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| Registros recuperados: 10 | |
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| Scott, K. Rebecca. |
| The combination of habits and a forward outlook suggests that consumers will be sensitive not just to prices but to price dynamics. In particular, rational habits models suggest 1. that price volatility and uncertainty will reduce demand for a habit-forming good and 2. that such volatility will dampen demands responsiveness to price. These two implications can be tested by augmenting a traditional partial-adjustment or error-correction model of demand. I apply this augmented model to data on gasoline consumption, as rational habits provide a succinct representation for the investment and behavioral decisions that determine gasoline usage. The trade-o¤s among 2SLS, system GMM, and pooled mean group (PMG) estimators are considered, and my preferred PMG... |
| Tipo: Working Paper |
Palavras-chave: Gasoline demand; Rational habits; Price elasticity; Research Methods/ Statistical Methods; H30; Q40; Q41; Q50; R40. |
| Ano: 2012 |
URL: http://purl.umn.edu/122891 |
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| Stark, Oded; Hyll, Walter; Wang, Yong. |
| This paper considers a setting in which the acquisition of human capital entails a change of location in social space that causes individuals to revise their comparison groups. Skill levels are viewed as occupational groups, and moving up the skill ladder by acquiring additional human capital, which in itself is rewarding, leads to a shift in the individual’s inclination to compare himself with a different, and on average better-paid, comparison group, which in itself is penalizing. The paper sheds new light on the dynamics of human capital formation, and suggests novel policy interventions to encourage human capital formation in the aggregate and, at the same time, reduce inter-group income inequality. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Human capital formation; Skill levels as occupational groups; Interpersonal comparisons; Relative deprivation; Tax policy; Subsidization; Labor and Human Capital; D11; H24; H30; J24. |
| Ano: 2011 |
URL: http://purl.umn.edu/99415 |
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| Tan, Eu Chye. |
| This paper primarily seeks to establish whether long- and short-run relationships prevail between fiscal deficits on one hand and inflation and economic growth on the other in a developing economy such as Malaysia. The Malaysian economy has gained international acclaim as one of the successfully managed. Econometric methodology involving the Johansen cointegration and Granger causality techniques and annual data spanning generally from 1966 through 2003 have been mobilized for the purpose. The empirical results suggest that fiscal deficits could have an inflationary impact on the Malaysian economy as they are being monetized though no long run relationship exists amongst fiscal deficits, money supply and the price level. Fiscal deficits also appear to have... |
| Tipo: Journal Article |
Palavras-chave: Deficits; Growth; Inflation; International Development; E60; H30; H61; H62. |
| Ano: 2006 |
URL: http://purl.umn.edu/50285 |
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| Xayavong, Vilaphonh; Gounder, Rukmani; Obben, James. |
| This paper re-examines the theoretical aid-growth nexus by expounding on the issues relating to policies designed for aid delivery and the lack of aid recipient's state institutional capability to enforce policy conditionality. Two propositions have been demonstrated to explain why policy conditionality attached to aid might not always promote sustainable economic growth in Least Developed Countries. First, the model has simulated that a stable aid flow contributes to economic growth even when aid is fungible. Second, the model has also simulated that unstable aid inflow impairs the favourable effect of stable aid inflow. It is suggested that the contribution of aid to economic growth depends not only on the ability of aid to increase investment in the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Foreign Aid; Economic Growth; Policies; State Institutions; Food Security and Poverty; D72; D9; F35; H30. |
| Ano: 2005 |
URL: http://purl.umn.edu/23704 |
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| Registros recuperados: 10 | |
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