A Panel Data Analysis of the Repayment Capacity of Farmers

Using a balanced panel of 264 unique Illinois farmers from 2000 to 2004, this study identifies the most pertinent factors that explain the repayment capacity of farmers. After correcting for endogeneity bias caused by farmer-specific effects, one year lagged debt-to-asset ratio and soil productivity are both found to be significantly correlated with the coverage ratio at the 5% significance level using random effects. The finding is significant because it can enhance agricultural lenders ability to assess creditworthiness, screen borrowers, manage loan loss reserves, and price loans, thereby decreasing lenders costs associated with defaulted loans and ultimately reducing the costs borne by the government and taxpayers.panel data, random effects, coverage ratio, financial efficiency, solvency, liquidity, repayment capacity, profitability, creditworthiness, Agricultural Finance,

Systematic analysis of transverse momentum distribution and non-extensive thermodynamics theory

A systematic analysis of transverse momentum distribution of hadrons produced in ultra-relativistic $p+p$ and $A+A$ collisions is presented. We investigate the effective temperature and the entropic parameter from the non-extensive thermodynamic theory of strong interaction. We conclude that the existence of a limiting effective temperature and of a limiting entropic parameter is in accordance with experimental data.Comment: 7 pages, XII Hadron Physics Conference, Bento Gon\c{c}alves - Brazi

The consequences of Fiscal Episodes in OECD Countries for Aid Supply

This paper contributes to the established literature both on the side of fiscal consolidation (for e.g. Alesina and Perotti 1995; Alesina et al. 2010) and that of aid supplies (for e.g. Mosley 1985; Faini, 2006) by investigating the effects of fiscal episodes in OECD donor countries on their aid effort vis-à-vis the developing countries. We use descriptive statistics provided by Alesina and Ardagna (2010) on episodes of fiscal consolidation and stimuli in OECD countries and regression models to perform this analysis. The study is performed on a sample of 19 OECD DAC countries as well as on sub-samples for robustness check and over the period 1970-2007. Overall, the results suggest that the episodes of fiscal consolidation and the size of these fiscal austerity policies in OECD DAC countries lead to the curtailment of aid effort. Whilst during periods of fiscal expansion, aid expenditures increase, the size of these fiscal expansion policies may have an opposite effect. The fiscal austerity measures currently adopted by OECD DAC countries are likely to result in aid shortfalls to developing countries, with these effects likely be higher in the “Like-minded Donor countries”.foreign aid, Fiscal consolidation, Fiscal stimuli

Unions: Rent Extractors or Creators?

Unions: Rent Extractors or Creators