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2016

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Articles 511 - 540 of 1616

Full-Text Articles in Economics

Consumers On A Leash: Advertised Sales And Intertemporal Price Discrimination, Aniko Öry Jul 2016

Consumers On A Leash: Advertised Sales And Intertemporal Price Discrimination, Aniko Öry

Cowles Foundation Discussion Papers

The Internet allows sellers to track “window shoppers,” consumers who look but do not buy, and to lure them back later by targeting them with an advertised sale. This new technology thus facilitates intertemporal price discrimination, but simultaneously makes it too easy for a seller to undercut her regular price. Because buyers know they could be lured back, the seller is forced to set a lower regular price. Advertising costs can, therefore, serve as a form of commitment: a seller can actually benefit from higher costs of advertising. Based on this framework, the impact of commitment on prices, profits, and …

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Common Ownership, Competition, And Top Management Incentives, Miguel Antón, Florian Ederer, Mireia Giné, Martin Schmalz Jul 2016

Common Ownership, Competition, And Top Management Incentives, Miguel Antón, Florian Ederer, Mireia Giné, Martin Schmalz

Cowles Foundation Discussion Papers

Standard corporate finance theories assume the absence of strategic product market interactions or that shareholders don’t diversify across industry rivals; the optimal incentive contract features pay-for-performance relative to industry peers. Empirical evidence, by contrast, indicates managers are rewarded for rivals’ performance as well as for their own. We propose common ownership of natural competitors by the same investors as an explanation. We show theoretically and empirically that executives are paid less for own performance and more for rivals’ performance when the industry is more commonly owned. The growth of common ownership also helps explain the increase in CEO pay over …

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Transatlantic Influences On American Corporate Jurisprudence: Theorizing The Corporation In The United States, Tara Helfman Jul 2016

Transatlantic Influences On American Corporate Jurisprudence: Theorizing The Corporation In The United States, Tara Helfman

Indiana Journal of Global Legal Studies

In interpreting and evaluating the history of the Supreme Court's corporate jurisprudence, legal scholars have deployed three broad theories of corporate legal personality: the aggregate entity theory, the artificial entity theory, and the real entity theory. While these theories are powerful ways of conceptualizing the corporation, this article shows that they have not been as central to the Supreme Court's corporate jurisprudence as recent scholarship suggests. It instead argues that historic transformations in the high court's corporate jurisprudence are best understood in light of contemporary intellectual currents rather than through an expost facto application of the aggregate, artificial, and real …

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Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen Jul 2016

Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen

Indiana Journal of Global Legal Studies

This article seeks to provide a theoretical account of how management-based regulation (MBR), a new regulatory style used by many global regulators, affects its targets. The article centers on a case study. It introduces agencement theory as the theoretical heuristic to inform the analysis of a global, large-scale MBR scheme, the Basel Committee on Banking Supervision's Internal Capital Adequacy Assessment Program (ICAAP). In agencement theory, agency is understood in a neomaterialist frame. The core idea is that an actor's actions are determined by the material assemblage that constitutes her. The agencement heuristic allows ICAAP to be conceptualized as a regulatory …

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Contesting Austerity: The Potential And Pitfalls Of Socioeconomic Rights Discourse, Joe Wills, Ben Warwick Jul 2016

Contesting Austerity: The Potential And Pitfalls Of Socioeconomic Rights Discourse, Joe Wills, Ben Warwick

Indiana Journal of Global Legal Studies

This article argues that, while socioeconomic rights have the potential to contribute to the contestation of austerity measures and the reimagining of a "postneoliberal" order, there are a number of features of socioeconomic rights as currently constructed under international law that limit these possibilities. We identify these limitations as falling into two categories: "contingent" and "structural". Contingent limitations are shortcomings in the current constitution of socioeconomic rights law that undermine its effectiveness for challenging austerity measures. By contrast, the structural limitations of socioeconomic rights law are those that pertain to the more basic presuppositions and axioms that provide the foundations …

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State Ownership And The United Nations Business And Human Rights Agenda: Three Instruments, Three Narratives, Mikko Rajavuori Jul 2016

State Ownership And The United Nations Business And Human Rights Agenda: Three Instruments, Three Narratives, Mikko Rajavuori

Indiana Journal of Global Legal Studies

The rise of globally-oriented state ownership has emerged as a crucial issue across political, economic, and legal planes during the past decade. Contrary to the traditional approach where state ownership is viewed primarily through trade law, antitrust law, and corporate law, this article discusses the proliferating state shareholder power in relation to international human rights law. In particular, the article interrogates three recent U.N. human rights governance instruments by using narratives that highlight perils, potential, and specialty of state ownership in the emerging business and human rights agenda. It is argued that the U.N. instruments realize the changes in the …

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The International Investment Regime After The Global Crisis Of Neoliberalism: Rupture Or Continuity?, Nicolas Perrone Jul 2016

The International Investment Regime After The Global Crisis Of Neoliberalism: Rupture Or Continuity?, Nicolas Perrone

Indiana Journal of Global Legal Studies

This article aims to show that the tools being used to recalibrate the international investment regime, in particular proportionality and corporate social responsibility, constitute continuity rather than rupture with neoliberalism and neoliberal legality. Neoliberalism has been discredited, and few actors suggest a return to self-regulation after the 2008 global economic crisis. This call for regulation, however, finds international economic law scholarship divided between those who claim that standards of review and corporate social responsibility can solve the crisis of neoliberalism, and those who believe that the problem is more profound. In the case of the international investment regime, this article …

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Extension Of The Gravity Model: A Risk Integrated Approach Towards The Impact Analysis Of Mega Sports Events On Inbound Tourist Arrivals, Abdul Sami Stanekzai Jul 2016

Extension Of The Gravity Model: A Risk Integrated Approach Towards The Impact Analysis Of Mega Sports Events On Inbound Tourist Arrivals, Abdul Sami Stanekzai

Engineering Management & Systems Engineering Theses & Dissertations

Mega sports events such as the Olympics and the FIFA World Cup are highly attended and countries compete ferociously to host such events due to their perceived long term positive effects. Inbound tourist forecasting is an important aspect of the hosting decision both for the organizing committees and the hosting nations. As a precaution against letting the event fall into incapable hands, which can lead into chaos and mismanagement, measures needs to be taken. Capacity evaluation of interested parties is possible, only by knowing the number of people who may attend the event. However, due to the infrequent occurrence of …

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Analysis Off Dependent Discrete Choices Using Gaussian Copula, Arjun Poddar Jul 2016

Analysis Off Dependent Discrete Choices Using Gaussian Copula, Arjun Poddar

Mathematics & Statistics Theses & Dissertations

A popular tool for analyzing product choices of consumers is the well-known conditional logit discrete choice model. Originally publicized by McFadden (1974), this model assumes that the random components of the underlying latent utility functions of the consumers follow independent Gumbel distributions. However, in practice the independence assumption may be violated and a more reasonable model should account for the dependence of the utilities. In this dissertation we use the Gaussian copula with compound symmetric and autoregressive of order one correlation matrices to construct a general multivariate model for the joint distribution of the utilities. The induced correlations on the …

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Undermining Educational Equity In New Jersey, John Yinger Jul 2016

Undermining Educational Equity In New Jersey, 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.

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A Sustainable Approach To Health Systems Strengthening In Developing Countries: Lessons From The Ebola Crisis, Prince Tarnah Jul 2016

A Sustainable Approach To Health Systems Strengthening In Developing Countries: Lessons From The Ebola Crisis, Prince Tarnah

Capstone Collection

The research paper started with emphasizing the importance of health security as an issue of global concern under the UNDP theory of human security. The research then proceeded with a focus on the approaches to health systems strengthening and a reflection on lessons learned from the Ebola virus outbreak to answer the question: How do we approach health systems strengthening (HSS) to achieve sustainable impact? Scholarly articles, and literature from other authoritative sources on health systems strengthening, like the World Health Organization (WHO) and the US Agency for International Development (USAID), were reviewed to determine a clear definition of HSS, …

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Analisis Faktor Resiliensi Rumah Tangga Petani Dalam Menghadapi Variabilitas Iklim, Amalia Dwi Marseva, Eka Intan Kumala Putri, Ahyar Ismail Jul 2016

Analisis Faktor Resiliensi Rumah Tangga Petani Dalam Menghadapi Variabilitas Iklim, Amalia Dwi Marseva, Eka Intan Kumala Putri, Ahyar Ismail

Jurnal Ekonomi dan Pembangunan Indonesia

Climate variability potentially giving shocks to farmers household. This research aims to identify farmers household vulnerability, identify factors affecting resilience, and identify the adaptation mechanism of farmers household in facing rainfall variability. The analytical methods are descriptive analysis, Livelihood Vulnerability Index, and multiple regression. Results shows that Sidamulya is more vulnerable than Wanasari. Households has low resilience. Factors that affecting resilience are education, earning level, number of years in farming, and dummy other job. Adaptive mechanisms are shifting the planting time, replace and decrease fertilizer, replace seed, and move to another job.

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Perkembangan Tingkat Pengembalian Investasi Pendidikan Antar-Provinsi: Indonesia Family Life Survey 1993–2014, Nenny Hendajany, Tri Widodo, Eny Sulistyaningrum Jul 2016

Perkembangan Tingkat Pengembalian Investasi Pendidikan Antar-Provinsi: Indonesia Family Life Survey 1993–2014, Nenny Hendajany, Tri Widodo, Eny Sulistyaningrum

Jurnal Ekonomi dan Pembangunan Indonesia

This study traces the evolution of return to education using large samples from Indonesia Family Life Survey (IFLS). This study apply Mincer Model to find rate of return to education. The rate of return to education decrease from 1993 to 2014 in Indonesia. Interestingly, the declining rate for return to education for men is much larger than for women. Return to education is considerably heterogenic across province and gender. Furthermore, the rate of women is larger than men. Finally, this study find potential experience have not different from 1993 to 1997, but have increased in 2000 and 2014.

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Inflasi Makanan Dan Implikasinya Terhadap Kebijakan Moneter Di Indonesia, Rulyusa Pratikto, Mohamad Ikhsan Jul 2016

Inflasi Makanan Dan Implikasinya Terhadap Kebijakan Moneter Di Indonesia, Rulyusa Pratikto, Mohamad Ikhsan

Jurnal Ekonomi dan Pembangunan Indonesia

Controlling food inflation in Indonesia is essential mainly caused by its persistent and relatively significant impact on the poor’s purchasing power compare to other commodities. Thus, the main purpose of this study is to determine the effectiveness of monetary policy on food inflation stabilization in Indonesia. By utilizing Structural Vector Autoregression, the empirical results provided here show that monetary policy does effectively prevent the spillover effect of food to non-food inflation. In addition to that, the exchange rate may play some role in the longer period to affect the volatility of food inflation.

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Mexico Consensus Economic Forecast, Volume 19, Number 3, Thomas M. Fullerton Jr., Adam G. Walke Jul 2016

Mexico Consensus Economic Forecast, Volume 19, Number 3, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

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Long-Run Equilibrium Shift And Short-Run Dynamics Of U.S. Home Price Tiers During The Housing Bubble, Damian S. Damianov, Diego Escobari Jul 2016

Long-Run Equilibrium Shift And Short-Run Dynamics Of U.S. Home Price Tiers During The Housing Bubble, Damian S. Damianov, Diego Escobari

School of Economics and Finance Faculty Publications

We use vector error correction models to examine the interdependence between the high and the low price tiers during the latest housing market boom and bust. For 118 of the 364 US statistical areas analyzed, the tiered price indexes are bound by a long-run relationship. In general, low tier homes appreciated more than high tier homes in the past two decades. In contrast to previous periods of high volatility, however, low tier homes appreciated more during the boom and lost more value during the bust of the market. We find a shift in the long-run equilibrium during the bubble —the …

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Institutional Ownership Stability And Real Earnings Management, Hamid Sakaki, Dave Jackson, Surendranath Jory Jul 2016

Institutional Ownership Stability And Real Earnings Management, Hamid Sakaki, Dave Jackson, Surendranath Jory

School of Economics and Finance Faculty Publications

We examine the relationship between institutional ownership stability and real earnings management. Our findings indicate that firms held by more stable institutional owners experience lower real activities manipulation by limiting overproduction. We further examine how the stability in the shareholdings of pressure-sensitive and insensitive institutional investors affect target firms’ use of real earnings management, respectively. Unlike pressure-sensitive institutional investors, the stability in the share ownership of pressure-insensitive institutional investors (i.e., investment advisors, pension funds and endowments) mitigates target firms’ use of real earnings management. Overall, our results are consistent with the view that institutional investors presence acts as a monitor …

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Bertrand Competition With Asymmetric Marginal Costs, Subhasish Dugar, Arnab Mitra Jul 2016

Bertrand Competition With Asymmetric Marginal Costs, Subhasish Dugar, Arnab Mitra

Economics Faculty Publications and Presentations

This paper tests the prediction of three discrete asymmetric duopoly price competition games in the laboratory. The games differ from each other in terms of the size of the cost asymmetry that induces a systematic variation in the difference between the firms’ marginal costs. While the standard theory requires the low-cost firm to set a price just equal to the high cost firm's marginal cost, which is identical across all three games, and win the entire market; intuition suggests that market price may increase with a decrease in the absolute difference between the two marginal costs. We develop a quantal …

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A Work Vs. Perk Model Of Leadership And Organizational Culture, Benjamin Keefer Jul 2016

A Work Vs. Perk Model Of Leadership And Organizational Culture, Benjamin Keefer

Department of Economics Working Paper Series

This paper considers the leader’s role in forming a culture by choosing the cultural focus and metric when agents have reference-dependent preferences. We find that combining a cultural work metric and external focus maximizes incentives. Principal-leaders favor this type of culture. Under agent-leadership, however, the favored culture critically depends on the relative magnitudes of the agent’s borrowing needs and pledgeable income. If agents’ borrowing needs slightly exceed the pledgeable income, agent-leaders prefer the incentive-maximizing culture. Yet, if agents’ pledgeable income exceeds the borrowing needs, agent-leaders prefer to minimize incentives by emphasizing an external cultural focus and a perk metric.

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Sensitization And Extraordinary Persistence, Benjamin Keefer Jul 2016

Sensitization And Extraordinary Persistence, Benjamin Keefer

Department of Economics Working Paper Series

We propose a behavioral model in which an agent’s attitude toward loss is affected by memories of prior losses. Due to the availability heuristic, memories of prior loss sensitize the agent and increase the weight assigned to prospective losses. Because memories of firsttime experiences exhibit multi-decade persistence in recall, our model helps explain recent empirical findings that major events can have multi-decade effects on choices. We further demonstrate consistency with stochastic dominance, so that sensitized individuals will prefer distributions demonstrating first- and second-order stochastic dominance. In an overlapping generations version of Tirole’s (2006) liquidity-scale framework, our model generates procyclical investment.

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Dampak Perubahan Nilai Tukar Terhadap Indeks Harga Konsumen Bahan Makanan Di Indonesia, Siti Suarsih, Noer Azham Achsani, Nunung Nuryartono Jul 2016

Dampak Perubahan Nilai Tukar Terhadap Indeks Harga Konsumen Bahan Makanan Di Indonesia, Siti Suarsih, Noer Azham Achsani, Nunung Nuryartono

Jurnal Ekonomi dan Pembangunan Indonesia

The fluctuation in exchange rate Indonesia may have an impact on the price of imported goods both consumer goods (finished goods) and raw materials. The aim of this study is to analyze the impact of exchange rate changes on the Consumer Price Index (CPI) of foods categories and analyze the role of the exchange rate in explaining fluctuations in the CPI of food category in Indonesia. Econometric analysis using vector error correction model, indicates that the greatest degree of pass-through occurs in the consumer price index groups of milk and eggs. Contributions of exchange rate as the result of decomposition …

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Pengentasan Orang Miskin Di Indonesia: Peran Modal Sosial Yang Terlupakan, Sofyan Yamin, Teguh Dartanto Jul 2016

Pengentasan Orang Miskin Di Indonesia: Peran Modal Sosial Yang Terlupakan, Sofyan Yamin, Teguh Dartanto

Jurnal Ekonomi dan Pembangunan Indonesia

The government has a dominance role and heavily focused on economic approach in poverty alleviaton in Indonesia. Poverty rate has been reduced, but not in significant way. Revitalization of poverty alleviation programs by promoting non-economic such as social capital becomes important. This study aims to analyze the role of social capital related to the bonding and bridging dimension in promoting poverty alleviation and protecting the poor from vulnerability. Based on the study, the bonding and bridging dimension has showed the significant effect to decrease the vulnerability and pulled out the poor from the poverty line.

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Metropolitan Area Home Prices And The Mortgage Interest Deduction: Estimates And Simulations From Policy Change, Hal Martin, Andrew R. Hanson Jul 2016

Metropolitan Area Home Prices And The Mortgage Interest Deduction: Estimates And Simulations From Policy Change, Hal Martin, Andrew R. Hanson

Economics Faculty Research and Publications

We simulate changes to metropolitan area home prices from reforming the Mortgage Interest Deduction (MID). Price simulations are based on an extended user cost model that incorporates two dimensions of behavioral change in home buyers: sensitivity of borrowing and the propensity to use tax deductions. We simulate prices with both inelastic and elastic supply. Our results show a wide range of price effects across metropolitan areas and prospective policies. Considering behavioral change and no supply elasticity, eliminating the MID results in average home price declines as steep as 13.5% in Washington, D.C., and as small as 3.5% in Miami-Fort Lauderdale, …

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Analisis Anggaran Pemerintah (Apbn Dan Apbn-P) Dalam Perspektif Demokrasi Multipartai Dan Koalisi, Badikenita Sitepu Jul 2016

Analisis Anggaran Pemerintah (Apbn Dan Apbn-P) Dalam Perspektif Demokrasi Multipartai Dan Koalisi, Badikenita Sitepu

Jurnal Ekonomi dan Pembangunan Indonesia

Democratic system change in Indonesia resulted in a change of political system and economy of Indonesia. Changes in the political system was also followed by the country’s financial sector reform (or budget) in the process of change towards prosperity residents better. Using time series data from 1982 to 2011, this study found that the coalition is formed to have a positive and significant effect on the level of budget revenues in the state budget approval and the state budget, as well as the approval of the budget at the level of state budget. The Coalition does not have influence on …

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Analisis Potensi Pajak Daerah Untuk Peningkatan Kapasitas Fiskal Kabupaten Dan Kota Di Sulawesi Utara, Sherly Ering, Dedi Budiman Hakim, Bambang Juanda Jul 2016

Analisis Potensi Pajak Daerah Untuk Peningkatan Kapasitas Fiskal Kabupaten Dan Kota Di Sulawesi Utara, Sherly Ering, Dedi Budiman Hakim, Bambang Juanda

Jurnal Ekonomi dan Pembangunan Indonesia

Despite recording double digit growth since 2005, North Sulawesi’s tax to GDRP ratio has been fairly stable at about 0,24% on average (6,89% to total revenue). This paper cataloques a range of factors that may account for the local tax potential of North Sulawesi’s to strengthen its fiscal capacity. Calculation on local tax potency especially on restaurant tax confirm gap between real revenues and its potency about Rp1.06 billion. By using panel data through econometric methodologies, the paper assesses the statistical significance of a number of potential determinants of local tax revenue, using data from 15 regions in North Sulawesi …

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Worker Cooperatives As An Innovative Strategy To Address Income Inequality?, Bryan Titzler Jul 2016

Worker Cooperatives As An Innovative Strategy To Address Income Inequality?, Bryan Titzler

Student Research – Stevenson Center

This project explores the relation between the magnitude of the cooperative sector and the degree of income inequality in a country. After a somewhat selective consideration of the possible linkages between the size of the cooperative sector and income inequality, and using Gini as the primary measure for income inequality and two proxies for the size of the cooperative sector, an empirical exploration is done in three ways. First, simple plots are used to judge the gross relation between Gini and each of the two proxies for the size of the cooperative sector. Both plots show a perceptible negative relation. …

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Brexit Giving Shared Sovereignty A Bad Name, Tan K. B. Eugene Jul 2016

Brexit Giving Shared Sovereignty A Bad Name, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary, SMU Associate Professor of Law Eugene Tan shared his thoughts on Britain's vote to leave the European Union (EU). He noted that if the UK’s exit, or Brexit, is poorly managed, it may presage the slow decline and growing irrelevance of the EU in the global political economy. He opined that the tragedy of Brexit is the profound misunderstanding of sovereignty, adding the concern now is the risk of populist exit contagion gaining traction in other EU member states, all in the name of sovereignty and democratic choice. Associate Prof Tan also said the entire episode holds …

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Productivity Growth And Structural Transformation, Roberto Samaniego, Juliana Y. Sun Jul 2016

Productivity Growth And Structural Transformation, Roberto Samaniego, Juliana Y. Sun

Research Collection School Of Economics

Economies diversify and then re-specialize as they develop. These “stages of diversification” may result from productivity-driven structural change if initially resources are concentrated in industries other than those that dominate economic structure in the long run. A calibrated multi-industry growth model with many countries and with industry differences in productivity growth rates replicates the main features of the “stages of diversification”. We also present evidence that countries systematically shift resources towards manufacturing industries with rapid productivity growth, and towards sectors with low productivity growth, consistent with the model and supporting the “productivity mechanism” for structural transformation.

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Gray's Anatomy: Understanding Uncertainty, Juliana Yu Sun, Roberto M. Samaniego Jul 2016

Gray's Anatomy: Understanding Uncertainty, Juliana Yu Sun, Roberto M. Samaniego

Research Collection School Of Economics

We explore the key mechanisms whereby uncertainty impacts the business cycle by exploring the interaction of uncertainty with growth in industries with di⁄erent technologies of production. We nd that uncertainty shocks are particularly detrimental to growth in industries with rapid capital depreciation or high investment adjustment costs. The ndings are consistent with real options theory: uncertainty leads rms to delay investment in new projects, but high depreciation and xed costs of investment make delay more costly. On the other hand, we do not nd evidence of a signicant role of nancial markets in the generation nor propagation of uncertainty shocks.

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Singapore: Real State Control, Sock Yong Phang Jul 2016

Singapore: Real State Control, Sock Yong Phang

Research Collection School Of Economics

The author explains how the government of Singapore has taken on the role of land use planner and housing developer to ensure affordable housing. Numerous instruments have been devised by governments to provide affordable housing. These can be classified into four broad categories: taxes and subsidies, land use and market regulations, public-private partnerships, and institutions that supply housing or provide financing.

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