Economics Commons^™

Global Capitalism And The Energy Crisis: Challenges And Opportunities Associated With A Transition To Renewables, Hillary Fronk

Electronic Theses and Dissertations

Since the Industrial Revolution, fossil fuels have provided a cheap and efficient source of energy. Reliance on fossil fuels, especially oil, supported economic growth under capitalism but also has led to climate change. As peak oil approaches, a transition towards renewable sources of energy is mandatory for ensuring future prospects of development and for reducing the effects of climate change. The transition to renewable energy sources could be made smoother if the subsidies provided to the fossil fuel industry were phased out and governments provided incentives for initial investment, financing for research and development, and direct investment. With reference to …

Future Work: Denver Metropolitan Area Jobs In A Globalizing Economy, Sharon Gabel

Electronic Theses and Dissertations

In the past twenty years, globalization has had both observable and intangible impacts on business and labor markets at the local level, that are of critical importance to communities and the people who inhabit them. While impacts of global economic change on local labor markets have been anticipated, there is little insight in the research literature into the empirical dynamics of the interrelationship between global economic change and local labor markets. This study examined the impacts of globalization on local labor markets through three lenses: (1) quantitative analysis of employment change in the Denver Metropolitan Region local labor market, (2) …

Modification Of Hansen-Hurwitz’S Estimators For Negatively Correlated Variates, Jonathan A. Ikughur

CBN Journal of Applied Statistics (JAS)

Most estimators in probability proportional to size (PPS) with replacement (WR) sampling design are defined for positively correlated variables. The literature on estimators involving negatively correlated variates is underdeveloped. This study utilized the law of inverse proportion to derive selection probabilities to modify the Hansen-Hurwitz’s estimator for use when negatively correlated variables are encountered in surveys. The suggested estimator is unbiased and could perform better than other estimators when information conveyed by correlation coefficient is used.

Structural Breaks, Cointegration And Demand For Money In Nigeria, Sani I. Doguwa, Olorunsola E. Olowofeso, Stephen O. U. Uyaebo, Ibrahim Adamu, Abiodun S. Bada

CBN Journal of Applied Statistics (JAS)

This paper estimates the money demand function in Nigeria in the aftermath of the recent global financial crisis and examines whether its underlying properties has changed over the years. Specifically, the existence of a stable long-run demand for money function during the period 1991:Q1-2013:Q4, while accounting for the possibility of structural breaks is investigated. The Gregory-Hansen residual based test for cointegration detected both intercept and regime shifts in 2007:Q1 as the null of no cointegration is rejected at 1 per cent significance level, indicating that long run relationship exists between real money supply, real income, real monetary policy rate, exchange …

The Relationships Of Inflationary Trend, Agricultural Productivity And Economic Growth In Nigeria, Oyakhilomen Oyinbo, Grace Z. Rekwot

CBN Journal of Applied Statistics (JAS)

This study investigates the links existing between inflationary trend, agricultural productivity and economic growth in Nigeria using time series data spanning from 1970 to 2011. The results of the analyses indicate a unidirectional causality from inflationary trend to agricultural productivity, unidirectional causality from agricultural productivity to economic growth with no causality between inflationary trend and economic growth. Based on these findings, it is recommended that the Central Bank of Nigeria should pay more attention to the trend of inflation and pursue policies that will ensure single digit inflation.

Developing Banking System Stability Index For Nigeria, Angela Sere-Ejembi, Ini S. Udom, Audu Salihu, Ngozi V. Atoi, Baba N. Yaaba

CBN Journal of Applied Statistics (JAS)

This study constructed a banking system stability index (BSSI) for Nigeria, using a combination of financial soundness indicators and macro-fundamentals. It applied statistical and Conference Board Methodology normalisation processes on Nigeria’s banking and macroeconomic data from 2007Q1 to 2012Q2. The resultant index traced fairly well the episodes of crisis in the system over the study period. Hence, the BSSI is capable of acting as an early warning mechanism of signaling fragility. It could, therefore, be used as a complimentary regulatory policy tool to detect potential threat to enable monetary authorities take timely pre-emptive policy measures to avert crisis.

Modeling And Forecasting Currency In Circulation For Liquidity Management In Nigeria, Alvan Ikoku

CBN Journal of Applied Statistics (JAS)

This paper presents forecasts of currency in circulation prepared for liquidity management at the Central Bank of Nigeria. Forecasts were produced using ARIMA, ARIMA with structural variables, VAR and VEC models. The performance of the forecasts was then evaluated under a rolling forecast scenario, where the estimation sample is augmented by one observation and the forecast sample is brought forward. The evaluation of the forecasts was based on average performance over a number of rolling forecasts. We found that the most accurate models were mixed models with structural as well as ARIMA components, augmented by seasonal and dummy variables. We …

Measuring Respondent Burden In Nigeria: A Case Study Of Central Bank Of Nigeria Enterprise Surveys, Ibrahim Adamu, Ismaila S. Sabi, Sani Bawa

CBN Journal of Applied Statistics (JAS)

This paper uses diffusion indices, percentages and reported time spent to measure the respondent burden in survey of foreign assets and liabilities (SOFAL) and business expectations survey (BES). The results show that respondents found it easy but time consuming to complete the SOFAL questionnaire with an average of 24 hours spent in collecting information and over 2 hours to fill the questionnaire. In contrast, respondents found it much easier and quicker to complete the BES questionnaire, spending an average of 47 minutes to collect relevant information from their records and another 36 minutes to complete the questionnaire. The paper identified …

Foreign Trade-Economic Growth Nexus: Evidence From Nigeria, Nosakhare L. Arodoye, Milton A. Iyoha

CBN Journal of Applied Statistics (JAS)

This study examines the nexus between foreign trade and economic growth in Nigeria using quarterly time-series data for 1981Q1 through 2010Q4. In order to fully account for feedbacks, a vector autoregressive model is utilized. The results show that there is a stable, long- run relationship between foreign trade and economic growth. The variance decomposition results show that the predominant sources of Nigeria economic growth variation are due largely to “own shocks” and foreign trade innovations. The study therefore recommends adoption of trade expansion policies as a means of accelerating economic growth in Nigeria.

Destination Sectors And Originating Economies Of Nigeria’S Private Foreign Assets And Liabilities In 2012, Sani I. Doguwa, Mohammed M, Tumala, Isaiah Olufemi Ajibola

CBN Journal of Applied Statistics (JAS)

The 2013 survey of foreign assets and liabilities of enterprises in Nigeria was conducted to determine destination sectors of foreign private capital flows and economies where such investments originate. The survey covered 649 large establishments in Nigeria with 87.4 per cent response rate. The cross border transactions/investments of the respondents during 2011 and 2012 indicate total foreign claims on the Nigerian economy as at end 2012 rising to N16, 790.78 billion from N13, 647.19 billion recorded in 2011. Of this total, 98.1per cent came in the form of direct investments, while portfolio investments and other capital flows accounted for 1.1 …

Changing Times, Changing Values: A Historical Analysis Of Sectors Within The Us Stock Market 1872-2013, Oliver D. Bunn, Robert J. Shiller

Cowles Foundation Discussion Papers

We construct a price, dividend, and earnings series for the Industrials sector, the Utilities sector, and the Railroads sector from the beginning of the 1870s until the beginning of the year 2013 from primary sources. To infer about mispricings in the sector markets over more than a century, we investigate the forecasting power of the Cyclically Adjusted Price-Earnings (CAPE) ratio1 for these sectors. With regard to the CAPE ratio, which has originally been devised and employed by Campbell and Shiller (1988, 1998, 2001) as well as Shiller (2005), we define a methodological improvement to this ratio to not only be …

Effect Of Monetary Policy On Agricultural Sector In Nigeria, Elias A. Udeaja, Udoh A. Elijah

Economic and Financial Review

The study examinee the effect of monetary policy on agricultural sector in Nigeria, utilizing time series data for the periods spanning from 1970 to 2010. The study captures both monetary and non-monetary policy variables such as lending rate, commercial banks credit to agriculture, exchange rate, government expenditure in agriculture and inflation rate in examining the effect of monetary policy on agricultural output. The methodology adopted is the Auto- Regressive Distributed Lag (ARDL) Bound Testing Approach. The results obtained shows that exchange rate and government expenditure had positive and significant effect on agricultural output and, hence agricultural sector in Nigeria. It …

An Autoregressive Distributed Lag (Ardl) Approach To The Oil Consumption And Growth Nexus: Nigerian Evidence, N. Inuwa, H. M. Usman

Economic and Financial Review

This study attempts to examine the relationship between oil consumption, carbon emission and economic growth in Nigeria covering the period 1980-2011. The study applied Dickey-Fuller Generalised Least Square (DF-GLS) unit root test and autoregressive distributed lag (ARDL) bound test approach to co-integration. The bond test results reveals a long-run equilibrium relationship among oil consumption, carbon emission and economic growth. The result also showed a positive and statistically significant impact of oil consumption on economic growth. The coefficient of error correction term in the ARDL model was statistically significant, indicating that the adjustment process by which long-run equilibrium is restored after …

A Test Of The Fisher Effect In Nigeria, M. K. Tule, U. M. Okpanachi, E. T. Adamgbe, S. E. Smith

Economic and Financial Review

This paper uses the state space model to investigate the dynamic relationship between real interest rate and inflation in Nigeria. The paper reveals varying degrees of effect across interest rate and time horizons.

Goal Setting And Energy Conservation, Matthew Harding, Alice Hsiaw

Economics Department Working Papers

This paper develops a theoretical model of consumer demand for an energy conservation program that involves non-binding, self-set goals. We present evidence from a Northern Illinois goal-setting program, aimed at reducing residential electricity consumption, that is difficult to reconcile with standard preferences and is broadly consistent with a model of presentbiased consumers with reference-dependent preferences. We find that the need for commitment is correlated with program adoption, higher pre-adoption consumption, and lower responsiveness to goals. Consumers choosing realistic goals persistently save substantially more, achieving savings of nearly 11%, than those choosing very low or unrealistically high goals.

Gender Dimensions Of The U.S. Consumer Borrowing Expansion, Barbara E. Hopkins, Zdravka Todorova

Economics Faculty Publications

The article calls attention to gender as a dimension of the expansion of U. S. consumer borrowing. The first section emphasizes that gender is not a dummy variable, but an evolution of habits of thought. The second section discusses how changing gender relations are connected to gendered product differentiation and market expansion. The final section connects gendered market expansion and changing gender habits of thought to the expansion of consumer borrowing. We argue that, in addition to the acknowledged role of credit, gender relations also mask the structural financial fragility of households.

The Effects Of Demographics On The Real Estate Market In The United States And China, Henry Li

Honors College Theses

This paper focuses on the demographic and economic factors that affect the changes in prices of the housing market. The study focuses on the United States housing market after its recent collapse due to the US financial crisis of 2008. It also looks at the Chinese housing market based on the determinants that are observed in the United States. It will also examine the after effects of the One Child Policy enacted in 1979 on the housing prices. The study will look at the current situation with the Chinese housing market and its similarities to the United States housing market …

The Graduation Rate Tragedy In New York State, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

The Effects Of The Clock And Kickoff Rule Changes On Actual And Market-Based Expected Scoring In Ncaa Football, Kenneth Linna, Evan Moore, Rodney Paul, Andrew Weinbach

Finance and Economics

Clock rule changes were introduced in the 2006 season with the goal of reducing the average duration of the game; these changes were reversed in 2007. In addition, in 2007 the kickoff rule was changed to create more excitement and potentially more scoring. We examine what happened to actual and expected scoring during these National Collegiate Athletic Association (NCAA) football seasons. The clock rule change in 2006 led to lower scoring which was not fully encompassed in the betting market, leading to significant returns to betting the under. Multiple rule changes in 2007 led to volatility in the betting market …

Market Efficiency And Behavioral Biases In The Wnba Betting Market, Rodney J. Paul, Andrew P. Weinbach

Finance and Economics

The betting market for the Women’s National Basketball Association (WNBA) is a thin financial market, which does not attract much interest from sports bettors. Given these characteristics, it is possible that profitable wagering strategies could exist for informed bettors of the WNBA. Using betting data on the WNBA from 2007–2012, we find that simple betting strategies do not earn statistically significant returns. WNBA bettors are like NBA bettors; however, in that they strongly prefer the best teams, particularly when they are on the road. Despite this clear bias, betting against the most popular public wagers is not found to earn …

Overcoming Postcommunist Labour Weakness: Attritional And Enabling Effects Of Mncs In Central And Eastern Europe, Aleksandra Sznajder Lee, Vera Trappmann

Political Science Faculty Publications

Based on micro-level analysis of the developments in the steel sector in Poland, Romania and Slovakia, this paper examines the effects of multinational corporations (MNCs) on labour unions in Central and Eastern Europe. It makes a three-fold argument. First, it shows that union weakness can be attributed to unions’ strategies during the restructuring and privatization processes of postcommunist transition. Consequently, tactics used for union regeneration in the West are less applicable to CEE. Rather, the overcoming of postcommunist legacy is linked to the power of transnational capital. Through attritional and enabling effects, ownership by MNCs forces the unions to focus …

Incentive Compensation For Ministers?, Kevin F. Hallock

Economics Faculty Publications

Paying leaders of for-profit organizations is difficult. And this is even the case when there is some agreement regarding the objectives of the organizations (e.g., returns to shareholders in publicly held companies). But as they step away from the most obvious objective of maximizing shareholder return or profit, things can get more complicated. Three authors shed considerable light on this by using a rich data set of more than 2,000 Methodist ministers over 43 years. To be sure, the data are from one specific religious group in one region of the US, but the data are absolutely extraordinary. In "Is …

Water In The 21st Century, Grayson Michael Shor

Social Sciences

The aim of this research project is to provide a comprehensive and global analysis of water use in order to provide the reader with a comprehensive grasp of current and impending issues. The included five (5) chapters discuss water distribution, conservation, purification, law, international development, economic debates, ethical consideration, as well as educated estimations of the effects water related issues may cause in the next one-hundred years.

Do Weather Fluctuations Cause People To Seek Information About Climate Change?, Corey Lang

Environmental and Natural Resource Economics Faculty Publications

Learning about the causes and consequences of climate change can be an important avenue for supporting mitigation policy and efficient adaptation. This paper uses internet search activity data, a distinctly revealed preference approach, to examine if local weather fluctuations cause people to seek information about climate change. The results suggest that weather fluctuations do have an effect on climate change related search behavior, however not always in ways that are consistent with the projected impacts of climate change. While search activity increases with extreme heat in summer and extended periods of no rainfall and declines in extreme cold in winter, …

Why Do Hedgers Trade So Much?, Ing-Haw Cheng, Wei Xiong

Dartmouth Scholarship

Futures positions of commercial hedgers in wheat, corn, soybeans and cotton fluctuate much more than expected output. Hedgers' short positions are positively correlated with price changes. Together, these observations raise doubt about the common practice of categorically classifying trading by hedgers as hedging while trading by speculators as speculation, as hedgers frequently change their futures positions over time for reasons unrelated to output fluctuations, arguably a form of speculation.

Three Essays On Nonstationary Time Series Analysis, Ye Chen

Dissertations and Theses Collection (Open Access)

Financial and macroeconomic time series data are often nonstationary. My dissertation consists of three essays concerning time series models with nonstationarity. Chapter 1 develops a new jackknife estimator for nonstationary autoregressive model. The remaining two chapters explore the restricted maximum likelihood (REML hereafter) estimation and the restricted maximum likelihood based likelihood ratio test (RLRT hereafter) in predictive regression. Chapter 1 proposes an improved jackknife estimator of the persistence parameter that works for both the discrete time unit root model and the continuous time unit root model. Maximum likelihood estimation of the persistence parameter in the discrete time unit root model …

Patient Perceptions Of Patient-Empowering Nurse Behaviours, Patient Activation And Functional Health Status In Postsurgical Patients With Life-Threatening Long-Term Illnesses, Teresa Jerofke-Owen, Marianne E. Weiss, Olga Yakusheva

College of Nursing Faculty Research and Publications

Aim

To explore the trajectory of associations between the nursing care process of patient empowerment during postsurgical hospitalization and postdischarge patient self-management outcomes, specifically patient activation and functional health status.

Background

Patient-centred care models advocate for patient empowerment in long-term illness care. Postsurgical patients with life-threatening long-term illnesses frequently feel powerless, have unmet needs, decreased functional health status and high readmission rates; however, previous studies of patient empowerment have conceptualized empowerment as an outcome primarily in outpatient settings, with little attention paid to provider processes used to empower patients during hospitalizations.

Design

A non-experimental, prospective, correlational study.

Methods

This sample …

Mountain Monitor - 1st Quarter 2014, Kenan Fikri, Mark Muro

Mountain Monitor Quarterly

The quarter’s Mountain Monitor finds that the rate of economic recovery in the major metropolitan areas of the Mountain West is no longer impervious to national trends.

The previous edition of the Mountain Monitor observed that the regional rate of recovery seemed to be converging toward that of the nation. This edition of the Mountain Monitor suggests that the trend has progressed further.

The rate of economic recovery broadly slowed across the region from the fourth quarter of 2013 to the first quarter of 2014, just as it did nationally. The national headlines in the first three months of the …

Patterns Of Dissaving Among U.S. Elders, Deborah Gray

Graduate Doctoral Dissertations

This paper examined patterns of decumulation and the role that health events and marital disruption play in forming those patterns. Study data were drawn from six biennial waves of the HRS (1998 - 2008), and merged RAND HRS data files for the period 1998 - 2008. The a priori expectation was that there will be variation in drawdown strategies households employ.

Findings suggest that patterns of dissaving are heterogeneous. The five most prevalent patterns were discussed. Households predominantly transitioned between oversaving and overspending. Households are expected to have a goal of on target spending therefore the observed cycle's dissaving will …

Montana Nonresident Traveler Expenditures And Economic Contribution: 2012, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the economic contributions, expenditures, and average daily spending of nonresident visitors to Montana during 2012.