scholarly journals Political Price Cycles in Regulated Industries: Theory and Evidence

2013 ◽  
Vol 5 (1) ◽  
pp. 94-121 ◽  
Author(s):  
Rodrigo M. S Moita ◽  
Claudio Paiva
Keyword(s):  
Strong Evidence ◽  
Regulatory Process ◽  
Electricity Prices ◽  
Monthly Data ◽  
Political Interests ◽  
Regulated Industries

The early work of Stigler (1971) treats the regulatory process as the arbitration of conflicting economic and political interests rather than a pure welfare-maximizing effort. This paper builds on these ideas and models the regulatory process as a game where the industry-lobby, consumers-voters, and a regulator-politician interact to define the regulated price, in alternating electoral and non-electoral periods. The equilibrium that emerges consists of a fully rational political price cycle in a regulated industry. Using monthly data for regulated gasoline and electricity prices from Brazil, we find strong evidence pointing towards the existence of electoral price cycles in both markets. (JEL D72, L51, L71, L78, L94, L98, O14)

scholarly journals Comparison of profile total ozone from SBUV(v8.6) with GOME-type and ground-based total ozone for 16-yr period (1996 to 2011)

2013 ◽  
Vol 6 (6) ◽  
pp. 10081-10115 ◽  
Author(s):  
E. W. Chiou ◽  
P. K. Bhartia ◽  
R. D. McPeters ◽  
D. G. Loyola ◽  
M. Coldewey-Egbers ◽  
...  
Keyword(s):  
Strong Evidence ◽  
Total Ozone ◽  
Time Dependent ◽  
Total Column Ozone ◽  
Monthly Data ◽  
Latitude Band ◽  
Ozone Data ◽  
Standard Deviations ◽  
Column Ozone ◽  
Total Column

Abstract. This paper describes the comparison of the variability of total column ozone inferred from the three independent multi-year data records, namely, (i) SBUV(v8.6) profile total ozone, (ii) GTO(GOME-Type total ozone), and (iii) Ground-based total ozone data records covering the 16-yr overlap period (March 1996 through June 2011). Analyses are conducted based on area weighted zonal means for (0–30° S), (0–30° N), (50–30° S), and (30–60° N). It has been found that on average, the differences in monthly zonal mean total ozone vary between −0.32 to 0.76 % and are well within 1%. For "GTO minus SBUV", the standard deviations and ranges (maximum minus minimum) of the differences regarding monthly zonal mean total ozone vary between 0.58 to 0.66% and 2.83 to 3.82% respectively, depending on the latitude band. The corresponding standard deviations and ranges regarding the differences in monthly zonal mean anomalies show values between 0.40 to 0.59% and 2.19 to 3.53%. The standard deviations and ranges of the differences "Ground-based minus SBUV" regarding both monthly zonal means and anomalies are larger by a factor of 1.4 to 2.9 in comparison to "GTO minus SBUV". The Ground-based zonal means, while show no systematic differences, demonstrate larger scattering of monthly data compared to satellite-based records. The differences in the scattering are significantly reduced if seasonal zonal averages are analyzed. The trends of the differences "GTO minus SBUV" and "Ground-based minus SBUV" are found to vary between −0.04 and 0.12% yr−1 (−0.11 and 0.31 DU yr−1). These negligibly small trends have provided strong evidence that there are no significant time dependent differences among these multi-year total ozone data records. Analyses of the deviations from pre-1980 level indicate that for the overlap period of 1996 to 2010, all three data records show gradual recovery at (30–60° N) from −5% in 1996 to −2% in 2010. The corresponding recovery at (50–30° S) is not as obvious until after 2006.

Do Plants Overcomply with Water Pollution Regulations? The Role of Discharge Variability

2006 ◽  
Vol 6 (1) ◽  
Author(s):  
Sushenjit Bandyopadhyay ◽  
John Horowitz
Keyword(s):  
Water Pollution ◽  
Point Source ◽  
Strong Evidence ◽  
Safety Margin ◽  
Source Water ◽  
Monthly Data ◽  
Plant Level ◽  
Accurate Indicator

Abstract This paper uses previously unexploited data to examine polluters' compliance with point-source water pollution regulations, a line of inquiry motivated by widespread apparent overcompliance. We use a nationwide panel of monthly plant-level effluent concentrations from 1991-1999. These monthly data allow us to observe month-to-month variability in discharges and therefore to test hypotheses not previously examined.We find that plants that have higher discharge variability have lower median discharges. This is strong evidence for the purported "safety margin" effect. This result then implies that average discharges, a common measure of polluter behavior, are not an accurate indicator of polluter behavior.In response, we construct a plant-specific implied probability of a violation that accounts for discharge variability. We show that plants in richer communities have lower violation probabilities. We further argue that plants are indeed overcomplying with the regulations even when accounting for the safety margin effect.

EVALUATION OF MALAYSIAN CAPITAL CONTROLS IN THE SHORT, MEDIUM, AND LONG RUNS

2009 ◽  
Vol 54 (02) ◽  
pp. 233-247 ◽  
Author(s):  
KANNIKA DAMRONGPLASIT
Keyword(s):  
Strong Evidence ◽  
Capital Controls ◽  
Difference In Difference ◽  
Monthly Data ◽  
Imf Programs ◽  
The Imf

This paper uses monthly data starting from January 1993 until June 2005 to assess the effectiveness of capital controls in restoring the Malaysian economy as compared to the IMF programs in Indonesia, Korea, and Thailand. We analyse various aspects of the economy by employing time-shifted difference-in-difference estimation. To evaluate the effects in the short, medium, and long runs, this study takes into account one to six years of treatment periods. Our estimation results provide strong evidence in favor of capital controls as a more effective crisis solution than the IMF programs in the short and medium runs.

scholarly journals Evidence of Morocco Industry Long-Term Return Contrarian

2015 ◽  
Vol 11 (1) ◽  
pp. 216
Author(s):  
Omar Gharaibeh
Keyword(s):  
Strong Evidence ◽  
Monthly Data ◽  
Stock Level ◽  
Industry Level

<p>In a landmark paper, Bornholt, Gharaibeh, and Malin (2015) show strong evidence of contrarian in the long-term returns of U.S. industries over formation periods (up to 132 months), this paper investigates whether there is evidence of contrarian in the long-term returns of 17 Morocco industries using monthly data covering the period from January 1995 to April 2014. This study finds strong evidence of long-term return contrarian in industry returns from strategy with long formation period lengths of 108, 120 and 132 months and this finding confirms the Bornholt et al. (2015) finding. The finding of this paper suggests that industry-level return contrarian is not simply a reflection of the stock-level contrarian. These contrarians are difficult to reconcile with overreaction.</p><p> </p>

scholarly journals Comparison of profile total ozone from SBUV (v8.6) with GOME-type and ground-based total ozone for a 16-year period (1996 to 2011)

2014 ◽  
Vol 7 (6) ◽  
pp. 1681-1692 ◽  
Author(s):  
E. W. Chiou ◽  
P. K. Bhartia ◽  
R. D. McPeters ◽  
D. G. Loyola ◽  
M. Coldewey-Egbers ◽  
...  
Keyword(s):  
Strong Evidence ◽  
Total Ozone ◽  
Gradual Increase ◽  
Time Dependent ◽  
Total Column Ozone ◽  
Monthly Data ◽  
Ozone Data ◽  
Standard Deviations ◽  
Column Ozone ◽  
Total Column

Abstract. This paper describes the comparison of the variability of total column ozone inferred from the three independent multi-year data records, namely, (i) Solar Backscatter Ultraviolet Instrument (SBUV) v8.6 profile total ozone, (ii) GTO (GOME-type total ozone), and (iii) ground-based total ozone data records covering the 16-year overlap period (March 1996 through June 2011). Analyses are conducted based on area-weighted zonal means for 0–30° S, 0–30° N, 50–30° S, and 30–60° N. It has been found that, on average, the differences in monthly zonal mean total ozone vary between −0.3 and 0.8 % and are well within 1%. For GTO minus SBUV, the standard deviations and ranges (maximum minus minimum) of the differences regarding monthly zonal mean total ozone vary between 0.6–0.7% and 2.8–3.8% respectively, depending on the latitude band. The corresponding standard deviations and ranges regarding the differences in monthly zonal mean anomalies show values between 0.4–0.6% and 2.2–3.5%. The standard deviations and ranges of the differences ground-based minus SBUV regarding both monthly zonal means and anomalies are larger by a factor of 1.4–2.9 in comparison to GTO minus SBUV. The ground-based zonal means demonstrate larger scattering of monthly data compared to satellite-based records. The differences in the scattering are significantly reduced if seasonal zonal averages are analyzed. The trends of the differences GTO minus SBUV and ground-based minus SBUV are found to vary between −0.04 and 0.1% yr−1 (−0.1 and 0.3 DU yr−1). These negligibly small trends have provided strong evidence that there are no significant time-dependent differences among these multi-year total ozone data records. Analyses of the annual deviations from pre-1980 level indicate that, for the 15-year period of 1996 to 2010, all three data records show a gradual increase at 30–60° N from −5% in 1996 to −2% in 2010. In contrast, at 50–30° S and 30° S–30° N there has been a levelling off in the 15 years after 1996. The deviations inferred from GTO and SBUV show agreement within 1%, but a slight increase has been found in the differences during the period 1996–2010.

To File or Not to File? How EEOC Claims Change with the Economy

2020 ◽  
Vol 45 (3) ◽  
pp. 296-318
Author(s):  
Rusty Juban ◽  
Lara Gardner
Keyword(s):  
Sexual Harassment ◽  
Strong Evidence ◽  
Equal Employment Opportunity Commission ◽  
Equal Employment Opportunity ◽  
Employment Opportunity ◽  
Economic Conditions ◽  
Economic Variables ◽  
Monthly Data ◽  
Individual Variables ◽  
The U.S

Discrimination and sexual harassment are pervasive problems in today’s organizations. Traditionally, individual variables such as justice and power are used to study an employee’s response to discrimination or sexual harassment. In this study, we propose the use of economic variables (unemployment and economic health) to explain when an individual is more likely to make a discrimination or sexual harassment charge. Using monthly data from the U.S. Equal Employment Opportunity Commission on discrimination charges, we find there is strong evidence that U.S. economic conditions play an important role in the number and types of complaints filed.

scholarly journals INVESTOR SENTIMENT CONNECTEDNESS: EVIDENCE FROM LINEAR AND NONLINEAR CAUSALITY APPROACHES

2021 ◽  
Author(s):  
AVIRAL KUMAR TIWARI ◽  
DEVEN BATHIA ◽  
ELIE BOURI ◽  
RANGAN GUPTA
Keyword(s):  
Latin America ◽  
Strong Evidence ◽  
Structural Breaks ◽  
Global Financial Crisis ◽  
Investor Sentiment ◽  
Time Varying ◽  
Causality Test ◽  
Monthly Data ◽  
The Us ◽  
Linear And Nonlinear

This paper provides a novel perspective in determining the Granger causality of sentiment across the US, Latin America, Eurozone, Japan and Asia (excluding Japan), based on monthly data covering the period of January 2003–November 2017. Using a survey-based sentiment index of “sentix”, our results suggest strong evidence of nonlinearity and structural breaks making the use of linear causality models unreliable. Using a kernel-based multivariate nonlinear causality test, we find that causality runs from Eurozone to the US, Asia and Japan, with Japan also causing the Eurozone sentiment, and Latin America causing the Japanese sentiment. Interestingly, when we apply rolling estimations to detect time-varying causality for the cases of Eurozone and the US, Eurozone and Asia, Eurozone and Japan and Latin America and Japan, the results suggest evidence of bidirectional spillovers during certain months of the recent global financial crisis, and thereafter. Overall, our findings indicate that the sentiments of Japan, Asia and the US are related quite strongly with that of the Eurozone, as well as the sentiments of Japan and Latin America.

Concurrent Electrodermal and Eyeblink Conditioning With Masked and Unmasked Stimuli

2021 ◽  
Vol 35 (1) ◽  
pp. 35-42
Author(s):  
José Luis Marcos ◽  
Azahara Marcos
Keyword(s):  
Unconditioned Stimulus ◽  
Strong Evidence ◽  
Eyeblink Conditioning ◽  
Noise Burst ◽  
Conditioning Phase ◽  
Contingency Awareness ◽  
Blank Screen ◽  
Neutral Face ◽  
Fearful Face

Abstract. The aim of this study was to determine if contingency awareness between the conditioned (CS) and unconditioned stimulus (US) is necessary for concurrent electrodermal and eyeblink conditioning to masked stimuli. An angry woman’s face (CS+) and a fearful face (CS−) were presented for 23 milliseconds (ms) and followed by a neutral face as a mask. A 98 dB noise burst (US) was administered 477 ms after CS+ offset to elicit both electrodermal and eyeblink responses. For the unmasking conditioning a 176 ms blank screen was inserted between the CS and the mask. Contingency awareness was assessed using trial-by-trial ratings of US-expectancy in a post-conditioning phase. The results showed acquisition of differential electrodermal and eyeblink conditioning in aware, but not in unaware participants. Acquisition of differential eyeblink conditioning required more trials than electrodermal conditioning. These results provided strong evidence of the causal role of contingency awareness on differential eyeblink and electrodermal conditioning.

Sign in / Sign up

Export Citation Format

Share Document