Digital Commons Network^™

Synthetic Control And Dynamic Panel Estimation: A Case Study Of Iran, Orkideh Gharehgozli

Dissertations, Theses, and Capstone Projects

International sanctions imposed on Iran, targeting primarily Iran’s key energy sector and its ability to access the international financial system, have harmed Iran’s economic growth, specifically from 2011 to 2014. This thesis uses this case to study and compare the applicability of two different popular approaches used in comparative case studies exploring the effect of a policy intervention.

In the Chapter 1 we study the synthetic control method. Using this method, we estimate the effect of the intensification of sanctions on Iran’s GDP during the period 2011 to 2014. The year of 2011 was Iran’s first full year under these …

Time-Series And Cross-Section Variation Of Bond Risk Premia, Niloofar Sahebalzamany

Dissertations, Theses, and Capstone Projects

A long-term bond that is sold before its maturity has an uncertain excess return over the certain return from a shorter-term risk-free bond maturing at the time of sale. There is strong evidence that this excess return is predictable and that the predicted excess return, or risk premium, is time varying. Cochrane and Piazzesi (2005) use five forward rates to predict excess returns on one to five-year maturity bonds. I extend and improve their approach in multiple aspects. Firstly, the data set for the US market is expanded in two dimensions: cross-section and time series. In the cross-section dimension, one- …

Essays On The Economics Of Unhealthy Behaviors, Raul Segura-Escano

Dissertations, Theses, and Capstone Projects

This dissertation aims to explore a variety of responses in the form of unhealthy behaviors as a consequence of different sudden events perceived by individuals. The first one is the doubtlessly pure exogenous shock caused by an unexpected terrorist attack, Boston Marathon Bombings. The second one is the turmoil caused by the Great Recession of 2008, which is the most serious economic downturn since the Great Depression during the 1930’s. This dissertation consists of the following two chapters:

Chapter 1: “The Impact of Terrorism on Mental Health and Substance Use: Evidence from the Boston Marathon Bombings” On April 15, 2013, …

Corporate Urbanization: Between The Future And Survival In Lebanon, Deen S. Sharp

Dissertations, Theses, and Capstone Projects

If you look today at the skyline of downtowns throughout the Middle East and beyond, the joint-stock corporation has transformed the urban landscape. The corporation makes itself present through the proliferation of its urban mega-projects, including skyscrapers, downtown developments and gated communities; retail malls and artificial islands; airports and ports; and highways. Built into these corporate urban structures are edifices of politics, ideology and certain forms of socio-spatial and temporal organization. The corporation, however, has largely escaped critical scholarly analysis in Geography and/or Urban and Middle East Studies. In this thesis, I argue that the corporation is far more than …

Essays On The Market Structure Of The U.S. Health Care System, Ayse S. Diebel

Dissertations, Theses, and Capstone Projects

This dissertation examines the welfare implications of vertical restraints in the U.S. health care market. I focus on two phenomena that influence vertical relationships between hospitals and insurers: vertical integration and vertical bundling. Both of these practices have potential efficiency-inducing and anti-competitive effects from a theoretical standpoint, making welfare implications ambiguous. I analyze their impact on welfare in an empirical setting. This task requires structurally modeling the market by using data on hospitals, insurers, and consumers, and simulating counterfactual worlds free of vertical restraints.

I construct my dataset by combining data from multiple sources. Hospital characteristics come from the American …

From Prison To Homeless Shelter: Camp Laguardia And The Political Economy Of An Urban Infrastructure, Christian D. Siener

Dissertations, Theses, and Capstone Projects

At this time of increasing housing insecurity, recent reforms in homeless shelter policy have attracted the attention of scholars and activists. This research sheds light on these changes by placing them in historical and political-geographic perspective, focusing on the role of homeless shelters in stabilizing social displacement by destabilizing solidarity. It demonstrates historical continuity between prisons and homeless shelters in New York City through a case study of conditions surrounding the transition of Camp LaGuardia, a prison that slowly transformed into the city’s largest, and longest lasting, homeless shelter. The case study is an empirical demonstration of some of the …

Making It Pay To Be A Fan: The Political Economy Of Digital Sports Fandom And The Sports Media Industry, Andrew Mckinney

Dissertations, Theses, and Capstone Projects

This dissertation is a series of case studies and sociological examinations of the role that the sports media industry and mediated sport fandom plays in the political economy of the Internet. The Internet has structurally changed the way that sport fans access sport and accelerated the processes through which the capitalist actors in the sports media industry have been able to subsume them. The three case studies examined in this dissertation are examples of how digital media technologies have both helped fans become more active producers and consumers of sports and made the sports media industry an integral and vanguard …

Essays In New Keynesian Monetary Policy, Tzu-Hao Huang

Dissertations, Theses, and Capstone Projects

The dissertation consists of three Chapters. I consider New Keynesian models which involve tradeoffs between output gap and inflation variances. Such policy strategy is often referred to as flexible inflation targeting rules (e.g., Lars Svensson 2011, pp.1238-95). Taylor rules, in general, have the symbolic expression 𝑖_t=𝜑_x𝑥_t+𝜑_𝜋𝜋_t+𝜑_g𝑔_t, where 𝑖_t is the nominal interest rate at period t, 𝑥_t is the target variable output gap at period t, 𝜋_t is the target variable inflation rate at period t, 𝑔_t is realized shock …

Race And Gun Violence In The United States: A Case Study Of Policy Reform In Missouri, Morgan C. Williams Jr

Dissertations, Theses, and Capstone Projects

Gun violence remains an important contributor to racial differences in mortality within the United States. Despite the existence of these significant racial disparities in firearm homicide victimization, the relationship between gun control policy and racial disparities in homicide remains largely unexplored within the empirical crime literature. Previous research suggests that access to secondary firearm markets serves as a salient contributor to local gun violence with the regulation of private firearm sales falling exclusively within state-level jurisdiction. The role of state-level background check requirements for private firearm sales in reducing gun violence remains controversial in both the empirical literature and gun …

Out Of The Shadows: Women Of The Fmln Guerrilla Army In El Salvador’S Civil War, 1979–1992, Erica Gonzalez

Dissertations, Theses, and Capstone Projects

Over the course of a century, revolutionary movements have emerged every few years across the region of Central America, movements that fought for overturning dictatorships and confronting socio-economic inequalities. Women experience higher levels of poverty, human rights violations and discrimination due to gender inequalities. Representing 30% of the FMLN guerrilla army, women in El Salvador took a quantum leap into one of the most horrific and violent armed conflicts in the history of the country (Montgomery 123). Theorists have sought to explain why women became involved in the war. Experts of insurgent collective action agree that women's participation played a …

The Dictators’ Dilemma: Repression Or Concessions In The Face Of Resistance, Chris Massaro

Dissertations, Theses, and Capstone Projects

The Arab Spring revolts of late 2010 and 2011 were a profound moment in the history of a region troubled by decades of authoritarianism. Years of economic mismanagement and security force repression trammeled on the rights and aspirations of people striving for a better life. When social movements and anti-government protests erupted throughout the region, each country responded to the uprisings with different methodologies. This research closely examines why autocratic regimes of the region chose such divergent responses, with some opting to use violent repression, others attempting to make concessions and most combined repression with concessions. I will make the …

Essays On Banking And Corporate Finance, Alev Isil Yildirim

Dissertations, Theses, and Capstone Projects

This dissertation consists of two chapters.

Chapter 1: The Effect of Relationship Banking on Firm Efficiency

This paper analyzes the impact of relationship bank oversight on firm operational efficiency and default risk. I find that a new loan from a relationship bank improves the technical efficiency of inefficient firms that have an elevated probability of default. Moreover, borrowing firms with elevated default risk exposure experience reductions in their probabilities of default in the years following new relationship bank loans, benefiting both banks and borrowers. Thus, the benefits of relationship bank monitoring are most apparent the higher the ex ante default …

Venezuela: Oil And Madness. Politics, Propaganda, And Realities Of The Chavista Era, Alvaro E. De Prat

Dissertations, Theses, and Capstone Projects

This thesis is an interdisciplinary exploration of Venezuela’s political paradoxes and their consequences during the Chavista years. On a concrete level, in this work I propose how the manner in which Hugo Chávez implemented his at first apparently benign redistributive politics in fact precipitated the country's current humanitarian crisis and what I will argue are the times of starkest inequality in modern Venezuelan history. Integral to this, although on a more philosophical level, here I also offer a theory of how and why Chávez’s representations might have been so misinterpreted.

The list of eminent political thinkers who have vouched for …

Essays On The Transmission Of Risk And Volatility Across International Financial Markets, Evan Warshaw

Dissertations, Theses, and Capstone Projects

This dissertation consists of three distinct but related chapters studying the behavior of international financial markets. Chapter 1 explores volatility spillovers between European equity and foreign exchange markets from 2009 until 2016. In contrast to traditional empirical methods, this study uses realized volatility estimates to analyze causal linkages across the frequency domain. Volatility spillovers are tested using the CAC 40, DAX, and FTSE 100 equity indices and the USD/GBP, USD/EUR, and GBP/EUR exchange rates. Results show that volatility spillovers are bidirectional and asymmetric across the frequency domain. Daily volatility spillover from equity to foreign exchange markets is significant at high, …

Dancing, Mindfulness, And Our Emotions: Embracing The Mind, Body, And Sole, Alisha M. Collins

Dissertations, Theses, and Capstone Projects

This capstone project examines dance, as an intervention and mindfulness practice that assists with managing our emotions. There is a need for dance therapy in social institutions such as, healthcare facilities, schools, and community centers. Dance therapy has the potential to reduce negative emotions, create mindfulness, improve self-expression, and promote a healthy well-being. I am proposing that dance therapy is applied as a regular practice in social institutions to develop mindfulness and promote emotional stability.

In this study, I argue that dance therapy can contribute to our well-being long term. In addition to this written thesis, a visual component of …

Essays On The Economics Of Health And Human Capital, Paloma Lopez De Mesa Moyano

Dissertations, Theses, and Capstone Projects

This dissertation explores dynamics related to the formation of human capital. In the two chapters contained within, my work investigates how human capital is formed and maintained through either individual decisions or historic events. In particular, the first chapter analyzes the long-term health effects of a large-scale bombing campaign on the population of a developing country up to two generations after the event occurred; the second chapter analyzes how attending a public honors college in the U.S. affects the degree completion of students and their college quality choice. In these two different contexts, I approach the common topic of human …

Capital Growth: Precision Agriculture And Vertical Farming In The Corporate Food Regime, Justin Taylor

Dissertations, Theses, and Capstone Projects

Agriculture in the 21st century has entered a digital age. New technologies emphasize GPS, big data, cloud computing, the Internet of Things, automation, sensors, and robotics, contributing to two modes of modern food production known as precision agriculture and vertical farming. Through an interdisciplinary review of scientific and social scientific scholarship, this paper examines the ways in which these two technologies interact with the global corporate food regime and explores their impact in core, peripheral, and semi-peripheral countries. It also engages in a discourse analysis of promotional materials and interview statements from precision agriculture and vertical farming firms to expose …

Essays On Wealth Inequality And Asset Pricing, Georgios Koimisis

Dissertations, Theses, and Capstone Projects

Economic and financial theories are often found to be in conflict with empirical evidence, suggesting revisions and elaborations of existing models. There are usually many revisions proposed in response to these "puzzles", but often the true resolution may be a factor not yet realized. This dissertation consists of three chapters and contributes to the explanation of a persistent and significant anomaly, the equity premium puzzle, by taking into account the implications of wealth inequality on consumer preferences and, consequently, on asset prices.

The first chapter examines how wealth inequality affects asset prices in a complete market setting. Wealth inequality is …

Analyzing Housing Demand And Its Role In The U.S. Economy, Irina Ayzenberg

Dissertations, Theses, and Capstone Projects

In the most recent economic downturn, caused by the burst of the housing bubble and the subprime mortgage crisis, the housing market took a direct hit: mortgage default rates were over 10 percent, housing prices fell 35 percent from 2005 to 2009, more than 5 million homes were foreclosed since 2008, and interest rates hit rock-bottom. In response, the U.S. Federal Reserve adopted aggressive expansionary monetary policies to get the economy back on track, some of which are in effect today. In order to really understand the state and direction of the U.S. economy today, we need to better understand …

Essays On Environmental Conditions In Cuba, Gonzalo Cordova

Dissertations, Theses, and Capstone Projects

Cuban environmental conditions have not attracted the attention received by otherareas of Cuba's economic performance. Chapter 1 examines selected ambient air pollutants and the use of fossil fuels in Cuba, indicators for which there are relatively better available data, as of the “Special Period” extending into recent years. In contrast with prior anecdotally-driven approaches, the empirical examination aims to specifically identify Cuba's performance and international standing on these indicators through the use of a heterogeneous individual country adaptation of the income-pollution relationship known as the Environmental Kuznets Curve. In response to critiques in the literature, extensive testing of the panel …

Essays On The Economics Of Driving And Health, Jessica Lynn Peck

Dissertations, Theses, and Capstone Projects

This dissertation comprises three essays on the economics of driving and health. The first examines the effect of the ride-hailing service Uber, its launch in New York City in May 2011, and the resulting drunk-driving outcomes in the counties that received service compared with those that did not. The difference-in-differences estimation of this effect implies a 25 to 35 percent decrease in the alcohol-related collision rate for the affected New York City boroughs, or about 40 collisions per month. With differentiated treatment effects for each affected county, the difference-in-differences effect is higher for Manhattan, middling for the Bronx and Brooklyn, …

Economics, Politics And The Environment, Ron Mandelbaum

Dissertations, Theses, and Capstone Projects

Classical economists were interested in macroeconomic issues, i.e. how the economy worked as a whole and how it grew over time. This is opposed to neo-classical economists, which focus on decision-making processes of individuals and individual firms. This thesis sets out to examine how that change occurred and what it means for the way that economics studies the environment. In order to provide a partial answer to this question, this paper describes the different outlooks between classical and neo-classical economists regarding value. It also examines and contrasts the economic approaches of Marx and Mill, whose way of thinking about social …

Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita

Dissertations, Theses, and Capstone Projects

This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our model …