Functional Coefficient Estimation With Both Categorical And Continuous Data,
2010
Singapore Management University
Functional Coefficient Estimation With Both Categorical And Continuous Data, Liangjun Su, Ye Chen, Aman Ullah
Research Collection School Of Economics
We propose a local linear functional coefficient estimator that admits a mix of discrete and continuous data for stationary time series. Under weak conditions our estimator is asymptotically normally distributed. A small set of simulation studies is carried out to illustrate the finite sample performance of our estimator. As an application, we estimate a wage determination function that explicitly allows the return to education to depend on other variables. We find evidence of the complex interacting patterns among the regressors in the wage equation, such as increasing returns to education when experience is very low, high return to education for …
Testing Linearity In Cointegrating Relations With An Application To Purchasing Power Parity,
2010
Korea University - Korea
Testing Linearity In Cointegrating Relations With An Application To Purchasing Power Parity, Seong Hyun Hong, Peter C. B. Phillips
Research Collection School Of Economics
This article shows that when applied to nonstationary time series, the conventional Regression Error Specification Test (RESET) leads to severe size distortion and its asymptotic distribution involves a mixture of noncentral chi(2) distributions. Nonstationarity introduces bias terms in the limit distribution, and appropriate corrections for the bias are presented leading to a modified RESET test that has a central chi(2) limit distribution. In simulations, this modified test is shown to have power not only against nonlinear cointegration but also against the absence of cointegration. In an empirical illustration, the linear purchasing power parity (PPP) specification is tested using five Organization …
Cost And Price Increases In Higher Education: Evidence Of A Cost Disease On Higher Education Costs And Tuition Prices And The Implications For Highes Education Policy,
2010
Seton Hall University
Cost And Price Increases In Higher Education: Evidence Of A Cost Disease On Higher Education Costs And Tuition Prices And The Implications For Highes Education Policy, Jerry Trombella
Seton Hall University Dissertations and Theses (ETDs)
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The Role Of Guanxi Network In The Corruption-Efficiency Relationship,
2010
Old Dominion University
The Role Of Guanxi Network In The Corruption-Efficiency Relationship, Shaomin Li
Management Faculty Publications
Why do some countries like China thrive economically despite of corruption? The effect of corruption on economic efficiency is moderated by whether a society has an extensive informal social network such as the guanxi network in China. In societies with a thick, extensive informal social network, bribery- corruption relationship can be easily established and the risk of being reported is low. This relation-based trust makes the dissemination of corruption goods--the sale of government goods for private gains--more market-based. The competition among potential bribers increases the efficiency of corruption (or making corruption less wasteful). In societies that lack such strong informal …
Exchange Rate Pass Through Into Domestic Prices In Mainland China,
2010
Edith Cowan University
Exchange Rate Pass Through Into Domestic Prices In Mainland China, Xiangyu Zhang
Theses : Honours
The present study sets up an empirical framework to study the exchange rate pass through (ERPT) issue in China's domestic markets, within the Chinese economic reform period from 1978 till present. The results show a relative low degree of pass-through to consumer and retail prices, but high degree of pass-through to producer and purchasing prices. It suggests that the degree of ERPT tends to diminish along the price chain. In addition, the results also show an increasing trend of the degree of ERPT in recent years. The speed of price reaction to exchange rate shocks may be quicker in recent …
Risking Returns: Moving From Public To Private Equity,
2010
Singapore Management University
Risking Returns: Moving From Public To Private Equity, Aurobindo Ghosh
Research Collection School Of Economics
The notion of risk identifies a project that matches with the risk appetite of an entrepreneur not necessarily the investors. This can explain why entrepreneurs would start up companies but it cannot explain why ex-post the investors continue, given that a diversified portfolio of publicly traded assets could potentially generate similar return with lower risk. We re-evaluate the evidence through performance measures using relative probability distributions of public and private equity funds, and identify the nature of the deviations. We observe that the heterogeneity in different investor classes are greatly reduced using standard covariates to identify the choice between public …
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment,
2010
Dartmouth College
Is There Monopsony In The Labor Market? Evidence From A Natural Experiment, Douglas O. Staiger, Joanne Spetz, Ciaran S. Phibbs
Dartmouth Scholarship
Recent theoretical and empirical advances have renewed interest in monopsonistic models of the labor market. However, there is little direct empirical support for these models. We use an exogenous change in wages at Department of Veterans Affairs (VA) hospitals as a natural experiment to investigate the extent of monopsony in the nurse labor market. We estimate that labor supply to individual hospitals is quite inelastic, with short-run elasticity around 0.1. We also find that non-VA hospitals responded to the VA wage change by changing their own wages.
Woman's Work: Female Lighthouse Keepers In The Early Republic, 1820–1859,
2010
Old Dominion University
Woman's Work: Female Lighthouse Keepers In The Early Republic, 1820–1859, Virginia Neal Thomas
History Theses & Dissertations
During the Early Republic between 1820 and 1859, women, on average, comprised about five percent of the principal lighthouse keepers in the United States. These women represent a unique exception to the experience of the majority of working women during the Early Republic. They received equal pay to men, and some supervised lower-paid male assistants. They filled these predominately male positions because lighthouse work had much in common with stereotypical woman's work, they were most often related to the previous keeper, and they fit within cultural ideals of gender roles. Inquiry beyond the romantic image crafted for these light keepers …
Two New Zealand Pioneer Econometricians,
2010
Yale University
Two New Zealand Pioneer Econometricians, Peter C.B. Phillips
Cowles Foundation Discussion Papers
Two distinguished New Zealanders pioneered some of the foundations of modern econometrics. Alec Aitken, one of the most famous and well-documented mental arithmeticians of all time, contributed the matrix formulation and projection geometry of linear regression, generalized least squares (GLS) estimation, algorithms for Hodrick Prescott (HP) style data smoothing (six decades before their use in economics), and statistical estimation theory leading to the Cramér Rao bound. Rex Bergstrom constructed and estimated by limited information maximum likelihood (LIML) the largest empirical structural model in the early 1950s, opened up the field of exact distribution theory, developed cyclical growth models in economic …
Pricing In Matching Markets,
2010
Yale University
Pricing In Matching Markets, George J. Mailath, Andrew Postlewaite, Larry Samuelson
Cowles Foundation Discussion Papers
Different markets are cleared by different types of prices — a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion of premuneration values — the values in the absence of any muneration (payments) — created by the buyer-seller match. We characterize the premuneration values under which uniform-price and personalized-price equilibria agree. In this case, we have efficient allocations, including pre-match investment decisions, without the costs of personalized pricing. We then examine the …
Coastal Empire Economic Monitor, 1st Quarter, 2010,
2010
Georgia Southern University
Coastal Empire Economic Monitor, 1st Quarter, 2010, Armstrong Atlantic State University Center For Regional Analysis
Coastal Empire Economic Monitor
The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.
Coastal Empire Economic Monitor, 2nd Quarter, 2010,
2010
Georgia Southern University
Coastal Empire Economic Monitor, 2nd Quarter, 2010, Armstrong Atlantic State University Center For Regional Analysis
Coastal Empire Economic Monitor
The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.
Anger, Irony, And The Formal Rationality Of Professionalism,
2010
Indiana University Maurer School of Law
Anger, Irony, And The Formal Rationality Of Professionalism, Ajay K. Mehrotra
Articles by Maurer Faculty
No abstract provided.
Political Economy,
2010
University of Richmond
Political Economy, Sandra J. Peart, David M. Levy
Jepson School of Leadership Studies articles, book chapters and other publications
Political economy describes how human societies are organized by exchange. The critical issue for political economists is the interaction between self-directed decision making and the incentives that turn decisions into approved outcomes. In this interaction, political economists see a key role for leadership, a role that depends upon our common concern for others (Robbins, 1981). There are three roles, then, for leadership in the political economist’s model: self-directed decision making, incentive making, and establishing the criteria for approved outcomes.
Managing Female Foreign Domestic Workers In Singapore: Economic Pragmatism, Coercive Legal Regulation, Or Human Rights,
2010
Singapore Management University
Managing Female Foreign Domestic Workers In Singapore: Economic Pragmatism, Coercive Legal Regulation, Or Human Rights, Eugene K. B. Tan
Research Collection Yong Pung How School Of Law
Singapore's immigration discourse is deeply influenced by its need to “right-size” its population. As a society that has and remains in need of immigration, contemporary immigration and globalization have rigorously challenged the conventional thinking and understanding of citizenship, as well as notions of who belongs and who does not. Nevertheless, international marriages and pervasive in-and out-migration for purposes of employment, study, and family, conspire to make more pronounced the decoupling of citizenship and residence in Singapore. This transnational dimension sits uncomfortably with the policy makers' desire for, and the imperatives of, state sovereignty, control, and jurisdiction.Although one quarter of people …
The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China,
2010
Singapore Management University
The Beginning Of The End? Agricultural Modernization And Dissolution Of The Peasantry In Contemporary China, Qian Forrest Zhang, John A. Donaldson
Research Collection School of Social Sciences
No abstract provided.
Acting In Good Faith: An Economic Approach To Religious Organizations As Advocacy Groups,
2010
Chapman University
Acting In Good Faith: An Economic Approach To Religious Organizations As Advocacy Groups, Anthony J. Gill, Steven J. Pfaff
Sociology Faculty Books and Book Chapters
"Advocacy groups are all the rage! Over the past two decades, a new cottage industry has erupted in academia examining the seemingly explosive growth in new social movements, advocacy groups and nongovernmental organizations (NGOs) that has occurred in Western industrialized nations and several developing nations as well. Many of these movements and NGOs have crossed international boundaries, feeding the notion that globalization is eroding boundaries between people all around the world. This literature certainly has added to our knowledge of how advocacy groups originate and operate. But curiously missing from these recent studies has been any discussion of what amounts …
Fight Or Flight? Defending Against Sequential Attacks In The Game Of Siege,
2010
Chapman University
Fight Or Flight? Defending Against Sequential Attacks In The Game Of Siege, Cary Deck, Roman M. Sheremeta
ESI Working Papers
This paper examines theory and behavior in a two-player game of siege, sequential attack and defense. The attacker’s objective is to successfully win at least one battle while the defender’s objective is to win every battle. Theoretically, the defender either folds immediately or, if his valuation is sufficiently high and the number of battles is sufficiently small, then he has a constant incentive to fight in each battle. Attackers respond to defense with diminishing assaults over time. Consistent with theoretical predictions, our experimental results indicate that the probability of successful defense increases in the defenders valuation and it decreases in …
Personality And The Consistency Of Risk Taking Behavior: Experimental Evidence,
2010
Chapman University
Personality And The Consistency Of Risk Taking Behavior: Experimental Evidence, Cary Deck, Jungmin Lee, Javier Reyes
ESI Working Papers
Researchers have found that an individual’s risk attitude is not stable across elicitation methods. Results reported by Deck et al. (2009) suggest that personality may help explain the apparent inconsistency, offering support to Borghans et al.’s (2008) argument that economists should consider a multi‐domain approach to measuring risk attitudes. This paper uses laboratory methods to compare risk attitudes as measured by the Holt and Laury (2002) procedure under two different frames. We find that, as in Deck et al. (2009), one’s willingness to take financial risks (as measured by Weber et al. 2002) significantly affects behavior; however the effect is …
Price Increasing Competition? Experimental Evidence,
2010
Chapman University
Price Increasing Competition? Experimental Evidence, Cary Deck, Jingping Gu
ESI Working Papers
Economic intuition suggests that increased competition generates lower prices. However, recent theoretical work shows that a monopolist may charge a lower price than a firm facing a competitor selling a differentiated product. The direction of the price change when competition is introduced is dependent upon the joint distribution of buyer values for the two products. We explore this relationship using controlled laboratory experiments. Our results indicate that the distribution of buyer values does affect prices in a manner consistent with the theoretical predictions, although price increasing competition is rare due in part to overly intense competition regardless of the distribution …
