Economics Commons^™

Iba Newsletter [February 2021], Communications Department, Office Of The Registrar

IBA News

No abstract provided.

Credit Risk Modelling For Assessing Creditworthiness For Homeowners Who Can Avail Solar On Finance At Peacock Solar, Gurugram, Niraj Kishore Chimote, Aaditya Anil Srivastava

International Review of Business and Economics

Peacock Solar is a household solar installation company based in Gurugram, Haryana. It provides hassle free installation of solar power. In an era of rising demand for renewable energy, solar power is seen as a future of energy. The markets are becoming more competitive as better technologies increase the efficiency and lower the cost of solar power. In India, solar power is in its nascent stage of development and being price sensitive markets, cost remains the bottom line of competition. The present study is an attempt to showcase the strategy adopted by Peacock solar to enhance its sales by making …

Import Restrictions By Eco-Certification: Quantity Effects On Tropical Timber Production, Matthew T. Cole, Jacqueline M. Doremus, Stephen F. Hamilton

Economics

Eco-certification standards are increasingly used by industrial countries to restrict imports of foreign goods produced using unsustainable practices. Import restrictions on eco-certified goods limit the trade of goods to the home country, but also serve to segment global demand into separate regions for conventional goods and certified goods, altering market structure and equilibrium prices in a manner that can work against sustainability goals. In this paper, we examine the effect of recent import restrictions in the US, EU, Canada, and Japan that require tropical timber products produced in Central Africa to be eco-certified. Using panel data of timber production in …

Occupational Licensing And Immigrants, Hugh Cassidy, Tennecia Dacass

Economics Faculty Scholarship

This study examines the incidence and impact of occupational licensing on immigrants using two sources of data: the Current Population Survey and the Survey of Income and Program Participation. We find that immigrants are significantly less likely to have a license than similar natives and that this gap is largest for men, workers in the highest education level, and nonnaturalized immigrants. The licensing rate increases with years since migration and shows large variation by immigrants’ region of origin. A lack of English proficiency reduces the probability that an immigrant has a license. The wage premium from having a license is …

Online #Boycotts: Consumers Calling For Accountability And Social Responsibility, Kimberly Legocki, Kristen Walker

School of Economics and Business Administration Faculty Works

No abstract provided.

Is There Any Relationship Between Child Labour, Crime Rates And Country Income Per Capita?, Cheick Wague, Nandakumar P. Warrier

International Review of Business and Economics

Child labour exists in varying degrees in virtually all countries aspiring to reach high income status. The prevalence of child labour and associated criminal activities have been portrayed in the 19th century novels of Charles Dickens, perhaps most vividly in the character ‘Fagin’ in the novel ‘Oliver Twist’. It seems clear that the early years of the industrial revolution in Britain gave rise to demand for increased child labour and also provided fertile ground for criminal activities. However, it is also evident from the experience of the high-income countries that the hallowed peaks of the development process witness an end …

An Empirical Analysis Of Dimensional Trust In Online Group Buying Sites, Varinder Sharma

International Review of Business and Economics

Building websites that generate adequate perception of ability, integrity, and benevolence dimensions of trust amongst even the first-time visitors is critically important for online group buying (OGB) sites; otherwise, visitors may be reluctant to transact. Current literature suggests that certain website features can induce overall trust perception (TP); however, their impact on specific trust dimensions has received little attention resulting in scholarly and managerial lacunae to precisely diagnose and remedy the problem with TP. To address this knowledge gap, this study first categorizes the trust-inducing features and then explores their impact on the trust dimensions of an OGB website in …

A Study On Sustainability Of Payment Banks In India Using Technology Acceptance Model, Thilak Venkatesan, Samitha Ss

International Review of Business and Economics

Payment banks are new era banks that provide limited services but with simple access. The Reserve Bank of India established it with an aim to offer remittance services to migrant labor workforce, low-income households, small businesses, and other unorganized sector entities. Awareness plays a major role in the mindset of the people towards the digitalized mode of the payment system. Payment banks are currently facing many challenges as they are not allowed to lend money. Their major source of income comes only from the interest of the government securities in which they can invest. Despite all these, payment banks are …

Impact Of Covid-19 On Stock Markets: An Investigation And Way Forward, Aaditya Trivedi, Tajinder Pal Singh, Kaushal Kishore

International Review of Business and Economics

This study analyzes the impact of the COVID-19 pandemic on stock markets in different regions of the world. Impact of COVID-19 on the stock market is like a black swan event. To analyze the impact of COVID-19 on the stock market, study includes different indices, ratios, strategies and past events to compare. Study is focused on the stock market of countries such as the United States and India to see effects on developed and developing countries. The trends were found similar worldwide. The United States, which has been a bull market for a long time, is also experiencing a plummeting …

Nebraska Corn Basis Response To Economic Shutdown, Austin Harthoorn, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management News

The objective of this article is to evaluate how Nebraska corn basis evolved through this past year’s economic events. We hope growers update their commodity price marketing decision framework as this past year exposed levels prices can reach — an important factor to consider when farm survival is on the line.

Thailand’S Trade Policies: Short Review Of Successes And Shortcomings, Nash Herman

International Review of Business and Economics

While Thailand is often considered a bastion of free trade, the Southeast Asian country has deployed a multitude of different policies that has led to Thailand’s current economic success. Thailand has generally always sought to be a modern, liberal country. Before the Asian Financial Crisis of the 1990’s Thailand saw unprecedented economic growth before the crisis and has since focused on even more liberalization measures. The paper aims to explore some of the different parts of economic theory that Thailand has implemented (both liberal and protectionist), in order to explain some of Thailand’s economic success and some possible shortcomings. The …

Efficiency Ranking Of It Service-Producing Firms: Case Of Indian Multinationals, H. D. Vinod, P. M. Rao

International Review of Business and Economics

Production functions often study the output of physical products with capital and labor inputs. Instead, we use 2004 to 2016 data for 55 In- dian multinational companies to assess the production of services. Our estimates of flexible production functions yield estimates of scale elasticity (SCE) and elasticity of substitution (EOS) for pooled data. A subset of 31 companies with relatively complete data yields their individual SCE and EOS values, revealing their heterogeneity. Sorting the 31 companies by their SCE help name scale-efficient (high SCE) and scale inefficient (low SCE) multinationals. Similarly, a listing of 31 companies sorted by EOS allows …

Significance Of Psychological Contract In Education – A Study With Special Reference To Response Of Students To Online Classes At The Time Of Lockdown Due To Covid 19., Santhosh Kv, Bhavya Vikas

International Review of Business and Economics

Psychological contracts are being studied by many researchers in the present days. This paper attempts to establish the importance of psychological contract during formal education stage, by considering the response of UG and PG students to online classes at the time of lockdown due to Covid 19. With the limited literature research it was found that many have tried to understand the benefits and pitfalls of online teaching. But the researches that establish a relationship between online education and psychological contract were found to be less explored, which is exactly what this paper attempts to do. The objectives of the …

Impact Of The Coronavirus Pandemic On Housing, Bethany L. Paris

Issue Brief on Topics Affecting Kentucky’s Economy

Wear a mask. Wash your hands. Stay home if you are sick. We have all become familiar with the CDC guidelines on staying safe during this unprecedented time. But what if you are at risk of losing your home because you are unable to pay your rent or mortgage? This is the challenge that approximately 288,000 or 10% of Kentucky households have faced throughout the past year.

Kentucky Annual Economic Report 2021, Michael W. Clark, James P. Ziliak, Simon Sheather

Kentucky Annual Economic Report

This report is one of the important ways that the Center for Business and Economic Research fulfills its mission to examine various aspects of Kentucky’s economy as directed by the Kentucky Revised Statutes (KRS 164.738). The analysis and data presented here cover a variety of topics that range from a discussion of Kentucky’s current economic climate to a broad presentation of factors affecting the economy.

The report covers numerous dimensions of Kentucky’s economy and COVID-19’s effects are evident across many of these dimensions. The pandemic brought the longest running economic expansion to an abrupt end. By April, Kentucky’s employment declined …

Kentucky's Economic Recovery, Ashli Watts, Michael W. Clark

Kentucky Economic Update

Highlights of this first release of “Kentucky Economic Update” include:

• Kentucky’s GDP bounced back during the 3rd quarter of 2020 but was still below pre-pandemic levels.
• While employment was still down 5.2% in December compared to a year ago, Kentucky has recovered 65% of jobs lost during initial months of the pandemic.
• As of December 2020, Kentucky’s unemployment rate stood at 6%, down from 16.6% in April 2020.
• Kentucky’s labor participation rate, which was 59.6% just before the pandemic dropped to 57.5% in December 2020.

Potential Benefits Of Rcep On The Philippines: Accelerating Recovery Through Trade And Other Economic Opportunities, Caesar Cororaton, Marites Tiongco, Arlene B. Inocencio

Angelo King Institute for Economic and Business Studies (AKI)

The Philippines, as a member of ASEAN, is part of the RCEP, which is the world’s largest trading block in terms of population and GDP. RCEP was signed on November 15, 2020, by 15 member countries. This policy note discusses the potential effects of RCEP on the Philippines. Using a global CGE model calibrated to the most recent GTAP 10 database, the results indicate that the Philippines will benefit from higher exports, lower consumer prices, higher factor prices, and factor incomes of households. Among the Philippine sectors, the largest positive effects are observed in electronic equipment. Interestingly, the impact on …

Depth-Weighted Forecast Combination: Application To Covid-19 Cases, Yoonseok Lee, Donggyu Sul

Center for Policy Research

We develop a novel forecast combination based on the order statistics of individual predictability when many forecasts are available. To this end, we define the notion of forecast depth, which measures the size of forecast errors during the training period and provides a ranking among different forecast models. The forecast combination is in the form of a depth-weighted trimmed mean, where the group of models with the worst forecasting performance during the training period is dropped. We derive the limiting distribution of the depth-weighted forecast combination, based on which we can readily construct forecast confidence intervals. Using this novel forecast …

Trimmed Mean Group Estimation, Yoonseok Lee, Donggyu Sul

Center for Policy Research

This paper develops robust panel estimation in the form of trimmed mean group estimation for potentially heterogenous panel regression models. It trims outlying individuals of which the sample variances of regressors are either extremely small or large. The limiting distribution of the trimmed estimator can be obtained in a similar way to the standard mean group estimator, provided the random coefficients are conditionally homoskedastic. We consider two trimming methods. The first one is based on the order statistic of the sample variance of each regressor. The second one is based on the Mahalanobis depth of the sample variances of regressors. …

Reimagining Post-Secondary Training, Community College, And Welfare Supports, Aaron Azerad

Dissertations, Theses, and Capstone Projects

This paper seeks to study the income patterns at the sub-bachelorette level through community colleges and workforce training programs. Using 2018 U.S. Census PUMA microdata, this thesis not only explores which fields of study, industries, and occupations have a sufficient number of observations to determine whether they provide incomes which are commensurate with a middle class livelihood but, also whether these jobs are plentiful in number.

The second goal is to evaluate the effects of the 1996 Personal Responsibility and Work Opportunity Reconciliation Act (the Clinton era welfare reform) and how it has influenced Giuliani era ‘work requirement’ initiatives tied …

Dealer Networks In Over-The-Counter (Otc) Financial Markets, Richmond Kyei-Fordjour

Dissertations, Theses, and Capstone Projects

This research studies a network of interdealer trading in Over-The-Counter (OTC) Financial Markets. It reviews a model of OTC interdealer trading, extends this model for suitable application to empirical studies of trading in dealer networks within OTC markets, and ultimately develops a methodology for estimating the endogenous network parameters. Finally, it applies the methodology to conduct an empirical study of the Municipal bonds market.

The Legacy Of Car-Share And Light-Rail Transit For Mobility And Accessibility Improvements In Economically Marginalized Neighborhoods In The New York Metro Area, Kyeongsu Kim

Dissertations, Theses, and Capstone Projects

This dissertation explores the value of the car-share program and a new light rail system with respect to their impact on mobility and accessibility improvements in economically and transportation access-wise marginalized neighborhoods in NYC and its adjacent communities. It consists of three main essays that took deep dives into how each new service or system altered mobility or accessibility for those in need. The first essay (Chapter 2) investigates car-share vehicle utilization rates of the Zipcar across NYC. It assesses the utilization rates by vehicle type, service location, time period, and weekday usage compared to weekend activity. With a multivariate …

Panel Threshold Regression With Unobserved Individual-Specific Threshold Effects, Ping Yu, Peter C. B. Phillips, Shengjie Hong

Cowles Foundation Discussion Papers

This paper studies the estimation and inferences in panel threshold regression with unobserved individual-specific threshold effects which is important from the practical perspective and is a distinguishing feature from traditional linear panel data models. It is shown that the within-regime differencing in the static model or the within-regime first-differencing in the dynamic model cannot generate consistent estimators of the threshold, so the correlated random effects models are suggested to handle the endogeneity in such general panel threshold models. We provide a unified estimation and inference framework that is valid for both the static and dynamic models and regardless of whether …

Borderplex Business Barometer, Volume 5, Number 2, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate, Ignacio Santana

Border Region Modeling Project

No abstract provided.

Borderplex Economic Outlook To 2022, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

The Effects Of States’ Economic Conditions On The Quality Of Public Education System, Huan Yang

Honors College Theses

Many previous researchers have looked at the effects of education on certain economic factors. However, this paper investigates the topic of education from a different perspective: using data of several economic factors for all 50 states in America from the year of 2017 and an education ranking system from U.S. News & World Report, this paper analyzes the effects of a state’s economic conditions on its quality of public education system through a cross-sectional model. Results from the analysis show that poverty rate, current expenditure per pupil, public high school graduation rate, and share of revenues for public elementary and …

The Effect Of Industrial Robots On Workplace Safety, Ling Li, Perry Singleton

Center for Policy Research

This study measures the effect of industrial robots on workplace safety at the commuting zone level, exploiting potentially exogenous variation in robot exposure due to technological progress. Workplace safety is measured by workers involved in severe or fatal accidents inspected by the Occupational Safety and Health Administration. From 2000 to 2007, we find that one additional robot in exposure per 1,000 workers decreased the OSHA accident rate at the mean by 15.1 percent. We also find that robot exposure decreased OSHA violations and accidents more likely to be affected by robot penetration, specifically those involving machinery or electrical.

Learning And The Effectiveness Of Central Bank Forward Guidance, Stephen J. Cole

Economics Faculty Research and Publications

This paper examines the link between expectations formation and the effectiveness of central bank forward guidance. A standard New Keynesian model is extended to include forward guidance shocks in the monetary policy rule. Agents form expectations about future macro-economic variables via either the standard rational expectations hypothesis or an adaptive learning model. The results show that the assumption of rational expectations overstates the effects of forward guidance relative to adaptive learning during an economic crisis. Thus, if monetary policy is based on a model with rational expectations, the results of forward guidance could be potentially misleading.

Learning By Supplying And Competition Threat, Yi-Fan Chen, Alireza Naghavi, Shin-Kun Peng

Research Collection School Of Economics

This study proposes a model of learning by supplying in an international outsourcing framework, where the supplier of a relationship-specific input can reverse engineer and become a competitor to its partner in the final goods market. Transmitting knowledge to a more capable supplier therefore creates competitive threat despite the benefits it brings within an outsourcing relationship. In particular, in markets with less differentiated products and for standard inputs that require less knowledge to be shared, choosing an intermediate capability level supplier prompts a strategic expansion of output to deter supplier entry in the final goods market, resulting in higher profits …

A Class Of N-Player Colonel Blotto Games With Multidimensional Private Information, Christian Ewerhart, Dan Kovenock

ESI Working Papers

In this paper, we study N-player Colonel Blotto games with incomplete information about battlefield valuations. Such games arise in job markets, research and development, electoral competition, security analysis, and conflict resolution. For M ≥ N + 1 battlefields, we identify a Bayes-Nash equilibrium in which the resource allocation to a given battlefield is strictly monotone in the valuation of that battlefield. We also explore extensions such as heterogeneous budgets, the case M ≤ N, full-support type distributions, and network games.