Economics Commons^™

Fits & Starts: The Difficult Path For Working Single Parents, Rebecca Loya, Ruth J. Liberman, Randy Albelda, Elisabeth Babcock

Center for Social Policy Publications

With dramatic shifts in the economy in recent years, it has become increasingly difficult for families to move into or stay in the middle class without access to higher education and skills training. Government-sponsored work supports help by providing direct assistance to working families to meet basic needs, such as child care, food, and housing. Yet, many supports do not reach low-wage working families in Massachusetts because of low eligibility thresholds, inadequate funding, limited availability, limited awareness, and numerous barriers to accessing such supports. Even for low-wage workers who do receive key work supports, such as subsidized child care and …

Slippery Slope? Assessing The Economic Impact Of The 2002 Winter Olympic Games In Salt Lake City, Utah, Robert Baade, Robert Baumann, Victor Matheson

Economics Department Working Papers

This paper provides an empirical examination of the 2002 Winter Olympic Games in Salt Lake City, Utah. Our analysis of taxable sales in the counties in which Olympic events took place finds that some sectors such as hotels and restaurants prospered while other retailers such as general merchandisers and department stores suffered. Overall the gains in the hospitality industry are lower than the losses experienced by other sectors in the economy. Given the experience of Utah, potential Olympic hosts should exercise caution before proceeding down the slippery slope of bidding for this event.

Relative Inflation-Forecast As Monetary Policy Target For Convergence To The Euro, Lucjan T. Orlowski

WCBT Faculty Publications

A monetary policy framework based on targeting a relative inflation-forecast is proposed for the economies converging to the euro. Such strategy aims at containing the differentials between the domestic and the implicit monetary union inflation-forecasts. Hence, these differentials become a basis for setting an operational policy target. The proposed framework can be viewed as an extension of flexible inflation targeting that prioritizes low and stable inflation over the exchange rate stability. It is believed to be consistent with the Maastricht convergence criteria and can be implemented in concurrence with the exchange rate stability benchmark for the ERM2. Several empirical tests …

Pakistan’S Trade Liberalization Experience: Lessons And Way Forward, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistanhas been one of the fastest growing economies inAsiafor last five years. Economic growth rates have risen from 1.8 percent in 2000/01 to average 6-7 percent a year. ForPakistanthese rates are not spectacular but a reversion to mean. It may be recalled that the average annual growth rate of GDP over 60 year period ofPakistanhas been 5.2 percent. Manufacturing sector output growth was over 15 percent, exports have doubled in US dollar terms in 5 years and an open trade regime has allowed imports to triple. Tax revenues have risen by 14 percent a year reducing fiscal deficit which used …

Pakistan's Trade Liberalisation Experience And The Way Forward, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The article reviews Pakistan's economic growth and trade liberalisation reforms over the preceding decade, noting reduced tariffs, eliminated quantitative restrictions and improved export performance. It draws five lessons from Pakistan's reform experience, including the importance of political stability, effective communication, inter-agency coordination, adaptable policy objectives, and institution building at provincial and local levels. The author also discusses prospects for greater regional trade integration with India and South Asia.

Borderplex Economic Outlook: 2008-2010, Thomas M. Fullerton Jr.

Border Region Modeling Project

No abstract provided.

The Role Of Northeast Ohio Central Cities In The Regional Economy, 2000-2007, Ziona Austrian, Candice Clouse, Eric J. Mundy, Frank Akpadock, Thomas Jr. Finnerty, John R. Bralich

All Maxine Goodman Levin School of Urban Affairs Publications

This report examines the four central cities in Northeast Ohio – Akron, Canton, Cleveland, and Youngstown — in the context of their metropolitan areas. A central city is the largest or most important city of a metropolitan area. A metropolitan area combines a large city with adjacent urbanized areas and peripheral areas that are closely bound to the center with strong ties to commuting, commerce, and a common labor market.

Aristotle's Difficult Relationship With Modern Economic Theory, Spencer J. Pack

Economics Faculty Publications

This paper reviews Aristotle's problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle's views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes …

Growth Is Good For Whom, When, How? Economic Growth And Poverty Reduction In Exceptional Cases, John A. Donaldson

Research Collection School of Social Sciences

Economic growth and liberal economic policies often help the poor, but what about the numerous cases in which they do not? This article analyzes two types of cases: those in which income growth of the poor was significantly lower than expectations (negative exceptions) and those in which income growth of the poor significantly exceeded expectations (positive exceptions). Insights from these cases inform our theoretical understanding of poverty reduction. In addition, this article contributes a typology of strategies used in these cases, including alternative pathways to economic growth and neoliberal prescriptions for poverty reduction.

The Revitalization Of Older Industrial Cities: A Review Essay Of Retooling For Growth, Timothy J. Bartik

Upjohn Institute Working Papers

This review essay debates the policy issues raised by the book Retooling for Growth: Building a 21st Century Economy in America's Older Industrial Areas, edited by Richard M. McGahey and Jennifer S. Vey (Brookings Institution Press, 2008). I argue that the main rationale for adopting policies to revitalize older industrial cities is to improve the per capita earnings of urban residents. Therefore, urban economic development policy should be seen as urban labor market policy. Increasing city residents' earnings requires progress on two fronts: increasing metropolitan labor demand; increasing the quantity and quality of the effective labor supply of city residents …

Future Fiscal And Budgetary Shocks, Hian Teck Hoon, Edmund S. Phelps

Research Collection School Of Economics

We study the effects of future tax and budgetary shocks in a non-monetary and possibly non-Ricardian economy. An (unanticipated) temporary labor tax cut to be effective on a given future date—a delayed “debt bomb”—causes at once a drop in the (unit) value placed on the firms' business asset, the customer, with the result that share prices, the hourly wage, and employment drop in tandem. This paradox of reduced activity through announcement of future “stimulus” does not hinge on an upward jump of long interest rates. A future tax-rate cut lacking a “sunset” provision has the same negative effects.

Testing For Parameter Stability In Quantile Regression Models, Liangjun Su, Zhijie Xiao

Research Collection School Of Economics

We propose a test for structural change of conditional distribution in dynamic regression models. The test is constructed based on time series regression quantile estimates and complements conventional parameter instability tests in least-square type regression models. Asymptotic distribution for our test under the null hypothesis is derived.

Can A Representative Agent Model Represent A Heterogeneous Agent Economy?, Sungbae An, Yongsung Chang, Sun-Bin Kim

Research Collection School Of Economics

Accounting for observed fluctuations in aggregate employment, consumption, and real wage using the optimality conditions of a representative household requires preferences that are incompatible with economic priors. In order to reconcile theory with data, we construct a model with heterogeneous agents whose decisions are difficult to aggregate because of incomplete capital markets and the indivisible nature of labor supply. If we were to explain the model-generated aggregate time series using decisions of a stand-in household, such a household must have a nonconcave or unstable utility as is often found with the aggregate US data.

Directed Altruism And Enforced Reciprocity In Social Networks, Stephen Leider, Markus M. Mobius, Tanya S. Rosenblat, Quoc-Anh Do

Research Collection School Of Economics

We conducted online field experiments in large real-world social networks in order to decompose prosocial giving into three components: (1) baseline altruism toward randomly selected strangers, (2) directed altruism that favors friends over random strangers, and (3) giving motivated by the prospect of future interaction. Directed altruism increases giving to friends by 52% relative to random strangers, whereas future interaction effects increase giving by an additional 24% when giving is socially efficient. This finding suggests that future interaction affects giving through a repeated game mechanism where agents can be rewarded for granting efficiency-enhancing favors. We also find that subjects with …

Income Volatility And Food Assistance In The United States, Dean Jolliffe Editor, James P. Ziliak Editor

Upjohn Press

This book provides a much-needed look at recent trends in income volatility and its effects on the design of and participation in the nation's food assistance programs.

New Mexico Labor Market Review 10-31-2008, New Mexico Department Of Workforce Solutions

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers September 2008.

Global Financial Meltdown: Genesis, Consequences, And Lessons, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

First of all let me thank ICAP for inviting me to this very important meeting. I feel that there is a lack of understanding of the global financial crisis, what its consequences are and more importantly what are the lessons. We all seem to believe in rhetoric, slogans and platitudes and one of the most popular platitudes these days is that ‘capitalism is dead’ and nationalization is the word which will prevail over the entire global finance. If we draw the wrong conclusions we are going to make even more mistakes and, therefore, it is important to put this in …

E-Commerce Patterns In South Asia: A Look Beyond Economics, Nir Kshetri, Nikhilesh Dholakia

College of Business Faculty Publications

Conflicting and complex forces are shaping the diffusion patterns of the Internet and e-commerce in South Asia. Drawing upon the literature on institutional theory, we explore the drivers and inhibitors of the Internet in South Asian countries. We examine the influence of the three pillars of institutions (Scott, 1995) on the digital world of South Asia. The paper discusses how regulatory, normative, and cognitive institution–such as laws, relationships, culture, and habit–have shaped the diffusion patterns of the Internet and e-commerce in South Asia.

The U.S. Economic Crisis And A Revised New Jobs Tax Credit, Timothy J. Bartik

Upjohn Institute Policy Papers

An efficacious economic stimulus to help the U.S. economy recover from its current recession is the revival of the New Jobs Tax Credit. Unlike the original credit utilized by the federal government in 1977– 1978, the new version should be a refundable credit but at a lower current dollar value. My 2001 book, Jobs for the Poor: Can Labor Demand Policies Help? proposed a permanent version f the New Jobs Tax Credit that would be automatically triggered when the unemployment rate is high. My estimates, updated to 2008, suggest that such a revised credit might increase aggregate U.S. employment by …

Nebraska’S Immigrant Population: Economic And Fiscal Impacts - Ollas Report No. 5, Christopher Decker, Jerry Deichert, Lourdes Gouveia

Latino/Latin American Studies Reports

Immigration issues have once again assumed center stage in policy circles at every level of government in the United States, as the number of new immigrants, many undocumented and many from Latin American nations, has risen markedly in recent years. This is certainly true in Nebraska. According to US Census figures for 2000, the total immigrant population in Nebraska was estimated to be 74,638. By 2006, this figure had risen to 99,500, a 33.3 percent increase. By comparison, the total native-born population in the state grew less than 2.0 percent over the same six-year period.

This study attempts to quantitatively …

Interest On Bank Reserves And Optimal Sweeping, David D. Vanhoose, Donald H. Dutkowsky

Economics - All Scholarship

This paper utilizes a profit maximizing banking model to analyze sweeping behavior. Comparative statics results indicate that sweeping responds positively to increases in bank loan rates and reserve ratios and negatively to increases in the interest rate on reserves or to exogenous increases in bank deposits or equity. Sweeping generates greater responsiveness in lending to changes in loan rates or the interest rate on reserves and lower responsiveness to exogenous changes in reserve ratios or equity. Empirical analysis of an explicit condition that we derive relating sweeping to the interest rate on reserves suggests with an unchanged reserve requirement, the …

The Effects Of Food Stamps On Exiting Welfare And Becoming Employed For Welfare Recipients, Charles Baum

University of Kentucky Center for Poverty Research Discussion Paper Series

Welfare reform’s success encouraging employment may be affected by the federal Food Stamp program because many households receive welfare and Food Stamps. Food Stamp benefits could discourage employment because benefits are reduced proportionally with income; alternatively, it could encourage employment by increasing stability and allowing more resources to be allocated toward employment-related expenses. I examine the effects of Food Stamps on exiting welfare and becoming employed for welfare recipients. Results suggest, if anything, that Food Stamps discourage employment, and such benefits may discourage transitions off welfare, too. If so, then it may be necessary to study the determinants of welfare …

Welfare Reform And Juvenile Arrests, Tami Gurley-Calvez, Bethany Claus Widick

University of Kentucky Center for Poverty Research Discussion Paper Series

Social policy, such as the legalization of abortion and the federal bans on lead in the 1970s, has been shown to significantly impact crime rates. With recent increases in juvenile arrests and violent crime rates, we explore whether further social policy—namely the 1996 Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) welfare reform—has had an impact on crime.

There are various mechanisms by which the Temporary Assistance for Needy Families (TANF) program, created by the 1996 PRWORA welfare reform, may influence criminal activity, especially among older children. Many welfare recipients were required to participate in work and education activities, which …

Rhode Island Current Conditions Index — October 2008, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Distributional Effects Of Programmatic Features Of Medicaid/Schip On Transitions From Private Insurance Coverage Among Us Low-Income Children: A Dynamic Approach, Adetokunbo B. Oluwole

University of Kentucky Center for Poverty Research Discussion Paper Series

The goal of this study is to evaluate the effects of Medicaid/SCHIP eligibility and programmatic features on transitions from private insurance coverage among samples of American low-income children using monthly data from the 2001 panel of the Survey of Income and Program Participation (SIPP), a nationally representative data set. The estimation approach combines multilevel modeling and event history analysis, including a robust array of variables measuring programmatic features, individual child, family, and state attributes. Logistic regression results do not indicate an adverse effect of expanded Medicaid/SCHIP eligibility on private insurance coverage. Results also suggest that states which established stand-alone SCHIP …

American Challenges, Jim Gomes

Mosakowski Institute for Public Enterprise

In the autumn of 2008, with the United States facing myriad problems both foreign and domestic and entering the final stage of a historic election, The Boston Globe asked Mosakowski Institute Director Jim Gomes to write a series of op-ed pieces about critical issues on the nation’s agenda. The result is the six columns collected here in American Challenges. “When I wrote these pieces,” said Gomes, “the country had entered a period of great uncertainty. So much of what had been taken as a given in the last half of the 20th century, from broadly shared prosperity to the health …

Improving Beekeeping On Unguja Island, Larken Root

Independent Study Project (ISP) Collection

The purpose of this study was to investigate the current practices and methods for improvement of beekeeping on Unguja Island in Zanzibar. Beekeeping has been occurring for many years in Unguja but has retained traditional techniques with little improvement. Improvement can occur in the form of introduction of modern equipment, formation of beekeeping organizations, advancing and diversifying products, and gaining governmental support. Beekeeping is worthy of expansion because of its potential to increase rural income in a sustainable way as well as support conservation of forest areas. The study found that there has so far been little improvement of income …

City Of El Paso: Cross Sectional Comparison Of Bilingualism In The Workplace, Elizabeth K. Gibson, Carlos Olmedo, Mario E. Caire

IPED Technical Reports

The Institute for Policy and Economic Development (IPED) at the University of Texas at El Paso conducted an analysis of bilingualism in the workplace between El Paso and other regions. This study, performed for the City of El Paso Department of Economic Development, highlights El Paso’s bilingual workforce in 22 occupational groups and 20 industry sectors and makes cross-sectional comparisons to 19 Metropolitan Statistical Areas (MSAs) that are in geographic proximity or contain a high number or percentage of Spanish-speaking populations. In addition, detailed occupations and detailed industries are reported for El Paso that offer English-Spanish bilinguals good wages, contain …

2008 Utep/Ut-Austin Football Game: Economic Impact On El Paso, Texas, David A. Schauer, Carlos Olmedo, Mario Caire, Guadalupe Corral, Dennis L. Soden

IPED Technical Reports

No abstract provided.

Strategies For Improving Economic Mobility Of Workers, Maude Toussaint-Comeau

Employment Research Newsletter

No abstract provided.