Economic Theory Commons^™

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 …

The Transforming Importance Of Social Skills In The Labor Market In The 2010s, Andrew Bradjan

CMC Senior Theses

The growing importance of social skills has led to an increase in returns to wages and employment for workers specializing in social skill-intensive occupations. Between 2012 and 2019, social skill-intensive occupations grew by 3 percentage points as a share of the U.S. labor force. Math-intensive occupations also grew by a similar amount during this time. To analyze these patterns, I utilize a model of team production where workers trade tasks to exploit their comparative advantage. Social skills reduce coordination costs between workers and allow them to specialize and cooperate with other workers more effectively by trading tasks. This model predicts …

Is Silence The Answer?, Gator Adams

CMC Senior Theses

This study examines the relationship between company management guidance, and ex-ante crash risk over the duration of 2008(Jan 2006-Dec 2009) financial crisis using the implied volatility skew, which is based upon ex-ante volatility implied by the pricing model developed by Black-Scholes (1973). The study finds that over the duration of this crisis period, management guidance decreases with a rise in ex-ante crash risk. Further, the study provides evidence on the relationship of management guidance and earnings volatility, and how that is affected by a firm's industry product concentration based on the Herfindahl-Hirschman Index (HHI) score.

Los Bancos Del Tiempo En España: Combatiendo La Recesión Con La Moneda Social, Marco Martellini

CMC Senior Theses

Un banco del tiempo (BDT) es el nombre formal que se le da a unas instituciones comunitarias que operan con horas de tiempo personal y laboral como moneda oficial. Son sistemas organizados de moneda social que permiten a sus usuarios intercambiar su propio tiempo y destreza en forma de créditos de servicio. La unidad de moneda es una hora de trabajo. Los BDT son parte de la categoría de moneda alternativa social y representan una evolución moderna de entidades clásicas como los trueques.

Los BDT valoran conceptos como compartir, igualdad y mutualismo. Así, funcionan como un sistema alternativo a los …

Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh

CMC Senior Theses

This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.