Economics Commons^™

Cross-Exchange Crypto Risk: A High-Frequency Dynamic Network Perspective, Yifu Wang, Wanbo Lu, Min-Bin Liu, Rui Ren, Wolfgang Karl Hardle

Sim Kee Boon Institute for Financial Economics

Cross-exchange crypto trading presents inherent risks, particularly for centralized exchanges. Investors observe exacerbating crypto volatility and counterparty risk and would like to quantify these elements of crypto trades. The multiple exchanges require a multivariate view on the structures of risk spillover across exchanges. Here, a Multivariate Heterogeneous AutoRegression (MHAR) model is designed and analyzed, accommodating the stylized facts of crypto markets, including 24/7 trading and the long-memory effect on return variations. The proposed MHAR approach clearly reveals the intensity of interconnectedness among exchanges during extreme events, e.g., the Bitcoin market. Additionally, one observes extremely volatile eigenvector centralities of Futures Exchange …

Bubbly Booms And Welfare, Feng Dong, Yang Jiao, Haoning Sun

Research Collection School Of Economics

We show the competing effects of a housing bubble on the real economy by developing a multi-sector dynamic model with housing production. On the one hand, firms can sell or collateralize their housing, so a housing bubble helps firms obtain credit to finance their investment and expand production. On the other hand, a boom in the housing sector crowds out labor in the non-housing sector. We show that housing booms can reduce social welfare both in the steady state and in the transitional dynamics only when the production externalities in the non-housing sector are sufficiently large. We quantitatively evaluate our …

Can Corporate Sustainability Performance (Csp) Overcome Indonesia's Corporate Debt Problems?, Johnson Ferry Febrian, Nora Sri Hendriyeni

Jurnal Akuntansi dan Keuangan Indonesia

Based on IMF publications (2022), Indonesian companies have a risky debt level that may cause bankruptcy, so companies are required to make leverage adjustments to return the debt to its optimal level. In recent years, corporate sustainability performance (CSP) practices have been proven to improve performance and overcome financial problems such as debt by integrating sustainability aspects into business processes. Based on stakeholder theory and trade-off theory, this study aims to examine the effect of CSP on leverage adjustment and the role of competitive advantage, equity mispricing, profitability, and firm size in moderating this relationship. This study used a sample …

Policy Frameworks And Citizens’ Use Of Fintech Solutions: The Pros And Cons In Egypt, Salma Al-Mohamady

Theses and Dissertations

This thesis provides a comprehensive analysis of the significant influence of financial technology (FinTech) on the banking industry, consumer finance, and economic growth. It specifically concentrates on the swiftly changing FinTech environment in Egypt. The study investigates the impact of incorporating advanced technologies on worldwide financial practices, which has significantly transformed traditional banking models and facilitated the emergence of inventive financial services. The transition is clearly apparent in Egypt, where the expansion of FinTech has been driven by advances in regulations, adaptation to technology, and a population that is becoming more comfortable with digital solutions.

Using a combination of quantitative …

Unraveling The Nexus: Social Spending, Development, And Breaking The Cycle Of Poverty, Yasmin Shehata

Theses and Dissertations

This study examines the role of development, as indicated by the Human Development Index (HDI), in shaping the connection between social public spending on health, education, and social protection and poverty in terms of the poverty headcount ratio at $3.65/day (2017 PPP). Empirical analysis is used to this end, employing a panel dataset of 68 countries at varied stages of development over the period 1995-2021. The empirical model is estimated using the Fixed Effects Two-stage Least Squares (2SLS). It is also re-estimated using the Instrumental Variable Generalized Method of Moments (IV-GMM) and Limited Information Maximum Likelihood (LIML) to test the …

The Effect Of Fiscal And Monetary Policy On Public Debt In Egypt, Malak Mohamed

Theses and Dissertations

The thesis aims to examine the effect of monetary policies and fiscal policies on public debt in Egypt during the period from 2006 until 2021. Egypt is witnessing aggravated levels of debt, with limited fiscal and monetary space. Therefore, the objective of the paper is to analyze the effect of discount rates, inflation rates, subsidies, taxes and economic growth on debt-to-GDP in Egypt using a VAR model with an extended test of Impulse Response Function. The results suggest that a positive shock in government expenditures initially decreases public debt but leads to a fluctuating increase in the debt-to-GDP ratio in …

Three Essays Applying Dynamic Models In Economics, Finance, And Machine Learning, Lucas C. Dowiak

Dissertations, Theses, and Capstone Projects

This dissertation is a composition in three parts. Collectively, these essays investigate dynamic methods and their application in the fields of Economics, Finance, and Machine Learning. It pulls liberally from all three. In particular, this dissertation makes repeated use of multi-state modeling frameworks popular in Economics to bring a faceted view to the underlying data and detect its hidden heterogeneity. The challenge of modeling financial assets and estimating their dependence is another focus. For stimulus, concepts in the Machine Learning field are brought in to aid or compete with established econometric techniques.

Econometric Applications of the Hierarchical Mixture-of-Experts

In this …

Turning Movements Into Markets: How Corporations Co-Opt Cultural Values For Profit, Anthony J. Capote

Dissertations, Theses, and Capstone Projects

In this dissertation, I explore how corporations engage in values-based marketing in the 21^st Century. It is hardly a new phenomenon for corporate advertising to co-opt popular cultural values and trends. With the rise of platform capitalism — under which digital platforms generate wealth by cultivating our online data and resell it to advertisers — as well as the political and social context of the Trump Administration, however, major corporations have entered a new phase in the marketing framework that aims to attract consumers based specifically on their cultural and political values. Using a mixed methods approach I explore …

Essays In Applied Microeconomics, Ege Aksu

Dissertations, Theses, and Capstone Projects

This dissertation consists of two chapters that investigate the effect of public health policies on health outcomes.

The first chapter evaluates the impact of the extensive health care reforms enacted between 2003–2013 under the Health Transformation Program (HTP) in Turkey on maternal and infant health outcomes for the poor. By focusing on a specific insurance program (Green Card) expansion that was a part of HTP, I explore changes in infant survival, fertility, and children’s vaccination status. Before 2004, all public health insurance beneficiaries (the control group) were covered for outpatient services, including prenatal and postnatal doctor visits, gestational diabetes screenings, …

Black Food Geographies And The Politics Of Resistance In The Brick City. An Intersectional Analysis Of Black Food Provisioning Practices, Food Access, And Racial Food Inequities In Newark, New Jersey From 1666 – 2020, Angelika Winner

Dissertations, Theses, and Capstone Projects

This work studied Black food geographies in Newark, NJ, which represent alternative food provisioning practices and strategies working within but also parallel to traditional food geographies and exist within and despite of foodscapes of domination. Black food geographies not only include the spatial agency of Black residents but also entail the structural intersectionality and organized abandonment that Black residents currently experience as well as their historical production. Thus, food access of Newark’s Black resident was analyzed with a three-pronged mixed methods research design, a supply-centered analysis from a Positivistic perspective, a political economy-centered historical analysis from a Marxist perspective, and …

Essays On Monopoly Power In Housing Rental Markets, Goncalo Filipe Pessa Figueiredo Costa

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters on market power in housing rental markets. It introduces the concept of dynamic monopoly power in housing rental markets, develops methods to estimate that form of market power, and uses its analytical lense over the New York City (NYC) housing rental market.

In the first chapter, I formulate a search model in which market frictions give landlords rent-setting (dynamic monopoly) power. This model incorporates search frictions in the spirit of Manning’s (2003) monopsonistic labor market framework. In this setting, the demand faced by individual landlords (i.e., residual demand) results from an equilibrium between tenants’ …

Empirical Essays On Retail Investors, Institutional Investors, And Anomalies, Yuqing Yang

Dissertations, Theses, and Capstone Projects

This dissertation consists of five chapters on market efficiencies through retail and international mutual fund investors.

Chapter 1 This chapter briefly introduces this dissertation.

Chapter 2 This chapter Anomalies Never Disappeared: The Case of Stubborn Retail Investors delves into the “stubborn” retail investors and finds that anomalies traded against by retail investors never disappear in the long run, defying the conventional wisdom that anomalies are disappearing in recent years as market efficiency improves. Incorporating retail trading, I develop asset pricing models that surpass existing prominent models in explaining these long-run alphas. I hypothesize that retail investors exacerbate anomalies: the more …

The Political Economy Of The Igbos Of Southeastern Nigeria: Analyzing The Igbo Entrepreneurship Model (Iem), Eze Simpson Osuagwu

Doctoral Dissertations and Projects

This study examines the relationship between culture and economic development using the case of the Igbo ethnic group of Southeastern Nigeria. The Igbo traditional apprenticeship system has been widely described in contemporary political economy literature as a model for stakeholder capitalism and shared prosperity for sustainable entrepreneurial development. This study draws a sample of 2,000 entrepreneurs from five business clusters across Nigeria in Aba, Onitsha, Nnewi, Lagos and Abuja to ascertain if there is a significant difference between the entrepreneurs who passed through the traditional apprenticeship system and those who did not. The study employs a Propensity Score Matching technique …

The Safest Suburbs In The Mountain West, 2023, Ivan Sun, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr.

Cities & Metros

This fact sheet presents data from the Smart Asset report, “America’s Safest Suburbs – 2023 Study,” which examines the 370 safest suburbs in the United States and the 35 most affordable safest suburbs. This fact sheet focuses on data for the nine safest suburbs and most affordable safe suburbs in the Mountain West states of Arizona, Colorado, Nevada, and Utah ranking among the top 100 safest suburbs in the United States.

Return On Investment (Roi) For Undergraduate Degrees At The University Of Nevada, Las Vegas (Unlv) And The University Of Nevada, Reno (Unr), Riley Ruff, Miguel Soriano Ralston, Caitlin J. Saladino, William E. Brown Jr.

Higher Education

This fact sheet examines return on investment (ROI) data for undergraduate degrees at the University of Nevada, Las Vegas (UNLV) and the University of Nevada, Reno (UNR). The original report from the Foundation for Research on Equal Opportunity (FREOPP) includes data on the ROI for various undergraduate degree programs across the United States.

Exploring Wasta And Religious Values And Principles: A Case Study Of Employee Engagement In The Uae Hospitality Sector, Reimara Valk, Lina Yousif, Lynne Mcgarvey

Arab Economic and Business Journal

The purpose of this paper is to explore the role of the socio-cultural concept ‘Wasta’ as well as religious values and principles in employee engagement in the hospitality industry in the United Arab Emirates, embedded in the country’s socio-economic, cultural and institutional context. This study investigates employee engagement through the theoretical lenses of Positive Psychology and Positive Organizational Scholarship. Drawing on data from semi-structured interviews and focus groups with 41 employees in the case study hotel in Dubai, findings from this case study research show that the manifestation of EE is influenced by a country’s religious and socio-cultural context.

Financial Literacy And Aspirations: Experimental Evidence From Eastern Uganda, Ester Agasha

Master's Theses

Financial literacy and the cultivation of aspirations are pivotal in empowering individuals and fostering economic growth, particularly within disadvantaged com munities. Although prior research has extensively analyzed the individual effects of financial education and motivational interventions on economic behaviors, there is less clarity on how the synergy between them can collectively impact the socioe conomic status of individuals in developing economies, especially women. Through randomized control experiment(RCT), this study explored the effectiveness of two interventions; 1) a financial literacy digital gaming application and, 2) an aspirations intervention (a short video documentary and a follow-up curriculum) in not only enhancing financial …

What The Stork Brought: Endogenous Fertility Preferences, Lucas Fortier Borden

Master's Theses

Where most existing literature on fertility preferences has described how fertility preferences shape outcomes, this paper provides insight into how the sex of a recent birth affects a mother’s fertility preferences. Utilizing data from the Demographic Health Survey from 1985-2020 in 81 countries containing 309,238 mothers who gave birth in the past 12 months and who have equal to or fewer than three children, I employ OLS with two-way fixed effects as my primary specification, examining the effects of the plausibly exogenous sex of a recent birth on sibship sex composition preferences. Results show that a recent daughter birth increases …

Can Aspiration And Financial Literacy Interventions Relieve Internal Constraints? Evidence From Uganda And India, Veronika Divis

Master's Theses

Can aspiration and financial literacy interventions relieve internal constraints? We address this question through a novel experiment in Uganda and India, using 617 participants in 89 already existing borrowing groups of microfinance institutions. We carry out aspiration and financial literacy treatments as well as a combined treatment group which received both treatments to measure effects on aspirations, hope, agency, and pathway indices. Results show that receiving the aspirations treatment led to 0.34, 0.42, 0.18, and 0.40 standard deviation increases in aspirations, agency, pathways, and aspirational hope, respectively. The game and combined treatment groups also showed positive effects but lacked statistical …

Ijir Title Page And Table Of Contents Vol. 4(1), Kevin A. Griffin, Razaq Raj, Giovanni Ruggieri

International Journal of Islands Research

Title Page and Table of Contents for Vol. 4(2023), International Journal of Islands Research