ECONOMICS AND LEGAL STUDIES

On the Determinants of Technical Efficiency in Oklahoma Schools: A Stochastic Frontier Approach

A stochastic production frontier for school districts in the state of Oklahoma is estimated using panel data, and several determinants of district efficiency are identified.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Ronald L. Moomaw

Freedom and Efficiency

Panel data are used to estimate stochastic production frontiers across 77 countries. In the model, economic efficiency is modeled as a function of political and economic variables.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Ronald L. Moomaw, Andreas Savvides

The Dynamic Properties of the Instantaneous Risk Free Interest Rate

The dynamic properties of the instantaneous risk free interest rate are studied using discrete time series data of differing frequencies.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Tim L. Krehbiel

Using White's Consistent Covariance Estimator in Sample Selectivity Models

Using Monte Carlo simulations, various methods of estimating the covariance matrix of 2-step Heckit model are compared.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins

Louisiana State University: R. Carter Hill

Tests of the Inflation-Stock Return Relation

A vector autoregressive model is used to explore the relationships between inflation, interest rates, stock prices, and money in the U.S.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Mark Snead

Bayesian Model Selection: An Application to Regional Analysis

Geweke's Bayesian model selection procedure is applied problems in regional economics.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Ronald L. Moomaw

Inequality Restricted Bayesian Estimation of Production Functions for Regional Computable General Equilibrium Modeling

Bayesian estimates of Oklahoma production are obtained using prior information from the U.S.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Dan S. Rickman

Purchasing Power Parity and the Transmission of Foreign Price Shocks in a Currency Union

Transmission of foreign price shocks is studied for the CFA.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Andreas Savvides

A Heteroscedastic Production Frontier for Panel Data

Battese and Coelli's maximum likelihood estimator for a stochastic frontier panel model is modified for use with heteroscedastic data.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Susanne Atkinson

Regional Technical Efficiency in Europe

Regional production functions are estimated and country-level productivity differences are detected using panel data.

Sponsor: State of Oklahoma

PIs: Lee C. Adkins, Ronald L. Moomaw

Long-Run Equilibrium in a Monopolistically Competitive Industry

This paper uses Silberberg's Primal-Dual Analysis to study the equilibrium number of firms in a monopolistically competitive industry.

Sponsor: State of Oklahoma

PI: Kevin M. Currier

A Lecture on the Theory of Optimal Taxation

This paper presents a simple yet comprehensive analysis of a single taxation issue. As such, it forms the basis for both a graduate and undergraduate lecture on optimal taxation.

Sponsor: State of Oklahoma

PIs: Kevin M. Currier, Mary Gade

The Open Economy and Macroeconomic Models

International trade and capital flows are often incorporated into macroeconomic models in a simplistic and misleading manner. This study examines alternative approaches with a view to determining those that: 1) are theoretically sound; and 2) provide a firm basis for policymaking.

Sponsor: State of Oklahoma

PI: Michael R. Edgmand

Exploring the Extent of the Glass Ceiling

One may use Markov chains to model the movement of a group of people through the management structure of a company. Simulations with a large number of parameter values provide an estimate of how many women would occupy top management positions in the absence of promotion discrimination. This provides a context for evaluating and understanding the current low numbers of women in such positions.

Sponsor: State of Oklahoma

PI: James R. Fain

Time of Adjustment in the National Labor Market

The movement of individuals between employed, unemployed, and not-in-the-labor force states is frequently modeled using a Markov chain. In this project, I use this type of model to examine how long it takes labor markets to adjust to a shock. I find that it can take up to three years to fully adjust to a relatively minor shock.

Sponsor: State of Oklahoma

PIs: James R. Fain

College of Arts & Sciences: Jeanne Hill

The Effects of an Aging Population on Income Inequality

It is well known that for any cohort, the dispersion of income increases as they age. I use simulations to gauge the effect of an aging population on income inequality.

Sponsor: State of Oklahoma

PI: James R. Fain

When Should an "Aftermarket" be Considered a Relevant Economic Market for Antitrust Purposes?

Following the landmark U.S. Supreme Court decision in Kodak (1992), this research critically evaluates research on the conditions necessary for an "aftermarket" (e.g., repair service for a piece of original equipment hardware) to be considered a relevant economic market for antitrust purposes.

Sponsor: State of Oklahoma

PI: Joseph M. Jadlow

State Export Promotion Responses to Free Trade Agreements

Since the signing of the free trade agreements with Canada and Mexico, many states have taken new initiatives to encourage export sales by their most competitive firms. This report seeks to benchmark actions in states in the Midwest and evaluate the relative effectiveness of the actions with respect to the goal of increasing economic activity.

Sponsor: State of Oklahoma

PI: Gerald M. Lage

Renewed Emphasis in the Foreign Corrupt Practices Act

The article deals with the recent changes in the FCPA and the recent increase in enforcement activities by both the Department of Justice and the Securities and Exchange Commission. Accepted for publication by Business Horizons.

Sponsor: State of Oklahoma

PI: Tipton F. McCubbins

Investigation of Recent Judicial Interpretation of the Rules Regarding the Protection of Trade Dress

There have been a number of recent high-profile cases regarding Trade Dress and Trade Mark protection issues. This is an attempt to determine what impact on the relevant law of the area these cases have made.

Sponsor: State of Oklahoma

PI: Tipton F. McCubbins

Technical Efficiency and Political Institutions: A Cross-Country Approach

This project uses Data Envelopment Analysis to measure technical efficiency. The efficiency measures will then be regressed on institutional variables to determine the effects of economic and political institutions on efficiency.

Sponsor: State of Oklahoma

PIs: Ronald L. Moomaw, Lee C. Adkins, Andreas Savvides

Stochastic Frontier Estimates of Regional Production Functions: Efficiency Variations in the European Union

European regional data are used to estimate regional production functions. Production efficiency is found to vary across the European regions. The next step in the project is to estimate the determinants of the variation.

Sponsor: State of Oklahoma

PIs: Ronald L. Moomaw, Lee C. Adkins

Why Is Poverty More Concentrated in U.S. Cities than in Other Cities Around the World?

Urban economic theory is used to show that in countries with abundant land poverty will be concentrated in the inner cities. Because land is so cheap, the housing patterns that result make mass transit relatively inefficient. In the absence of a well-developed mass transit system, the poor have incentives to live in the inner city.

Sponsor: State of Oklahoma

PIs: Ronald L. Moomaw

Government of Korea: Donghoon Hur

Economic Development and Primate Cities

This study shows that as economies develop, economic forces tend to concentrate the population in large cities. The study argues that attempts to control the population of the largest cities may adversely affect economic development.

Sponsor: State of Oklahoma

PI: Ronald L. Moomaw

Social Returns from Privatizing Social Security

Provides estimates of the present values of costs and benefits from privatizing Social Security, including their incidence by generation. Results indicate that privatization will produce a positive present value of net benefits for all generations combined, but that workers in the labor force for the next 25 years will suffer net losses.

Sponsor: State of Oklahoma

PI: Kent W. Olson

State Tax Limits and State Economic Growth

The purpose of this study is to examine how state tax limits change the sources and uses of state government revenues with a focus on lessons learned from Oklahoma's experience.

Sponsor: State of Oklahoma

PI: Kent W. Olson

Computer-Assisted Technology Transfer (CATT) — Academic Research Projects

This project involves coordination of the Academic Research Projects of the CATT program.

Sponsor: U.S. Department of Defense

PI: Kent W. Olson

Effects of Proposed Electricity Deregulation on Local School Districts

An empirical analysis of the impact of proposed electricity deregulation legislation on local school district revenues. The legislation proposes substitution of an energy tax for the current ad valorem and gross receipts taxes levied on electric utilities.

Sponsor: State of Oklahoma

PI: Kent W. Olson

Oklahoma State Economic Outlook

This project involves a computer-based statistically estimated economic model used to forecast the economies of the State of Oklahoma, the Oklahoma City metropolitan area, and the Tulsa metropolitan area. Forecasts are generated for employment, output, income, population, retail sales, and state tax revenues.

Sponsors: State of Oklahoma Tax Commission, Oklahoma City Metropolitan Chamber of Commerce, Tulsa Metropolitan Chamber of Commerce

PIs: Dan S. Rickman, Gerald M. Lage

The Causes of Regional Variation in Poverty: A Cross-County Analysis

Using Census Bureau county-level data for 1990, the study examined the underlying causes of family poverty in the United States. Particular emphasis was given to the relative importance of economic development factors such as employment growth and industry restructuring versus person-specific characteristics such as education and single parent status.

Sponsor: State of Oklahoma

PIs: Dan S. Rickman

St. Cloud State University: Mark Partridge

Georgia Southern University: William Levernier

The Sources of Revenues for Wisconsin Native American Casinos: Implications for Casino Gaming as a Regional Economic Development Tool

Based on surveys of visitors to Wisconsin Native American casinos, the study detailed the demographic characteristics of the visitors and the likely effects on their economic well-being. The impact on other businesses in the casino areas and state was also assessed.

Sponsor: State of Oklahoma

PIs: Dan S. Rickman

Inter-American Development Bank: Ricardo Gazel

University of Nevada-Las Vegas: William Thompson

Social Costs of Gambling: A Comparative Study of Nutmeg and Cheese State Gamblers

The difference in social costs to Wisconsin versus Connecticut of legalized gambling in the states is examined. Particular attention is given to how the differences relate to distance factors, types of casinos, and demographic characteristics of the population.

Sponsor: State of Oklahoma

PIs: Dan S. Rickman

Inter-American Development Bank: Ricardo Gazel

University of Nevada-Las Vegas: William Thompson

Economic Development and the Return to Human Capital

This study involves estimates of the return to human capital for 50 countries using macroeconomic data and semiparametric estimation techniques.

Sponsor: State of Oklahoma

PIs: Andreas Savvides

University of Cyprus: Theofanis Mamuneas

University of Guelph: Thanasis Stengos

Institutions, Freedom, and Technical Efficiency

This project studies freedom and human capital as they increase technical efficiency across a sample of 70 countries.

Sponsor: State of Oklahoma

PIs: Andreas Savvides, Lee C. Adkins, Ronald L. Moomaw

Gross County Product Estimates for Oklahoma

This study uses the Kendrick-Jaycox procedure to estimate Gross County Product (GCP) totals for the 77 counties in Oklahoma from 1980-1998. Trends in growth rates are discussed and contrasted with those reported in a previous GCP study for the 1970s.

Sponsor: State of Oklahoma

PIs: Mark Snead

Management: Tim Ireland

The Economics of Recovery

This project studies the principal forces underlying the long, drawn-out economic recovery extending from spring 1933 through mid-1942.

Sponsor: State of Oklahoma

PI: Frank G. Steindl