Structural Inference From Reduced Forms With Many Instruments,
2017
Singapore Management University
Structural Inference From Reduced Forms With Many Instruments, Peter C. B. Phillips, Wayne Yuan Gao
Research Collection School Of Economics
This paper develops exact finite sample and asymptotic distributions for structural equation tests based on partially restricted reduced form estimates. Particular attention is given to models with large numbers of instruments, wherein the use of partially restricted reduced form estimates is shown to be especially advantageous in statistical testing even in cases of uniformly weak instruments. Comparisons are made with methods based on unrestricted reduced forms, and numerical computations showing finite sample performance of the tests are reported. Some new results are obtained on inequalities between noncentral chi-squared distributions with different degrees of freedom that assist in analytic power comparisons.
Essays On Non-Cognitive Skills, Child Labor And Working Conditions,
2017
University of Arkansas, Fayetteville
Essays On Non-Cognitive Skills, Child Labor And Working Conditions, Andres Felipe Cuadros
Graduate Theses and Dissertations
This dissertation uses two institutional datasets for two developing countries and examines several dimensions of economic development. Chapter 1 and 2 use an IV approach to identify the impact of international remittances on the welfare of individuals left behind in Colombia. In Chapter 1, I provide evidence that remittances reduce child labor participation, and the amount of hours worked, a margin ignored by the literature so far. In addition, Chapter 2 explores the impact that this remittance income has over the working conditions for informal workers, a type of job characterized by long working hours and lack of social benefits. …
The Optimal Defense Of Networks Of Targets,
2017
Chapman University
The Optimal Defense Of Networks Of Targets, Dan Kovenock, Brian Roberson
ESI Working Papers
This paper examines a game-theoretic model of attack and defense of multiple networks of targets in which there exist intra-network strategic complementarities among targets. The defender’s objective is to successfully defend all of the networks and the attacker’s objective is to successfully attack at least one network of targets. Although there are multiple equilibria, we characterize correlation structures in the allocations of forces across targets that arise in all equilibria. For example, in all equilibria the attacker utilizes a stochastic ‘guerrilla warfare’ strategy in which a single random network is attacked.
Equilibrium Play In Voluntary Ultimatum Games: Beneficence Cannot Be Extorted,
2017
Chapman University
Equilibrium Play In Voluntary Ultimatum Games: Beneficence Cannot Be Extorted, Vernon L. Smith, Bart J. Wilson
ESI Working Papers
One robust result in experimental economics is the failure to observe equilibrium play in the ultimatum game. A heretofore unnoticed feature of the game is that neither player voluntarily chooses to play the game. Motivated by Adam Smith’s proposition that beneficence—like that of non‐ equilibrium play in the ultimatum game—cannot be extorted by force, we offer the responder the opportunity to opt out of the game for a mere $1 payoff for both players. We observe high rates of equilibrium play with highly unequal splits when responders choose to play such ultimatum games with both fixed and variable sums.
War And Conflict In Economics: Theories, Applications, And Recent Trends,
2017
Simon Fraser University
War And Conflict In Economics: Theories, Applications, And Recent Trends, Erik O. Kimbrough, Kevin Laughren, Roman M. Sheremeta
ESI Working Papers
We review the main economic models of war and conflict. These models vary in details, but their implications are qualitatively consistent, highlighting key commonalities across a variety of conflict settings. Recent empirical literature, employing both laboratory and field data, in many cases confirms the basic implications of conflict theory. However, this literature also presents important challenges to the way economists traditionally model conflict. We finish our review by suggesting ways to address these challenges.
Spatial And Temporal Intricacies Of Natural Resource Use: Studies In Water, Forests, And Hydrocarbons,
2017
The University of New Mexico
Spatial And Temporal Intricacies Of Natural Resource Use: Studies In Water, Forests, And Hydrocarbons, Dadhi Adhikari
Economics ETDs
This dissertation examines spatial and temporal impacts of natural resource use. The second chapter integrates hydrological and economic systems to examine the impact of drought on these two systems and explores the spatial impact of policies aimed to mitigate the drought impact. The systems dynamics model developed for this chapter simultaneously considers the physical hydrology in the Middle Rio Grande water basin in New Mexico, the engineered water management system, and a behavioral model of residential water demand for three cities: Albuquerque, Rio Rancho, and Santa Fe, New Mexico. The simulation results showed that droughts that occur in later periods, …
Rhode Island Current Conditions Index -- July 2017,
2017
University of Rhode Island
Rhode Island Current Conditions Index -- July 2017, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Bondholder Reorganization Of Systemically Important Financial Institutions,
2017
Chapman University
Bondholder Reorganization Of Systemically Important Financial Institutions, Steven Gjerstad
ESI Working Papers
This paper describes a resolution process for faltering financial firms that quickly allocates losses to bondholders and transfers ownership of the firm to them. This process overcomes the most serious flaws in resolution plans submitted by banks under Dodd-Frank Title I and in the FDIC receivership procedure in Dodd-Frank Title II by restoring the balance sheet of a failing financial institution and immediately replacing the management and board of directors who allowed its demise. In almost all bank failures, this process would eliminate the need for government involvement beyond court certification of the reorganization. The procedure overcomes the serious incentive …
Rhode Island Current Conditions Index -- June 2017,
2017
University of Rhode Island
Rhode Island Current Conditions Index -- June 2017, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Quantum Ideas In Economics Beyond Quantum Econometrics,
2017
The University of Texas at El Paso
Quantum Ideas In Economics Beyond Quantum Econometrics, Vladik Kreinovich, Hung T. Nguyen, Songsak Sriboonchitta
Departmental Technical Reports (CS)
It is known that computational methods developed for solving equations of quantum physics can be successfully applied to solve economic problems; there is a whole related research area called quantum econometrics. Current quantum econometrics techniques are based on a purely mathematical similarity between the corresponding equations, without any attempt to relate the underlying ideas. We believe that the fact that quantum equations can be successfully applied in economics indicates that there is a deeper relation between these areas, beyond a mathematical similarity. In this paper, we show that there is indeed a deep relation between the main ideas of …
Macroeconomic Instability Index And Threshold For The Nigerian Economy,
2017
Central Bank of Nigeria
Macroeconomic Instability Index And Threshold For The Nigerian Economy, B. A. G. Amoo, J. K. Achua, N. P. Audu, B. Hamma
Economic and Financial Review
The paper employed statistical algorithms, factor analysis and threshold autoregressive models to address the gaps in management of macroeconomic instability in Nigeria. Using data spanning 2010q1 to 2017q2, the findings showed that the values of macroeconomic instability index (MII) fluctuated between 0.316 and 0.609, with a threshold of 0.461. This showed an inverse relationship between macroeconomic instability and economic growth. This framework could serve as a mechanism to gauge early warning signal of instability in Nigeria.
Unofficial Dollarisation And Monetary Policy In Nigeria,
2017
Central Bank of Nigeria
Unofficial Dollarisation And Monetary Policy In Nigeria, Y. Adamu
Economic and Financial Review
This paper examined the impact of dollarisation on monetary policy in Nigeria, using monthly data spanning 2002 to 2016. The paper adopted the conventional IMF proxy for dollarisation and traced its reactions to changing monetary policy stance. Using the vector autoregression (VAR) model and interbank rate as an indicator of monetary policy stance, the results showed that the size of dollarisation could influence the outcome of monetary policy, though the impact was small. This was evident from the output equations, that inflation did not respond in the first month and responded negatively in the second month. However, from the third …
Indirect Inference In Spatial Autoregression,
2017
University of Southampton
Indirect Inference In Spatial Autoregression, Maria Kyriacou, Peter C. B. Phillips, Francesca Rossi
Research Collection School Of Economics
Ordinary least-squares (OLS) is well known to produce an inconsistent estimator of the spatial parameter in pure spatial autoregression (SAR). In this paper, we explore the potential of indirect inference to correct the inconsistency of OLS. Under broad conditions, it is shown that indirect inference (II) based on OLS produces consistent and asymptotically normal estimates in pure SAR regression. The II estimator used here is robust to departures from normal disturbances and is computationally straightforward compared with quasi-maximum likelihood (QML). Monte Carlo experiments based on various specifications of the weight matrix show that: (a) the II estimator displays little bias …
Indirect Inference In Spatial Autoregression,
2017
Singapore Management University
Indirect Inference In Spatial Autoregression, Maria Kyriacou, Peter C. B. Phillips, Francesca Rossi
Research Collection School Of Economics
Ordinary least-squares (OLS) is well known to produce an inconsistent estimator of the spatial parameter in pure spatial autoregression (SAR). In this paper, we explore the potential of indirect inference to correct the inconsistency of OLS. Under broad conditions, it is shown that indirect inference (II) based on OLS produces consistent and asymptotically normal estimates in pure SAR regression. The II estimator used here is robust to departures from normal disturbances and is computationally straightforward compared with quasi-maximum likelihood (QML). Monte Carlo experiments based on various specifications of the weight matrix show that: (a) the II estimator displays little bias …
Considerations For Mexican Immigration Policy Reform: How Motivations To Migrate Align With U.S. And Mexican Macroeconomic Conditions,
2017
University of San Diego
Considerations For Mexican Immigration Policy Reform: How Motivations To Migrate Align With U.S. And Mexican Macroeconomic Conditions, Alix Naugler
Undergraduate Honors Theses
The nationalistic rhetoric adopted by the newly-elected president’s administration along with the public’s climaxing anti-immigrant hysteria has recently forced Mexican immigration intervention to the top of the U.S. agenda. Misconceptions regarding Mexicans’ role in stealing jobs, threatening cultural and ethnic traditions, and straining public welfare, educational, and healthcare resources have spurred a fear among the American people. This politically-fabricated “schizophrenia” has ceased the political and economic collaboration between the two nations and has resulted in the unilateral militarization of the U.S.-Mexico border. In this evaluation of the U.S. government’s immigration policies, the proposed economic theories related to Mexicans’ motivations in …
The Effect Of Integration: A Study On The Impact Of Diversity On Economic Indicators,
2017
University of San Diego
The Effect Of Integration: A Study On The Impact Of Diversity On Economic Indicators, Luke H. Schleier
Undergraduate Honors Theses
This paper examines the effect of diversity, measured by the dissimilarity index, on the economic strength of an area. Economic strength is measured using five economic indicators: median home value, median income, median gross rent, percentage of people with health insurance, and firms per capita. The work aims to show that there is a positive economic impact due to integrating and creating communities that are more diverse. Previous work shows there is a positive impact of diversity on economic indicators such as wages, rents, and production but previous studies do not look at the effect on these economic indicators. This …
A Dual-Role Analysis Of Game Form Misconception And Cognitive Bias In Financial And Economic Decision Making,
2017
University of New Orleans
A Dual-Role Analysis Of Game Form Misconception And Cognitive Bias In Financial And Economic Decision Making, Chinedum D. Nwadiora
LSU New Orleans Theses and Dissertations
The endowment and the framing effect are widely examined cognitive biases. The experimental economics literature, using choice data gathered through an elicitation device, commonly finds evidence of these biases. Recent work by Cason & Plott (2014) shows that the interpretation of choice data as consistent with biases related non-standard preference theory could also be consistent with confusion or misconception of the game type used to elucidate preferences. I use the Cason and Plott card auction framework to analyze offers of buyers and sellers in an experimental setting with subjects from the University of New Orleans simulating 97 sellers and 90 …
Do Marketing Strategies Impact Condom Sales In Uganda?,
2017
The University of San Francisco
Do Marketing Strategies Impact Condom Sales In Uganda?, Meyhar Mohammed
Master's Theses
What attracts people to buy condoms? HIV/AIDS remain one of the biggest health dangers of the world, especially in Sub-Saharan Africa. A lot of efforts have been pursued in the past two decades to drastically reduce prevalence of HIV and increase awareness about preventive mechanisms. In order to prevent relapse of success achieved so far, it is important to recognize transformation of consumer behavior due to growth in social networks, education and awareness over time. There are a lot of behavioral triggers captured by social marketing interventions in the field of public health. In an attempt to investigate the role …
The Rise Of The Maquiladoras And Crimes In Mexico,
2017
IDEC
The Rise Of The Maquiladoras And Crimes In Mexico, Christelle K. Bamona
Master's Theses
While it is generally argued that a stronger labor market is negatively associated with crime, there exists a “consensus of doubt” around the relationship between employment and crime. This paper examines the impact of the rise of female labor participation in manufacturing on various types of crimes in Mexico from 1998 to 2012. A fixed effects specification and an instrumental variable approach with regional and time fixed effects are employed to compare the crime rates in municipalities that were heavily exposed to local factory openings to municipalities that did not receive a labor shock of the same magnitude. By introducing …
Income Shocks And The Acceptance Of Intimate Partner Violence In Indonesia,
2017
University of San Francisco
Income Shocks And The Acceptance Of Intimate Partner Violence In Indonesia, Matthew N. Krupoff
Master's Theses
Intimate partner violence (IPV) is a pervasive issue affecting 1 in 3 women worldwide. Despite the negative welfare impacts, it is still seen as acceptable in some parts of the world, even amongst women. This paper examines how elastic these accepting attitudes towards IPV are to changing economic conditions. Specifically, this paper focuses on changes in intra-household resources from negative shocks to male-sourced income. The setting and context takes place in coastal communities in Indonesia, where fishing is a main source ofincome generated primarily by men. This paper uses satellite-derived fishing conditions to measure how women's attitudes towards IPV change …
