Optimal Tariffs with FDI: The Evidence

Recent theoretical work suggests that the presence of foreign direct investment (FDI) lowers a country’s noncooperative Nash tariff. To test this hypothesis, we first adapt the theoretical model formulated by Blanchard (2010) to derive an intuitive, empirically testable equation. This equation is an augmentation of the standard formula equal to the inverse of export supply elasticity. Using constructed estimates of export supply elasticities and measures of FDI, we test this hypothesis with respect to tariffs set by China prior to 2001. We focus on China before its accession into the World Trade Organization (WTO) for two primary reasons: first, China is a recipient of FDI during this time; and second, prior to becoming a WTO member China can be seen as a player in a noncooperative game. We find evidence to suggest that before entering the WTO, China chooses lower tariffs, ceteris paribus, for industries that receive more FDI. This is an important result since having a better understanding of how countries act unilaterally will provide insight into the multilateral cooperative outcome; that is trade negotiations.Foreign direct investment; Optimal tariffs

PREVENTING RANSOMWARE WITHIN LOCAL GOVERNMENT AGENCIES: A PUBLIC POLICY ANALYSIS PERSPECTIVE

Cases of ransomware within local government agencies have become prevalent over the last decade. While solutions to ransomware are available, local government agencies are slow to implement such measures. As a result, local government agencies are among the most famous victims of ransomware. This project attempts to provide an answer for ransomware prevention within these agencies from a public policy perspective. To formulate this answer, the issues local governments face in combating ransomware are compared to the solutions implemented in the private sector. This project then analyzes the mechanisms local governments have at their disposal to implement such solutions through the public policy analysis process and provides a hypothetical policy agencies can use to combat ransomware. Finally, a real-world case study provides a context of what solutions local governments have implemented and where these agencies are falling short. This project found that policies focused on ransomware and cybersecurity at large are not being developed nor implemented within local government agencies. It is recommended that local government agencies should consider developing and implementing specific policies to combat ransomware and other cybersecurity crimes.

BUILDING SOCIAL INFRASTRUCTURE THROUGH PUBLIC-PRIVATE PARTNERSHIPS: THE CASE OF STUDENT HOUSING IN PUBLIC HIGHER EDUCATION

Evaluations of Public-Private Partnership arrangements as alternatives to traditional government procurement methods for the delivery of public infrastructure projects have been anecdotal at best. This paper proposes a framework to evaluate a public university\u27s infrastructure asset management performance and a specific measure based on a new concept of the elapsed time required for services to be delivered (i.e., Project Completion Time). The results suggest that the choice to use a public-private partnership as a project delivery method for student housing at a public university can dramatically shorten the overall schedule. This research will serve as the foundation for future quantitative research on the relationship between PPPs and the performance of various types of public projects

Back from Oblivion: Society and Literature in Ventura Ruiz Aguilera’s \u3ci\u3eEcos nacionales\u3c/i\u3e and \u3ci\u3eProverbios ejemplares\u3c/i\u3e

Ventura Ruiz Aguilera (1820-1881) enjoyed great popularity and influence throughout the mid- 19th century in Spain. He was most famous for his book of poems Ecos nacionales (1849), which was inspired by the people. Although he continued to attract attention amongst literary critics, shortly after his death Aguilera’s popularity declined. This investigation explores the representation of society in both Aguilera’s Ecos nacionales and his prose collection Proverbios ejemplares (1864). By reexamining these two texts, I reveal how Aguilera’s works partake in discussions of both literary and social issues with an emphasis on progress and modernity. When Aguilera published Ecos nacionales, he found inspiration in traditional forms, particularly the romance, and infuses in it elements of the European ballad to create a contemporary and innovative venue for the representation of Spanish issues. I show that Ecos communicates and seeks change by airing social ills in the voice of the Spanish masses. The inclusion of the masses aims to democratize Spanish poetry by giving a presence to marginalized groups who did not have a role in the representation of the nation at the time of the publication of Ecos. This investigation also explores Aguilera’s representation of the middle class in Proverbios ejemplares as well as this work’s contribution to the development of Spain’s modern novel. Aguilera is one of the first Spanish authors to integrate in prose fiction representation of middleclass life and values, which would come to be the focus point of the Realist novel. I show how this depiction of the middle class displays the problematic relation between modernity and tradition in Spanish society. I discover that Aguilera, writing against an imposition of modernity from outside, aims to give modernity in Spain a Spanish face from within

OPTION VALUES FOR PROVISIONS IN EXPORT CREDIT GUARANTEES

All major exporting countries of agricultural commodities have some form of credit guarantee program. As the importance of credit programs escalates, it is incumbent on policy makers to examine the value of their program relative to those of competitors. In this study, a model based on option pricing theory was developed to estimate the value of credit guarantees extended to importers and applied to U.S. and competing countries' programs. The Canadian guarantee has the lowest implicit value, followed by the U.S., Australian, and French guarantees. French guarantees had the highest implicit value due to higher coverage for interest and freight and insurance.International Relations/Trade,

Malt Barley Risk Management Strategies

Crop Production/Industries, Risk and Uncertainty,

PRODUCTION RISK AND CROP INSURANCE IN MALTING BARLEY: A STOCHASTIC DOMINANCE ANALYSIS

Malt barley is an important specialty crop in the Northern Plains and growers mitigate risk with federally subsidized crop insurance and production contracts. However, growers face considerable risk due to "coverage gaps" in crop insurance that result in uncertain indemnity payments due to uncertainty of their crop meeting contract specifications. A stochastic dominance model is developed to evaluate alternative risk efficient strategies for growers with differing risk attitudes and production practices (irrigation vs. dryland). Results show that efficient choices are highly dependent on risk attitudes for dryland growers, but not irrigated growers. Sensitivities with respect to acceptance risk and level of crop insurance subsidization are presented. Increased specialization of agricultural crops with greater emphasis on quality characteristics will limit dryland producer interest in federal crop insurance.Crop insurance, malting barley, stochastic dominance, stochastic efficiency, Risk and Uncertainty,

Valuing Option Provisions for Export Credit Guarantees

International Relations/Trade,

ECONOMIC EVALUATION OF CROPSHARE AND CASH LEASE CONTRACTS IN SOUTH DAKOTA AND NEBRASKA

Factors influencing choice of share or cash rental leases for cropland are examined using a 1996 dataset containing 1071 lease contracts in Nebraska and in South Dakota. Logistic regression results indicate tenant's age, capital position, and relationship with landlord were more important than leased land use or crop management variables.Farm Management,