Economics Commons^™

Montana Nonresident Traveler Quarterly Travel Comparison: 2012, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the 2012 quarterly visitation and length of stay data for nonresident travelers to Montana. It also displays average daily spending for various expenditure categories, as well as total expenditures for those categories.

Why Risk It? The Effect Of Risk And Time Preferences On Microfinance Loan Default, Nike Start

Master's Theses

Microfinance is widely recognized as a powerful method for poverty

alleviation. However, little is known about the characteristics of those who

default on their loans. Understanding the behavior of borrowers is an important

component of mitigating adverse selection and the moral hazard of lending. Both

of these concepts embody some of the greatest challenges faced by microfinance

institutions, and they provide the major motivation for this study. Accordingly,

the main objective of this research is to investigate whether non-delinquent

borrowers and delinquent borrowers of a microfinance institution reveal any

difference in their level of risk preference and time preference. This …

Local Linear Gmm Estimation Of Functional Coefficient Iv Models With Application To The Estimation Of Rate Of Return To Schooling, Liangjun Su, Irina Murtazashvili, Aman Ullah

Research Collection School Of Economics

We consider the local linear GMM estimation of functional coe cient models with a mix of discrete and continuous data and in the presence of endogenous regressors. We establish the asymptotic normality of the estimator and derive the optimal instrumental variable that minimizes the asymptotic variance-covariance matrix among the class of all local linear GMM estimators. Data-dependent bandwidth sequences are also allowed for. We propose a nonparametric test for the constancy of the functional coefficients, study its asymptotic properties under the null hypothesis as well as a sequence of local alternatives and global alternatives, and propose a bootstrap version for …

Nonparametric Testing For Asymmetric Information, Liangjun Su, Martin Spindler

Research Collection School Of Economics

Asymmetric information is an important phenomenon in many markets and in particular in insurance markets. Testing for asymmetric information has become a very important issue in the literature in the last two decades. Almost all testing procedures that are used in empirical studies are parametric, which may yield misleading conclusions in the case of misspecification of either functional or distributional relationships among the variables of interest. Motivated by the literature on testing conditional independence, we propose a new nonparametric test for asymmetric information, which is applicable in a variety of situations. We demonstrate that the test works reasonably well through …

Testing Monotonicity In Unobservables With Panel Data, Liangjun Su, Stefan Hoderlein, Halbert White

Research Collection School Of Economics

Monotonicity in a scalar unobservable is a crucial identifying assumption for an important class of nonparametric structural models accommodating unobserved heterogeneity. Tests for this monotonicity have previously been unavailable. This paper proposes and analyzes tests for scalar monotonicity using panel data for structures with and without time-varying unobservables, either partially or fully nonseparable between observables and unobservables. Our nonparametric tests are computationally straightforward, have well behaved limiting distributions under the null, are consistent against precisely specified alternatives, and have standard local power properties. We provide straightforward bootstrap methods for inference. Some Monte Carlo experiments show that, for empirically relevant sample …

Impact Of Food Inflation On Poverty In The Philippines, Tomoki Fujii

Research Collection School Of Economics

We simulate the impact of food inflation between June 2006 and June 2008 on poverty across different areas and between agricultural and non-agricultural households. We explicitly treat the spatial heterogeneity in food inflation and the differences in consumption and production patterns across households by merging household expenditure survey and price datasets at the provincial level or lower. Although some of the poor agricultural households may have escaped poverty, the poorest of the poor, whether they are in an agricultural household or not, are severely and adversely affected by the food inflation.

Collusion Set Detection Using A Quasi Hidden Markov Model, Zhengxiao Wu, Xiaoyu Wu

Research Collection School Of Economics

In stock market, a collusion set is defined as a group of individuals or organizations who act cooperatively with an intention of manipulating security price. Collusion-based malpractices impose large costs on the economy, but few techniques have yet been developed for collusion set detection. In this article, we propose a quasi hidden Markov model (QHMM) approach. In particular, we consider the transactions as a marked point process with hidden states, and we calculate the class conditional probabilities to identify the malicious transactions. The detection algorithms associated with the model are recursive, hence suitable for online monitoring and detection. The QHMM …

A Smooth Test For The Equality Of Distributions, Anil Bera, Aurobindo Ghosh, Zhijie Xiao

Research Collection School Of Economics

The two-sample version of the celebrated Pearson goodness-of-fit problem has been a topic of extensive research, and several tests like the Kolmogorov-Smirnov and Cramer-von Mises have been suggested. Although these tests perform fairly well ´ as omnibus tests for comparing two probability density functions (PDFs), they may have poor power against specific departures such as in location, scale, skewness, and kurtosis. We propose a new test for the equality of two PDFs based on a modified version of the Neyman smooth test using empirical distribution functions minimizing size distortion in finite samples. The suggested test can detect the specific directions …

Children, Spouses, And Attitudes: Impact On Women's Work Status, Mengxi Li Seeley, James B. Mcdonald

FHSS Mentored Research Conference

Women face unique challenges in their balancing of career and family. Some questions women consider include children and childcare, spouses' earning potential and relationship stability, and their own attitudes on family relationships and gender roles. This study uses probit and probit with instrumental variables to examine the effects of these considerations on women's fulltime work status, the dependent variable. Under the assumption of traditional social views regarding men as breadwinners and women as nurturers, increased childcare pressures and spousal potential to provide are expected to decrease the incentive for women to work fulltime. The results of this study are mostly …

Uniqueness And Symmetry In Bargaining Theories Of Justice, John Thrasher

Philosophy Faculty Articles and Research

For contractarians, justice is the result of a rational bargain. The goal is to show that the rules of justice are consistent with rationality. The two most important bargaining theories of justice are David Gauthier’s and those that use the Nash’s bargaining solution. I argue that both of these approaches are fatally undermined by their reliance on a symmetry condition. Symmetry is a substantive constraint, not an implication of rationality. I argue that using symmetry to generate uniqueness undermines the goal of bargaining theories of justice.

Cost Estimation Methods: Strategies And Examples For Public Health Services & Systems Research, Glen P. Mays

Health Management and Policy Presentations

This webinar reviews methods for conducting cost studies in public health settings, including strategies for estimating the financial and ecnomic costs of delivering public health services, and analytic approaches to identifying factors that influence delivery costs. These types of studies are of increasing importance to policy and practice stakeholders given the need for evidence about the return-on-investment (ROI) generated through public health delivery.

Renowned Economist Discusses Disparity Of Wealth, Kim Hill

News and Events (Discontinued Series)

No abstract provided.

Say Pays! Shareholder Voice And Firm Performance, Maria Guadalupe, Vicente Cuñat, Mireia Gine

Upjohn Institute Policy Papers

This paper estimates the effect of increasing shareholder “voice” in corporations through a new governance rule that provides shareholders with a regular vote on pay: Say on Pay. We apply a regression discontinuity design to Say on Pay shareholder proposals to deal with prior expectations and the endogeneity of internal governance rules. Adopting Say on Pay leads to large increases in market value (5.4 percent), firm profitability, and long-term performance. In contrast, we find small effects on the level and structure of pay. This suggests that Say on Pay operates as a regular confidence vote, increasing efficiency, and market value.

Can Female Entrepreneurship Programmes Support Social And Solidarity Economy? Insights From China And India, Tonia Warnecke

Faculty Publications

Increases in overall female entrepreneurship do not guarantee improvements in women’s socioeconomic status; much depends on whether the entrepreneurship is based on opportunity or necessity. In countries like China and India, women tend to be necessity entrepreneurs in the informal sector, with lower income and little potential for career advancement. While these countries have devoted significant resources toward programmes aiming to increase female entrepreneurship, not all of these programmes support opportunity entrepreneurship. An even larger question is whether these programmes support or challenge Social and Solidarity Economy (SSE). In addition to solidarity microfinance schemes around the world, Self-Employed Women’s Association …

Accelerating And Expanding Knowledge Transfer In Public Health Settings: Frontiers In Phssr, Glen P. Mays

Health Management and Policy Presentations

Creating a "rapid-learning" system in public health requires mechanisms for the continuous exchange of knowledge and evidence among researchers, practice settings, and policy decision-makers. The open-access platform Frontiers in Public Health Services and Systems Research provides a new mechanism for this exchange.

Existing Evidence Of The Business Case For Investments In Nursing Care, Olga Yakusheva, Douglas Wholey, Kevin D. Frick

Economics Faculty Research and Publications

No abstract provided.

Towards Re-Thinking Ecology: Investigating The Influence Of Behavioral Economics On Ecological Thought, Ned Weidner

LUX: A Journal of Transdisciplinary Writing and Research from Claremont Graduate University

The current mainstream ecological discourse among environmental activists seems to be focused on changing the current paradigm of ecological thinking towards one focused primarily on sustainability through a deeper connection with the Earth. Often these activists argue this deeper connection with the Earth is best achieved through a paradigmatic change in thinking. It is the argument of this paper that those who champion a paradigmatic shift in thinking towards sustainability need to re-think their plan of action for creating a sustainable relationship with the Earth’s environment because changing society’s way of viewing ecological matters as a way to create a …

A Statistical Analysis Of Public Sector Corruption And Economic Growth, Kaycea Campbell

LUX: A Journal of Transdisciplinary Writing and Research from Claremont Graduate University

This study reports on the results of a statistical analysis in which the relationship between the independent variable of corruption, as measured by the World Bank, and the dependent variable of economic growth, as measured by percentage of GDP growth per year, was examined. The purpose of this study is to apply empirical methods to the debate on corruption and growth, in which neoclassical theory predicts that corruption retards growth but in which other models, such as Lewis growth and the Kuznets Curve, suggest that corruption may actually speed up growth in underdeveloped countries. The main finding of the study …

Understanding The Ocean Economy Within Regional And National Contexts, Charles S. Colgan, Judith T. Kildow Dr

Presentations

• Extending discussion of the ocean economy beyond “How Big”

– Changes in the U.S. related to the Great Recession

– Decomposing changes to major types of change

– Finding relative sizes

• Exploring the expanding attention to the ocean economy in other parts of the world

– Likenesses and differences in:

• Definitions
• Measures
• Geographies
• Purposes

Where do we go from here?

2

Review Of Proposed Zoning Bylaw Amendments & Concept Plan For 129 Parker Street, Maynard, Ma, Edward J. Collins, Jr. Center For Public Management, University Of Massachusetts Boston

Edward J. Collins Center for Public Management Publications

The Edward J. Collins, Jr. Center for Public Management was hired by the Town of Maynard to analyze the proposed amendment to the Neighborhood Business Overlay District (NBOD) of the Maynard Zoning Bylaw and associated concept plan for the property located at 129 Parker Street in Maynard. The bylaw amendment and concept plan have been proposed by Capital Group Properties, LLC, the developer of the site. Specifically, the Center was tasked with preparing the following materials:

• Task 1 – Economic Development and Impact Study;
• Task 2 – Traffic Peer Review and Analysis; and,
• Task 3 – Recommendations on proposed bylaw …

An Accounting Exercise For The Shift In Life-Cycle Employment Profiles Of Married Women Born Between 1940 And 1960, Sebastien Buttet, Alice Schoonbroodt

Publications and Research

Life-cycle employment profiles of married women born between 1940 and 1960 shifted upwards and became flatter. We calibrate a dynamic life-cycle model of employment decisions of married women to assess the quantitative importance of three competing explanations of the change in employment profiles: the decrease and delay in fertility, the increase in relative wages of women to men, and the decline in child-care costs. We find that the decrease and delay in fertility and the decline in child-care cost affect employment very early in life, while increases in relative wages affect employment increasingly with age. Changes in relative wages, in …

The Readability Of Principles Of Macroeconomics Textbooks, Sarah Tinkler, James Woods

Economics Faculty Publications and Presentations

The authors evaluated principles of macroeconomics textbooks for readability using Coh-Metrix, a computational linguistics tool. Additionally, they conducted an experiment on Amazon’s Mechanical Turk Web site in which participants ranked the readability of text samples. There was a wide range of scores on readability indexes both between textbooks and within textbooks. Results from the Mechanical Turk experiment revealed that the Flesch Reading Ease Index does not predict which samples readers will prefer, but readers do prefer samples that are thematically similar, as identified by Latent Semantic Analysis. There were differences in the responses of native and non-native-but-proficient English speakers to …

Minnesota Needs An Economic Report To The Governor — Just Like The President Gets, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

A Critical Assessment Of The Determinants Of Presidential Election Outcomes, Ryan Sweezey

Undergraduate Student Research Awards

No abstract provided.

The Future Of Learning, Robert B. Reich

New England Journal of Public Policy

As part of UMass Boston’s recent celebration to mark the inauguration of Chancellor Michael F. Collins, M.D., the Division of Corporate, Continuing and Distance Education (CCDE) hosted a “virtual symposium” featuring Robert B. Reich. Between April 24 and May 8, CCDE posted a streaming video and a downloadable audio file of a presentation that Professor Reich had delivered on April 11, 2006 at the national conference of the University Continuing Education Association. This talk was supplemented, on May 3, by a live teleconferencing Q&A session with Professor Reich and about fifty UMass Boston graduate students.

This article originally appeared in …

Seeking Peace In The Niger Delta: Oil, Natural Gas, And Other Vital Resources, Darren Kew, David L. Phillips

New England Journal of Public Policy

Nigeria’s oil-rich Niger Delta region has seen little benefit from the billions of dollars earned from oil over the last four decades, prompting a growing but disorganized insurgency across the region. Irresponsible oil companies and government officials have reduced the Niger Delta to one of the most polluted environments on earth. Corrupt local and national politicians, many of whom came to power through rigged elections, have colluded to manipulate ethnic divisions amid poverty to loot the region’s wealth. Consequently, the people of the Niger Delta have no formal political voice in Nigeria’s nascent democratic system, increasing the appeal of militias …

Grinding Decline In Springfield: Is The Finance Control Board The Answer?, Robert Forrant

New England Journal of Public Policy

Springfield, Massachusetts, the Bay State’s third largest city, suffered staggering manufacturing job loss over the last thirty years of the twentieth century. In 2004, the financial impact of job loss, coupled with dubious fiscal management, plunged the city into near bankruptcy. In response, state government passed legislation appointing a Finance Control Board to manage city business. Wage freezes for City workers were continued and cuts in numerous essential services occurred to deal with the debt. But the question remains, can a Control Board approach grow a large stock of well-paying jobs — large enough to grow the city’s and the …

An Empirical Assessment Of The Performance And Competitive Effects Of Los Angeles County Charter Schools, Sam Trachtman

Undergraduate Economic Review

This paper evaluates the performance of charter elementary schools in Los Angeles County in three ways. First, I compare charter school performance to public school performance, controlling for a number of key characteristics. Second, I study the characteristics that appear to influence charter school success as compared to public school success. Third, I study the “competitive effect” of charter schools, examining how geographical proximity to charter schools affects the performance of traditional public schools. I find evidence that, ceteris paribus, traditional public schools score higher than charter schools, except in majority African American schools. Further, I find that the opening …

Working Paper No. 09, Martin Heidegger: A Compromised Man, Mark Miller

Working Papers in Economics

This inquiry seeks to establish that Martin Heidegger registered as a compromised man in his ethics and philosophy. First, through analyzing Heidegger’s roots in Aristotle and the Pre-­Socratics, this inquiry will introduce Heidegger’s philosophical compatibility with the Nazi Party. After deciphering his rectorial address in 1933 and subsequent actions during his rectorship of the University of Freiburg, this inquiry considers the level of Nazi indoctrination in Heidegger’s work. Finally, this inquiry carefully considers Heidegger’s compromised character through his actions in the post-­‐rectorate phase.

Inaugural Robert S. Eckley Lecture In Economics, Sherry Wallace

News and Events (Discontinued Series)

No abstract provided.