The impact of economic and monetary uncertainty on the demand for money in emerging economies
From Applied Economics Abstract By introducing uncertainty, monetary volatility and economic volatility are said to make the public cautious, hence increase their cash holdings or their demand for money. On the other hand, because of monetary and economic uncertainty if the public seek safer assets than money, they may hold less cash. In the absence ...
Cigarette prices and illicit drug use: is there a connection?
From Applied Economics By Rajeev K. Goel Abstract Using cross-sectional data from the United States, this study examines the effects of cigarette prices on the use of marijuana and illicit drugs (including marijuana, cocaine, heroin, inhalants, hallucinogens or any prescription drugs for nonmedical use). Five primary contributions of this work are: First, it provides evidence ...
The transmission of monetary policy and technology shocks in the euro area
From Applied Economics Abstract This article analyses the response of a set of euro area macroeconomic variables to monetary policy and technology shocks based on structural Vector Auto-regressions (VARs). The data set runs from 1970:1 until 2006:4 and includes a novel long-run series for hours worked per capita in the euro area. We find that ...
Social Enterprise and Development Policy: Evidence from Italy
From Journal of Social Entrepreneurship By Margherita Scarlato Abstract This paper examines the role of social enterprise in relation to the specific features of the Italian socio-economic context. It argues that in this case it is appropriate to discuss the concept of social enterprise within the theoretical framework of human development and Amartya Sen’s capability ...
‘Economic Sociology’ by Phin Upham
By Phin Upham Garry Becker, who won the Nobel Prize in economics in 1998, and others have used economics to explain not only the pricing of airplane tickets, but also a broader range of phenomena – the effects of war on savings rates, why we vote or do not vote, and why people discriminate on ...
Turning points: The productivity of failures
From Nature. By Ernst Fehr How a rejected paper generated a flourishing research programme. In the late 1980s, I wrote a paper about involuntary unemployment, which I hoped would answer questions economists had been debating for decades. The paper was rejected, but developed into basic research that encompassed several disciplines — biology, psychology and economics. ...
Neuroeconomic Foundation of Trust and Social Preferences
From CEPR Discussion Paper No. 5127. By Ernst Fehr, Urs Fischbacher, and Michael Kosfeld Abstract This paper discusses recent neuroeconomic evidence related to other-regarding behaviors and the decision to trust in other people’s other-regarding behavior. This evidence supports the view that people derive non-pecuniary utility (i) from mutual cooperation in social dilemma (SD) games and ...
A Model for Giving: The Effect of Corporate Charity On Employees by Phin Upham
By Phin Upham Abstract In addition to potential external customer attraction benefits, there are also possible powerful internal benefits for a corporation that gives to charity. In this essay we lay the groundwork for a rational and strategic set of principles that could guide a company to maximize the positive effect of its giving on ...
Rational Choice Theory, by Phin Upham
an essay by Phin Upham An economic treatment of human behavior generally rests on a structured account of rational choice theory (RCT). Such models often posit utility maximization behavior by all individual agents. In many cases it assumes that all resources can be allocated and evaluated in an orderly way for each individual and that ...
Featured Author of the Month: Phin Upham
Here at The Academic Ledger we like to shine the spotlight on some of the authors we regularly post from to talk about their work in addition to posting their essays. This month’s featured author is Phin Upham. You may have seen some of his articles showcased in the Economics and Philosophy sections of the site ...