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2014

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Articles 361 - 390 of 1582

Full-Text Articles in Economics

Is Poverty A Cause Or A Result Of Poor Labor Market Performance In Turkey?, Ayse Aylin Bayar, Serkhan Degirmenci Sep 2014

Is Poverty A Cause Or A Result Of Poor Labor Market Performance In Turkey?, Ayse Aylin Bayar, Serkhan Degirmenci

Topics in Middle Eastern and North African Economies

The Turkish economy has shown great economic growth performance from 2000 onwards. Many main macroeconomic indicators show remarkable improvement, including poverty and income inequality. Although poverty has declined; it still has one of the highest ratios compared to other developing countries. In this respect, fighting against poverty and sustaining poverty alleviation are still very substantial issues for Turkey. Similarly, the labor force participation rate of females in the urban labor market has an increasing trend over this period. And, again the female labor force participation rate is one of the lowest ratios among OECD countries. With these examples in mind, …


Simulating The Turkish Tax System, Adem Ileri, Pinar Derin-Güre Sep 2014

Simulating The Turkish Tax System, Adem Ileri, Pinar Derin-Güre

Topics in Middle Eastern and North African Economies

Tax systems are used for economic and social concerns such as promoting the economic growth or decreasing the income inequality and tax evasion, increasing the social welfare, etc. Researchers argue that the consumption taxes are quite high in Turkey compared to other OECD countries. Since, the proposed tax reform in this study decreases the VAT rate to 15 percent and increases the top statutory income tax rate to 40 percent. This paper constructs and present first set of a 55-period overlapping generations (OLG) model for Turkey to analyze and evaluate the impact of tax reform on macroeconomic variables and welfare. …


The Impact Of Institutional Quality In Attracting Foreign Direct Investment In Algeria, Bounoua Chaib, Matallah Siham Sep 2014

The Impact Of Institutional Quality In Attracting Foreign Direct Investment In Algeria, Bounoua Chaib, Matallah Siham

Topics in Middle Eastern and North African Economies

This study examines the impact of institutional quality in attracting FDI in Algeria over the period 1995-2011 using the Heritage Foundation’s economic freedom index which reflects economic institutional quality (EIQ) and two governance indicators, namely: government effectiveness (GE) and voice and accountability (VA) that represent political institutional quality. The Johansen cointegration test has been employed in order to investigate the existence of long-run relationships among the tested variables. Additionally, the vector error correction model (VECM) has been applied to analyze the long-run and short-run dynamic relationships among the various time series, besides using both impulse response functions and variance decomposition. …


An Analysis Of North Africa's Capacity To Achieve Renewable Energy Development, Wai Mun Hong Sep 2014

An Analysis Of North Africa's Capacity To Achieve Renewable Energy Development, Wai Mun Hong

Topics in Middle Eastern and North African Economies

Although blessed with abundant solar and wind energies, North Africa has yet to maximise its socioeconomic gain from tapping these resources. In view of North African demographic and middle class expansion, energy demand is set to increase. Tapping renewable energy sources will not only address these problems, but also will be an impetus to the faltering socioeconomic dynamic the region needs to boost sustainable development to benefit from globalisation. However, with bureaucratic-laden institutions and corruptions hindering the private sector from flourishing, governments are compelled to mobilise public finances to cover the lack of private investments in renewable energy projects. Increasing …


Testing Conditional Independence Via Empirical Likelihood, Liangjun Su, Halbert White Sep 2014

Testing Conditional Independence Via Empirical Likelihood, Liangjun Su, Halbert White

Research Collection School Of Economics

We construct two classes of smoothed empirical likelihood ratio tests for the conditional independence hypothesis by writing the null hypothesis as an infinite collection of conditional moment restrictions indexed by a nuisance parameter. One class is based on the CDF; another is based on smoother functions. We show that the test statistics are asymptotically normal under the null hypothesis and a sequence of Pitman local alternatives. We also show that the tests possess an asymptotic optimality property in terms of average power. Simulations suggest that the tests are well behaved in finite samples. Applications to some economic and financial time …


Intraday Periodicity Adjustments Of Transaction Duration And Their Effects On High-Frequency Volatility Estimation, Yiu Kuen Tse, Yingjie Dong Sep 2014

Intraday Periodicity Adjustments Of Transaction Duration And Their Effects On High-Frequency Volatility Estimation, Yiu Kuen Tse, Yingjie Dong

Research Collection School Of Economics

We study two methods of adjusting for intraday periodicity of high-frequency financial data: the well-known Duration Adjustment (DA) method and the recently proposed Time Transformation (TT) method (Wu (2012)). We examine the effects of these adjustments on the estimation of intraday volatility using the Autoregressive Conditional Duration-Integrated Conditional Variance (ACD-ICV) method of Tse and Yang (2012). We find that daily volatility estimates are not sensitive to intraday periodicity adjustment. However, intraday volatility is found to have a weaker U-shaped volatility smile and a biased trough if intraday periodicity adjustment is not applied. In addition, adjustment taking account of trades with …


Modified Qml Estimation Of Spatial Autoregressive Models With Unknown Heteroskedasticity And Nonnormality, Shew Fan Liu, Zhenlin Yang Sep 2014

Modified Qml Estimation Of Spatial Autoregressive Models With Unknown Heteroskedasticity And Nonnormality, Shew Fan Liu, Zhenlin Yang

Research Collection School Of Economics

In the presence of heteroskedasticity, Lin and Lee (2010) show that the quasi maximum likelihood (QML) estimators of spatial autoregressive models (SAR) can be inconsistent as a ‘necessary’ condition for consistency can be violated, and thus propose robust GMM estimators for the model. In this paper, we first show that this condition may hold in many practical situations and when it does the regular QML estimators can be consistent.In cases where this condition is violated, we propose a modified QML estimation method robust against heteroskedasticity of unknown form. In both cases, asymptotic distributions of the estimators are derived, and methods …


Initial-Condition Free Estimation Of Fixed Effects Dynamic Panel Data Models, Zhenlin Yang Sep 2014

Initial-Condition Free Estimation Of Fixed Effects Dynamic Panel Data Models, Zhenlin Yang

Research Collection School Of Economics

It is well known that (quasi) MLE of dynamic panel data (DPD) models with short panels depends on the assumptions on the initial values; ignoring them or a wrong treatment of them will result in inconsistency or serious bias. This paper introduces a initial-condition free method for estimating the fixed-effects DPD models, through as simple modification of the quasi-score. An outer-product-of-gradients (OPG) method is also proposed for robust inference. The MLE of Hsiao, Pesaran and Tahmiscioglu (2002, Journal of Econometrics), where the initial observations are modeled, is extended to quasi MLE and an OPG method is proposed for robust inference. …


Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou Sep 2014

Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou

Research Collection School Of Economics

This paper studies whether changes in the exchange rate affect a country’s export structure, using an arguably exogenous sudden appreciation of renminbi on July 21, 2005 as the main source of identification. Employing combined regression discontinuity and difference-in-differences approach, we show that China’s export structure became more similar to that of the developed countries after the currency appreciation. We also find that the majority of the appreciation effect comes from the inter-firm resource reallocation rather than the inter-region or intra-firm resource reallocation.


A Characterization Of Single-Peaked Preferences Via Random Social Choice Functions, Shurojit Chatterji, Arunava Sen, Huaxia Zeng Sep 2014

A Characterization Of Single-Peaked Preferences Via Random Social Choice Functions, Shurojit Chatterji, Arunava Sen, Huaxia Zeng

Research Collection School Of Economics

The paper proves the following result: every path-connected domain of preferences that admits a strategy-proof, unanimous, tops-only random social choice function satisfying a compromise property, is single-peaked. Conversely, every single-peaked domain admits a random social choice function satisfying these properties. Single-peakedness is defined with respect to arbitrary trees. We also show that a maximal domain that admits a strategy-proof, unanimous, tops-only random social choice function satisfying a stronger version of the compromise property, is single-peaked on a line. A converse to this result also holds. The paper provides justification of the salience of single-peaked preferences and evidence in favour of …


Asymptotic Distribution And Finite-Sample Bias Correction Of Qml Estimators For Spatial Dependence Model, Shew Fan Liu, Zhenlin Yang Sep 2014

Asymptotic Distribution And Finite-Sample Bias Correction Of Qml Estimators For Spatial Dependence Model, Shew Fan Liu, Zhenlin Yang

Research Collection School Of Economics

In studying the asymptotic and finite-sample properties of quasi-maximum likelihood (QML) estimators for the spatial linear regression models, much attention has been paid to the spatial lag dependence (SLD) model; little has been given to its companion, the spatial error dependence (SED) model. In particular, the effect of spatial dependence on the convergence rate of the QML estimators has not been formally studied, and methods for correcting finite-sample bias of the QML estimators have not been given. This paper fills in these gaps. Of the two, bias correction is particularly important to the application of this model. Contrary to the …


Borrower Targeting Under Microfinance: Competition With Motivated Microfinance Institutions And Strategic Complementarity, Brishti Guha, Prabal Roy Chowdhury Sep 2014

Borrower Targeting Under Microfinance: Competition With Motivated Microfinance Institutions And Strategic Complementarity, Brishti Guha, Prabal Roy Chowdhury

Research Collection School Of Economics

We examine how increased competition among motivated microfinance institutions (MFIs) impacts the poorest borrowers’ access to microfinance. We find that competition depends on inequality, technology, and the possibility of double-dipping (borrowing from several sources). Without competition, even a motivated MFI may lend to the not-so-poor in preference to poor borrowers. If double-dipping is feasible, competition may encourage lending to the poor. The presence of double-dipping is critical for MFI competition to have a positive effect. When double-dipping is feasible, MFI coordination may worsen borrower targeting whenever inequality is intermediate. We discuss policy implications dealing with double-dipping, MFI coordination, and competition.


Exploring Determinants And Effects Of Foreign Direct Investment: The Case Of Sub-Saharan Africa, Joan O. W. Kiiru Aug 2014

Exploring Determinants And Effects Of Foreign Direct Investment: The Case Of Sub-Saharan Africa, Joan O. W. Kiiru

Graduate Masters Theses

Foreign Direct Investment (FDI) is among the most dynamic international resource flows to developing countries. FDI's is usually a mix of investments in both tangible and intangible assets and firms that deploy such assets are often important players in the global economy. Many argue that FDI can be expected to facilitate the transfer of new technology, help improve workers' skills and welfare in recipient countries. Others argue that FDI is focused primarily on resource extraction and may have little broad contribution to recipient economy. But what are the determinants of FDI? What is the role of resource prices, macroeconomic and …


Capital In The Twenty-First Century: A Review Essay, Alexander J. Field Aug 2014

Capital In The Twenty-First Century: A Review Essay, Alexander J. Field

Economics

In the title of his 1968 review of early research in Cliometrics, Lance Davis opined that “it will never be literature.” One of Thomas Piketty's many achievements in Capital in the Twenty-First Century is to prove Davis wrong. Piketty's book is both an exemplary work in quantitative economic history and economic literature in the finest sense, written with the Cartesian clarity we associate with the French scientific tradition. It is, moreover, quite remarkably, also about literature, about the novels of Jane Austen, Henry James, and Honoré de Balzac, and the nineteenth-century wealth dynamics they brought to life. From the vantage …


Childhood Stress: A Qualitative Analysis Of The Intergenerational Circumstances Of Child Hunger, Mariana Chilton, Molly Knowles Aug 2014

Childhood Stress: A Qualitative Analysis Of The Intergenerational Circumstances Of Child Hunger, Mariana Chilton, Molly Knowles

University of Kentucky Center for Poverty Research Discussion Paper Series

Adverse Childhood Experiences (ACEs), including abuse, neglect, and household instability, affect lifelong health and economic potential. While relationships between household food insecurity and caregiver’s childhood exposure to abuse and neglect are underexplored, preliminary evidence indicates that caregivers reporting very low food security report traumatic events in their childhoods that lead to poor physical and mental health. Building on this evidence, this study investigates how adverse childhood experiences are associated with the intergenerational transmission of household food insecurity.


The Effect Of Single Women And The Early Modern Economy, Bridget Heussler Aug 2014

The Effect Of Single Women And The Early Modern Economy, Bridget Heussler

Journal of Undergraduate Research at Minnesota State University, Mankato

Historians have shown that women are generally more accepted as workers within thriving economic environments. This is particularly true of eighteenth-century Europe, a time of economic transition, expansion and social flux. Historians have indicated a rise of never-married women in eighteenth-century towns and cities, but our knowledge of women's specific roles and contributions during this time of economic expansion remains slim. My research examined and compared tax records from the parish of St. Philibert in Dijon, France between 1730 and 1750. An examination of the tax records allows historians one indication of the overall economic contribution of individual householders within …


Steel Dumping Decision Might Be Good Politics In Minnesota, But It's Bad Economics, Louis D. Johnston Aug 2014

Steel Dumping Decision Might Be Good Politics In Minnesota, But It's Bad Economics, Louis D. Johnston

Economics Faculty Publications

No abstract provided.


Distributional Effects Of Welfare Reform Experiments: A Panel Quantile Regression Examination, Carlos Lamarche, Robert Paul Hartley Aug 2014

Distributional Effects Of Welfare Reform Experiments: A Panel Quantile Regression Examination, Carlos Lamarche, Robert Paul Hartley

University of Kentucky Center for Poverty Research Discussion Paper Series

In an influential article, Bitler, Gelbach and Hoynes (American Economic Re- view, 2006; 96, 988-1012) illustrate the importance of estimating heterogeneous impacts of welfare reform experiments. They find that the mean treatment effect offers an uninfor- mative summary of opposing effects, while the treatment effects are significantly different across quantiles. We replicate their results and evaluate the robustness of their findings to accounting for individual-specific heterogeneity possibly associated with welfare program participation. We find results that are in general similar to Bitler’s et al. findings, although the interpretation of labor supply effects in the upper tail is revised. We find …


The Adjunct Dilemma, Michael Hemesath Aug 2014

The Adjunct Dilemma, Michael Hemesath

Administration Publications

No abstract provided.


Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant Aug 2014

Perspectives On The Global Financial Crisis From Emerging Managers And Public Policy Makers [Full Version], James L. Grant

Financial Services Forum Publications

This manuscript attempts to capture the perspectives of emerging managers and public policy makers as evinced in the perspectives of graduate students and others who were enrolled in my newly developed course on the global financial crisis—first offered in the 2010 Harvard Summer Economics Program—at a time when students were engaged in the midst and aftermath of the most severe U.S. and worldwide recession since the Great Depression of the early 1930s. The many perspectives gathered on the causes, consequences, remedies, and perhaps more importantly, a glimpse at student thoughts, concerns, and worries at the time—have been collected from the …


Analysis And Evaluation On Cost And Benefit Of Vts, Weiwei Xie Aug 2014

Analysis And Evaluation On Cost And Benefit Of Vts, Weiwei Xie

Maritime Safety & Environment Management Dissertations (Dalian)

No abstract provided.


A Study On The Upsizing Trend Of Containerships In International Shipping Industry, Mu Xie Aug 2014

A Study On The Upsizing Trend Of Containerships In International Shipping Industry, Mu Xie

Maritime Safety & Environment Management Dissertations (Dalian)

No abstract provided.


Study On The Positive Measures To Eliminate Substandard Ships In China, Jianling Ma Aug 2014

Study On The Positive Measures To Eliminate Substandard Ships In China, Jianling Ma

Maritime Safety & Environment Management Dissertations (Dalian)

No abstract provided.


The Government Releasing 'Prototype Statistics Of Gdp By State' Is Thrilling News. Really., Louis D. Johnston Aug 2014

The Government Releasing 'Prototype Statistics Of Gdp By State' Is Thrilling News. Really., Louis D. Johnston

Economics Faculty Publications

No abstract provided.


Newbuilding Ship Price Analysis For Bulk Carrier And Its Short-Term Forecast, Hongyang Liu Aug 2014

Newbuilding Ship Price Analysis For Bulk Carrier And Its Short-Term Forecast, Hongyang Liu

World Maritime University Dissertations

No abstract provided.


Analysis Of Influencing Factors Of Coastal Port Cargo Throughput In China From Economic Aspect, Hongyi Zhang Aug 2014

Analysis Of Influencing Factors Of Coastal Port Cargo Throughput In China From Economic Aspect, Hongyi Zhang

World Maritime University Dissertations

No abstract provided.


The Sino-Hellenic Relations In The Shipping Industry With Focus On The Shipbuilding Cooperation, Irini Theano Zisimopoulos Aug 2014

The Sino-Hellenic Relations In The Shipping Industry With Focus On The Shipbuilding Cooperation, Irini Theano Zisimopoulos

World Maritime University Dissertations

No abstract provided.


Research On Development Strategy Of Rizhao Port Industrial Cluster, Ying Bian Aug 2014

Research On Development Strategy Of Rizhao Port Industrial Cluster, Ying Bian

World Maritime University Dissertations

No abstract provided.


The Trend Analysis And Short-Term Forecasting Of Ccbfi, Lulu Cao Aug 2014

The Trend Analysis And Short-Term Forecasting Of Ccbfi, Lulu Cao

World Maritime University Dissertations

No abstract provided.


Study On The Newbuilding Price Mechanism Of Capesize Bulkcarrier Based On The Econometric Theory, Yue Lei Aug 2014

Study On The Newbuilding Price Mechanism Of Capesize Bulkcarrier Based On The Econometric Theory, Yue Lei

World Maritime University Dissertations

No abstract provided.