Economics Commons^™

The Nigerian Financial Crisis: Lessons, Prospects And Way Forward, Charles N. O. Mordi

Bullion

This paper x-rays the recent banking sector crisis in Nigeria, its resolution, lessons learned and way forward. The paper is divided into six main sections. Following the introduction, section 2 highlights country experiences of banking crisis and resolution options, while section 3 gives an overview of financial crisis in Nigeria; section 4 discusses the recent financial crises in Nigeria (2000-2009), while section 5 presents the 2009 banking crises and its causes. The most recent reform measures are discussed in section 6. ln sections 7 and 8, the lessons of experience and the way forward are presented, while the concluding remarks …

Northeast Ohio Regional Sewer District: Economic Impact Of Operating And Capital Expenditures, 2012– 2016, Ziona Austrian, Candice Clouse, Iryna Lendel

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Reforming The Nigerian Banking Sector: Some Emerging Issues., Biodun Adedipe

Bullion

When the ongoing reforms of banking in Nigeria commenced, there were several arguments against the seeming harshness of the measures. As the revelations increased, the argument became the manner the revelations were made. All these pointed to the capacity of humans to resist change. lt was generally accepted that things went terribly wrong and some drastic steps needed to be taken. This paper examines existing and emerging financial reforms in the Nigeria banking sector. The outcome of the greed-induced crisis was not peculiar to Nigeria, as banks failed all around the world as their capital was eroded. There are obvious …

A Dynamic Spatial Panel Data Approach To The German Wage Curve, Badi H. Baltagi, Uwe Blien, Katja Wolf

Center for Policy Research

A wage curve is a decreasing function of wages on the regional unemployment rate. Most empirical studies on the wage curve ignore possible spatial interaction effects between the regions which are the primary units of research. This paper reconsiders the western German wage curve with a special focus on the geography of labour markets. Spillovers between regions are taken into account. The paper tests whether the unemployment rate in the larger surrounding region also affects wages. In addition, agglomeration effects and effects of local monopsony are assessed. The main data base is a random sample of 974,179 employees observed over …

The Margins Of Multinational Production And The Role Of Intrafirm Trade, Alfonso Irarrazabal, Andreas Moxnes, Luca David Opromolla

Dartmouth Scholarship

In this paper we provide a quantitative analytical framework for analyzing trade and multinational production (MP), consistent with a set of stylized facts for trade and MP, among them that both exports and MP adhere to a gravity model. We propose a heterogeneous firm trade model where firms choose endogenously whether to serve foreign markets through MP or exports, where headquarters and affiliates are vertically integrated, and where firms face stochastic entry and demand shocks in each market. Using a unique firm-level data set on production, trade and MP, we establish key regularities about the entry and sales patterns of …

The Costs Of Municipal Curbside Recycling And Waste Collection, Thomas C. Kinnaman

Faculty Journal Articles

This paper estimates cost functions for both municipal solid waste collection and disposal services and curbside recycling programs. Cost data are obtained from a national survey of randomly selected municipalities. Results suggest, perhaps unsurprisingly, that both marginal and average costs of recycling systems exceed those of waste collection and disposal systems. Economies of scale are estimated for all observed quantities of waste collection and disposal. Economies of scale for recycling disappear at high levels of recycling - marginal and average cost curves for recycling take on the usual U-shape. Waste and recycling costs are also estimated as functions of factor …

(Wp 2010-04) Mäki On Economics Imperialism, John B. Davis

Economics Working Papers

This paper reviews Uskali Mäki’s epistemic analysis of economics imperialism formulated in terms of the science unification ideal and the three constraints on imperialism he develops. It then examines the phenomenon of 'reverse imperialism' associated with the influence of other fields on economics especially since 1980, and advances a core-periphery model of the identity of economics as a field made up of a collection of different research programs. The discussion returns to Mäki’s constraints framework to re-evaluate the 'economics' imperialism of individual research programs, and evaluates what we learn from Mäki’s three constraints. The paper concludes with a brief comment …

Mountain Monitor-2nd Quarter 2010, Jonathan Rothwell, Kenan Fikri

Mountain Monitor Quarterly

The Intermountain West exemplifies the peculiarities of the Great Recession and its subsequently fragile and protracted recovery. Where pre-recession growth in employment and housing prices was fastest, employment losses and housing price declines have been the most severe—in Las Vegas, Phoenix, and Boise most starkly. The profundity of the recession and sluggishness of the recovery have ensured that no metro in the region escaped unscathed, however, and in the second quarter even the best performers fell on some indicators. Perhaps most significantly for the region, housing prices are unlikely to keep falling much further. An analysis by Howard Wial and …

Envisioning Nevada’S Future: Goals & Strategies For Advancing Our Quality Of Life, Nevada Vision Stakeholder Group, Moody’S Analytics

Brookings Mountain West Publications

Nevada’s severe downturn has brought to light many of the long-term challenges facing the state. Not only is its economy subject to painful swings, but Nevada’s primary drivers— consumer services (primarily gaming, hospitality and housing) and resource extraction—will provide less support than they have in past business cycles. Less economic vitality will make it harder to offer Nevadans the quality of life they expect.

The importance of the economy to quality of life is equally clear—quality of life is a hollow promise without a healthy and supportive economy. Similarly, a proper fiscal structure—both in terms of spending and revenues—is critical …

Green Power Marketing In The United States: A Status Report (2009 Data), Lori Bird, Jenny Sumner

Publications (E)

This report documents green power marketing activities and trends in the United States. Aggregate green power sales data for all voluntary purchase markets across the United States are presented for 2009. The data presented in this report are based primarily on figures provided to NREL by utilities and independent renewable energy marketers. Because data cannot be obtained from all market participants, the estimates presented here likely represent an underestimate of the market size. Key trends identified in this year’s report include:
• In 2009, total retail sales of renewable energy in voluntary markets exceeded 30 million MWh, an increase of …

The Nasa Glenn Research Center: An Economic Impact Study Fiscal Year 2009, Iryna Lendel, Sunjoo Park

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Women's Work After War, Meredith A. Kleykamp

Upjohn Institute Working Papers

In the more than 30 years following the all-volunteer force (AVF), the proportion of women serving in the military has increased from 1.8 percent just before the AVF to 14.2 percent in 2008. The majority of women do not stay in the military for a 20-year or longer career; like men, most women only serve a few years before transitioning to the civilian workforce. Although the fraction of the military who are women has risen, as has the fraction of veterans who are women, little research informs how female veterans of the AVF fare economically after leaving service, or whether …

(Wp 2010-01) The Role Of Primary Commodities In Economic Development: Sub-Saharan Africa Versus Rest Of The World, Fabrizio Carmignani, Abdur Chowdhury

Economics Working Papers

We study the nexus between natural resources and growth in Sub-Saharan Africa (SSA) and find that SSA is indeed special: resources dependence retards growth in SSA, but not elsewhere. The natural resources curse is thus specific to SSA. We then show that this specificity does not depend on the type of primary commodities on which SSA specializes. Instead, the SSA specificity appears to arise from the interaction between institutions and natural resources.

(Wp 2010-02) The Demand For Historic Preservation, John I. Carruthers, David E. Clark, Michael Tealdi

Economics Working Papers

Historic preservation is commonly used to protect old buildings and neighborhoods from deterioration. In 1981, the City of Milwaukee established a historic preservation commission to develop and maintain a local register of places with historical importance to the area. The commission also reviews all applications for historic status as well as any requests for exterior alterations. As such, there are numerous rules and restrictions that are imposed on property owners once it has been declared a historic site. Thus, while historic designation can serve to internalize the externalities in neighborhoods with historic buildings, it also imposes costs on homeowners who …

(Wp 2010-06) How Do Structural And Policy Factors Affect A Country’S Probability To Achieve The Most (Or The Least) Favorable Growth Path?, Fabrizio Carmignani, Abdur Chowdhury

Economics Working Papers

We ask which economic policies can help a country create the most favourable conditions for development. We observe that the dynamics of several development indicators can be grouped into four clusters, each cluster corresponding to a different combination of growth and changes in inequality. Based on this observation, we define four different development scenarios and use limited dependent variable regressions to study how structural and policy factors affect a country’s probability to achieve the most (or the least) favourable of these scenarios. Our results point to a comforting picture: through the choice of appropriate policies countries can effectively increase their …

(Wp 2010-08) Neuroeconomics: Constructing Identity, John B. Davis

Economics Working Papers

This paper asks whether neuroeconomics will make instrumental use of neuroscience to adjudicate existing disputes in economics or be more seriously informed by neuroscience in ways that might transform economics. The paper pursues the question by asking how neuroscience constructs an understanding of individuals as whole persons. The body of the paper is devoted to examining two approaches: Don Ross’s neurocellular approach to neuroeconomics and Joseph Dumit’s cultural anthropological science organization approach. The accounts are used to identify boundaries on single individual explanations. With that space Andy Clark’s external scaffolding view and Nathaniel Wilcox’s socially distributed cognition view are employed.

(Wp 2010-09) Does Money Matter? An Empirical Investigation, Barry Huston, James M. Mcgibany, Farrokh Nourzad

Economics Working Papers

This paper uses a simultaneous-equations model of the new consensus macroeconomic model to examine whether the inclusion of the money stock in the aggregate demand function improves the statistical fit of the model. The results indicate that the consensus model is accurate for the U.S. in that the inclusion of money does not increase the predictive power of the model. However, the results reveal that the estimated coefficients are more robust when money is included as an instrumental variable in the simultaneous equations consensus model.

(Wp 2010-10) Assessing The Predictive Power Of Labor-Market Indicators Of Inflation, Farrokh Nourzad

Economics Working Papers

This paper examines two different measures of wages as predicators of prices in a vector error-correction framework using quarterly data for the U.S. for the period from 1947.Q1 through 2008.Q1. Based on cointegration and a series of exogeneity tests, it is found that: 1) there is a stable, long-run relationship between the Consumer Price Index (CPI) and the Personal Consumption Expenditure Deflator (PCED) on the one hand and unit labor costs (ULC) and average earnings per unit of output (AHE) on the other; 2) ULC is weakly exogenous for both price indices while the two price indices are weakly exogenous …

The Economic And Financial Policies To Fight Against Climate Change: The Case Of Maghreb, Nathalie Hilmi, Alain Safa

Topics in Middle Eastern and North African Economies

No abstract provided.

Banking In The Middle East Revisited Amid Turbulence In Financial Markets: The Case Of Egypt, Mine Cinar, Joseph Poulous

Topics in Middle Eastern and North African Economies

No abstract provided.

On The Dynamics Of The Business Environment, A. Suut Dogruel, Can Karahasan

Topics in Middle Eastern and North African Economies

No abstract provided.

Determinants Of Consumer Confidence In Emerging Economies: A Panel Cointegration Analysis, Sadullah Celik, Erhan Aslanoglu, Seda Uzun

Topics in Middle Eastern and North African Economies

No abstract provided.

Formal Versus Informal Labor Market Segmentation In Turkey In The Course Of Market Liberalization, Erdal Aydin, Mehtap Hisarciklilar, Ipek Ilkkaracan

Topics in Middle Eastern and North African Economies

No abstract provided.

The Geotourism Handbook: A Reference And Guide For Montana Businesses, Dylan Boyle, Norma P. Nickerson

Institute for Tourism and Recreation Research Publications

The handbook includes a basic background on geotourism, why it is beneficial to local residents and businesses, and what geotravelers are looking for when visiting the state. The handbook provides links to organizations and businesses who provide assistance and suggestions to the business owner on how to become a geotraveler business. Employees and business owners will be able to grasp the concept and take steps to become part of the comprehensive geo-management and marketing strategy which has been facilitated by the Montana Office of Tourism.

Reserve Prices In A Dynamic Auction When Bidders Are Capacity-Constrained, Viplav Saini

Faculty & Staff Scholarship

Allowing for a reserve price in a dynamic auction with capacity-constrained bidders changes the equilibrium in an unexpected way. The distribution of winning bids contains a mass point; several bidder types “bunch” at the reserve price.

A Robust Lm Test For Spatial Error Components, Zhenlin Yang

Research Collection School Of Economics

This paper presents previous termanext term modified previous termLM test of spatial error components,next term which is shown to be previous termrobustnext term against distributional misspecifications and previous termspatialnext term layouts. The proposed previous termtestnext term differs from the previous termLM testnext term of Anselin (2001) by previous termanext term term in the denominators of the previous termtestnext term statistics. This term disappears when either the previous termerrorsnext term are normal, or the variance of the diagonal elements of the product of previous termspatialnext term weights matrix and its transpose is zero or approaches to zero as sample size goes …

Labor Supply Responses To The 1990s Japanese Tax Reforms, Ken Yamada

Research Collection School Of Economics

The consumption-leisure choice model implies that an exogenous change in tax rates will induce a change in labor supply. This implication is expected to be important to labor supplied by secondary earners under a progressive tax system when spousal income alters effective marginal tax rates. This paper examines labor supply responses to the income tax changes associated with Japanese tax reforms during the 1990s. The results indicate that the hours-of-work elasticity with respect to the net-of-tax rate is 0.8 for married women.

Indescribability And Its Irrelevance For Contractual Incompleteness, Takashi Kunimoto

Research Collection School Of Economics

The incomplete contracts literature often cites indescribable contingencies as a major obstacle to the creation of completecontracts. Using agents’ minimum foresight concerning possible future payoffs, Maskin and Tirole (Rev Econ Stud 66:83–114, 1999) show that indescribability does not matter for contractual incompletenessas long as there is symmetric information at both the contracting stage and the trading stage. This is called the irrelevance theorem. The following generalization of the irrelevance theorem is shown here: indescribability does not matter even in the presenceof asymmetric information at the trading stage, as long as there is symmetric information at the contracting stage. This isan …

Fall Crop Insurance Considerations, Matthew Diersen

Economics Commentator (1972- 2016)

No abstract provided.

Leveraged Etfs: The Trojan Horse Has Passed The Margin-Rule Gates, William M. Humphries

Seattle University Law Review

What do the Great Depression, the Great Recession, and the demise of Lehman Brothers and Bear Sterns all have in common? One word: leverage. The misuse of leverage, in all its forms, contributed greatly to all of these events. Yet even today, common investors can purchase a leveraged exchange-traded fund (leveraged ETF), a complex product that uses leverage to increase returns, without triggering applicable laws designed to regulate the use of leverage. This Comment articulates the basics surrounding the functions and operations of leveraged ETFs and margin rules in order to assess the compatibility of the two. The Comment argues …