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This paper examines the sources of economic nationalism by a closer examination of the theory and policy of international trade, originating in the 19th century. We compare and contrast the views of British classical writers, the main proponents of trade liberalism, with the writings of Friedrich List, the main proponent of economic nationalism. The focus is on the distributional implications of trade, and the treatment of the benefits that a poor country may derive from trading with a rich country in 19th century economic thought. We also review the current literature on economic nationalism, and find that alternative perspectives emerge from differing views on the benefits and drawbacks of globalisation. We argue that List's approach remains relevant to understanding contemporary economic nationalism because it highlights a historical context in which the adverse distributional implications of foreign trade are likely to provoke nationalist sentiment. © 2018 Inderscience Enterprises Ltd.
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I employ a classification of headlines from newspapers and wire services to examine whether stale macroeconomic news affects stock prices. Unlike with individual stocks, the cost of obtaining information about major economic releases is relatively low. Thus, stock prices should adjust to economic news announcements prior to their coverage in newspapers. I find statistically and economically significant relationship between stale news stories on unemployment and next week's S&P 500 returns. This effect is then completely reversed during the following week. These findings show that investors are affected by salient information and support the hypothesis that investors overreact to stale macroeconomic news reported in newspapers. (C) 2017 Elsevier B.V. All rights reserved.
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This paper analyzes spectrum management practices in the Philippines. The regulatory body allocates available spectrum via an administrative approach which lacks transparency and due process. The paper recommends that the regulatory body adopts the auction method in allocating spectrums which is more transparent, fair, and cost-effective if a suitable design is adopted.
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A scholarly article by author Jason C. Patalinghug, published in the Journal of Applied Business and Economics
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This article extends the literature on the financial performance of real estate investment trusts (REITs) by examining whether U.S. REIT returns are impacted by global REITs and other real estate subsectors, such as the U.S. Real Estate Index (USRE) and the U.S. Mortgage Finance Index (USMF). The authors also explore the issue of volatility transmission and the asymmetric effect of volatility spillover on U.S. REIT returns from innovations originating in other real estate subsectors and Global REITs. Results suggest that U.S. REITs are impacted by USRE and USMF returns. There is also evidence of volatility spillover from key real estate constituents-that is, USRE and USFM returns and global REIT markets. These results can be attributed to the changing dynamics of the real estate sector and the gradual integration of the global real estate sector as an asset class. These findings have strong implications for constructing global portfolios including REITs.
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The United States spends nearly twice as much per capita on health care as several OECD countries. Based on previous research, universal health care decreases the total health care expenditure due to the single-payer system; it is still unknown whether a mixed health care system has superiority. In this study, we compare and evaluate both quality of care and administrative costs among six developed countries, upon three groups: single-payer universal health care system (Australia and Canada), two-tier health care system (France and Japan), and insurance mandate health care system (Switzerland and the US). The results show that both single-payer system and two-tier system are superior to insurance mandate system on health insurance administration costs. Also, regarding insurance mandate system, the healthcare system in Switzerland is more efficient than that in the US. So, we conclude that it is possible for the US to choose a diverse healthcare system, instead of focusing on one system, to trim the healthcare administration cost and improve the quality of care for the entire country.
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