Suchergebnisse

Here, revealed trade‐offs between monetary rewards and safety risk for shrimp fishermen in the Gulf of Mexico are investigated. Shrimp harvesting is one of the most dangerous occupations in the United States with an occupational fatality rate significantly above the average. The instrumental variables method is employed for estimation of the injuries and fatalities. My estimates of the value of a statistical life and the value of statistical injury, using the sample selection model, are in line with the estimates from other industries and provide useful information for public policy. (JEL J17, Q2, K2, D2)

PurposeThe purpose of this paper is to address differences in bartering between markets and firms, as this mode of transaction has become a norm in the broadcasting industry in the sale of advertising air time and the purchase of programs.Design/methodology/approachPanel data from television stations in the USA is used to investigate the impact of a group of market‐specific and firm‐specific factors on the level of barter advertisement.FindingsThe results from the random effects regressions show that general economic conditions in the national market, such as unemployment and inflation, profitability of the station, and events such as the Olympics and election cycles affect the level of barter among television stations.Originality/valueThis paper contributes to filling a significant void in the empirical microeconomic analysis of barter transaction by providing an example from the broadcasting industry.

This paper deals with a wide spread perception that foreign-born teaching assistants (FBTA) have an adverse effect on American undergraduate students. The maximum likelihood technique is used to arrive at an unbiased and efficient estimate of the grade function. It is demonstrated that while the FBTA appears to have an adverse effect on the academic performance of American students, the effect does not seem to be due to the lack of language proficiency of the FBTA. Furthermore, the adverse effect is not uniform among students with different performance levels in the course and is absent in more rigorous classes. (JEL A22, J00)

Purpose
The purpose of this paper is to provide an economic analysis of the sources of supply to the US shrimp market.


Design/methodology/approach
The paper uses monthly time series data to estimate a simultaneous equations model with equations for domestic supplies from the Gulf of Mexico, imports, and prices.


Findings
Estimated long-run elasticities suggest that the domestic shrimp supply appears to be explained by seasons, diesel fuel price, hurricane activity, and shrimp price. The authors find evidence of a downward-slopping supply curve for the domestic harvesters that is likely to be temporary. Furthermore, anti-dumping duties have been ineffectual in curtailing imports produced by exploitation of natural shrimp biomass in developing countries and by technological advancements in aquaculture production. The authors also find evidence of a low exchange rate pass through. Finally, while domestic and import prices are not cointegrated, there is a two-way causality between them.


Practical implications
The authors found evidence that shrimp prices have fallen as import supply, due to technological advances in aquaculture, has risen faster than the US domestic demand over time suggesting a downward sloping supply curve. Also, the falling value of the US dollar has discouraged the imports, while the anti-dumping duties appear to have had little influence on the aggregate level of imports.


Originality/value
It provides a thorough investigation of the supply side of an important component of the US seafood market displaying the complexity of domestic producers' reaction to falling prices, and ineffectual protectionism.

Rising interest in barter due to the current world-wide recession has motivated a re-examination of macroeconomic determinants of barter in the U.S. economy, particularly its correlation with the business cycle. This critical evaluation, using the International Reciprocal Trade Association data, addresses, among other issues, whether firm size affect the behavior of firms during business cycles. Here, we deal with replacement of the missing observations by filling them with forecasts using the Box-Jenkins ARMA and Kalman filter methods before performing the unit root and cointegration tests. Although the ECM estimates for various measures of business cycles are occasionally inconsistent, overall the inventory measures and capacity utilization results suggest that barter transactions are counter-cyclical regardless of the firm size. Additionally, we find that barter rises with inflationary trend, dissemination of access to computer technology, tax rates and tax laws requiring disclosure of barter transactions.

Abstract.  This paper deals with a reassessment of the money–income relation and predictability of changes in GDP with innovations in money in the presence of barter. Organized barter as a method of transaction, through barter exchanges, has been growing rapidly in the US economy. With the introduction of computers and the use of a credit system which allows non‐simultaneous transactions, barter exchanges have found new opportunities to offer an alternative to monetary transactions. Analysis of data from the 1974–96 period provides some evidence suggesting that inclusion of barter in the output function improves the marginal predictability of money.