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In Classical And Keynesian Times: The Twentieth Century Economy Revisited, Lewis Karstensson 2017 University of Nevada, Las Vegas

In Classical And Keynesian Times: The Twentieth Century Economy Revisited, Lewis Karstensson

Economics Faculty Publications

A descriptive analysis of the performance of the United States economy with respect to production, employment, and average price level over the twentieth century by presidential administration.


Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis 2016 University of California - Berkeley

Religion, Administration & Public Goods: Experimental Evidence From Russia, Theocharis N. Grigoriadis

Theocharis Grigoriadis

In this paper, I argue that religion matters for the provision of public goods. I identify three normative foundations of Eastern Orthodox monasticism with strong economic implications: 1. solidarity, 2. obedience, and 3. universal discipline. I propose and solve a public goods game with a three-tier hierarchy, where these norms are modeled as treatments. Obedience and universal discipline facilitate the provision of threshold public goods in equilibrium, whereas solidarity does not. Empirical evidence is drawn from public goods experiments run with regional bureaucrats in Tomsk and Novosibirsk, Russia. The introduction of the same three norms as experimental treatments produces different ...


Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe 2016 CUNY Hunter College

Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe

School of Arts & Sciences Theses

This paper examines the effects of migration from eastern slave states in the 19th century on the subsequent development of counties in the Western US. I find that increased migration from slave states has a large, statistically significant negative effect on 2010 income, and no significant effect on racial inequality or overall income inequality. These findings are robust to a variety of specifications, including controls for geographic factors, state fixed effects, and various county level social and economic conditions. Data on individual migrants suggest that the cause of the negative income effect is the lower average human capital endowment of ...


Warlord: The Political And Military Ambitions Of Nazi Germany, William R. Underhill 2016 Linfield College

Warlord: The Political And Military Ambitions Of Nazi Germany, William R. Underhill

Senior Theses

There are so many important stories to consider when thinking about World War II. It is easy to think about the popular aspects of the war: the causes, the major figures, the battles, and, of course, the lasting consequences. Yet there are other, lesser known storylines to consider, ones that have taken a backseat to the more popular narratives of the time. It is commonly understood that Nazi Germany was evil and that they had nothing but ill intentions for the rest of Europe and the world. However, it is vital to understand that Germany’s pre-war intentions are notably ...


Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande 2016 Columbia University

Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande

Undergraduate Economic Review

This essay aims to analyse the classification of unilateral transfers under the current account at Bretton Woods despite significant opposition from larger delegations of major Allied powers, bringing to the forefront the global liquidity of remittances in the post-War years permitted by their fully currency convertible nature. Using the example of the Indian State of Kerala, this paper charts the relevance of their sustained uninterrupted flow to their subsequent exponential growth in the last three decades, using the case study as a pivot to argue for better policy measures that maximise their multiplier effect.


Pegxit Pressure: Evidence From The Classical Gold Standard, Kris James Mitchener, Gonçalo Pina 2016 Santa Clara University

Pegxit Pressure: Evidence From The Classical Gold Standard, Kris James Mitchener, Gonçalo Pina

Economics

We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on commodity-price movements from the classical gold standard era, we then show that the model’s main prediction holds even for the canonical example of hard pegs. We identify a negative causal relationship between export-price shocks and currency-risk premia in emerging market economies, indicating that negative export-price shocks increased the probability that countries abandoned their pegs.


19th Century American Children's Book Trade Directory, American Antiquarian Society 2016 University of Pennsylvania

19th Century American Children's Book Trade Directory, American Antiquarian Society

The Magazine of Early American Datasets (MEAD)

Based upon the unparalleled collection of Children's Literature held at the American Antiquarian Society, this comprehensive directory contains 2,600 entries documenting the activity of individuals and firms involved in the manufacture and distribution of childrens books in the United States chiefly between 1821 and 1876.

Nationally known firms such as McLoughlin Bros. and non-profit publishers like the American Sunday-School Union are included, as well as prominent educational pioneers such as Elizabeth Palmer Peabody, Samuel Griswold Goodrich, and William Bentley Fowle. The directory also reflects the dynamic growth of childrens book production in the major publishing centers of Boston ...


Mathew Carey Papers Names Index Database, American Antiquarian Society 2016 University of Pennsylvania

Mathew Carey Papers Names Index Database, American Antiquarian Society

The Magazine of Early American Datasets (MEAD)

Mathew Carey (1760-1839), publisher, economist, and humanitarian, was born in Dublin, Ireland. He came to the United States in 1784 after involvement in Irish revolutionary activities and took up his trade as a printer, publishing the Pennsylvania Herald and the periodical, The American Museum. His book publishing ventures prospered and his firm was a leader in American printing and publishing in the period 1795 to 1835. Carey was an active proponent of the protective tariff, as well as an ardent champion of oppressed minorities in Europe, especially after his retirement from business in 1821. His business was thereafter conducted by ...


Williamsburg Brickmaker Humphrey Harwood's Ledger (1773-1793), Wendy E. Lucas 4505624, Noel D. Campbell 2016 University of Central Arkansas

Williamsburg Brickmaker Humphrey Harwood's Ledger (1773-1793), Wendy E. Lucas 4505624, Noel D. Campbell

The Magazine of Early American Datasets (MEAD)

This file contains processed data from Humphrey Harwood’s Ledger B, folios 1-102. Entries in the ledger suggest that at least 128 folios existed in Ledger B, as well as Ledgers A and C. Ledger B records some of Harwood’s activities between 1776 through his death in 1788, and beyond to 1793, as recorded by William Harwood. For this file, we extracted and processed most of the data available in the ledger, but we were unable to understand the activities recorded in a handful of small accounts, which we omitted. Therefore, this file technically is a processed extract or ...


What Motivates Farmers To Apply Phosphorus At The “Right” Time? Survey Evidence From The Western Lake Erie Basin, Wendong Zhang, Robyn S. Wilson, Elizabeth Burnett, Elena G. Irwin, Jay F. Martin 2016 Iowa State University

What Motivates Farmers To Apply Phosphorus At The “Right” Time? Survey Evidence From The Western Lake Erie Basin, Wendong Zhang, Robyn S. Wilson, Elizabeth Burnett, Elena G. Irwin, Jay F. Martin

Economics Publications

Phosphorus loadings from the Maumee River watershed have significantly compromised the Lake Erie ecosystem, as evidenced by the most severe harmful algal bloom in Lake Erie in 2015 and the shut-down of Toledo drinking water supply in 2014. Despite government payments for adoption of voluntary conservation practices, excess nutrient runoff from agricultural production remains a substantial challenge. The right timing of nutrient application is a critical best management practice (BMP). Using a unique survey of 2540 farmer respondents in the Maumee River watershed, this paper analyzes how socio-psychological, socio-demographic, and field-based spatial characteristics impact farmers' adoption of timing-related best practices ...


George Washington's Shipping Invoices From London Factors 1754-1772, Wendy E. Lucas 4505624, Noel D. Campbell 2016 University of Central Arkansas

George Washington's Shipping Invoices From London Factors 1754-1772, Wendy E. Lucas 4505624, Noel D. Campbell

The Magazine of Early American Datasets (MEAD)

From 1754-1772, Washington marketed his crop on the consignment system. He shipped his tobacco to British 'factors' who would sell it for him on the British market, often for re-export to continental Europe. With his tobacco (and at other times during the year), Washington would send correspondence including a list of items he wished his factors to purchase for him with the tobacco revenues and ship to Virginia. The factors would attempt to fulfill Washington's purchase requests, based on product availability and their knowledge of his tastes and willingness to spend. After deducting shipping costs, insurance charges, duties and ...


Persistence In Industrial Policy Impacts: Evidence From Depression-Era Mississippi, Matthew Freedman 2016 Drexel University

Persistence In Industrial Policy Impacts: Evidence From Depression-Era Mississippi, Matthew Freedman

Matthew Freedman

This paper studies the effects of a large-scale industrial policy implemented in 1930s Mississippi on contemporaneous and modern-day labor market outcomes. Attracted by unprecedented government incentives under Mississippi’s Balance Agriculture with Industry (BAWI) Program, 13 large manufacturing plants established operations in the state between 1936 and 1940. Using difference-in-differences and synthetic control matching techniques, I estimate that counties that received these plants experienced an over 15% increase in female labor force participation on average in the short run. Moreover, these effects persisted decades into the future, well after many of the original companies shut down. I also find suggestive ...


The Integrity Of Financial Analysts: Evidence From Asymmetric Responses To Earnings Surprises, Rui Lu, Wenxuan Hou, Henry Oppenheimer, Ting Zhang 2016 Sun Yat-sen University

The Integrity Of Financial Analysts: Evidence From Asymmetric Responses To Earnings Surprises, Rui Lu, Wenxuan Hou, Henry Oppenheimer, Ting Zhang

Ting Zhang

This paper investigates the integrity of financial analysts by examining their recommendation responses to large quarterly earnings surprises. Although there is no significant difference in recommendation changes between affiliated and unaffiliated analysts in response to positive earnings surprises, affiliated analysts are more reluctant than unaffiliated analysts to downgrade stock recommendations in response to negative earnings surprises. The evidence implies that conflicts of interest undermine the integrity of financial analysts. We further examine the effects of reputation concern and the Global Research Analyst Settlement as informal and formal mechanisms, on restoring analysts’ integrity. The results show that the positive bias in ...


An Analysis Of Risk-Taking Behavior For Public Defined Benefit Pension Plans, Nancy Mohan, Ting Zhang 2016 University of Dayton

An Analysis Of Risk-Taking Behavior For Public Defined Benefit Pension Plans, Nancy Mohan, Ting Zhang

Ting Zhang

This paper presents the first comprehensive study on the determinants of public pension fund investment risk and reports several new important findings. Unlike private pension plans, public funds undertake more risk if they are underfunded and have lower investment returns in the previous years, consistent with the risk transfer hypothesis. Furthermore, pension funds in states facing fiscal constraints allocate more assets to equity and have higher betas. There also appears to be a herding effect in that CalPERS equity allocation or beta is mimicked by other pension funds. Finally, our results suggest that government accounting standards strongly affect pension fund ...


An Analysis Of Risk-Taking Behavior For Public Defined Benefit Pension Plans, Nancy Mohan, Ting Zhang 2016 University of Dayton

An Analysis Of Risk-Taking Behavior For Public Defined Benefit Pension Plans, Nancy Mohan, Ting Zhang

Nancy Mohan

This paper presents the first comprehensive study on the determinants of public pension fund investment risk and reports several new important findings. Unlike private pension plans, public funds undertake more risk if they are underfunded and have lower investment returns in the previous years, consistent with the risk transfer hypothesis. Furthermore, pension funds in states facing fiscal constraints allocate more assets to equity and have higher betas. There also appears to be a herding effect in that CalPERS equity allocation or beta is mimicked by other pension funds. Finally, our results suggest that government accounting standards strongly affect pension fund ...


The Integrity Of Financial Analysts: Evidence From Asymmetric Responses To Earnings Surprises, Rui Lu, Wenxuan Hou, Henry Oppenheimer, Ting Zhang 2016 Sun Yat-sen University

The Integrity Of Financial Analysts: Evidence From Asymmetric Responses To Earnings Surprises, Rui Lu, Wenxuan Hou, Henry Oppenheimer, Ting Zhang

Economics and Finance Faculty Publications

This paper investigates the integrity of financial analysts by examining their recommendation responses to large quarterly earnings surprises. Although there is no significant difference in recommendation changes between affiliated and unaffiliated analysts in response to positive earnings surprises, affiliated analysts are more reluctant than unaffiliated analysts to downgrade stock recommendations in response to negative earnings surprises. The evidence implies that conflicts of interest undermine the integrity of financial analysts. We further examine the effects of reputation concern and the Global Research Analyst Settlement as informal and formal mechanisms, on restoring analysts’ integrity. The results show that the positive bias in ...


Patterns Of Growth And The Economic Development Of China, Adam C. Watson 2016 Graduate Center, City University of New York

Patterns Of Growth And The Economic Development Of China, Adam C. Watson

All Dissertations, Theses, and Capstone Projects

By looking at the historical rise of modern China, starting with the end of the First Opium War (1842) through to the start of the war with Japan (1937), and then from the beginning of Deng Xiaoping’s economic reforms (1979) to the present, this work reveals the striking similarities between the earlier and the later periods of capitalist development. If the country had not been able to draw on the deep-rooted knowledge and skills which originated in Shanghai and the port cities in the mid-nineteenth century, and instead pursued only uninformed free market principles without the training to make ...


Grandparents: The Silent Engine Behind China’S Economic Growth, Singapore Management University 2016 Singapore Management University

Grandparents: The Silent Engine Behind China’S Economic Growth, Singapore Management University

Perspectives@SMU

Migrant workers leave behind children to be taken care of by the elderly in villages – it is a win-win arrangement for all involved


Development Of Utility Theory And Utility Paradoxes, Timothy E. Dahlstrom 2016 Lawrence University

Development Of Utility Theory And Utility Paradoxes, Timothy E. Dahlstrom

Lawrence University Honors Projects

Since the pioneering work of von Neumann and Morgenstern in 1944 there have been many developments in Expected Utility theory. In order to explain decision making behavior economists have created increasingly broad and complex models of utility theory. This paper seeks to describe various utility models, how they model choices among ambiguous and lottery type situations, and how they respond to the Ellsberg and Allais paradoxes. This paper also attempts to communicate the historical development of utility models and provide a fresh perspective on the development of utility models.


Daniel Defoe’S Literary Economies: The Shifting Role Of Narrative Uncertainty, Speculation, And Providence In Robinson Crusoe And Roxana., Terese J. Swords 2016 Lawrence University

Daniel Defoe’S Literary Economies: The Shifting Role Of Narrative Uncertainty, Speculation, And Providence In Robinson Crusoe And Roxana., Terese J. Swords

Lawrence University Honors Projects

In my honors project, I analyze how Daniel Defoe’s first novel, Robinson Crusoe (1719), and his last, Roxana (1724), offer shifting economic commentary regarding England’s emerging 18th century credit economy. This shift does not come as too much of a surprise, as his first and last novel straddle the historic moment of the South Sea Bubble’s burst. Therefore, Defoe’s works, when analyzed sequentially, capture the evolving attitude towards value and credit that was occurring throughout all of England.

In my first chapter, “Crusoe’s Post Facto Journal Editing: ‘How wonderfully we are delivered when we ...


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