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2013

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Articles 781 - 810 of 1526

Full-Text Articles in Economics

Business Aviation: Utilization, Benefits, And Value, Tony Roberts May 2013

Business Aviation: Utilization, Benefits, And Value, Tony Roberts

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

In this study, I compare the performance of U.S. companies that use their own aviation transportation for business purposes (users) and those that use commercial transportation (non-users). I conduct qualitative analysis by interviewing CEOs and CFOs of various companies that are both users and non-users. Interviews of CEO’s and CFO’s coupled with numerical evidence are considered to determine advantages or disadvantages of business aviation. Data from the S&P 500 is used to calculate and provide explanation of how using business aviation affects the firms value, profitability, and asset utilization. Using both CAPM and Fama-French Three Factor model, I assess the …

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Employment Relations And Wages: What Can We Learn From Subjective Assessments?, Marta Lachowska May 2013

Employment Relations And Wages: What Can We Learn From Subjective Assessments?, Marta Lachowska

Upjohn Institute Working Papers

This paper studies the link between hourly wages and workers’ subjective assessments of how easy it would be to find another job as good as the present one, and how easy it would be for an employer to replace an employee. First, using high-quality data, I study the correlates of these two assessments. Second, I study whether respondents who report better outside opportunities and respondents who think they are difficult to replace receive higher wages. The results appear to be consistent with predictions of at least three theoretical frameworks: human capital theory, search theory, and a “locus of control” model.

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The Poverty Gap In School Spending Following The Introduction Of Title I, Elizabeth U. Cascio, Sarah Reber May 2013

The Poverty Gap In School Spending Following The Introduction Of Title I, Elizabeth U. Cascio, Sarah Reber

Dartmouth Scholarship

Title I of the 1965 Elementary and Secondary Education Act explicitly directed more federal aid for K-12 education to poorer areas for the first time in US history, with a goal of promoting regional convergence in school spending. Using newly collected data, we find some evidence that Title I narrowed the gap in per-pupil school spending between richer and poorer states in the short- to medium-run. However, the program was small relative to then-existing poverty gaps in school spending; even in the absence of crowd-out by local or state governments, the program could have reduced the gap by only 15 …

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The Impact Of Rising Trade On Wage Inequality: An Empirical Study On U.S.-China Trade From 2000-2010, Jie Chen May 2013

The Impact Of Rising Trade On Wage Inequality: An Empirical Study On U.S.-China Trade From 2000-2010, Jie Chen

All Theses

International trade has been cited as a source of widening wage inequality in industrial nations. In this paper, I investigate how the structure of the wage premium has been impacted within the United States due to rising trade with China. Using the U.S. Census data, since China joined WTO, I find the presence of the skill premium and over time the skill premium is higher. A counterfactual exercise indicates rising U.S. exports to China increase the wages of workers, especially for high-skilled laborers, and the effect is more pronounced in 2010. At the same time, increasing imports from China increase …

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Corporate Income Tax And Investment: Evidence From Panel Data In 22 Oecd Countries, Byung Gyu Jeong May 2013

Corporate Income Tax And Investment: Evidence From Panel Data In 22 Oecd Countries, Byung Gyu Jeong

All Theses

Using panel data for 22 OECD countries during 1985-2010 and 1970-2010, the author re-evaluates the existing evidence on the effects of corporate income taxes on four kinds of investments: foreign direct investment inflows, net domestic investment, total investment, and foreign direct investment outflows. The corporate income tax rate with a one-year lag has a statistically significant and negative effect on foreign direct investment inflows, but it has no clear relationship with the other three types of investments. This finding suggests that investment from the corporate sector will go to the domestic non-corporate sector in order to equalize the actual rate …

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Analysis Of South Carolina High School Students' Interest In Selected Majors: Agriculture, Business, Economics, And Environmental And Natural Resources, Huidong Zhou May 2013

Analysis Of South Carolina High School Students' Interest In Selected Majors: Agriculture, Business, Economics, And Environmental And Natural Resources, Huidong Zhou

All Theses

The research presented here focuses on high school students' level of interest in Business, environmental and natural resource, and agriculture as possible college majors. Data is derived from quantitative online survey that had been distributed to high school students in business and economics courses across the state of South Carolina during spring 2011, fall 2011, and spring 2012 semesters. Probit and ordered probit models are used analyze high school students' strength of interest in certain majors. Relatively few students are interested in Environment and Agriculture Majors. Females are less likely interested in economics, environmental and natural resource, and agriculture majors …

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Relationship Between Globalization And Wage Inequality, Yingruo Yan May 2013

Relationship Between Globalization And Wage Inequality, Yingruo Yan

All Theses

The paper explores whether globalization have impact of income distributions among upper class, middle class and lower class. In other words, we are trying to find the relationship between rapidly growing globalization and income inequality. In general, globalization boosts FDI, wage raise and productivity (Pica 2007). However, according to the past researches, the gap of wage inequality among high-class workers, middle-class workers and low-class works in a given country was becoming wider and wider as globalization increase. Using the panel data of 26 countries over a period 38 years from 1970-2011, we set up three regression models in order to …

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Valuation Of Timberland Under Price Uncertainty, Wallace Campbell May 2013

Valuation Of Timberland Under Price Uncertainty, Wallace Campbell

All Dissertations

In the first essay, a critical examination of three commonly used stochastic price processes is presented. Each process is described and rejected as a possible model of lumber futures prices. A mean reverting generalized autoregressive conditional heteroskedasticity (GARCH) model, developed by Bollerslev (1986), is proposed as a stochastic process for lumber futures prices. The essay provides the steps that should be taken to ensure that a proper price process is used in each application.
In the second essay, a flexible harvesting strategy known as the reservation price strategy is presented. When the current price is below the reservation price, the …

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The First Struggles Of The Capitalistic Peace And Its Detractors: An Analysis Of Greek Trade And Its Effects On Foreign Policy In The Athenian State, Joshua Blume May 2013

The First Struggles Of The Capitalistic Peace And Its Detractors: An Analysis Of Greek Trade And Its Effects On Foreign Policy In The Athenian State, Joshua Blume

Undergraduate Honors Capstone Projects

Although, a ubiquitous number of articles has arisen recently debating the validity of the so-called "Capitalist Peace," there has been little exploration of the theory from an ancient historical perspective, primarily due to the lack of trade data between countries or city-states. As the primordial birthplace of trade and democracy, there is perhaps no better example than ancient Greece to shed insight into the possible validity of the capitalist peace theory. Utilizing new research involving trade in ancient Greece, this paper seeks to explore the relative validity of the "Capitalist Peace" in ancient Greece by conducting a qualitative analysis of …

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The Effect Of Foreign Direct Investment On International Migration: Does Education Matter?, Miao Wang, M. C. Sunny Wong, Jim Granato May 2013

The Effect Of Foreign Direct Investment On International Migration: Does Education Matter?, Miao Wang, M. C. Sunny Wong, Jim Granato

Economics Faculty Research and Publications

Using migration data in 1990 and 2000, we find that inward foreign direct investment (FDI) in non-OECD countries affects the out-migration of individuals with tertiary and secondary education to OECD countries originating the investments, but has no significant effect on the out-migration of individuals with primary education. Distinguishing between linkage and home effects, our results show a dominant home effect of FDI for individuals with tertiary education, but a stronger linkage effect for those with secondary education. The existing stock of former migrants in foreign countries influences the out-migration of individuals with primary education.

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Buy American: Can Businesses Capitalize On The Calls For Patriotic Spending?, Robert Reed May 2013

Buy American: Can Businesses Capitalize On The Calls For Patriotic Spending?, Robert Reed

Undergraduate Honors Theses

This research analyzes the business opportunities created by the "Buy American" movement. Current literature reflects a consensus that most consumers have an initial bias in favor of purchasing domestic products. However, domestic production is frequently more costly than producing abroad. In order for domestic production to increase a firm's profit, consumer willingness to pay more for domestic products is prerequisite. This study investigates whether that prerequisite is satisfied. By collecting revealed preference data from multiple locations, this study finds that, on average, domestic products do carry a price premium over similar foreign imports.

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Institutional Distance And Entry Mode: How Do Emerging-Market Multinational Companies Overcome Competitive Disadvantages In A Developed Market?, Ru-Shiun Liou May 2013

Institutional Distance And Entry Mode: How Do Emerging-Market Multinational Companies Overcome Competitive Disadvantages In A Developed Market?, Ru-Shiun Liou

Graduate Theses and Dissertations

As latecomers to global business competition, emerging-market multinational companies (EMNCs) utilize cross-border merger and acquisitions to swiftly acquire strategic assets, such as brands and distribution channels, compensating for their competency deficiency. Developed markets with well-established firms and well-developed market-supporting institutions become important destinations for EMNCs' strategic asset-seeking investments. Institutional distance, national differences in the institutional environment, constitutes a major source of competitive disadvantage for foreign firms competing with indigenous firms. Foreign firms need to overcome the challenges of unfamiliarity, relational, and discriminatory hazards to establish legitimacy in the host market. Compared to established multinationals that originate from other advanced markets …

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(Wp 2013-05) Future Implications Of Debt And Deleveraging In The United States Economy, Abdur Chowdhury, Patrick Brown May 2013

(Wp 2013-05) Future Implications Of Debt And Deleveraging In The United States Economy, Abdur Chowdhury, Patrick Brown

Economics Working Papers

This paper will take a broad based approach in analyzing the structure of the U.S. economy with a particular emphasis on the disruptive U.S. recession and financial crisis which began circa 2008. The role of the U.S. government and the implications high levels of fiscal debt have on the projected growth path of the U.S. economy will be the primary focus of the paper. The discussion will show that the U.S. has likely entered a new, much more difficult stage in its history of economic growth. The short to medium term growth potential of the U.S. economy has fallen below …

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The Rise Of Political Islam Can The Turkish Model Be Applied Successfully In Egypt? By Dr Taha Kassem, Taha Kassem May 2013

The Rise Of Political Islam Can The Turkish Model Be Applied Successfully In Egypt? By Dr Taha Kassem, Taha Kassem

Topics in Middle Eastern and North African Economies

Although the parliamentary elections run in Egypt in December 2011- January 2012 indicated that Egypt is witnessing an era of political or democratic transformation, they signified the rise of political Islam to authority; the rise which created a lot of debates and posed a lot of questions about the political and economic future of Egypt. The core of these debates circles around these questions: Would Egypt adopt, literally, a rigid pro- Islamic type of rule based on the Islamic Sharia (Islamic Code) or would it adopt a moderate model, like that in Turkey, in its political and economic transformation? Pessimists …

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The Egyptian Revolution And Post Socio-Economic Impact, Doaa S. Abdou, Zeinab Zaazou May 2013

The Egyptian Revolution And Post Socio-Economic Impact, Doaa S. Abdou, Zeinab Zaazou

Topics in Middle Eastern and North African Economies

The Egyptian revolution carries a challenging transition phase, starting out with problems such as low foreign direct investments (FDI), a high budget deficit, a high debt rate, a high unemployment rate, a high poverty rate, and a low standard of living. In addition, the budget deficit is expected to rise from 8.1% in 2009/10 close to 10% in 2010/11, as the interim government boosts spending to offset the impact of the political unrest. The temporary supply shortages that followed the upheaval, coupled with rising international prices of food and fuel have been adding to the pressure on the domestic price …

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Youth Bulges, Poor Institutional Quality And Missing Migration Opportunities - Triggers Of And Potential Counter-Measures For Terrorism In Mena, Rahel Schomaker May 2013

Youth Bulges, Poor Institutional Quality And Missing Migration Opportunities - Triggers Of And Potential Counter-Measures For Terrorism In Mena, Rahel Schomaker

Topics in Middle Eastern and North African Economies

During the last few decades, a convolute of economic literature has emerged which focuses on the effects of demography, in particular the existence of so-called “youth bulges”, on economic growth and performance (for an overview see e.g. Bloom et al. 2001). The approach in our paper extends previous research to include potentially negative growth effects of a large share of young people in the Middle East and North Africa (MENA) not only via the “channel” of unemployment, but also through their potential as a “trigger” for political unrest and domestic terrorism, which have been identified in economic literature as important …

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What Can We Say About Turkey And Its Competitors In The Eu Market? An Analysis By Extensive And Intensive Margins, Seda Ekmen-Özçelik, Güzin Erlat May 2013

What Can We Say About Turkey And Its Competitors In The Eu Market? An Analysis By Extensive And Intensive Margins, Seda Ekmen-Özçelik, Güzin Erlat

Topics in Middle Eastern and North African Economies

No abstract provided.

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Economic Contribution Of Nonresident Travel Spending In Montana Travel Regions And Counties, Kara Grau May 2013

Economic Contribution Of Nonresident Travel Spending In Montana Travel Regions And Counties, Kara Grau

Institute for Tourism and Recreation Research Publications

This report displays the economic contributions of nonresident visitors to Montana during 2012. It is comprised of economic analyses for six Montana travel regions, as well as 15 of the 56 counties in the state.

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Economic Contribution Of Nonresident Travel Spending In Montana Travel Regions And Counties , Kara Grau May 2013

Economic Contribution Of Nonresident Travel Spending In Montana Travel Regions And Counties , Kara Grau

Institute for Tourism and Recreation Research Publications

Nonresident spending is a significant contributor to Montana's economy. Money spent by those traveling to and through the state has an effect not only on the businesses where spending occurs, but it ripples throughout Montana's economy, both locally and regionally. Economic impact analysis allows us to observe the direct and indirect effects of the money spent by nonresident travelers in terms of the economic activity supported by this spending, and the number of jobs and labor income attributable to this spending, as well. This report is comprised of a collection of economic impact analyses for each of Montana's six travel …

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Terrorism And Illicit Drug Prices: Does A Drug-Terror Nexus Exist? A Regression Analysis Of The Relationship Between Illicit Drug Prices And Terrorist Events, Abigail Burnette May 2013

Terrorism And Illicit Drug Prices: Does A Drug-Terror Nexus Exist? A Regression Analysis Of The Relationship Between Illicit Drug Prices And Terrorist Events, Abigail Burnette

Undergraduate Theses and Capstone Projects

Since the September 11th, 2001 terrorist attacks on the United States, global counterterrorism policies have increasingly targeted terrorist financing sources. These increased financial counterterrorism regulations have diverted the traditional sources and methods of terrorist funding, including illicit drug revenue streams. The purpose of this paper is to measure the relationship between terrorist events (both domestic and transnational) and the prices of cocaine and heroin. Using regression analysis, I find that the annual U.S. illicit drug prices of heroin are statistically significant with domestic and transnational terrorist events. These results suggest that future counterterrorism policies should continue to be used in …

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Can Neoclassical Trade Theory Explain Congressional Voting?, John Dellipriscoli May 2013

Can Neoclassical Trade Theory Explain Congressional Voting?, John Dellipriscoli

Master's Theses

The neoclassical trade model has notoriously been unable to empirically predict trade flows throughout the world, however there has been a notion that the same theories and predictions could also be applied to democratic voting on free trade legislation. Using roll-call votes on three 2011 United States bilateral trade agreements with Colombia, Panama, and South Korea, respectively, a simple empirical model based on the neoclassical concepts, specifically the Heckscher-Ohlin and Stolper-Samuelson corollary theorems, is outlined. After an analysis using a logit estimation method, it is revealed that there is conflicting evidence whether the voting on the 2011 free trade agreements …

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American Debtors' Prison: The Rise Of The New York Citizen As A Commercial Participant During The Early American Republic, 1800-1836, Ryan M. Braeger May 2013

American Debtors' Prison: The Rise Of The New York Citizen As A Commercial Participant During The Early American Republic, 1800-1836, Ryan M. Braeger

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The following research explores the development of financial culture in the early American republic through the examination of New York's use of debtors' prisons. Beginning with the construction of the historical context surrounding the passage and abolition of the National Bankruptcy Act of 1800, the project takes use of a series of archival sources that exemplify the character of credit in early American economic practices. The emergence of republican financial culture was often at odds with federal judicial and legislative action, the result of which was the creation of state policy and third party organizations dedicated to solving the plight …

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Foreign Direct Investment, Foreign Aid, And Socioeconomic Infrastructure In Developing Countries, Amrita Ghosh Dastidar May 2013

Foreign Direct Investment, Foreign Aid, And Socioeconomic Infrastructure In Developing Countries, Amrita Ghosh Dastidar

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

During the 1970s and 1980s, developing countries, skeptical of foreign investment, imposed several barriers on entry of foreign capital. However, the late 1980s and 1990s marked the onset of globalization, which integrated the whole world into a single global economy. The once-conservative developing nations, realizing the multifarious benefits of foreign direct investment (FDI), began encouraging entry of foreign firms, using various incentives, such as tax holidays, production subsidies, cash grants, labor training grants, and import duty exemptions. Gradually, FDI and foreign aid became two very important sources of foreign capital for these capital-constrained economies. This dissertation is focused on studying …

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Feasibility And Co-Benefits Of Biomass Co-Firing: Case In Utah, Bibek Paudel May 2013

Feasibility And Co-Benefits Of Biomass Co-Firing: Case In Utah, Bibek Paudel

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

This research examines the physical and economic feasibility of 5% biomass co-firing in the coal-fired power plants of Utah. Transportation models is used to find out the physical feasibility of 5% biomass co-firing, as well as locate the supply zone for each power plant that would minimize the transportation cost. Additional cost required for 5% biomass co-firing and the economic benefits associated with biomass co-firing are calculated. The additional cost required for 5% biomass co-firing is estimated to be $34.84 million. Previous studies on CO2 emission reduction are used to compute the economic benefit attain from CO2 reduction …

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Are Tournaments Optimal Over Piece Rates Under Limited Liability For The Principal?, Kosmas Marinakis, Theofanis Tsoulouhas May 2013

Are Tournaments Optimal Over Piece Rates Under Limited Liability For The Principal?, Kosmas Marinakis, Theofanis Tsoulouhas

Research Collection School Of Economics

A highly acclaimed result is that tournaments are superior to piece rates when the agents are risk averse and their production activities are subject to a relatively large common shock. The reason is that tournaments allow the principal to trade insurance for lower income to the agents. Our analysis shows that this celebrated result does not carry over to the case when a limited liability (bankruptcy) constraint limits the payments the principal can make, provided that the liquidation value of the firm is sufficiently small. This finding has important implications for the vast number of limited liability firms. Even though …

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Lm Tests Of Spatial Dependence Based On Bootstrap Critical Values, Zhenlin Yang May 2013

Lm Tests Of Spatial Dependence Based On Bootstrap Critical Values, Zhenlin Yang

Research Collection School Of Economics

To test the existence of spatial dependence in an econometric model, a convenient test is the Lagrange Multiplier (LM) test. However, evidence shows that, in finite samples, the LM test referring to asymptotic critical values may suffer from the problems of size distortion and low power, which become worse with a denser spatial weight matrix. In this paper, residual-based bootstrap methods are introduced for asymptotically refined approximations to the finite sample critical values of the LM statistics. Conditions for their validity are clearly laid out and formal justifications are given in general, and in details under several popular spatial LM …

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Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang May 2013

Do Singaporeans Spend Too Much On Housing?, Sock Yong Phang

Research Collection School Of Economics

According to a 2011 IMF study, Singapore's level of government intervention in housing finance is the highest in the developed world (Slide 3). This level of intervention in housing finance has correspondingly produced the highest level of homeownership amongst advanced countries. This housing outcome is the result of our very unique HDB-CPF housing framework – an institutional framework that was established in the 1960s during the formative period of our country?s history (Slides 4 and 5). Singapore was, at that particular point in time, faced with a situation of chronic housing shortage, low homeownership rates and an underdeveloped housing mortgage …

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Nonparametric Dynamic Panel Data Models With Interactive Fixed Effects: Sieve Estimation And Specification Testing, Liangjun Su, Yonghui Zhang May 2013

Nonparametric Dynamic Panel Data Models With Interactive Fixed Effects: Sieve Estimation And Specification Testing, Liangjun Su, Yonghui Zhang

Research Collection School Of Economics

In this paper we analyze nonparametric dynamic panel data models with interactive fixed effects, where the predetermined regressors enter the models nonparametrically and the common factors enter the models linearly but with individual specific factor loadings. We consider the issues of estimation and specification testing when both the cross-sectional dimension and the time dimension are large. We propose sieve estimation for the nonparametric function by extending Bai’s (2009) principal component analysis (PCA) to our nonparametric framework. Based on the asymptotic expansion of the Gaussian quasi-log-likelihood function, we derive the convergence rate for the sieve estimator and establish its asymptotic normality. …

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On Domains That Admit Well-Behaved Strategy-Proof Social Choice Functions, Shurojit Chatterji, Rezmi Sanver, Arunava Sen May 2013

On Domains That Admit Well-Behaved Strategy-Proof Social Choice Functions, Shurojit Chatterji, Rezmi Sanver, Arunava Sen

Research Collection School Of Economics

In this paper, we investigate domains that admit “well-behaved” strategy-proof social choice functions. We show that if the number of voters is even, then every domain that satisfies a richness condition and admits an anonymous, tops-only, unanimous and strategy-proof social choice function, must be semi-single-peaked. Conversely every semi-single-peaked domain admits an anonymous, tops-only, unanimous and strategy-proof social choice function. Semi-single-peaked domains are generalizations of single-peaked domains on a tree introduced by Demange (1982).

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A Nonparametric Poolability Test For Panel Data Models With Cross Section Dependence, Sainan Jin, Liangjun Su May 2013

A Nonparametric Poolability Test For Panel Data Models With Cross Section Dependence, Sainan Jin, Liangjun Su

Research Collection School Of Economics

In this article we propose a nonparametric test for poolability in large dimensional semiparametric panel data models with cross-section dependence based on the sieve estimation technique. To construct the test statistic, we only need to estimate the model under the alternative. We establish the asymptotic normal distributions of our test statistic under the null hypothesis of poolability and a sequence of local alternatives, and prove the consistency of our test. We also suggest a bootstrap method as an alternative way to obtain the critical values. A small set of Monte Carlo simulations indicate the test performs reasonably well in finite …

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