Economics Commons^™

The Role Of Sorghum In Food Security In Central America, Lloyd W. Rooney

INTSORMIL Presentations

Discusses the qualities of sorghum that make it suitable for human consumption, with a focus on its use in Central America.

Ce Spring 2011, Coyote Economist

Coyote Economist

Inside this Issue:

Staying Informed ....................2

We’re on Facebook .................4

Tentative Schedules ................4

The Poverty Of Wealth And Income In The United States, Luke E. G. Feudner

Professional Projects

An alternative poverty rate was calculated using poverty thresholds from the U.S. Census Bureau to assess income poverty and a similar set of thresholds at four months’ of the poverty threshold for annual income to assess wealth (i.e. net worth) poverty. Using point estimates derived from the multiple imputations of the Survey of Consumer Finances (SCF) between the years of 1989 and 2007, the findings revealed the percentage of households in poverty by both measures was 6% in 2007 compared to 11.1% of households experiencing poverty of income only and 22.4% experiencing a poverty of at least one of the …

Policy Relevant Heterogeneity In The Value Of Statistical Life: New Evidence From Panel Data Quantile Regressions, Thomas J. Kniesner, W. Kip Viscusi, James P. Ziliak

Economics - All Scholarship

We examine differences in the value of statistical life (VSL) across potential wage levels in panel data using quantile regressions with intercept heterogeneity. Latent heterogeneity is econometrically important and affects the estimated VSL. Our findings indicate that a reasonable average cost per expected life saved cut-off for health and safety regulations is $7 million to $8 million per life saved, but the VSL varies considerably across the labor force. Our results reconcile the previous discrepancies between hedonic VSL estimates and the values implied by theories linked to the coefficient of relative risk aversion. Because the VSL varies elastically with income, …

April 2011, Syracuse Department Of Economics

Economics - All Scholarship

No abstract provided.

Monopsony And Salary Suppression: The Case Of Major League Soccer In The United States, John Twomey, James Monks

Economics Faculty Publications

Top tier professional soccer in the United States is operated by Major League Soccer (MLS). The MLS was established and operates under a single entity structure, such that all players negotiate and sign contracts with the league rather than with individual teams. This monopsonistic structure was designed to eliminate competition for players across teams within the league and thus allow the league to suppress player salaries. This paper investigates how effective the MLS has been in achieving this goal and finds that the MLS devotes only about 25 percent of its revenues to player salaries, compared to 50 to 60 …

Cover - Table Of Contents

Major Themes in Economics

No abstract provided.

Introduction, Ken Mccormick

Major Themes in Economics

No abstract provided.

Rhode Island Current Conditions Index — April 2011, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

How Does Light Rail Transit Affect Urban Land Use?, Needham B. Hurst

Economics Honors Projects

This paper estimates the effect of the Hiawatha Light Rail Transit (LRT) line on land use change in Minneapolis, MN, between 2000 and 2010. I use a binomial logit model and find that within the 1-mile submarket near LRT, the effect of distance to LRT stations on land use change had a different radius and magnitude depending on existing land use. The effect of LRT on conversions of low-density housing to denser uses only extended out to 90 feet from stations after LRT went into operation. Vacant and industrial land were the most likely to experience land use change, especially …

Connecticut Economic Outlook For 2011-2012: A Perspective From Sacred Heart University Students In Business Economics, John F. Welch College Of Business

WCBT Undergraduate Publications

Final Research Project for EC392 – Economic and Financial Forecasting. Instructor: Dr. Lucjan T. Orlowski - Professor and Chair, Department of Economics and Finance, John F. Welch College of Business, Sacred Heart University.

As an undergraduate class in Economic Forecasting at Sacred Heart University in Fairfield, CT, we evaluated the overall health and well being of both the Connecticut as compared to the United States. We wanted to determine where the fiscal policy of the Nutmeg State should be going in the future by looking at outlook for the real Connecticut economy, labor market developments, the public sector, the housing …

Innovation And Employment, Hian Teck Hoon, Edmund S. Phelps

Research Collection School of Economics

Is employment higher in an economy that has a higher rate of innovation? In Hoon and Phelps (1997), we study this question in the small open, and closed, economy under the assumption that the rate of technological progress is exogenous to the economic system.In this paper, we reexamine this question in the context of a model with endogenous product innovation (and thus endogenous technological progress) and endogenous labor supply first in a small open economy taking the world interest rate as given and then ina closed economy that determines the whole term structure of the interest rate. In our present …

America's Turning Point, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Central Banking Beats Free Banking? It Just Ain’T So!, Fred Foldvary

Faculty Publications

No abstract provided.

The Crisis Of Unity In The 21st Century: The Unrealized Dream Of Pan-Africanism In Cameroon, Araba Sapara-Grant

Independent Study Project (ISP) Collection

The following is an analysis of how the sentiments of pan-Africanism, a notion formulated in the early 20th century, have failed to proliferate in Cameroonian society. As a concept based in the social, economic, and political solidarity of the African continent, the pan-African movement has often been a point of reference for intellectuals searching for a solution to the problems Africa currently faces, some of which include lack of political agency and stagnating economic growth. The beliefs promoted by pan-Africanists is that by joining together the collective potentials of all African people, the continent can become a global force, leaving …

Rising Food Prices In Kenya: How The Government And Its Citizens Are Coping, Or Not, Teresa Eilers

Independent Study Project (ISP) Collection

Kenya’s food prices are skyrocketing and the price of Kenya’s staple food, maize meal, is escalating fastest out of all food prices. The global market is experiencing rising food prices; but, Kenyans are paying dramatically more for their food compared to other global citizens. The Kenyan government can confront these rising prices by utilizing various policy change options. Unfortunately, the Kenyan government and Kenyan citizens must confront the causes to exorbitant maize meal prices to address the current food crisis in the country.

Entre Fronteras Historias Personales De Migración En El Austro De Ecuador, Hannah Johnson

Independent Study Project (ISP) Collection

Este estudio trata de las experiencias de personas migrantes retornados y sus familiares en las provincias australes de Ecuador, un país ubicado en América del Sur que tiene fronteras con Colombia al norte y Perú al este y al sur (véanse Figura 1). Desde los años 2000, la migración se ha vuelto un tema muy importante en el país—más de 2.5 millones de ecuatorianos viven en más que 55 países en cinco continentes.[1]^{, [2]} Aunque el tema de migración es de mucho importancia y discusión hoy en día, para entender la situación actual de migración en Ecuador, es …

El Rol Esencial De La Educación Y La Salud En La Estrategia Microfinanciera: Un Comentario Sobre El Neoliberalismo Contemporáneo, Julia Smith

Latin American Studies Honors Projects

Abstract

This thesis answers the question: “What is the relationship between microfinance and neoliberalism?” by arguing that microfinance is an effective strategy for poverty eradication and community development only when it is coupled with public education and health for all members of society. Therefore, countries need to change their policies in these areas to ensure that microfinance institutions are successful in ending poverty. This thesis engages with scholars such as David Harvey and Mohammed Yunus who provide the theoretical framework for neoliberalism and microfinance and more importantly with Milford Bateman and Yogendra Bahadur Shakya who argue that microfinance can never …

Do Foreign Direct Investment And Trade Openness Accelerate Economic Growth?, Donna Chan Wah Hak

Honors Projects in Economics

This research investigates the impact of trade openness and foreign direct investment (FDI) on economic growth. Using a framework proposed by Barro (1991), panel data regression analysis is performed on 5-year time periods between 1985 and 2005. A sample of 89 countries is analyzed using data collected from the World Development Indicators (WDI), Penn World Table, Barro and Lee (2010), and Polity IV Project datasets. The empirical analysis shows that conditional convergence occurs among the countries in the sample and that FDI net inflows per worker slightly increases the speed of conditional convergence. This study also finds evidence that FDI …

The Effects Of Natural Disasters On Donations To Non-Profits, Megan Mckenzie

Honors Projects in Finance

This study analyzes the relationship between natural disasters and donations to non-profit organizations in disaster-affected regions. Using regression analysis, this study seeks to determine the relationship based on various factors including the number of deaths, total number of people affected, the economic damage costs, and media coverage of a given disaster. The purpose of this study is to examine whether disaster-affected regions truly receive increased donations following a natural disaster, the sources of these donations (government grants versus private donations), the question of whether donations are diverted away from other non-profits in industries not related to relief efforts, the longevity …

Heckscher–Ohlin Theory When Countries Have Different Technologies, Eric O'N. Fisher

Economics

Rethinking the foundations of Heckscher–Ohlin theory when countries have different technologies, this paper shows how to make the proper adjustments for international productivity differences. The central tool is a factor conversion matrix that computes the local factor content of foreign Rybczynski effects. Factor-specific productivities are a special case of these more general linear relationships.

Empirical Foundations For The Resurrection Of Heckscher–Ohlin Theory, Peter Egger, Kathryn G. Marshall, Eric O'N. Fisher

Economics

We decompose the factor content of trade into Heckscher–Ohlin–Vanek trade and Ricardian trade. We measure factor content using only the United States' technology and also as Leontief advocated, using the local technology. In either case, differences in endowments are quite important in explaining the factor content of trade. If one uses raw estimated coefficients as a means of comparison, differences in endowments are ten times as important as differences in technology.

Mexico Consensus Economic Forecast, Volume 14, Number 2, Thomas M. Fullerton Jr., Carlos Morales, Francisco Pallares

Departmental Papers (E & F)

No abstract provided.

Pay Secrecy And Relative Pay, Kevin F. Hallock

Economics Faculty Publications

In March 2008, the Sacramento Bee began publishing the salaries of all California state workers, including public universities. UC Berkeley professors took this information and used it to learn about pay secrecy, relative income, and how people feel and react to knowing what their co-workers earn. It turns out that there is a dramatic difference in the response to new information about wages of co-workers, depending on whether an individual has wage and salary pay above or below the median for his or her workgroup. For those who earn below the middle of their group, the new information about the …

Wright State University Regional Economic Report, Spring 2011, Thomas L. Traynor

Economics Faculty Publications

No abstract provided.

Welfare Reform Policies And Their Effect On Poverty Rates Across The United States, Luke N. Welle

Political Science Theses and Capstones

We have all heard the arguments on the pros and cons of welfare reform, its effect on recipient’s lives, and its effectiveness in achieving its goals. In concluding whether or not it is effective in achieving its goals, the actual goals are broad and difficult to define. I consider the goal being reducing the number of citizens living in poverty. My research focuses specifically on how variations in the welfare system perform in reducing poverty rates across the United States. I investigate what governmental policies each state has in place and their effect on poverty. Those states, in which poverty …

Empirical Likelihood For Nonparametric Additive Models, Taisuke Otsu

Cowles Foundation Discussion Papers

Nonparametric additive modeling is a fundamental tool for statistical data analysis which allows flexible functional forms for conditional mean or quantile functions but avoids the curse of dimensionality for fully nonparametric methods induced by high-dimensional covariates. This paper proposes empirical likelihood-based inference methods for unknown functions in three types of nonparametric additive models: (i) additive mean regression with the identity link function, (ii) generalized additive mean regression with a known non-identity link function, and (iii) additive quantile regression. The proposed empirical likelihood ratio statistics for the unknown functions are asymptotically pivotal and converge to chi-square distributions, and their associated confidence …

Second-Order Refinement Of Empirical Likelihood For Testing Overidentifying Restrictions, Yukitoshi Matsushita, Taisuke Otsu

Cowles Foundation Discussion Papers

This paper studies second-order properties of the empirical likelihood overidentifying restriction test to check the validity of moment condition models. We show that the empirical likelihood test is Bartlett correctable and suggest second-order refinement methods for the test based on the empirical Bartlett correction and adjusted empirical likelihood. Our second-order analysis supplements the one in Chen and Cui (2007) who considered parameter hypothesis testing for overidentified models. In simulation studies we find that the empirical Bartlett correction and adjusted empirical likelihood assisted by bootstrapping provide reasonable improvements for the properties of the null rejection probabilities.

Robustness Of Bootstrap In Instrumental Variable Regression, Lorenzo Camponovo, Taisuke Otsu

Cowles Foundation Discussion Papers

This paper studies robustness of bootstrap inference methods for instrumental variable regression models. In particular, we compare the uniform weight and implied probability bootstrap approximations for parameter hypothesis test statistics by applying the breakdown point theory, which focuses on behaviors of the bootstrap quantiles when outliers take arbitrarily large values. The implied probabilities are derived from an information theoretic projection from the empirical distribution to a set of distributions satisfying orthogonality conditions for instruments. Our breakdown point analysis considers separately the effects of outliers in dependent variables, endogenous regressors, and instruments, and clarifies the situations where the implied probability bootstrap …

Quantile Regression With Censoring And Endogeneity, Victor Chernozhukov, Iván Fernández-Val, Amanda E. Kowalski

Cowles Foundation Discussion Papers

In this paper, we develop a new censored quantile instrumental variable (CQIV) estimator and describe its properties and computation. The CQIV estimator combines Powell (1986) censored quantile regression (CQR) to deal semiparametrically with censoring, with a control variable approach to incorporate endogenous regressors. The CQIV estimator is obtained in two stages that are nonadditive in the unobservables. The first stage estimates a nonadditive model with infinite dimensional parameters for the control variable, such as a quantile or distribution regression model. The second stage estimates a nonadditive censored quantile regression model for the response variable of interest, including the estimated control …