Economics Commons^™

Ukuran Pemerintah, Kualitas Institusi, Dan Pertumbuhan Ekonomi Regional Di Indonesia, Ayu Putu Arantza Bonita, Diah Widyawati

Jurnal Kebijakan Ekonomi

The implementation of fiscal decentralization has brought significant changes to the management of public finances in Indonesia. Decentralization has been empirically proven to increase the size of government (ratio of government spending to output). Good institutional quality is considered as an important factor to ensure government spending is effective and able to contribute positively to the economy. This study aims to determine whether the influence of government size on economic growth depends on the quality of the institution. The study uses the level of analysis in 491 districts / municipalities in Indonesia during 2011-2017. Using Ordinary Least Square (OLS) estimation …

Dampak Pembangunan Jalan Tol Trans Jawa Terhadap Perekonomian Daerah Kabupaten/Kota, Indra Wijaya, Muhammad Halley Yudhistira

Jurnal Kebijakan Ekonomi

Infrastructure development is one of the driving wheels of economic that have potential to drive increased production, create jobs and reduce the number of poor people. One of the government's focus on infrastructure is the construction of the Trans Java Toll Road that connects the entire Java Island from Jakarta to Surabaya. The purpose of this research is to analyze the impact of the operation of the Trans Java Toll Road which began in part since 2015, 2017, 2018 and 2019 on the Regency/Municipality economy, especially those passed by toll roads. The indicators of regional economy in this research are …

Pengaruh Kebijakan Tarif Listrik Adjustment Terhadap Konsumsi Listrik Rumah Tangga Di Indonesia, Rima Agustin, Uka Wikarya

Jurnal Kebijakan Ekonomi

In determining electricity tariffs in Indonesia, it has changed since 2015, namely by the policy of tariff adjustments or adjustments to electricity tariffs by adjusting to macro indicators namely ICP, exchange rates and inflation. This paper will examine the impact of the tariff adjustment policy on Indonesia's household electricity consumption. By using the Ordinary Least Square (OLS) regression method, the results show that the effect of electricity prices on electricity consumption is negative and insignificant, which means that the effect of changes in electricity prices on household electricity consumption is very small. From this study also added control variables from …

Analisis Faktor – Faktor Yang Mempengaruhi Konsumsi Dan Produksi Gula Menuju Swasembada Gula 2019, Rosita Riris Puspitosari, Sulastri Surono

Jurnal Kebijakan Ekonomi

Sugar is a strategic food commodity which is targeted to reach self-sufficiency in 2019 although there are many problems in the Indonesian sugar industry. Sugar self-sufficiency can be realized if domestic sugar production is able to fulfill domestic sugar demand. This study analyzes the factors that influence consumption and production of Indonesian sugar and their implications for the 2019 sugar self-sufficiency target. For white sugar, the estimation using the simultaneous equation system resulted that domestic consumption for white sugar was positively affected by previous year's consumption and domestic production of white sugar was positively affected by sugarcane area and negatively …

How Communities Can Connect Economic And Skills Development, Timothy J. Bartik, Brad J. Hershbein, Michelle Miller-Adams

Presentations

No abstract provided.

Recruitment And Retention Of Agriculture Teachers In The Southeast: An Empirical Analysis Of The Star Program., Kristie Guffey, Jeffrey Young

Faculty & Staff Research and Creative Activity

This article describes the collaborative efforts of various state and national agencies working together to recruit and retain agriculture teachers in the states of Kentucky, South Carolina, and Ohio. We contrast multiple measures of recruitment and retention in these states with those from the comparator states of Arkansas, West Virginia, and Alabama. The strategies outlined market to new agriculture teachers and maintain current teachers in the profession targeting work-life balance, emotional, physical and social health. These have been a focal point in the federal State Teach Ag Results (STAR) program, but the effects of participation in STAR on recruitment and …

Wheeling Area Economic Outlook: 2021-2025, Brian Lego, John Deskins

Bureau of Business & Economic Research

The Wheeling Area economy has seen large swings in economic activity over the past several years. Surging energy production and massive increases in pipeline construction activity fueled strong economic growth during 2017 and 2018. By contrast, the completion of pipeline projects and two large hospital closures weighed on area payrolls in 2019 before the COVID-19 pandemic dealt the regional economy a major blow in early-2020. In this report, we present a detailed discussion of the Wheeling Area economy along with our forecast for regional economic conditions for the next five years.

Frm Financial Risk Meter, Andrija Mihoci, Michael Althof, Cathy Yi-Hsuan Chen, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

A systemic risk measure is proposed accounting for links and mutual dependencies between financial institutions utilizing tail event information. Financial Risk Meter (FRM) is based on least absolute shrinkage and selection operator quantile regression designed to capture tail event co-movements. The FRM focus lies on understanding active set data characteristics and the presentation of interdependencies in a network topology. Two FRM indices are presented, namely, FRM@Americas and FRM@Europe. The FRM indices detect systemic risk at selected areas and identify risk factors. In practice, FRM is applied to the return time series of selected financial institutions …

Teres: Tail Event Risk Expectile Shortfall, Andrija Mihoci, Wolfgang Karl Hardle, Cathy Yi-Hsuan Chen

Sim Kee Boon Institute for Financial Economics

We propose a generalized risk measure for expectile-based expected shortfall estimation. The generalization is designed with a mixture of Gaussian and Laplace densities. Our plug-in estimator is derived from an analytic relationship between expectiles and expected shortfall. We investigate the sensitivity and robustness of the expected shortfall to the underlying mixture parameter specification and the risk level. Empirical results from the US, German and UK stock markets and for selected NASDAQ blue chip companies indicate that expected shortfall can be successfully estimated using the proposed method on a monthly, weekly, daily and intra-day basis using a 1-year or 1-day time …

Rhode Island Current Conditions Index -- October 2020, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Economic Vulnerabilities Of Fishing-Dependent Households Around Laguna Lake, Philippines, Rosalina Palanca-Tan

Economics Department Faculty Publications

The study characterizes the mainly subsistence fishing communities surrounding Laguna Lake and provides empirical evidence of the economic deprivation that they are experiencing using survey data. Following a multi-dimensional approach, the paper focuses on consumption expenditures as the prime indicator of economic well-being – together with assets ownership, financial behavior, and social engagements. Regression analyses are conducted to identify the factors underlying consumption and to determine how different forms of household capital (physical, financial, and social) and fishing activities affect the capacity to generate income or livelihood. The study finds that: 1) food consumption (mainly rice) accounts for half of …

Primary Reasons For Not Attending Farmers' Market. Do Market Features And Consumer Characteristics Matter?, Autumn Milliner

Masters Theses & Specialist Projects

The number of farmers’ markets has been growing, but consumer attendance does not appear to rise at the same rate. The overall purpose of this study was to investigate primary reasons for not attending. Specific objectives were: (1) describe the consumer characteristics of individuals who do not attend farmers’ markets (2) investigate the consumer characteristics and market amenities that influence a consumer’s choice to not attend a farmers market (3) estimate the variables that impact a consumer’s level of interest in subscribing to a CSA and (4) assess and estimate the relationship between consumer characteristics and their willingness to pay …

Why Is Dishonesty Difficult To Mitigate? The Interaction Between Descriptive Norm And Monetary Incentive, Arnab Mitra, Quazi Shahriar

Economics Faculty Publications and Presentations

We examine whether changes in perceived norm of dishonesty can offset the effects of changes in benefit from the dishonest action. We find partial support for the hypothesis in laboratory experiments on lying behavior in a cheap-talk sender-receiver game, conducted in two countries. In the experiments, we vary benefit from lying and shift senders’ norm perception by providing them information on lying from prior sessions. The findings suggest that senders adjust their perceived norm as expected, but they respond to norm in a somewhat self-serving manner. Specifically, when benefit from lying is lowered but senders are induced to believe in …

Understanding Unemployment Statistics (Activity), Tom Martin

Open Educational Resources

When you see unemployment statics in the news – such as, “unemployment rises to 11%” – are you certain that you are interpreting them correctly? This short activity will help you to understand unemployment statics in all of their nuance and complexity.

Has Anheuser-Busch Let The Steam Out Of Craft Beer? The Economics Of Acquiring Craft Brewers, Kenneth G. Elzinga, Alexander J. Mcglothlin

Institute for the Study of Free Enterprise Working Papers

The craft beer segment in the U.S. has grown from a meager 20 brewers in the 1980s to over 7,000 today and is approaching a 15% market share. Macrobrewers initially responded by internal product differentiation but then began acquiring craft brewers, provoking concerns about the continuing viability of independent, local brewers. We analyze the economic consequences of the most prominent of these acquisitions: the Anheuser-Busch InBev (ABI) purchase of Goose Island in 2011. Using variation in pre-acquisition ABI market share to account for the effects of the distribution tier in the beer industry and the influence of macrobrewers on the …

Federal Student Loan Servicing Accountability And Incentives In Contracts, Rajeev Darolia, Andrew Sullivan

Institute for the Study of Free Enterprise Working Papers

Student loan servicers play a critical and underappreciated role in federal student loan programs. The federal government contracts out to servicers an array of many of the most critical functions related to student loan repayment, including account management, payment processing, and the provision of information about payment plans and solutions for distressed borrowers. In fact, most borrowers’ interactions with federal student loan repayment are almost exclusively with their servicer. We aim to improve upon the scarce research literature about federal student loan servicers by exploring the complicated set of measures that determine how servicers are compensated for servicing each debtor …

Measuring The Spread Of Covid-19 In Kentucky: Do We Have The Right Data?, Kenneth R. Troske, Paul A. Coomes

Institute for the Study of Free Enterprise Working Papers

We examine various measures of COVID-19 infections, hospitalizations and deaths, with an emphasis on data for Kentucky. We find that: Data on the number of new reported cases of the disease obtained from convenience samples (as opposed to representative random samples) is an inaccurate measure of the spread of the disease in the State. Using CDC data and national studies, it appears that there were ten times the number of infections in March than reported for Kentucky at the time and by September the State is still capturing only one out of two people infected.

A better measure of new …

Discovering The Relationship Between Investor Attention And Trade Volume In The Philippine Stock Exchange Using Google Search Analysis, Patrick Allan G. Morando, Isabel Louise D. Banico, Martin Stevens C. Ng, Riggs Mattieu M. Villardo

Angelo King Institute for Economic and Business Studies (AKI)

This study investigates the relationship between daily Google search volume and trade volume in the Philippine Stock Exchange. This is completed by employing a sample consisting of listed stocks in the Philippine Stock Exchange from 2015 to 2019 and testing the veracity of three different keyword categories in proxying investor attention. The empirical results indicate that when using company names and stock tickers as Google search keywords, there is a strong positive relationship between Google search volume and trade volume. This implies that the more investors search for a stock’s company name or ticker, the more likely that there will …

Paso Del Norte Economic Indicator Review, October, Hunt Institute For Global Competitiveness

Technical Reports

No abstract provided.

The Effects Of Economic And Political Globalization On Level Of Democracy, Julianna R. Pestretto

Student Publications

Since the birth of the nation state, we have been undergoing a process called globalization. Simply put, globalization is the process of interaction and integration among the people, companies and governments of different nations. It is a process driven by trade and investment and supported by economic partnerships and institutions. As time goes on, the effects of globalization have become more intense, and are felt disproportionately across nations and socio-economic levels, resulting in a backlash that has been largely characterized by the rise of right-wing populism. It is thus important to study the effects that globalization has on level of …

Unparalleled Opportunities Or Unmitigated Risk? Economic Globalization And Its Impact On State Capacity In The Developing World, John M. Zak

Student Publications

Economic globalization is a phenomenon driving major developments in the international system. With the force of this phenomenon shaping events within states and interactions among them, the question of economic globalization’s impact on state capacity is worthy of an in-depth analysis. In this work I use economic globalization as the central explanatory variable and state capacity as the dependent variable and seek to establish an empirical relationship between the two that will offer the social science community a better understanding of how this phenomenon is shaping state capacity in developing countries. Based on available scholarship, I argue that economic globalization …

Greening Inequality: How Urban Sustainable Development Fails Under Neoliberalism, Josie R. Allison

University Honors Theses

Despite its banner of common-good altruism, urban sustainable development becomes a branding scheme for municipalities when it operates under and prioritizes a neoliberal agenda. Neoliberalism is the dominant economic philosophy within the United States, and other western economies, that emphasizes extreme economic liberalism and open markets with public fiscal austerity and the diminished role of governments. This has transferred a great portion of power and funding once held by the public sector into the hands of the private sector. Under neoliberalism, city governments function with stripped federal funding and limited budgets, while leaning on private companies for public operations, like …

The Effects Of Medicare Payment Changes On Nursing Home Staffing, Daifeng He, P. Mchenry, J. M. Mellor

Economics Faculty Works

In light of persistent shortcomings in nursing home care quality and evidence that lower nurse staffing levels could be harmful to residents, we examine whether staffing levels are affected by changes in Medicare reimbursement rates. We exploit a 2006 change in Medicare’s methodology for adjusting provider payments for geographic differences in costs, a change that generated plausibly exogenous variation in nursing facility reimbursement rates. Our method compares facilities with higher and lower shares of Medicare resident days, which were differentially exposed to the payment changes we examine. Using panel data on US nursing homes from 2003 through 2009, we find …

Simulating Covid-19 In A University Environment, P. T. Gressman, Jennifer R. Peck

Economics Faculty Works

Residential colleges and universities face unique challenges in providing in-person instruction during the COVID-19 pandemic. Administrators are currently faced with decisions about whether to open during the pandemic and what modifications of their normal operations might be necessary to protect students, faculty and staff. There is little information, however, on what measures are likely to be most effective and whether existing interventions could contain the spread of an outbreak on campus. We develop a full-scale stochastic agent-based model to determine whether in-person instruction could safely continue during the pandemic and evaluate the necessity of various interventions. Simulation results indicate that …

A Panel Data Model With Generalized Higher-Order Network Effects, Badi Baltagi, Sophia Ding, Peter Egger

Center for Policy Research

Many data situations require the consideration of network effects among the cross-sectional units of observation. In this paper, we present a generalized panel model which accounts for two features: (i) three types of network effects on the right-hand side of the model, namely through weighted dependent variable, weighted exogenous variables, as well as weighted error components, and (ii) higher-order network effects due to ex-ante unknown network-decay functions or the presence of multiplex (or multi-layer) networks among all of those. We outline the model, the basic assumptions, and present simulation results.

Mexico Consensus Economic Forecast, Volume 23, Number 4, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate

Border Region Modeling Project

No abstract provided.

Las Cruces Housing Price Fluctuations: 1971-2017, Steven L. Fullerton, James H. Holcomb, Thomas M. Fullerton Jr.

Border Region Modeling Project

This study analyzes the median price for existing single-family housing units in Las Cruces, New Mexico. The proposed theoretical model accounts for the interplay between supply and demand sides of a metropolitan housing market. Explanatory variables used in the analysis are real per capita income, the housing stock, real mortgage rates, real apartment rents, and the median real price of single-family units in the United States. Annual frequency data are collected for a 1971-2017 sample period. Parameter estimation is completed using two stage generalized least squares. Empirical results confirm several, but not all, of the hypotheses associated with the underlying …

A Spatial Stochastic Frontier Model With Endogenous Frontier And Environmental Variables, Levent Kutlu, Kien C. Tran, Mike G. Tsionas

School of Economics and Finance Faculty Publications

We propose a spatial autoregressive stochastic frontier model, which allows for the endogeneity in both the frontier and environmental variables (i.e., endogeneity due to correlation of inefficiency term and the two-sided error term). The model parameters are estimated using a single-stage control function approach. Monte Carlo simulations show that our proposed model and approach perform well in finite samples. We employed our methodology to the Chinese chemicals firm data and found evidence for both spatial effects and endogeneity.

Tournament-Based Incentives And Mergers And Acquisitions, Nam H. Nguyen, Hieu V. Phan, Hung V. Phan, Dung T. T. Tran, Hong Vo

School of Economics and Finance Faculty Publications

This research examines the relation between tournament-based incentives, which are proxied by the difference between a firm’s CEO pay and the median pay of the senior managers, and mergers and acquisitions (M&As). We find that tournament-based incentives are positively related to firm acquisitiveness and acquiring firms’ stock and operating performance. Further analysis indicates that positive acquisition performance increases the likelihood of the CEO being promoted from inside the acquiring firm. Our evidence is consistent with the view that tournament-based incentives motivate acquiring firms’ managers to make greater efforts and take more risk that result in superior acquisition performance.

Covid-19 Pandemic And Nepal: Issues And Perspectives, Basu Sharma, Ambika P. Adhikari

Himalayan Research Papers Archive

Asta-Ja USA and Asta-Ja RDC published the book “Issues and Perspective on the Covid-19 and Nepal” in December 2020. Edited by Basu Sharma and Ambika P. Adhikari, the book contains 12 papers by 17 authors. The 173-page book is a part of Asta-Ja’s Occasional Paper Series and addresses some of the key impacts of the ongoing Covid-19 pandemic in Nepal, and proposes some policy recommendations to mitigate those impacts. The book covers the areas of how agriculture, food production, employment, urban planning, economy, public health and research activities are impacted by the Covid-19 pandemic. The authors review the pandemic’s impact …