Economics Commons^™

Uncertainty, Depreciation And Industry Growth, Roberto Samaiego, Juliana Yu Sun

Research Collection School Of Economics

When investment is irreversible, firms invest only when the mismatch between their productivity and their capital stock is large. This suggests that two factors should be related to the frequency of mismatch: volatility and capital depreciation. A canonical model of industry dynamics with investment irreversibility displays slow growth in times of high uncertainty, and decline is particularly pronounced in industries where capital depreciation is rapid. A differences-in-differences regression using industry growth data from a large sample of countries supports this result.

Rationalizable Implementation Of Correspondences, Takashi Kunimoto, Roberto Serrano

Research Collection School Of Economics

A new condition, which we call uniform monotonicity, is shown to be necessary and almost sufficient for rationalizable implementation of corre-spondences. Uniform monotonicity is much weaker than Maskin monotonic-ity and reduces to it in the case of functions. Maskin monotonicity, the key condition for Nash implementation, had also been shown to be necessary for rationalizable implementation of social choice functions. Our conclusion is that the conditions for rationalizable implementation are not only starkly different from, but also much weaker than those for Nash implementation, when we consider social choice correspondences. Thus, dropping rational ex-pectations significantly expands the class of rules …

Migration Transforms The Conditions For The Achievement Of The Sustainable Development Goals, W. Neil Adger, Emily Boyd, Anita Fábos, Sonja Fransen, Dominique Jolivet, George Neville, Ricardo Safra De Campos, Marjanneke J. Vijge

Sustainability and Social Justice

Migration is transformative both for those who move and for the places and economies of source and destination. The global stock of migrants, depending on definition, is approximately 750 million people: to assume that the world is static and that migration is a problem to be managed is inaccurate. Since migration is a major driving force of planetary and population health, we argue that it must be more directly incorporated into planning for sustainable development, with a focus on the extent and way in which the Sustainable Development Goals (SDGs) incorporate the transformative reality of migration.

A Demand And Supply Game Exploring Global Supply Chains, Bei Hong

Research Collection School Of Economics

In this article, the author describes a classroom experiment in which participants make decisions to achieve the lowest-cost production. Student volunteers acting as smartphone companies are provided with confidential information representing their own cost of production and are asked to make trade decisions to form a supply chain at the lowest possible cost. This interactive classroom experiment facilitates an understanding and appreciation of the basic demand and supply model. Students also explore the motivations, facilitators, and impediments of global supply chains. Suggestions are made to expand the game by incorporating more sophisticated models of the global supply chain, and also …

Quantifying Quality Specialization Across Space: Skills, Sorting, And Agglomeration, Pao-Li Chang, Angdi Lu, Xin Yi

Research Collection School Of Economics

We quantify the supply-side determinants of quality specialization across space. Specifically, we complement the quality specialization literature in international trade and study how larger cities specialize in higher-quality goods within a country. In our general equilibrium model, firms in larger cities produce goods with higher quality, because agglomeration benefits accrue more to skilled workers who are also more efficient in upgrading quality. Two channels are at work in our model. The first channel is through the treatment effect of agglomeration, such that firms become more productive if they locate in a larger city. The second channel works through sorting, in …

Future And Value: The Library As Strategic Partner, Antje Mays

Charleston Library Conference

Broader economic trends spawn budget pressures for education and libraries, prompting a plethora of studies on the value and relevance of libraries. Numerous reports on economic decline in libraries and studies with mixed pronouncements on the value of libraries have led to a negative self-image within the library profession. Yet libraries’ leadership in connecting learners to knowledge is at the heart of producing many of the key skills sorely needed in robust societies and economies. Librarianship has many untapped opportunities for positioning itself as a prominent strategic partner. This paper outlines current research on the economic and societal context for …

Economic Impact Of Pace University's Department Of Cultural Affairs/Schimmel Theatre, Rebecca Tekula Phd, Adrian Rivero

Wilson Center for Social Entrepreneurship

No abstract provided.

Economic Impact Of Pace University's Athletics Department, Rebecca Tekula Phd, Adrian Rivero

Wilson Center for Social Entrepreneurship

No abstract provided.

The Importance Of Informal Work In Supplementing Household Income, Katharine G. Abraham, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

Climate Change And Occupational Health: Can We Adapt?, Marcus Dillender

Employment Research Newsletter

No abstract provided.

Adverse Life Events And Intergenerational Transfers, Jessamyn Schaller, Chase Eck

Upjohn Institute Working Papers

While there has been broad interest in the direct effects of major life events on older households that experience them, little attention has been paid to the intergenerational transmission of those effects— how negative shocks in parents’ households affect the outcomes of their adult children—or to the role that grown children play in helping their parents recover from adverse events. We use regression and event study approaches to examine within-family changes in monetary transfers and informal care following wealth loss, involuntary job displacement, spousal death, and health shocks in retirement-aged households. We find that giving to adult children is responsive …

Informing The (Willfully) Uninformed, Syed Imran Ali Meerza, Emie Yiannaka, Christopher Rand Gustafson, Kate Brooks

Cornhusker Economics

Antimicrobial Resistance: The Role of Food and Agriculture or Nature White Noise -- which would you rather watch?

A recent study by researchers in the Department of Agricultural Economics at the University of Nebraska- Lincoln gave participants that choice. Nearly 40 percent of respondents avoided learning about antimicrobial resistance and chose the white noise video. The goal of the study was to shed light on the role that certain individual characteristics, such as knowledge, perceptions and attitudes, play on information avoidance behavior. In the study, information avoidance behavior is examined in the context of antimicrobial resistance.

The standard view in …

Migrants And Refugees: Are They Holding Us Back Or Pushing Us Forward?, Dany Bahar

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled "Migrants and Refugees: Are they holding us back or pushing us forward?" by Brookings Fellow in Global Economy and Development, Dany Bahar. It is often cited that human mobility is key to economic growth and productivity. Evidence also points to the economic costs and benefits of international migration for both the sending and receiving countries. This lecture explores if roads to economic growth and prosperity require restrictions to migration, or quite the contrary.

Spatial And Temporal Variation Of Offshore Wind Power And Its Values Along The Central California Coast, Yi-Hui Wang, Ryan K. Walter, Crow White, Matthew D. Kehrli, Stephen F. Hamilton, Patrick H. Soper, Benjamin I. Ruttenberg

Physics

The analysis of the spatiotemporal variability of wind power remains limited during the planning stage of an offshore wind farm. This study provides a framework to investigate how offshore wind power varies along the Central California Coast over diurnal and seasonal time scales, which is critical for reliability and functionality of the grid system. We find that offshore wind power in this region peaks during evening hours across all seasons and maximizes in spring and summer. The timing of peak offshore wind power production better aligns with that of peak demand across California than solar and land-based wind power production, …

Purchasing Products To Make A Difference: A Study Of Corporate Social Responsibility, Gender, And Cosmetic Purchasing Behavior By College Students, Allegra Blomenberg

Honors Program: Senior Projects (Public)

The purpose of this study was to investigate gender differences that exist in the way corporate social responsibility (CSR) is perceived by college students and how this affects cosmetic purchasing behavior. Two other objectives included finding what drives millennial cosmetic purchasing behavior as a whole and the ways in which millennials are informed of companies’ corporate social responsibilities. Through analyses of interview data from fourteen college-age millennials, the study showed that non-binary participants more positively perceived CSR and actively bought from responsible brands. The male participant perceived CSR positively but had never been sure to purchase products from a brand …

Behind Quality, There Is Equality: An Analysis Of Scientific Capital Accumulation In Social-Democratic Welfare Regimes, Olivier Bégin-Caouette

Comparative and International Education / Éducation Comparée et Internationale

ABSTRACT

Trade-offs between quality and equality are at the forefront of multiple debates in higher education, and one conceptual tool to approach societies’ adjustment in resolving these trade-offs is the welfare regime typology. Relying on the theory of academic capitalism and using research production as a proxy for quality in higher education, this study analyses how social-democratic welfare regimes resolve the trade-off between comparatively high levels of academic research production, access to higher education and equal citizens’ living conditions. Interviews with 56 system actors suggest that equality is perceived to contribute to academic freedom, public investments in research and the …

Essays On Nutrition And Cognitive Production In Developing Countries: Evidence From Ethiopia & Nepal, Mohammad Ali

Economics ETDs

This dissertation is comprised of five chapters. The first chapter provides an outline of the three separate research papers that are combined in this dissertation. It highlights the goals of each paper, discusses their importance to the field of economics, and outlines their contributions to the existing literature. The final chapter summarizes the main conclusions from the three research articles and points to how my future research trajectory is shaped by my dissertation research.

The second chapter explores the effect of current health (denoted by BMI for age scores) on cognitive test scores directly and indirectly, through time allocated to …

Four Decades Of Declining Federal Leadership In The Federal-State Unemployment Insurance Program, Stephen A. Wandner

Upjohn Institute Working Papers

The unemployment insurance (UI) program was established in 1935. Unlike other social insurance programs created by the Social Security Act, it was established as a federal-state program. The federal government initially acted as a strong partner working with state agencies that operate the UI program. Over the past four decades, however, the federal role in the UI program has declined because of reductions in federal resources dedicated to the program and weakening policy leadership and programmatic support. As a result, states operate increasingly divergent UI programs, with many programs providing limited access to the program for experienced unemployed workers who …

Breaking Up: Experimental Insights Into Economic (Dis)Integration, Gabriele Camera, Lukas Hohl, Rolf Weder

ESI Working Papers

Standard international economic theory suggests that people should embrace economic integration because it promises large gains. But recent events such as Brexit indicate a desire for economic disintegration. Here we report results of an experiment, based on a strategic analytical framework, of how size and distribution of potential gains from integration influence outcomes and individuals’ inclination to embrace integration. We find that cross-country inequality in potential gains acts as a friction to realize those gains. This suggests that to better understand recent phenomena, international economic theory should account for distributional considerations and behavioral aspects it currently ignores.

A Dynamic Stochastic Frontier Model With Threshold Effects: U.S. Bank Size And Efficiency, Pavlos Almanidis, Mustafa U. Karakaplan, Levent Kutlu

School of Economics and Finance Faculty Publications

Common/Single frontier methodologies that are used to analyze bank efficiency and performance can be misleading because of the homogeneous technology assumption. Using the U.S. banking data over 1984-2010, our dynamic methodology identifies a few data-driven thresholds and distinct size groups. Under common frontier assumption, the largest banks appear to be 22% less efficient on average than how they are in our model. Also, in the common frontier model, smaller banks seem to be relatively more efficient compared to their larger counterparts. Hence, common policies or regulations may not be well-balanced about controlling the banks of different sizes on the spectrum.

An Illustration Of Farm Program Decisions And Impacts, Bradley D. Lubben

Cornhusker Economics

When the 2018 Farm Bill was signed last December, producers could look ahead to implementation and the coming decision between enrollment under the Agricultural Risk Coverage (ARC) program or the Price Loss Coverage (PLC) program. While the ARC and PLC programs carried over from the 2014 Farm Bill with relatively modest changes, the substantial drop in market prices and outlook since 2014 pointed toward a widespread shift in enrollment away from ARC and toward PLC due to the increased relevance of the price safety net.

However, with this year’s extreme weather events, concerns over crop production, and hopes for improved …

Center For Integration Of Science And Industry - Response To Ostp Bioeconomy Rfi, Fred D. Ledley

Natural & Applied Sciences Faculty Publications

RESPONSE TO: AGENCY: Office of Science and Technology Policy (OSTP). ACTION: Notice of request for information (RFI) for Bioeconomy Federal Register /Vol. 84, No. 175 /Tuesday, September 10, 2019 /Notices, page 47561 Transmitted electronically to [email protected]

What specific actions could the U.S. Government take to reinforce a values-based ecosystem that will guide the transformation and expansion of the U.S. Bioeconomy, in both the shortand long-term?

This response addresses specific actions the U.S. Government could take to ensure sustainable funding for the basic research that provides the foundation for the U.S. Bioeconomy. Empirical evidence demonstrates that a mature body of basic …

Perpetual Affordability Covenants: Can These Land Use Tools Solve The Affordable Housing Crisis?, Elizabeth Elia

Faculty Scholarship

Approximately 3.8 million privately-owned residential housing units in America today contain affordability covenants recorded in their chains of title. State and local agencies and the District of Columbia use these covenants to ensure that publicly-subsidized properties are actually used to provide affordable housing. With rents at all-time highs and stagnant wages, the affordable housing crisis has reached a fever pitch. House Democrats are proposing billions more in housing subsidy. To the extent those funds subsidize privately-owned housing development they, too, will be secured by affordability covenants. In response to this crisis, a new trend in high cost markets is to …

Coastal And Marine Tourism In The Future, Mohammad Nur Nobi, Md. Alauddin Majumder

Journal of Ocean and Coastal Economics

Having the world's largest unbroken sea-beach and vast coastline, Bangladesh has an immense potentiality to develop sustainable coastal and marine tourism. In Bangladesh, coastal and marine tourism is already in operation, though on a limited scale. But the growth of tourism in this country is lagging behind compared to the world as a whole. The contribution of this sector in the economy of Bangladesh is still below the mark. Therefore, the economy can be benefited by harnessing opportunities pertinent to the country’s coastal and marine tourism. To attract the local and foreign tourists, the country can improve the existing tourist …

Actual Versus Hypothetical Wta Stated Values For Recreational Fishing Licenses: Experimental Evidence Of Fish Tales, Scott Steinback, Kristy Wallmo, Sabrina Lovell, Eric Thunberg, John Foster

Journal of Ocean and Coastal Economics

We compared hypothetical willingness to accept (WTA) values for Massachusetts saltwater recreational fishing licenses with WTA values obtained in an actual (simulated) marketplace. Using a dichotomous choice contingent valuation approach, our results align with past evidence that found WTA values elicited from hypothetical transactions overstate those derived from an actual marketplace. We also provide the first evidence about the effectiveness of an ex-post certainty adjustment technique in a WTA environment. While the adjustment technique has been found to eliminate hypothetical bias in willingness to pay (WTP) settings, we find that when applied in a WTA setting, the approach mitigates but …

The Shifting Dynamics Of International Reserve Currencies, Robert J. Righi

Undergraduate Economic Review

With the recognition by the IMF of the Chinese renminbi as an international reserve currency in 2015, it is important to understand the modern influence of reserve currencies. We use currency exchange rate data and apply modified workhorse regression models to assign each country’s gross domestic product at purchasing power parity to a reserve currency bloc in order to obtain a global sphere of influence for each reserve currency. We find that the United States retains its dominance but faces challenges from the renminbi and the euro in recent years as the international monetary system becomes tri-polar.

Explaining Anabaptist Persistence In The Modern Economy: Past Paradigms And New Institutional Theory, Martin Lutz

Journal of Amish and Plain Anabaptist Studies

Amish and plain Anabaptist economic research has focused either on the religious ethic in the tradition of Weber—religious convictions drive economic behavior—or the ethnic resources model—resources are mobilized to entrepreneurship. Both approaches (1) neglect the greater market context within which the plain Anabaptists have been embedded since the Early Modern Period, and (2) focus primarily on either early Anabaptism or the late 1900s. This article presents New Institutional Economics Theory as an alternative paradigm which understands people's economic behavior by the institutional contexts they are in. It looks at the World War II economy in the United States when many …

Amish Economic Transformations: New Forms Of Income And Wealth Distribution In A Traditionally “Flat” Community, Amyaz Moledina, David Mcconnell, Stephanie Sugars, Bailey Conner

Journal of Amish and Plain Anabaptist Studies

The basic contours of the Amish economic transformation over the past few decades have been well documented, including the demographic squeeze that pushed many Amish out of farming, their embrace of cottage industries and, to a lesser extent, factory labor, and the social and cultural dilemmas created by successful entrepreneurship. Yet the effects of increasing market entanglement on the distribution of income and assets in Amish communities are still poorly understood. In this exploratory study, we draw on publicly available data from the U.S. Census, the Ohio Amish Directory, and records from real estate transactions to map out the distribution …

Fourteenth Annual Himalayan Policy Research Conference (2019), Nepal Study Center

Himalayan Policy Research Conference

Proceedings and paper abstracts of the Himalayan Policy Research Conference (Twelfth Annual) from the Nepal Study Center. Thursday, October 17, 2019, Madison Concourse Hotel and Governor's Club, Preconference Venue of the 48th South Asian Conference at the University of Wisconsin-Madison.

Treatment Patterns And Economic Burden Of Sickle-Cell Disease Patients Prescribed Hydroxyurea: A Retrospective Claims-Based Study, Nirmish Shah, Menaka Bhor, Lin Xie, Rashid Halloway, Steve Arcona, Jincy Paulose, Huseyin Yuce

Publications and Research

Background: This study aimed to evaluate sickle-cell disease (SCD) treatment patterns and economic burden among patients prescribed hydroxyurea (HU) in the US, through claims data.

Methods: SCD patients with pharmacy claims for HU were selected from the Medicaid Analytic Extracts (MAX) from January 1, 2009 - December 31, 2013. The first HU prescription during the identification period was defined as the index date and patients were required to have had continuous medical and pharmacy benefits for ≥6 months baseline and 12 months follow-up periods. Patient demographics, clinical characteristics, treatment patterns, health care utilization, and costs were examined, and variables were …