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- Bank failures (2)
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Articles 1 - 5 of 5
Full-Text Articles in Regional Economics
The American Dream: Living Paycheck To Paycheck, Benjamin Henwood
The American Dream: Living Paycheck To Paycheck, Benjamin Henwood
Richard T. Schellhase Essay Prize in Ethics
A debate that has gained traction due to recent economic circumstances is how the United States government should raise the federal minimum wage, and if they should raise it at all. I propose the United States government should raise the federal minimum wage by implementing a living wage or tying the federal minimum wage to inflation. Implementing a living wage would benefit workers as it would cover the cost of living in their geographic area. It would also benefit employers as their employees would be getting paid according to their needs rather than being paid a blanket wage that may …
Examining The Impact Of Casinos On Economic Development: A Spatial Analysis Of The Counties In The Mid-Atlantic Region, Andrew J. Economopoulos
Examining The Impact Of Casinos On Economic Development: A Spatial Analysis Of The Counties In The Mid-Atlantic Region, Andrew J. Economopoulos
Business and Economics Faculty Publications
Few have formally evaluated the economic impact of casinos, and yet most agree that it is crucial in estimating the net benefit to society. A new casino investment should stimulate economic activity in the immediate region, but its operations could potentially reduce employment and incomes within the industry. Grinols outlines the factors that could lead to positive or negative growth from the investment, but what is critical to the empirical validation of the investment is the definition of region. Since data is geographically limited to political boundaries, it is necessary to employ a spatial methodology that captures the impact beyond …
Do Pennsylvania Casinos Cannibalize Pa State Lottery Revenues?, Andrew J. Economopoulos, William Stolle
Do Pennsylvania Casinos Cannibalize Pa State Lottery Revenues?, Andrew J. Economopoulos, William Stolle
Business and Economics Faculty Publications
The first Pennsylvania casino opened its doors in 2006. Studies of other states, and nationally, indicate that casinos cannibalize lottery revenues as consumers substitute lottery spending for casino spending. Pennsylvania time-series data and cross-sectional data for each county suggests that higher casino wagering leads to lower lottery spending. Unlike the other studies, Pennsylvania's rate of cannibalization is relatively low where state lottery revenues decline by five to fifteen cents for each dollar of casino revenue gained. About half of the cannibalization takes place in the counties where the casino resided.
Free Bank Failures In New York And Wisconsin: A Portfolio Analysis, Andrew J. Economopoulos
Free Bank Failures In New York And Wisconsin: A Portfolio Analysis, Andrew J. Economopoulos
Business and Economics Faculty Publications
Rolnick and Weber found that a sharp decline in asset prices led to bank panics and, ultimately, bank failures during the free banking era. An examination of New York and Wisconsin free bank portfolios prior to a fall in asset prices indicates banks that weathered the turmoil held significantly different portfolios than closed banks. In general, solvent banks held more loans and specie, and issued more deposits and less bank notes than closed banks.
The Impact Of Reserve Requirements On Free Bank Failures, Andrew J. Economopoulos
The Impact Of Reserve Requirements On Free Bank Failures, Andrew J. Economopoulos
Business and Economics Faculty Publications
The Free Banking Era, noted for numerous bank failures and large creditor losses, has been traditionally viewed as the experiment in laissez-faire banking that failed. Current researchers have found evidence suggesting that bank failures and creditor losses were limited to selected states and have linked the cause of bank failures to periods of falling asset prices. Free banks were required to hold long-term assets as primary reserves for short-term liabilities. Current banking theory suggests that the maturity imbalance between assets and liabilities increases the free bank's exposure to interest rate risk. Some states imposed a secondary reserve, the specie reserve …