Economics Commons^™

2009-3 How Large Are The Impacts Of Carbon Motivated Border Tax Adjustments?, Yan Dong, John Whalley

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

2009-2 The Effects Of Asset Price Changes On Economic Security In Canada, 2005-09, James B. Davies

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

2009-1 The Level And Distribution Of Global Household Wealth, James B. Davies, Susanna Sandström, Anthony Shorrocks, Edward N. Wolff

Economic Policy Research Institute. EPRI Working Papers

No abstract provided.

2009-2 Lucas, Keynes, And The Crisis, David Laidler

Department of Economics Research Reports

No abstract provided.

2009-1 Social Security, Differential Fertility, And The Dynamics Of The Earnings Distribution, Kai Zhao

Department of Economics Research Reports

No abstract provided.

A Correspondence-Theoretic Approach To Dynamic Optimization, C. D. Aliprantis, Gabriele Camera

Economics Faculty Articles and Research

This paper introduces a method of optimization in infinite-horizon economies based on the theory of correspondences. The proposed approach allow us to study time-separable and non-time-separable dynamic economic models without resorting to fixed point theorems or transversality conditions. When our technique is applied to the standard time-separable model it provides an alternative and straightforward way to derive the common recursive formulation of these models by means of Bellman equations.

Cooperation Among Strangers Under The Shadow Of The Future, Gabriele Camera, M. Casari

Economics Faculty Articles and Research

We study the emergence of norms of cooperation in experimental economies populated by strangers interacting indefinitely. Can these economies achieve full efficiency even without formal enforcement institutions? Which institutions for monitoring and enforcement facilitate cooperation? Finally, what classes of strategies do subjects employ? We find that, first, cooperation can be sustained even in anonymous settings; second, some type of monitoring and punishment institutions significantly promote cooperation; and, third, subjects mostly employ strategies that are selective in punishment.

Public Spending On Education And The Incentives For Student Achievement, William Blankenau, Gabriele Camera

Economics Faculty Articles and Research

We build a model where homogeneous workers can accumulate human capital by investing in education. Schools combine public resources and individual effort to generate productive skills. If skills are imperfectly compensated, then in equilibrium students may under-invest in effort. We examine the effect on human capital accumulation of three basic education finance policies. Increased tuition subsidies may not be beneficial because they increase enrollment but they may lower the incentives for student achievement, hence the skill level. Policies directed at enhancing the productivity of education or making degrees more informative are more successful at improving educational outcomes.

No. 51: Migrant Remittances And Household Survival In Zimbabwe, Daniel Tevara, Abel Chikanda

Southern African Migration Programme

Migrant remittances are now recognised as an important source of global development finance and there is increasing evidence that international remittances have considerable developmental impacts. The contribution of remittances to GDP in many developing countries is significant and has shown a steady increase over the past decade. However, while there is a consensus that remittance flows to Africa are increasing, little attention has been paid to the impact of these transfers on poverty alleviation, primarily because of data deficiencies at the household level. Despite their obvious magnitude, accurate data on remittance flows to Zimbabwe is unavailable or inaccessible. In an …

Can Non-State Certification Systems Bolster State-Centered Efforts To Promote Sustainable Development Through The Clean Development Mechanism, Jonathan G.S. Koppell, Kelly Levin, Benjamin Cashore

Publications from President Jonathan G.S. Koppell

Increasing economic globalization has coincided with the emergence and escalating influence of non-state actors and organizations in domestic and international policymaking, from shaping policy agendas to promoting private authority. The latter phenomenon has arisen, at least in part, from a critique of states' failures to adopt effective and enduring environmental policies. Rather than contest "command and control" institutions, non-state strategies embrace market approaches built around incentives and price mechanisms. Several forms of non-state authority have emerged, including corporate social responsibility, provision of information through labeling, and self-reporting.

2009 American Incentive System Almanac, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

The 30th Anniversary, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

Tolls, Exchange Rates, And Borderplex Bridge Traffic, Marcycruz De Leon, Thomas M. Fullerton Jr., Brian W. Kelley

Departmental Papers (E & F)

Budget constraints are forcing many governments to consider implementing tolls as a means for financing bridge and road expenditures. Newly available time series data make it possible to analyze the impacts of toll variations and international business cycle fluctuations on cross-border bridge traffic between El Paso and Ciudad Juarez. Parameter estimation is carried out using a linear transfer function ARIMA methodology. Price elasticities of demand are similar to those reported for other regional economies, but out-of-sample forecasting results are mixed.

A Neuroeconomic Theory Of The Decision Process, John Dickhaut, Aldo Rustichini, Vernon L. Smith

ESI Publications

We develop a neuronal theory of the choice process (NTCP), which takes a subject from the moment in which two options are presented to the selection of one of the two. The theory is based on an optimal signal detection, which generalizes the signal detection theory by adding the choice of effort as optimal choice for a given informational value of the signal for every effort level and a cost of effort. NTCP predicts the choice made as a stochastic choice: That is, as a probability distribution over two options in a set, the level of effort provided, the error …

Part 5: Climate Change, Global Warming And Ocean Levels In Hampton Roads, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

To the extent that global warming occurs, it will bring with it rising sea levels, which, in the absence of new dikes and levees, will cover vast areas of the Peninsula and Norfolk, Chesapeake and the Virginia Beach oceanfront.

Front Matter: The State Of The Region: Hampton Roads 2009, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Cover, front matter, table of contents, and other materials for the 2009 The State of the Region report authored by the Regional Studies Institute at Old Dominion University

Part 1: The Regional Economy Contracts, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Defense spending continues to cushion our economic downturn, but two other major drivers, the port and tourism, have contracted. We also report stress tests for our major regional banks.

Part 3: The "Silver Tsunami": Residential Life And Care For Seniors In Hampton Roads, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

In recognition of our aging population, we present extensive data and ratings concerning 57 nursing home facilities, 104 assisted living facilities and eight continuing care facilities in Hampton Roads.

Part 2: The Hotel Industry In Hampton Roads, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Stagnant or declining patronage and excess capacity have made this a very challenging time for an industry that is vital to our future.

Part 4: Gasoline Prices, Carbon Emissions And Other Unpleasant Subjects, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Carbon emissions are on nearly everyone’s mind. We trace our regional carbon emissions and explore the ways (including higher prices) that we might deal with them.

Part 8: The Chrysler Museum In 2009, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

The Chrysler Museum of Art is one of the foremost cultural jewels of our region, but now faces challenges that stem both from significant economic constraints and internal reorganizations.

Part 6: Traffic Congestion In Hampton Roads: Identifying And Measuring Our Bottlenecks, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

A well-known national analysis of traffic congestion identifies the 15 worst choke points in Hampton Roads. Most of them are connected to our tunnels.

Part 7: The Tunnels That Connect Hampton Roads: Wonderful Assets Or Potential Achilles' Heels?, Regional Studies Institute, Old Dominion University

State of the Region Reports: Hampton Roads

Wonderful Assets or Potential Achilles’ Heels? The prosperity of our region depends upon five major bridge/tunnel installations, all of which potentially can be closed either by accidents or terrorism. As we recently have discovered, they are vulnerable to a variety of possible threats.

Econ Dept Material, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Ribarsky, J. (1997, November 6). Manufacturing finished goods inventories: Census series breaks and valuation methods [Email correspondence with Anwar Shaikh, PhD]. Washington, DC: Bureau of Economic Analysis, U.S. Department of Commerce.

• Shaikh, A. (1999, October 4). Imperfect competition and capacity utilization [Handwritten notes].

• Shaikh, A. (2009, June 10). Petition to upgrade the rank and salary of Barbara Herbst [Email to department faculty]. New York, NY: The New School for Social Research.

• Reddy, S. (2009, June 10). Letter for Barbara Herbst [Email to Anwar Shaikh, PhD; annotated with handwritten notes]. New York, NY: The …

Stock Market Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A. (1999, May 29). Graph: Profit rates on net K, new BEA series [Graph]. Manuscript in possession of the author.

• Shaikh, A. (1999, May 29). Graph: Comparison of Est KRGnew and KRGold for the corporate sector [Graph]. Manuscript in possession of the author.

• Shaikh, A. (1999, May 18). FS vs. Stock Mkt Too High? Discussing fundamentals, arbitrage, and Shiller's demonstration [Manuscript notes]. Manuscript in possession of the author.

• Shaikh, A. (1999, May 13). Warranted price-earning ratio on stock market [Manuscript notes]. Manuscript in possession of the author.

• Shaikh, A. (1997, July …

Integrating Quantitative Reasoning Initiatives With Writing Programs: A Strategy For Effective Program Development, Nathan Grawe, Carol Rutz

Economics Faculty Work

As an inherently interdisciplinary endeavor, quantitative reasoning (QR) risks falling through the cracks between the traditional “silos” of higher education. This article describes one strategy for developing a truly cross-campus QR initiative: leverage the existing structures of campus writing programs by placing QR in the context of argument. We first describe the integration of Carleton College’s Quantitative Inquiry, Reasoning, and Knowledge initiative with the Writing Program. Based on our experience, we argue that such an approach leads to four benefits: it reflects important aspects of QR often overlooked by other approaches; it defuses the commonly raised objection that QR is …

The Effects Of Market Sentiment On Crude Oil Futures Markets, Nathan Somayaji

Honors Theses

This paper uses a behavioral finance approach to examine the effect of psychological factors on pricing in futures markets. Specifically, I assess the impact of the contemporaneous market sentiment on price discovery in crude oil futures markets. A considerable amount of previous research has shown that futures prices in crude oil markets lead spot prices, as futures act as a mechanism for determining spot prices. My analysis addresses whether the lead-lag relationship between futures and spot varies with differing market sentiment. I hypothesize that futures pricing will lead in times of increased uncertainty due to lower transactions costs and greater …

Moral Reasoning In Economics, Jonathan B. Wight

Economics Faculty Publications

The Teagle discussion analyzes why economics teachers have become overly narrow in their pedagogical perspectives, thus pulling back from fully supporting the liberal arts agenda. In Chapter 1, Colander and McGoldrick (p. 6) observe that the generalist approach that excites students by asking "big think" questions across disciplinary boundaries fails to generate new knowledge, while the narrow "little think" questions that can be answered often fail to develop the critical thinking skills necessary for liberal education. As one example, the authors cite the decline of moral reasoning in economics, which was once center stage in Adam Smith's analysis of society. …

The Influence Of Campaign Expenditures On Virginia House Of Delegates Electoral Success, Christopher Jones, James Monks

Economics Faculty Publications

For decades economists and political scientists have sought to identify variables that influence the electoral success of public officials. Most of the existing literature focuses on the determinants of federal elections. This study examines elections to the Virginia House of Delegates and finds that campaign expenditures, incumbency status, party affiliation, and district voting tendencies all are significant predictors of electoral success. Additionally, this study finds that the returns to campaign expenditures, in terms of the additional votes that they generate, vary based on incumbency, party affiliation, number of opponents in the race, and over time.

Do Adoption Subsidies Help At-Risk Children?, Kasey Buckles

University of Kentucky Center for Poverty Research Discussion Paper Series

Over half a million children in the United States are currently in foster care, many of whom are at risk for long-lasting emotional and health problems. Research suggests that adoption may be one of the more promising options for the placement of these children. The Adoption Assistance and Child Welfare Act of 1980, which provided federal funds for monthly adoption subsidies, was designed to promote adoptions of special-needs children and children in foster care.

Using data from the Adoption and Foster Care Analysis and Reporting Systems for 2000- 2006, I consider the effects of these adoption subsidies on children’s likelihood …