Income Distribution Commons^™

Eastern Economic Association Conference, Anwar Shaikh Phd

Archives of Anwar Shaikh

as an archivist detailing a new entry, analyze the uploaded file and give an outline of the material with all dates standardized, all bullet-point item formatting, and sentence case for titles, and italics for all titles, 1.5 spacing between paragraphs, and expand the published items into full apa references with publisher details and journal information but without internet links, or any further description of the different items, standardize the handwritten notes, emails, and comments into full apa-style manuscript citations so they match the level of formality of the published papers, with all handwritten notes credited to anwar shaikh, phd unless …

A New Approach To Measuring Poverty In The United States: A Household's Ability To Consume, David Ashelman

Applied Economics Theses

The definition of poverty is a social construct. As such, quantitatively measuring poverty is problematic, and creates ineffective poverty-alleviation policy. This thesis examines the historical measure of poverty in the United States, compares U.S. poverty measurements to Great Britain and Canada, and then proposes a new way to measure poverty. Instead of measuring income as the defining factor of poverty, the new poverty measurement suggested eliminates income factors and focuses on a household’s ability to consume in a non-comparative manner. When quantifying a household’s ability to consume, implications arise in economic policy for anti-poverty programs, defining the middle class, minimum …

Econophysics Papers, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2014, October 3). Inequality and social structure: Comments on Piketty [Lecture notes, heavily annotated manuscript with handwritten marginalia throughout]. Department of Economics, New School for Social Research. Prepared for presentation; notes "to appear in" Shaikh, A. (2016). Capitalism: Real competition, turbulent dynamics, and global crises. Oxford University Press. [Two versions present in folder: one clean typescript with yellow highlighting, one heavily annotated copy with handwritten notes credited to Anwar Shaikh, Ph.D., and audience notes in additional hands including names "Dennis Badeen," "Tom," and "Elyseum"; annotations include economic formulae, timing cues, and marginal commentary. Accompanied …

Inequality Pyramid, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (September). Wicksell effect (Unpublished manuscript).
• Shaikh, A. (September). Inequality pyramids (Unpublished manuscript).

Economic Voting, Sociotropic Vs. Checkbook: Cases From Greece And Germany, Matthew Coen-Tuff

Political Science Theses and Capstones

Economic voting, the theory that when the economy is good the party in control gains support and when the economy is bad the party in power suffers. This is a simplistic definition and economic voting is so much more. In this paper I seek to prove how economic voting can be broken down into two categories, sociotropic and checkbook. I do this by looking at two countries in very different situation. Greece is a country going through economic turmoil and is constantly changing which party is in control of the government. It has been suffering especially hard from a debt …

Food Imports Under Foreign Exchange Constraints In The Cfa’S Franc Zone Of Sub-Saharan Africa (Ssa), Seydina Ousmane Sene

Theses and Dissertations--Agricultural Economics

To respond to the high imported food prices in their domestic markets, net food importing countries in the Communauté Financière Africaine (CFA) zone^[1] are adjusting their import tariffs and homologate domestic prices of imported commodities such as rice, wheat, maize, and sugar. This research uses a multivariate specification of error correction model (VECM) of estimation to investigate the link between food imports, world price index of rice, wheat, maize and sugar, real effective exchange rates, domestic food production, GDP, and trade openness in the short and long run. The data are on each homogenous commodity from 1969 to 2012. …

Short-Term Inflation Forecasting Models For Nigeria, Sani I. Doguwa, Sarah O. Alade

CBN Journal of Applied Statistics (JAS)

Short-term inflation forecasting is an essential component of the monetary policy projections at the Central Bank of Nigeria. This paper proposes four short-term headline inflation forecasting models using the SARIMA and SARIMAX processes and compares their performance using the pseudo-out-of-sample forecasting procedure over July 2011 to September 2013. According to the results the best forecasting performance is demonstrated by the model based on the all items CPI estimated using the SARIMAX model. This model is, therefore, recommended for use in short-term forecasting of headline inflation in Nigeria. The forecasting performance up to eight months ahead, of the models based on …

An Efficient Two Sample Capture-Recapture Model With High Recaptures, Danjuma Jibasen, Yusuf J. Adams

CBN Journal of Applied Statistics (JAS)

This paper proposed an efficient two sample capture-recapture model (Ma) with high recaptures and compared it with the existing models like the model of no factor effect (Mo), behavioral response model (Mb) and the Petersen model (Ms), using simulated data. We found that the Petersen model provides a better estimate of the population size when the observations follow a hypergeometric distribution and the population is overestimated when recapture is high. It was also found that the proposed model provides a better estimator of the population size than the existing ones when the recapture is high. This model is particularly useful …

Causal Relationship Between Stock Market Index And Exchange Rate: Evidence From Nigeria, Abdulrasheed Zubair

CBN Journal of Applied Statistics (JAS)

This paper uses Johansen’s cointegration to test for the possibility of cointegration and Granger-causality to estimate the causal relationship between stock market index and monetary indicators (exchange rate and M2) before and during the global financial crisis for Nigeria, using monthly data for the period 2001–2011. Results suggest absence of long-run relationship before and during the crisis. The Granger-causality tests show a uni-directional causality running from M2 to ASI before the crisis while during the period of the crisis there is absence of causality between the variables. This suggests that ASI show responsiveness to M2. Thus, absence of the direct …

Investigating Chaos In The Nigerian Asset And Resource Management (Arm) Discovery Fund, Ibiyinka A. Fuwape, Samuel T. Ogunjo

CBN Journal of Applied Statistics (JAS)

This paper investigates chaos in a Nigerian mutual fund, Asset and Resource Management Company Limited (ARM) for a period of eleven years. The existence of chaotic signals in the data was identified by the reconstruction of the phase space of the daily closing price of the fund and the delay time was quantified using mutual information function and the embedding dimension by the false nearest neighbours, where the values were identified to be 15 and 20 respectively. The presence of chaotic signals in the ARM data was further confirmed by the correlation dimension method which yielded a dimension of 2.2 …

Modeling The Nigerian Inflation Rates Using Periodogram And Fourier Series Analysis, Chukwuemeka O. Omekara,, Emmanuel J. Ekpenyong, Micheal P. Ekerete

CBN Journal of Applied Statistics (JAS)

This work considers the application of Periodogram and Fourier Series Analysis to model all-items monthly inflation rates in Nigeria from 2003 to 2011. The main objectives are to identify inflation cycles, fit a suitable model to the data and make forecasts of future values. To achieve these objectives, monthly all-items inflation rates for the period were obtained from the Central Bank of Nigeria (CBN) website. Periodogram and Fourier series methods of analysis are used to analyze the data. Based on the analysis, it was found that inflation cycle within the period was fifty one (51) months, which coincides with the …

Nigerian Stock Index: A Search For Optimal Garch Model Using High Frequency Data, Olaoluwa Simon Yaya

CBN Journal of Applied Statistics (JAS)

This paper attempts to fit the best Generalized Autoregressive Conditional Heteroscedastic (GARCH) model for All Share Index (ASI) of Nigerian Stock Exchange (NSE) returns. A search is made on various GARCH variants specified on the assumptions of stationarity and asymmetry. Fractionally integrated types are also considered to capture the possibility of return series having property of long range dependency. The parameter estimations are carried out on the assumptions of normality and non-normality of GARCH innovations, with models and forecasts evaluated using information criteria and loss functions respectively. Under normality assumption, Hyperbolic GARCH (HYGARCH(1,d,1)) model is selected and Integrated GARCH (IGARCH(1,1)) …

Time Series Modeling Of Nigeria External Reserves, Iheanyichukwu S. Iwueze, Eleazar C. Nwogu, Valentine U. Nlebedim

CBN Journal of Applied Statistics (JAS)

This paper discusses the levels and trend of external reserves in Nigeria. The relevance of this lies in the fact that it could help to monitor the reserves and throw early warning signal about any economic crisis. Monthly data on Nigeria external reserves for the period January 1999 to December, 2008 derived from the 2008 CBN Statistical Bulletin was analyzed using ARIMA model. Results of the analyses show that (i) the data requires logarithmic transformation to stabilize the variance and make the distribution normal (ii) the appropriate model that best describes the pattern in the transformed data is the Autoregressive- …

A Markov Decision Process Approach To Optimal Control Of A Multi-Level Hierarchical Manpower System, Akaninyene U. Udom

CBN Journal of Applied Statistics (JAS)

A recurrent problem in manpower control is how to attain the desired structural configuration in an optimal way, since it is possible to reach a desired structural configuration using different control inputs. The major aim of this paper is to develop a Markov Decision Process for optimal control of a Multi-level Hierarchical Manpower System (MHMS) by promotion and interdepartmental transfers. This is examined under control by intervention and contraction cost Markov Decision Process.

Project-Based Section 8 Housing Participants' Perception Of Cultural And Structural Factors To Explain Barriers To Economic Self-Sufficiency, Yolanda Javette Clark

Dissertations

The Project-Based Section 8 program began as temporary housing of the last resort for people who experience temporary setbacks. However, due to participants' inability to become economically self-sufficient, the anti-poverty program has become permanent housing from which few families have been able to escape. Recent studies related to escaping poverty and becoming economically self-sufficient suggest cultural and structural factors are equally important and collectively impact upward economic mobility.

Similarly, the purpose of this study was to determine if Project-Based Section 8 housing participants' characteristics, described as cultural and structural barriers to economic self-sufficiency, interrelate and collectively predict ability to escape …

The Gettysburg Economic Review, Volume 7, Spring 2013

Gettysburg Economic Review

No abstract provided.

On The Orthodox Nature Of Heterodox Income Distribution Theory, Ross A. Nichols

Gettysburg Economic Review

The goal of this paper is to show that orthodox and heterodox theories of personal income distribution developed in the mid-twentieth century are effectively identical, despite their claims to the contrary. While segmented labor market theory contends that neoclassical theories of personal income distribution, such as human capital theory, ignore the impact of social institutions on the labor market, human capital theory actually implicitly incorporates them. Social institutions are, therefore, just as important in the orthodox approach to personal income distribution. Yet, while this is the case, the heterodox perspective is valuable because of the stress it places on social …

The Gettysburg Economic Review, Volume 6, Spring 2012

Gettysburg Economic Review

No abstract provided.

Contributions Of Financial Sector Reforms And Credit Supply To Nigerian Agricultural Sector (1978-2009), Anthony O. Onoja, M. E. Onu, S. Ajodo-Ohiemi

CBN Journal of Applied Statistics (JAS)

This study analyzed the trends and pattern of institutional credit supply to agriculture during pre- and post-financial reforms along with their determinants. It then compared the effects of reform policies on access to institutional credits in Nigerian agricultural sector before and after the reforms (1978 - 1985; and 1986 -2009). Relying mainly on time series data from CBN and NBS, it used ordinary least squares method (linear, semi-log and double log) to model the determinants of banking sector lending to the agricultural sector during the review period. The models were subjected to several econometric tests before accepting one. Chow test …

Determinants Of Foreign Reserves In Nigeria: An Autoregressive Distributed Lag Approach, David Irefin, Baba N. Yaaba

CBN Journal of Applied Statistics (JAS)

On global scale, central banks’ holdings of foreign reserves have escalated sharply in recent years. World international reserves holdings have risen significantly from US$1.2 trillion in 1995 to nearly US$10.0 trillion in June 2011. Dominant among these reserves are concentrated in the hands of few countries. Ten major holders of foreign reserves are mostly from Asia. Oil exporting countries in Africa and the Middle East are not left out in this trend. Nigeria’s foreign reserves rose from US$5.5 billion in 1999 to US$62.40 billion in July 2008, making Nigeria the twenty-fourth largest reserves holder in the world. This pace of …

Effects Of Exchange Rate Movements On Economic Growth In Nigeria, Eme O. Akpan, Johnson A. Atan

CBN Journal of Applied Statistics (JAS)

This study investigates the effect of exchange rate movements on real output growth in Nigeria. Based on quarterly series for the period 1986 to 2010, the paper examines the possible direct and indirect relationship between exchange rates and GDP growth. The relationship is derived in two ways using a simultaneous equations model within a fully specified (but small) macroeconomic model. A Generalised Method of Moments (GMM) technique was explored. The estimation results suggest that there is no evidence of a strong direct relationship between changes in exchange rate and output growth. Rather, Nigeria’s economic growth has been directly affected by …

Exchange Rate Volatility In Nigeria: Consistency, Persistency & Severity Analyses, Babatunde Adeoye, Akinwande A. Atanda

CBN Journal of Applied Statistics (JAS)

The adoption of the International Monetary Fund (IMF) Structural Adjustment Programme (SAP) in 1986 resulted in the transition from fixed exchange rate regime to floating exchange rate regime in Nigeria. Ever since, the exchange rate of naira vis-à-vis the U.S dollar has attained varying rates all through different time horizons. On this basis, this study examines the consistency, persistency, and severity (degree) of volatility in exchange rate of Nigerian currency (naira) vis-a-vis the United State dollar using monthly time series data from 1986 to 2008. The standard Purchasing Power Parity (PPP) model was used to analyze the long-run consistency of …

Foreign Private Investment And Economic Growth In Nigeria: A Cointegrated Var And Granger Causality Analysis, F. Z. Abdullahi, S. Ladan, Haruna R. Bakari

CBN Journal of Applied Statistics (JAS)

This research uses a cointegration VAR model to study the contemporaneous long-run dynamics of the impact of Foreign Private Investment (FPI), Interest Rate (INR) and Inflation rate (IFR) on Growth Domestic Products (GDP) in Nigeria for the period January 1970 to December 2009. The Unit Root Test suggests that all the variables are integrated of order 1. The VAR model was appropriately identified using AIC information criteria and the VECM model has exactly one cointegration relation. The study further investigates the causal relationship using the Granger causality analysis of VECM which indicates a uni-directional causality relationship between GDP and FDI …

Banking Sector Credit And Economic Growth In Nigeria: An Empirical Investigation, Aniekan O. Akpansung, Sikiru J. Babalola

CBN Journal of Applied Statistics (JAS)

The paper examines the relationship between banking sector credit and economic growth in Nigeria over the period 1970-2008. The causal links between the pairs of variables of interest were established using Granger causality test while a Two-Stage Least Squares (TSLS) estimation technique was used for the regression models. The results of Granger causality test show evidence of unidirectional causal relationship from GDP to private sector credit (PSC) and from industrial production index (IND) to GDP. Estimated regression models indicate that private sector credit impacts positively on economic growth over the period of coverage in this study. However, lending (interest) rate …

Neither The Washington Nor Beijing Consensus: Developmental Models To Fit African Realities And Cultures, Sanusi L. Sanusi

CBN Journal of Applied Statistics (JAS)

No abstract provided.

Predictions For Protection: A System To Measure And Detect Asset Bubbles, Singapore Management University

Perspectives@SMU

The damage wrecked by the bursting of asset bubbles can have a devastating impact on investors' fortunes. In the Internet bubble, some US$8 trillion of shareholder wealth was destroyed. What is even more pertinent, however, is how the popping of a bubble can create a financial crisis, impacting nations and their economies. As a result, understanding how to identify bubbles is an important first step in combating these speculative bubbles, with interested parties ranging from the academic and investment community to central bankers and policy makers.

The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

Movement Of Economics Professors Among Top Research Universities In The Us, Benjamin E. Resnick

Renée Crown University Honors Thesis Projects - All

Abstract not Included

The College Football Gambling Market An Empirical Approach, Brian Mcneil

Renée Crown University Honors Thesis Projects - All

This study tests the efficiency of the college football gambling market and whether the market allows for profitable wagering. Operating upon the theoretical framework that, at any given time, prices fully reflect all information available in a particular market, I test for the existence of residual information that is not currently incorporated into the market, thus rendering it inefficient. This project expands upon several previous studies performed on sports betting – most notably that of Zuber, Gandar, and Bowers (1985), which examined the gambling market efficiency for National Football League games. The findings prove to be consistent with the conclusions …