Economics Commons^™

South Koreans Studying In Dlsu-Manila: Challenges And Opportunities In Trade In Education Services, Luz Suplico-Jeong, Rechel G. Arcilla

DLSU Business & Economics Review

Trade in education services plays a crucial role in economies like Australia, Canada, New Zealand, UK, and USA. The largest component of trade in education services consists of students who travel abroad to study. This market is going to grow as international student mobility continues to increase. The Philippines has been a popular destination for South Korean students who want to study abroad because English is widely spoken. It offers the same quality of English education at a lower cost. This paper examines the economic contribution and challenges of the South Korean students in the Philippines. A marketing strategy to …

Exploring Integrity, Leadership And Value Maximization In Microfinance, Junette A. Perez

DLSU Business & Economics Review

This study intends to review thoughts and expositions on integrity, leadership, and its potential link to value maximization in microfinance. The major source of exposition is from Jensen, Erhard, and Zaffron (2011). Prior reviews revealed that a man with integrity is a man of his word. As such, integrity begins with the mind as the mind compels the desire to exercise the manifestations of integrity. Jensen et al. (2011) measured integrity as equivalent to honoring one’s word. Applying such definition in microfinance, imputed with concepts of leadership with a view of maximizing value in microfinance is limitless as well as …

Impact Of Cooperative Finance On Household Income Generation, Onafowokan Onabanjo Oluyombo

DLSU Business & Economics Review

The study assesses the role played by cooperative societies’ loans services on members’ economic condition through household income generation in rural areas where there is no bank or other formal financial providers. Using a questionnaire technique, the study covers the activities of cooperative societies located in rural communities and villages outside the state capital and local government headquarters where there is no electricity, water, and tarred road in Ogun State, Nigeria. Data are analysed using chi-square, t-test, ANOVA, and effect size. The study found that participation in a cooperative is associated with increase in household income, while membership duration, house …

The Nexus Between Bank Credit Development And Economic Growth In Indonesia, Arisyi Fariza Raz

DLSU Business & Economics Review

The issue about the causal relationship between economic growth and credit market development is very important, particularly in a big emerging economy such as Indonesia, which has implemented various financial reforms following East Asian Financial Crisis in 1997. Efficient credit allocation in the banking sector will distribute the credit to the productive sector and, thus, promote economic growth. Meanwhile, development in the business sector will also increase demand for credit, encouraging credit market development. Given this rationale, this study aims at finding the significance of the linkage between economic growth and credit market development in Indonesia by investigating their long-run …

Mobile Phones And Growth Of Microenterprises: A Case Study Of Safaricom’S “Zidisha Biashara” Customers, Geoffrey Wandeto Mwangi, Freddie R. Acosta

DLSU Business & Economics Review

The study aimed at establishing the impacts of mobile phones usage on the growth of microenterprises. The study focused on mobile phones (and not telephony or telecommunications in general) because of the speedy adoption and widespread usage of mobile phones witnessed in Kenya over the last 10 years. The objectives of the study were based on three indicators of business growth, that is, income, profitability (cost management), and customer base. The study adopted a descriptive design method since it aimed at discovering and describing if a relationship exists between the variables. The study purposively sampled 100 microenterprises from Safaricom’s Zidisha …

Retirement Patterns Of Couples In Europe, Laura Hospido, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

In this paper we study the retirement patterns of couples in a multi-country setting using data from the Survey of Health, Aging and Retirement in Europe. In particular we test whether women's (men's) transitions out of the labor force are directly related to the actual realization of their husbands' (wives') transition, using the institutional variation in country-specific early and full statutory retirement ages to instrument the latter. Exploiting the discontinuities in retirement behavior across countries, we find a significative joint retirement effect, especially for women, of around 16 to 18 percentage points. For men, we find a similar but less …

Partial Disability System And Labor Market Adjustment: The Case Of Spain, Jose I. Silva, Judit Vall-Castello

Upjohn Institute Working Papers

Although partially disabled individuals in Spain are allowed to combine the receipt of disability benefits with a job, the empirical evidence shows that employment rates for this group of individuals are very low. Therefore, in this paper we construct labor market model with search intensity and matching frictions in order to identify the incentives and disincentives to work provided by the partial disability system in Spain from the point of view of both disabled individuals and employers. According to the model, the high employment rate gap observed between nondisabled and disabled workers can be partially explained by the presence of …

State Incentives For Innovation, Star Scientists, And Jobs: Evidence From Biotech, Enrico Moretti, Daniel J. Wilson

Upjohn Institute Working Papers

We evaluate the effects of state-provided financial incentives for biotech companies, which are part of a growing trend of placed-based policies designed to spur innovation clusters. We estimate that the adoption of subsidies for biotech employers by a state raises the number of star biotech scientists in that state by about 15 percent over a three-year period. A 10 percent decline in the user cost of capital induced by an increase in R&D tax incentives raises the number of stars by 22 percent. Most of the gains are due to the relocation of star scientists to adopting states, with limited …

Banking Crises And The Volume Of Trade, Yifei Mu

All Dissertations

This dissertation consists of three chapters. The first two chapters investigate the correlation between banking crises and bilateral trade flows. In the first chapter, we focus on how banking crises may impact the bilateral trade flows over time. We attempt to disentangle the financial shocks' impacts on trade flow by factors that are related to exporters and importers. The second chapter assesses how banking crises impact the extensive and intensive margin of the trade. The third chapter attempts to use frontier model to analyze the bidding behaviors and collusion in the different submarkets of low-price, sealed-bid construction procurement.
Since 2007 …

Dampak Liberalisasi Perdagangan Terhadap Efiiensi Teknis Perusahaan Pada Industri Manufaktur Indonesia, Tsurayya Nurrahma

Jurnal Ekonomi dan Pembangunan Indonesia

Having data sample in 1987, 1995, and 2008, this research aims to analyze the impact of trade liberalization on technical efficiency of Indonesian manufacturing firms since deregulation in the 1980s. In addition, the research also analyzes the impact of other efficiency determinants coming from firm characteristics and market structure. Technical inefficiency score is estimated by using stochastic production frontier model, whereas the impact of efficiency determinants is analyzed by using Ordinary Least Squared model (OLS). For each year observed, liberalization has different impacts on technical efficiency. However, as liberalization continues, it has facilitated firms to produce towards their full technical …

Risk Information Impact On Investment Decisions: Experimental Test Of Pmm Theory, A Case Of Indonesia, Negina Kencono Putri, Zaki Baridwan, -- Supriyadi, Ertambang Nahartyo

DLSU Business & Economics Review

The aim of this study is to examine the Probabilistic Mental Model (PMM) Theory as an explanation of the framing effect in the context of reporting risk in different formats in Indonesia. The study was conducted using an online field experimental method with 3x4x2 mixed design, involving 54 investment analysts as participants. Experiments were conducted to test whether different formats of risk information—given the time sequence associated with the framing effect as explained by the PMM Theory—influence the investment decision-making process. The results show that participants chose to take action that is not at risk when the information presented is …

On Paternity Leaves And Parental Leaves – The Dilemma Over “Daddy Days”, Emily Sanchez Salcedo

DLSU Business & Economics Review

Filipino fathers generally refrain from undertaking childcare functions, an attitude that can be traced from the traditional notion that men are the economic providers while women are the nurturers of the family. In 1996, a breakthrough legislation was passed by the Philippine Legislature providing for seven days of paid paternity leave. A good beginning, but certainly not sufficient if the intention is really for the father and mother to share in the joys and pains of parenthood. Thus, Filipino women are left with no choice but to be mothers first and workers second. The article will look at experiences in …

Pengaruh Larangan Ekspor Bahan Baku Terhadap Kinerja Perusahaan Rotan Indonesia, Ashintya Damayati, Nachrowi D. Nachrowi

Jurnal Ekonomi dan Pembangunan Indonesia

This research analyzes the impacts of raw material export restriction on firm performance: value-added, labor, and productivity growth, as well as firm survival ability in the rattan-based final good industry in the 1995-2004 period, which are distinguished based on firm size. This study uses probit method for the survival model, and the Ordinary Least Square (OLS) for the growth model. Data obtained from Medium and Large Scale Industries Statistics (ISIC 33131 and 33212). The result shows that export restriction can improve survival ability of the medium and large-sized firm, and have a positive impact on value-added and labor growth of …

Efficient Kernel-Based Semiparametric Iv Estimation With An Application To Resolving A Puzzle On The Estimates Of The Return To Schooling, Feng Yao, Junsen Zhang

Economics Faculty Working Papers Series

An interesting puzzle in estimating the effect of education on labor market earnings (Card (2001)) is that the 2SLS estimate for the return to schooling typically exceeds the OLS estimate, but the 2SLS estimate is fairly imprecise. We provide a new explanation that it could be due to the restrictive linear functional form specification on the control variables and the reduced form. For the parameters of endogenous regressors, we propose two kernel-based semiparametric IV estimators that relax the tight functional form assumption on the control variables and the reduced form. They have explicit algebraic structures and are easily implemented without …

Evaluasi Kelayakan Finansial Usaha Peternakan Dan Pengembangan Biogas: Studi Kasus Desa Suntenjaya, Bandung, Resty F. Maeanti, Akhmad Fauzi, Asti Istiqomah

Jurnal Ekonomi dan Pembangunan Indonesia

This study aims to evaluate the feasibility of biogas project in Suntenjaya Village, Bandung and identify factors that affect revenues, environment and wider economic benefit of the project, using benefit cost analysis, multiple regression, and descriptive analysis. The results show that biogas project is feasible to be developed. Variables that significantly influence on the biogas project are total amount of poultry's waste, total amount of water, and labor. Economic impact of biogas from employment is 1.96%. Furthermore, fuel cost savings of biogas is IDR1,406,160. Environmental impact shows that mostly of cow farmer agree that biogas development project give positive impacts …

Disparitas, Konvergensi, Dan Determinan Produktivitas Tenaga Kerja Regional Di Indonesia, Aisyah Fitri Yuniasih, Muhammad Firdaus, Idqan Fahmi

Jurnal Ekonomi dan Pembangunan Indonesia

Indonesia has been still experiencing regional economic disparity problems, including in labour productivity. This study employs dynamic panel approach to analyze convergence and to identify determinants of regional labour productivity during the period of 1987-2011. The System Generalized Method of Moments (Sys-GMM) estimation results show that regional convergence process occurs with speed of convergence of 0.06518 per year. Physical capital stock, human capital stock, total trade, and real wage give positive impacts. Therefore, government should prioritize in overcoming labour productivity disparity in Eastern Indonesia in which are more unequal than in Western Indonesia where interventions should be greater for provinces …

Is The Renminbi East Asia’S Dominant Reference Currency? A Reconsideration, Hwee Kwan Chow

Research Collection School Of Economics

Recent empirical studies show that the Chinese currency renminbi is either becoming or has become a dominant reference currency in East Asia. This paper reviews the evidence with daily exchange rate data from seven East Asian economies namely, Indonesia, Korea, Malaysia, the Philippines, Singapore, Thailand and Taiwan. We consider the likely problems and pitfalls associated with the application of Frankel-Wei regressions to determine the weights of the US dollar and the renminbi in the implicit currency baskets. We show empirically the estimation of currency weights using non-orthogonalised renminbi movements could suffer from imprecision and/or inconsistency. To circumvent the simultaneity bias …

Policy Responses In An Unstable Globalized Economy: Multi-Stressed Low-Earning Families In Singapore, Irene Y. H. Ng, Kong Weng Ho

Research Collection School Of Economics

The Singapore government responded swiftly to the 2008 global recession, doling out a range of policies in aid of all levels of wage earners. This paper explores the impacts of economic trends and government policies on low-wage earners. Using a theoretical model and empirical data from a pilot study of recipients of a government Work Support Program, it demonstrates the effects of socioeconomic factors on multi-stressed low-earning families. It discusses the adequacy of current policies in addressing the multiple stressors experienced by low-wage earners.

Forecasting Government Bond Risk Premia Using Technical Indicators, Jeremy Goh, Fuwei Jiang, Jun Tu, Guofu Zhou

Research Collection Lee Kong Chian School Of Business

While economic variables have been used extensively to forecast bond risk premia, little attention has been paid to technical indicators which are widely used by practitioners. In this paper, we study the predictive ability of a variety of technical indicators vis-a-vis the economic variables. We find that technical indicators have significant in both in- and out-of-sample forecasting power. Moreover, we find that using information from both technical indicators and economic variables increases the forecasting performance substantially. We also find that the economic value of bond risk premia forecasts from our methodology is comparable to that of equity risk premium forecasts.

Robust Estimation And Inference For Jumps In Noisy High Frequency Data: A Local-To-Continuity Theory For The Pre-Averaging Method, Jia Li

Research Collection School Of Economics

We develop an asymptotic theory for the pre-averaging estimator when asset price jumps are weakly identified, here modeled as local to zero. The theory unifies the conventional asymptotic theory for continuous and discontinuous semimartingales as two polar cases with a continuum of local asymptotics, and explains the breakdown of the conventional procedures under weak identification. We propose simple bias-corrected estimators for jump power variations, and construct robust confidence sets with valid asymptotic size in a uniform sense. The method is also robust to certain forms of microstructure noise.

Allocative Efficiency, Mark-Ups, And The Welfare Gains From Trade, Thomas J. Holmes, Wen-Tai Hsu, Sanghoon Lee

Research Collection School Of Economics

This paper develops an index of allocative efficiency that depends upon the distribution of mark-ups across goods and is separable from an index of standard Ricardian gains from trade. It determines how changes in trade frictions affect allocative efficiency in an oligopoly model of international trade, decomposing the effect into the cost-change channel and the price-change channel. Formulas are derived shedding light on the signs and magnitudes of the two channels. In symmetric country models, trade tends to increase allocative efficiency through the cost-change channel, yielding a welfare benefit beyond productive efficiency gains. In contrast, the price-change channel has ambiguous …

The Consequences Of A Public Health Insurance Option: Evidence From Medicare Part D Prescription Drug Markets, Daniel P. Miller, Jungwon Yeo

Research Collection School Of Economics

This paper examines a public option competing alongside private insurers in Medicare Part D. We estimate a random coefficient demand system and oligopoly supply-side model with endogenous premium subsidies and risk adjustment payments. If the public option does not affect health risk sorting, counterfactual results show modest competitive benefits. However, increased subsidy payments eliminate welfare gains regardless of the public option's cost position. If the public option adversely selects -- facilitating insurers' ability to cream-skim favorable risk -- the risk adjustment mechanism creates a downward pricing distortion, amplifying competitive benefits. Despite greater selection, total surplus may increase, but the division …

Study Of Economic Development Of Pakistan Through Stock Market: Causal Relationship Of Stock Prices And Macroeconomic Indicators, Rizwan Raheem Ahmed, Yaseen Ahmed Meenai, Fazal Hussain

Business Review

The purpose of the research is to examine the causal relationship between stock prices and the variables representing the real sector of the economy for example real GDP, and real investment, in Pakistan. In this study, annual data is used (quarter-wise) from December 1980 to June 2007 and the correlation analysis has been applied, to investigate the relationship. For better understanding of the Market’s Behavior, data has been grouped in to Liberalization periods; Preliberalization and Post-Liberalization. The stock market in Pakistan provides an average quarterly return of 2.86%.The average annual growths in real variables are just lower than 1% for …

Ebay Or Amazon? Time-Sensitive Retail Purchases Via Auctions, Brennan C. Platt

Faculty Publications

We consider a population of buyers who have unit demand for a homogeneous good, and only differ in terms of how soon they need to purchase it. These buyers have access to a stochastic stream of second-price auctions, as well as a retail outlet that can be used at any time. We characterize the equilibrium bidding dynamics, showing that bidders steadily raise their reservation price as they approach their deadline. This market produces a considerable degree of dispersion in auction revenue. Surprisingly, extending the buyers' deadlines actually increases expected revenue and the fraction of buyers using the retail outlet.

Equality Of Outcome Or Equality Of Opportunity? A Simulation Of Wealth Distribution Using Agent-Based Modeling, Ozgur Ekmekci

Clinical Research and Leadership Faculty Publications

Against the backdrop of calls for a more just form of capitalism, this paper specifically focuses on the notion of equality within capitalist societies and utilizes findings from a computer simulation to explore which of one two fundamental principles, namely: (1) equality of opportunity; or (2) equality of outcome might better inform and guide reform efforts to create more uniform distribution of wealth among members of society. In this study, Agent Based Modeling (ABM), as a form of computer simulation was used to explore how the fundamental principles of equality of opportunity or equality of outcome might impact wealth …

Mountain Monitor-1st Quarter 2013, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

Economic recovery gained strength across the major metro areas of the Mountain West in the first quarter of 2013. Multiple metro areas achieved long-awaited full employment recoveries in the first quarter and regional production surpassed pre-recession levels of output for the first time. The region’s strong housing rebound continued to be a boon. Additionally, a special supplement to the Monitor shows that the healthcare sector has been an outsized contributor to recovery throughout the region. Despite progress on multiple fronts, though, many Mountain metro areas remain scarred with high unemployment rates, severely depressed house prices, and daunting jobs deficits.

Governance & Sustainability: Does Democracy Beggar Thy Future?, Nathanael D. Peach

Faculty Publications - College of Business

Findings:

An increase in political stability:

• Higher levels of natural resource depletion
• Higher levels of adjusted net savings (ANS) i.e. contributes positively to sustainable growth

Increase in democracy:

• Lower levels of natural resource depletion
• Impact on sustainability is conditional on the economic and political context

Quality Of Lunch On Cognitive Performance, Corbin Miller, Dr. Joseph Price

Journal of Undergraduate Research

The purpose of my project is to discover whether or not there is a link between the nutritional quality of food served for elementary school lunch and test scores. Our hypothesis is that eating a more healthy meal prior to taking a test will improve cognitive performance. The two sources of data that are required for this project to succeed are the school lunch menu data and the corresponding test scores. I have already retrieved the school lunch menu data from Westridge and Rock Canyon elementary schools in the Provo School District. We are currently waiting on permission to access …

Differential Interpretations Of Air Pollution Health Effects Related To Funding Sources And Author Institutional Affiliation, Nathan Law, Dr. C. Arden Pope Iii

Journal of Undergraduate Research

The main goal of this research project was to discover whether or not results attained in epidemiology studies assessing the increased risk of mortality attributable to air pollution, are influenced by funding source or affiliation of the authors. This study was motivated by public policy debate regarding evidence from ongoing research on the mortality effects of particulate air pollution. New research is constantly being performed and reviewed and changes are being made to improve regulations on air pollution. Well over a thousand research articles have been written and published over the past 25 years on the adverse health effects of …

Health System Contributions To Public Health Activities Amid Policy And Economic Change: Estimating Complementarities, Substitutions, And Network Effects, 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, potentially changing the structure of public health delivery systems and expanding the delivery of strategies that improve population health. 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 …