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Articles 1 - 30 of 77
Full-Text Articles in Social and Behavioral Sciences
The Gettysburg Economic Review, Volume 12, Spring 2023
The Gettysburg Economic Review, Volume 12, Spring 2023
Gettysburg Economic Review
No abstract provided.
Up In Smoke: Wildfires And Economic Growth, Nicholas Silvis
Up In Smoke: Wildfires And Economic Growth, Nicholas Silvis
Gettysburg Economic Review
Do wildfires have a causal effect on economic development? Using satellite data, I analyze every country's exposure to wildfire exposure from 1982-2018. I use synthetic controls to model the impact of wildfire exposure on GDP per capita having controlled for population density, trade, agriculture, Foreign Direct Investment (FDI), and polity score. I find that the impacts of wildfires are fairly localized, impacting parts of Africa that both experience high numbers of wildfires and are developing.
The Effect Of Remote Work On Firm Level Productivity, Katherine Fullowan
The Effect Of Remote Work On Firm Level Productivity, Katherine Fullowan
Gettysburg Economic Review
This paper investigates the impact of remote work on firm-level productivity. To observe this trend, we develop a theoretical model to understand how an economy performs. We consider the economy as a collection of firms in an attempt to maximize profit. By observing a firms profit function, we are able to derive their productivity by maximizing a representative firm’s profit function. For simplicity purposes, this study treats labor as the only factor of production to focus solely on how changes in the number of remote workers impact productivity. We ultimately find that productivity increases when the number of remote workers …
Educational Attainment: An Analysis Of Teenage Parenthood And Dropout Prevention Programs, Megan Mccook
Educational Attainment: An Analysis Of Teenage Parenthood And Dropout Prevention Programs, Megan Mccook
Gettysburg Economic Review
This paper explores how teenage parenthood affects students’ high school education attainment, and evaluates the effectiveness of dropout prevention programs that offer on-site childcare. I use data from the High School Longitudinal Study (2009), collected by the National Center for Educational Statistics through the US Department of Education. These data combine survey responses from students, their parents, and school staff. Using school fixed effects and instrumental variable estimation I evaluate the impact of teenage parenthood on the probability of dropout. Female students with a child have, on average, 13.8 percentage points higher likelihood of dropping out of high school. The …
Intrinsic Unrealism: The Ineffectiveness Of Neoclassical Economic Models, Robert N. Meyer
Intrinsic Unrealism: The Ineffectiveness Of Neoclassical Economic Models, Robert N. Meyer
Gettysburg Economic Review
The idea of equilibrium and the usefulness of the neoclassical models that employ it are questionable due to the unrealistic built-in assumptions that they utilize, which have androcentric biases and fail to consider the open-endedness of human choice. This essay will replace the idea that neoclassical economic models are effective and that realism does not matter in the field of economics. It will rely on historical and contemporary sources in the areas of Philosophy, Sociology, Politics, and of course, Economics to explain why these unrealistic and androcentric assumptions nullify the usefulness of the neoclassical models that employ them. The essay …
Impact Of Charging Infrastructure On Electric Vehicle Sales: An Analysis From Counties In 13 Us States, Shubh N. Parekh
Impact Of Charging Infrastructure On Electric Vehicle Sales: An Analysis From Counties In 13 Us States, Shubh N. Parekh
Gettysburg Economic Review
Adoption of battery electric vehicles (BEVs), and plug-in hybrid electric vehicles (PHEVs), has become a priority for the government because of the constant threat of climate change. Over the years, government monetary incentives like tax credits, tax rebates, and other monetary subsidies are the leading way to increase electric vehicle sales in the United States. While these incentives are necessary to combat the high costs of electric vehicles (EVs), there hasn’t been too much attention given to combat range anxiety. Since EVs are run on lithium-ion batteries, there is a limited range for different EVs, with the maximum being around …
Allocating In The Presence Of Dominance: A Mean-Variance Portfolio Choice Economic Experiment, Jack Gardner
Allocating In The Presence Of Dominance: A Mean-Variance Portfolio Choice Economic Experiment, Jack Gardner
Gettysburg Economic Review
I conduct a mean-variance portfolio choice economic experiment to evaluate how individuals’ portfolio choices deviate from what modern portfolio theory considers optimal. The experimental framework is comprised of three treatments. In each treatment the portfolio selection task involves choosing between two risky assets with zero correlation among their payoffs and one risk free asset. Participants are tasked with completing thirty choice rounds in which they must allocate a constant experimental capital amount to the available asset options after which they are shown period-by-period state-realizations. I utilize the definition of dominance as described in Neugebauer (2004), and Baltussen and Post (2011), …
The Gettysburg Economic Review, Volume 11, Spring 2019
The Gettysburg Economic Review, Volume 11, Spring 2019
Gettysburg Economic Review
No abstract provided.
Are Price-Earnings Ratios Mean Reverting? An Empirical Study, Kevin Klassen
Are Price-Earnings Ratios Mean Reverting? An Empirical Study, Kevin Klassen
Gettysburg Economic Review
Mean reversion in stock prices is a highly studied area in the financial literature with controversial findings. While some economists have found evidence of mean reverting processes in stock prices, many argue in favor of the Efficient Market Hypothesis which states stock prices are random walk processes. This paper seeks to add to the literature on mean reversion but testing for evidence in price-earnings ratios rather than stock prices. The study employs a robust regression model controlling for company-specific and general market factors that influence price-earnings ratio deviations. After correcting for heteroskedasticity, serial correlation, and unit root processes, the results …
Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann
Blockchain Technology - China's Bid To High Long-Run Growth, Tyler J. Mann
Gettysburg Economic Review
Despite having the second largest economy at $13 trillion, China has only recently surpassed the World Bank’s definition of the ‘middle-income range’ which is a gross national income per capita between $1,000 to $12,000 (constant 2011 international $). This is a noteworthy accomplishment since many other developing nations have fallen victim to economic stagnation within this range leading to the term “middle-income trap”. This paper will argue that one of the ways in which China escaped the middle-income trap and will continue to grow its economic influence is through the support of blockchain technology. Research and development, early technological adoption …
The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali
The Effect Of Fiscal Transparency On Output, Inflation, And Government Debt, Luce Menicali
Gettysburg Economic Review
This theoretical paper studies the issue of fiscal transparency, which we define as asymmetry of information between the households’ perception of fiscal policy and the actual government balance sheet, in the context of a 24-hour news cycle. We model the economy using the New Keynesian three-equation model to study the effect of fiscal transparency on output, inflation, and especially government debt in order to draw conclusions that are relevant in the realm of policy-making in a sovereign debt crisis scenario. We find that a higher degree of fiscal transparency leads to greater levels of output and inflation as well as …
Unsustainable Sustainability: Do Policies That Increase Environmental Quality Exacerbate Income Inequality?, Haley K. Skinner
Unsustainable Sustainability: Do Policies That Increase Environmental Quality Exacerbate Income Inequality?, Haley K. Skinner
Gettysburg Economic Review
International pressure to meet climate and sustainability goals are mounting. Countries attempting to industrialize in the age of sustainability are tasked with industrializing using low-carbon practices. The transition to a “green” economy requires elimination of some jobs and skillsets that may upset social equality. This paper empirically examines the hypothesis that policies aimed at increased environmental performance promote increased income inequality in developing countries. Because existing literature firmly supports the hypothesis that lower income inequality leads to higher environmental performance, this paper develops a simultaneous equations model (SEM) to estimate the hypothesized endogenous relationship using two stage least squares (2SLS) …
The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri
The Impact Of Aid On The Economic Growth Of Developing Countries (Ldcs) In Sub-Saharan Africa, Maurice W. Phiri
Gettysburg Economic Review
Least Developed Countries (LDCs) of Sub-Saharan African have been recipients of official development assistance for more than 5 decades; however they are still characterized by chronic problems of poverty, low living standards and weak economic growth. The hot question is: Is aid effective in promoting economic growth? Thus, this paper investigates the impact of aid on the economic growth of 12 least developed countries in Sub-Saharan Africa over a period of 20 years. I take a fixed effects instrumental variable approach and the results imply that aid has a statistically insignificant negative impact on economic growth. I therefore conclude that …
The Gettysburg Economic Review, Volume 10, Spring 2017
The Gettysburg Economic Review, Volume 10, Spring 2017
Gettysburg Economic Review
No abstract provided.
The Rise Of Technology And Its Influence On Labor Market Outcomes, Maja K. Thomas
The Rise Of Technology And Its Influence On Labor Market Outcomes, Maja K. Thomas
Gettysburg Economic Review
Technological progress has significantly changed the inputs and production processes utilized by firms. Such shifts have led to warnings throughout the past few decades that substantial numbers of jobs, particularly things belonging to the middle class, would be eliminated and replaced by technology. This paper examines the validity of this argument by estimating the impact of technology investment on local labor markets during that period. I find evidence for a positive, rather than negative, relationship between technology and employment. Furthermore, my estimates suggest there exists a complementary relationship between technology investment and growth in labor opportunities, rather than a substitution …
Is There A Path For Green Growth? Evidence From India, Thuc Anh Thi Trinh
Is There A Path For Green Growth? Evidence From India, Thuc Anh Thi Trinh
Gettysburg Economic Review
This paper uses historical temperature fluctuations in India to identify its effects on economic growth rates. Using a climate-adjusted form of the Solow growth model, I find that one degree Celsius increase in temperature decreases GDP per capita growth by 0.71%. This finding informs debates over the role of climate on economic development and suggests the possibility of a green path for economic growth, a policy agenda that is both sustainable and pro-growth.
The Effects Of Airline Behavior On Aircraft Accidents, Anneliese S. Brown
The Effects Of Airline Behavior On Aircraft Accidents, Anneliese S. Brown
Gettysburg Economic Review
The purpose of this paper is to study the effects of specific airline business decisions on aircraft accident propensity. Airline safety affects everyone and has large regulatory and policy implications. Existing research has focused largely on three areas: airline financial health, safety and the resulting effects of accidents. I use both Poisson and Negative Binomial models to study two different airline features: low-cost carriers and flight length, and how they relate to the probability of an aircraft accident. Based on results using a Generalized Negative Binomial model, I find statistically significant evidence at the 99% confidence level that a 1-unit …
The Gettysburg Economic Review, Volume 9, Spring 2016
The Gettysburg Economic Review, Volume 9, Spring 2016
Gettysburg Economic Review
No abstract provided.
Impact Of A Higher Minimum Wage On Enrollment Of Snap, Victoria Perez-Zetune
Impact Of A Higher Minimum Wage On Enrollment Of Snap, Victoria Perez-Zetune
Gettysburg Economic Review
This paper investigates the effect that minimum wage policy has on enrollment in public assistance programs, specifically the Supplemental Nutritional Assistance Program, SNAP. If raising the minimum wage decreases enrollment in SNAP, this could uncover a method to reduce spending without eliminating programs. Using a time-demeaned model to account for fixed effects, I take advantage of the variation in the minimum wage in the 50 states between 1998 and 2014. I estimated that on average an increase in minimum wage in a prior year results in a decrease in SNAP participation by 3.95%.
Restructuring The Eurozone, Anthony M. Juliano
Restructuring The Eurozone, Anthony M. Juliano
Gettysburg Economic Review
This paper suggests that there should be a realignment of the current Eurozone. There has been research to argue that the Eurozone does not fit the Optimum Currency Area (OCA) criteria. This might be a contributing factor to the current economic crisis in Europe. I propose, based on results from k-means data clustering, that the Eurozone be divided into three separate regions under the European Central Bank (ECB). The division would allow for enhanced stabilization and efficiency due to better fitting of the OCA criteria and policy implications.
Negative Interest Rates: Analyses Abroad And Their Applicability To The U.S. Economy, Danielle Cupp
Negative Interest Rates: Analyses Abroad And Their Applicability To The U.S. Economy, Danielle Cupp
Gettysburg Economic Review
The twenty-first century has thus far posed some of the most difficult economic challenges for policy makers that the world has ever seen. The most recent recession, the Global Financial Crisis of 2007-8, is considered the worst economic downturn in recent history. In light of unique challenges such as the recession, central banks around the world are coming up with new tools or new ways of thinking about tools in order to mediate financial crises. This paper investigates the possibility of eliminating the zero lower bound on nominal interest rates to stimulate the economy in reaction to severe financial crises. …
Global Climate Change, Fair Trade, And Coffee Price Volatility, Thomas M. Segerstrom
Global Climate Change, Fair Trade, And Coffee Price Volatility, Thomas M. Segerstrom
Gettysburg Economic Review
Fair Trade coffee sales have grown exponentially over the past fifteen years amidst a volatile and shaky coffee commodity market. This paper incorporates the prior research that global climate change will lead to more climate shocks with research on the coffee market’s volatility and farmer welfare. In accordance with prior research on commodity volatility, I develop an OLS estimator of the volatility of prices received by growers and evaluate the effect of climate shocks on it. I find that, when control variables are introduced, the volatility of the coffee price does increase at a statistically significant level with a climate …
Economic Development And Female Labor Force Participation In The Middle East And North Africa: A Test Of The U-Shape Hypothesis, Kelsey A. Chapman
Economic Development And Female Labor Force Participation In The Middle East And North Africa: A Test Of The U-Shape Hypothesis, Kelsey A. Chapman
Gettysburg Economic Review
This paper investigates the relationship between economic development and female labor force participation in the Middle East and North Africa (MENA). Using a panel data set of 20 countries in the region for the period of 1990-2012, I develop an econometric model that tests the U-shape hypothesis. This study builds upon previous literature examining the U-shape hypothesis in time series studies for developing countries, and cross-country studies. The results of this paper suggest that there is a U-shaped relationship between economic growth and female labor force participation rates. The MENA region’s low female labor force participation rates can be explained …
Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp
Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp
Gettysburg Economic Review
This paper presents India’s economic growth by comparing it to that of the United States. In addition, this paper analyzes current events in India under a macroeconomic lens as it provides the macroeconomic impacts of said events. More specifically, this paper focuses on the ways in which unexpected severe flooding have impacted Northern India in the short-, medium-, and long-run. Analyses conclude with policy recommendations based on the goals of India’s central bank, the Reserve Bank of India (RBI).
2014 Fed Challenge Script: Current State Of The Economy, Jieran Liu, William W. Northrop, Matthew Nadler, Owen J. Rothe, Ryan M. Williams
2014 Fed Challenge Script: Current State Of The Economy, Jieran Liu, William W. Northrop, Matthew Nadler, Owen J. Rothe, Ryan M. Williams
Gettysburg Economic Review
Good afternoon everyone and thank you for having us here today. Though the recession began in 2007 and officially ended in 2009, recovery has been painfully slow. GDP growth has been insufficient to close the output gap, there continues to be slack in the labor market and inflation has stabilized below the Federal Reserve percent target. We are not meeting our dual mandate of full employment and stable prices even 6 years after the end of the recession. Despite some signs of strengthening in the economy during the past year, we do not believe that economy is on a self-sustaining …