Economics Commons^™

Globalization And U.S. Wages: Modifying Classic Theory To Explain Recent Facts, Jonathan Haskel, Robert Z. Lawrence, Edward E. Leamer, Matthew J. Slaughter

Dartmouth Scholarship

This paper seeks to review how globalization might explain the recent trends in real and relative wages in the United States. We begin with an overview of what is new during the last 10-15 years in globalization, productivity, and patterns of U.S. earnings. To preview our results, we then work through four main findings: First, there is only mixed evidence that trade in goods, intermediates, and services has been raising inequality between more- and less-skilled workers. Second, it is more possible, although far from proven, that globalization has been boosting the real and relative earnings of superstars. The usual trade-in-goods …

India, An Asian Giant: A Compass For The Future, Norelene Pushpangadan

Theses

In the 65 years since India formalised its' independence from the British Empire the country has experienced an immense metamorphosis in all aspects of its economy. This current study is an analysis of what the possible future economic prospects are for India. As part of the research process, the researcher delved into the history of the economy, since its independence from British colonial power, to modern day focusing on particular aspects of the economy which were relevant to fulfilling the research question of; where does the economic future lie for India?

The current global economic crisis has in part been …

Law, Environment, And The “Nondismal” Social Sciences, William Boyd, Douglas Kysar, Jeffrey J. Rachlinski

Cornell Law Faculty Publications

Over the past 30 years, the influence of economics over the study of environmental law and policy has expanded considerably, becoming in the process the predominant framework for analyzing regulations that address pollution, natural resource use, and other environmental issues. This review seeks to complement the expansion of economic reasoning and methodology within the field of environmental law and policy by identifying insights to be gleaned from various “nondismal” social sciences. In particular, three areas of inquiry are highlighted as illustrative of interdisciplinary work that might help to complement law and economics and, in some cases, compensate for it: the …

Services Liberalization In The Philippines: A Capacity Needs Assessment For Aec 2015, Fernando T. Aldaba, Rafaelita M. Aldaba

Economics Department Faculty Publications

The paper aims to assess and determine the capacity-building needs required to liberalize trade in services in the Philippines. Through the ASEAN Framework Agreement on Services, the Philippines has committed to liberalize various sectors including air transport, maritime transport, construction, financial services, and telecommunications. The overall progress of services liberalization has been modest compared to trade in goods due mainly to constitutional restrictions, limitations on market access, and application of the national treatment principle. Apart from these constitutional and legal constraints, the other obstacles to services liberalization include high cost of doing business, inadequate infrastructure, and governance issues affecting the …

A System Dynamics Model For Simulating Ambulatory Health Care Demands, Rafael Diaz, Joshua G. Behr, Mandar Tulpule

VMASC Publications

Introduction: This article demonstrates the utility of the system dynamics approach to model and simulate US demand for ambulatory health care service both for the general population and for specific cohort subpopulations over the 5-year period, from 2003 to 2008. A system dynamics approach that is shown to meaningfully project demand for services has implications for health resource planning and for generating knowledge that is critical to assessing interventions.

Methods: The study uses a cohort-component method in combination with structural modeling to simulate ambulatory health care utilization. Data are drawn from the National Ambulatory Medical Care Survey and the National …

Merger Announcement Returns With Preparations, Sang-Hyun Lee

CGU Theses & Dissertations

This paper analyzes the relationship between the merger announcement returns and the bidding firms' preparations for mergers. In this study, merger preparations are defined as bidding firms' adaptive actions of changing their executives prior to mergers. An analysis of the relative effectiveness of merger preparations is conducted through event study for univariate tests. In addition, a regression for multivariate tests analyzes incentives for making merger preparations. The results of these studies indicate that (1) hiring of new executives from outside the target proves to be the most effective merger preparation, (2) firms who make merger preparations have higher returns, and …

Effective Popular Financial Reports: The Citizen Perspective, Juita-Elena (Wie) Yusuf, Meagan M. Jordan

School of Public Service Faculty Publications

The article presents a study that investigates the views of citizens on the efficiency of financial reports in the U.S. Researchers did a survey to discern the perspectives of respondents about the effectiveness of the said reports in informing other individuals about government finances. Moreover, results reveal that 80% of respondents believed that the reports are effective. [Associates Programs Source, EbscoHost database]

Are Low Wages Risk Factors For Hypertension?, J. Paul Leigh, Juan Du

Economics Faculty Publications

Objective: Socio-economic status (SES) is strongly correlated with hypertension. But SES has several components, including income and correlations in cross-sectional data need not imply SES is a risk factor. This study investigates whether wages-the largest category within income-are risk factors. Methods: We analysed longitudinal, nationally representative US data from four waves (1999, 2001, 2003 and 2005) of the Panel Study of Income Dynamics. The overall sample was restricted to employed persons age 25-65 years, n = 17 295. Separate subsamples were constructed of persons within two age groups (25-44 and 45-65 years) and genders. Hypertension incidence was self-reported based on …

Formal And Informal Care: An Empirical Bayesian Analysis Using The Two-Part Model, Juan Du

Economics Faculty Publications

Informal care provided to the elderly by their children is proposed as a less expensive alternative to institutional long-term care. This paper explores how the elderly's consumption of medical care changes in response to changes in the informal care they receive from their children. Many earlier studies have ignored both the endogeneity of informal care and the complicated nature of health care utilization data. This paper develops a two-part model with informal care treated as an endogenous regressor and imposes exclusion restrictions on the selection process. The model is fitted using the Bayesian Markov Chain Monte Carlo (MCMC) methods, in …

Reconnecting To Work: Policies To Mitigate Long-Term Unemployment And Its Consequences, Lauren D. Appelbaum Editor

Upjohn Press

The goal of this book is to enable a better understanding of the consequences of long-term unemployment and the policies that are needed to address it. The contributors present research that examines the psychological as well as economic consequences of experiencing a prolonged spell of joblessness. Included are discussions of policies to increase job creation and to get the long-term unemployed back into jobs.

Employment Growth From Public Support Of Innovation In Small Firms, Albert N. Link, John T. Scott

Upjohn Press

Link and Scott provide a statistical assessment of the employment growth associated with public support of R&D in small, entrepreneurial firms through the Small Business Innovation Research (SBIR) program.

Dragon Versus Eagle: The Chinese Economy And U.S.-China Relations, Wei-Chiao Huang Editor, Huizhong Zhou Editor

Upjohn Press

This book contains a group of papers that examine the complex and evolving economic relationship between China and the United States.

Online Pharmacy Brand Name Medicine Price Differentials In The United States And Mexico, Francisco Javier Pallares

Open Access Theses & Dissertations

The objective of this study is to further examine medicine price differences between the United States and Mexico. In particular, online pharmacy price differentials between the two countries have yet to be studied as closely as they have for other economies. The t-tests fail to reject the hypotheses of equal prices. However, the data is not normally distributed. A Wilcoxon test is performed to for the formal null hypothesis of price equality. The results indicate that medicines in online Mexican pharmacies are less expensive than their American competitors by a statistically significant margin.

Employers' Perceptions Of Factors Related To The Workforce Development Of Community Health Workers In El Paso, Texas: A Descriptive Study, Aurora Aguirre Polanco

Open Access Theses & Dissertations

Workforce studies are necessary for regional economic development and for having a diverse workforce that meets the communities' needs. Workforce studies explore the most salient factors of models aimed at balancing economic forces of supply and demand. Community Health Workers (CHWs) are frontline health workers recognized by both the United States (US) Department of Labor (DOL) and the Patient Protection and Affordable Care Act of 2010 (PPACA). CHWs' service is oriented towards health promotion and disease prevention; they deliver public health interventions.

External and internal factors to the US health care system such as health care and wealth disparities, changing …

The Hidden Limits Of The Charitable Deduction: An Introduction To Hypersalience, Lilian V. Faulhaber

Georgetown Law Faculty Publications and Other Works

Behavioral economics introduced the concept of salience to law and economics. In the area of tax policy, salience refers to the prominence of taxes in the minds of taxpayers. This article complicates the literature on salience and taxation by introducing the concept of “hypersalience,” which is in many ways the mirror image of hidden taxation. While a revenue-raising tax provision must be hidden for taxpayers to underestimate their tax bill, a revenue-reducing tax provision – such as a deduction, exclusion, or credit – must be more than fully salient for taxpayers to underestimate their tax bill. In other words, the …

An Empirical Analysis Of The Ciudad Juárez Homicides: The Impact Beyond An International Border, Pedro Nino

Open Access Theses & Dissertations

Homicides, induced by the drug war, in Ciudad Juárez drastically increased beginning in 2007. Few studies have been carried out which asses the economic impacts of crime and homicides. Furthermore, the existing literature lacks regional assessment efforts (Rios 2008). Because of geographical proximity and close economic ties, this paper reviews some of the potential impacts the Ciudad Juárez homicides may have on the El Paso regional economy. A time series data approach is employed to assess potential impacts on factors including the El Paso metro business cycle index, El Paso employment, and El Paso retail sales. Findings indicate that fluctuations …

The Effect Of Incubator Participation In Developed Market Direct Entry By Emerging Market Firms, Ebetuel Pallares-Venegas

Open Access Theses & Dissertations

Motivated by the increased resurgence of emerging markets, this dissertation draws from a milieu of academic disciplines and professional experiences to study a previously undocumented phenomenon. This study empirically measures the increase in emerging market firm (EMF) absorptive capacity obtained during their developed market entry by participating in incubators in the United States. This study lays out both a theoretical and an empirical model of product commercialization focusing on absorptive capacity and the moderating effect of incubator participation. The study employs a sample of high-technology firms from Mexico entering the United States during the time period from 2009 to 2011. …

Pakistan In 2011, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan’s economy remained sluggish in 2011 due to domestic political instability, energy shortages, deteriorating Pakistan-U.S. relations, global climate change, and internal security concerns.

The latest estimates show that for fourth year in succession GDP growth in 2011-12 will again fall below its long term growth rate. With population rising around 2 percent per capita income will increase by around 2 percent. This outcome is in sharp contrast to the 2002-07 period when per capita incomes were recording around 5 percent growth annually. Investment rate dropped to 13.4 percent ---its lowest level in last four decades. Fiscal imbalances arising out of …

Do International Corruption Metrics Matter? Assessing The Impact Of Transparency International's Corruption Perceptions Index, Omar Elemere Hawthorne

Graduate Program in International Studies Theses & Dissertations

This dissertation examines the impact of Transparency International's (TI), Corruption Perceptions Index (CPI) and whether or not the CPI and hence TI matter. It examines the impact of TI's CPI on policymakers. It explores three areas: world's political and economic responses and Jamaica's policy responses to the CPI. Jamaica is selected for a case study due to TI's high corruption perceptions index rating for the country: a country that legally has strong anti-corruption laws but, nonetheless, sees its CPI ranking worsen almost yearly.

This study comprises mixed methodologies, using both qualitative and quantitative measures to assess the impact of the …

Econometric Notes On Output And Capital, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2012, July 20). Handwritten notes titled Distance between market prices, POPs & direct prices. Unpublished manuscript.

• Shaikh, A. (n.d.). Handwritten notes titled Distance of random error. Unpublished manuscript.

• Shaikh, A. (2012, April 22). Generating market prices-value deviations [Paper with graphs]. Unpublished manuscript.

• Shaikh, A. (2011, January 3). Annotated version of Generating market prices-value deviations. Unpublished manuscript.

• Shaikh, A. (2011, January 11). Paper from the Mathcad file PRICEmktpricedev.xmcd exploring price deviations, including sections on price vectors, frozen and live graphs, and a scatter plot of market prices vs. price of production. Unpublished manuscript. …

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Argentinians Have Learned That An Active State Is Needed To Regulate Markets: Interview With Anwar Shaikh (Article In Spanish), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Torino, Manuel. 2012. Los argentinos han aprendido que es necesario un estado activo que regule los mercados: Interview with Anwar Shaikh. El Cronista, Ortodoxos vs. Heterodoxos section. Buenos Aires: El Cronista.
• Simonde de Sismondi, J.-C.-L. 1991. New principles of political economy: Of wealth in its relation to population, translated by Richard Hyse, excerpt from second book, chapter five, "Division of the national income between different classes of citizens," with translator's notes by Richard Hyse. New Brunswick, New Jersey: Transaction Publishers.

Inequality In Health Care Utilization And Equity: A Cross-Country Comparision Of Low And Middle Income Countries, Satis Chandra Devkota

Wayne State University Dissertations

This dissertation identifies the sustainable policies that can reduce disparity in health care utilization, education and income from the low and middle income countries represented by Albania, Nepal, Tajikistan and Tanzania. Concentration indices are used to calculate the income related inequality in health care utilization and education, and Gini index is used to calculate the inequality in income. Likewise, horizontal inequity index is used to test whether the principle of equal treatment for equal need and equal schooling for equal need is maintained in all countries under study. Finally, a mechanism is proposed for the first time in the literature …

Essays On The Effects Of Oil Price Shocks And Monetary Shocks On Labor Reallocation, Mohamad Badih Karaki

Wayne State University Dissertations

The debate regarding the asymmetric effects associated with oil and monetary shocks on the economy has revived interest in analyzing the channels of transmission that generate asymmetries in the response of economic activity to these shocks. This dissertation examines the role of the allocative channel in the transmission mechanism of oil shocks and monetary shocks on economic activity. Using methods by Kilian and Vigfusson (2011b), we analyze the impact of oil and monetary shocks on job creation and job destruction in manufacturing industries.

We found that an unanticipated positive oil price shock triggers costly reallocation of labor across sectors and …

Application Of An Adaptive Step-Size Algorithm In Models Of Hyperinflation, Olena Kostyshyna

Economics Faculty Publications and Presentations

An adaptive step-size algorithm [Kushner and Yin, Stochastic Approximation and Recursive Algorithms and Applications, 2nd ed., New York: Springer-Verlag (2003)] is used to model time-varying learning, and its performance is illustrated in the environment of Marcet and Nicolini [American Economic Review 93 (2003), 1476–1498]. The resulting model gives qualitatively similar results to those of Marcet and Nicolini, and performs quantitatively somewhat better, based on the criterion of mean squared error. The model generates increasing gain during hyperinflations and decreasing gain after hyperinflations end, which matches findings in the data. An agent using this model behaves cautiously when faced …

Subreption And Institutional Inquiry: Theoretical Philosophy And Evolutionary Thinking, John B. Hall, Alexander Dunlap

Economics Faculty Publications and Presentations

With this inquiry we respond to William Dugger‘s assertion that ―[s]ubreption is one of the least studied social phenomena of the twentieth century.‖ Our research seeks to fill a gap in the literature by clarifying subreption, and its origins in Philosophy to its importance in social science, and, especially, Institutional Inquiry. We conjecture that Thorstein Veblen borrows form Immanuel Kant‘s understanding of Erschleichung. In this respect, Veblen‘s understanding and use of subreption serves as conduit between its use in Roman law, through Kant‘s understanding, and on to what Veblen later introduces as an approach creatively relied upon by three other, …

Veblen’S Predator And The Great Crisis, John B. Hall, Iciar Dominguez-Lacasa, Jutta Günther

Economics Faculty Publications and Presentations

With this inquiry we attribute cause for the current and “Great Crisis” to Veblen’s predator. After summarizing origins and manifestations of this crisis we juxtapose Veblen’s emphasis upon the predator to other potential causes for crisis and crises. Noted to have emerged when our stock of human knowledge provided for the creation of surplus, Veblen’s predator is presented as capable of metamorphosis and also driving evolution of our capitalistic system: whether this means emerging as the businessman in the “era of the machine,” or the investment banker promoting a financial metaphysics in the current “era of finance.”

Price Dynamics And Spatial Market Structure For Three U.S. Southern Pine Timber Products, Dekuwmini Mornah

Electronic Theses and Dissertations

Evidence of price correlations or cointegrations in timber markets is often interpreted as indicative of the competitiveness and efficiency of these markets. This conclusion is based on the assumptions that firms price F.O.B. and F.O.B. pricing in spatial markets is expected to yield results analogous to the usual competitive results in spaceless markets (i.e., firms set price equal marginal cost plus transportation costs). Competitive arbitrage is the error correction mechanism assumed through which spatial markets are linked. This conclusion could be misleading. In the presence of significant intra-regional transportation costs between spatially dispersed markets, firms have an incentive to exploit …

Distressed Sales And Housing Prices: A Metro And Regional Analysis, Katherine Westbrook

Electronic Theses and Dissertations

Housing literature has consistently found a statistically significant, inverse relationship between foreclosures and housing prices. Such research has been primarily focused on specific, local markets. This thesis expands on the literature, featuring housing and macro data for 127 metropolitan areas. This thesis constructs hypotheses on the relationships between distressed sales and foreclosures in order to structure potential relationships between distressed sales and housing prices. Using dynamic panel models and time series analysis, this thesis finds both inverse and positive relationships between distressed sales and house prices. Additionally, this thesis finds that changes in distressed sales are only predictive of future …

Complexity, Innovation, And The Regulation Of Modern Financial Markets, Dan Awrey

Cornell Law Faculty Publications

The intellectual origins of the global financial crisis (GFC) can be traced back to blind spots emanating from within conventional financial theory. These blind spots are distorted reflections of the perfect market assumptions underpinning the canonical theories of financial economics: modern portfolio theory, the Modigliani and Miller capital structure irrelevancy principle, the capital asset pricing model and, perhaps most importantly, the efficient market hypothesis. In the decades leading up to the GFC, these assumptions were transformed from empirically (con)testable propositions into the central articles of faith of the ideology of modern finance: the foundations of a widely held belief in …

Securing Access To Lower-Cost Talent Globally: The Dynamics Of Active Embedding And Field Structuration, Stephan Manning, Joerg Sydow, Arnold Windeler

Management and Marketing Faculty Publication Series

This article examines how multinational corporations (MNCs) shape institutional conditions in emerging economies to secure access to high-skilled, yet lower-cost science and engineering talent. Based on two in-depth case studies of engineering offshoring projects of German automotive suppliers in Romania and China we analyze how MNCs engage in ‘active embedding’ by aligning local institutional conditions with global offshoring strategies and operational needs. MNCs thereby contribute to the structuration of field relations and practices of sourcing knowledge-intensive work from globally dispersed locations.Our findings stress the importance of institutional processes across geographic boundaries that regulate and get shaped by MNC activities.