Macroeconomics Commons^™

Recession Emerges As The Most Like Scenario, Eric Thompson

Business in Nebraska

The U.S. economy faces the prospect of a second recession as the Federal Reserve Bank continues to raise interest rates to confront inflationary forces. These forces include elevated asset prices and a wage-price spiral. Further interest rate increases are likely given a challenging environment to reduce inflation. Challenges include limited migration and a slow-growing labor force, trade restrictions, regulatory restrictions that limit energy production and raise the minimum wage as well as excessive federal government spending. Federal spending through the CARES Act, Coronavirus Supplemental Appropriations Act, American Rescue Plan, and Infrastructure Investment and Jobs Act continue to fuel excess demand. …

Growth Likely In A Time Of Uncertainty, Eric Thompson

Business in Nebraska

The U.S. economy continues to recover from the recession which occurred during March and April of 2020. Demand has been strong for both goods and services. At the same time, supply constraints are a concern in the economy, contributing to both higher prices and in some cases lost production within industries. Supply constraints are evident in both inputs (supplies) and labor. Labor force growth has been anemic in the last two years given slow population growth and a roughly 2 percent decline in the labor force participation rate. Looking forward, the baseline outlook is for the U.S. economic recovery to …

Sales Capture Patterns Among Nebraska Counties, Eric Thompson, Spencer Cook

Business in Nebraska

Sales capture, the share of local spending power that is captured by area businesses, is an important measure of economic activity. Greater sales capture, which is typically measured using data on local taxable sales, creates multiple benefits for the economy. 1. EMPLOYMENT: Greater sales capture means more employment in retailers, wholesalers, restaurants, hotels, and other businesses subject to sales tax. 2. TAX REVENUE: Taxable sales are an important part of the tax base of many city governments. 3. QUALITY OF LIFE: Retail and hospitality (restaurants, lodging, amusement, and recreation) businesses account for a significant share of taxable sales. These industries …

Producer Services: An Engine For High-Wage Job Growth, Spencer Cook, Eric Thompson

Business in Nebraska

Producer services providers are firms that sell services primarily to the business community rather than to individuals and households. Many producer services businesses are classified in the Professional, Scientific, and Technical Service (PSTS) industry. Accounting firms, consultants, and computer design services are prominent examples of PSTS businesses that are worth studying for three reasons:

1. SUPPORT OF OTHER INDUSTRIES: PSTS industries supply the broader business community, making them a critical segment of the economy.

2. RAPID HIGH WAGE JOB GROWTH: Many PSTS industries are rapidly growing and pay high wages. The producer services sector, in fact, is the principal source …

Shocks To Aggregate Demand And Aggregate Supply In The Midst Of Covid-19, Anna M. Gellerman

Publications and Research

COVID-19 sent shockwaves throughout the economy, changing the amounts of goods and services distributed and altering the demand. This article discusses the negative demand shock and adverse supply shock that the U.S. economy faced in 2020, and the policies that the government implemented to reverse these effects.

The Nebraska Economy Responds To The Covid-19 Pandemic, Eric Thompson

Business in Nebraska

The Nebraska economy will contract in 2020 but the rate of decline will not be as rapid as nationwide. The economic structure of Nebraska is more focused on production and transportation than the national economy and less focused on hard-hit industries such as hospitality, entertainment, automobile parts and assembly, and oil production. Nebraska also may benefit from a higher quality workforce, which is better able to adapt to changing economic conditions.

Employment will drop by 2.4% in Nebraska in 2020, much less than the national rate of decline. Employment will rebound by 2.0% in 2021 and 1.4% in 2022. With …

Consumers Support A Slowing Economy, Eric Thompson

Business in Nebraska

Nebraska will record moderate economic growth during the forecast period but will lag U.S. growth. Like the national economy, growth Nebraska’s goods producing sector will struggle. Farm incomes will be flat from 2020 to 2022 after improving this year. Manufacturing employment also is expected to drop. However, most other sectors will expand, including services, finance and construction. Projected growth rates for 2020 to 2022 are presented in Table 1.

Employment will grow by 0.6% to 0.8% per year, below the national rate. Non-farm income will grow between 3.7% and 3.8% each year. This growth readily exceeds inflation and population growth, …

The Economic Impact Of The 2018 Spartan Race On The West Virginia Economy, Christiadi, John Deskins

Bureau of Business & Economic Research

No abstract provided.

The Economic Impact Of Coal In West Virginia, Christiadi, John Deskins

Bureau of Business & Economic Research

No abstract provided.

Moderate Growth With A Stronger Industrial Sector, Eric Thompson

Business in Nebraska

Nebraska will record solid economic growth during the forecast period but will lag U.S. growth. While Nebraska’s large farming sector has stabilized, it will not contribute much to economic growth during the forecast period. Job growth also will be sluggish in transportation, retail trade and state and local government. Job growth, however, will be stronger in the services, finance, manufacturing and construction. Projected growth rates for 2018 to 2020 are presented in Table 1.

Employment will grow by 0.8% to 1.0% per year, below the national rate. Non-farm income will grow between 3.6% and 3.8% each year. This growth is …

Nebraska Snaps Back, Eric Thompson

Business in Nebraska

Nebraska will fully participate in stronger U.S. economic growth. While the farming sector will continue to face challenges, farm income will rise slightly during the forecast period, and consequently, will no longer detract from Nebraska economic growth. Nebraska will match U.S. job growth, with job growth particularly strong in services, construction, and retail trade. The agricultural processing sector also will expand employment. Projected growth rates for 2018 through 2020 are presented in Table 1.

Employment will grow by 1.1% to 1.2% per year, matching the national job growth rate in 2019 and 2020. Non-farm income will grow between 3.9% and …

Nebraska Monthly Economic Indicators: September 20, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.38% during August of 2017. The decline in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow slowly during the first few months of 2018. The drop in the indicator was primarily due to a decline in manufacturing hours-worked during August. Building permits for single-family homes and airline passenger enplanements also dropped slightly. There were two positive components of the LEI-N. Businesses responding to the August Survey of Nebraska Business reported plans to increase sales and employment over …

Nebraska Business And Consumer Confidence Indexes: September 1, 2017, Eric Thompson

Leading Economic Indicator Reports

Nebraska’s consumer and business confidence fell during August. The Consumer Confidence Index – Nebraska (CCI-N) stood at 100.9 in August, below the reading of 102.5 from July. Notably, the CCI-N remained above the neutral value of 100.0 during August. The outlook of Nebraska businesses remained strong. The Business Confidence Index – Nebraska (BCI-N) stood at 104.2 in August, close to the value of 105.1 during July, and well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 35 percent of business respondents. Businesses also faced growing competition in …

Nebraska Monthly Economic Indicators: August 23, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 rose by 0.56% during July of 2017. The increase in the LEI-N, which is designed to predict economic activity six months into the future, suggests that the Nebraska economy will grow through the first month of 2018. Four components of the indicator improved during July. Business expectations were solid and manufacturing hours grew. The value of the U.S. dollar continued its recent decline, a positive sign for Nebraska’s export-oriented businesses. Further, in a positive sign for the labor market, there also was a drop in initial claims for unemployment insurance. In terms …

Nebraska Business And Consumer Confidence Indexes: August 4, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence remained strong in Nebraska during July but fell from June levels. The Consumer Confidence Index – Nebraska (CCI-N) stood at 102.5 in July after a reading of 104.7 during June. Despite the decline of 2.2, the CCI-N remained above the neutral value of 100.0, indicating strong consumer confidence. The outlook of Nebraska businesses also was strong. The Business Confidence Index – Nebraska (BCI-N) fell to 105.1 in July from 109.2 in June. The BCI-N remained well above the neutral value in July, despite the 4.1 point decline, which indicates that business confidence is also strong in …

Nebraska Business And Consumer Confidence Indexes: July 7, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer confidence rose sharply in Nebraska during June 2017 while business confidence remained very strong. The Consumer Confidence Index – Nebraska (CCI-N) stood at 100.4 in May but rose to 104.7 during June, which is well above the neutral value of 100.0. The outlook of Nebraska businesses remained very strong. The Business Confidence Index – Nebraska (BCI-N) fell to 109.2 in June, well above the neutral value and just below its May value of 110.2. Business confidence has been very strong in Nebraska throughout the first half of 2017. When asked about the most important issue facing their business, customer …

Nebraska Monthly Economic Indicators: June 21, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.51% during May of 2017. This is the second consecutive monthly decline in the LEI-N. The declines followed three months of rapid increase from January through March of 2017. Taken together, the LEI-N values imply a moderation in economic growth in Nebraska in late 2017 after strong growth midyear. Among the components of the indicator, business expectations were strong during May while the value of the U.S. dollar fell, which is a positive sign for Nebraska’s export-oriented businesses. However, manufacturing hours, building permits and airline passen

A Review On Literature Of Waqf For Poverty Alleviation Between 2006-2016, Nur Atikah Atan, Fuadah Johari

Library Philosophy and Practice (e-journal)

Background - The success of Waqf as a source of socio-economic financing in Islamic history in developing a country by providing the social and public goods to the society have been a major factor for Waqf practices to be retrieved back today. In order to exterminate the poverty, depending in Zakat alone is not enough. Waqf can be an alternative in solving the socio-economic problem of the Ummah which covers the issues such as poverty, inequality and rising cost of living as well in promoting the social well-being in the society. Purpose - The purpose of this article is to …

More Balanced Economic Growth, Eric Thompson

Business in Nebraska

There has been a re-balancing of both global and domestic economic growth during 2017. Globally, growth is improving in Europe and China, yielding more balanced international growth. Within the United States, growth also has become more balanced across industries. As in past years, the service sector, supported by growth in employment and real wages, has grown steadily with increases in retail trade, business services, personal services and construction activity. However, in recent months, there also has been improved growth in the industrial sector, with a rebound in the energy sector, and more business investment in capital equipment. The result is …

Nebraska Business And Consumer Confidence Indexes: June 2, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer confidence fell in Nebraska during May 2017 while business confidence remained very strong. The Consumer Confidence Index – Nebraska (CCI-N) fell to roughly neutral during May. The CCI-N stood at 102.5 in April but fell to 100.4 during May, which is only slightly above the neutral value of 100.0. The outlook of Nebraska businesses remained very strong. The Business Confidence Index – Nebraska (BCI-N) rose to 110.2 in May, above its April value of 109.1 and well above the neutral value. Business confidence has been very strong in Nebraska during the first five months of 2017. When asked about …

University Rankings: Evidence And A Conceptual Framework, Jonathan G.S. Koppell, Jacob Fowles, H. George Frederickson

Publications from President Jonathan G.S. Koppell

University ranking has high public visibility, the ranking business has flourished, and institutions of higher education have not been able to ignore it. This study of university ranking presents general considerations of ranking and institutional responses to it, particularly considering reactions to ranking, ranking as a self-fulfilling prophecy, and ranking as a means of transforming qualities into quantities. The authors present a conceptual framework of university ranking based on three propositions and carry out a descriptive statistical analysis of U.S. and international ranking data to evaluate those propositions. The first proposition of university ranking is that ranking systems are demarcated …

Multiple Openings And Competitiveness Of Forward Markets: Experimental Evidence, José Luis Ferreira, Praveen Kujal, Stephen Rassenti

Economics Faculty Articles and Research

We test the competition enhancing effect of selling forward in experimental Cournot duopoly and quadropoly with multiple forward markets. We find that two forward periods yields competitive outcomes and that the results are very close to the predicted theoretical results for quantity setting duopolies and quadropolies. Our experiments lend strong support to the hypothesis that forward markets are competition enhancing. We then test a new market that allows for endogenously determined indefinitely many forward periods that only close when sellers coordinate on selling a zero amount in a forward market. We find that the outcomes under an endogenous close rule …

Understanding The Distributional Impact Of Long-Run Inflation, Gabriele Camera, Yili Chen

Economics Faculty Articles and Research

The impact of fully anticipated inflation is systematically studied in heterogeneous agent economies with an endogenous labor supply and portfolio choices. In stationary equilibrium, inflation nonlinearly alters the endogenous distributions of income, wealth, and consumption. Small departures from zero inflation have the strongest impact. Three features determine how inflation impacts distributions and welfare: financial structure, shock persistence, and labor supply elasticity. When agents can self-insure only with money, inflation reduces wealth inequality but may raise consumption inequality. Otherwise, inflation reduces consumption inequality but may raise wealth inequality. Given persistent shocks and an inelastic labor supply, inflation may raise average welfare. …

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria

CBN Annual Report

Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …

The Organization Of Banking And Supervision, Introduction And Overview, Clas Wihlborg

Business Faculty Articles and Research

"The focus of this Special Issue is on organizational reforms in the financial sector in the aftermath of the financial crisis 2007-2009 and the subsequent euro-zone crisis. In particular, the perception that many banks were too big and too complex to fail during the crisis, which led to very costly bailouts at tax-payers expense in several countries, has fueled a number of proposals to limit the size and the complexity of financial institutions, as well as proposals to reorganize public authorities responsible for supervision and crisis management."

Capm In Up And Down Markets: Evidence From Six European Emerging Markets, Jianhua Zhang, Clas Wihlborg

Business Faculty Articles and Research

The pricing of equity in six European emerging capital markets is analysed using both the conventional CAPM and a ‘conditional’ CAPM wherein up and down markets are separated. International influences on the stock markets are also analysed. The empirical evidence from a sample of 1,131 firms from the six markets indicates that there exists a significant relationship between beta and returns when up and down markets are separated. The international CAPM performs well in some markets that have become increasingly integrated with the world market. The general implication of the analysis is that beta can be a useful risk-measure for …

Financial Liberalization And Banking Crises: A Cross-Country Analysis, Apanard P. Angkinand, Wanvimol Sawangngoenyuang, Clas Wihlborg

Business Faculty Articles and Research

Several studies indicate that financial liberalization contributes to the likelihood of a financial crisis. We focus on banking crises and argue that they are most likely to occur after an intermediate degree of liberalization. Using a recently updated dataset for financial reforms in 48 countries between 1973 and 2005, we find an inverted U-shaped relationship between liberalization and the likelihood of crisis. We ask whether the relationship remains when institutional characteristics of countries and dynamic effects of liberalization are considered. The empirical results indicate that the relationship between liberalization and banking crises depends strongly on the strength of capital regulation …

Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria

CBN Annual Report

The Central Bank of Nigeria (CBN) Annual Report and Statement of Accounts for the Year Ended 31st December, 2009 revealed that the country's Gross Domestic Product (GDP) grew by 6.7% YoY, compared to 6.0% in the previous year. This growth was driven by the non-oil sector, with the non-oil GDP growth rate of 8.3%. Within the non-oil sector, the agricultural sub-sector grew by 6.2%, while the whole-sector and retail sectors recorded growth rates of 11.5 and 10.5 per cent, respectively. The robust output recorded during the previous three years was driven by the government's optimism, which reflected in the oil …

Does Unemployment Decrease Cancer Mortality?, Benjamin Torres Galick

Economics Honors Projects

Recent research indicates that healthier lifestyles during recessions decrease the most common U.S. mortalities, but not cancer. However, they combine specific cancer mortalities with different progressions into one, possibly obscuring cancer’s link to unemployment. This paper estimates a fixed-effects regression model on unemployment and the nine most prevalent cancers between 1988 and 2002 using state-level panel data. Five cancers and total cancer are procyclical, and suggest that unemployment affects both incidence and gestation for some cancers. Consistent with the medical literature, this paper contradicts previous economic research and suggests that behavioral factors significantly impact cancer mortality.

Asymptotic Properties Of Equilibrium In Discriminatory And Uniform Price Ipv Multi-Unit Auctions, Brett E. Katzman

Faculty and Research Publications

This paper confronts the tractability problems that accompany IPV auction models with multi-unit bidder demands. Utilizing a first order approach, the asymptotic properties of symmetric equilibria in discriminatory and uniform price auctions are derived. It is shown that as the number of bidders increases, equilibrium bids converge to valuations in both discriminatory auctions and uniform price auctions where the price paid is determined by the lowest winning bid, thus indicating that the limiting case of these auctions correspond to price taking as in neoclassical models of consumer behavior. However, when the uniform price paid is tied to the highest losing …