Public Economics Commons^™

Three Essays On Foreign Aid, Poverty And Growth., Aberra Senbeta

Dissertations

This dissertation studies how foreign aid impacts poverty and economic growth and addresses three interrelated issues: whether aid reduces poverty, how aid affects economic growth, and whether the poverty mitigating role of aid depends on the levels of poverty.

The first essay, "Does Foreign Aid Reduce Poverty?" examines the direct effects of foreign aid on poverty in developing countries using dynamic panel estimation techniques. The results suggest that aid has a significant poverty reducing effect even after controlling for average income. The findings are robust to model specification and estimation techniques. The policy implication is that poverty reduction can be …

The Long Road To Recovery From The Recession Of 2007: December 2009 Update, Edward W. Hill

All Maxine Goodman Levin School of Urban Affairs Publications

Ned Hill, Dean of the Levin College at Cleveland State University, released his December update of macroeconomics conditions. This data-rich presentation covers the latest economic forecasts and the fiscal condition of the federal government. The presentation deck covers the performance of the following markets: currency, trade, labor, housing, commercial property, and auto. It also reports on the most current data on consumer sentiment and the investment sentiment of multinational CFOs.

Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong Phang

Research Collection School Of Economics

Affordable homeownership is a policy that is often accorded a great deal of policy attention by governments of many countries. In this paper, we examine the market implications of setting a housing price to income ratio target for a market segment by the government. The policy requires active intervention by the government with regard to the targeted sector. We use a simple model of the housing market with a homeownership affordability target to derive the market implications of such targets. In the presence of uncertainty and resource constraints, the objective of homeownership affordability is achieved for the targeted group at …

Transformation Of The Urban Rail Sector Through Ppp, Sock-Yong Phang

Research Collection School Of Economics

The recent proliferation of Public Private Partnership (PPP) projects in numerous cities has transformed the urban rail sector. The enthusiasm for PPPs can be explained by improved understanding of efficiency gains and risks of bundling and unbundling tasks as well as availability and lower cost of private sector finance. The four main PPP approaches identified are: (i) development of new systems through DBFOs (Design- Build-Finance-Operate); (ii) concessioning of rail and subway services; (iii) sale of stateowned operators through share issue privatisation; and (iv) PPPs for infrastructure maintenance and upgrading. This paper examines examples of successes and failures to better understand …

Origins And Resolution Of Financial Crises: Lessons From The Current And Northern European Crises, Finn Ostrup, Lars Oxelheim, Clas Wihlborg

Business Faculty Articles and Research

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with …

Spanning Policy Silos In Urban Development And Environmental Management: When Global Cities Are Coastal Cities Too, Herman L. Boschken

Faculty Publications, School of Management

No abstract provided.

Subnational Credit Rating: A Comparative Review, Lili Liu, Kim Song Tan

Research Collection School Of Economics

This paper surveys methodological issues in subnational credit ratings and highlights key challenges for developing countries. Subnational borrowing from capital markets has been on the rise owing to fiscal decentralization and demand for infrastructure investments. A prerequisite for accessing capital markets, subnational credit ratings have also emerged as a part of broader reform for fiscal sustainability. They facilitate a more transparent budgetary and financial management system. The global financial crisis makes subnational credit ratings more relevant, as they contribute to fiscal risk evaluations and fiscal adjustment. In addition to subnationals’ own credit strength, the creditworthiness of the sovereign and the …

Are Credit Unions In Ecuador Achieving Economies Of Scale?, Nick A. Marchio

Economics Honors Projects

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when membership grows too diffuse. To address this issue, this study uses a model that takes into account existing theory on constrained-optimization in credit unions and theory on the adverse effects of diffuse ownership. Using data on 36 public credit unions in Ecuador, the empirical analysis finds evidence that credit unions can achieve economies of scale despite their problematic structural features. …

Competition Law And The International Transport Sectors, Sock Yong Phang

Research Collection School Of Economics

This article charts the evolving regulation of cooperation and coordination between international transport firms, in particular those operating within the liner shipping and international air transport sectors. There has been a long history of exemption of these sectors from the rules and regulations of antitrust or competition law. In the past three decades, regulatory reforms and privatization have, however, subjected these sectors to competitive forces that have transformed these industries. With the introduction of competition law in many jurisdictions, the justifications for their continued exemption have come under intense scrutiny. In the late 19705, the US initiated deregulation of its …

Technology, Unilateral Commitments And Cumulative Emissions Reduction, Shurojit Chatterji, Sayantan Ghosal

Research Collection School Of Economics

In this article, we argue that weak property rights over transnational pollution and the limited threat of retaliatory punishments blunts the effectiveness of a broad-based multilateral agreement to deliver the emission reductions required to mitigate climate change. Instead, we propose a policy framework that builds on unilateral commitments, endogenous innovation and technology transfer that could lead to cumulative emissions reduction by altering the participation constraints of nations over time.

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.

Minnesota Mandates: County Government Fiscal Stress In An Era Of Declining State Support, Selena Krueth

Political Science Theses and Capstones

Minnesota counties are experiencing more than just financial burdens from state mandates these days. Counties and local governments currently are seeking the most effective solution of implementing state mandates; leaving behind the argument of no mandates without funding to "give us mandates that work". In my analysis I combined county budgetary and demographic data, with phone survey data gathered from Minnesota counties. I anticipate results that will show a wide variety in county administrator attitudes towards state mandates and varying local capacity to meet them. Costly state mandates, such as health services, and large county populations have proven significant in …

Children's Health Insurance Program: The Dynamics Of Federalism And Health Care Policy, Erik White

Political Science Theses and Capstones

On February 4^th, 2009, President Obama signed into law the reauthorization of the Children Health Insurance Program. The federal government will now spend 30 billion dollars towards the goal of ensuring that more children in the United States are insured. I investigate this particular health care policy and look at the different dynamics that affect the ultimate goal of universal health insurance for children. Because this program allows for state flexibility under broad federal guidelines, one is able to look at individual states, and their particular actions and characteristics, to determine the best approach to insuring the most …

Educational Vouchers And Academic Performance, Nicole Kvidera

Political Science Theses and Capstones

Every time our elected representatives are looking at budget, or election time rolls around, or a family is considering moving, the topic of education is in the thoughts and on the minds of many. Over the years there have been many different education reforms and proposed ideas. This presentation will go in-depth into one such educational reform idea. Educational vouchers have been studied in various ways over the years; the data for this study comes from Milwaukee, Wisconsin and gathered over the course of years. The data gathered allows one to compare students in Milwaukee Public Schools and students that …

Learn This Lesson: We Really Can't Have It All, Aaron W. Hughey

Counseling & Student Affairs Faculty Publications

No abstract provided.

Intergenerational Earnings Mobility In Singapore And The United States, Irene Y. H. Ng, Xiaoyi Shen, Kong Weng Ho

Research Collection School Of Economics

This study compared intergenerational earnings mobility in Singapore and the United States by replicating the sample criteria in the Singapore National Youth Survey on the U.S. Panel Study of Income Dynamics. The mean estimated earnings elasticities are almost identical: 0.26 in Singapore and 0.28 in the United States. Transformed to 0.44 and 0.47 respectively to reflect permanent status, mobility in the two countries is moderately low compared internationally. The finding of similar mobility is not surprising given that the two countries have similar economic realities, welfare systems, education regimes, and labor structures. Policy makers face the daunting challenge of overcoming …

A Comprehensive Economic Stimulus For Our Failing Economy, Sarah R. Anderson, Steven T. Ferraro, Jeffrey D. Greenlaw, Justin E. Holz, David H. Krisch, Jonathan M. Koury, Jamee L. Kuznicki, Stephen M. Mcnamee, Jeffrey D. Ryckbost, Kristi L. Saeger, Andrew L. Smith, Daniel B. Sprague, Ryan Willaurer, Timothy D. Wills, Benjamin B. Wood

Gettysburg Economic Review

This paper presents a comprehensive plan to fix the ailing American economy, through a five-step approach. First, the Federal Reserve must continue to broaden the scope of monetary policy, by purchasing and selling long-term securities. Manipulating expectations through FOMC statements is another tool at the Federal Reserve’s disposal. Secondly, the government must enact fiscal stimulus to stabilize the economy in the short and medium runs, through investment in infrastructure projects, green technology, fusion technology, and science education. Additionally, the new fiscal policy must tackle the mortgage meltdown, which is weighing down the entire economy. Third, the regulatory system must be …

The Economic Decline Of Zimbabwe, Chidochashe L. Munangagwa

Gettysburg Economic Review

For the past decade, Zimbabwe has been experiencing an economic decline that has resulted in an inflation rate of 231 million percent and an unemployment rate of over 90 percent. Past research has concluded that the economic decline of Zimbabwe has mainly been caused by poor monetary policies and failure of fiscal policies to control the budget deficit. This research aimed to closely examine some of these policies that the Zimbabwean government implemented, the effects of these policies on economic activity, employment and inflation levels in the country. By interviewing many economic analysts in Zimbabwe, I managed to gather the …

The Gettysburg Economic Review, Volume 3, Spring 2009

Gettysburg Economic Review

No abstract provided.

Energy Security: An Australian Nuclear Power Industry, Geoff I. Swan

Australian Security and Intelligence Conference

Climate change and energy security are driving a worldwide renaissance in nuclear power. An Australian nuclear power industry has also been seriously investigated by the Australian government and its agencies. This paper provides a broad overview of the nuclear fuel cycle and the nuclear power industry. It identifies aspects that are sensitive to nuclear terrorism and nuclear weapons proliferation to help security professionals identify threats and prepare for a possible Australian nuclear power industry.

The Effects Of Framing, Risk, And Uncertainty On Contributions Toward A Public Account: Experimental Evidence, Justin E. Holz

Gettysburg Economic Review

This paper uses laboratory evidence from four strategically equivalent voluntary contribution games to evaluate differences in contributions toward a public account due to framing, risk, and uncertainty. I test four hypotheses. (1) Individuals contribute more to a public account when the dilemma is framed as the mitigation of a public loss than the provision of a public good. (2) Individuals contribute more to a public account when the loss is certain than when faced with the risk of a loss. (3) Individuals contribute more to a public account when the loss is certain than when environmental uncertainty is associated with …

Long-Term Contracts And The Principal-Agent Problem, Elizabeth A.R. Purcell

Gettysburg Economic Review

This paper examines the principal-agent problem within professional sports. Imperfect information between managers and players, as well as the guaranteed income a long-term contract provides, are predicted to provide players with the incentive to alter effort over the length of a contract – especially during the first year of a long-term contract. Regression analysis indicates that players’ performance levels decline during the first year of a long-term contract, suggesting that the effects of the principal-agent problem may outweigh competing effects. The study does not, however, suggest that players increase performance in the final year of a contract.

A Look At Women And Abortion In The United States, Denitsa D. Koleva, Kristina V. Marinova, Robyn A. Byrne

Gettysburg Economic Review

The issue of abortion is defined by ethical questions and, often, controversial views. This paper argues the importance of a coherent and enhanced effort to study the quantitative relationship between women’s characteristics and the average number of abortions in the United States. It specifically looks at the average number of previous abortions and socioeconomic and demographic characteristics, as this relationship has not been explored before in the existing literature. We expect to establish a correlation between the average number of previous abortions and characteristics such as age, marital status, income and highest degree of education completed. An empirical model is …

A Proposed International Unit Of Account : Implications For Financial Markets, Commodity Markets, And Research, Lok Sang Ho

Centre for Public Policy Studies : CPPS Working Paper Series

There are substantial benefits from having an indexed unit of account for denominating bonds, contracting, and for quoting commodity prices. A new real effective exchange rate (REER) index is derived using GDP weights and an implicit world price index obtained incidental to the derivation of the indexed unit of account. In a prototype exports function estimation, this new index beats most of the other published real effective exchange rate indices. The superior performance is probably due to the fact that with globalization and production fragmentation trade weights have become increasingly misleading because of the prevalence of re-exports and even re-re-exports.

Regulation With Direct Benefits Of Information Disclosure And Imperfect Monitoring, Mary F. Evans, Scott M. Gilpatric, Lirong Liu

CMC Faculty Publications and Research

We model the optimal design of programs requiring heterogeneous firms to disclose harmful emissions when disclosure yields both direct and indirect benefits. The indirect benefit arises from the internalization of social costs and resulting reduction in emissions. The direct benefit results from the disclosure of previously private information which is valuable to potentially harmed parties. Previous theoretical and empirical analyses of such programs restrict attention to the former benefit while the stated motivation for such programs highlights the latter benefit. When disclosure yields both direct and indirect benefits, policymakers face a tradeoff between inducing truthful self-reporting and deterring emissions. Internalizing …

Hybrid Allocation Mechanisms For Publicly Provided Goods, Mary F. Evans, Christian A. Vossler, Nicholas E. Flores

CMC Faculty Publications and Research

Motivated by efficiency and equity concerns, public resource managers have increasingly utilized hybrid allocation mechanisms that combine features of commonly used price (e.g., auction) and non-price (e.g., lottery) mechanisms. This study serves as an initial investigation of these hybrid mechanisms, exploring theoretically and experimentally how the opportunity to obtain a homogeneous good in a subsequent lottery affects Nash equilibrium bids in discriminative and uniform price auctions. The lottery imposes an opportunity cost to winning the auction, systematically reducing equilibrium auction bids. In contrast to the uniform price auction, equilibrium bids in the uniform price hybrid mechanism vary with bidder risk …

Can Non-State Certification Systems Bolster State-Centered Efforts To Promote Sustainable Development Through The Clean Development Mechanism, Jonathan G.S. Koppell, Kelly Levin, Benjamin Cashore

Publications from President Jonathan G.S. Koppell

Increasing economic globalization has coincided with the emergence and escalating influence of non-state actors and organizations in domestic and international policymaking, from shaping policy agendas to promoting private authority. The latter phenomenon has arisen, at least in part, from a critique of states' failures to adopt effective and enduring environmental policies. Rather than contest "command and control" institutions, non-state strategies embrace market approaches built around incentives and price mechanisms. Several forms of non-state authority have emerged, including corporate social responsibility, provision of information through labeling, and self-reporting.

Cyclicality Of State Budgeting: A Political-Economy Analysis., Ian W. Cummins

Honors Theses

This paper disentangles the effect of political ideology and budget rules on fiscal cyclicality across the U.S. states. Using panel data from 1963 to 2006, liberal states are found to be significantly less procyclical than conservative ones. The impact of balanced budget constraints is contingent on the ideological orientation of the state in which they are imposed. Tight balanced budget rules are not binding on conservative states, but are binding on liberal ones. Where they are binding, budget rules mediate the link between voter preferences and policy outcomes skewing them toward greater procyclicality.

Effect Of Suburban Transit Oriented Developments On Residential Property Values, Shishir Mathur, Christopher Ferrell

Faculty Publications, Urban and Regional Planning

No abstract provided.

Keeping Dictators Honest: The Role Of Population, Quoc-Anh Do, Filipe R. Campante

Research Collection School Of Economics

In order to explain the apparently paradoxical presence of acceptable governance in many non-democratic regimes, economists and political scientists have focused mostly on institutions acting as de facto checks and balances. In this paper, we propose that population plays a similar role in guaranteeing the quality of governance and redistribution. We argue and demonstrate with historical evidence that the concentration of population around the policy making center serves as an insurgency threat to a dictatorship, inducing it to yield to more redistribution and better governance. We bring this centered concept of population concentration to the data through the Centered Index …