Items in this collection are the scholarly output of the Department of Economics faculty, staff, and students, either alone or as co-authors, and which may or may not have been published in an alternate format. Items may contain more than one file type.

Recent Submissions

  • Strategic Choice of Channel Structure in an Oligopoly 

    Liu, Lin, 1977; Wang, X. H. (X. Henry), 1962-; Yang, Bill Z. (Department of Economics, 2011-03)
    The traditional wisdom holds that the benefits of a decentralized channel structure arise from downstream competitive relationships. In contrast, Arya and Mittendorf (2007) showed that the value of decentralization can ...
  • Estimating Estate-Specific Price-to-Rent Ratios in Shanghai and Shenzhen: A Bayesian Approach 

    Chen, Jie, 1980-; Ni, Shawn, 1962- (Department of Economics, 2010)
    The price-to-rent ratio, a common yardstick for the value of housing, is difficult to estimate when rental properties are poor substitutes of owner-occupied homes. In this study we estimate price-to-rent ratios of residential ...
  • Labor-Market Returns to the GED Using Regression Discontinuity Analysis 

    Jepsen, Christopher; Mueser, Peter R., 1952-; Troske, Kenneth R. (Department of Economics, 2010-11)
    In this paper, we evaluate the labor-market returns to General Educational Development (GED) certification using Missouri administrative data. We develop a fuzzy regression discontinuity (FRD) method to account for the ...
  • Long-Term Oil Price Forecasts: A New Perspective on Oil and the Macroeconomy 

    Miller, J. Isaac; Ni, Shawn, 1962- (Department of Economics, 2010-10)
    We examine how future real GDP growth relates to changes in the forecasted longterm average of discounted real oil prices and to changes in unanticipated fluctuations of real oil prices around the forecasts. Forecasts are ...
  • Endogenous Credit Cycles 

    Gu, Chao; Wright, Randall, 1956- (Department of Economics, 2010-10)
    We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display ...
  • The Role of Industry and Occupation in U.S. Unemployment Differentials by Gender, Race and Ethnicity: Recent Trends 

    Michaēlidēs, Marios; Mueser, Peter R., 1952- (Department of Economics, 2010-09)
    We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
  • A Nonlinear IV Likelihood-Based Rank Test for Multivariate Time Series and Long Panels 

    Miller, J. Isaac (Berkeley Electronic Press, 2010-12)
    A test for the rank of a vector error correction model (VECM) or panel VECM based on the well-known trace test is proposed. The proposed test employs instrumental variables (IV's)generated by a class of nonlinear functions ...
  • Recent Changes In The Characteristics Of Unemployed Workers 

    Michaēlidēs, Marios; Mueser, Peter R., 1952- (Department of Economics, 2009-10)
    We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
  • Selection of Multivariate Stochastic Volatility Models via Bayesian Stochastic Search 

    Loddo, Antonello, 1976-; Ni, Shawn, 1962-; Sun, Dongchu (Department of Economics, 2009)
    We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte ...
  • Teacher Compensation and Collective Bargaining 

    Podgursky, Michael John (Elsevier, 2010-04)
    While compensation accounts for roughly 90 percent of K-12 instructional costs, there is little evidence of rational design in these systems. This chapter reviews the nature of teacher compensation systems in developed ...
  • Flunking ETS 

    Podgursky, Michael John (Education Next, 2001)
    Many education scholars would be surprised to learn that Harold Wenglinsky of the Educational Testing Service (ETS) had discovered, in his own words, “not only that teachers matter most” for student achievement, “but how ...
  • Fringe Benefits: There is More to Compensation than a Teacher's Salary 

    Podgursky, Michael John (Education Next, 2003)
    Each year, the two national teacher unions, the American Federation of Teachers (AFT) and the National Education Association (NEA), release their surveys of public school teacher salaries across the nation, and each year ...
  • Teacher Retirement Benefits 

    Costrell, Robert M.; Podgursky, Michael John (Education Next, 2009)
    The ongoing global financial crisis is forcing many employers, from General Motors to local general stores, to take a hard look at the costs of the compensation packages they offer employees. For public school systems, ...
  • Golden Handcuffs 

    Costrell, Robert M.; Podgursky, Michael John (Education Next, 2010)
    Teacher pensions consume a substantial portion of school budgets. If relatively generous pensions help attract effective teachers, the expense might be justified. But new evidence suggests that current pension systems, by ...
  • Reforming Teacher Training and Recruitment: A Critical Appraisal of the Recommendations of the National Commission on Teaching and America's Future 

    Ballou, Dale; Podgursky, Michael John (Government Union Review, 1999)
    The author discusses the prolonged debate about education quality in the United States. Too many teachers had poor academic records and received low scores on tests of cognitive ability. Teacher education programs were ...
  • Personnel Policy in Traditional Public, Private, and Charter Schools 

    Podgursky, Michael John (NCSC Review, 2003)
    A major policy discussion in K-12 education today concerns the issue of teacher quality. Research suggests that one of the most important contributions of schools to student achievement gains is the quality of classroom ...
  • (Mis-) Measuring the Relative Pay of Public School Teachers 

    Podgursky, Michael John; Tongrut, Ruttaya (Education Finance and Policy, 2006)
    Statistics on the relative pay of public school teachers are routinely cited by plaintiffs in school finance (“adequacy”) lawsuits. However, comparisons of pay and benefits for public school teachers to those of professional ...
  • K-12 Public School Finance in Missouri: An Overview 

    Podgursky, Michael John; Springer, Matthew G. (Federal Reserve Bank of St. Louis, 2006)
    The level and distribution of spending for public K-12 education remains a contentious matter of policy in many states because of increasing expectations for school performance and widespread school finance litigation. In ...
  • Peaks, Cliffs, and Valleys: The Peculiar Incentives in Teacher Retirement Systems and Their Consequences for School Staffing 

    Costrell, Robert M.; Podgursky, Michael John (American Education Finance Association, 2009)
    This article examines the pattern of incentives for work versus retirement in six state teacher pension systems. We do this by examining the annual accrual of pension wealth from an additional year of work over a teacher's ...
  • Defrocking the National Board 

    Podgursky, Michael John (Education Matters, 2001)
    The National Board for Professional Teaching Standards, through its series of comprehensive performance assessments of teaching proficiency, is identifying and certifying teachers who are producing students who differ in ...

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