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
Title: Only Mine or All Ours: An Artefactual Field Experiment on Procedural Altruism
Abstract: In an artefactual field experiment, we introduce a novel allocation game to investigate the role of procedural altruism in household decision-making and study choices of married spouses. Subjects can distribute their earnings from the experiment either on food items (joint consumption good), or on gender specific personal clothing (private consumption good). Subjects' consumption choices are observed under two treatments – earnings with effort, and earnings without effort. At the aggregate we find that subjects exhibit a strong preference for own private consumption good when assigned to the effort treatment. However, further scrutiny suggests that women's choice for the joint consumption good in the household remains largely independent of the treatment. In contrast, men exhibit a strong preference for private consumption good in the effort treatment.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_01_dasgupta_mani.pdf
File-Format: Application/pdf
Classification-JEL: C93, D1, Z1
Keywords: Procedural utility, Household decision making, Gender, Experiment
Handle: RePEc:FRD:wpaper:DP2013-01

Template-Type: ReDIF-Paper 1.0
Author-Name: Pushkar Maitra
Author-X-Name-First: Pushkar
Author-X-Name-Last: Maitra
Author-Workplace-Name: Monash University
Author-Name: Subha Mani
Author-X-Name-First: Subha
Author-X-Name-Last: Mani
Author-Workplace-Name: Fordham University
Title: Learning and Earning: Evidence from a Randomized Evaluation in India
Abstract: This paper estimates the short-and-medium-run effects of participating in a subsidized vocational training program aimed at improving labor market outcomes of women residing in low-income households in a developing country. We combine pre-intervention data with two rounds of post-intervention data from a field experiment to quantify the short-and-medium-run effects of the program. In the short-run, we find that program participants are significantly more likely to be employed, work additional hours, and earn more. These short-run impact estimates are all sustained in the medium-run. We also identify credit constraints, local access, and lack of proper child care support as important barriers to program participation and completion. We are able to rule out two alternative mechanisms -- signalling and change in behavior that can drive these findings. Finally, a simple cost-benefit analysis suggests that the program is highly cost effective.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_02_Maitra_Mani.pdf
File-Format: Application/pdf
Classification-JEL: I21, J19, J24, O15
Keywords: Vocational training, Field Experiment, Panel data, India
Handle: RePEc:FRD:wpaper:DP2013-02

Template-Type: ReDIF-Paper 1.0
Author-Name: Louis J. Maccini
Author-X-Name-First: Louis
Author-X-Name-Last: Maccini
Author-Workplace-Name: Johns Hopkins University
Author-Name: Bartholomew Moore
Author-X-Name-First: Bartholomew
Author-X-Name-Last: Moore
Author-Workplace-Name: Fordham University
Author-Name: Huntley Schaller
Author-X-Name-First: Huntley
Author-X-Name-Last: Schaller
Author-Workplace-Name: Carleton University
Title: Inventory Behavior with Permanent Sales Shocks
Abstract: Empirically, sales are I(1). Starting from this fact, we derive three startling results. First, the variance of production is equal to the variance of sales in the long run. Second, this result holds regardless of the strength of production smoothing, stockout avoidance, or cost shocks. Third, at business cycle horizons, the conditional variance of production is greater than that of sales. We explain -- analytically and intuitively -- four traditional inventory puzzles and three puzzles about inventories and monetary policy.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_03_Maccini_Moore_Schaller.pdf
File-Format: Application/pdf
Classification-JEL: E22, E23
Keywords: Inventories, Production Smoothing, Stockout Avoidance, Cointegration, Monetary Policy Effects
Handle: RePEc:FRD:wpaper:DP2013-03

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: Maximum Entropy Bootstrap Algorithm Enhancements
Abstract: While moving block bootstrap (MBB) has been used for mildly dependent (m-dependent) time series, maximum entropy (ME) bootstrap (meboot) is perhaps the only tool for inference involving perfectly dependent, nonstationary time series, possibly subject to jumps, regime changes and gaps. This brief note describes the logic and provides the R code for two potential enhancements to the meboot algorithm in Vinod and Lopez-de-Lacalle (2009), available as the 'meboot' package of the R software. The first 'rescaling enhancement' adjusts the of meboot resampled elements so that the population variance of the ME density equals that of the original data. Our second 'symmetrizing enhancement' forces the ME density to be symmetric. One simulation involving inference for regression standard errors suggests that the symmetrizing enhancement of the meboot continues to outperform the MBB.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_04_Vinod.pdf
File-Format: Application/pdf
Classification-JEL:
Keywords: Maximum entropy, block bootstrap, variance, symmetry, R-software
Handle: RePEc:FRD:wpaper:DP2013-04

Template-Type: ReDIF-Paper 1.0
Author-Name: Sophie Mitra
Author-X-Name-First: Sophie
Author-X-Name-Last: Mitra
Author-Workplace-Name: Fordham University
Author-Name: Usha Sambamoorthi
Author-X-Name-First: Usha
Author-X-Name-Last: Sambamoorthi
Author-Workplace-Name: West Virginia University
Title: Disability Prevalence among Adults: Estimates for 54 Countries and Progress towards a Global Estimate
Abstract: Objectives: We estimated disability prevalence among adults at global, regional and country levels using internationally comparable disability data and measure. Methods:  We conducted a retrospective analysis of data from the World Health Survey (WHS) (2002--2004) for nationally representative samples of civilian, non-institutionalized populations in 54 countries. A disability was measured as having at least one severe or extreme difficulty with bodily functions (seeing, concentrating) and activities (moving around, self--care) based on an individual's self-reports. Results: In the 54 countries under study, severe or extreme functional or activity difficulties are highly prevalent.  For all countries, disability prevalence is estimated at 14% for all adults. Low and middle income countries have higher disability prevalence compared to high income countries. Among subgroups, disability prevalence stands at 12% amon working age adults and 39% among the elderly. Women have higher prevalence than men. Conclusions: Disability is found to be highly prevalent among adults, with an estimated global prevalence at 14%. Disability deserves enhanced policy attention and resources in public health and international development.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_06_Mitra_Sambamoorthi.pdf
File-Format: Application/pdf
Classification-JEL: I1, J14
Keywords: Disability prevalence, Development
Handle: RePEc:FRD:wpaper:DP2013-06

Template-Type: ReDIF-Paper 1.0
Author-Name: Subha Mani
Author-X-Name-First: Subha
Author-X-Name-Last: Mani
Author-Workplace-Name: Fordham University
Title: Socioeconomic Determinants of Child Health - Empirical Evidence from Indonesia
Abstract: This paper characterizes the socioeconomic determinants of child health using height-for-age z-score (HAZ) - a long-run measure of chronic nutritional deficiency. We construct a panel data set that follows children between 3 and 59 months in 1993 through the 1997 and 2000 waves of the Indonesian Family Life Survey. We use this data to identify the various child level, household level and community level factors that affect children’s health. Our findings indicate that household income has a large and statistically significant role in explaining improvements in HAZ. We also find a strong positive association between parental height and HAZ. At the community level, we find that provision of electricity and availability of a paved road is positively associated with improvements in HAZ. Finally, in comparison to community level factors, household level characteristics have a large role in explaining the variation in HAZ. These findings suggest that policies that address the demand side constraints will have a greater potential to improve children's health outcomes in the future.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_07_Mani.pdf
File-Format: Application/pdf
Classification-JEL: I10, O12, R20, D10
Keywords: Child health, Panel data, Indonesia, Height
Handle: RePEc:FRD:wpaper:DP2013-07

Template-Type: ReDIF-Paper 1.0
Author-Name: Bartholomew Moore
Author-X-Name-First: Bartholomew
Author-X-Name-Last: Moore
Author-Workplace-Name: Fordham University
Title: Monetary Policy Regimes and Inflation in the New-Keynesian Model
Abstract: This paper shows that plausible modifications to the Taylor rule for monetary policy can help explain several empirical anomalies to the behavior of inflation in the new--Keynesian general equilibrium model. The key anomalies considered are (1) the persistence of inflation, both in reduced form and after conditioning on inflation's driving processes, (2) the positive correlation between the output gap and the change in the inflation rate, and (3) the apparent bias in survey measures of expected inflation. The Taylor rule in this model includes the now standard assumption that the central bank smoothes changes to its target interest rate. It also includes Markov switching of a persistent inflation target between a low target rate and a high target rate. The model is calibrated to match Benati's (2008) result that, historically, changes in monetary policy lead to a statistically significant change in the persistence of inflation. Matching Benati's result requires a reduction in an exogenous, hence structural, source of persistence. However, inflation in the model inherits additional, non-structural, persistence from the process that governs the inflation target. As a result, the model is able to replicate measures of inflation persistence, even after conditioning on inflation's driving processes. Agents with rational expectations and knowledge of the current inflation target will be aware of the possibility of a future target switch, causing their expectations to appear biased in small samples. Finally, with sticky nominal prices a discrete drop to the low-inflation target requires a loss of output while previously-set prices adjust.
Creation-Date: 2013
File-URL: https://archive.fordham.edu/ECONOMICS_RESEARCH/PAPERS/DP2013_08_Moore.pdf
File-Format: Application/pdf
Classification-JEL: E52, E31, D84
Keywords: Monetary Policy, Markov Switching, Inflation Persistence, Expectations
Handle:RePEc:FRD:wpaper:DP2013-08