Public Economics Commons^™

Gresham's Law In The 21St Century, Joshua Finnell

E-JASL: Electronic Journal of Academic and Special Librarianship (1999-2009, Volumes 1-10)

Abstract

Research indicates that most people today satisfy their information needs through the Internet. As we move deeper into the information age, librarians must embrace the role of inculcating information literacy skills lest Gresham’s Law of economics becomes a reality in our information economy. This article discusses the probabilistic nature of the Internet against the backdrop of Gresham’s Law.

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 …

A Revelation Principle For Dominant Strategy Implementation, Jesse Schwartz, Quan Wen

Faculty Articles

We introduce a perfect price discriminating (PPD) mechanism for allocation problems with private information. A PPD mechanism treats a seller, for example, as a perfect price discriminating monopolist who faces a price schedule that does not depend on her report. In any PPD mechanism, every player has a dominant strategy to truthfully report her private information. We establish a revelation principle for dominant strategy implementation: any outcome that can be dominant strategy implemented can also be dominant strategy implemented using a PPD mechanism. We apply this principle to derive the optimal, budget-balanced, dominant strategy mechanisms for public good provision and …

Pay And Performance: Among 100 Best U.S. Companies To Work For, Omair Mahmood Faisal

Undergraduate Theses and Capstone Projects

In the 21st century, world is becoming a global village and with increased competition businesses are always looking for regions with the lowest possible production costs. Appropriate compensation of U.S. employees working for major U.S. corporations is a hotly debated topic in political circles. This research focuses on the top 100 companies designated as “the best companies to work for” by Fortune Magazine for the year 2006. Performance of these companies, as measured by their return on equity, return on assets, revenue growth and earnings growth along with their profit margin is used to determine the impact on them as …

Collaboration For The Public Good: An Inquiry Into Federalism's Role In Economic Performance, James A. Cochran Ii

Seton Hall University Dissertations and Theses (ETDs)

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An Econometric Analysis Of The Relationship Between Public Expenditure And National Income In Malaysia, Yin Wai Tung

Student Works (2000-2009)

The purpose of this study is to analyse public expenditure growth in Malaysia for the period of 1970-2000. This paper investigates the existence of a long-run relationship between national income and various categories of public expenditure as proposed by Wagner's Law. In Wagner's framework, public expenditure can be treated as an endogenous factor that suggests that public expenditure grows as a result of growth in national income. Causality is expected to run from national income to public expenditure. This contradicts the famous Keynesian doctrine that treats public expenditure as an exogenous factor. As opposed to Wagner's Law, it implies that …

The Determinants Of Private College Tuition Fees : A Hedonic Approach, Miin See

Student Works (2000-2009)

In the private higher education markets in Malaysia today, education programs are marketed like any other commercial products. The programs are designed, packaged, priced and sold to the consumers - the students. Due to the fact that in these markets, the students are mostly self-funded (without scholarship) pricing strategy is one of the most important marketing tools used by the private higher education institutes (PHEIs). Using the hedonic pricing model, this study has identified several factors that are influential in determining the tuition fee of a degree program offered by a PHEI in Malaysia. This study investigates two markets: the …

The Challenge Of Administration By Regulation: Preliminary Findings Regarding The U.S. Government's Venture Capital Funds, Jonathan G.S. Koppell

Publications from President Jonathan G.S. Koppell

This article assesses the ability of elected officials to control public policy as implemented by public/private hybrid organizations, specifically, government venture capital funds. The study reveals greater control over OPIC investment funds than Enterprise Funds despite the existence of more traditional administrative tools of control for Enterprise Funds. This finding suggests that the regulatory infrastructure for hybrid organizations is more determinative of control than the existence (or lack) of traditional administrative control tools. Thus the challenge of hybrid government centers on the development of regulation as a substitute for administration.

How Useful Are Forecasts Of Corporate Profits, Dean D. Croushore

Economics Faculty Publications

If forecasters predict higher earnings for corporations, the stock market will rise. Stock prices will drop with a forecast of lower earnings. But are such forecasts on the money? Dean Croushore uses data from the Survey of Professional Forecasters to check the accuracy of forecasts of corporate profits. The results show that, despite the volatility of corporate profits, the forecasts are rational.

Low Inflation: The Surprise Of The 1990s, Dean D. Croushore

Economics Faculty Publications

For most of the 1990s, forecasters have been predicting an upturn in inflation. Yet, over that same period, the United States has experienced stable or declining inflation. Why have forecasts been at odds with reality? And why does it matter? In this article, Dean Croushore considers some answers to these questions and explains why inflation is the economic surprise of the decade.

The Livingston Survey: Still Useful After All These Years, Dean D. Croushore

Economics Faculty Publications

The decisions of households, firms, and government agencies depend on forecasts of the overall economy. Large firms and the federal government often have the resources to hire their own economists to provide forecasts. But households, small firms, and local governments often depend on surveys of forecasters to get their information. In this article, Dean Croushore spotlights the Livingston Survey, which, even after 50 years, still provides useful forecasts of the economy.

Inflation Forecasts: How Good Are They?, Dean D. Croushore

Economics Faculty Publications

Forecasts of inflation affect decision-making in many segments of the economy. But in the early 1980s, economists found that forecasts in surveys taken over the past 20 years systematically underpredicted inflation. As a result, many economists stopped paying attention to forecasts. However, they may have abandoned them too quickly. In this article, Dean Croushore takes a closer look at survey forecasts and, after considering some relevant factors, concludes that inflation forecasts may not be as bad as you think.

What Are The Costs Of Disinflation?, Dean D. Croushore

Economics Faculty Publications

The Federal Reserve can use monetary policy to reduce the inflation rate, a process known as disinflation. Are the benefits of disinflation worth the costs? Proponents of disinflation argue that the long-run benefits of price stability, including lower interest rates, increased economic efficiency, and perhaps faster economic growth, greatly exceed the short-run costs. Opponents, of course, claim the opposite, usually arguing that the short-run costs in terms of higher unemployment and lost output would be immense.

Government Financial Policy And Capital, Dean D. Croushore

Economics Faculty Publications

Economists have long been concerned about the best way to finance government deficits. Finding the proper fiscal policy and monetary policy mix is a crucial decision. When government debt grows too fast, interest rates rise and capital is crowded out. If the money growth rate is excessive, inflation occurs.

The study of this issue at the theoretical level requires a model which incorporates the following features: (1) modeling money and bonds as endogenous financial assets, whose rates of return are determined in general equilibrium, (2) examination of the utility maxi mization decisions of individuals, so that welfare analysis of alternative …

Comparison Of Human Capital And Structural Models Of The Distribution Of Earnings: Evidence From Connecticut, A, Bradford F. Mills, Boris E. Bravo-Ureta

Storrs Agricultural Experiment Station

No abstract provided.

Forms Of Appearance Of Surplus Value, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (1978, April). The forms-of-appearance of surplus value [Unpublished handwritten notes]. Anwar Shaikh, PhD.

• Shaikh, A. (1978, April). A critique of Gillman and Mage [Unpublished handwritten notes]. Anwar Shaikh, PhD.

Private Markets And Social Control, Lloyd D. Orr

IUSTITIA

The continuing failure of society to deal adequately with its problems has led to criticism that goes beyond the imperfections of a fundamentally sound social organization. Individual economic incentive and private markets, the basics of our economic organization, are condemned as inherently destructive of desirable social goals. It may be that such criticism is naive with respect to the basic history of economic organization and the prospects for meaningful alternatives. It also may be that the "solutions" offered are frequently more authoritarian than the critics allege the present system to be. We are still left to ponder the vital, long-standing, …