Economics Commons^™

Strategic Competition Over School Inputs And Outputs, Gary Richard Cohen

Honors Papers

Although public schools are not generally subject to direct competition for students, it is commonly thought that they nonetheless face competition through parents' residential choice. Such competitive effects are likely to depend on the relative proximity of school districts if it is less costly to move short distances than long, or if parents are able to more easily send their children to nearby districts through open enrollment policies. Using panel data for 607 Ohio school districts from 1998 to 2007, I test for strategic interaction over teacher salaries and standardized test scores. I present evidence that Ohio public school districts …

Heterogeneous Gain Forecasting Using Historic Asset Information, Nicolas Sippl-Swezey

Honors Papers

Using historic return inputs in a stylized computational financial market, this paper explores how participant outcomes are affected by the degree to which their asset allocation behavior responds to new market information. Findings support the efficient market hypothesis in that no alternate trading rule shows consistent improved outcomes relative to a full market exposure buy-and-hold strategy over the given time period. The only exception occurs briefly at the bottom of the 2008 financial crisis. Market participants that drastically alter market exposure in response to volatile returns, however, do outperform those who alter their exposure less drastically. Furthermore, the trading rules …

Godley Conference Paper, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Godley conference paper (file folder). Anwar Shaikh, PhD, manuscript in progress, 2011.
• Economic policy in a growth context. Anwar Shaikh, Macroeconomics and Growth, 2008, Palgrave Macmillan.
• Notes on New Cambridge and Ruggles (unpublished manuscript). Anwar Shaikh, PhD, May 01, 2011.
• Effect of depletion rates on KGC and KNC estimates (data analysis commentary). Anwar Shaikh, PhD, February 22, 2011.
• I have spent many a happy hour here at the Levy (handwritten notes). Anwar Shaikh, PhD, 2011.
• On Godley & KK (handwritten notes). Anwar Shaikh, PhD, 2011.
• The role of the savings rate in Godley's macroeconomics (manuscript outline). …

Reflexivity, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Reflexivity (file folder). Anwar Shaikh, PhD, manuscript in progress, 2011.
• General point (handwritten notes). Anwar Shaikh, PhD, November 2011.
• End of my talk (handwritten presentation outline). Anwar Shaikh, PhD, November 2011.
• Reflexivity and the theory and practice of social change (unpublished workshop paper). George Soros, November 03, 2011.
• Reflexivity, path dependence, and disequilibrium dynamics. Anwar Shaikh, Journal of Post Keynesian Economics, 2010, M.E. Sharpe, Inc.
• Mark 2: Still stable (handwritten notes). Anwar Shaikh, PhD, March 28, 2010.
• The crisis & what to do about it (web article). George Soros, November 06, 2008.
• Unrepentant (letter to the …

Vmi, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Amr notes by Anwar Shaikh
• New VMI talk by Anwar Shaikh
• Why 80%? Structure of VMI paper by Anwar Shaikh
• Inequality notes by Anwar Shaikh
• An international comparison of the incomes of the vast majority by Anwar Shaikh and Amr Ragab
• Income distribution notation VMI paper by Anwar Shaikh
• Correspondence regarding submission of revised manuscript ID CJE-2009-175 by Anwar Shaikh and Amr Ragab
• Email correspondence regarding question on Sen's welfare function by Anwar Shaikh
• UN talk notes by Anwar Shaikh
• VMI: Vast majority income presentation by Anwar Shaikh
• Notes on the effect of repeated income values on …

Chapter 11, Competition And Finance Revisions, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. Chapter 11 competition and finance revisions outline (Unpublished manuscript).
• Shaikh, A. (2012). Handwritten notes on interest rates and profit rate equalization equations (Unpublished manuscript).
• Parchure, R. A reconstruction of interest rate theory (Unpublished manuscript).

Budapest Conference Nov 2011, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Central European University. (2011, November 1). Agenda for the reflexivity and social change workshop [Agenda]. Budapest, Hungary: Central European University.

• Gover, S. (2011, October 24). Agenda and pre-reading papers for the reflexivity and social change workshop [Email to workshop participants]. Unpublished correspondence.

• Shaikh, A. (2011, November). Notes on David Tuckett’s presentation: Interviews with investment managers, emotional systems, and uncertainty [Handwritten notes]. Unpublished manuscript notes.

• Shaikh, A. (2011, November). Victor: Social change, conflict, technology as institutions, and democracies [Handwritten notes]. Unpublished manuscript notes.

• Shaikh, A. (2011, November). Dialectical feedback: Expectations, finance variables, and opposition to standard economics [Handwritten …

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Competition Blue, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Roncaglia, A. (2006). Paolo Sylos Labini (1920-2005): A tribute. EAEPE Newsletter, (35).
• Shaikh, A. (2011). Appendix 7.1.xlsx. Unpublished manuscript.
• Dhawan, R. (2001). Firm size and productivity differential: Theory and evidence from a panel of US firms. Journal of Economic Behavior & Organization, 44(3).
• Shaikh, A. (2011). Marx's example of a hand printing press vs. a lithograph. Unpublished manuscript.
• Shaikh, A. (2011). The writing of the Grundrisse. Unpublished manuscript.

Introduction To Special Issue: Globalisation And Economic Integration In East Asia, Paul De Grauwe, Zhaoyong Zhang

Research outputs 2011

Globalisation or regionalisation is arguably the most popular concept used to describe the rapid growth of intra-regional trade and capital flows as well as the political and social linkages associated with increasing economic integration in the East Asian region. However, it might be a surprise to note that regionalisation is relatively a recent event in East Asia. In comparison with the European experience, regional integration in East Asia has occurred in the absence of a formal institutional framework, and is market-driven in nature. Policies such as preferential trading arrangements have traditionally not played much of a role in the integration …

Bank Risk: Does Size Matter?, David Allen, Akhmad R. Kramadibrata, Robert Powell, Abhay K. Singh

Research outputs 2011

The size of banks is examined as a determinant of bank risk. A wide range of banks are examined across four regions, including Australia, Canada, Europe and the USA. Four risk metrics are considered including Value at Risk (VaR), Conditional Value at Risk (CVaR, which measures risk beyond VaR), Probability of Default (PD) using Merton structural methodology, and Conditional Probability of Default (CPD, the author’s own model which measures risk based on extreme asset value fluctuations. Daily equity and asset value fluctuations are included in the analysis, including pre-GFC and GFC periods. In addition to examining size in isolation as …

Xtreme Credit Risk Models: Implications For Bank Capital Buffers, David E. Allen, Akhmad R. Kramadibrata, Robert J. Powell, Abhay K. Singh

Research outputs 2011

The Global Financial Crisis (GFC) highlighted the importance of measuring and understanding extreme credit risk. This paper applies Conditional Value at Risk (CVaR) techniques, traditionally used in the insurance industry to measure risk beyond a predetermined threshold, to four credit models. For each of the models we use both Historical and Monte Carlo Simulation methodology to create CVaR measurements. The four extreme models are derived from modifications to the Merton structural model (which we term Xtreme-S), the CreditMetrics Transition model (Xtreme-T), Quantile regression (Xtreme-Q), and the author’s own unique iTransition model (Xtreme-i) which incorporates industry factors into transition matrices. For …

Are Estimates Of The Value Of A Statistical Life Exaggerated?, Chris Doucouliagos, T D Stanley, Margaret J. Giles

Research outputs 2011

The magnitude of the value of astatisticallife (VSL) is critical to the evaluation of many health and safety initiatives. To date, the large and rigorous VSL research literature has not explicitly accommodated publication selectivity bias (i.e., the reduced probability that insignificant or negative VSL values are reported). This study demonstrates that doing so is essential. For studies that employ hedonic wage equations to estimate VSL, correction for selection bias reduces the average value of astatisticallife by 70–80%. Our meta-regression analysis also identifies several sources for the wide heterogeneity found among reported VSL estimates.

Mobile Goes Global: The Effect Of Cell Phones On Economic Growth And Development, Tracy Lum

Honors Theses

This study investigates the effect of cell phones on economic development and growth by performing an econometric analysis using data from the International Telecommunications Union and the Penn World Table. It discusses the various ways cell phones can make markets more efficient and how the diffusion of information andknowledge plays into development. Several approaches (OLS, Fixed Effects, 2SLS) were used to test over 20 econometric models. Overall, the mobile cellular subscriptions rate was found to have a positive and significant impact on countries’ level of real per capitaGDP and GDP growth rate. Furthermore, the study provides policy implications for the …

Comparative Study Of Informal Health Care Networks And Elderly Health Status In Argentina And Cuba, Ava Ginsberg

Honors Theses

The objective of this study is to evaluate the impact of informal care support networks on the health status, life satisfaction, happiness and anxiety of elderly individuals in Argentina and Cuba. Recent economic changes, demographic changes, the structure of families and changes in women?s labor participation have affected the availability of informal care. Additionally, the growing number of elderly as a percentage of total population has significant implications for both formal and informal care in Argentina and Cuba. Methods: The SABE - Survey on Health, Well-Being, and Aging in Latin America and the Caribbean, 2000 was used as the data …

Real-Time Forecasting, Dean D. Croushore

Economics Faculty Publications

This chapter will discuss real-time forecasting in a macroeconomic policy context. I will begin by talking about the Survey of Professional Forecasters (SPF), a survey of private-sector forecasters. Next, I will discuss research on real-time data analysis and its importance in forecasting. Finally, I will discuss real-time forecasting in the 1990s.

Institutional Divergence In Economic Development, Jonathan B. Wight

Economics Faculty Publications

The Anglo-American capitalist model (AACM) encompasses a set of theories and policies that advance the classical objectives of individual autonomy, wealth acquisition, and economic growth. In the twentieth century, the neoclassical goal of short-run Pareto efficiency was added yet remains in possible tension with these other aims. The AACM generally upholds the primacy of markets as the means for achieving its normative ideals through private, decentralized actions, with some exceptions. In the modern political arena this ideology is associated with the Reagan-Thatcher revolution of the 1980s and provides a framework for many who oppose statist solutions to social problems (Steger …

The Disconnect Between Employer Costs And Employee Value, Kevin F. Hallock

Economics Faculty Publications

There is a tremendous disconnect between the cost of compensation to employers and the value employees place on that compensation. Companies pay a lot more for workers than workers see in their paychecks. The average worker in the US costs his/her employee $29.52 per hour. But only $20.50 of that appeared in the worker's paycheck as wage and salary. The other $8.96 is attributable to other employer costs that employees do not immediately see. Of the $8.96, $2.04 is for paid leave, $0.71 is for supplemental pay, $2.60 is for insurance, $1.31 is for retirement savings, and $2.30 is for …

Cps, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Wage Equivalents (WEQ) and Sectoral Account Inquiries, by A. Shaikh (2010, August 24). Personal communication.
• Income and Outlays of Households and of Nonprofit Institutions Serving Households, by C. I. Mead, C. P. McCully, and M. B. Reinsdorf (2003, April). Survey of Current Business, 83(4), 13–17. Bureau of Economic Analysis.
• Housing Services in the National Economic Accounts, by N. Mayerhauser and M. Reinsdorf (2007, September 11). Bureau of Economic Analysis.
• Measurement of Gross Operating Surplus (GOS), by A. Shaikh (2009). Unpublished manuscript.
• Gross Operating Surplus, Imputed Interest, and Measures of Profitability, by …

Estimating Kg, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Route 91,841 Estimating KG, by A. Shaikh (2000, November 12). Unpublished manuscript.
• Figure 4: Nominal Depletion Rates (Based on BEA 1993 Data), by A. Shaikh (2006, October 10). Unpublished manuscript.
• Effect of Initial Points on KGC Estimates (BEA 1993 vs. Gorman SCB 1985), by A. Shaikh (2011, March 9). Unpublished manuscript.
• Chapter 7: Measurement of Profit, Capital and the Rate of Profit, by A. Shaikh (2011, March 9). Unpublished manuscript.
• Effect Sudden Retirement KGH and KHN, by A. Shaikh (2010, July 25). Unpublished manuscript.
• Effect of Initial Values on Corp Nonfin KG …

Inet Ii Bretton Woods, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• INET Event Office. (2011, March 11). Inet 2011 conference confirmation (Email) (23-10_INET... p. 9).
• INET Event Office. (2011, April 4). Inet logistics (Email) (23-10_INET... p. 2).
• Amtrak. (2011, April 4). Reservation confirmation - this is not a ticket (Email) (23-10_INET... p. 12).
• Fetko, M. (2011, April 4). Re: lodging at bretton woods for anwar shaikh (Email) (23-10_INET... p. 6).