Economics Commons^™

Macroeconomic Modelling Towards Achieving Sustainable Development Goal-13 In India, Aqib Mujtaba Dr., Pravakar Sahoo Dr., Pabitra Kumar Jena Dr.

Bulletin of Monetary Economics and Banking

This study develops a macroeconomic model to examine the relationships between the energy sector, economic growth and the environment in India over the period 1971 to 2021. Aligning with the United Nations SDG-13 and using the Seemingly Unrelated Regression Equation (SURE) model, we find that the services and agriculture sectors, non-renewable energy consumption, government expenditure, money supply, carbon dioxide emissions per capita, inflation, and population are crucial factors. The services sector and government spending notably impact economic growth and environmental degradation due to increased energy demand and emissions.

How Influential Are Digital Technologies On Good Governance And Quality Institutions In Asean?, Ismail Aremu Muhammed, Ahmed Masood Khalid, Gamini Premaratne

Bulletin of Monetary Economics and Banking

How do Digital Technologies (DT) affect the quality of governance and institutions in ASEAN? We address this question through employing a panel data technique on 10 ASEAN countries over the period between 1996 and 2022. The findings reveal that DT are influential in the quality of governance and institutions in these countries. Specifically, fixed broadband subscriptions, individuals using the internet, and mobile cellular subscriptions are vital in promoting good governance and quality institutions in ASEAN. Moreover, government effectiveness and rule of law responded and improved more significantly with the development of DT. It was concluded that effective government policy and …

Ai Integration And Digital Regulation: Impacts On Global Trade In Digital Services, Srividhya M, Ravi Kiran Reddi

Bulletin of Monetary Economics and Banking

This study investigates the impact of AI readiness and digital laws on Digitally Deliverable Services (DDS) exports, utilizing a comprehensive dataset that includes developed and developing economies, as well as various global regions. The analysis reveals that AI readiness significantly enhances DDS exports across both developed and developing countries, with notable regional variations. Higher gross national income per capita and larger population sizes are consistently positive factors, while the effects of ITA membership and digital laws, such as cybercrime and consumer protection regulations, vary by region. These findings underscore the importance of tailored policy interventions to enhance DDS exports, considering …

Does Climate Change Impacts Output? An Empirical Evidence From Asia Pacific Countries., Chinmaya Behera Dr., Ranjan Kumar Mohanty Dr., Biswashree Tanaya Priyadarsini Ms., Debasis Patnaik

Bulletin of Monetary Economics and Banking

The study examines the nexus between output, Gross Domestic Product (GDP), renewable energy, trade openness, carbon emission, and foreign direct investment in Asia Pacific countries Using the autoregressive distributed lag model and yearly data from 1990 to 2021, we find (a) a long-run relationship among the variables under consideration, (b) that GDP positively impacts output in most countries, (c) that CO2 and renewable energy display varied effects, and (d) in the short run, GDP and trade openness generally exert a positive influence, but GDP demonstrates a mix of positive and negative impacts. Policymakers need to provide stable policies for environmental …

Climate Change Demands Free Markets, Glen Lyons

Journal of New Finance

William Nordhaus won a Nobel Prize for work on the economics of climate change. He advocated for the government policy of carbon pricing arguing that climate is a public good, free riders undermine action, there are unpriced negative externalities, and individuals can’t slow climate change. Nordhaus assumes that climate science is certain enough to design effective policy. This paper challenges that thinking and shows that individuals can and ARE slowing climate change. I will also review the risks of government policy, highlight the uncertainty in present day climate science, and conclude by showing that free markets are the best “policy”.

The Impact Of Financial Inclusion On Inflation In The Mena Region: Oil Vs Non-Oil Countries, Jailan Elsaid

Theses and Dissertations

The study examines the impact of financial inclusion on inflation as a tool for monetary policy effectiveness in the MENA region, separating the analysis into oil and non-oil countries from 2004 to 2022. The Principal Component Analysis (PCA) technique is used to create a multidimensional index of financial inclusion through usage and access dimensions. Additionally, PVAR GMM estimation and Granger causality tests are implemented to analyze the dynamics and causality between financial inclusion and inflation, while controlling for other variables such as broad money, real effective exchange rate, and real GDP growth, which may influence the relationship according to the …

Short-Run Economic Effects Of Michigan's State-Funded Preschool Programs, Timothy J. Bartik

Upjohn Institute Policy Papers

This policy paper estimates the short-run economic effects of the Great Start Readiness Program (GSRP), Michigan’s state-funded preschool program for 4-year-olds. The paper considers 15year effects on state residents’ per capita incomes due to impacts on employment rates and real wages, as well as cost-savings from free preschool and fiscal benefits due to tax base expansion. These 15-year effects ignore the program’s outcomes for child participants and focus on how the Michigan economy is affected by GSRP’s direct impacts on parents and preschool teachers. The estimates use a regional econometric model of a state’s economy, developed originally to evaluate economic …

Oshtemo Township Housing Plan 2023, Emily Petz, Dakota Mccracken, Gerrit Anderson, Lee Adams, Brian Pittelko

Reports

No abstract provided.

From Home To Abroad: The Intergenerational Impact Of Household Member Migration On Women’S Economic & Social Empowerment In Egypt, Menna Elgohary

Theses and Dissertations

This thesis investigates to what extent the migration of a household member to an Arab country leads to increased social and economic empowerment among Egyptian women of two age categories (15-35 and +35) over two waves. Determined through Principle Component Analysis (PCA) of panel data from Egypt Labor Market Panel Surveys in 2018 and 2023, composite indices of social and economic empowerment serve as dependent variables in an IV 2SLS regression model. The model assesses whether household member migration, proxied by migration prevalence on the district (qism) level as an IV, causes a significant increase in social and economic empowerment …

Internet Penetration And Firm Innovation In The Digital Era: A Sectoral Analysis Of U.S. Firms, Mariam Elgarf

Theses and Dissertations

This paper studies the effect of macro-level internet penetration on firm-level innovation in the United States, proxied by research and development expenditure. The IV approach is used to address the problem of potential endogeneity, covering data from 2000 to 2022 across five super industries: consumer goods and retail, energy and electricity, media and entertainment, financial services, and technology and telecommunications. The results show that internet penetration has a positive effect on the innovative performance of all sectors; however, this effect is more pronounced in the financial service and media sectors. Firm-specific characteristics also influence this relationship, such as debt-to-assets ratio, …

Does Bank Expansion Reduce Domestic Violence? Causal Evidence From India, Rikhia Bhukta, Chandan Kumar Jha, Rikhia Bhukta, Ashish K. Sedai K. Sedai

Economics Faculty Works

Multiple studies have shown that dowry payments are among the main causes of domestic violence in developing countries. This paper studies the effects of banking expansion on dowry payments and domestic violence in India. Using a fuzzy regression discontinuity design, we present robust evidence that financial inclusion brought about by banking expansion reduces dowry-related deaths and cruelty by husbands. We propose two primary mechanisms underlying this relationship. First, banking expansion enhances the ability of the bride's family to make higher cash payments and more wedding gifts to the groom's family at the time of marriage, often known as dowry. Second, …

The Effect Of Education Policy On Crime: An Intergenerational Perspective, Ulrika Ahrsjö, Costas Meghir, Mårten Palme, Marieke Schnabel

Cowles Foundation Discussion Papers

We study the intergenerational effect of education policy on crime. We use Swedish administrative data that links outcomes across generations with crime records, and we show that the comprehensive school reform, gradually implemented between 1949 and 1962, reduced conviction rates both for the generation directly affected by the reform and for their sons. The reduction in conviction rates occurred in many types of crime. The key mediators of this reduction in child generation are an increase in education and household income and a decrease in crime among their fathers.

The Role Of Personality And Late-Life Categorical Spending Regret, Blain Pearson, Thomas Korankye, Sarah Asebedo

Finance and Economics

This study examines the association between the big five “OCEAN” personality traits and late-life categorical spending regret. The categorical spending regrets examined are housing, food, clothing, appliances/furnishings, cars, leisure, child-related expenses, and providing financial help. Openness was associated negatively with spending regret on food. Conscientiousness was associated positively with spending regret on appliances/furnishings and cars. Extraversion was associated negatively with spending regret on food, cars, and providing financial help. Agreeableness was associated positively with spending regret on food, clothing, leisure, and providing financial help. The results for Neuroticism indicated no statistically significant association between the OCEAN personality traits and the …

Digital Ecosystems And Data Regulation, Andrew Rhodes, Jidong Zhou, Junjie Zhou

Cowles Foundation Discussion Papers

This paper provides a framework in which a multiproduct ecosystem competes with many single-product firms in both price and innovation. The ecosystem is able to use data collected on one product to improve the quality of its other products. We study the impact of data regulation which either restricts the ecosystem's cross-product data usage, or which requires it to share data with small firms. Each policy induces small firms to innovate more and set higher prices; it also dampens data spillovers within the ecosystem, reduces the ecosystem's incentive to collect data and innovate, and potentially increases its prices. As a …

Supply Chain Disruptions, Supplier Capital, And Financial Constraints, Ernest Liu, Yukun Liu, Vladimir Smirnyagin, Aleh Tsyvinski

Cowles Foundation Discussion Papers

We study the impact of supply chain disruptions on U.S. firms based on the universe of seaborne shipment-level import transactions from 2013 to 2023. The granularity of the data allows us to build an index of firm-level disruptions of international suppliers and introduce a comprehensive set of stylized facts for supply chain relationships in the cross-section of firms. We build a general equilibrium heterogeneous firms model with two types of capital stocks—physical and international supplier capitals. Accumulation of supplier capital is an important endogenous margin of adjustment, and limiting this ability substantially delays recovery, especially in financially constrained firms.

The Economy, Emotions, And Japanese City Pop In The 1980s, Paige Drummond

CAFE Symposium 2025

This project contains research about the topics of economy, emotions, music, urbanization, and Japanese City Pop all during the 1980s. It shows the connections between all of these subjects and how they relate back to the City Pop genre. Common themes of City Pop songs are also explored and delved into by comparing songs and analyzing their lyrics, melodies, and topics.

The Economics Of Large Language Models: Token Allocation, Fine-Tuning, And Optimal Pricing, Dirk Bergemann, Alessandro Bonatti, Alex Smolin

Cowles Foundation Discussion Papers

We develop an economic framework to analyze the optimal pricing and product design of Large Language Models (LLM). Our framework captures several key features of LLMs: variable operational costs of processing input and output tokens; the ability to customize models through fine-tuning; and high-dimensional user heterogeneity in terms of task requirements and error sensitivity. In our model, a monopolistic seller offers multiple versions of LLMs through a menu of products. The optimal pricing structure depends on whether token allocation across tasks is contractible and whether users face scale constraints. Users with similar aggregate value-scale characteristics choose similar levels of fine-tuning …

Optimal Pricing Of Cloud Services: Committed Spend Under Demand Uncertainty, Dirk Bergemann, Michael C. Wang

Cowles Foundation Discussion Papers

We consider a seller who offers services to a buyer with multi-unit demand. Prior to the realization of demand, the buyer receives a noisy signal of their future demand, and the seller can design contracts based on the reported value of this signal. Thus, the buyer can contract with the service provider for an unknown level of future consumption, such as in the market for cloud computing resources or software services. We characterize the optimal dynamic contract, extending the classic sequential screening framework to a nonlinear and multi-unit setting. The optimal mechanism gives discounts to buyers who report higher signals, …

How Even Luxury Housing Can Help Solve The Housing Shortage, Kathleen Bolter

Reports

No abstract provided.

Geoffrey Harcourt Et Al., Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Letter to Harcourt asking for comments on a paper Shaikh was submitting to The Review of Economics and Statistics (May 31, 1972)

• Letter from Harcourt discussing Shaikh’s paper and mentioning his book The Cambridge Controversies (July 20, 1972)

• Letter to Harcourt thanking him for his comments on Shaikh’s paper (October 11, 1972)

• Letter requesting a copy of Shaikh’s Transformation paper (May 31, 1973)

• Letter from Harcourt stating that with some editing, Shaikh’s paper would be published in Australian Economic Papers (May 14, 1974)

• Letter from Harcourt announcing …

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Joan Robinson Et Al. 1, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Letter from Joan Robinson discussing Shaikh’s paper on trade and Ricardo’s theory of profits

• Letter from Robinson discussing publication possibilities and agreeing with Shaikh’s “humbug” thesis (July 5, 1972)

• Letter to Robinson discussing the paper’s submission to The Review of Economics and Statistics and Franklin Fisher’s letter (October 13, 1972)

• Letter from Robinson discussing Fisher’s misplaced faith and micro system (October 25, 1972)

• Letter from Robinson discussing Shaikh’s article on the transformation problem and recommending submission to The Economic Journal where she had influence (May 23, 1973)

• Letter from …

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El Humor, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Comic titled Salón de Dibujos Humorísticos

• Notes in Spanish about humor and Cuba

Joan Robinson Et Al. 2, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Letter to Bertram Schefold discussing travel expenses and an honorarium

• Postcard from Ei Nagakudo(?) thanking Shaikh for his political economy classes and recommending an internship at the UN (3/18/98)

• Card from Mara Kaufman thanking Shaikh for allowing her to sit in on one of his political economy courses

• Flyer for the New School featuring Shaikh

• Watercolor painting

• Letter from Diana

• Receipt for a $10 submission fee for the paper The So-Called ‘Transformation Problem’: Marx Vindicated

• Flyer for Karl Marx’s birthday with lyrics for The International

• Flier advertising a Karl Marx pub crawl (5/1/99)

• Excerpt from Karl Liebknecht’s …

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Greek & Lustig, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Greek newspaper article featuring an interview with Prof. Shaikh with the headline “There is no apparent overcoming of the crises” (October 5, 2008)

• Letter to Nora Lustig in Mexico City discussing Shaikh’s plans for the next year, his current difficulties in learning Spanish, and his plans to work on his book during a planned leave of absence; he also accepts Lustig’s invitation to a conference in Mexico City (March 27, 1979)

Ias Nsf Proposals, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• A project proposal submitted to the Institute for Advanced Study (February 1981).

• A research proposal submitted to the National Science Foundation (December 10, 1976) with a budget and Professor Shaikh’s CV.

Robust Pricing For Cloud Computing, Dirk Bergemann, Rahul Deb

Cowles Foundation Discussion Papers

We study the robust sequential screening problem of a monopolist seller of multiple cloud computing services facing a buyer who has private information about his demand distribution for these services. At the time of contracting, the buyer knows the distribution of his demand of various services and the seller simply knows the mean of the buyer’s total demand. We show that a simple “committed spend mechanism” is robustly optimal: it provides the seller with the highest profit guarantee against all demand distributions that have the known total mean demand. This mechanism requires the buyer to commit to a minimum total …

The Parenthood Gap: Firms And Earnings Inequality After Kids, Rebecca Jack, Daniel Tannenbaum, Brenden Timpe

Upjohn Institute Working Papers

We document the dynamics of career paths around parenthood, capturing worker advancement within firms and across firms with differing pay rates. Using a new linkage between administrative data on U.S. workers’ fertility and labor market histories, we show that the parental earnings gap is partly explained by mothers transitioning to lower-paying firms. Firm downgrading is driven by parents who take an extended absence from the labor force. Mothers who move to lower-paying firms see improved job amenities but less generous fringe benefits. The firm’s contribution to the parental earnings gap rises over time and reaches one-third by the child’s 11th …

"Long-Run Peer Effects And Promotion: Evidence From 70-Plus Years Of Career Records In Japan, Natsuki Arai, Nobuhiko Nakazawa

Economics Faculty Publications

Arai and Nakazawa estimate long-term peer effects in the workplace by investigating whether working with a future executive makes junior employees more likely to be promoted. Using data on career history at the Japanese central administration from 1946 to 2019, we find that long-term peer effects are substantial and persistent—junior employees who work with a future executive during the first 5 years of their employment are more likely to be promoted to top executive than employees who do not. The empirical results are consistent with the mechanisms of increased human capital, the formation of social connections, and a reduction in …

Correspondence, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• New Year card from Vojo Franičević (December 20, 1979)

• Letter from Paul Zarembka thanking Shaikh for sending his paper but declining its publication (June 21, 1978)

• Letter from Walter H. Lippincott, Jr. regarding Cambridge University Press’s decision to cancel the contract with Professor Nell for the publication of Growth, profits, and property (May 25, 1979)

• Message from Sidney J. Gluck to the department registrar regarding a registration issue (February 28, 1979)

• Letter from Craufurd D. Goodwin rejecting Shaikh’s paper on the transformation problem (January 25, 1974)

• From Goodwin: “Referee’s comments on ‘The so-called transformation problem: Marx vindicated’” …

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Personal Correspondence, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Postcard from Ellen Streger showing an ironic picture of a Mustang and roadside diner, and another showing the cover of a vintage book.

• Postcard from María José showing Rothko 1268.67 with a message of love (July 27, 1999).

• Postcard from Nagakubo in the UK thanking Shaikh for his contribution and wishing him well.

• Letter from Ewen Streger expressing condolences.

• Postcard from Ellen.

• Postcard from Ellen with cat faces illustrating her reactions to being secretary of a conference, along with a note and Polaroid black-and-white film.

• Postcard from Jennifer and Alex showing the kitchen at Graceland, discussing their …

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