3-5 Page Business Research Paper

This is a 3-5 page research paper on a article of your choosing. The suggested articles are in the attachment along with the instructions on how the paper should be written. Also an example of what the paper should look like is in the second attachment. Message me if you have any questions. MAKE SURE YOU INDICATE WHICH ARTICLE YOU CHOOSE TO WRITE ON.
econ_321_002_research_project___spring_2018.pdf

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Bowie State University
April 9, 2018
Department of Accounting, Finance, and Economics
ECON 321.002 – MONEY, BANKING, AND THE FINANCIAL SYSTEM – Spring 2018
Instructor: Dr. Thaddee Badibanga
RESEARCH PROJECT – A REVIEW OF A RESEARCH PAPER
This research project is intended to help you to improve your research and writing skills. It
consists of reviewing an already published paper in order to determine whether or not it is a
strong contribution to the economic literature. The list of papers to review is attached. Your
report needs to match the structure of the review described below.
Structure
1. Summary
a. Hypothesis
b. Contribution
c. Theoretical framework (hypotheses need to be described)
d. Model and data
e. Findings (results)
f. Policy relevance
2. Strengths and Weaknesses
a. Strengths
b. Weaknesses
3. Ways to improve the paper
a. Issue 1
b. Issue 2
4. References
Due Date: May 6, 2018
Format
• Length: 3 – 5 pages.
• Font Face: Times New Roman
• Font Size: 12
• Line Spacing: Multiple at 1.15,
• Spacing: 6 Before and 6 After.
Suggested Articles to review
How Do Mortgage Refinances Affect Debt, Default, and Spending? Evidence from
HARP
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr841.pdf
A Model of the Federal Funds Market: Yesterday, Today, and Tomorrow
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr840.pdf
Long-Term Outcomes of FHA First-Time Homebuyers
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr839.pdf
Monitoring Money for Price Stability
https://minneapolisfed.org/research/wp/wp744.pdf
Real Exchange Rates and Primary Commodity Prices
https://minneapolisfed.org/research/wp/wp743.pdf
Exchange Rate Policies at the Zero Lower Bound
https://minneapolisfed.org/research/wp/wp740.pdf
Small and Large Firms over the Business Cycle
https://minneapolisfed.org/research/wp/wp741.pdf
The Global Rise of Corporate Saving
https://minneapolisfed.org/research/wp/wp736.pdf
Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit
Reports
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr795.pdf?la=en
Market Liquidity after the Financial Crisis
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr796.pdf?la=en
Vulnerable Growth
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr794.pdf?la=en
International Banking and Cross-Border Effects of Regulation: Lessons from the United
States
https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr793.pdf?la=en
Does Bank Lending Matter for Large Firms’ Investment?
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2015/q4/pdf/karabarbounis.pd
f
Loan Guarantees for Consumer Credit Markets
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2014/q4/pdf/athreya.pdf
The Financial Crisis, the Collapse of Bank Entry, and Changes in the Size Distribution of
Banks
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2014/q1/pdf/prescott.pdf
Exchange Rate Volatility in a Simple Model of Firm Entry and FDI
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2012/q1/pdf/lubik.pdf
Strategic Behavior in the Tri-Party Repo Market
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2011/q4/pdf/ennis.pdf
Should Bank Supervisors Disclose Information About Their Banks?
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2008/winter/pdf/prescott.pdf
Changes in the Size Distribution of U. S. Banks: 1960 – 2005
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2006/fall/pdf/janicki_prescott.
pdf
Bank Risk of Failure and the Too-Big-to-Fail Policy
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2005/spring/pdf/ennismalek.p
df
Depression-Era Bank Failures: The Great Contagion or the Great Shakeout?
https://www.richmondfed.org//media/richmondfedorg/publications/research/economic_quarterly/2005/winter/pdf/walter.pdf
Negative Equity Does Not Reduce Homeowners’ Mobility
https://www.mpls.frb.org/research/qr/qr3511.pdf
Thaddee M Badibanga
Theory of Multinational
U of Minnesota – ECON Department
How do Foreign Patent Rights Affect U.S. Exports, Affiliate
Sales, and Licenses?
By Pamela J. Smith (2001)
A Report
April 5, 2005
1. Summary
a) Hypothesis
The Hypothesis of this paper is to examine the impact of Foreign Patent Rights (FPRs) on
U.S. firms’ decisions about servicing foreign markets.
b) Contribution
The contribution of this paper is:
– to account for the simultaneous effects of FPRs on exports, affiliate sales, and licenses;
– to provide the first empirical results on the relative effects of FPRs on exports, affiliate
sales, and licenses;
– to empirically link FPRs with bilateral exchange via the ownership, location, and
internalization concepts.
c) Theoretical Framework
The theoretical framework used to generate the econometrical model is based on the trade
and MNE, and the FPR literatures1, and tries to assess the effects of patent rights on ownership,
on location and internalization, and on factor flows to affiliates.
The hypotheses are:
Hypothesis 1: Strong FPRs enhance U.S. firms’ ownership control over their knowledge
assets. This enhanced ownership advantage increases U.S. bilateral exchange across countries
1
See Helpman (1993), Ethier and Markusen (1996), Markusen (1998), Glass (2000), and Glass and Saggi (2001a)
with strong imitative abilities (market expansion) and decreases U.S. bilateral exchange across
countries with weak imitative abilities (market power).
Hypothesis 2: Strong FPRs confer a location advantage which increases U.S. affiliate sales
and licences relative to exports.
Hypothesis 3 : Strong FPRs decrease the need to internalize knowledge assets within the
U.S. firm. Thus, strong FPRs increase U.S. licenses relative to affiliate sales and exports.
Hypothesis 4:
a) The core determinants of flows of good sand services similarly explain factor flows;
b) After controlling for these determinants, strong FPRs increase flows of U.S. knowledge
assets to affiliates relative to other factors (location effect);
c) After controlling for these determinants, weak FPRs increase the employment of U.S.
citizens in affiliates relative to other factors (internalization effect).
d) Econometric model, data, and estimation
The econometric models for the hypotheses 1-3 (gravity equation 1) and for the hypothesis 4
(gravity equation 2) are given by:
ln(Tjk ) ? ?0 ? ?1 ln(CGDPk ) ? ?2 ln( Popk ) ? ?3 ( Dist jk ) ? ?4 (Open jk ) ? ?5 ( Patpro jk ) ? ?6 (Taxnet jk ) ? ? jk
(1)
ln( Fjk ) ? ?0 ? ?1 ln(CGDPk ) ? ?2 ln( Popk ) ? ?3 ( Dist jk ) ? ?4 (Open jk ) ? ?5 ( Patpro jk ) ? ?6 (Taxnet jk ) ? ? jk
(2)
ß1>0 (export, Aff. Sales, Lic), ß2, ß3 <0 (export),ß4 >0 (export), ß5 >0 (expansion in export,
Aff. Sales, Lic), ß5 <0 (market power in export, Aff. Sales, Lic), ß6 <0 (Aff. Sales and Export). where: T jk is the bilateral exchange from source country j (the U.S.) to foreign country k (another country), F jk is the factor flow from country j to country k, CGDPk is the per capita income of country k, Popk is the population of country k, Distjk is the distance between country j and k, Openjk. is the openness to trade, Patprojk is the Patent Rights of country j in country k, and Taxnetjk is the foreign tax rate. The Data used in this study is a cross-section of 50 countries in 1989. For the description and sources of these data, see appendix A in the original paper. The econometric technique used to estimate equations (1) and (2) and their modified versions {where Patpro is interacted with dumwi (dummy =1 for k with weak imitative ability and 0 otherwise) and with dumsi (dummy =1 for k with strong imitative ability and zero otherwise) in (1), and where (2) has additional variables which are dummy interacted with all explanatory variables} is the Seemingly Unrelated Regression (SUR), which take into account the simultaneous character of the three bilateral exchange decisions. d) Results The results of estimation equations (1) and (2) and their modified versions are reported in tables 1-4 in the original paper. Broadly speaking, they can be summarized as follows: - the findings are robust and the parameters estimates on the core variables in all equations are consistent with theoretical prediction; - the enhanced ownership advantage from strong FPRs increases bilateral exchange on overall across all countries. This positive market expansion effect is particularly large across countries with strong imitative ability; - strong FPRs confer a location advantage which increases affiliate sales and licence relative to exports; - strong FPRs confer an internalization effect which increases licenses relative to affiliate sales and exports. So, strong FPRs have a large positive impact on knowledge that leaves the source firm; - the hazard of imitation increases when knowledge is transferred outside the source country and/or outside the source firm, and this hazard is highest when knowledge is transferred to unaffiliated foreign firms in countries with weak Patent Rights; - strong FPRs increase flows of knowledge to affiliates relative to other factor flows (location effect); - weak FPRs increase flows of labor (which embodies knowledge) to be employed in affiliates relative to other factor flows (internalization effect). f) Policy Relevance The Foreign Patent Rights (strong or weak) and the imitative ability (strong or weak) determine the firm decision on the mode of cross-country penetration. 2. Strengths and weaknesses a) Strengths - strong contribution to the literature; - first empirical study linking FPRs with simultaneous servicing decisions via OLI; - writing style making paper easier to read and understand even by non-economist. b) Weaknesses - use of only cross-section data limits the analysis of cross-time effect. 3. Questions 1) What would be the predictions of this model if we include joint-venture as the fourth mode of bilateral exchange? 2) This paper builds upon former studies (cited above) whose some assumptions are conflicting. So, what are the main assumptions of the model on preferences, factor mobility, market structure, and technology? ... Purchase answer to see full attachment

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