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2018

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Articles 391 - 420 of 1742

Full-Text Articles in Economics

Random Assignment Of Bundles, Shurojit Chatterji, Peng Liu Sep 2018

Random Assignment Of Bundles, Shurojit Chatterji, Peng Liu

Research Collection School Of Economics

We study the random assignments of bundles with no free disposal. The key difference between the setting with bundles and the setting with objects (see Bogomolnaia and Moulin (2001)) is one of feasibility. The implications of this difference are significant. First, the characterization of sd-efficient random assignments is fundamentally different. Second, a possibility result in the setting with objects fails in the setting with bundles. However, in the setting with bundles, we are able to identify a preference restriction, called essential monotonicity, under which the random serial dictatorship rule (extended to the setting with bundles) is equivalent to the probabilistic …


(Wp 2018-04) Economics And Economic Methodology In A Core-Periphery Economic World, John B. Davis Sep 2018

(Wp 2018-04) Economics And Economic Methodology In A Core-Periphery Economic World, John B. Davis

Economics Working Papers

This paper uses a core-periphery distinction to characterize contemporary economics, economic methodology, and also today’s world economy. First, it applies the distinction to the organization of contemporary economics through an examination of the problem of explaining economics’ relations to and boundaries with other disciplines. Second, it argues that economics’ core-periphery organization is replicated in a similar organization of the use and practice of contemporary economic methodology in economics Third, it draws on the use of the core-periphery thinking in economics itself and the uneven development of the world economy to provide possible foundations for economics and economic methodology being organized …


(Wp 2018-03) Comment On White On The Relationship Between Economics And Ethics, John B. Davis Sep 2018

(Wp 2018-03) Comment On White On The Relationship Between Economics And Ethics, John B. Davis

Economics Working Papers

This short comment on Mark White’s comment on the relationship of economics and ethics focuses on the nature of economics and ethics as an emergent field of investigation. It discusses different types of between-discipline fields, and compares crossdisciplinary and transdisciplinary interpretations of economics and ethics. The ‘domestication’ thesis associated with borrowing across disciplines is examined in terms of the idea of a metaphorical transfers. Institutional constraints on between-discipline developments are evaluated relative to increasing specialization within and across disciplines. The transdisciplinary interpretation of economics and ethics is given a complexity theory explanation.


Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti Sep 2018

Warrants And Their Underlying Stocks: Microstructure Evidence From An Emerging Market, Charlie Charoenwong, David K. Ding, Nuttawat Visaltanachoti

Research Collection Lee Kong Chian School Of Business

The Stock Exchange of Thailand provides an ideal platform for comparing the trading characteristics of warrants and their underlying stocks since both of them trade in the same market under identical trading rules. If their patterns diverge significantly, it may be possible for an astute trader to devise profitable arbitrage strategies during the life of the warrants. We find that both their patterns are downward-sloping for spreads, U-shaped for flow toxicity, volatility, depth concentration, and trading volume; and upward-sloping for depth and market order flow ratio. This implies that trading under identical market structures leads to similar trading characteristics. We …


Younger Federal District Court Judges Favor Presidential Power, Tom Campbell, Nathaniel T. Wilcox Sep 2018

Younger Federal District Court Judges Favor Presidential Power, Tom Campbell, Nathaniel T. Wilcox

ESI Working Papers

From 1960 to 2015, Federal District Court opinions involving challenges to Executive Branch authority show that U.S. Federal District Court judges (trial judges) support such authority less as they age, with a sharp decline beginning near age 57. We argue that District judges know that elevation to the Federal Circuit Court of Appeals becomes increasingly improbable, and hence have less reason to ‘cooperate’ with the Executive, with advancing age. Political variables (and other variables) introduced as extra regressors do not reverse our main results. When there are contemporaneous vacancies on their Circuit courts, District judges in the eleven State Circuits …


Optimal Portfolio Choices And The Determination Of Housing Rents Under Housing Market Uncertainty, Gang-Zhi Fan, Ming Pu, Xiaoying Deng, Seow Eng Ong Sep 2018

Optimal Portfolio Choices And The Determination Of Housing Rents Under Housing Market Uncertainty, Gang-Zhi Fan, Ming Pu, Xiaoying Deng, Seow Eng Ong

Research Collection Lee Kong Chian School Of Business

This study proposes a utility indifference-based model to investigate the pricing issue of house rents under housing market uncertainty. Our model not only allows for the crucial features in the housing market, such as market incompleteness and high idiosyncratic risk, but also the interaction of households’ house tenure choices with their financial asset holdings. Our model provides interesting insights into the hedging of house market risk and determination of housing rents. In addition to the parameters describing the expected changes and volatility on stock and house returns, we also show that individual precautionary savings motive, idiosyncratic risk premium, and the …


Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng Sep 2018

Innovation, Firm Size Distribution, And Gains From Trade, Yi-Fan Chen, Wen-Tai Hsu, Shin-Kun Peng

Research Collection School Of Economics

We study a trade model with monopolistic competition a la Melitz (2003) that is standard except that firm heterogeneity is endogenously determined by firms innovating to enhance their productivities. We show that the equilibrium productivity and firm-size distributions exhibit power-law tails under rather general conditions on demand and technology. In particular, the emergence of the power laws is essentially independent of the underlying primitive heterogeneity among firms. We investigate the model’s welfare implications, and conduct a quantitative analysis of welfare gains from trade. We find that, conditional on the same trade elasticity and values of the common parameters, our model …


Aging Suppresses Skin-Derived Circulating Sdf1 To Promote Full-Thickness Tissue Regeneration, Mailyn A. Nishiguchi, Casey A. Spencer, Denis H. Y. Leung, Thomas H. Leung Sep 2018

Aging Suppresses Skin-Derived Circulating Sdf1 To Promote Full-Thickness Tissue Regeneration, Mailyn A. Nishiguchi, Casey A. Spencer, Denis H. Y. Leung, Thomas H. Leung

Research Collection School Of Economics

Physicians have observed that surgical wounds in the elderly heal with thinner scars than wounds in young patients. Understanding this phenomenon may reveal strategies for promoting scarless wound repair. We show that full-thickness skin wounds in aged but not young mice fully regenerate. Exposure of aged animals to blood from young mice by parabiosis counteracts this regenerative capacity. The secreted factor, stromal-derived factor 1 (SDF1), is expressed at higher levels in wounded skin of young mice. Genetic deletion of SDF1 in young skin enhanced tissue regeneration. In aged mice, enhancer of zeste homolog 2 (EZH2) and histone H3 lysine 27 …


Homogeneity Pursuit In Panel Data Models: Theory And Application, Wuyi Wang, Peter C. B. Phillips, Liangjun Su Sep 2018

Homogeneity Pursuit In Panel Data Models: Theory And Application, Wuyi Wang, Peter C. B. Phillips, Liangjun Su

Research Collection School Of Economics

This paper studies the estimation of a panel data model with latent structures where individuals can be classified into different groups with the slope parameters being homogeneous within the same group but heterogeneous across groups. To identify the unknown group structure of vector parameters, we design an algorithm called Panel-CARDS. We show that it can identify the true group structure asymptotically and estimate the model parameters consistently at the same time. Simulations evaluate the performance and corroborate the asymptotic theory in several practical design settings. The empirical application reveals the heterogeneous grouping effect of income on democracy.


Editorial For The Special Issue Entitled: New Advances In Spatial Econometrics: Interactions Matter, Nicolas Debarsy, Zhenlin Yang Sep 2018

Editorial For The Special Issue Entitled: New Advances In Spatial Econometrics: Interactions Matter, Nicolas Debarsy, Zhenlin Yang

Research Collection School Of Economics

This Regional Science and Urban Economics special issue collects together a subset of contributions presented in the 15th edition of the International Workshop in Spatial Econometrics and Statistics, which was organized by the Department of Economics of the University of Orléans (Laboratoire d’Economie d’Orléans – UMR CNRS 7322) on May 26-27 2016


Geography, Trade And Power-Law Phenomena, Pao-Li Chang, Wen-Tai Hsu Sep 2018

Geography, Trade And Power-Law Phenomena, Pao-Li Chang, Wen-Tai Hsu

Research Collection School Of Economics

This article provides a review on the theories of various power-law phenomena related to geography and trade. In particular, we focus our discussion on the gravity equation of trade flows, the power law in firm size, and the link between the two - highlighting the roles of geography and trade in the theoretical modeling. We also discuss how these two power-law phenomena may be related to other power-law phenomena, such as those in income, firm productivity and city size.


Sharing Sequential Values In A Network, Ruben Juarez, Yu Ko Chiu, Jingyi Xue Sep 2018

Sharing Sequential Values In A Network, Ruben Juarez, Yu Ko Chiu, Jingyi Xue

Research Collection School Of Economics

Consider a sequential process where agents have individual values at every possible step. A planner is in charge of selecting steps and distributing the accumulated aggregate values among a number of agents. We model this process by a directed network, whereby each edge is associated with a vector of individual values. This model applies to several new and existing problems, e.g. developing a connected public facility and distributing total values received by surrounding districts, selecting a long-term production project and sharing final profits among partners of a firm, or choosing a machine schedule to serve different tasks and distributing total …


The Impact Of Cleft Lip And Palate Repair Surgery On Cognitive And Academic Outcomes For Teens In India, R Jeremiah Maller Aug 2018

The Impact Of Cleft Lip And Palate Repair Surgery On Cognitive And Academic Outcomes For Teens In India, R Jeremiah Maller

Master's Theses

India has a backlog of nearly one million patients in need of cleft lip and palate repair. Unrepaired cleft results in social stigma and diminished health, psychological wellbeing, and academic functioning. Cleft repair surgery has the potential to restore functioning in these domains. However, the magnitude of the social, educational, and economic impact of cleft repair surgery has not been evaluated using statistically rigorous methods. An estimation of the academic and educational impact of cleft repair has implications for the appropriate allocation of public health resources. We analyze original data gathered from teenagers in West Bengal, India using the difference-in-differences …


Does Manufacturing Sophistication Lead To Higher Demand For Vocational Workers? Evidence From Indonesia, Padang Wicaksono, Lionel Priyadi Aug 2018

Does Manufacturing Sophistication Lead To Higher Demand For Vocational Workers? Evidence From Indonesia, Padang Wicaksono, Lionel Priyadi

Economics and Finance in Indonesia

Indonesia post-crisis manufacturing growth has been dominated by technologically sophisticated industry. Hypothetically, this development would increase the demand for skilled and more specialized workers like vocational school graduates. However, statistical evidences show that manufacturing sophistication stimulated by integration with the Global Production Network increase demand for vocational as well as general high school graduates. Moreover, higher demand does not necessarily result in sustainable career prospect, as many vocational graduates still have limited opportunity to improve their skills while climbing the seniority ladder possibly caused by shifting Global Value Chain from export-oriented toward domestic market-oriented that affect the industry's technological complexity.


The Relationship Of Vat Rate And Revenues In The Case Of Informality, Riatu M. Qibthiyyah Aug 2018

The Relationship Of Vat Rate And Revenues In The Case Of Informality, Riatu M. Qibthiyyah

Economics and Finance in Indonesia

This study explored relationship between tax rate and revenues in the case of VAT, one of few type of consumption taxes that is considered to be a broad-based tax. Based on a larger set of countries - in comparison to previous studies, this study shows VAT rate has an inverted U-shaped relationship to VATÂ revenues, confirming the Laffer Curve theory. Exploring further on the effect of informality to maximum VAT rate, we found that higher informality will reduce government flexibility in its effort to increase tax rate. Furthermore, openness has significant and positive effect on VAT revenues performance, and tax …


Income Inequality Between Formal-Informal Employees Based On Education Group, Dias Satria Aug 2018

Income Inequality Between Formal-Informal Employees Based On Education Group, Dias Satria

Economics and Finance in Indonesia

Integrally, the informal sector deals with the formal sector with pro-cyclical nature or as a complementary sector. Such conditions allow for wage disparity between sectors even in the same education group. Thus, this study seeks to determine the determinants of wage inequality between formal and informal employees in skilled and unskilled workers in Indonesia in 2017 using Blinder-Oaxaca decomposition. The results showed that the discrimination factor had a greater influence than the endowment factor on wage inequality and the endowment factors that contributed to the increase in wage inequality between the two groups were age squared, experience, and job training.


Recent Developments In Indonesia's Macro-Economy And Trade, Q1-2018, Febrio Kacaribu Aug 2018

Recent Developments In Indonesia's Macro-Economy And Trade, Q1-2018, Febrio Kacaribu

Economics and Finance in Indonesia

This paper discusses Indonesia's macroeconomic and trade development in the first quarter of 2018. The macroeconomic data shows that the industrial growth was inhibited by regulatory regime inconsistency, while consumption growth still lagged overall GDP growth, and investment growth tended to rise. The trade data shows that the non-oil-and-gas commodities dominated its export, although the commodities terms-of-trade declined. Indonesia's imports were mostly used as raw and auxiliary materials for the input of domestic production. The data also reveals that the larger the firms, the stronger tendency that they have comparative advantage in capital-intensive commodities, and vice versa.


Modification Of The Regulatory Impact Assessment On Indonesia's Economic Policies, Kiki Verico Aug 2018

Modification Of The Regulatory Impact Assessment On Indonesia's Economic Policies, Kiki Verico

Economics and Finance in Indonesia

This paper modifies the Regulatory Impact Assessment (RIA) method in Indonesia's trade, investment, and industrial incentive policies. First, it analyses the Indonesian Bilateral Trade Agreements of Indonesia - Japan Economic Partnership Agreement (IJEPA) and Indonesia - Pakistan Preferential Trade Agreement (IP-PTA) This paper found if the trading partner has GNI per capita higher than Indonesia's then the expected outcome was the increasing FDI inflows and if its GNI per capita lower therefore the most top foreseeable result was the rising net trade balance of Indonesia. Second, it analyses industrial sector incentive analysis and found that firms prefer supply-side than fiscal …


A Model For Farmer Support In Zimbabwe – Opportunity For Change, Brierly Kuhudzayi, Daniela Mettos Aug 2018

A Model For Farmer Support In Zimbabwe – Opportunity For Change, Brierly Kuhudzayi, Daniela Mettos

Cornhusker Economics

Community development refers to the collective action of a group of people to improve their quality of life or to fix a problem they face. It involves active participation by the people facing the problem. Input subsidy programs (ISPs) are commonly used in Sub-Saharan Africa as a strategy to achieve several development goals. They generally aim to improve the lives of poor subsistence-level farmers, improve agricultural output, and stimulate the economy. However, ISPs are not technically a community development tool because they are typically centrally planned and top-down in nature.


Traveling With Joel, Peter Mclaren Aug 2018

Traveling With Joel, Peter Mclaren

Education Faculty Articles and Research

"Kovel’s contributions to a critique of psychiatry, of political theory and of the ruination of the biosphere have been pathfinding, highly revered, and reviewed and debated in highly prestigious journals and publications such as The New York Times. His work with revolutionaries around the globe (including sojourns in Nicaragua during the Sandinista revolution as just one of many examples), and his achievements alongside some of the leading political activists worldwide have secured for Kovel a premier place in the history of the left. But notoriety is not what drives Kovel’s work. What drives Kovel’s work is a relentless struggle for …


Quantitative Methods, Ahmed Elkhouly Aug 2018

Quantitative Methods, Ahmed Elkhouly

Open Educational Resources

Quantitative Methods Syllabus


Econ 10400 Introduction To Quantitative Economics, Ahmed Elkhouly Aug 2018

Econ 10400 Introduction To Quantitative Economics, Ahmed Elkhouly

Open Educational Resources

ECON 10400 Introduction to Quantitative Economics Syllabus


Econ 20250 Intrermeiate Microeconomics, Ahmed Elkhouly Aug 2018

Econ 20250 Intrermeiate Microeconomics, Ahmed Elkhouly

Open Educational Resources

ECON 20250 Intermediate Microeconomics Syllabus


International Container Logistics Transshipment Service : Comparison Between Shanghai Port And Singapore Port, Tingyu Han Aug 2018

International Container Logistics Transshipment Service : Comparison Between Shanghai Port And Singapore Port, Tingyu Han

World Maritime University Dissertations

No abstract provided.


Determination Of The Ordering For Dry Bulk Shipping Vessels, Tianyi Bao Aug 2018

Determination Of The Ordering For Dry Bulk Shipping Vessels, Tianyi Bao

World Maritime University Dissertations

No abstract provided.


The Driving Force Analysis Of The Overseas Ports Invested By Shanghai International Port Group, Yuewen Hu Aug 2018

The Driving Force Analysis Of The Overseas Ports Invested By Shanghai International Port Group, Yuewen Hu

World Maritime University Dissertations

No abstract provided.


The Impact Of Wti And The Ordering Of Crude Tankers On Tanker Spot Freight Rate, Jiajia Xu Aug 2018

The Impact Of Wti And The Ordering Of Crude Tankers On Tanker Spot Freight Rate, Jiajia Xu

World Maritime University Dissertations

No abstract provided.


Study On Bulk Market Of Panamax Carrier In The Past 20 Years(1998-2018), Wei Chen Aug 2018

Study On Bulk Market Of Panamax Carrier In The Past 20 Years(1998-2018), Wei Chen

World Maritime University Dissertations

No abstract provided.


How To Break The Monopoly In Port Industrial, Minjiang Gao Aug 2018

How To Break The Monopoly In Port Industrial, Minjiang Gao

World Maritime University Dissertations

No abstract provided.


On The Balance Between Port Integration And Anti-Monopoly : China As A Case, Ying Huang Aug 2018

On The Balance Between Port Integration And Anti-Monopoly : China As A Case, Ying Huang

World Maritime University Dissertations

No abstract provided.