Economics Commons^™

Using Ordinary Least Squares Regression And Quantile Regression To Test The Capital Asset Pricing Model And The Fama And French Model In The Australian Equity Market, Yixaun Rui

Theses : Honours

Many studies have tested the CAPM and the Fama and French model in the Australian security market using the Ordinary Least Squares (OLS) method. However, this regression method just focuses on the relationship between means in the dataset, and equity market usually has some extreme situations in the tails. In this study, quantile regression will be used as well as OLS to provide a more comprehensive picture. This research will also compare the domestic and overseas indices in testing the CAPM and the Fama and French model. A twenty-year data sample composed of the 50 largest companies' equity returns will …

Pointless?, Jonah Yuen

CMC Senior Theses

A fundamental question in politics that has no conclusive answer to this day is whether or not campaign expenditures are pointless. Determining the role of campaign contributions and spending in elections is important for formulating campaign finance reform policy and also for understanding the public choice economics behind elections. Politicians seem convinced that money is an important component in any successful election as illustrated by numerous fundraisers and lofty goals of raising $1 billion for presidential campaigns, yet the empirical research on money’s role in elections has not reached a consensus. This project seeks to further explore the relationship between …

A Philosophical Framework For Conditional Cash Transfers, Jaron Abelsohn

CMC Senior Theses

Despite some recent economic progress, there is still widespread poverty and severe inequality in developing countries. According to the World Bank there are over 925 million hungry or undernourished people worldwide. More than 80 percent of people in the world live in countries whose income inequality is rising. Over 2.1 billion people globally live on less than two dollars a day, with over 880 million people facing absolute poverty and living on less than one dollar a day. Three out of four people living on less than $1 a day live in rural areas. These impacts have been magnified by …

Coase, Institutionalism, And The Origins Of Law And Economics, Herbert J. Hovenkamp

All Faculty Scholarship

Ronald Coase merged two traditions in economics, marginalism and institutionalism. Neoclassical economics in the 1930s was characterized by an abstract conception of marginalism and frictionless resource movement. Marginal analysis did not seek to uncover the source of individual human preference or value, but accepted preference as given. It treated the business firm in the same way, focusing on how firms make market choices, but saying little about their internal workings.

“Institutionalism” historically refers to a group of economists who wrote mainly in the 1920s and 1930s. Their place in economic theory is outside the mainstream, but they have found new …

Two-Sided Altruism, Social Insurance And Elderly Consumption, Yangyi Shan

Legacy Theses & Dissertations (2009 - 2024)

The purpose of this project is to examine the interaction of social insurance programs and family support for financing the elderly's consumption in an environment when agents exhibit two-sided altruism.

Monetary Policy And New-Keynesian Macroeconomics, Siddhartha Chattopadhyay

Legacy Theses & Dissertations (2009 - 2024)

New-Keynesian Dynamic Stochastic General Equilibrium (DSGE) models are important tools for analyzing modern monetary economics and policy. The genre of the New-Keynesian DSGE model is divided into two broad categories. These are, (i) the sticky price New-Keynesian DSGE model and (ii) the sticky information New-Keynesian DSGE model. My dissertation is a contribution to this rapidly growing literature, where I have analyzed some important issues of modern monetary economics and policy through the New-Keynesian DSGE models.

Household Structure, Asset Accumulation And Labor Supply, Ranajoy Chaudhury

Legacy Theses & Dissertations (2009 - 2024)

The aggregate savings rate in the U.S has fallen dramatically in the last few decades. One possible reason for this is the change in demographics. The fraction of unmarried people has increased as a result of rise in divorce rates and single parent households. In my dissertation, I explore the change in the household structure as the reason for the drop in aggregate savings rate. In order to understand the impact of demographics on savings rates, it is important to understand the wealth gaps across gender and marital status. This has led to the first chapter in my dissertation. In …

Self Assessed Health, Anchoring Vignettes, And Unobserved Heterogeneity In The Health And Retirement Study, Paul J. Noroski

Legacy Theses & Dissertations (2009 - 2024)

This dissertation examines the subtleties inherent to socioeconomic models of health. The relative contributions of unobserved heterogeneity and state dependence in explaining the dynamics of health in the U.S. are controlled for as the average partial effects of socioeconomic status are estimated. In addition to these investigations, I use anchoring vignette data from the Health and Retirement Study to investigate health perceptions in the U.S. and how they affect the comparability of self assessments of health across the population.

Micmac Farms: From Community Garden To Four-Season Farm And Retail Outlet, Jane Caulfield

Maine Policy Review

This short case study describes how Maine’s Micmac tribe is developing “Micmac Farms” from a community garden to a four-season agricultural business.

Revolutionary Critical Pedagogy For A Socialist Society: A Manifesto, Peter Mclaren

Education Faculty Articles and Research

"As advocates of revolutionary critical pedagogy, we stand at the turning point in this process. Critical pedagogy is an approach that we have chosen as a necessary (albeit insufficient) vehicle for transforming the world. The work that we do has been adapted from the pathfinding contributions of the late Brazilian educator, Paulo Freire, whose development of pedagogies of the oppressed helped to lay the foundations for approaches (feminist, post-structuralist, Marxist) to teaching and learning that utilizes the life experiences of students in and outside of traditional classrooms to build spaces of dialogue and dialectical thinking. We have renamed our critical …

Financial Stability Is A Volume Business: A Comment On The Legal Infrastructure Of Ex Post Consumer Debtor Protections, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Professor Melissa B. Jacoby's essay pays homage to Stewart Macaulay's classic study of the Magnuson-Moss Warranty Act, a U.S. federal consumer protection law that, according to Macaulay, was virtually unknown to the lawyers whose clients needed it the most. The moral of Macaulay's study is that even good consumer protection laws on the books often fail to deliver in action for complex cultural, institutional, and economic reasons. Yet reducing Professor Jacoby's essay to this very important moral undersells its contribution. A fragmented infrastructure for legal service delivery of the sort she describes does not merely fail consumers more often than …

Essays In Health Economics And Public Policy, Colin Darren Cannonier

LSU Doctoral Dissertations

This dissertation consists of three essays analyzing the role of public policy in affecting such outcomes as fertility, educational attainment and women’s preferences towards fertility and sexual activity. First, I investigate how a government educational policy affected the fertility behavior of teenagers in the United States. Specifically, Title V State Abstinence Education (SAE) program appropriates funding to states for the purpose of educating minors on abstinence before marriage. Using state level data to analyze the impact of abstinence education on the birth rates for teens; I find that for an average state, increasing spending by $50,000 per year on state …

Women's Job Search Behavior In The Egyptian Labor Market, Somaya Abdel Mowla

Poverty, Gender, and Youth

This study evaluates the difference between male and female job search behavior in the Egyptian labor market and the changes in this behavior between 1998 and 2006, in order to examine the effect of transition toward a market-oriented economy on job search activity. The paper also investigates the determinants of women’s job search behavior. The results reveal three alarming facts that raise worries about women’s labor force participation and their future labor market outcomes: women were less active job searchers than men, the gender gap in job search has widened, and this gap is even wider when excluding registration in …

Monetary Policy Shocks: Analyzing The Quasi-Narrative Approach, Daniel Matthew Groft

LSU Doctoral Dissertations

This dissertation empirically identifies exogenous changes in monetary policy and estimates their effects on the economy. The framework is the Romer and Romer (2004) quasi-narrative approach to identifying exogenous changes in monetary policy. The first essay replicates the Romer-Romer (RR) “quasi-narrative” measure of shocks and updates them with Greenbook forecasts to 2003. A key result is the quasi-narrative approach is robust to updates and corrections for serial correlation. An alternative, independently formed measure of the intended funds rate from Thornton (2005) is compared to the RR measure. The measures are highly correlated and display slight differences concerning the timing of …

Fdi And Human Capital In The Usa: Is Fdi In Different Industries Created Equal?, Miao Wang

Economics Faculty Research and Publications

We use data in the USA to study the effect of inward Foreign Direct Investment (FDI) in different sectors/industries on the state-level human capital, measured by the average years of tertiary schooling. We find that inward manufacturing FDI tends to lower the tertiary schooling in a host state while information FDI increases the tertiary schooling in a host state.

The Effect Of Location Based Tax Incentives On Establishment Location And Employment Across Industry Sectors, Andrew Hanson, Shawn Rohlin

Economics Faculty Research and Publications

This article examines the potential for location-based employment tax incentives to have a differential effect on establishment location and employment across industry sectors. The authors model the differential effect of the location-based federal Empowerment Zone (EZ) wage tax credit on equilibrium labor and total cost savings across industry sectors. The model guides the empirical work, as the authors test the effect of the program across industry sectors. The empirical analysis shows that location-based tax incentives have a positive effect on firm location in some of the industries their model predicts and a negative effect in industries that could be crowded …

Regulatory Impact Analyses Of Environmental Justice Effects, Spencer Banzhaf

ECON Publications

Recently, the US EPA has pledged to incorporate environmental justice considerations "into the fabric" of its rulemaking procedures. But finding an appropriate way to incorporate environmental justice considerations into policy-making has been a procedural challenge since President Clinton issued Executive Order 12898 over 15 years ago. In particular, environmental justice concerns tend to be overshadowed by efficiency considerations as embodied in benefit-cost analysis. Yet at the same time, both Presidents Obama and Clinton have issued orders to incorporate distributional and equity considerations into benefit-cost analysis, as well as the standard efficiency considerations.

This article argues that the environmental justice and …

Challenges To Intergovernmental Fiscal Relations In Pakistan: The Revenue Assignment Dimension, Roy W. Bahl, Musharraf Cyan, Sally Wallace

ECON Publications

Fiscal decentralization may be a popular political rhetoric, but it is not any easy policy sell. The share of total public expenditures made by subnational governments in developing countries has barely increased over the past three decades (Bahl and Wallace, 2005). Even in countries where expenditure decentralization had taken place (e.g. Indonesia), there has been far less movement toward revenue assignment to subnational governments.

This chapter is focused on the obstacles to success with this dimension of fiscal decentralization. We use the case of Pakistan where 35 percent of government expenditures are made by provincial and local governments but only …

Taxation In Asia, Jorge Martinez-Vazquez

ECON Publications

This publication presents an overview of tax policy and tax administration issues—how countries in Asia and the Pacific compare with the rest of the world in main taxes, revenue collections, tax morale, and others. The implications of reducing reliance on customs tariff revenues and of using the value-added tax on a broader basis, especially in the services sector, have been analyzed. This note suggests an agenda for reform by discussing whether there is space to increase national revenue collections, how to improve tax administration and enforcement, and how these reforms interact with the decentralization paradigm. The individual country performances, the …

Fiscal Decentralization In Asia: Challenges And Opportunities, Jorge Martinez-Vazquez

ECON Publications

This publication discusses the decentralization issues faced by countries of Asia and the Pacific. It includes practical suggestions on how to proceed in this area to achieve economic growth, macroeconomic stability, poverty and income distribution, services delivery improvements, and political accountability. This note elaborates on adequacy of local revenues and autonomy, expenditure management and clear service delivery mandates, horizontal imbalances and limited use of incentives in intergovernmental transfers, financing needs and local government borrowing, and local management capacities as the major challenges in a decentralized fiscal architecture. The recommendations to address the above challenges also note the long- term nature …