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Monetary versus Non-Monetary Pro-Poor Growth: Evidence from Rural Ethiopia between 2004 and 2009 有利于贫困人口的货币与非货币增长:2004年至2009年埃塞俄比亚农村的证据
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2013-06-07 DOI: 10.5018/economics-ejournal.ja.2013-26
Rami Ben Haj Kacem
{"title":"Monetary versus Non-Monetary Pro-Poor Growth: Evidence from Rural Ethiopia between 2004 and 2009","authors":"Rami Ben Haj Kacem","doi":"10.5018/economics-ejournal.ja.2013-26","DOIUrl":"https://doi.org/10.5018/economics-ejournal.ja.2013-26","url":null,"abstract":"Abstract The aim of this paper is to contribute to the debate on the pro-poor growth measurement techniques using monetary versus non-monetary indicators. In this context, an alternative method for introducing non-monetary indicators into monetary pro-poor growth analysis is presented. The method is based on the definition of a “Conditional Growth Incidence Curve” for each group of households with a common selected non-monetary characteristic. Additional information provided by the “Conditional Growth Incidence Curve” is useful for a more detailed pro-poor growth analysis. Empirical illustration using data from rural Ethiopia between 2004 and 2009 shows the utility and the limits of each measurement technique.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"7 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70659578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Asymmetric Exchange Rate Pass-Through in the Euro Area: New Evidence from Smooth Transition Models 欧元区的非对称汇率传递:来自平稳过渡模型的新证据
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2012-10-26 DOI: 10.5018/economics-ejournal.ja.2012-39
Nidhaleddine Ben Cheikh
{"title":"Asymmetric Exchange Rate Pass-Through in the Euro Area: New Evidence from Smooth Transition Models","authors":"Nidhaleddine Ben Cheikh","doi":"10.5018/economics-ejournal.ja.2012-39","DOIUrl":"https://doi.org/10.5018/economics-ejournal.ja.2012-39","url":null,"abstract":"Abstract This paper examines the presence of asymmetric behavior in exchange rate passthrough (ERPT) to CPI inflation in 12 euro area (EA) countries. Using a class of nonlinear smooth transition models, the author tests for asymmetry with respect to the direction and the magnitude of exchange rate changes. On the one hand, the author finds only 5 out of 12 EA countries showing asymmetric pass-through related to exchange rate appreciations and depreciations. Results are somewhat mixed with no clear evidence about the direction of asymmetry. On the other hand, the author reports strong evidence that ERPT responds asymmetrically to the size of exchange rate changes as a result of presence of menu costs. The degree of ERPT is found to be higher for large exchange rate changes than for small ones in 9 out of 12 EA countries.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.5018/economics-ejournal.ja.2012-39","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70659505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 34
Irrelevance of Competitive Advantage for the Benefits of International Trade 竞争优势与国际贸易利益的不相关性
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2012-09-03 DOI: 10.2174/1874919401205010015
E. Siggel
{"title":"Irrelevance of Competitive Advantage for the Benefits of International Trade","authors":"E. Siggel","doi":"10.2174/1874919401205010015","DOIUrl":"https://doi.org/10.2174/1874919401205010015","url":null,"abstract":"International competitiveness is often regarded as crucial for the attainment of gains from trade, which may lead policy makers to subsidize exports. This view is based on confusion between the concepts of competitive and comparative advantage. The paper argues that when comparative advantage is defined and measured appropriately, not limiting it to the Ricardian and Heckscher-Ohlin models, it becomes a necessary condition for the attainment of gains from trade and it applies to all forms of trade that lead to economy-wide gains. The paper proceeds by reviewing first the concepts and measurements of comparative and competitive advantage. It shows that in order to result in economy-wide benefits, known as gains from trade, trade needs to be based on comparative advantage. It also points to implications for the design of trade and industrial policies.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"297 1","pages":"15-20"},"PeriodicalIF":0.0,"publicationDate":"2012-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86758193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Impact of Institutional Arrangements on Educational Efficiency 制度安排对教育效率的影响
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2012-06-21 DOI: 10.2174/1874919401205010001
Trevor Collier
{"title":"The Impact of Institutional Arrangements on Educational Efficiency","authors":"Trevor Collier","doi":"10.2174/1874919401205010001","DOIUrl":"https://doi.org/10.2174/1874919401205010001","url":null,"abstract":"Per pupil expenditures on education in the United States have grown immensely in recent decades, yet student achievement has been stagnant. An abundance of research has sought to solve this enigma, much of it centered on the incentive structure facing administrators. Some recent papers use TIMSS data to analyze the relationship between institutional arrangements—that typically do not vary within a single country—and student achievement. Similarly, we utilize TIMSS 1999 to determine if there is an indirect relationship between institutional arrangements and student achievement, via a relationship with school efficiency. Our results show that the specified link between institutional arrangements and student achievement (direct or indirect) is important in certain instances and confirm evidence found in previous research that certain arrangements are beneficial or detrimental to student achievement, regardless of the specification chosen.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"9 1","pages":"1-14"},"PeriodicalIF":0.0,"publicationDate":"2012-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82953561","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Hospital Costs and Unexpected Demand: The Case of Greece § 医院费用和意外需求:以希腊为例
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2011-12-14 DOI: 10.2174/1874919401104010049
Zoe Boutsioli
{"title":"Hospital Costs and Unexpected Demand: The Case of Greece §","authors":"Zoe Boutsioli","doi":"10.2174/1874919401104010049","DOIUrl":"https://doi.org/10.2174/1874919401104010049","url":null,"abstract":"Demand for hospital inpatient care varies in a consistent way. However, a part of this variability is unpredictable. Hospitals react to this situation by holding standby capacity in order to be prepared to meet unanticipated surges in demand. This paper examines the production responses to unexpected hospital demand on a sample of Greek public hospitals over the period 2001-2005. The hospital output is measured by the number of inpatient admissions, distinguishing them into elective and emergency. The unexpected demand is measured as the difference between actual emergency admissions and forecasted emergency admissions using an Autoregressive Moving Average model. The results support the hypothesis that production reactions to unexpected demand have a significant impact on hospital costs.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"2 1","pages":"49-58"},"PeriodicalIF":0.0,"publicationDate":"2011-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90497984","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Government Ideology, Democracy and the Sacrifice Ratio: Evidence from Latin American and Caribbean Disinflations 政府意识形态、民主与牺牲比率:来自拉丁美洲和加勒比地区通货紧缩的证据
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2011-02-09 DOI: 10.2174/1874919401104010039
Tony Caporale
{"title":"Government Ideology, Democracy and the Sacrifice Ratio: Evidence from Latin American and Caribbean Disinflations","authors":"Tony Caporale","doi":"10.2174/1874919401104010039","DOIUrl":"https://doi.org/10.2174/1874919401104010039","url":null,"abstract":"This study uses a sample of 34 disinflations undertaken by thirteen Latin American and Caribbean (LAC) nations to test if political institutions impact the cost of policy induced disinflations. We find, after controlling for several of the most important covariates in the literature, that disinflations are less costly for right vs left governments and that sacrifice ratios are lower for more democratic vs authoritarian governmental regimes. This is robust to different measures of government ideology as well as to alternative ways of computing the sacrifice ratio and lends support for political economy literature which argues that political institutions have significant macroeconomic effects.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"30 1","pages":"39-43"},"PeriodicalIF":0.0,"publicationDate":"2011-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85845649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Managed Floats to Damp World-Wide Exchange Rate Liquidity Shocks Like 1982-5, 2006-9: Field and Laboratory Evidence for the Benefits of a Single World Currency 管理浮动以抑制全球汇率流动性冲击，如1982-5,2006-9:单一世界货币好处的现场和实验室证据
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2011-01-21 DOI: 10.2174/1874919401104010001
R. Pope, R. Selten
{"title":"Managed Floats to Damp World-Wide Exchange Rate Liquidity Shocks Like 1982-5, 2006-9: Field and Laboratory Evidence for the Benefits of a Single World Currency","authors":"R. Pope, R. Selten","doi":"10.2174/1874919401104010001","DOIUrl":"https://doi.org/10.2174/1874919401104010001","url":null,"abstract":"This paper's field evidence is: (1) in reality a major exchange rate change devastates an economy, i.e. the widespread academic faith that exchange rate changes are either beneficial or harmless is a false faith that contributes to needless world-wide economic havoc; (2) the 1982-85 exchange rate liquidity crisis sent much of the third world into unmanageable debt levels and was so devastating for the first world that in 1985 the G5 instituted managed cooperating floats; (3) nearly all economists in the official sector and in academe rapidly forgot the devastation and reverted to advocating what caused that devastation, namely a closed economy clean floats exchange rate perspective; and (4) the 2006-2008/9 exchange rate liquidity shock would have been far more drastic but for central bank currency swaps yet the role of these swaps in averting unmanageable exchange rate mayhem that would have precluded the September 2008 rescue of the world financial system, has been ignored. The field evidence thus decisively favours stabilizing managed floats, or better a single world currency, and a means of preventing economists in official sectors and in academe forgetting the devastation and dangers of multiple currencies. This field evidence is bolstered by a laboratory experiment. The experiment incorporates more aspects of real world complexity and more different sorts of official and private sector agents than other investigations and employs a new central bank cooperation-conflict model of exchange rate determination. The experiment allows an interpretation within an umbrella theory of Pope, namely SKAT, the Stages of Knowledge Ahead Theory.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"13 1","pages":"1-38"},"PeriodicalIF":0.0,"publicationDate":"2011-01-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87084389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Tougher Educational Exam Leading to Worse Selection 更难的教育考试导致更糟糕的选择
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2011-01-01 DOI: 10.5018/ECONOMICS-EJOURNAL.JA.2011-17
Eduardo Andrade, L. I. Castro
{"title":"Tougher Educational Exam Leading to Worse Selection","authors":"Eduardo Andrade, L. I. Castro","doi":"10.5018/ECONOMICS-EJOURNAL.JA.2011-17","DOIUrl":"https://doi.org/10.5018/ECONOMICS-EJOURNAL.JA.2011-17","url":null,"abstract":"A parallel of education with transformative processes in standard markets suggest that a more severe control of the quality of the output will improve the overall quality of the education. This paper shows a somehow counterintuitive result: an increase in the exam difficulty may reduce the average quality (productivity) of selected individuals. Since the exam does not verify all skills, when its standard rises, candidates with relatively low skills emphasized in the test and high skills demanded in the job may no longer qualify. Hence, an increase in the testing standard may be counterproductive. One implication is that policies should emphasize alignment between the skills tested and those required in the actual jobs, rather than increase exams' difficulties.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"5 1","pages":"1-24"},"PeriodicalIF":0.0,"publicationDate":"2011-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70659660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Lucas on the Relationship between Theory and Ideology 卢卡斯论理论与意识形态的关系
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2011-01-01 DOI: 10.5018/ECONOMICS-EJOURNAL.JA.2011-4
M. D. Vroey
{"title":"Lucas on the Relationship between Theory and Ideology","authors":"M. D. Vroey","doi":"10.5018/ECONOMICS-EJOURNAL.JA.2011-4","DOIUrl":"https://doi.org/10.5018/ECONOMICS-EJOURNAL.JA.2011-4","url":null,"abstract":"This paper concerns a neglected aspect of Lucas’s work: his methodological writings, published and unpublished. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas’s non-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of this conception. In the next two sections, I debate whether Lucas adheres to two methodological principles that I dub the ‘non-interference’ precept (the proposition that ideological viewpoints should not influence theory), and the ‘non-exploitation’ precept (that the models’ conclusions should not be transposed into policy recommendations, in so far as these conclusions are built into the models’ premises). The last part of the paper contains my assessment of Lucas’s ideas. First, I bring out the extent to which Lucas departs from the view held by most specialized methodologists. Second, I wonder whether the new classical revolution resulted from a political agenda. Third and finally, I claim that the tensions characterizing Lucas’s conception of theory follow from his having one foot in the neo- Walrasian and the other in the Marshallian-Friedmanian universe.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"5 1","pages":"1-39"},"PeriodicalIF":0.0,"publicationDate":"2011-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.5018/ECONOMICS-EJOURNAL.JA.2011-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70659826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 17
Does the London Metal Exchange Follow a Random Walk? Evidence from the Predictability of Futures Prices 伦敦金属交易所遵循随机漫步吗?来自期货价格可预测性的证据
4区 经济学
Economics-The Open Access Open-Assessment E-Journal Pub Date : 2010-06-10 DOI: 10.2174/1874919401003010025
S. Otto
{"title":"Does the London Metal Exchange Follow a Random Walk? Evidence from the Predictability of Futures Prices","authors":"S. Otto","doi":"10.2174/1874919401003010025","DOIUrl":"https://doi.org/10.2174/1874919401003010025","url":null,"abstract":"This paper analyses the validity of the weak-form market efficiency, using the random-walk hypothesis for the six industrial base metals - copper, aluminium, zinc, nickel, tin and lead - traded at the London Metal Exchange. I analyse the behaviour of daily and weekly prices of the daily rolling three-month futures contracts, as these contracts exhibit the highest level of trading activity. In contrast to other efficient-market studies, the efficiency of futures prices is not tested as an unbiased predictor of the spot prices but from the predictability of futures prices themselves. I focus on the post-Tin Crisis period of 1989 to 2007. My test methodology includes the Box & Pierce Q-statistics, variance ratio tests by Lo and MacKinlay with homoscedastic and heteroscedastic test estimates, nonparametric ranks- and signs-based variance ratio tests by Wright and wild bootstrapping variance ratio tests by Kim. My sample basis fails to reject the random-walk hypothesis for all base metal futures except for lead.","PeriodicalId":53338,"journal":{"name":"Economics-The Open Access Open-Assessment E-Journal","volume":"85 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2010-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79354058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
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