Template-Type: ReDIF-Paper 1.0 Author-Name: Utteeyo Dasgupta Author-X-Name-First: Utteeyo Author-X-Name-Last: Dasgupta Author-Workplace-Name: Franklin and Marshall College Author-Name: Subha Mani Author-X-Name-First: Subha Author-X-Name-Last: Mani Author-Workplace-Name: Fordham University Author-Name: Lata Gangadharan Author-X-Name-First: Lata Author-X-Name-Last: Gangadharan Author-Workplace-Name:Monash University Author-Name: Pushkar Maitra Author-X-Name-First:Pushkar Author-X-Name-Last: Maitra Author-Workplace-Name: Monash University Author-Name: Samyukta Subramanian Author-X-Name-First: Samyukta Author-X-Name-Last: Subramanian Author-Workplace-Name:Pratham Title: Choosing to be Trained: Evidence from a Field Experiment Abstract: This paper combines unique experimental and survey data to examine the determinants of self-selection into a training program. Women residing in selected disadvantaged areas in New Delhi, India were invited to apply for a six-month long subsidized training program in stitching and tailoring. A random subset of applicants and non-applicants to the training program were invited to participate in an artefactual field experiment and in a detailed socio-economic survey. We find that applicants and non-applicants differ both in terms of socio-economic characteristics (elicited through survey data), and behavioral traits (elicited using a field experiment). Identifying these characteristics can help policy-makers design and promote programs so as to make them more appealing to the target group, and thus improve take-up rates. Our results also suggest that as a methodology, there is valuable information to be gained by dissecting the black box of unobservables using behavioral data from experiments. Creation-Date: 2012 File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2012_01_Dasgupta_et.al.pdf File-Format: Application/pdf Classification-JEL: J24, C93, C81 Keywords:Selection, Field Experiment, Household Survey, Risk, Competition Handle: RePEc:FRD:wpaper:DP2012_01 Template-Type: ReDIF-Paper 1.0 Author-Name: Hrishikesh D. Vinod Author-X-Name-First: Hrishikesh Author-X-Name-Last: Vinod Author-Workplace-Name: Fordham University Title: Unemployment Reduction Prowess Under Bush versus Obama Years Abstract: This paper attempts to compare the performance of presidents George W. Bush and Obama in the context of reduction of unemployment by comparing the Beveridge curve tradeoffs between vacancy and unemployment rates. We consider monthly data and measure the output of the economy as gross value of industrial production to define the output labor ratio. A new production function model estimates distinct "friction scale elasticities," marginal elasticities and elasticities of substitution under Bush and Obama. The discrepancy is related to our not including capital input, interest rates, wage rates and similar important variables in our simplified model. However we provide new isoquant maps with distinct appearances during Bush and Obama years providing mild support for Zingales (2012). Ultimately, there might be distinct employer evaluations of expected future profitability during the Bush and Obama periods. We implement all this in a completely reproducible and transparent manner using the free R software. Creation-Date: 2012 File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2012_02_Vinod.pdf File-Format: Application/pdf Classification-JEL: E2, E6, C4 Keywords: Unemployment, Vacnacies, Bush, Obama, Elasticities, Friction, R software Handle: RePEc:FRD:wpaper:DP2012_02 Template-Type: ReDIF-Paper 1.0 Author-Name: Suguru Mizunoya Author-X-Name-First: Suguru Author-X-Name-Last: Mizunoya Author-Workplace-Name: UNICEF Author-Name: Sophie Mitra Author-X-Name-First: Sophie Author-X-Name-Last: Mitra Author-Workplace-Name: Fordham University, Department of Economics Title: Is there a Disability Gap in Employment Rates in Developing Countries? Abstract: This paper examines differences in employment rates between persons with and without disabilities in 15 developing countries using the World Health Survey. We find that people with disabilities have lower employment rates than persons without disabilities in nine countries. Across countries, disability gaps in employment rates are more often found for men than women. The largest disability gap in employment rates is found for persons with multiple disabilities. For countries with a disability gap, results from a logistic decomposition suggest that observable characteristics of persons with/without disabilities do not explain most of the gap. Creation-Date: 2012 File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/dp2012_03_Mizonoya_Mitra.pdf File-Format: Application/pdf Classification-JEL: J14 Keywords: disability, employment, self-employment, developing countries, logit decomposition Handle: RePEc:FRD:wpaper:DP2012_03 Template-Type: ReDIF-Paper 1.0 Author-Name: Rossen Trendafilov Author-X-Name-First: Rossen Author-X-Name-Last: Trendafilov Author-Workplace-Name: Fordham University Author-Name: Erick W Rengifo Author-X-Name-First: Erick Author-X-Name-Last: Rengifo Author-Workplace-Name: Fordham University Title: Regime Identification in Limit Order Books Abstract: This article develops and implements a new methodology for identifying intraday information regimes in limit order books. Based on Lehmann (2008), in an information regime all the information is trade related and arrives via order ?ow and, the fundamental value that underlines the prices does not change, it is simply translated by the size of the executed market order and the back?lling adjustment. During an information regime the best quotes and the underlying values follow a path de?ned by the limit order book. A change of information regime within a given day is shown to alter the provision of liquidity to the market with consequences for asset prices, trading behavior, and optimal trading strategies. By applying wavelet theory we have developed a methodology that allowed us to clearly identify information regimes. Our results show that information regimes have an impact on price formation and price discovery, including dynamic issues such as the process by which prices come to capture information over time. The discovery and ideate?cation of information regimes essentially uncovers the mechanism by which latent demands are translated into realized prices and volumes. These results empirically support Lehmann�s theoretical model. Creation-Date: 2012 File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/dp2012_04_rengifo.pdf File-Format: Application/pdf Classification-JEL: G10, G12, C58 Keywords: Market microstructure, Information regimes, Limit order books, Wavelets, Wavelet multi-resolution analysis Handle: RePEc:FRD:wpaper:dp2012_04