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2013

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Articles 991 - 1020 of 1526

Full-Text Articles in Economics

Steam...Now!, John Eger Mar 2013

Steam...Now!, John Eger

The Transdisciplinary STEAM+ Journal

With America slowly awakening to the need to turn out creative and innovative workers who can join the 21st century (its already 2012) workplace -- because they have the new thinking skills --we have to change the current emphasis on STEM, for Science, Technology, Engineering and Math to STEAM, by insuring that the whole brain is nurtured through the arts: thus STEAM.

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Contending Theories Of Wage Determination: An Intersectoral Analysis Of Real Wage Growth In The U.S. Economy, James Sheffield Mar 2013

Contending Theories Of Wage Determination: An Intersectoral Analysis Of Real Wage Growth In The U.S. Economy, James Sheffield

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

In recent years, social movements and popular media have drawn attention to the issue of income inequality in the United States. This growing inequality in the distribution of income is often seen as a function of stagnating wage growth in the U.S. economy. There appears to be a fairly broad consensus among commentators that wage growth for many workers in the U.S. has stagnated in recent decades, though the precise causes and implications of this trend are a matter of considerable dispute. Some see it as a function of stagnant productivity growth, while others attribute it to the declining strength …

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An Agenda For Reviving Islamic Finance, Ishrat Husain Dr. Mar 2013

An Agenda For Reviving Islamic Finance, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

Islamic Finance is still a small player in Global Financial System with a share of less than 2 percent. The growth has been impressive but the takeoff has been bumpy. The vision of Islamic Finance is to offer itself as a source of stability to the Global Financial System that is coming out of a crisis of gigantic proportions –next only to the Great Depression of 1930s. If Islamic Finance can demonstrate that its unique and distinctive features and asset-backed transactions are able to reduce the fragility and volatility of the financial system in a convincing manner then there would …

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Migration And Children's School And Labor: Evidence From El Salvador, Zachary Intemann Mar 2013

Migration And Children's School And Labor: Evidence From El Salvador, Zachary Intemann

Master's Theses

This paper examines the impact of parental migration on schooling outcomes for children left behind in El Salvador. Using cross sectional data collected in 2012, outcomes for children are observed for children with migrant parents. The outcomes are also analyzed by gender of the migrant parent who left his or her child behind. Results are observed using instrumental variable estimations, as well as a seemingly unrelated regression to estimate the impact of migration on a child’s time allocation. Outcomes are also analyzed measuring the impact of remittances. Results show that children with at least one migrant parent will complete more …

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‘Big Bang’ Opportunity, Ishrat Husain Dr. Mar 2013

‘Big Bang’ Opportunity, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The proponents of “big bang” reforms argue that the latter will bring about a fundamental shift in people’s expectations about the future by altering the existing structure of the economy. Detractors say that the resulting dislocation to the economy and uncertainty will do more harm than good. The capacity of the state to implement so many sectoral and micro-economic reforms simultaneously is limited and therefore the risks of failure are high. They point to the sale of state-owned assets at rock-bottom prices to a group of Russian oligarchs — a direct result of hasty, ill-prepared and opaque privatisation. Faced with …

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What Are The Effects Of Mergers In The U.S. Airline Industry? An Econometric Analysis On Delta-Northwest Merger, Jiajun Liang Mar 2013

What Are The Effects Of Mergers In The U.S. Airline Industry? An Econometric Analysis On Delta-Northwest Merger, Jiajun Liang

The Macalester Review

The Delta-Northwest Merger in 2008 has significantly reshaped the airline market structure and raised public concerns regarding market dominance. In this study, I will employ OLS techniques to examine the effects of merger on airfares, using more than 1,000 observations from 2008 and 2009 airline markets. Results show the belief that unbalanced market share will lead to heightened airfares misleading and unreliable. There is no significant evidence suggesting positive or negative correlations between airport dominance and airfares.

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Narayana Kocherlakota’S Evolution As A Central Banker, Louis D. Johnston Mar 2013

Narayana Kocherlakota’S Evolution As A Central Banker, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

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Economists' Odd Stand On The Positive-Normative Distinction: A Behavioral Economics View, John B. Davis Mar 2013

Economists' Odd Stand On The Positive-Normative Distinction: A Behavioral Economics View, John B. Davis

Economics Faculty Research and Publications

This chapter examines economists’ indefensible attachment to the positive-normative distinction, and suggests a behavioral economics explanation of their behavior on the subject. It reviews the origins of the distinction in Hume’s guillotine and logical positivism, and shows how they form the basis for Robbins’ understanding of value neutrality. It connects philosophers’ rejection of logical positivism to their rejection of the positive-normative distinction, explains and modifies Putnam’s view of fact-value entanglement, and identifies four main ethical value judgments that contemporary economists employ. The behavioral explanation of economists’ denial of these value judgments emphasizes loss aversion and economists’ social identity as economists

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Building The Science Of Public Health Delivery: Advances In Public Health Services And Systems Research, Glen P. Mays Mar 2013

Building The Science Of Public Health Delivery: Advances In Public Health Services And Systems Research, Glen P. Mays

Health Management and Policy Presentations

Efforts to improve the health and economic performance of the U.S. health system require evidence about how best to deliver public health strategies that protect health and prevent disease and injury on a population-wide basis. The field of public health services and systems research is building a "science of delivery" in public health that complements the evidence-based practice movement in medical care.

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The Causal Effect Of Market Priming On Trust: An Experimental Investigation Using Randomized Control, Omar Al-Ubaydli, Daniel E. Houser, John Nye, Maria Pia Paganelli, Xiaofei Pan Mar 2013

The Causal Effect Of Market Priming On Trust: An Experimental Investigation Using Randomized Control, Omar Al-Ubaydli, Daniel E. Houser, John Nye, Maria Pia Paganelli, Xiaofei Pan

Economics Faculty Journal Articles

We report data from laboratory experiments where participants were primed using phrases related to markets and trade. Participants then participated in trust games with anonymous strangers. The decisions of primed participants are compared to those of a control group. We find evidence that priming for market participation affects positively the beliefs regarding the trustworthiness of anonymous strangers and increases trusting decisions.

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Social Costs Of Jobs Lost Due To Environmental Regulations, Timothy J. Bartik Mar 2013

Social Costs Of Jobs Lost Due To Environmental Regulations, Timothy J. Bartik

Upjohn Institute Working Papers

This paper estimates the social costs of job loss due to environmental regulation. Per job lost, potential social costs of job loss are high, plausibly over $100,000 in present value costs (2012 dollars) per permanently lost job. However, these social costs will typically be far less than the earnings associated with lost jobs, because labor markets and workers adjust, increased leisure has some value, and employers benefit from wage reductions. A plausible range for social costs is 8–32 percent of the associated earnings of the lost jobs. Social costs will be higher for older workers, high-wage jobs, and in high …

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The Causal Effect Of Market Priming On Trust: An Experimental Investigation Using Randomized Control, Omar Al-Ubaydli, Daniel Houser, John Nye, Maria Pia Paganelli, Xiaofei Sophia Pan Mar 2013

The Causal Effect Of Market Priming On Trust: An Experimental Investigation Using Randomized Control, Omar Al-Ubaydli, Daniel Houser, John Nye, Maria Pia Paganelli, Xiaofei Sophia Pan

Economics Faculty Research

We report data from laboratory experiments where participants were primed using phrases related to markets and trade. Participants then participated in trust games with anonymous strangers. The decisions of primed participants are compared to those of a control group. We find evidence that priming for market participation affects positively the beliefs regarding the trustworthiness of anonymous strangers and increases trusting decisions.

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The Impact Of The Kalamazoo Promise On College Choice: An Analysis Of Kalamazoo Area Math And Science Center Graduates, Michelle Miller-Adams, Bridget Timmeney Mar 2013

The Impact Of The Kalamazoo Promise On College Choice: An Analysis Of Kalamazoo Area Math And Science Center Graduates, Michelle Miller-Adams, Bridget Timmeney

Upjohn Institute Policy Papers

The Kalamazoo Promise has led to a pronounced shift in the college-going patterns of Kalamazoo Public Schools (KPS) students who attend the Kalamazoo Area Math and Science Center (KAMSC). Following the introduction of the Kalamazoo Promise in 2005, the percentage of KPS KAMSC students attending public, in-state institutions of higher education has almost doubled—a shift that reflects the program rules of the Promise, which covers tuition and fees only at public postsecondary institutions in Michigan. The percentage of non-KPS KAMSC students attending an in-state, public institution also rose in the post-2006 period but only very slightly, suggesting that the Promise …

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The Youth Bulge, Ishrat Husain Dr. Mar 2013

The Youth Bulge, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The focus on short-term economic difficulties – the fiscal deficit, inflation, the exchange rate and foreign exchange reserves – is rendering us oblivious to an impending human resource crisis. There is barely any awareness or realisation of this, among public policy makers or even opinion makers.

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Turning Followers Into Dollars: The Impact Of Social Media On A Movie’S Financial Performance, Joshua J. Kaplan Mar 2013

Turning Followers Into Dollars: The Impact Of Social Media On A Movie’S Financial Performance, Joshua J. Kaplan

Undergraduate Economic Review

This paper examines the impact of social media, specifically Twitter, on the domestic gross box office revenue of 207 films released in the United States between 2009 and 2011. We find that under two different specifications the impact of Twitter on gross revenue and gross revenue per theater is statistically significant when accounting for several control variables. The models show statistical significance of runtime, and production budget. We also find that a film’s release period, genre, rating received, and whether or not it is based on previous material proved to be statistically significant factors in determining a film's domestic gross.

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The Natural: How One High School Football Star, Economics Major, Ex-It Manager, Red Sox Fan, Proponent Of A "No-Jerks" Policy, And Kids' Baseball Coach Has Risen To The Top Of International Banking, Gerry Boyle Mar 2013

The Natural: How One High School Football Star, Economics Major, Ex-It Manager, Red Sox Fan, Proponent Of A "No-Jerks" Policy, And Kids' Baseball Coach Has Risen To The Top Of International Banking, Gerry Boyle

Colby Magazine

Bob Diamond ’73 is an ex-linebacker, former IT manager, devoted Red Sox fan, and youth baseball coach. He also has managed to rise to—and excel at—the highest levels of international banking.

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Penchant For Property Drives Buoyant Market, Singapore Management University Mar 2013

Penchant For Property Drives Buoyant Market, Singapore Management University

Perspectives@SMU

The catch phrase “location, location, location” is often cited by the real estate industry as crucial to closing a deal. In the case of land-scarce Singapore, its citizens’ penchant for property is giving Mr Patrick Liew, CEO of real estate company HSR Property Group, much cause for optimism as he says he is “very excited” at the opportunities available in the robust property market.

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Valuing Employee Stock Options, Kevin F. Hallock Mar 2013

Valuing Employee Stock Options, Kevin F. Hallock

Economics Faculty Publications

It helps to remember that employee options and market-traded options are quite different. The difference between them makes valuing employee options more complicated, but it also offers a lesson about how the employer's cost for a given piece of the total rewards package may not be the same as its value to a given employee. Organizations too often miss this and, as a result, can find themselves leaving money on the table. A stock option is the right to buy a share of stock at a specific price (called the strike or exercise price) at some point in the future. …

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Rhode Island Current Conditions Index -- March 2013, Leonard Lardaro Mar 2013

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

The Rhode Island Current Conditions Index

No abstract provided.

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Risk-Neutral Modeling With Affine And Nonaffine Models, Garland Bennett Durham Mar 2013

Risk-Neutral Modeling With Affine And Nonaffine Models, Garland Bennett Durham

Finance

Option prices provide a great deal of information regarding the market’s expectations of future asset price dynamics. But, the implied dynamics are under the risk-neutral measure rather than the physical measure under which the price of the underlying asset itself evolves. This article demonstrates new techniques for joint analysis of the physical and risk-neutral models using data from both the underlying asset and options. While much of the prior work in this area has focused on affine and affine-jump models because of their analytical tractability, the techniques used in this article are straightforward to apply to a broad class of …

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Binding Promises And Cooperation Among Strangers, Gabriele Camera, Marco Casari, Maria Bigoni Mar 2013

Binding Promises And Cooperation Among Strangers, Gabriele Camera, Marco Casari, Maria Bigoni

Economics Faculty Articles and Research

In an experiment, a group of strangers was randomly divided in pairs to play a prisoners’ dilemma; this process was indefinitely repeated. Cooperation did not increase when subjects could send public messages amounting to binding promises of future play.

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Institutions, The State, And Economic Development: An Analysis And Evaluation Of Ha-Joon Chang's Critique Of The Dominant Discourse And His Thoughts On State-Led Development Theory, Luke M. Jackson Mar 2013

Institutions, The State, And Economic Development: An Analysis And Evaluation Of Ha-Joon Chang's Critique Of The Dominant Discourse And His Thoughts On State-Led Development Theory, Luke M. Jackson

Electronic Theses and Dissertations

This paper examines two distinct schools of thought on how to best spur economic activity in developing economies. Mainstream economists, like Hernando De Soto and Douglass North, argue private property rights and free markets, and the institutions which nourish and protect them, are the primary driver of economic growth. Heterodox economists, led by prominent author and economist Ha-Joon Chang, acknowledge institutions play an important role in inducing economic activity but challenge the notion institutions are the primary driver of development. They argue targeted state-led investment and regulation are as important, if not more important, than protecting market freedom and private …

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The Impact Of Education On Unemployment In Kentucky, Christopher R. Bollinger Mar 2013

The Impact Of Education On Unemployment In Kentucky, Christopher R. Bollinger

Issue Brief on Topics Affecting Kentucky’s Economy

No abstract provided.

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Managing Innovation, Bonnie Bachman, Stephen O. Bozzone Mar 2013

Managing Innovation, Bonnie Bachman, Stephen O. Bozzone

Economics Faculty Research & Creative Works

The term innovation is one of the most misused and poorly defined terms when discussing economic growth and development. Innovation typically has a modifier in front to distinguish varying levels of value delivered and the impact to the market and some cases the world. ConradWai, CEO of Jump Ventures, defines three types of innovation: Sustaining Innovations maintain or grow market share, improve profit by gaining efficiencies and reducing costs, and often are seen as incremental improvements. The end goal for any sort of innovation pursuit is to create value. By creating something of value one hopes to attract a buyer …

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A Framework For Oil Price Benchmark Determination: Lessons For Nigeria, Taiwo H. Sanni, Bassey D. Akpan Mar 2013

A Framework For Oil Price Benchmark Determination: Lessons For Nigeria, Taiwo H. Sanni, Bassey D. Akpan

Bullion

The main thrust of this paper is to draw lessons of experience from other selected oil producing countries. the outcome of the study is expected to help in strengthening Nigeria's oil price framework in line with international best practice. Section 2 dwells on the theoretical and literature review on oil based fiscal rule, while section 3 presents the framework for oil price benchmark determination and section 4 examines those factors capable of stimulating determination of oil price benchmark, lastly section 5 discusses some lessons of experience from Nigeria and then the conclusion.

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Nigeria 2002- 2012: High Economic Growth Rate, High Incidence Of Poverty, Why?, Mbutor O. Mbutor, Uba, I. Al-Hassan Mar 2013

Nigeria 2002- 2012: High Economic Growth Rate, High Incidence Of Poverty, Why?, Mbutor O. Mbutor, Uba, I. Al-Hassan

Bullion

Contrary to the widely held opinion that it is unthinkable that the Nigerian economy would have grown at the rate it did in the last decade and yet the incidence of poverty persisted, even grew higher, growth could actually occur without increasing employment or reducing poverty. This is possible if the economy were allowed to grow without a conscious effort to direct the direction of growth to the policymakers to make concerted efforts to smoothen the path of growth and introduce policies that will make growth pro-poor programmes is the one being currently pursued by the Central Bank of Nigeria, …

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Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo Mar 2013

Fuel Subsidy And Other Unproductive Public Expenditures Removal: A Pragmatic Approach To Restructure And Transform The Nigerian Economy, Lawrence O. Akinboyo

Bullion

While the short term measures to reduce recurrent expenditure are necessary conditions for fiscal sustainability, the long term imperative is to increase revenue. Thus, efforts should be made by the fiscal authorities in Nigeria to pursue the policy of balancing of expenditure with revenue improvements. The issues of the underperformance of the capital budget should be reversed before savings from cuts in recurrent expenditure can be diverted to the financing of capital expenditure. From the analysis, we say that removal of fuel subsidy would no doubt have some social and economic hardship on the people in the short run, However, …

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Financial Inclusion Initiatives And National Economic Development, Paul N. Eluhaiwe Mar 2013

Financial Inclusion Initiatives And National Economic Development, Paul N. Eluhaiwe

Bullion

The paper present a clear understanding of the term financial inclusion, its role in economic development, measures being adopted to forge financial inclusion by selected countries and the attempt being made by Nigerian to follow suit. Section two of this paper gives an overview of the concept financial inclusion, section three highlights the difference between financial inclusion and economic development. Section four presents country experiences on financial inclusion followed by highlights of the current state of financial inclusion in Nigeria.

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Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere Mar 2013

Financial Inclusion In Nigeria: Measurements And Lessons, David Olu Ajakaiye, Afolabi Olowookere

Bullion

The operations of financial systems are crucial to people’s savings, credit, payment and risk management needs. More importantly, the inclusiveness of this system tends to benefit the poor and other disadvantaged groups in the society (Demirguckunt and Klapper, 2012). In the definition of the Centre for Financial Inclusion, “Full Financial Inclusion is a state in which all people who can use them have access to a suite of quality financial services, provided at affordable prices, in a convenient manner, and with dignity for the client” (Gardeva and Rynne, 2011). This entails building a financial system that serves as many people …

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Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun Mar 2013

Communicating Financial Inclusion Policy In Nigeria: The Role Of The Media, Frank Aigbogun

Bullion

The Central Bank of Nigeria (CBN) has shown great foresight in the effort to ensure that greater numbers of Nigerians that are currently financially excluded are brought into the fold, through effective policy initiatives that are hinged on global best practices. For instance, in 2012 the Bank incorporated information and knowledge that will eventually lead to the formulation to amend existing regulatory frameworks, including recommendations on microfinance, mobile financial services (MFS) and agent banking. The CBN’s aim of educating and imparting skills on financial system inclusion to journalists who through their media would inform the general public about this all-important …

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