Economics Commons^™

Being Surveyed Can Change Later Behavior And Related Parameter Estimates, Alix Peterson Zwane, Jonathan Zinman, Eric Van Dusen, William Pariente

Dartmouth Scholarship

Does completing a household survey change the later behavior of those surveyed? In three field studies of health and two of microlending, we randomly assigned subjects to be surveyed about health and/or household finances and then measured subsequent use of a related product with data that does not rely on subjects' self-reports. In the three health experiments, we find that being surveyed increases use of water treatment products and take-up of medical insurance. Frequent surveys on reported diarrhea also led to biased estimates of the impact of improved source water quality. In two microlending studies, we do not find an …

Theory Of Moral Sentiments 1759 Vs Theory Of Moral Sentiments 1790: A Change Of Mind Or A Change Of Constraints?, Maria Pia Paganelli

Economics Faculty Research

The 1790 edition of Adam Smith’s Theory of Moral Sentiments presents significant changes from the 1759 edition. In the 1790 edition Smith seems critical of the moral consequences of commerce. By focusing exclusively on the approbation generated by showing of material possession, I propose that the 1790 edition is just an updated edition of the 1759, and does not represent a change of mind Smith had. Writing The Wealth of Nations Smith realizes the constraints in poor pre-commercial societies are diferent from the constraints in rich commercial societies and therefore behaviors and consequences will differ. The apparent contrast between the …

Pennsylvania’S True Commonwealth: The State Of Manufacturing – Challenges And Opportunities (Full Report), Edward W. Hill, John R. Brandt, Iryna Lendel, Faith Noble, Ellen Cyran, Charles Post, Jim Samuel, Fran Stewart

All Maxine Goodman Levin School of Urban Affairs Publications

The Industrial Resource Center Network of Pennsylvania is the state’s affiliate of the National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership program. Both the IRC program and the MEP have longstanding traditions of self-assessment and evolution as ways of being accountable to the public and of promoting continuous improvement. The IRC program and the MEP are charged with helping manufacturing in general, and small to midsized manufacturers in particular, improve their competitive position. The IRC program uses the outcomes from these assessments to think about the challenges their constituents face due to rapid evolution in the globally competitive …

Defining And Measuring Green Fdi: An Exploratory Review Of Existing Work And Evidence, Stephen S. Golub, C. Kauffmann, P. Yeres

Economics Faculty Works

This paper was developed at the request of the OECD Working Party of the Investment Committee to document efforts to date to define and measure green FDI and to investigate the practicability of various possible definitions, as well as to identify investment policy restrictions to green FDI. It does so by reviewing the literature and existing work on the contributions of FDI to the environment; by providing a two-part definition of green FDI; and by discussing various assumptions necessary to estimate the magnitude of 'green' FDI.

The Relationship Between Company Size And Ceo Pay, Kevin F. Hallock

Economics Faculty Publications

The link between the size of the company and the pay of the CEO is one that is nearly impossible to make go away. One measure of the company-size-to-CEO-pay relationship is called elasticity by economists. It turns out that we can estimate the CEO compensation elasticity with respect to firm revenue, and this number is around 0.3. That is, for a 1% increase in company size, CEO pay goes up by about one-third of 1%, or for a 10% increase in company size, CEO pay goes up by about 3%. The relationship between organization size and top executive pay in …

Culture, Context, And The Taste For Redistribution, Erzo F. P. Luttmer, Monica Singhal

Dartmouth Scholarship

Is culture an important determinant of preferences for redistribution? To separate culture from the economic and institutional environment ("context"), we relate immigrants' redistributive preferences to the average preference in their birth countries. We find a strong positive relationship that is robust to rich controls for economic factors and cannot easily be explained by selective migration. This effect is as large as that of own household income and appears stronger for those less assimilated into the destination country. Immigrants from high-preference countries are more likely to vote for more pro-redistribution parties. The effect of culture persists strongly into the second generation. …

Testing For Breaks In Cointegrated Panels With Common And Idiosyncratic Stochastic Trends, Chihwa Kao, Lorenzo Trapani, Giovanni Urga

Center for Policy Research

In this paper, we develop tests for structural change in cointegrated panel regressions with common and idiosyncratic trends. We consider both the cases of observable and nonobservable common trends, deriving a Functional Central Limit Theorem for the partial sample estimators under the null of no break. We show that tests based on sup-Wald statistics are powerful versus breaks of size , also proving that power is present when the time of change differs across units and when only some units have a break. Our framework is extended to the case of cross correlated regressors and endogeneity. Monte Carlo evidence shows …

Northeast Ohio High-Technology Economy Report, Iryna Lendel, Sunjoo Park

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

The Ohio Bioscience Industry, 2000-2009, Ziona Austrian, Candice Clouse, Matthew Hrubey

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

North Central Indiana Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park

All Maxine Goodman Levin School of Urban Affairs Publications

This report is associated with "North Central Indiana Entrepreneurial Opportunity Survey Analysis"

North Central Indiana Entrepreneurial Opportunity Survey Analysis, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park

All Maxine Goodman Levin School of Urban Affairs Publications

This survey report is associated with “North Central Indiana Regional Analysis: Demographics, Economy, entrepreneurship and Innovation”

Northeast Indiana Entrepreneurial Opportunity Survey Analysis, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park, Joan Chase

All Maxine Goodman Levin School of Urban Affairs Publications

This survey report is associated with "Northeast Indiana Regional Analysis: Demographics, Economy, entrepreneurship and Innovation"

Northeast Indiana Regional Analysis: Demographics, Economy, Entrepreneurship And Innovation, Ziona Austrian, Merissa Piazza, Eli Auerbach, Sunjoo Park, Joan Chase

All Maxine Goodman Levin School of Urban Affairs Publications

This report is associated with "Northeast Indiana Entrepreneurial Opportunity Survey Analysis"

The Same Face Of The Two Smiths: Adam Smith And Vernon Smith, Maria Pia Paganelli

Economics Faculty Research

Going from personal to impersonal exchange seems to be a relevant feature that allows humans to develop complex societies and grow prosperous. Adam Smith's idea of moral imagination, embodied in the impartial spectator and achieved through sympathy, may integrate and complement today's evolutionary biology and experimental economic explanations, providing the missing key as to how we generate and internalize those rules of conduct that promote fair and cooperative behaviors.

Corrigendum To "A Gaussian Approach For Continuous Time Models Of The Short Term Interest Rate", Peter C. B. Phillips, Jun Yu

Research Collection School Of Economics

An error is corrected in Yu and Phillips (2001) (Econometrics Journal, 4, 210-224) where a time transformation was used to induce Gaussian disturbances in the discrete time equivalent model. It is shown that the error process in this model is not a martingale and the Dambis, Dubins-Schwarz (DDS) theorem is not directly applicable. However, a detrended error process is a martingale, the DDS theorem is applicable, and the corresponding stopping time correctly induces Gaussianity. We show that the two stopping time sequences differ by O(a2), where a is the pre-specified normalized timing constant.

Wage Subsidies In A Program For Economic Inclusion And Growth, Hian Teck Hoon

Research Collection School Of Economics

This paper is in three parts. The first part discusses the workings of a wage subsidy scheme in boosting employment and earnings of workers. The second part reviews the empirical evidence on the effectiveness of wage subsidy schemes in countries that have implemented them both as countercyclical policies as well as structural programs to boost long-term earnings and employment of low wage workers. The third part looks at Singapore as a case study of how wage subsidies have been used in a program for generating economic inclusion both in the context of growth as well as in the context of …

Explosive Behavior In The 1990s Nasdaq: When Did Exuberance Escalate Asset Values?, Peter C. B. Phillips, Yangru Wu, Jun Yu

Research Collection School Of Economics

A recursive test procedure is suggested that provides a mechanism for testing explosive behavior, date stamping the origination and collapse of economic exuberance, and providing valid confidence intervals for explosive growth rates. The method involves the recursive implementation of a right-side unit root test and a sup test, both of which are easy to use in practical applications, and some new limit theory for mildly explosive processes. The test procedure is shown to have discriminatory power in detecting periodically collapsing bubbles, thereby overcoming a weakness in earlier applications of unit root tests for economic bubbles. An empirical application to the …

Tops-Only Domains, Shurojit Chatterji, Arunava Sen

Research Collection School Of Economics

In this paper we consider the standard voting model with a finite set of alternativesA and n voters and address the following question: what are the characteristics ofdomains D that induce the property that every strategy-proof social choice functionf : Dn → A satisfying unanimity, has the tops-only property? We first impose aminimal richness condition which ensures that for every alternative a, there exists anadmissible ordering where a is maximal. We identify conditions on D that are sufficientfor strategy-proofness and unanimity to imply tops onlyness in the general case of nvoters and in the special case, n = 2. We …

Tops-Only Domains, Shurojit Chatterji, Arunava Sen

Research Collection School Of Economics

In this paper we consider the standard voting model with a finite set of alternatives A and n voters and address the following question: what are the characteristics of domains D" role="presentation">D that induce the property that every strategy-proof social choice function f:Dn→A" role="presentation">f:Dn→A satisfying unanimity, has the tops-only property? We first impose a minimal richness condition which ensures that for every alternative a, there exists an admissible ordering where a is maximal. We identify conditions on D" role="presentation">D that are sufficient for strategy-proofness and unanimity to imply tops onlyness in the general case of n …

Teaching Rebels, Filip Campante, Davin Chor

Research Collection School Of Economics

No abstract provided.

The Inadequacy Of Our Economic Agenda, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The government and opposition parties deserve the nation’s gratitude for sitting together to evolve a national consensus on finding solutions to the economic problems facing the country. My research suggests that the setting of long-term economic direction, continuity and consistency of economic policies, as well as the predictability and transparency of decision-making, are important factors that boost investor confidence and stimulate economic growth. Changes in political regimes, under those conditions, do not make any significant negative impact.

The present efforts by the federal government’s economic team to seriously discuss a 10-point economic agenda are highly commendable. But in my view, …

Why Does Tobacco-Control Spending Vary So Much Across States?, Michael L. Marlow

Economics

Although tobacco-control spending is considered an essential component of comprehensive programmes aimed at lowering smoking, substantial variation exists across states. This article examines if variation is systematically related to cross-state differences in smoking prevalence, holding other factors constant that are expected to influence spending. An econometric model is estimated which considers effects of tobacco-settlement revenues, income, unemployment, political party of the governor, state debt and smoking prevalence on tobacco-control spending in all states during 2000--2007. Estimations control for the possibility that spending and smoking prevalence are co-determined to clearly determine the causal link from prevalence to spending. Spending variation is …

When Will Us Employment Recover From The Great Recession?, Randall W. Eberts

Periodical Articles

No abstract provided.

State Of Ohio: Insurance Industry And Occupational Highlights, Ohio Board Of Regents, Wright State University, Center For Urban And Public Affairs

Economic Development

Over 7,000 business establishments in Ohio employ 120,626 people in the Insurance Industry. Employment is expected to grow 1% a year to 2015, adding 6,323 workers, outpacing the national growth rate. In an analysis of the top ten states by employment size and industry concentration, Ohio is expected to grow at the second fastest pace.

Every year, the Insurance Industry has roughly 2,000 job openings for new and replacement jobs. The core of the industry is found in five occupations: insurance sales agents; claims adjusters, examiners, and investigators; insurance underwriters; insurance appraisers, auto damage; and actuaries. For those five occupations, …

Economic Outlook, Emmanuel Opoku, Scott W. Fausti

Economics Commentator (1972- 2016)

No abstract provided.

New Mexico Labor Market Review 01-14-2011, 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 November 2011.

Nevada 2.0 Program And Speakers, University Of Nevada, Las Vegas

Nevada 2.0: New Economies for a Sustainable Future

Nevada 2.0: New Economies for a Sustainable Future was held on January 7, 2011, to explore opportunities to diversify Nevada’s economy by examining similar efforts in nearby states. It included presentations by guest speakers from Salt Lake City, Denver, Phoenix, and Dallas, as well as interactive panel discussions with Nevada business and political leaders to hone in on the next steps Nevada should take to move forward on new business expansion. For years, Nevadans have understood the need to diversify the state’s economy beyond tourism, construction, and mining. Yet, Nevada enjoyed an extended boom from simply enlarging its base economy. …

The Economic Impact Of The Sheep Industry In South Dakota; Abs 482 Class Experiences In South America (Brazil And Argentina), Gary Taylor, Martin Beutler

Economics Commentator (1972- 2016)

No abstract provided.

Financial Constraints On Corporate Goodness, Jeffrey D. Kubik, Jose A. Scheinkman, Harrison Hong

Economics - All Scholarship

We model the firm's optimal choice of capital and goodness subject to financial constraints. Managers and shareholders derive benefits over profits and social responsibility. Goodness is costly and its marginal benefit is finite; as a result, less-constrained firms spend more on goodness. We verify that less-constrained firms do indeed have higher social responsibility scores. Our empirical analysis addresses identification issues that have long plagued the corporate social responsibility literature, establishing the causality of this relationship using a natural experiment. During the technology bubble, previously constrained firms experienced a temporary relaxation of their constraints and their goodness scores also temporarily increased …

Efficiency Of The Welfare State: A Comparative Approach Using Data Envelopment Analysis, Jekabs Bikis

Faculty Publications - College of Business

As governments continue to evolve over the past century or so in their perceived role of providing economic security for their populations, a ubiquitous yet ill-defined concept of the welfare state is increasingly taking center stage in political and economic debates. With fiscal crises looming over the horizon in many parts of the world, the fingers of blame point with greater frequency to the welfare state as the entity which is contributing more to fiscal problems than to economic solutions. Reformation of the welfare state is rapidly becoming more likely and more urgent and this study proposes one mechanism for …