Universidad Icesi - School of Management & Economics Research Paper Series最新文献

{"title":"Competitiveness and its Leverage in a Currency Union or How Germany Gains from the Euro","authors":"Thanos Skouras","doi":"10.2139/ssrn.2804027","DOIUrl":"https://doi.org/10.2139/ssrn.2804027","url":null,"abstract":"A distinction is drawn between two notions of competitiveness. 'Essential' competitiveness focuses on the inherent developmental potential of an economy while 'apparent' competitiveness is largely determined by the exchange rate's influence on the current account. A currency union leverages (positively or negatively) a country's 'essential' competitiveness that diverges from the weighted average 'essential' competitiveness of the union as a whole, when compared with its competitiveness outside the currency union. Germany's recent economic success is largely due to the leverage of its relatively high 'essential' competitiveness by the Eurozone. The uncertainty regarding the economic prospects of both the weaker members and the Eurozone further enhances Germany's gain from the euro.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125040796","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}

{"title":"Deposit Contract Design with Preferences for Honesty","authors":"Yoshihiro Ohashi","doi":"10.2139/ssrn.2621941","DOIUrl":"https://doi.org/10.2139/ssrn.2621941","url":null,"abstract":"This study proposes a new selection mechanism to identify the efficient allocation of a deposit contract model by using agents' preference for honesty. The main result is that the efficient allocation is uniquely implementable through iterated elimination of strictly dominated strategies, while it is never implementable in ex-post equilibrium under a canonical environment without preferences for honesty. This result is obtained under small and weak preferences for honesty. Furthermore, a mechanism designer requires no information on whose preference it is.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131642097","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}

{"title":"Agriculture and Rural Development in the Eleventh Five Year Plan in India","authors":"A. Amuthan","doi":"10.2139/SSRN.2413153","DOIUrl":"https://doi.org/10.2139/SSRN.2413153","url":null,"abstract":"One of the most disappointing features of the Ninth Plan was the declaration in agricultural growth, which set in after the mid 1990’s with GDP in agricultural growing at only around 2 per cent per annum after growing at 3.6 per cent per annum 6th 1980 and 1996.Reserving these declaration to achieve a growth target of 4 per cent per annum in agricultural GDP is a key element if the Eleventh Plan strategy for inclusive growth.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"82 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123143839","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}

{"title":"Analysis of the Evolution and Characterization of the Demand for Higher Education in Colombia","authors":"J. Mora, Carlos Giovanni Gonzales, Cecilia Albert","doi":"10.2139/SSRN.2039493","DOIUrl":"https://doi.org/10.2139/SSRN.2039493","url":null,"abstract":"The purpose of this paper is to provide a review of economic literature regarding theories that analyze the demand for higher education from a microeconomic perspective. Some of the noteworthy fundamental theories included in this review include Becker's (1983) theory of human capital and some of its major criticism. This paper also presents a theoretical discussion of the differences between mandatory and post-mandatory education (at a university level). Additionally, it discusses the determining factors of post-mandatory education in industrialized countries as compared with those in developing countries. The final comments and recent bibliographic references are provided at the end of the document.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115769045","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}

{"title":"Quality of Social Networks and Educational Investment Decisions","authors":"Blanca Zuluaga","doi":"10.2139/ssrn.1711707","DOIUrl":"https://doi.org/10.2139/ssrn.1711707","url":null,"abstract":"All individuals belong to a social network with certain quality level. This paper analyzes the role of the quality of the social network in the educational decision making process. We propose a measure for quality of network based on the schooling level and the labor position of the members of the net. Our analysis compares individuals who are similar in at least two characteristics: socioeconomic level and intellectual ability. Although they belong to the same type of community (poor), they differ in the composition of their social network. The higher the quality of the network, the higher the probability of investing in education. Hence, socially disadvantaged and equally intelligent individuals may end up acquiring different schooling levels.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131813401","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}

{"title":"New Developments in Education Demand: International Empirical Evidences","authors":"Carlos Giovanni Gonzales","doi":"10.2139/SSRN.1616261","DOIUrl":"https://doi.org/10.2139/SSRN.1616261","url":null,"abstract":"This paper reviews the main economic theories and international empirical applications that analyze demand for education. The document begins with a review of the theoretical background since the appearance of human capital theory proposed by Becker (1964), which made way to the emergence of the Economics of Education in the mid-twentieth century. The other theories that are reviewed have emerged around the proposed by Gary Becker and from them we can mention: the consumption model originally developed by Schaafsma (1976) and Lazear (1977), the current credentialist defended by authors such as Arrow (1973) and Spence (1973), institutionalist theory developed by Doering and Piore (1971) and Thurrow (1975), radical theories written by Bowles and Gintis (1975), the topic of the capabilities proposed by Sen (1999) and modern eclectic vision by Blaug (1976), Moreno (1998) and San Segundo (2001). The review of empirical applications focuses on models that analyze characteristics that influence the demand for post-compulsory education, because it is this demand for education where the person or his family have choice. Some of the characteristics that determine the demand for education are those of the individual, social background factors, the socioeconomic environment, skills and institutional environment, among others. Finally, the methodology commonly used for this kind of empirical studies is the Microeconometrics, especially discrete choice models estimated by the Maximum-Likelihood method.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117015657","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}

{"title":"Product Innovation and Adoption in Market Equilibrium: The Case of Digital Cameras","authors":"J. Carranza","doi":"10.2139/ssrn.1624251","DOIUrl":"https://doi.org/10.2139/ssrn.1624251","url":null,"abstract":"This paper studies the effect of competition on product innovation in the market for digital cameras during the years 1998 to 2001. The analysis is based on a structural dynamic model that is estimated and used to simulate the innovation behavior of firms in counterfactual environments. The model features heterogeneous consumers, who time optimally purchase goods, depending on the expected evolution of the prices and the characteristics of available cameras. On the supply side, firms introduce new camera models and choose their characteristics, accounting for the dynamic value of new products and the optimal dynamic behavior of consumers. The counterfactual simulations imply that an increase in competition in the industry would not have generated better products on average and, depending on the type of competition, would have generated products with lower average quality.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127971225","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}

{"title":"Mortgage Lending Underwriting Standards During the Housing Market Boom: Examiners' and Bankers' Views","authors":"Daniel E. Nolle","doi":"10.2139/ssrn.2317958","DOIUrl":"https://doi.org/10.2139/ssrn.2317958","url":null,"abstract":"It is by now widely acknowledged that the too-lenient trend in residential mortgage underwriting standards over the past half-dozen years was a key factor propelling the housing boom, and is a principal reason that the “bust” now underway has spiraled into a broad-based credit crisis. Importantly, comprehensive, economy-wide documentation for mortgage lending underwriting trends (as compared to institution-specific analysis) is sparse. Hence, although industry observers understand this fundamental basis for the current turmoil in the financial system, a clear accounting of the nature and scope of underwriting trends is lacking. Indeed, the Federal Reserve Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (“Senior Loan Officer Survey”) is the only well-known economy-wide source of data on mortgage underwriting trends. However, the Senior Loan Officer Survey provides a relatively limited gauge of those trends: the quantitative information it provides is simply the net percent of surveyed banks easing mortgage underwriting standards in a given quarter. The OCC has developed a tool that addresses the dearth of detailed knowledge about the nature and scope of mortgage lending underwriting by banks: the agency’s annual Survey of Credit Underwriting Practices (“Examiner Survey”). That survey, which collects responses from examiners on their views about national banks’ underwriting practices, contains a much broader and deeper set of information than the Federal Reserve survey of senior bankers. Although heretofore the agency has not done so, as this Staff Report shows, it is possible to compare examiners’ perspectives on mortgage underwriting trends, as reflected in the OCC’s survey, with bankers’ views on these trends, as reflected in the Federal Reserve survey. In addition, because the Examiner Survey includes detailed information on specific mortgage underwriting practices not covered by the Federal Reserve survey, analysis of the OCC data can yield insights about the mortgage market not available from the Senior Loan Officer Survey.The primary purpose of this Policy Analysis Staff Report is to provide the first systematic comparison of bankers’ perspectives on mortgage underwriting trends, as reflected in the well-known Senior Loan Officer Survey, with examiners’ perspectives reflected in the OCC’s underwriting survey. One major observation emerging from the analysis is that bankers’ and examiners’ assessments of mortgage underwriting trends were roughly consistent with each other, especially during 2004-2006, when both groups reported persistent easing. The main exception is for the late-2006-early-2007 period, when bankers claimed they tightened mortgage underwriting standards sharply. OCC examiners did not agree, seeing instead a slight, but nevertheless continuing, easing of mortgage lending standards. Were OCC examiners correct in their significantly different assessment at that point? In the absence of a comparable “third pa","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130267903","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}

{"title":"Migration Prospects of Youths Employed in Nigerian Cities","authors":"Oluyomi Ola-David, E. Amoo, O. Olurinola, T. Fadayomi","doi":"10.2139/ssrn.2513137","DOIUrl":"https://doi.org/10.2139/ssrn.2513137","url":null,"abstract":"This paper explores the challenge of youth employment in the Nigerian context with a bid to demonstrate interconnections among socio-economic characteristics and incessant youth migration. Univariate and multivariate analysis were carried out with the use of youth data (N=1353) culled from a survey of street traders in urban centres of Nigeria. The analysis results indicate gender, employment status, marital commitments, migrant status and mode of trading as statistically significant determinants of youth migration in search of better opportunities. Owing to the non-availability of desirable jobs for the educated youths, majority seek further migration from their current business locations in search of better job opportunities: both at home and abroad. In order to reduce the incidence of skilled migration we recommend that policy emphasis be placed on vocational and entrepreneurship training. Further, given the growing incidence of urbanization, we noted the crucial need for an employment-generating macroeconomic framework.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"121 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123660422","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}

{"title":"Generalized Method to Understanding Returns to Scale","authors":"Ratan Kirti","doi":"10.2139/ssrn.3229369","DOIUrl":"https://doi.org/10.2139/ssrn.3229369","url":null,"abstract":"Returns to scale is usually well understood in the case of a homogeneous production function while scholars tend to neglect the framework of the returns to scale on a practically significant basis, especially in case of non-homogeneous production function the idea of return to scale is quiet non-intuitive this paper successfully recognizes a simple method for the understanding of returns to scale under a general framework of the production function, and reflects upon the importance of simplification of the concept.","PeriodicalId":448796,"journal":{"name":"Universidad Icesi - School of Management & Economics Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125859238","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}