Economics Commons^™

Linking Compensation And Job Losses During A Recession, Kevin F. Hallock

Economics Faculty Publications

For more than 60 years, no permanent Lincoln Electric employee has been laid off for lack of work. 2010 marked the 10th consecutive year year that the company increased its dividend and stock price gains have fairly consistently outperformed the S&P 500 during the past five years. For most organizations, when costs need to be cut, shedding some workers is part of the solution. Work Sharing Unemployment Insurance tries to mitigate the negative repercussions of layoffs. Under WSUI, workers are eligible for a prorated fraction of unemployment insurance benefits. Proponents of WSUI contend that hiring, firing, and retraining costs are …

Does Inflation Targeting Matter For Output Growth? Evidence From Industrial And Emerging Economies, Andre V. Mollick, Rene Cabral, Francisco G. Carneiro

School of Economics and Finance Faculty Publications

This paper examines the effects of inflation targeting on industrial and emerging economies’ output growth over the “globalization years” of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of inflation targeting on real output growth. In dynamic models, the findings show strong output persistence in industrial economies, in which partial and full inflation targeting regimes have a positive long-run impact on growth. In emerging markets, only full inflation targeting policies have any output effect in the long-run. The results suggest that strict inflation targeting is needed to make the …

Quasi-Maximum Likelihood Estimation Of Discretely Observed Diffusions, Xiao Huang

Faculty Articles

This paper introduces a quasi-maximum likelihood estimator for discretely observed diffusions when a closed-form transition density is unavailable. Higher-order Wagner-Platen strong approximation is used to derive the first two conditional moments and a normal density function is used in estimation. Simulation study shows that the proposed estimator has high numerical precision and good numerical robustness. This method is applicable to a large class of diffusions.

The Effect Of Tax Increment Financing On Spillovers And School District Revenue, Jennifer A. Bossard

College of Business: Dissertations, Theses, and Student Research

Over the years the urban development financing tool known as Tax Increment Finance (TIF) has been a controversial topic as it relates to fiscal impacts on school districts. This study addresses an important question related to this issue. Does TIF affect non-TIF district property value within the school district? The question is explored by developing a theoretical model that describes the relationship between TIF and school finance and estimating an empirical model that tests the hypotheses stemming from the theoretical model. Although the results are mixed, there is some evidence that TIF does affect non-TIF district property value in the …

Asia And Global Governance, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The invitation by the Group of 7 countries (G7) to 12 more countries from various regions of the world and the EU and transform themselves into a Group of 20 countries (G20) is indeed a welcome step. The economic power relations have changed considerably in the past decade or so and it was therefore natural that the global governance architecture should begin to reflect this new reality. The efforts of the G20 in tackling the 2008/9 global crisis did indeed reinforce the efficacy of this initiative.

The question, going forward, is to examine whether G20 could become an effective coordinating …

Shared Growth, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

A number of media persons and commentators were pooh-poohing Pakistan’s impressive growth record between 2002-08. The criticism against the previous government ranged from the insinuation of fudging the numbers and faking the growth rate to the other extreme where it was acknowledged that growth had indeed taken place but it was making the rich richer and the poor poorer. The same groups are now assailing the democratically elected government for a dismal showing on growth rate. It seems that we as a country can never get it right. You are damned if you do it and damned if you don’t …

Richmond Iron: Tredegar's Role In Southern Industry During The Civil War And Reconstruction, Lisa Hilleary

History Theses & Dissertations

The American South contained few iron industries in the decades before the Civil War. Not until the Civil War did southern states produce significant quantities of vital industrial products, such as iron. Tredegar Iron Works in Richmond, Virginia, was a rare exception. Under the ownership of Joseph R. Anderson, the company established a national reputation for quality products. Prior to the war, Tredegar did business with northerners and with the Federal government. During the war, Tredegar became one of the main weapons suppliers to the Confederate military. Since this iron company physically and economically survived the war, Anderson regained many …

What Do Indexes Of Consumer Confidence Tell Us?, Marta Lachowska

Employment Research Newsletter

No abstract provided.

Tinjauan Buku: Menerawang Indonesia: Pada Dasawarsa Ketiga Abad Ke-21, Lana Soelistianingsih

Jurnal Ekonomi dan Pembangunan Indonesia

Menerawang Indonesia: pada Dasawarsa Ketiga Abad Ke-12 merupakan judul buku yang ditulis oleh Prof. (Emeritus) Dorodjatun Kuntjoro-Jakti, Ph.D. {Guru Besar Fakultas Ekonomi Universitas Indonesia, mantan Menteri Koordinator bidang Perekonomian era kepemimpinan Presiden Megawati Soekarnoputri- yang diluncurkan pada Selasa, 10 April 2012 lalu. Buku tersebut merupakan 'hadiah' pemikiran Pak Jatun yang selama ini dikenal sebagai salah satu ekonom Indonesia yang futuristic dengan bauran pemikiran yang multidispilin, tidak hanya melibatkan ekonomi- politik, tetapi juga keamanan dan sosial budaya.

Pengeluaran Pemerintah Daerah, Produktivitas Pertanian, Dan Kemiskinan Di Indonesia, Akbar Suwardi

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to determine the relationship between local government spending, agricultural productivity, and poverty in Indonesia for the period of 2005-2008. Using econometric models of the panel and panel- simultaneous, this study find the evidence that local government spending on infrastructure and education significantly affect agricultural productivity and poverty. The study also found that the value of multiplier effect of local government spending on poverty, roads is the largest, followed by education (the literacy rate) and irrigation.

Fenomena Fear Of Floating Nilai Tukar Di Indonesia Periode 1998-2007: Identifikasi, Alasan Ekonomi, Dan Implikasinya Terhadap Kebijakan Moneter, Budiasih Budiasih

Jurnal Ekonomi dan Pembangunan Indonesia

The stable fluctuation of Rp against the US$ during the free floating exchange rate regime in 2002-2007 raises the existence of fear of floating exchange rate phenomenon in Indonesia. The GARCH method is use to verify this phenomenon. Moreover, Time Varying Parameter and Error Correction Mechanism method shows the economic reason behind the Monetary Authority's response in stabilizing rupiah. Depreciation and increasing volatility of Rupiah raises inflation and bank Non-Performing Loans, while appreciation and increasing volatility of Rupiah, reduce the net export. Furthermore, Vector Autoregressive confirms the Monetary Authority respond to exchange rate shock through the interest rate policy for …

Konsumsi Energi Dan Pembangunan Ekonomi Di Asia Tenggara, Jahen Fachrul Rezki

Jurnal Ekonomi dan Pembangunan Indonesia

Economic development in the South East Asia, which is at the stage of industrialization, has high dependency on energy consumption. This paper examines the relationship between energy consumption and economic development in the region. Using cross-sectional data, this study find the relationship between energy demand and per capita GDP, population and industrial share of output. Oil contributes 80% to energy consumption followed by electricity and natural gas. The result also shows no evidence of relationship between economic crisis and energy consumption. It suggest diversification of energy use and promoting more efficient alternative energy source to increase economic growth.

Analisis Kesediaan Membayar Air Bersih Dan Sanitasi Rumah Tangga Di Indonesia, Watekhi Watekhi, Djoni Hartono, Rika Kumala Dewi

Jurnal Ekonomi dan Pembangunan Indonesia

Using Logistic Regression and Hedonic Price Model, this study aims to find the social-economic factors influencing the demand and willingness to pay (WTP) for clean water supply and proper sanitation. This study find that education and age of household head are the affecting factors. Also, it found that per capita expenditure affects the availability of access for sanitation and clean water for all household group. WTP for clean water and sanitation in urban is greater than in rural. In additions, WTP of non poor households are greater than poor household, except for urban area.

The Behavior And Choices Of Serial Bidders In M&A Transactions: A Prospect Theory Approach, Ahmed Essam El-Din El-Bakry

Theses and Dissertations in Business Administration

This paper investigates the impact of previous losses incurred by U.S serial bidders on their M&A strategic choices and premiums paid to acquire targets. The Hubris and Overconfidence theories suggest that managers tend to overpay as a result of exaggerating their ability to extract value and manage post-acquisition integration process between the acquiring firm and its target. Managerial overconfidence, which is signaled by conducting several acquisitions within a short time period or by other manager-specific investment attributes, has been shown to contribute to increasing premiums in M&A transactions and subsequent poor post-acquisition performance.

Experimental findings in the area of psychology …

Two Essays On The Effect Of Macroeconomic News On The Stock Market, Ajay Kongera

Theses and Dissertations in Business Administration

This dissertation uses macroeconomic variables. In the first essay I use macroeconomic variables to determine if these variables affect the market's returns and volatilities, and in the second essay I examine whether the 11-month returns can be explained by these variables.

Using macroeconomic variables and forecasts of these variables on a quarterly basis from the Survey of Professional Forecasters, I first develop macroeconomic surprise variables. The macroeconomic surprise variables are then modified by dispersion of forecasts to adjust for surprises from uncertainty. Dispersion adjusted forecast surprises have not been used extensively in the literature. I also use a monetary shock …

(Wp 2011-05) 'Til Recession Do Us Part: Booms, Busts, And Divorce In The United States, Abdur Chowdhury

Economics Working Papers

A general hypothesis regarding the impact of permanent income levels and business cycle fluctuations on divorce rate at the state level in the United States is analyzed in the paper. Using data for 45 states over the 1978-2009 sample period, the paper shows that the higher the level of transitory income, the higher is the incidence of divorce. In other words, divorce is pro-cyclical. Why do divorce decrease during recession and increase during expansion? When an economy is in crisis and people’s incomes are low, the cost of divorce will prevent a couple from divorcing irrespective of the quality of …

Pengaruh Transfer Pemerintah Pusat Terhadap Perilaku Fiskal Pemerintah Daerah Di Provinsi Kalimantan Timur, Erny Murniasih, M. Syarif Mulyadi

Jurnal Ekonomi dan Pembangunan Indonesia

Over the last decade of Indonesia's fiscal decentralization era, the amount of intergovernmental fiscal transfers has increased substantially. The increase of intergovernmental fiscal transfers is expected to reduce the burden of local economy without sacrificing the quality of public service. This study aims to investigate whether the block grant transfer affect the spending behavior of local government. Using Pool Least Square method and taking East Kalimantan Province as case study, this study found the existence of flypaper effect. This finding emphasize the view of any increase in block grant of transfer will only induce higher spending. Therefore, in order to …

Valuing Ecological Systems And Services, Robert Costanza, Ida Kubiszewski, David E. Ervin, Randall Bluffstone, Darrell Brown, Heejun Chang, Veronica Dujon, Elise F. Granek, Stephen Polasky, Vivek Shandas, J. Alan Yeakley, James Boyd

Institute for Sustainable Solutions Publications and Presentations

Making trade-offs between ecological services and other contributors to human well-being is a difficult but critical process that requires valuation. This allows both better recognition of the ecological, social, and economic trade-offs and also allows us to bill those who use up or destroy ecological services and reward those that produce or enhance them. It also aids improved ecosystems policy. In this paper we clarify some of the controversies in defining the contributions to human well-being from functioning ecosystems, many of which people are not even aware of.We go on to describe the applicability of the various valuation methods that …

Crowding-Out Effect Of The Current Food Stamp Subsidy Scheme, Yi Zhang

Research Collection School Of Economics

We construct a model to illustrate that the current food stamp subsidy scheme fails to achieve its stated aim due to the crowding-out effect. More specifically, if the household income is sufficiently low, only a corner solution exists, and a full subsidy is needed.

Sme Inc: Corporate Success And Social Good, Paul Lim, Brendan Barrett, Nils Steinbrecher, Tomoki Fujii, Ted Tschang, Lieven Demeester

Research Collection School Of Economics

Panel of experts share their views ranging from the definition of sustainable business to how governments should lead by example.

Growth, Opportunity, And Inequality: Some Empirics From Singapore, Kong Weng Ho

Research Collection School Of Economics

While the strategy of openness had earned Singapore rapid economic growth, upward social mobility, and possibly decreasing inequality in the early years of development, the more recent years has seen increasing inequality. With this inequality comes an underlying possibly diminished upward inter-generational mobility, due to skill-biased growth processes, skill-biased parental influence, liberalisation in the education industry, and structural changes in the society, which hurt the human capital accumulation of children in families under economic and intra-household stresses. In particular, paternal influence on educational aspirations and attainment is more pronounced than maternal influence. Non-Chinese and youths from disrupted families are worse …

Financial Development And Firms’ Growth In Textile Industry Of Pakistan: A Panel Data Analysis, Ijaz Hussain

Business Review

This discussion uses secondary data from “Balance Sheet Analysis (2000- 2009) of Joint Stock Companies Listed on the Karachi Stock Exchange published by Statistics Department of State Bank Of Pakistan” and covers a panel of 75 textile firms of textile industry in Pakistan . Findings of this study indicate that all explanatory variables included in our model have significant influence on firms’ growth. Lagged profitability and efficiency and financial development have statistically significant and positive impact on firms’ growth while financial leverage, size, risk, real cost of debt, energy crisis and abolishment of textile quota have negative impact. Acute energy …

Soziale Marktwirtschaft - Key To Economic Success Or Contradiction In Adiecto, Menno Aden

Business Review

German concept of Soziale Marktwirtschaft (social market economy, hereinafter SMW). A “system” would never explain everything. SMW therefore does not explain it all. But it is widely believed that SMW was the biggest single factor for the recovery of Germany after WW II and her performance ever since. It may be worthwhile to have a closer look at what SMW is about.

Firm Growth And Industrial Clusters: Implications For Latecomer Developing Countries, Babur Wasim Arif, Sajid Manzoor Asadi

Business Review

In developing countries, traditionally micro and small scale enterprises have remained present since ancient times. Certain regions excelled in production of specific items. The industrial clusters have grown in these regions spontaneously in response to the grown competition. The cluster formation process was informal as the governments in developing countries have not played an adequate role for cluster formation and enterprises’ networking. Due to absence of government leading role in clusters development , the majority of the industrial clusters in developing countries have not been able to enter from the initiation stage to the quality improvement stage with a very …

Impact Of Exchange Rate Depreciation On Domestic Output In Pakistan, Muhammad Afzal

Business Review

There is disagreement on the desirability of devaluation in the LDCs. Since the de-linking from USA dollar in January 1982, the Pakistan rupee has been losing its value vis-à-vis US dollar and other important currencies. The purpose of the paper was to see the response of domestic output to fiscal and monetary policies besides exchange rate and terms-of-trade. These policies have stable and long- run relationship with the domestic output. However, the impact of money supply and exchange rate is more robust than the other variables. Easy monetary policy has a favourable impact on domestic output. Fiscal discipline is the …

Aerospace And Aviation Workforce Strategy, Kristy Rochon, Wright State University Center For Urban And Public Affairs

Economic Development

Despite the struggling economy and the challenges that have plagued the commercial aviation market, the national Aerospace and Aviation industry has experienced growth from 2005 to 2009. U.S. Aerospace sales increased by 21 percent and profits increased by 29 percent. However, at the same time, aircraft production lines have contracted as a result of decreased defense spending over the past 15 years. This contraction has limited production surge capacity, an event that is looming as a result of aging aircraft in both the commercial and defense fleets. There is a window of opportunity for the State of Ohio to emerge …

The Effect Of Employer Health Insurance Offering On The Growth And Survival Of Small Business, Adela Luque, C. J. Krizan, Alice Zawacki

Upjohn Institute Technical Reports

No abstract provided.

Responding To Skeptics Of Early Childhood Programs As Local Economic Development, Timothy J. Bartik

Presentations

No abstract provided.

Evidence For A Peak Shift In A Humoral Response To Helminths: Age Profiles Of Ige In The Shuar Of Ecuador, The Tsimane Of Bolivia, And The U.S. Nhanes, Aaron D. Blackwell, Michael D. Gurven, Lawrence S. Sugiyama, Felicia C. Madimenos, Melissa A. Liebert, Melanie A. Martin, Hillard Kaplan, J. Josh Snodgrass

ESI Publications

Background: The peak shift model predicts that the age-profile of a pathogen’s prevalence depends upon its transmission rate, peaking earlier in populations with higher transmission and declining as partial immunity is acquired. Helminth infections are associated with increased immunoglobulin E (IgE), which may convey partial immunity and influence the peak shift. Although studies have noted peak shifts in helminths, corresponding peak shifts in total IgE have not been investigated, nor has the age-patterning been carefully examined across populations. We test for differences in the agepatterning of IgE between two South American forager-horticulturalist populations and the United States: the Tsimane …

Public Debt Management In The State Of Maine 1993 Through 2010, John B. Greenwood

Muskie School Capstones and Dissertations

An analysis of Maine's public debt position was undertaken in order to: 1) review the history of Maine's public debt position; 2) compare Maine's public debt position against the U.S. average; 3) determine whether Maine's public debt position has been doing progressively better, worse, or about the same; and 4) if possible, make immediate-future hypotheses about Maine's public debt position.