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Full-Text Articles in Social and Behavioral Sciences

A Taxonomy Of Non-Dictatorial Unidimensional Domains, Shurojit Chatterji, Huaxia Zeng Jan 2023

A Taxonomy Of Non-Dictatorial Unidimensional Domains, Shurojit Chatterji, Huaxia Zeng

Research Collection School Of Economics

Non-dictatorial preference domains allow the design of unanimous social choice functions (henceforth, rules) that are non-dictatorial and strategy-proof. On a class of preference domains called unidimensional domains, we show that the unique seconds property characterizes all non-dictatorial domains. Subsequently, we provide an exhaustive classification of all non-dictatorial, unidimensional domains, based on a simple property of two-voter rules called invariance. The domains constituting the classification are semi-single-peaked domains and semi-hybrid domains (introduced here) which are two appropriate weakenings of single-peaked domains and shown to allow strategy-proof rules to depend on non-peak information of voters' preferences; the canonical strategy-proof rules for these …

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Growth And Risk: A View From International Trade, Pravin Krishna, Andrei A. Levcheko, Lin Ma, William F. Maloney Jan 2023

Growth And Risk: A View From International Trade, Pravin Krishna, Andrei A. Levcheko, Lin Ma, William F. Maloney

Research Collection School Of Economics

This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. We use a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of quality growth and the corresponding cross-sectional variance of quality growth in a country are positively correlated. Second, both the mean and variance of quality changes are positively correlated with the country’s level of financial development. We then test these two hypotheses using data on disaggregated (HS10) bilateral exports to the United States. The patterns in the …

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Retail Pharmacies And Drug Diversion During The Opioid Epidemic, Aljoscha Janssen, Xuan Zhang Jan 2023

Retail Pharmacies And Drug Diversion During The Opioid Epidemic, Aljoscha Janssen, Xuan Zhang

Research Collection School Of Economics

This study investigates the role of retail pharmacy ownership in the opioid epidemic. Using data of prescription opioid orders, we show that compared with chain pharmacies, independent pharmacies dispense 39.1% more opioids and 60.5% more OxyContin. After an independent pharmacy becomes a chain pharmacy, opioid dispensing decreases. Using the OxyContin reformulation, which reduced non-medical demand but not the legitimate medical demand, we show that at least a third of the difference in the amount of OxyContin dispensed can be attributed to non-medical demand. We show that differences in competitive pressure and whether pharmacists own the pharmacy drive our estimates.

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The Persistence Of Ethnopopulist Support: The Case Of Rodrigo Duterte's Philippines, Dean C. Dulay, Allen Hicken, Ronald Holmes Jan 2023

The Persistence Of Ethnopopulist Support: The Case Of Rodrigo Duterte's Philippines, Dean C. Dulay, Allen Hicken, Ronald Holmes

Research Collection School of Social Sciences

The past few years have seen an emergence of populist leaders around the world, who have not only accrued but also maintained support despite rampant criticism, governance failures, and the ongoing COVID pandemic. The Philippines' Rodrigo Duterte is the best illustration of this trend, with approval ratings rarely dipping below 80 percent. What explains his high levels of robust public support? We argue that Duterte is an ethnopopulist who uses ethnic appeals in combination with insider vs. outsider rhetoric to garner and maintain public support. Moreover, we argue that ethnic affiliation is a main driver of support for Duterte, and …

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Bilingual Interactional Contexts Predict Executive Functions In Older Adults, Hwajin Yang, Yue Qi Germaine Tng, Gilaine Rui Ng, Wee Qin Ng Jan 2023

Bilingual Interactional Contexts Predict Executive Functions In Older Adults, Hwajin Yang, Yue Qi Germaine Tng, Gilaine Rui Ng, Wee Qin Ng

Research Collection School of Social Sciences

Drawing on the adaptive control hypothesis, we examined whether older adults' bilingual interactional contexts of conversational exchanges would predict important indices of executive functions (EF). We assessed participants' engagement in each bilingual interactional context - single-language, dual-language, and dense code-switching - and their performance on a series of nonverbal EF measures. Sixty-nine healthy older adults (M-age = 70.39 years; ages 60-93) were recruited from local community centers. We found that the dense code-switching context was associated with enhanced overall EF, but not individual facets of EF (inhibitory control, shifting, and updating). These findings held true when we controlled for a …

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Covid-19 Stress And Cognitive Failures In Daily Life: A Multilevel Examination Of Within- And Between-Persons Patterns, Nadyanna Binte Mohamed Majeed, K Tennakoon Appuhamillage Sandeeshwara Kasturiratna, Ming Yao Li, Jonathan L. Chia, Verity Y. Q. Lua, Andree Hartanto Jan 2023

Covid-19 Stress And Cognitive Failures In Daily Life: A Multilevel Examination Of Within- And Between-Persons Patterns, Nadyanna Binte Mohamed Majeed, K Tennakoon Appuhamillage Sandeeshwara Kasturiratna, Ming Yao Li, Jonathan L. Chia, Verity Y. Q. Lua, Andree Hartanto

Research Collection School of Social Sciences

The COVID-19 pandemic has claimed an extremely high number of lives worldwide, causing widespread panic and stress. The current research examined whether COVID-19 stress was associated with everyday cognitive failures, using data from a seven-day daily diary study of 253 young adults in Singapore. Multilevel modeling revealed that COVID-19 stress was significantly associated with cognitive failures even after adjusting for demographic factors, both at the within-person and between-persons levels. Specifically, individuals experienced more cognitive failures on days they experienced more COVID-19 stress (as compared to their own average levels of COVID-19 stress), and individuals who experienced more COVID-19 stress overall …

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Motivations, Policies And Performance: A Review Of China’S Culture ‘Going Out’ Strategy, Jihua Yang, David Ocon Jan 2023

Motivations, Policies And Performance: A Review Of China’S Culture ‘Going Out’ Strategy, Jihua Yang, David Ocon

Research Collection School of Social Sciences

Few countries have advanced their culture globally as China has done in the last two decades with its culture ‘going out’ strategy. Promoting cultural goods and services overseas and fostering cultural exchanges, the strategy is also part of the country’s efforts to advance its soft power abroad. Broadly, there are two contrasting perspectives on the strategy’s performance. Because of its stability and financial muscle, local analysts generally praise it, while the overarching official involvement provokes suspicion in some international contexts. This article provides a neutral assessment of the implementation, achievements, and impact of China’s culture ‘going out’ strategy, investigating its …

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The Political Ecology Of Death: Chinese Religion And The Affective Tensions Of Secularised Burial Rituals In Singapore, Quan Gao, Orlando Woods, Lily Kong Jan 2023

The Political Ecology Of Death: Chinese Religion And The Affective Tensions Of Secularised Burial Rituals In Singapore, Quan Gao, Orlando Woods, Lily Kong

Research Collection School of Social Sciences

This paper explores the political ecology of death and the affective tensions of secularised burial rituals in Singapore. Although scholars have recently acknowledged the roles of biopower and affect in shaping environmental politics, religion and death as socio-affective forces have not been substantively engaged with by political ecologists. We argue that death is inherently both a spiritual and ecological phenomenon, as it exposes not only the spiritual geographies that structure how people see the natural world, but also the affective tensions and struggles over what counts as a “proper” form of burial in relation to religion and nature. First, we …

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Public Policy Education In India: Promises And Pitfalls Of An Emerging Disciplinary Identity, Ishani Mukherjee, Dayashankar Maurya Jan 2023

Public Policy Education In India: Promises And Pitfalls Of An Emerging Disciplinary Identity, Ishani Mukherjee, Dayashankar Maurya

Research Collection School of Social Sciences

Despite the surge in global demand over the last few decades, the supply and design of public policy education has been notably concentrated within western and developed country contexts. The same era has not seen a comparable rise in public policy education and accreditation emerging from developing countries that are still unable to fully meet the existing domestic needs for these skills. In India, core public policy education is in its emerging, albeit promising stages. Drawing on several rounds of discussions with academic and administrative Heads of the Department for public policy in tertiary education institutes of India, this paper …

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Is Democracy Good For Growth? Development At Political Transition Time Matters, Di Sima, Fali Huang Jan 2023

Is Democracy Good For Growth? Development At Political Transition Time Matters, Di Sima, Fali Huang

Research Collection School Of Economics

Is democracy a better political regime for economic prosperity than autocracy? This paper shows that the answer depends on the initial economic development level during the democratic transition when the foundation of institutions was laid. Democracy facilitates growth only in countries that already have adequate development at transition time. These countries are more likely to create and sustain growth-enhancing institutions than others. Without appropriate development, democracy does not improve growth; this applies to about 40% of the third-wave democratized countries. These results are based on a sample of 153 countries in 1960–2010 and robust to various specifications and endogeneity issues.

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Executive Functions Predict The Trajectories Of Rumination In Middle-Aged And Older Adults: A Latent Growth Curve Analysis, Gilaine Rui Ng, Wee Qin Ng, Hwajin Yang Jan 2023

Executive Functions Predict The Trajectories Of Rumination In Middle-Aged And Older Adults: A Latent Growth Curve Analysis, Gilaine Rui Ng, Wee Qin Ng, Hwajin Yang

Research Collection School of Social Sciences

Previous studies suggest that executive functions (EF)—a set of domain-general cognitive control processes that contribute to the regulation of emotion—are generally associated with ruminative tendencies. However, there is a dearth of research that examines how EF influences changes in rumination over time, especially in middle-aged and older adults who typically experience a decline in EF. To fill this gap in the literature, we analyzed a large-scale combined dataset from the MIDUS Refresher, Daily Diary, and Cognitive Projects. We examined the impact of EF on the trajectory of rumination across 8 days using latent growth curve analysis. We also examined age …

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Deconstruction Of A Dialogue: Creative Interpretation In Comparative Philosophy, Steven Burik Jan 2023

Deconstruction Of A Dialogue: Creative Interpretation In Comparative Philosophy, Steven Burik

Research Collection School of Social Sciences

It is common knowledge that Martin Heidegger’s attempts at engaging non-Western philosophy are very much a construct of his own making. This article in no way seeks to disagree with those observations, but argues two things: first, that Heidegger’s “dialogue” with his two main other sources of inspiration, the ancient Greek thinkers and the German poets, is not different in kind or in principle from his engagement with East Asia. One can of course quite easily argue that Heidegger’s main interest was the ancient Greek thinkers, and then the poets, and only lastly Asia. But this hierarchy in preference does …

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Assessing The Effectiveness Of A Chatbot Workshop As Experiential Teaching And Learning Tool To Engage Undergraduate Students, Kyong Jin Shim, Thomas Menkhoff, Ying Qian Teo, Clement Shi Qi Ong Jan 2023

Assessing The Effectiveness Of A Chatbot Workshop As Experiential Teaching And Learning Tool To Engage Undergraduate Students, Kyong Jin Shim, Thomas Menkhoff, Ying Qian Teo, Clement Shi Qi Ong

Research Collection School Of Computing and Information Systems

In this paper, we empirically examine and assess the effectiveness of a chatbot workshop as experiential teaching and learning tool to engage undergraduate students enrolled in an elective course “Doing Business with A.I.” in the Lee Kong Chian School of Business (LKCSB) at Singapore Management University. The chatbot workshop provides non-STEM students with an opportunity to acquire basic skills to build a chatbot prototype using the ‘Dialogflow’ program. The workshop and the experiential learning activity are designed to impart conversation and user-centric design know how and know why to students. A key didactical aspect which informs the design and flow …

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Executive Function Deficits And Borderline Personality Disorder Symptomatology In A Nonclinical Adult Sample: A Latent Variable Analysis, Keisha Divya Veerapandian, Gabriel X. D. Tan, Nadyanna M. Majeed, Andree Hartanto Jan 2023

Executive Function Deficits And Borderline Personality Disorder Symptomatology In A Nonclinical Adult Sample: A Latent Variable Analysis, Keisha Divya Veerapandian, Gabriel X. D. Tan, Nadyanna M. Majeed, Andree Hartanto

Research Collection School of Social Sciences

While borderline personality disorder (BPD) symptomatology has been studied extensively in clinical populations, the mechanisms underlying its manifestation in nonclinical populations remain largely understudied. One aspect of BPD symptomatology in nonclinical populations that has not been well studied is cognitive mechanisms, especially in relation to executive functions. To explore the cognitive mechanisms underlying BPD symptomatology in nonclinical populations, we analysed a large-scale dataset of 233 young adults that were administered with nine executive function tasks and BPD symptomatology assessments. Our structural equation modelling did not find any significant relations between latent factors of executive functions and the severity of BPD …

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Think Your Way To Happiness? Investigating The Role Of Need For Cognition In Well-Being Through A Three-Level Meta-Analytic Approach, Verity Y. Q. Lua, Wei Ming Ooi, Siti A'Isyah Binte Mohd Najib, Christine Yin Ting Tan, Nadyanna M. Majeed, Angela K. Y. Leung, Andree Hartanto Jan 2023

Think Your Way To Happiness? Investigating The Role Of Need For Cognition In Well-Being Through A Three-Level Meta-Analytic Approach, Verity Y. Q. Lua, Wei Ming Ooi, Siti A'Isyah Binte Mohd Najib, Christine Yin Ting Tan, Nadyanna M. Majeed, Angela K. Y. Leung, Andree Hartanto

Research Collection School of Social Sciences

While the extent to which individuals engage in and enjoy cognitive abilities, commonly known as need for cognition (NFC), has been suggested to promote adaptive behaviors associated with well-being, there has not been a systematic examination of the strength of the relationship between NFC and well-being. This meta-analysis sought to examine the association between NFC and well-being. Based on 108 effect sizes extracted from 52 samples (50 records), a small to medium positive relationship (r = .20, 95% CI [.16, .23], p r|s = [.07, .45]). Exploratory moderation analyses showed that age moderated the relationship between NFC and well-being, whereby …

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Conditional Evaluation Of Predictive Models: The Cspa Command, Jia Li, Zhipeng Liao, Rogier Quaedvlieg, Wenyu Zhou Jan 2023

Conditional Evaluation Of Predictive Models: The Cspa Command, Jia Li, Zhipeng Liao, Rogier Quaedvlieg, Wenyu Zhou

Research Collection School Of Economics

In this article, we introduce a new command, cspa, that implements the conditional superior predictive ability test developed in Li, Liao, and Quaedvlieg (2022, Review of Economic Studies 89: 843–875). With the conditional performance of predictive methods measured nonparametrically by the conditional expectation functions of their predictive losses, we test the null hypothesis that a benchmark model weakly outperforms a collection of competitors uniformly across the conditioning space. The proposed command can implement this test for both independent cross-sectional data and serially dependent time-series data. Confidence sets for the most superior model can be obtained by inverting the test, for …

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Is A Pretrained Model The Answer To Situational Awareness Detection On Social Media?, Siaw Ling Lo, Kahhe Lee, Yuhao Zhang Jan 2023

Is A Pretrained Model The Answer To Situational Awareness Detection On Social Media?, Siaw Ling Lo, Kahhe Lee, Yuhao Zhang

Research Collection School Of Computing and Information Systems

Social media can be valuable for extracting information about an event or incident on the ground. However, the vast amount of content shared, and the linguistic variants of languages used on social media make it challenging to identify important situational awareness content to aid in decision-making for first responders. In this study, we assess whether pretrained models can be used to address the aforementioned challenges on social media. Various pretrained models, including static word embedding (such as Word2Vec and GloVe) and contextualized word embedding (such as DistilBERT) are studied in detail. According to our findings, a vanilla DistilBERT pretrained language …

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A Mixture Autoregressive Model Based On Student’S T–Distribution, Mika Meitz, Daniel Preve, Pentti Saikkonen Jan 2023

A Mixture Autoregressive Model Based On Student’S T–Distribution, Mika Meitz, Daniel Preve, Pentti Saikkonen

Research Collection School Of Economics

A new mixture autoregressive model based on Student’s t–distribution is proposed. A key feature of our model is that the conditional t–distributions of the component models are based on autoregressions that have multivariate t–distributions as their (low-dimensional) stationary distributions. That autoregressions with such stationary distributions exist is not immediate. Our formulation implies that the conditional mean of each component model is a linear function of past observations and the conditional variance is also time-varying. Compared to previous mixture autoregressive models our model may therefore be useful in applications where the data exhibits rather strong conditional heteroskedasticity. Our formulation also has …

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R&D Subsidies In Permissive And Restrictive Environment: Evidence From Korea, Yumi Koh, Gea M. Lee Jan 2023

R&D Subsidies In Permissive And Restrictive Environment: Evidence From Korea, Yumi Koh, Gea M. Lee

Research Collection School Of Economics

This paper investigates the extent to which a regulatory environment for R&D subsidies shapes the magnitude and direction of R&D subsidies set by a government and consequent innovation paths. When the WTO adopted a permissive regulatory environment, we find that the Korean government increased R&D subsidies significantly (89.21%) and selectively so for firms and industries with higher returns. Recipient firms conducted less basic research and more development research. Improvements in innovations were mostly incremental and minor. However, such changes did not persist once the WTO switched to a restrictive regulatory environment. Our findings show that the regulatory environment imposed by …

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Bubble Testing Under Polynomial Trends, Xiaohu Wang, Jun Yu Jan 2023

Bubble Testing Under Polynomial Trends, Xiaohu Wang, Jun Yu

Research Collection School Of Economics

This paper develops the asymptotic theory of the least squares estimator of the autoregressive (AR) coefficient in an AR(1) regression with intercept when data is generated from a polynomial trend model in different forms. It is shown that the commonly used right-tailed unit root tests tend to favor the explosive alternative. A new procedure, which implements the right-tailed unit root tests in an AR(2) regression, is proposed. It is shown that when the data generating process has a polynomial trend, the test statistics based on the new procedure cannot find evidence of explosiveness. Whereas, when the data generating process is …

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Is Democracy Good For Growth? | Development At Political Transition Time Matters, Di Sima, Fali Huang Jan 2023

Is Democracy Good For Growth? | Development At Political Transition Time Matters, Di Sima, Fali Huang

Research Collection School Of Economics

Is democracy a better political regime for economic prosperity than autocracy? This paper shows that the answer depends on the initial economic development level during the democratic transition when the foundation of institutions was laid. Democracy facilitates growth only in countries that already have adequate development at transition time. These countries are more likely to create and sustain growth-enhancing institutions than others. Without appropriate development, democracy does not improve growth; this applies to about 40% of the third-wave democratized countries. These results are based on a sample of 153 countries in 1960–2010 and robust to various specifications and endogeneity issues.

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Predictive Taxonomy Analytics (Lasso): Predicting Outcome Types Of Cyber Breach, Jing Rong Goh, Shaun S. Wang, Yaniv Harel, Gabriel Toh Jan 2023

Predictive Taxonomy Analytics (Lasso): Predicting Outcome Types Of Cyber Breach, Jing Rong Goh, Shaun S. Wang, Yaniv Harel, Gabriel Toh

Research Collection School Of Economics

Cyber breaches are costly for the global economy and extensive efforts have gone into improving the cybersecurity infrastructure. There are numerous types of cyber breaches that vary greatly in terms of cause and impact, resulting in an extensive literature for individual cyber breach type. Our paper seeks to provide a general framework that can be easily applied to analyze different types of cyber breaches. Our framework is inspired by the taxonomy approach in the cybersecurity literature, where it was proposed that an effective set of taxonomy can provide a direction on supporting improved decision-making in cyber risk management and selecting …

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Volatility Puzzle: Long Memory Or Antipersistency, Shuping Shi, Jun Yu Jan 2023

Volatility Puzzle: Long Memory Or Antipersistency, Shuping Shi, Jun Yu

Research Collection School Of Economics

The log realized volatility (RV) is often modeled as an autoregressive fractionally integrated moving average model ARFIMA(1, d, 0). Two conflicting empirical results have been found in the literature. One stream shows that log RV has a long memory (i.e., the fractional parameter d > 0). The other stream suggests that the autoregressive coefficient α is near unity with antipersistent errors (i.e., d

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Quantifying Stranded Assets Of The Coal-Fired Power In China Under The Paris Agreement Target, Weirong Zhang, Yiou Zhou, Zhen Gong, Junjie Kang, Changhong Zhao, Zhixu Meng, Jian Zhang, Tao Zhang, Jiahai Yuan Jan 2023

Quantifying Stranded Assets Of The Coal-Fired Power In China Under The Paris Agreement Target, Weirong Zhang, Yiou Zhou, Zhen Gong, Junjie Kang, Changhong Zhao, Zhixu Meng, Jian Zhang, Tao Zhang, Jiahai Yuan

Research Collection School Of Computing and Information Systems

Coal-fired power plays a critical role in China's compliance with the Paris Agreement. This research quantifies China's stranded coal assets under different coal capacity expansion scenarios with an integrated approach and high-precision coal-fired power database. From a top-down perspective, firstly, the pathway of China's coal-fired power capacity consistent with the global 2 degrees C scenario is outlined and then those stranded coal-fired power plants are identified with a bottom-up perspective. Stranded value is estimated based upon a cash flow algorithm. Results show that if coal capacity stabilizes during 2020-2030, China will only incur a sizeable yet manageable stranded asset loss …

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A Diversity-Enhanced Memetic Algorithm For Solving Electric Vehicle Routing Problems With Time Windows And Mixed Backhauls, Jianhua Xiao, Jingguo Du, Zhiguang Cao, Xingyi Zhang, Yunyun Niu Jan 2023

A Diversity-Enhanced Memetic Algorithm For Solving Electric Vehicle Routing Problems With Time Windows And Mixed Backhauls, Jianhua Xiao, Jingguo Du, Zhiguang Cao, Xingyi Zhang, Yunyun Niu

Research Collection School Of Computing and Information Systems

The electric vehicle routing problem (EVRP) has been studied increasingly because of environmental concerns. However, existing studies on the EVRP mainly focus on time windows and sole linehaul customers, which might not be practical as backhaul customers are also ubiquitous in reality. In this study, we investigate an EVRP with time windows and mixed backhauls (EVRPTWMB), where both linehaul and backhaul customers exist and can be served in any order. To address this challenging problem, we propose a diversity-enhanced memetic algorithm (DEMA) that integrates three types of novel operators, including genetic operators based on adaptive selection mechanism, a selection operator …

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Champions For Social Good: How Can We Discover Social Sentiment And Attitude-Driven Patterns In Prosocial Communication?, Raghava Rao Mukkamala, Robert J. Kauffman, Helle Zinner Henriksen Jan 2023

Champions For Social Good: How Can We Discover Social Sentiment And Attitude-Driven Patterns In Prosocial Communication?, Raghava Rao Mukkamala, Robert J. Kauffman, Helle Zinner Henriksen

Research Collection School Of Computing and Information Systems

The UN High Commissioner on Refugees (UNHCR) is pursuing a social media strategy to inform people about displaced populations and refugee emergencies. It is actively engaging public figures to increase awareness through its prosocial communications and improve social informedness and support for policy changes in its services. We studied the Twitter communications of UNHCR social media champions and investigated their role as high-profile influencers. In this study, we offer a design science research and data analytics framework and propositions based on the social informedness theory we propose in this paper to assess communication about UNHCR’s mission. Two variables—refugee-emergency and champion …

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Neighborhood Retail Amenities And Taxi Trip Behavior: A Natural Experiment In Singapore, Kwan Ok Lee, Shih-Fen Cheng Jan 2023

Neighborhood Retail Amenities And Taxi Trip Behavior: A Natural Experiment In Singapore, Kwan Ok Lee, Shih-Fen Cheng

Research Collection School Of Computing and Information Systems

While a small change in land use planning in existing neighborhoods may significantly reduce private vehicle trips, we do not have a great understanding of the magnitude of the project- and shock-based causal change in travel behaviors, especially for the retail purpose. We analyze the impact of newly developed malls on the retail trip behavior of nearby residents for shopping, dining or services. Using the difference-in-differences approach and big data from a major taxi company in Singapore, we find that households residing within 800 m from a new mall are significantly less likely to take taxis to other retail destinations …

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Personal Service Companies And The Tax Avoidance Surcharge In Singapore, Vincent Ooi, Ben Chester Cheong Jan 2023

Personal Service Companies And The Tax Avoidance Surcharge In Singapore, Vincent Ooi, Ben Chester Cheong

Research Collection Yong Pung How School Of Law

Incorporation of personal service companies provide tax and non-tax advantages. With the introduction of a tax avoidance surcharge in Singapore, incorporation for non-tax advantages risks additional “tax costs” if challenged by the revenue authorities, introducing uncertainty and litigation costs. Instead of relying on a GAAR, targeted measures should restrict tax advantages to the first company incorporated by each individual taxpayer.

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Lee Kong Chian School Of Business Year In Review 2021-2022, Singapore Management University Dec 2022

Lee Kong Chian School Of Business Year In Review 2021-2022, Singapore Management University

SMU Corporate Reports

As Singapore and the world reopens, this has led to changes, especially as people feel safe to travel abroad again. This has impacted us of course. We have seen an 8.9 percent drop in undergraduate applications from our 2022 high. This decline is due in no small part to the relaxation of travel restrictions. However, despite the drop, the quality of applications this year is similar or maybe even slightly better than the year before. In the end, we matriculated 884 students, above our target. This includes 38 scholarship recipients who accepted our offer, representing a record yield. We have …

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The Livingston Survey 2022, S. Anderson, B. Bovino, M. Brown, Thomas Lam, Et Al Dec 2022

The Livingston Survey 2022, S. Anderson, B. Bovino, M. Brown, Thomas Lam, Et Al

Sim Kee Boon Institute for Financial Economics

The 16 participants in the December Livingston Survey weakened their forecasts for real GDP growth, compared with their projections in the June 2022 survey. The forecasters, who are surveyed by the Federal Reserve Bank of Philadelphia twice a year, expect 2.0 percent annualized growth in real GDP during the second half of 2022. They project 0.4 percent annualized growth over the first half of 2023. The forecasters predict that real GDP will continue to decline and reach -1.0 percent annualized growth in the second half of 2023.

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