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Secular Stagnation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A., PhD. (n.d.). Handwritten notes summarizing Larry Summers on secular stagnation, referencing Alvin Hansen, Knut Wicksell, Kenneth Rogoff, Robert Gordon, Ben Bernanke, and Paul Krugman [Unpublished handwritten notes].

• Shaikh, A., PhD. (2016, January 8). Handwritten notes for ASSA panel I discussing competition, micro and macro levels of economic theory, and secular stagnation, including discussion of Anwar Shaikh’s book and references to Deirdre McCloskey, Ursula K. Le Guin, Robert J. Shiller, George Soros, and Mariana Mazzucato [Unpublished handwritten notes].

• Shaikh, A., PhD. (2017, January 7). Handwritten notes for a session featuring Hans Despain on the secular stagnation …

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Three Essays On Private Market Interactions, Jonathan Daigle

Electronic Theses and Dissertations

The first study addresses why insurers, whom traditionally invest in relatively safe assets, choose to invest in private equity (PE). Using insurer financial disclosures, we test theories relating how risk shifting, managerial discretion, underinvestment, asset liability matching, regulation, home bias, and reaching for yield affect PE investment. Results indicate risk¬ shifting and managerial discretion by stock insurers does not factor into the PE investment decision. In addition, results confirm home bias positively influences PE investment while underinvestment, asset liability matching, and regulation deter PE investment. Finally, insurers have not increased their PE allocation due to low-yield interest rate environments. The …

University–Industry Collaboration In A Factor-Driven Economy: The Perspective Of Egyptian Industry, Hala Elhadidi, David A. Kirby

Business Administration

This is the fourth article in a series dealing with the role of universities in the innovation process in Egypt. The first three examined the topic from the perspective of academia. They revealed that there was relatively little university–industry collaboration. Hence, this article focuses on university–industry collaboration from the perspective of industry. It is based on a questionnaire survey of 237 firms located in different industrial zones in Cairo. The findings confirm the low level of university–industry collaboration, with no more than 6% of the sample claiming to have links with academia. The lack of collaboration is found to stem …

Three Essays On The Theory Of Money And Financial Institutions Essay 3: The Economy With Innovation, Externalities And Context, Martin Shubik

Cowles Foundation Discussion Papers

This essay is the third of three. The first is nontechnical and in part autobiograhpical describing the evolution of my approach to developing a microeconomic theory of money and.financial institutions. The second essay was devoted to a more formal sketch of a closed economic exchange system with no other externalities beyond money and markets. This essay builds on the existence of monetary exchange but also context, and active government with nonsymmetric information and many externaties indicate that the views of Keynes, Hayek and Schumpeter are all consistent with the next stages of complexity as the logic requires many different arrays …

The Benefit Of Collective Reputation, Zvika Neeman, Aniko Öry (Oery), Jungju Yu

Cowles Foundation Discussion Papers

We study a model of reputation with two long-lived firms that sell their products under a collective brand or under two different individual brands. Firms face a moral hazard problem because their quality investments are not observed. Investments can only be sustained due to reputational concerns. In a collective brand, consumers cannot distinguish between the two firms. We show that in the long run, this makes it harder to establish a good reputation because of the incentives to free-ride on the other firm’s investments. But in the short run it mitigates the temptation to milk good reputation. Consequently, a collective …

Uniform Inference In Panel Autoregression, John C. Chao, Peter C.B. Phillips

Cowles Foundation Discussion Papers

This paper considers estimation and inference concerning the autoregressive coefficient (ρ) in a panel autoregression for which the degree of persistence in the time dimension is unknown. The main objective is to construct confidence intervals for ρ that are asymptotically valid, having asymptotic coverage probability at least that of the nominal level uniformly over the parameter space. It is shown that a properly normalized statistic based on the Anderson-Hsiao IV procedure, which we call the M statistic, is uniformly convergent and can be inverted to obtain asymptotically valid interval estimates. In the unit root case confidence intervals based on this …

A Note On Optimal Inference In The Linear Iv Model, Donald W.K. Andrews, Vadim Marmer, Zhengfei Yu

Cowles Foundation Discussion Papers

This paper considers tests and confidence sets (CS’s) concerning the coefficient on the endogenous variable in the linear IV regression model with homoskedastic normal errors and one right-hand side endogenous variable. The paper derives a finite-sample lower bound function for the probability that a CS constructed using a two-sided invariant similar test has infinite length and shows numerically that the conditional likelihood ratio (CLR) CS of Moreira (2003) is not always very close to this lower bound function. This implies that the CLR test is not always very close to the two-sided asymptotically-efficient (AE) power envelope for invariant similar tests …

Efficiency, But At What Cost? Evidence From A Dea Analysis Of Wv School Districts, Eduardo Minuci, Amir B. Neto, Joshua C. Hall

Economics Faculty Working Papers Series

West Virginia schools are consistently below the national average on the NAEP. Using Data Envelopment Analysis, we estimate the technical efficiency of West Virginia school districts. We find less variation in technical efficiency in West Virginia than in similar studies conducted in other states. This appears to be because of state policy imposing homogeneity of input usage. Due to the limited variation in technical efficiency across districts, we cannot analyze how non-school inputs such as socioeconomic factors affect technical efficiency across districts. Summary statistics organized by county economic status, however, suggest that socioeconomic status plays a role. Our results highlight …

Examining The Impact Of Modern Money Theory On Non-Traditional Means Of Increasing Aggregate Demand, Storm Boris

Economics Honors Papers

The recent period of ultra-low interest rates and chronically inadequate aggregate demand has led to a series of prominent new proposals of nontraditional means of increasing aggregate demand. That same stagnation has allowed for the increasing influence within the field of Modern Money Theory, a theoretical framework derived from historical observations regarding the role of money. I will explore the impact of Modern Money Theory (MMT) on two of the most prominent proposals for increasing aggregate demand, helicopter money and negative interest rates. I will explain why MMT would suggest, not only are these policies either limited in their effectiveness, …

Intra-Industry Trade In Agricultural Products Between The United States, Nafta And European Union Trading Partners, Shuvo Chakraborty

Electronic Theses and Dissertations

This study provides an overview of trends and identifies country-specific determinants of intra-industry trade (IIT) between the United States (U.S.), the European Union (EU) and the North American Free Trade Agreement (NAFTA) trading partners. We analyze the food and live animal industry at the Standard International Trade Classification (SITC) revision 4 at the 4-digit level to calculate IIT and cover the period between 2007 and 2014. To determine the country-specific determinants of IIT, we used a Generalized Least Squares (GLS) random effect model. Results indicate that the size of an economy, the relative difference in level of economic development, the …

Structural Change And Industrial Policy: A Case Study Of Ethiopia’S Leather Sector, Michael Mbate

Journal of African Trade

Recent empirical evidence underscores the vital role of industrial development in fostering structural change and promoting a country's long-run development objectives. Devising sound industrial policy institutions emerges as a key policy option to promote the reallocation of human, physical and financial resources to high value added sectors of the economy. This paper examines the rationale for industrial policy, why it has been ineffective in most African countries and what policy lessons should be distilled from past experiences. Using the Ethiopian leather and leather product sector, it examines how industrial policies are formulated and implemented in practice. The paper concludes by …

Modelling The Economic Impact Of The Tripartite Free Trade Area: Its Implications For The Economic Geography Of Southern, Eastern And Northern Africa☆, Andrew Mold, Rodgers Mukwaya

Journal of African Trade

This study evaluates the economic impact of the proposed COMESA-SADC-EAC Tripartite Free Trade Area (TFTA) on 26 African countries. It uses the Global Trade Analysis Project (GTAP) computable general equilibrium (CGE) model and database to measure the static effects of the establishment of the TFTA on industrial production, trade flows and consumption in the TFTA. The results indicate a significant increase in intra-regional exports as a result of tariff elimination, boosting intra-regional trade by 29%. Particularly encouraging is the fact that the sectors benefiting most are manufacturing ones, such as light and heavy manufacturing, and processed food. Concerns have been …

Common Trend In Wic And Non Wic Breastfeeding Rate: A Cointegration Approach Of Panel And Time Series Data, Nazia Azim

Electronic Theses and Dissertations

This thesis explores the trend of WIC (Women Infants and Children) and non WIC breastfeeding rates in U.S.A. WIC is a special supplemental nutrition program by USDA (United States Department of Agriculture). Time and panel data series have been used for 50 states of U.S.A and D.C (District of Columbia) to analyze the common trend between the two breastfeeding rates (time series data for 35 years and panel data series for 28 years). To determine the common trend, I used residual based cointegration for time series and recently developed error correction based cointegration for panel data series. I also constructed …

An Analysis Of Factors Affecting Bid Of Infant-Formula Manufacturers In Wic Rebate Auctions, Raymond Opoku

Electronic Theses and Dissertations

This thesis investigates the factors that affect bid decisions of infant-formula manufacturers in WIC rebates auctions. Since its inception in 1972, the WIC program has served more than half of participating women and their infants each year. Today, Infant formula - the most expensive food item on the WIC menu - is accessible to all participants for free through the WIC rebate program. Through the rebate program, firms submit bids to solely supply their infant formula to a state WIC agency at a discount leading to fall in net prices. Yet, the firms in the infant formula market are selective …

Measuring Central Bank Credibility From The Effect Of Inflation Shocks On Asset Prices, Junmei Xu

Electronic Theses and Dissertations

In the early 1990s, the Bank of Canada explicitly adopted the inflation-targeting framework for monetary policy, while the Federal Reserve did not; instead, the Fed settled on an implicit inflation-targeting framework. In this study, I test whether the Bank of Canada and the Federal Reserve earned credibility for their respective commitments— explicit or otherwise—to maintain low and stable inflation. I model how credibility shapes the responses of asset prices to inflation shocks. And, for each country, I estimate responses of commodity and foreign exchange prices to announcements of inflation shocks during the periods of 1982 to 1991 (pre-inflation targeting period) …

The Role Of Aid For Trade And Foreign Direct Investment In Poverty Reduction: A Panel Data Analysis Of 91 Developing Countries, Olivia Durowah

Electronic Theses and Dissertations

Aid for trade (AFT) focuses on helping developing nations to overcome supplyside constraints in trade to maximize trade benefits and use trade to achieve economic growth and poverty reduction. Since its inception at the 2005 Hong Kong ministerial conference, AFT has become viewed as a crucial tool for helping developing countries and donors continue to shift their attention to AFT programs, even in times of prolonged global financial crisis. AFT programs ultimately seeks to achieve growth poverty reduction. Thus, this study focuses on assessing the role of AFT and foreign direct investment in poverty reduction using the headcount ratio (1.90 …

Explaining The Gender Wage Gap In Rural And Urban China, Wei Gu

Electronic Theses and Dissertations

The gender wage gap is a long-standing and worldwide issue. Since the equality sense towards gender role are difference between rural and urban China, this paper will (1) compare the gender wage gap in rural and urban settings; (2) examine how the associated factors (such as education, occupation, and housework involvements) affect the wage; (3) assess and compare gender discrimination in the rural and urban labor markets. This paper utilizes the survey data from China Health and Nutrition Survey in 2011. The methods of descriptive statistics, correlation, and stepwise multiple regression models are applied in analyzing the data. The results …

Heterogeneous Nitrogen Losses: Cost-Effectiveness Analysis Of Changes In Management Across South Dakota, Archibold Quaye

Electronic Theses and Dissertations

The loss of nitrogen fertilizer into the atmosphere and waterways is of increasing concern for citizens and policy makers. This is particularly relevant for hypoxia in rivers, lakes, and oceans, but also relevant for policy makers in reducing the increasing concentration of greenhouse gases (GHG) in the atmosphere. GHGs trap heat in the atmosphere and include: carbon dioxide, methane, nitrous oxide and fluorinated gases. Overall, the estimated contribution from the agricultural sector to GHG emissions was 9% in 2013 (EPA, 2013). Further, the addition of nitrogen to the soil through the use of synthetic fertilizers is a main contributor to …

Labor Income Distribution Turkey, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Folder Cover Label
  Shaikh, A., & Kirer, H. (2017). Labor income distribution: Turkey male kirer. Department of Economics, New School for Social Research.This item is a yellow paper folder label. It tracks research projects exploring earnings patterns within the Turkish workforce.
• Working Paper Manuscript
  Shaikh, A., & Kirer, H. (2017, February 20). Distribution of labor income in Turkey: Gender, urbanization and geographical region differences. Department of Economics, New School for Social Research.This item is an unpublished research article draft. It evaluates how gender and living areas shape individual income parameters.
• Manuscript Reference Bibliography
  Shaikh, A., …

Indonesia’S Centripetal Democracy And Economic Growth, Michael T. Rock

Economics Faculty Research and Scholarship

What has been the impact of democracy on growth in Indonesia? An early view emphasized a growth and investment slowdown, but more recent data suggest otherwise. What accounts for the reversion to New Order growth and investment rates? My answer is the adoption of more centripetal and developmental democratic institutions in an otherwise messy democracy that has pushed political parties and presidents to compete for votes by promising to clean up government and restore growth.

More Than Food: An Analysis Of Multidimensional Relationships In Our Food System, Jessica Erin Newnan

Honors Theses and Capstones

Food is an integral part of everyday life for human beings, thus meriting particular attention from research and education. Looking further in depth at the factors that influence food, it becomes apparent that this is a complex topic that is related to several systems within the constructs of society. Here, the food system is approached with the understanding that several systems influence food consumption options and decisions including the agricultural, economic, education, energy, health, and political systems. To identify the relationships more closely, a three-dimensional model was built to represent the food system and depict several key factors, their relationships, …

Luck, Justice And Systemic Financial Risk, John Linarelli

Scholarly Works

Systemic financial risk is one of the most significant collective action problems facing societies. The Great Recession brought attention to a tragedy of the commons in capital markets, in which market participants, from first-time homebuyers to Wall Street financiers, acted in ways beneficial to themselves individually, but which together caused substantial collective harm. Two kinds of risk are at play in complex chains of transactions in financial markets: ordinary market risk and systemic risk. Two moral questions are relevant in such cases. First, from the standpoint of interactional morality, does a person have a moral duty to avoid risk of …

Identifying Multiple Predictors Of Physical Rehabilitation Outcomes, Jacklyn M. Sullivan, Elizabeth B. Fauth, Sydney Y. Schaeffer

Research on Capitol Hill

Previous studies have suggested that disability in activities of daily living (ADLs) is an outcome of cognitive impairment, physical limitations, psychosocial factors, and environmental constraints. We hypothesis that cognitive abilities and psychosocial factors measured at admission can be used to predict a patients physical therapy progression in a transitional care facility. Environmental conditions were held constant for all patients and physical limitations were not used as a predictor of therapy progression, as the test for therapy progression is based on physical ability. In a sample of adults (n=93) aged 38-98 receiving physical rehabilitation treatment, we collected Minimum Data Set (MDS) …

Part 4: Airbnb Rising: Short-Term Rentals And The "Gig Economy", Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Airbnb offers consumers short-term rentals that increase choice and lower costs. Cities in the Commonwealth are struggling with the question of how to work with Airbnb and similar firms, and the rise of Airbnb is a challenge to the traditional lodging sector. We explore the emergence of Airbnb, its phenomenal growth, and ask how Airbnb plays a role in the larger “gig economy.”

Part 5: Affordability And Access In Virginia Public Higher Education, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The typical public four-year university has increased its published tuition and fees two to four times as rapidly as the consumer price index. Have reductions in state appropriations driven these increases or are they a result of administrative proliferation, new amenities and the lack of firm control on tuition and fees by the Commonwealth? We estimate the costs and consequences.

Part 3: The Scourge Of Opioids In The Commonwealth, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Opioid-related deaths have skyrocketed in the Commonwealth and the United States. Almost three-quarters of those who abuse opioids start with a legitimate prescription. We investigate the rise of fentanyl as the primary cause of overdose fatalities and compare opioid practices in the United States with other industrialized countries. We estimate the costs of the opioid crisis and ask what steps can be taken to help those currently addicted and to prevent future deaths.

Part 6: Time To Go Regional Or Mega?, Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Interest in regional cooperation is rising again in the Commonwealth. We discuss the benefits of regionalism and examine the rise of megaregions in the United States. We ask whether there is a Richmond-Hampton Roads megaregion in the making.

2017 State Of The Commonwealth Report, Vinod Agarwal, Barbara Blake Gonzalez, Chloe Cohen, Vicky Curtis, Steve Daniel, Chip Filer, Dominique Johnson, Tim Komarek, Feng Lian, Sharon Lomax, Alice Mcadory, Janet Molinaro, Ken Plum, Jennifer Seay, Aiden Thompson, Jay Walker, Son D. Wilson, Ziniya Zahedi

State of the Commonwealth Reports

This is the third State of the Commonwealth Report produced by the Center for Economic Analysis and Policy at Old Dominion University. The report is sponsored, in part, by ODU's Strome College of Business. While the report represents the work of many people connected in various ways to the university, it does not constitute an official viewpoint of Old Dominion, its president, John R. Broderick, or the Board of Visitors.

This report maintains the goal of stimulating thought and discussion that ultimately will make the Commonwealth of Virginia an even better place to live, work, and do business. We are …

Epic: A Real Property Investment And Management Company, James E. Larsen

Finance and Financial Services Faculty Publication

No abstract provided.

The Moral High Road In The Undercity: An Examination Of Ethics In A Mumbai Slum, Mary L. Bauer

Catholic Studies Faculty Publications

As of 2016, 1.6 billion people around the globe lacked proper shelter and of these, one billion lived in informal settlements, also called slums, according to data collected by the United Nations (UN-Habitat 2016). Investigative journalist Katherine Boo spent four years, between 2007 and 2011, interviewing and shadowing the residents of one such slum on the outskirts of Mumbai. Her goal was to draw attention to socio-economic inequality (Boo, 2014 pp. 247-248), but in the course of collecting data about the consequences of poverty and residents’ attempts to rise out of it, she also recorded information about their moral choices, …