This thesis uses a macroeconomic approach to study labour adjustments following sector-specific shocks. I develop a general model, investigate its dynamic adjustment process and apply it to study the Canadian economy in 2002–2006. This episode is an interesting case study because it features a significant labour reallocation to the resource sector and away from manufacturing, precipitated by an increase in global commodity prices and an associated exchange rate appreciation. The results establish that impediments to the adjustment process are economically significant in the aggregate for this episode, imposing costs of up to three percent of output during the transition. These findings augment several studies that suggest individual workers can face large and persistent earnings losses during job turnover. However, unlike previous research, I use the search and matching approach — which incorporates explicit labour market frictions — to uncover the sources of these costs for the macroeconomy. The findings emphasize that job loss itself is not particularly important quantitatively, but rather the non-transferability of skills during job turnover is a key concern. Finally, I investigate how labour market policy impacts the economy’s response to sector-specific shocks by analyzing a counterfactual policy change in unemployment benefits and improved skill acquisition through faster learning and training subsidies. The results reveal interesting policy trade-offs. First, I find that increasing unemployment benefits prolongs the economy’s adjustment, reduces employment, output and welfare and increases unemployment incidence and duration. However, because this policy impacts high-productivity and low-productivity sectors differently, it shifts the composition of the remaining jobs towards high-productivity sectors, thereby raising aggregate productivity and also reduces wage inequality. Second, I find that faster skill acquisition has the potential to deliver large economic gains in the long-run, but requires up-front investment costs which entail reduced economic performance in the short-run. / Thesis (Ph.D, Economics) -- Queen's University, 2008-08-05 23:44:39.827

Background: Though numerous studies have compared overground and treadmill walking there still exists a significant debate about whether the two modes of walking are equivalent. The present study provides a comprehensive evaluation of overground and treadmill walking at matched speeds and increasing treadmill speeds. Walking performance was compared in healthy adults, in people with stroke and between the groups. This is important to know because any differences may have implications for gait training in both groups. Methods: Ten healthy adults (50-73 years) and ten subjects with stroke (54-80 years) walked at their self-selected speed overground which was matched on a treadmill. Temporal parameters, angular kinematics and vertical ground reaction forces were recorded during walking once subjects were in steady state as determined from their heart rate and oxygen uptake, both of which were also recorded. Belt speed was then increased 10% and 20% above matched speed and steady state recordings obtained. Speed related adjustments were also evaluated and compared between the two groups of subjects. Results: For healthy adults, step, stride, and joint angular kinematics were similar for both modes of walking. Small reductions in double support time and decreased push-off force were evident on the treadmill. For subjects with stroke, step, stride, and stance times were longer when walking overground but the degree of symmetry was comparable for both surfaces. Kinematic data revealed interlimb asymmetry was more pronounced for all lower limb joint excursions during overground walking and vertical forces were higher. In comparison to healthy adults, stroke subjects walked with lower cadence, shorter strides, lower stance time, and smaller lower limb joint excursions than their healthy counterparts. When compared with overground walking the metabolic requirements of treadmill walking for healthy adults and subjects with stroke however were about higher by 23% and 15% respectively. All temporal-distance parameters, hip joint excursion, F1 and F2 forces and metabolic costs showed main effects of speed. An interaction between speed and group indicated that oxygen consumption increased at a greater rate in stroke than healthy subjects. Conclusions: The findings suggest that, although overground and treadmill gait patterns are similar for each group of subjects, people with stroke adopt a more symmetrical kinematic walking pattern on the treadmill that is maintained at faster belt speeds. Although there are differences in gait patterns between healthy and stroke subjects, both groups respond to the challenge of increased walking speed in the same way. One important difference is the abnormal elevation of energy demands associated with treadmill walking at faster speeds in stroke. Clinically, this warrants consideration as it may lead to premature fatigue and undesirable cardiorespiratory challenge in this group of individuals. / Thesis (Ph.D, Rehabilitation Science) -- Queen's University, 2009-08-27 06:41:19.999

The study was set out to investigate how selected historically disadvantaged schools in the Pietermaritzburg Education District, manage the prevalent non-payment of fees. The study used the survey method. The principals of schools were targeted because they are the accounting officers for the financial matters and executive members of the School Governing Bodies. Permission for conducting this research was obtained from the District Manager for the Department of Education and the principals of the sampled schools. For the purpose of data collection, the use of questionnaire and document analysis was adopted. Five principals, each representing their respective circuit in the District, responded to the questionnaire. The research studied financial records to obtain a general view of how principals manage school fees and to draw conclusion on the extent of non-payment of fees. The findings revealed that there is widespread tendency of non-payment of fees in schools. Poverty was cited as the reason for non-payment. Low and middle level income parents did not prioritise school fees from the lists of their accounts. Though principals understand that the victimising of non-paying learners of any form is contradictory to the South African Schools Act No 48 of 1996, they go on to withhold learners' results. Parents have not applied for school fee exemption and schools have not yet advised them to do so. Non-paying parents are reluctant to explain their position to the school and also unwilling to offer voluntary service to school as a form of payment. School fundraising efforts do not help them gain any reasonable amount of cash. The parental support in this venture is lacking. The study recommends that principals should look at other means of dealing with payment and should assist the eligible parents to apply for fee exemption. The Department of Education should consider scaling down personnel expenditure in the office based ranks to add more funds for teaching and learning in the historically disadvantaged schools. / Thesis (M.Ed.) - University of Natal, 2003.

The present paper provides further evidence on the importance of sunk costs as determinant of the turnover, entry, and exit of firms by studying the Austrian manufacturing industry using a 14-year panel. This study explicitly considers sunk costs related to investment in dedicated intangible assets such as investment relating to organizational and goodwill capital. The empirical results confirm the relevance of sunk costs as mobility barriers, their symmetry in respect to entry and exit and suggest that the influence of sunk costs is robust to aggregation. Sunk costs relating to capital expenditure and to organizational capital are found to be symmetric. Sunk costs relating to advertising expenditures seem to be only barriers to entry but not mobility barriers. Industry growth and profitability growth are found to be asymmetric, having a positive influence on entry and a negative on exit. Export growth is found to reduce the turnover of firms and to have a negative effect on exit suggesting that the decision to export may be associated with substantial sunk costs. (author's abstract) / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"

This thesis analyses how and why the recurrent costs of water services are shared between different actors in the rural local government areas in Mali which are supported by the international NGO WaterAid. This analysis of the financing arrangements for rural water services is used to critically assess theory, policy and practice in three areas: the community-based management approach to service delivery, the role of decentralised local governments in supporting community management, and the ability of external organisations to influence institutional change. Empirical evidence is presented for the period 2008-2011, drawing on research fieldwork undertaken in collaboration with WaterAid and its partners in 2010 and 2011, as the organisation introduced its own Sustainability Framework to help understand and address the challenges to delivering sustainable rural water services. The thesis argues that approaches to understanding local institutions for natural resource management based on ‘critical institutionalism' (Cleaver 2012), which emphasises the importance of improvisation and adaptation across different scales, should be placed within broader political economy analysis frameworks for assessing challenges in public services delivery from national to local levels. The use of such a framework shows how WaterAid and its partners adopt a ‘critical institutionalist' perspective at community levels to support users in developing ways of raising funds for water services which draw on both traditional practices and NGO influences. However at local government and national levels their approach is based on ideas of ‘best practice' rather than ‘best fit' (Booth 2012): although the costs of local government support to communities under the model promoted by WaterAid lie within international benchmarks, it is unclear over what timescale this approach could be scaled up in Mali without donor support. This demonstrates the limited ability of local governments to ensure the delivery of decentralised public services without additional external resources and support themselves.

This thesis investigates the engineering economics of interventions to reduce consumer inconvenience due to unreliable electricity supply in rural India. The work introduces and applies a novel approach to estimate interruption costs as loss in consumer surplus due to restricted consumption of electricity services. Chapter 2 reports an assessment that compares grid extension with distributed generation (DG) alternatives, based on the subsidies they will necessitate, and costs of service interruptions that are appropriate in the rural Indian context. Despite the inclusion of interruption costs, standalone DG does not appear to be competitive with grid extension at distances of less than 17 km. However, backing up unreliable grid service with local DG plants is attractive when reliability is very poor, even in previously electrified villages. Introduction of energy efficient lighting changes these economics, and the threshold for acceptable grid unreliability significantly reduces. Chapter 3 analyzes supply rostering (alternatively, “load shedding”) in metropolitan, small town and rural feeders in and around Bangalore city. The inequity in load shedding is analyzed through transfers due to differential tariffs between the urban and rural residential consumers, and the relief provided to BESCOM, through avoided procurement of additional supply from generators, because rural and small town feeders are load shed higher than Bangalore city. The values of the load shedding transfers are estimated to be in the range of Rs. 120-380/consumer-year from the rural consumers, and Rs. 220- 370/consumer-year from the small town consumers. The metropolitan consumers are found to be net beneficiaries. The viability of using smart meters to provide current limited but uninterrupted supply is investigated as one alternative to outright blackouts. Chapter 4 develops a broader theoretical framework that can be used to model consumer demand for electricity services with unreliable supply and adaptation. Demand for energy ‘services’ is modeled by incorporating time of use, duration and deferability. Supply reliability is disaggregated into its constituent dimensions– mean and variance of supply availability in times of high demand, and supply predictability, and their respective impacts on consumer welfare are discussed. Primary data collected from Karnataka inform the discussion, especially with backup adoption. New consumer-oriented reliability indices are proposed.

The thesis explored the effect of government regulation on the cost of developing Facility Plans for pollution abatement facilities in Indiana. The study used cost data from nearly 300 sewage works projects across Indiana from 1968 to 1976. The cost of professional services for these projects was computed on a per capita basis for each fiscal year and fluctuations in cost were analyzed in light of regulatory changes.It was found that the effect of these regulatory changes was to escalate costs, especially in fees for projects in municipalities with less than 2,000 population. / Department of Urban Planning

This paper utilizes a sample of 6,185 locally-issued, general obligation municipal bonds to examine the relationship between a city’s cumulative pension contributions and its cost of borrowing. Following the Great Recession unfunded public pension liabilities have soared to record highs, which, in theory, represent additional credit risks and may hinder local governments’ ability to service their outstanding debt. After controlling for bond characteristics, bond ratings, and issuer characteristics, the empirical analysis finds a statistically significant correlation between pension costs and borrowing costs, defined as the spread between the effective offering yield on municipal debt and the yield on a maturity-matched treasury on the municipal bond’s date of issuance. The results suggest that a 1% increase in cumulative city pension costs as a percent of city revenue is associated with an increase in yield spreads ranging from 1.2 to 3.5 basis points. These findings indicate that municipal bond investors do in fact consider pension expenses when pricing municipal bonds and suggest that addressing unfunded pension liabilities by mandating higher annual contributions will lead to higher borrowing costs for local governments.

We attempt to answer the following key questions: What are the revaluation effects and the impacts on the cost of capital, volatility, and correlation with world market returns from stock market liberalization in emerging market countries? These questions have been studied extensively at the market-level, i.e. using country indices, but not at the firm level. In the market-level analysis, there is increasing concern whether the country indices are proper means to answer those questions, for example they may not represent the real holdings of foreign portfolio investors after liberalization. Indeed, foreign portfolio investors are known to prefer investment in large and well-known firms. Hence, the opening of capital markets should have a differential impact across securities depending on foreign investors' demand. In order to take into account the potentially different impacts caused by foreign investors' demand, we use individual firm data as well as market-level indices. Our analysis is based on the cross-sectional and time-series panel regression method. / Our test results using country indices show statistically and economically significant revaluation effects, and increases in the cost of capital. While the stock market volatility increases, its correlation with world market return does not change after stock market liberalization. More important than these market-level findings, we report significantly different impacts of stock market liberalization, based on firm size, which is used as a proxy for foreign investors' demand. Large firms tend to exhibit large revaluation effects, insignificant change in the cost of capital, small increases in volatility, and increases in correlation with the world market from liberalization. Small firms show small revaluation effects, increases in the cost of capital, large increases in volatility and decreases in correlation with world market returns after liberalization. Our results have important implications for international investors seeking to manage their global exposure as well as for policy makers considering capital market liberalization.

Previous research has established a consensus that in-hospital adverse events are ubiquitous, cause significant harm to patients, and have important financial consequences. However, information on the extent, consequences and costs of adverse events in Canada is limited. For example, there is, as yet, no published study that has investigated the costs of adverse events in a Canadian context. This dissertation aims to redress this situation by providing Ontario-based estimates of the impact of eleven nursing sensitive adverse events on cost, death, readmission, and ambulatory care use within 90 days after hospitalization. This dissertation also aims to contribute more broadly to the patient safety literature by quantifying the impact of diagnostic coding error in administrative data on estimates of the excess costs attributable to adverse events. Given the increasing importance of these estimates in Canada and elsewhere for hospital payment policy and for assessments of the business case for patient safety, this is an important gap in the literature. Each of the adverse events was associated with positive excess costs, ranging from $29,501 (metabolic derangement) to $66,412 (pressure ulcers). Extrapolation from the study hospitals yielded a provincial estimate of $481 million in annual excess costs attributable to the adverse events, which represents 2.8 percent of Ontario’s total hospital expenditures. Several of the adverse events were also associated with significant excess rates of death, readmission, and ambulatory care use. These results suggest that there are economic as well as ethical reasons to improve patient safety in Ontario hospitals. Estimates of adverse event costs were highly sensitive to coding error. The excess cost of adverse events is likely to be significantly underestimated if the error is ignored. This finding, coupled with the observation that the likelihood of error is ignored in most studies, suggests that previous assessments of the business case for patient safety may have been biased against the cost effectiveness of patient safety improvements. Furthermore, the observed extent of institutional level variation in adverse event coding indicates that administrative data are an inadequate basis for adverse event payment policies or for public reporting of adverse event rates.