Economics Commons^™

An Empirical Estimate Of The Optimal Level Of Fiscal Deficit In Guinea, Emmanuel A. Onwioduokit

Economic and Financial Review

Excessive deficits, irrespective of the mode of financing, are assumed to be growth retarding. The conventional wisdom is that high budget deficit is a source of economic instability. Empirical research, however, does not conclusively support this conventional wisdom; results are mixed and controversial across countries . These conflicting results have raised the important question of heterogeneity and also underscored the usefulness of time series data for country specific studies in order to address heterogeneity. This paper sought to ascertain the relationship between fiscal deficits and economic growth in Guinea and to find the threshold level of fiscal, deficit that is …

Is The Naira-Us Dollar Real Exchange Rate Misaligned?, Babatunde S. Omotosho, Murjanatu U. Wambai

Economic and Financial Review

Policy makers are generally interested in knowing the degree of real exchange rate (RER) misalignment because of its connection to currency crises and other external sector imbalances. In Nigeria, the Naira-US Dollar RER appreciated by 81.3 per cent between 2000 and 2008 and depreciated afterwards by 10.10 per cent to close at an average of N 150.72 in 2009, due to the impacts of the global financial crisis. The main thesis of this study is: Are the movements in Naira RER during QI :2000 to 02:2011 in line with the economic fundamentals or not? Based on the theory of cointegration …

System Dynamics Implementation Of A Model Of Population And Resource Dynamics With Adaptation, Takuro Uehara, Yoko Nagase, Wayne Wakeland

Complex Systems Faculty Publications and Presentations

We build and analyze a dynamic ecological economic model that incorporates endogenous innovation on input substitutability. The use of the system dynamics method allows us to depart from conventional equilibrium thinking and conduct an out-of-equilibrium (adaptation) analysis. Simulation results show that while improvement in input substitutability will expand an economy, this change alone may not improve sustainability measured by indicators such as utility-per-capita and natural resource stock. It could, however, be possible that in combination with other technological progress, improvement in input substitutability will contribute to sustainable development. Sensitivity analysis also indicates a possible complication with the use of exogenous …

Lockheed Martin: Dealing With Dependence On A Single Customer, Timothy Kyle Benusa, Sam Gottwald, Jeffrey S. Harrison, John Reed

Robins Case Network

Lockheed Martin is a giant in the aerospace and defense industry, and obtains more than four fifths of its revenues from governments for national defense. Budget deficits have caused the United States and other governments to carefully evaluate the amount they allocate to defense, and sharp cuts are anticipated. What can Lockheed Martin do to deal with reductions in demand from its most important customer?

Does Graduating In A Bad Economy Penalize Your Pay Tor Life?, Kevin F. Hallock

Economics Faculty Publications

Rigorous research has shown that the state of the economy when one graduates from college does matter. And, unfortunately, given the current slow-growth labor market, it matters not just for earning in the first job after college but also for compensation years in the future. Recessions are bad on graduates' pocketbooks, at graduation and in years to come. If that's not enough, it looks like recessions could be bad for these graduates' current and future health too. J. Catherine Maclean studies the effects of graduating from college during a bad economy on physical functioning, mental functioning and depressive symptoms on …

Four Flaws In New York State’S Property Taxes And How To Fix Them: Levy Limits, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

The Nasa Glenn Research Center: An Economic Impact Study Fiscal Year 2011, Iryna Lendel, Sunjoo Park

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

2011 Economic Impact Of Jumpstart Inc. Portfolio And Client Companies, Ziona Austrian, Candice Clouse

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Discrimination And The Effects Of Drug Testing On Black Employment, Abigail Wozniak

Upjohn Institute Working Papers

Nearly half of U.S. employers test job applicants and workers for drugs. I use variation in the timing and nature of drug testing regulation to study discrimination against blacks related to perceived drug use. Black employment in the testing sector is suppressed in the absence of testing, consistent with ex ante discrimination on the basis of drug use perceptions. Adoption of pro-testing legislation increases black employment in the testing sector by 7–30 percent and relative wages by 1.4–13.0 percent, with the largest shifts among low skilled black men. Results suggest that employers substitute white women for blacks in the absence …

Simulating The Effects Of Michigan's Mega Tax Credit Program On Job Creation And Fiscal Benefits, Timothy J. Bartik, George A. Erickcek

Upjohn Institute Working Papers

This paper simulates job and fiscal impacts of Michigan’s MEGA tax credit program for job creation. Under plausible assumptions about how such credits affect business location decisions, the net costs per job created of the MEGA program are simulated to be of modest size. The job creation impacts of MEGA are simulated to be considerably larger than devoting similar dollar resources to general business tax cuts. The simulation methodology developed here is applicable to incentives in other states.

Does Online Cross-Border Shopping Affect State Use Tax Liabilities?, Mikhail I. Melnik, James Alms

Faculty Articles

How does online cross-border shopping affect state use tax liabilities? We collect our own data on actual online cross-border shopping transactions from eBay.com, focusing upon a “representative” commodity classification and a “typical” day. These data allow us to examine the extent of actual online crossborder shopping by buyers, and the subsequent potential impact on state use tax liabilities of buyers. Our results indicate that online cross-border shopping is highly prevalent on eBay, with out-of-state purchases accounting for on average 94 percent of the volume of a state’s online purchase transactions. Even so, given the limited volume of eBay-based transactions relative …

The Ohio Bioscience Sector, 2000-2010, Matthew Hrubey, Candice Clouse, Ziona Austrian

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Crime And Moral Hazard: Does More Policing Necessarily Induce Private Negligence?, Brishti Guha, Ashok S. Guha

Research Collection School Of Economics

Even risk-neutral individuals can insure themselves against crimes by combining direct expenditure on security with costly diversification. In such cases — and even when one of these options is infeasible — greater policing often actually encourages private precautions.

Nature Of Vix Jumps On Market Timing Of Hedge Funds, Yueh-Neng Lin, Choo Yong, Jeremy Goh

Research Collection Lee Kong Chian School Of Business

The study indicates that Brownian motion, finite and infinite activity jumps are present in the ultra-high frequency VIX data. The total quadratic variation can be split into a continuous component of 29% and a jump component of 71%. Jump activities on ultra-high frequency VIX data are found informative in ex-ante identifying subgroups of hedge funds that deliver significant outperformance. In the months that follow large jumps, strategies exposing to long volatility and extreme risk tend to deliver positive performance in extreme market environments. In the months that follow small jumps, possibly as a result of trading illiquidity, most fund strategies …

Testing For Jumps In Noisy High Frequency Data, Yacine Ait-Sahalia, Jean Jacod, Jia Li

Research Collection School Of Economics

This paper proposes a robustification of the test statistic of Aït-Sahalia and Jacod (2009b) for the presence of market microstructure noise in high frequency data, based on the pre-averaging method of Jacod et al. (2010). We show that the robustified statistic restores the test's discriminating power between jumps and no jumps despite the presence of market microstructure noise in the data.

Crime And Moral Hazard: Does More Policing Necessarily Induce Private Negligence?, Brishti Guha, Ashok S. Guha

Research Collection School Of Economics

Even risk-neutral individuals can insure themselves against crimes by combining direct expenditure on security with costly diversification. In such cases — and even when one of these options is infeasible — greater policing often actually encourages private precautions.

Random Dictatorship Domains, Shurojit Chatterji, Arunava Sen, Huaxia Zeng

Research Collection School Of Economics

A domain of preference orderings is a random dictatorship domain if every strategy- proof random social choice function satisfying unanimity defined on the domain, is a random dictatorship. Gibbard (1977) showed that the universal domain is a random dictatorship domain. We investigate the relationship between dictatorial and random dictatorship domains. We show that there exist dictatorial domains that are not random dictatorship domains. We provide stronger versions of the linked domain condition (introduced in Aswal et al. (2003)) that guarantee that a domain is a random dictatorship domain. A key step in these arguments that is of independent interest, is …

Dynamic Misspecification In Nonparametric Cointegrating Regression, Ioannis Kasparis, Peter C. B. Phillips

Research Collection School Of Economics

Linear cointegration is known to have the important property of invariance under temporal translation. The same property is shown not to apply for nonlinear cointegration. The limit properties of the Nadaraya-Watson (NW) estimator for cointegrating regression under misspecified lag structure are derived, showing the NW estimator to be inconsistent, in general, with a "pseudo-true function" limit that is a local average of the true regression function. In this respect nonlinear cointegrating regression differs importantly from conventional linear cointegration which is invariant to time translation. When centred on the pseudo-true function and appropriately scaled, the NW estimator still has a mixed …

Nonlinear Cointegrating Regression Under Weak Identification, Xiaoxia Shi, Peter C. B. Phillips

Research Collection School Of Economics

An asymptotic theory is developed for a weakly identified cointegrating regression model in which the regressor is a nonlinear transformation of an integrated process. Weak identification arises from the presence of a loading coefficient for the nonlinear function that may be close to zero. In that case, standard nonlinear cointegrating limit theory does not provide good approximations to the finite-sample distributions of nonlinear least squares estimators, resulting in potentially misleading inference. A new local limit theory is developed that approximates the finite-sample distributions of the estimators uniformly well irrespective of the strength of the identification. An important technical component of …

South Dakota Agricultural Land Values: 2012, Burton Pflueger, Larry Janssen

Economics Commentator (1972- 2016)

No abstract provided.

Imperfect Detection Of Tax Evasion In A Corrupt Tax Administration, Diego Escobari

School of Economics and Finance Faculty Publications

This article models the imperfect detection of tax evasion motivated by the existence of a corrupt tax administration. Consistent with previous literature, fines and audit probabilities both have a positive effect on compliance. Moreover, the model shows that they have a negative effect on the bribes paid to corrupt tax officials. More corruption decreases compliance levels, giving honest auditors incentives to work harder to detect evasion. Giving inspectors a share of the detected evasion (tax farming) makes auditors work harder; however, increasing their wages reduces their exerted effort to discover evasion. Higher compliance can as well be achieved by hiring …

The Meeting School: An Alternative Mode Of Education, Hallel Parsons

Capstone Collection

What role do spirituality, community, and farming play in contemporary US education? As a farm and faculty intern at a small, private, Quaker boarding high school in rural NH I gained an interesting perspective on this subject. Using Robert G. Hanvey’s working thesis: An Attainable Global Perspective: Education for a Global Perspective as a standard by which to measure my experience at The Meeting School, I explore the implications of an education founded upon the Quaker values of simplicity, peace, integrity, community, and equality (SPICE), within the context of an intentional community committed to organic farming as a means to …

Fatty Acid Composition In The Mature Milk Of Bolivian Forager-Horticulturalists: Controlled Comparisons With A Us Sample, Melanie A. Martin, William D. Lassek, Steven J. C. Gaulin, Rhobert W. Evans, Sheela S. Geraghty, Barbara S. Davidson, Ardythe L. Morrow, Hillard Kaplan, Michael Gurven

ESI Publications

Breast milk fatty acid (FA) composition varies greatly among individual women, including in percentages of the long-chain polyunsaturated FAs (LCPUFA) 20:4n-6 (arachidonic acid, AA) and 22:6n-3 (docosahexaenoic acid, DHA), which are important for infant neurological development. It has been suggested that owing to wide variation in milk LCPUFA and low DHA in Western diets, standards of milk FA composition should be derived from populations consuming traditional diets. We collected breast milk samples from Tsimane women at varying lactational stages (6–82 weeks). The Tsimane are an indigenous, natural fertility, subsistence-level population living in Amazonia Bolivia. Tsimane samples were matched by lactational …

Godly Conference, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Conference literature from Surrogates, humbugs and other aggregate parables: Half-a-century of “The Surrogate Production Function” — A symposium in honour of Anwar Shaikh at the University of Trento (2012-05-23).

The Closure Of New Orleans' Charity Hospital After Hurricane Katrina: A Case Of Disaster Capitalism, Kenneth Brad Ott

LSU New Orleans Theses and Dissertations

Abstract

Amidst the worst disaster to impact a major U.S. city in one hundred years, New Orleans’ main trauma and safety net medical center, the Reverend Avery C. Alexander Charity Hospital, was permanently closed. Charity’s administrative operator, Louisiana State University (LSU), ordered an end to its attempted reopening by its workers and U.S. military personnel in the weeks following the August 29, 2005 storm. Drawing upon rigorous review of literature and an exhaustive analysis of primary and secondary data, this case study found that Charity Hospital was closed as a result of disaster capitalism. LSU, backed by Louisiana state officials, …

The Impact Of Local Environmental Quality On International Tourism Demand: The Case Of China, Cong Huang

Master's Theses

Abstract: This paper studies the impact of local environmental quality on international tourism demand based on a panel data set of tourist arrivals from ten foreign countries in 18 typical provinces in China over the period of 1999-2010. Ordinary Least Squares (OLS) with different specifications show that the growth of pollution has a negative and significant influence on the international tourism demand. More specifically, the air quality plays a crucial role in this relationship, whereas the water quality does not. In addition, similar results can be found after addressing the potential endogeneity between environmental quality and tourism with the use …

Origins Of Money, Alla Semenova

Economics Invited Speakers

Alla Semenova, Assistant Professor of Economic, Dickinson College, presented on the Origin of Money. The seminar is part of the Pisediscalzi Lecture Series. Dr. Nicholas Pisediscalzi was the founding chair of the Religion Department and a life-long student of the dialectic of Religion and Culture—especially Art, literature, and Politics. The seminar was cosponsored by the Departments of Religion, Philosophy and Classics and the Department of Economics, Wright State University.

The Economic Benefits Of Mobile Broadband, James Prieger

School of Public Policy Working Papers

Mobile broadband is becoming increasingly important to national economies and the personal lives of users. However, broadband availability and adoption are not diffusing as quickly in rural areas or among certain minority groups. This article updates the rural and minority digital divide. Empirical estimations of mobile broadband provision and fixed broadband usage in the US show that rural areas have fewer providers and minorities have lower usage rates. The potential for mobile broadband to benefit rural areas through economic development and urban areas through enhancing the digital inclusion of minority communities is also examined.

The Science Of Public Health Practice: Using Pbrns For Delivery System Research In Public Health Settings, Glen P. Mays

Health Management and Policy Presentations

PBRN research tests strategies for improving the delivery of services that promote health and prevent disease and injury on a population-wide basis.

From The Womb To The Tomb: The Role Of Transfers In Shaping The Evolved Human Life History, Michael Gurven, Jonathan Stieglitz, Paul L. Hooper, Cristina Gomes, Hillard Kaplan

ESI Publications

Humans are the longest living and slowest growing of all primates. Although most primates are social, humans are highly cooperative and social in ways that likely co-evolved with the slow human life history. In this paper we highlight the role of resource transfers and non-material assistance within and across generations in shaping low human mortality rates. The use of complex cooperative strategies to minimize risk is a necessary precursor for selecting further reductions in mortality rate in late adulthood. In conjunction with changes in the age-profile of production, the impacts of resource transfers and other forms of cooperation on reducing …