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Essays On Inequality And Macroeconomic Stability, Thomas Hauner 2017 The Graduate Center, City University of New York

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

All Graduate Works by Year: Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an economy with ...


A Study Of The Factors That Influence Consumer Attitudes Toward Beef Products Using The Conjoint Market Analysis Tool, Brian E. Mennecke, Anthony M. Townsend, Dermot J. Hayes, Steven M. Lonergan 2017 Iowa State University

A Study Of The Factors That Influence Consumer Attitudes Toward Beef Products Using The Conjoint Market Analysis Tool, Brian E. Mennecke, Anthony M. Townsend, Dermot J. Hayes, Steven M. Lonergan

Steven M. Lonergan

This study utilizes an analysis technique commonly used in marketing, the conjoint method, to examine the relative utilities of a set of beef steak characteristics considered by a national sample of 1,432 U.S. consumers, as well as additional localized samples representing undergraduate students at a business college and in an animal science department. The analyses indicate that among all respondents, region of origin is by far the most important characteristic; this is followed by animal breed, traceability, the animal feed used, and beef quality. Alternatively, the cost of cut, farm ownership, the non-use of growth promoters, and whether ...


The Effects Of Crop Insurance Subsidies And Sodsaver On Land Use Change, Ruiqing Miao, David A. Hennessy, Hongli Feng 2017 Iowa State University

The Effects Of Crop Insurance Subsidies And Sodsaver On Land Use Change, Ruiqing Miao, David A. Hennessy, Hongli Feng

Hongli Feng

There have long been concerns that federal crop insurance subsidies may significantly impact land use decisions. It is well known that classical insurance market information asymmetry problems can lead to a social excess of risky land entering crop production. We provide a conceptual model to show that the problem will arise absent any information failures. This is because the subsidy is (a) proportional to acres planted, and (b) greatest for the most production risky land. Using field-level yield data, we follow this observation through to establish the implications of subsidies for the extent of crop production, with particular emphasis on ...


Merger & Acquisition And Capital Expenditure In Health Care: Information Gleaned From Stock Price Variation, Wenjing Ouyang, Peter E. Hilsenrath 2017 University of the Pacific

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 ...


Characteristics Of Home Mortgage Lending To Racial Or Ethnic Groups In Iowa, Liesl Eathington, David Swenson 2017 Iowa State University

Characteristics Of Home Mortgage Lending To Racial Or Ethnic Groups In Iowa, Liesl Eathington, David Swenson

David Swenson

Estimates from the 2006 American Community Survey show home ownership rates for various racial and ethnic groups in Iowa. The table below measures the percentage of households living in owner‐ occupied housing units by the race or ethnicity of the householder. Iowa’s Black population had a home ownership that was nearly half as low as that for Iowa’s white, non‐Hispanic population. Asian and Hispanic rates were also substantially lower.


Neighborhood Diversity Characteristics In Iowa And Their Implications For Home Loans And Business Investment, Liesl Eathington, David Swenson 2017 Iowa State University

Neighborhood Diversity Characteristics In Iowa And Their Implications For Home Loans And Business Investment, Liesl Eathington, David Swenson

David Swenson

Iowa’s minority population represents 9.4 percent of the state’s population as a whole. This statistic understates the degree of racial and ethnic diversity in many geographic areas within the state and overstates diversity levels in others. An analysis of the racial and ethnic composition of the state’s 793 census tracts in 2000 revealed the following patterns.


Characteristics Of Home Mortgage Lending To Racial Or Ethnic Groups In Iowa, Liesl Eathington, David Swenson 2017 Iowa State University

Characteristics Of Home Mortgage Lending To Racial Or Ethnic Groups In Iowa, Liesl Eathington, David Swenson

David Swenson

Estimates from the 2006 American Community Survey show home ownership rates for various racial and ethnic groups in Iowa. The table below measures the percentage of households living in owner‐ occupied housing units by the race or ethnicity of the householder. Iowa’s Black population had a home ownership that was nearly half as low as that for Iowa’s white, non‐Hispanic population. Asian and Hispanic rates were also substantially lower.


Financial Sector Development And Agricultural Productivity, John J. Onoja 2017 University of San Francisco

Financial Sector Development And Agricultural Productivity, John J. Onoja

Master's Theses

Global concern is rising about the performance of the agricultural sector in view of its integral role in poverty alleviation, economic development and increasing nutritional demand. At the epicenter of the concern is declining productivity due to poor financial inclusion of sector leading to low investment and returns to agriculture. A cursory examination of the existing literature on the subject reveals quite varied dimensions to the analysis of agriculture productivity-financial development nexus. Focusing on the role of financial sector development as a catalyst to agricultural productivity, this study employs panel data and advances a fixed effects econometrics approach to empirically ...


A Financial Literacy Curriculum Project On Linear Functions In Algebra I Aligned With New York State Common Core State Standards, Michael T. Hughson Jr 2017 The College at Brockport

A Financial Literacy Curriculum Project On Linear Functions In Algebra I Aligned With New York State Common Core State Standards, Michael T. Hughson Jr

Education and Human Development Master's Theses

There is a lack of financial literacy curriculum available for teachers to support students learning of mathematical skills that are needed in real life. Financial literacy curricula can support students learning real life skills needed before independent living situations in college or career. Direct mathematical modelling and application can support students comprehension of the relationship between financial literacy and algebra. This curriculum highlights the ideology of the need to know drives learning and aligns real world financial literacy problems to the Common Core State Standards (CCSS) algebra standards.


Tertiary Degrees And The Market: Cross-Country Statistical Evidence, Boontharika Meesuwan 2017 CUNY Hunter College

Tertiary Degrees And The Market: Cross-Country Statistical Evidence, Boontharika Meesuwan

School of Arts & Sciences Theses

Substantial differences in stock market behavior exists across the world. Many determinants have been explored and empirically studied, yet the exact reasons for these differences remain unclear. The purpose of this paper is to contribute some insight into the question of why market behavior differs across countries and between social groups despite continuing globalization within financial markets. I hypothesize that there is a direct relationship between personality and trading behavior that directly affects market liquidity.


Consequences Of Information Asymmetry On Corporate Risk Management, Howard J. Merrill III 2017 Buffalo State

Consequences Of Information Asymmetry On Corporate Risk Management, Howard J. Merrill Iii

Applied Economics Theses

This paper will demonstrate the impact information asymmetry has on risk management. There is a noticeable impact within the context of consumer credit risk. If a firm is able to recognize this, they can make improved credit decisions that will reduce the consequences. The theoretical impact will be presented while depicting areas of risk management that are susceptible to information asymmetry. We find a direct impact on the development of scoring models, credit policies, and origination volume. These results hold for banks with portfolios consisting of consumer credit products and small business loans. Once known, banks can better tailor their ...


The Impact Of Money Supply And Electronic Money: Empirical Evidence From Central Bank In China, Rui Qin 2017 State University of New York College at Buffalo - Buffalo State College

The Impact Of Money Supply And Electronic Money: Empirical Evidence From Central Bank In China, Rui Qin

Applied Economics Theses

The purpose of this paper is to study the electronic money's influence on the money supply as well as the power of the central bank. We show in an illustrative theoretical model that electronic money will impact on money supply, especially affect M0 and M1. Using data of central bank in China during 1990 to 2010 and applying ordinary least squares (OLS) regression models, we find robust evidence that electronic money has a negative impact on M0, but a positive impact on M1. In addition, the central bank's abilities to control money supply can be affected by the ...


Financial Literacy In Local At-Risk Appalachia, Elijah R. Osborne 2017 East Tennessee State University

Financial Literacy In Local At-Risk Appalachia, Elijah R. Osborne

Undergraduate Honors Theses

Unfortunately, rural Appalachia is perennially one of the poorest areas of the United States. Many scholars have offered opinions as to why this trend of poverty continues in this region, but one potential cause has not been the subject of much research: do residents in Appalachia have a functional knowledge of the financial system, or even a simple understanding of basic savings, which is necessary for achieving certain levels of financial security?

We conduct a survey modeled after a national study which measures basic financial literacy in local Appalachia, expecting to find that at-risk Appalachians would have less financial literacy ...


Blockholders And Their Effect On Project Value: An Empirical Approach Of Understanding Ownership Concentration And Firm Value Using An Event Study Framework, Xuanming Guo 2017 Bowdoin College

Blockholders And Their Effect On Project Value: An Empirical Approach Of Understanding Ownership Concentration And Firm Value Using An Event Study Framework, Xuanming Guo

Honors Projects

This study uses an event study framework to find the relationship between ownership concentration and project value. I find that project value first increases with ownership concentration when block size, the percentage ownership of the largest blockholder, is smaller than 10%, then declines with ownership concentration when block size gets larger, and finally rises again when block size exceeds 30%. However, my research only suggests an ambiguous relationship between ownership concentration and firm value. Additionally, ownership concentration seems to affect both the timing of market responses and the market’s interpretation of large investment projects.


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 ...


Exploring Investor Attention In Financial Models, Anna Rodier 2017 Bryant University

Exploring Investor Attention In Financial Models, Anna Rodier

Honors Projects in Finance

The purpose of this study is to investigate whether stock prices are influenced by investor attention and how this, in turn, can be used to better advise the financial decisions of the everyday investor. Using weekly adjusted close data, weekly traded volumes, and weekly company searches using Google Trends, I tested my hypothesis that including the frequency of company searches, found through consumers using Google, in financial models will help better predict stock returns. Using S&P 500 company data from February 2012 to February 2017, frequency is a better predictor of price in comparison to trading volumes. But, to ...


Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, Kevin Tasley 2017 Southern New Hampshire University

Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, Kevin Tasley

Undergraduate Economic Review

This paper explores and expands upon the work of Hanushek and Wößmann (2007) whose accumulated findings propose increased educational spending provides only marginal returns in terms of student’s cognitive outcomes. This study constructs an OLS regression model to explore the significance of U.S. state education spending and financial allocations as independent factors of state-level average ACT scores over a 10-year time series. The model additionally accounts for self-selection and socio-economic status. The results of this study support Hanushek and Wößmann’s conclusions while also demonstrating evidence that shifts in allocations towards instructional spending, as opposed to increasing total ...


Determinants Of Housing Prices In Micropolitan Areas, Steven Beets 2017 Pittsburg State University

Determinants Of Housing Prices In Micropolitan Areas, Steven Beets

Paper Presentations

Housing costs are the most significant costs for the average household budget and have significant implications for quality of life and standard of living. Most studies on determinants of housing costs have been on metropolitan ar- eas. Micropolitan areas were first classified in 2003 by the Office of Management and Budget and are defined as having at least one urban cluster with a population of at least 10,000 but less than 50,000. Micropolitan areas are therefore a new classification of urban areas and there have not been many studies on the cost of housing in micropolitan areas. This ...


Capital Structure And Firm Boundaries With Opportunistic Stakeholders, Madhav Shrihari ANEY, Elie APPELBAUM, Sanjay BANERJI 2017 Singapore Management University

Capital Structure And Firm Boundaries With Opportunistic Stakeholders, Madhav Shrihari Aney, Elie Appelbaum, Sanjay Banerji

Research Collection School Of Economics

We explore the impact of strategic behaviour between three major stakeholders, namelyequity holders, debt holders, and a supplier of a critical input, on the choice of a firm’s capitalstructure and its organisational design, determining in-house production versus outsourcing theprocurement of the critical input. We show that an opportunistic coalition of the supplierand debt holders can trigger strategic bankruptcy even when the firm is solvent. Equity holdersrespond to this by either eliminating the supplier by producing the input in-house, or by reducingthe exposure to debt by funding the firm’s capital requirement through equity. Both responsescreate inefficiency since production of ...


Mexico Consensus Economic Forecast, Volume 20, Number 2, Thomas M. Fullerton Jr., Adam G. Walke 2017 University of Texas at El Paso

Mexico Consensus Economic Forecast, Volume 20, Number 2, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.


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