Economics Commons^™

Disentangling Greenhouse Warming And Aerosol Cooling To Reveal Earth's Climate Sensitivity, T. Storelvmo, T. Leirvik, U. Lohmann, Peter C. B. Phillips, M. Wild

Research Collection School Of Economics

Earth's climate sensitivity has long been subject to heated debate and has spurred renewed interest after the latest IPCC assessment report suggested a downward adjustment of its most likely range(1). Recent observational studies have produced estimates of transient climate sensitivity, that is, the global mean surface temperature increase at the time of CO2 doubling, as low as 1.3 K (refs 2,3), well below the best estimate produced by global climate models (1.8 K). Here, we present an observation-based study of the time period 1964 to 2010, which does not rely on climate models. The method incorporates observations of greenhouse gas …

Entrepreneurship, College And Credit: The Golden Triangle, Roberto M Samaniego, Juliana Yu Sun

Research Collection School Of Economics

We develop a model to evaluate the impact of college education finance on welfare, inequality and aggregate outcomes. Our model captures the stylized fact that entrepreneurs with college are more common and more profitable. Our calibration to US data suggests this is mainly because higher labor earnings allow college educated agents to ameliorate credit constraints when they become entrepreneurs. The welfare benefits of subsidizing education are greater than those of eliminating financing constraints on education because subsidies ameliorate the impact of financing constraints on would-be entrepreneurs.

Investment-Specific Technical Change And Growth Around The World, Roberto M. Samaniego, Juliana Yu Sun

Research Collection School Of Economics

Investment-specific technical change (ISTC) contributes little to growth in most countries. This is because in many countries the investment process does not become notably more efficient over time. Still, cross-country differences in the contribution of ISTC to growth are significant. Differences in the rate of ISTC appear due to cross-country variation in the use of R&D intensive capital goods, as well as trade costs.

Entrepreneurship, Education And Credit: The Golden Triangle, Roberto M. Samaniego, Juliana Yu Sun

Research Collection School Of Economics

We develop a model to evaluate the impact of college education finance on welfare, inequality and aggregate outcomes. Our model captures the stylized fact that entrepreneurs with college are more common and more profitable. Our calibration to US data suggests this is mainly because higher labor earnings allow college educated agents to ameliorate credit constraints when they become entrepreneurs. The welfare benefits of subsidizing education are greater than those of eliminating financing constraints on education because subsidies ameliorate the impact of financing constraints on would-be entrepreneurs.

The Growth Of The Broadband Internet Access Market In California: Deployment, Competition, Adoption, And Challenges For Policy (Research Brief), James E. Prieger

School of Public Policy Working Papers

This report is a brief version of a longer study of the California broadband market (Paper 63). Readers interested in more background information, more empirical analysis, and more complete documentation of sources and methodology can refer to the longer report, which is available at: http://digitalcommons.pepperdine.edu/sppworkingpapers/63/.

Domestic Outsourcing In The United States: A Research Agenda To Assess Trends And Effects On Job Quality, Annette Bernhardt, Rosemary L. Batt, Susan N. Houseman, Eileen Appelbaum

Upjohn Institute Working Papers

The goal of this paper is to develop a comprehensive research agenda to analyze trends in domestic outsourcing in the United States—firms’ use of contractors and independent contractors—and its effects on job quality and inequality. In the process, we review definitions of outsourcing, the available scant empirical research, and limitations of existing data sources. We also summarize theories that attempt to explain why firms contract out for certain functions and assess their predictions about likely impacts on job quality. We then lay out in detail a major research initiative on domestic outsourcing, discussing the questions it should answer and providing …

Factors Influencing The Variation In Gms Prescribing Expenditure In Ireland, Aisling Conway Lenihan, S. Ahern, J. Cronin, N. Woods

Dept. of Management & Enterprise Publications

Background

Pharmaceutical expenditure growth is a familiar feature in many Western health systems and is a real concern for policymakers. A state funded General Medical Services (GMS) scheme in Ireland experienced an increase in prescription expenditure of 414 % between 1998 and 2012. This paper seeks to explore the rationale for this growth by investigating the composition (Anatomical Therapeutic Chemical (ATC) Group level 1 & 5) and drivers of GMS drug expenditure in Ireland in 2012.

Methods

A cross-sectional study was carried out on the Health Service Executive-Primary Care Reimbursement Service (HSE-PCRS) population prescribing database (n = 1,630,775). Three …

Holly Martins And The Impartial Spectator: The Economics Of The Third Man, Alexander W. Pickens

MAD-RUSH Undergraduate Research Conference

The film The Third Man is often critiqued for its portrayal of post-war Vienna and the abusive nature of totalitarian regimes in a nearly-anarchic state. However, this film does something that few other films do: it tackles the primary dilemmas facing economists using a visual medium and featuring some of the debates that have been plaguing economic thinkers for years (what is a just allocation of resources, competition in free markets, what happens when corrupt governments control resource allocation). Ultimately, the film is a unique analysis tension between the costs and benefits of the philosophies of Keynes and F. A. …

(Wp 2016-02) The Limits Of Central Bank Forward Guidance Under Learning, Stephen J. Cole

Economics Working Papers

Central bank forward guidance emerged as a pertinent tool for monetary policymakers since the Great Recession. Nevertheless, the effects of forward guidance remain unclear. This paper investigates the effectiveness of forward guidance while relaxing two standard macroeconomic assumptions: rational expectations and frictionless financial markets. Agents forecast future macroeconomic variables via either the rational expectations hypothesis or a more plausible theory of expectations formation called adaptive learning. A standard Dynamic Stochastic General Equilibrium (DSGE) model is extended to include the financial accelerator mechanism. The results show that the addition of financial frictions amplifies the differences between rational expectations and adaptive learning …

Endogenous Competence And A Limit To The Condorcet Jury Theorem, Bryan C. Mccannon, Paul Walker

Economics Faculty Working Papers Series

The seminal contribution, known as the Condorcet Jury Theorem, observes that under a specific set of conditions an increase in the size of a group tasked with making a decision leads to an improvement in the group's ability to make a good decision. An assumption under-appreciated is that the competency of the members of the group is assumed to be exogenous. In numerous applications, members of the group make investments to improve the accuracy of their decision making (e.g. pre-meeting efforts). We consider the collective action problem that arises. We show that if competence is endogenous, then increases in the …

Inequality Of Happiness: Evidence Of The Compression Of The Subjective-Well-Being Distribution With Economic Growth, John Ifcher, Homa Zarghamee

Economics

The use of Subjective Wellbeing (SWB) measures in economics research has grown markedly (Kahneman and Krueger 2006). This has come about for at least two reasons. First, the measures have been systematically validated as reliable for examining a range of questions. Second, economists have long relied on income as a proxy for wellbeing. However, research shows that there are potentially large slippages between economic indicators and wellbeing (Diener and Seligman 2004). Thus, SWB measures have become an important alternative proxy for wellbeing. Indeed, SWB measures have also caught the attention of policy makers. The OECD launched the Better Life Index …

Working Paper No. 35, The Machine Process In Industry And Society: A Veblenian Approach, Emily Pitkin

Working Papers in Economics

This inquiry considers Thorstein Veblen’s understanding of the machine process and some of its influences. In particular, this paper explores relationships between the machine process and industry, noting the powerful influences of standardization of outputs as well as inputs. In addition, this paper considers some of the implications of the machine process on workers, considering particularly the tendency of the machine process to enforce routines and some of the related effects on “habitual thinking.” Finally, the machine process and its relation to society will be discussed with a focus on its effects on value systems, examining also the ways in …

Aligning Delivery & Financing Systems To Advance A Culture Of Health, Glen P. Mays

Health Management and Policy Presentations

The Robert Wood Johnson Foundation's Systems for Action Research Program supports research on how best to organize, finance, and deliver the constellation of services and supports that promote health and well-being in American communities, including but extending beyond the medical care and public health sectors. This session describes work underway through the S4A program and future research priorities, building on a strong scientific foundation in the fields of health services research (HSR) and public health services & systems research (PHSSR).

Labor Mobility Causes U.S. Gdp To Fluctuate, Paul Kim

Economics Papers and Presentations

The author proposes that labor immobility was the major factor which hindered the continuous expansion of GDP in the U.S. during the period following the Great Recession. The author examines what caused labor to become immobile as the economy began to expand.

Does The Early Bird Catch The Worm Or A Lower Gpa? Evidence From A Liberal Arts College, Timothy M. Diette, Manu Raghav

School of Business and Leadership Working Papers

Colleges and universities with capacity constraints like to offer early morning classes to maximize the use of classrooms. Moreover, evenings are often reserved for extra-curricular activities. However, research from psychology has shown that a teenager’s mind benefits from additional sleep during early morning hours. We use data from a selective liberal arts college that assigns students randomly to different sections of the same course. This creates a natural experiment. Our paper shows that after controlling for other factors, students in early morning sections earn lower grades than students in sections of the same course offered later in the day. The …

Integrating Health Services & Systems: What We Know, Think We Know, And Need To Learn, Glen P. Mays

Health Management and Policy Presentations

The delivery and financing systems for medical care, public health, and social and community services pursue many common goals and serve overlapping groups of families and communities. Unfortunately, in most American communities these systems interact in complex and often poorly understood ways through fragmented funding vehicles, information flows, governance and decision-making structures, institutional relationships, implementation rules and strategies, and professional and interpersonal connections. New research approaches are required to untangle these interactions and expose novel pathways of influence that can support equitable improvements in service delivery, resource use, health impact, and wellbeing. This presentation will summarize evidence from recent studies …

Measuring Multi-Sector Contributions To Public Health Delivery Systems & Population Health, Glen P. Mays

Health Management and Policy Presentations

The National Longitudinal Survey of Public Health Systems has followed a nationally-representative cohort of U.S. communities since 1998 to measure the scope of public health activities implemented in each community and the range of organizations and sectors that contribute to each activity. With 16 years of follow-up observations, this survey allows us to study the effects of demographic, economic, and policy shocks on public health delivery systems, and estimate the health effects attributable to delivery system change.

Your Brain: Unconscious Decision-Making And How It Affects Your Life And Learning, James Stellar

Campus Conversations in Standish

No abstract provided.

Use Of Online Career Development Tools By Vocational Rehabilitation Professionals, Rebecca Goe, Catherine Ipsen, University Of Montana Rural Institute Rural Institute

Employment

Online career development refers to using online resources such as social media and job boards for finding employment and advancing careers. Social networking sites like Facebook, LinkedIn and Twitter allow users to connect with potential employers and advertise their strengths to a diverse audience. Online job boards connect employers and job seekers based on specific interests, skills and locations. Unfortunately, the same online tools that can help people find employment and advance their careers can also limit opportunities if the job seeker’s online presence is unprofessional or absent (Brown & Vaughn, 2011).

Rhode Island Current Conditions Index -- March 2016, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Speeding, Punishment, And Recidivism – Evidence From A Regression Discontinuity Design, Markus Gehrsitz

Economics Working Papers

This paper estimates the effects of temporary driver's license suspensions on driving behavior. A little known rule in the German traffic penalty catalogue maintains that drivers who commit a series of speeding transgressions within 365 days should have their license suspended for one month. My fuzzy regression discontinuity design exploits the quasi-random assignment of license suspensions caused by the 365-day cutoff and shows that 1-month license suspensions lower the probability of recidivating within a year by 20 percent. This effect is not driven by incapacitation and indicates that temporary license suspensions are an effective tool in preventing traffic transgressions.

Equilibrium With Consumer Adjustment To Choice, Matthew G. Nagler

Economics Working Papers

I present a spatial model of differentiated product markets in which consumers with heterogeneous tastes rationally improve their attitude towards the product they choose. Adjustment raises prices if adjustment facility is greater for consumers who initially prefer a product more (e.g., preferences and corresponding adjustments exhibit the halo effect). It lowers prices if instead easier adjustment for consumers with weaker initial preferences causes attitudinal regression to the mean. The theory explains higher prices in markets to the poor and less educated and so motivates re-examination of previously proposed solutions to the poor performance of those markets.

Sustainability, Livelihoods, And Quality Of Life Of Older Retirees In Lagos State, Nigeria, Bola Amaike

Journal of Global Initiatives: Policy, Pedagogy, Perspective

Later life is celebrated in Africa because it is seen as a blessing from God. Therefore, older people are generally treated with dignity. But with modernization, African senior citizens suffer diverse challenges and experience difficulty in meeting their basic needs. Hence, the need for sustainable livelihoods that will address life deprivations and improve the quality of life of Nigerian elders. This article examines the sustainability of retirement livelihoods and its impact on quality of life of formal sector retirees in Nigeria. It argues that beyond the conventional survival mechanisms, Nigerian retirees require resilient and sustainable livelihoods in order to enhance …

Some Dimensions Of Farmers'-Pastoralists' Conflicts In The Nigerian Savanna, Mayowa Fasona, Eniola Fabusoro, Comfort Sodiya, Vide Adedayo, Felix Olorunfemi, Peter Omu Elias, John Oyedepo, Grace Oloukoi

Journal of Global Initiatives: Policy, Pedagogy, Perspective

The savanna ecosystem covers about 48.5% of Nigeria’s land area. It is a national common for intensive cropping and extensive grazing. Fierce competition for land and water resources among the crop farmers and pastoralists is a common feature. This article shares insights from two separate, but linked, studies conducted in the Nigerian savanna on the livelihood and food security of the local peasant farming communities and the vulnerability of the settled Fulani agro-pastoralists’ livelihoods. Household interviews, focus group discussions, and key informant interviews were employed among both the farming and agro-pastoralist communities. 191 respondents in 11 local farming communities and …

Loan Counseling For Graduate And Professional Students, Patricia Steele, Chad Anderson

Commissioned Research

This report provides an overview of existing literature that examines loan counseling and financial literacy for graduate and professional students, and includes actionable recommendations for stakeholders to better support students in making optimal financial decisions about their loans and other aspects of their personal finances. The report was authored by Patricia Steele, Ph.D., and Chad Anderson with Higher Ed Insight.

Experience And Worker Flows, Aspen Gorry

Economics and Finance Faculty Publications

This paper studies the role of worker learning in a labor market where workers have incomplete information about the quality of their employment match. The amount of information about the quality of a new match depends on a worker’s past job experience. Allowing workers to learn from experience generates a decline in job finding probabilities with age that is consistent with patterns found in the data. Moreover, workers with more past experience will on average have less wage volatility on new jobs, which is also consistent with the data. In contrast to the fact that the cross-sectional wage distribution fans …

Commercial Bank Small Business Lending Pre And Post Crisis, Kevin T. Jacques, Richard Moylan, Peter J. Nigro

The Journal of Entrepreneurial Finance

We analyze small business lending at U.S. commercial banks, how it has changed over time and how it differs by bank size. Specifically, we examine the impact of government policy intervention on small business lending in the aftermath of the financial crisis. We find several important results. First, we find that the Troubled-Asset Relief Program’s (TARP) $200 billion Capital Purchase Program (CPP) had little impact on the banks that received capital injections’ small business lending. Second, the Small Business Loan Fund (SBLF) lending program appears to have been a success as banks participating in the loan fund increased their lending …

Measuring Comprehensive Public Health Delivery Systems And Their Contributions To Population Health, Glen P. Mays

Health Management and Policy Presentations

Delivery and financing systems for public health services vary widely across U.S. communities, raising questions about the comparative effectiveness and efficiency of alternative structures. We summarize recent approaches for measuring alternative system configurations and estimating their health and economic effects.

The Optimal Distribution Of Income Revisited, Ray C. Fair

Cowles Foundation Discussion Papers

This paper revisits the optimal distribution of income model in Fair (1971). This model is the same as in Mirrlees (1971) except that education is also a decision variable and tax rates are restricted to lie on a tax function. In the current paper the tax-rate restriction is relaxed. As in Fair (1971), a numerical method is used. The current method uses the DFP algorithm with numeric derivatives. Because no analytic derivatives have to be taken,it is easy to change assumptions and functional forms and run alternative experiments. Gini coefficients are computed, which provides a metric for comparing the redistributive …

Methods For Nonparametric And Semiparametric Regressions With Endogeneity: A Gentle Guide, Xiaohong Chen, Yin Jia Qiu

Cowles Foundation Discussion Papers

This paper reviews recent advances in estimation and inference for nonparametric and semiparametric models with endogeneity. It first describes methods of sieves and penalization for estimating unknown functions identified via conditional moment restrictions. Examples include nonparametric instrumental variables regression (NPIV), nonparametric quantile IV regression and many more semi-nonparametric structural models. Asymptotic properties of the sieve estimators and the sieve Wald, quasi-likelihood ratio (QLR) hypothesis tests of functionals with nonparametric endogeneity are presented. For sieve NPIV estimation, the rate-adaptive data-driven choices of sieve regularization parameters and the sieve score bootstrap uniform confidence bands are described. Finally, simple sieve variance estimation and …