Economics Commons^™

Ape205, Section 4, Real Competition, Loose Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Profit-rate differences across firms [Handwritten research notes citing John Cable and Dennis Mueller and contrasting static and Schumpeterian explanations of interfirm profit-rate differences, followed by related equations]. (2007, September 16).
• Classical competitive process [Handwritten analytical note deriving relationships among relative prices, profit rates, output, and capital growth]. (2008, January 18).
• Quantitative Micro Software, LLC. (2004, October 27). EViews help: Structuring a workfile [Heavily annotated software-help excerpt on dated, cross-sectional, and panel-data organization, balancing, identifiers, missing values, and restructuring].
• Data in EViews regressions [Handwritten econometric note specifying a cross-industry regression and panel error components]. (n.d.).
• Chen, P. (2008, …

Tribal Nation Economics: Rebuilding Commercial Prosperity In Spite Of U.S. Trade Restraints–Recommendations For Economic Revitalization In Indian Country, Angelique Eaglewoman

Faculty Scholarship

Tribal commerce created the current highways that stretch from coast-to-coast in North America today. The roads that are traveled by semi-trucks full of cargo, grocery produce, and all manner of commercial goods are on top of the ancient trade routes Natives have traveled for centuries. Unfortunately, the history and sophistication of Native commercial activities have been largely suppressed and left out of the story of the North American continent as Euro-Americans rewrote the continent’s history to reflect the glorification of colonization. The truth is that there was no need for the 'rugged pioneer' to cut through tall grass to head …

Capital Stock, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Capital stock [Handwritten notes with formulas for gross and net stock]. Unpublished manuscript.

• Tsoulfidis, L. (1999, May 27). Capacity utilization measures [Email to Anwar Shaikh]. Unpublished correspondence.

• Shaikh, A. (n.d.). Capacity utilization [Notes addressed to Anwar Shaikh]. Unpublished manuscript.

• U.S. Bureau of the Census. (1999, May 4). Plant capacity utilization [Data table]. U.S. Department of Commerce.

• Shaikh, A. (n.d.). Depreciation and geometric decay [Handwritten notes with equations]. Unpublished manuscript.

• Wasshausen, D. (2008, January 8). Census book value measures versus BEA measures [Email exchange with Anwar Shaikh]. Unpublished correspondence. …

Book Method, Micro, Etc., Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2005, May 12). Microfoundations of preference functions, meta-distribution, and Engel curves [Handwritten notes]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (2008, February 8). Engel's curves & stochastic micro behavior [Handwritten notes]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (2008, September 18). Allen and Bowley (1935) working-class budget data: Graphs and consumption expenditure equations [Spreadsheet printout with handwritten notes]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (2008, September 15). Engel curve in my framework: Discussion of Aitchison and Brown (1957) and parameter shape for a necessary good's Engel curve [Typed document]. Anwar Shaikh, PhD, personal archives. …

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Macro, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Taylor, L. (2008, July). A foxy hedgehog: Wynne Godley and macroeconomic modelling. Cambridge Journal of Economics.

• Typed notes titled History of Macro Theory citing Snowdon (2005) [Unpublished manuscript].

• HP LaserJet 1200 self-test and configuration page (2001, February 14).

• Velupillai, K. V. (2006). A disequilibrium macrodynamic model of fluctuations. Journal of Macroeconomics.

• Handwritten notes with equations on aggregate production functions and the rate of profit, possibly by Paula Humadi (2013, May 17) [Unpublished manuscript].

• A page from Journal of Economic Literature discussing optimal inflation forecasts and interest-rate paths …

Proposal For Future Of New School Economics Program, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• (2008). Proposal for the future of the New School economics program [Unpublished proposal]. The New School.

• Shaikh, A. (2008, October 9). Warren Mosler on current crisis [Unpublished handwritten notes]. Personal collection.

• EPIC Coalition. (2008, October 9). Biography of Warren B. Mosler [Printed biography]. EPIC Coalition.

• Shaikh, A. (2008, November). Long-term development plan [Unpublished departmental report]. Economics Department, The New School for Social Research.

Eco108 World Political Eco Lecture I&Ii, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection contains:

• Intermediate economics: growth, unemployment and inflation [Sample exam questions]. (2008, Spring).

• Keynesian model with government [Manuscript]. (2008, March 11).

• Shaikh, A. (1998, February 19). Unemployment [Handwritten notes for LANG 6061]. Anwar Shaikh, PhD.

• Shaikh, A. (2005, January). Outline [Handwritten notes for LANG 6061]. Anwar Shaikh, PhD.

• Shaikh, A. (1985, October 2). Productive/unproductive labor [Handwritten notes]. Anwar Shaikh, PhD.

• Shaikh, A. (2005, February). Finish long waves [Handwritten notes for economics, international economics]. Anwar Shaikh, PhD.

• Shaikh, A. (2001, April 17). Growth [Handwritten notes for ECO 105]. Anwar Shaikh, PhD.

• Shaikh, …

The U.S. Intra-Industry Trade With Caribbean Countries, E. M. Ekanayake, John R. Ledgerwood

Publications

This paper aims to measure the level of intra-industry trade with special focus on vertical and horizontal intra-industry trade (IIT) in United State's foreign trade with Caribbean countries. One of the main findings is that the observed increase in intra-industry trade between the United States and Caribbean is almost entirely due to two-way trade in vertical differentiation. The second important finding is that the level of per capita income, trade intensity, product differentiation, industry size, and product quality differences are found to affect the shares of all three types of IIT positively.

An Incumbent's Guide To Reelection: The States And Economic Voting In U.S. Presidential Elections, Kyle Smith

Honors Theses

This study has two chapters. The first uses Ray Fair 's national economic voting model of U.S. presidential elections to pose and answer specific questions about how voting theory works in practice. The results suggest that economic activity in the year of an election is the primary determinant of voters' perceptions of presidential performance on the economy, while earlier years in the administration's term are not important. Also, voters hold the incumbent party responsible for economic conditions whether or not that party controls Congress. Finally, the results suggest that economic voting generally operates symmetrically -a fall in growth affects the …

Demographic Differences In Household Expenditure For Low-Income Families: Evidence From The United States, Joerose Tharakan

Honors Theses

Despite being one of the world’s most prosperous countries, the United States of America was home to roughly 7.7 million households living in poverty in 2006. Of this figure, 53% percent of households were headed by a single mother. What is more disturbing is that a significant majority of these households were those of full time workers, unable to meet the basic needs of their families at federally mandated minimum wage rates. Researchers and activists from a multitude of disciplines have repeatedly called for an overhaul of the current method of estimating poverty in the United States` and further proposed …

Stock Markets And Household Wealth: Can A Stock Market Crash Cause A Recession In The U.S. Economy?, Ishan Singh

Honors Theses

Stock market wealth effects on the level of consumption in the United States economy have been constantly debated; there is evidence for arguments for and against its prominence and its symmetry. This paper seeks to investigate the strength of its negative effect by creating models to analyze unexpected shocks to the Standard and Poor's 500 index. First, a transmission mechanism between the stock market and GDP is established through the use of second-order vector autoregressive models. Following which, theory from the life cycle model and adaptations of previous researchers' models are used to create a structural model. This paper finds …

Estimating Exchange Rate Equations Using Estimated Expectations, Ray C. Fair

Cowles Foundation Discussion Papers

This paper takes a somewhat different approach from the recent literature in estimating exchange rate equations. It assumes uncovered interest rate parity and models how expectations are formed. Agents are assumed to base their expectations of future interest rates and prices, which are needed in the determination of the exchange rate, on predictions from a ten equation VAR model. The overall model is estimated by FIML under model consistent expectations. The model generally does better than the random walk model, and its properties are consistent with observed effects on exchange rates from surprise interest rate and price announcements. Also, the …

Devaluation And Aggregate Economic Activity In Asian Developing Countries, Sushma Shrestha

Masters Theses

Many economists have analyzed data from developed and developing countries to determine the effects of devaluation on output. The evidence so far has been mixed, expansionary in some countries and contractionary in others, growth retarding in the short run and neutral in the long, and so on. This paper examines the evidence on seven developing countries from Asia during the period 1972-2006 to see if data support the contractionary devaluation hypothesis. These countries are: India, Indonesia, S. Korea, Malaysia, the Philippines, Sri Lanka, and Thailand.

The model in this study identifies the effects of the real exchange rate, a key …

The Effect Of Devaluation On Output In The Egyptian Economy: A Vector Autoregression Analysis, Sahar M. Abdel-Haleim, Hala El-Ramly

Business Administration

The objective of this paper is to analyze the relationship between exchange rate changes and output in the Egyptian economy. This is the first such study that we know of for Egypt. Employing a Vector Autoregression model, the paper conducts the study using annual data for Egypt over the period 1982-2004. The results of the study indicate that devaluations have an initial contractionary effect on output in Egypt. This contractionary effect lasts for a period of as long as four years before the expected positive effect of the devaluation starts to materialize. Moreover, the study clarifies that real exchange rate …

Estimating Term Structure Equations Using Macroeconomic Variables, Ray C. Fair

Cowles Foundation Discussion Papers

This paper begins with the expectations theory of the term structure of interest rates with constant term premia and then postulates how expectations of future short term interest rates are formed. Expectations depend in part on predictions from a set of VAR equations and in part on the current and two lagged values of the short term interest rate. The results suggest that there is relevant independent information in both the VAR equations’ predictions and the current and two lagged values of the short rate. The model fits the long term interest rate data well, including the 2004-2006 period, which …

Optimal Resource Extraction Contracts Under Threat Of Expropriation, Eduardo Engel, Ronald Fischer

Cowles Foundation Discussion Papers

The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a social cost that increases with the expropriated value. In this environment, the planner’s optimal contract avoids states with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable informational requirements. The bidding variable is a cap on the present value of discounted revenues, and the firm with the lowest bid wins the contract. The basic framework is extended …

Spring 2005 And 2008 World Political Economy, Anwar Shaikh Phd

Archives of Anwar Shaikh

Contents Include:

• Typed course outline for GECO 5108 & LECO 4505: World Political Economy for Spring 2005

• Typed course outline for GECO 5108 & LECO 4505: World Political Economy for Spring 2008

• Email from Shaikh to Tinru Lin with the subject: "Reading list for WPE final paper"

Demand Dynamics With Socially Evolving Preferences And Other Files, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Aversi, R., Dosi, G., Fagiolo, G., Meacci, M., & Olivetti, C. (1997, December). Demand dynamics with socially evolving preferences (Interim Report IR-97-081). International Institute for Applied Systems Analysis.

• Minoiu, C., & Reddy, S. G. (2008, February 24). Estimating poverty and inequality from grouped data: How well do parametric methods perform? [Draft paper].

• Bernstein, J., McNichol, E., & Nicholas, A. (2008, April). Pulling apart: A state-by-state analysis of income trends [Report].

• [Author unknown]. (2008, May 22). “It’s the economic recovery plan, stupid.” [Panel discussion invitation featuring Laura D’Andrea Tyson].

• Shaikh, A., PhD. (2008, …

If Ethanol Is The Answer, What Is The Question, Peter Z. Grossman

Scholarship and Professional Work - Business

Since 2005, in the face of rising oil and gasoline prices, many Americans have looked to plant-based fuels, particularly ethanol, as the "answer" to our energy dilemmas. Section III examines the issues connected specifically to ethanol, how market forces as well as government subsidies have worked to make corn-based ethanol economically viable at times, why that viability has been lost in recent months even with subsidies, and further, why ethanol from corn on the scale the legislation demands is impractical. Clearly it would be technically possible to produce the mandated 15 billion gallons of ethanol, and distilling capacity will nearly …

Market Efficiency At The Derby: A Real Horse Race, Steven D. Dolvin, Mark K. Pyles

Scholarship and Professional Work - Business

Using race data from each Kentucky Derby from 1920 to 2005, we examine whether the horse wagering market is efficient. Most prior studies in this arena test potential betting strategies that rely on posted odds, generally finding that it is extremely difficult to devise and implement any consistently successful wager (i.e., market efficiency). We extend these studies by examining underlying determinants of posted race odds, specifically focusing on the experience of auxiliary members (e.g., jockey, breeder and trainer) associated with each entrant. We find that past Derby experience is an important determinant of posted odds and that the odds-making system …

Experimental Gasoline Markets, Cary A. Deck, Bart J. Wilson

Economics Faculty Articles and Research

Zone pricing in wholesale gasoline markets is a contentious topic in the public policy debate. With a controlled laboratory experiment, we investigate the competitive effects of zone pricing on consumers, retail stations, and refiners vis-à-vis the proposed policy prescription of uniform wholesale pricing to retailers. We also examine the issue of divorcement and the “rockets and feathers” phenomenon. The former is the legal restriction that refiners and retailers cannot be vertically integrated, and the latter is the perception that retail gasoline prices rise faster than they fall in response to random walk movements in the world price for oil.

Application Of The Fractal Market Hypothesis For Modelling Macroeconomic Time Series, Jonathan Blackledge

Articles

This paper explores the conceptual background to financial time series analysis and financial signal processing in terms of the Efficient Market Hypothesis. By revisiting the principal conventional approaches to market analysis and the reasoning associated with them, we develop a Fractal Market Hypothesis that is based on the application of non-stationary fractional dynamics using an operator of the type
∂² / ∂x² − σ^q(t) * ∂ ^q(t)/ ∂t^q(t)

where σ⁻¹ is the fractional diffusivity and q is the Fourier dimension which, for the topology considered, (i.e. the one-dimensional case) is related to the Fractal …

The Effect Of Intellectual Property Protection On Economic Growth, Andrew Jonathan Mahurin

Masters Culminating Experiences (1993-2011)

This paper tests whether stronger intellectual property protection is good for a country. It focuses on the overall effect of intellectual property protection on per capita economic growth. To measure the strength of intellectual property protection, I use the Ginarte-Park index. An education and an investment variable are also included in the models.

The models are based on simple linear regressions involving a cross-section of countries. The models consistently showed a negative correlation between intellectual property protection and per capita economic growth. Moreover, I tested to see if the effect is different in some countries than in others, based on …

Economic Development: The City Of West Carrollton's Pathway To Growth, Christian J. Hansen

Masters Culminating Experiences (1993-2011)

This report is an overview of an economic development internship with the City of West Carrollton, Ohio, a suburb of Dayton, Ohio. The first section explores the City’s administrative roles and structure. The second section contains a Strength, Weakness, Opportunity, and Threat (S.W.O.T.) analysis, which evaluates the City’s current economic factors. Next, the Location Quotient (L.Q.) method quantifies the area’s industry makeup. Summarized is the SWOT analysis and Location Quotient in a listing of industry recommendations based on economic growth trends. The third section is a discussion of Tax Increment Financing (TIF) as an economic development instrument. A cost versus …

Has Vietnam Dumped Its Shrimp In The United States?, Huyen Khanh Nguyen

Masters Culminating Experiences (1993-2011)

This paper examines the shrimp anti-dumping case between the United States and six target countries in 2004. It focuses on the final announcement by the U.S. Department of Commerce that Vietnam, one of the six targets, dumped shrimp in the U.S. and suffered anti-dumping tariffs. The paper provides specific evidence about the shrimp market in the U.S. and Vietnam as well as broad analysis about the methods applied in the U.S. anti-dumping investigation. The final conclusion is that irrationalities still exist in the treatment by the U.S. with its different trade partners, without which Vietnam should not have been blamed …

An Analysis Of The Influence Of Ceo Characteristics On Research And Development Expenditures In Large American Corporations (2005 Data), Sun Gu Lee

Masters Culminating Experiences (1993-2011)

This study analyzes the influence exerted by CEO characteristics (specifically, CEO stockholding percentages and CEO age) on research and development (R&D) expenditures in large American corporations over the twenty year period from 1986 to 2005. Using the Herfindahl-Hirschman Index (HHI) to measure market share concentrations, and making specific reference to two Schumpeterian hypotheses on the correlation between R&D and increases in firm size, this study establishes a positive linear relationship between the dependent variable, R&D expenditure, and the independent variables of CEO stockholding, CEO age, firm size, and market share. This study next describes the corporate and market conditions which …

Poverty Volatility And Macroeconomic Quiescence, Philip N. Jefferson

Economics Faculty Works

No abstract provided.

The Effect Of Changes In The Federal Funds Rate On Stock Markets: A Sector-Wise Analysis, Kunaey Garg '08

Honors Projects

The federal funds rate is an indicator of monetary policy that investors in the stock market scrutinize very closely. This paper determines the relationship between changes in the federal funds rate and sector stock indexes. The paper goes on to determine why particular sectors are more sensitive to interest rate changes than others. Weekly returns of the Dow Jones ICB classified financial, energy, utilities, materials, industrials, consumer goods, consumer services, information technology, health care and telecommunications sectors are analyzed using separate OLS regression models for each sector. The results show that the utilities, financials, telecom and basic materials sectors are …

The Effect Of Gender Inequality On Growth: A Cross-Country Empirical Study, Quentin Brummet '08

Honors Projects

Recently, a large amount of economic literature has focused on the empirical determinants of economic growth, especially the impact of human capital. These studies have established that human capital is a very significant determinant of growth. However, relatively few studies have examined the effect of misallocation of human capital on the basis of gender. Furthermore, those that study gender inequality consider different measures of inequality, different control variables, and different data sets. This study attempts to investigate the robustness of these previous findings. Using OLS regressions and more recent data than past studies, the results highlight the fact that cross …

Microfoundations And Critique Of Nc Methodology Talk, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2008, September 30). Sim & P___(?) microfoundations paper: Homogeneous, heterogeneous, whimsical, and mutate models [Handwritten notes]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (n.d.). Preference theory, utility function, and cardinal utility [Handwritten notes, citing Ferguson & Hargreaves-Heap]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (n.d.). Notes on microfoundations: Aggregation is transformation [Typed outline covering utility theory, rational choice, game theory, and the representative agent]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (2008, September 4). Notes on microfoundations [Manuscript discussing the aggregation problem and the representative agent]. Anwar Shaikh, PhD, personal archives.

• Shaikh, A. (n.d.). Heterogeneity …

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