Public Economics Commons^™

The Inadequacy Of Our Economic Agenda, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The government and opposition parties deserve the nation’s gratitude for sitting together to evolve a national consensus on finding solutions to the economic problems facing the country. My research suggests that the setting of long-term economic direction, continuity and consistency of economic policies, as well as the predictability and transparency of decision-making, are important factors that boost investor confidence and stimulate economic growth. Changes in political regimes, under those conditions, do not make any significant negative impact.

The present efforts by the federal government’s economic team to seriously discuss a 10-point economic agenda are highly commendable. But in my view, …

The Gettysburg Economic Review, Volume 5, 2011

Gettysburg Economic Review

No abstract provided.

Local Technological And Demographic Effects On Electricity Transmission: A Spatially Lagged Local Estimation Of New England Marginal Losses, Jacob P. Hochard

Gettysburg Economic Review

Electricity transmission is subject to distribution losses and congestion costs. Economists have prior theorized that these transmission imperfections could create divided markets with electricity generating spatial oligopolists. This concern has been largely dismissed because of recent technological advances in electricity transmission. The effects of local technological and demographic indicators on electricity transmission costs remains both commonly accepted as negligible and spatially untested. This analysis employs a spatially lagged local estimation of New England’s marginal electricity losses with respect to both technological and demographic indicators. The results of this analysis are consistent with the widely accepted notion that technological advances have …

Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott

Gettysburg Economic Review

At the close of the nineteenth and the commencement of the twentieth century, socialism began to gain momentum as a large-scale movement in Europe and the United States. This popularity was supported by an increased influence of the working class in society, which put pressure for representation upon European parliaments and began to secure concrete improvements in labor protection laws. Moreover, socialist proponents looked hopefully towards the living example of the Soviet Union, which began its socialist experiment in 1917 following the success of the Bolshevik Revolution. Socialism, which found its economic grounding in the legacies of such men as …

Monetary And Fiscal Policies: Ordinary Recessions And Financial Crises, Svetoslav I. Semov

Gettysburg Economic Review

This paper uses two different samples to study the effects of monetary and fiscal policies on the profiles of recessions and recoveries. Several results emerge from the econometric analysis presented. First, monetary policy during ordinary recessions and banking crises is a powerful tool with lasting effects that extend to recovery growth rates. However, the effect of monetary policy during financial crises is strongly diminished in the case of forbearance – banks left to function despite being technically insolvent. Second, the effectiveness of fiscal policy is reversed – it is a powerful tool during banking crises, but it does not seem …

"Does It Pay To Be Informed?" Expenditure Efficiency In The Us Mutual Fund Industry, Jan Cerny

Gettysburg Economic Review

The mutual fund industry would like us to believe that fund expenses are justifiable by their extensive management expertise, security analysis and the consequent delivery of returns that exceed the market performance. Management know-how is costly and thus it drives up the expenditure of actively managed mutual funds and potentially lowers their net returns. Nevertheless the fund managers argue that their contributions to the returns fully outweigh their costs and in general their trading strategies add value to the investors. On the other hand many academics hold that such claims are fundamentally misleading and actively managed funds cannot continuously outperform …

Economic Development Analysis & Action Plan: Camden, Maine, Charles S. Colgan

Regional Studies

This report addresses the issues of economic growth in the context of the Town of Camden, one of the 20 communities examined in the Gateway 1 planning process. The intention of this Commercial Development Inventory and Economic Development Analysis is to guide the Economic Development efforts of Camden for the next 5-10 years within the context of the Gateway 1 initiative.

State Of The Northwest Arkansas Region 2011 Report, Katherine A. Deck, Mervin Jebaraj

State of the Northwest Arkansas Region Report

The Center for Business and Economic Research presents the State of the Northwest Arkansas Region Report, an objective analysis of the area’s performance. The report reflects a broad approach to economic development and includes metrics related to innovation, quality of life, and health in addition to measures more often associated with the economy such as employment rates, business growth and income changes. The Northwest Arkansas region’s performance over time is measured and compared with the performance of the United States, Arkansas, and four peer regions: Lexington, Kentucky; Gainesville, Florida; Huntsville, Alabama; and Austin, Texas.

Ohio's Aerospace & Aviation Industries, Wright State University Center For Urban And Public Affairs

Economic Development

Despite the struggling economy and the challenges that have plagued the commercial aviation market, the U.S. Aerospace and Aviation industries have experienced growth and an increase in profits and sales from 2005 to 2009.

There is a window of opportunity for the State of Ohio to emerge as a global industry leader. In order to capitalize on this opportunity, the State must address critical gaps in workforce and economic development. The talent development pipeline must focus not only on meeting the current business demand, but also on anticipating future national demand. This forward reaching strategy would position the state to …

Real-Time Forecasting, Dean D. Croushore

Economics Faculty Publications

This chapter will discuss real-time forecasting in a macroeconomic policy context. I will begin by talking about the Survey of Professional Forecasters (SPF), a survey of private-sector forecasters. Next, I will discuss research on real-time data analysis and its importance in forecasting. Finally, I will discuss real-time forecasting in the 1990s.

From Programmatic Reform To Social Science Research: The National Tax Association And The Promise And Perils Of Disciplinary Encounters, Ajay K. Mehrotra, Joseph J. Thorndike

Articles by Maurer Faculty

This article uses the history of the National Tax Association (NTA), the leading twentieth-century organization of tax professionals, to strengthen our empirical understanding of the disciplinary encounter between law and the social sciences. Building on existing sociolegal scholarship, this article explores how the NTA embodied tax law's ambivalent historical interaction with public economics. Since its founding in 1907, the NTA has changed dramatically from an eclectic and catholic organization of tax professionals with a high public profile to an insular, scholarly association of mainly academic public finance economists. Using a mix of quantitative and qualitative historical evidence, we contend that …

A Sufficient Condition For The Tops-Only Property Of Strategy-Proof Social Choice Functions In The Case Of Two Voters, Huaxia Zeng

Dissertations and Theses Collection (Open Access)

In this thesis, we consider the standard voting model with a finite set of alternatives A and 2 voters, and address the following question: besides Domains D satisfying the

Property T (Chatterji & Sen (2011) ), what are other characteristics of domains that induce every strategy-proof and unanimous social choice function f : Dn → A to satisfy the tops-only property? We impose a minimal richness condition which ensures that for every alternative a ∈ A, there exists a preference ordering where a is maximal. We identify a more general condition on domains that is sufficient for strategy-proofness …

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.

Analysis Of Singapore's Foreign Exchange Market Microstructure, Chee Wai Wan

Dissertations and Theses Collection (Open Access)

This paper analyses the Singapore foreign exchange market from a microstructure approach. Specifically, by applying and modifying the empirical methodology designed by Bollerslev and Melvin (1994), we examine the relationship between bid-ask spreads and the underlying volatility of the USD/SGD. Our data set comprises high-frequency USD/SGD tick data of three separate years (April-June 1989, April-May 2006, April-May 2009). We found that for the USD/SGD: i) the size of bid-ask spreads are positively related to the underlying exchange rate volatility; ii) the magnitude of the dependence on underlying volatility increases as tick volume increases; and iii) the size of the bid-ask …