A Rising Share: Hispanics and Federal Crime

Analyzes the rise in the percentage of Latinos/Hispanics among sentenced federal offenders in 1991-2007 by citizenship status, offense, length of sentence, and U.S. district. Examines the effect of heightened enforcement of immigration laws

Построение модели рынка печатной продукции Украины

На підставі аналізу випуску видань в Україні за 1991-2007 рр. побудовано модель ринку друкованої продукції.On the basis of the analysis of release of editions in Ukraine for 1991-2007 the market model of a printed matter is constructed.На основании анализа выпуска изданий в Украине за 1991-2007 гг. построена модель рынка печатной продукции

Poor performance of mutual funds in Spain. 1991-2007

Over the past 10 and 16 years, the average return on mutual funds in Spain was lower than the average return on government bonds at any term. Over the past 10 years, the average return on the funds was lower than inflation. In spite of these results, on December 31, 2007, 8,264,240 investors held 238.7 billion euros in the 2,907 mutual funds then in existence. During 2007, the number of shareholders fell by 555,569 and the value of their assets, by 6.1%. Only 30 of the 935 mutual funds with a 10-year history outperformed the benchmark and only two of them outperformed the overall index of the Madrid Stock Exchange (ITBM). If in the past 16 years every mutual fund had achieved the benchmark return for its category, the gain in value would have been 180 billion euros, instead of the actual figure of 80 billion euros. Total fees and other expenses for the period amounted to 34 billion euros.mutual funds; return to shareholders; benchmark; appreciation of the funds:

Publishing Trends in Economics across Colleges and Universities, 1991-2007

There is good reason to think that non-elite programs in economics may be producing relatively more research than in the past: Research expectations have been ramped-up at non-PhD institutions and new information technologies have changed the way academic knowledge is produced and exchanged. This study investigates this question by examining publishing productivity in economics (and business) using data from the Web of Science (Knowledge) for a broad set of institutions – both elite and non-elite – over a 17-year period, from 1991 through 2007. Institutions are grouped into six tiers using a variety of sources. The analysis provides evidence that non-elite institutions are gaining on their more elite counterparts, but the magnitude of the gains are small. Thus, the story is more of constancy than of change, even in the face of changing technology and rising research expectations.higher education, research productivity, publishing trends, inequality

The Growth of Knowledge-intensive Entrepreneurship in India, 1991-2007

There is enough consensus to show that India's economic performance since 1991 is a direct result of the economic liberalization measures that have been put in place. One of the outcomes of this improved performance is the growth of innovations in the country. This was accompanied by or caused by the emergence of a number of technology-based enterprises. This paper takes a critical look at the available quantitative evidence on the growth of knowledge or technologybased entrepreneurship. It then looks at five facilitating factors for the emergence of this phenomenon in terms of the existence of increased market opportunities, availability of financial support schemes in the form of venture capital funds, existence and enlargement of a number of government programmes, a number of private sector initiatives and education, and training leading to the supply of technically trained personnel. The paper concludes with certain policy suggestions for the continued sustenance of this activity.knowledge-intensive entrepreneurship, knowledge process, outsourcing venture capital, angel financing, business incubators

Is there a signalling role for public wages? Evidence for the euro area based on macro data

Do public sector wages exert pressures on private sector wages, or has the private sector a leadership role in wage setting? This paper tries to isolate the pure signalling effect that one sector might exert on the other by controlling for other determinants of wages (prices, productivity, institutions) for the main euro area economies (Germany, France, Italy and Spain) and the periods 1980-2007 and 1991-2007. It exploits available quarterly information not yet used in the literature, and combines different data sources in the framework of mixed-frequencies time series models. The quarterly frequency of our data allows us to check the existence of purely intra-annual links between public and private sector wages (signalling effect). There is strong evidence of public wages’ leadership, either in conjunction with bi-directional links from the private sector (Germany and Spain) or pure public wage leadership (France in the sample 1991-2007, Italy for within-the-year linkages). JEL Classification: C32, C53, J30, J51, J52, E62, E63, H50, H6causal graph, causality, government wages, Mixed frequency data, private sector wages, signalling

Sosa versus Kornblith on Grades of Knowledge

In a series of works Ernest Sosa (see Sosa 1991, 2007, 2009, 2010, 2011, 2015, 2017) has defended the view that there are two kinds or ‘grades’ of knowledge, animal and reflective. One of the most persistent critics of Sosa’s attempts to bifurcate knowledge is Hilary Kornblith (see Kornblith 2004, 2009, 2012). Our aim in this paper is to outline and evaluate Kornblith’s criticisms. We will argue that, while they raise a range of difficult (exegetical and substantive) questions about Sosa’s ‘bi-level’ epistemology, Sosa has the resources to adequately respond to all of them. Thus, this paper is a (qualified) defence of Sosa’s bi-level epistemology

The Search For A Dog-Free Portfolio: Why Unions Matter To Investors

This paper uses portfolio filtering and weighting research to create a dog-free portfolio.  The variables used to create the dog-free portfolio include level of unionization and book-to-market.  The filtered and weighted portfolio is averaging 47 basis points alpha per month from 1991-2007 over the benchmark S&P500, outperforming in 60.8% of the months.  Using annual data, the portfolio averages 603 basis points alpha from 1991-2007 over the benchmark S&P500, outperforming 82.4% of the time.&nbsp

The dynamics of inequality change in a highly dualistic economy: Honduras, 1991-2007

We examine the drivers of inequality change in Honduras between 1991-2007, trying to understand why inequality increased in Honduras until 2005, while it was falling in most other Latin American countries. Using annual household surveys, we document first rising inequality between 1991-2005, which is followed by falling inequality thereafter. Using an inequality decomposition technique, we show that the rising inequality between 1991 and 2005 was, for the most part, driven by the dispersion of labour incomes in rural areas. We also show that the extraordinary labour earnings disequalization is mainly the result of a widening wage gap between the tradable and non-tradable sectors and occupations, combined with highly segmented labor markets and poor overall educational progress. The underlying determinants of the divergence between tradable and non-tradable sectors were highly overvalued currencies and poor commodity process for Honduras’ agricultural exports. Between 2005 and 2007, however, the inequality reduction was a result of equalizing trends in labour and non-labour incomes. The commodity boom promoting the tradable sector and remittances (in this order) played a significant role here, with government transfers playing a small supporting role. Since the decline in inequality is largely driven by international factors, we cannot be sure whether the decline in inequality will continue.Inequality, Decomposition, Education, Wages, Honduras, Migration

Monetary Integration Issues in Latin America: A Multivariate Assessment

This paper assesses the monetary consequences of the Latin-American integration process. Over the period 1991-2007, we analyze a sample of five Latin-American countries focusing on the feasibility of a monetary union between L.A. economies. To this end, we study the issue of business cycle synchronization with the occurrence of common shocks. First, we assess the international disturbances influence on the domestic business cycles. Second, we analyze the impact of the adoption of different exchange rate regimes on the countries responses to shocks.Business cycles, OCA, Bayesian VAR, Latin American countries