Evaluating Real World Income Distributions behind the Veil of Ignorance - How Risk Averse do you have to be to Prefer Europe over the US?

The paper uses a veil of ignorance approach and income distribution data of developed countries to arrive at inequality corrected income rankings. While a risk neutral individual (based on year 2000 data) would have preferred to be born into the US rather than any European country in our sample except Luxembourg, a coefficient of relative risk aversion of 2 suffices to make several European countries look preferable. The paper also sheds light on the risk corrected average income on a gender basis and scans for times of diminished expectations, i.e. periods where the expected utility of being born into a country has reduced over time.income distribution, veil of ignorance, cross country comparison

Digital Divide: An Econometric Study of the Determinants in Information-poor Countries

There can not be two opinions on the importance of Information and Communication Technology (ICT) for economic development. However, real disparities exist in access to and use of ICT across countries. The digital divide is a complicated matter of varying levels of access, basic usage, and applications of ICT among countries and peoples. Using the Gompertz Technology Diffusion model, this paper attempts to measure the contribution of factors such as affordability, knowledge, infrastructure, human capital, trade openness, and economic and social environment in the technology diffusion process, specially in the case of information-poor countries.Digital Divide, Information and Communication Technologies, ICT, Gompertz Model, ICT Diffusion, Economic Development, ICT Infrastructure

Modal Coupling Coefficients and Frequency/Bias Planes for Gyromagnetic Boundary Value Problems

In this paper, electromagnetic and uniform precession magnetostatic mode interaction theory is reformulated to include comprehensive electromagnetic modal impact in the determination of modal coupling calculations. For this purpose orthogonal electromagnetic and normal magnetostatic modes character is solved with coupled field Maxwell’s equations and vectorized magnetization expression to model the interactions between electromagnetic modes and magnetostatic uniform precession mode. Calculations for modal coupling factors are presented here for the first time and frequency/ bias planes are constructed using the developed modal interaction formulation with an ameliorated accuracy. The proposed formulation is validated and tested against closed form frequency/ bias solutions concerning these gyromagnetic boundary value problems.DOI:http://dx.doi.org/10.11591/ijece.v2i5.22

Marginality as a Root Cause of Urban Poverty: A Case Study of Punjab

Historically poverty as a concept was considered to be a key factor to design social policy. The social development normally is concerned with socio-economic empowerment of the poor of the concerned society. It is always been a key issue for developing as well as developed countries, however the nature and treatment of issue varies. The treatment of poverty is different from society to society. In advanced countries, an individual who is unable to actively participate in society or has weak social network, environment, health and education etc. is considered to be poor. Financial empowerment is also considered to be important in these countries but it takes into account with other dimensions of poverty [Lyberak and Tinios (2005)]. However, in developing countries, policy focus is still on uni-dimensional definition of poverty where a single dimension either consumption or income is a strong factor that affects the standard of living of an individual [Wagle (2005)]. Though the multidimensional poverty concept is also getting attractiveness in these countries with a perception that an individual’ status in one dimension cannot represent his status in another dimension but still there remains dearth of policy-making. Another important transformation in the literature on poverty is seen in terms of identification of nexus of marginality, social exclusion and poverty [Ruth, et al. (2007); Zoran, et al. (2006); Whelan and Bartrand (2005)

Evaluating real world income distributions behind the veil of ignorance: How risk averse do you have to be to prefer Europe over the US?

The paper uses a veil of ignorance approach and income distribution data of developed countries to arrive at inequality corrected income rankings. While a risk neutral individual (based on year 2000 data) would have preferred to be born into the US rather than any European country in our sample except Luxembourg, a coefficient of relative risk aversion of 2 suffices to make several European countries look preferable. The paper also sheds light on the risk corrected average income on a gender basis and scans for times of diminished expectations, i.e. periods where the expected utility of being born into a country has reduced over time

Digital Divide: An Econometric Study of the Determinants in Information-poor Countries

There can not be two opinions on the importance of Information and Communication Technology (ICT) for economic development. However, real disparities exist in access to and use of ICT across countries. The digital divide is a complicated matter of varying levels of access, basic usage, and applications of ICT among countries and peoples. Using the Gompertz Technology Diffusion model, this paper attempts to measure the contribution of factors such as affordability, knowledge, infrastructure, human capital, trade openness, and economic and social environment in the technology diffusion process, specially in the case of information-poor countries

The Impact of Public Expenditure Components on Economic Growth in Pakistan.

This study examines the relationship between health expenditure, expenditure on education, Gross Fixed Capital Formation, Military Expenditure, Fiscal Balance (Deficit) and economic growth in Pakistan. The period of study is from 1972 to 2015. ARDL Bounds Testing approach for co-integration and ECM Technique were applied to study the long run and short run relationship among the above mentioned variables. “Granger Causality Test” was applied to find out the direction of causality. The results reveal a long run relationship between Military Expenditure, Gross Fixed Capital Formation, Fiscal Balance and Economic Growth. The results of “ECM” show the short run relationship among these variables. However, there is no long run relationship between Health Expenditure, Expenditure on Education and Economic Growth. The speed of adjustment is high which 62.28% is. “Granger Causality” test reveals that “causality runs from Military Expenditure to Economic Growth”. It further reveals causality from health expenditure to fiscal balance and from fiscal balance to Military Expenditure. It is concluded that fiscal policy has an important role in boosting economic growth

Evaluating real world income distributions behind the veil of ignorance: How risk averse do you have to be to prefer Europe over the US?

The paper uses a veil of ignorance approach and income distribution data of developed countries to arrive at inequality corrected income rankings. While a risk neutral individual (based on year 2000 data) would have preferred to be born into the US rather than any European country in our sample except Luxembourg, a coefficient of relative risk aversion of 2 suffices to make several European countries look preferable. The paper also sheds light on the risk corrected average income on a gender basis and scans for times of diminished expectations, i.e. periods where the expected utility of being born into a country has reduced over time

The Interrelationship between Money Supply, Inflation, Public Expenditure and Economic Growth

This study examines the association between money supply, inflation, government expenditure, and economic growth in Pakistan from 1972 to 2015. “ARDL Bounds Testing Approach” for “Co-integration and ECM Technique” were applied to study the long and short run relationship among the above mentioned variables. “Granger Causality Test” was applied to find out the direction of causality. The results find a long run association between Economic Growth, Government Expenditure, and Inflation. The results of “ECM” show the short run relationship among the above mentioned variables; however, the speed of adjustment is slow which slightly less than 20% is. “Granger Causality” test reveals that “causality runs from Inflation to Economic Growth” while causality between Inflation and Government Expenditure. Inflation and Money Supply is bidirectional. It is concluded that both monetary and fiscal policies have an impact on economic growth

The Impact of Public Expenditure Components on Economic Growth in Pakistan.

This study examines the relationship between health expenditure, expenditure on education, Gross Fixed Capital Formation, Military Expenditure, Fiscal Balance (Deficit) and economic growth in Pakistan. The period of study is from 1972 to 2015. ARDL Bounds Testing approach for co-integration and ECM Technique were applied to study the long run and short run relationship among the above mentioned variables. “Granger Causality Test” was applied to find out the direction of causality. The results reveal a long run relationship between Military Expenditure, Gross Fixed Capital Formation, Fiscal Balance and Economic Growth. The results of “ECM” show the short run relationship among these variables. However, there is no long run relationship between Health Expenditure, Expenditure on Education and Economic Growth. The speed of adjustment is high which 62.28% is. “Granger Causality” test reveals that “causality runs from Military Expenditure to Economic Growth”. It further reveals causality from health expenditure to fiscal balance and from fiscal balance to Military Expenditure. It is concluded that fiscal policy has an important role in boosting economic growth