Economics Commons^™

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 …

A Strategic Model For Ingo Accountability Systems, Sarah Elizabeth Wardwell

Dissertations and Theses

This thesis reconstructs the concept of International Non-Governmental Organization (INGO) accountability to beneficiaries through the development of a strategic model for INGO accountability to beneficiaries. It works through the history and arguments surrounding the rise of the debate around whether INGOs should be held accountable to their beneficiary populations. Unique definitions are developed for the terms and concepts related to this topic and a framework for understanding the strategic model for INGO accountability to beneficiaries is outlined: Accountable to whom? Accountable for what? Accountable how? A practical example of an internal assessment for measuring an INGO's accountability to beneficiaries is …

A Systems Approach To Ecological Economic Models Developed Progressively In Three Interwoven Articles, Takuro Uehara

Dissertations and Theses

My dissertation develops and analyzes ecological economic models to study the complex dynamics of an ecological economic system (EES) and investigate various conditions and measures which can sustain a developing economy over the long term in view of resilience and sustainability. Because of the intrinsic complexity of the system, I take a systems approach, using economics as the foundation for the basic structure of an ecological economic model, and system dynamics as the method to build and analyze such a complex ecological economic model. Throughout my dissertation, the model developed by Brander and Taylor (1998) is adopted as a baseline …

Do International Corruption Metrics Matter? Assessing The Impact Of Transparency International's Corruption Perceptions Index, Omar Elemere Hawthorne

Graduate Program in International Studies Theses & Dissertations

This dissertation examines the impact of Transparency International's (TI), Corruption Perceptions Index (CPI) and whether or not the CPI and hence TI matter. It examines the impact of TI's CPI on policymakers. It explores three areas: world's political and economic responses and Jamaica's policy responses to the CPI. Jamaica is selected for a case study due to TI's high corruption perceptions index rating for the country: a country that legally has strong anti-corruption laws but, nonetheless, sees its CPI ranking worsen almost yearly.

This study comprises mixed methodologies, using both qualitative and quantitative measures to assess the impact of the …

Single Peakedness And Giffen Demand, Massimiliano Landi

Research Collection School Of Economics

I provide a simple example of a single peaked utility function that generates a Giffen demand. The utility function is smooth, non piecewise defined, strictly concave but not globally increasing. A full characterization of the parameter conditions under which the Giffen demand arises is provided. In addition the properties of the demand function are studied: I find that the inferior commodity with a Giffen demand must be cheaper relatively to a substitute and that Giffen demand arises at relatively low levels of income. However it is not required that the share of income spent on that commodity be large.

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 …

One Mandarin Benefits The Whole Clan: Hometown Infrastructure And Nepotism In An Autocracy, Kieu-Trang Nguyen, Quoc-Anh Do, Anh Tran

Research Collection School Of Economics

Duplicate record, see https://ink.library.smu.edu.sg/soe_research/1383. This paper studies nepotism by government officials in an authoritarian regime. We collect a unique dataset of political promotions of officials in Vietnam and estimate their impact on public infrastructure in their hometowns. We find strong positive effects on several outcomes, some with lags, including roads to villages, marketplaces, clean water access, preschools, irrigation, and local radio broadcasters, as well as the hometown’s propensity to benefit from the State’s “poor commune support program”. Nepotism is not limited to only top-level officials, pervasive even among those without direct authority over hometown budgets, stronger when the hometown chairperson’s …

A Spatial Analysis Of The Italian Second Republic, Second Version, Massimiliano Landi, Ricardo Pelizzo

Research Collection School Of Economics

We apply the Optimal Classification method to a newly created dataset to provide a spatial map of the Italian Second Republic (1996-2008). We find a bi-dimensional political space in the XIII Legislature and virtually a one dimensional political space in the XIV and XV Legislatures. In addition, the main dimension is explained along the dimension government opposition rather than on the traditional left and right dimension. During the Second Republic, Italy experienced changes in electoral system and in the format of the parties. We use our data to discuss the implications of either change on the dimensionality space. We find …

Quasi-Option Value Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa

Research Collection School Of Economics

We consider a simple two-period model of irreversible investment under strategic interactions between two players. In this setup, we show that the quasi-option value may cause some conceptual difficulties. In case of asymmetric information, decentralized investment decisions fail to induce first-best allocations. Therefore a regulator may not be able to exercise the option to delay the decision to develop. We also show that information-induced inefficiency may arise in a game situation and that under certain assumptions inefficiency can be eliminated by sending asymmetric information to the players, even when the regulator faces informational constraints. Our model is potentially applicable to …

One Mandarin Benefits The Whole Clan: Hometown Infrastructure And Nepotism In An Autocracy, Kieu-Trang Nguyen, Quoc-Anh Do, Anh Tran

Research Collection School Of Economics

This paper studies nepotism by government officials in an authoritarian regime. We collect a unique dataset of political promotions of officials in Vietnam and estimate their impact on public infrastructure in their hometowns. We find strong positive effects on several outcomes, some with lags, including roads to villages, marketplaces, clean water access, preschools, irrigation, and local radio broadcasters, as well as the hometown’s propensity to benefit from the State’s “poor commune support program”. Nepotism is not limited to only top-level officials, pervasive even among those without direct authority over hometown budgets, stronger when the hometown chairperson’s and promoted official’s ages …

Public Housing: Appreciating Assets?, Sock Yong Phang

Research Collection School Of Economics

The topic of HDB housing is one that is close to the hearts and minds of the majority of Singaporeans. The first part of the presentation will provide a brief overview of price trends in Singapore’s housing sector. The second part delves into the market and policy factors behind the rapid increase in HDB housing prices since 2006. The monograph “Reflections on Housing a Nation” published by the Ministry of National Development in February 2011, contains numerous statements on the goals of housing policy. Briefly, the government is committed to affordable home ownership as a major pillar of Singapore’s public …

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 …

An Economic Perspective On Preemption, Keith N. Hylton

Faculty Scholarship

This Essay has two goals. The first is to present an economic theory of preemption as a choice among regulatory regimes. The optimal regime choice model is used to generate specific implications for the court decisions on preemption of products liability claims. The second objective is to extrapolate from the regime choice model to consider its implications for broader controversies about preemption.

Essays On Social Networks, Emre Unlu

LSU Doctoral Dissertations

The first chapter provides a way of evaluating a player's contribution to their team and relates their effort to their market values. We extend the work of Ballester et al. (2006) by incorporating a network outcome component in the players' payoff functions. As an illustration of the theory, we create a unique data set from the UEFA Euro 2008 tournament. To capture the interaction between players, we create the passing network of each team. This all allows us to identify the key player and key groups of players for both teams in each game. We then use our measure to …

Investigating The Role Of Genetic Variation In Long Run Economic Outcomes, Charles Justin Cook

LSU Doctoral Dissertations

This dissertation empirically tests whether adaptations resulting from the Neolithic Revolution, or the widespread adoption of sedentary agriculture for sustenance, have led to economic differences. The development of sedentary agriculture constituted an environmen- tal shift from the previous sustenance method of hunting and gathering. This environmental shift resulted in the natural selection of certain traits. I seek to exploit differences in these traits to measure differing economic outcomes. Two main adaptations are considered in this work: the ability to consume milk, or lactose tolerance, and resistance to infectious Eurasian diseases, which is the result of genetic variation. The first essay …

Regional Effects Of Monetary Policy, Taehee Han

LSU Doctoral Dissertations

A key element of this dissertation is the examination of the regional and state level effects of monetary policy. The first essay compares two broad approaches to identifying the monetary policy shocks that are used to estimate the regional effects of monetary policy. One approach that has been used in the previous literature assumes that monetary policymakers respond to shocks to regional personal income but do not respond directly to shocks to national income. A second general approach assumes that monetary policymakers respond to shocks to national income but do not respond directly to region-specific income shocks. This assumption is …

Assessing Cost Efficiency And Economies Of Scale In The European Banking System, A Bayesian Stochastic Frontier Approach, Ana Maria Ichim

LSU Doctoral Dissertations

Cost e_x000E_fficiency of banks is a key indicator that provides valuable insight to researchers and policymakers about the functioning of the _x000C_financial intermediation process, as well as, the overall performance of the entire financial system. This thesis focuses on the cost effi_x000E_ciency of the European banking market for which we identify fourteen nation-specific frontiers and also perform cross country comparisons under a common frontier assumption. Our interest in the subject is twofold. At the nation level, cost e_x000E_fficiency influences the relative competitiveness of banks, setting the profile of the national banking industry with direct implications on economic growth. At the …

Whose Budget? Our Budget? Broadening Political Stakeholdership Via Participatory Budgeting, Celina Su

Publications and Research

In this thought piece, I attempt to contextualize New York City’s inaugural participatory budgeting (PB) process in the larger landscape of American political participation. I discuss how the bottom-up way in which stakeholders wrote the process’s rules in the first place, alongside the core role played by the two lead organizations, helped to broaden notions of stakeholdership among constituents. Ultimately, the first year’s primary achievement regarding political participation was not a specific set of outcomes, but a debut as an unfinished form of governance—one that began to engage traditionally marginalized constituents, to trigger their political imagination, and to prompt them …

Advancing The Human Right To Housing In Post-Katrina New Orleans: Discursive Opportunity Structures In Housing And Community Development, Leigh Graham

Publications and Research

In post-Katrina New Orleans, housing and community development (HCD) advocates clashed over the future of public housing. This case study examines the evolution of and limits to a human right to housing frame introduced by one nongovernmental organization (NGO). Ferree’s concept of the discursive opportunity structure and Bourdieu’s social field ground this NGO’s failure to advance a radical economic human rights frame, given its choice of a political inside strategy that opened up for HCD NGOs after Hurricane Katrina. Strategic and ideological differences within the field limited the efficacy of this rights-based frame, which was seen as politically radical and …

Razing Lafitte: Defending Public Housing From A Hostile State, Leigh Graham

Publications and Research

The contentious politics of the demolition of Lafitte public housing in post- Katrina New Orleans and its replacement with mixed-income properties is a telling case of the strategic conflicts housing advocates face in public housing revitalization. It reveals how the qualified outcomes of HOPE VI interact with local institutional and historical circumstances to confound the equity and social justice goals of housing and community development advocates. It shows the limits to public housing revitalization as an urban recovery strategy when hostile government leadership characterizes a region, and the state is recast as an adversary rather than revitalization partner. This case …