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Full-Text Articles in Social and Behavioral Sciences
A Statistical Analysis Of Economic Perceptions In The 2015 United Kingdom General Election, Amarvir Singh-Bal Mr.
A Statistical Analysis Of Economic Perceptions In The 2015 United Kingdom General Election, Amarvir Singh-Bal Mr.
Undergraduate Economic Review
This paper characterises the vote which took place in the United Kingdom's (U.K.) 2015 General Election as an ‘accountability instrument.’ In doing so, the research interrogates which sections of the electorate hold the incumbent government more accountable for economic outcomes between the 2010 and 2015 U.K. General Elections. The Rational Choice Theory and the Michigan Model are used in this study to present two interlinked, and yet distinct, hypotheses – that less politically informed and non-partisan voters are more likely to hold the government accountable for economic performances; compared to the politically informed and partisan voters within the electorate. Implementing …
The Value Of Green Certification On Single-Family Houses In The Chicagoland Area, Raymond Bolton
The Value Of Green Certification On Single-Family Houses In The Chicagoland Area, Raymond Bolton
Honors Projects
In the United States, residential buildings alone account for 33% of energy consumption. Rising concerns about environmental impacts due to human consumption, as well as health concerns related to pollution have caused a higher demand for environmentally conscious houses. Homebuilders have responded by providing green certifications for houses, attesting to a building’s efficiency in various aspects, such as site design and energy and water consumption. Using Multiple Listing Services real estate data on zero- to five-year-old houses sold between 2010 and 2017 in the Chicagoland area, this study examines whether there is a price premium associated with qualifying for green …
The Perceived Return On College Investment In Relation To Economic Expectations Of Students At The University Of Maryland, Joshua S. Roston
The Perceived Return On College Investment In Relation To Economic Expectations Of Students At The University Of Maryland, Joshua S. Roston
Undergraduate Economic Review
This paper presents the results of a survey conducted in the spring semester of 2017 of University of Maryland students. The results illustrate how University of Maryland students weigh the decision to attend college in terms of their perceived current economic situation and future expectations as well as predicted return on investment. A body of economic literature on the perception of return on investment from attending college exists already and this study hopes to add to the discussion as its results are unexpected. The results imply that the current generation of college students feels uncertain over the worthwhileness of higher …
Take Me Out To The Ball Game? The Effect Of Crime On Major League Baseball Game Attendance, Allison Jakubek
Take Me Out To The Ball Game? The Effect Of Crime On Major League Baseball Game Attendance, Allison Jakubek
Undergraduate Economic Review
Major League Baseball attendance has been examined since the league’s establishment in 1869. Winning percentage, opponent quality, and stadium quality have all been deemed significant determinants of increasing attendance, but deterring factors have yet to be closely examined. Since a majority of professional sports stadiums are constructed in economically poor, crime ridden areas, it seems natural to assume that crime could have an impact on people’s desire to attend Major League Baseball games. Panel data collected on twenty-eight teams over the course of ten years was used to determine whether or not crime rates have a significant effect on attendance.
The Payoff Of A Healthy Lifestyle While In College, Richard D. Angeletti Iii
The Payoff Of A Healthy Lifestyle While In College, Richard D. Angeletti Iii
Undergraduate Economic Review
This study analyzes the effect that an individual’s body mass index (BMI) has on their hourly compensation in their next job directly following attainment of their bachelor degree. This study uses the National Longitudinal Survey of Youth that started in 1997. This study aligned all the survey participants’ timeline of life events to be coordinated in such a way that bachelor degree attainment, regardless of year, is the common reference point. Sufficient observation of bachelor degree receipts was found in the year 2001 through 2007 resulting in a pooled data set across seven years. This study hypothesizes that individuals with …
Displacement In D.C.: A Case Study Of Gentrification And Granger-Causality In Our Nation's Capitol, Will Lawrence
Displacement In D.C.: A Case Study Of Gentrification And Granger-Causality In Our Nation's Capitol, Will Lawrence
Honors Projects
This study looks at the causal forces behind the social relocation phenomenon known as gentrification. Location theory posits that ever increasing commute times coupled with falling crime rates in the city-center incentivize the high-income population to move from the suburbs to the city, driving up housing prices and displacing the low-income, original residents who live in the city. This paper applies location theory to Washington, D.C. in an attempt to explain the ongoing gentrification process through the displacement of original residents. City-wide data at the neighborhood level for housing prices and crime rates are analyzed to explore the causal relationships …
Returns From Self-Employment: Using Human Capital Theory To Compare U.S. Natives And Immigrants, Nikola Popovic
Returns From Self-Employment: Using Human Capital Theory To Compare U.S. Natives And Immigrants, Nikola Popovic
Undergraduate Economic Review
The focus of this paper is to examine the economic returns from self-employment when comparing natives and immigrants. I hypothesize that returns from self-employment will increase with age and education, and that immigrants from China, India, and the Philippines will have higher returns while immigrants from Mexico will have lower returns than natives. I also hypothesize that immigrants with high levels of education will earn more than natives with the same amount of education. The OLS regressions show that human capital variables explain the differences in self-employed income between natives and immigrants, as the literature suggests.
Interest Rate Policy In China: The Impact Of Suppressed Deposit Rates On Household Income From 2000-2007, Zhuliang James Zhang
Interest Rate Policy In China: The Impact Of Suppressed Deposit Rates On Household Income From 2000-2007, Zhuliang James Zhang
Undergraduate Economic Review
An often-overlooked impact of China’s policy of maintaining low interest has been the suppression of household interest income, which has increased the propensity of households to save while decreasing their consumption rates. This paper posits that from 2000 to 2007, deposit rates in China were suppressed annually by around 720 basis points, imposing an implicit tax on annual per-capita income of 12.8% on average. Raising deposit rates will increase household income and boost consumption in the medium-term if the Chinese government is able to initiate policy shifts that distribute the gains of economic growth more equitably to households. Research advised …
Economic Freedom And Fiscal Performance: A Regression Analysis Of Indices Of Economic Freedom On Per Capita Gdp, Jason R. Ockey
Economic Freedom And Fiscal Performance: A Regression Analysis Of Indices Of Economic Freedom On Per Capita Gdp, Jason R. Ockey
Undergraduate Economic Review
This paper explores whether different forms of economic freedom drive fiscal performance. We also seek to determine which specific measurements of economic freedom have the most statistically significant impacts. Though the results of our analysis show that economic freedom does impact levels of per capita GDP, the interpretation of these results is more complicated. Because some indices of economic freedom have negative effects on per capita GDP or are statistically insignificant, it is important to note that simply generally increasing a country’s overall level of economic freedom will not necessarily spur economic growth or increase fiscal performance. This paper does …
Predicting Community College Tuition And Enrollments And Simulating The Initial Effects Of President Obama's American Graduation Initiative, Allison Frederick
Predicting Community College Tuition And Enrollments And Simulating The Initial Effects Of President Obama's American Graduation Initiative, Allison Frederick
Undergraduate Economic Review
This paper will identify the effects of supply and demand side factors on community college enrollment quantities and tuition prices and predict the initial effects of President Obama’s American Graduation Initiative. This bill proposes $12 billion of government spending, through grants and financial aid, in order to increase the number of community college graduates by 5 million over the next ten years. Limitations regarding the endogeneity of government appropriations prevents the forecasting of government funding increases; however, the model predicts that financial aid increases from the American Graduation Initiative will increase community college enrollments by over half a million.
The Role Of Entrepreneurship In Economic Growth, Daniel Smith
The Role Of Entrepreneurship In Economic Growth, Daniel Smith
Undergraduate Economic Review
This study confirms that the level of entrepreneurship in a given country has a significant positive effect on the level of economic growth in that country. Contrary to some established theories, this study has found evidence that the level of entrepreneurship in a given country is not explained by the levels of the traditional causes of economic growth in that country (specifically the amounts of labor, capital, and knowledge that a country possesses as well as the presence or absence of market friendly government policies). Instead, entrepreneurship acts as an independent factor.
Determinants Of Bank Profitability In Ukraine, Antonina Davydenko
Determinants Of Bank Profitability In Ukraine, Antonina Davydenko
Undergraduate Economic Review
The Ukrainian banking system exhibits low profitability compared to other transitional countries in the region. This study examines the determinants of bank profitability in Ukraine. It relates bank specific, industry specific and macroeconomic indicators to the overall profitability of Ukrainian banks. The study uses a panel of individual banks’ financial statements from 2005 to 2009. According to the empirical results, Ukrainian banks suffer from low quality of loans and do not manage to extract considerable profits from the growing volume of deposits. Despite low profits from the core banking activities Ukrainian banks manage benefit from exchange rate depreciation. This study …
Theories Of Gold Price Movements: Common Wisdom Or Myths?, Fan Fei, Kelechi Adibe
Theories Of Gold Price Movements: Common Wisdom Or Myths?, Fan Fei, Kelechi Adibe
Undergraduate Economic Review
This paper examines several of the explanations commonly provided regarding gold and its price movements. We consider the safe haven, inflation hedge, and dollar destruction hypotheses. The results are mixed. Our data does not support the theories that gold is a safe haven or an inflation hedge. We find that gold is a zero-beta asset and there is a strong negative correlation between gold and the value of the US dollar in the post Bretton-Woods era. The decomposition of gold prices under a semi-structural model finds the aggregate demand shock, monetary policy shock, and precautionary demand shock of gold all …
Building A Meritocracy: The American Precedent For Wealth Redistribution, Micah D. Bobo
Building A Meritocracy: The American Precedent For Wealth Redistribution, Micah D. Bobo
Undergraduate Economic Review
This work investigates the use of wealth redistribution mechanisms in establishing and promoting meritocratic practices in early United States history. From the fifteenth to eighteenth century, the reward system used in exploration, colonization incentives, and land redistribution techniques are examined. During the eighteenth and nineteenth century, the effects of industrialization and education on social mobility are reviewed. Finally, the social and economic factors resulting in southern secession, particularly slavery, are examined. While the concept may be unpopular in modern society, wealth redistribution mechanisms were essential to cultivating merit-based social mobility and overall societal stability throughout the period covered.
High School Graduation Rates In The Metro-Detroit Area: What Really Affects Public Secondary Education, Thomas A. Wilk
High School Graduation Rates In The Metro-Detroit Area: What Really Affects Public Secondary Education, Thomas A. Wilk
Undergraduate Economic Review
Education is essential to the future productivity of workers in the Metropolitan Detroit area, so determining what impacts high school graduation is vital to predicting the future success of our economy. This research investigates what key aspects in our society affect the high school graduation rate: poverty level, violent crime rate, student body, class size, local school taxes, and standardized test scores. Results from multiple regressions using school district and city data from the CCD and FBI suggest that poverty levels and violent crime in the Metro Detroit area significantly, negatively influence high school graduation rates. Reforms to public policy …
An Analysis Of The Impact Of Team Payroll On Regular Season And Postseason Success In Major League Baseball, Noah L. Schwartz, Jason M. Zarrow
An Analysis Of The Impact Of Team Payroll On Regular Season And Postseason Success In Major League Baseball, Noah L. Schwartz, Jason M. Zarrow
Undergraduate Economic Review
Major League Baseball, like other American professional sports, has become a multibillion dollar industry. The institution of free agency has led to the escalation of payrolls and altered the make-up of rosters by dramatically reducing owners’ monopsony power. The ability of large market clubs such as the New York Yankees to compete continually for the game’s greatest prize illustrates the power of the dollar. This paper examines four distinct periods from 1977 to 2008 in order to assess the influence of pecuniary advantages on regular season and postseason outcomes. Payroll exerts great influence in the regular season, but not in …
The Effect Of Changes In The Federal Funds Rate On Stock Markets: A Sector-Wise Analysis, Kunaey Garg
The Effect Of Changes In The Federal Funds Rate On Stock Markets: A Sector-Wise Analysis, Kunaey Garg
Undergraduate Economic Review
The federal funds rate is an indicator of monetary policy that investors in the stock market scrutinize very closely. This paper determines the relationship between changes in the federal funds rate and sector stock indexes. The paper goes on to determine why particular sectors are more sensitive to interest rate changes than others. Weekly returns of the Dow Jones ICB classified financial, energy, utilities, materials, industrials, consumer goods, consumer services, information technology, healthcare and telecommunications sectors are analyzed using separate OLS regression models for each sector. The results show that the utilities, financials, telecom and basic materials sectors are the …
Nafta Toward A Common Currency: An Economic Feasibility Study, Kelly Hugger
Nafta Toward A Common Currency: An Economic Feasibility Study, Kelly Hugger
Undergraduate Economic Review
The recent emergence of the Euro, combined with the completion of a decade of North American Free Trade Agreement (NAFTA) has sparked interest in adopting a common currency for North America. This study examines the likelihood that Canada, Mexico, and the United States will adopt a common currency under fixed exchange rate regimes. The benefits and costs of a common currency are explored using the theory of optimum currency areas (OCA). Empirical research focuses on several variables including intra-regional and intra-industry trade, trade openness, gross domestic product, inflation rates, interest rates, economic growth rates, business cycle synchronization, factor mobility, fiscal …
The Extended Heckscher-Ohlin Model: Patterns Of Trade Between The U.S. And China, Mark Clements
The Extended Heckscher-Ohlin Model: Patterns Of Trade Between The U.S. And China, Mark Clements
Undergraduate Economic Review
Though there have been many attempts to extend the Heckscher-Ohlin model in order to account for empirical data, I intend to examine John Romalis’ model of factor proportions and commodity structure. The purpose of this paper is to examine Romalis’ model to see if it is supported by empirical data on trade between China and the United States. In order to do this, I will use data from the 2000 and 2005 U.S. Census trade data CD-ROM to determine if Romalis’ extended Hecksher-Ohlin model of international trade can explain the U.S.-China pattern of trade.
Is Selling Sex Good Business? : Prostitution In Nineteenth Century New York City, Ida Bastiaens
Is Selling Sex Good Business? : Prostitution In Nineteenth Century New York City, Ida Bastiaens
Undergraduate Economic Review
This study examines the impact of red light districts on the New York City’s land values for the years 1867 to 1870 using the monocentric model and bid-rent function as the foundation for the analysis. The results suggest that the Tenderloin red light district is a positive amenity, while the Bleecker and Washington Square red light district is a disamenity. The history of prostitution in New York City provides valuable insight into causes for the differences in the marginal impacts of prostitution on Manhattan’s urban environment. In the end, despite prostitution’s ongoing profitability well into the twentieth century, the strong …