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Stock Market Wealth Impact On Consumption Expenditure, Ramberto Jr. Sosa Cueto 2017 State University of New York College at Buffalo - Buffalo State College

Stock Market Wealth Impact On Consumption Expenditure, Ramberto Jr. Sosa Cueto

Applied Economics Theses

The purpose of this thesis is to explain the role of the stock market in determining aggregate consumer behavior. Theoretically, the life-cycle hypothesis is the main link between consumption and wealth. Additionally, a household’s corporate equities holdings form part of that wealth (a small proportion). However, stock market fluctuations account for a significant part of the variation in household wealth, because of the stock prices’ volatility.

In regression models, the estimated relationship between consumption and wealth is commonly positive and statistically significant. The empirical evidence in this paper suggests that the relationship between consumption and wealth is positive and ...


The Impact Of Commercial Banking Development On Economic Growth: A Principal Component Analysis Of Association Between Banking Industry And Economic Growth In Europe, Hugh L. Davis III 2017 University of Southern Mississippi

The Impact Of Commercial Banking Development On Economic Growth: A Principal Component Analysis Of Association Between Banking Industry And Economic Growth In Europe, Hugh L. Davis Iii

Dissertations

There are significant differences in the economic growth trajectories of Western, Central and Eastern Europe since the beginning of the democratic movements of the early 1990s. It may be observed that the more developed the region, the lower the growth rate. There are a number of explanations for this growth rate variance, e.g. cultural, resources, institutional and/or political. An explanation this research is pursuing is institutional - the correlation between banking development and economic growth. More specifically, does banking development have a greater impact on growth where economic development begins at a lower level?

Very little research has been ...


Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil 2017 University of Tennessee, Knoxville

Effects Of The Great Recession On American Retirement Funding, Tanner G. Hamil

University of Tennessee Honors Thesis Projects

No abstract provided.


An Inquiry Into The Effect Of The 2014 Russian Sanctions On European Gasoline Markets, Eric S. Peters 2017 University of Tennessee

An Inquiry Into The Effect Of The 2014 Russian Sanctions On European Gasoline Markets, Eric S. Peters

University of Tennessee Honors Thesis Projects

No abstract provided.


Inorganic Growth In The Organic Food Industry: Examining Barriers To Entry And Economic Rents, Jaime E. Staengel 2017 Murray State University

Inorganic Growth In The Organic Food Industry: Examining Barriers To Entry And Economic Rents, Jaime E. Staengel

Honors College Theses

Recently in the organic food industry, more lines of organic food are being introduced in stores as demand for organic products continues to grow. The organic food industry has witnessed high price premiums in the past which, according to economic theory, would in a perfectly competitive market attract entry until those price premiums decreased to the point where economic profits were zero. However, the USDA’s National Organic Certification Cost Share Program, or NOCCSP, was introduced in its current form in 2009 and offers reimbursement for farmers who are already certified with certification or recertification costs for their organic farming ...


Disaster And Recovery: The Effects Of Post-Disaster Aid On Economic Development, Joshua Drouin 2017 Murray State University

Disaster And Recovery: The Effects Of Post-Disaster Aid On Economic Development, Joshua Drouin

Honors College Theses

The effects of aid on economic development is topic typically studied from the perspective of corruption and allocative efficiency. We examine aid to less developed nations from a different viewpoint; assuming aid reaches the intended recipients, does it actually benefit them? We utilize Indonesia and the 2004 earthquake and tsunami as a natural experiment to observe the influx of aid, and compare the regions development before and after the disaster. By establishing a baseline before the disaster, and utilizing a new start point after the destruction, we can gauge the reconstruction efforts and observe whether aid is beneficial or harmful ...


Modeling Economic Systems As Locally-Constructive Sequential Games, Leigh Tesfatsion 2017 Iowa State University

Modeling Economic Systems As Locally-Constructive Sequential Games, Leigh Tesfatsion

Economics Working Papers

Real-world economies are open-ended dynamic systems consisting of heterogeneous interacting participants. Human participants are decision-makers who strategically take into account the past actions and potential future actions of other participants. All participants are forced to be locally constructive, meaning their actions at any given time must be based on their local states; and participant actions at any given time affect future local states. Taken together, these properties imply real-world economies are locally-constructive sequential games. This study discusses a modeling approach, agent-based computational economics (ACE), that permits researchers to study economic systems from this point of view. ACE modeling principles and ...


Review Prohibition Periods As A Signal Of Video Game Quality, Richard Jacob Applin 2017 Murray State University

Review Prohibition Periods As A Signal Of Video Game Quality, Richard Jacob Applin

Honors College Theses

Video game developers typically prohibit media outlets from publishing reviews of upcoming video games until a specified date and time. This study hypothesizes that review prohibition periods function as an economic signal of quality and thus impact sales. Specifically, this study predicts that permissive review embargo periods, relative to games with restrictive review embargo periods, are indicative of better quality games and in turn better sales. To test this conjecture the study collected a random sample of observations (video games) from four popular video game consoles and examined data regarding each observation’s review embargo period as well as data ...


Does Where You Grow Up Affect Your Chances Of Being Drafted Into The Nfl?, Walker Head 2017 WalkerHead

Does Where You Grow Up Affect Your Chances Of Being Drafted Into The Nfl?, Walker Head

Georgia College Student Research Events

The minimum rookie salary in the National Football League (NFL) is $450,000. First round picks often sign multi-year contracts worth more than $10 million. Players from some states are much more likely to receive college scholarships and eventually be drafted into the NFL, but it is not clear if this is a causal relationship. Utilizing data from Rivals and the NFL, I attempt to determine if where a player grew up has an impact on his chances of being drafted to play professional football. I focus on the top eight states, as it relates to percentage of recruits and ...


Do Farm Subsidies Affect Crop Diversification?, Chadwick O'Neal 2017 Georgia College

Do Farm Subsidies Affect Crop Diversification?, Chadwick O'Neal

Georgia College Student Research Events

The United States spends $20 billion each year on farm subsidies. Farmers face increased risk and income variation when their crop portfolio is less diversified. It’s possible for farm subsidies to decrease diversification if they are focused on specific crops. Utilizing state level subsidy and agricultural data from the Environmental Working Group, I used econometric analysis to estimate the effect of farm subsidies on crop diversification. I used the number of acres planted from the 15 top most subsidized and grown crops in the United States to derive my dependent variable, the Herfindahl-Hirschman index (HHI). The HHI is a ...


Does Race Impact Judicial Outcomes?, Kameron L. Griffin 2017 Georgia College and State University

Does Race Impact Judicial Outcomes?, Kameron L. Griffin

Georgia College Student Research Events

Over the past decade, many arguments over racial disparity have become the center of worldwide media attention. While many studies have gathered and revealed a consensus of the existence of racial inequality in mass incarceration rates and the criminal justice system, few have investigated the role that race plays in determining severity of punishment. Utilizing Waves 1, 3 and 4 of the Add-Health cross-sectional data set, this paper will estimate and examine the effect being in a minority has on judicial decisions in criminal court. By using traditional OLS procedure in STATA, I estimated the impact that race has on ...


Does An Adoptee’S Race Affect The Probability Of An Interracial Adoption?, Timothy C. Yates 2017 Georgia College and State University

Does An Adoptee’S Race Affect The Probability Of An Interracial Adoption?, Timothy C. Yates

Georgia College Student Research Events

I estimate the effect an adoptee’s race has on their chance of interracial adoption. I use data provided by the 2007 National Survey of Adoptive Parents for the linear regression, one of the only sources of individual data on adopted children. The study tests the idea that adopting outside of one’s race provides greater utility to the adopter since it is perceived as more altruistic relative to adopting within one’s race. For the purpose of the study, any circumstance where at least one adoptive parent differs in race from the adoptee is considered an interracial adoption. Ultimately ...


Does The Effect Of Driving Distance On Pga/Lpga Tour Earnings Differ Across Genders?, Conner R. Albright 2017 Georgia College and State University

Does The Effect Of Driving Distance On Pga/Lpga Tour Earnings Differ Across Genders?, Conner R. Albright

Georgia College Student Research Events

Since the early 21st century, the game of golf has seen a shift in importance of touch and finesse towards power and distance. Though many studies have observed the effects of individual golf statistics on earnings, none have examined if these effects fluctuate between genders. The purpose of my study is to show male and female professional golfers the effects of hitting the ball far and if their practice time might be better off spent practicing other areas of the game. By using player statistics from the 2015 PGA and LPGA cross sectional data set, this paper will examine if ...


Closing The Gender Gap: The Effect Of Political Gender Quotas And Female Employment Indicators In South America, Courtney Reid 2017 Georgia State University

Closing The Gender Gap: The Effect Of Political Gender Quotas And Female Employment Indicators In South America, Courtney Reid

Georgia State Undergraduate Research Conference

No abstract provided.


17-07 Profitable Horizontal Mergers Without Efficiencies Can Increase Consumer Surplus, Charles J. Thomas 2017 Chapman University

17-07 Profitable Horizontal Mergers Without Efficiencies Can Increase Consumer Surplus, Charles J. Thomas

ESI Working Papers

In a simple model I show consumer surplus can increase after competing sellers consummate a profitable merger that generates no cost savings. This finding contrasts sharply with the conventional wisdom that horizontal mergers without efficiencies must enhance sellers’ market power to be profitable, thereby harming buyers. The model fits industries in which individual buyers conduct distinct procurement contests for which sellers incur costs to participate, say to assess their product’s fit with the buyer’s preferences. Mergers benefit buyers by inducing stronger contest-level entry, echoing common claims from merging parties that their merger is beneficial because it creates a ...


17-06 The Ideological Roots Of Institutional Change, Murat Iyigun, Jared Rubin 2017 University of Colorado

17-06 The Ideological Roots Of Institutional Change, Murat Iyigun, Jared Rubin

ESI Working Papers

Why do some societies fail to adopt more efficient institutions in response to changing economic conditions? And why do such conditions sometimes generate ideological backlashes and at other times lead to transformative sociopolitical movements? We propose an explanation that highlights the interplay--or lack thereof--between new technologies, ideologies, and institutions. When new technologies emerge, uncertainty results from a lack of understanding how the technology will fit with prevailing ideologies and institutions. This uncertainty discourages investment in institutions and the cultural capital necessary to take advantage of new technologies. Accordingly, increased uncertainty during times of rapid technological change may generate an ideological ...


17-08 The Cultural Transmission Of Trust Norms: Evidence From A Lab In The Field On A Natural Experimen, Jared Rubin, Elira Karaja 2017 Chapman University

17-08 The Cultural Transmission Of Trust Norms: Evidence From A Lab In The Field On A Natural Experimen, Jared Rubin, Elira Karaja

ESI Working Papers

We conduct trust games in three villages in a northeastern Romanian commune. From 1775-1919, these villages were arbitrarily assigned to opposite sides of the Habsburg and Ottoman/Russian border despite being located seven kilometers apart. Russian and Ottoman Öscal institutions were more rapacious than Habsburg institutions, which may have eroded trust of outsiders (relative to co-villagers). Our design permits us to rigorously test this conjecture, and more generally, whether historically institutionalized cultural norms are transmitted intergenerationally. We Önd that participants on the Ottoman/Russian side are indeed less likely to trust outsiders but more likely to trust co-villagers.


Twin Crises And The Financial Accelerator, Andrew Calabrese 2017 Trinity College, Hartford Connecticut

Twin Crises And The Financial Accelerator, Andrew Calabrese

Senior Theses and Projects

The incidence of simultaneous banking and currency crises is a recurring theme in emerging economies operating under fixed or quasi-fixed exchange rates. This thesis conducts an empirical analysis of the underlying determinants of so called “twin crises” by applying a probit econometric model to a sample of 48 emerging economies during the 1980-2013 period. Current account deficits are found to be a robust driver of twin crises, with vulnerability increasing in the size of the deficit relative to GDP. There is also evidence that real exchange rate appreciation and higher levels of short-term debt relative to reserves increase crisis probability ...


Impact Of Quantitative Easing On The Term Structure Of Interest Rates, David Angelo 2017 Merrimack College

Impact Of Quantitative Easing On The Term Structure Of Interest Rates, David Angelo

Honors Senior Capstone Projects

The goal of this paper is to understand the term structure of interest rates. The term structure of interest rates shows how interest rates on the same assets with different maturities change. The term structure is displayed in what is known as a yield curve. While it is typically upward sloping, the yield curve shifts and changes slope as the economy changes. Looking at the history of yield curve can help predict different phases of the economy over time. During the recent financial crisis, a form of monetary policy, known as quantitative easing (QE), was used to lower long term ...


17-04 Deception And Reception: The Behavior Of Information Providers And Users, Roman M. Sheremeta, Timothy W. Shields 2017 Chapman University

17-04 Deception And Reception: The Behavior Of Information Providers And Users, Roman M. Sheremeta, Timothy W. Shields

ESI Working Papers

We investigate the behavior of information providers (underwriters) and users (investors) in a controlled laboratory experiment where underwriters have incentives to deceive and investors have incentives to avoid deception. Participants play simultaneously as underwriters and investors in one-shot information transmission games. The results of our experiment show a significant proportion of both deceptive and non-deceptive underwriters. Despite the presence of deceptive underwriters, investors are receptive to underwriters’ reports, gleaning information content, albeit overly optimistic. Within our sample, deception by underwriters and reception by investors are the most profitable strategies. Moreover, participants who send deceptive reports to investors, but at the ...


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