Economics

An Econometric Analysis For Cargo Throughput Determinants In Belawan International Container Terminal, Indonesia, Taufik Haris

World Maritime University Dissertations

No abstract provided.

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An Appraisal Of Ports To The Socio Economic Development Of Cameroon : Case Of The Port Of Douala, Munge Mbongalle

World Maritime University Dissertations

No abstract provided.

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Between Aastha And Zee:Mystery Of The Missing Market For Aweather Channel, Satish Y. Deodhar, Chayasmita Deka

International Review of Business and Economics

Until a few decades ago, Doordarshan was the only channel which would broadcast TV programmes in black-&-white and that too for a few hours. It was a pure public good then, offered free of cost by the government. Today, however, from Aastha to Zee there are hundreds of dedicated private channels competing to offer news, sports, entertainment, and spirituality for a price. And still, there is not a single channel which is dedicated to 24-hour weather forecast. This is a clear case of market failure of the free enterprise system. The missing market for an exclusive weather channel is the …

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Bismarck To No Effect: Fertility Decline And The Introduction Of Social Insurance In Prussia, Timothy W. Guinnane, Jochen Streb

Discussion Papers

Economists have long argued that introducing social insurance will reduce fertility. The hypothesis relies on standard models: if children are desirable in part because they provide security in case of disability or old age, then state programs that provide insurance against these events should induce couples to substitute away from children in the allocation of wealth. We test this claim using the introduction of social insurance in Germany in the 1880s and 1890s. Bismarck’s social-insurance system provided health insurance, workplace-accident insurance, and old age pensions to a majority of the working population. The German case appeals because the social insurance …

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Surviving The Property Market In A Low-Interest And Low-Yield Environment, Singapore Management University

Perspectives@SMU

REITs should note current conditions that echo those leading up to the 2008 Global Financial Crisis and clean up their balance sheets

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China: Facing The Middle Income Trap, Singapore Management University

Perspectives@SMU

Neoliberalism and deregulation provide ready-made growth for China, but formidable hurdles block its route to developed status

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Rhode Island Current Conditions Index -- November 2019, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

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Quantile Treatment Effects In Difference In Differences Models With Panel Data, Brantly Callaway, Tong Li

Faculty and Student Publications

Copyright © 2019 The Authors. This paper considers identification and estimation of the Quantile Treatment Effect on the Treated (QTT) under a straightforward distributional extension of the most commonly invoked Mean Difference in Differences Assumption used for identifying the Average Treatment Effect on the Treated (ATT). Identification of the QTT is more complicated than the ATT though because it depends on the unknown dependence (or copula) between the change in untreated potential outcomes and the initial level of untreated potential outcomes for the treated group. To address this issue, we introduce a new Copula Stability Assumption that says that the …

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Corporate Social Responsibility And Likelihood Of Financial Distress, Ying Zheng, Yong Wang, Crystal Jiang

Finance Department Faculty Journal Articles

Does doing good to society make firms less likely to have financial trouble? This paper looks at the benefit of corporate social responsibility (CSR) and examines whether firms’ CSR engagement affects their chance of falling into financial distress. After analyzing a broad U.S. database spanning 25 years from 1991 to 2015, we find that CSR engagement indeed reduces the likelihood of firms falling into financial distress, and the results are statistically robust and economically significant. Further, we find the impact of CSR on the likelihood of financial distress is more pronounced in economic downturns and for firms with high levels …

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Contributions Of Agriculture, Smesand Non-Smes Toward Povertyreduction In Bangladesh, Prashanta K. Banerjee, Matiur Rahman

International Review of Business and Economics

This paper studies the contributions of bank-based financing to agriculture, SMEs and non-SMEs in the overall poverty reduction in Bangladesh. Annual data are used from 1980 to 2015. ARDL bounds testing approach is applied for evidence of cointegration among the variables and VECM is subsequently estimated. The empirical results show that financing of non-SMEs significantly reduces overall poverty in the long run. To this effect, SMEs play a marginal role in the current state of affairs. In contrast, agricultural financing reveals, otherwise.

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Private Universities Of Bangladesh:A Study On Service Quality,Customers’ Perceptions And Satisfaction, Abdul Kader, A. Salam

International Review of Business and Economics

The higher education sector of Bangladesh is divided as private and public sectors in terms of the initiative of establishment. All of them are autonomous where the public universities are owned by the government and the private universities have been developed by the private sector. As the private universities produce services and sell it to the students by a comprehensive marketing effort, we can treat their services as a part of marketing. In this study, we tried to show the quality of services and the subsequent perception and satisfaction level of the stake holders regarding services are being provided by …

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Voluntary Simplicity And Materialism: Different Cognitive And Attitudinal Drivers And Different Effects On Self-Brand Connections, Vladimir Pashkevich

International Review of Business and Economics

No abstract provided.

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Unequal Opportunities And Public Policy: The Impact Of Parental Disability Benefits On Child Postsecondary Attendance, Kelly Chen, Lars Osberg, Shelley Phipps

Economics Faculty Publications and Presentations

This paper uses Canada’s National Longitudinal Survey of Children and Youth to examine whether greater cash transfers available to parents with disabilities when their child was aged 5 to 15 increase the chances that the child will attend post-secondary education (PSE) as a young adult. We exploit differences across provinces and over time in the generosity of provincial disability benefits programs in Canada and find that higher disability benefits when the child was aged 5-15 years old increase the probability that he or she will have attended or be attending PSE by age 19 to 25. The estimated effect size …

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Irving Fisher, Ragnar Frisch And The Elusive Quest For Measurable Utility, Robert W. Dimand

Cowles Foundation Discussion Papers

Commitment to the behaviorist approach to utility theory, to the usefulness of mathematics in economic analysis and to equalization of the marginal utility of income as a principle of just taxation brought Irving Fisher and Ragnar Frisch to attempt to measure the marginal utility of income, and led them to collaborate in forming the Econometric Society and sponsoring the establishment of the Cowles Commission, institutions advancing economic theory in connection to mathematics and statistics. To be presented at a symposium at the University of Oslo, December 3, 2019, honoring the 50th anniversary of the award to Ragnar Frisch of the …

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Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

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The Cowles Commission And Foundation For Research In Economics, Robert W. Dimand

Cowles Foundation Discussion Papers

Founded in 1932 by a newspaper heir disillusioned by the failure of forecasters to predict the Great Crash, the Cowles Commission promoted the use of formal mathematical and statistical methods in economics, initially through summer research conferences in Colorado and through support of the Econometric Society (of which Alfred Cowles was secretary-treasurer for decades). After moving to the University of Chicago in 1939, the Cowles Commission sponsored works, many later honored with Nobel Prizes but at the time out of the mainstream of economics, by Haavelmo, Hurwicz and Koopmans on econometrics, Arrow and Debreu on general equilibrium, Yntema and Mosak …

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Léon Walras, Irving Fisher And The Cowles Approach To General Equilibrium Analysis, Robert W. Dimand

Cowles Foundation Discussion Papers

This paper explores the relationship of Walras’s work to a particularly influential tradition of general equilibrium, that associated with the Cowles Commission for Research in Economics in Colorado in the 1930s and at the University of Chicago from 1939 to 1955, and its successor, the Cowles Foundation, at Yale University from 1955. Irving Fisher introduced general equilibrium analysis into North America with his 1891 Yale dissertation Mathematical Investigations in the Theory of Value and Prices (published 1892) and was responsible in 1892 for the ﬁrst English translation of a monograph by Walras. Fisher was only able to obtain copies of …

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'Follow The Data' — What Data Says About Real-World Behavior In Commons Problems, Caleb M. Koch, Heinrich H. Nax

Cowles Foundation Discussion Papers

We test the game-theoretic foundations of common-pool resources using an individual-level dataset of groundwater usage that accounts for 3% of US irrigated agriculture. Using necessary and suﬀicient revealed preference tests for dynamic games, we ﬁnd: (i) a rejection of the standard game-theoretic arguments based on strategic substitutes, and instead (ii) support for models building on reciprocity-like behavior and strategic complements. By estimating strategic interactions directly, we ﬁnd that reciprocity-like interactions drive behavior more than market and climate trends. Taken together, we take a step toward developing more realistic models to understand groundwater usage, and related issues pertaining to tragedy of …

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Key Facts About East Texas’ Uninsured Population - November 2019, Manuel Reyes-Loya, Marilyn Young, Ayush Kumar

Hibbs Newsletter

In this issue of the Hibbs Newsletter, we discuss the health insurance coverage in the U.S. with a focus on East Texas.

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Marijuana Legalization: Beyond Yes Or No., Keith Humphreys

Center for Policy Research

This paper will first go over some basic terms and concepts, then discuss what’s going on in the world around cannabis with a focus on the United States. I will then offer some policy options to consider if New York chooses to legalize recreational cannabis.

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Valuing Non-Market Economic Impacts From Natural Hazards, Abbie A. Rogers, Fiona L. Dempster, Jacob I. Hawkins, Robert J. Johnston, Peter C. Boxall, John Rolfe, Marit E. Kragt, Michael P. Burton, David J. Pannell

Prioritising investments to minimise or mitigate natural hazards such as wildfires and storms is of increasing importance to hazard managers. Prioritisation of this type can be strengthened by considering benefit and cost impacts. To evaluate benefits and costs, managers require an understanding of both the tangible economic benefits and costs of mitigation decisions, and the often intangible values associated with environmental, social and health-related outcomes. We review the state of non-market valuation studies that provide monetary equivalent estimates for the intangible benefits and costs that can be affected by natural hazard events or their mitigation. We discuss whether managers can …

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Kick-Starting Economic Growth: An Interview With Dr K. V. Subramanian, India's Chief Economic Advisor, K V Subramanian, Havovi Joshi

Asian Management Insights

Dr K. V. Subramanian emphasises the importance of higher investment rates, good quality loans, and structural reforms for boosting India’s economic growth.

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Irrational Exuberance: Panic Rooms And Flutters In Financial Markets, Vijay Fafat

Asian Management Insights

As the memory of the 2008 financial crash fades, there are cautionary thoughts on why we tend to overshoot in our optimism, and why even genius comes to grief in the face of capricious, mercurial capital markets.

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Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

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Market Risk And Market-Implied Inflation Expectations, Lucjan T. Orlowski, Carolyne Cebrian Soper

WCBT Faculty Publications

We examine interactions between market risk and market-implied inflation expectations. We argue that these interactions are asymmetric and varied in time. Specifically, market risk becomes elevated by expectations of either very low or high expected inflation. Market risk does not react to expectations of moderate, stable inflation. In our analysis, market risk is proxied by VIX and market-implied inflation expectations are reflected by five- and ten-year breakeven inflation. We use daily data for 5 and 10 year breakeven inflation and VIX for the sample period January 3, 2003 – January 24, 2019 for empirical testing. We employ asymptotic VAR, multiple …

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Growth, Sprawl, And The Contradictions Of Capitalism: San Diego Suburbs And The Speculative Frenzy, 1970-1991, Richard Hogan

Purdue GIS Day

San Diego has become the most beautiful place where nobody can afford to live because speculative growth drives housing prices regardless of the level of supply or demand. How this happened in San Diego County is fairly clear. Marx explained that ground rents (and thereby land prices) increase when capital and labor are invested in the most valuable land and when investment is intensive, with vast amounts of labor and capital focused on the high yield properties to the virtual exclusion of less productive or less valuable lands. In fact, speculative growth between 1960 and 1980 conformed to what Marx …

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Borderplex Business Barometer, Volume 3, Number 11, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate, Ignacio Santana

Border Region Modeling Project

No abstract provided.

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Wealth, Equal Protection, And Due Process, Brandon L. Garrett

William & Mary Law Review

Increasingly, constitutional litigation challenging wealth inequality focuses on the intersection of the Equal Protection and Due Process Clauses. That intersection—between equality and due process—deserves far more careful exploration. What I call “equal process” claims arise from a line of Supreme Court and lower court cases in which wealth inequality is the central concern. For example, the Supreme Court in Bearden v. Georgia conducted analysis of a claim that criminal defendants were treated differently based on wealth in which due process and equal protection principles converged. That equal process connection is at the forefront of a wave of national litigation concerning …

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Innovation, Growth, And Dynamic Gains From Trade, Wen-Tai Hsu, Raymond G. Riezman, Ping Wang

Research Collection School Of Economics

How large are the welfare gains from trade? Would such gains be significantly amplified in the long run when productivity is endogenously enhanced? To address these questions, we focus on the dynamic effect of trade, in particular, how trade affects the incentives for technological advancement. We construct an innovation-based endogenous growth model of North-South trade. There are two types of innovation: one by the North to upgrade the general purpose technology (GPT) and another by all countries to advance entrepreneurial knowledge for developing differentiated products. We find sizable welfare gains from trade, about 5.3% when compared to autarky. The gains …

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Strategically Simple Mechanisms, Tilman Börgers, Jiangtao Li

Research Collection School Of Economics

We define and investigate a property of mechanisms that we call "strategic simplicity," and that is meant to capture the idea that, in strategically simple mechanisms, strategic choices require limited strategic sophistication. We define a mechanism to be strategically simple if choices can be based on first-order beliefs about the other agents' preferences and first-order certainty about the other agents' rationality alone, and there is no need for agents to form higher-order beliefs, because such beliefs are irrelevant to the optimal strategies. All dominant strategy mechanisms are strategically simple. But many more mechanisms are strategically simple. In particular, strategically simple …

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Full-Text Articles in Economics

An Econometric Analysis For Cargo Throughput Determinants In Belawan International Container Terminal, Indonesia, Taufik Haris

World Maritime University Dissertations

An Appraisal Of Ports To The Socio Economic Development Of Cameroon : Case Of The Port Of Douala, Munge Mbongalle

World Maritime University Dissertations

Between Aastha And Zee:Mystery Of The Missing Market For Aweather Channel, Satish Y. Deodhar, Chayasmita Deka

International Review of Business and Economics

Bismarck To No Effect: Fertility Decline And The Introduction Of Social Insurance In Prussia, Timothy W. Guinnane, Jochen Streb

Discussion Papers

Surviving The Property Market In A Low-Interest And Low-Yield Environment, Singapore Management University

Perspectives@SMU

China: Facing The Middle Income Trap, Singapore Management University

Perspectives@SMU

Rhode Island Current Conditions Index -- November 2019, Leonard Lardaro

The Rhode Island Current Conditions Index

Quantile Treatment Effects In Difference In Differences Models With Panel Data, Brantly Callaway, Tong Li

Faculty and Student Publications

Corporate Social Responsibility And Likelihood Of Financial Distress, Ying Zheng, Yong Wang, Crystal Jiang

Finance Department Faculty Journal Articles

Contributions Of Agriculture, Smesand Non-Smes Toward Povertyreduction In Bangladesh, Prashanta K. Banerjee, Matiur Rahman

International Review of Business and Economics

Private Universities Of Bangladesh:A Study On Service Quality,Customers’ Perceptions And Satisfaction, Abdul Kader, A. Salam

International Review of Business and Economics

Voluntary Simplicity And Materialism: Different Cognitive And Attitudinal Drivers And Different Effects On Self-Brand Connections, Vladimir Pashkevich

International Review of Business and Economics

Unequal Opportunities And Public Policy: The Impact Of Parental Disability Benefits On Child Postsecondary Attendance, Kelly Chen, Lars Osberg, Shelley Phipps

Economics Faculty Publications and Presentations

Irving Fisher, Ragnar Frisch And The Elusive Quest For Measurable Utility, Robert W. Dimand

Cowles Foundation Discussion Papers

Article Index, Usawc Press

The US Army War College Quarterly: Parameters

The Cowles Commission And Foundation For Research In Economics, Robert W. Dimand

Cowles Foundation Discussion Papers

Léon Walras, Irving Fisher And The Cowles Approach To General Equilibrium Analysis, Robert W. Dimand

Cowles Foundation Discussion Papers

'Follow The Data' — What Data Says About Real-World Behavior In Commons Problems, Caleb M. Koch, Heinrich H. Nax

Cowles Foundation Discussion Papers

Key Facts About East Texas’ Uninsured Population - November 2019, Manuel Reyes-Loya, Marilyn Young, Ayush Kumar

Hibbs Newsletter

Marijuana Legalization: Beyond Yes Or No., Keith Humphreys

Center for Policy Research

Valuing Non-Market Economic Impacts From Natural Hazards, Abbie A. Rogers, Fiona L. Dempster, Jacob I. Hawkins, Robert J. Johnston, Peter C. Boxall, John Rolfe, Marit E. Kragt, Michael P. Burton, David J. Pannell

Economics

Kick-Starting Economic Growth: An Interview With Dr K. V. Subramanian, India's Chief Economic Advisor, K V Subramanian, Havovi Joshi

Asian Management Insights

Irrational Exuberance: Panic Rooms And Flutters In Financial Markets, Vijay Fafat

Asian Management Insights

Book Reviews, Usawc Press

The US Army War College Quarterly: Parameters

Market Risk And Market-Implied Inflation Expectations, Lucjan T. Orlowski, Carolyne Cebrian Soper

WCBT Faculty Publications

Growth, Sprawl, And The Contradictions Of Capitalism: San Diego Suburbs And The Speculative Frenzy, 1970-1991, Richard Hogan

Purdue GIS Day

Borderplex Business Barometer, Volume 3, Number 11, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate, Ignacio Santana

Border Region Modeling Project

Wealth, Equal Protection, And Due Process, Brandon L. Garrett

William & Mary Law Review

Innovation, Growth, And Dynamic Gains From Trade, Wen-Tai Hsu, Raymond G. Riezman, Ping Wang

Research Collection School Of Economics

Strategically Simple Mechanisms, Tilman Börgers, Jiangtao Li

Research Collection School Of Economics