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2018

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Articles 1111 - 1140 of 1742

Full-Text Articles in Economics

Idiosyncratic Risk And Returns: The Case For A More Efficient Class Of Estimators, Mohinder Parkash, Rajeev Singhal, Yun Ellen Zhu Mar 2018

Idiosyncratic Risk And Returns: The Case For A More Efficient Class Of Estimators, Mohinder Parkash, Rajeev Singhal, Yun Ellen Zhu

International Review of Business and Economics

Volatility is a key input into many important financial decisions. Therefore, accurateforecast of volatility plays animportant role in making these decisions. Typically, volatility is forecast using realized volatility computed from closing stock prices. Employing expectation of volatilitiessuch calculated, several papers find that expected idiosyncratic risk is positively associated with contemporaneous returns. Yang and Zhang [2000] show that estimators belonging to the class of range-based estimators are more efficient than the estimators derived only from closing prices. Using the more efficient range-based volatility estimates, we find no evidence to support the hypothesis that idiosyncratic risk explains returns.

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Understanding Hiv/Aids In The African Context, Eileen Stillwaggon, Larry Sawers Mar 2018

Understanding Hiv/Aids In The African Context, Eileen Stillwaggon, Larry Sawers

Economics Faculty Publications

This book of readings is intended for courses in Global Health. The editors asked Prof. Stillwaggon to contribute a chapter summarizing her years of work on the spread of HIV/AIDS in populations among whom bacterial, fungal, parasitic, and viral diseases are extremely common, particularly in sub-Saharan Africa. Her work has demonstrated that differences in behavior cannot explain differences in HIV rates between world regions.

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Reflections On A Liberal Arts Education: Part Iii, Michael Hemesath Mar 2018

Reflections On A Liberal Arts Education: Part Iii, Michael Hemesath

Administration Publications

No abstract provided.

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2018 Updated Tables And Figures For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters Mar 2018

2018 Updated Tables And Figures For Ec 845 Nebraska Cash Soybean Prices And Basis Patterns, Jessica J. Groskopf, Cory Walters

Extension Farm and Ranch Management News

No abstract provided.

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Migration From Mexico To The Us: The Impacts Of Nafta On Mexico And The United States And What To Do Going Forward, Ashley A. Elsasser Mar 2018

Migration From Mexico To The Us: The Impacts Of Nafta On Mexico And The United States And What To Do Going Forward, Ashley A. Elsasser

International Review of Business and Economics

Research indicates four main causes for migration from Mexico to the United States: Incredibly high crime rates, unemployment, poverty rates, and natural disasters. The first two are especially important in regards to trade between the two border sharing countries. Since agreeing to virtually total free trade, the United States has been able to take advantage of Mexico in such a way that has created further deterioration of the state. If the government of Mexico cannot resurrect the thousands of personal business that were effected do to NAFTA, the U.S. cannot expect for migration from Mexico to deteriorate or halt. By …

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Co-Integration Between Savings And Investment In India And The Us: An Econometric Analysis Of Feldstein-Horioka Hypothesis, Narender Thakur Ph.D., Vishnu Das Gupta Mar 2018

Co-Integration Between Savings And Investment In India And The Us: An Econometric Analysis Of Feldstein-Horioka Hypothesis, Narender Thakur Ph.D., Vishnu Das Gupta

International Review of Business and Economics

This paper econometrically tests the Feldstein-Horioka hypotheses. It uses the domestic savings and domestic investments variables in India and the US in the period 1960- 2014. The Feldstein-Horioka hypotheses states that the cointegration relationship between domestic savings and domestic investments weakens in a country with higher foreign capital mobility and vice-versa. We find that the co-integration relation between the two time-series variables is weakened in the case of the US economy as compared to the Indian economy. These results have policy implications for India as it is opening itself up more to inward foreign investment.

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Democratizing Innovation: How Consumer Electronics Is Revolutionizing Rocketscience, Abhith Pallegar Mar 2018

Democratizing Innovation: How Consumer Electronics Is Revolutionizing Rocketscience, Abhith Pallegar

International Review of Business and Economics

The traditional flow of cutting-edge technologies observed over the last 100 years was from government supported defense space to its broader application in the civilian domain. We have seen technology flow into consumer products years after its introduction in defense applications. Most common examples of this movement were the invention and incubation of the Internet and Global Positioning System in prestigious national labs, which later trickled down to benefit millions. But there seems to be a shift in the tide of innovation where consumer market has been influential in developing a range of technologies which have flown the other way …

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Corporate Governance And Accounting Information Disclosure In The Nigerian Banking Sector, Igbekoyi Olusola Esther, Agbaje Wale Henry Mar 2018

Corporate Governance And Accounting Information Disclosure In The Nigerian Banking Sector, Igbekoyi Olusola Esther, Agbaje Wale Henry

International Review of Business and Economics

The study examine the effect of corporate governance on the quality of accounting information disclosed in Nigerian banks. The study covers banks that are quoted in the Nigeria Stock Exchange. Data were collected from secondary sources using the annual reports and factbook of selected banks during the period of 2006-2015. Data collected were analyzed using statistical tools; unit root, co-integration and error correction model. The corporate governance indices used in the study include; Audit committee meeting (ACM), Audit committee qualification (ACQ), Board size (BS), Directors in audit committee (DAC), Ownership structure (OS) and Corporate board members (CBM). The study revealed …

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India's Higher Educator Sector: Challenges And Opportunities, Anand Kulkarni Mar 2018

India's Higher Educator Sector: Challenges And Opportunities, Anand Kulkarni

International Review of Business and Economics

For both developed and emerging economies, knowledge and innovation will increasingly drive competitive advantage, according to a great deal of analysis conducted by the OECD and other Institutions. Higher Education is a key component of future competitive advantage in the knowledge and innovation spheres. This paper will examine the challenges and opportunities for the Indian Higher Education Sector, as it grapples with meeting the needs of a changing economy, and providing access and opportunity for millions of its population. Drawing on a variety of data sources and benchmarking India against a number of nations around the world, this paper contends …

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An Analysis Of Aircraft Operating And Support Cost Element Structures, Garrett B. O'Hanlon Mar 2018

An Analysis Of Aircraft Operating And Support Cost Element Structures, Garrett B. O'Hanlon

Theses and Dissertations

As the cost of DoD Weapon Systems continue to increase, the ability to more accurately predict the Operating and Support (O&S) costs for the various weapon systems has become more vital for long run affordability. The investigation into the O&S arena has been overshadowed by the research and development (R&D) and acquisition fields. This research focuses on the O&S portion of the total life cycle costs, specifically the OSD-CAPE Cost Element Structure (CES) elements and sub-elements. The research investigates seven categories of 52 aircrafts and their cost expenditures within the CES from the years 1996-2016. The first portion of the …

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A Theory Of Cooperation In Games With An Application To Market Socialism, John E. Roemer Mar 2018

A Theory Of Cooperation In Games With An Application To Market Socialism, John E. Roemer

Cowles Foundation Discussion Papers

Economic theory has focused almost exclusively on how humans compete with each other in their economic activity, culminating in general equilibrium (Walras) and game theory (Nash). Cooperation in economic activity is, however, important, and is virtually ignored. Because our models influence our view of the world, this theoretical lacuna biases economists’ interpretation of economic behavior. Here, I propose models that provide micro-foundations for how cooperation is decentralized by economic agents. It is wrong, in particular, to view competition as decentralized and cooperation as organized only by central diktat. My approach is not to alter preferences, which is the strategy behavioral …

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Explaining The Slow U.S.Recovery: 2010–2017, Ray C. Fair Mar 2018

Explaining The Slow U.S.Recovery: 2010–2017, Ray C. Fair

Cowles Foundation Discussion Papers

This paper argues that the slow U.S. recovery after the 2008–2009 recession was due to sluggish government spending. The analysis uses a structural macroeconometric model. Conditional on government policy, the errors in predicting output for the 2009.4–2017.4 period are within what one would expect historically. Productivity and labor force participation are endogenous variables in the model, and so their behavior in this period is a consequence of the slow growth rather than a cause.

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Intuitive Solutions In Game Representations: The Shapley Value Revisited, Pradeep Dubey Mar 2018

Intuitive Solutions In Game Representations: The Shapley Value Revisited, Pradeep Dubey

Cowles Foundation Discussion Papers

We show that any transferable utility game can be represented by an assignment of facilities to players, in which it is intuitively obvious how to allocate the total cost of the facilities. The intuitive solution in the representation turns out to be the Shapley value of the game, and thus serves as an alternative justification of the value.

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When Salespeople Manage Customer Relationships: Multidimensional Incentives And Private Information, Minkyung Kim, K. Sudhir, Kosuke Uetake, Rodrigo Canales Mar 2018

When Salespeople Manage Customer Relationships: Multidimensional Incentives And Private Information, Minkyung Kim, K. Sudhir, Kosuke Uetake, Rodrigo Canales

Cowles Foundation Discussion Papers

At many firms, incentivized salespeople with private information about customers are responsible for CRM. While incentives motivate sales performance, private information can induce moral hazard by salespeople to gain compensation at the expense of the firm. We investigate the sales performance–moral hazard tradeoff in response to multidimensional performance (acquisition and maintenance) incentives in the presence of private information. Using unique panel data on customer loan acquisition and repayments linked to salespeople from a microfinance bank, we detect evidence of salesperson private information. Acquisition incentives induce salesperson moral hazard leading to adverse customer selection, but maintenance incentives moderate it as salespeople …

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The Hidden Benefits Of Abstaining From Control, Gabriel Burdin, Simon Halliday, Fabio Landini Mar 2018

The Hidden Benefits Of Abstaining From Control, Gabriel Burdin, Simon Halliday, Fabio Landini

Economics: Faculty Publications

This paper studies the role of negative reciprocity, positive reciprocity and preferences for autonomy in explaining agents’ reactions to control in experimental principal-agent games. While most of the social psychology literature emphasizes the role of autonomy, recent economic research has provided an alternative explanation based on reciprocity. To understand the behavioral mechanisms underlying such reactions, we conduct an experiment in which we compare two treatments: one in which control is exerted directly by the principal; and the other in which it is exerted by a third party enjoying no residual claimancy rights (third-party control). The results indicate that when either …

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Between Commerce And Empire: David Hume, Colonial Slavery, And Commercial Incivility, Onur Ulas Ince Mar 2018

Between Commerce And Empire: David Hume, Colonial Slavery, And Commercial Incivility, Onur Ulas Ince

Research Collection School of Social Sciences

Eighteenth-century Enlightenment thought has recently been reclaimed as arobust, albeit short-lived, cosmopolitan critique of European imperialism. Thisessay complicates this interpretation through a study of David Hume’s reflectionson commerce, empire, and slavery. I argue that while Hume condemned thecolonial system of monopoly, war, and conquest, his strictures against empiredid not extend to colonial slavery in the Atlantic. This was because colonialslavery represented a manifestly uncivilinstitution when judged by enlightened metropolitan sensibilities, yet also adecisively commercial institutionpivotal to the eighteenth-century global economy. Confronted by the paradoxical“commercial incivility” of modern slavery, Hume opted for disavowing the linkbetween slavery and commerce, and confined his …

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Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule Mar 2018

Monetary Policy Management In Nigeria Today: Issues In Stagflation And Recession, Moses K. Tule

Bullion

This article explore the rare and challenging economic problem faced by Nigeria refers to as stagflation. i.e. a condition characterized by the co-existence of declining growth rates along with high unemployment and inflation rates. These negative economic development have raised major concern for policy makers and other economic agents because of the adverse effects on investment, financial stability and livelihood.

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Premium Motor Spirit (Pms) Subsidy Removal : Its Potential Impacts For The Nigerian Economy, Bandele A. G. Amoo, Williams J. Kanya, Margaret J. Hilili, Al-Hassan I. Uba Mar 2018

Premium Motor Spirit (Pms) Subsidy Removal : Its Potential Impacts For The Nigerian Economy, Bandele A. G. Amoo, Williams J. Kanya, Margaret J. Hilili, Al-Hassan I. Uba

Bullion

Subsidy payments on premium motor spirit (PMS) in Nigeria have impacted significantly on revenue of the government over the years. The tempo has been on the upward trend over time, resulting in fiscal concerns necessitating immediate government attention. The economy suffered operational challenges, leading to loss of huge revenue. several suggestion on how to address the issue have been provided by various governments over the years, but a permanent solution to the problem are yet to be achieved. thus, this paper reviews the issues and found that, beyond the revenue concern to the government, importing PMS into Nigeria takes about …

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Enhancing Institutional Lending To The Agricultural Sector By Derisking The Value Chain: The Case Of Nigerian Incentive Based Risk Sharing System For Agricultural Lending (Nirsal), Ishaku Mikloda Polycarp Mar 2018

Enhancing Institutional Lending To The Agricultural Sector By Derisking The Value Chain: The Case Of Nigerian Incentive Based Risk Sharing System For Agricultural Lending (Nirsal), Ishaku Mikloda Polycarp

Bullion

There is no gainsaying that agriculture is one of the most important sectors in the Nigerian economy as it employs at least 60% of Nigerians and contributes up to 23.11% of the country's GDP. The performance of the agricultural sector has not been encouraging over the years, resulting in the importation of over N 1.0 trillion in wheat, rice, sugar and fish. Policy responses towards channeling financial resources to the agricultural sector in Nigeria have a long history through government and CBN sponsored programmes. Among CBN intervention schemes is the Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL). It …

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Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor Mar 2018

Geopolitical Tensions, Crude Oil Price And Output Dynamics: Implications For Fiscal Governance In Nigeria, Harrison O. Okafor

Bullion

This paper examined the linkages between geopolitical tensions, crude oil prices and oil output dynamics vis-a-vis the implication for fiscal governance in Nigeria. within a strategic game theoretical framework, anchored on moral hazard assumptions (incentive problem) and applying VAR model, findings indicate that geopolitical tensions affects Nigeria's bonny light crude oil price and export. Results also revealed that the timing and impact of geopolitical tensions last fairly long thus, could affect fiscal revenue and economic governance in Nigeria. Therefore, the paper recommends a complete diversification of the economy from oil will strengthen the nation's fiscal space and development planning.

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Understanding Economic Recession, The Role And Limitations Of Monetary Policy In Recovery, Mustapha Adewale Adigun Mar 2018

Understanding Economic Recession, The Role And Limitations Of Monetary Policy In Recovery, Mustapha Adewale Adigun

Bullion

This article examines the causes and effect of economic recession, highlights the role of monetary policy in economic recovery from a recession and proposes appropriate policy options to address the menace of recession with a view to promote economic recovery. Following the introduction, section 2 addresses the definition, causes, features and brief history, section 3 discuss recent economic recession in Nigeria, section 4 highlights the role of monetary policy and section 5 concludes the paper.

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Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi Mar 2018

Fintech As A Tool For Promoting Financial Inclusion And Economic Development In Nigeria, Mayowa O. Agbelusi

Bullion

In Nigeria, 67% of the population lives below the poverty line. Access to basic financial services can make a significant difference in reducing poverty and financial technology has been used to enhance the provision of financial services to the poor and unbanked in sub-Saharan Africa. This paper seeks to highlight the nexus between financial inclusion and financial technology as well as how it can help reduce poverty in Nigeria.

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Tests Of Racial Discrimination In A Simple Financial Market: Managers In Major League Baseball, Rodney Paul, Andrew Weinbach, Justin Mattingly Mar 2018

Tests Of Racial Discrimination In A Simple Financial Market: Managers In Major League Baseball, Rodney Paul, Andrew Weinbach, Justin Mattingly

Finance and Economics

This study tests for racial discrimination against minority managers in Major League Baseball using financial-market imbalances as it relates to the wagering marketplace for the sport. Using detailed betting data on the percentage bet on the favorite from Sports Insights, we test for prejudice against minority mangers using an ordinary least squares multiple regression model. The results reveal that bettors have a clear preference for the favored team as the percentage bet on the favorite increases with the odds on the favorite. In addition, they prefer road favorites by an even greater margin. In terms of minority managers, there is …

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Borderplex Business Barometer, Volume 2, Number 3, Thomas M. Fullerton Jr., Adam G. Walke, Omar Solís, Esmeralda P. Muñiz Mar 2018

Borderplex Business Barometer, Volume 2, Number 3, Thomas M. Fullerton Jr., Adam G. Walke, Omar Solís, Esmeralda P. Muñiz

Border Region Modeling Project

No abstract provided.

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Reply To Dr. Chris Gousmett's Open Letter, Sacha Walicord Mar 2018

Reply To Dr. Chris Gousmett's Open Letter, Sacha Walicord

Pro Rege

No abstract provided.

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Institutions: Key Variable For Economic Development In Latin America, Andre Vianna, André Varella Mollick Mar 2018

Institutions: Key Variable For Economic Development In Latin America, Andre Vianna, André Varella Mollick

School of Economics and Finance Faculty Publications

This article examines economic development from 1996 to 2015 for 192 countries and specifically Latin America. Evidence shows that each 0.1-point increase in institutions impacts a 3.9% improvement in Latin American per capita output versus a 2.6% effect on world development. This new evidence from Latin America shows a missing opportunity to develop at higher annual pace than the 2.14% average, mainly due to the deterioration in rule of law. We conjecture the efficiency of monetary/fiscal policies will improve if policymakers emphasize projects that foster improvements to institutional quality, such as transparency, public spending quality and fiscal responsibility.

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Unicorns, Guardians, And The Concentration Of The U.S. Equity Markets, Amy Deen Westbrook, David A. Westbrook Mar 2018

Unicorns, Guardians, And The Concentration Of The U.S. Equity Markets, Amy Deen Westbrook, David A. Westbrook

Journal Articles

No abstract provided.

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Entrepreneurial Discovery Capital, Raymond C. Niles Mar 2018

Entrepreneurial Discovery Capital, Raymond C. Niles

School of Business and Leadership Working Papers

This paper identifies how capital losses are unavoidably incurred in the discovery of viable entrepreneurial ventures. Losses are proportional to the novelty and perceived profit potential of a prospective venture, exemplified by the high risk/high return nature of high technology start-ups. Venture capitalists internalize the costs and benefits of this discovery process, and set up portfolios where the majority of funded ventures unavoidably fail or earn subpar returns. They incur these losses in order to discover the one Winner venture whose outsize returns will compensate for the capital losses in the failed ventures. The investment in failing ventures is unavoidable …

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State Medicaid Fees And Access To Primary Care Physicians, Rajiv Sharma, Sarah E. Tinkler, Arnab Mitra, Sudeshna Pal, Raven Susu-Mago Mar 2018

State Medicaid Fees And Access To Primary Care Physicians, Rajiv Sharma, Sarah E. Tinkler, Arnab Mitra, Sudeshna Pal, Raven Susu-Mago

Economics Faculty Publications and Presentations

Medicaid and uninsured patients are disadvantaged in access to care and are disproportionately Black and Hispanic. Using a national audit of primary care physicians, we examine the relationship between state Medicaid fees for primary care services and access for Medicaid, Medicare, uninsured, and privately insured patients who differ by race/ethnicity and sex. We found that states with higher Medicaid fees had higher probabilities of appointment offers and shorter wait times for Medicaid patients, and lower probabilities of appointment offers and longer wait times for uninsured patients. Appointment offers and wait times for Medicare and privately insured patients were unaffected by …

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Who Benefits From Economic Development Incentives? How Incentive Effects On Local Incomes And The Income Distribution Vary With Different Assumptions About Incentive Policy And The Local Economy, Timothy J. Bartik Mar 2018

Who Benefits From Economic Development Incentives? How Incentive Effects On Local Incomes And The Income Distribution Vary With Different Assumptions About Incentive Policy And The Local Economy, Timothy J. Bartik

Upjohn Institute Technical Reports

This report presents results from a simulation model that examines the effects of economic development incentives (e.g., tax incentives such as property tax abatements or job creation tax credits) provided to businesses by state and local governments in the United States. The model simulates effects of incentive policies on the incomes of local residents, both for different income types (e.g., labor income versus property income) and for different income quintiles, under different assumptions about the economy’s workings and public policy. Net benefits of incentives for local incomes are greater if the incentives have greater job-creation effects conditional on their effects …

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