世界経済・社会統計 = World development indicators

1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

Regression Diagnostics: Identifying Influential Data and Sources of Collinearity

The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s "veil of ignorance": individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

The Economic Institutions of Capitalism

1. Interaction. The interactions learners have with each other build interpersonal skills, such as listening, politely interrupting, expressing ideas, raising questions, disagreeing, paraphrasing, negotiating, and asking for help. 2. Interdependence. Learners must depend on one another to accomplish a common objective. Each group member has specific tasks to complete, and successful completion of each member’s tasks results in attaining the overall group objective.

将“Cooperative Learning”融入课堂——浅谈英语素质教育

This paper sets out to explore contexts for entrepreneurship, illustrating how a contextualized view of entrepreneurship contributes to our understanding of the phenomenon. There is growing recognition in entrepreneurship research that economic behavior can be better understood within its historical, temporal, institutional, spatial, and social contexts, as these contexts provide individuals with opportunities and set boundaries for their actions. Context can be an asset and a liability for the nature and extent of entrepreneurship, but entrepreneurship can also impact contexts. The paper argues that context is important for understanding when, how, and why entrepreneurship happens and who becomes involved. Exploring the multiplicity of contexts and their impact on entrepreneurship, it identifies challenges researchers face in contextualizing entrepreneurship theory and offers possible ways forward.

https://papers.ssrn.com/sol3/Delivery.cfm/j_1540-6520_2010_00427_x_wml.pdf?abstractid=1784106&mirid=2

Contextualizing Entrepreneurship—Conceptual Challenges and Ways Forward:

We provide the first ranking of countries’ economic institutions using an ordinal methodology. Using the five areas of the Fraser Institute’s Economic Freedom of the World (EFW) index, we find that final rankings of a country’s institutions are sensitive to the importance-ordering of Area 1 (Size of Government). When Areas 2–5 are in the most important position, we find that there is no significant difference between the EFW rankings and our rankings. When Area 1 is placed in the most important position, however, a number of European countries with large welfare states but good governance do poorly.

/pdf/an-ordinal-ranking-of-economic-institutions-2qz9fbh6l0.pdf

An Ordinal Ranking of Economic Institutions

The United States has a rich history of local government taxation and good provision. The last fifty years, however, have seen increasing calls for the regionalization of municipal taxes and services from policymakers. Arguments for greater regionalization emphasize improved efficiency, enhanced equity, mitigation of spillovers, and improved economic development. A number of localist scholars have responded to regionalists’ concerns. This review articulates regionalists’ arguments, the localists’ response, and summarizes the relevant empirical literature to see which side’s theories hold forth in the data.

/pdf/regionalization-and-consolidation-of-municipal-taxes-and-51n380o2rk.pdf

Regionalization and Consolidation of Municipal Taxes and Services

Daily hotel data are employed, along with information on prices, revenue, demand and hotel occupancy, to analyze part of the local economic impact of the annual New York City (NYC) Marathon. As the largest competitive race in the world, the marathon attracts domestic and international competitors and spectators. The cancellation of the 2012 marathon due to Hurricane Sandy was estimated to lead to an increase of 4000 hotel nights as well as a 10% increase in the average daily room rate. Taken together, this is associated with a USD 3 million increase in hotel revenue. The results suggest a significantly lower local economic impact of the race than previously thought.

https://www.mdpi.com/2227-7099/8/4/89/pdf

The Impact of the New York City Marathon on Hotel Demand

The SIC sectors identified for direct, indirect, and in kind rent seeking activity have been identified and verified empirically in Sobel & Garrett (2002) by comparing capital counties to non-capital counties. We convert these industries from SIC to NAICS codes and provide measures of direct, indirect, and in-kind rent seeking for the year 2005. In addition, we extend their work by switching from counties to Metropolitan and Micropolitan Statistical Areas, which are defined as economically integrated counties. Our measures are consistent with theirs and provide a starting point for creating a time series of rent-seeking activity in the United States.

New Empirical Estimates of Rent Seeking: An Update of Sobel – Garrett [2002]

This paper is one look at the evolution of the modern Austrian and Virginia schools of economic thought and their prospects for future development. Using Buchanan and Kirzner as starting nodes, we note that there each has only two “grandchildren” currently producing students working distinctly in their tradition. In this paper, we look at the production of new economists and the scholarly productivity of these two branches. Both the “Kirzner/Lavoie/Boettke Branch” of the Austrian School and the “Buchanan/Holcombe/Sobel Branch” of the Virginia School have been effective at producing new economists working within their school’s established research program. JEL Codes: A11, A23, B53

Joshua C. Hall

Papers

An Ordinal Ranking of Economic Institutions

Regionalization and Consolidation of Municipal Taxes and Services

The Impact of the New York City Marathon on Hotel Demand

New Empirical Estimates of Rent Seeking: An Update of Sobel – Garrett [2002]

The Production and Proliferation of Economists: The Austrian and Virginia Schools as Academic Enterprises