Social and Behavioral Sciences Commons^™

Examination Of Institutional Investment In The United States Of America From 1999 To 2018, Martin R. Lefebvre

Electronic Thesis and Dissertation Repository

This thesis examines the evolution of spatial preference of institutional investors located in the United States of America for the time period of 1999 to 2018 using a mix of exploratory data analysis techniques and more sophisticated space-time and machine learning techniques such as ESRI Space-Time cube and Latent Dirichlet Allocation topic modeling. This thesis concludes that despite having the appearance of a footloose industry due to almost negligible fixed costs, institutional investors are attracted to highly dynamic urban centres and on the 20 year time horizon, appear surprisingly sticky in their location preference. This is consistent with the belief …

Adding Data-Driven Modelling To Causal Inference And Financial Economics, Sha Wang

Electronic Thesis and Dissertation Repository

My thesis, which consists of three chapters, aims to either adapt ML to solve important questions in financial markets, or apply state-of-the art ML methodologies that specifically target on economic causal inference problems. The first chapter is adapted from a paper co-authored with Lars Stentoft and published on the Journal of Portfolio Management in 2019. We modified a ML model in order to develop a portfolio tracking strategy that solves a pain point for investors. Many investors try to replicate the performance of certain financial instrument, such as a hedge fund strategy return index for its desirable risk-return profile. However, …

Essays On Student Loans And Returns To Skill, Qian Liu

Electronic Thesis and Dissertation Repository

This thesis consists of three studies, which explore topics related to labor economics. Chapters 2 and 3 examine the returns on student loans and student loan repayment policy, respectively. Chapter 4 examines the returns to skill and the evolution of skills at older ages.

In Chapter 2 (co-authored with Lance Lochner), we study rates of return on government student loans in Canada using novel administrative data from the Canada Student Loans Program. We exploit rich information on personal characteristics, loan amounts, field of study, and institution of attendance to explain differences in rates of return across different types of borrowers. …

Essays On Share Repurchases And Boom-Bust Cycles, Bohan Li

Electronic Thesis and Dissertation Repository

My doctoral dissertation consists of three chapters on financial economics. In the first chapter, I examine whether a firm's share repurchases and issuances reveal information on its future 2-year stock returns. Firm-quarter observations with repurchases or issuances are each divided into twenty 5-percentile bins sorted by their magnitude. I regress 2-year future stock returns on the bins and find a non-linear relationship between the change in shares outstanding and returns. Firms making repurchases (issuances) of less than 9.3% (1.4%) of shares outstanding outperform the equal-weight portfolio by 6.4% (3.9%). These observations account for 90% of repurchases and 70% of issuances. …

Understanding The Determinants Of The Cost Of Coronary Artery Bypass Graft Surgery, Hun Lee

Electronic Thesis and Dissertation Repository

Introduction: The relationship between patient demographics, clinical factors, and cost of coronary artery bypass graft (CABG) is complex. Investigation of these relationships is important to aid clinical practice and inform reimbursement models. This thesis analyzes multiple different domains in order to understand the significant factors that impact the cost of CABG at the London Health Sciences Centre (LHSC).

Methods: Model selection, construction of nested descriptive models, exploration of mediation analysis of the impact of peri-operative factors and cost through length of stay, and construction of estimative models were performed.

Results: Several baseline characteristics, socio-demographics, peri-operative variables, and post-operative variables were …

The Impact Of Levodopa Administration On Learning From Short-Term And Long-Term Action Consequences: A Paradigm Validation., Masood Rezaei

Electronic Thesis and Dissertation Repository

Behavioral and neuroimaging studies have identified two valuation systems in the human brain for controlling behavior known as model-free (MF) and model-based (MB). MF is based on immediate evaluation and MB is based on long-term evaluation of the outcome of our decisions. Previous studies suggest that dopamine baseline activity may play an important role in the balance between the two systems and determine how they compete or interact in controlling our actions. The overarching aims of this study is to investigate the impact of levodopa administration on learning from immediate and long-term action consequences, and to dissociate the role of …

A Language Barrier To Human Capital Development: The Case Of Guatemalan Students, Fidel Pérez Macal

Electronic Thesis and Dissertation Repository

Not being proficient in a school’s predominant language of instruction can represent a language barrier for students’ human capital development. In Guatemala, 24 languages are spoken apart from Spanish, which is the language of instruction in the majority of schools, and about 40 percent of the total population has a non-Spanish language as a mother tongue. National standardized tests show that non-Spanish mother tongue (non-SMT) students are outperformed by SMT students in elementary and secondary schools.

My thesis analyzes whether non-SMT students face a language barrier and traces its source. Two main findings emerge. First, non-SMT students are not yet …

Characterizing The Value And Effect Of Perceptiveness In Various Game-Theoretic Settings, Terrence Adam Rooney

Electronic Thesis and Dissertation Repository

This thesis investigates the value and effect that perceptiveness has in three game-theoretic settings. I consider a player to be expert if they know the value of a particular payoff-relevant parameter in the models I study. If the player does not know such value, I consider the player to be inexpert. A player is perceptive if they know with certainty whether their opponent is expert. Otherwise, the player is imperceptive. The goal of this thesis is to provide insight regarding the potential value and effect that perceptiveness has in the game-theoretic settings I study.

The first model I …

Renewable-Energy Resources, Economic Growth And Their Causal Link, Yiyang Chen

Electronic Thesis and Dissertation Repository

This thesis examines the presence and strength of predictive causal relationship between re-newable energy prices and economic growth. We look for evidence by investigating the cases of Norway, New Zealand, and Canada’s two provinces of Alberta and Ontario. The usual vectorautoregressive model (VAR) and its various improved versions still assume constant parametersover time. We devise a Markov-switching VAR (MS-VAR) model in order to accommodate the observed time-dependent causal relation changes. Our proposed modelling approach is induced by the hidden Markov model methodologies in terms of an online parameter estimationthrough recursive filtering. The parameters of the MS-VAR model are governed by …

A Walkthrough Of The Canadian Video Game Industry: An Economic Geography Perspective On The Digital Entertainment Frontier, Grant L. Morin

Electronic Thesis and Dissertation Repository

The video game industry has been examined since the 1970’s, yet individual country analysis from an economic geography perspective has been lacking. It is the contribution of this dissertation to utilize the agglomeration economy and location theory literature in its application to the Canadian video game industry.

To understand this industry, a mixed-method approach is used. Kernel density maps, standard deviational ellipses, and mapping processes were used to illustrate the dispersion and clustering patterns of studios in Canada. In addition, a Poisson regression was performed using count data of the number of video game firms in census metropolitan areas. The …

Essays On Family Economics, Hyeongsuk Jin

Electronic Thesis and Dissertation Repository

This thesis studies decisions the family makes regarding household unions, fertility, and child investment. Chapter 2 studies the educational gradient in non-marital fertility and posits that cohabitation is a driver behind the gradient. I build a lifecycle model of fertility and household union choices, featuring a trade-off between quality and quantity of children. Using the model calibrated to the U.S. data, I study implications of introducing common-law marriage, where cohabiting parents are considered to be married couples. I find that the policy leads fewer people to choose cohabitation, and more children are born to married parents. As a result, children …

Essays On Housing Markets, Yuxi Yao

Electronic Thesis and Dissertation Repository

Housing assets have long been the most important assets in household portfolios. Therefore, understanding the long-run trends of the key indicators in the housing market is important for understanding household housing tenure choice and asset allocation, evaluating household welfare, and analyzing financial stability. My thesis consists of three chapters accounting for the changes in homeownership rates, cross-city distribution of prices and rents, and aggregate housing prices in the United States for the past several decades.

Chapter 2 focuses on the decline in the homeownership rate among young households since 1980. I find that while some of the college graduates merely …

Relaxing The Rational Expectations Assumption: Data-Based And Model-Based Approaches, Yifan Gong

Electronic Thesis and Dissertation Repository

The fundamental importance of beliefs about future outcomes in decision-making suggests that an accurate characterization of these beliefs is important for understanding individuals' behavior and for evaluating the counterfactuals typically needed for policy analysis. Traditionally, many researchers have been using some form of Rational Expectations (RE) assumptions to characterize these beliefs. However, empirical evidence suggests that the RE assumption might not hold in many contexts, and that incorrectly imposing the RE assumption can lead to biased policy predictions. Motivated by these findings, I explore alternative approaches to conducting economic analysis without imposing the RE assumption.

Chapters 2 and 3 of …

Essays On Criminal Behaviour, Human Capital Formation, And Mental Health, Diego F. Salazar

Electronic Thesis and Dissertation Repository

My thesis consists of three chapters that contribute to the study of some of the negative consequences of incarceration and their relation with the life-cycle choices of juvenile offenders.

Chapter 2 studies the causal relationship between incarceration and mental health problems. In this chapter, I use different matching estimators to identify the causal effects of incarceration over several dimensions of mental health using data from a survey of juvenile offenders, the Pathways to Desistance (PTD) survey. My findings show that being incarcerated for the first time, between 17 and 18 years old, increases depression by at least 0.18 standard deviations …