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2014

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Articles 181 - 210 of 1582

Full-Text Articles in Economics

Trade And Divergence In Education Systems, Fali Huang, Pao-Li Chang Nov 2014

Trade And Divergence In Education Systems, Fali Huang, Pao-Li Chang

Research Collection School Of Economics

This article presents a theory on the endogenous choice of education policy and the two-way causal relationship between trade and education systems. A country’s education system determines its talent distribution and comparative advantage; the possibility of trade by raising the returns to the sector of comparative advantage in turn induces countries to further differentiate their education systems and reinforces the initial pattern of comparative advantage. Specifically, the Nash equilibrium choice of education systems by two countries interacting strategically are necessarily more divergent than their autarky choices, and yet less than what is socially optimal for the world.

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Mutual Funds And Information Diffusion: The Role Of Country-Level Governance, Chunmei Lin, Massimo Massa, Hong Zhang Nov 2014

Mutual Funds And Information Diffusion: The Role Of Country-Level Governance, Chunmei Lin, Massimo Massa, Hong Zhang

Research Collection Lee Kong Chian School Of Business

We hypothesize that poor country-level governance, which makes public information less reliable, induces fund managers to increase their use of semipublic information. Utilizing data from international mutual funds and stocks over the 2000-2009 period, we find that semipublic information-related stock rebalancing can be five times higher in countries with the worst quality of governance than in countries with the best. The use of semipublic information increases price informativeness but also increases information asymmetry and reduces stock liquidity. It also intensified the price impact and liquidity crunch during the recent global financial crisis.

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Norming Rates And Limit Theory For Some Time-Varying Coefficient Autoregressions, Offer Lieberman, Peter C. B. Phillips Nov 2014

Norming Rates And Limit Theory For Some Time-Varying Coefficient Autoregressions, Offer Lieberman, Peter C. B. Phillips

Research Collection School Of Economics

A time-varying autoregression is considered with a similarity-based coefficient and possible drift. It is shown that the random-walk model has a natural interpretation as the leading term in a small-sigma expansion of a similarity model with an exponential similarity function as its AR coefficient. Consistency of the quasi-maximum likelihood estimator of the parameters in this model is established, the behaviours of the score and Hessian functions are analysed and test statistics are suggested. A complete list is provided of the normalization rates required for the consistency proof and for the score and Hessian function standardization. A large family of unit …

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Ceo Optimism And Incentive Compensation, Clemens A. Otto Nov 2014

Ceo Optimism And Incentive Compensation, Clemens A. Otto

Research Collection Lee Kong Chian School Of Business

I study the effect of chief executive officer (CEO) optimism on CEO compensation. Usingdata on compensation in US firms, I provide evidence that CEOs whose option exercisebehavior and earnings forecasts are indicative of optimistic beliefs receive smaller stockoption grants, fewer bonus payments, and less total compensation than their peers. Thesefindings add to our understanding of the interplay between managerial biases andremuneration and show how sophisticated principals can take advantage of optimisticagents by appropriately adjusting their compensation contracts.

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Optimal City Hierarchy: A Dynamic Programming Approach To Central Place Theory, Wen-Tai Hsu, Thomas J. Holmes, Frank Morgan Nov 2014

Optimal City Hierarchy: A Dynamic Programming Approach To Central Place Theory, Wen-Tai Hsu, Thomas J. Holmes, Frank Morgan

Research Collection School Of Economics

Central place theory is a key building block of economic geography and an empirically plausible description of city systems. This paper provides a rationale for central place theory via a dynamic programming formulation of the social planner's problem of city hierarchy. We show that there must be one and only one immediate smaller city between two neighboring larger-sized cities in any optimal solution. If the fixed cost of setting up a city is a power function, then the immediate smaller city will be located in the middle, confirming the locational pattern suggested by Christaller. We also show that the solution …

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Allocative Efficiency, Mark-Ups, And The Welfare Gains From Trade, Thomas J. Holmes, Wen-Tai Hsu, Sanghoon Lee Nov 2014

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 …

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Refining Workforce Education Supply And Demand Analysis: Final Report, Brad J. Hershbein, Kevin Hollenbeck Oct 2014

Refining Workforce Education Supply And Demand Analysis: Final Report, Brad J. Hershbein, Kevin Hollenbeck

Upjohn Institute Technical Reports

No abstract provided.

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Setting Up A Sam In Excel Using Vba, Amir Borges Ferreira Neto Oct 2014

Setting Up A Sam In Excel Using Vba, Amir Borges Ferreira Neto

Regional Research Institute Technical Documents

This technical document describes how to set up a full Social Accounting Matrix from its own partition in a spreadsheet file. This is done using VBA code.

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Using A Spreadsheet Sam For Gams Cge Modeling, Amir Borges Ferreira Neto Oct 2014

Using A Spreadsheet Sam For Gams Cge Modeling, Amir Borges Ferreira Neto

Regional Research Institute Technical Documents

This technical document provides in a single document a template to follow when using spreadsheet Social Accounting Matrix data to drive a GAMS-based Computable General Equilibrium model.

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Reassessing The Effects Of Unemployment Insurance Generosity On Search Intensity: New Evidence From Earnings Histories, Lewis Warren Oct 2014

Reassessing The Effects Of Unemployment Insurance Generosity On Search Intensity: New Evidence From Earnings Histories, Lewis Warren

University of Kentucky Center for Poverty Research Discussion Paper Series

This paper provides the first nationally representative estimates of how unemployment insurance (UI) generosity in the United States affects the search intensity of unemployed individuals using individual level variation in UI generosity. The paper expands the current literature through fully simulating monetary eligibility and entitlement to unemployment insurance at the individual level where past studies have been unable to examine monetary eligibility and have relied on state variations in the maximum weekly benefit amount which can differ significantly from an individual’s actual benefit amount. To simulate monetary eligibility and entitlement, work histories of unemployed respondents were obtained through fully matching …

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Should You Do A Doctorate? The Changing Returns To Postgraduate Qualifications, Sven Hoeling, Lewis Gudgeon, Felix Hagemeister Oct 2014

Should You Do A Doctorate? The Changing Returns To Postgraduate Qualifications, Sven Hoeling, Lewis Gudgeon, Felix Hagemeister

Undergraduate Economic Review

Higher education in the UK has experienced radical change over the last two decades. The change has been driven by a number of factors, not least New Labour’s policy to send 50% of school leavers to university. The increased supply of graduates has weakened a first degree’s ability to function as a signal to employers, resulting in many individuals pursuing postgraduate study to make themselves more competitive. This paper aims to show the changing returns to Bachelor, Master and Doctoral degrees for the period 1997 to 2013 and recognises the increasing importance of Ph.D. graduates in the upcoming years.

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Department Of Education Bumps Up Against Its Own Education Policies, Michael Hemesath Oct 2014

Department Of Education Bumps Up Against Its Own Education Policies, Michael Hemesath

Administration Publications

No abstract provided.

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Toward A Quantitative Theory Of Food Consumption Choices And Body Weight, Sebastien Buttet, Veronika Dolar Oct 2014

Toward A Quantitative Theory Of Food Consumption Choices And Body Weight, Sebastien Buttet, Veronika Dolar

Publications and Research

We propose a calibrated dynamic model of food consumption choices and body weight to study changes in daily caloric intake, weight, and the away-from-home share of calories consumed by adult men and women in the U.S. during the period between 1971 and 2006. Calibration reveals substantial preference heterogeneity between men and women. For example, utility losses stemming from weight gains are ten times greater for women compared to men. Counterfactual experiments show that changes in food prices and household income account for half of the increase in weight of adult men, but only a small fraction of women’s weight. We …

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Four More Charts Pointing To Some Deep Problems With The Labor Market For People Without A College Degree, Louis D. Johnston Oct 2014

Four More Charts Pointing To Some Deep Problems With The Labor Market For People Without A College Degree, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

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Power America's — And Nevada's — Advanced Industries: State By State, Region By Region, Mark Muro Oct 2014

Power America's — And Nevada's — Advanced Industries: State By State, Region By Region, Mark Muro

Brookings Scholar Lecture Series

With the U.S. economy still flat, economic experts and leaders continue to search for the next source of U.S. and regional growth. One key component of the next era of prosperity can be projected: It is what the Brookings Metropolitan Policy Program calls the advanced industry (AI) sector. The nation’s most strategic R&D — and STEM worker intensive industries, AIs like aerospace and IT are prime movers of regional and national prosperity, because they are key sources of technology innovation and generate domestic and international exports. Accordingly, the AI swatch of 50 discrete industries has emerged as an important new …

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Productivity, Self-Discipline And The Residential Experience, Michael Hemesath Oct 2014

Productivity, Self-Discipline And The Residential Experience, Michael Hemesath

Administration Publications

No abstract provided.

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Value And Cost-Effectivess Of Chw Programs: Implications For Home Care Workers, Glen P. Mays Oct 2014

Value And Cost-Effectivess Of Chw Programs: Implications For Home Care Workers, Glen P. Mays

Health Management and Policy Presentations

This presentation reviews studies on the health and economic value of strategies to improve the coordination of medical care, public health, and social support services for high-need and high-risk populations. Community health worker (CHW) programs feature prominently in these strategies, particularly for rural and low-resource community settings. Home care workers have the potential to function as CHWs in many settings, and as such present powerful opportunities for scaling up CHW programs that connect medical care, public health, and social services delivery.

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Disaggregating Input-Output Models, Xueting Zhao Oct 2014

Disaggregating Input-Output Models, Xueting Zhao

Regional Research Institute Technical Documents

This Technical Document describes the steps to disaggregate an industry sector in an I-O table using Python. A disaggregation method that based on weight factors is used in this document. The calculation has three parts. The first part is to calculate the disaggregated input matrix DIM, which represents all the input from common sectors into the new sectors. The second part is to calculate the disaggregated output matrix DOM, which represents all possible output weights of new sectors into common sectors. The last part is to calculate the intra matrix DINM, which represents the allocation of intra-industry sales in the …

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Estimation Of China Sectoral Emission Intensity: Based On Input-Output Model, Xueting Zhao Oct 2014

Estimation Of China Sectoral Emission Intensity: Based On Input-Output Model, Xueting Zhao

Regional Research Institute Resource Documents

No abstract provided.

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Four Charts Showing That The Labor Market Is Utterly Broken For Men Without A College Degree, Louis D. Johnston Oct 2014

Four Charts Showing That The Labor Market Is Utterly Broken For Men Without A College Degree, Louis D. Johnston

Economics Faculty Publications

No abstract provided.

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Cost Estimates Of Foundational Public Health Capabilities: Pilot Test Results Of An Expert Consensus Methodology In Kentucky, C. B. Mamaril, Glen P. Mays Oct 2014

Cost Estimates Of Foundational Public Health Capabilities: Pilot Test Results Of An Expert Consensus Methodology In Kentucky, C. B. Mamaril, Glen P. Mays

Health Management and Policy Presentations

The Institute of Medicine's 2012 report on U.S. public health financing recommended research to identify the components and costs of a "minimum package" of public health services and foundational capabilities to be made available in every U.S. community. We present results from pilot testing of a proposed methodology for estimating the costs and resource requirements for a set of foundational public health capabilities identified by the Public Health Leadership Forum. Using pilot data from Kentucky public health settings, we estimate both current and projected costs under a range of assumptions about the resources required to fully implement the capabilities at …

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Paying For Public Education: Students Versus Taxpayers, Michael Hemesath Oct 2014

Paying For Public Education: Students Versus Taxpayers, Michael Hemesath

Administration Publications

No abstract provided.

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Ending Failures, Showing Results, Improving Population Health: Insights From Research & Reform In The U.S., Glen P. Mays Oct 2014

Ending Failures, Showing Results, Improving Population Health: Insights From Research & Reform In The U.S., Glen P. Mays

Health Management and Policy Presentations

A growing body of empirical research supports the value of aligning the delivery systems for public health, medical care, and social services for populations with shared needs and risk factors. This presentation reviews selected studies from the field of public health services & systems research (PHSSR) in the U.S. that suggest pathways for achieving greater system alignment in the Canadian context.

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How Can Public Health Economics Help Health Systems Focus Upstream?, Glen P. Mays Oct 2014

How Can Public Health Economics Help Health Systems Focus Upstream?, Glen P. Mays

Health Management and Policy Presentations

Research on the health and economic impact of public health strategies can help newly evolving health care delivery systems focus on upstream health determinants and make evidence-informed decisions about resource allocation across the prevention-treatment spectrum. Examples from research underway in the U.S. have particular relevance for Canada's evolving regional health authorities and their integrated approaches to medical care and public health delivery.

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Tougher Than Rocket Science, Or Just Messier? Using Research To Improve U.S. Public Health Delivery, Glen P. Mays Oct 2014

Tougher Than Rocket Science, Or Just Messier? Using Research To Improve U.S. Public Health Delivery, Glen P. Mays

Health Management and Policy Presentations

Advances in the field of public health services & systems research (PHSSR) are incorporating complexity in theory and methods to derive strong inferences about the health and economic effects attributable to public health strategies. Opportunities for comparative international research in Canada and the U.S. promise to strengthen these avenues of inquiry.

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Consistent Level Aggregation And Growth Decomposition Of Real Gdp, Jesus C. Dumagan Oct 2014

Consistent Level Aggregation And Growth Decomposition Of Real Gdp, Jesus C. Dumagan

Angelo King Institute for Economic and Business Studies (AKI)

This paper formulates a general framework for consistent level aggregation and growth decomposition of real GDP. However, the focus is on US GDP in chained prices based on the Fisher index since this GDP motivated this paper’s purposes. These are to explain why problematic residuals‒in contributions to US GDP level and growth “not allocated by industry”‒ show up in the existing framework by the Bureau of Economic Analysis and, therefore, to propose an alternative framework for consistent level aggregation and growth decomposition where residuals cannot arise. This paper’s residual-free framework applies to real GDP regardless of the underlying indexes, i.e., …

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Public Health Services Research: Informing Public Health Practice & Policy, Glen P. Mays Oct 2014

Public Health Services Research: Informing Public Health Practice & Policy, Glen P. Mays

Health Management and Policy Presentations

Heterogeneity in the mechanisms used for organizing and financing public health strategies creates opportunities for comparative effectiveness research (CER) in public health that examine which organization and financing mechanisms work best, for whom, and under what circumstances. Findings from these types of studies have direct utility in shaping public health policy and practice decisions.

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Laboratories And The Value Stream Of Next-Generation Public Health, Glen P. Mays Oct 2014

Laboratories And The Value Stream Of Next-Generation Public Health, Glen P. Mays

Health Management and Policy Presentations

Public health laboratories are the information engines for public health agencies and delivery systems. Measuring the value stream that flows from this information can support objective assessments of the health and economic benefits attributable to laboratory infrastructure and information.

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Governmental Public Health And The Economics Of Adaptation To Population Health, Glen P. Mays Oct 2014

Governmental Public Health And The Economics Of Adaptation To Population Health, Glen P. Mays

Health Management and Policy Presentations

Research on the organization and financing of public health strategies offers valuable insight for governmental public health agencies seeking to adapt to a population health improvement perspective under health system reform.

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Analisa Kesenjangan Prevalensi Stunting Antar Kawasan Di Indonesia Serta Faktor Yang Mempengaruhinya, Melyana Lumbantoru, Hera Susanti Oct 2014

Analisa Kesenjangan Prevalensi Stunting Antar Kawasan Di Indonesia Serta Faktor Yang Mempengaruhinya, Melyana Lumbantoru, Hera Susanti

Jurnal Kebijakan Ekonomi

Stunting is an indicator for chronic nutritional status that can provide a picture of overall socio-economic disruption in the past, starting from six months old infant and continue until the age of 18 years and can not be corrected again. The study concluded that infant growth monitoring, access to sanitation, health budget allocation per capita, income per capita and female literacy rate are significantiy reducing the occurrence of stunting. While the Theil index shows that the number of stunting is increasingly dispersed throughout Indonesia. At the regional level, the total disparity for stunting tends to decrease. In 2007, 2010 and …

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