach To Climate Change, Matt Bogard

Economics Faculty Publications

Economics is the study of choices, and how they are made compatible. The issue of global warming can be viewed in the context of a set of choices that lead to climate change. In a free society choices are made compatible via the price system. If prices do not reflect the true cost of carbon, then carbon intensive production and consumption choices may not be compatible given the choice sets across all members of society. For example, my choice to burn fossil fuels may be incompatible with your choice to live in a coastal area given certain climate change scenarios. …

Neighborhood Crime And Non-Auto Mode Choice, Shishir Mathur, Christopher Ferrell, Emy Mendoza

Faculty Publications, Urban and Regional Planning

No abstract provided.

Incremental And Average Control Costs In A Model Of Water Quality Trading With Discrete Abatement Units, Arthur J. Caplan

Applied Economics Faculty Publications

This paper answers three questions related to the discrete nature of pollution abatement: (i) does a source's incremental control cost (as defined by the U.S. Environmental Protection Agency) necessarily exceed its average control cost, (ii) is incremental control cost a better approximation of a source's willingness to pay for abatement credits than average control cost, and (iii) exactly how does trading in discrete and continuous abatement markets differ? We find that the answer to the first two questions are both "no", suggesting that the U.S. Environmental Protection Agency needs to refine its reliance on incremental control cost as the sole …

The Importance Of Governance To A Stable And Developed Economy, Peter Litvinenko

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the assumption that proficient governance is essential in securing a stable economy. It studies and analyzes many relevant variables that one would find controlled by the government in its economy. My results show that these established nations all have differences in terms of debt and balance of trades but all seem to agree on the importance of maintaining a morally stable and efficient government structure that allows them to compete in the world economy.

Economic And Social Factors That Influence Life Expectancy And Infant Mortality, Kenneth Smith

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates life expectancy and infant mortality rates in randomly selected countries from around the world. This study takes into consideration many economic and social factors that could potentially have an effect on life expectancy and infant mortality in different countries. Factors are modeled using a least-squared regression model and are determined as significant based on their probability factor. Results show both positive and negative effects depending on the economic and social factor.

The Interaction Between The Stock Market, Monetary Policy And Inflation In Singapore And Malaysia, Lindsey Kahler

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates and compares the interactions among the stock market, monetary policy, and inflation in both Singapore and Malaysia from 2005 through 2007 using bivariate and multivariate vector autoregressive cointegrating specifications. The Granger-causality test shows that for Malaysia there significant unidirectional relationships of inter-bank loan rates to inflation, and inflation to Kuala Lumpur stock returns. For Singapore there is only one significant marginal unidirectional Granger-causality relationship of inflation to Straits Times stock returns. There are no reciprocal relationships in either country. Based on changes in the stock market, the multivariate results show negative changes on the interbank interest rates …

The Impact Of Sectoral Performance On The Stock Market: Does Volatility Equal Explanatory Power?, Jeffrey Haydock

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the real impact of sector performance on the overall stock market and the possibility that the primary culprit of negative or positive performance isn’t necessarily the one that significantly drives overall market performance. The study compares average gain or loss by sector with regression analysis to determine if the largest gainer or loser is also reflected in regression analysis after beta calculation. The results show that there is very limited correlation between the two measures suggesting that major volatility in one sector doesn’t necessarily have the greatest impact on total market movement.

United States Homeownership Rates: The Effect Of Macroeconomic Factors On The Domestic Real Estate Market, Alexander Grande

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the correlation between U.S. economic indicators and the domestic real estate market. The analysis of the study’s findings and results show that some indicators adversely affect homeownership rates in conjunction to the overall state of the market during the time frame depicted. The regression is from a model used on an international level and it is taken and applied here to the domestic market of one country; the United States. The results from the research and tests performed highlight the economic indicators that are closely correlated to the rate of homeownership.

Institutional Ownership And Firm’S Dividend Policy, Jinlan Ni

Economics Faculty Publications

This paper examines the linkage between dividend policy and institutional ownership within the context of the dividend model of Allen, Bernardo and Welch (2000). Specifically, it provides an empirical test of Allen, Bernardo and Welch (2000)’s novel implication that a tax differential between institutions and retail investors effects dividend policies. Using merge data of US industrial firms from 1980-2002, our results indicate that the dividend paying decision is positively related with institutional ownership. That is, firms with higher institutional ownership are more likely to be dividend payers. Further, we find that the deferred tax or tax credits that the institutional …

Testing The Pecking-Order Theory: Evidence From Chinese Listed Companies, Jinlan Ni, Miaomiao Yu

Economics Faculty Publications

The pecking-order theory of capital structure, which predicts that firms prefer internal to external finance, is one of the most influential theories of corporate leverage. This article examines whether the financial structure of China's listed companies follows a pecking order from debt to equity. Using the entire cross-section sample of China's listed companies in 2004, the authors find no evidence that China's listed companies follow a pecking order when they need funds to finance investment projects. Further subgroup analyses indicate that big companies follow a pecking order and small and medium companies do not. These results suggest that the Chinese …

U.S. Lotto Markets, Victor Matheson, Kent Grote

Economics Department Working Papers

Lotteries as sources of public funding are of particular interest because they combine elements of both public finance and gambling in an often controversial mix. Proponents of lotteries point to the popularity of such games and justify their use because of the voluntary nature of participation rather than the reliance on compulsory taxation. Whether lotteries are efficient or not can have the usual concerns related to public finance and providing support for public spending, but there are also concerns about the efficiency of the market for the lottery products as well, especially if the voluntary participants are not behaving rationally. …

Health Insurance And The Labor Supply Decisions Of Older Workers: Evidence From The U.S. Department Of Veterans Affairs, Melissa Boyle, Joanna N. Lahey

Economics Department Working Papers

This paper exploits a major mid-1990s expansion in the U.S. Department of Veterans Affairs health care system to provide evidence on the labor market effects of expanding health insurance availability. Using data from the Current Population Survey, we compare the labor market behavior of older veterans and non-veterans before and after the VA health benefits expansion to test the impact of public health insurance on labor supply. We find that older workers are significantly more likely to decrease work both on the extensive and intensive margins after receiving access to non-employer based insurance. Older workers are also more likely to …

Book Chapter: The Lexus And The Olive Branch: Globalization, Democratization And Terrorism, Gregory Hess, S. Brock Blomberg

CMC Faculty Publications and Research

This chapter provides an original study into how democratization and globalization influence terrorism, examining the motives of terrorists and how democratic institutions and international integration influence nonstate economic actors.

How Do Environmental And Natural Resource Economics Texts Deal With The Simple Model Of The Intertemporal Allocation Of A Nonrenewable Resource, Robert S. Main

Scholarship and Professional Work - Business

Textbooks in Environmental and Natural Resource Economics invariably deal with the problem of allocating a non-renewable resource over time. The simplest version of that problem is the case of a resource that is to be allocated over two periods. The resource has a constant Marginal Extraction Cost (MEC). Most textbooks treat this case before moving on to more complex and realistic cases. This paper suggests the results that should be emphasized and the method that should be used to arrive at those results. It also points out the possible confusions that should be avoided. Finally, it examines how several well-known …

Ua7 Ored Quarterly Newsletter, Sadiq Shah

ORED Quarterly Newsletter

Connecting Knowledge with Businesses and Society to Promote Economic Growth and to Enhance the Quality of Life

A Current Microeconometric Assessment Of The Racial Wage Gap In The United States, David H. Krisch

Gettysburg Economic Review

Minority groups in the United States promoted affirmative action legislation in the 1960s during the civil rights movement to help ease the inequalities suffered in their economic history. Many labor economists have sought since this time to study the effects of race, gender, and the effect of income – how it has changed and if the gap has closed. Existing literature uses many different econometric models to show how the effects of race, gender, age, occupation, educational attainment, and geographic location on an individual comparative basis. This paper will examine the effects of all of these variables jointly using an …

The Effects Of Intermarriage On The Earnings Of Female Immigrants In The United States, Milena V. Nikolova

Gettysburg Economic Review

This paper investigates the effects of intermarriage on the earnings of female immigrants in the United States. The main empirical question asked is whether immigrant females married to US-born spouses have higher earnings than those of immigrant females married to other immigrants. Using 1970 and 1870 samples of IPUMS data, I estimate an earnings equation through OLS. I also correct for the labor force selection bias using the Heckman procedure. I finally take into account the endogeneity of intermarriage and apply a twostage least squares (2SLS) estimation procedure. I find that there is a positive marriage premium among immigrant females …

Causality Relationship Between Foreign Exchange Rates And Stock Market Close: Evidence From Singapore, Jeffrey Shew, Jr.

Empirical Economic Bulletin, An Undergraduate Journal

This paper attempts to examine whether or not a causal relationship exists between exchange rates and stock market returns. By using the Granger Causality model, causality relationships were determined for four data sets created through the use of significant structural breaks between 1990 and 2006 in Singapore. The results suggest that over the course of 16 years there exists no relationship between exchange rates and stock market returns. However, from 1990 up until the Asian Financial Crisis exchange rates led stock prices as suggested by Granger et al. (2000). The other two time series, between the Asian Financial Crisis and …

The Economics Of Natural And Unnatural Disasters 2008-09, Department Of Economics

Werner Sichel Lecture Series

The 2008/2009 Werner Sichel Lecture Series features six nationally and internationally recognized economists whose presentations will focus on the economic impacts generated by both natural and man-made disasters and the policy options that might reduce our vulnerability to these events. The series is directed by Professors William Kern and Christine Moser and is cosponsored by the W.E. Upjohn Institute for Employment Research. All presentations are free and open to the public.

An Analysis Of The Female Labor Force Participation Rate In The U.S. 1980-2004, Larry Martins

Empirical Economic Bulletin, An Undergraduate Journal

This research uses census data from the Bureau of Labor Statistics to examine the female labor force participation from 1980 to 2004. These statistics are used to find the determinants of women’s decisions to enter the job market. The purpose of studying the female involvement in the labor force is to illustrate if females are still having trouble in the market. This article also reviews historical labor force statistics to determine how the labor force has changed and which factors have affected its changes between 1980 and 2004. The model, estimated with U.S. data, has provided empirical support for the …

Causality Between Defense Spending Gdp And Economic Growth, Ryan P. Daley

Empirical Economic Bulletin, An Undergraduate Journal

This paper addresses whether or not the government members of the “Coalition of the Willing” military expenditure as a participant in the war in Iraq will help to generate domestic economic growth on the eve of an impending recession. This paper analyzes the findings during the time period 1989-2006 regarding military expenditure as a percentage of GDP, and its effect on GDP growth, through comparing that relationship between studies and in different political, socioeconomic circumstances. It also performs the same tests on the most recent and complete set of data available for the 31 member nations of the Coalition, to …

2008-6 Learning About Academic Ability And The College Drop-Out Decision, Todd R. Stinebrickner, Ralph Stinebrickner

Centre for Human Capital and Productivity. CHCP Working Papers

No abstract provided.