scholarly journals Determinants of the Demand for Manpower Training : Some Empirical Results

2005 ◽  
Vol 30 (3) ◽  
pp. 424-435
Author(s):  
L. R. Truesdell
Keyword(s):  
Empirical Results ◽  
Seasonal Factors ◽  
Short Run ◽  
Functional Forms

The author develops a short-run model for the demand of manpower training. It is shown that the short-run demand for manpower training is sensitive to the levels of unemployment as well as to seasonal factors. Various functional forms are also investigated

Give it Away Now: An Explanation of the Empirical Results of the Ultimatum and Centipede Games

2017 ◽  
Author(s):  
Liam Mulligan
Keyword(s):  
Perceived Fairness ◽  
Practical Applications ◽  
Labour Relations ◽  
Empirical Results ◽  
Long Run ◽  
Making Choices ◽  
Short Run ◽  
Future Consequences ◽  
The City ◽  
Rational Players

Economics defines individual rationality as consumers making choices that maximize their utility in anticipation of the future consequences of these choices.  In theory, a consumer will take his or her income and allocate it towards purchases that maximize his or her utility given his or her stable of reasonably static preferences (in the short run) and estimated changes to preferences in the long run.  In order for an agent to maximize his or her utility, the agent must also maximize his or her income.   However, behavioural studies on human decisions in economic games (game theory) have shown that consumers do not always maximize their income.  Two games in particular (Ultimatum and Centipede) have demonstrated that seemingly rational players may not maximize income, whether for perceived fairness, justice, or punishment.  Practical applications of these results are observed in labour relations when striking unionized employees earn less with a labour stoppage than they would have if they had avoided losing time at work.  Specifically, a seven week strike in 2008 by CUPE Local 855 (Kawartha Lakes) is examined.  It is determined that all four job types in the City of Kawartha Lakes Children’s Services department lost income because of the strike.  Reasoning and empirical results from both the Ultimatum and Centipede games will be used to explain the Union’s decision to strike and to strike for as long as they did

scholarly journals Autocratic Survival Strategies: Does Oil Make a Difference?

2019 ◽  
Vol 25 (2) ◽  
Author(s):  
Phoebe W. Ishak
Keyword(s):  
Public Spending ◽  
Authoritarian Regimes ◽  
Survival Strategies ◽  
Mass Violence ◽  
Empirical Results ◽  
Short Run ◽  
Fiscal Space ◽  
Oil Wealth ◽  
Imminent Threat

AbstractThis paper examines the behavior of dictators when faced by an imminent threat of being overthrown in oil abundant countries. In the short run, the dictator’s survival strategies is argued to be confined to public spending and repression, whereas the choice of their levels is conditional upon the intensity of the mass threat (i.e. civil protest vs. mass violence) and the size of oil wealth. The empirical results indicate a possibility of mixing between spending and repression, and that oil wealth allows for differences in their employed levels in face of the same threat. Using a dataset of authoritarian regimes in 88 countries from 1981 to 2006, I found that mass violence is handled through increasing both spending and repression, whereas civil protest is only met by repression. Furthermore, greater oil wealth is found to provide a wider fiscal space to relatively increase spending, but only at low and intermediate levels of mass threats. As the threats intensify, the effect of oil wealth dissipates and oil wealth dictatorships behave the same as their non-oil wealth counterparts.

The Volatility for Pre and Post Global Financial Crisis

2011 ◽  
Vol 2 (2) ◽  
pp. 82-95
Author(s):  
Shih-Yung Wei ◽  
Jack J. W. Yang ◽  
Jen-Tseng Chen ◽  
Wei-Chiang Samuelson Hong
Keyword(s):  
Hong Kong ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Asset Returns ◽  
Financial Asset ◽  
Asymmetric Volatility ◽  
Empirical Results ◽  
Long Run ◽  
Short Run ◽  
Financial Asset Returns

The asymmetric volatility, temporary volatility, and permanent volatility of financial asset returns have attracted much interest in recent years. However, a consensus has not yet been reached on the causes of them for both the stocks and markets. This paper researched asymmetric volatility and short-run and long-run volatility through global financial crisis for eight Asian markets. EGARCH and CGARCH models are employed to deal with the daily return to examine the degree of asymmetric volatility (temporary volatility and permanent volatility). The authors find that after global financial crisis asymmetric volatility is lower (expect Hong Kong), and the long-run effect is more than the short-run effect. The empirical results for the short-run show that, after global financial crisis, there is significant decreasing in China and Taiwan but not in Japan; the others are significantly increasing. For the long-run, there is significant decreasing (except Thailand and Korea).

scholarly journals Employment Expectations and Labour Force Participation in Canada

2005 ◽  
Vol 29 (2) ◽  
pp. 320-331
Author(s):  
Arthur Donner ◽  
Fred Lazar
Keyword(s):  
Labour Market ◽  
Labour Supply ◽  
Labour Force ◽  
Labour Force Participation ◽  
Traditional Model ◽  
Empirical Results ◽  
Short Run ◽  
Market Expectations

This paper incorporates a role for expectations in the short-run behavior of labour supply decision, presents a theory introducing labour market expectations as a variable influencing labour supply, and discusses the relative merits of the expectations model vis-à-vis the traditional model using the empirical results derived in this work.

scholarly journals Asymmetric Price Transmission of World Prices to Kenyan Tea Market

2020 ◽  
Author(s):  
Vincent Ngeno
Keyword(s):  
Price Transmission ◽  
Asymmetric Adjustment ◽  
Close Link ◽  
Empirical Results ◽  
Current Period ◽  
Long Run ◽  
Asymmetric Price Transmission ◽  
The World ◽  
Domestic Prices ◽  
Short Run

Abstract The use of asymmetrical threshold cointegration test is adopted in this study to investigate whether any significant relationship or asymmetric adjustment exists in transmission of prices between the world tea market and domestic prices in Kenya. The empirical results obtained are as follows. First, we verify a close link between the Kenya’s tea price and its international counterparts under the current period of market liberalization. Second, empirical results demonstrate that in both long run and short run, the price transmission between world tea market and Kenyan domestic market are nonlinear and asymmetric, suggesting long run and short run dynamic inefficiencies and presence of transaction costs.JEL classification: C32, Q13, Q17

scholarly journals FDI Asymmetries in Emerging Economies: The Case of Colombia

2019 ◽  
Vol 11 (8) ◽  
pp. 35
Author(s):  
Jose U. Mora ◽  
Celso J. Costa Junior
Keyword(s):  
Emerging Economies ◽  
Adjustment Costs ◽  
Nominal Wage ◽  
Real Output ◽  
Empirical Results ◽  
Capital Adjustment ◽  
Long Run ◽  
Price Rigidities ◽  
Short Run ◽  
Distribution Of Income

We build a DSGE model to study the asymmetries of FDI shocks in an economy like Colombia. Besides nominal wage and price rigidities, we use the fact that Colombia has two productive and differentiated regions, Bogota that produces more than 25% of Colombia GDP (DANE, 2016) and the rest of the country, Ricardian and non-Ricardian agents, habit formation, capital adjustment costs, and modeled an entire foreign sector. Empirical results show that even when in the long run results are not very different in terms of real output, the short run effects are asymmetric implying that a shock to FDI in the rest of the country might cause important microeconomic adjustments that could improve the distribution of income throughout the country.

The Empirical Calibration and Testing of a Simulation Model of Residential Location

1975 ◽  
Vol 7 (8) ◽  
pp. 899-920 ◽  
Author(s):  
A Anas
Keyword(s):  
Simulation Model ◽  
Residential Location ◽  
Microeconomic Theory ◽  
Empirical Results ◽  
Adjustment Mechanism ◽  
Wilson Model ◽  
Empirical Calibration ◽  
Short Run ◽  
Locational Behavior

This paper summarizes the results obtained from the empirical calibration of a model of residential location proposed in a previous paper. The model is compared with the short-run versions of two other models of residential location based on the microeconomic theory of locational behavior (the Herbert—Stevens model and the Senior—Wilson model). The empirical results and the testing of the rent-adjustment mechanism are discussed.

scholarly journals The Dynamic Effects of Growth, Financial Development and Trade Openness on Tax Revenue in Malaysia

2020 ◽  
Vol 21 (1) ◽  
pp. 42-62
Author(s):  
Nanthakumar Loganathan ◽  
Norsiah Ahmad ◽  
Thirunaukarasu Subramaniam
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Trade Openness ◽  
Tax Revenue ◽  
Tax Collection ◽  
Empirical Results ◽  
Long Run ◽  
Rolling Window ◽  
Short Run ◽  
Sustainable Economic Growth

This study explores the effects of domestic financial development, growth and trade openness on tax collection for Malaysia using the ARDL and bootstrap rolling window estimates covering the period 1970-2017. The empirical results suggest that, the presence oflong-run relationship between tax revenue and per capita GDP and short-run relationship between tax collection, economic growth, financial development and trade openness. We foundthatthere is a short-run unidirectional causality running between tax collection, economic growth and financial development. This result suggests that, in the long-run, economic performance and financial development have an adverse effect on tax collection, while trade openness has no significant causality impact on tax collection in Malaysia. Based on the empirical results of the study, the country should pay more attention to enhance the effectiveness of future public expenditure programs and put more emphasisson dynamic fiscal policy targeting on tax reform and securing new sourcesof tax revenues to ensure continuous flow of long-term tax revenue coupled with sustainable economic growth, trade and financial performances in up-coming years.

Implied Risk Preferences from Option Prices: Evidence from KOSPI 200 Index Options

2008 ◽  
Vol 16 (2) ◽  
pp. 1-35
Author(s):  
Byung Jin Kang ◽  
Tong Suk Kim ◽  
Sun Joong Yoon
Keyword(s):  
Risk Aversion ◽  
Risk Premium ◽  
Option Prices ◽  
Estimation Errors ◽  
Asset Return ◽  
Empirical Results ◽  
Internal Inconsistency ◽  
Functional Forms ◽  
Time Invariant ◽  
Index Option

In this paper, we investigated the risk averse ness of KOSPI 200 option investors with very flexible risk preference structure. Contrary to the most of previous research either assuming a time-invariant underlying asset return distribution or assuming a well-known functional form for the underlying utility functions. we directly assume functional forms for Investors’risk aversion functions. With the direct specification on the risk aversion functions themselves. we can avoid the possibility 이 suffering from Internal inconsistency and of obtaining misleading risk aversion functions. From our empirical results using KOSPI 200 Index option prices from 1997 through 2006. we discovered that the investors' relative risk aversions exhibit ‘sharply decreasing' across wealth. In addition, our Implied subjective PDFs are found to more accurately forecast the distribution of realization than both the risk neutral PDFs and implied subjective PDFs from previous methods. For the robustness of our empirical results, we test the effects of estimation errors In the expected risk premium, and of financial crisis in the late of 1990s.

A TIMEWISE SPECIFICATION SENSITIVE LOOK AT MONEY DEMAND: AN ANALYSIS OF US DATA

2007 ◽  
Vol 03 (01) ◽  
pp. 0750003
Author(s):  
ISMAIL GENC
Keyword(s):  
Money Demand ◽  
Clear Distinction ◽  
Long Run ◽  
Short Run ◽  
Functional Forms

This paper analyses the money demand relationship with a clear distinction in the functional forms of short- and long-run. It is shown that there is a long-run relationship between money and income, and that money demand declines after a certain level of income is achieved in the short-run. Demand tends to converge to its long-run levels. Credit has a negative but statistically insignificant impact on money demand.

Sign in / Sign up

Export Citation Format

Share Document