Economic Policy Commons^™

The Dangers Of Aggressive Trade Liberalization: Why The Washington Consensus Is Not A Global Consensus, Stephen T. Hanshaw

Government Undergraduate Publications

The theory of trade and capital market liberalization has been floated around in discussions about economic stability and development for decades. Due to the fact that the world is becoming more and more interdependent and interconnected each and every day, the necessity for a global market emerged in the early 1990’s. The Western response to globalization in many cases was dubbed the "Washington Consensus," of which trade liberalization is a huge part. The idea of trade liberalization is centralized in the idea of a free-market economy, originally posited by Adam Smith. His model proposed the idea of the "invisible hand", …

Community-Based Analytics: Big Data And Decision Making For Community-Based Organizations, Michael P. Johnson

McCormack Graduate School General Publications (active until 2013)

Community-based organizations face significant challenges in identifying data needs, and assembling data resources for service provision, strategy design and advocacy. We develop principles by which CBOs can develop and share large datasets in order to formulate and solve decision problems that improve the well-being of localized, often marginalized or distressed communities. We illustrate these ideas using field research from Boston, MA.

Model Selection In The Presence Of Incidental Parameters, Yoonseok Lee, Peter C.B. Phillips

Center for Policy Research

This paper considers model selection in nonlinear panel data models where incidental parameters or large-dimensional nuisance parameters are present. Primary interest typically centers on selecting a model that best approximates the underlying structure involving parameters that are common within the panel after concentrating out the incidental parameters. It is well known that conventional model selection procedures are often inconsistent in panel models and this can be so even without nuisance parameters (Han et al, 2012). Modifications are then needed to achieve consistency. New model selection information criteria are developed here that use either the Kullback-Leibler information criterion based on the …

How Local Workforce Investment Boards Can Help Support Job Creation, Randall W. Eberts

Employment Research Newsletter

No abstract provided.

Does Retirement Induced Through Social Security Pension Eligibility Influence Subjective Well-Being? A Cross-Country Comparison, Arie Kapteyn, Jinkook Lee, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

How does retirement influence subjective well-being? Some studies suggest retirement does not affect subjective well-being or may improve it. Others suggest it adversely affects it. This paper aims at advancing our understanding of the effect of retirement on subjective well-being by (1) using longitudinal data to tease out the retirement effect from age and cohort differences; (2) using instrumental variables to address potential reverse causation of subjective well-being on retirement decisions; and (3) conducting cross-country analyses, exploiting differences in eligibility ages for retirement benefits across countries and within countries. We use panel data from the US Health and Retirement Study …

Measuring Social Unrest Based On Income Distribution, Yoonseok Lee, Donggyun Shin

Center for Policy Research

This paper develops a social unrest measure by revising Esteban-Ray (1994, Econometrica) polarization index. For the purpose of measuring more effectively the level of social unrest that is generated by separation of income classes, the new index allows for asymmetry between the rich and the poor groups’ alienation feeling against the other, and it constructs a more effective group identification function. To facilitate statistical inferences, asymptotic distribution of the proposed measure is also derived using results from U-statistics, and an easy-to-implement jackknife-based variance estimation algorithm is obtained. Since the new index is general enough to include the Esteban-Ray index and …

The Trajectory Of Warwick Junction As A Site Of Inclusivity In Post-Apartheid South Africa, Kara Van Schilfgaarde Van Schilfgaarde

Independent Study Project (ISP) Collection

Warwick Junction, a thriving trading hub in the inner city of Durban, has long been considered one of the best examples of collaborative urban management practices between the local government and informal traders. In a post-apartheid South Africa, there was a national desire to transform the old systems of governance, which in Warwick translated to city government institutions making an effort to include informal traders in the policymaking and management processes. This paper tracks the history of Warwick Junction, using its oppressive past to frame common perspectives of informal trade. It considers the legacy of the post-apartheid era South Africa, …

Valuation Of The Ecosystem Services Provided By Coastal Ecosystems In Shandong, China: Developing A Non-Market Valuation System, Stephen Hynes, Rui Zhao, Jing Guo

Working Papers

Based on unique geographical, economic and ecological characteristics, the coastal regions have been serving as the most important supports for human benefits. From food provision, ecosystem regulation, wildlife habitat to various recreational and aesthetic activities, humans have been obtaining direct and indirect well-being from the coastal ecosystems. If properly managed and sustainably protected, these benefits should be translated to human welfare for current and future generations (Brenner, et al., 2010) . The lack of complete understanding of total values obtained from coastal ecosystems, especially the underestimating of ecosystem benefits has led to management failures. As a result, most coastal resources …

Technical Appendix: Economic Impact Of The Commercial Fisheries On Local County Economies From Catch In California National Marine Sanctuaries 2010, 2011 And 2012. Marine Sanctuaries Conservation Series Onms-13-07, Vernon R. Leeworthy, Desiree Jerome, Kelsey Schueler

Working Papers

This report documents the data and methods of estimation used in estimating the economic impact of commercial fishing catch from all four National Marine Sanctuaries in California on local county economies in terms of harvest revenue received by fishermen and the associated economic impacts, including multiplier impacts, on total output, value added, income and the number of full- and part-time jobs.

Casinos Would Not Help New York’S Schools, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

Peer Effects In The Demand For Housing Quality, Eleonora Patacchini, Giuseppe Venanzoni-Sapienza

Center for Policy Research

Using detailed data on friendship networks within neighborhoods, we investigate the importance of social interactions in one's own residential neighborhood in the demand for housing quality. We find evidence consistent with the presence of peer effects, especially for households living in urban areas. Our findings are in line with the prediction of a model where conformity preferences are the key element underlying economic outcomes that involve interactions with peers.

The Effects Of School Desegregation On Teenage Fertility, Robert Bifulco, Leonard M. Lopoo, Sun Jung Oh

Center for Policy Research

The school desegregation efforts following the historic Supreme Court ruling in Brown v. Board of Education (1954) represent one of the most important social policy initiatives of the 20th century. Despite a large research literature on desegregation and educational outcomes, its effects on the lives of individuals are still not fully understood. In this paper we examine the effects of desegregation on the fertility of teenagers. Our findings suggest that desegregation increased the fertility of African American teens and is unrelated to the fertility of white teens.

Asean: Integration, Internal Dynamics And External Relations, Clara Portela

Research Collection School of Social Sciences

Throughout its evolution, ASEAN has consistently maintained its attachment to the full respect of national sovereignty and the principle of non-interference in internal affairs, which translates into consensual decision-making, political rather than legally-binding agreements and the lack of sanctions for non-compliance. A major breakthrough in terms of institutionalisation came about with the signing of the ASEAN Charter of 2007, which has enhanced ASEAN’s standing as a rule-based organisation and approximated it somewhat to structures typical of the EU. Unfortunately, the persistence of consensual decision-making and non-confrontational habits has slowed down some of ASEAN’s integration projects and hindered the development of …

Demographics, Skills Gaps, And Market Dynamics, Randall W. Eberts

Conference Papers

No abstract provided.

A Dissatisfied Partner: A Conflict - Integration Analysis Of Britain's Membership In The European Union, Osman Goktug Tanrikulu

Dissertations and Theses

Since 2009, the European Union has faced the worst economic crisis of its history. Due to the devastating impact of the Eurozone crisis on their economies, European countries realized the need to deepen the integration. Without a fiscal union, the Monetary Union would always be prone to economic crises. However, the efforts to reinforce the Union’s economy have been hampered by the UK due to its obsession with national sovereignty and lack of European ideals. In opposing further integration, the UK officials have started to speak out about the probability of leaving the EU.

The purpose of this paper is …

Can State And Local Revenue And Expenditure Enhance Economic Growth? A Cross-State Panel Study Of Fiscal Activity, Christopher Arthur Clarke

UNLV Theses, Dissertations, Professional Papers, and Capstones

The slow economic recovery since the 2008 financial crisis and Great Recession requires state and local governments to continue to make difficult decisions concerning which taxes to raise and which expenditures to decrease in order to maintain a balanced budget. As expenditures usually raise economic growth and taxes generally hinder it, seeking the optimum combination of tax structures and expenditure options is necessary to encourage prosperity in a state. In this paper I study the effects of various expenditures and revenue combinations on growth in state personal income from 1977-2010 for 49 states and the District of Columbia. I find …

Why Do Similar Provinces Approach Development Differently? An Approach To Understanding Central-Local Relations In China, John A. Donaldson

Research Collection School of Social Sciences

As China decentralized in the 1980s, many provinces received the latitude to implement their own strategies and approaches to economic development. Not surprisingly, such strategies varied regionally as provinces with different levels of wealth and resources implemented different approaches to achieving economic development. Yet, some of these examples are quite puzzling, with provinces that share many similarities implementing markedly different strategies. Moreover, some provinces not only implemented different approaches to economic development, but adopted entirely different goals – interpreting the very definition of economic development differently. To explain these differences, China scholars have focused on different factors, including constraints and …

Fearless: Heather Thomas, Heather L. Thomas

SURGE

This week we would like to recognize recent graduate and AmeriCorps VISTA volunteer Heather Thomas ’13, who is returning to Gettysburg as the fearless new coordinator for the Adams County Food Policy Council. [excerpt]

The Universal Savings Credit, Christian Weller, Sam Ungar

Public Policy and Public Affairs Faculty Publication Series

The financial crisis of 2007 to 2009 took a tremendous toll on household wealth and shattered the sense of financial security for millions of American families. American households lost more than $20 trillion in wealth (in 2012 dollars) in the Great Recession, and households still had $10 trillion less in wealth at the end of 2012 than they had before the crisis. This massive wealth decline contributed to a widespread loss of economic security, particularly among lower-income and moderate-income families, single women, and communities of color.

This economic insecurity can have long-ranging adverse effects on U.S. economic growth as American …

Research On Development Strategy Of Shipping Company B In The Shipping Industry Recession, Yunxuan Li

World Maritime University Dissertations

No abstract provided.