Public Economics Commons^™

Reflections On Inflation: How Bad Has It Been?, Jesus Felipe

Angelo King Institute for Economic and Business Studies (AKI)

THE increase in prices that countries have experienced since March 2022 has brought old fears about the deleterious impact of inflation. It is true that prices increased after the Russian invasion of Ukraine and this affected a series of commodities that are imported. Yet, it is important to understand how much prices have increased, the nature of inflation we have experienced, and the reaction of central banks.

Essays On Tax Impacts On Corporate Finance, Corporate Governance And Regional Disparity, Mei Li

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters that cover topics on tax impacts on corporate finance, regional disparity and corporate governance.

Chapter 1 - How Do Net Operating Loss Carryforwards Affect Tax Impact on Corporate Capital Structure? This paper examines the impact of net operating loss (NOL) carryforwards on the tax implications of corporate capital structure. Leveraging the Tax Cuts and Jobs Act of 2017 (TCJA), the largest tax reform in four decades, this paper investigates the effect of NOL carryforwards on firms' sensitivity to tax reforms. As NOL carryforwards have become increasingly significant since 2000, but not widely researched due …

Sociodemographic Effects On Financial Inclusion: Implications From Online Transaction In Developing-8 Countries, Dyah Titis Kusuma Wardani, Navi'ah Khusniati, Susilo Nur Aji Cokro Darsono

Economics and Finance in Indonesia

The world has reached the industry 4.0, where technological developments have been widely applied to electronic payment, with no exception on Muslim countries. This study aims to investigate association between sociodemographic and financial inclusion in country D-8 in the probability of using online financial transactions. Using The Global Findex 2017 from D-8 Organization for Economic Cooperation included in OIC countries and the logistic regression, this study explores the effect of sociodemographic namely gender, education, income status and working status on online financial transactions users. Using control variables such as Gross Domestic Product (GDP), Inflation and Exchange reta, results show that, …

Fafsa Completion: Considerations For An Extension-Led Statewide Nudge Campaign, Portia L. Johnson, Kacee Ross, Emily Hines

The Journal of Extension

Eight U.S. states have enacted legislation that mandates high school seniors to act on the Free Application for Federal Student Aid (FAFSA) before graduation. At least 10 other states are considering implementing similar FAFSA requirements. While proponents of the law believe it will affect postsecondary education and the workforce positively, dissenters argue that the policy is an unfunded mandate that taxes students and parents without offering adequate resources. This article synthesizes existing literature related to policy-related nudge campaigns to provide an Extension-led, cost-effective strategy to achieve the FAFSA mandate’s goal and improve citizens’ FAFSA completion behavior.

No More Empty Stadiums: A Meta Analysis Of Mega Sporting Events And Their Economic Impact, Tayte O. Gleason

Honors Thesis

Mega sporting events have faced increased scrutiny in recent decades for their negative economic impacts, externalities, and environmental effects. As multimillion dollar stadiums lay abandoned and future host city bids are withdrawn as public opinion on mega sporting events worsens with time, economists, governing bodies, and sports fans worry about the future locations of these massive sports festivals. In my thesis, I will conduct a meta analysis of articles measuring the various impacts and effects of hosting a mega sporting event. I will begin by performing an extensive literature review of the various factors contributing to a mega sporting event’s …

Recessionary Woes: Examining Economic Policies And Their Impact On Student Loan Debt And Housing Stability In The United States, Connor Recck

Senior Theses and Projects

Recessionary periods can seldom be avoided, but our modern public infrastructure has designed mechanisms to respond to these downturns. Economic policy has rapidly changed over the last 50 years, and the types of tools policymakers use have evolved with it. When looking at the Great Recession (2007-2009) and the COVID-19 recession (2020), a federal response structure was vital for the health of the macroeconomy. These recessionary periods serve as case studies for a review of economic policymaking activity in the United States since 2000. To examine the efficacy of the federal government’s fiscal and monetary infrastructure, policies focused on supporting …

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 …

The Relationship Of Fixed Asset Revaluation To Perception Of Performance: Evaluation Of Tax Policy, Andi Darmawan, Andar Ramona Sinaga, Arie Wibowo

Jurnal Akuntansi dan Keuangan Indonesia

This study aimed to know the relationship between fixed asset revaluation and the perception of the company's performance in the future. This research can advise the government on the effect of fixed asset revaluation on company performance when the government repeats the policy of reducing fixed asset revaluation taxes during the economic recovery during the pandemic. The methodology used in this study was mixed methods research, which collected and analyzed qualitative and quantitative data. This research used primary data from focus group discussions (representatives of industrial entities, tax consulting practitioners, public accountants, regulators, and related authorities) and questionnaires distributed to …

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.

Household Size And Household Wealth In Indonesia With The Influence Of Spatial Aspects, Thomas Soseco

Economics and Finance in Indonesia

Investigating household wealth should also include spatial analysis to capture the influence of location on the households’ net wealth and to avoid underestimation of the effect of the change of variables due to estimation that ignores spatial aspects. This paper examines factors influencing household net wealth in Indonesia with the influence of spatial lag using data from the Indonesian Family Life Survey (IFLS) for 1993–2014. The article relies on the Spatial Durbin Model (SDM) to analyze the data. Results show that household net wealth in Indonesia is spatially related to each other, and the spillover effect makes the change of …

Economic Growth And Co2 Emission In Asean: Panel-Ardl Approach, Feriansyah Feriansyah, Hari Nugroho, Aura Asyda Larre, Qori’Atul Septiavin, Cintya Khairun Nisa

Economics and Finance in Indonesia

This paper investigates the relationship between economic growth and CO2 emissions from 1994 to 2018 using a panel approach from eight ASEAN countries. We found an established result using the Panel ARDL Pooled Mean Group method. First, the panel Cointegration analysis shows a significant long-term relationship between GDP and CO2 emissions. Second, the error correction mechanism shows a stable and consistent value. Third, we found that GDP has a significant long-term effect on CO2 emissions in ASEAN countries. Fourth, our results also show that GDP significantly impacts CO2 emissions in the short term for four countries: Indonesia, Malaysia, Thailand, and …

The Nonlinear Impact Of Payment System Innovation On Financial System Stability In The Asean-4 Countries, Mahjus Ekananda

Economics and Finance in Indonesia

The increasing growth of financial system encourages payment system innovation that can affect financial system stability, particularly in ASEAN countries. This study explored a variety of payment system innovation, i.e. debit cards, credit cards, electronic money, and RTGS. The financial system stability index is measured by calculating the composite indexes of non-performing loans, Z-score from ROA and CAR, share price volatility, and yield bonds. The components of the indexes are structured to reflect risks from the banking, stock, and bond markets. The resulting index value indicates the level of risk in the financial system. A higher index specifies a higher …

The Impact Of Covid-19 Pandemic On Local Fiscal Revenue: Empirical Evidence From The Regions With Dominant Tertiary Sectors, Aisyah Nurrul Jannah, Khoirunurrofik Khoirunurrofik

Economics and Finance in Indonesia

The COVID-19 crisis has devastatingly affected social and economic sectors, including service or tertiary sectors such as banking, insuran;ce, hospitality, telecommunications, and industrial services. The pandemic has also aggravated fiscal conditions along with the slowing economy. This paper aims to assess the impact of COVID-19 on local own-source revenue in regions with dominant tertiary sectors and to examine how a fiscal incentive policy can increase the local own-source revenue. We applied the difference-in-difference panel random effect method by estimating total revenue and local own-source revenue as the outcome variables. The treatment variable is the districts/cities with dominant tertiary sectors of …

Simultaneous Relationship Between Financial Inclusion, Economic Growth, And Income Inequality In Sulawesi Island, 2011-2019, Adella Siti Nursaliyawati, Siskarossa Ika Oktora

Economics and Finance in Indonesia

Sulawesi Island has fairly high economic growth but is not followed by a significant decrease in income inequality. Therefore, a new strategy is needed to overcome these problems, one of them by increasing the role of the financial sector through financial inclusion. This study aims to analyze the relationship between financial inclusion, economic growth, and income inequality, as well as the factors influencing them in Sulawesi Island from 2011 to 2019. The analytical method used is the simultaneous equation model with panel data using the EC2SLS model. The results show that there is a simultaneous relationship between financial inclusion and …

Understanding Covid-19’S Impact On Local Transportation Revenue –A Mid-Crisis View From Experts, Asha Weinstein Agrawal, Serena Alexander, Ashley M. Hooper

Mineta Transportation Institute Publications

When COVID-19 swept into the United States in early 2020, it upended two patterns of behavior critical to transportation funding: how people traveled and where economic activity occurred. This study explored how, one year into the pandemic, experts in California believed that the COVID-19 pandemic was impacting local transportation budgets. We interviewed 34 funding experts who represented local transportation and public works departments, state officials, and municipal finance experts. In these conversations, conducted from December 2020 to March 2021, we asked interviewees how they saw COVID-19 impacting their overall local transportation budgets in the short and long term as well …

A Psychological Profile Of The Digitized Economy: Who Buys Cryptocurrencies, Nfts, And Meme-Stocks (And Why)?, Nicole Wolfe

Undergraduate Student Research Internships Conference

As the global digital economy continues to grow in interest and financial worth, it is imperative to harvest data to gain early information on this nuanced economy. Already, we have witnessed billions of dollars in losses and wins at the blink of an eye, encouragement to invest from well-known celebrities and politicians, and high anxiety from the newness, power consumption, and potential outcomes of this nuanced system. Stemming from the lack of solid evidence in this emerging field, we hope to gain more insight on the early players and variation within the digitized economy. Similarly, we hope to identify specific …

Agents Of Economic Resilience And The Role Of Islamic Approach Towards Financial Inclusion During Covid-19: A Case Of Pakistan, Aneela Kiran, Muhammad Imran Khan

3rd IBA SBS International Conference 2024

Pakistan is facing issues of health financing and food crises due to increasing prices of goods and services. It is important to reduce the risk food insecurity, and economic vulnerability. The aim of this study is to explore the Vulnerability of society to pandemic shocks and resilience of Islamic country like Pakistan and also to explore and identify the agents of Economic resilience in Pakistan. This study additionally explored the role of Islamic approaches toward financial inclusion during pandemic This study is based on multiple data types and methods. The study has used primary as well as secondary qualitative and …

Constructing Indonesian Digital Economy Index In Determining Economic Policy Priorities Amidst The Covid-19 Pandemic, Diah Rukmana Sari, Nasrudin Nasrudin

Economics and Finance in Indonesia

The constant increase in the number of internet users in Indonesia amid a sluggish economy caused by the Large-Scale Social Restriction (PSBB) policy is a great opportunity for a digital-based economy. However, the unavailability of relevant macroeconomic statistical measurements inhibits the digital economy from being determined as a policy priority amidst the Covid-19 pandemic. This study offers an alternative measurement of the digital economy of Indonesia by establishing Digital Economy Index (DEI). This study discovers that digital economic activities in Indonesia have grown rapidly with an average growth of almost nine percent quarterly. On the other hand, this study also …

Reforming The United States’ Currency Production, William Cather

Student Research Submissions

Since the 1980s, the debate about the one-cent piece’s production and use has been discussed throughout relatively recent Congressional history; and has involved economic, financial, industry-based, as well as numismatic groups to weigh in on the topic. The question arises: Why have other countries successfully changed their lower-denomination currency and converted their economic system into one that incorporates cash-rounding while the United States has struggled to do so?

By observing international examples of the obsoletion of low-denomination coinage and the implementation of cash-rounding, the proposed economic and financial reform has proved to work as an economically-sound alternative to the current …

Essays On Bank Performance, Strategic Behavior, And Community Development With A Focus On Minority Depository Institutions And The Political Economy Of Forgiving Student Loans, Guncha Babajanova

All Dissertations

I explore questions related to financial institutions, the accessibility of financial services, community development, and the political economy of forgiving student loans using the ideas from spatial economics, industrial organization, and public choice. Increased access to financial services improves the economic outcomes of individuals and firms in the community. Understanding sources leading to a lower accessibility of financial services is integral for an effective endeavor to lower barriers to financial services with far-reaching policy and economic implications. The economic literature provides evidence of the beneficial effects of increased access to financial services as well as the adverse effects of diminished …

Does It Pay To Be Good? The Performance Of Indonesian Green Companies From 2009 - 2018, Ega Annisa Rizti, Berli Martawardaya

Economics and Finance in Indonesia

In Indonesia, KEHATI Sustainable and Responsible Investment (SRI) Index, hereafter referred to as SKI, aims to raise public awareness and help pro-environmental investors by selecting 25 highly rated public companies that adhere to the internationally accepted green business standard. This paper compared the financial performance of the companies listed in SKI and their counterparts between the period of January 2009 and December 2018 by predicting their future opening price of stock, comparing the performance of SKI to JKSE market index, and examining their financial performance using ROA and ROE as dependent variables. The findings suggest that being included in SKI …

The Impact Of Foreign Investment On Firm Performance: Indonesia After The 2007 Fdi Reform, Nauval Hafiluddin, Arianto Arif Patunru

Economics and Finance in Indonesia

Foreign Direct Investment (FDI) plays a crucial role in the economy of Indonesia. The new FDI law passed in 2007 serves as a new milestone in the FDI regime in Indonesia. As the country implements the new regulation, the impact of foreign investment on firm performance becomes an interesting subject. This paper aims to estimate the effect of foreign investment on the productivity and contribution of firms in relation to the new FDI law in Indonesia. This study employed a combination of Propensity Score Matching (PSM) and Difference-in-Differences (DiD) methods to eliminate endogeneity problems and to examine causality. We discover …

The Effect Of Quantitative Easing On U.S. Stock Prices And Wealth Inequality, Griffin W. Phillips

Student Scholar Showcase

My thesis will investigate and try to find a casual relationship between Quantitative Easing, or “QE”, and the U.S. stock market since 2003. The secondary effects will then be investigated to see if stock prices impact wealth inequality. To find the causal relationship between the two a regression model will be used. It predicts the magnitude of effects for QE and other variables that may impact stock prices. Since 2007-2009, the Federal Reserve has used QE as a means to spur economic growth. This expansionary monetary policy has impacted many financial markets including the U.S. stock market. Finding the extent …

The Productivity And Future Growth Potential Of Indonesia, Mohamad Ikhsan, Sri Mulyani Indrawati, I Gede Sthitaprajna Virananda, Zihaul Abdi

Economics and Finance in Indonesia

The output per worker of Indonesia has been on a downtrend since 2010, with total factor productivity (TFP) and capital stock largely stagnant if not declining. This paper discusses stylized facts that may explain recent trends in the productivity and growth potential of Indonesia. The decomposition of output per worker reveals the declining contribution of human capital, which is also most negative among peer countries. The growth in labor productivity has been concentrated within sectors, implying room for gains from labor reallocations. A substantial share of employment and credit in Indonesia has shifted to the relatively unproductive service sectors, particularly …

Hudson Yards: Hybrid Capital's New Home, Massimo D. Scoditti

Dissertations, Theses, and Capstone Projects

This thesis focuses on the material and metaphysical aspects of the Hudson Yards, the largest private development in US History. With its roots in the administration of Michael Bloomberg, the site is representative of neoliberal ideology. It is also one in which cultural production is central. This is in terms of the rationalization and mythos of the building of the space itself and the dreamworlds created to obscure the mechanisms of extraction and accumulation that make such a complex possible. The Hudson Yards is particularly interesting because, as Cindi Katz might suggest, topography lines connect it to transnational capital. And …

Waqf Fund Management Through Micro Waqf Bank Program In Indonesia, Fachry Ganiardi Danuwijaya, Nurwahidin M.Ag

Journal of Strategic and Global Studies

Waqf is a muamalah activity that has a very important economic and social role in Islamic history. Waqf is one of solutions to the problem of poverty and social inequality in society. The establishment of the Micro Waqf Bank initiated by the government together with the Financial Services Authority (OJK) has played an important role as one of the new Islamic microfinance institutions in financial inclusion in Indonesia. This paper will discuss how the management of waqf funds through the Islamic Waqf Bank program based on pesantren in efforts to alleviate poverty and social inequality which has become a chronic …

The Case Of Singapore, Hwee Kwan Chow, Kong Weng Ho

Research Collection School of Economics

The economic impact of the Covid-19 pandemic on Singapore was more severe and protracted than the global financial crisis. Singapore responded with easing of the monetary policy stance, reinforcing financial stability, helping individuals to reduce debt obligations, easing business cashflow constraints, adjusting financial regulatory and supervisory protocols to cope with immediate challenges, and enabling the financial sectors to build long-term capabilities. Fiscal responses were unprecedented with four consecutive budgets and two ministerial statements, initially focusing on immediate assistance in respect of jobs, businesses, households, and later refined to providing more sector-specific assistance as the pandemic evolved with more detailed information …

Exporters In The Time Of Covid-19 Pandemic: Evidence From Indonesia, Realita Eschachasthi

Economics and Finance in Indonesia

The export of Indonesia has contracted rapidly in response to the COVID-19 outbreak. However, little is known about the crisis-trade relationship, which is important for the policymakers to design the relevant policies. To that end, this study examines how exporters adjust in the time of pandemic as well as estimates the impact of COVID-19 on export performance by using microdata of monthly export transactions from January 2019 to August 2020. This relationship is analyzed by employing intensive and extensive margins as well as a panel fixed effects specification. The result shows that capital goods, mainly manufactured products, have been hit …

The Impact Of School Operational Assistance Program Implementation At School Level On Senior Secondary Education Enrollment By Households: Evidence From Indonesia In 2007 And 2014, Fairuzah Pertiwi Kartasasmita, Eny Sulistyaningrum

Economics and Finance in Indonesia

Education is recognized worldwide as one of the key elements in developing the human capital of a nation for a prosperous future. Given an almost universal enrollment in primary education, many governments have shifted their focus on students motivation to continue to and finish their secondary education. The government of Indonesia has made extensive efforts in widening participation in education. With a growing budget for educational expenditure, various government programs have been implemented to assist students in their learning. One such program is the School Operational Assistance Program (BOS), which has been running for two decades. This paper reports on …

The Role Of Success Rate, Discovery, Appraisal Spending, And Transitioning Region On Exploration Drilling Of Oil And Gas In Indonesia In 2004-2015, Harry Patria

Economics and Finance in Indonesia

Petroleum exploration decision remains a subject of petroleum and economic studies for decades. Most of the studies discuss the investment decision by focusing on either a technical or economic perspective. In reality, economic, geological, and environmental factors are expected to determine the way investors make a decision. This study aims to increase the understanding of best practices in decision-making by scrutinizing integrative perspectives applying panel data of 32 basins in Indonesia in 2004-2015. This study provides several contributions to optimize decisions on wells drilled. First, this study derives an empirical model examining several plausible factors of economy, geology, and environment. …