Economics Commons^™

The Impact Of Monetary Policy On The Stock Market, Simin Hojat

Walden Dissertations and Doctoral Studies

Prior studies examining the impact of monetary policy instruments on the equity market have produced mixed results. This problem is important to address because of the substantial impact of monetary policy on the economy and economic resource allocation via the equity market. The purpose of this study was to determine the impact of change in money supply (M2), change in Federal Funds Rate (FFR), and change in Federal Funds Futures (FFF) on the expected rate of returns of publicly traded companies while controlling for the rate of return of the whole equity market and size of the sampled companies. The …

Environmental Shocks, Differentiated Households And Migration: A Study In Thailand, Neil Marie Bennett

Graduate Student Theses, Dissertations, & Professional Papers

No abstract provided.

Framing Elite Consensus, Ideology And Theory And A Classcrits Response, Athena D. Mutua

Journal Articles

This short paper, really a thought piece, builds upon the examination begun in the Foreword of the ClassCrits VI Symposium which sought to outline a ClassCrits critique of neoclassical economic principles. It argues that neoliberal practices, theory and ideology, built on the scaffold of neoclassical economic ideas, frame an elite consensus that makes elites feel good but which are ethically, intellectually, and structurally problematic for the social well-being of most Americans. It does so, in part, by chronicling a number of recent practices of large corporations, including for example, the practice of inversion. Again, this paper takes as its specific …

Wage Inequality 12_12, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A. (February 22, 2015). Theory and data on wage distribution [Typed manuscript]. Unpublished paper examining the exponential distribution of wages at the industry level.

• Shaikh, A. (March 5, 2015). Theory and data on wage distribution [Draft manuscript]. Unpublished draft discussing wage equalization across occupations.

• Shaikh, A., PhD. (December 9, 2014). Two-alternative forced choice and mutual inhibition model [Handwritten notes]. Unpublished manuscript notes.

• Shaikh, A., PhD. (March 6, 2015). Random walks and the Ornstein–Uhlenbeck position process [Handwritten notes]. Unpublished manuscript notes citing Faris (2001).

• Shaikh, A., PhD. (n.d.). Exponential functions, turbulent convergence, …

Vela Nssr Payments, Anwar Shaikh Phd

Archives of Anwar Shaikh

• An email from Seth Cohen to Professor Kumaraswamy (Vela), Ellen, and William explaining a payment discrepancy in his salary and housing supplement for fiscal year 2015 (March 11, 2015)
• An email from Shaikh to William Milberg clarifying Vela's calculation of income owed based on his old and new contracts

Loose Notes And Papers, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2011, March 27). Notes on imperfect competition, the marginal principle, and entrepreneurship (Handwritten note).
• Graz Schumpeter Centre. (2011, March 27–29). Economic thinking in the classical tradition: symposium in honour of prof. heinz d. kurz on the occasion of his 65th birthday (Conference program). University of Graz (2, 3).
• Shaikh, A. (c. 2015). Notes on the measurement of essentials in economic production, engagement with mandel, and terms of trade in developing countries (Handwritten note) (6).
• Shaikh, A. (c. 2015). Notes on uneven development in the united states and the case and deaton study on deaths of …

Book Galleys With Corrections, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Capitalism: Competition, conflict, crises (Unpublished manuscript) by Anwar Shaikh.

Inequality Pyramid, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (September). Wicksell effect (Unpublished manuscript).
• Shaikh, A. (September). Inequality pyramids (Unpublished manuscript).

Chamberlin Monopolistic Competition, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Chamberlin, E. H. (1951). Monopolistic competition revisited. Economica, New Series, Volume 18, Number 72. Blackwell Publishing.

Factoryless Goods Producing Firms, Andrew B. Bernard, Teresa C. Fort

Dartmouth Scholarship

This paper documents the existence and characteristics of US firms that do not manufacture themselves, but nonetheless are heavily involved in the production of goods. These factoryless goods producing firms (FGPFs) are formally in the wholesale sector but, unlike traditional wholesale firms, FGPFs design the goods they sell and coordinate production activities. FGPFs in the wholesale sector are larger and younger, pay higher wages, span more sectors and had more manufacturing employment in previous years compared to traditional wholesalers. FGPFs are more likely to import than typical wholesalers, though their imports constitute a smaller share of their total domestic activity.

Systematic Bias And Nontransparency In Us Social Security Administration Forecasts, Konstantin Kashin, Gary King, Samir Soneji

Dartmouth Scholarship

We offer an evaluation of the Social Security Administration demographic and financial forecasts used to assess the long-term solvency of the Social Security Trust Funds. This same forecasting methodology is also used in evaluating policy proposals put forward by Congress to modify the Social Security program. Ours is the first evaluation to compare the SSA forecasts with observed truth; for example, we compare forecasts made in the 1980s, 1990s, and 2000s with outcomes that are now available. We find that Social Security Administration forecasting errors—as evaluated by how accurate the forecasts turned out to be—were approximately unbiased until 2000 and …

Spillover Effects Of Medicare Advantage Plans: Does The Market Penetration Of Plans Affect Hospital Care Quality?, Qianwei Shen

Wayne State University Dissertations

The percentage of Medicare beneficiaries enrolled in Medicare Advantage (MA) plans increased from 12 percent in 2003 to 28 percent in 2013 out of the about 50 million Medicare enrollees. Although Medicare beneficiaries are increasingly choosing MA plans, little is known about whether and how the market penetration of these plans affect the quality of hospital care provided to Medicare beneficiaries. This issue is extremely important to policy makers when they try to evaluate the importance and effectiveness of current Medicare policy, like Obama Care. This paper is designed to examine the spillover effect on the quality of hospital care …

Is Student Loan Debt Discouraging Homeownership Among Young Adults?, Jason N. Houle, Lawrence Berger

Dartmouth Scholarship

Amid concern that rising student loan debt has social and economic consequences for young adults, many suggest that student loan debt is leading young adults to forgo home buying. However, there is little empirical evidence on this topic. In this study, we use data from the National Longitudinal Survey of Youth 1997 to estimate associations of student loan debt with homeownership, mortgage amount, and home equity. We use a variety of methodological techniques and test several model specifications. While we find a negative association between debt and homeownership in some models, the association is substantively modest in size and is …

Dynamics In Health Care Expenditures For Emerging And Developed Countries, Edmundo Roman Reyes

Wayne State University Dissertations

This paper analyzes the dynamics on health care expenditures and health outcomes for emerging and developed countries. The first part of the study focus on the short-run dynamics in health care expenditures for six emerging and a selected group of six developed economies of the OECD group. An error correction model is utilized for the analysis. Results for the presence of a long term relation are consistent within the sample. In addition, direct convergence is found to be consistent as well. The speed of adjustment is larger for emerging economies than for developed economies, which indicates that developed economies would …

Essays In Adaptive Learning And Mean-Square Stability In Regime Switching Models, Jason Robert Reed

Wayne State University Dissertations

The first chapter of this dissertation analyzes the necessary and sufficient conditions for stability under recurring structural changes. Using a finite state Markov process to model stochastically evolving, state-dependent parameters I find that by employing the conditions unique to mean-square stability, the minimum state variable (MSV) solution, found in non-linear models of this reduced form, is also stable in the learning sense. However, the choice of parameter values limits the robustness of this result. Furthermore, to illustrate this outcome I develop empirical results for a model similar to Cagan’s 1956 work on hyperinflation for Germany and the United States. I …

A Three Essay Examination Of Current Pay And Safety Issues In The Truckload Sector Of The Motor Carrier Industry, Michael Robert Faulkiner

Wayne State University Dissertations

Driver turnover remains a significant problem in the truckload sector of the motor carrier industry and has been linked to large truck crashes. Large truck crashes remain a significant problem in the truckload sector of the motor carrier industry. Employing a unique firm level data set from a large U.S. truckload motor carrier, this research showed that higher driver pay reduced driver exit rates, significantly reduced a driver’s relative crash rate, reduced driver probability of sustaining a crash, and lowered the average cost of a crash for the cooperating firm.

This research identified two driver groups who were hired during …

Economic Welfare Of Firefighting Service In Detroit, Matthias H. Jung

Wayne State University Dissertations

Chapter 1 is concerned with the effect of public fire service quality on individual utility. I develop a theoretical model to account for fire risk as a function of socio-economic, housing, and spatial factors. I review relevant literature on certain inherent public fire service issues regarding technology and cost structure before I briefly discuss the importance of public fire service with regard to overall social welfare. Finally, I employ equity mapping in a case study to assess the effect of a budget cut on equity of fire service allocation in Detroit.

Chapter 2 examines whether socio-economic factors, various aspects of …

Crime, Institutions And Sector-Specific Fdi In Latin America, Luisa Blanco, Isabel Ruiz, W. Charles Swayer, Rossitza Wooster

Economics Faculty Publications and Presentations

In this article, we explore how crime and institutions affect the flow of capital in the form of foreign direct investment (FDI) to Latin American and Caribbean countries in the primary, secondary and tertiary sectors during the 1996-2010 period. We use three different variables related to violent crime: homicides, crime victimization, and an index of organized crime. We find that there is a correlation between the institutional and crime variables, where the significance of institutional variables tends to disappear when the crime variables are added to the model. We find that higher crime victimization and organized crime are associated with …

Predicting The U.S. Recessions With Housing Starts In Dynamic Probit Models, Yan Cui

Electronic Theses and Dissertations

The crash of the U.S. housing market and the 2007-2009 recession that follohave reignited discussion about forecasting recessions. Most recessions have in fact been preceded by plummets in the housing industry in the U.S. history. The present study examines the predictive power of housing starts using dynamic probit models. The yield spread between the ten-year Treasury bond and three-month Treasury bill rates, is also adopted to further demonstrate the predictive properties of the housing variable. Different model functional forms are explored in which the lag structure, especially the growth rate term for housing starts, is constructed in an innovative way …

The Economics Of Individual Philanthropy: Essays On Religiosity, And Charitable Giving By Married Couples, Yan Li

Electronic Theses and Dissertations

This dissertation investigates the market of individual philanthropy through two essays on religiosity and charitable giving by married couples. The second chapter examines whether people who engage in religious activities are more generous in terms of both religious and secular giving and whether gender differences exist in charitable giving within different levels of religiosity. The results of bivariate probit and tobit analyses show that religious people have a greater propensity to give and higher levels of giving to both religious and secular charitable organizations. A zero-inflated ordered probit model is used to analyze an individual donor’s decision-making process, and the …

Three Essays On Firm Liquidity Management, Chris M. Lawrey

Electronic Theses and Dissertations

In Part 1, we study the costs associated with firm illiquidity. We specifically examine the impact of illiquidity on the costs of financing, financial distress, underinvestment, and competitiveness in product markets. We focus on a comprehensive definition of liquidity that expands upon the typical measure of liquidity, cash and marketable securities, commonly used in the management literature. Our liquidity index, derived from existing cash and marketable securities, available credit lines and cash volatility, measures the likelihood that a firm will become illiquid. Lastly, we address the endogeneity issue that plagues corporate literature linking firm performance to other firm attributes using …

Dynamically Hedging Oil And Currency Futures Using Receding Horizontal Control And Stochastic Programming, Paul Edward Cottrell

Walden Dissertations and Doctoral Studies

There is a lack of research in the area of hedging future contracts, especially in illiquid or very volatile market conditions. It is important to understand the volatility of the oil and currency markets because reduced fluctuations in these markets could lead to better hedging performance. This study compared different hedging methods by using a hedging error metric, supplementing the Receding Horizontal Control and Stochastic Programming (RHCSP) method by utilizing the London Interbank Offered Rate with the Levy process. The RHCSP hedging method was investigated to determine if improved hedging error was accomplished compared to the Black-Scholes, Leland, and Whalley …

Determining The Directional Flows Of Foreign Direct Investments In The Asean Region: Key Macroeconomic And “Doing Business” Indicators Affecting The Direction Of Asean Fdi Inflows And Its Impact On Intra- And Extra-Asean Trade, Roberto Raymundo

Angelo King Institute for Economic and Business Studies (AKI)

Job creation, increasing household income, and the improvement of living standards do not only depend on the provision of adequate social services and government infrastructure support, but more so, on the growth and expansion of private sector investments. The creation of new jobs and the expansion of manufacturing productive capacity are roles better performed by the private sector rather than by governments constrained by the amount of resources that they can mobilize through taxation.

Industry Career Guide: Health And Wellness, Paulynne Castillo, Madel Balane

Angelo King Institute for Economic and Business Studies (AKI)

The Health and Wellness Services industry belongs to the services sector. The National Statistical Coordination Board (2007) defines it as institutions that cater to the “activities of persons traveling to and staying in places outside their usual environment for not more than one consecutive year for health and wellness purposes not related to the exercise of an activity remunerated from within the place visited”. Establishments belonging to the industry, therefore, are in engaged in: 1) hospital care and treatment – refer to services offered by public and private hospitals, sanitaria and other similar services; 2) specialty clinics – pertain to …

Industry Career Guide: Construction, Ma. Concepcion G. Latoja, Dickson A. Lim

Angelo King Institute for Economic and Business Studies (AKI)

This paper is a career guide on the Philippine construction industry. It provides a general overview into the nature and role of construction in the context of the general macroeconomy, highlights its employment-generating capacity and manpower development prospects, and gives jobseekers and other interested parties a peek into the industry’s likely direction in terms of performance and labor market interface within the next short run cycle.

Breaking The Chains Of Poverty Among Filipino Households: Will It Be In This Lifetime?, John Paolo R. Rivera

Angelo King Institute for Economic and Business Studies (AKI)

The Asian Development Bank (ADB) attributes persistent poverty in the Philippines to “weak macroeconomic management, employment issues, high population growth, an underperforming agricultural sector and unfinished land reform agenda, governance issues including corruption and a weak state, conflict and security issues, particularly in Mindanao, and disability” (Asian Development Bank [ADB], 2005, xvii). Despite copious and varied government initiatives to remedy the situation, however, Filipinos in the lower income deciles continue to suffer from the constant deprivation of basic necessities (Schelzig, 2005).

Industry Career Guide: Wholesale And Retail Trade, Christopher James R. Cabuay, Paulynne Castillo

Angelo King Institute for Economic and Business Studies (AKI)

The Wholesale and Retail Trade (WRT) industry belongs to the services sector. In the Philippines, it is generally composed of three divisions, namely: Division 50, which consist of Sale, Maintenance and Repair of Motor Vehicles and Motorcycles, Retail Sale of Automotive Fuel, Division 51, on the other hand, which consist of Wholesale Trade and Commission Trade, Except of Motor Vehicles and Motorcycles, and Division 52, consisting of Retail Trade, Except of Motor Vehicles and Motorcycles, Repair of Personal and Household Goods.

Industry Career Guide: Mining, Roberto Raymundo

Angelo King Institute for Economic and Business Studies (AKI)

The mining industry in the Philippines plays a very significant role in the pursuit of industrial development because of the sector’s ability to provide mineral resources that serve as raw materials for manufacturing, construction, the utilities as well as the transportation and communications sector. It is also a major contributor of foreign currency through the exports of mineral ore and other processed mineral products and provides employment to communities in far flung areas where the only source of economic activity is mining operations. The extraction of copper, gold, silver, nickel, coal, gas, oil, stone and gravel as well as finding …

Sapat Na Ba Ang Pagsesenyas Upang Tugunan Ang Di-Pagtutugma Sa Bilihan Ng Paggawa, Tereso S. Tullao Jr

Angelo King Institute for Economic and Business Studies (AKI)

Sa harap ng maraming teorya at pananaw sa pagpapaliwanag tungkol sa pagkakaroon ng di-pagtutugma ng kasanayan, sa isang banda, at sa pangangailangan ng mga kompanya, sa kabilang banda, sa bilihan ng paggawa, ang di-timbang na impormasyon ang nangingibabaw na paliwanag. Subalit sa lawak ng impormasyong kinakailangan, at sa magastos na paglikom ng impormasyon, ang mekanismo ng pagsesenyas sa bilihan ng paggawa na isinasagawa ng pamahalaan ay maaaring magkulang sa pagsasara ng agwat sa impormasyon. Ang kakulangang ito ay nagiging lantad kapag lumalabas na ang ganap na impormasyon ay nangyayari lamang sa aktuwal na kapaligiran ng trabaho. Sa aktuwal na trabaho, …

Promise Nation: Transforming Communities Through Place-Based Scholarships, Michelle Miller-Adams

Upjohn Press

Miller-Adams describes how the various "Promise-type" place-based scholarship programs impact college access, financial aid, and community transformation.