Proposed Merger Between Staples And Office Depot

Proposed Merger Between Staples And Office Depot
Anticompetitive Effects and Price Effects: Proposed Merger between Staples and Office Depot
(1997) Xueqi Ji 6252074952 Abstract FTC employed structural, documentary, statistical,
econometrics and financial evidence to verify that the proposed merger of Staples and Office Depot
will lead to increase in market concentration, market prices and stock prices, and thus support FTC's
contention that this merger will cause an anticompetitive effect on Office Superstore market. Staples
and Office Depot made a plain and useless contradiction. Finally, the Court announced to agree with
FTC, and granted a preliminary injunction on this merger. This paper mainly focuses on FTC's
evidence and analysis. Keywords: antitrust, horizontal merger, ... Show more content on
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Staples (2006), Orley Ashenfelter, David Ashmore, Johnathon B. Baker, Suzanne Gleason and
Daniel S. Hosken leveraged extensive public record to provide a detailed discussion of the
econometric models used in this merging case and to show how differences between the models led
to the discrepancy between these estimates. FTC claimed that based on various analysis and
evidence, proposed merger between Staples and Office Depot will harm competition in office
superstore chain market and raise market price which will lessen customers' welfare. Nevertheless,
two parties of merger casted doubt on every detailed statement, and interpreted that this merger will
reduce costs, broaden scale of economies, improve economic efficiency, and optimize resource
allocation, and then lower market price efficiently. Finally, the Court chose to agree with FTC's
contention. II.Background In 1996, there were three largest and absolutely dominant office
superstores (OSS) chains in United States office supply market, Staples, Office Depot and
OfficeMax. Office superstores can get access to much more convenient and cheaper supply of goods
than small retailers through signing a mass of contracts with suppliers. They are mostly located in
downtown business districts, and own considerable floor areas, a wide variety of product types and
sizable supply size. Therefore, they can provide consumers with great user experience and
convenience by
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Comparing Logit And Probit Models Essay
In Logit and Probit models, a dependent variable takes only two values that represent the occurrence
of an event (yes or no) or a choice between two alternatives. In the current case, to model choice
status of each individual WTP for improved solid waste management respondents differed in age,
educational attainment, income, sex and other observable characteristics. These are denoted by S. In
the dichotomous choice method, individuals are assumed to have utility function, U, income (I), and
a set of conditioning factors (S): U(I; S)
Each respondent was confronted with a specified bid value, BID, which she or he may contribute
towards the management initiative. It is assumed that the individual would accept a suggested BID
to maximize his or her utility under the following condition and reject it otherwise (Hanemann,
1984):
U(1, I –BID; S)+ ε1 ≥U(0, I; S) + ε0
In the current case, ε1 and ε0 are considered as independently distributed random variables with
zero means. Therefore, the probability that a household would decide to pay for the proposed
improved solid waste management for Delhi is the probability that the conditional indirect utility
function for proposed intervention is greater than the conditional indirect utility function for the
status quo. The dependent variable is dichotomous and equals 1, if the ith household is willing to
pay a bid and 0, otherwise. The general form of the estimation can be written as:
〖

Do Managers Ownership Concentration Affect Firms '...
Research question
Do managers ownership concentration affect firms ' investment policy? According to
citet{agrawal1987managerial}, the firm 's specific risks have three effects on the insiders '
incentives. First, as a shareholder, insiders can benefit from the increased value of the equity claims
if the firms invest in high risk and high return projects. Second, as risk–averse investors, insiders
have lower certainty equivalent of human capital value if the firms have more volatile future cash
flows. Lastly, if the managers lacks the access to freely diversify the firm specific risk of their
personal wealth portfolios, they are worsen off by the variation of their total wealth. Therefore, the
effect of an increase in the equity claim 's ... Show more content on Helpwriting.net ...
According to Forbes, his net worth is $ 50.1 billion, almost of which are based on his holding of
Oracle 's stock. The purpose of Ellison 's borrowing is not fully revealed, however, he has a vast
known holdings of land and real estates, as well as holdings in many start–up business (NetSuite, for
example). This example shows that share pledge practice provides corporate insiders a way to
diversify their personal portfolios without actually selling the shares. There are three advantages of
doing so over selling the shares directly. First, the insiders would not need to sell their stocks at a
discount to fundamental value when his or her selling un–balance the normal market demand and
supply. Second, insiders can avoid being linked with insider trading accusations and sending
negative signal to the market. Third, some of them may actually want to hold onto the firms ' stocks
in their personal portfolio but want to also diversify. In summary, share pledge loans provide more
opportunities for corporate insiders to hedge their exposures to firm specific risk.

There is a long list of papers in the literature focusing on the relationship between managers ability
to hedge and firms risk. As such, these studies, among others, have documented a number of
techniques that executives use to hedge their undiversified portfolios, such as the use of low–cost
collars

Case Study Of CCR And BCC Model
CCR and BCC models are used to measure the efficiency in a single stage. In order to explore the
series relationship between the two–stage of production process or value chain. (ZhuoFan Yang,
2014) 1.2 Kao and Hwang (KH) Model Kao and Hwang (KH) Model proposed a two–stage DEA
model where it is necessary for the weights associated with zdj to be the same. Their model for
measuring the overall efficiency of DMUk. Kao and Hwang Model developed a different approach
where the overall efficiency of the system can be decomposed into The product of the efficiencies of
the two–stages. 2. BSC Model 3. SERVQUAL Model SERVQUAL Model (Service Quality)
developed by Parasuraman, Zeithaml, and Berry (1990). SERVQUAL built on their comparison of
two main factors, namely real customer perception of the services they receive (Perceived Service)
with actual services expected / desired (Expected Service). If the reality is more than expected, the
quality of service can be said, but if the reality was less than expected, then the service is said to be
inferior. If the same reality with expectations then the service satisfactory. ... Show more content on
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Appearance and abilities of physical infrastructure companies and the state of the surrounding
environment is tangible proof of the services provided by the service provider. This includes
physical facilities (building, warehouse, and others), technology (equipment and supplies used), as
well as the appearance of employees. In short it can be defined as the appearance of physical
facilities, equipment, personnel, and communication

Econometrics Project
Personal Consumption Expenditures, Personal Income, and CPI
1980 – 2011
April 24, 2010
Abstract
The goal of this paper is to estimate the relationship between personal consumption and personal
income among all Americans over the past 30 years. The data includes annual records for the four
variables between the years 1980 and 2011. I have analyzed this data using the Ordinary Least
Squares Method and ran a regression analysis in order to observe the relationship between my
variables. In my model, I have used Real Personal Consumption Expenditures (PCE) as my
independent variable, while the dependent variable is Real Disposable Personal Income Per–Capita.
As well, I included two explanatory variables in my model which are the ... Show more content on
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3. Empirical Model and Data
Using a multiple regression model, I estimated the relationship among my time–series data in order
to learn more about my hypotheses. C = 0 + 1 *RDPI + 2*CPI + 3*CI C = –3.540 +
3.339(RDPI) +6.888(CPI) +2.315(CI) + ei Where: C= Personal Consumption Expenditures RDPI=
Real Disposable Income: Per–Capita CPI= Consumer Price Index (Inflation) CI= Coincident Index
Using Tinn–R, I came up with the following results. The Coefficients for this model are as follows:
Estimate Std. Error t value Pr(>|t|) (Intercept) –3.540e+03 3.383e+02 –10.466 3.49e–11 ***
RDPI 3.339e–01 3.903e–02 8.555 2.68e–09 *** CPI 6.888e+00 3.061e+00 2.250 0.0325 * CI
2.315e+00 4.713e+00 0.491 0.6271 As can be observed through these results, the t–values for both
RDPI and CPI are greater than |1.96|. Therefore, both of these variables are statistically significant
and consequently have an effect on Personal Consumption Expenditures. However, the t–value for
the coincident index is not statistically significant, which means that we cannot conclude that it
affects consumption. It can be assumed through this regression model that as personal income
increases by 1 unit, consumption increases by 3.339 units. As well, as PCE increases by one unit it
can be assumed that PCE will increase by 6.888 units. Therefore, I can

Survey Responses From 1606 Kosovan Entrepreneurs Who...
Method Sample and research design This study is based on survey responses from 1606 Kosovan
entrepreneurs who completed questionnaire in face–to–face interviews during December–January
2002–2003, 2003–2004, 2004–2005 (thereafter 2002, 2003 and 2004). SME surveys were
conducted by Riinvest Institute for Development Research and one of the authors had a leading role
in this research project. Samples were selected randomly from the business register kept at the
Statistical Office of Kosova and the Ministry of Trade and Industry (2005). Interviews were
conducted by experienced and trained final year students from the Faculty of Economics at the
University of Prishtina and monitored carefully by the Riinvest research team. Respondents were
key informants, mainly the owner or the general of companies. The response rate was very high
with an average of 96.4 percent. The exclusion of these observations might lead to sample selection
bias, but in our case this is not a concern as the non–response rate is very small (around 3.6 per cent
of total cases) and also our sample remains still representative (see, Cameron and Trivedi, 2005).
Pooling data. The pooled data technique is used to test set of econometric models of firm growth.
The pooled data contains information from three independent surveys from the period 2002, 2003
2004. An ''independently pooled cross–section'' technique is obtained by pooling randomly sampled
cross–sections at different points in time (Wooldridge 2006).

Relationship Between Monetary Policy And The Stock Market
1. Introduction
In the past 20 years, the central banks in most developed countries had successfully managed to
control the inflation rate. However, the financial crisis 2008 has highlighted the links between
financial market and policy. (Ravn, 2011) The topic I am going to discuss is the relationship
between monetary policy and the stock market. What factors have influenced interest rate and how
the policymakers should react to the change in stock market have driven the increasing attentions
lately. Taylor Rule (2003) will be the core theory used to discuss the model tested. The interpretation
of simple Taylor rule is very straightforward. According to the equationi_t=c+β(π_t–π_t^* )+γ(y_t–
y_t^* )+ε_t , the policy will be mainly affected by inflation gap and output gap. (Woodford, 2001)
The reason why Taylor uses interest rate to represent monetary policy is that the central bank likes
to adjust interest rate as a tool to maintain the balance in the market. While, there is a strong debate
about the other variables, in particular, stock price volatility. After taking asset price volatility into
account, the augmented Taylor rule equation will be reformulated as:i_t=c+β(π_t–π_t^* )+γ(y_t–
y_t^* )+∑_(k=1)^n▒〖δ_k s_(t–k)+ε_t 〗. It will influence the monetary policy while the
importance of asset price in the market is very controversial. Scholars including Bernanke and
Gertler question the importance of asset price in determining the monetary policy and claim that the
influence

Econometrics Project
INTRODUCTION LITERATURE REVIEW The current economic crisis has become a major
concern of all nations today. It has led policymakers and economists to rethink about the instrument
for economics stability. One of the most damaging consequences of this crisis is the consumption
instability, which negatively affects risk adverse agents' welfare. As mentioned by Athahasoulis and
van Wincoop (2000) as well as Pallage and Robes (2003), consumption instability could have
detrimental consequences for the accumulation of human capital and physical capital. Therefore, the
study of the relationship between the economic indicators such as household consumption, GDP
growth, GNI per capita and inflation rate is necessary and important in order to ... Show more
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Yi: Gross national income per capita (measured in US dollar). It can be defined as the sum of value
added by all resident producers plus any product taxes (less subsidies) not included in the valuation
of output plus net receipts of primary income (compensation of employees and property income)
from abroad. In this model, we want to observe if gross national income per capita has a significant
effect on total private domestic consumption as a percentage of GDP. If gross national income per
capita increases, total private domestic consumption as a percentage of GDP is expected to increase
because a rise in income encourages households to spend and consume more. Thus, β3 is expected
to be positive. The data for this variable were obtained from this site –
http://data.worldbank.org/indicator/NY.GNP.PCAP.PP.CD/countries 3. Ii: Annual inflation rate
(measured in %). Inflation rate, as measured by the consumer price index, reflects the annual
percentage change in the cost to the average consumer of acquiring a basket of goods and services
that may be fixed or changed at specified intervals, such as yearly (as employed in this research
paper). In this model, we want to observe if annual inflation rate has a significant effect on total
private domestic consumption as a percentage of GDP. If annual inflation rate increases, total
private domestic consumption as a percentage of GDP is expected to decrease because inflation
implies a rise in the general level

Investigating The Nine Aspects Of The Research Articles
Introduction; This review seeks to provide an evaluation of the nine aspects of the research articles
given below and the references for these articles are given at the end of the paper. Review has been
done on four articles in order to find relationship between board size and performance of firms in
context of different countries (United Kingdom, Ireland, China and Nigeria). The problems
identified in this paper are listed below; A) Among the other problems author particularly look at
this problem; whether the impact of board size on firm's performance is negative or positive (Article
1) B) how the institutional environment like property rights influence size and composition of
corporate boards in China (Article 3) C) whether the effect ... Show more content on
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This paper further tests these following sub problems: A) What is the optimal number of board size
in UK? B) Is there any changes happened in board size and performance relation since 1990s in
UK? C) Is board size determined by firm's specific variables, such as profitability, Tobin's Q and
firm size? D) Whether the performance of board size depend on other characteristics that determine
board size. E) Why UK board plays less monitoring roles? Q3. Q3Theory: author have not discussed
any particular theory which is a drawback of this article. But discussed something which somehow
related corporate governance, boar and structure of board. The primary duty of the boards of
director are monitoring and advising. Author discussed about the advantages and disadvantages of
having small and large board members. And also discussed the importance of having outsiders in the
board. Author used three different performance measurement tools to evaluate firms performance
(profitability, Tobin's Q, ROA). Author provides evidence form different countries (such as, USA,
Finland, Switzerland, Canada, Malaysia) on the relationship between board size and firm
performance. Most of the evidence proved negative relationship between board size and firm
performance. Q5 Method; Author used generalised method of moment (GMM) estimator which
allows board size to adjust with past performance. Various regression model used; Fixed effect
model which control unnoticed variables, GMM estimator.

Advantages Of Agent Based Simulation
1. Introduction
Since the development of economics as a science, the majority of economists have used analytical
models to explain economics hugely based on mathematical principles. Starting from the basic
theorem of equilibrium which is very easily developed using mathematical principles only, to the
optimization techniques, which involves plain usage of derivatives and other mathematical
principles, these techniques lack to make a whole model with many unknowns in order to derive to a
complex set of results, in contrary to only one result working in certain assumptions that they offer.
Even though most of the theorems we use today in economics derive from analytical methods, the
need to make decisions or solve real economical issues nowadays ... Show more content on
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Agent–Based Modeling and Simulation
One could simply ask, why use ABM or ACE? As mentioned in the section above, there are several
reasons why using ABM has a sort of competitive advantages toward other analytical or statistical
based methods.
In ACE, the possibility to include a large number of agents in the model, all in distributed
corporation, provides creating of a large–scale system in order to observe micro– or macro–
principles. This is quite hard and tedious to be accomplished even using econometric principles with
the help of software program, due to the problem of biased results and limitation on the dependent
variables. In the context of ACE, several experiments can be conducted with unlimited number of
agents involved in the system.
Secondly, ACE can be considered as a great software for any business who would like to make
decision–making more strategic based, and furthermore, increase its competitive advantage in the
market, by simulation the same conditions of the actual current market, to a virtual world in a
simple software. Thereby usage of ACE is not restricted to only research–based works, but can be
used as a competitive tool for any business as well. The traditional rules of forecasting or gaining
competence in a business do not provide such advanced possibility to forecast and

Using Islamic Banks, Commercial Banks And Dual Banks
We conduct a raft of additional tests to ensure the robustness of our findings. First, our sample
consists of Islamic banks, commercial banks and dual banks, thus to ascertain how MLG work
among the three categories, we re–run equation (1) by separating the sample to three sub–samples:
Islamic banks (IBs); commercial banks (CBs); and dual banks (DBs). The results reported in models
2, 3, 4 in Table 6 and models 11, 12 and 13 in Table 7 respectively. The results are basically the
same with slight different in the coefficients significant. Nevertheless there is negative impact of
GOWN on risk disclosure however this relation is insignificant. Also the results show the FOWN
and CC has more impact in IBs rather than CBs and DBs. Finally, the ... Show more content on
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Third, we test the robustness of our results by re–regressing equation (1) and equation (2) using
weighted RDI as alternative risk disclosure index. The results reported in Table 7 are mostly the
same with those results reported in Table 6 with slight different in the coefficients significant,
therefore these findings indicates that our results are robust whether RDI is un–weighted or
weighted. Finally, and to test potential endogeneity problems which have been debated to be a
common problem in CG studies (Elshandidy & Neri, 2015; Larcker & Rusticus, 2010; Mollaha &
Zamanb, 2015; Ntim et al., 2013; Ntim & Soobaroyen, 2013), we uses 3SLS because it is more
efficient than 2SLS (Belsley, 1988; Larcker & Rusticus, 2010; Zellner & Theil, 1962). Three–stages
least squares (3SLS) methodology consist of three steps: estimates MLG instrumental values in first
step, estimates the covariance matrix for MLG instrumental values based on the residuals in second
step and finally, performs GLS regression based on covariance matrix (Dennis & Taisier, 2014;
Mollaha & Zamanb, 2015). Therefore, the model to be estimated is specified as: (2) Where
everything remains unaffected as identified in equation (1) except that we use the covariance matrix
from the second step

Population-Level Diabetes
Cory Fung
Biol 045
11/14/16
Article Analysis
An introduction to the study that provides an overview of the issues studied and discussed: The
study of "The Relationship of Sugar to Population–Level Diabetes Prevalence: An Econometric
Analysis of Repeated Cross–Sectional Data", revolves around the effects of sugar consumption on
diabetes. It is said that the rise in diabetes is mostly due to type 2 diabetes that lead to hypertension,
insulin resistance, and dyslipidemia. But it is unclear whether the prevalence of type 2 diabetes is
determined by the amount of sugar being consumed. While studies have shown that sugar plays an
independent role in obesity, obesity doesn't cause diabetes. Some countries have a large population
with diabetes but ... Show more content on Helpwriting.net ...
But an increase of sugar availability of 150 kcal/person/day resulted in a rise of 1.1% in diabetes
prevalence. From the cross national model of diabetes prevalence from 2000 to 2010, there has been
an overall increase of diabetes by 27% on average, with one–fourth of the results accounted by an
increase of sugar availability. The Gross Domestic Product coefficient also played a role in that a
1% increase in GDP resulted in a 1.07% increase in diabetes prevalence. This goes to show that
economic development is an important factor in the prevalence of diabetes. Findings further showed
that sugar significantly correlated with the prevalence of diabetes but the effects of sugar was
independent on the total calorie consumption and obesity. When the obesity factor was unaccounted
for, the effect of sugar was not drastically changed, which shows that obesity remains independent
on sugar's impact on

Cross Sectional Relationship Between Life Expectancy And...
ABSTRACT
According the Samuel. H. Preston, there is an empirical cross–sectional relationship between life
expectancy and income. Named after him, the Preston Curve shows that there is in fact a positive
correlation between the two variables.
To discuss the topic above, this brings up the research question of this paper, that is: Is the
relationship between life expectancy and income different in countries that are growing
endogenously?
Using a cross sectional data with 30 observations, this paper finds the relationship between life
expectancy and income in countries that are growing endogenously. After gathering the data and
doing the regression analysis using STATA, even though it is true that there is a positive correlation
between the two variables, income has a very small impact towards life expectancy. There are other
factors that would have a bigger impact to change life expectancy.
1. INTRODUCTION
Economists would often try to find a certain relationship between different variables. The
relationship that was found is then shown to other economists, and people would start trying to
either approve it right, or the other way, approve it wrong. One theory that is known to be proved
correct is the relationship between life expectancy and income. However, there are still people who
are trying to disapprove this theory as the world economy has changed.
Known as the "Preston Curve," this theory is an empirical cross–sectional relationship between life
expectancy

Econometric Models And Estimation Methods
3. Econometric Models and Estimation Methods
BYUIloggpa = ß + ßLoansabove7250 + ßLoansbelow7250 + ßOnline + ßPathway + ßSchol +
ßDepartment + ßCredits + ßMarr + ßGender + ßAcahold + ßHonhold + ßTranscredits + ßFirstgen +
ßMinority + ßDegree + ßOnlinePath + ßLastSemester + u
In the econometric model, the log of GPAs is the dependent variable. The independent variables, as
listed in the above model, are: amount of students ' loans, online or day student, Pathway graduate,
scholarship, department, number of cumulative credits, marital status, gender, academic holds,
honor holds, transfer credits, first generation college student, minority, level of degree attained, an
online and pathway interaction variable, and last semester, indicating when each student graduated.
The student loan variable is split into a set of three dummy variables, the reference category is if the
student doesn't have any loans, the next category is if the student has loans below 7,250 dollars, and
the last category is for students with more than 7,250 dollars in loans. The reference category for the
online dummy variable is if the student is a day or on campus student. The pathway variable is for a
student that came to Brigham Young University–Idaho through the Pathway program.
The department variable represents a set of dummy variables listing all of the different departments
from which the students in this study graduated. A list showing all of the departments included in
this variable can be found in

The Impact Of Crude Oil On The Uk Economy
THE IMPACT OF CRUDE OIL PRICES SHOCKS ON THE UK ECONOMY. INTRODUCTION:
This paper will observe the relationship between UK economic indicators and global commodity
prices. The paper will be divided into seven parts. Part one will be the introduction, part 2 will be
the literature review, part 3 will be econometric models and methodology, part 4 will be data
summary, part 5 will be results and analysis, part 6 issues/extensions of the econometrics modelling,
part 7 will be the conclusion and the references.
The process rate of UK's per capital GDP has been reasonably inspiring since year 2000, from a
normal rate of $28.1 thousand to $ 44 thousand in 2015 (Sources from World Bank Database from
the UK) the inspiring figure come from the ... Show more content on Helpwriting.net ...
The dramatic decline in the oil price since 2014 has a significant impact on the global economy.
(Jiménez–Rodríguez, 2015). How does such and unexpected price decline in the oil price shock has
impact the UK economy, precisely and which of the industry sectors where emerge as the
beneficiary or the loser from the decline of the oil price, whether the change in the oil price has
affected the UK government income and their balance sheet. In order to response to those questions,
I use the computable general Eviews. to ananlyze the effects of price changes on the oil price on the
UK economy.
LITERATURE REVIEW:
OIL PRICE SHOCKS AND REAL GDP GROWTH EMPIRICAL EVIDENCE FOR UK
A group of researchers show that oil price fluctuation have significant impact on the economic
activity. The significant are expected different from oil importing and exporting countries. (Soytas,
Sari, Hammoudeh, & Hacihasanoglu, 2009). However, those countries exporting oil an increase in
the oil price considered good news to them. When the price of oil increase the exporting, countries
gain more money, but for importing countries when the oil price decreases, it's going to have an
impact on their real economy especial when the country relies on the oil as one of their main source
of income. The monetary transmission mechanism which has the control on the interest rate which
the oil price have has an impact on

The Growth Of Pre School Children
Micro II lecture 6 Endogenous income 1. At the beginning of the century, the presence of pre–
school children was considered as one of the biggest constraints on the labour supply of married
women. Even until 1994, only 40 percent of women with a dependent pre–school child were
economically active and likely to be part of the formal labour force. Although recent studies of
participation rates in 2014 showed a rising employment rate for married women with dependent
pre–school children, evidence indicates that women with children are still less likely to work than
those without. Is such a family reason of taking care of pre–school children still a major determinant
of married women's participation rate? Or has it ever been a contributive ... Show more content on
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A linear regression model would be used. Seven essential assumptions are made upon the classical
linear regression model: (i) zero conditional mean, in which E(ui l Xi) = 0 (ii) Therefore, Cov (ui,
xi) = 0 (iii) no serial correlation, such that Cov(ui, uj)=0 (iv) homoscedasticity, var(ui l xi) =
sigma^2 (v) the regression model is correctly specified (vi) normally distributed error, ui ~ N(0,
sigma^2) (vii) random sampling, Cov(xi, xj) = 0 Under these conditions, a multiple linear regression
model is set up, having the working hours (usual basic working hours per week excluding overtime
of the married women) as the dependent variables, denoted as Yhours ; and independent variables,
denoted as follow: Xwage the gross hourly wage rate of the married female worker constructed
from their last gross earnings then divided by their hours Xage age of the married female Xagesq
age squared of the married female Xdegree a dummy variable taking 1 if the married female reports
that her highest education qualification is a degree, zero otherwise Xhealth a dummy variable taking
the value 1 if the married female reports that she has a long standing illness or disability Xchildu5 a
dummy variable taking the value 1 if the married female reports there being one or more children in
they household

Human Capital Formation in Bangladesh
Human Capital Formation and Economic Development in Bangladesh: A Time Series Analysis
Corresponding Author
Usman Qammar
M.Phil Scholar, National College of Business Administration and Economics (NCBA&E), 40–
E/I, Gulberg–III, Lahore–54600, Pakistan.
Email: economistusman@yahoo.com
Cell # 0092–03216525081
Human Capital Formation and Economic Development in Bangladesh: A Time Series Analysis
Abstract:
It is generally accepted in Economics that there is a great role of human capital formation in
determining the national income. This is the basic need and the general priority need of any country
to make policies for the human welfare and Economic Development of the country. The study uses
the GDP as a dependent variable and ... Show more content on Helpwriting.net ...
Three compulsory components of the resource endowment of an economy are the natural resources,
human resources and physical capital (Romer 1990). The formation of human capital is a continuous
process. The nation's literacy system is influenced by its socio–economic and environment.
Financing in human capital proves effective when qualified labour force is cleverly used to play its
role and to step up the economic activities through government policy. The literacy rate is known to
be a major component of human capital and most of the underdeveloped nations also Bangladesh
consume a big part of their human development resource financing on education. Physical capital
and human capital investment are compulsory if a under develop nation like Bangladesh wants to
achieve an industrial level development and per capita growth through labour productive efficiency.
The purpose of this study is on testing the casual relationship between the human capital formation
through education and economic development of Bangladesh. The study also test the direction of
causality, either the human capital formation cause economic development or economic
development become causes human capital or both of them are causing and supporting to each
other.
Literature Review:
Investment in the Physical and investment in the Human capital is considered the basic elements for
the development of a nation. There are many studies

The Workings Behind Government Bond Selling Mechanism
Abstract
Acknowledgements
Research Description
Government securities are often sold through a mechanism similar to an auction. There currently
exists a significant amount of literature about estimating such models, for example, using data from
the United States, Turkey, or France. This project aims at studying the workings behind government
bond selling mechanisms. The project will look at studies that try to empirically characterize the
strategic behaviour of participants in government bond auctions in order to construct a counter–
factual estimate of auction outcomes under either a discriminatory or uniform price format. Using
structural econometric methods, it is possible to construct estimates of the bid functions of auction
participants, i.e. ranges of quantity and price combinations for the different bidders, and to then
form an estimate of auction revenues if a country were to switch from, for example, a discriminatory
to a uniform price mechanism.
This research project will aim at reviewing these studies and their underlying theoretical framework
and provide a discussion about how to empirically characterize the New Zealand government bonds
selling mechanism, in particular how to empirically characterize the strategic behaviour of financial
institutions buying New Zealand government bonds.
Introduction
According to Klemperer (1999), the study of auction theory is very important for theoretical,
practical, and empirical reasons. Firstly, a large proportion of

The Role Of Indian Fdi On Nepalese Economic Growth
3. Data and Methodology Present paper utilizes the annual data of GDP, Indian FDI, level of
Investment and Export in real terms from the period 1989/90 to 2013/14. The concerned variables
are transformed into logarithm and hereafter these are denoted by 〖LnGDP〗_t,〖LnFDI〗_t
〖LnI〗_t and 〖LnX〗_t . Fully Modified Ordinary Least Squares (FMOLS) is the main
econometric methodology used in this paper to examine the role and impact of Indian FDI on
Nepalese economic growth. The FMOLS of economic growth of Nepal on Indian FDI augmented
with level of investment and export has been used to find the magnitude of long run relationship
between the variables under study. GDP is taken as the proxy for Nepalese economic growth. Some
attention is necessary while employing FMOLS test. The variables under study must be
cointegrated. So before applying the FMOLS we examine the cointegration by method of Johansen's
(1990) cointegration test. Prior to employing the Johansen's Cointegration test we perform unit root
test using ADF method. FMOLS method was designed by Phillips and Hansen (1990) to estimate
the cointegrating regressions. This method employs a semi–parametric correction to eliminate the
problems created by long run correlation between cointegrating equation and stochastic regressors
innovations. This method is used to modify the least squares to account for serial correlation effects
and for the endogeneity in the regressions that result from the existence of cointegrating

Prowess Case Study
We use firm level data provided by Center for Monitoring Indian Economy PROWESS database.
"Prowess is a database of active business entities for which some structured information related to
their financial performance is available. It is only the largest and most comprehensive database on
the financial performance of Indian business entities." (CMIE) Annual reports of the companies
containing information on income statements and balance sheet are one of the most important
sources of data. The database covers manufacturing and service sector's listed and unlisted large
medium and small firms sector. It includes National Industrial Classification (NIC) two digit non–
financial public and private limited manufacturing firms trading on ... Show more content on
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In this model the productivity of a firm in a given region and time is determined by the productivity
of firms in other regions and also other explanatory factors of firms in other regions. If both θ=0 and
λ=0, it will be a simple Spatial Autoregressive Model (SAR). Thus productivity of firm in a given
region and time period is affected by the productivity of firm in another regions. Another possible
case can be when ρ=0 and θ=0 which will be Spatial Error Model. This model incorporates the
effect of shocks in dependent variable of other cross sectional units to productivity of region. We
estimate the different versions of this model. But mostly rely on the Spatial Durbin Model for
interpretation purposes. The null hypotheses to be tested are: ρ=0 β_k=0

Crowdfunding
SOME PRACTICAL GUIDANCE FOR THE IMPLEMENTATION OF PROPENSITY SCORE
MATCHING
Marco Caliendo IZA, Bonn Sabine Kopeinig University of Cologne
Abstract. Propensity score matching (PSM) has become a popular approach to estimate causal
treatment effects. It is widely applied when evaluating labour market policies, but empirical
examples can be found in very diverse fields of study. Once the researcher has decided to use PSM,
he is confronted with a lot of questions regarding its implementation. To begin with, a first decision
has to be made concerning the estimation of the propensity score. Following that one has to decide
which matching algorithm to choose and determine the region of common support. Subsequently,
the matching quality has to ... Show more content on Helpwriting.net ...
It originated from the statistical literature and shows a close link to the experimental context.1 Its
basic idea is to find in a large group of nonparticipants those individuals who are similar to the
participants in all relevant pretreatment characteristics X. That being done, differences in outcomes
of this well selected and thus adequate control group and of participants can be attributed to the
programme. The underlying identifying assumption is known as unconfoundedness, selection on
observables or conditional independence. It should be clear that matching is no 'magic bullet' that
will solve the evaluation problem in any case. It should only be applied if the underlying identifying
assumption can be credibly invoked based on the informational richness of the data and a detailed
understanding of the institutional set–up by which selection into treatment takes place (see for
example the discussion in Blundell et al., 2005). For the rest of the paper we will assume that this
assumption holds. Since conditioning on all relevant covariates is limited in the case of a high
dimensional vector X ('curse of dimensionality'), Rosenbaum and Rubin (1983b) suggest the use of
so–called balancing scores b(X), i.e. functions of the relevant observed covariates X such that the
conditional distribution of X given b(X) is independent of assignment into treatment. One possible
balancing score is the propensity score, i.e. the probability of participating in a programme

Critical Analysis Model
A Critical Analysis of The Kaya Identity:
OLS Estimator Modeling, Variable Specification, Renewable Energy, and Multicollinearity
Laurie Alexis Sauvageau–Robillard
Clarkson University
April 29,2017
Abstract
The following analysis attempts to understand how to best formulate a stochastic model using
empirical data and the proposed Kaya Identity, as well as further explore components of the IPAT
equation that measures human impact on the surrounding ecological system. Using Quarterly Data
from the United States from 1980–2016, an econometric critique and environmental exploration of
datasets, regression functions, and pitfalls of the latter will help further examine previous works on
the use of the Kaya Identity ... Show more content on Helpwriting.net ...
Therefore, it is in turn beneficial to understand the underlying forces at work affecting these
numbers. This can be assisted using scientific models. The fields of study of energy economy and
environmental economy thus play pivotal roles in modeling these equations. Initially proposed by
Yoichi Kaya in 1980, the Kaya Identity is an econometric model which proposes to calculate Co2
emissions using 4 variables strongly associated with industry analysis: GDP Per Capita, Energy
Intensity, Carbon Intensity, and Population. More broadly, the intergovernmental panel and
sustainable scale project uses the Kaya Identity alongside a general model to calculate human
footprint called IPAT to help determine correlations amongst governmental policies and subsequent
ecological implications. IPAT structures a more multiplicative equation to encompass all the
possible variables to calculate the degradation of the environment and aggregate human impact on
surrounding ecosystems (Waggoner, 2002). Variables include Environmental impacts (resource
depletion and waste), effect of population, affluence and effect of consumption levels, and
technology used to transform goods into

Hausman, Autocorrelation Test and Heteroscedasticity,...
Hausman test
Hausman test which usually accepted method of selecting between random and fixed effects which
is running on regression equation. Hausman (1978) provided a tectonic change in interpretation
related to the specification of econometric models. The seminal insight that one could compare two
models which were both consistent under the null spawned a test which was both simple and
powerful. The so–called 'Hausman test' has been applied and extended theoretically in a variety of
econometric domains. We focus on the construction of the Hausman test in a variety of panel data
settings, and in particular, the recent adaptation of the Hausman test to semi–parametric and
nonparametric panel data models. A formal application of the Hausman test is given focusing on
testing between fixed and random effects within a panel data model. Mostly fixed effects are
accepted way to run with panel data as they always present consistent outcomes but may not be the
most effective way to implement. On the other hand, random effects usually provide to the
researcher better P–values as it considered to be a more active estimator, so researcher can study
random effects if it is reasonable to do so. Moreover, Hausman test choose a more effective model
compared to a less efficient as consistent model should presents robust estimates and consistent
results owing to the more efficient model.
Autocorrelation test
Another terms sometimes used for describe Autocorrelation these are "lagged

Essay about Business Forecasting Group Project
ECON2209, Business Forecasting, 2014 S1 Course Project (14% + 3% in Total) 1. This project has
a value of 14% of the total assessment. In addition, there is a teamwork component worth 3%. The
teamwork mark will be based on the online self and peer assessment (see Teamwork Assessment
section at the end of this document). 2. This project must be completed in a group of 3 or 4 students.
The members of a group come from the same tutorial class. Groups have been alphabetically
assigned. Each group is identified by a class number (e.g. Class 2649) and a group number (e.g.
Group 2). Please check the spreadsheets in "courseProjectGroups" to see the group you belong to.
Each group must select one person to submit the project. Each group ... Show more content on
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Your task is to analyse the data and provide answers to the above questions. While your client does
not use any technical jargons, you realise that the answer to Part (a) requires the construction of a
proper econometric model for the historical building approvals, which will in turn produce the
answer to Part (b). Your report should have four sections. The "Executive Summary" section should
contain a summary of your answers and conclusions to the client's questions. In the "Main Report"
section, you should report how you analyse the data, build and check the model, and produce the
answers and conclusions. This section justifies the contents of "Executive Summary". In the
"Further Issues" section, you should comment on the likely shortcomings of your results. The
"Appendix" section should hold the set of EViews commands used in your analysis. Further you do
want to impress your client by delivering a nicely presented report. Hints Total length of your
completed project, including all discussions, tables, graphs, EViews commands, and the cover page,
should not exceed 12 pages. The marks are distributed as: 1 mark for Executive Summary, 11 marks
for Main Report, 1 mark for Further Issues, and 1 mark for Appendix and overall presentation. Use
the principles/models/techniques up to the end of BF–09 and the end of Chapter 10 of the textbook
(inclusive). The project

Doing Cutting Edge Research Work At Leading Universities...
Doing cutting–edge research work at leading universities paints a full image of my dream.
Conducting leading–edge academic research to advance business knowledge as a learned scholar
has always appealed to me much more than conducting operating strategies to maximize corporate
value as a chief officer. For me, nothing can compared with the eagerness to discover new things,
the rapture of acquiring much knowledge, the satisfaction after intellectual interactions. To fulfill
my career goal as an outstanding academic researcher in finance area, I would like to pursue a
doctoral degree by dedicating my full–time to a research–intensive program, which can offer the
right foundation to help me get ahead. I believe that the Ph.D. program in Business Administration
(with concentration in Finance) would be invaluable in helping me meet my long–term goal.
My desire to become a researcher stems from both my personality and my experience. Born in a
family full of educators, I value knowledge more than wealth. Intelligence is the main asset in my
family–both my parents devote themselves in research and teaching as professors in universities,
though they have different specialty. Asking questions constantly and searching for answers are
greatly encouraged. And elders extol virtues mostly when I show curiosity, erudition and initiative.
But actually, I didn't come to decide on my lifetime career goal just simply to follow in my parents '
footsteps. I have tried something else and also

Using Stata for Principles of Econometrics
Using Stata For Principles of Econometrics . Third Edition I ·1· I ! t . i: f, I Lee Adkins dedicates
this work to his lovely and loving wife, Kathy , Carter Hill dedicates this work to Stan Johnson and
George Judge – ' , . Bicentennial Logo Design: Richard 1. Pacifico Copyright @ 2008 John Wiley &
Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval
system or transmitted in any form or by any means, electronic, mechanical, photocopying,
recording, scanning, or otherwise, exC;ept as permitted under Sections 107 or 108 of the 1976
United States Copyright Act, without either the prior written permission of the Publisher, or
authorization through payment of ... Show more content on Helpwriting.net ...
2.4:1 Fitted values and residuals 63 2.4.2 Computing an elasticity 65 2.4.3 Plotting the fitted
regression line 67 2.4.4 Estimating the variance of the error term 70 2.4.5 Viewing estimated

Current Rate Of Third Semester Pathway Students
As a Data Analyst, I am responsible for assisting in projections and forecasting of enrollment as
well as institutional research projects. This includes use of Excel and R to run statistical analyses in
answering enrollment and research questions. Key to projecting enrollment is a file we use called
the "Decision Model" We track various aspects of enrollment to help predict future enrollment. For
example, we track the amount of third semester pathway students since they will likely be
matriculating into the Online Degree Program. We also track the percentage of third semester
students who have historically matriculated. This way we can apply the same percentage to the
current rate of third semester Pathway students to estimate new online students. This same principle
is applied all throughout the decision model, enrollment is broken out into categories of different
students and indicators that can help predict that category.
Regression analysis is used often to answer research questions. Using R, linear regression helps to
shed light on the effects of any number of factors into college success. In addition, I have been able
to use skills from excel courses on a regular basis to create charts and graphs as well as prepare and
analyze spreadsheets. Finally, the principles of thinking like an economist often contribute to
projects that I worked on. Mostly when I've needed to understand why students are behaving in a
certain way or thinking about how to present data in the most

Summary Statistics : Data And Methods
3. DATAAND METHODS
3.1. Data
The study is completely based on secondary data for the period of 1991 to 2016. The data on
unemployment rate are compiled from World Bank. On the other hand data on inflation rate are
collected from (http://www.inflation.eu/inflation–rates/india/inflation–india.aspx). The statistical
software Eviews7 have used for statistical calculations. The detail descriptions of the variables are
shown in table 1:
Table 1: Summary Statistics
Variables Description Mean (SD)
Inflation rate (INF) Inflation rate is defined as the annual percent change in consumer prices
compared with the previous year's consumer prices 7.70 (3.19)
Unemployment rate (UNP) The unemployment rate is the percentage of the total workforce that is ...
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4. RESULTS
The objective of this study is to investigate the causality relationship between inflation and
unemployment in India. For this purpose we have used the standard econometric model of granger
causality. But, before estimating the granger causality we must have check the stationary property of
the variables. This is because if the variables are non–stationary then, the granger causality test may
give misleading results. To test the stationary property of variables, we have used Phillips and
Perron (1988). The result of unit root test is shown the table 2:
Table 2: Phillips–Perron test for unit root
Variables Level 1st difference
Inflation rate (INF) –11.61 (P=0.18) –29.09*** (P=0.00)
Unemployment rate (UNP) –10.97 (P= 0.13) –32.03*** (P=0.00)
Source: author's calculation; Note: *** represent the 1 percent level of significance.
The above table shows the result of Phillips–Perron test unit root test. It seen from the table that, the
null hypothesis of unit roots is not rejected for both the variables i.e. inflation rate and
unemployment rate. This indicates that both variables are not stationary at level. However, inflation
rate and unemployment rate are found to stationary after first difference. Since the variables are
stationary at first difference, they can be further tested for co–integration. We have used Johansen
Co–integration Test to find the Co–integration.
Table 3: Johansen tests

This literature review aims to review the debate as to...
This literature review aims to review the debate as to whether military expenditure has a positive or
negative impact on economic growth in Israel, in order that gaps in the literature can be identified
with a view to identifying a research question for this dissertation. This literature review will
accordingly examine the main schools of thought in regard to the impact on economic growth.
The connection between military expenditure and economic growth has been analyzed from several
perspectives, at the industrial, national and private–sector firm levels. Other issues have been
researched, such as relationships between civilian and defence research and development and the
potential for development of scientific and engineering ... Show more content on Helpwriting.net ...
Judging by the data, one would most likely conclude that an enhanced proportion of military
consumption promotes growth.
Deger and Sen (1995) claim that there is a minimal number of definitive empirical results and
provide conceptual reasons for these results. They focus on concepts such as causality and
simultaneity that may have affected the results. Suggestions to resolve this flaw consisted of a
mixed–time series, which was used by Macnair, Murdoch Pi and Sandler (1995) to achieve positive
findings for a small number of NATO countries. The results vary and Ram (1995) surveys the
discussions of the various research approaches.
A fundamental issue with the combination of cross–section studies across countries with time–series
studies of a single country is that there is no market price for military output and the factor
payments are funded by civilian tax revenue. Deger and Sen (1995) produce a more appropriate
model which takes into account the nature of the public good provided by military security and the
need for it to be publicly funded. Viewing defence expenditure as a public good enables researchers
to take into account a range of interactions between military expenditure and economic growth. The
interactions considered are a) increased security, which directly improves social welfare b)

Healthcare Econometrics
The goal of econometrics is to aid decision making in a business setting. By analyzing seemingly
unrelated sets of information, economists hope to see correlations that may help make informed
choices. (Ouliaris, 2012) Econometrics has its limitations–if data is incomplete or if the sampling
period is insufficiently short the resulting information may not give the full picture as intended by
the economists. (Ramcharan, 2012) This paper will discuss the use of econometrics in the healthcare
setting. Use of statistics and analysis may have a role in decision making in future hospital
spending. One example of how an econometrics study may help is in the healthcare setting:
hospitals and physician providers rely on professional nursing and other allied health staff to care
for the patient–consumers of in the healthcare field. It can be difficult to predict staffing needs in the
short term; how many nurses are required to safely care for patients within the budget in the next
week, month or even year? Many factors must be considered such as patient acuity, meaning how
sick are the patients, what is the skill level of ... Show more content on Helpwriting.net ...
Unfortunately the analysis may be somewhat ambiguous, or may not tell the whole story. It will be
extremely important to use other data sources to help in the decision making process. In the case of
the hypothetical health care system, a look at the slowing trend of healthcare spending and the
increasing cost of health insurance are very important considerations when deciding to expand
services or build new facilities. (Farley, 2014) Other factors to consider would be: is the political
climate of the area accepting of new hospital growth? Is the population of a given area in need of
new services? Econometrics should be just one tool to be used in such important decision

Econometrics
Applied Econometrics BE5103
Tutorial 1
Q1 a) In the simple OLS regression estimation it is not possible that all actual independent Yi values
lie above the estimated regression line. This is because OLS minimizes SUM ê2 , the residual , ê, is
the difference between the actual Yi and the predicted Yi and has zero mean. In other words, OLS
calculates the slope coefficient so that the difference between the predicted Yi and actual Yi is
minimized.
The OLS estimates of the βs: Are unbiased – the βs are centred around the true population values of
βs Have minimum variance – the distribution of the β estimates around the true βs are as tight as
possible Are consistent – as the sample size(n) approaches infinity, the estimated βs ... Show more
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The closer that R2 is to 1, the better the fit meaning the group of independent variable could explain
better what happens to the dependent variable. R2 may not be the best estimate at times because if
we add another independent variable to the model the R2 would increase but it does not say
necessary the model becomes better. Therefore some would prefer to look at the adjusted R2 as it
would only increase if the variable used are relevant to the model. Addition of independent variable
to the model would not result in an increase in adjusted R2 if the variables does not improve the
model.
We can then look at the T–Statistics to see how individual variable can explain the dependent
variable, by doing a T–test comparing it with the Critical value T. By doing a 10%,5% or 1% test.
We could also look at the model as a whole by looking at the F–Statistics and doing a F–test.
With Eviews regression we can simply look at the P–Values to see at which level of confidence we
can reject the Hypothesis, From the above 3models, it seems that R2 is highest in model 3, and the
adjusted R2 is also the highest in the model which tells us that the independent variable are better in
explaining the dependent variable. Model 3 is a better regression model. Income per person is a
better independent variable rather than income and population as a variable. Again this goes in line
with economic theory, as income per person increases it would result increase

Evaluation Of The Testing Techniques
4.3 Evaluation of the Testing Techniques
4.3.1 Hypothesis
According to Wetcher–Hendricks (2014), the basic principle of hypothesis testing is to make an
assumption for the overall characteristics, and then making a judgment about the original hypothesis
should be accepted or not, which is based on the statistical inference. Based on the research
objective, the general idea of hypothesis testing for PPP started from the null hypothesis, which was
expressed as having a unit root. Next, performing t–test, meanwhile, comparing the value of t–
statistic with test critical values under the selected confidence interval. When the value of t–statistic
was larger than the critical value, the null hypothesis would not be rejected, meaning the existence
of the unit root. If the t–statistic value was smaller than the critical value, one rejected the null
hypothesis, which implies that the financial time series is stationary.
4.3.2 Unit Root Test
The Unit Root Test, also named Augmented Dickey–Fuller Test (ADF Test), is put forward
according to whether the macroeconomic datum or financial datum has some special characteristics,
which is a particular method to test stationarity of the financial time series (Choi, 2015). To put it
simply, testing the unit root is to examine whether there will be a unit root in the analysis of time
series or not. The financial time series would be considered as non–stationarity if the unit root
exists, which is likely to result in spurious regressions. Due

U.s. Investment Abroad And Foreign Direct Investment
Abstract
With recent technology advancements and globalization process, there exists more cases of
domestic capital invested into foreign domains to exploit foreign markets. This paper aims to study
the effect of U.S. direct investment abroad, and foreign direct investment (FDI) in the U.S. on the
unemployment rate in U.S. A dummy variable will be tailored to explain the impact of the 2008
financial crisis and its spill–over effect in to 2009, in relation to the overall quarterly time series data
from 1994 to 2014. Multiple linear regression results confirm while both foreign direct investments
and U.S. investments abroad are critical components in the model, FDI is comparatively more
important determining unemployment rate.
Introduction
The Globalization process have provided many benefits for both developed countries and
developing countries. With recent breakdowns of economic barriers for countries to have easy
access of foreign investment capital, developed countries such as the U.S. have the opportunity to
explore immature markets, while developing countries will receive the financial resources,
advanced technology, and managerial skills necessary for a faster pace of economic development.
Foreign direct investment by multinational corporations is the action of obtaining controlling equity
share of a firm in a foreign country. There has been many discussions about the role of FDI in
affecting a country's unemployment rate and economic growth. Of which many believed

Research Methodology Of A Research Approach Essay
3. Research Methodology In order to address the objectives set out in this research, a quantitative
research approach has been employed and follows models developed by Tinbergen (1962),
MacCullum (1995), Andrew (2002), and Augustin and Tawah (2012). The study is designed in such
a way that it doesn't take the entire model developed by any one of these scholars, instead it adopts
those variables which are appropraite to the situation under investigatation and adds some relevant
explanatory variables. 3.1. Research Design In this study, 11 independent variables have been used
to measure the pattern of the dependent variable. Dependent variable vary by the factors that
influence them where as independent variables stand on their own – changes in other variables in
the model have no effect on them. An independent variable in one context may be a dependent
variable in another. The dependent variable in this research is the average of bilateral trade and the
research is designed to learn more about the determinants of the direction of trade in the EAC
member states. GDP in both trading partners, distance between the centers in both the trading
partners, number of people in both countries, membership in a preferential trade agreement, the
existence of common border, language, having sea gate, colonial ties, and membership in the EAC
regional integration are the independent variables. 3.2. Model Specification Trade flow modelling
has been at the center of trade researches over the

Study
Working during school and academic performance Todd R. Stinebrickner and Ralph Stinebrickner1
please direct correspondence to Todd R. Stinebrickner Dept. of Economics The Social Science
Centre The University of Western Ontario London Ontario Canada n6a 5c2 trstineb@julian.uwo.ca
phone 519 679–2111 ext. 5293 fax 519 661–3666 Unique new data from a college with a mandatory
work–study program are used to examine the relationship between working during school and
academic performance. Particular attention is paid to the importance of biases that are potentially
present because the number of hours that are worked is endogenously chosen by the individual. A
"naive" OLS regression, which indicates that a positive and statistically ... Show more content on
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Instrumental variable (IV) estimators represent a theoretically appealing way to deal with the
endogeneity problem. However, in practice it is often difficult to find instruments that both explain a
reasonable portion of the variation in work hours and are unrelated to an individual's academic
performance except through their effect on hours worked.3 Unfortunately, when methods for
controlling for endogeneity are not entirely satisfactory, the researcher can be left without any
manner in which to determine the extent to which bias may be present in his/her estimates. Even
when estimates seem "reasonable," a large amount of bias may be present. In this paper, we utilize
unique new data in an attempt to examine the extent to which the endogeneity of hours may bias
estimates of the effect of employment on academic performance. The data are obtained directly
from the administrative records of Berea College. Located in central Kentucky, this liberal arts
institution operates under a mission of providing an education to those who "have great promise, but
limited economic resources." As part of this mission, all students who attend Berea receive full
tuition scholarships. Part of the cost of

Price Variations Of A New Mobile Products
The above figure discloses that: Price variations of two products nearly share the same trend; they
all represent a declining trend. In the former 14 sessions, price variation is more flat; but since then,
the range of depreciation enlarges. Prices of mobile products always show a rather wider range of
declining no matter at former phase or latter phase. According to above analysis, retailers begin to
apply discounts to promote sales after new products are revealed as a new mobile products typically
have a short life expectancy due to innovation updates, retailers intend to capitalize on their
investment by trying to recover profitability at the early stages of the product's introduction on the
market place. As for book products, ... Show more content on Helpwriting.net ...
The model is: 〖log(〗⁡
〖price)=c+a_1 〗MCRs + a_2 Doctoms+ i=19b_iRetailer+
i=131diProduct+ ∑_(i=1)^16▒〖t_i Week〗+e . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .(1) In the above mode, α1 + α2 = 0, ∑_(i=1)^3▒b_i =0, ∑_(i=4)^9▒b_i =0,
∑_(i=1)^31▒d_i =0, ∑_(i=1)^16▒t_i =0, which are restriction conditions set for eliminating traps of
virtual variables. The explained variable 'Price' refers to price level; within explanatory variables,
Dotcoms, MCRs are variables what reflect types of retailers; 'Retailer' stands for variable of specific
retailers in the samples, and 9 retailers are used as samples; 'product' refers to specific variables of
products (31 products are sampled here); 'week' is time variable (16 time points are sampled); the
above explanatory variables are all confined between 0 and 1. 3.4.2 Analyzing results of
econometric model From aspect of research objectives of this paper, α1 and α2 are the most
important variables in the above model; if they are equal, then the prices of two retailers are the
same. At the same time, according to fitted value of the non–estimated parameter αi (i=1, 2), it can
be measured that whether the factors have significant influences on retailers' pricing. In

The Causality Of Foreign Direct Investment And Economic...
Testing the Causality Between Foreign Direct Investment and Economic Growth
Ned R Jackson
Utah Valley University
March 2015
Abstract
This paper looks to determine the causality of foreign direct investment and economic growth.
Implementing common and basic econometric techniques to test the association between these two
topics in The United Arab Emirates. In past research it has been implicated that FDI has causality in
economic growth mainly due to the ability FDI has to introduce new technology to the host country
from the foreign countries who are in many cases much more technologically advanced. However,
we hope to show that though there may be a stronger causality between FDI to economic growth
that there is enough evidence to show that there are cases in which economic growth is the cause for
the expansion in FDI that has taken place. =Results from the Solow growth model and Unit root test
will allow us to interpret the true relationship between these two economic factors for the United
Arab Emirates specifically.
Introduction
The correlation between foreign direct investment (FDI) and economic growth is well documented
see (Borensztein, De Gregorio, J–W. Lee 98). Even though there has been an extensive amount of
research, which includes both FDI and economic growth, there still seems to be a substantial divide
between the results; which are concluded within these papers. To begin in this research paper we
will define foreign direct

Study of Profitability of a Logistics Company
STUDY OF PROFITABILITY OF A LOGISTICS COMPANY USING ECONOMETRICS TOOLS
Executive summary
This study examines the impact of three factors, namely Sales, Fixed assets and Interest paid on the
profitability of a logistics company. Econometric tool of multiple linear regression model was used
for analyzing the impact of above factors on profitability of a major logistics company GATI
Limited. Based on the financial data of last 10 years 2000–2009 the regression analysis has revealed
that profitability of GATI ltd. is significantly affected positively by increase in fixed assets and
adversely affected by increase in interest paid. The impact of increase in sales volume on
profitability is positive but miniscule. In addition seasonality ... Show more content on
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Moreover, projects such as the Golden Quadrilateral program, National Maritime program, and
introduction of freight corridors in rails shall strengthen the growth. The current economic scenario,
which is largely impacted by the global slowdown however is expected to recover soon with the fall
in logistics costs due to the huge developments in infrastructure. With the rise in disposable
incomes, changing consumer preferences, fast emerging retail segments, infrastructure investment,
the Indian logistics sector and the 3PL markets are expected to witness explosive growth in the
successive years.
Constraints and Challenges
The biggest challenge faced by the organised logistics companies in India today, is competition from
the unorganized operators. This is coupled with increasing environmental pressures, government
regulations and subsidies for infrastructure development. Adding to all these, is the lack of "Industry
status" to the logistics sector.
Business Risks and Mitigation
The Year 2008–2009 for India was quite different from the expectations of industry stalwarts and
economy speculators. Increase in input materials costs, wages, interest and transportation forced
companies to cut costs. Logistic service providers therefore are required to be cost effective and
more efficient to compete in market place. High logistics and warehousing costs in India shows that
there are

Propensity-Score Matching (Psm). The Propensity Score...
Propensity–Score Matching (PSM)
The propensity score matching model is a method used to evaluate the average effect of a
programme on participants' outcome, conditional on the pre–participation characteristics of such
participants (Bryson, Dorsett, & Purdon, 2002). The PSM technique has been applied widely in a
variety of fields in the program evaluation (Heinrich et al., 2010).The model is appropriate for
addressing the problem of selection bias (Wooldridge, 2002) in determining the difference between
the participant's outcome with (in this case adoption of weather index insurance) and without (non–
adoption of the weather index insurance) programme (Pufahl & Weiss, 2008). Pufahl & Weiss also
note that participants and non–participants ... Show more content on Helpwriting.net ...
Instrumental variables and design approach, though suitable raises difficulties in finding a suitable
instrument because, in identifying the treatment effect, one needs at least one regressor which
determines participation, but is not itself determined by the factors which affect outcomes (Blundell
& Costa Dias, 2000; J. J. Heckman, 1995).
The regression discontinuity method on the other hand needs a large number of farmers next to the
discontinuity to draw meaningful decision. However, this is difficult because the further one moves
from the discontinuity line the more the variable characteristics vary (Winters et al., 2010). PSM
assumes that farmers who receive treatment and those who do not, differ not only in treatment, but
also in characteristics that affect participation and the outcome (Heinrich et al., 2010). It thus seeks
untreated (in our case non–adopters of weather index) farmers who have the same characteristics of
the treated (adopters of weather index) farmers and matching them using propensity scores and thus
creating a quasi–experiment (Winters et al., 2010). The propensity score was therefore used to
estimate the probability of receiving treatment (adoption of

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