Rhode Island Current Conditions Index -- February 2015,
2015
University of Rhode Island
Rhode Island Current Conditions Index -- February 2015, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Nonparametric Testing For Anomaly Effects In Empirical Asset Pricing Models,
2015
Singapore Management University
Nonparametric Testing For Anomaly Effects In Empirical Asset Pricing Models, Sainan Jin, Liangjun Su, Yonghui Zhang
Research Collection School Of Economics
In this paper, we propose a class of nonparametric tests for anomaly effects in empirical asset pricing models in the framework of nonparametric panel data models with interactive fixed effects. Our approach has two prominent features: one is the adoption of nonparametric functional form to capture the anomaly effects of some asset-specific characteristics and the other is the flexible treatment of both observed/constructed and unobserved common factors. By estimating the unknown factors, betas, and nonparametric function simultaneously, our setup is robust to misspecification of functional form and common factors and avoids the well-known "error-in-variable" problem associated with the commonly used …
Sieve Instrumental Variable Quantile Regression Estimation Of Functional Coefficient Models,
2015
Singapore Management University
Sieve Instrumental Variable Quantile Regression Estimation Of Functional Coefficient Models, Liangjun Su, Tadao Hoshina
Research Collection School Of Economics
In this paper, we consider sieve instrumental variable quantile regression (IVQR) estimation of functional coefficient models where the coefficients of endogenous regressors are unknown functions of some exogenous covariates. We approximate the unknown functional coefficients by some basis functions and estimate them by the IVQR technique. We establish the uniform consistency and asymptotic normality of the estimators of the functional coefficients. Based on the sieve estimates, we propose a nonparametric specification test for the constancy of the functional coefficients, study its asymptotic properties under the null hypothesis, a sequence of local alternatives and global alternatives, and propose a wild-bootstrap procedure …
Shrinkage Estimation Of Dynamic Panel Data Models With Interactive Fixed Effects,
2015
Hong Kong University of Science and Technology
Shrinkage Estimation Of Dynamic Panel Data Models With Interactive Fixed Effects, Xun Lu, Liangjun Su
Research Collection School Of Economics
We consider the problem of determining the number of factors and selecting the proper regressors in linear dynamic panel data models with interactive fixed effects. Based on the preliminary estimates of the slope parameters and factors a la Bai and Ng (2009) and Moon and Weidner (2014a), we propose a method for simultaneous selection of regressors and factors and estimation through the method of adaptive group Lasso (least absolute shrinkage and selection operator). We show that with probability approaching one, our method can correctly select all relevant regressors and factors and shrink the coefficients of irrelevant regressors and redundant factors …
The True Limit Distributions Of The Anderson-Hsiao Iv Estimators In Panel Autoregression,
2015
Singapore Management University
The True Limit Distributions Of The Anderson-Hsiao Iv Estimators In Panel Autoregression, Peter C. B. Phillips, Chirok Han
Research Collection School Of Economics
This note derives the correct limit distributions of the Anderson-Hsiao (1981) levels and differences instrumental variable estimators, provides comparisons showing that the levels IV estimator has uniformly smaller variance asymptotically as the cross section (n) and time series (T) sample sizes tend to infinity, and compares these results with those of the first difference least squares (FDLS) estimator. (C) 2014 Elsevier B.V. All rights reserved.
Hdi In Transition Countries: A Panel Data Analysis,
2015
Bryant University
Hdi In Transition Countries: A Panel Data Analysis, Narine Hagopian
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the factors that have the ability to affect development in transition countries. The study incorporates the human development index to examine the influence of outside variables to human development within transition countries. The study looks at a variety of contributing factors such as the Gini coefficient, federal direct investment levels, world governance contributors, health expenditure per capita, personal remittance levels among a few other contributors. Focusing on transition countries, which evolved after the breakup of the Soviet Union, this study aims to understand human development in twelve of the fourteen former Soviet Republics. Using data from the …
Evaluation Of Company Performance Post Acquisition Or Merger In The United States,
2015
Bryant University
Evaluation Of Company Performance Post Acquisition Or Merger In The United States, Harry Waterton
Empirical Economic Bulletin, An Undergraduate Journal
This paper answers the question surrounding whether or not company performance for the acquiring company improves or worsens post-merger or acquisition. This will be calculated using two separate but related financial performance tools, return on equity and return on assets. The investigation will span over a 5 year period starting the year of 2010 and end at the closing of the fourth quarter of 2014, and will contain all mergers and acquisitions between $300 million and $2 billion that took place across all sectors in America. The results conclude that acquisitions do not financially benefit the acquirer in the short …
Inequality, Poverty And Economic Growth In Different Income Classifications,
2015
Bryant University
Inequality, Poverty And Economic Growth In Different Income Classifications, Alexandra Zhang
Empirical Economic Bulletin, An Undergraduate Journal
This paper defines the relationship between inequality and economic development, analyzes the impact of economic growth on income inequality and poverty rate. The study uses different indicators and panel data over 10 years and across 46 countries worldwide. As the Kuznets Curve suggested, a country’s inequality level and economic development share a non-linear relationship. The author applies this concept to 3 different models and found different results between low and middle-income countries and high-income countries. In result, this study confirms the Kuznets law as the author finds an unequal income distribution in low and middle-income countries.
Rhode Island Current Conditions Index -- January 2015,
2015
University of Rhode Island
Rhode Island Current Conditions Index -- January 2015, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
How Do Incremental Wage Increases Affect Low-Wage Workers’ Health Levels?,
2015
Macalester College
How Do Incremental Wage Increases Affect Low-Wage Workers’ Health Levels?, Cory Stern
Award Winning Economics Papers
This paper estimates the demand for health among low-wage American workers. I incorporate theoretical assumptions and empirical findings from the fields of food and health economics to derive a utility-maximization framework, which posits health is a normal good. Using data from the Panel Study on Income Dynamics, I then regress an ordered probit random effects model to isolate the effect of income fluctuations on health over time. These results are statistically significant and robust to numerous specification checks, suggesting low-wage workers experience improved health levels as their wages increase. These findings deserve further inquiry to better-inform the current public debate …
Terror Attacks And Bond Yields In The European Union: An Autogressive Transfer Function Approach,
2015
Macalester College
Terror Attacks And Bond Yields In The European Union: An Autogressive Transfer Function Approach, Benjamin Goldman
Award Winning Economics Papers
This article seeks a connection between the rate at which governments can borrow money and terrorist activity within their country. Government borrowing habits can play a large role in economic growth, and understanding the determinants of the rate at which money can be borrowed is valuable. The traditional bond yield study includes various macroeconomic indicators and estimates the role that they play in the borrow- ing rate. A straightforward theory to connect utility theory of consumer choice to risk preferences and the decision to invest in a bond is derived. Using data from the Inter- national Monetary Fund and University …
The Role Of Fdi, Oda, Remittances, And Institutions On Economic Development In Developing Countries,
2015
Bryant University
The Role Of Fdi, Oda, Remittances, And Institutions On Economic Development In Developing Countries, William Manak
Empirical Economic Bulletin, An Undergraduate Journal
This paper seeks to evaluate the effects of foreign direct investment (FDI), official development assistance (ODA), and migrant remittances to economic growth in developing countries, while also taking into account the qualities of the institutions of the countries. This study uses the linear system Generalized Method of Moments (GMM) method as developed by Blundell and Bond (1998). Current research has been focused on adding institutions to growth models to understand how institutional quality can help improve outcomes in developing countries. This paper plans to further the discussion on how institutional quality affects FDI, ODA, and remittances. Institutional quality is measured …
An Analysis Of The Sales Cycle: A Case Of A Cloud-Computing Us Mnc,
2015
Bryant University
An Analysis Of The Sales Cycle: A Case Of A Cloud-Computing Us Mnc, Matthew Walsh
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates sales techniques used during the sales cycle at a leading global provider of mobile workforce solutions for service-based business of all sizes. At the multi-national corporation, a publicly traded company, business solutions are delivered as software-as-a-service (SaaS). This study focuses on “Enterprise” customers, fleets of over 100 vehicles, and examines how leads are converted to opportunities and opportunities to sales. Characteristics of the customer, such as, aforementioned fleet size, SIC code, number of employees, region, and annual revenue are examined in an effort to tailor the marketing process when targeting large customers. Additionally, the study looks at …
Financial Deepening On Economic Growth And Productivity In Sub-Saharan Africa,
2015
Bryant University
Financial Deepening On Economic Growth And Productivity In Sub-Saharan Africa, Yaawa Jallow
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates impact of financial deepening on economic growth and productivity in sub-Saharan Africa. The study uses variables from various studies that are said to most likely impact economic growth and productivity in a country. This study uses a Panel Data analysis to examine the impact of these variables especially financial deepening on both economic growth and productivity. The fixed effect and random effect model both suggest that overall financial deepening has a positive impact on economic growth in sub-Saharan Africa. The study also suggest that financial deepening has a positive effect on productivity in sub-Saharan Africa.
Determinants Of Fdi And Economic Integration In Sub-Saharan Africa,
2015
Bryant University
Determinants Of Fdi And Economic Integration In Sub-Saharan Africa, Lachlan Davis
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the effects of economic integration, FDI and increased trade liberalization in Sub-Saharan Africa. Sub-Saharan Africa is a region notorious for low human development indexes, slow economic grown and high levels of corruption. Ever since the inception of western aid and corporate interests, the region has no developed at we should expect. This paper will look to find the effects of increased “globalization” in the region and attempt to suggest reasons for the developmental challenges rampant in this region of the world. I expect to find that even though development has increased in some areas (for variables such …
The Impact Of Innovation And Technology On The Economic Growth In Oecd Countries,
2015
Bryant University
The Impact Of Innovation And Technology On The Economic Growth In Oecd Countries, Boqian Yin
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates the impacts of innovation and technology on the economic growth in the OECD countries. This study is based on the economic growth model from the previous research study from the innovation – economic growth nexus: Global evidence (L. Hasan, et al.). We tried to adjust the original model by substituting a fee variables and focusing only in the OECD nations. In addition, we expect the results to show a positive between the evolution of innovation and technology on economic development in the 34 OECD countries from time period of 1991 to 2012. Moreover, we want to analyze …
The Effects Of Oil Shocks On Total Government Expenditure: A Var Approach,
2015
Bryant University
The Effects Of Oil Shocks On Total Government Expenditure: A Var Approach, Thomas Mullally
Empirical Economic Bulletin, An Undergraduate Journal
This paper aims to examine the relationship between oil price and oil revenue shocks and government expenditures in Venezuela. In order to analyze the relationship between these variables, this study uses a VAR approach. This study aims to find a positive relationship between oil revenues and government expenditures, which will show how countries adjust their public sector spending activities in order to account for changes in demand for oil.
Monetary Policy Rules In Zero Nominal Interest Rate Environments: Exiting The Zero Bound,
2015
Bryant University
Monetary Policy Rules In Zero Nominal Interest Rate Environments: Exiting The Zero Bound, Sean Lambert
Empirical Economic Bulletin, An Undergraduate Journal
The zero bound of nominal interest is known as a liquidity trap, where expansions in the monetary base no longer are effective in lowering the nominal interest rate. This takes away the main tool of traditional monetary policy, and eliminates the ability of monetary policy to stabilize economic conditions. It has been noted that monetary policy rules, such as the Taylor Rule, fail in this situation. The Federal Reserve of the United States solved this problem by massively increasing the monetary base even after the zero bound was reached. Yet another problem loomed even as the economy began to stabilize: …
Corporate Tax Rates: Causes For Tax Rate Discrepancies At The Firm Level,
2015
Bryant University
Corporate Tax Rates: Causes For Tax Rate Discrepancies At The Firm Level, Matthew G. Zanotta
Empirical Economic Bulletin, An Undergraduate Journal
This paper examines the relationship between a corporation’s tax rate and a number of different variables. The variables chosen were assets, sales, property, plant, and equipment (PPE), inventory, research and development (R&D), and return on assets (ROA). The model incorporates each of these variables to find a correlation to corporate tax rates. These specific variables were chosen to represent firm size (assets at book value), financial leverage, capital structure (PPE to assets), and inventory investment (inventory to assets). The other two variables, R&D (R&D to net sales), and profitability (ROA) were chosen because of their direct value. The results from …
Educational Attainment And The Impact Of Financial Crisis On European Youth Unemployment,
2015
Bryant University
Educational Attainment And The Impact Of Financial Crisis On European Youth Unemployment, Matthew Mcintyre
Empirical Economic Bulletin, An Undergraduate Journal
This paper investigates some of the underlying causes of the drastic increase of youth unemployment from before the 2008 financial crisis to after the crisis. The purpose of the study is to discover what determinants had the largest impact on youth unemployment before and after the crisis. The study also attempts to differentiate between youth unemployment on a primary, secondary, and tertiary level of education, and establish the extent that each group is at risk for unemployment. It is expected that the financial crisis will have a positive and significant impact on unemployment for those with lower education levels, while …
