Digital Commons Network^™

Tax Preferences: A Numerical Exercise, Isaac Babatunde Olatunji

Major Papers

Tax preference focuses on individuals' perception and choice regarding specific tax policies or structure. It examines the extent to which individuals favor certain tax provisions, rates, or exemptions over others. Scholars and researchers have extensively examined tax preference from various perspectives. I performed a numerical exercise on one agent model and two agent model where agents have preferences over consumption, labor supply and tax preferences (dislike of the labor income tax). Under the one agent model there exist one household utility maximization problem and under the two agent model there exist two households with low productive ability and high productive …

The Downplayed Debt Attributes Of Bnpl: A Thematic Content Analysis Of Tiktok, Hongwei Ma

Major Papers

This research employs Thematic Content Analysis (TCA) to examine the downplayed debt attributes of Buy Now Pay Later (BNPL) services, focusing specifically on the contrast between official narratives and critical discourse on TikTok. The study investigates how BNPL companies in North America employ promotional strategies on their official websites and in press conferences to downplay the debt aspect of their services. It further explores the role of TikTok as a platform for public discourse that challenges these dominant narratives surrounding BNPL debt attributes and breaks knowledge hegemony. By analyzing samples from BNPL service providers' websites and press conferences, the study …

The Unique Challenges Of The Carbon Offsetting And Reduction Scheme For International Aviation (Corsia), Olajumoke Abisola Rosemary Oginni

Major Papers

Air transportation is a particularly contentious issue in climate disputes. This concern is because they emit emissions like those produced by the combustion of fossil fuels. Consequently, the aviation industry is recognized as one of the top ten emitters in the world, with emissions expected to soar. As the emissions from the industry begin to rise, the increase raises serious environmental concerns about its global impact and influence on people on the ground. When non-CO2 effects are excluded, aviation emissions began to account for 2.1% of global emissions, leading the aviation industry, national governments, civil society, and international organizations to …

The Tax Effects Of Intergenerational Transfers: A Quantitative Exercise., Belinda Ewuraadwoa Arhin Boateng

Major Papers

Economists predict transfer of wealth from one generation to the next due to increased global wealth. This transfer of wealth is predicted to widen already existing poverty gaps in some economies. Some economists have suggested the taxation of intergenerational transfers in a bid to increase government revenue and reduce the widening gaps between the poor and the rich. This study captures the key mechanisms at work in assessing the labour earnings reaction to changes in unearned income, emanating from gifts and bequests that heirs receive. Three theoretical models are developed to understand the labor earnings reaction with varying unearned income …

The Effect Of Quantitative Easing On The Financial Market In Canada, Ashiqur Rahman

Major Papers

This empirical study examines the effects of quantitative easing (QE) on the Canadian financial market. Specifically, the study focuses on the Bank of Canada's Government of Canada Bond Purchase Program (GBPP), conducted during COVID-19 between 2020 and 2022. I use two analytical methods, e.g., event study and time series analysis, to quantify the impact of the Bank of Canada's large asset purchases on the 10-year government bond yield's term premium. The results indicate that the Bank of Canada's $260 billion asset purchases in 2020 would reduce the 10-year term premium by 34 basis points, which suggests the significant impact of …

Cuban Embargo: An Insufficient Measure To Encourage Us Foreign Policy Interests, Esme Jm Prowse

Major Papers

This major paper examines the Cuban embargo as an ineffective hard power policy and explores the potential of soft, hard, and smart power as alternative approaches to resolve the failures of the 60-year-old blockade. The paper analyzes the historical context and rationale behind the embargo and assesses its impact on Cuban-American relations, regional stability, and U.S. national interests. The study argues that the embargo has failed to achieve its intended goals and has instead perpetuated a cycle of hostility, isolation, and human rights abuses. By drawing on the theoretical frameworks of soft, hard, and smart power, the paper presents policy …

To Be Or Not To Be: The Relationship Between Economic Diversity And Unemployment Rates In Canadian Cities During The Covid-19 Induced Shock, Yahaya Alphonse

Major Papers

Regional scholars have broadly studied the role of economic structure in shielding a community from economic shocks. This research has generally involved comparing diversity against specialization. This study compares differences within varying degrees of economic diversity in Canadian cities. Canada has received very little attention in this field despite the importance this knowledge could provide in shaping Canadian economic policy. This paper aims to fill in this gap by analyzing the role economic diversity played in acting as a structural buffer to the COVID-19-induced economic shock. This analysis is done utilizing a Herfindahl Hirschman Index to measure economic diversity and …

Determinants Of The Withdrawal Of Foreign-Invested Enterprises: Evidence From China, Zhihao Wang

Major Papers

Based on the industry and commerce annual report data, the present study uses the continuous-time nonparametric, parametric, and semi-parametric estimation to investigate the determinants influencing the withdrawal behaviour of foreign-invested enterprises. Through the survival analysis of 3,858 foreign-invested enterprises located in China from 2013 to 2020, the study found that operation profit, enterprise size and enterprise age have significantly negative impacts on the probability of enterprise withdrawal. At the industry-level and region-level, the improvement of industry entry rate and regional business environment ranking can significantly increase the probability of enterprise survival. The rise of the regional GDP growth rate and …

A Critical Analysis Of The Media Representations Of Venezuelan Immigrants, Refugees, And Asylum-Seekers (Venezuelan Iras) In Peru, Emily G. Espinoza-Lewis

Major Papers

The Venezuelan migration phenomenon is currently the second-largest external displacement crisis worldwide. As the number of Venezuelans leaving their country has risen, migration policies in Latin American countries have become more restrictive. In Peru, the second-largest recipient of Venezuelans and the largest host of Venezuelan asylum-seekers worldwide, the securitization of migration policies started in August 2018 with a passport requirement for Venezuelans, and intensified in June 2019 with another, yet virtually unreachable requirement: the Humanitarian Visa. Utilizing media-framing theory and Critical Discourse Analysis (CDA), this study analyzed the media discourse built by El Comercio newspaper between April 1 and June …

Application Of Garch Type Models In Forecasting Value At Risk, Katayoon Naimian

Major Papers

Dynamic risk management requires the risk measures to adapt to information at different times, such that this dynamic framework takes into account the time consistency of risk measures interrelated at different times. The value-at-risk (VaR) is one of the most well-known downside risk measures due to its intuitive meaning and a broad range of applications in practice, however, the static version embraces more popularity. This study investigates dynamic VaR modeling using four conditional volatility forecasting models: GARCH, TGARCH, GJRGARCH, and IGARCH, and compares the forecasting output of the suggested GARCH-based volatility models. Since the predictive accuracy of Value-at-Risk (VaR) models …

A Warmer, Green Golden Rule, Kyle James Stuart

Major Papers

The goal of this paper is to analyse the impact of temperature changes on the green golden rule. The green golden rule is the maximization of consumer utility based on consumer preference between consumption and environmental stock. The trade-off between environmental stock and consumption which is found to be negative. With temperature change being very prevalent in our era, we look at temperature change in the form of a damage function. By looking at both an increasing and decreasing damage function, along with changing variables in the green golden rule, we see that when the average global temperature deviates from …

Economic Growth And Water Pollution In The Circum-Bohai-Sea Zone In China - An Environmental Kuznets Curve Analysis, Ziqi Yang

Major Papers

Based on the principle and model of Environmental Kuznets Curve (EKC), the present paper examines the relationship between water pollution and economic growth in the Circum-Bohai-Sea Zone of Beijing, Tianjin, Hebei Province, Shandong Province, and Liaoning Province with the annual time series data for 2003 to 2017. By analyzing the industrial, household, and total wastewater discharge separately as the measurement of water pollution, the results are consistent with the EKC model. In particular, according to econometric analysis, the variables of economic growth and per capita GDP are statistically significant in domestic and total wastewater discharge cases. However, the association of …

Temperature Anomalies In A Simple Overlapping Generations Model, Chizua Mesigo

Major Papers

The main aim of the paper is to examine the impact of temperature anomaly in an overlapping generations (OLG) model. The rise in temperature captured by the damage function has a direct effect on production. As temperature rises above the pre-industrial level, output and capital accumulation decline, making representative agent worse o as the lifetime utility declines. The result of the analysis predicts that a temperature anomaly of 2:5°C requires a consumption equivalent of 1.04 percent of GDP. The model further shows that the more dependent an economy is on capital, the more significant the losses will be as temperature …

A Review Of Emission Trading Systems, Aaron Matthew Gorski

Major Papers

This paper serves as a review of emission trading systems as a means to achieve reductions in the level of greenhouse gas emissions and other pollutants around the world. The review begins with the history of emission trading, beginning with early theoretical frameworks developed by economists in the 1960s and 1970s, followed by early implementations of permit markets similar to modern day emission trading systems. International negotiations related to emission reductions such as the Kyoto Protocol and Paris Agreement are discussed. Next, the economic mechanisms of emission trading systems are discussed, including a brief comparison to carbon taxes as an …

Economic Effects Of Solar Activity: Evidence From Canada, Zichun Zhao

Major Papers

This papers uses a three-sector Real Business Cycle model with a stochastic sunspot volatility shock to estimate the adverse effects of intense solar activity to the economy of Canada. To the best of my knowledge this is the first study to measure the adverse effects of intense solar activity in Canada. Calibrating the model for Canada's economy, I found that a solar activity shock leads to lower output, consumption, and investment. These findings are confirmed from an econometric exercise using Canadian data. Precisely, this paper finds that every percentage point increase in solar activity generates a 0.26 percentage point decrease …

Rethinking Retirement For The 21st Century, Stephen C. Russo

Major Papers

Canada’s labour force has been gradually growing older in recent decades. An aging labour force creates significant problems for the country and the future growth of our economy. With an aging labour force, comes the need to start rethinking how Canadians look at retirement in the 21^st century and how both the government and private sector can contribute solutions to adapting to an older workforce. This problem is not unique to Canada, most of the industrialized west has been or will begin to experience the same demographic shift as we are in Canada. The main challenge this paper examines …

Lifestyle And Obesity In Canada-A Quantile Regression Approach, Khandoker Monjure Kabir

Major Papers

Objective: This study examines the relationship between BMI and some life-style variables, socio-economic status (SES) variables, and some socio-demographic variables related to behavior of individuals along different points of the BMI distribution by using quantile regression. Methods: A representative sample of 34,225 individuals of Canada form the Canadian Community Health survey 2014 is selected to conduct this study. Ordinary least squares (OLS) method is used at first to differentiate the results between conditional mean framework and conditional quantile framework. Quantile regression is estimated to analyze the heterogeneous relationship among fruits and vegetables, physical activity and BMI. Results: …

Oil Prices And Economic Growth: Cases Of Canada And Usa, Seth Kwei Etsibah-Tackie

Major Papers

The effects of oil prices on economies has been subjected to a lot of scrutiny since the 1960’s. This study conducts an analysis of the impact of oil price shocks on two oil exporting nations, Canada and USA. The transmission mechanisms of oil price changes to any economy vary from the supply effect to the demand effect. High crude oil prices impact the Canadian economy and USA through a variety of channels, in both positive and negative ways. Ceteris paribus more revenue is made when oil prices increase. In this study, I run an ordinary least square estimation with time …

Green Behaviors In The Laboratory, Environmental Donations In The Field, Taberah Michelle D Couto

Major Papers

Behavior within an experiment is generally explained by either a pure profit motive or a response to the context of the experiment which is likely driven by different factors such as individuals' environmental friendliness. Are participants in laboratory experiments responding to the context of the experimental setting and not merely to a profit motive? Using a preliminary analysis, I draw evidence from data collected in a two-stage laboratory experiment designed and conducted by Palm-Forster et al. (In Press) at the University of Delaware. In the first stage of the experiment, participants performed a series of tasks concerning their tradeoffs between …

Election Cycles And The Allocation Of Foreign Aid, Darren Michael James Larue

Major Papers

In this study, I explore the political budget cycle effect on foreign aid spending on the extensive and intensive margins. I find evidence to support the statement that foreign aid is not neutral to the existence of elections but is in fact manipulated by the incumbent government one year before an election. This study is an improvement from the recent literature in two distinct ways. First, I explore the overall election cycle effect for the different sub-categories of official development assistance (ODA): debt relief, infrastructure, humanitarian aid, multi-sector aid, production aid, program aid, and social infrastructure aid. Second, I …

The Economic Impact Of The University Of Windsor On The Tri-County Region Through Education, Christian James George

Major Papers

We improve upon the groundwork that began with “The Economic Impact of the

University of Windsor on the Tri-County Region” by Tselmuun Tserenkhuu (2017). We

quantify the economic impact of education, measured by the aggregate income differential

of graduates of the University of Windsor who have stayed within the tri-county region and

found employment and those who graduate from the local college. Using data provided by

the University of Windsor, Leddy Library and tri-county census data, we estimate (1)

number of graduates the university has produced each year, (2) fraction of graduates who

remain in the tri-county region, (3) fraction …

Usage-Based Insurance Or The Implications Of Taking Big Brother For A Ride, Devina Lakhtakia

Major Papers

The use of telematics in the automobile industry has been growing recently to resolve the problem of asymmetric information in the insurance market related to the identification of the type of a driver. This paper aims to study the impact of the introduction of usage-based insurance on the market participants taking into account the privacy costs associated with the installation of such a behaviour-monitoring device. We assume that UBI is offered as part of the contract to the agents and is voluntary to install. Our findings suggest that no matter how highly an agent values her privacy, there will always …

Economic Analysis Of An Emerging-Economy Stock Market:The Case Of The Shanghai Stock Exchange, Minxu Yang

Major Papers

The objective of this study is three-fold. First, this study investigates the applicability of the Capital Asset Pricing Model (CAPM) to the Shanghai Stock Exchange (SSE). This study provides the latest estimates for the firm-level and portfolio betas for 1,406 companies in the SSE. Using a simplified method to estimate the portfolio betas, this study finds that the CAPM is applicable for the case of the SSE. Second, this study also finds that international macroeconomic movements captured by GDP growth, exchange rates, and stock market indices in other major markets significantly explain the stock prices for companies listed in the …