Economics Commons^™

The Corporate Income Tax And The Competitiveness Of U.S. Industries, Michael S. Knoll

All Faculty Scholarship

Hit hard by the financial crisis and recession, U.S. auto producers are seeking a massive bailout from the U.S. Congress. Many reasons are given for the U.S. auto industry’s lack of competitiveness including the U.S. corporate income tax. Although it is regularly asserted that there is a direct connection between the corporate income tax and competitiveness, what that connection is has not been carefully spelled out. In this essay, I describe how the corporate income tax directly harms the competitiveness of U.S. industries. I show that the mechanism differs depending upon whether the U.S. industry is defined as the global …

Contingent Valuation Studies And Health Policy, Matthew D. Adler

All Faculty Scholarship

This short comment argues that both cost-benefit analysis (CBA) and cost-effectiveness analysis (CEA) should be seen as imperfect tools for evaluating health policy. This is true, not only for extra-welfarists, but even for welfarists, since both CBA and CEA can deviate from the use of social welfare functions (SWF). A simple model is provided to illustrate the divergence between CBA, CEA, and the SWF approach. With this insight in mind, the comment considers the appropriate role of contingent-valuation studies. For full text, please see: http://www.law.upenn.edu/cf/faculty/madler/workingpapers/578A59B6d01.pdf.

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.

The Obama Administration And Section Two Of The Sherman Act, Herbert J. Hovenkamp

All Faculty Scholarship

During the administration of President George W. Bush, the Antitrust Division was not enthusiastic about use of §2 of the Sherman Act to pursue anticompetitive single-firm conduct. Indeed, its most prominent contribution on the issue was the Antitrust Division’s §2 Report, which the Obama Antitrust Division withdrew only eight months after it was issued.This withdrawal was entirely in keeping with candidate Obama’s repeated promises to reinvigorate antitrust enforcement.

This essay analyzes the current state of antitrust and makes recommendations concerning structures and practices where increased §2 enforcement is warranted and those where it is not. Wise use of enforcement dollars …

Ua1b1/1 Rodes-Helm Lecture Series, Wku Archives

WKU Archives Collection Inventories

These records were created by and about the Rodes-Helm Lecture Series which invited distinguished, and prominent individuals from the spheres of politics, economics, and the arts, to lecture at the university. The records include programs, and recordings of lectures.

Economic Returns To Early Education For Disadvantaged Children: Lessons From The Highscope Perry Preschool Program (In Russian), James Heckman, Seong Moon, Rodrigo Pinto, Peter A. Savelyev, Adam Yavitz

Arts & Sciences Articles

No abstract provided.

Breach Is For Suckers, Tess Wilkinson-Ryan, David A. Hoffman

All Faculty Scholarship

This paper presents results from three experiments offering evidence that parties see breach of contract as a form of exploitation, making disappointed promisees into “suckers.” In psychology, being a sucker turns on a three-part definition: betrayal, inequity, and intention. We used web-based questionnaires to test the effect of each of the three factors separately. Our results support the hypothesis that when breach of contract cues an exploitation schema, people become angry, offended, and inclined to retaliate even when retaliation is costly. This theory offers a useful advance insofar it explains why victims of breach demand more than similarly situated tort …

Continuing Studies In Rio Grande Valley History, Milo Kearney, Anthony K. Knopp, Antonio Zavaleta

UTRGV & TSC Regional History Series

Coming to the Valley, a poem / Vivian Kearney -- The ghosts of historic Palmito Hill Ranch / Antonio N. Zavaleta -- Against the odds : Dr. Juliet V. García, border educator / Manuel F. Medrano -- Lucile Champion's Brownsville : remembrances of another time / Frank Champion Murphy -- The restored courthouse and Judge Oscar Dancy / Anthony Knopp -- Francesco Voltaggio and the Port Isabel shrimp industry / Virginia Voltaggio Wood -- Mario Barrera : a border success story / Milo Kearney -- Selected figures from the Sierra/Valerio family history / Luciano Valerio Sierra and Amy Sierra Frazier …

Integrated Overview, Case-Studies And Analysis: Income Inequality In Latin America, Post-1980, Aaron R. Campbell

CMC Senior Theses

This thesis provides an integrated overview on the historical and contemporary literature dedicated to the study of within-country income inequality in Latin America.

The central hypothesis of this report is that there are underlying factors that drive the persistent levels of high within-country inequality experienced by Latin American countries. We study two countries, Brazil and Bolivia, through the process of reform and growth, and note the effects on the labor markets.

Using all available statistics and the wealth of knowledge compiled since the early 1980s, this study identifies those trends, and the factors that cause them to reappear in numerous …

Falling Into The Liquidity Trap: Notes On The Global Economic Crisis, Thomas R. Michl

PERI Working Papers

This paper examines the underlying structural imbalances leading up to the Great Recession of 2007-2009 from the vantage point of Hyman Minsky’s theory of the liquidity trap. The traditional approach to the liquidity trap focuses on the zero interest rate boundary while Minsky’s theory focuses on three conditions that make investment spending unresponsive to monetary policy: low underlying ex post profitability of capital, weak expectations about future profitability, and uncertainty about prospective yields. The paper structures an empirical investigation of profitability and accumulation around these three factors. The Great Recession was preceded by an unbalanced recovery in which residential investment …

Generating Jobs Through State Employer Tax Credits: Is There A Better Way?, Jeff Thompson, Heidi Garrett-Peltier

PERI Working Papers

The Governors of Massachusetts, Connecticut, and several other states have recently proposed employer tax credits as measures to fight high unemployment in their states. Such policies are also being consid-ered at the federal level. The authors find that such policies, in fact, do little to increase aggregate de-mand, and instead only modestly reduce the after-tax cost of labor in an economy with high unemployment, falling wages, and weak demand They suggest a more effective approach to creating jobs in the states: increasing spending in labor-intensive sectors and programs that are matched by federal funds, such as Medicaid. These expenditures would …

Economic Inequality And Environmental Quality: Evidence Of Pollution Shifting In Russia, Marina S. Vornovytskyy., James K. Boyce

PERI Working Papers

This paper utilizes the Russian Statistical Agency's data on air pollution in Russia to analyze the impact of economic inequalities among Russia's regions on environmental degradation. Controlling for the absolute level of income, we find that regions with lower incomes relative to those of neighboring regions have more uncontrolled air pollution. Differences in uncontrolled pollution do not appear to be attributable to differences in spending on pollution control, suggesting that facility siting provides the dominant explanation. In addition, we find that greater within-region inequalities in income and in the provision of public goods are associated with greater uncontrolled air pollution.

Cyclical Patterns Of Employment, Utilization And Profitability, Ben Zipperer, Peter Skott

Economics Department Working Paper Series

The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the `heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and cycles in individual time series and examine the bivariate cycical patterns among the variables.

What Happens When Uganda Is Sapped! : Have Uganda's Structural Adjustment Policies Increased Women's Poverty?, Talin Saroukhanian

Legacy Theses & Dissertations (2009 - 2024)

Have the World Bank's policy-based loans exacerbated or reduced poverty in

Multiethnic Labor Markets And Socioeconomic Mobility : A Career Trajectory Perspective, Jeremy F. Pais

Legacy Theses & Dissertations (2009 - 2024)

In the United States, high rates of immigration have once again raised important questions concerning the effect of ethnic diversity on patterns of socioeconomic mobility and levels of inequality between racial and ethnic groups. However, despite the potential effect of immigration and ethnic diversity on racial and ethnic stratification within multiethnic societies, research has yet to provide an examination of the impact of these factors on patterns of social mobility over the life course. While prior research focuses extensively on metropolitan area characteristics related to contemporaneous race and ethnic labor market disparities, the primary contribution of this research is to …

Capm In Up And Down Markets: Evidence From Six European Emerging Markets, Jianhua Zhang, Clas Wihlborg

Business Faculty Articles and Research

The pricing of equity in six European emerging capital markets is analysed using both the conventional CAPM and a ‘conditional’ CAPM wherein up and down markets are separated. International influences on the stock markets are also analysed. The empirical evidence from a sample of 1,131 firms from the six markets indicates that there exists a significant relationship between beta and returns when up and down markets are separated. The international CAPM performs well in some markets that have become increasingly integrated with the world market. The general implication of the analysis is that beta can be a useful risk-measure for …

Three Essays On The Determinants Of Foreign Direct Investment (Fdi), Haitao Liang

Dissertations, Theses, and Capstone Projects

At first, a literature review of over 150 articles on the determination of Foreign Direct Investment (FDI) proposes the main determinants of FDI. A meta-analysis tests the reliability of the previous studies on FDI.

Then, a cluster analysis on FDI data reveals the necessary to segment economies, especially by income level, in FDI analysis.

A large number of studies emphasize FDI determinants but ignore the income distribution on the results, which biases the estimates. In Chapter 3, I correct for heterogeneity due to income distribution by using the Blundell-Bond System GMM (Generalized Method of Moments), which controls for endogeneity problem …

Analytical General Equilibrium Effects Of Energy Policy On Output And Factor Prices, Garth Heutel, Don Fullerton

ECON Publications

Using an analytical general equilibrium model, we find solutions for the effect of energy policy on factor prices as well as output prices. We calibrate the model to the U.S. economy, and we consider a tax on carbon dioxide. By looking at expenditure and income patterns across household groups, we quantify the uses-side and sources-side incidence of the tax. When households are categorized either by annual income or by total annual consumption as a proxy for permanent income, the uses-side incidence is regressive. This result is robust to sensitivity analysis over various parameter values. The sources-side incidence can be progressive, …

The General Equilibrium Incidence Of Environmental Mandates, Garth Heutel, Don Fullerton

ECON Publications

Pollution regulations affect factor demands, relative returns, production, and output prices. In our model, one sector includes pollution as an input that can be a complement or substitute for labor or capital. For each type of mandate, we find conditions where more burden is on labor or on capital. Stricter regulation does not always place less burden on the better substitute for pollution. Also, restrictions on pollution per unit output create an “output-subsidy effect” on factor prices that can reverse the usual output and substitution effects. We find analogous effects for a restriction on pollution per unit capital.

Trust With Private And Common Property: Effects Of Stronger Property Right Entitlements, James C. Cox, Daniel T. Hall

ECON Publications

Is mutually beneficial cooperation in trust games more prevalent with private property or common property? Does the strength of property right entitlement affect the answer? Cox, Ostrom, Walker, et al. [1] report little difference between cooperation in private and common property trust games. We assign stronger property right entitlements by requiring subjects to meet a performance quota in a real effort task to earn their endowments. We report experiment treatments with sequential choice and strategy responses. We find that cooperation is lower in common property trust games than in private property trust games, which is an idiosyncratic prediction of revealed …