Economics Commons^™

The Effects Of Congressional Elections On Future Equity Market Returns, Vincent Louis Ovlia, David Lee Enke, Michael C. Davis

Engineering Management and Systems Engineering Faculty Research & Creative Works

As the primary entity responsible for new legislation, Congress is capable of enacting legislation that may affect future market returns. To examine potential effects, the percentage of the House of Representatives and Senate controlled by a political party is examined. Additionally, the effect on returns in a change in the percentage of seats gained or lost in Congressional elections is analyzed. To test both theories, a modified “partisan view” model is adopted. Results point to the fact that equity markets perform better in situations in which power is distributed between political parties.

Cointegration + Capital Stock, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2003, March; 2004, May 19). Cointegration and capital stock [Handwritten notes].

• Liang, G., & Shaikh, A. (2004, July 7). State space coefficient restrictions in EViews [Email printout].

• Moudud, J. K. (2005, April 4). Microfit 4.0 tutorial lessons [Software tutorial printouts with handwritten annotations].

• Shaikh, A. (2005, April 8). Hicksian adjustment [Handwritten notes].

• Shaikh, A. (2005, May 6). Pesaran bounds testing procedure [Handwritten notes].

• Shaikh, A. (2008, May 25). Basic model, error correction mechanism, and Cochrane–Orcutt [Handwritten notes].

• Shaikh, A. (n.d.). Tutorial lessons: Lessons in cointegration analysis [Printouts with …

Capacity Utiliz 11.08, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1999, May 21). Notes on capacity utilization measures. Typed notes with handwritten annotations comparing his direct measure of capacity utilization to conventional measures. Unpublished manuscript.

• Shaikh, A. (1984, March 30). Notes on capacity utilization measures. Handwritten notes outlining five basic measures in use. Unpublished manuscript.

• Atack, J., Bateman, F., & Margo, R. A. (2003). Capital deepening in American manufacturing, 1850–1880 (Working Paper No. 9923). Cambridge, MA: National Bureau of Economic Research.

• Shaikh, A. (2008). Handwritten notes on estimating capacity utilization, discussing the Pesaran et al. (2001) methodology, ADL models, technical change, and identification …

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Banking, Credit, Anwar Shaikh Phd

Archives of Anwar Shaikh

4:27 PM    

Claude responded: This collection includes:

This collection includes:

• Shaikh, A. (n.d.). [Handwritten folder label identifying contents as "Banking, credit"]. Unpublished manuscript note. New School for Social Research.
• Shaikh, A. (n.d.). [Handwritten working notes on banking and credit theory: three-scenario framework for banks and real economy, bonds, and combined case; system of equations for deposit rate i_D, loan rate i_L, profit rate r, and real wage wr; analysis of arbitrage conditions; derivation showing all three cases collapse to the same structure when savings deposits equal zero-coupon bonds; reference to Garegnani; notation regarding base rate as f(money market) …

Shikarpur Misc, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Gazdar, H., & Shaikh, A., PhD. March 26, 2008. Re: shikarpur. Unpublished email correspondence.

Trade Lecture, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Gallagher, K. P. (2008). Deal or no deal: Current proposals on international trade amount to deregulation in the developing world and protectionism for the rich. The Guardian.
• Barro, R. J. (1984). Changes in exchange rates and relative price levels, high inflation countries. In Macroeconomics. John Wiley and Sons.
• Machlup, F. (1950). Three concepts of the balance of payments and the so-called dollar shortage. Economic Journal, LX.
• Yeager, L. B. (1976). International monetary relations: Theory, history, and policy (2nd ed.). Harper and Row.
• Shaikh, A. (2008). Real exchange rate vs. adjusted rulcratio. …

Do Firms Have Short Memories? Evidence From Major League Baseball, Andrew Healy

Economics Faculty Works

When deciding what salary to offer an employee, a firm needs to predict that employee’s future productivity. One piece of information that a firm can use to predict productivity is the employee’s past performance record. Classical theory predicts that firms will effectively use the available information to choose an appropriate salary offer. Evidence from baseball contracts indicates, however, that memory-based biases influence salary offers. Consistent with insights from psychology and behavioral economics, salaries are affected too much by recent performance compared with past performance. All organizations do not suffer equally from short memories. The teams that achieve the most with …

The Moral High Ground: An Experimental Study Of Spectator Impartiality, James Konow

Economics Faculty Works

This paper proposes and tests an empirical model of impartiality, inspired by Adam Smith (1759), that is based on the moral judgments of informed third parties (or spectators). The model predicts that spectatorship produces properties widely considered desirable in both the normative and descriptive literature of philosophy and the social sciences, namely, unbiasedness and consensus. This informs a vignette experiment that elicits moral judgments about real world policy issues while varying the information conditions (relevant and irrelevant information) and roles (spectator and stakeholder) of respondents across treatments. The results indicate that spectator views are unbiased, and that relevant information reduces …

Working After Welfare: How Women Balance Jobs And Family In The Wake Of Welfare Reform, Kristin S. Seefeldt

Upjohn Press

This book, tapping into the quantitative and qualitative evidence gathered in the Women’s Employment Study (WES), offers insights into the lives of women in an urban Michigan county who left welfare for work and the role their family decisions play in their labor market decisions.

Hedonic Housing Prices In Ciudad Juarez, Karen P. Fierro

Open Access Theses & Dissertations

Studies of the valuation of housing attributes abound. Empirical studies of this nature for Latin America and Mexico are less common. This study utilizes data for 175 new houses in Ciudad Juarez to estimate a hedonic pricing model. All units in the sample were completed and sold between November 2006 and April 2007. For each house, a total of fourteen characteristics, both structural and locational, are employed as explanatory variables. Empirical results indicate that the structural characteristics play a bigger role than the neighborhood amenities. Surprisingly, neighborhood parks are found to lower housing values

Social Economics: An Introduction And A View Of The Field, John B. Davis, Wilfred Dolfsma

Economics Faculty Research and Publications

No abstract provided.

Urban Watershed/Water Body Restoration - The Driving Forces, Vladimir Novotny, David E. Clark, Robert J. Griffin

Economics Faculty Research and Publications

Urban streams are used for several purposes. Some uses are conflicting and some are complementary. The use of urban water bodies and the resolution of conflicts is driven by anthropogenic and biocentric/ecocentric interests that must be optimized and the conflicts resolved. This article examines and analyzes land ethics (biocentric) and socio-economic (anthropocentric) drives for stream restoration of urban watersheds located in the Milwaukee (WI) metropolitan area. The basins experienced increased flooding, significant degradation of sediment and water quality, and loss of aquatic species, all due to urbanization. It was found that the primary drivers for restoration of urban streams are …

Land Tenure And Rental In Western Sudan, Michael Kevane, Leslie C. Gray

Economics

This paper reports on aspects of land tenure in western Sudan, especially the nature of tenure insecurity and the functioning of the land rental market. The active land rental market accounted for about one-third of cultivated land. Patterns of land rental transactions, and tests of the importance of insecurity in renting land, where the owner may not be able to reclaim land rented out, do not support the presumption that rental markets perform poorly. The role of the sheikh as administrator of village land, and the claims of large landowners to vast tracts, are, however, important political problems that must …

How Much Do Village Libraries Increase Reading? Results Of A Survey Of 10th Graders In Burkina Faso, Michael Kevane, Alain Joseph Sissao

Economics

This paper offers an estimate of the impact of small public libraries in villages in Burkina Faso on reading habits. A survey of secondary school students was conducted in March 2005. Students were selected in eight villages that matched the criteria ‘with library’ and ‘without library’. Overall the reading level of students in the sample was quite low, but the results indicate that the presence of a well-functioning library leads to an increase in reading on the order of 50%.

Eco 108 World Political Economy Lectures Iv & V, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2008). Eco108: World pol eco lecture iv: Inflation 1 lecture v: Inflation 2 [Unpublished manuscript].
• Shaikh, A. (2002). World political economy (GECO 5108) [Course syllabus].
• Sahr, R. (2006). US CPI, 1665–2007, in 1995-$ [Data set]. Oregon State University.
• Shaikh, A. (2005). Inflation vs total bank credit growth [Unpublished manuscript].
• Harberger, A. C. (1988). World inflation revisited. In E. Helpman, A. Razin, & E. Sadka (Eds.), Economic effects of the government budget (pp. 217-237). MIT Press.
• The Economist. (2005). Monetary conundrums: America's monetary policy is off target. The Economist, 374(8415), 12.
• Harberger, A. C. …

Agglomeration Economies And Geographic Concentration Of Manufacturing In Ukraine, Volodymyr Vakhitov

University of Kentucky Doctoral Dissertations

As a post-Soviet economy, Ukraine has inherited substantial production assets and qualified personnel. However, the economy was dominated by large-scale enterprises designed for much bigger markets. After the collapse of the Soviet Union Ukrainian firms faced lack of planning, breaks in contacts with their former suppliers and customers, and distortion of prices. There was a clear need in restructuring of the entire economy. Restructuring included splitting firms into smaller parts and privatization. The first phase of transition was completed by 2000 when the output grew for the first time after a long recession in nineties, and most firms became private …

Panel Data Techniques And The Elasticity Of Taxable Income, Seth H. Giertz

Department of Economics: Faculty Publications

This paper examines the elasticity of taxable income with a focus on income controls designed to control for divergence in the income distribution and mean reversion. Additional emphasis is placed on the difference between short-run and longer-run responses to tax rate changes. Several panel techniques are applied to tax return data for years 1991 to 1997, followed by a cross-section analysis covering the same period. For each panel regression, an innovative inverted panel regression framework is employed to test the efficacy of the controls for mean reversion apart from controls for divergence in the income distribution. Finally, cross-section (and repeated …

A Sensitivity Analysis Of The Elasticity Of Taxable Income, Seth H. Giertz

Department of Economics: Faculty Publications

This paper applies the methods of Gruber and Saez (2002) to a panel of tax returns spanning years 1979 through 2001 in order to examine the sensitivity of the elasticities of taxable and broad income to an array of factors. The paper finds that Gruber and Saez’s approach yields an estimated elasticity of taxable income (ETI) for the 1990s that is about half the size of my corresponding estimate for the 1980s. The paper finds that weighting regression results by income not only has a substantial impact on the estimates, but also results in overall estimates that are influenced by …

Taxable Income Responses To 1990s Tax Acts: Further Explorations, Seth H. Giertz

Department of Economics: Faculty Publications

This paper presents applications of variants of a differencing methodology to Internal Revenue Service tax records in order to estimate taxable income elasticities for the 1990s. Estimates are systematically examined by applying a number of sensitivity tests. Estimates are produced after altering the: (1) time interval over which observational-level behavior is measured; (2) income restrictions on the sample; (3) choice of control variables; and (4) weighting scheme used in the regressions. In general, estimates are quite sensitive to a number of different factors. In contrast to some of the literature, estimates are larger when behavior is measured over 3-year intervals …

Tax Reform And Charitable Giving, Seth H. Giertz

Department of Economics: Faculty Publications

Of the $240.7 billion donated to U.S. charities in 2003, 75 percent was from individuals. Of that total, $145.7 billion was taken as itemized deductions on federal income tax returns. In addition, non-itemizers and non-filers contributed $33.0 billion – contributions that received no special tax treatment. Under current law, only taxpayers who itemize may deduct from Adjusted Gross Income (AGI) their charitable donations in determining taxable income. In recent years, a number of different proposals have been put forth that would alter the tax treatment of giving by individuals. Some plans would extend a variant of the charitable deduction to …

Birth Spacing Effect On Children's Attainments: Indentification Using Instrument Variables, Jing Xie

Dissertations and Theses Collection (Open Access)

In this study, I address the relationship between an often overlooked dimension of family structure--the spacing between children's births--and the degree of children's attainments such as Mathematics, Reading Cognition and Reading Comprehension. Comparing to the results of OLS estimation, 2SLS Estimation using Twin and Catholic as Instrument Variables shows less significant effects on children's attainments. Hausman Test shows that OLS estimators are not consistent with 2SLS estimators, which means there is endogenous problem in OLS estimation. As the result in 2SLS shows the different spacing effects in different spacing groups, it is possible to use nonlinear estimation (quadratic form of …

Test For Infinite Variance In Stock Returns, Xian Ning Yan

Dissertations and Theses Collection (Open Access)

The existence of second order moment or the finite variance is a commonly used assumption in financial time series analysis. We examine the validation of this condition for main stock index return series by applying the extreme value theory. We compare the performances of the adaptive Hill's estimator and the Smith's estimator for the tail index using Monte Carlo simulations for both i.i.d data and dependent data. The simulation results show that the Hill's estimator with adaptive data-based truncation number performs better in both cases. It has not only smaller bias but also smaller MSE when the true tail index …

Customer Satisfaction And Service Quality In High-Contact Service Firm, Emilina R. Sarreal

DLSU Business & Economics Review

By taking attribute-based measures of service quality, this study establishes clear linkages between customer satisfaction (students) and quality (perception of their experience in the practicum program of the university). The results of this study clearly indicate that student satisfaction is more directly related to functional quality or process of service delivery. The delivery of service through implementation of clear policies and procedures contributed significantly to student satisfaction. The study recommends appropriate internal measures of efficiency and employee compensation as a means to ensure quality and customer satisfaction, and, as a whole, recommends a service marketing system for a high-contact type …

Application Of Accrual And Cash Accounting: Implications For Small And Medium Enterprises In Metro Manila, Cynthia P. Cudia

DLSU Business & Economics Review

This study aims to determine which between the two methods of accounting, accrual or cash method, is more applicable to SMEs in Metro Manila. Accordingly, this study aims to determine the factors that influence SMEs in Metro Manila to apply the chosen accounting method. Some implications of using accrual and cash accounting are specified. This includes implications on qualitative characteristics of financial information, on income statements and balance sheet, on SMEs’ liquidity and profitability positions, and implications of using cash/modified-cash basis converted to accrual basis at year-end. The results of the study provide insights on the applicability of the Exposure …

Income Statement Disclosures: An International Financial Reporting Standard Compliance Report Of Ten Selected Publicly Listed Corporations In The Manufacturing Industry, Rodiel C. Ferrer

DLSU Business & Economics Review

This study focuses on compliance audit of ten selected publicly listed corporations in the manufacturing industry. It seeks to ensure that the submitted financial statements of a business entity are in accordance with applicable laws and regulations set forth in the Philippine Accounting Standards. The review’s aim is to establish a recommendatory measure that may support the SEC and other bodies interested in promoting a more unified, synchronized financial report that may be easily understood; to facilitate evaluation; and to provide a uniform basis of financial reporting. As a supplement, it may be used as a tool to identify loopholes, …

Impairment Practices Of Selected Publicly-Listed Companies In The Philippine Mining Industry, Florenz C. Tugas

DLSU Business & Economics Review

As evidenced by new accounting standards, the advent of harmonization of accounting standards has caused a shift from historical basis accounting to fair value accounting. A bigger impact of this shift is manifested through revaluations and impairment. But recent events that concern complexities associated with the practical application of this standard have surfaced causing many companies to not full comply with its provisions. This study, therefore, attempts to investigate the compliance of ten selected companies belonging to the mining industry with provisions of PAS 36; and to determine existing impairment practices in the mining industry. Results reveal that selected companies …

Make Haste Or Waste: A Case Study On Predicting Bankruptcy Of Weyst Oyl Corporation Using Altman's Z-Score Model, Joy S. Rabo

DLSU Business & Economics Review

The motivation for research in corporate bankruptcy prediction is clear: the early detection of financial distress and the use of corrective measures are preferable to filing for protection under the bankruptcy law. This study analyzes if the application of Altman’s Z-score model will send a danger signal to the company management and contribute to the improvement of Weyst Oyl Corporation’s financial status. A used oil treating company established in 1978, Weyst Oyl Corporation, which has consistently been operating profitably for 17 years since its formation, decided in 1996 to acquire machinery which would increase plant capacity. It did so without …

Birthrate And Population Density As Predictors Of Quality Of Life, Jessica M. Young

Honors Program Theses

It is thought that economies can benefit from developing their members by providing more opportunities. Thus, when populations grow quickly or are large, quality of life may decrease due to fewer opportunities. To test this hypothesis, two studies were used to investigate correlations between population and quality of life variables. The first study considered U.S. states, while the second study examined countries. Population measures included birthrate and population density, as well as population growth rate for countries. State quality of life measures were: graduation rates, GDP, unemployment, poverty, violent crime rate, and income. Country measures were: life expectancy, literacy, GDP …

Additional Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta

Studies in Rio Grande Valley Regional History Series

Border birding, a poem / Chip Dameron -- The curse, a folktale / Peter Gawenda -- River boundaries of Texas : the Louisiana-Texas borderland and Lower Rio Grande Valley in comparative perspective 1700-1850 / Francis X. Galan -- Testamentos de Reynosa 1770-1820 / Pedro Antonio Campos Rodriguez -- La Guerra de 1847 y la inevitibilidad ‘retorica’ de la derrota / Arturo Zarate Ruiz -- The dead man’s bride, a folktale / Peter Gawenda -- Emmanuel Domenech in the Rio Grande Valley, 1851-1853 / Santiago Escobedo -- Don Juan Jose de Solis, Albert Champion, the border cattle raids, and the birth …

Don’T Gamble With New York’S Lottery, 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.