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An Evaluation Of The State Of Iowa Revenue Forecasts, 1995 – 2017, Peter F. Orazem 2017 Iowa State University

An Evaluation Of The State Of Iowa Revenue Forecasts, 1995 – 2017, Peter F. Orazem

Economics Working Papers

A critical task in establishing the State of Iowa budget is to project available tax revenue. The 2017 fiscal year was characterized by tax revenues that did not live up to predictions, leading to midyear cuts in planned government expenditures and tapping into reserves. That experience raises the question of whether the Iowa state government revenue forecasts are faulty. Are revenue shortfalls avoidable through improved forecasts or are occasional shortfalls inevitable with even the best statistical predictions? I will show that the Iowa government revenue forecasts pass the standard tests of unbiasedness and rationality, meaning that they are not obviously ...


The Progressives: Racism And Public Law, Herbert J. Hovenkamp 2017 University of Pennsylvania Law School

The Progressives: Racism And Public Law, Herbert J. Hovenkamp

Faculty Scholarship at Penn Law

American Progressivism inaugurated the beginning of the end of American scientific racism. Its critics have been vocal, however. Progressives have been charged with promotion of eugenics, and thus with mainstreaming practices such as compulsory housing segregation, sterilization of those deemed unfit, and exclusion of immigrants on racial grounds. But if the Progressives were such racists, why is it that since the 1930s Afro-Americans and other people of color have consistently supported self-proclaimed progressive political candidates, and typically by very wide margins?

When examining the Progressives on race, it is critical to distinguish the views that they inherited from those that ...


The Geopolitics Of Rare Earth Elements: Emerging Challenge For U.S. National Security And Economics, Bert Chapman 2017 Purdue University

The Geopolitics Of Rare Earth Elements: Emerging Challenge For U.S. National Security And Economics, Bert Chapman

Libraries Faculty and Staff Scholarship and Research

Rare earth elements (REE) contain unique chemical and physical properties such as lanthanum, are found in small concentrations, need extensive precise processes to separate, and are critical components of modern technologies such as laser guidance systems, personal electronics such as IPhones, satellites, and military weapons systems as varied as Virginia-class fast attack submarines, DDG- 51 Aegis destroyers, the F-35 Joint Strike Fighter, and precision guided munitions. The U.S. has some rare earth resources, but is heavily dependent on access to them from countries as varied as Afghanistan, Bolivia, and China. Losing access to these resources would have significant adverse ...


Essays On Inequality And Macroeconomic Stability, Thomas Hauner 2017 The Graduate Center, City University of New York

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

All Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an economy with ...


Robust Linear Static Panel Data Models Using Ε-Contamination, Badi H. Baltagi, Georges Bresson, Anoop Chaturvedi, Guy Lacroix 2017 Syracuse University

Robust Linear Static Panel Data Models Using Ε-Contamination, Badi H. Baltagi, Georges Bresson, Anoop Chaturvedi, Guy Lacroix

Center for Policy Research

The paper develops a general Bayesian framework for robust linear static panel data models using ε-contamination. A two-step approach is employed to derive the conditional type-II maximum likelihood (ML-II) posterior distribution of the coefficients and individual effects. The ML-II posterior means are weighted averages of the Bayes estimator under a base prior and the data-dependent empirical Bayes estimator. Two-stage and three stage hierarchy estimators are developed and their finite sample performance is investigated through a series of Monte Carlo experiments. These include standard random effects as well as Mundlak-type, Chamberlain-type and Hausman-Taylor-type models. The simulation results underscore the relatively good ...


Privately Issued Money In The Us, Matthew Jaremski 2017 Colgate University

Privately Issued Money In The Us, Matthew Jaremski

Economics Faculty Working Papers

In recent years, there has been a revival of privately issued money. Due to the general lack of successful or even widely circulating private currency, it can be challenging to get a clear view of its efficiency using modern data. The U.S. historical period, however, offers a unique environment to examine the topic as private bank money made up a sizable portion of the money supply. Moreover, the period presents a wide range of regulation, including spans with and without the presence of a central bank or monetary authority. This chapter begins by highlighting the general history of privately ...


The New American Slavery: Capitalism And The Ghettoization Of American Prisons As A Profitable Corporate Business, David A. Liburd 2017 The Graduate Center, City University of New York

The New American Slavery: Capitalism And The Ghettoization Of American Prisons As A Profitable Corporate Business, David A. Liburd

All Dissertations, Theses, and Capstone Projects

The labor of enslaved Africans and Black Americans played a large part in the history of colonial America, with the American plantation being the epicenter for all that was to be produced. While the two have never been completely tied together, capitalism and modern day slavery have been linked with one another. Some analysis sees slavery as a remote form of capitalism, a substitute, to an antiquated form of labor in the modern world.

Slave plantations adopted a new concentration in size and management, referred to by W.E. DuBois as a change "from a family institution to an industrial ...


The Bracero Program In The Arkansas Delta: The Power Held By Planter Elite, William Chase Whittington 2017 University of Arkansas, Fayetteville

The Bracero Program In The Arkansas Delta: The Power Held By Planter Elite, William Chase Whittington

Theses and Dissertations

This paper examines the Bracero Program and its implementation from the start of World War II to the end of the program in 1964. Farmers and planters in America needed a sufficient labor supply once the war started, and Mexico became the main supplier. The Bracero Program was initiated as a war effort and meant to only last until the end of the war, but the planter elite had far different intentions once they realized how productive and inexpensive the program could be. This paper identifies the leading causes for how the Bracero Program was able to last over twenty ...


Eartha M. M. White Collection Container List, Thomas G. Carpenter Library Special Collections and University Archives 2017 University of North Florida

Eartha M. M. White Collection Container List, Thomas G. Carpenter Library Special Collections And University Archives

Finding Aids and Container Lists

Personal correspondence, documents, notes, memorabilia, printed materials and photographs. Notable materials include numerous photographs chronicling twentieth century black history in Jacksonville and historical photographs of urban Jacksonville. Included in the collection are the photographs of R. Lee Thomas, a black photographer active in the early twentieth century in the southern United States. Thomas' work covers primarily southern black religious and labor groups, circa 1946-49.


The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell 2017 James Madison University

The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell

Middle Eastern Communities and Migrations Student Research Paper Series

The inflationary pressures of the Price Revolution had an impact on Ottoman agricultural organization, state finances, industry, and the growth of corruption. This analysis will examine the causes, effects, and scope of inflation in the sixteenth century. Inflation alone did not cause these drastic changes, as other very significant developments also contributed to the turbulent economic environment. However inflation did, in fact, influence many basic transformations, including shifts in wealth, power, and the enrichment of specific social classes at the expense of others.


The Impact Of Wealth And Sentiment On Consumption: Before And After The Great Recession, Joshua Schwartz 2017 Union College - Schenectady, NY

The Impact Of Wealth And Sentiment On Consumption: Before And After The Great Recession, Joshua Schwartz

Honors Theses

I study the impact of consumer sentiment and the wealth effect on aggregate U.S. consumption before and after the Great Recession. First I will introduce a background of the 2008 financial crisis and some major factors leading up to it. I will discuss both the Michigan Consumer Sentiment index as well as the Conference Board's Consumer Confidence index. I will also discuss several measures of net worth relevant for my study. Second I will discuss the relevant literature and the main findings that correspond to my thesis. Third I will present the methodology used for my thesis and ...


Everybody Wants To Belong: Comparing The Relative Impact Of Social Capital On Happiness At An International Level, Elana Lambert 2017 Lawrence University

Everybody Wants To Belong: Comparing The Relative Impact Of Social Capital On Happiness At An International Level, Elana Lambert

Lawrence University Honors Projects

Subjective well-being has become increasingly more important as a guide for policy and welfare. This paper uses data from the World Bank Indicators and the World Values Survey to look at the intricate relationship between subjective well-being data, social capital, and the relative nature of human happiness. Subjective well-being data has recently become widely accepted in economics research and analyzed using econometric methods. In this study, I look at specific aspects of social capital across countries to easily compare individuals within countries with a standardized scale. I look at economic determinants and social capital determinants and their impact on happiness ...


Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos 2017 Ursinus College

Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos

Business and Economics Faculty Publications

Illinois had a dismal free banking experience, with over 80% of its free banks failing by the start of the Civil War. Researchers agree that a dramatic change in bond prices was the catalyst, and some have shown that the riskiest banks, ex ante, were the most likely to fail. This study examines how Illinois free banks adjusted their portfolios in the face of increased political and financial risks prior to Abraham Lincoln’s election as president. Lincoln’s nomination in May 1860 and the Democratic Party schism in June 1860 raised the likelihood of secession and the potential for ...


Broken Glass: The Decline Of Corporate Paternalism And Welfare Capitalism, A Critical Analysis Of One Company’S Systematic Socio-Economic Metamorphosis, Doug Bruno 2017 Northern Michigan University

Broken Glass: The Decline Of Corporate Paternalism And Welfare Capitalism, A Critical Analysis Of One Company’S Systematic Socio-Economic Metamorphosis, Doug Bruno

Conspectus Borealis

No abstract provided.


Blade Runner And The Divine Menace, Alexander W. Pickens 2017 James Madison University

Blade Runner And The Divine Menace, Alexander W. Pickens

MAD-RUSH Undergraduate Research Conference

Following the decline of Christianity in mainstream Western culture, a void rose in the moral and societal code. Those writers that emerged presented alternate visions that worked their way into the literature of the 20th century. Karl Marx's interpretation of the structure of labor in capitalism presented a new societal hierarchy whose finer points have been worked out in the complex film Blade Runner. This dystopian nightmare, in which a Marxist interpretation of current society bogged down by the ennui of capitalist accumulation is confronted, describes a new religious order based upon this economic theory. Central to this reimagining ...


Trends In U.S. Tea Imports: 1991-2015, Evan Kennedy 2017 Western Michigan University

Trends In U.S. Tea Imports: 1991-2015, Evan Kennedy

Honors Theses

Tea is the second most popular beverage in the world, and over the past two decades it has experienced a newfound popularity in the United States. Over this time period, ready-to-drink and loose-leaf tea has increased in popularity, whereas tea bags and instant tea declined in popularity. Since the United States produces almost no tea itself, an increase in consumption requires increased imports. Therefore, this paper examines U.S. import trends as a means to begin an examination of consumption. Ten countries (Argentina, Canada, China, Germany, India, Japan, Kenya, Sri Lanka, the United Kingdom, and Vietnam) provide approximately 80% of ...


The L. & H. Huning Mercantile Company: A Case Study Of Mercantile Conquest In The Rio Abajo Region Of New Mexico, 1848-1880, Ricardo S. Gonzales 2017 University of New Mexico

The L. & H. Huning Mercantile Company: A Case Study Of Mercantile Conquest In The Rio Abajo Region Of New Mexico, 1848-1880, Ricardo S. Gonzales

History ETDs

This master’s thesis is a case study of the L. & H. Huning Mercantile Company, a mercantile partnership in New Mexico during the territorial period. Louis and Henry Huning, a pair of brothers who immigrated to New Mexico from Germany in 1859, established wholesale and retail enterprises in the Arizona and New Mexico territories. Their main storehouse was founded in Los Lunas, New Mexico, in 1871 following the departure of Erhardt Franz to St. Louis.

L. & H. Huning became a successful merchandising business in the Rio Abajo by establishing a mercantile monopoly in Los Lunas. The introduction of free-market exchanges ...


Usda Forecasts Of Crop Ending Stocks: How Well Have They Performed?, Jinzhi Xiao, Chad E. Hart, Sergio H. Lence 2017 Santander Bank

Usda Forecasts Of Crop Ending Stocks: How Well Have They Performed?, Jinzhi Xiao, Chad E. Hart, Sergio H. Lence

Economics Publications

This study analyzes forecasts of U.S. ending stocks for corn, soybeans, and wheat issued by the USDA. The proposed efficiency tests focus on forecast revisions. Forecast errors are decomposed into monthly unforecastable shocks and idiosyncratic residuals. The error covariance matrix allows for heteroscedasticity and auto-correlations. Results suggest that the USDA forecasts are inefficient, providing strong evidence that the USDA is conservative in forecasting the ending stocks. Unforecastable shocks are heteroscedastic, and idiosyncratic residuals are small. Results are consistent across the three decades analyzed, but soybean forecasts are found to be considerably worse from 2005 to 2015.


Selecting An Alternative National Banking System Against Fractional Reserve Free Banking: The Greatest Modern Fraud?, Josiah J. Bardy 2017 Liberty University

Selecting An Alternative National Banking System Against Fractional Reserve Free Banking: The Greatest Modern Fraud?, Josiah J. Bardy

Senior Honors Theses

This paper serves as a compilation and analysis of different banking systems with an emphasis on fractional reserve free banking. Contemporary academic literature has debated fractional reserve banking with revisited scrutiny since the 2007–2009 financial crisis. The Austrian School, drawing conclusions from the Austrian business cycle theory, blames central banking for boom-bust economics. One proposed solution, fractional reserve free banking, eliminates the central bank’s control for a purer form of fractional reserve practice; however, this system may be inherently fraudulent and unethical. After completing an economic analysis of the western world’s banking system, this paper then explores ...


Interview Of Richard Mshomba, Ph.D., Richard Mshomba Ph.D., Daniel Miller 2017 La Salle University

Interview Of Richard Mshomba, Ph.D., Richard Mshomba Ph.D., Daniel Miller

All Oral Histories

Dr. Richard Mshomba is an economics professor at La Salle University. He was born in Tanzania and spent his early adult life working for the Tanzanian government. When he was 27 he came to the United States to attend school at La Salle College. While attending La Salle he lived with the brother of a local Bishop who helped to get Richard accepted to La Salle. Richard spent three years at La Salle College earning his degree in Economics. After talking with his professor Richard Garrison, he decided to apply to graduate school at the University of Delaware. While he ...


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