Trade Imbalance, Heavy Goods, And Pollution,
2024
Singapore Management University
Trade Imbalance, Heavy Goods, And Pollution, Jungho Lee, Shang-Jin Wei, Jianhuan Xu
Research Collection School Of Economics
We propose a new welfare effect of trade surplus. Guided by insight from several fields in economics, we provide evidence that an increase in a country's trade surplus alters the unit shipping costs for its trade and the composition of its imports in ways that induce more pollution in the country in equilibrium. This new form of welfare loss of trade imbalance has not been accounted for in the existing international economics literature
Utilizing Extreme Value Theory To Uncover Yield Distributions From Farm And County Level Historical Corn Yields,
2024
University of Nebraska-Lincoln
Utilizing Extreme Value Theory To Uncover Yield Distributions From Farm And County Level Historical Corn Yields, Gerald H. Van Tassell
Department of Agricultural Economics: Dissertations, Theses, and Student Research
Yield risk represents a major portion of the financial risk facing corn producers and is found in the left tail of the yield distribution. Traditional methods for generating yield distributions fall into two categories: parametric and non-parametric. The shape and behavior of the tail of parametric yield distributions are determined by distributional assumptions. Non-parametric distributions fail to account for the possibility of as yet unseen extreme events, often referred to as “Black Swans”. Extreme Value Theory (EVT) rectifies these issues by providing an empirical, parametric estimate of the risk of extreme events, regardless of the underlying distribution of corn yields. …
Value Added Tax Rate Variation, Import Demand And Sectoral Output In Nigeria,
2024
Department of Economics, Benue State University Makurdi, Benue State, Nigeria.
Value Added Tax Rate Variation, Import Demand And Sectoral Output In Nigeria, Joshua K. Nomkuha, Aondoawase Asooso, Philip T. Abachi
CBN Journal of Applied Statistics (JAS)
This study employs computable general equilibrium (CGE) model to estimate the effect of increase in value added tax (VAT), from 5 per cent to 7.5 per cent, on import demand and sectoral output in Nigeria. The study uses 2020 as the base year for the data analysis. The results show that increase in VAT affects import demand negatively, based on import penetration ratios, with mixed effect across six sectors. The implication of the result is that the VAT policy discourage consumption of foreign products, and constitute excess burden to consumers of such products in Nigeria. The results further reveal that …
Trade Liberalization, Non-Oil Export And Economic Growth In Nigeria,
2024
Department of Economics, Benue State University, Makurdi, Nigeria.
Trade Liberalization, Non-Oil Export And Economic Growth In Nigeria, Jerome T. Andohol, Terhemen Tarzoor, Dennis T. Nomor
CBN Journal of Applied Statistics (JAS)
The study examines the impact of trade liberalization and non-oil exports on economic growth in Nigeria from 1986 to 2021. The study utilizes an autoregressive distributed lag model and found the combined effect of trade liberalization and non-oil exports to be positive and statistical significant. While trade liberalization alone may have negative consequences, its synergy with a robust non-oil export can drive sustainable economic growth. The study recommends that strategies to enhance non-oil exports should be encouraged to support the effectiveness of trade liberalization in promoting growth.
The Effectiveness Of Monetary Policy Transmission In Nigeria: Evidence From The Monetary Policy Rate And The Cash Reserve Ratio,
2024
Department of Economics and Development Studies, Federal University of Kashere, Gombe.
The Effectiveness Of Monetary Policy Transmission In Nigeria: Evidence From The Monetary Policy Rate And The Cash Reserve Ratio, Abdulrahman A. Nadani, Auwal Isah
CBN Journal of Applied Statistics (JAS)
This paper investigates the effectiveness of the Monetary Policy Rate (MPR) and Cash Reserve Ratio (CRR) as policy instruments in Nigeria. A structural VAR model is employed to simulate two distinct models measuring shocks from the MPR and the CRR using monthly data from January 2006 to December 2023. Findings show that contractionary monetary policy impulses using MPR and the CRR contract output and credit to the private sector, inflation remains largely positive in the two models, known as the “price puzzle”, but the puzzle is more persistent in the MPR equation. Moreover, shock to MPR strongly influences short-term interest …
Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery,
2024
Federal Inland Revenue Service, Abuja, FCT
Stock Market Volatility In The United Kingdom: Simulating Post-Covid-19 Recovery, Bala A. Dahiru, Mohammed Shuaibu, Najibullah Hassanov
CBN Journal of Applied Statistics (JAS)
This paper investigates the time it would take for the FTSE-100 index to reach its post-COVID-19 peak. The paper utilises an exponential generalised autoregressive conditional heteroscedasticity (EGARCH) model that accounts for leverage effect and asymmetries. The preferred models amongst competing variants was the Autoregressive Moving Average (ARMA)-EGARCH(2,1) specification and was used to predict daily FTSE-100 data from 5th January 2000 to 21st June 2024. The empirical exercise showed that the COVID-19-induced financial crisis negatively affected the United Kingdom’s stock market performance. The results show that the FTSE100 index could reach its post-pandemic peak around 27th August, 2024 (two months after …
Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market,
2024
Department of Economics, Bayero University Kano, Nigeria
Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market, Shafiu Ibrahim Abdullahi
CBN Journal of Applied Statistics (JAS)
This study analyzes the effect of COVID-19 pandemic on the performance of Nigerian stock market. The study uses a number of models that include autoregressive distributed lag, vector auto regression, exponential generalized autoregressive conditional heteroskedasticity and multivariate generalized autoregressive conditional heteroskedasticity models. Findings show that reported cases of COVID-19 have causal effect on daily returns of the Nigerian stock market. The results also show that Nigerian stocks are good for portfolio diversification. The results of variance decomposition confirm the declining importance of COVID-19 cases and deaths as the pandemic slows down. Further results show that, for the duration of the …
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria,
2024
Department of Economics, Federal University of Lafia
Impact Of Fiscal Policy On Financial Inclusion And Development In Nigeria, Okwanya Innocent, Taiwo A. Olusegun, Aimua E. Peace
CBN Journal of Applied Statistics (JAS)
This paper examines the effect of fiscal policy on financial inclusion and development in Nigeria. The study employs the Autoregressive Distributed Lag (ARDL) model and impulse response function (IRF) to determine the extent and response of financial inclusion and development to fiscal policy changes in Nigeria. The study derives a financial inclusion index from three core indicators: access, usage and quality of financial services, while financial development is measured as the ratio of money supply to GDP (M2/GDP). The results show that government expenditure has a significant positive effect on financial inclusion and development, while tax revenue exerts a negative …
Essays On Cryptocurrency Assets,
2024
CUNY Graduate Center
Essays On Cryptocurrency Assets, Minwoo Song
Dissertations, Theses, and Capstone Projects
Chapter 1 - Herd Instinct in the Digital Currency Markets: In this chapter, We establish that the actions of influential opinion leaders in the digital currency markets and potential investors following their lead drive abnormal cryptocurrency returns. We develop a psychological and behavioral factor, named the herd behavior index, that detects the herd instinct of the investors in cryptocurrency markets and captures anomalies in cryptocurrency returns. Our finding shows that the herd behavior index can explain the variation in cryptocurrency returns. Moreover, there exists a time-series relationship between abnormal returns and the investors’ herd instinct, and the herd behavior index …
Ideology And Economic Change,
2024
Chapman University
Ideology And Economic Change, Jared Rubin, Debin Ma
ESI Working Papers
This paper revisits the old theses of the contrasting paths to modernization between Japan and China. It develops a new analytical framework regarding the role of ideology and ideological change—Meiji Japan’s decisive turn towards the West pitted against Qing China’s lethargic response to Western imperialism—as the key driver behind these contrasting paths. Our framework and historical narrative highlight the contrast between Tokugawa Japan’s feudal, decentralized political regime and Qing China’s centralized bureaucratic system as a key determinant driving the differential patterns of ideological realignment. We argue that the 1894-95 Japanese naval victory over China could not be justified under the …
Moral Content Diminishes Preference Falsification,
2024
Imperial College London
Moral Content Diminishes Preference Falsification, Maxine Bonneau, Tanya O'Garra, Praveen Kujal
ESI Working Papers
We examine how the moral (or neutral) content of an issue influences the tendency to falsify attitudes, given varying social and monetary incentives to engage in such ‘preference falsification’. We conduct an incentivized two stage online experimental study where, in a prior first stage, attitude strength over moral and neutral issues is elicited. Then, in the second stage participants in groups of ten were asked to express their preferences regarding the moral or neutral issues for each possible combination of supporters and opposers in their group, each associated with varying monetary payoffs. More than half of the participants falsify their …
Hosting Mega Events Impact On Gdp Growth: A Panel Data Analysis,
2024
Bryant University
Hosting Mega Events Impact On Gdp Growth: A Panel Data Analysis, Silas Pearce
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the impact of hosting “mega events” such as the Olympics on a country’s GDP growth. The study incorporates information on the country’s factors of economic development. Spillovers will be modeled through the state of the global economy by using controls such as countries that did not host mega events. The results show that countries that host the Olympics do not see any extra GDP growth than those that did not host an event.
A Panel Data Analysis Of The Effect Of Corruption And Macroeconomic Factors On Inequality And Poverty In Latin America,
2024
Bryant University
A Panel Data Analysis Of The Effect Of Corruption And Macroeconomic Factors On Inequality And Poverty In Latin America, Annie Mcdonald
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates how a country’s income inequality and poverty are affected by corruption, and other economic indicators. The study’s purpose is to find which countries harbor corruption that causes more inequality and poverty and if high or low levels of macroeconomic factors, like unemployment for example, cause an increase in inequality/poverty as well. The panel data will include 11 countries located in Latin America and it will cover a ten-year period (2012-2021). After running six regressions, the results showed there were some differences from other papers. It was found that certain countries exhibit unique challenges that contribute to their …
Economic Peaks, An Analysis Of Financial & Real Estate Speculations In The Top 5 U.S Cities,
2024
Bryant University
Economic Peaks, An Analysis Of Financial & Real Estate Speculations In The Top 5 U.S Cities, Nicholas M. Basley
Empirical Economic Bulletin, An Undergraduate Journal
Economic Peaks conducts a comprehensive analysis of financial and real estate speculations in the United States, more specifically the top five cities per population in the United States. This study spans the period from 2000 to 2023, utilizing time series data to reveal economic trends and identify potential structural breaks during recession periods. By employing advanced statistical methods, the research aims to discern distinctive patterns in the housing and financial markets of each of the major cities, unveiling the presence of unsustainable price appreciation and the factors contributing to its emergence. This study seeks to offer valuable insights into the …
Hdi And Standard Of Living: A Panel Data Analysis Of Latin America,
2024
Bryant University
Hdi And Standard Of Living: A Panel Data Analysis Of Latin America, Matthew Susich
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the correlation between the Human Development Index and other significant measures of standard of living. The study incorporates data for upper- and middle-income countries in Latin America (Mexico, Costa Rica, Columbia, Peru, Uruguay, Brazil, Paraguay, Guatemala, Jamaica, Belize, and Bolivia) surrounding standard of living, including GDP per capita, public spending on education, public spending on health, GNI per capita, unemployment, infant mortality, and inflation. The conclusions from this study are drawn from regression analysis and tests of correlation between the Human Development Index and alternative measures of standard of living. The results show that unemployment and infant …
Hitting The Books: An Empirical Analysis Of The Effect Of Education Expenditure On Gdp Per Capita And Economic Growth,
2024
Bryant University
Hitting The Books: An Empirical Analysis Of The Effect Of Education Expenditure On Gdp Per Capita And Economic Growth, Matt Simmons
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the link between education spending in Mexico and Central American countries and illegal immigration to the United States. Despite challenges like poverty and governance issues, these nations experience significant migration to the U.S., underscoring the need for deeper insights. Analyzing economic motivations and migration costs, the study emphasizes education expenditure's role in economic growth. Through empirical analysis, it highlights the importance of addressing root causes and offers policy recommendations. Overall, this research contributes to understanding the intricate relationship between education, immigration, and economic development.
How Unsdgs Are Reflected In Folklore,
2024
Bryant University
How Unsdgs Are Reflected In Folklore, Jacob Mann
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the relationship between the United Nation’s Sustainable Development Goals in a country and the prevalence of those goals in that country’s folklore. The study incorporates folklore collected into an aspect-based sentiment analyzer to examine the prevalence of, and attitude towards various aspects of the text. A combination of ConceptNet and the widely available Natural Language Toolkit is implemented to retrieve polarity scores related to key aspects of the texts. The results indicate that there are correlations between the attitude towards a theme in folklore, and the attitudes towards that theme in a country. JEL
Shifting The Ice: Analyzing The Impact Of The 2013 Nhl Cba To The Competitive Balance Of The League,
2024
Bryant University
Shifting The Ice: Analyzing The Impact Of The 2013 Nhl Cba To The Competitive Balance Of The League, Ryan Lacy
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates whether the 2013 National Hockey League (NHL) Collective Bargaining Agreement (CBA), which hardened the existing salary cap, increased team revenue sharing, and instituted additional restrictions on player contracts, results in a more competitively balanced league. The study incorporates an OLS regression and Quantile regression to examine the impact of the 2013 CBA on the competitive balance of the league. The results show that the changes allow for a dispersion of talent, specifically offensive talent, and demonstrated a positive relationship between spending and points obtained by teams in the top 25% of the league. Conversely, teams that did …
The Causes All Time High Chronic Homelessness: A Panel Analysis,
2024
Bryant University
The Causes All Time High Chronic Homelessness: A Panel Analysis, Robert Knight
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates what economic indicators affect the rate of homelessness in the United States. By combining both the personal issues of the homeless people themselves along with economic structural issues in U.S. this study finds what the largest determinants of chronic homelessness. The study includes variables such as median house prices from the Case Shiller Index, the poverty rate, unemployment rate, health care expenditures per capita and demographics to find what causes a higher homeless rate. The data used to determine the conclusions will be pulled from twenty different major U.S. metropolitan cities to showcase how different economic variables …
Time Series Analysis Of The Impact Of Climate Change On The Rocky Mountain Ski Industry,
2024
Bryant University
Time Series Analysis Of The Impact Of Climate Change On The Rocky Mountain Ski Industry, Charlotte Christo
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the correlation between climate change and the ski industry. This study will incorporate the annual snowfall and mean temperature and annual visitations to American ski resorts. The model studied will investigate if the rising temperatures affect snow fall totals in popular ski areas as well the visitor amounts per season. This model will be used to run a multiple regression that will account for various controls including the distribution of snow fall throughout the season.
