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Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth 2018 University of Missouri, St. Louis

Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth

Theses

The European Union has been one of the greatest accomplishments of modern history. Through economic and political integration has ended centuries of warfare on the continent while producing the worlds largest trading bloc. Despite the initial success of the monetary union and its single currency, the Union has been bogged down economic troubles in the form of a debt crisis among several of the member states. The recovery period of the crisis has produced growth that is slow and uneven. Countries such as Germany has assumed the role of the economic powerhouse of Europe and therefore a political leader in ...


Cooler Heads Prevail: An Experimental Study On The “Cooling” Effect Of The Strategy Method On Agent Resentment, Jing L. Davis 2018 Chapman University

Cooler Heads Prevail: An Experimental Study On The “Cooling” Effect Of The Strategy Method On Agent Resentment, Jing L. Davis

Economics Faculty Articles and Research

This study investigates whether agents’ resentment of controls in a gift-exchange game can be effectively mitigated using the strategy method where agents’ effort choices are elicited contingent on all possible contract choices by principals. The results suggest that allowing agents to contemplate contract choices prospectively results in less resentment and that agents exert higher effort than without this “cooling” process.


La Influencia Del Neoliberalismo Sobre Las Ideas De Lo “Natural”: Un Análisis De Las Ideas De La Naturaleza En Urbanizaciones Cerradas Y Grupos Subalternos En Tigre / The Influence Of Neoliberalism On Ideas Of What Is “Natural”: An Analysis Of Ideas Of Nature In Closed-Gated And Marginalized Communities In Tigre, Catherine Fraser 2018 SIT Study Abroad

La Influencia Del Neoliberalismo Sobre Las Ideas De Lo “Natural”: Un Análisis De Las Ideas De La Naturaleza En Urbanizaciones Cerradas Y Grupos Subalternos En Tigre / The Influence Of Neoliberalism On Ideas Of What Is “Natural”: An Analysis Of Ideas Of Nature In Closed-Gated And Marginalized Communities In Tigre, Catherine Fraser

Independent Study Project (ISP) Collection

Since the 1970s, there has been a global increase in neoliberal policy and ideology, marked by privatization, deregulation, and the withdrawal of the state from social programs (Harvey 2005: 2-3). Neoliberalism has manifested itself in Argentina in various forms, notably in the rise of closed-gated neighborhoods. In Tigre, a northern suburb of Buenos Aires, real estate developers fill in wetlands and re-route river tributaries to construct closed-gated neighborhoods around artificial water bodies to create an idealized neighborhood that offers residents a life in contact with “nature”. Seeking to accumulate capital, real estate developers commodify and construct a specific form of ...


Engaging America: Unearthing The Middle Way In The Conflict Between Liberals And Conservatives, Noah Cadet 2018 SIT Graduate Institute

Engaging America: Unearthing The Middle Way In The Conflict Between Liberals And Conservatives, Noah Cadet

Capstone Collection

Liberals and conservatives have waged conflict over development strategies since the founding of the United States of America. Observers of the 2016 Presidential Election may have noticed an escalation of a preexisting trend of destructive engagement between Democrats and Republicans. The researcher pursued primary and secondary research in an attempt to understand how conflict within and between development paradigms in the United States can be transcended. The central research question was regarding how this conflict affects efforts towards peacebuilding at the grassroots from the perspective of a liberal. The literature review provides a brief histories of US American Political Economy ...


Monetary Policy At The Zero Lower Bound: Implications Of High Costs Of Credit During A Recession, Louisa Kammerer 2018 Trinity College, Hartford Connecticut

Monetary Policy At The Zero Lower Bound: Implications Of High Costs Of Credit During A Recession, Louisa Kammerer

Senior Theses and Projects

This paper examines the challenges policymaker (and firms) encounter when confronted by a recession at the zero lower bound, when traditional monetary policy is ineffective in the face of deteriorated balance sheets and high costs of credit. Within the larger body of literature, this paper focuses on the cost of credit during a recession, which constrains smaller firms from borrowing and investing, thus magnifying the contraction. Extending and revising a model originally developed by Walker (2010) and estimated by Pandey and Ramirez (2012), this study uses a Vector Error Correction Model to analyze the effects of relevant economic and financial ...


Why Are Nontraded Goods Cheaper In Poor Countries?, Yoonho Choi, Hailong Jin, E. Kwan Choi 2018 Simpson College

Why Are Nontraded Goods Cheaper In Poor Countries?, Yoonho Choi, Hailong Jin, E. Kwan Choi

Economics Publications

Balassa and Samuelson argued that production technologies differ among countries, and the price of the nontraded good is higher in countries with higher labor productivity. This paper shows that the Balassa-Samuelson effect exists even when countries share identical production technologies. In the celebrated Heckscher-Ohlin model, changes in factor endowments do not affect the equalized factor prices. This paper considers a three-factor, three-industry model, and demonstrates that endowment differences between countries can cause disparities in their wage rates and the prices of the nontraded good. A dynamic panel data analysis shows that a 10% increase in per capita real GDP results ...


Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion 2018 Siemans Industry, Mpls

Braided Cobwebs: Cautionary Tales For Dynamic Retail Pricing In End-To-End Power Systems, Auswin George Thomas, Leigh Tesfatsion

Economics Working Papers

This study investigates the effects of dynamic-price retail contracting on end-to-end power system operations. Performance is evaluated by means of carefully defined metrics for system stability, market efficiency, and market participant welfare. The study is carried out for an Integrated Retail and Wholesale (IRW) Test Case for which households have smart (price-responsive) air-conditioning (A/C) systems. A simplified version of the IRW Test Case with a directly postulated linear household demand curve is first used to derive, analytically, a set of necessary and sufficient conditions for system stability under dynamic-price retail contracting. A key finding is that dynamicprice retail contracts ...


A Review Of Feminist Perspectives On Class And Work, Olivia Aguilar 2018 University of Redlands

A Review Of Feminist Perspectives On Class And Work, Olivia Aguilar

the Women, Gender, and Sexuality Studies Student Conference

No abstract provided.


Preference Conformism: An Experiment, Enrique Fatas, Shaun P. Hargreaves Heap, David Rojo Arjona 2018 University of East Anglia

Preference Conformism: An Experiment, Enrique Fatas, Shaun P. Hargreaves Heap, David Rojo Arjona

Economics Faculty Articles and Research

This paper reports on an experiment designed to test whether people’s preferences change to become more alike. Such preference conformism would be worrying for an economics that takes individual preferences as given (‘de gustibus es non disputandum’). So the test is important. But it is also difficult. People can behave alike for many reasons and the key to the design of our test, therefore, is the control of the other possible reasons for observing apparent peer effects. We find evidence of preference conformism in the aggregate and at the individual level (where there is heterogeneity). It appears also to ...


Air Force Installation Contracting Agency Strategic Sourcing And Category Management Through Expenditure Profiling, James T. Okamoto 2018 Air Force Institute of Technology

Air Force Installation Contracting Agency Strategic Sourcing And Category Management Through Expenditure Profiling, James T. Okamoto

Theses and Dissertations

This thesis examines an approach to characterizing various expenditure profiles for the Air Force Installation Contracting Agency’s Operations and Maintenance Appropriated Funds. Using naive, seasonal naive, trailing moving average, exponential smoothing, linear regression, and autoregressive integrated moving average (ARIMA) forecasting methods, the paper evaluates multiple error measures over one fiscal year to find the most precise model for each level of analysis. Levels of analysis included the Air Force enterprise and level 1 category levels, as well as an illustrative approach to Information and Technology spend at the level 2 subcategory, major command, and base levels. Optimal model characteristics ...


Convergence In Income Inequality: Further Evidence From The Club Clustering Methodology Across States In The U.S., Nicholas Apergis, Christina Christou, Rangan Gupta, Stephen M. Miller 2018 University of Piraeus

Convergence In Income Inequality: Further Evidence From The Club Clustering Methodology Across States In The U.S., Nicholas Apergis, Christina Christou, Rangan Gupta, Stephen M. Miller

Economics Faculty Publications

This paper contributes to the sparse literature on inequality convergence by empirically testing convergence across states in the U.S. This sample period encompasses a series of different periods that the existing literature discusses -- the Great Depression (1929–1944), the Great Compression (1945–1979), the Great Divergence (1980-present), the Great Moderation (1982–2007), and the Great Recession (2007–2009). This paper implements the relatively new method of panel convergence testing, recommended by Phillips and Sul (2007). This method examines the club convergence hypothesis, which argues that certain countries, states, sectors, or regions belong to a club that moves from disequilibrium ...


Clarity Trumps Content: An Experiment On Information Acquisition In Beauty Contests, Sanjay Banerjee, Hong Qu, Ran Zhao 2018 University of Alberta

Clarity Trumps Content: An Experiment On Information Acquisition In Beauty Contests, Sanjay Banerjee, Hong Qu, Ran Zhao

Accounting Faculty Articles and Research

We provide experimental evidence that under strong beauty contest incentives, players ignore signals from an information source with high content if the source has low clarity. Instead, they acquire equally costly signals from a source with higher clarity despite its lower content. Content measures how precisely an information source identifies an economic situation, whereas clarity measures how precisely the source content is commonly interpreted. Low clarity impairs players' ability to coordinate. When signals are provided exogenously, our experimental results are less severe than theoretical predictions, but consistent with level-2 reasoning in a cognitive behavioral model. When players acquire signals endogenously ...


Nebraska Business And Consumer Confidence Indexes: March 9, 2018, Eric Thompson 2018 University of Nebraska-Lincoln

Nebraska Business And Consumer Confidence Indexes: March 9, 2018, Eric Thompson

Leading Economic Indicator Reports

Nebraska consumer and business confidence fell during February 2018, dropping from the near-peak levels seen in January. The Consumer Confidence Index – Nebraska (CCI-N) fell to 101.6 in February from a value of 115.2 in January. The February value remains above the neutral level of 100.0. The Business Confidence Index – Nebraska (BCI-N) fell to 107.4 In February from 112.2 in January. Both monthly readings were well above the neutral value of 100.0 suggesting that business confidence remains strong. When asked about the most important issue facing their business, customer demand was mentioned by 38 percent ...


Your Money Or Your Time? Experimental Evidence On Overbidding In All-Pay Auctions, Adriana Breaban, Charles N. Noussair, Andreea Victoria Popescu 2018 Chapman University

Your Money Or Your Time? Experimental Evidence On Overbidding In All-Pay Auctions, Adriana Breaban, Charles N. Noussair, Andreea Victoria Popescu

ESI Working Papers

Competition for a prize frequently takes the form of dedicating time toward winning a contest. Those who spend the most time become more likely to obtain the prize. We model this competition as an all-pay auction under incomplete information, and report an experiment in which expenditures and rewards are in terms of time. In the experiment, subjects must stay in the laboratory doing nothing for an initially prespecified length of time. However, they can bid, in terms of time, to leave early. The auction has an allpay structure so that if an individual does not submit the highest bid within ...


Minimum Wages And Occupational Skills Acquired During High School, Benjamin Meier, Kyrstin Shadle, Brent E. Kreider, Peter F. Orazem 2018 Federal Reserve Bank of Dallas

Minimum Wages And Occupational Skills Acquired During High School, Benjamin Meier, Kyrstin Shadle, Brent E. Kreider, Peter F. Orazem

Economics Working Papers

The National Longitudinal Survey of Youth 1997 Geocode sample and the O*NET Occupational Database are used to generate estimates of skills acquired on jobs held by youth during high school. The types of jobs firms offer high school students change with the minimum wage. Jobs offered in high minimum wage states involve less skill acquisition. These same skills are shown to be important for income, employment and occupational skills later in life. Additional schooling substitutes for job skills acquired in high school, implying lost on-the-job training in high school is most costly for youth who do not go to ...


Experimental Evidence On The Cyclicality Of Investment, Cortney S. Rodet, Andrew Smyth 2018 Ohio University

Experimental Evidence On The Cyclicality Of Investment, Cortney S. Rodet, Andrew Smyth

ESI Working Papers

We report laboratory experiments investigating the cyclicality of investment. In our setting, optimal investment is counter-cyclical because investment costs fall following market downturns. However, we do not observe counter-cyclical investment. Instead, heuristic investment models where firms invest a fixed percentage of their liquidity, or a fixed percentage of anticipated market demand, better fit our data on average than does optimal investment. We also report a control treatment without cost changes and a treatment with asymmetric investment liquidity. Both of these extensions support our main result.


Indefinitely Repeated Contests: An Experimental Study, Philip Brookins, Dmitry Ryvkin, Andrew Smyth 2018 Harvard University

Indefinitely Repeated Contests: An Experimental Study, Philip Brookins, Dmitry Ryvkin, Andrew Smyth

ESI Working Papers

We experimentally explore indefinitely repeated contests. Theory predicts more cooperation, in the form of lower expenditures, in indefinitely repeated contests with a longer expected time horizon, yet our data do not support this prediction. Theory also predicts more cooperation in indefinitely repeated contests compared to finitely repeated contests of the same expected length, but we find no significant difference empirically. When controlling for risk and gender, we actually find significantly higher long-run expenditure in some indefinite contests relative to finite contests. Finally, theory predicts no difference in cooperation across indefinitely repeated winner-take-all and proportional-prize contests. We find significantly less cooperation ...


Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir 2018 University of Maryland, Baltimore County

Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir

Undergraduate Economic Review

Economists have strongly supported the idea that unemployment causes many undesirable health outcomes. However, how does belonging to a different sector of employment tied closely to changes in minimum wage and inflation relate to overall health? To properly understand the numerical significance of health disparities in the uncovered sector of employment, this research is targeted at quantifying the relationship between the insured and non-insured within the uncovered sector. By substantiating the existence of severe health disparities as a function of the labor force dynamic, this research subsequently estimates the amount of inefficiency and negative health outcomes in the US economy ...


Nebraska Business And Consumer Confidence Indexes: February 2, 2018, Eric Thompson 2018 University of Nebraska-Lincoln

Nebraska Business And Consumer Confidence Indexes: February 2, 2018, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence rebounded in Nebraska during January 2018. The Consumer Confidence Index – Nebraska (CCI-N) rose to 115.2, well above the neutral level of 100.0 and a value of 93.3 in December 2017. This is the highest level recorded for the CCI-N since it was first released in February of 2016. The Business Confidence Index – Nebraska (BCI-N) rose to 112.2 in January from 107.5 in December. Both monthly readings were well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 40 ...


Regression Discontinuity And Heteroskedasticity Robust Standard Errors: Evidence From A Fixed-Bandwidth Approximation, Otávio Bartalotti 2018 Iowa State University

Regression Discontinuity And Heteroskedasticity Robust Standard Errors: Evidence From A Fixed-Bandwidth Approximation, Otávio Bartalotti

Economics Publications

In regression discontinuity designs (RD), for a given bandwidth, researchers can estimate standard errors based on different variance formulas obtained under different asymptotic frameworks. In the traditional approach the bandwidth shrinks to zero as sample size increases; alternatively, the bandwidth could be treated as fixed. The main theoretical results for RD rely on the former, while most applications in the literature treat the estimates as parametric, implementing the usual heteroskedasticity-robust standard errors. This paper develops the “fixed-bandwidth” alternative asymptotic theory for RD designs, which sheds light on the connection between both approaches. I provide alternative formulas (approximations) for the bias ...


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