Economics Commons^™

Dynamical Structure Of A Traditional Amazonian Social Network, Paul L. Hooper, Simon Dedeo, Ann E. Caldwell Hooper, Michael Gurven, Hillard Kaplan

ESI Publications

Reciprocity is a vital feature of social networks, but relatively little is known about its temporal structure or the mechanisms underlying its persistence in real world behavior. In pursuit of these two questions, we study the stationary and dynamical signals of reciprocity in a network of manioc beer (Spanish: chicha; Tsimane’: shocdye’) drinking events in a Tsimane’ village in lowland Bolivia. At the stationary level, our analysis reveals that social exchange within the community is heterogeneously patterned according to kinship and spatial proximity. A positive relationship between the frequencies at which two families host each other, controlling for kinship and …

Trade Frictions And Market Access Of Developing Countries: A Product-Level Empirical Investigation, Eugene Bempong-Nyantakyi, Steven Husted, Shuichiro Nishioka

Economics Faculty Working Papers Series

This paper examines the effects of trade frictions, including tariffs and a variety of factors that raise trade costs, on export market access at the product level and, in particular, the role these frictions have on the ability of developing countries to access world markets. We find that a variety of trade frictions do serve to limit market access. We find distance and efficiency in trade facilitation are significant determinants of the probability of success in entering foreign markets. We examine whether there are any systematic development-related biases from these frictions that further limit market access for exporters from developing …

How Foreign Firms Transformed Ireland’S Domestic Economy, Paul Donnelly

Articles

Today, Ireland is host to 1,033 multinational corporations. They directly employ 152,785 and account for 70 per cent or €122.5bn of exports. It’s a story that has its roots in the 1940s.

Benchmarking An Optimal Pattern Of Pollution Trading: The Case Of Cub River, Utah, Arthur Caplan, Yuya Sasaki

Applied Economics Faculty Publications

This paper employs a recently developed, dynamic trading algorithm to establish a benchmark pattern of trade for a potential water quality trading (WQT) market in the Cub River sub-basin of Utah; a market that would ultimately include both point and nonpoint sources. The algorithm accounts for three complications that naturally arise in trading scenarios: (1) combinatorial matching of traders, (2) trader heterogeneity, and (3) discreteness in abatement technology. The algorithm establishes as detailed a reduced-cost benchmark as possible for the sub-basin by distinguishing a specific pattern of trade among would-be market participants. As such, the algorithm provides a benchmark against …

The Case For Residential Liberal Arts, Part Iii: Adaptability, Michael Hemesath

Administration Publications

No abstract provided.

Curacao North Sea Jazz Festival: Through "The Looking Glass", Manuel A. Rivera, Robertico R. Croes

Dick Pope Sr. Institute Publications

The study was commissioned by Fundashon Bon Intenshon (FBI), through its sole Director and Founder, Mr. Gregory Elias, and was conducted through an intercept survey on site during the two major concerts on August 30 and 31, 2013. The study was carried out by the Dick Pope Sr. Institute for Tourism Studies (DPITS) of the Rosen College of Hospitality Management at the University of Central Florida. This is the fourth time in a row that the DPITS conducts the study on behalf of FBI. This report documents the economic contribution and the experience of the international visitors attending the Curacao …

A Note On War And Fiscal Capacity In Developing Countries, Abdur Chowdhury, Syed M. Murshed

Economics Faculty Research and Publications

We examine the effect of war on state fiscal capacity in developing countries, measured by tax revenue to GDP ratios. In divided or factionalised societies, patronage may substitute for common interest public goods, with the possibility of violent contestation over a rent. Our dynamic panel empirical estimates of the determinants of fiscal capacity are applied to 79 developing countries, during 1980–2010. Results indicate that war, especially civil war, retards fiscal capacity, along with poor governance, oil dependence and macroeconomic mismanagement.

New Health Delivery Networks: Merging Public Health And Health Care Systems, Glen P. Mays

Health Management and Policy Presentations

Incomplete coordination between medical care and public health delivery systems can result in significant missed opportunities for improving population health and constraining overall resource use. This lecture uses insight from the field of public health services and systems research (PHSSR) to examine: (1) why medical care and public health systems often fail to connect; (2) what are the potential health and economic consequences of these failures; and (3) what are the opportunities for connecting medical care and public health delivery to improve population health.

The Economic Footprint Of The Rosen College Of Hospitality Management In The Metro Orlando Area, Robertico R. Croes, Tadayuki Hara

Dick Pope Sr. Institute Publications

The report documents the economic value of the Rosen College of Hospitality Management (RCHM) to the Metro Orlando area. The purpose of estimating the economic value of the program is to calculate the increased economic activities in the Metro Orlando area as generated by college degree attainment through the RCHM. The report is the result of an assignment commissioned by the Dean of the RCHM. The report assessed the economic impact of the alumni of the College during the period from 2000 to 2012. In that period, more than 5,000 students earned a degree either at the undergraduate or graduate …

Common Pool Resource Issues In Managing Herbicide Resistant Weeds, David E. Ervin

Economics Faculty Publications and Presentations

Controlling herbicide resistance (HR) will require the integration of economics and social science with the biophysical and technological aspects of this growing problem. The existence of mobile herbicide resistance and/or herbicide tolerance traits adds complexity as genetic susceptibility to the herbicide is a resource open to all farmers impacting the weed population. Weed scientists have recognized that the “tragedy of the commons” may appear when herbicide resistance is mobile across farms. However, the private and public institutions that can influence individual and group decisions about HR have received sparse analysis. When such conditions prevail, reliance on voluntary education, technical assistance …

Is College A Good Investment?: An Economic And Policy Analysis, Beth Akers

Brookings Scholar Lecture Series

This lecture provides a theoretical framework for thinking about the financial returns on the investment in higher education degrees and will present the latest empirical finding on this question. The discussion will touch on the topics of rapid tuition inflation, for-profit colleges, student loan debt, and the potential for a fiscal crisis in the market for student loans.

Recessions, Risks And Reforms: Changes In Inter-Organizational Activities To Improve Public Health, Glen P. Mays

Health Management and Policy Presentations

Research Objective: The Affordable Care Act created new incentives for hospitals, insurers, employers, public health agencies, and others to contribute to activities designed to promote health and prevent disease an injury. At the same time, the economic recession has constrained government and private sector spending on health and health care, necessitating changes in the scope and scale of public health delivery. This study uses data from the 1998-2012 National Longitudinal Survey of Public Health Systems to examine: (1) the extent and nature of change in inter-organizational contributions to public health activities, with a focus on hospitals, insurers, employers, and primary …

Who Benefits From Public Health Spending And How Long Does It Take: Estimating Community-Specific Spending Effects, Glen P. Mays

Health Management and Policy Presentations

Objectives: Spending on public health and prevention strategies varies widely across states and communities. The Patient Protection and Affordable Care Act of 2010 (ACA) authorized the largest expansion in federal public health spending in decades, with the goals of improving population health and helping to moderate growth in medical care spending. To produce evidence needed to inform these investments, this study (1) estimates the effects of public health spending patterns within communities on preventable mortality and subsequent medical care spending; and (2) uses the methods of local instrumental variables developed by Heckman and Vytlacil and Basu to estimate how the …

Update On Public Health Financing & Economic Studies From The Phssr And Pbrn Programs, Glen P. Mays

Health Management and Policy Presentations

As part of the Public Health Financing Roundtable at APHA, this session provides an update on public health financing and economics studies underway through the Public Health Services and Systems Research (PHSSR) Program and the Public Health Practice-Based Research Networks (PBRN) Program, supported by the Robert Wood Johnson Foundation.

The Power Of Politics For Zambia’S Public Sector Unions: A Case Study Of The 2013 Nursing Strikes, Andrew Stawasz, Thaddeus Talbot

Zambia Social Science Journal

Recent pay reform efforts in Zambia have sought to generate more competitive wages and benefits for workers in the public sector. However, these efforts have been characterised by inconsistent policy decisions during wage negotiations. Such decisions produce distortions in the pay structure that result in industrial unrest from unions in the public sector. Previous literature has not examined how public sector unions influence these outcomes in Zambia. This article examines factors that affect public sector unions’ influence in Zambia. Seven factors were identified after analysing the 2013 wage negotiations and subsequent nurses’ strikes at the University Teaching Hospital (UTH) as …

Agricultural Productivity And Poverty Reduction In Nepal, Satis Devkota, Mukti Upadhyay

Economics & Management Publications

This paper provides for the first time a clear quantitative link between agricultural productivity and poverty among rural households in Nepal. Using data from a nationwide Nepal Living Standard Survey 2004, we first estimate household-specific productivity per worker under both Cobb–Douglas and translog production functions. Second, the paper identifies the determinants of productivity. Third, we explore a theoretical link between productivity and poverty using Sen's poverty index and find empirically that productivity growth substantially helps poverty reduction. Finally, the integrated effects of changes in productivity determinants are found to be stronger than the outcomes of sectoral policies taken in isolation.

Rhode Island Current Conditions Index -- November 2013, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Examining The Low Volatility Anomaly In Stock Prices, Munish Malhotra

Electronic Theses and Dissertations

Modern portfolio theory states that investments with greater beta, a common measure of risk, require greater returns from investors in order to compensate them for taking greater risk. Therefore, under the premise that market participants act rationally and therefore markets run efficiently, investments with higher beta should generate higher returns vis-à-vis investments with lower beta over the long run. In fact, many studies suggest that investments with lower beta actually generate equal to or higher returns relative to investments with higher beta. In looking at data for the S&P 500 going back 22 years between 1990 and 2012, this study …

Identifying And Describing The Network Of Health, Education, And Social Service Non-Profit Organizations In Southern Nevada, Shannon M. Monnat, Anna Smedley

Lincy Institute Reports and Briefs

Many of the economic, social, and demographic issues facing southern Nevada are dynamic and interrelated, requiring a coordinated approach on the part of southern Nevada’s non‐profit community. The coordination of services, skills, and talents enables community needs to be addressed in ways that exceed the scope and capacity of any single organization. With the increasing desire of funding organizations to support collaborative efforts, maintaining sustainable connections between southern Nevada’s non‐profit organizations is needed now more than ever before.

This is the first comprehensive study of southern Nevada’s health, education, and social service non‐profit network. Via a web‐based survey of nearly …

The Impact Of Research And Development On Economic Growth And Productivity In The Us States, Luisa Blanco, James Prieger, Ji Gu

School of Public Policy Working Papers

We estimate the impact of R&D on TFP and output in the private sector at the state level in the US from 1963 to 2007. R&D has a large effect on both output and TFP at the state level in the long run. The R&D elasticity in a state averages 0.056 to 0.143, implying returns to state GDP from R&D spending of 83% to 213%. There are also positive R&D spillovers, with 77% of the total returns accruing to other states. The R&D elasticities are either stable or increase slightly after 1993. The effects of R&D are dependent on the …

The Cost Of Green Infrastructure: Worth The Investment?, Martha Sheils

Green Infrastructure

Is GI worth the investment?

• LID techniques often lead to cost savings when we look at WHOLE PROJECT COSTS

• Natural Infrastructure investments for flood control, drinking water protection and wildlife habitat can yield SIGNIFICANT AVOIDED COSTS and additional co-benefits to communitites

The Friedman Rule And The Zero Lower Bound, Sebastien Buttet, Udayan Roy

Publications and Research

We explain why central banks rarely implement the Friedman rule by studying the properties of a simple New Keynesian dynamic macroeconomic model that is generalized to incorporate the zero lower bound on nominal interest rates. We show that two long-run equilibria exist, one stable and the other unstable, and we characterize the conditions under which the economy plunges into a deflation-induced depression following a contractionary demand shock. As long as the sum of the inflation rate and the natural real interest rate stays positive, the economy converges back to the long-run stable equilibrium, even when the zero lower bound is …

Urban Responses To Climate Change: Theories And Governance Practice In Cities Of The Global South, Dirk Heinrichs, Kerstin Krellenberg, Michail Fragkias

Economics Faculty Publications and Presentations

Cities around the world have recently started to become ‘proactive’ initiators of climate strategies containing both mitigation and adaptation elements. The experience of these first movers has been studied and documented both empirically and, to a lesser extent, theoretically, primarily for cities in the global North. This symposium addresses related knowledge gaps by exploring case studies of urban regions in the global South confronting their projected climate change challenges, showcasing the experiences of Delhi, Santiago de Chile and Bogotá. Its specific aim is to explore the urban social response to nature change, the adaptation challenges faced by cities across the …

Optimal Sup-Norm Rates, Adaptivity And Inference In Nonparametric Instrumental Variables Estimation, Xiaohong Chen, Timothy M. Christensen

Cowles Foundation Discussion Papers

This paper makes several contributions to the literature on the important yet difficult problem of estimating functions nonparametrically using instrumental variables. First, we derive the minimax optimal sup-norm convergence rates for nonparametric instrumental variables (NPIV) estimation of the structural function h 0 and its derivatives. Second, we show that a computationally simple sieve NPIV estimator can attain the optimal sup-norm rates for h 0 and its derivatives when h 0 is approximated via a spline or wavelet sieve. Our optimal sup-norm rates surprisingly coincide with the optimal L 2 -norm rates for severely ill-posed problems, and are only up to …

Inference On Optimal Treatment Assignments, Timothy B. Armstrong, Shu Shen

Cowles Foundation Discussion Papers

We consider inference on optimal treatment assignments. Our methods allow for inference on the treatment assignment rule that would be optimal given knowledge of the population treatment effect in a general setting. The procedure uses multiple hypothesis testing methods to determine a subset of the population for which assignment to treatment can be determined to be optimal after conditioning on all available information, with a prespecified level of confidence. A monte carlo study confirms that the inference procedure has good small sample behavior. We apply the method to study the Mexican conditional cash transfer program Progresa.

New Goodness-Of-Fit Diagnostics For Conditional Discrete Response Models, Igor Kheifets, Carlos Velasco

Cowles Foundation Discussion Papers

This paper proposes new specification tests for conditional models with discrete responses, which are key to apply efficient maximum likelihood methods, to obtain consistent estimates of partial effects and to get appropriate predictions of the probability of future events. In particular, we test the static and dynamic ordered choice model specifications and can cover infinite support distributions for e.g. count data. The traditional approach for specification testing of discrete response models is based on probability integral transforms of a jittered discrete data which leads to continuous uniform iid series under the true conditional distribution. Then, standard specification testing techniques for …

Optimal Uniform Convergence Rates For Sieve Nonparametric Instrumental Variables Regression, Xiaohong Chen, Timothy M. Christensen

Cowles Foundation Discussion Papers

We study the problem of nonparametric regression when the regressor is endogenous, which is an important nonparametric instrumental variables (NPIV) regression in econometrics and a difficult ill-posed inverse problem with unknown operator in statistics. We first establish a general upper bound on the sup-norm (uniform) convergence rate of a sieve estimator, allowing for endogenous regressors and weakly dependent data. This result leads to the optimal sup-norm convergence rates for spline and wavelet least squares regression estimators under weakly dependent data and heavy-tailed error terms. This upper bound also yields the sup-norm convergence rates for sieve NPIV estimators under i.i.d. data: …

New Goodness-Of-Fit Diagnostics For Conditional Discrete Response Models, Igor Kheifets, Carlos Velasco

Cowles Foundation Discussion Papers

This paper proposes new specification tests for conditional models with discrete responses. In particular, we can test the static and dynamic ordered choice model specifications, which is key to apply efficient maximum likelihood methods, to obtain consistent estimates of partial effects and to get appropriate predictions of the probability of future events. The traditional approach is based on probability integral transforms of a jittered discrete data which leads to continuous uniform iid series under the true conditional distribution. We investigate in this paper an alternative transformation based only on original discrete data. We show analytically and in simulations that our …

Fairness Through The Lens Of Cooperative Game Theory: An Experimental Approach, Geoffroy De Clippel, Kareen Rozen

Cowles Foundation Discussion Papers

This paper experimentally investigates cooperative game theory from a normative perspective. Subjects designated as Decision Makers express their view on what is fair for others, by recommending a payoff allocation for three subjects (Recipients) whose substitutabilities and complementarities are captured by a characteristic function. We show that axioms and solution concepts from cooperative game theory provide valuable insights into the data. Axiomatic and regression analysis suggest that Decision Makers’ choices can be (noisily) described as a convex combination of the Shapley value and equal split solution. A mixture model analysis, examining the distribution of Just Deserts indices describing how far …

Extremal Information Structures In The First Price Auction, Dirk Bergemann, Benjamin Brooks, Stephen Morris

Cowles Foundation Discussion Papers

We study how the outcomes of a private-value first price auction can vary with bidders’ information, for a fixed distribution of private values. In a two bidder, two value, setting, we characterize all combinations of bidder surplus and revenue that can arise, and identify the information structure that minimizes revenue. The extremal information structure that minimizes revenue entails each bidder observing a noisy and correlated signal about the other bidder’s value. In the general environment with many bidders and many values, we characterize the minimum bidder surplus of each bidder and maximum revenue across all information structures. The extremal information …