Economics Commons^™

Nebraska Business And Consumer Confidence Indexes: June 2, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer confidence fell in Nebraska during May 2017 while business confidence remained very strong. The Consumer Confidence Index – Nebraska (CCI-N) fell to roughly neutral during May. The CCI-N stood at 102.5 in April but fell to 100.4 during May, which is only slightly above the neutral value of 100.0. The outlook of Nebraska businesses remained very strong. The Business Confidence Index – Nebraska (BCI-N) rose to 110.2 in May, above its April value of 109.1 and well above the neutral value. Business confidence has been very strong in Nebraska during the first five months of 2017. When asked about …

Sewing Garments, Sowing Lives: Two Generations Of Migrant Workers' Back And Forth To The Chinese Coast, Alice Tzou

Dissertations, Theses, and Capstone Projects

Migrant workers in China have been at the center of popular news media and scholarly attention for three decades, since they started to migrate to work in factories on the coast in the post-1978 Economic Reform era. As western and central China has developed and work opportunities have arisen in these migrant-sending regions, internal migrants have started to return home. Push and pull factors of internal migration have been reversed. Poverty and lack of job opportunities used to be the push factors; they are now replaced by new push factors—long hours of work and long-distance travel to and from the …

Making The Gigantic Suburban Residential Complex In Beijing: Political Economy Processes And Everyday Life In The 2010s, Pengfei Li

Dissertations, Theses, and Capstone Projects

Suburbanization is an ongoing development process in China. Hundreds of thousands of construction projects are being undertaken in outskirts of most Chinese cities, despite the increasing domestic and international concerns over China’s housing oversupply (Xu, 2010; Gough, 2015; Li, 2015). The suburbanization of China, however, is fundamentally different from the suburbanization of most Western countries, especially the United States, whose massive post-war suburbanization took place as a continuation of its pre-war industrialization and urbanization movements. In the Chinese context, suburbanization is the process of urbanization as well—urbanization and suburbanization have been promoted simultaneously since the 1990s. It is …

The Impact Of Monetary Policy On Banks’ Risk-Taking: Evidence From The Post Crisis Data, Nardos Moges Beyene

The Hilltop Review

This study investigates if expansionary monetary policy actions have an impact on banks’ risk taking after the financial crisis. Using time series data from December 2008 to April 2016 from the banking sector, the paper finds no evidence of any impact by asset related expansionary monetary policy actions while credit crunch and expected economic conditions are found to have a significant effect on banks’ risk taking decision. These results imply that the risk-taking channel of monetary policy has been ineffective after the fed funds rate reached the zero lower bound.

Asean In 2025, Singapore Management University

Perspectives@SMU

Will ASEAN ever progress beyond being a forum to discuss, and sometimes settle, differences?

China’S Pearl River Delta Development: A Game Changer For Hong Kong, Singapore Management University

Perspectives@SMU

“Hong Kong government has to think out of the box and take initiative to lead Hong Kong to break the bottle neck in economy development,” said Dr. Fang Zhou, Research Director of One Country Two Systems Research Institute (OCTSRI), a non-government public policy think tank in Hong Kong, at a seminar organized by Lau Chor Tak Institute of Global Economics and Finance at the Chinese University of Hong Kong in November 2016.

Are Child Care Worker Wages Impacted By The Forces Of Supply And Demand? An Examination Of State-Level Data, Carolyn Arcand

Political Science

No abstract provided.

Rhode Island Current Conditions Index -- June 2017, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Deflation And Consumer Expenditures, Ali M. Reza

Faculty Publications

One often hears that one reason deflation should be avoided is because it leads to the expectation of lower prices in the future on the part of consumers. This in turn causes consumers to defer their spending. The consequence of this is reduced demand for products and lower investment by firms now. The net result is weaker economic activity. This paper provides a new approach to verify this view.

The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell

Middle Eastern Communities and Migrations Student Research Paper Series

The inflationary pressures of the Price Revolution had an impact on Ottoman agricultural organization, state finances, industry, and the growth of corruption. This analysis will examine the causes, effects, and scope of inflation in the sixteenth century. Inflation alone did not cause these drastic changes, as other very significant developments also contributed to the turbulent economic environment. However inflation did, in fact, influence many basic transformations, including shifts in wealth, power, and the enrichment of specific social classes at the expense of others.

Carlton, Or: Economic And Demographic Profile, Portland State University. Northwest Economic Research Center

Northwest Economic Research Center Publications and Reports

The Carlton Post Office was founded in 1874 along the railroad stretching from Portland to the unincorporated settlement known as St. Joe’s. According to local lore, a Mr. Wilson Carl traveled to the big city to ask for an intermediate stop in what became known as Carl’s town, and later Carlton. Located in the heart of Yamhill County, Carlton enjoys a lively tourism industry for a town of its size, buoyed up by the proliferation of farms and wineries that the mild climate invites.

Carlton is a small town, with a population of just over two thousand. It had a …

Data-Driven Public Diplomacy: A Critical And Reflexive Assessment, Hamilton Bean, Edward Comor

FIMS Publications

This essay presents a critical and reflexive assessment of contemporary efforts

to innovate the measurement and evaluation of public diplomacy. Analyzing a

recent and pivotal report called “Data-Driven Public Diplomacy,” it explains

how the institutional and ideological residue of the Cold War underwrites

these initiatives in the context of American activities in its contemporary “War

on Terror.” Inspired by Marx’s concept of the fetish—n under-represented

conceptual approach to public diplomacy research—he authors critique

the thinking of public diplomacy scholars and officials, arguing that both an

omnipresent past and a powerful form of technological fetishism are discernible

in the “Data-Driven Public …

Does Government Health Insurance Reduce Job Lock And Job Push?, Scott Barkowski

Publications

I study job lock and job push, the twin phenomena believed to be caused by employment-contingent health insurance (ECHI). Using variation in Medicaid eligibility among house-hold members of male workers as a proxy for shifts in workers dependence on employment for health insurance, I estimate large job lock and job push effects. For married workers, Medicaid eligibility for one household member results in an increase in the likelihood of a voluntary job exit over a four-month period by approximately 34%. For job push, the transition rate into jobs with ECHI among all workers falls on average by 26%.

Nominal Exchange Rate Dynamics For The Taka, Thomas M. Fullerton Jr., Dipanwita Barai, Adam G. Walke

Departmental Papers (E & F)

Error correction modeling is used to model the nominal exchange rate for the Bangladeshi taka. Based on existing trade volumes and trade practices, the bilateral exchange rate of the taka with the dollar is analyzed. Annual frequency data are utilized for the study. The sample data cover the four decade period from 1976 to 2015. Results indicate that a balance of payments modeling approach performs more reliably than a monetary balances approach.

Quantum Ideas In Economics Beyond Quantum Econometrics, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta

Departmental Technical Reports (CS)

It is known that computational methods developed for solving equations of quantum physics can be successfully applied to solve economic problems; there is a whole related research area called quantum econometrics. Current quantum econometrics techniques are based on a purely mathematical similarity between the corresponding equations, without any attempt to relate the underlying ideas. We believe that the fact that quantum equations can be successfully applied in economics indicates that there is a deeper relation between these areas, beyond a mathematical similarity. In this paper, we show that there is indeed a deep relation between the main ideas of …

Balance Sheet Effects On Monetary And Financial Spillovers: The East Asian Crisis Plus 20, Joshua Aizenman, Menzie D. Chinn, Hiro Ito

Economics Faculty Publications and Presentations

We study how the financial conditions in the Center Economies [the U.S., Japan, and the Euro area] impact other countries over the period 1986 through 2015. Our methodology relies upon a two-step approach. We focus on five possible linkages between the center economies (CEs) and the non-Center economics, or peripheral economies (PHs), and investigate the strength of these linkages. For each of the five linkages, we first regress a financial variable of the PHs on financial variables of the CEs while controlling for global factors. Next, we examine the determinants of sensitivity to the CEs as a function of country-specific …

Testing Validity Of Observed Indicators Of Local Content Policy In Nigeria: Evidence From Four-Factor Measurement Model, Abdulkabir N. Adedeji, Muhammad O. Lawan, Shaufiq F. Sidique

CBN Journal of Applied Statistics (JAS)

This paper tests validity property of the indicators that measured local content policy (LCP) in Nigeria’s oil sector. Survey data were obtained for the test, using confirmatory factor analysis (CFA) method. The results obtained from a four-factor measurement model confirmed the LCP indicators to be valid. This reflects that the policy can achieve its developmental targets on local value creation with particular reference to increased local firms’ participation, backward linkages, and job creation in Nigeria’s oil sector. Hence, government should focus on effective implementation and compliance of the policy rather than “labour clause” as contained in the local content Act. …

The Impact Of Trade On Economic Growth In Ecowas Countries: Evidence From Panel Data, Milton Iyoha, Ajan Okim

CBN Journal of Applied Statistics (JAS)

The poor economic performance and growth of ECOWAS economies have become so challenging and this has necessitated research and discussions. Experts have argued that the relationship between trade and economic growth in the ECOWAS region is unclear and the question of whether trade promotes growth and development is controversial. In this paper, an attempt is made to analyse the impact of trade on economic growth both from a theoretical perspective and using econometric evidence from ECOWAS countries. In particular, an attempt is made to econometrically test the hypothesis of a positive relationship between trade and growth in ECOWAS countries during …

An Application Of Asymmetric Garch Models On Volatility Of Banks Equity In Nigeria’S Stock Market, Omorogbe J. Asemota, Uchenna C. Ekejiuba

CBN Journal of Applied Statistics (JAS)

This paper examines the volatility of banks equity weekly returns for six banks (coded B1 to B6) using GARCH models. Results reveal the presence of ARCH effect in B2 and B3 equity returns. In addition, the estimated models could not find evidence of leverage effect. On evaluating the estimated models using standard criteria, EGARCH (1, 1) and CGARCH (1, 1) model in Student’s t-distribution are adjudged the best volatility models for B2 and B3 respectively. The study recommends that in modelling stock market volatility, variants of GARCH models and alternative error distribution should be considered for robustness of results. We …

Modelling Inflation Rate Volatility In Nigeria With Structural Breaks, Ismail O. Fasanya, Oluwasegun B. Adekoya

CBN Journal of Applied Statistics (JAS)

This study compares the performance of GARCH-Type models in modelling inflation volatility in Nigeria covering the period 1995M01 to 2016M10. In the paper, we provide two main innovations: (i) we analyze inflation rate of two pronounced consumer prices indices namely headline and core consumer price indices using the Augmented DickeyFuller break point test which allow for structural breaks in the data series; and (ii) the method is modified to include both symmetric and asymmetric volatility models. The empirical examination observes evidence of volatility persistence in the consumer price indices, but only headline is consistent with leverage effects. Thus, applying one-modelfits-all …

Agricultural Sector Credit And Output Relationship In Nigeria: Evidence From Nonlinear Ardl1, Oloronsola E. Olowofeso, Adeyemi A. Adeboye, Valli T. Adejo, Kufre J. Bassey, Ochoche Abraham

CBN Journal of Applied Statistics (JAS)

This paper investigates the relationship between credit to agriculture and agricultural output in Nigeria by means of nonlinear autoregressive distributed lag (NARDL) model using a time series data from 1992Q1 to 2015Q4. Results show no evidence of asymmetry in the impact of credit to output growth in the agricultural sector (positive and negative changes) in the short-run, but different equilibrium relationships exist in the long-run. The dynamic adjustments show that the cumulative agricultural output growth is mostly attracted by the impact of the positive changes in credit to agriculture with a lag of four quarters of the prediction horizon. This …

Exploring The Questionable Academic Practice Of Conference Paper Double Dipping, Krista B. Lewellyn, William Q. Judge, Adam Smith

Management Faculty Publications

We develop a conceptual framework and provide empirical evidence that helps to explain why management scholars submit the same paper to more than one scholarly conference, a practice referred to as "double dipping." Drawing from general strain theory,we find that certain features of the social and national institutional context in which these scholars are embedded provides motivation for and facilitates rationalization of engagement in the double-dipping practice. Specifically, our results show that the incidence of conference paper double dipping is greater for junior scholars and for those currently affiliated with research-intensive universities. We also find that authors who received their …

The Growth Of Government, Trust In Government, And Evidence On Their Coevolution, Steven Gordon, John Garen, J. R. Clark

Institute for the Study of Free Enterprise Working Papers

The coevolution of trust in government alongside the growth of government is an aspect of the latter topic that has not been explored. Moreover, trust is viewed as part of social capital, facilitating social and economic transactions and the governance of society, and its decline has caused concern. We consider this coevolution in the context of a political economy model and a public interest view of government growth, incorporating the role of trust in government. Though a negative association of the growth in government with trust in government is broadly consistent with the historical data since the late 1950s, we …

Socialism Revised, John E. Roemer

Cowles Foundation Discussion Papers

Marxists have viewed the task of socialism as the elimination of exploitation, defined in the Marxian manner in terms the excess of labor expended over of labor commanded. I argue that the concept of Marxian exploitation commits both type-one (false positives) and type-two (false negatives) errors as a diagnosis of distributive injustice: it misses instances of distributive injustice because they do not involve exploitation, and it calls some economic relations characterized by exploitation unjust when they are not. The most important reformulators of Marx’s concept of socialism, which implicitly or explicitly attempt to correct the Marxian errors, are Oscar Lange, …

Dynamic Random Utility, Mira Frick, Ryota Iijima, Tomasz Strzalecki

Cowles Foundation Discussion Papers

Under dynamic random utility, an agent (or population of agents) solves a dynamic decision problem subject to evolving private information. We analyze the fully general and non-parametric model, axiomatically characterizing the implied dynamic stochastic choice behavior. A key new feature relative to static or i.i.d. versions of the model is that when private information displays serial correlation, choices appear history dependent: different sequences of past choices reflect different private information of the agent, and hence typically lead to different distributions of current choices. Our axiomatization imposes discipline on the form of history dependence that can arise under arbitrary serial correlation. …

The Best And Worst Of All Possible Worlds: Some Crude Evaluations, Martin Shubik, Michael R. Powers

Cowles Foundation Discussion Papers

The 2 x 2 matrix game plays a central role in the teaching and exposition of game theory. It is also the source of much experimentation and research in political science, social psychology, biology and other disciplines. This brief paper is addressed to answering one intuitively simple question without going into the many subtle qualifications that are there. How efficient is the non-cooperative equilibrium? This is part of a series of several papers that address many of the qualifications concerning the uses of the 2 x 2 matrix games.

A Design For Market Socialism, John E. Roemer

Cowles Foundation Discussion Papers

Socialism is conceptualized as a society in which individuals cooperate, distinguished from capitalism, characterized as involving ubiquitous economic competition. Here, I embed a formal model of cooperation in an Arrow-Debreu model, using the Kantian optimization protocol, and define a Walras-Kant equilibrium, in which firms maximize profits, consumers choose demands for commodities in the usual utilitymaximizing fashion, and the state rents capital to firms. The labor-supply decision of workers, however, is arrived at using the cooperative protocol. Incomes are redistributed through a flat income tax. Walras-Kant equilibria, with any desired degree of income equality exist, are decentralizable, and are Pareto efficient.

Dynamic Random Utility, Mira Frick, Ryota Iijima, Tomasz Strzalecki

Cowles Foundation Discussion Papers

We provide an axiomatic analysis of dynamic random utility, characterizing the stochastic choice behavior of agents who solve dynamic decision problems by maximizing some stochastic process (U_t) of utilities. We show first that even when (U_t) is arbitrary, dynamic random utility imposes new testable restrictions on how behavior across periods is related, over and above period-by-period analogs of the static random utility axioms: An important feature of dynamic random utility is that behavior may appear history dependent, because past choices reveal information about agents’ past utilities and (U_t) may be serially correlated; however, our key new axioms highlight that the …

Assessing Systemic Risk In The Nigerian Interbank Money Market, M. Nakorji, P. Ekeocha, C. Nwosu, P. Obikaonu

Economic and Financial Review

The interbank market is an important platform for strengthening financial integration. It also represents a medium for risk sharing among banks through the linkages and common exposures. Exposure between banks leads to a direct asset relation through borrowing from each other at the interbank market while banks are associated indirectly through ownership and sharing of similar portfolio exposures, that connects them, through a web of transaction network. The paper analysed the systemic risk implied in the Nigerian interbank network, based on various network measures using data on individual banks' bilateral exposures. The findings showed that few banks featured prominently in …

Macroeconomic Instability Index And Threshold For The Nigerian Economy, B. A. G. Amoo, J. K. Achua, N. P. Audu, B. Hamma

Economic and Financial Review

The paper employed statistical algorithms, factor analysis and threshold autoregressive models to address the gaps in management of macroeconomic instability in Nigeria. Using data spanning 2010q1 to 2017q2, the findings showed that the values of macroeconomic instability index (MII) fluctuated between 0.316 and 0.609, with a threshold of 0.461. This showed an inverse relationship between macroeconomic instability and economic growth. This framework could serve as a mechanism to gauge early warning signal of instability in Nigeria.