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Full-Text Articles in Economics

An Empirical Investigation On The Great Gatsby's Curve, Carlos Urrutia, Marina Mendes Tavares Jan 2106

An Empirical Investigation On The Great Gatsby's Curve, Carlos Urrutia, Marina Mendes Tavares

Carlos Urrutia

Cross country evidence suggests a negative relation between inequality and intergenerational mobility, sometimes dubbed as the “Great Gatsby's Curve". From a time series perspective, we analyze the relation between the increase in inequality and the observed trends in intergenerational mobility in the U.S. over the last three decades. As an empirical contribution, we document a significant increase in the intergenerational elasticity of earnings, both at the family level and at the individual level, between 1977 and 2012. However, we do not observe a significant trend in the intergenerational elasticity of family income, suggesting an important role for transfers ...


A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma Jul 2019

A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma

Economics ETDs

Wildfires frequency and severity have been increasing in the western United States over the past few decades. This rising threat is caused by the accumulated fuel load, climate change, and the rapid expansion of housing in the wildland-urban interface (WUI). Since most mitigation and suppression costs are borne by taxpayers, policy analysts seek both market (e.g., protection and suppression cost) and non-market cost estimates of wildfires. As one tool, the hedonic pricing method is commonly used to investigate wildfire effects on property values. There are a variety of hedonic studies investigating wildfire, with mixed and/or inconsistent results. Model ...


Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita Feb 2018

Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita

All Dissertations, Theses, and Capstone Projects

This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our ...


Surveying Student Perspectives To Enhance Civic And Global Learning, Robert D. Reason, Larry A. Braskamp Jan 2018

Surveying Student Perspectives To Enhance Civic And Global Learning, Robert D. Reason, Larry A. Braskamp

Robert D Reason

Throughout its history, American higher education has prepared students for principled citizenship in a democratic society. Yet in recent years, public critique has focused ever more sharply on higher education's role in fueling economic growth (National Task Force on Civic Learning and Democratic Engagement 2012). In the face of these pressures, several educational leaders and organizations, including the Association of American Colleges and Universities (AAC&U), have called on colleges and universities to recommit to preparing students to become active workers and citizens. Fortunately, these are complementary goals. By helping students develop civic capacities like a sense of personal ...


“Firm Behavior In The Mid-Twentieth Century American Steel Industry”, Robert Rogers Jan 2018

“Firm Behavior In The Mid-Twentieth Century American Steel Industry”, Robert Rogers

The Journal of Economics and Politics

In the period from 1920 to 1972, the American steel industry consisted of eight large companies and a fringe composed of small domestic producers and foreign firms exporting to the United States. The market structure made it unlikely that the industry behaved in a perfectly competitive fashion. Thus, oligopoly hypotheses on firm behavior such as Nash-Bertrand and Stackelberg leadership seem plausible. This paper estimates a BLP demand model for the industry, and it, then, uses the demand parameters to estimate price equations under the different behavioral assumptions. From the information in this model, tests are made to see which hypothesis ...


Is Microfinance Raising Village Income? The Issue Of Excess Entry, Catherine C. De Fontenay Jan 2018

Is Microfinance Raising Village Income? The Issue Of Excess Entry, Catherine C. De Fontenay

Catherine de Fontenay

This paper provides new insight into the question of why we have not seen microfinance pro- grams lift beneficiary regions out of poverty. We suggest that the explanation may lie in the industry choice of microfinance participants: if borrowers tend to enter imperfectly competitive sectors, such as retail, there may be a “business-stealing” effect that reduces incomes of existing businesses. Our model shows that microfinance may lower total incomes at the village level. The result is related to the classic Mankiw and Whinston result on excess entry. The results imply that microfinance organizations may want to steer recipients away from ...


L’Indochine Française Du Xixe-Xxe Siècle – Politique Et Religions, Thu-Trang Vuong, Quan-Hoang Vuong Jan 2018

L’Indochine Française Du Xixe-Xxe Siècle – Politique Et Religions, Thu-Trang Vuong, Quan-Hoang Vuong

Quan-Hoang Vuong

La colonisation suivie du règne communiste a laissé sa marque sur l’ancienne Indochine française, constituée des trois pays Vietnam, Laos et Cambodge. Cet article vise à analyser la relation étroite entre des bouleversements politiques de la fin XIXe-début XXe siècle et l’évolution des institutions religieuses en Indochine, pour conclure sur l’interaction et l’influence réciproque entre politique et religieux.


The Effect Of Expansions In Medicaid Eligibility On Hospital Financial Performance: Evidence From Medicare Cost Reports, Kevin Wu Jan 2018

The Effect Of Expansions In Medicaid Eligibility On Hospital Financial Performance: Evidence From Medicare Cost Reports, Kevin Wu

School of Arts & Sciences Theses

Expansions in Medicaid eligibility and effects on profitability for different hospitals are examined using data from Medicare Cost Reports and difference-in-differences analysis. Critical access and disproportionate share hospitals are associated with the largest profitability gains from these expansions. Results imply that vulnerable hospitals are affected most by changes to Medicaid.


Lessons On Economics And Political Economy From The Soviet Tragedy, Peter J. Boettke, Rosolino A. Candela Jan 2018

Lessons On Economics And Political Economy From The Soviet Tragedy, Peter J. Boettke, Rosolino A. Candela

Journal of Global Initiatives: Policy, Pedagogy, Perspective

This paper explores the economics and politics of the tragic Soviet experiment with socialism. Beginning with the period of “War Communism” between 1917 and 1921, the Soviet government’s attempt to implement socialism failed to achieve its stated objectives, namely to create social harmony, eliminate class struggle, and to unleash advanced material production. It attempted to achieve these ends by abolishing private property and market prices in the means of production, eliminating the incentives and information necessary to guide production in an efficient manner. The unintended political and economic results were disastrous, leading to tyranny, famine, and oppression. Failing to ...


Using The Quantitative Literacy And Reasoning Assessment (Qlra) For Early Detection Of Students In Need Of Academic Support In Introductory Courses In A Quantitative Discipline: A Case Study, Nathan D. Grawe, Kristin O'Connell Jan 2018

Using The Quantitative Literacy And Reasoning Assessment (Qlra) For Early Detection Of Students In Need Of Academic Support In Introductory Courses In A Quantitative Discipline: A Case Study, Nathan D. Grawe, Kristin O'Connell

Numeracy

As the number of young people attending college has increased, the diversity of college students’ educational backgrounds has also risen. Some students enter introductory courses with math anxiety or gaps in their quantitative training that impede their ability to master or even grasp relevant disciplinary content. Too often professors learn of these anxieties and gaps only during the post mortem of the first midterm. By that time, a good portion of a student’s grade is determined and successful recovery may be impossible. During the 2016-17 academic year, the Department of Economics at Carleton College ran a pilot project using ...


'They Come Here To Work': An Evaluation Of The Economic Argument In Favor Of Immigrant Rights, Shannon Gleeson Jan 2018

'They Come Here To Work': An Evaluation Of The Economic Argument In Favor Of Immigrant Rights, Shannon Gleeson

Shannon Gleeson

Advocates commonly highlight the exploitation that hard-working undocumented immigrants commonly suffer at the hands of employers, the important contribution they make to the US economy, and the fiscal folly of border militarization and enhanced immigration enforcement policies. In this paper, I unpack these economic rationales for expanding immigrant rights, and examine the nuanced ways in which advocates deploy this frame. To do so, I rely on statements issued by publicly present immigrant rights groups in six places: California, Florida, Illinois, New York, Texas, and Washington, DC. I also draw on interviews with immigrant advocates in San Jose, CA and Houston ...


International Migration In Macro-Perspective: Bringing Power Back In, Marcel Paret, Shannon Gleeson Jan 2018

International Migration In Macro-Perspective: Bringing Power Back In, Marcel Paret, Shannon Gleeson

Shannon Gleeson

This paper challenges the inward looking perspective of recent immigration research by situating migration to the United States within a global and historical context. This macro-stratification perspective breaks out of the confines of national contexts to explore how international migration is shaped by global power divides. We argue that in order to fully understand international migration, it is necessary to account for both the emergence of global power structures and the historical domination of Europe. We develop our argument by first outlining the significance of global power divides, with a particular focus on the United States. We then demonstrate how ...


Spring 2018 Economics Newsletter, Economics Department Jan 2018

Spring 2018 Economics Newsletter, Economics Department

Economics Newsletter

No abstract provided.


Prophylactic Merger Policy, Herbert J. Hovenkamp Jan 2018

Prophylactic Merger Policy, Herbert J. Hovenkamp

Faculty Scholarship

An important purpose of the antitrust merger law is to arrest certain anticompetitive practices or outcomes in their “incipiency.” Many Clayton Act decisions involving both mergers and other practices had recognized the idea as early as the 1920s. In Brown Shoe the Supreme Court doubled down on the idea, attributing to Congress a concern about a “rising tide of economic concentration” that must be halted “at its outset and before it gathered momentum.” The Supreme Court did not explain why an incipiency test was needed to address this particular problem. Once structural thresholds for identifying problematic mergers are identified there ...


The Effect Of Network Ethnic Segregation On Wage Formation: The Case Of Sri-Lankan Immigrants In The City Of Milan, Italy, Luca De Benedictis, Valerio Leone Sciabolazza, Raffaele Vacca Jan 2018

The Effect Of Network Ethnic Segregation On Wage Formation: The Case Of Sri-Lankan Immigrants In The City Of Milan, Italy, Luca De Benedictis, Valerio Leone Sciabolazza, Raffaele Vacca

Luca De Benedictis

This paper delves into well-known results on the positive effects of social networks on job search in immigrant communities, to explore the informational content provided by social networks of acquaintances and its effects on the economic attainment of Sri Lankan immigrants in Milan, Italy. Using data from a 2012 survey on personal networks and daily activity spaces of Sri Lankan immigrants in Milan, we analyze co-location and intersection of activity spaces to reconstruct the socio-centric network of likely acquaintances of interviewed immigrants. We then derive an inverse measure of the extent to which a Sri Lankan immigrant is exposed to ...


Stock Market Reactions To Presidential Statements: Evidence From Company-Specific Tweets, Qi Ge, Alexander Kurov, Marketa Halova Wolfe Jan 2018

Stock Market Reactions To Presidential Statements: Evidence From Company-Specific Tweets, Qi Ge, Alexander Kurov, Marketa Halova Wolfe

Economics Faculty Scholarship

When the President of the United States tweets, do investors respond? We analyze the impact of tweets from President Trump's official Twitter accounts from November 9, 2016 to July 31, 2017 that include the name of a publicly traded company. We find that these tweets move company stock prices and increase trading volume, volatility and institutional investor attention, with a stronger impact before the presidential inauguration. The initial impact of the presidential tweets on stock prices appears to dissipate over the next few trading days. Overall, the results show that investors pay attention to presidential company-specific statements even when ...


Dorothy Moser Medlin Papers - Accession 1049, Dorothy Moser Medlin Jan 2018

Dorothy Moser Medlin Papers - Accession 1049, Dorothy Moser Medlin

Manuscript Collection

(The Dorothy Moser Medlin Papers are currently in processing.)

This collection contains most of the records of Dorothy Medlin’s work and correspondence and also includes reference materials, notes, microfilm, photographic negatives related both to her professional and personal life. Additions include a FLES Handbook, co-authored by Dorothy Medlin and a decorative mirror belonging to Dorothy Medlin.

Major series in this collection include: some original 18th century writings and ephemera and primary source material of André Morellet, extensive collection of secondary material on André Morellet's writings and translations, Winthrop related files, literary manuscripts and notes by Dorothy Medlin (1966-2011 ...


Who Controls Haiti's Destiny? A Examination Of Haiti's Underdevelopment, Endless Poverty, And The Role Played By Ngos, Patrick Scheld Jan 2018

Who Controls Haiti's Destiny? A Examination Of Haiti's Underdevelopment, Endless Poverty, And The Role Played By Ngos, Patrick Scheld

Graduate College Dissertations and Theses

The presence of NGOs and development agencies is often considered an apolitical phenomenon, and that the very presence of NGOs within a country is a symbol of a global humanity in action; in short, NGOs equal charity which equals good work. Unfortunately, the reality is often much more complicated as NGOs can also be found to be self-serving, anti-democratic and strictly in pursuit of their next funding source. In this thesis I advance the central hypothesis that the international community’s continued pursuit of an NGO-led neoliberal economic development model has systematically failed to contribute to the sustainable development of ...


Outlaw Heaven: Why States Become Tax Havens, Charles A. Dainoff Jan 2018

Outlaw Heaven: Why States Become Tax Havens, Charles A. Dainoff

Theses and Dissertations--Political Science

It is the argument of this dissertation that states become tax havens as a conscious economic development strategy. These states – more properly referred to as "jurisdictions" because some lack the sovereignty of the traditional Westphalian state – do not have the natural resources or the population to pursue more traditional economic development strategies, but they do have the ability to write or implement laws that create a virtual resource: banking secrecy. These jurisdictions are able to carry out this strategy because they tend to be well-governed, stable, and relatively wealthy, making them attractive partners for the international banking, legal, and accounting ...


Evaluating The Effects Of Nutritional Intake During Adolescence On Educational Attainment And Labor Market Earnings As An Adult, Mikaela Connell Jan 2018

Evaluating The Effects Of Nutritional Intake During Adolescence On Educational Attainment And Labor Market Earnings As An Adult, Mikaela Connell

CMC Senior Theses

In this thesis, I analyze whether nutritional intake at the time of adolescence can impact academic attainment and earnings later on in life. Millions of children in the United States are living in food insecure households and do not have access to an adequate nutritious diet. Since adolescence is a time period of intense growth and development, it is essential to meet nutritional needs at this time. Using data from the Longitudinal Study of Adolescent to Adult Health (Add Health), I measure the nutrition of a nationally representative sample of youth in the United States through their daily food intake ...


The Cultural Legacy Of Communism In Entrepreneurship: Entrepreneurial Perceptions And Activity In Central And Eastern Europe, Amy Wu Jan 2018

The Cultural Legacy Of Communism In Entrepreneurship: Entrepreneurial Perceptions And Activity In Central And Eastern Europe, Amy Wu

CMC Senior Theses

Using data from the Global Entrepreneurship Monitor, this paper examines differences in entrepreneurial perceptions (fear of failure, opportunity perception, self-efficacy, public opinion) between CEE and non-CEE countries, before and after the 2008 recession, as well as the effects of these perceptions on entrepreneurial motivation and overall levels of activity. The results suggest that CEE countries have systematically more pessimistic outlooks in terms of fear of failure and opportunity perception, but no difference from non-CEE countries in self-efficacy and public opinion. Additionally, most of the difference in fear of failure and opportunity perception, along with an increase in necessity-motivated entrepreneurship, comes ...


The Effects Of Recreational Marijuana Legislation On The Opioid Epidemic In Washington State, Steven Dickerson Jan 2018

The Effects Of Recreational Marijuana Legislation On The Opioid Epidemic In Washington State, Steven Dickerson

CMC Senior Theses

This paper analyzes the impact of the 2012 legalization of recreational marijuana in Washington State on opioid abuse. Using synthetic control methodology, this paper finds that the legislation prevented 638 overdose deaths and lead to over 3,600 individuals seeking treatment for opioid abuse disorders. Due to the large health, social, and economic impacts of the opioid epidemic, further research should be conducted into ways to reduce the number of opioid prescriptions, the number of opioid overdoses, and opioid abuse generally.


Is Avocado Toast The Reason I'M Still Living With My Parents?, Brendan Macdonald Jan 2018

Is Avocado Toast The Reason I'M Still Living With My Parents?, Brendan Macdonald

CMC Senior Theses

Is avocado toast the reason that I am still living with my parents? In other words, does the consumption of avocado toast, or more specifically eating out in general, have any impact on one’s ability to be a homeowner. In May of 2017, an Australian real estate developer by the name of Tim Gurner was asked to provide advice to young people who could not afford to purchase a home. He responded by saying, “when I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” (Victor, 2017 ...


Borderplex Business Barometer, Volume 2, Number 1, Thomas M. Fullerton Jr., Adam G. Walke, Omar Solís, Esmeralda Muñiz Jan 2018

Borderplex Business Barometer, Volume 2, Number 1, Thomas M. Fullerton Jr., Adam G. Walke, Omar Solís, Esmeralda Muñiz

Border Region Modeling Project

No abstract provided.


Are Teacher Pensions "Hazardous" For Schools?, Patten Priestley Mahler Jan 2018

Are Teacher Pensions "Hazardous" For Schools?, Patten Priestley Mahler

Upjohn Institute Working Papers

I use a detailed panel of data and a unique modeling specification to explore how public schoolteachers respond to the incentives embedded in North Carolina’s retirement system. Like most public-sector retirement plans, North Carolina’s teacher pension implicitly encourages teachers to continue working until they are eligible for their pension benefits, and then leave soon afterward. I find that teachers with higher levels of quality, as measured by a teacher’s value-added to her students’ achievement test scores, are more responsive to the “pull” of teacher pensions. Younger teachers, those with higher salaries, and nonwhite teachers are also more ...


Robust Measures Of Earnings Surprises, Jun Tu, Chin-Han Chiang, Jianqing Fan, Harrison Hong, Jun Tu Jan 2018

Robust Measures Of Earnings Surprises, Jun Tu, Chin-Han Chiang, Jianqing Fan, Harrison Hong, Jun Tu

Research Collection Lee Kong Chian School Of Business

Event studies of market efficiency measure an earnings surprise with the consensuserror (CE), defined as earnings minus the average of professional forecasts. Even if asubset of forecasts can be biased, the ideal but difficult to estimate parameter-dependentalternative to CE is a nonlinear filter of individual errors that adjusts for bias. We showthat CE is a poor parameter-free approximation for this ideal measure. The fractionof misses on the same side (FOM), by discarding the magnitude of misses, offers a farbetterapproximation. FOM performs particularly well against CE in predicting thereturns of US stocks, where bias is potentially large, than that of international ...


The Dark Past Of Rhode Island In New Light, Yulyana Torres, Marcus Nevius Jan 2018

The Dark Past Of Rhode Island In New Light, Yulyana Torres, Marcus Nevius

Dignity: A Journal on Sexual Exploitation and Violence

No abstract provided.


Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf Jan 2018

Updated Tables And Figures For Ec 844 Nebraska Wheat Prices And Basis Patterns, Cory Walters, Jessica J. Groskopf

Extension Farm and Ranch Management

No abstract provided.


The Conditional Spatial Correlations Between Racial Prejudice And Racial Disparities In The Market For Home Loans, Nolan Kopkin Jan 2018

The Conditional Spatial Correlations Between Racial Prejudice And Racial Disparities In The Market For Home Loans, Nolan Kopkin

Africology Faculty Articles

Many studies have shown the existence of disparities in loan denial rates between blacks and whites that cannot be accounted for by observable applicant characteristics. Examining the link between racial gaps in home loan denial rates and prejudicial attitudes toward blacks measured by questions in the General Social Survey, this article shows that blacks are not only more likely to be denied conventional home mortgages but that denial rates among blacks for these loans are also geographically correlated with racial prejudice, particularly among first-lien home purchase loans and loans from depository lenders. However, among Federal Housing Administration-insured loans guaranteed by ...


The Political Economy Of Participation In The Euro: A Case Study Of Italy And Germany, Thomas Schalke Jan 2018

The Political Economy Of Participation In The Euro: A Case Study Of Italy And Germany, Thomas Schalke

CMC Senior Theses

This thesis analyses the political economy of the decision of Italy and Germany to participate in the euro. The emphasis is on understanding the economic rationales employed in each country in support of euro membership.

For Italy, the central argument is that Italy outsourced monetary policy management to the ECB in order to delimit deficient domestic policy making and import German monetary credibility. This transferred the costs of monetary orthodoxy to Europe, and the thesis briefly examines places where we might observe those costs.

For Germany, the argument is that, out of respect for the national humiliation and shame of ...