Introduction

Black Market ◽  
2020 ◽  
pp. 1-16
Author(s):  
Aaron Carico
Keyword(s):  
Cultural Materialism ◽  
Racial Capitalism ◽  
A Value ◽  
The U.S

The introduction distinguishes between emancipation and abolition to mount a critique of liberalism. It argues that the slave as a value-form survives within racial capitalism after 1865. Critically examining the usual periodization of U.S. slavery and slavery’s supposed containment within the U.S. South, the introduction posits cultural materialism as the methodology necessary to grasp the enduring vestiges of slavery as a national institution.

scholarly journals Bimodal Characteristic Returns and Predictability Enhancement via Machine Learning

2021 ◽  
Author(s):  
Chulwoo Han
Keyword(s):  
Machine Learning ◽  
Return Predictability ◽  
Short Term ◽  
Momentum Strategy ◽  
Cross Sectional ◽  
Large Loss ◽  
A Value ◽  
Five Factors ◽  
The U.S ◽  
Machine Learning Models

This paper documents the bimodality of momentum stocks: both high- and low-momentum stocks have nontrivial probabilities for both high and low returns. The bimodality makes the momentum strategy fundamentally risky and can cause a large loss. To alleviate the bimodality and improve return predictability, this paper develops a novel cross-sectional prediction model via machine learning. By reclassifying stocks based on their predicted financial performance, the model significantly outperforms off-the-shelf machine learning models. Tested on the U.S. market, a value-weighted long-short portfolio earns a monthly alpha of 2.4% (t-statistic = 6.63) when regressed against the Fama–French five factors plus the momentum and short-term reversal factors. This paper was accepted by Kay Giesecke, finance.

A value-added tax in the U.S.: An argument in favor

1997 ◽  
Vol 40 (3) ◽  
pp. 78-83 ◽  
Author(s):  
Paul Hooper ◽  
Karen A. Smith
Keyword(s):  
Value Added ◽  
Value Added Tax ◽  
A Value ◽  
The U.S

scholarly journals Modèle d’estimation de l’élasticité de substitution et du progrès technologique

2009 ◽  
Vol 57 (2) ◽  
pp. 148-159
Author(s):  
Richard G. Zind
Keyword(s):  
Regression Analysis ◽  
Technical Change ◽  
Elasticity Of Substitution ◽  
A Value ◽  
The U.S

ABSTRACT We derive in the present study a set of equations that yield, through regression analysis, estimates of the elasticity of substitution and of the indexes of technical change attributed to Hicks, Harrod and Solow. On the basis of data drawn from the U.S. non-farm economy, we obtain estimates that are consistent with other findings namely a value for the elasticity of substitution (between labour and capital) that is less than unity and indexes which imply that technology has tended to be Hicks labour-saving, Harrod capital-saving and Solow labour-saving.

Potentials and Perils of E-Business in China

2014 ◽  
Vol 10 (4) ◽  
pp. 39-51
Author(s):  
James G.S. Yang
Keyword(s):  
Value Added ◽  
Gold Rush ◽  
Chinese Government ◽  
Internet Commerce ◽  
Tax Rate ◽  
A Value ◽  
Business Market ◽  
Online Business ◽  
Business In China ◽  
The U.S

The E-business market in China is growing at an exponential rate. In 2013, the business volume is expected to reach $285 billion which surpasses the level in the U.S. As a result, there is a gold rush to China to participate in the market. This article discusses the potential but also points out the perils. This paper also focuses on the competition in the Chinese E-business market, and reveals that the Chinese online business is almost completely monopolized by only one seller, Taobao, which accounts for 81.2% of the whole E-business market. This article further considers the tax burden of the Internet commerce transaction which found that the Chinese government imposes a value-added tax at a rate of 17%. This rate is much higher than the sales tax rate at 7% in the U.S. Additionally, this article investigates the problem of counterfeited products and infringement of intellectual property rights. It discovered that this problem is rampant in China. The losses in international trade amount to $360 billion a year. Eighty percent of the counterfeited products were originated in China. The problem is extremely serious. Moreover, this article offers many planning strategies for operating an E-business in China. Despite the perils, this article concludes that the benefits of running an E-business in China outweigh the risks.

Racial capitalism and student debt in the U.S.

Organization ◽  
2021 ◽  
pp. 135050842199576
Author(s):  
Ali Mir ◽  
Saadia Toor
Keyword(s):  
Black Students ◽  
Current Phase ◽  
Student Debt ◽  
Racial Capitalism ◽  
Debt Burden ◽  
Black Lives Matter ◽  
Black Resistance ◽  
The U.S

This paper focuses on the current phase of Black resistance exemplified by the Black Lives Matter (BLM) movement, which urges us to recognize and reckon with the differential racial impact of student debt in the U.S. and calls for the cancelation of student debt as an explicit part of its demand for reparations. Using the concept of racial capitalism, the paper examines the structure of student debt and its consequences for Black borrowers, analyzes the structural reasons behind the disproportionate debt burden borne by Black students, and highlights movements such as the Debt Collective and BLM, which not only offer a critique of the debt regime but also suggest ways of organizing against it.

scholarly journals Maximum Economic Yield and Resource Allocation in the Spiny Lobster Industry

1977 ◽  
Vol 9 (1) ◽  
pp. 145-149 ◽  
Author(s):  
Joel S. Williams ◽  
Fred J. Prochaska
Keyword(s):  
Resource Allocation ◽  
Spiny Lobster ◽  
Homarus Americanus ◽  
Demand Analysis ◽  
Panulirus Argus ◽  
American Lobster ◽  
World Production ◽  
Maximum Economic Yield ◽  
A Value ◽  
The U.S

Spiny lobster (Panulirus argus) is produced in the warmer ocean waters and is distinguished from the northern American lobster (Homarus americanus) by its lack of claws and relatively smaller size. Florida lobstermen currently account for 98 percent of the U.S. spiny lobster landings. This industry has grown from annual landings of less than a million pounds prior to the 1950s to 11 million pounds in 1974, with a value of over $13 million [5, 6]. Although no formal demand analysis has been completed, it appears that U.S. demand for this luxury seafood has increased considerably faster than domestic production. In current dollars, prices at dockside increased 251 percent from 39 cents per pound in 1960 to over $1.36 per pound at dockside in 1975 (an increase of 73 percent in constant dollars). Increased demand in the U.S. is further suggested by the fact that U.S. consumption of total world production increased from 53 to slightly over 80 percent in this same period.

The Stock Market as a Value-Extracting Institution

2019 ◽  
pp. 41-68
Author(s):  
William Lazonick ◽  
Jang-Sup Shin
Keyword(s):  
Twentieth Century ◽  
Stock Market ◽  
Conventional Wisdom ◽  
First Century ◽  
Relative Importance ◽  
Corporate Sector ◽  
Market Control ◽  
A Value ◽  
And Control ◽  
The U.S

This chapter debunks the conventional wisdom that the primary function of the stock market is to be a value-creating institution, raising cash for corporations by pointing to the fact that the separation of ownership and control in the past occurred because of a managerial constraint, not a capital constraint, as well as the fact that, throughout the twentieth century and continuing in the twenty-first century, the U.S. stock markets have been net extractors of money from the corporate sector. The chapter explains the five general functions of the stock market: Control; Cash; Creation; Combination; and Compensation. It then analyzes how a broad adoption of the MSV view changed the relative importance of those functions and eventually brought about the imbalance between value creation and value extraction.

Property Rights, Innovation, and Constitutional Structure

1994 ◽  
Vol 11 (2) ◽  
pp. 181-208 ◽  
Author(s):  
Jonathan R. Macey
Keyword(s):  
Property Rights ◽  
Industrial Revolution ◽  
The Other ◽  
James Madison ◽  
A Value ◽  
Modern Age ◽  
The U.S

The Industrial Revolution caused an expansion of our ideas of property to include other forms of wealth, such as innovations and productive techniques. And the modern age has caused a further expansion of our ideas of property to include inchoate items, particularly information. The Framers of the U.S. Constitution presumed that government not only took an expansive view of the nature of property rights, they also believed that such rights should be protected. To James Madison and the other Framers, property was a “broad and majestic term” that “embraces everything which may have a value to which man may attach a right.”

AN EMPIRICAL INVESTIGATION OF THE FORWARD INTEREST RATE TERM STRUCTURE

2000 ◽  
Vol 03 (04) ◽  
pp. 703-729 ◽  
Author(s):  
ANDREW MATACZ ◽  
JEAN-PHILIPPE BOUCHAUD
Keyword(s):  
Term Structure ◽  
Value At Risk ◽  
Previous Investigation ◽  
Empirical Investigation ◽  
Forward Rate ◽  
The Past ◽  
A Value ◽  
Interest Rate Term Structure ◽  
Spot Volatility ◽  
The U.S

In this paper we study empirically the Forward Rate Curve (FRC) of 5 different currencies. We confirm and extend the findings of a previous investigation of the U.S. FRC. In particular, the average FRC follows a square-root law, with a prefactor related to the spot volatility, suggesting a Value-at-Risk-like pricing. We find a striking correlation between the instantaneous FRC and the past spot trend over a certain time horizon, in agreement with the idea of an extrapolated trend effect. We present a model which can be adequately calibrated to account for these effects.

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