Economics Commons^™

Battese-Coelli Estimator With Endogenous Regressors, Levent Kutlu

School of Economics and Finance Faculty Publications

We provide a framework for dealing with the endogeneity problem in the Battese-Coelli estimator for productive efficiency measurement.

Introduction: Culture, Economy, Policy: Trends And Developments, Lily Kong

Research Collection School of Social Sciences

The important nexus between culture and economy is by no means a recent development nor a novel inclusion on the social science agenda. As Harvey pointed out in his foreword to Zukin's (1988)Loft Living, the artist, as one `representative' of the cultural class, has always shared a position in the market system, whether as artisans or as “cultural producers working to the command of hegemonic class interest”. In the last two to three decades, in the US and more lately, in western Europe, cultural activities have become increasingly significant in the economic regeneration strategies in many cities. Geographers, however, have …

A Spatial Analysis Of Aggregate And Industry-Level Fdi In China, Shalendra Sharma, Miao Grace Wang, M. C. Sunny Wong

Economics Faculty Research and Publications

No abstract provided.

Bayesian Analysis Of Structural Credit Risk Models With Microstructure Noises, Shirley J. Huang, Jun Yu

Research Collection Lee Kong Chian School Of Business

In this paper a Markov chain Monte Carlo (MCMC) technique is developed for the Bayesian analysis of structural credit risk models with microstructure noises. The technique is based on the general Bayesian approach with posterior computations performed by Gibbs sampling. Simulations from the Markov chain, whose stationary distribution converges to the posterior distribution, enable exact finite sample inferences of model parameters. The exact inferences can easily be extended to latent state variables and any nonlinear transformation of state variables and parameters, facilitating practical credit risk applications. In addition, the comparison of alternative models can be based on devian information criterion …

Group Reputation, Anonymous Matching, And External Monitoring In A Model Of Corruption, Huan Wang, Yi Zhang

Research Collection School Of Economics

We explore what group reputation is and model its formation and evolution. Based solely on group signals, we define a player’s group reputation as the belief that others have about the characteristics of the group the player belongs to. A model of group reputation of civil servants with anonymous matching and external monitoring is constructed to characterize the strategic behavior of potential bribers and civil servants, the corresponding levels of corruption, possible anti-corruption policies, and the effects of these policies. Our results indicate that as there are two types of corruption behavior of civil servants: accepting bribes and dereliction of …

Sex Ratios, Divorce Laws And The Marriage Market, Brishti Guha

Research Collection School Of Economics

We show how an interaction between the skewness of the sex ratio and the jump in divorce rates after a liberalization in divorce laws can obtain in a model of marriage market matching with non-transferable utility. This model is partly motivated by a significant cross-country correlation between these two variables. We also find that men’s hopes or fears about women’s marriage market odds are self-confirming under mutual consent, resulting in multiple equilibria. The multiplicity vanishes with a more skewed sex ratio or a liberalization of divorce laws. Our work sheds some light on the possible implications of divorce liberalization and …

Conformism And Turnout, Massimiliano Landi, Mauro Sodini

Research Collection School Of Economics

This paper proposes a model of turnout in which citizens have a preference for conformism, which adds to the instrumental preference for the electoral outcome. Under this environment multiple equilibria arise, some that generate a (more realistic) high level of turnout, for a wide rage of parameter values. It is also shown that high levels of turnout are robust to the introduction of asymmetry and heterogeneity in the parameter governing the preference for conformism and with respect to the reference group for conformism.

This model suggests that high turnout can only be achieved as the outcome of a particular coordination …

Unpacking Sources Of Comparative Advantage: A Quantitative Approach, Davin Chor

Research Collection School Of Economics

This paper develops an approach for quantifying the importance of different sources of comparative advantage, by extending the Eaton and Kortum (2002) model to predict industry trade flows. In this framework, comparative advantage is determined by the interaction of country and industry characteristics, with countries specializing in industries whose production needs they can best meet with their factor endowments and institutional strengths. I estimate the model parameters using: (i) OLS; and (ii) a simulated method of moments procedure that accounts for the prevalence of zeros in the bilateral trade data. I apply the model to explore various quantitative questions, such …

Economic Impact Of Agriculture On South Dakota, Gary Taylor

Economics Commentator (1972- 2016)

No abstract provided.

Institutions For Market Governance And Doing Business, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

I would like to place the topic assigned to me in the larger context of separation of functions of policy making, ownership of the assets and regulatory oversight. Until the beginning of this decade all these varied functions in Pakistan were bundled together and carried out by each Ministry. In early 2000s the Cabinet decided to unbundle these functions to avoid conflict of interest, protect consumers and provide a level playing field for both the public and private sectors. The concern was: How can a private firm compete with a public sector firm in the same field when the owner …

Capital And Labor Mobility And Their Impacts On Mexico’S Regional Labor Markets, Rene Cabral, Andre V. Mollick, João Ricardo Faria

School of Economics and Finance Faculty Publications

This paper studies the effects of capital and labor mobility on real wages across Mexican states for the period 1997–2006. Employing dynamic panel data methods, we find: (1) strong positive effects on real wages from foreign direct investment (FDI) and from migration; (2) domestic and foreign migration provide similar wage effects; and (3) alternative partitions indicate that real wages are more sensitive to FDI-related fluctuations across states with relatively lower wages and migration levels. Overall, these results provide support that real wages respond positively to fluctuations in capital flows and labour movements as predicted from the theory.

Providing A Voice To ‘Excluded’ Nations In The G20, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The formation of the G20 grouping of finance ministers and central bank governors and their heads of state is indeed a significant improvement compared to the previous G8 arrangements. The dynamic changes in global economic output and international trade are adequately reflected in this expanded group. The inclusion of 10 emerging economies such as South Africa, Mexico, Argentina, Brazil, China, South Korea, India, Indonesia, South Arabia and Turkey in the consultative process has broadened the scope of the dialogue. but it still excludes 170 nations from direct participation in this forum. Norway, one of the major donors to development programs, …

Estimating The Costs Per Job Created Of Employer Subsidy Programs, Timothy J. Bartik

Conference Papers

No abstract provided.

The Housing Market 'Reset' And The Future Of American Housing Policy, Alan Mallach

Brookings Scholar Lecture Series

The foreclosure crisis and the collapse in housing prices that have engulfed much of the United States are fundamentally changing the ways in which the American housing market works, challenging many of the assumptions about the role of housing and the housing market that we have held for the past decades. In my lecture, I will discuss how and why those changes are taking place and how they vary across the United States and explore what they mean for American housing policy in the future, and how they are making us reconsider how we think about home ownership, rental housing, …

Economic Stability And Growth In Pakistan, Ishrat Husain Dr.

Faculty Research - Talks, Speeches, & Discourse

This lecture is divided into four parts. I would begin by narrating the pre-requisites for economic stability and growth at a generalized level drawing on the experience of the last six decades. Then I would dwell upon the positive factors in Pakistan that can influence the rate of economic growth. Next I take up the negative domestic factors that are impeding the path of economic growth followed by the external shocks that have worsened the situation.

Ua37/29 Gary Ransdell - Monetary Policy In A Low-Inflation Environment, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's speech, Revisiting Monetary Policy in a Low-Inflation Environment delivered at the Federal Reserve Bank of Boston Conference in Boston, Massachusetts.

The Response Of The U.S. Workforce System To The Needs Of Workers During The Current Recession, Randall W. Eberts

Conference Papers

No abstract provided.

Tools And Methods To Anticipate Local Job Creation & Suppression: Opportunities And Threats, Randall W. Eberts

Conference Papers

No abstract provided.

Capital Markets, Cdfis, And Organizational Credit Risk, Charles Tansey, Michael E. Swack, Michael Tansey, Vicky Stein

Carsey Publications

Can Community Development Financial Institutions (CDFIs) get unlimited amounts of low cost, unsecured, short- and long-term funding from the capital markets based on their organizational credit risk? Can they get pricing, flexibility, and procedural parity with for-profit corporations of equivalent credit risk? One of the key objectives of this book is to explain the reasons why the answer to the two questions above remains “no.” The other two key objectives are to show the inner workings of what has been done to date to overcome the obstacles so that we don’t have to retrace the same steps and recommend additional …

Talent 2025: Assessment Of The West Michigan Talent Development System, George Erickcek, Brian Pittelko, Bridget Timmeney, Brad R. Watts

Reports

No abstract provided.