Labor Economics Commons^™

Explaining The Proliferation Of U.S. Billionaires During The Neoliberal Period, Rob Piper

Class, Race and Corporate Power

This article explains the proliferation of U.S. billionaire wealth during the neoliberal period (1980 to the present). Using the work of scholars, investigative journalists, and government researchers, it examines descriptive evidence from the past forty years of the economic, social, and political trends associated with the capital accumulation that led to so much wealth being concentrated with so few individuals. It further creates a theoretical framework of institutional factors (or “drivers”) that help to understand how these trends link together to provide a comprehensive explanation for the increase of billionaires in comparison with other economic gauges like GDP, income distribution, …

A Qualitative Study On The Financial Education Of Young Black Men, Sue M. May

University of the Pacific Theses and Dissertations

Financial literacy awareness is low among young adults, and financial literacy among Black college students is significantly lower than in other groups (Singh, 2018). However, there is little to no research on why financial literacy is so low among young Black men between 18 and 25. Few studies specifically show how financial literacy and decision-making may be related to their family economics and socialization for young Black men. Using Critical Race Theory and Family Financial Socialization theoretical frameworks, this dissertation project examined a sample of seven young self-identified Black men ages 24 to 25 years old in Northern California Bay …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

The Limits Of Financial Equity: The Federal Reserve, The Depression Of 1921, And The End Of Wilsonian Progressivism, Terril Hebert

LSU Master's Theses

The Limits of Financial Equity: The Federal Reserve, the Depression of 1921, and the End of Wilsonian Progressivism is an examination of monetary policy and centralized macroeconomic planning in the American economy during the inflationary spiral of the 1910s that culminated in the Depression of 1921. Put forward for consideration is the successful populist campaign for agricultural credit equity by the burgeoning Federal Reserve System; set against a backdrop of intentional inflation, world and domestic citizens competed against as the price and supply chain distortions perpetuated by the policing of American commerce by the Food Administration, A. Mitchell Palmer’s Department …

Non-Profits And Living Wages, Jack Buckley

School of Professional and Continuing Studies Nonprofit Studies Capstone Projects

Non-Profit organizations must find ways to divide their budgets between staff wages and program services, as well as paying their staff a living wage. Unlike for-profits who can increase prices for consumers when they need to increase staff wages, non-profits do not have this luxury. The goal of this project was to collect data on how non-profits manage their budgets and if they provide staff with living wages. A survey was sent out with a total of eight responses, giving a breakdown of various non-profit’s budgets and if they pay a living wage. Overall, seven out of eight non-profits pay …

Evaluating The Impact Of Off-Farm Decisions On Federal Government Program Utilization And Financial Success For Missouri's Beginning Farmers, Lyndsey Ann Parker

MSU Graduate Theses

Farmers and ranchers will have to increase production by approximately 70% by the year 2050 according to the American Farm Bureau Federation (2017). People in the agriculture industry face several challenges from start-up costs to limited land availability (Ahearn, 2011). There are federal and state government programs available to assist with some of these challenges but bring their own hardships as well. This study measures off-farm decisions that affect financial performance and utilization of government programs for Missouri’s farmers and ranchers. Three types of financial performance of Missouri farms are prioritized in this study, liquidity (current ratio), solvency (debt-to-asset ratio), …

Ghana Non-Performing Asset Recovery Trust (Npart), Riki Matsumoto

Journal of Financial Crises

The Ghanaian financial sector was in severe distress in 1985 after a decade of high and variable rates of inflation, low economic growth, and financial policies ill-suited to the country’s goals. Ghana, with World Bank support, implemented a Financial Sector Adjustment Program (FINSAP) between 1988-1997. To comply with the FINSAP, the Government established the Non-Performing Assets Recovery Trust (NPART) as a temporary public asset management company under Provisional National Defence Council Law 242 on February 28, 1990, with an initial 6-year statutory life, for the purpose of: 1) facilitating the restructuring and recapitalization of major state-owned banks; 2) expediting the …

Budgetary Obstacles To Police Reform: The Case Of San Francisco, Hayden Anderson

Master's Projects and Capstones

In response to the murder of George Floyd in May 2020, the Black Lives Matter movement issued a statement calling on cities to Defund the Police. The event sparked a nationwide reckoning that has reshaped the narratives and strategies for remedying the racial bias and police brutality apparent in the criminal justice system. The shift in police reform efforts embraces notions guiding police budgeting decisions. Today's advocates are transforming their approach to police reform to include budgeting decisions by promoting a municipal practice known as police budget reform. This Capstone explores the feasibility of successful police budget reform under current …

Three Essays On The Economics Of Corporate Governance, Kuochih Huang

Doctoral Dissertations

The Great Recession and the revival attention on inequality have cast doubts on various aspects of the governance of Corporate America. Not only the specific design of corporate governance institutions, but also the very purpose of the firm have became hotly debated issues. The first essay investigates the effect of the CEO's equity-based pay on workers' wages and whether the effect is amplified by product market competition. Since the 1980s, Chief Executive Officers' (CEO) pay has exploded, largely in the form of equity-based incentive compensation such as stock awards and options. Using a two-tiered principal-agent model, we show that aligning …

The United Kingdom's Corporate Bond Secondary Market Scheme (U.K. Gfc), Claire Simon

Journal of Financial Crises

In late 2008, at the height of the Global Financial Crisis, increased liquidity premia and risk aversion in the secondary market hindered companies’ ability to issue corporate bonds. In response, in January 2009, Her Majesty’s Treasury authorized the Bank of England to establish a facility to purchase commercial bonds through the Asset Purchase Facility. In March 2009, the Bank of England published details on the Corporate Bond Secondary Market Scheme, in conjunction with its quantitative easing program. Under the scheme, the Bank acted as a market maker of last resort in the secondary bond market, making regular purchases of a …

The Primary Dealer Credit Facility (Pdcf) (U.S. Gfc), Karen Yang

Journal of Financial Crises

On March 16, 2008, the Federal Reserve created the Primary Dealer Credit Facility, or PDCF, to provide overnight funding to primary dealers in the tri-party repurchase agreement (repo) market, where lenders had become increasingly risk averse. Loans were fully secured by (initially) investment-grade securities and offered at the primary credit rate by the Federal Reserve Bank of New York. The eligible collateral was significantly expanded in September 2008, after rumors of Lehman Brothers potentially filing for bankruptcy, to include all of the types of instruments that could be pledged at the two major tri-party repo clearing banks. The PDCF was …

Lessons Learned: A Conversation With Paul A. Volcker, Andrew Metrick, Rosalind Z. Wiggins, Kaleb B. Nygaard

Journal of Financial Crises

On March 26, 2019, Andrew Metrick, the Janet Yellen Professor of Finance at the Yale School of Management and Founder and Director of the Yale Program on Financial Stabilitysat down with Paul A. Volcker to discuss his perspectives on the Federal Reserve, central banking autonomy, “too big to fail,” and how his perspectives on these topics have changed over the decades.It turned out to be one of the last interviews given by the former Chairman of the Federal Reserve System who passed away on December 8, 2019, at the age of 92.

Shocks To Aggregate Demand And Aggregate Supply In The Midst Of Covid-19, Anna M. Gellerman

Publications and Research

COVID-19 sent shockwaves throughout the economy, changing the amounts of goods and services distributed and altering the demand. This article discusses the negative demand shock and adverse supply shock that the U.S. economy faced in 2020, and the policies that the government implemented to reverse these effects.

Future And Value: The Library As Strategic Partner, Antje Mays

Charleston Library Conference

Broader economic trends spawn budget pressures for education and libraries, prompting a plethora of studies on the value and relevance of libraries. Numerous reports on economic decline in libraries and studies with mixed pronouncements on the value of libraries have led to a negative self-image within the library profession. Yet libraries’ leadership in connecting learners to knowledge is at the heart of producing many of the key skills sorely needed in robust societies and economies. Librarianship has many untapped opportunities for positioning itself as a prominent strategic partner. This paper outlines current research on the economic and societal context for …

Gdp And Refugees: An Economic Argument For Accepting Refugees, Michael Jarman

Marriott Student Review

This paper examines both the costs and benefits associated with accepting refugees and purports to show that accepting refugees is economically beneficial; increasing GDP in the long run. There is a substantial cost associated with accepting and sustaining refugees, both in providing necessities and in the impact that refugees have on local job markets. However, longitudinal data pulled from Denmark, Germany, and Turkey has shown that local markets do recover from the initial shock. Over time as refugees integrate into their host communities, they provide dividends in the form of increasing demand, greater mobility and wage increases for locals, and …

Romania -- Systematic Country Diagnostic: Background Note-Agriculture (English), Edinaldo Tebaldi, Anatol Gobjila

Economics Faculty Journal Articles

Agriculture plays a significant socio-economic role in Romania and its transformation to a modern, vibrant, and market-oriented sector is central to fighting poverty, promoting social inclusion, and reducing the urban/rural development divide. Most of Romania's poor live in rural areas and earn their living from agriculture or agriculture-related activities. In 2016, eight out of ten people who were at risk of poverty or social exclusion lived either in rural areas or in towns and suburbs that were predominately rural. Using microdata from the 2013 Household Budget Survey (HBS), this report finds that individuals living in rural areas are 16.5 percent …

Investment And The Long Swings Of Unemployment, Hian Teck Hoon, Katsimi Margarita, Gylfi Zoega

Research Collection School Of Economics

We estimate the relationship between investment and unemployment over the time period 1960-2015 in 20 OECD countries. While neoclassical growth theory typically assumes full employment – with no effect of investment on unemployment – we find that over our sample period covering more than five decades, a statistically significant negative relationship does exist: when investment fell, unemployment increased. When the time period is broken down into two sub-periods to take account of the Great Recession, we find that the estimated coefficient of investment is slightly smaller when the period 2001-2015 is added to the 1960-2000 period. We also find a …

Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle

National Youth Advocacy and Resilience Conference

The Foundation for Economic Education (FEE) aims at equipping Title 1 schools with free, hands-on, engaging materials that any teacher can facilitate either individually or in a classroom setting with no background in entrepreneurship necessary. These versatile lessons, courses, and workshops teach the entrepreneurial mindset optimizing opportunities for grades 8-12 students no matter which life/career path they choose.

The Economic Impact Of Natural Gas Capital Expenditures In West Virginia, Eric Bowen

Bureau of Business & Economic Research

No abstract provided.

Precarious Paradise: The Financial Well-Being Of Hispanic Immigrant Day Laborers In Malibu, Luisa Blanco, Lila M. Carlsen, Daniel R. Morrison, George Carlsen, Ashley Chaparro, Erick Molina

Lila McDowell Carlsen

Datos Para Replicar Los Cálculos Del Artículo "La Consar: Balanceando Los Intereses De Los Ahorradores Y Las Afores", Rodrigo Garcia-Verdu

Rodrigo Garcia-Verdu

Credit Risk And Corporate Governance, Olivier Mugisho Mudekereza

Theses and Dissertations

Is the executive’s compensation structure influenced by the credit rating assigned to his company? I analyze a panel of U.S. public firms using the random-effects and fixed-effects estimations. Compared to firms with lower credit risk, I find that firms facing higher probability of default provide more incentives for their CEOs.

A Cross-Sectional Exploration Of Household Financial Reactions And Homebuyer Awareness Of Registered Sex Offenders In A Rural, Suburban, And Urban County., John Charles Navarro

Electronic Theses and Dissertations

As stigmatized persons, registered sex offenders betoken instability in communities. Depressed home sale values are associated with the presence of registered sex offenders even though the public is largely unaware of the presence of registered sex offenders. Using a spatial multilevel approach, the current study examines the role registered sex offenders influence sale values of homes sold in 2015 for three U.S. counties (rural, suburban, and urban) located in Illinois and Kentucky within the social disorganization framework. Homebuyers were surveyed to examine whether awareness of local registered sex offenders and the homebuyer’s community type operate as moderators between home selling …

Merger & Acquisition And Capital Expenditure In Health Care: Information Gleaned From Stock Price Variation, Wenjing Ouyang, Peter E. Hilsenrath

Peter E. Hilsenrath

Investment, especially through merger and acquisition (M&A), is a leading topic of concern among health care managers. In addition, the implications of this activity for organization and market concentration are of great interest to policy makers. Using a sample of 2256 firm-year observations in the health care industry during the period from 1985 to 2011, this article provides novel evidence that managers learn from financial markets in making capital expenditure (CAPEX) and M&A investment decisions. Within the industry, managers in the Drugs subsector are most likely to do so, whereas managers in the Medical Equipment and Supplies are least likely …

Does Wage-Inflation Targeting Complement Foreign Exchange Intervention? An Evaluation Of A Multi-Target, Two-Instrument Monetary Policy Framework, Taojun Xie, Jingting Liu, Joseph D. Alba, Wai-Mun Chia

Research Collection Lee Kong Chian School Of Business

We assess the inclusion of wage inflation as an intermediate target of an emerging central bank using a dynamic stochastic general equilibrium model with sticky wages and prices calibrated for the South Korean economy. The model includes wage inflation as an additional target jointly with domestic price inflation and the output gap in a Taylor- type interest rate rule operating with a sterilized foreign exchange (FX) intervention rule. Our results show a complementary relationship between wage inflation targeting and price inflation targeting. That is, by supplementing price inflation targeting with wage inflation targeting, welfare improves for cases with and without …

Master's Tools And The Master's House: A Historical Analysis Exploring The Myth Of Educating For Democracy In The United States, Timothy Scott

Doctoral Dissertations

Over the past forty-years, neoliberal education reform policies in the U.S. have spurred significant resistance, often galvanized by claims that such policies undermine public education as a vital institution of U.S. democracy. Within this narrative, many activists call to “save our schools” and return them to a time when public schools served the common good. With these narratives in mind, I explore the foundational and persistent power structures that characterize the U.S. as a means to reveal the fundamental purpose of its public education system. The questions that guide my research include: (1) With an understanding that capitalism, white supremacy, …

Tackling Technology Disruption In The Financial Sector: Are The Current Singapore Government Incentives And Labour Force Preparations Adequate?, Swee Liang Tan

Research Collection School Of Economics

No abstract provided.

Lep Language Disability, Immigration Reform, And English-Language Acquisition, Alberto Dávila, Marie T. Mora

Economics and Finance Faculty Publications and Presentations

Policy might partly shape the English-language acquisition of Hispanics migrating to the U.S. mainland, particularly policies related to limited-English-language disability benefits and immigration reform. Using data from the American Community Survey, we find that island-born Puerto Ricans on the U.S. mainland, as U.S. citizens, may have lower incentives to learn English than Hispanic immigrants because of their higher participation in LEP disability programs. However, among Mexican immigrants, recent immigration reform aimed at interior enforcement might have increased incentives for Mexican immigrants to learn English to reduce their probability of detection, if speaking English proxies for undocumented status.

Economic Impact Of Legalizing Retail Alcohol Sales In Crawford County, Katherine A. Deck, Mervin Jebaraj

Publications and Presentations

Converting from a dry county to wet county status would have a number of tangible and intangible economic benefits for Crawford County. Legal retail alcohol sales are a signal of a contemporary economic development environment. Quantifying the value of that perception is quite difficult, but it is entirely possible to estimate sales effects, tax collections, and other economic impacts of becoming a wet county. This study was conducted by the Center for Business and Economic Research to assess the magnitude of those economic effects.

Economic Impact Of Legalizing Retail Alcohol Sales In Randolph County, Katherine A. Deck, Mervin Jebaraj

Publications and Presentations

Converting from a dry county to wet county status would have a number of tangible and intangible economic benefits for Randolph County. Legal retail alcohol sales are a signal of a contemporary economic development environment. Quantifying the value of that perception is quite difficult, but it is entirely possible to estimate sales effects, tax collections, and other economic impacts of becoming a wet county. This study was conducted by the Center for Business and Economic Research to assess the magnitude of those economic effects.