Economics Commons^™

Dynamics Of Tobin’S Q And Us Stock Performance, Matiur Rahman, Muhammad Mustafa

International Review of Business and Economics

To study the dynamic effects of changes in Tobin’Q on stock prices of selected 249 US public companies of different industry categories. Panel unit roots tests and cointegration tests are implemented. Next, DOLS and GMM models are estimated. Annual data for the 2004-2012 period are used for the above selected US companies. Panel unit root tests provide somewhat mixed evidence of non-stationarity of both variables. There is clear evidence of cointegration between the above variables. The negative coefficient of the error-correction term shows convergence toward long-run equilibrium, though at slow pace. The estimates also reveal shortrun net positive interactive feedback …

The Hubbert Curve And Rare Earth Elements Production, Zachary Gann

International Review of Business and Economics

This paper intends to apply the Hubbert curve to the production of rare earth elements by the United States, China, and total global production. The goal of this research is to see if the production of rare earth elements follows the predicted production forecasted by the Hubbert curve and to observe if the curve can create usable predictions of future production. Global demand for rare earth elements has drastically increased in the modern era due to their unique properties. Global production has increased as well to meet this increased demand. Rare earth elements are a collection of seventeen chemical elements …

Retesting The Dual Sector Model In India And Brazil, Jiade Xiao

International Review of Business and Economics

India and Brazil are developing countries and emerging markets, enjoying economic development in the recent decades. The development experience of both countries may provide persuasive evidences in supporting or disapproving the economic theories. Arthur Lewis’ structural-change theory focuses on the transition of economic structure with the character from depending heavily on agricultural sector to the character with more contribution from industrial sector occurring in the developing countries. His model of dual sector, as an important part of the structural-change theory, argues that the labor moving from agricultural sector to industrial sector associated with the migration from rural area to urban …

Detecting Multiple Bubbles And Exuberance In Financial Data: An Extensive Empirical Examination Over Four Major Foreign Indexes, Swarna D. Dutt, Dipak Ghosh

International Review of Business and Economics

History is replete with incidents of financial crisis, which ex-post become a wakeup call for policy makers and the people. But there were no tests which could identify and date financial bubbles in real time, till now. Phillips, Shi and Yu [2015] provides the first and only model to recursively examine for multiple bubbles. Their “flexible window” methodology provides consistent results and has successfully identified the well-known historical episodes of exuberance and collapse. This accuracy provides very useful “warning alerts” to central bankers, fiscal regulators and policy makers to pre-emptively act and possibly eliminate an impending implosion. We extensively examine …

Innovation As A Driving Force For Development Economy Of The Country, S. Zakirova

International Relations: Politics, Economics, Law

For the economy of Uzbekistan at the present stage, it is important to form a socio-economic system in which innovation should play a dominant role as a factor that ensures higher competitive advantages. To conduct a comparative assessment of the innovation activity of different countries, the well-known global innovation index (GII) is used. According to the index, the country's innovativeness is estimated as the ratio of expenditures on innovation in a wide context (institutions, human capital, science, infrastructure, development of the domestic market, state of business) and achieved practical results (development of technology and knowledge economy, creative results ), which …

Characteristics Of Enterprises In Developing Countries Participating In Global Value Chains, S. Azam

International Relations: Politics, Economics, Law

In recent decades, the rapid development of the international division of labor has led to the fact that the production of the same product and related procedures have been carried out by several countries of the world. Due to this, the share of intermediate goods and components, as well as services, is increasing in the structure of world trade. The development of the Internet and ICT has led to the emergence of new activities such as electronic commerce, outsourcing and offshoring. Economic development has become more dependent on innovative technological development, foreign direct investment and the activities of transnational corporations …

The Economic Impact Of The 2018 Spartan Race On The West Virginia Economy, Christiadi, John Deskins

Bureau of Business & Economic Research

No abstract provided.

West Virginia Economic Outlook 2019-2023, Brian Lego, John Deskins, Eric Bowen, Christiadi, Michelle Atkinson

Bureau of Business & Economic Research

West Virginia’s economy enjoyed its strongest year of growth in nearly a decade during 2017, emerging from several years of severe economic weakness. Most of the bounce back in the state’s economy is connected to the energy sector, not only from the increased production of coal and natural gas but also as a result of a massive build-out of new natural gas pipeline infrastructure throughout the state. Growth has broadened to include more of the state’s regions over the past year or so, but the overall magnitude of gains in jobs and output have remained concentrated in just a few …

U.S. Economic Outlook For The Rest Of 2018, Singapore Management University

Perspectives@SMU

Fed rates to inch up as GDP grows but China-U.S. trade war is a major worry

Rhode Island Current Conditions Index -- October 2018, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

2016 Rupee Demonetization (Dn): It’S A Success!, Sudhanva Char

International Review of Business and Economics

The November 2016 Dn of the rupee is a phenomenal event in India’s monetary history with spillovers into every nook and corner of Indian economy, and yet it has hardly received the attention it warrants from economists and other professionals. To better understand the socioeconomic consequences this paper compiles and evaluates the positives and negatives of Dn in spite of challenges in quantifying them. There was uproar at the outset because of the market turmoil notebandi caused, but some twenty months later Indian economy is doing well on the Dn stress test. This is evident in a) the broadening of …

Preferences (Partial Pre-Orders) On Complex Numbers -- In View Of Possible Use In Quantum Econometrics, Songsak Sriboonchitta, Vladik Kreinovich, Olga Kosheleva

Departmental Technical Reports (CS)

In economic application, it is desirable to find an optimal solution -- i.e., a solution which is preferable to any other possible solution. Traditionally, the state of an economic system has been described by real-valued quantities such as profit, unemployment level, etc. For such quantities, preferences correspond to natural order between real numbers: all things being equal, the more profit the better, and the smaller unemployment, the better. Lately, it turned out that to adequately describe economic phenomena, it is often convenient to use complex numbers. From this viewpoint, a natural question is: what are possible orders on complex numbers? …

Kisumu County Hospital Patient Demographic Analysis: Looking Toward Universal Health Coverage, Lauren Scheffey

Independent Study Project (ISP) Collection

Universal health coverage is priority sought after by developed and developing nations alike, and Kenya sits on the list of countries seeking to achieve this goal in the coming years. The definition of “coverage” can vary by country, but three criteria are commonly found in the discussion of UHC globally: access, affordability, and quality. Affordability is determined by the state’s healthcare financing system; quality refers to the services provided by health facilities; and access, at least in part, concerns the geographic placement of health services providers in relation to the population they intend to serve. This geographic element is the …

Gender Performativity And Hegemonic Masculinity In Investment Management, Corina Sheerin, Prof. Margaret Linehan

Dept of Applied Social Science

Purpose

Through an examination of the everyday organisational and social practices, this paper aims to consider gender performativity and hegemonic masculinity within front office investment management. At the core of this research is the need to understand the interactions between gender, power and patriarchy.

Design/methodology/approach

An interpretivist philosophical stance underpins the study. A theory-building approach using 19 semi-structured interviews with investment management employees based in Ireland was undertaken.

Findings

The findings highlight a sector in which gender is performed in line with sectoral expectations, which place men in positions of dominance with hegemonic masculinity inherent. The organisational structures and daily …

The User Rights Database: Measuring The Impact Of Opening Copyright Exceptions, Sean Flynn, Michael Palmedo

Joint PIJIP/TLS Research Paper Series

International and domestic copyright law reform around the world is increasingly focused on how copyright exceptions — a.k.a. “user rights” —should be expanded to promote maximum innovation, creativity, and access to knowledge in the digital age. These efforts are guided by a relatively rich theoretical literature. However, few empirical studies explore the social and economic impact of expanding user rights in the digital era. One reason for this gap has been the absence of a tool measuring the key independent variable – changes in copyright user rights over time and between countries. We are developing such a tool, which we …

Could An Alternative Policy Design Have Produced A Stronger Mortgage Modification Outcome For Hamp?, Sean Macdonald

Publications and Research

This paper conducts a study of the relative effectiveness of the Home Affordable Modification Program (HAMP) - the primary federal mortgage loan modification program - from early 2009 through 2016. It evaluates U.S. Treasury Department and other data sources, and reviews the recent literature on the relative success of the program. The analysis suggests that HAMP’s success rate in modifying mortgage loans was likely constrained by its voluntary design, a structure that enabled lenders and servicers to prioritize the interests of investors in assessing the risks of modification. It then considers the economic issues surrounding the foreclosure issue and presents …

Can Maternity Benefits Have Long-Term Effects On Childbearing? Evidence From Soviet Russia, Olga Malkova

Economics Faculty Publications

This paper quantifies the effects of Russia’s 1981 expansion in maternity benefits on completed childbearing. The program provided one year of partially paid parental leave and a small cash transfer upon a child’s birth. I exploit the program’s two-stage implementation and find evidence that women had more children as a result of the program. Fertility rates rose immediately by 8.2% over twelve months. The increase in fertility rates not only persisted for the ten-year duration of the program, but it reflected large increases in higher-order births to older women who already had children before the program started.

Mind Control In The Post-Colonial State: The Impact Of Foreign Direct Investment In Tertiary Education In Senegal And Jamaica, Janiel Chantae Slowly

Independent Study Project (ISP) Collection

Since the end of 17th to 20th century colonization, Senegal and Jamaica have been victims of the rhetoric of development. The economic, social, and political progress of these nations have always been overshadowed by their categorization as “developing countries”. Yet, this development rhetoric fails to acknowledge not only the wounds of colonization but the more modern manifestations of continued exploitation of these countries often by the same countries that “emancipated” their colonies. Senegal and Jamaica for example, are both dominated by large percentages of young adults, in both cases a large majority of the populations are individuals under the age …

Productivity, Competition, And Empowerment? The Experience Of Pondicherry Fisherwomen In The Context Of Neoliberal Development, Amelia Colliver

Independent Study Project (ISP) Collection

The subject of this study is female fisherwomen from the fishing village of Veerampattinam in Tamil Nadu who have experienced impacts of neoliberal economics in India. Neoliberalism is here defined as a political economic movement that determines the viability of both an individual and a government based on its economic productivity. Populations reliant on traditional livelihoods are not as efficient as mechanized sectors of their industry, and therefore they are often separated from easy access to their livelihoods by neoliberal policies. This is especially true for women, who are frequently left behind in neoliberalism because their work is considered less …

Understanding The Mongolian Tourism Supply Chain: Advantages, Challenges And Improvements, Thomas D’Anieri

Independent Study Project (ISP) Collection

The tourism industry in Mongolia has relatively low levels of regulation and is growing at a high rate despite struggling to increase tourist numbers, yet it still remains comparatively inaccessible to foreigners. Regardless, tourism holds huge potential for sustainable growth in Mongolia if it can be developed responsibly. For foreigners right now, it is difficult compared to other countries to figure out how to travel and find accomodation in a place where the main tourist attraction is a lack of people and an abundance of open space, and the majority of people in these places do not speak English. Furthermore, …

Impact Of Payment Technology Innovations On The Traditional Financial Industry: A Focus On China, Meifeng Yao, He Di, Xianrong Zheng, Xiaobo Xu

Information Technology & Decision Sciences Faculty Publications

With the rapid advent of e-commerce in China, the technological innovation of third-party payment has experienced explosive growth. This important technological innovation, initiated by emerging Internet companies, is helping the traditional financial industry's payment business-represented by commercial banks-expand in both depth and breadth. Meanwhile, there is also a large degree of substitution, competition and crowding out among these banks in terms of the traditional financial industry's basic payment and settlement functions, potential customers, deposit and loan services and traditional intermediary business. This paper explores the impact (episodic and long-term steady-state) of the technological innovation of payment on commercial banks. It …

The Impact Of Foreign Remittances On Poverty In Nepal: A Panel Study Of Household Survey Data, 1996-2011, Udaya R. Wagle, Satis Devkota

Economics & Management Publications

Using data from the longitudinal panel surveys of 1996, 2004, and 2011, this paper examines the dynamics of foreign remittances and their impact on poverty in Nepal. The intent is to explore how foreign remittances have evolved and impacted poverty and economic well-being of households. Focusing on a consistent set of households across the three survey rounds in a balanced panel format helps examine the effect of foreign remittances with appropriate controls. Results from methodologically consistent, random-effects regressions that correct for potential attrition and heterogeneity bias support significant poverty-reducing and, more accurately, economic well-being-enhancing effects of foreign remittances especially when …

Nonlinearities In The Real Exchange Rates: New Evidence From Developed And Developing Countries, Yamin S. Ahmad, Ming Chien Lo, Olena M. Staveley-O'Carroll

Economics Department Working Papers

This paper investigates nonlinearities in the dynamics of real exchange rates. We use Monte Carlo simulations to establish the size properties of the Teräsvirta-Anderson (1992) and the Teräsvirta (1994) test, when the dynamics of the real exchange rate is influenced by an exogenous process. In addition, we examine the modification proposed by Ahmad, Lo and Mykhaylova (2013; Journal of International Economics) to show that the modified nonlinearity test performs much better than the original in both Monte Carlo exercises and in the actual data on 1431 bilateral real exchange rate series. Finally, we investigate the dynamics of the real exchange …

Earnings Per Occupation In East Texas - October 2018, Rod Mabry, Manuel Reyes-Loya, Marilyn Young

Hibbs Newsletter

It’s that time of year—students have headed back to school! This issue of our Hibbs Outlook newsletter focuses on education and its relationship to income. This is one issue you will want to give to your own students, your grandchildren or neighbor children and send to teachers everywhere.

Adaptation Bounds For Confidence Bands Under Self-Similarity, Timothy B. Armstrong

Cowles Foundation Discussion Papers

We derive bounds on the scope for a confidence band to adapt to the unknown regularity of a nonparametric function that is observed with noise, such as a regression function or density, under the self-similarity condition proposed by Gine and Nickl (2010). We find that adaptation can only be achieved up to a term that depends on the choice of the constant used to define self-similarity, and that this term becomes arbitrarily large for conservative choices of the self-similarity constant. We construct a confidence band that achieves this bound, up to a constant term that does not depend on the …

Adaptation Bounds For Confidence Bands Under Self-Similarity, Timothy B. Armstrong

Cowles Foundation Discussion Papers

We derive bounds on the scope for a confidence band to adapt to the unknown regularity of a nonparametric function that is observed with noise, such as a regression function or density, under the self-similarity condition proposed by Gine and Nickl (2010). We find that adaptation can only be achieved up to a term that depends on the choice of the constant used to define self-similarity, and that this term becomes arbitrarily large for conservative choices of the self-similarity constant. We construct a confidence band that achieves this bound, up to a constant term that does not depend on the …

Borderplex Business Barometer, Volume 2, Number 10, Thomas M. Fullerton Jr., Omar Solís, Esmeralda P. Muñiz, Aaron Nazarian, Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Border Prospects For 2019 (Nafta / Alcan / Usmca), Thomas M. Fullerton Jr.

Border Region Modeling Project

No abstract provided.

Electricity Consumption And Economic Growth In El Paso: 1976-2015, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

Links between electricity consumption and economic growth are fairly well documented for national economies, but less so for urban economies. The analysis of such relationships at the sub-national level of aggregation can potentially offer a useful complement to national-level research. This study examines the electricity-growth nexus in El Paso, Texas, while also considering the roles of capital stocks and employment. Testing suggests the presence of cointegrating relationships and a vector error correction model is estimated. Granger causality tests reveal the absence of causality between electricity consumption and personal income, implying that energy conservation efforts will have a neutral effect on …

Mexico Consensus Economic Forecast, Volume 21, Number 4, Thomas M. Fullerton Jr., Aaron Nazarian, Steven L. Fullerton, Sergio Olivas

Border Region Modeling Project

No abstract provided.