Recent Economics Publications

 

For a list or past Economics articles click here

Ticket Scalping Prohibitions: Sound Policy or Jealousy?
Grand Rapids Business Journal, Nov. 2006
Amber Brown and Greg Dimkoff
2006
An undercover Wayne County sheriff’s deputy recently ticketed 25 people for attempting to scalp tickets to Detroit Tiger playoff games. One was trying to sell tickets he had bought at $225 for $750.
 
 
Experiment in Bond Market: To Be Used As A Case Study Project In A Macroeconomics Course
Transactions on Case Study for Macroeconomics Course, Vol 6 #1, Spring 2006
Amber Brown
2006
A basic understanding of bond markets is crucial in an introductory macroeconomics course. Especially during times of record budget deficits, students need to understand how bond markets work in order to fully understand the controversy surrounding the dangers of a deficit. Making the link between deficits, bond sales, and interest rates clarifies the effects of deficits on corporate borrowing and investment. This is possible without delving into the intricacies of valuing bonds. A general overview of the market will suffice. In addition, a good understanding of the workings of the bond market makes the study of the Federal Reserve much easier. The following experiment is a fun and useful way of illustrating the workings of the bond market and the effects of changing prices on interest rates.
 
 
Women’s Status Varies In Western Michigan
Grand Rapids Business Journal, August 2006
Amanda Gerber, Stacey Seaman, and Sonia Dalmia
2006
Women play a major role in the Michigan work force, influence decision-making on households’ consumption of goods and services, and serve crucial professional roles in business, government and organizations.
 
 
Review of: The Federal Reserve System: An Encyclopedia
The Federal Reserve System: An Encyclopedia. Westport, Connecticut and London: Greenwood Press, 2005. 
Reviewed By: Daniel Giedeman
2005
In the preface to his The Federal Reserve System: An Encyclopedia, R.W. Hafer states: “The purpose of the book is to provide an introduction to the Federal Reserve and related topics… If successful, this will be the first, not the last, book that you’ll read on the subject of the Federal Reserve.” By this standard, the Encyclopedia is a solid accomplishment as it provides clear and accessible expositions on a wide variety of topics related to the Federal Reserve System. Hafer, currently the Chair of the Department of Economics and Finance at Southern Illinois University, Edwardsville, served for a decade as a Research Officer at the Federal Reserve Bank of St. Louis, a position that clearly prepared him well to author this volume.
 
 
Identifying the Gap between Student and Faculty Expectations: Report from a Business School
Journal of the Academy of Business Education, pp. 44-51, Spring 2006
Marie McKendall, Yatin Bhagwat, Daniel C. Giedeman, Helen A. Klein and Nancy M. Levenburg
2006
The authors of this paper are faculty members in the business school of a medium-sized (e.g., 21,000 students) comprehensive state university. In recent years, anecdotal evidence indicated that frustration levels between faculty and students in the business school had been steadily rising. The issue came to the forefront in November 2002 when a faculty member, troubled by unsatisfactory student work and hostile reactions to senior course requirements, asked that the faculty consider how students who were seniors apparently believed that low quality work would suffice and that they should not be asked to work too hard. Faculty overwhelmingly agreed that faculty standards and student expectations had both fallen too low.
 
 
Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries
International Advances in Economic Research, Vol 12, pp. 277-286, 2006
Daniel C. Giedeman, Paul N. Isely, and Gerald P. Simons
2006
This paper addresses two questions concerning firm innovation and economic fluctuations. The primary question asked is: Does the relationship between a firm’s innovative activity and the business cycle differ across industries? The secondary question is: Can the specific nature of this relationship be determined? The answers to these questions are important for understanding long-run economic growth and have implications for policies designed to encourage innovation.
 
 
Women in Academia: An Analysis of Their Expectations, Performance and Pay
Forum on Public Policy
Sonia Dalmia, Daniel C. Giedeman, Helen A. Klein, and Nancy M. Levenburg
The authors of this paper are faculty members in the business school of a medium-sized (22,000) university in the mid-western United States. Over the last few years, informal discussions at the school brought forward a growing sense of disconnect that the faculty perceived between themselves and their students. A major source of disconnect highlighted was the difference in faculty and student priorities. While the faculty saw learning as the student’s principle objective in college, they felt earning a credential was the primary motivating factor for students. To align this divide in expectations a faculty-led task force was created to examine student and faculty perceptions of undergraduate student’s performance. In pursuit of this effort, a 77-item survey was distributed to the business school faculty in the summer of 2003. The survey was designed to assess faculty member’s views about the general characteristics of the business school and its students, their classroom policies and practices, their general feelings as faculty members and their opinion about what motivates students.
 
 
The Economic and Business Historical Society Meeting
32nd Annual Meeting, Hilton Hotel, Providence, RI April 2007.
Daniel D. Giedeman
2006
The 31st Annual Meeting of the Economic and Business Historical Society was held at the William Penn Omni Hotel in Pittsburgh, Pennsylvania from April 27-29, 2006. EBHS President and Program Chair Michael Namarato (University of Mississippi), EBHS Secretary-Treasurer John Rossi (Pennsylvania State University-Erie) and EBHS Chairman of the Board of Trustees Larry Malone (Hartwick College) were instrumental in the coordination and success of the conference. In total 50 papers were presented in 21 sessions from authors across the United States, Europe and Asia.
 
 
Globalization in the U.S. Auto Industry: International Mergers and Acquisitions as Drivers of Innovation
Paul Isely and Gerald Simons
There is growing interest in the role that corporate restructurings have on innovation. Although existing research has looked at the impacts of leveraged buyouts of companies on R&D spending and profits, few studies have looked at the effect that buyouts and joint ventures have on the output of R&D, and those studies focus on the impacts of domestic mergers and acquisitions.
 
 
Good old days? Not this year
The Grand Rapids Press, January 2006
Paul Isely and Hari Singh
2006
As the West Michigan economy goes through these rough times, two questions often are asked: When will the “good old days” of the late 1990’s come back? What is the prognosis for 2006?
 
 
Price and Substitution in Residential Solid Waste
Contemporary Economic Policy
Paul Isely and Aaron Lowen
2007
Many municipalities desire to increase recycling and decrease garbage production. Given the well-documented advantages of instituting per-weight garbage fees over flat-rate pricing, many cities have adopted such pricing systems. Cities are now trying to balance the need for additional revenue with social welfare concerns by adjusting the relative price of garbage collection and recycling. Since these price adjustments occur without the additional effect of an adjustment to a new system, we would expect different consumer responses than those documented in studies examining the initial switch to per-unit pricing from flat-rate pricing. Thus, cities need estimates of consumer responses to price changes in existing programs.
 
 
Family-Friendly Fringe Benefits
Business Update Publications, September 2006
Aaron Lowen and Paul Sicilian
2006
One of the more significant changes in the US labor market over the past several decades has been women’s increasing participation in the labor force. This is particularly true for mothers. For example, data compiled by the US Bureau of Labor Statistics (BLS) show that in 1975 only 39% of women with young children (under the age of 6) were in the labor force. By 2004 (most recent data available) this number had climbed to over 62%. During this same period, women’s educational and professional achievements have also risen. For example, the BLS reports that by 2004 young women high school graduates were more likely than young male high school graduates to enroll in college, and 33 percent of women between the ages of 25-64 held a college degree in 2004, as compared to only 11 percent in 1970. Moreover, by 2004 women held half of all management, professional and related occupations.
 
 
Women And The Labor Market: The Trends And Implications
Grand Rapids Business Journal, November 2006. 
Aaron Lowen and Paul Sicilian
2006
One of the most important trends in the U.S. economy over the past several decades is the changing role of women in the labor market. In particular, there has been a dramatic increase in women’s labor force participation. Concurrently, women have surpassed men in educational attainment and are increasingly entering professional and managerial occupations. Similar changes have occurred in Kent County over this period and have profound implications for the way local employers hire and compensate employees.
 
 
The Economic Impact of Nonprofits in Kent County
Community Research Institute
Aaron Lowen and Bruce Nanzer
2006
The nonprofit sector of the economy encompasses a range of diverse activities from running multi-billion dollar hospital systems to organizing an all-volunteer neighborhood block club. It is widely acknowledged to create social and societal benefit. What is less widely known is that the sector provides critical economic at all levels of the U.S. and Kent County economies. The Johnson Center at Grand Valley State University estimates that in 2005, nonprofits in Kent County had an economic impact of over $2 billion.
 
 
Price and Substitution in Residential Solid Waste
Contemporary Economic Policy
Paul Isely and Aaron Lowen
2007
Many municipalities desire to increase recycling and decrease garbage production. Given the well-documented advantages of instituting per-weight garbage fees over flat-rate pricing, many cities have adopted such pricing systems. Cities are now trying to balance the need for additional revenue with social welfare concerns by adjusting the relative price of garbage collection and recycling. Since these price adjustments occur without the additional effect of an adjustment to a new system, we would expect different consumer responses than those documented in studies examining the initial switch to per-unit pricing from flat-rate pricing. Thus, cities need estimates of consumer responses to price changes in existing programs.
 
 
Survival Analysis of International Joint Venture Relationships
International Atlantic Economic Society, Published Online, January 2007
Aaron M. Lowen and Jennifer A. Pope
2007
This study examines the significance of variables most connected with international joint venture (IJV) relationship dissolution, and offers empirical results to the often-contradictory relationship dissolution literature. Survival techniques are used on a new and unique data set obtained from secondary sources (i.e., LexisNexis, F&S Index, and Wall Street Journal) that includes IJV events from 1990-2002 covering multiple countries and industries.
 
 
A note on tax competition, attachment to home, and underprovision of public goods
Journal of Urban Economics 56 (2006) 252-258
Laudo M. Ogura
2006
This paper analyzes efficiency in the provision of public goods when there is tax competition, but investors have attachment to home, i.e., a biased preference for investing in the region where they live. Investors are assumed to be heterogeneous in the costs to invest outside the home region. As a result, in comparison with the no attachment case, the capital outflow response to an increase in the tax rate is reduced because only investors facing small mobility costs will move capital out. In a symmetric equilibrium, tax rates are increased and the extent of the underprovision of public goods caused by tax competition is lessened.
 
 
Imam Ali’s Theory of Social Justice
Second Year, No. 10, pp. 17-21, Feburary 2006
Dr. Ayman Reda
2006
If one attempts to ask most people, who are to varying degrees informed with regards to the history and intellect of Imam Ali (a.s.), as to how they would portray his character, the responses would include such notions as: pious, believer, great thinker, brilliant philosopher, dignified warrior, just leader, innovative scientist, eloquent speaker, magnificent poet, and a loving husband and father. It is very unlikely that he would be referred to as an economist.
 
 
Family-Friendly Fringe Benefits
Business Update Publications, September 2006
Aaron Lowen and Paul Sicilian
2006
One of the more significant changes in the US labor market over the past several decades has been women’s increasing participation in the labor force. This is particularly true for mothers. For example, data compiled by the US Bureau of Labor Statistics (BLS) show that in 1975 only 39% of women with young children (under the age of 6) were in the labor force. By 2004 (most recent data available) this number had climbed to over 62%. During this same period, women’s educational and professional achievements have also risen. For example, the BLS reports that by 2004 young women high school graduates were more likely than young male high school graduates to enroll in college, and 33 percent of women between the ages of 25-64 held a college degree in 2004, as compared to only 11 percent in 1970. Moreover, by 2004 women held half of all management, professional and related occupations.
 
 
Women And The Labor Market: The Trends And Implications
Grand Rapids Business Journal, November 2006
Aaron Lowen and Paul Sicilian
2006
One of the most important trends in the U.S. economy over the past several decades is the changing role of women in the labor market. In particular, there has been a dramatic increase in women’s labor force participation. Concurrently, women have surpassed men in educational attainment and are increasingly entering professional and managerial occupations. Similar changes have occurred in Kent County over this period and have profound implications for the way local employers hire and compensate employees.
 
 
Globalization in the U.S. Auto Industry: International Mergers and Acquisitions as Drivers of Innovation
Paul Isely and Gerald Simons
There is growing interest in the role that corporate restructurings have on innovation. Although existing research has looked at the impacts of leveraged buyouts of companies on R&D spending and profits, few studies have looked at the effect that buyouts and joint ventures have on the output of R&D, and those studies focus on the impacts of domestic mergers and acquisitions.
 
 
Innovation and the Business Cycle: A Comparison of the U.S. Semiconductor and Automobile Industries
International Advances in Economic Research, Vol 12, pp. 277-286, 2006
Daniel C. Giedeman, Paul N. Isely, and Gerald P. Simons
2006
This paper addresses two questions concerning firm innovation and economic fluctuations. The primary question asked is: Does the relationship between a firm’s innovative activity and the business cycle differ across industries? The secondary question is: Can the specific nature of this relationship be determined? The answers to these questions are important for understanding long-run economic growth and have implications for policies designed to encourage innovation.
 
 
Free Trade with Thailand- A New Threat for Michigan?
Seidman Business Review, Winter 2006
Gerry Simons
2006
In 2003, President Bush announced that the U.S. would enter into trade negotiations with Thailand for a possible U.S.-Thailand Free Trade Agreement (UST-FTA). This is part of the President’s desire to develop closer economic ties with the 10 ASEAN countries (Association of Southeast Asian Nations). The fifth round of negotiations for this FTA was completed in September 2005. The U.S. trade representatives hope to finalize the details of the agreement in early 2006, after which it would need to go to Congress to be ratified.
 
 
Auto Industry Is Hot Issue In Korean Trade Negotiations
Grand Rapids Business Journal, May 2006
Gerry Simons
2006
So which way will a trade agreement with Korea go? That depends on who you ask. 
 
 
Free Trade With The New ‘Detroit Of Asia’?
Grand Rapids Business Journal, March 2006
Gerry Simons
2006
In September, U.S. and Thai trade representatives concluded the fifth round of negotiations for a United States-Thailand Free Trade Agreement (UST-FTA).
 
 
Will Michigan Gain From a Stronger Yuan?
Grand Rapids Business Journal, March 2006
Gerry Simons
2006
In July, China abandoned its exchange rate system which had tied the yuan to the dollar for the past decade. The Bush administration, responding to the demands of many U.S. businesses, had long pushed China to remove its dollar peg. Now that this has been accomplished, what does it mean for Michigan?
 
 
Do Agency Costs Inhibit Foreign Collaborations By Family Firms? An Empirical Investigation
Global Business & Economics Anthology, Volume II, December 2006
Hari Singh
2006
All business is global in the sense that family owned domestic firms face global competition. Consequently, a family owned manufacturing or service firm that seeks to thrive in a highly competitive environment has to construct a long-term strategy that incorporates all the direct and indirect costs of operation on a global basis.
 
 
Making Decisions
Leadership Excellence, Vol 23 No. 7, July 2006
Hari Singh
2006
The most critical aspect of decision making is how you frame a decision- how you conceptualize the problem. What information do you take into account? Are you clear about the objective and alternatives? Have you ruled out some options prematurely?
 
 
The Name of the Game is the Frame
Grand Rapids Business Journal, June 2006
Hari Singh
2006
Some major insights about decision-making strategies have surfaced in psychology, management, and economic journals.
 
 
Good old days? Not this year
The Grand Rapids Press, January 2006
Paul Isely and Hari Singh
2006
As the West Michigan economy goes through these rough times, two questions often are asked: When will the “good old days” of the late 1990’s come back? What is the prognosis for 2006?
 
The Influence of Immigration Laws on U.S. Marriage Rates
Claudia Smith
2006
Since Gary Becker’s seminal work on the economic theory and family structure (1973, 1974), economists have acknowledged that economic incentives are an integral part of the family structure decisions. Most empirical tests of Becker’s marriage model in the economics literature have examined the net impact of the individual income tax and government transfers on the likelihood of being married and the timing of the marriage. The consensus is that changes in the marriage returns resulting from changes in these programs have small or no effects on the decision and when to marry.
 
Immigration, Crime and Compensating Wage Differentials: Evidence from the Mariel Boatlift
Claudia Smith
2006
In April 1980, mass Cuban migration via a flotilla of privately chartered boats began from the Cuban Port of Mariel to the Port of Key West, Florida. Shortly after the arrival of the Cuban refugees, Miami’s violent crime rate rose from 18.8 to 34.2 per 1000 individuals. Using samples from the Current Population Survey and exploiting this exogenous increase in the crime rate, I compare changes in the labor-market outcomes of Miami unskilled workers who faced a greater risk of suffering a fatal on-the-job injury to the corresponding changes in a group of cities with little of no increase in violent crime rates. The empirical analysis suggests that high-crime-risk workers in Miami earned between 3 and 26 percent more relative to high-crime-risk workers in the comparison cities in 1980.
 
 
Monetary Integration in East Asia: Evidence from Real Effective Exchange Rates
Journal of Comparative International Management, Volume 9 #2, December 2006
Wei Sun
2006
East Asian countries are thought to have followed exchange rate policies where the bilateral exchange rate against the US dollar was kept within a narrow band through heavy intervention. On the other hand, recent empirical studies suggest that East Asia is not an optimum currency area because it is subject to asymmetric shocks. New information about conflicting evaluations on the exchange rate policy in East Asia is provided using co-integration and Granger causality analyses. East Asia, incorporating all countries, was found to be not an optimum currency area. Neither the yen nor the dollar has dominant influence in the region. However, it was found that an NIE bloc including Japan, Hong Kong, Singapore, and Taiwan is forming an ASEAN bloc including five ASEAN countries. In addition, it was found that East Asian countries pay more attention to each other than to the yen or the dollar in their exchange rate policy making.
 

Page last modified November 15, 2012