Economics Commons^™

Exchange Rate Responses And Volatility Spillover Effects During The Covid-19 Pandemic In Indonesia, Panky Tri Febiyansah

Economics and Finance in Indonesia

This paper aims to assess the impact of the confirmed COVID-19 cases, the timing of the outbreak, and physical measures on the returns and spillover effects of exchange rate in Indonesia. The model will be tested by the exponential generalized autoregressive conditional heteroskedastic (EGARCH) process and the spillover volatility index. The study discovers that the confirmed cases, outbreak news, and the implementation of large-scale social restrictions simultaneously contribute to a leverage effect on the volatility of a direct quote of Indonesian Rupiah to Australian Dollar, Euro, US Dollar, Singapore Dollar, and Great British Pound. To a certain extent, the heatwave …

Involuntary And Patient-Initiated Delays In Medical Care During The Covid-19 Pandemic, Erin Todd Bronchetti, Ellen B. Magenheim, E. K. Bergmann

Economics Faculty Works

This paper uses data from a new, nationally representative survey to study delays in non–COVID-related medical care among US adults during the COVID-19 pandemic. We expand on prior research by taking a comprehensive look at the many reasons patients may have experienced delays in medical care and by studying the longer-run implications of these delays for patients’ self-reported health, use of telemedicine, feelings of regret, and likelihood of delaying care again in the future. Classifying delays in care broadly as involuntary (those due to availability or “supply-side” constraints) or patient-initiated (those due to patient concerns or “demand-side” constraints), we document …

The Covid-19 Pandemic And Work From Home, 2019-2021, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet presents data from the American Community Survey (ACS) Report, “Home Based Workers and the COVID-19 Pandemic,” which examines how the COVID-19 pandemic affected commuting patterns and workplace systems. The data examine how the pandemic shifted norms in work culture and conditions in Mountain West states and metropolitan statistical areas (MSAs).

The Impact Of Vaccinations And Chronic Disease On Covid Death Rates, James L. Doti

Economics Faculty Articles and Research

This study presents a theoretical and empirical regression model to measure the efficacy of vaccinations in reducing COVID death rates across states over the 3/10/21 to 12/28/22 period. During that period, it was estimated that the availability of vaccinations resulted in a reduction of 427,000 COVID deaths in the nation. To arrive at that estimate, other covariants were held constant. In particular, it was found that chronic disease should be included as an explanatory variable to arrive at unbiased measures of the efficacy of vaccinations in reducing deaths. In addition, the percentage of people over the age of 65 was …

Child Care Costs In The Mountain West, 2021, Mohit Pande, Vanessa Booth, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data on child care costs in five Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah, from the Child Care Aware of America’s (CCAoA) report “Price of Care: 2021 Child Care Affordability.” The original report includes data on the cost of child care and the percent of yearly income allocated to child care for married and single parents. The report analyzes single family respondents and the impact of child care on work schedules. The report also provides information on the state of the child care workforce, including annual incomes of child care workers and the …

The Impact Of Geopolitical Risks On Price Variation And Political Trust In France: Analyzing The Ukraine-Russia Conflict, Olivier Sempiga

The Journal of International Relations, Peace Studies, and Development

Geopolitical risks (GPRs) have varied consequences over countries and over time. COVID-19 and the war in Ukraine are some of the recent GPRs. The conflict in Ukraine has had far-reaching economic consequences, not only for the countries directly involved in it but also for their trading partners and allies, and on the global economy in general. France, as one of Ukraine and Russia's major trading partners, has also felt the impact of the conflict on its economy. Using data from the French National Institute of Statistics and Economic Studies (INSEE), the paper investigates the impact of GPRs caused by the …

Examining The Effects Of Student Loan Forgiveness And The Christian Perspective, Sarah Rogers

Helm's School of Government Conference - American Revival: Citizenship & Virtue

On August 24, 2022, President Joe Biden announced his plan for federal student loan forgiveness. The program allows individuals who make less than $125,000 a year and families under $250,000 relieve up to $10,000 of their loan debt. Those who fall under the Pell Grant program are able to relieve up to $20,000 of their debt. The reactions to this “revolutionary” program were mixed. Typically, those who the program would directly affect were very enthusiastic about this idea while those, most notably Republicans, were less than thrilled. While the idea is good in theory, the execution of debt forgiveness will …

Economic Forecasting In A Pandemic: Some Evidence From Singapore, Hwee Kwan Chow-Tan, Keen Meng Choy

Research Collection School Of Economics

This paper aims to investigate whether the predictive performance and behaviour of professional forecasters are different during the COVID-19 pandemic as compared with the global financial crisis of 2008 and normal times. To this end, we use a survey of professional forecasters in Singapore collated by the central bank to analyse the forecasting records for GDP growth and CPI inflation for the period 2000Q1–2021Q4. We first examine the point forecasts to document the extent of forecast failure duringthe two crises and explore various explanations for it, such as leader-following and herding behaviour. Then, using percentile-based summary measures of probability distribution …

The Effect Of Yearly Labor Earnings On Commute Time To Work In South Carolina, Peter Trela

All Theses

In this paper, I attempt to ascertain the effect of labor earnings on commute time to work for individuals in South Carolina by using ACS 1-year Public Use Microdata Sample Estimates. First, I use standard linear regression models with controls to determine the direction and magnitude of the association between yearly labor earnings and commute time to work. I later use standard linear regression models with limited controls to determine how the association between yearly labor earnings and commute time changes before and during the events of the COVID-19 pandemic. There exists a positive relationship between yearly labor earnings and …

The Prevalence Of Herding In Indian Auto Sector: Implications For Market Efficiency, Arundhathi P S, Aslam P S, Libison K B

Arab Economic and Business Journal

The worldwide catastrophes due to the spread of Wuhan virus, India had witnessed an explosive change in the economic activity, mainly in the investment pattern. This made the investors to do panic trading by following what others were doing in the market. We offer an empirical analysis to examine the presence of herding in Indian Automobile Sector during pre-pandemic and pandemic period (COVID-19). To detect the presence of herding, we applied Cross Sectional Absolute Deviation (CSAD) and One-way ANOVA was employed to examine whether there is any significant difference in the auto index during Pre pandemic and pandemic period. The …

Optimal Interventions In Networks During A Pandemic, Roland Pongou, Guy Tchuente, Jean-Baptiste Tondji

Economics and Finance Faculty Publications and Presentations

We develop a model of optimal lockdown policy for a social planner who balances population health with short-term wealth accumulation. The unique solution depends on tolerable infection incidence and social network structure. We then use unique data on nursing home networks in the US to calibrate the model and quantify state-level preference for prioritizing health over wealth. We also empirically validate simulation results derived from comparative statics analyses. Our findings suggest that policies that tolerate more virus spread (laissez-faire) increase state GDP growth and COVID-19 deaths in nursing homes. The detrimental effects of laissez-faire policies are more potent for nursing …

Cities In A Pandemic: Evidence From China, Badi H. Baltagi, Ying Deng, Li Jing, Zhenlin Yang

Research Collection School Of Economics

This paper studies the impact of urban density, city government efficiency, and medical resources on COVID-19 infection and death outcomes in China. We adopt a simultaneous spatial dynamic panel data model to account for (i) the simultaneity of infection and death outcomes, (ii) the spatial pattern of the transmission, (iii) the intertemporal dynamics of the disease, and (iv) the unobserved city-specific and time-specific effects. We find that, while population density increases the level of infections, government efficiency significantly mitigates the negative impact of urban density. We also find that the availability of medical resources improves public health outcomes conditional on …

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 …

The Impact Of Covid-19 And Associated Policy Responses On Global Food Security, Edward J. Balistreri, Felix Baquedano, John C. Beghin

Department of Economics: Faculty Publications

We analyze the impact of the COVID-19 pandemic and associated policy responses on the global economy and food security in 80 low- and middle-income countries. We use a global economy-wide model with detailed disaggregation of agricultural and food sectors and develop a business-as-usual baseline for 2020 and 2021 called “But-for-COVID” (BfC). We then shock the model with aggregate income shocks derived from the IMF World Economic Outlook for 2020 and 2021. We impose total-factor productivity losses in key sectors as well as consumption decreases induced by social distancing. The resulting shocks in prices and incomes from the CGE model simulations …

Part 7: The Virginia Museum Of Contemporary Art: Challenges, Opportunities, And Economic Impact, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

Museums are a part of the cultural life of a region and a component of the regional economy. The Virginia Museum of Contemporary Art in Virginia Beach is one such museum. The Virginia Museum of Contemporary Art (Virginia MOCA for short) is a cultural jewel that continues to provide the region with remarkable artistic resources and programming. In this chapter, we explore how museums can contribute to economic activity and explore the economic impact of the Virginia Museum of Contemporary Art.

2023 State Of The Commonwealth Report, Vinod Agarwal, Aliou Ousmane Ba, Barbara Blake, James V. Koch, Ria Kolarao, Feng Lian, Anna Makhorkina, Melody Nguyen, Terry Parker, Mohamed Rahoui, Panagiotis Taoulas, Robert D. Mcnab

State of the Commonwealth Reports

This is Old Dominion University's ninth annual State of the Commonwealth Report. While it represents the work of many people connected in various ways to the University, the report does not constitute an official viewpoint of Old Dominion, its president, Brian Hemphill, Ph.D., the board of Visitors, the Strome College of Business or the generous donors who support the activities of the Dragas Center for Economic Analysis and Policy.

Our work seeks to contribute to the conversation about how Virginia can foster growth across the Commonwealth without glossing over the challenges we face. Instead of retreating into partisan enclaves where …

An Empirical Analysis Of The Impact Of Covid-19 On Trade: Evidence From A Small Island African Economy, Z Khan Jaffur, V Tandrayen-Ragoobur, B Seetanah

Journal of African Trade

This study investigates the potential impacts of the COVID-19 pandemic and related containment measures on the trade system of Mauritius for the period January 2010 to June 2021. As the pandemic spread across the globe due to high interconnectedness across countries, authorities has also established stringent health containment measures in the form of restrictions on people and businesses to slow the propagation of the virus. Being a small island economy highly dependent on international trade, Mauritius also faced the brunt of the pandemic which disrupted its economic activities and trade flows with its main trading partners. COVID-19 incidence and lockdown …

Behind Closed Doors: How Remittance Flows Changed Repression Dynamics In Beneficiary States During Covid-19, Ketevan Tsurtsumia

Senior Projects Spring 2023

The COVID-19 pandemic affected the global world in a lot of ways. Extensive research has been done on its effect on the economic growth of states, the effectiveness of government responses, the efficacy of different vaccines, and vaccine diplomacy. However, changes in state repression have been a neglected topic in research focused on understanding and analyzing the processes that took place during the pandemic. This paper will take on the topic of state repression dynamics during COVID-19 and further develop this relationship using remittances as an additional variable that affects state repression, taking state repression as a dependent variable. Finally, …

A Patriarchal Pandemic: Analyzing The Global Impacts Of Covid-19 On Women And The Gendered Dynamics Of Policies, Paige Gregg

Senior Projects Spring 2023

Utilizing empirical and contemporary research, this Senior Project aims to explore the ways in which the COVID-19 pandemic disproportionately impacted women through social, economic, and policy avenues. This project starts by identifying the unequal effects on health, gender based violence, economic security and unpaid care the pandemic had on women. It then transitions to establish historical and systematic occurrences of gender bias in macroeconomic policies. It lays out the specifics of policy implementation during the COVID crisis, and outlines the numerical and regional variations in gender-sensitive policies. It surmises that, overall the gendered policy response was subpar, given the disproportionate …

Three Essays On Consumption Taxation In Indonesia, Partomuan Transparenter Juniult

Theses and Dissertations--Public Policy and Administration

Consumption taxes play a major role in revenue generation for many developing countries. They are also used to encourage or discourage certain consumption behaviors. However, the administrative aspects of implementing these taxes can create challenges for the tax authorities, and lead to distortions in taxpayer behavior. To overcome these challenges, efforts have been made to simplify policies and utilize technology to improve administration and compliance. My dissertation aims to provide empirical evidence on the effects of three consumption or commodity tax policy reforms in Indonesia. The dissertation consists of three essays as follows.

In my first essay, titled “The effect …

A Comparative Analysis Of 14 Central Banks’ Monetary Responses Before And After The Covid-19 Pandemic In Relation To Central Bank Independence, Emelle Stottele

CMC Senior Theses

In theory, during periods of economic downturn, economic policy should follow a countercyclical pattern. In this light, following the recent COVID-19 pandemic, monetary policy is expected to be contractionary. However, prior research shows that the cyclical nature of monetary policy can vary significantly across different countries. Research also suggests that these monetary responses differ based on the level of independence a central bank has for decision-making from government influence. This thesis studies the effects of the COVID-19 pandemic on the monetary responses across a panel of 14 countries from January 2018 to August 2022, capturing the impacts of the pandemic. …

Essays In Applied Microeconomics, Joshua C. Martin

Graduate Theses, Dissertations, and Problem Reports

The first chapter examines the role that same-sex marriage legalization had on the number of adoptions of children from foster care in the United States. We do so by employing a synthetic difference-in-differences estimator which leverages both the differential timing of these laws across states and the subsequent wave of state-level legal protections which give foster-care agencies the right to deny service to same-sex couples based on religiously-held beliefs. Using highly detailed, county-level data of nearly 20 million children in the foster care system from 1995-2020, our findings reveal that same-sex marriage legalization led to a 3.8%-5.9% increase in the …

Three Essays On Health And Environmental Economics: Applications Of Spatial Econometrics And Spatial Analysis, Mohammed Syedul Islam

Graduate Theses, Dissertations, and Problem Reports

Spatial interaction and the locational structure between observations play key roles in the field of econometrics for both cross-sectional and panel data analysis. Compared to a non-spatial econometric model, a spatial model relaxes the assumption of independency in observations. This research applies spatial and non-spatial econometrics in three different fields of applied economics: (1) drinking water and air quality violations impacts on lung and bronchus cancer incidence in the contiguous United States (U.S.); (2) spillover effects of non-pharmaceutical interventions (NPIs) on COVID-19 cases across the contiguous U.S. counties; and (3) urbanization impacts on carbon dioxide (CO₂) emissions in …

Political Polarization And Price Dispersion: Recent Evidence From The Airline Industry During Covid-19, Jihui Chen

Faculty Publications – Economics

This paper analyzes the relationship between price dispersion and political polarization of the endpoint states on a given route during the COVID-19 pandemic. The sample includes ticket information from the DB1B database between 2020:Q1 and 2021:Q4. The fixed-effect panel instrument variable (IV) estimation finds evidence of increased price dispersion on routes connecting states led by a Republican governor than those linking Democrat-led states. My analysis adds to the literature by exploiting the impact of political factors (i.e. demand shocks triggered by the COVID-19 policy interventions) on price dispersion using the latest data.

Heterogeneity In The Covid-19 Pandemic’S Labor Market Effects, Carlos Montelongo

CMC Senior Theses

In the wake of the COVID-19 pandemic, labor market outcomes in the United States drastically changed as the country entered its first recession since the Great Recession. The lives of millions of Americans became upended as economic shutdowns and lockdown orders spread across the United States. This paper attempts to quantify and examine the heterogeneity of employment trends before, during, and after the COVID-19 pandemic along the following four dimensions: race/ethnicity, gender, education, and age. By using cross-sectional data from the Current Population Survey, I gathered a representative sample of different demographic groups in the United States. My objective is …

The Paycheck Protection Program's Effect On Real Estate Prices, Someswar Amujala

CMC Senior Theses

This paper investigates the relationship between the Paycheck Protec- tion Program (PPP) and real estate price increases. The Paycheck Protection Program was established by the Small Business Association in 2020 to pro- vide forgivable loans to businesses to aid with potential losses from COVID- 19 impacts. I leverage zip code level data across the United States and a fixed effects panel data model to quantitatively measure the PPP’s influence on housing and rental prices. I find a positive and significant relationship between the number of PPP loans disbursed and housing and rental rates. Specifically, a 1% change in the number …

Public Ownership And The Wto In A Post Covid-19 Era: From Trade Disputes To A 'Social' Function, Paolo Davide Farah, Davide Zoppolato

Articles

Public ownership is closely bound to the need of the government to protect and guarantee the well-being of its citizens. Where the market cannot, or does not want to, provide goods and services, the State uses different tools to intervene, influence, and control some aspects of the private sphere of expression of its citizens in the name and interest of the collectivity. Although, in the past century, this behavior was accepted as one of the expressions of the public authority and part of the social contract, this perception has shifted partially in accordance with the wave of privatization programs initiated …

Science, Technology, Society, And Law, Paolo Davide Farah, Justo Corti Varela

Book Chapters

Traditionally, science and technology have been granted as sources of knowledge and objective truth. However, much more recently, they are also seen as human activities, conducted in a social environment. This new approach focuses on the intersections between science, technology and society, and particularly their regulation by the law. Concerns on how to best regulate the interaction come up in modern societies, and when either their use or their impacts are global, international law and international organizations become involved. The impact of the fourfold relation is so high that science and technology are seen as one of the reasons for …

When Does Csr Payoff?, John A. Doukas, Rongyao Zhang

Finance Faculty Publications

We investigate whether firms engaging in corporate social responsibility (CSR) can preserve firm value during normal and unprecedented exogenous adverse events. Our evidence shows, in regular times, a negative relation between CSR engagement and firm value, but under adverse economic conditions, CSR protects firm value by decreasing firm risks. We also find that firms with high managerial attributes engage in greater CSR activities that benefit shareholders in both normal and aberrant financial times. Despite the controversy surrounding CSR, our evidence points out that CSR can be viewed as a set of intangible assets that can improve firm value across good …

Impact Of Covid-19 Relief Packages On U.S. Household Food Security And Food Expenditure, Bridget Yeboah Bafowaa

Electronic Theses and Dissertations

The COVID-19 pandemic led to changes in consumer shopping habits, including food expenditures. The pandemic induced changes in food expenditure patterns, food accessibility, and declining household income contributed to increased food insecurity during the pandemic. The objective of this study is to examine the impact of COVID-19- related relief packages on food security and food expenditures. The effect of Economic Impact Payments, P-EBT, SNAP, and free food will be considered. Using data from the Household Pulse Survey (HPS), a total sample of 1,899,929 households were analyzed in this study. The HPS is a nationally representative survey structured to produce data …