The Us Financial Crisis, Emerging Markets And The Effects Of Imf Loans,
2012
University of New Orleans
The Us Financial Crisis, Emerging Markets And The Effects Of Imf Loans, Bridgette Bain
Journal for the Advancement of Developing Economies
The main hypothesis of this paper is that emerging markets with outstanding debt from the IMF and their economies are more severely affected by shocks to the world than countries that do not undertake IMF debt. The effect that shocks have on these economies is also dependent upon the size of the debt borrowed. This paper analyzes the effects that outstanding IMF debt has on emerging markets. Essentially, it observes the responses of emerging markets to shocks in their economy when they are indebted to the IMF. We observe 35 emerging markets as defined by Dow Jones in 2010 and …
Willingness To Pay For Country-Of-Origin Labeled, Traceable, And Bse-Tested Beef,
2012
University of Kentucky
Willingness To Pay For Country-Of-Origin Labeled, Traceable, And Bse-Tested Beef, Kar Ho Lim
Theses and Dissertations--Agricultural Economics
While previous studies have investigated country-of-origin effect from various angles, it remained unexplored the extent to which Country of Origin Labeling (COOL) affects U.S. beef imports from specific countries. Using choice-experiment data, willingness to pay (WTP) for Australian, Canadian beef in addition to other enhancement attributes were estimated with a Mixed Logit Model and a Latent Class Model. The results revealed unobserved taste heterogeneity and important differences in the WTP between the imported and domestic steak. The Latent Class Model estimated the range of discount needed for consumers to switch from U.S. to Canadian steak was a range from $1.09 …
Bayesian Learning Of Impacts Of Self-Exciting Jumps In Returns And Volatility,
2012
ESSEC Business School
Bayesian Learning Of Impacts Of Self-Exciting Jumps In Returns And Volatility, Andras Fulop, Junye Li, Jun Yu
Research Collection School Of Economics
The paper proposes a new class of continuous-time asset pricing models where negative jumps play a crucial role. Whenever there is a negative jump in asset returns, it is simultaneously passed on to diffusion variance and the jump intensity, generating self-exciting co-jumps of prices and volatility and jump clustering. To properly deal with parameter uncertainty and in-sample over-fitting, a Bayesian learning approach combined with an efficient particle filter is employed. It not only allows for comparison of both nested and non-nested models, but also generates all quantities necessary for sequential model analysis. Empirical investigation using S&P 500 index returns shows …
Three Econometric Essays On Continuous Time Models,
2012
Singapore Management University
Three Econometric Essays On Continuous Time Models, Xiaohu Wang
Dissertations and Theses Collection (Open Access)
Multivariate continuous time models are now widely used in economics and finance. Empirical applications typically rely on some process of discretization so that the system may be estimated with discrete data. The Chapter 2 introduces a framework for discretizing linear multivariate continuous time systems that includes the commonly used Euler and trapezoidal approximations as special cases and leads to a general class of estimators for the mean reversion matrix. Asymptotic distributions and bias formulae are obtained for estimates of the mean reversion parameter. Explicit expressions are given for the discretization bias and its relationship to estimation bias in both multivariate …
Incentivizing Biodiversity Conservation: The Ecological Icms In Brazil,
2012
Claremont McKenna College
Incentivizing Biodiversity Conservation: The Ecological Icms In Brazil, Erin Franks
CMC Senior Theses
This study evaluates the effectiveness of the ecological ICMS (ICMS-e) in the Brazilian Amazon, an intragovernmental transfer for incentivizing biodiversity conservation. Tax funds are passed from state governments to municipalities in proportion to the amount of protected area within their borders; biological reserves, sustainable use areas, and indigenous lands are all considered. Econometric analysis using a fixed effects model found that the policy had little positive effect on increasing protected areas compared to the significant negative influence of poor land tenure, agricultural influences, and lack of monitoring for illegal deforestation. However, the policy may increase municipal governments' acceptance of and …
Occupy This: The Effect Of Income Inequality On Gdp Per Capita Growth Using Panel Data In The United States From 1963 To 2009,
2012
Claremont McKenna College
Occupy This: The Effect Of Income Inequality On Gdp Per Capita Growth Using Panel Data In The United States From 1963 To 2009, Dylan B. Lee
CMC Senior Theses
Income inequality and its relationship to long-term GDP per capita growth has been researched for decades since the development of the Kuznet’s Curve. Theoretical and empirical research has shown mixed results including positive, negative, non-existent, or statistically insignificant relationships. Empirical research on income inequality and economic growth in the United States has also shown mixed results. In addition to using existing data, this paper uses originally-constructed Gini Coefficients from 2005 to 2009. A statistically significant negative correlation between income inequality, and both short-term growth and long-term growth is found in the analysis of this data. Finally, this paper attempts to …
The Evolution Of The Music Industry In The Post-Internet Era,
2012
Claremont McKenna College
The Evolution Of The Music Industry In The Post-Internet Era, Ashraf El Gamal
CMC Senior Theses
The rise in the prevalence of the Internet has had a wide range of implications in nearly every industry. Within the music business, the turn of the millennium came with a unique, and difficult, set of challenges. While the majority of academic literature in the area focuses specifically on the aspect of file sharing within the Internet as it negatively impacts sales within the recording sector, this study aims to assess the Internet’s wider impacts on the broader music industry. In the same time that record sales have plummeted, the live music sector has thrived, potentially presenting alternative business models …
Conditional Independence Specification Testing For Dependent Processes With Local Polynomial Quantile Regression,
2012
Singapore Management University
Conditional Independence Specification Testing For Dependent Processes With Local Polynomial Quantile Regression, Liangjun Su, Halbert L. White
Research Collection School Of Economics
We provide straightforward new nonparametric methods for testing conditional independence using local polynomial quantile regression, allowing weakly dependent data. Inspired by Hausman's (1978) specification testing ideas, our methods essentially compare two collections of estimators that converge to the same limits under correct specification (conditional independence) and that diverge under the alternative. To establish the properties of our estimators, we generalize the existing nonparametric quantile literature not only by allowing for dependent heterogeneous data but also by establishing a weak consistency rate for the local Bahadur representation that is uniform in both the conditioning variables and the quantile index. We also …
Folklore Theorems, Implicit Maps, And Indirect Inference,
2012
Singapore Management University
Folklore Theorems, Implicit Maps, And Indirect Inference, Peter C. B. Phillips
Research Collection School Of Economics
The delta method and continuous mapping theorem are among the most extensively used tools in asymptotic derivations in econometrics. Extensions of these methods are provided for sequences of functions that are commonly encountered in applications and where the usual methods sometimes fail. Important examples of failure arise in the use of simulation-based estimation methods such as indirect inference. The paper explores the application of these methods to the indirect inference estimator (IIE) in first order autoregressive estimation. The IIE uses a binding function that is sample size dependent. Its limit theory relies on a sequence-based delta method in the stationary …
Estimating The Impact Of Cell Phone Laws On Car Accident Fatalities,
2012
Pepperdine University
Estimating The Impact Of Cell Phone Laws On Car Accident Fatalities, Odinakachi Anyanwu
Pepperdine Policy Review
No abstract provided.
Are All R&D Dollars Created Equal?: A Look At The Effect Of Federal Investment On Patent Success,
2012
Pepperdine University
Are All R&D Dollars Created Equal?: A Look At The Effect Of Federal Investment On Patent Success, Casey J. O'Neil
Pepperdine Policy Review
No abstract provided.
Buyer's Equilibrium With Capacity Constraints And Restricted Mobility: A Recursive Approach,
2012
Chapman University
Buyer's Equilibrium With Capacity Constraints And Restricted Mobility: A Recursive Approach, Gabriele Camera, Jaehong Kim
ESI Working Papers
We study a decentralized trading model as in Peters (1984), where heterogeneous market participants face a trade-o between price and trade probability. We present a novel proof of existence of a unique demand vector in Nash equilibrium, based on a recursive approach that exploits the monotonicity of matching functions.
Building And Rebuilding Trust With Promises And Apologies,
2012
Chapman University
Building And Rebuilding Trust With Promises And Apologies, Eric Schniter, Roman M. Sheremeta, Daniel Sznycer
ESI Working Papers
Using trust games, we study how promises and messages are used to build new trust where it did not previously exist and to rebuild damaged trust. In these games, trustees made non-binding promises of investment-contingent returns, then investors decided whether to invest, and finally trustees decided how much to return. After an unexpected second game was announced, but before it commenced, trustees could send a one-way message. This design allowed us to observe the endogenous emergence and natural distribution of trust-relevant behaviors and focus on naturally occurring remedial strategies used by promise-breakers and distrusted trustees, their effects on investors, and …
Too Many Cooks Spoil The Broth: How The Tragedy Of The Anticommons Emerges In Organizations,
2012
Chapman University
Too Many Cooks Spoil The Broth: How The Tragedy Of The Anticommons Emerges In Organizations, Matthew W. Mccarter, Shirli Kopelman, Thomas A. Turk, Candace Ybarra
ESI Working Papers
In organizations, conflict often revolves around commons resources because they are critical for influence, performance, and organizational survival. Research on property rights, territoriality, and social dilemmas suggests that to reduce such conflict, organizations should facilitate the (psychological) privatization of commons resources. We complement these three literatures by drawing from the legal, organizational, and social psychology literatures to model how psychologically privatizing organizational commons resources – to prevent a tragedy of the commons (an overuse problem) – can lead to the emergence of equivalently problematic tragedy in organizations: the tragedy of the anticommons (an underuse problem). Our model contributes to these …
Experimental Evidence On The Properties Of The California’S Cap And Trade Price Containment Reserve,
2012
Chapman University
Experimental Evidence On The Properties Of The California’S Cap And Trade Price Containment Reserve, Rachel Bodsky, Domenic Donato, Kevin James, David Porter
ESI Working Papers
We report on a series of experiments to examine the properties of California’s Reserve Sale allocation mechanism to be implemented as part of the forthcoming cap and trade program and compare it with an alternative reserve sale mechanism. The proposed reserve sale mechanism allows covered entities to purchase allowances after the primary auction sale at fixed prices. If demand for units is greater the amount supplied in the reserve sale, a Proportional Rationing rule is used to distribute allowances based on submitted request for units. This rule is contrasted with to an alternative rule, Equal Rationing in which allowances are …
Information Effects In Multi-Unit Dutch Auctions,
2012
Chapman University
Information Effects In Multi-Unit Dutch Auctions, Joy A. Buchanan, Steven Gjerstad, David Porter
ESI Working Papers
We design a multi-unit descending-price (Dutch) auction mechanism that has applications for resource allocation and pricing problems. We address specific auction design choices by theoretically and experimentally determining optimal information disclosure along two dimensions. Bidders are either informed of the number of bidders in the auction, or know that it is one of two possible sizes; they also either know the number of units remaining for sale or are unaware of how many units have been taken by other bidders. We find that revealing group size decreases bids, and therefore revenue, if units remaining are not shown. When group size …
Do Liars Believe? Beliefs And Other-Regarding Preferences In Sender-Receiver Games,
2012
Chapman University
Do Liars Believe? Beliefs And Other-Regarding Preferences In Sender-Receiver Games, Roman M. Sheremeta, Timothy W. Shields
ESI Working Papers
We examine subjects‟ behavior in sender-receiver games where there are gains from trade and alignment of interests in one of the two states. We elicit subjects‟ beliefs, risk and other-regarding preferences. Our design also allows us to examine the behavior of subjects in both roles, to determine whether the behavior in one role is the best response to the subject‟s own behavior in the other role. The results of the experiment indicate that 60 percent of senders adopt deceptive strategies by sending favorable message when the true state of the nature is unfavorable. Nevertheless, 67 percent of receivers invest conditional …
Are You A Good Employee Or Simply A Good Guy? Influence Costs And Contract Design,
2012
Chapman University
Are You A Good Employee Or Simply A Good Guy? Influence Costs And Contract Design, Brice Corgnet, Ismael Rodriguez-Lara
ESI Working Papers
We develop a principal–agent model with a moral hazard problem in which the principal has access to a hard signal (the level of output) and a soft behavioral signal (the supervision signal) about the agent's level of effort. In our model, the agent can initiate influence activities and manipulate the behavioral signal. These activities are costly for the principal as they detract the agent from the productive task. We show that the agent's ability to manipulate the behavioral signal leads to low-powered incentives and increases the cost of implementing the efficient equilibrium as a result. Interestingly, the fact that manipulation …
Driving Qi With Research: Findings From Public Health Pbrns,
2011
University of Kentucky
Driving Qi With Research: Findings From Public Health Pbrns, Glen P. Mays
Health Management and Policy Presentations
Public health agencies are increasingly experimenting with quality improvement (QI) strategies designed to enhance the effectiveness and efficiency of their efforts. Does QI work in public health, and if so for whom and under what circumstances? What QI strategies work best for which types of public health process failures, and at what cost? Research underway through the Public Health Practice-Based Research Networks (PBRN) Program is examining these types of questions to build an evidence base for public health QI.
Rhode Island Current Conditions Index — December 2011,
2011
University of Rhode Island
Rhode Island Current Conditions Index — December 2011, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
