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2009

SelectedWorks

Econometrics

Articles 1 - 30 of 39

Full-Text Articles in Social and Behavioral Sciences

Event Studies In Finance: Discussion, Carlo Drago Dec 2009

Event Studies In Finance: Discussion, Carlo Drago

Carlo Drago

No abstract provided.


Ceo Compensation And Performance In Family Firms By Barontini And Bozzi: Discussion, Carlo Drago Dec 2009

Ceo Compensation And Performance In Family Firms By Barontini And Bozzi: Discussion, Carlo Drago

Carlo Drago

No abstract provided.


Competition-Based Environmental Policy: An Analysis Of Farmland Preservation In Maryland, John K. Horowitz, Lori Lynch, Andrew J. Stocking Nov 2009

Competition-Based Environmental Policy: An Analysis Of Farmland Preservation In Maryland, John K. Horowitz, Lori Lynch, Andrew J. Stocking

Andrew J Stocking

Policy makers have turned to competition-based voluntary-enrollment programs as a cost-effective way to achieve preferred land uses. This paper studies bidder behavior in an innovative auction-based program in which farmers compete to sell and retire the right to develop their land. We derive a reduced-form bidding model that includes private and common values. This model allows us to estimate the role of bidder competition, winner’s curse correction, and the underlying distribution of private values. We estimate that the auction enrolled as many as 3,000 acres (12%) more than a take-it-or-leave-it offer would have enrolled for the same budgetary ...


A Nation In Dilemma, Professor Issam A.W. Mohamed Aug 2009

A Nation In Dilemma, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

following the Global financial Crisis there were economic collapses in all the world. Sudan officials claimed that the country was immune from that epidemic. Such declaration were truly weird as it has been deeply affected from the first instant. That article presented many questions about the economic and social conditions and the eminent southern Sudan, Darfur crises.


Testing For Bid Affiliation In Repeated Second-Price Auctions With Posted Prices, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis, Beom Su Park Jul 2009

Testing For Bid Affiliation In Repeated Second-Price Auctions With Posted Prices, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis, Beom Su Park

Andreas Drichoutis

In repeated second-price experimental auctions, the winning bid is normally posted after each round. The posting of these winning prices after each round can result in bids submitted in later rounds to be affiliated with posted prices from earlier rounds. This paper introduces a formal test for bid affiliation in repeated second-price auctions with posted prices using a dynamic panel model. We then apply this test to formally check the presence of bid affiliation effects in three datasets used in previous studies.


Some Remarks On The Effects Of Active Labour Market Policies In Post-Transition, Joanna Tyrowicz, Piotr Wojcik Jul 2009

Some Remarks On The Effects Of Active Labour Market Policies In Post-Transition, Joanna Tyrowicz, Piotr Wojcik

Joanna Tyrowicz

Social cohesion is the principal goal behind active labour market policies (ALMPs), including those financed at supra-national level, like the European Social Fund. In this paper we use NUTS4 level data on the local labour market dynamics in an attempt to verify direct and indirect effects of ALMPs. We use data for 2000-2007 for Poland, while this period comprised both stark increases and reductions in the unemployment rates. Over this time also the financing of ALMPs has been increased considerably, transforming both to higher intensity of ALMPs (wider coverage) and higher extensiveness of these activities (increase in per treatment cost ...


Quantifying The Value Of Us Tariff Preferences For Developing Countries, Judith M. Dean, John Wainio Jul 2009

Quantifying The Value Of Us Tariff Preferences For Developing Countries, Judith M. Dean, John Wainio

Judith M Dean

In recent debates, trade preference erosion has been viewed by some as damaging to developing countries, and by others as insignificant, except in a few cases. However, little data have been available to back either view. The objective of this paper is to improve our measures of the size, utilization and value of all US non-reciprocal trade preference programs, in order to shed some light on this debate. Highly disaggregated data are used to quantify the margins, coverage, utilization and value of nonagricultural and agricultural tariff preferences, for all beneficiary countries in the US regional programs and in the GSP ...


The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed Jun 2009

The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The emergence of the Janjaweed as an armed force working with the government to suppress rebellions in Darfur region outraged the international community. They were marked by brutality, destruction, burning, killings and mass rapes. They were also described as Arabs. However, that was not the whole picture, no one observed the living conditions of the Arabs or how were they victims also as the other inhabitants of Darfur. No one also observed that they were used by the Ingaz government to execute the dirty work and bear the consequences. The Arab tribes however, also had other thoughts as they realized ...


Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed May 2009

Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Most developing and underdeveloped countries beside Sudan suffer from low levels of income in addition to the low savings that are result from the lack of public savings channels. Hence, investments depend on the individuals' abilities on savings where they are major motivating vehicle for economic activity due to its direct correlation with capital accumulation process that increases the productive capacity for the national economy and help to create job opportunities and achieving economic development. Subsequently, the importance of the investment comes from the effective role that can be practiced on the national product. Currently, Sudan endures severe economic crisis ...


Charitable Memberships, Volunteering, And Discounts: Evidence From A Large-Scale Online Field Experiment, Andreas Lange, Andrew J. Stocking May 2009

Charitable Memberships, Volunteering, And Discounts: Evidence From A Large-Scale Online Field Experiment, Andreas Lange, Andrew J. Stocking

Andrew J Stocking

Despite the increasing use by charities, significant uncertainty exists about optimal online fundraising mechanisms, especially when large donor pools show substantial heterogeneities. We use an online natural field experiment with over 700,000 subjects to test theory on price discounts and show large differences in donation behavior between donors who have previously given money and/or volunteered. For example, framing the charity’s membership price as a discount increases response rates and decreases conditional contributions from former volunteers, but not from past money donors. Our study thereby demonstrates the importance of conditioning fundraising strategies on the specifics of past donation ...


Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed Apr 2009

Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The United States declared Sudan as a rogue country in 1995 due to many political considerations. It has imposed many economic and political sanctions against it since that time which represented hindrance to development and resulted in economic crises. Oil explorations started long time by Total Oil Company and resumed by Chevron that halted her activities in Sudan after the flaring of the civil war between the Northern and Southern parts of the country. That work was resumed in 1996 by Chinese companies and was crowned by success and commercial production in 1999. Although the economic situations of Sudan improved ...


Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed Apr 2009

Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The institutional collapse in Sudan started long time ago. However, it has accelerator in the past years since Nivasha Comprehensive Peace Agreement and Darfur war.


Exploring Persistence In The Forward Rate Series, Derek Bond Feb 2009

Exploring Persistence In The Forward Rate Series, Derek Bond

Derek Bond

This presentation reviews the use of tests for non-linearity based on semi-parametric estimates of the fractional difference parameter


Testing For Bid Affiliation In Repeated Second-Price Auctions With Posted Prices, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis, Beom Su Park Jan 2009

Testing For Bid Affiliation In Repeated Second-Price Auctions With Posted Prices, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis, Beom Su Park

Andreas Drichoutis

In repeated second-price experimental auctions, the winning bid is normally posted after each round. The posting of these winning prices after each round can result in bids submitted in later rounds to be affiliated with posted prices from earlier rounds. This paper introduces a formal test for bid affiliation in repeated second-price auctions with posted prices using a dynamic panel model. We then apply this test to formally check the presence of bid affiliation effects in three datasets used in previous studies.


Can Nutritional Label Use Influence Body Weight Outcomes?, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis Jan 2009

Can Nutritional Label Use Influence Body Weight Outcomes?, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis

Andreas Drichoutis

Nutritional labeling has been of much interest to policy makers and health advocates due to rising obesity trends. So can nutritional label use really help reduce body weight outcomes? This study evaluates the impact of nutritional label use on body weight using the propensity score matching technique. We conducted a series of tests related to variable choice of the propensity score specification, quality of matching indicators, robustness checks, and sensitivity to unobserved heterogeneity using Rosenbaum bounds to validate our propensity score exercise. Our results generally suggest that nutritional label use does not affect body mass index. Implications of our findings ...


Nutritional Label Use, Body Weight Outcomes And Self Selectivity: A Propensity Score Matching Approach, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis Jan 2009

Nutritional Label Use, Body Weight Outcomes And Self Selectivity: A Propensity Score Matching Approach, Andreas Drichoutis, Rodolfo M. Nayga, Panagiotis Lazaridis

Andreas Drichoutis

No abstract provided.


Body Weight Outcomes And Food Expenditures Among Older Europeans: A Simultaneous Equation Approach, Andreas C. Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga Jan 2009

Body Weight Outcomes And Food Expenditures Among Older Europeans: A Simultaneous Equation Approach, Andreas C. Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga

Andreas Drichoutis

No abstract provided.


Body Weight Outcomes And Food Expenditures Among Older Europeans: A Simultaneous Equation Approach, Andreas C. Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga Jan 2009

Body Weight Outcomes And Food Expenditures Among Older Europeans: A Simultaneous Equation Approach, Andreas C. Drichoutis, Panagiotis Lazaridis, Rodolfo M. Nayga

Andreas Drichoutis

We analyze the inter-relationships between body weight outcomes and food expenditures among older Europeans using a simultaneous equation model. Several statistical tests were conducted to assess endogeneity of selected variables, the exogeneity, relevance, and validity of instruments used, and the identification of the model. Our results generally suggest, contrary to normative views, that food-away-from-home expenditure is negatively related to body mass index (BMI). BMI is negatively related to the percentage of food spent away from home.


Regional Unemployment Dynamics In Poland. A Convergence Approach, Joanna Tyrowicz, Piotr Wojcik Jan 2009

Regional Unemployment Dynamics In Poland. A Convergence Approach, Joanna Tyrowicz, Piotr Wojcik

Joanna Tyrowicz

In this paper we approach the regional unemployment dynamics in Poland. Using policy relevant NUTS4 level data for 1999 till 2006 we employ tools typically applied to income convergence analyses to inquire the patterns of unemployment distribution. We apply diverse analytical techniques to seek traces of convergence, including beta and sigma convergence as well as pass-through analysis.

We demonstrate that it is highly stable over time, while only weak "convergence of clubs" is supported by the data and only for the high unemployment regions. Results suggest no support in favour of beta-type convergence, i.e. convergence of levels. Even controlling ...


How Much Es In Csr, Anna Sienicka, Joanna Tyrowicz Jan 2009

How Much Es In Csr, Anna Sienicka, Joanna Tyrowicz

Joanna Tyrowicz

This paper approaches the problem of CSR in the context of social economy development in New Member States at the example of Poland. We explore the opportunities for companies to engage into socially beneficial undertakings with direct rather than indirect economic advantages. Namely, we demonstrate to what extent currently existing legal regulations enable bridging the world of civil society institutions with corporate world.

We suggest that even without specialized instruments adopted and implemented by CEECs governments, innova- tive inclusion solutions developed by civil society organizations may actually provide suficient incentives for companies in new member states to develop CSR. We ...


Exogenous Coalition Formation In The E-Marketplace Based On Geographical Proximity, Tomasz Michalak, Joanna Tyrowicz, Peter Mcburney, Michael Wooldridge Jan 2009

Exogenous Coalition Formation In The E-Marketplace Based On Geographical Proximity, Tomasz Michalak, Joanna Tyrowicz, Peter Mcburney, Michael Wooldridge

Joanna Tyrowicz

This paper considers a model for exogenous coalition formation in e-marketplaces. Using its informational advantage, an e-retailer creates coalitions of customers based on geographical proximity. Most of the literature regards this process as endogenous: a coalition leader among the buyers bundles eventual purchases together in order to obtain a better bargaining position. In contrast – and in response to what is typically observed in business practice – we analyse a situation in which an existing e-retailer exogenously forms customers’ coalitions. Results of this study are highly encouraging. Namely, we demonstrate that even under highly imperfect warehouse management schemes leading to contagion effects ...


Unemployment Convergence In Transition, Joanna Tyrowicz, Piotr Wojcik Jan 2009

Unemployment Convergence In Transition, Joanna Tyrowicz, Piotr Wojcik

Joanna Tyrowicz

In this paper an attempt is made to inquire the dynamics of regional unemployment rates in transition economies. We use policy relevant NUTS4 unemployment rates for transition economies characterised by both relatively intense (Poland, Slovaka) and relatively mild labour market hardships (Czech Republic). We apply diverse analytical techniques to seek traces of convergence, including beta- and sigma-convergence as well as time-series approach.

Transition economies typically experienced rapid growth of the unemployment rates due to profound restructuring. Naturally, these processes affected local labour markets asymmetrically, since regions were diversified with respect to industry composition and economic outlooks. Results in each of ...


Foreign Debt And Domestic Savings In Developing Countries, Luke Okafor, Joanna Tyrowicz Jan 2009

Foreign Debt And Domestic Savings In Developing Countries, Luke Okafor, Joanna Tyrowicz

Joanna Tyrowicz

This paper approaches the question of potential causality between foreign debt and domestic savings in the context of developing countries. Literature provides evidence in as far as foreign debt and development is concerned, but little attention was given so far to internal potential for capital formation. We provide a theoretical framework and test its relevance using 1975-2004 data for two groups of countries: sub-Saharan Africa and Latin America with the Caribbean. With the use of instrumental variables we find negative impact of foreign debt on domestic savings especially in the long run. The results are not susceptible to the choice ...


Is The Impact Really That High? The Effect Of Fdi In Transition, Jan Hagemejer, Joanna Tyrowicz Jan 2009

Is The Impact Really That High? The Effect Of Fdi In Transition, Jan Hagemejer, Joanna Tyrowicz

Joanna Tyrowicz

Literature is not clear on the effect of FDI on the economic performance in hosting countries. The analysed eects include productivity, propensity to export, access to financial markets, etc. Although foreign subsidiaries usually perform better than the average of the hosting economies, sometimes the selection eect is found to be considerable. The analysed eects In this paper we use a unique dataset based on accounting annual reports to the statistical authorities by all medium and large Polish enterprises over a period 1997-2006. We apply a propensity score matching technique to disentangle the effect of self-selection and FDI entry (treatment). We ...


When Eastern Labour Markets Enter Western Europe - Ceecs Labour Market Institutions Upon Euro Zone Accession, Joanna Tyrowicz Jan 2009

When Eastern Labour Markets Enter Western Europe - Ceecs Labour Market Institutions Upon Euro Zone Accession, Joanna Tyrowicz

Joanna Tyrowicz

This paper reviews the literature on the labour market institutions in European Union Member States in the context of monetary integration. Traditionally, labour markets are a key concept in the optimal currency area theory, playing the role of the only accommodation mechanism of asymmetric shocks after the monetary unification. There are several theoretical frameworks linking the institutional design of the labour market to the potential effectiveness of monetary policy in the context of currency areas. Many empirical studies addressed these issues too, yielding important policy implications for labour market reforms in the process of monetary unification. However, there seem to ...


Nonlinear Stochastic Convergence Analysis Of Regional Unemployment Rates In Poland, Joanna Tyrowicz, Piotr Wojcik Jan 2009

Nonlinear Stochastic Convergence Analysis Of Regional Unemployment Rates In Poland, Joanna Tyrowicz, Piotr Wojcik

Joanna Tyrowicz

This paper analyzes convergence of unemployment rates in Poland at NUTS4 level by testing nonlinear convergence, applying the modified KSS-CHLL for each pair of territorial units. The results suggest that actually the convergence is a rare phenomenon and occurs only in 1916 cases out of potential over 70 000 combinations. This paper inquires what systematic reasons contribute to this phenomenon.

There are some circumstances under which unemployment convergence should be more awaited than in the others. These include sharing a higher level territorial authority, experiencing similar labour market hardship or sharing the same structural characteristics. For each of these three ...


Blame No One? Investment Decisions Of The Polish Stock-Listed Companies, Joanna Tyrowicz Jan 2009

Blame No One? Investment Decisions Of The Polish Stock-Listed Companies, Joanna Tyrowicz

Joanna Tyrowicz

It is often raised that enterprises in transition countries are cursed with credit constraints and insufficient capital. Regardless of whether this belief holds for the whole of the economy, the Agency Theory provides a useful both theoretical and empirical framework helping to verify the efficiency of investment decisions in case of companies for which 'objective' future cash-flow valuation is available. The assertion of managerial discretion has been verified empirically for many different countries with the analytical background provided by user cost of capital and Tobin's Q theories. This paper’s contribution is the analysis of the Polish stock-listed companies ...


Labour Market Racial Discrimination In South Africa Revisited, Joanna Tyrowicz, Maciej Szelewicki Jan 2009

Labour Market Racial Discrimination In South Africa Revisited, Joanna Tyrowicz, Maciej Szelewicki

Joanna Tyrowicz

Discrimination is a significant issue in labour market economics across developed as well as developing countries. In this paper we inquire the actual size of wage discrimination in the Republic of Soutn Africa, accounting for large differences in endowments. We apply the Oaxaca-Blinder decomposition as well as propensity score matching to adequately determine the size of the pay gap. Although the size of the absolute racial pay gap is enormous, amounting for more than 500%, the actual estimated effect non-attributable to other factors ranges between 45%-55%. This estimator however assumes homogenous discrimination across the wage distribution, while data suggest ...


(In)Efficiency Of Matching - The Case Of A Post-Transition Economy, Joanna Tyrowicz, Tomasz Jeruzalski Jan 2009

(In)Efficiency Of Matching - The Case Of A Post-Transition Economy, Joanna Tyrowicz, Tomasz Jeruzalski

Joanna Tyrowicz

This paper approaches the question of efficiency in job placement using regional data for Polish regions (policy relevant NUTS 4 level) over the time span of 2000-2008. Using a unique data set we estimate the matching function using stochastic frontier as well as difference-in-difference estimators. We use also managed to combine this unique data set with another unique source of data on the ALMPs

coverage, unemployment structure across time and regions as well as the individual capacity of local labour offices. We use these data to explain the exceptional variation in estimated efficiency scores.

Our findings suggest that matching abilities ...


Financial Distress And Idiosyncratic Volatility: An Empirical Investigation, Lorán Chollete, Jing Chen, Rina Ray Jan 2009

Financial Distress And Idiosyncratic Volatility: An Empirical Investigation, Lorán Chollete, Jing Chen, Rina Ray

Lorán Chollete

No abstract provided.