Digital Commons Network^™

Financial Contagion And Financial Lockdowns, Gabriele Camera, Alessandro Gioffré

ESI Working Papers

Extreme financial shocks often elicit extraordinary policy interventions that preclude financial activity on a large scale, for example as the 1933 U.S. “bank holiday.” We study these interventions using a random matching framework where the financial contagion process is explicit and the diffusion of the initial shock can be analytically characterized. The study suggests that there is scope for forced closures of individual firms or even economy-wide financial lockdowns only when firms are financially vulnerable and policy institutions are not well-functioning. Here, ordinary policy alone cannot prevent or sufficiently mitigate contagion, while complementing it with a lockdown or individual closures …

Evolution Of Primate Vocal Repertoires: Vocalization Systems As Embodied Capital For Mediating Within-Group Conflict, Eric Schniter, Mateo Peñaherrera-Aguirre

ESI Working Papers

Phylogenetic studies of communication help us understand evolutionary changes that led to human language – a form of primate communication, extraordinarily complex in terms of its varied vocalizations. Here we describe the macro-evolutionary role of life history traits on primate vocalization systems, informing our understanding of the relationships between social complexity and primate vocal repertoire size. We reviewed the primatological literature and collected information on the vocal repertoire size, social conflict, group size, endocranial volume, and maximum longevity of 42 non-human primate species. We conducted a set of analyses to examine the role of these factors on the macroevolution of …

Bidder-Optimal Information Structures In Auctions, Dirk Bergemann, Tibor Heumann, Stephen Morris

Cowles Foundation Discussion Papers

We characterize the bidders' surplus maximizing information structure in an optimal auction for a single unit good and related extensions to multi-unit and multi-good problems. The bidders seeks to find a balance between participation (and the avoidance of exclusion) and efficiency. The information structure that maximizes the bidders surplus is given by a generalized Pareto distribution at the center of demand distribution, and displays complete information disclosure at either end of the Pareto distribution.

Microeconomic Social And Resource Barriers To Music Education Expansion In Impoverished South Carolina Areas, Anna Susanne Holley

Doctoral Dissertations and Projects

Despite much information in outreach in impoverished areas, research has yet to fully show the barriers to music education expansion in poverty-level South Carolina. This qualitative study is conducted using previous data for correlation through research analysis of social attitudes and resource-based barriers to participation rates and expansion of music education throughout South Carolina. Research discovered that impoverished students are much less likely to participate in music education and less than 25% of United States seniors, whether public or privately educated, are actively participating in music education programs. Lastly, statistics shows less than half of students with access to music …

Written Testimony Of Philip Hackney For The Hearing On Growth Of The Tax-Exempt Sector And The Impact On The American Political Landscape (U.S. House Ways & Means Subcommittee On Oversight, December 13, 2023), Philip Hackney

Testimony

In written testimony before the House Ways & Means Subcommittee on Oversight on December 13, 2023, Professor Hackney emphasized three points about tax-exempt organizations and politics: (1) a diverse nonprofit sector that fosters civic participation and engagement is a gem of the United States -- we should maintain that; (2) the IRS budget for Exempt Organizations continues to NOT be sufficient to ensure the laws are equally and fairly enforced; and (3) there are simple things the IRS could do to enforce the law that it is not doing.

Affordable Housing Testimonies & Sources, Asma Mahamed

What Are The Affordable Housing Options in Portland, Maine?

Asma Mahamed

December 12th, 2023

Civic Leadership

Final Testomity

Human-Robot Interactions: Insights From Experimental And Evolutionary Social Sciences, Eric Schniter

ESI Working Papers

"Experimental research in the realm of human-robot interactions has focused on the behavioral and psychological influences affecting human interaction and cooperation with robots. A robot is loosely defined as a device designed to perform agentic tasks autonomously or under remote control, often replicating or assisting human actions. Robots can vary widely in form, ranging from simple assembly line machines performing repetitive actions to advanced systems with no moving parts but with artificial intelligence (AI) capable of learning, problem-solving, communicating, and adapting to diverse environments and human interactions. Applications of experimental human-robot interaction research include the design, development, and implementation of …

Enlightenment Ideals And Belief In Progress In The Run-Up To The Industrial Revolution: A Textual Analysis, Ali Almelhem, Murat Iyigun, Austin Kennedy, Jared Rubin

ESI Working Papers

We trace the evolution of the language of science, religion, and political economy in the centuries leading to the British Industrial Revolution. Using textual analysis of 173,031 works printed in England between 1500 and 1900, we test whether British culture manifested a belief in progress associated with science and industry. Our analysis yields three main findings. First, there was a separation in the language of science and religion beginning in the late-17th century. Second, volumes using language at the nexus of science and political economy became more progress-oriented during the Enlightenment. Third, volumes using industrial language—especially those at the science-political …

Employment, Income, And Poverty In Kalamazoo City Core Neighborhoods, Val Klomparens

Reports

This report employs a traditional methodology using American Community Survey data to examine employment, income, and poverty in three neighborhoods in Kalamazoo, Michigan: Eastside, Northside, and Edison. These neighborhoods are studied with an emphasis on eligibility status for the Distressed Area Recompete Pilot Program, administered through the U.S. Economic Development Administration. Eastside residents are unique in that a larger share earn income through wages or employment than do Michigan residents, yet their median income falls below those at the county and state levels in a statistically significant way. The Edison neighborhood is characterized by greater income inequality than the other …

Recognizing Power And Control When Planning Your Estate, Allan Vyhnalek

Cornhusker Economics

The older generations have spent their entire professional lives using the power and control that they accumulated through hard work and their long tenures. Having them retire and give up that control and power is difficult for some in those generations. Overall, it is challenging for them to give up control or power.

Is The Declining Birthrate Really An Issue For The Economy?, Harsh Ramesh Pednekar, Theodore Lee, Darrion Chin

Introduction to Research Methods RSCH 202

This study aims to explore the complex implications of declining birth rates on the economy, focusing on GDP per capita as a crucial metric, and aims to uncover both potential opportunities and challenges stemming from this demographic transformation using regression analysis. Using a quantitative methodology and secondary data from OECD.stat, World Population Review, and World Bank, the study explores the relationship between declining birth rates and economic impacts. GDP per capita serves as an essential dependent variable, and it accounts for control variables such as labour force participation, literacy, and education levels, child dependence ratio, and physical capital. Past studies …

(Wp 2023-06) Richard Arena On Sraffa And Wittgenstein, John B. Davis

Economics Working Papers

This paper discusses Richard Arena’s insightful and original contributions to interpreting the important interaction between Piero Sraffa and Ludwig Wittgenstein. It discusses this in terms of dilemmas they each encountered in transitions in their thinking in the 1930s, emphasizes the influence of Sraffa’s unpublished “Surplus Product” text, compares Sraffa’s critique of “natural science point of view” and Wittgenstein’s critique of logical form, and compares Sraffa’s later understanding of the relationship between production and distribution and Wittgenstein’s later understanding of forms of life and language-games. The paper argues this thinking opened up a approach to economic philosophy in connection with the …

Sports Team Success And Managerial Decisions: The Role Of Playing Time Concentration, Alexander Cardazzi, Brad R. Humphreys, Kole Reddig

Economics Faculty Working Papers Series

Professional sports teams employ highly paid managers and coaches to train players and make tactical and strategic team decisions. A large literature analyzes the impact of manager decisions on team outcomes. Empirical analysis of manager decisions requires a quantifiable proxy variable for manager decisions. Previous research focused on manager dismissals, tenure on teams, the number of substitutions made in games, or the number of healthy players on rosters held out of games for rest, generally finding small positive impacts of manager decisions on team success. We analyze manager decisions by developing a novel measure of game-specific coach decisions based on …

The Differential Impact Of 4ps On Child Labor Before And During The Covid-19 Pandemic, Hannah Grace Villaret, Joey Anastacio, Yohana B. Burgos, Lyka May Pauline Fernandez, Paulynne J. Castillo, Roberto Raymundo, Joel Q. Tanchuco

Angelo King Institute for Economic and Business Studies (AKI)

Poverty is widely considered the root cause of child labor in the Philippines. Thus, the Pantawid Pamilyang Pilipino Program (4Ps) was designed to alleviate poverty and reduce child labor through financial assistance, conditional on welfare investments like children’s education. Using 2017, 2019, and 2020 data from the Annual Poverty Indicators Survey (APIS), the study estimated the differential impact of 4Ps on child labor before and during COVID-19 across varying demographic, socio-economic, and locational characteristics. Results from the propensity score matching (PSM) and difference-in-differences (DID) model indicated that since cash transfers cannot fully offset the opportunity cost of children’s education, children …

Analysis On The Credit Accessibility And Growth Of Manufacturing Firms In The Cases Of Indonesia, Philippines, And Vietnam, Sophia Angela Jimenez, Kamille Daquinag, Maria Regina Victoria Sagrit, Brian Irvin Chan, Albert Lamberte, Maria Zunally Rapada, Krista Danielle Yu

Angelo King Institute for Economic and Business Studies (AKI)

Micro, small, and medium enterprises (MSMEs) contribute to income and employment generation, poverty reduction, and industry growth in the ASEAN region (Mendoza, 2015). Their significant contributions to economies have led countries to emphasize the importance of firm growth, which is influenced by credit accessibility. Majority of existing enterprises in Indonesia, the Philippines, and Vietnam are composed of MSMEs with limited financial resources to foster growth (Paratama, 2019). This hinders the potential of manufacturing MSMEs to have sufficient funding. However, existing literature suggests that credit access significantly provides a positive impact on firm growth only until a certain threshold point (Nizam …

The Economic Impact Of Artprize 2023, Christian Glupker, Paul Isely

Other Faculty Publications

ArtPrize is estimated to have generated or supported economic benefits for Kent County in the following ways:

• The total economic impact of all primary visitor spending and ArtPrize operational spending is estimated at $54.7 million in economic output supporting 434 jobs.
• 714,345 total visitors, with 53% visiting from outside the local region. The average age of all visitors was 47 years old.
• 39% of local visitors and 69% of all nonlocal visitors stated that ArtPrize was their primary reason for visiting Grand Rapids.
• All local visitors spent an average of 2.6 days at ArtPrize and all nonlocal visitors spent an …

St. Cloud Area Quarterly Business Report, Vol. 25, No. 4, King Banaian, Mana Komai Molle

St. Cloud Area Quarterly Business Report

Businesses reported worsening economic conditions in the last three months of 2023, but expressed optimism for the first half of 2024. Over the year on a seasonal basis, only 135 jobs (0.1%) were added to the economy. Four of six regional economic indicators pointed down. Only 60% of businesses surveyed reported the same operating hours as they had had in 2020; half of the remaining 40% said their hours were more flexible, while the other half decreased hours of operation. They also said one third of customers now had higher expectations of firm performance than 2020. Improvements in speed and …

An Interview Study Of Pricing, Truman F. Bewley

Cowles Foundation Discussion Papers

Why do the prices of some products change little during business cycles while the prices of others vary wildly and tend to rise during economic booms and fall during recessions? In particular, why do the prices of some products not fall or fall only a little when the demand for them declines dramatically. It is not surprising that in highly competitive industries prices fluctuate with shifts in demand and supply, but what explains the stability of prices in markets where firms have more direct control of prices? These questions are central to an understanding of business cycles, and good answers …

Argentina And The Philippines: Similar Development Struggles, Jesus Felipe, Matias Vernango

Angelo King Institute for Economic and Business Studies (AKI)

ALTHOUGH the economies of Argentina and the Philippines are very different, the two share structural problems that make both nations’ development a complex process. The election of Javier Milei as the new president elect of Argentina, gives us the opportunity to review the differences and parallels between the two economies.

Milei is a radical libertarian populist economist with authoritarian tendencies. His proposals range from the dangerous in economics (dollarization, closing the Central Bank, a drastic reduction of social spending) and social issues (curtail human rights and democratic advances, loosen gun ownership laws, and the elimination of all those institutions that …

An Analysis On The Efficiency Of Philippine Microfinance Institutions: A Stochastic Frontier Approach, Ryan Lou Dio, Elijah Jacob Mendoza, Lunette Clarisse Nunez, Ma. Ellory Villanueva, Myrna S. Austria, Tereso S. Tullao Jr

Angelo King Institute for Economic and Business Studies (AKI)

Microfinance institutions (MFIs) were created to provide loans and financial services for the poor as commercial banks have requirements that are not accessible to them. The Philippines government soon started using MFIs as a poverty alleviation tool to answer the market failure created by the commercial banking industry since it cannot accommodate the needs of low-income earners due to the high costs attached to it. However, recent studies have shown that MFIs are “mission drifting,” which means that they are deviating from their original social purpose and becoming more financially driven. As a result, this paper estimates the financial and …

Moral Salience And Conditional Altruism: Reconciling Jekyll And Hyde Paradoxes, James Konow

Economics Faculty Works

Many recent studies have revealed an economically and socially important paradox: people sometimes behave morally in certain situations but then behave immorally (or less morally) under conditions that differ for reasons that seem morally irrelevant. These patterns are inconsistent with both theories of rational self-interest as well as with theories that incorporate stable social preferences. This paper introduces a parsimonious and tractable theory of moral salience and conditional altruism that is consistent with anomalies involving uncertainty, exit options, the ability to take from others, and the possibility to destroy or create earnings of others. The proposed framework is general enough …

The Determinants Of The Underemployment Gender Gap In The Philippines: A Decomposition Analysis, John Ichiro Arbole, Luisa Martina Gaston De La Paz, Therese Genota, Katrina Hernandez, Lawrence B. Dacuycuy, Maria Zunally Rapada, Krista Danielle Yu

Angelo King Institute for Economic and Business Studies (AKI)

Underemployment is a prevalent labor market issue around the globe. It reflects how an individual can be employed but is unable to work to their desired number of hours, receive sufficient wages, or fully utilize their skills, leaving them in precarious working conditions. Studies on underemployment and its gendered impact in the Philippines remains limited with most labor studies primarily addressing wage and unemployment. This study addresses this gap by identifying the factors contributing to underemployment and gender-based inequalities in the Philippines. Using quarterly data from the Labor Force Survey from 2012 to 2021, we distinguished between visible and invisible …

Extension Event Attendance Increases Adoption Of Weed Management Practices By Sports Field Managers, George Frisvold, Chandrakant Agme, David Ervin, Shawn W. Askew, Rebecca Grubbs Bowling, Jennifer Allen, James T. Brosnan, Multiple Additional Authors

Economics Faculty Publications and Presentations

Data from a national survey of 348 U.S. sports field managers were used to examine the effects of participation in Cooperative Extension events on the adoption of turfgrass weed management practices. Of the respondents, 94% had attended at least one event in the previous 3 yr. Of this 94%, 97% reported adopting at least one practice as a result of knowledge gained at an Extension turfgrass event. Half of the respondents had adopted four or more practices; a third adopted five or more practices. Nonchemical, cultural practices were the most-adopted practices (65% of respondents). Multiple regression analysis was used to …

China’S Changing Perspective On The Wto: From Aspiration, Assimilation To Alienation, Henry S. Gao

Research Collection Yong Pung How School Of Law

Since its accession to the WTO twenty years ago, China’s image has shifted from a good student aspiring to assimilate itself into the multilateral trading system to one that is increasingly alienated from key WTO principles. How has China’s perspective on WTO been evolving? What are the reasons behind China’s changing perspective? This chapter addresses these questions from the Chinese perspective with a comprehensive analysis of the key moments in China’s first two decades in the WTO, followed by practical suggestions on how to engage China more constructively in the WTO and beyond.

Joining A Currency Union To Improve Financial Development And Competitiveness: The Case Of Slovakia, Etsub Tekola Jemberu, Bruce Dehning

Accounting Faculty Articles and Research

Enhancing competitiveness is a priority for nations seeking to promote economic growth. One of the critical drivers of a nation’s sustainable competitiveness is financial system development. However, whether joining a currency union has a positive impact on a country’s financial system development requires further investigation. This study evaluates the impact of euro adoption on Slovakia’s financial system development using a synthetic control method with lasso regularization methodology. A comprehensive index that captures the depth, access, and efficiency of financial institutions and markets is used to measure financial system development. Based on a donor pool composed of non-euro OECD countries, the …

International Labour Migration, Farmland Fallowing, Livelihood Diversification And Technology Adoption In Nepal, Karki Nepal, Mani Nepal, Randall Bluffstone

Economics Faculty Publications and Presentations

This article investigates the effect of temporary international labour migration on farmland fallowing, adoption of agricultural intensification technologies and livelihood diversification. Using nationally representative data, combined with empirical methods that allow causal inference, the authors find that households with international migrants are over 50 per cent more likely (based on propensity score matching estimates) to have fallow land than those without. Temporary international migration promotes the adoption of some agricultural intensification technologies and causes rural households to diversify their livelihoods. Land fallowing may increase food insecurity, while agricultural intensification may improve it, for an uncertain net effect.

Anticipatory Impacts Of The Repeal Of Roe V. Wade On Female College Applicants, Janna Wisniewski, Brigham Walker, Jillian Torres, Rajiv Sharma

Economics Faculty Publications and Presentations

We examined the relative impact of the anticipated repeal of Roe v. Wade on the share of female applicants to universities in states where abortion was banned compared with universities in states where abortion remained legal. Using the Common Data Sets from 71 of the top 100 institutions in the United States spanning 27 states from academic years 2018–2022, we found that there was a nearly one percentage point relative decrease in the share of female undergraduate applicants to institutions in ban states compared with states in which abortion remained legal. This suggests that undergraduate applicants are sensitive to state …

The Matching Function And Nonlinear Business Cycles, Joshua Bernstein, Alexander W. Richter, Nathaniel A. Throckmorton

Arts & Sciences Articles

The Cobb-Douglas matching function is ubiquitous in labor search and matching models, even though it imposes a constant matching elasticity that is unlikely to hold empirically. To examine the implications of this discrepancy, this paper uses a general constant returns to scale matching function to derive conditions that show how the cyclicality of the matching elasticity affects the shape of the job finding rate as a function of productivity and amplifies or dampens nonlinear labor market dynamics. It then shows that modest variation in the matching elasticity, consistent with recent estimates, significantly affects higher order moments and optimal policy. This …

Costs Of Wind Erosion In The Northern Agricultural Region, Anne Bennett

Natural resources published reports

Summary

• To date, the Department of Primary Industries and Regional Development’s (DPIRD) estimated opportunity cost of wind erosion for Western Australia’s (WA) agricultural region has only included the costs of forgone production income and therefore underestimates the broader costs of wind erosion events.
• This underestimation of costs was the impetus to create a case study to give an indication of the magnitude of the costs of wind erosion from agricultural land.
• Farmers in the Northern Agricultural Region (NAR) were contacted to seek information about the on-farm costs of wind erosion events that occurred in 2020. Seventeen farmers responded to the …

Borderplex Business Barometer, Volume 7, Number12, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.