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1997

Economics

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Articles 1 - 30 of 37

Full-Text Articles in Social and Behavioral Sciences

Trends. Globalization As Old Wine In New Bottles: The 30th Anniversary Of The Association Of Southeast Asian Nations (Asean), Editor Dec 1997

Trends. Globalization As Old Wine In New Bottles: The 30th Anniversary Of The Association Of Southeast Asian Nations (Asean), Editor

International Bulletin of Political Psychology

The author discusses the new era of globalization.


Trends. International Trade And The Subversion Of Justice: Japan, The European Union, And Iraq, Editor Dec 1997

Trends. International Trade And The Subversion Of Justice: Japan, The European Union, And Iraq, Editor

International Bulletin of Political Psychology

The author discusses the moral philosophy, the psychology of moral judgment, and treatises on law often suggest that justice subsumes some combination of behavioral and intentional accountability and equity.


Trends. The Kyoto Protocol: Emissions On Trading Or Purchasing Emissions Rights, Editor Dec 1997

Trends. The Kyoto Protocol: Emissions On Trading Or Purchasing Emissions Rights, Editor

International Bulletin of Political Psychology

In this analysis, the author discusses the Kyoto Protocol.


Trends. Globalization And The Ugly American: "Fast-Track", Cuba, Libya, And Iran, Editor Nov 1997

Trends. Globalization And The Ugly American: "Fast-Track", Cuba, Libya, And Iran, Editor

International Bulletin of Political Psychology

The author discusses globalization and the rise in salience of the Ugly American.


Euro-Psychology: When Money Is More Than Money Oct 1997

Euro-Psychology: When Money Is More Than Money

International Bulletin of Political Psychology

This article describes some psychological roles of money and the import of these roles for domestic and international economics. The coming of the euro is used as an example.


Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell Oct 1997

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.


Trends. Blowing The Perfect Cover: The Trials Of Mexico's Former Drug Czar Aug 1997

Trends. Blowing The Perfect Cover: The Trials Of Mexico's Former Drug Czar

International Bulletin of Political Psychology

The author discusses the aspects of General Jesus Gutierrez Rebollo's civilian and military trials concerning his alleged illegal involvement in illicit drug trafficking.


How Not To Prevent Oil Crises: Challenge For An Education President Aug 1997

How Not To Prevent Oil Crises: Challenge For An Education President

International Bulletin of Political Psychology

This article describes several problematic approaches that are components of lay psychology.


Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor Aug 1997

Monetary Policy Preferences Of Individual Fomc Members: A Content Analysis Of The Memoranda Of Discussion, Henry W. Chappell Jr., Thomas M. Havrilesky, Rob Roy Mcgregor

Faculty Publications

The Memoranda of Discussion provide detailed records of Federal Open Market Committee (FOMC) meeting deliberations. Procedures are developed for coding the textual data in the Memoranda and assessing the reliability of those codings. The codings are then used in the estimation of parameters of individual FOMC members' reaction functions. Data from the 1970 to 1976 period are employed in the estimation. In the future, similar methods could be used to analyze newly released transcripts of FOMC meetings held after 1976.


A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky Aug 1997

A Study Of The Stochastic Behavior Of Durable Goods Consumption, Alexander Lebedinsky

Masters Theses & Specialist Projects

The author of this thesis examines the stochastic behavior of durables consumption in the rational expectations/permanent income hypothesis framework. The testing in this paper parallels the studies conducted by other researchers, who basing their work mainly on quarterly data rejected the frictionless rational expectations/permanent income hypothesis. The distinctive feature of this thesis is that the models are examined using monthly instead of quarterly data. The results of the estimation are compared to the results based on quarterly data. The results show that estimates obtained using monthly data seem to be more consistent with the frictionless rational expectations/permanent ...


Restructuring Of The Electric Utility Industry: Free Markets And Environmental Protection, Rick Gilliam Jun 1997

Restructuring Of The Electric Utility Industry: Free Markets And Environmental Protection, Rick Gilliam

Dams: Water and Power in the New West (Summer Conference, June 2-4)

12 pages.

Contains 1 page of references.


Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack Mar 1997

Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack

Economics Faculty Publications

Adam Smith's definition of justice as a moral virtue based on the "passion" of resentment in 'The Theory of Moral Sentiments' (1759), despite seeming contradictions, supports his analysis of an acquisitive, commercial society in 'The Wealth of Nations' (1774) partly by precluding the concept of a just price.


Relativism, Reflective Equilibrium, And Justice, Justin Schwartz Jan 1997

Relativism, Reflective Equilibrium, And Justice, Justin Schwartz

Justin Schwartz

THIS PAPER IS THE CO-WINNER OF THE FRED BERGER PRIZE IN PHILOSOPHY OF LAW FOR THE 1999 AMERICAN PHILOSOPHICAL ASSOCIATION FOR THE BEST PUBLISHED PAPER IN THE PREVIOUS TWO YEARS.

The conflict between liberal legal theory and critical legal studies (CLS) is often framed as a matter of whether there is a theory of justice that the law should embody which all rational people could or must accept. In a divided society, the CLS critique of this view is overwhelming: there is no such justice that can command universal assent. But the liberal critique of CLS, that it degenerates into ...


Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton Jan 1997

Nondisclosure As A Contract Remedy: Explaining The Advance-Notice Puzzle, John T. Addison, John B. Chilton

Faculty Publications

Prior theoretical work predicts an underprovision of advance-notice contracts stemming from their enforcement costs. In the present model, it is rather the fundamental inability of workers to alienate their right to quit taken in conjunction with parameters central to job separation decisions that jointly determine the mix of notice and no-notice contracts observed in equilibrium. Not all equilibrium contracts are efficient, but there is no underprovision of notice. Mandating notice cannot improve on joint value and indeed may reduce it. Furthermore, although a mandate can be merely redistributive, there are cases in which it harms all parties.


Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell Jan 1997

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part One), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.


Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese Jan 1997

Price Theory And Vertical Restraints: A Misunderstood Relation, Alan J. Meese

Faculty Publications

The Chicago School of antitrust analysis has exerted a strong influence over the law of vertical restraints in the past two decades, leading the Supreme Court to abandon much of its traditional hostility toward such agreements. Chicago's success has provoked a vigorous response from Populists, who support the traditional approach. Chicago, Populists claim, has improperly relied upon neoclassical price theory to inform the normative and descriptive assumptions that drive its analysis of trade restraints generally and of vertical restraints in particular. This reliance is misplaced, Populists assert, because the real world departs from that portrayed by price-theoretic models and ...


Dividends, Noncontractibility, And Corporate Law, William W. Bratton Jan 1997

Dividends, Noncontractibility, And Corporate Law, William W. Bratton

Faculty Scholarship at Penn Law

No abstract provided.


Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin Jan 1997

Nest Eggs And Stormy Weather: Law, Culture, And Black Women's Lack Of Wealth, Regina Austin

Faculty Scholarship at Penn Law

No abstract provided.


The Effect Of Three Factors On Social Security Old-Age And Survivors Insurance (Oasi) Benefits: Earnings, Mortality, And The Consumer Price Index, Hung-Tai Lin Jan 1997

The Effect Of Three Factors On Social Security Old-Age And Survivors Insurance (Oasi) Benefits: Earnings, Mortality, And The Consumer Price Index, Hung-Tai Lin

Retrospective Theses and Dissertations

Earnings are found to be higher for Whites relative to Nonwhites, for males relative to females. OASDI, with its formula based on earnings history, tends to compound the benefit differences, although the structure does provide proportionately larger returns for those at lower earnings levels. But the disparity between the Social Security benefits of Whites and Blacks, and between males and females, remains large. In addition, mortality rates were found to be higher for Nonwhites relative to Whites, for males relative to females, and for the less educated relative to the more educated. Some of researchers pointed out that differential mortality ...


Aggregation Over Commodities: An Application Of The Generalized Composite Commodity Theory In A Us Food Demand System Analysis, Yanrong Wang Jan 1997

Aggregation Over Commodities: An Application Of The Generalized Composite Commodity Theory In A Us Food Demand System Analysis, Yanrong Wang

Retrospective Theses and Dissertations

No abstract provided.


Generalized Corner Solution Models In Recreation Demand , Daniel James Phaneuf Jan 1997

Generalized Corner Solution Models In Recreation Demand , Daniel James Phaneuf

Retrospective Theses and Dissertations

When examining consumer behavior using household level data, it is typical in many applications to find that consumers consume only a subset of the available goods, setting their demand to zero for the remaining goods. Examples of this include labor supply and food demand, as well as the demand for Leisure Studies; In multiple site recreation demand data sets, one usually observes that individuals visit only a subset of the available recreation sites, yet visit these sites multiple times during a season. Theoretically, these corner solutions are effectively modeled using non-negativity constraints in the utility maximization problem. Empirically estimating such ...


Credibility Of Economic Reform And Foreign Direct Investment In The Former Soviet Union Region , Yuri Y. Yermakov Jan 1997

Credibility Of Economic Reform And Foreign Direct Investment In The Former Soviet Union Region , Yuri Y. Yermakov

Retrospective Theses and Dissertations

Economic transition from socialist to market-based economy has been the subject of intense economic research in the last two decades. However, there are very few publications that address the transitional issues from the traditional microeconomics theory prospective. This dissertation focuses on several transitional issues. The first topic is: what is the economic nature and major characteristics of economic reform? Secondly, the dissertation focuses on the relationship between the government and private sector in the reform environment. In the end, the focus of the dissertation shifts to the question of economic reform credibility and of finding the most efficient ways to ...


Gatt, Dispute Settlement And Cooperation: A Reply, Dan Kovenock, Marie Thursby Jan 1997

Gatt, Dispute Settlement And Cooperation: A Reply, Dan Kovenock, Marie Thursby

Economics Faculty Articles and Research

In our 1992 paper, we analyzed GATT and its dispute settlement procedure (DSP) in the context of a supergame model of international trade featuring both explicit (GATT) and implicit (non-GATT) agreements. Our paper departed from the previous economics literature on GATT enforcement (see, for instance Hungerford (1991) and Ludema (1990)) by incorporating the ``twin engines of international obligation and retaliation'' (Hudec, 1990). International obligation imposed a cost of violating an explicit international agreement, such as GATT, while retaliation could take place either within the rules stipulated by the international agreement or by punishment outside of the agreement. In Section 2 ...


Social Security Trust Fund (Sstf), The Government Fiscal Use Of The Sstf, And Intergenerational Equity , Jae Kyeong Kim Jan 1997

Social Security Trust Fund (Sstf), The Government Fiscal Use Of The Sstf, And Intergenerational Equity , Jae Kyeong Kim

Retrospective Theses and Dissertations

In this dissertation we pay particular attention to changing share of unfunded and fully funded SS systems and to the alternative government fiscal policies regarding the use of the social security trust fund (SSTF) in order to investigate the resulting economic and intergenerational equity consequences. To carry out this investigation, we develop a computational two periods lived overlapping generations model with production in which a wide range of possible SS arrangements and possible government fiscal uses of the SSTF are incorporated in parameterized form. The parameterization of the SS system permits the comparative dynamic study of a family of SS ...


Corn And Soybean Basis Behavior And Forecasting: Fundamental And Alternative Approaches , Bingrong Jiang Jan 1997

Corn And Soybean Basis Behavior And Forecasting: Fundamental And Alternative Approaches , Bingrong Jiang

Retrospective Theses and Dissertations

A model is developed to analyze the nearby basis behavior of corn and soybeans in several markets across the U.S. Results suggest that basis behavior has a seasonal pattern, and that different variables affect nearby corn and soybean basis at various periods. The most important factors affecting basis are storage cost (opportunity cost), transportation cost (barge rates), and supply (regional production relative to regional storage capacity). Nine conventional (naive three-year-average forecasts, econometric, ARIMA and composite forecast models) and less conventional forecasting techniques (State Space and Neural Networks models) are utilized to forecast out-of-sample basis for one-month up to 12-month ...


Econometric Analysis Of Measurement Error In Panel Data , Elizabeth Martha Paterno Jan 1997

Econometric Analysis Of Measurement Error In Panel Data , Elizabeth Martha Paterno

Retrospective Theses and Dissertations

Panel data consist of measurements taken from several individuals over time. Correlation among measurements taken from the same individual are often accounted for using random effect and random coefficient models. Panel data analysis that accounts for measurement error in the explanatory variables has not been thoroughly studied. This dissertation investigates statistical issues associated with two types of measurement error models for panel data;The first paper considers identification and estimation of a random effect model when some explanatory variables are measured with error. Here, individual heterogeneity is assumed to be manifested in intercepts that randomly differ across individuals. Identification of ...


Statistical Analysis Of Foreign Exchange Rates: Application Of Cointegration Model And Regime-Switching Stochastic Volatility Model , Koji Kondo Jan 1997

Statistical Analysis Of Foreign Exchange Rates: Application Of Cointegration Model And Regime-Switching Stochastic Volatility Model , Koji Kondo

Retrospective Theses and Dissertations

The dissertation discusses an application of two statistical models to foreign exchange rate data and consists of two main parts. The first part is an application of the partial cointegration model developed by Johansen (1990) and uses the concept of weak exogeneity. While a direct application of the cointegration approach with many variables is not easy to handle, the partial model can reduce the number of the parameters to be estimated by identifying weakly exogenous variables. The method is illustrated utilizing a theoretical long-run model based on Dornbusch's sticky price model. The small country assumption is relaxed to that ...


A Spatial Econometric Model For Transboundary Air Pollution Control Treaties: An Analysis Of Noncooperative International Behavior , Keith Allen Sargent Jan 1997

A Spatial Econometric Model For Transboundary Air Pollution Control Treaties: An Analysis Of Noncooperative International Behavior , Keith Allen Sargent

Retrospective Theses and Dissertations

This dissertation develops a theoretical model that explains differences in emission reductions of transboundary air pollutants among nations based on national income, political freedom, the cost of emission reductions, emissions from other countries, the type of pollutant, and the pollutant's dispersion characteristics. The model is based on the theory of the private provision of impure public goods. This theoretical model is then used to derive a reduced form demand equation for emission reductions that can be econometrically estimated using spatial autoregressive techniques for time-series cross-section data;The econometric model is applied to 25 European nations and covers the period ...


Individual And Aggregate Demand For Higher Education: The Role Of Strategic Scholarships , Darin Ray Wohlgemuth Jan 1997

Individual And Aggregate Demand For Higher Education: The Role Of Strategic Scholarships , Darin Ray Wohlgemuth

Retrospective Theses and Dissertations

Undergraduate enrollment increased over 50 percent nationally from 1973 to 1994. The proportion of high school graduates enrolling in college increased from 46.6 to 61.9 percent. These increases occurred despite increases in real tuition prices since 1985, constant (nominal) levels of federal Pell grants per recipient, and declining numbers of high school graduates. This dissertation examines the admitted applicant's decision to enroll and aggregate (state/county) enrollment at a large public institution;The aggregate enrollment model investigates the extent to which national trends in enrollment can be captured within the context of a model of enrollment demand ...


Economic And Financial Analysis Of Large Scale Closed Cooperative Swine Production Under Uncertainty In Iowa, Michael Charles Poray Jan 1997

Economic And Financial Analysis Of Large Scale Closed Cooperative Swine Production Under Uncertainty In Iowa, Michael Charles Poray

Retrospective Theses and Dissertations

This research evaluates the opportunities for small grain farmers in Iowa to organize a joint large scale swine production operation. Different business organizational structures' legal and tax implications are examined for a joint large scale production operation. Based on the suitability from reviewing current the legal and tax regulations, the closed (defined membership) cooperative was selected as the organizational business structure for the proposed group of small grain farmers. The returns from establishing closed cooperatives owned by grain producers to produce hogs in Iowa are evaluate. Using a computer simulated production model incorporating both biological and price factors, the uncertainty ...