Public Economics Commons^™

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2008., Central Bank Of Nigeria

CBN Annual Report

The Central Bank of Nigeria (CBN)'s 2008 report evaluates macroeconomic policies and outcomes, focusing on corporate operations and the economy's performance against domestic and external economic and financial developments. The CBN's monetary policy stance and banking and financial measures were deployed to ensure price stability and financial sector soundness. Despite the global economic downturn, the financial system remained relatively stable and overall macroeconomic performance was satisfactory. The formal financial system at end-December 2008 comprised the CBN, the Nigeria Deposit Insurance Corporation, the Securities and Exchange Commission, the National Insurance Commission, the National Pension Commission, and various banks. The banking sector …

How Well Can We Target Aid With Rapidly Collected Data? Empirical Results For Poverty Mapping From Cambodia, Tomoki Fujii

Research Collection School Of Economics

We compare commune-level poverty rankings in Cambodia based on three different methods: small-area estimation, principal component analysis using aggregate data, and interviews with local leaders. While they provide reasonably consistent rankings, the choice of the ranking method matters. In order to assess the potential losses from moving away from census-based poverty mapping, we used the concentration curve. Our calculation shows that about three-quarters of the potential gains from geographic targeting may be lost by using aggregate data. The usefulness of aggregate data in general would depend on the cost of data collection.

Paying Teachers To Earn Advanced Degrees: Evidence On Student Performance In Georgia, Noel D. Campbell, Edward J. Lopez

Faculty Publications

No abstract provided.

Ua7 Ored Quarterly Newsletter, Sadiq Shah

ORED Quarterly Newsletter

Connecting Knowledge with Businesses and Society to Promote Economic Growth and to Enhance the Quality of Life

Ua7 Ored Quarterly Newsletter, Sadiq Shah

ORED Quarterly Newsletter

Connecting Knowledge with Businesses and Society to Promote Economic Growth and to Enhance the Quality of Life

Numerical Analysis Of Non-Constant Pure Rate Of Time Preference: A Model Of Climate Policy, Tomoki Fujii, Larry Karp

Research Collection School Of Economics

When current decisions affect welfare in the far-distant future, as with climate change, the use of a declining pure rate of time preference (PRTP) provides potentially important modeling flexibility. The difficulty of analyzing models with non-constant PRTP limits their application. We describe and provide software (available online) to implement an algorithm to numerically obtain a Markov perfect equilibrium for an optimal control problem with non-constant PRTP. We apply this software to a simplified version of the numerical climate change model used in the Stern Review. For our calibration, the policy recommendations are less sensitive to the PRTP than widely believed. …

Retirement Effects On Health In Europe, Norma B. Coe, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

What are the health impacts of retirement? As talk of raising retirement ages in pensions and social security schemes continues around the world, it is important to know both the costs and benefits or the individual as well as the governments' budgets. In this paper we use the Survey of Health, Aging and Retirement in Europe (SHARE) dataset to address this question in a multi-country setting. We use country-specific early and full retirement ages as an instrument for retirement behavior in a regression discontinuity design approach. These statutory retirement ages clearly induce retirement, but are not related to an individual's …

Rehab Or Relocation? Estimating The Demand For Cocaine Through An American Port City Analysis, Gustave A. Bartuska

Renée Crown University Honors Thesis Projects - All

Over the past five decades American drug policy can succinctly be classified by two words: expensive and punitive. American drug policy makers have conducted the “war on drugs” largely through supply side intervention. As the theory goes, by attacking drug producers, drug prices will rise due to the increased risk faced by suppliers, this risk will in turn be passed along to consumers in the form of higher prices. In order to critically asses the merits of such an expensive antidrug policy it is essential to estimate the price elasticity of demand for drugs.

The main finding of this paper …

Kentucky's Debt Relief Attempt, Stephen E. Lile

Economics Faculty Publications

No abstract provided.

Ua7 Ored Quarterly Newsletter, Sadiq Shah

ORED Quarterly Newsletter

Connecting Knowledge with Businesses and Society to Promote Economic Growth and to Enhance the Quality of Life

Economists, Value Judgments, And Climate Change: A View From Feminist Economics, Julie A. Nelson

Economics Faculty Publication Series

A number of recent discussions about ethical issues in climate change, as engaged in by economists, have focused on the value of the parameter representing the rate of time preference within models of optimal growth. This essay examines many economists' antipathy to serious discussion of ethical matters, and suggests that the avoidance of questions of intergenerational equity is related to another set of value judgments concerning the quality and objectivity of economic practice. Using insights from feminist philosophy of science and research on high reliability organizations, this essay argues that a more ethically transparent, real-world-oriented, and flexible economic practice would …

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 …

Sozialpolitik Nach Verursacherprinzip : Beispiele Der Anwendung Aus Arbeit, Gesundheit, Sucht, Schule Und Wohnen, Isidor Wallimann

Books

Sozialpolitik nach Verursacherprinzip explores the application of the polluter pays principle to a variety of social policies. It specifically examines possibilities in labor, health, addiction, education, and housing policies.

The Gettysburg Economic Review, Volume 2, Spring 2008

Gettysburg Economic Review

No abstract provided.

Strategic Regional And National Economic Development With Fiscal Equalization, Lok Sang Ho

Centre for Public Policy Studies : CPPS Working Paper Series

This paper shows that under increasing returns, devoting resources to develop some regions strategically ahead of other regions make sense, but this does not imply that the other regions have to wait until the benefits of economic growth to trickle down. Fiscal equalization can and should be more aggressive, with the central government incurring a deficit to help the poorer regions, and the national debt thus caused to be repaid by higher taxes on the fast growing regions. Optimal fiscal equalization should also involve central government’s investment in certain kinds of public infrastructure in the local economies of the backward …

The Economic Impact Of The 50-Year Career Of Frank Broyles At The University Of Arkansas, Jeffery T. Collins

Publications and Presentations

Frank Broyles retired from the University of Arkansas on December 31, 2007, after a career in the athletic department of the school that lasted 50 years. First as coach and later as men’s athletic director, Frank Broyles had a profound impact on the state of Arkansas. His leadership skills led to tremendous unquantifiable benefits like personal mentorship of players and staff, notoriety, and philanthropy. His five decade long tenure at the University of Arkansas also led to demonstrable economic impact. The purpose of this study is to quantify and celebrate the economic benefits that have accrued to Arkansas because of …

Incumbent Deviations From Constituents: Further Tests, Noel D. Campbell, Edward J. Lopez, Tammy Rogers

Faculty Publications

No abstract provided.

Neighborhood Crime And Non-Auto Mode Choice, Shishir Mathur, Christopher Ferrell, Emy Mendoza

Faculty Publications, Urban and Regional Planning

No abstract provided.

Ua7 Ored Quarterly Newsletter, Sadiq Shah

ORED Quarterly Newsletter

Connecting Knowledge with Businesses and Society to Promote Economic Growth and to Enhance the Quality of Life

A Current Microeconometric Assessment Of The Racial Wage Gap In The United States, David H. Krisch

Gettysburg Economic Review

Minority groups in the United States promoted affirmative action legislation in the 1960s during the civil rights movement to help ease the inequalities suffered in their economic history. Many labor economists have sought since this time to study the effects of race, gender, and the effect of income – how it has changed and if the gap has closed. Existing literature uses many different econometric models to show how the effects of race, gender, age, occupation, educational attainment, and geographic location on an individual comparative basis. This paper will examine the effects of all of these variables jointly using an …

The Effects Of Intermarriage On The Earnings Of Female Immigrants In The United States, Milena V. Nikolova

Gettysburg Economic Review

This paper investigates the effects of intermarriage on the earnings of female immigrants in the United States. The main empirical question asked is whether immigrant females married to US-born spouses have higher earnings than those of immigrant females married to other immigrants. Using 1970 and 1870 samples of IPUMS data, I estimate an earnings equation through OLS. I also correct for the labor force selection bias using the Heckman procedure. I finally take into account the endogeneity of intermarriage and apply a twostage least squares (2SLS) estimation procedure. I find that there is a positive marriage premium among immigrant females …

Complementarity And The Measurement Of Individual Risk Tradeoffs: Accounting For Quantity And Quality Of Life Effects, Mary F. Evans, V. Kerry Smith

CMC Faculty Publications and Research

This paper considers the factors responsible for differences with age in estimates of the wage compensation an individual requires to accept increased occupational fatality risk. We derive a relationship between the value of a statistical life (VSL) and the degree of complementarity between consumption and labor supplied when health status serves as a potential source of variation in this relationship. Our empirical analysis finds that variations in an individual’s health status or quality of life and anticipated longevity threats lead to significant differences in the estimated wage/risk tradeoffs. We describe how extensions to the specification of hedonic wage models, including …

The Effect Of Devaluation On Output In The Egyptian Economy: A Vector Autoregression Analysis, Sahar M. Abdel-Haleim, Hala El-Ramly

Business Administration

The objective of this paper is to analyze the relationship between exchange rate changes and output in the Egyptian economy. This is the first such study that we know of for Egypt. Employing a Vector Autoregression model, the paper conducts the study using annual data for Egypt over the period 1982-2004. The results of the study indicate that devaluations have an initial contractionary effect on output in Egypt. This contractionary effect lasts for a period of as long as four years before the expected positive effect of the devaluation starts to materialize. Moreover, the study clarifies that real exchange rate …

The Interaction Of Metropolitan Area Costs And The Federal Earned Income Tax Credit: One Size Fits All?, Katie Fitzpatrick, Jeffrey P. Thompson

Center for Policy Research

The Federal Earned Income Tax Credoit (EITC) contributed to increasing employment rates for single women during the 1990s. This paper expands on what is known about the labor supply response to the EITC by exploiting differences in the cost-of-living faced by potentially eligible recipients in different geographic areas. Using the 1993 EITC expansion, we demonstrate that the labor supply response varies considerably with metropolitan area cost-of-living. We identify an increase in labor force participation among single mothers of as much as 10 percentage points in the lowest cost metropolitan areas. There is no discernable participation response in metropolitan areas with …

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 …

The Impact Of Revenue Diversification And Economic Base On Revenue Stability: An Empirical Analysis Of County And State Governments, Wenli Yan

University of Kentucky Doctoral Dissertations

In recent decades, revenue diversification has become a prevalent practice in state and local government finance. The trend of revenue diversification, according to the portfolio theory, has far-reaching implication for public financial management as it may change revenue stability, which has been an important policy objective for state and local government administrators. This study explores how revenue diversification affects revenue stability from both empirical and theoretical perspectives. Drawing on portfolio theory and regional science literature, this study develops a theoretical framework to explain how the effect of revenue diversification on revenue volatility of sub-national governments varies in terms of its …

Public School Choice And Integration: Evidence From Durham, North Carolina, Robert Bifulco, Helen F. Ladd, Stephen Ross

Center for Policy Research

Using evidence from Durham, North Carolina, we examine the impact of school choice programs on racial and class-based segregation across schools. Theoretical considerations suggest that how choice programs affect segregation will depend not only on the family preferences emphasized in the sociology literature but also on the linkages between student composition, school quality and student achievement emphasized in the economics literature. Reasonable assumptions about the distribution of preferences over race, class, and school characteristics suggest that the segregating choices of students from advantaged backgrounds are likely to outweigh any integrating choices by disadvantaged students. The results of our empirical analysis …