Economics Commons^™

Out Of Sight, Out Of Mind: The Value Of Political Connections In Social Networks, Quoc-Anh Do, Bang Dang Nguyen, Yen Teik Lee, Kieu-Trang Nguyen

Research Collection School Of Economics

This paper investigates the impact of social-network connections to politicians on firm value. We focus on the networks of university classmates and alumni among directors of U.S. public firms and congressmen. Using the Regression Discontinuity Design based on close elections from 2000 to 2008, we identify that a director’s connection to an elected congressman causes a Weighted Average Treatment Effect on Cumulative Abnormal Returns of -2.65% surrounding the election date. The effect is robust and consistent through various specifications, parametric and nonparametric, with different outcome measures and social network definitions, and across many subsamples. We find evidence to support the …

Empathy-Based Conservation: An Interdisciplinary Approach To Conservation Policy And Decision-Making, Kaitlyn Delashmutt

Department of Environmental Studies: Undergraduate Student Theses

In the late 20^th century, neuroscientists in Italy discovered a neuron in the brain capable of mentally mimicking the emotions derived from the actions of others (Rizzolatti and Craighero, 2004). It is the process that makes your elbow ache when someone else knocks their elbow on the counter or the uncontrollable smile that creeps up when someone smiles at you. No questions asked, people intuitively sense what others are feeling. The old school of thought was that humans deduced through logic and reason the actions of others and interpreted the emotions through a rational process (Carew et al, 2008). …

Nonparametric Inference Based On Conditional Moment Inequalities, Donald W.K. Andrews, Xiaoxia Shi

Cowles Foundation Discussion Papers

This paper develops methods of inference for nonparametric and semiparametric parameters defined by conditional moment inequalities and/or equalities. The parameters need not be identified. Confidence sets and tests are introduced. The correct uniform asymptotic size of these procedures is established. The false coverage probabilities and power of the CS’s and tests are established for fixed alternatives and some local alternatives. Finite-sample simulation results are given for a nonparametric conditional quantile model with censoring and a nonparametric conditional treatment effect model. The recommended CS/test uses a Cramér-von-Mises-type test statistic and employs a generalized moment selection critical value.

Nonparametric Inference Based On Conditional Moment Inequalities, Donald W.K. Andrews, Xiaoxia Shi

Cowles Foundation Discussion Papers

This paper develops methods of inference for nonparametric and semiparametric parameters defined by conditional moment inequalities and/or equalities. The parameters need not be identified. Confidence sets and tests are introduced. The correct uniform asymptotic size of these procedures is established. The false coverage probabilities and power of the CS’s and tests are established for fixed alternatives and some local alternatives. Finite-sample simulation results are given for a nonparametric conditional quantile model with censoring and a nonparametric conditional treatment effect model. The recommended CS/test uses a Cramér-von-Mises-type test statistic and employs a generalized moment selection critical value.

Interoperability And Infrastructure Sharing Among Financial Services Providers, Akinwunmi O. Akinniyi

Bullion

This paper seek to explore the issues around interoperability and infrastructure sharing among financial services providers. especially in the context of o developing notion with the aim of highlighting on efficient path to successful implementation of the concepts. Following this introduction is on attempt to underscore the importance of shared infrastructure. The section ll identifies some key criteria for determining candidate infrastructure for sharing. Section lll is a consideration of pathways to achieving shared and interoperable infrastructure. Section lV contains suggested recommendations for implementation and conclusions.

Rationale For Financial System Regulation And Supervision: A Global Perspective, Victor Ekpu

Bullion

The paper examines the enormous role of financial institutions, especially banks to the efficient functioning of the economy. The shortcomings of regulation and supervision, notwithstanding, one can argue that because of the special role that financial institutions play in the economy and the economic and social costs to society of their eventual failure, it is obvious that leaving the forces of demand and supply to bear will have adverse implications on the economy and the living standards of the nation's citizens. lt is on this note that i expound on the various reasons for financial system regulation in section 2. …

Understanding The Bretton Woods Institutions (Bwis) With Particular Reference To The International Monetary Fund (Imf), Adeniyi O. Adenuga, Osaretin Evbuomwan

Bullion

The objective of this paper is to examine and discuss the workings of the Bretton Woods institution with particular focus on the international Monetary Fund (lMF). This is to enhance understanding of the expanded role of the lMF. The paper is divided into five parts. First is the introduction, Part ll, explains the IMF's role in the world economy, while Part lll presents relationships between the Fund and its members, highlighting member obligation to the Fund and Fund's obligation to its members. ln Port lV, the expanded roles of the Fund are discussed, while the conclusion is contained in Part …

Integrated Economic And Climate Modeling, William D. Nordhaus

Cowles Foundation Discussion Papers

This survey examines the history and current practice in integrated assessment models (IAMs) of the economics of climate change. It begins with a review of the emerging problem of climate change. The next section provides a brief sketch of the rise of IAMs in the 1970s and beyond. The subsequent section is an extended exposition of one IAM, the DICE/RICE family of models. The purpose of this description is to provide readers an example of how such a model is developed and what the major components are. The final section discusses major important open questions that continue to occupy IAM …

Nonparametric Inference Based On Conditional Moment Inequalities, Donald W.K. Andrews, Xiaoxia Shi

Cowles Foundation Discussion Papers

This paper develops methods of inference for nonparametric and semiparametric parameters defined by conditional moment inequalities and/or equalities. The parameters need not be identified. Confidence sets and tests are introduced. The correct uniform asymptotic size of these procedures is established. The false coverage probabilities and power of the CS’s and tests are established for fixed alternatives and some local alternatives. Finite-sample simulation results are given for a nonparametric conditional quantile model with censoring and a nonparametric conditional treatment effect model. The recommended CS/test uses a Cramér-von-Mises-type test statistic and employs a generalized moment selection critical value.

Broader Questions And A Bigger Toolbox:A Problem-Centered And Student-Centered Approach To Teaching Pluralist Economics, Julie A. Nelson

Economics Faculty Publication Series

This essay discusses a "broader questions and bigger toolbox" approach to teaching pluralist economics. This approach has three central characteristics. First, economics is defined so as to encompass a broad set of (provisioning) concerns. Second, emphasis is placed on contemporary real-world issues, institutions, and current events, rather than on debates in the history of economic thought. Third, a variety of concepts and theories are introduced, all of which are treated as partial and fallible--useful in some (perhaps very limited) situations while not so useful in others. Possible reasons an instructor might want to adopt this approach, and examples of use …

China's Growing Role In World Trade: Trade Growth, Production Fragmentation, And China's Environment, Judith M. Dean, Mary Lovely

Economics - All Scholarship

No abstract provided.

An Analysis Of Managerial Retention Decisions Using Major League Baseball, William Ward

All Theses

Major League Baseball managers are often blamed for the poor performance of a baseball team. In the past two years alone, there have been eight midseason managerial firings and six postseason managerial firings. While this number may seem high, these numbers have actually been consistent with probabilities of managerial retention since 1930, when baseball was still in the early stages of its development as a professional sport. In the following study, I examine the factors that are taken into account during these managerial firing decisions and what conditions are present when changes do take place. Using Major League Baseball managerial …

World Food Crisis: Imperfect Markets Starving Development, A Decomposition Of Recent Food Price Increases, Christine Costello

College of Business: Dissertations, Theses, and Student Research

The recent decade has experienced two rather substantial food price spikes. This thesis sets out to provide an in-depth look at the recent food price increases by achieving two goals: assessing the forces driving food prices, and determining the magnitude of those forces. These goals are reached by reviewing selected rhetoric on the recent food price increases, analyzing case studies, and lastly determining our modeling capabilities in decomposing food price changes. Additionally, this thesis will serve as a tool for stakeholder's to better address critical policy issues surrounding food, agriculture, and energy policies.

Adviser: Hendrik Van Den Berg

The Impact Of Oil Price Surges On Economic Growth, Valeria Restrepo

HIM 1990-2015

The objective of this research concerns identifying whether or not there is a relationship between oil price increases in a given quarter and the likelihood of a recession in the subsequent quarter. The data used is gathered from the St. Louis Fed's Fred II, the National Bureau of Economic Research, and the Energy Information Administration to generate modified variables. These variables are tested using a qualitative dependent variable, recession, in a binary choice model. The findings validated the assumption that oil prices do have a correlation with recessions, and that the relationship is a direct one. Based on the model, …

State Income Tax A Double-Edged Sword, Karla Burgos

HIM 1990-2015

States are facing tough economic times as a result of the housing market bubble exploding. States have been declaring budget deficits and major program cuts, since revenues have not kept up with expenditures and rainy day funds have been practically exhausted. State tax revenues have decreased, resulting from a decline in income tax revenues, one of the major sources of revenues for a large number of states (41 in total). A majority of these states have come to depend heavily on the revenue they collect from income taxes, which can represent as much as 40% of state tax revenue. This …

A Hedonic Analysis Of The Effect Of Expert Wine Ratings On Price And Retailer Profits, Kaitlin D. Neill

HIM 1990-2015

During the last few decades, economists have become interested in the wine industry and several of them have focused on the determinants of price. One characteristic that has been identified as an important determinant is expert wine ratings. Much of the previous research on this topic has focused on relating expert grades to the retail price of wine. Using proprietary data, this paper will test whether these grades influence retail prices as well as retailer profits and wholesale pricing. By analyzing an individual wholesale firm in South Florida and their distribution network, this paper determines the effect expert ratings have …

Diaspora Bonds: A Viable Source Of External Financing For Nigeria?, Omolara O. Duke

Bullion

The paper examines the need for external funding, arises from the inadequacy of domestic sources of funds to meet supply gaps and balance of payments (BOP) challenges and the potentials of Nigeria sourcing external financing through the issuance of Diaspora bonds. Following this introduction, Section ll reviews conceptual and empirical literature as well as country experiences on Diaspora bonds issuance. Section lll, discusses the bond market in Nigeria. ln Section lV. the prospects and challenges of issuing Diaspora bonds in Nigeria were highlighted. Section V concludes the paper.

The Effect Of Global Financial Crisis On The Nigerian Capital Market: Lessons For Monetary Policy, Sunday Ogwuche Ameh

Bullion

The paper assesses the effect of the financial crisis on the Nigerian Capital market, and lessons for monetary policy with a view to providing valuable inputs that can be used to update policy decisions in Nigerian economy as well as examining the historical perspective of the recent global financial crisis.

Examining Revenue Management Practices In Las Vegas Casino Resorts, Arun Tanpanuwat

UNLV Theses, Dissertations, Professional Papers, and Capstones

The overall goal of this study was to examine Revenue Management (RM) practices in Las Vegas casino resorts. A great deal of research has been done on RM in the hospitality industry. The academic research has examined RM in hospitality in general, but not specifically in casino resorts, which gain their revenue from both rooms and resort amenities. Moreover, the academic literature often show high-level mathematic-based solutions or statistical applications, but not necessarily pragmatic techniques for practitioners. This qualitative study investigates the extent to which the essential fundamentals of any RM system are implemented successfully by casino RM professionals and …

Managing Diversity And Inclusion In The Central Bank Of Nigeria: Prospects And Challenges, Job A. Olorunshola

Bullion

This paper discusses key issues in managing diversity and inclusion in the CBN for organizational effectiveness. It is organized into five sections. Section Two, following the introduction, provides some theoretical background while section Three x-rays evidence of diversity and inclusion the CBN. Section Four discusses the key challenges and the way-forward in diversity and inclusion management in the Bonk. The last section concludes the paper.