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Research in Applied Economics最新文献

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Did Smaller Firms Face Higher Costs of Credit During the Great Recession? A Vector Error Correction Analysis with Structural Breaks 在大衰退期间，小公司是否面临更高的信贷成本?具有结构断裂的矢量误差校正分析
Research in Applied Economics Pub Date : 2018-08-07 DOI: 10.5296/RAE.V10I3.13476
Louisa Kammerer, Miguel Ramírez
{"title":"Did Smaller Firms Face Higher Costs of Credit During the Great Recession? A Vector Error Correction Analysis with Structural Breaks","authors":"Louisa Kammerer, Miguel Ramírez","doi":"10.5296/RAE.V10I3.13476","DOIUrl":"https://doi.org/10.5296/RAE.V10I3.13476","url":null,"abstract":"This paper examines the challenges firms (and policymakers) 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 with structural breaks to analyze the effects of relevant economic and financial factors on the cost of credit intermediation for small and large firms. Specifically, it tests whether large firms have advantageous access to credit, especially during recessions. The findings suggest that during the Great Recession of 2007-09 the cost of credit rose for small firms while it decreased for large firms, ceteris paribus. From the results, the paper assesses alternative ways in which the central bank can respond to a recession facing the zero lower bound.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121911385","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Who is Covered by Unemployment Insurance? 失业保险的受益人是谁?
Research in Applied Economics Pub Date : 2018-08-07 DOI: 10.5296/RAE.V10I3.13373
Leslie Hodges
{"title":"Who is Covered by Unemployment Insurance?","authors":"Leslie Hodges","doi":"10.5296/RAE.V10I3.13373","DOIUrl":"https://doi.org/10.5296/RAE.V10I3.13373","url":null,"abstract":"Although the Federal State Unemployment Compensation Program (UI) is designed to insure U.S. workers against the economic risk of job loss, there is little information available about the characteristics of employed workers who are covered by the program (i.e., who would be eligible for benefits if they became unemployed). Knowing more about these workers can improve current understanding of the extent to which the UI program is meeting the needs of workers in the modern economy and can help researchers and policymakers identify ways to make the program more effective. To contribute to research in this area, this paper uses data from the 2008 Survey of Income and Program Participation (SIPP) and probit regression analysis to document rates of UI coverage by major demographic and job groups. I find that 95 percent of employed workers with prior labor-force experience are covered by UI. However, consistent with prior literature on the characteristics of UI recipients, I find gaps in UI coverage for women, younger workers, less-educated workers, part-time workers, and workers in some service-related industries and occupations.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129132623","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Random Risk Appetite 随机风险偏好
Research in Applied Economics Pub Date : 2018-08-07 DOI: 10.5296/RAE.V10I3.13331
S. Azar
{"title":"Random Risk Appetite","authors":"S. Azar","doi":"10.5296/RAE.V10I3.13331","DOIUrl":"https://doi.org/10.5296/RAE.V10I3.13331","url":null,"abstract":"There is a burgeoning literature on the randomness of the coefficient of relative risk aversion (CRRA). This paper is in line with such a research agenda. Modelling risk aversion, or its converse, risk appetite, as a random variable violates one of the fundamental principles of economics, in general, and of the behavior under risk in particular, and which is constant preferences. This paper argues otherwise. Both conditional and unconditional tests are carried out to identify the CRRA. A battery of econometric procedures is attempted. The paper postulates that the CRRA follows a normal distribution, with the first two statistical moments derived from the empirical results. The CRRA is found to follow a normal distribution with mean 2.57, and with a standard error of 0.454. Surprisingly, the 95% confidence interval does not include a CRRA of +1, or log utility. However the richness of the approach compensates for this caveat.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"330 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134396031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Long Run Relationship between Youth Population and Economic Growth: Evidences from Time Series Data of Bangladesh 青年人口与经济增长的长期关系:来自孟加拉国时间序列数据的证据
Research in Applied Economics Pub Date : 2018-06-25 DOI: 10.5296/rae.v10i2.13429
S. M. Abdullah, S. H. Bidisha
{"title":"The Long Run Relationship between Youth Population and Economic Growth: Evidences from Time Series Data of Bangladesh","authors":"S. M. Abdullah, S. H. Bidisha","doi":"10.5296/rae.v10i2.13429","DOIUrl":"https://doi.org/10.5296/rae.v10i2.13429","url":null,"abstract":"With the help of forty three years time series data of Bangladesh, this paper attempts to understand the long term relationship between youth population and economic growth. Despite the significance of youth population to the economy, the long run relationship between the relative share of youth population to the economy and economic growth has not been analyzed in greater detail. In this context, this paper has applied Johansen cointegration analysis where the estimation result suggests that a consequential and proportional increase in youth population will lead to a rise in GDP growth in the long run. Given the significance of demographic composition on economic growth, the estimation results emphasized the importance of policies related to greater public investment in youth development programs including those of tertiary education and skill training initiatives.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123383070","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Effects of Health Care Expenditures as a Percentage of GDP on Life Expectancies 卫生保健支出占国内生产总值的百分比对预期寿命的影响
Research in Applied Economics Pub Date : 2018-06-24 DOI: 10.5296/RAE.V10I2.12654
J. Duba, J. Berry, A. Fang, M. Baughn
{"title":"The Effects of Health Care Expenditures as a Percentage of GDP on Life Expectancies","authors":"J. Duba, J. Berry, A. Fang, M. Baughn","doi":"10.5296/RAE.V10I2.12654","DOIUrl":"https://doi.org/10.5296/RAE.V10I2.12654","url":null,"abstract":"The purpose of our research is to examine to see if there is a relationship between health care expenditures as a percentage of GDP and life expectancy for both females and males, consisting of 210 countries and regions over the period of 1995 to 2014. Along with health expenditure, we also use percent of the population in urban areas, primary completion rates, the amount of foreign aid received, agriculture value added, sanitation, and Carbon Dioxide (CO2) emissions per capita as our independent variables. The data that we collected indicates that there is a statistically significant link between life expectancies of both men and women and health care expenditures. During our research we ran our data through fixed effects regression model, this model is in use so that it would reduce the potential biases that we may have had during our experiment and test our hypothesis at the highest standard.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123280425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 13
Macroprudential Policy and Financial Stability: The Turkish Case 宏观审慎政策与金融稳定:土耳其案例
Research in Applied Economics Pub Date : 2018-06-10 DOI: 10.5296/RAE.V10I2.12979
I. Siklar, A. Akça
{"title":"Macroprudential Policy and Financial Stability: The Turkish Case","authors":"I. Siklar, A. Akça","doi":"10.5296/RAE.V10I2.12979","DOIUrl":"https://doi.org/10.5296/RAE.V10I2.12979","url":null,"abstract":"This study aims to analyse the relationship between financial stability and macroprudential policies in Turkey and investigate the effectiveness of macroprudential policies on the financial stability by using the vector error correction model (VECM). Estimates are realized for the 2010-2017 period by using the monthly data. For this purpose, a composite financial stability indicator (FSI) is formed and an estimation model is developed. Banking sector credit concentration, net position of interbank money market, leverage ratio, capital buffers, reserve requirements and foreign currency loan limits are used as macroprudential policy indicators. According the results obtained from VECM model, the ratios which represent concentration of credit and capital buffer provide a favourable contribution to financial stability while the variables representing the leverage ratio and the net position of banking system in interbank money market negatively affect the financial stability. The study concludes that monetary policy should be supported by macroprudential policy instrument to achieve financial stability.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117016198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Financing of Walloon Municipalities: A Financing between Externality and Solidarity 瓦隆市政府的融资:外部性与团结性之间的融资
Research in Applied Economics Pub Date : 2018-06-10 DOI: 10.5296/RAE.V10I2.13014
Jonathan Bauweraerts, Julien Vandernoot, A. Buchet
{"title":"The Financing of Walloon Municipalities: A Financing between Externality and Solidarity","authors":"Jonathan Bauweraerts, Julien Vandernoot, A. Buchet","doi":"10.5296/RAE.V10I2.13014","DOIUrl":"https://doi.org/10.5296/RAE.V10I2.13014","url":null,"abstract":"Belgium is a federal state made up of Regions and Communities. 262 Municipalities are situated in the Walloon Region. The aim of this paper is to describe their funding and to analyze the impact of the last reform of the funding of the Walloon municipalities. This reform is characterized by an increase in the overall amount of the funding and a change in the rules of funding. We analyze the impact of this change on municipalities’ revenue distribution by using a cluster system which allow us to see that some municipalities benefit more than the others from this new funding rules.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"409 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115996455","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Monetary Policy Transmission under Inflation Targeting in Mongolia 通货膨胀目标制下的蒙古货币政策传导
Research in Applied Economics Pub Date : 2018-06-10 DOI: 10.5296/RAE.V10I2.12950
Erdenechuluun Khishigjargal
{"title":"Monetary Policy Transmission under Inflation Targeting in Mongolia","authors":"Erdenechuluun Khishigjargal","doi":"10.5296/RAE.V10I2.12950","DOIUrl":"https://doi.org/10.5296/RAE.V10I2.12950","url":null,"abstract":"This article aims to examine the monetary policy transmission mechanism under the inflation targeting in Mongolia for the period from June 2007 to August 2017 by applying a recursive vector-autoregressive model. Under the inflation targeting framework, the Bank of Mongolia has established the interest rate corridor since February 2013 for the purpose of improving the interest rate channel of the transmission mechanism. The study then contributes to the literature by assessing whether the interest rate corridor has really improved the policy rate transmission effects by comparing the effects between the pre-corridor period (from June 2007 to February 2013) and the post-corridor period (from March 2013 to August 2017). The main findings of this study are as follows. First, in the post-corridor period the effect of policy rate is clearly transmitted to the lending rate and inflation rate through the responses of interbank market rate, whereas the pre-corridor period does not represent any significant interest rate transmission effects. This outcomes implies that the interest rate corridor has contributed to enhancing monetary policy transmission mechanism. Second, the responses of exchange rate and industrial production to the policy rate shock are not significant even after the adoption of the interest rate corridor. This insignificance might come from the stick policy rate to stabilize the exchange rate, so-called a “fear of floating”.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"76 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132692575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Exploring Gender Wage Gap in Urban Labor Market of Bangladesh 孟加拉城市劳动力市场性别工资差距研究
Research in Applied Economics Pub Date : 2018-03-29 DOI: 10.5296/RAE.V10I1.12873
M. Siddiquee, A. Hossain
{"title":"Exploring Gender Wage Gap in Urban Labor Market of Bangladesh","authors":"M. Siddiquee, A. Hossain","doi":"10.5296/RAE.V10I1.12873","DOIUrl":"https://doi.org/10.5296/RAE.V10I1.12873","url":null,"abstract":"Using the Labor Force Survey 2010 dataset this paper examines gender wage gap in a large sample of urban workers in Bangladesh and explore whether gender wage gap varies across the wage distribution. Mincerian OLS regression and its Blinder-Oaxaca decomposition results reveal that the estimated wage gap between men and women workers is 21.2%. Adjusting women’s endowments levels to those of men increases women’s wage by 12.1% and a gap of 8.0% remains unexplained. The decomposition results based on the unconditional quantile regressions demonstrate that the estimated total gender wage gap is higher at lower end of the wage distribution compared to the higher end.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129783096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Criterion Stochastic Decision Making Method in the Tourism Industry 旅游行业的标准随机决策方法
Research in Applied Economics Pub Date : 2018-03-25 DOI: 10.5296/RAE.V10I1.12761
V. Kostenko, V. Kuznichenko, V. Lapshyn
{"title":"Criterion Stochastic Decision Making Method in the Tourism Industry","authors":"V. Kostenko, V. Kuznichenko, V. Lapshyn","doi":"10.5296/RAE.V10I1.12761","DOIUrl":"https://doi.org/10.5296/RAE.V10I1.12761","url":null,"abstract":"The development and application of effective and reliable decision making methods in the tourist business is an important problem. When choosing objects in the tourist business – such as recreational territories, tourist routes and other attractions – the change in the number of objects, as well as in the number of choice criteria, is very important. Those who are tasked with making these sorts of decisions may find the method developed and proposed here – a criterion stochastic method – to be useful, on account of its universality and relative objectivity. When choosing an object (alternative) in a situation where their number – or the number of criteria – varies, the criterion stochastic method keeps the ratios of the initial global priorities of the alternatives (criteria) equal, as well as maintaining their comparison signs.","PeriodicalId":225665,"journal":{"name":"Research in Applied Economics","volume":"158 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115424345","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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