Endogenous Oca (Optimum Currency Area) Analysis And The Early Euro Experience,
2010
Claremont Graduate University
Endogenous Oca (Optimum Currency Area) Analysis And The Early Euro Experience, Thomas D. Willett, Orawan Permpoon, Clas Wihlborg
Business Faculty Articles and Research
Some have argued that the endogenous responses to the formation of a currency area are so strong that one need not worry about optimum currency area conditions ex ante. We argue that this is much too strong a conclusion. We draw on a number of recent studies to evaluate the endogeneity experiences of the eurozone in three major areas; trade flows, business cycle synchronisation and structural reforms to improve labour and product market flexibility. Simple before-and-after comparisons are insufficient for analysis of endogeneity. The experiences of non-euro Western European economies suggest that broader trends also had considerable influence on trade …
Rhode Island Current Conditions Index — January 2010,
2010
University of Rhode Island
Rhode Island Current Conditions Index — January 2010, Leonard Lardaro
The Rhode Island Current Conditions Index
No abstract provided.
Cultural Diversity, Immigration And International Trade: An Empirical Examination Of The Relationship In Nine Oecd Countries,
2010
Whittier College
Cultural Diversity, Immigration And International Trade: An Empirical Examination Of The Relationship In Nine Oecd Countries, Roger White, Bedassa Tadesse
Economics
Employing a variant of the standard gravity equation and data from nine OECD immigrant host countries and 67 trading partners for the years 1996-2001, we examine the immigrant-trade relationship. Particular emphasis is placed on the potential influences of host country cultural diversity and host-home cultural distance. Data from the World Values Surveys and the European Values Surveys are used to calculate the cultural distances between immigrants’ host and home countries. Cultural distance is taken to be a proxy measure for the extent to which immigrants’ host countries are culturally divergent from their home countries. To estimate the cultural diversity of …
Estimating Hypothetical Bias In Economically Emergent Africa: A Generic Public Good Experiment,
2010
Utah State University
Estimating Hypothetical Bias In Economically Emergent Africa: A Generic Public Good Experiment, Arthur J. Caplan, David Aadland, Anthony Macharia
Applied Economics Faculty Publications
This paper reports results from a contingent valuation based public good experiment conducted in the African nation of Botswana. In a sample of university students, we find evidence that stated willingness to contribute to a public good in a hypothetical setting is higher than actual contribution levels. However, results from regression analysis suggest that this is true only in the second round of the experiment, when participants making actual contributions have learned to significantly lower their contribution levels. As globalization expands markets, and economies such as Botswana's continue to modernize, there is a growing need to understand how hypothetical bias …
Measuring How Risk Tradeoffs Adjust With Income,
2010
Claremont McKenna College
Measuring How Risk Tradeoffs Adjust With Income, Mary F. Evans, V. Kerry Smith
CMC Faculty Publications and Research
Efforts to reconcile inconsistencies between theory and estimates of the income elasticity of the value of a statistical life (IEVSL) overlook important restrictions implied by a more complete description of the individual choice problem. We develop a more general model of the IEVSL that reconciles some of the observed discrepancies. Our framework describes how exogenous income shocks, such as unexpected medical expenditures, may affect labor supply decisions which in turn influence both the coefficient of relative risk aversion and the IEVSL. The presence of a consumption commitment, such as a home mortgage, also alters this labor supply adjustment. We use …
Can Weak Substitution Be Rehabilitated?,
2010
Arizona State University
Can Weak Substitution Be Rehabilitated?, V. Kerry Smith, Mary F. Evans, H. Spencer Banzhaf, Christine Poulos
CMC Faculty Publications and Research
This paper develops a graphical analysis and an analytical model that demonstrate how weak substitution can be used for non-market valuation. Weak complementarity and weak substitution represent preference restrictions that allow us to develop equivalent price changes to describe quantity or quality changes in non-market goods. The price changes are Hicksian equivalents in that they yield the same utility changes as would the quantity or quality changes. After discussion of several potential applications of weak substitution, the paper develops the parallel between the restriction and recent strategies from modeling differentiated goods.
The Size Effect And The Capital Asset Pricing Model,
2010
Macalester College
The Size Effect And The Capital Asset Pricing Model, Nikhil Gupta
Award Winning Economics Papers
No abstract provided.
Do Bank Mergers Create Shareholder Value? An Event Study Analysis,
2010
Macalester College
Do Bank Mergers Create Shareholder Value? An Event Study Analysis, Varini Sharma
Award Winning Economics Papers
This paper investigates the economic role of bank mergers in creating shareholder value based on the idea that shareholder wealth will increase if the consolidation leads to the aforementioned gains. This paper is divided into seven sections. The second section of my paper provides an academic review of the literature, focusing on econometric theory that tests the gains in shareholder value and corporate synergies after a merger. The third section introduces a conceptual model I have designed using econometric tools to test how bank mergers create shareholder value. The fourth section embarks on a discussion about my ideal data followed …
The Economic Impact Of The University Of Arkansas,
2010
University of Arkansas, Fayetteville
The Economic Impact Of The University Of Arkansas, Katherine A. Deck, Viktoria Riiman
Publications and Presentations
Founded in 1871, the University of Arkansas was established in the city of Fayetteville as both the state university and the major land‐grant university for Arkansas. The University of Arkansas is a flagship university for the integration of student engagement, scholarship and research, and innovation that collectively transforms lives and inspires leadership for a global society. As such, the impact of the University of Arkansas extends far beyond the transfer of knowledge from professors to students and is far reaching in social and economic terms. As leading research universities across the country engage in the process of enumerating the socio‐economic …
An Exploratory Analysis Of The Relationship Between Student Earnings And Postsecondary Retention,
2010
University of Kentucky
An Exploratory Analysis Of The Relationship Between Student Earnings And Postsecondary Retention, Christopher Jepsen, Darshak P. Patel, Kenneth R. Troske
University of Kentucky Center for Poverty Research Discussion Paper Series
Policy makers are becoming increasingly concerned about the high percentage of students who attend postsecondary education without completing a degree. Researchers have studied numerous potential determinants of retention behavior for postsecondary students, such as financial aid, socioeconomic status, academic preparedness, academic and social integration, and expected future wages. However, none of these studies considers students’ earnings while in school as a potential determinant of retention. Using an administrative data from postsecondary institutions matched with administrative earnings data from the state’s unemployment insurance department, our results indicate that student earnings are negatively correlated to student retention in Kentucky postsecondary institutions. Our …
Family Change And Poverty In Appalachia,
2010
Cornell University
Family Change And Poverty In Appalachia, Daniel Lichter, Lisa Cimbulak
University of Kentucky Center for Poverty Research Discussion Paper Series
The current economic and political climate provides a vivid contrast with the circumstances of the 1990s, when the passage of the 1996 Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA) ushered in welfare reform during a period of unprecedented economic expansion and job growth (Blank 2002; Ziliak 2009). This legislation sought to “end the dependence of needy parents on government benefits by promoting job preparation, work, and marriage.” Among PRWORA’s goals were to reduce out-of-wedlock births and encourage the formation of two-parent families. For most states, much of the initial emphasis on self-sufficiency was placed on “work first” programs (i.e., …
Modeling The Effects Of Peremptory Challenges On Jury Selection And Jury Verdicts,
2010
University of New Hampshire School of Law
Modeling The Effects Of Peremptory Challenges On Jury Selection And Jury Verdicts, Roger Allen Ford
Law Faculty Scholarship
Although proponents argue that peremptory challenges make juries more impartial by eliminating “extreme” jurors, studies testing this theory are rare and inconclusive. For this article, two formal models of jury selection are constructed, and various selection procedures are tested, assuming that attorneys act rationally rather than discriminate based on animus. The models demonstrate that even when used rationally, peremptory challenges can distort jury decision making and undermine verdict reliability. Peremptory challenges systematically shift jurors toward the majority view of the population by favoring median jurors over extreme jurors. If the population of potential jurors is skewed in favor of conviction …
The Rise Of 144a Market For Convertible Debt,
2010
Kennesaw State University
The Rise Of 144a Market For Convertible Debt, Ronging Huang, Gabriel G. Ramirez
Faculty Articles
We document and study the migration of convertible debt offerings from the public to the 144A market during 1991-2004. Over 88% of the 144A convertible debt issues are subsequently registered. An analysis of financing costs (gross spreads, yields, and stock price announcements) and issue characteristics indicates that convertible debt issues in these two markets are essentially the same. We find evidence that the 144A market allows firms to better time equity market conditions. Our findings are consistent with the hypothesis that the 144A market is attractive because it allows firms to issue convertible debt more quickly.
Licensing And Patent Protection,
2010
Kennesaw State University
Licensing And Patent Protection, Aniruddha Bagchi, Arijit Mukherjee
Faculty Articles
We show the impact of technology licensing on optimal patent policy. Strong patent protection that eliminates imitation may not be the equilibrium outcome in the presence of licensing. Depending on the cost of innovation, licensing may either increase or reduce the strength of the patent protection.
The Effects Of Economic Factors In Determining The Transition Process In Europe And Central Asia,
2010
Macalester College
The Effects Of Economic Factors In Determining The Transition Process In Europe And Central Asia, David A. Lopez
Award Winning Economics Papers
This paper examines how economic determinants affect foreign direct investment into a sample of Western European and transition countries from 1990 to 2003. The observed differences in the flow of foreign investment into the transition countries, relative to those in Western Europe, provokes the question of whether this phenomenon was determined by the economic factors present in those countries. Using a conceptual model constructed from economic factors that affect FDI inflows, this study considers the sample set for two sub-periods in the transition process, namely the early period from 1990 to 1998 and the later period from 1998 to 2003. …
Eliminating The Underlying Cause Of Poverty As A Means To Global Economic Recovery,
2010
Syracuse University
Eliminating The Underlying Cause Of Poverty As A Means To Global Economic Recovery, Robert Ashford
College of Law - Faculty Scholarship
The public analysis of the causes of the current recession and the ways to achieve economic recovery generally proceed on the widely-shared, tacit assumption that there is that there is no substantial, first-order connection between the recession and the failure to address the problem of systemic poverty. Otherwise, the need to alleviate systemic poverty and needed solutions to promote economic recovery would be commonly addressed in the same discussions; and they are not. This widely-shared, tacit assumption is false. The failure to reverse systemic poverty is the fundamental cause of current economic crisis. Recessions (and sub-optimal growth) occur when a …
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010,
2010
Central Bank of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2010, Central Bank Of Nigeria
CBN Annual Report
2010 annual report reviews the operations of the Central Bank of Nigeria (CBN) and appraises the macroeconomic policies in 2010. the report is structured into two parts. Part 1 reviews the corporate operations of the bank, while the part 2 evaluates the performance of the economy against the challenges in both the thrust of monetary policy and other financial measures was to improve liquidity and enhance the efficiency and stability of the financial system without compromising the primary goal of monetary and price stability.
India: Rising Power Or A Mere Revolution Of Rising Expectations?,
2010
Claremont Mckenna College
India: Rising Power Or A Mere Revolution Of Rising Expectations?, Aseema Sinha, Jon P. Dorschner
CMC Faculty Publications and Research
In 2009–2010 India faces dramatically different foreign policy challenges than it faced even ten years ago. Similar to other ascendant powers such as China and Brazil but unlike smaller powers, India must not only cope with a transformed international system and project the country's global aspirations, but also ensure that its emergence as a rising power responds to its domestic dilemmas and constraints. India's actions and aspirations on the global stage have changed dramatically toward greater activism and leveraging of its newfound economic strengths. Yet, despite powerful pressures and opportunities nudging India toward a greater role in the global system, …
Modern Slavery: A Regional Focus,
2010
University of Denver
Modern Slavery: A Regional Focus, Amanda Gould
Electronic Theses and Dissertations
Kevin Bales, through his study in Understanding Global Slavery: A Reader, provides an important quantitative analysis on the predictive factors of modern slavery. Upon examining his study though, several issues arise including too few observations for several of the variables and the lack of a regional variable. The author decided to rerun his study with replacements for the problematic variables used previously. Upon obtaining the results from this, the author examined development theory (development is believed to be closely liked to slavery), and began creating an alternative model, which eventually included the addition of a regional variable. This model differed …
Indiana State University Financial Report 2010,
2010
Indiana State University
Indiana State University Financial Report 2010, Indiana State University
Financial Reports
No abstract provided.
