383 research outputs found
An empirical examination of the currency denomination of trade
No full textThe currency denomination of trade has important effects on inflation and the macroeconomic transmission of shocks. This study examines the currency denomination of Italian exports and imports with countries outside the European Union during 2010. By using a unique dataset we find evidence to suggest that invoicing currencies do not always have consistent determinants. Significant effects, new to the literature, include the massive, robust effect of geography and tax treaties, which suggest the importance of information asymmetry. The distance between trading partners has one of the largest marginal effects, increasing the likelihood of vehicle currency use relative to the euro
Migration and the currency denomination of trade
No full textUsing a large, transaction level, data set of Italian exports and imports with non-European Union countries, we assess the role of migrants’ networks in shaping the currency denomination of trade. Our results, new to the literature, show sizable, significant effects of migration on the currency denomination of trade. Generally, more migrants lead to more invoicing in the exporter’s and importer’s currency relative to a vehicle currency, higher educated migrants increase invoicing in the exporter’s and importer’s currency relative to a vehicle currency, and Italian migrants living in foreign countries have a greater impact relative to foreign migrants living in Italy
Network-adjusted market share and the currency denomination of trade
No full textThe currency denomination of trade has been shown
in many recent contributions to have far-reaching
effects
on different macroeconomic phenomena, such as
inflation and the international transmission of nominal
shocks. In this work, we apply a novel index of bargaining
power, which incorporates the network dimension
of trade and brings fresh evidence as to the relevance
of network-related
features (and implied bargaining
power) in the choice of invoicing currency, which has
received relatively little attention in the empirical literature,
so far. By using a highly disaggregated, almost
transaction level, data set of Italian imports and exports,
we contribute to the existing empirical literature by
documenting a very significant impact of trade network
asymmetries, captured by our adjusted index of market
share, on the choice of an invoice currency
Harpur Palate, Volume 10 Issue 2, Winter 2011
No full textContributors: Edward Adams | Bipin Aurora | Kate Blakinger | Randall Brown | Ryan J. Browne | Chris Bullard | Kara Dorris | Peter Grimes | Andrey Gritsman | Alec Hershman | Susan H. Maurer | Carolyn Moore | Travis Massotti | Mark Neely | Jack Ridl | Rochelle Jewel Shapiro | David Starkey | Wanling Su | Shirley Sullivan | Robert J. Tillett | Sara Tracey | William Varner | Thom Ward | Francine Witte | Catherine Woodar
Pricing to Market: Chinese Export Pricing to the USA after the Peg
No full textIn July 2005, the Chinese Government unpegged the RMB from the US dollar. As the RMB has followed a remarkably predictable appreciation over time, I examine the price of Chinese exports to the USA after unpegging the exchange rate. Results suggest that the Chinese industries with greater import market share were able to raise their prices after the removal of the pegged exchange rate regime; however, over time there is a significant deflationary trend. Chinese export prices tended to decrease under an unanticipated RMB appreciation; this effect was more pronounced for industries with more pricing flexibility. This suggests that Chinese exporters are consistently "pricing to market" and thus creating a significant foreign exchange policy implication. Specifically, a more flexible exchange rate regime will likely have little impact on the prices of Chinese exports to the USA but might increase the profit volatility of Chinese firms. Copyright (c) 2009 The Author Journal compilation (c) 2009 Institute of World Economics and Politics, Chinese Academy of Social Sciences.
Gameplay in Higher Education: The Use of Serious Games vs Traditional Instructional Methods in Learning
No full textOver the past 15-20 years, the video game industry has grown at an incredible pace. The students entering our colleges and universities, known as digital natives, have grown up with advanced technology being commonplace rather than luxury. When looking at video games, we can see elements of instruction designed in them. Additionally, we see increases in motivation and engagement when users are playing video games. Therefore, current research has theoretically proposed that video games designed around educational material can serve as effective instructional tools. These educational games and simulations are known as serious games. Although there is an abundance of theoretical data regarding the benefits of serious games, empirical data is harder to find.
This study attempted to fill some of the empirical data in regards to the benefits of serious games. The study uses three groups of students in post-secondary education classes. Each group was given instructional material covering the topic of crop domestication, but the method of transmitting the material was different (Audio Lecture, Text Reading, Serious Game). The participants took a pre-test and a post-test covering the material. Additional demographic information was gathered in order to determine differences in demographic populations using the various instructional techniques.
Results of the study showed significant learning increases in each of the three instructional techniques. The three instructional techniques were then compared against one another. Students using serious games performed significantly worse on a post-test examination. This suggests that although serious games can produce increases in learning, it does so at a lower rate than other instructional techniques when applied to the constraints of this study
Toward better regulation of private pension funds
No full textThe author analyzes the typical model for regulating investments in private pension funds. Pension reforms like those pioneered by Chile are being initiated or considered in Argentina, Bolivia, China, Colombia, Costa Rica, Hungary, Mexico, Peru, Uruguay, and elsewhere. Such reforms greatly improve fiscal discipline, make social security benefits and burdens equitable, and deepen financial markets. But they are also typically accompanied by: tight restrictions on the investments in pension fund portfolios; restrictions on the management of mandated retirement savings (to newly created legal entities called pension administrators, to the exclusion of such financial intermediaries as banks and mutual funds); minimum-return guarantees from the state and/or pension funds; and commissions based on salary rather than on the volume of assets managed. Illustrating his conclusions with case studies from Chile and Peru, the author shows that these restrictions, though well-meant, are poorly justified by financial theory, distort incentives for competition based on product choice and efficiency, increase administrative costs, and seriously reduce the affiliates'appropriate risk-return choices and returns. And the resulting potential losses in retirement income are great. The author recommends a significant departure from the Chilean-style model of a private pension fund system. He briefly describes implementation and transition issues for the alternative system that he proposes, which would: permit diverse intermediaries -including banks and mutual funds that meet appropriate prudential standards- to manage retirement savings; allow a greater choice between investment products; require that returns be reported on a net basis; and charge commissions as a fraction of assets managed.Payment Systems&Infrastructure,Economic Theory&Research,International Terrorism&Counterterrorism,Environmental Economics&Policies,Insurance&Risk Mitigation,Pensions&Retirement Systems,Environmental Economics&Policies,Insurance&Risk Mitigation,Banks&Banking Reform,Economic Theory&Research
Academic Credit for Life Experience in the College of Graduate and Continuing Studies, Concordia University-Saint Paul, Minnesota
No full textThis master\u27s thesis presents the author research on experiential learning. The literature review focuses specifically on the research of Kurt Lewin, John Dewey, Jean Piaget and David Kolb. The author discusses the recommendations and standards established by the Council for Adult and Experiential Leaming (CAEL) regarding the evaluation of experiential learning for academic credit. The author explores the challenges of this for academic credit to the university as well as the benefits it has for students. This thesis showcases The Prior Learning Assessment Center (PLAC) at the University of Phoenix as an exceptional model of a quality program. PLAC has developed many wonderful systems and tools for the evaluation of experiential learning for academic credit. The author presents recommendations to the faculty of the College of Graduate and Continuing Studies in order to strengthen and expand our life experience programs. Finally, there is an outline for a proposed credit for life experience student handbook. The author shows what information needs to be shared with students who attempt to gain academic credit for experiential learning
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