Mountain Monitor-2nd Quarter 2012,
2012
Brookings Institution
Mountain Monitor-2nd Quarter 2012, Mark Muro, Kenan Fikri
Mountain Monitor Quarterly
Data for the second quarter of 2012 reveal that the large metropolitan areas of the Mountain region were undergoing some of both the strongest and weakest economic recoveries in the nation—even as the pace of recovery across the region as a whole slackened. The result is a new geography. Crash-blasted Boise and Phoenix, along with Utah’s metropolitan areas, are now recovering relatively strongly while Colorado’s metropolitan areas and Albuquerque, Las Vegas, and Tucson struggle.
The State Of Ohio's Steel Industry,
2012
Cleveland State University
The State Of Ohio's Steel Industry, Edward W. Hill, Iryna Lendel, Fran Stewart
All Maxine Goodman Levin School of Urban Affairs Publications
No abstract provided.
Leverage And Default In Binomial Economies: A Complete Characterization,
2012
Yale University
Leverage And Default In Binomial Economies: A Complete Characterization, Ana Fostel, John Geanakoplos
Cowles Foundation Discussion Papers
Our paper provides a complete characterization of leverage and default in binomial economies with financial assets serving as collateral. First, our Binomial No-Default Theorem states that any equilibrium is equivalent (in real allocations and prices) to another equilibrium in which there is no default. Thus actual default is irrelevant, though the potential for default drives the equilibrium and limits borrowing. This result is valid with arbitrary preferences and endowments, arbitrary promises, many assets and consumption goods, production, and multiple periods. We also show that the no-default equilibrium would be selected if there were the slightest cost of using collateral or …
Potential Effects Of The Affordable Care Act On The Award Of Life Care Expenses,
2012
College of the Holy Cross
Potential Effects Of The Affordable Care Act On The Award Of Life Care Expenses, Joshua Congdon-Hohman, Victor Matheson
Economics Department Working Papers
Plaintiffs in personal injury lawsuits are entitled to compensation for future medical expenses. We argue that the “guaranteed issue” and “individual mandate” requirements of the recently passed Affordable Care Act (ACA) will allow victims to address their health needs through the purchase of a simple health insurance plan rather than direct compensation for an itemized list of health care needs. As such, damage awards for health expenditures should be capped at a maximum of $5,950 per year. Furthermore, the role of a life care planner should evolve into determining which life care expenses are covered under covered by the minimum …
Forensic Economics,
2012
Dartmouth College
Forensic Economics, Eric Zitzewitz
Dartmouth Scholarship
A new meta-field of "forensic economics" has begun to emerge, uncovering evidence of hidden behavior in a variety of domains. Examples include teachers cheating on exams, road builders skimping on materials, violations of U.N. sanctions, unnecessary heart surgeries, and racial biases in employment decisions, traffic stops, auto retailing, and even sports judging. In each case, part of the contribution of economic analysis is in uncovering evidence of wrongdoing. Although research questions differ, forensic economic work shares commonalities in approaches and limitations. This article seeks to draw out the common threads, with the hope of stimulating further research across fields. (JEL …
Regional Allocation Of Carbon Dioxide Abatement In China,
2012
Zhejiang Sci-Tech University
Regional Allocation Of Carbon Dioxide Abatement In China, Chu Wei, Jinlan Ni, Limin Du
Economics Faculty Publications
https://doi.org/10.1016/j.chieco.2011.06.002
Does Government Spending Undermine Monetary Policy In Nigeria?,
2012
Central Bank of Nigeria
Does Government Spending Undermine Monetary Policy In Nigeria?, Emmanuel T. Adamgbe, Peter D. Golit, Izuchukwu I. Okafor
Economic and Financial Review
In Nigeria, anecdotal evidence suggest that the fiscal/operations of government, especially disbursements from the Federation Account to the three-tiers of government, had over the years created liquidity challenges requiring aggressive monetary management. Against the background, this paper addresses two questions: (i) Does government spending have significant spill-over effects on inflation in Nigeria? (ii) Does government, spending induce a concomitant response by the CBN? ln addition, unlike the sparse literature in Nigeria on these two issues, which essentially relies on constant parameter model we use of time-varying parameter vector autoregressive (TVP-VAR) model with stochastic volatility. Applying this framework allows us not …
Reforming State Education Aid In New York State,
2012
The Maxwell School, Syracuse University
Reforming State Education Aid In New York State, John Yinger
Center for Policy Research
It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.
On The Estimation And Testing Of Fixed Effects Panel Data Models With Weak Instruments,
2012
Syracuse University
On The Estimation And Testing Of Fixed Effects Panel Data Models With Weak Instruments, Badi Baltagi, Chihwa Kao, Long Liu
Center for Policy Research
This paper studies the asymptotic properties of within groups k-class estimators in a panel data model with weak instruments. Weak instruments are characterized by the coefficients of the instruments in the reduced form equation shrinking to zero at a rate proportional to nTδ ; where n is the dimension of the cross-section and T is the dimension of the time series. Joint limits as (n,T )→∞show that this within group k-class estimator is consistent if 0 ≤δ ≤ ½ and inconsistent if ½ ≤δ ≤ ∞.
Asset Prices, Credit Growth And Monetary Policy In Nigeria,
2012
Central Bank of Nigeria
Asset Prices, Credit Growth And Monetary Policy In Nigeria, Kama Ukpai, Dinchi J. Yilkudi, Hannah Ukeje
Economic and Financial Review
This paper contributes to the debate on the monetary policy transmission mechanism in Nigeria. The paper explores the impact of monetary policy on credit growth, and whether these credit developments are capable of influencing asset prices (stock prices) in the Nigerian economy. Using the VAR model spanning annual data from 1986 to 2012, the impulse response functions revealed that the relationship between asset prices, captured by the All-Share Index, and monetary policy, is not direct, but operates mainly through the response of inflation to key monetary aggregate. A positive shock to money supply growth would raise credit and inflation which …
Transmission Of Exchange Rate Shocks Into Domestic Pries Does It Exist For Nigeria,
2012
Central Bank of Nigeria
Transmission Of Exchange Rate Shocks Into Domestic Pries Does It Exist For Nigeria, Toyin S. Ogunleye, Nkenchor N. Lgue, Adebola A. Aremu
Economic and Financial Review
The study re-examined the transmission of exchange shock into domestic prices in Nigeria. The non-recursive Structural VAR methodology was employed to examine long-run pass-through of exchange rate to domestic inflation. It found from the result of the lRFs that exchange rate pass-through to domestic prices in Nigeria do exist; and is incomplete. The results further shows that the response of core inflation to shocks in nominal exchange rate was more pronounced and persistent over time than the headline inflation. Using FEVD, the study found that exchange rate and supply constraints are key drivers of domestic prices in Nigeria. The study …
Does China Still Have A Labor Cost Advantage?,
2012
Swarthmore College
Does China Still Have A Labor Cost Advantage?, J. Ceglowski, Stephen S. Golub
Economics Faculty Works
In recent years wages in China have been rising and the yuan has appreciated, potentially eroding China’s cost advantage in manufactures. This paper explores the evolution of China’s relative unit labor costs in manufacturing over 1998-2009. Between 1998 and 2003 China’s unit labor costs fell, but since 2003 they have increased both absolutely and relative to US unit labor costs. Much of the rise in China’s relative unit labor costs can be traced to a real appreciation of the yuan against the dollar. Despite the recent rise, China’s unit labor costs remain low relative to those in most other countries.
Ceos Off The Clock,
2012
University of Richmond
Ceos Off The Clock, Kevin F. Hallock
Economics Faculty Publications
There is new and interesting academic work on how executives spend their time and the personal choices they make to maximize utility. From a compensation point of view, one issue that has been at the forefront with respect to executives is perks. One CEO compensation perk that has also received increased scrutiny but is surviving better than club memberships is the use of private aircraft. In a related April 2012 paper, "Executives' 'Off-The-Job' Behavior, Corporate Culture and Financial Reporting Risk" (National Bureau of Economic Research working paper), Robert Davidson, Abbie Smith and Aiyesha Dey consider other off-the-clock behaviors of CEOs …
Technology Growth And Expenditure Growth In Health Care,
2012
Harvard University
Technology Growth And Expenditure Growth In Health Care, Amitabh Chandra, Jonathan Skinner
Dartmouth Scholarship
In the United States, health care technology has contributed to rising survival rates, yet health care spending relative to GDP has also grown more rapidly than in any other country. We develop a model of patient demand and supplier behavior to explain these parallel trends in technology growth and cost growth. We show that health care productivity depends on the heterogeneity of treatment effects across patients, the shape of the health production function, and the cost structure of procedures such as MRIs with high fixed costs and low marginal costs. The model implies a typology of medical technology productivity: (I) …
Demographic Impacts On Environmentally Friendly Purchase Behaviors,
2012
Missouri University of Science and Technology
Demographic Impacts On Environmentally Friendly Purchase Behaviors, Caroline Fisher, Shristy Bashyal, Bonnie Bachman
Business and Information Technology Faculty Research & Creative Works
Researchers have continued to study green consumer demographics with mixed results. The relevant literature since 1998 (the last review) was summarized to determine what demographics seemed to impact environmental purchasing. The greatest consistency was found for gender with women more likely to exhibit green behaviors. This research article analyzed survey responses to determine the environmentally friendly behaviors of consumers and their relationships to demographics. Several demographics were found to be related to a number of specific environmentally friendly behaviors, more than in prior research. The authors concluded that using specific behaviors, in contrast to general statements or attitudes, may be …
Endogenous Leverage In A Binomial Economy: The Irrelevance Of Actual Default,
2012
Yale University
Endogenous Leverage In A Binomial Economy: The Irrelevance Of Actual Default, Ana Fostel, John Geanakoplos
Cowles Foundation Discussion Papers
We show that binomial economies with financial assets are an informative and tractable model to study endogenous leverage and collateral equilibrium: endogenous leverage can be highly volatile, but it is always easy to compute. The possibility of default can have a dramatic effect on equilibrium, if collateral is scarce, yet we prove the No-Default Theorem asserting that, without loss of generality, there is no default in equilibrium. Thus potential default has a dramatic effect on equilibrium, but actual default does not. This result is valid with arbitrary preferences, contingent promises, many assets and consumption goods, production, and multiple periods. On …
The Impact Of Workers' Remittances On Macro Indicators:The Case Of The Gulf Cooperation Council,
2012
Biz4cast.com
The Impact Of Workers' Remittances On Macro Indicators:The Case Of The Gulf Cooperation Council, Majid Taghavi
Topics in Middle Eastern and North African Economies
No abstract provided.
Child Labor Supply In Palestine: Trends And Perspectives,
2012
The University of Southern Mississippi
Child Labor Supply In Palestine: Trends And Perspectives, Issam Abu-Ghallous
Topics in Middle Eastern and North African Economies
No abstract provided.
Islamic Finance And Global Financial Crises: How To Keep Finance On Track?,
2012
Arab Academy for Science and Technology and Maritime Transport
Islamic Finance And Global Financial Crises: How To Keep Finance On Track?, Ayman Zerban, Eslam H. Elkady, Rafik F. Omar
Topics in Middle Eastern and North African Economies
No abstract provided.
The Impact Of Climate Change On Coastal Tourism In Mena Countries.,
2012
IPAG Lab and University of Nice Sophia-Antipolis
The Impact Of Climate Change On Coastal Tourism In Mena Countries., Alain Safa, Nathalie Hilmi
Topics in Middle Eastern and North African Economies
No abstract provided.
