Analysis of Crude Oil Price and Household Income in the State of Louisiana

A large part of determining gas price rests on the price paid for crude oil. There are several variables that can affect gas prices such as global and domestic demand and production supply, unpredictability in the Middle East, fluctuating weak United States dollar value, natural disasters, and household income. Some explanations are provided about some of the previously mentioned variables, but the focus of analysis is Louisiana crude oil price as it relates to household income. The method that was used in this current research is the regression model and the estimated linear regression equation least square method. A scatter plot is provided to display the relationship between variables. A chart that shows historical data of crude oil prices and a correlation of events as they relate to the rise or fall of oil price level is also provided. The multivariate correlation matrix shows that some variables are significant at p- value of 0.05. The largest values indicated that the crude oil price per barrel was strongly positive (r = 0.9530) linked with Louisiana gas price while Louisiana median household income (r = 0.0898), unemployment rate in Louisiana (r = 0.3398). This paper evaluates crude oil price as a dependent variable and how it relates to major independent variables using a general linear regression. The result shows that a high unemployment rate in Louisiana lowers the Louisiana gas price and therefore inhibits oil and gas market. it is highly recommended that the U.S. could continue to increase drilling activities in the state of Louisiana all it wants but it is hard to expect greater domestic production to move gas prices by more than two percentage points in the next few years.

To What Extent did Monetary Policy Contribute Towards the Recent Financial Crisis and Subsequent Recession in the US and UK?

This essay researches the question, “To what extent did monetary policy contribute towards the recent financial crisis and subsequent recession in the US and UK?” This article begins by demonstrating monetary policy’s role in guiding the economy’s development under different economic fundamentals. Then the essay puts forward the existence of possibility that monetary policy may cause potential dangers for the economy. In the next chapter, the essay illustrates the guideline for monetary policy namely Taylor rule and economists’ arguments and explanations for the US monetary policy in the past decade. In chapter 3, this article estimates the nominal interest rates for both the US and the UK based on Taylor rule for different periods and illustrates influences of monetary policy actually taken for each country in different periods. In chapter 4, the article tests the relationship between monetary policy’s deviations from Taylor rule and financial imbalances by using the OLS method and explains results. Finally, in chapter 5, the article concludes that in some degree monetary policy’s deviations from Taylor rule prescriptions contribute to a build-up of financial imbalances.

FDI and Global Economic Integration: A Welfare Analysis

This paper investigates the welfare impact on all member countries when nonmember countries invest in a member of an economic region, in which capital is allowed to move freely. It is shown that the nonmember investment will affects the welfare of all members despite that some members do not receive such investment directly. In general, the results depend on the relative magnitude of the tariff revenue effect, the tax revenue effect and the capital returns effect. Specific conditions for welfare change in each member country as well as the criterion for a common external tariff which ensures welfare improvement in all the member countries are derived.

Effect of Regional Government Characteristics of Financial Performance

This study aims to determine the effect of regional government characteristics on the financial performance of district / city regional governments in West Kalimantan. This research uses multiple regression. The dependent variable used is the regional financial performance which is proxied from the level of efficiency while the independent variables used are total assets, regional expenditure, DAU, PAD, and leverage as indicators of local government characteristics. The findings of this study indicate that regional spending and dependency of district / city regional governments in West Kalimantan on central government have an influence on the financial performance of district / city governments in West Kalimantan, while government size, prosperity and leverage have no influence on the financial performance of district governments / city in West Kalimantan.

Research on China's Rural Development Strategy Based on SWOT-AHP Analysis

The rapid urbanization development has helped China's economy to rise sharply, and it has also plunged the countryside into a development dilemma. Based on a questionnaire survey of 25 industry experts, this paper uses SWOT-AHP analysis to study the advantages, disadvantages, opportunities and threats of rural development, and finally determines the development strategy of rural China. Put forward three suggestions on rural development in China, that is, grasp the national strategic opportunity to develop modern agriculture, upgrade the level of rural human capital and cultivate the concept of ecological civilization.

Elimination of Excess Capacity in Monopolistic Competition: An Alternative Approach

Monopolistic competition is a real life market structure in which the elements of both perfect competition and monopoly exist. The paper examines the properties of perfect competition and monopoly under the purview of both conventional and Islamic economics. It finds that perfect competition is permissible in Islamic economic framework but monopoly is not. Monopolistic competition, however, cannot be fully abolished because of its real life relevance. The main problem lying with the monopolistic competition is that each firm preserves the capacity of producing more than what they produce in equilibrium- this is generally known as excess capacity. The current paper proposes a model that eliminates excess capacity and shows how the monopolistically competitive firms may remain at an output level that is socially optimum. The proposed model is a modification of Chamberlin (1933) model. According to the proposed model, the firms will produce socially desirable output if they are given some incentives. Amount of required incentive is the difference between the cost of producing additional units of output and the profit foregone due to the deviation from profit maximizing output level.

Essays in Applied Labor Economics, Including Analysis of Economic History and Laws & Economics

In this paper, James Edward Curtis, Jr. (2018) compiles essays on applied labor economics, economic history,and laws & economics to address economic issues. James Edward Curtis, Jr. (2018) considers economic theory,summary empirical analyses, and government & social constru

Economics Education and Teaching the Theory of the Firm Excerpts from Economics Textbook Materials

Curtis Jr (2018) describes the objective of the university course, to convey intermediate and advanced concepts of theory of the firm to students using explanatory, graphical and mathematical methods of analysis. The only prerequisite for this course is successful completion of Calculus, Principles of Microeconomics, or equivalent. After completing the requirements in this course, students should have a sufficient set of skills to thoroughly analyze interesting economic questions and to effectively participate in (i) advanced undergraduate economics courses, (ii) core graduate economic theory courses, and (iii) graduate courses in the school of business, including MBA programs. The emphasis of this paper is that economics is the study of the efficient choices made by individuals, including consumers, workers, owners of firms and social planners Policy writers. Students and wealthy philanthropists reading this paper might conclude that corporate board members, and higher education endowment strategists and budget executives, should focus on and enhance the effectiveness of the individual, conditional on the capacity and constraints, whether they are innate, financial or political.Curtis Jr (2018) presents the teaching materials separately, attached to this document, presented in Microsoft Powerpoint slides, created by James Edward Curtis Jr (2001) and Microsoft Publisher slides, created by James Edward Curtis Jr (2014), for projector transparency presentation by university instructors, and created by James Edward Curtis Jr, for higher education student studies.Reviewers include Dr. John C Ham, Ph.D. from Princeton University, Tenured Professor and Provost, and Former Advisor.

Marketing Challenges and Strategies for Internationalization of Service Firms

This study aims to look back on literature related to internationalization process of service firms. In this regards, the emphasis is on marketing challenges and the target (and motivator of this study) is identification of the suitable strategy to succeed in facing these challenges. In the other word challenges in the path of internationalization of the service firms are identified and relevant entry mode and strategies to cope with those challenges are presented.

Wealth Discrimination Theory

One approach to analyzing inequality is to compare average economic choices from a classical theoretical framework. Another approach considers the impact of the formation of society, through statutes and institutions, on average economic outcomes. This paper studies the effects of slavery on black-white wealth inequality upon the emancipation of slaves in the US using historical data. The purpose of wealth has varied from over time. From an economics perspective, wealth is the accumulation of resources that have market value and can be liquidated for present and future consumption. This study proceeds based on the most measurable assumption: households reside in a country with a mixed economy of markets and social planning, such that they have an incentive to accumulate material wealth for intertemporal household consumption and social influence. Becker (1957) and Arrow (1972) developed the most general theories of wage discrimination and favoritism. Oaxaca (1973) and Blinder (1973) have mechanized their theories for empirical analysis. While their findings are insightful, they cannot be directly applied to studying wealth differences since wealth is a complex combination of wages and other variables. Finally, since unexplained differences in states that abolished slavery after the Civil War were 10 percent higher than unexplained effects in states that abolished slavery well before the Civil War and the magnitudes of the unexplained effects were similar over the long-run, we cannot reject the existence of a negatively bounded correlation between the duration of time from enslavement and the magnitude of unexplained differences in wealth. This research was funded in part by the National Science Foundation under Grant SES 0096414. I would like to thank John Ham, Richard Steckel, Randall Olsen, Bruce Weinberg, Audrey Light, Nori Hashimoto, James Peck, Patricia Reagan, Charles Kirwin, Rebecca Blank, Charles Betsey, Alvin Thornton, Leibert Morris, Maude Toussaint-Comeau, Simone Wegge, James Wilbanks, Thomas Maloney, and William Collins for their insightful comments. I would also like to thank participants in workshops and seminars at the Ohio State University, Howard University, University of Michigan, American Economic Association Summer Program and Pipeline Conferences, Western Economics Association International meetings, and Social Science History Association meetings. I would also like to thank James Curtis Sr, K D Curtis, Karen Curtis (deceased), Lariece Grant-Brown, Barbara Broadnax, Dwayne Broadnax, Rudy Broadnax, Zee Curtis-Grant, Raymond Tillery, Chris Cooper, Dr. K A Troy, Dr. H. Beecher Hicks, Reverend Charles Lewis, Reverend Cornelius Wheeler, Reverend James Lewis, Elder David Treadwell, Dr. Stephen Tucker and Roberta Tucker, Minister Charles Webb, Minister David Surles, and Elder Gregory Strong for their support. This draft is a revision of a November 2010 paper and August 2001 paper.