Digital Commons Network^™

An Inquiry Concerning Japanese Yen Interest Rate Swap Yields, Tanweer Akram, Khawaja Mamun

WCBT Working Papers

This paper econometrically models Japanese yen (JPY)–denominated interest rate swap yields. It examines whether the short-term interest rate exerts an influence on the long-term JPY swap yield after controlling for several key macroeconomic variables, such as core inflation, the growth of industrial production, the percentage change in the equity price index, and the percentage change in the exchange rate. It also tests whether there are structural breaks in the dynamics of Japanese swap yields and related variables. The estimated econometric models show that the short-term interest rate exerts an important influence on the long-term swap yield in some periods but …

Interaction Between Monetary And Fiscal Policies: Evidence From Egypt, Mouchera Karara, Mona Fayed, Heidi Aly

Topics in Middle Eastern and North African Economies

Surviving the COVID-19 crisis would not have been possible without the unprecedented support measures implemented worldwide. Monetary and fiscal policy tools had to be used aggressively and innovatively to withstand the adverse impact of the crisis in 2020. In order to effectively design policy interventions to achieve the desired targets while accounting for potential trade-offs, an understanding of the interaction between monetary and fiscal policies becomes a prerequisite. The changing global and local economic conditions call for rigorous and continuous research on the topic to guide policy makers in navigating through the critical times ahead of the Egyptian economy and …

The Impact Of Local Broadband Access On High School Graduation Rates, Eugen Brazdil

UNLV Theses, Dissertations, Professional Papers, and Capstones

The United States government has been funding infrastructure expansions and upgrades to bring Internet access to schools and households. While this broadband funding has increased access and adoption, it is unclear how improvements in Internet access affect student performance because Internet access has both productivity and distraction effects. The Internet provides students with access to vast amounts of educational content, instructional videos and other valuable resources that increase productivity. It also provides students access to social media, video games and other forms of entertainment that distract students and reduce student performance. While the literature shows that advances in technology (computers) …

Essays In Urban Economics, Terrence Jewell

All Dissertations

My dissertation focuses on the impact of housing demand shocks on neighborhood change and internal migration. My first chapter uses house prices to measure the amenity value households place on new stadium construction in a hosting city. The second chapter studies the impact of two amendments to California’s Proposition 13. Namely, Proposition 60 and Proposition 90 allowed individuals over age 55 to transfer the assessed value of their homes to a replacement dwelling of equal or lesser value in the same county or different county, respectively, without a change of ownership reassessment. In this chapter, I study the removal of …

Improved Marginal Likelihood Estimation Via Power Posteriors And Importance Sampling, Yong Li, Nianling Wang, Jun Yu

Research Collection School Of Economics

Power posteriors have become popular in estimating the marginal likelihood of a Bayesian model. A power posterior is referred to as the posterior distribution that is proportional to the likelihood raised to a power b∈[0,1]. Important power-posterior-based algorithms include thermodynamic integration (TI) of Friel and Pettitt (2008) and steppingstone sampling (SS) of Xie et al. (2011). In this paper, it is shown that the Bernstein–von Mises (BvM) theorem holds for power posteriors under regularity conditions. Due to the BvM theorem, power posteriors, when adjusted by the square root of the auxiliary constant, have the same limit distribution as the original …

Uniform Nonparametric Inference For Time Series Using Stata, Jia Li, Zhipeng Liao, Mengsi Gao

Research Collection School Of Economics

In this article, we introduce a command, tssreg, that conducts nonparametric series estimation and uniform inference for time-series data, including the case with independent data as a special case. This command can be used to nonparametrically estimate the conditional expectation function and the uniform confidence band at a user-specified confidence level, based on an econometric theory that accommodates general time-series dependence. The uniform inference tool can also be used to perform nonparametric specification tests for conditional moment restrictions commonly seen in dynamic equilibrium models.

Teaching In The Right Context: Textbook Supply Program, Language, And Vocabulary Ability In Vietnam, Tomoki Fujii, Maki Nakajima, Sijia Xu

Research Collection School Of Economics

An ethnic gap in education is prevalent around the world. This remains the case in Vietnam, a country that has achieved phenomenal economic growth and raised the educational attainment of the public. This paper examines the impact of language policy reorientation represented by the textbook supply program in Vietnam on the ethnic gap in children's learning measured by a vocabulary test. Applying difference-in-differences estimation to the Young Lives data between 2006 and 2015, we show that the program became more effective in narrowing the ethnic gap as the education policy became reoriented toward ethnic minority children. A causal mediation analysis …

Micro-Targeting Consumers To Reduce Consumptive Externalities, Tamara L. Sheldon, J. R. Deshazo, Bronwyn Lewis Friscia

Faculty Publications

When correcting for consumption externalities policymakers may employ economic incentives, a uniform moral suasion intervention, or various micro-targeted moral suasion interventions. To assess the relative effectiveness of these policy interventions, we randomly assign consumers to different moral suasion treatments designed to increase their willingness to pay for energy efficient light bulbs. Both economic incentives and single moral suasion interventions have similar modest effects on household willingness to pay for this durable good. However, we find that optimally targeting moral suasion messages increases consumers' choice of the most efficient light bulbs even more than large subsidies.

Vietnam’S Gdp: Re-Assessing Growth Rate And Identifying An Alternative Indicator, My Linh D. Nguyen

Honors Theses

Since the economic reform known as Doi Moi (Renovation) in 1986, Vietnam has changed from one of the world’s poorest to a middle-income country in one generation (USAID, 2022). The country has consistently registered high and stable economic growth since the reform, averaging 6.3% from 1985 to 2021 (World Bank, 2022). High growth rate of gross domestic product (GDP) is good news, but it has also raised questions that go both ways. On one side, there is much speculation that the government of Vietnam has manipulated economic statistics, compared to the case of China and India. As quoted in Kinh …

Treatment Of Oral Vascular Malformations With Ethamolin: A Report Of Two Cases, Maria Clara De Moura Santos Coelho Ferreira, Marco Vinícius De Sales Lima, Anna Laura Almeida Barreto, Dárcio Kitakawa, Alexandre Do Prado Scherma, Felipe Peralta, Luis Felipe Das Chagas E Silva De Carvalho

Journal of Dentistry Indonesia

A hemangioma is a benign vascular neoplasm, relatively common in the head and neck. In the oral region, it affects the tongue, gums, mucosa, palate, and lip. Its size can vary from millimeters to centimeters, characterized as a purplish or reddish lesion. The present study aims to present two clinical cases of hemangiomas, the first of a male patient treated by sclerotherapy and the second of a female patient in which she was treated with ethamolin and later surgical treatment. It was concluded that sclerotherapy, in addition to being a safe treatment, managed to drastically reduce the initial size of …

A Two-Year Retrospective Evaluation Of Cone Beam Computed Tomography Indications In Pediatric, Adolescent And Adult Patients, Zeynep Betül Arslan, Esra Ceren Tuğutlu

Journal of Dentistry Indonesia

Objective: The objective was to evaluate cone-beam computed tomography (CBCT) indications and distribution in pediatric, adolescent and adult patients. Methods: A total of 1013 CBCT images were reviewed in detail from the electronic patient database. The patient’s age, gender, CBCT indications and acquisition sites, referral departments, reason for referral, incidental findings in the imaging field and the presence of artifacts in the CBCT images were all recorded. The European DIMITRA project recommendations were used to categorize CBCT indications in the children and the European Guidelines were used for adults. Results: From a total of 1013 images; 5.3% …

Treatment Of Gingival Fenestration Using Mucoperiosteal Flap With Connective Tissue Graft: A Report Of Two Cases, Swati Jaglan, Shikha Tewari

Journal of Dentistry Indonesia

Fenestration term is derived from the Latin word ‘fenestra’ means ‘window’. Gingival fenestration is not found in routine while its actual occurrence is assumed to be higher. Additionally, if these mucogingival defects persist for a longer duration it may lead to adverse outcomes like compromised esthetics, hypersensitivity, plaque and calculus deposition, and susceptibility to dental caries. Present cases of gingival fenestration were successfully treated by using full-thickness flap elevation with connective tissue graft placement. Two cases were presented with the accumulation of plaque and calculus and having gingival fenestration to the respective sites. After phase 1 therapy, full thickness flap …

Assessing The Impact Of Supply Chain Management Processes On The Lebanese Industry Of Goods And Services During Times Of Uncertainty, Atef Harb, Mony Trad

Arab Economic and Business Journal

In general and through the three functions of Marketing, Operations and Finance, value for the customer is created. However, firms seldom create this value by themselves. Instead, they rely on a variety of suppliers who provide everything from raw materials to accounting. These suppliers when taken together can be thought of a supply chain. Being so diversified, the Lebanese firms have a huge challenge in setting an efficient supply chain process, thus, the firms and through their professional teams were able to set a detailed list of requirements to be followed to consolidate its data and to manage properly the …

Climate Change And Corporate Cash Holdings: Global Evidence, Siamak Javadi, Abdullah Al Masum, Mohsen Aram, Ramesh P. Rao

School of Economics and Finance Faculty Publications

Using data from 41 countries, we provide novel empirical evidence that firms’ cash holdings are positively associated with their climate change exposure. This evidence is robust to different model specifications and survives a battery of tests to ease concerns related to spurious correlation and omitted variable bias. Using the release of the Stern Review as an exogenous shock to climate change awareness, we show that this association becomes significantly stronger after the release of the Review and particularly so for firms with higher exposure to regulatory and transition risk dimensions of climate change as well as financially constrained firms. Overall, …

Grasping Opportunities Of Digital Technology And Digital Economy, Consistently Improving Urban Science Research, Guangtao Wang

Bulletin of Chinese Academy of Sciences (Chinese Version)

No abstract provided.

Bridging The Chasm Between Fundamental, Momentum, And Quantitative Investing, Allen Hoskins, Jeff Reed, Robert Slater

SMU Data Science Review

A chasm exists between the active public equity investment management industry's fundamental, momentum, and quantitative styles. In this study, the researchers explore ways to bridge this gap by leveraging domain knowledge, fundamental analysis, momentum, crowdsourcing, and data science methods. This research also seeks to test the developed tools and strategies during the volatile time period of 2020 and 2021.

Building Credibility, Trust, And Safety On Video-Sharing Platforms, Shuo Niu, Zhicong Lu, Amy X. Zhang, Jie Cai, Carla F. Griggio, Hendrick Heuer

Computer Science

Video-sharing platforms (VSPs) such as YouTube, TikTok, and Twitch attract millions of users and have become influential information sources, especially among the young generation. Video creators and live streamers make videos to engage viewers and form online communities. VSP celebrities obtain monetary benefits through monetization programs and affiliated markets. However, there is a growing concern that user-generated videos are becoming a vehicle for spreading misinformation and controversial content. Creators may make inappropriate content for attention and financial benefits. Some other creators also face harassment and attack. This workshop seeks to bring together a group of HCI scholars to brainstorm technical …

Perceptions Of Tourism And Quality Of Life: A Case Study In Savannah, Georgia, Marissa J. Renee

Honors College Theses

The World Travel and Tourism Council estimates that Travel and Tourism accounted for 10.3% of the world economy in 2019 and ¼ of all net new jobs over the past five years. Savannah, Georgia has experienced huge growth in the last decade due to tourism, with visitor spending on lodging alone increasing from $466 million in 2009 to $1 billion in 2019. The current study examined differences in perceived impact of tourism on quality of life using established predictors of tourism sentiments. An online community survey was conducted in Chatham County, Georgia (N = 94) using the Tourism Quality of …

A Granger Causality Test On The Misery Index Effects On Domestic Violence, Talia Vicente

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the possibility of an increase in domestic violence because of high inflation and unemployment rates in the United States. Inflation and unemployment are two factors that add together to contribute to the Misery Index. This index was created in 1970 by Arthur Okan, who used the index as a measure of economic distress felt by everyday people, due to the risk of, or actual, joblessness combined with an increasing cost of living. The data is collected from 1950’s to 2019 on factors such as unemployment, inflation, poverty, education, and GDP per capita. The results show that an …

Legal Setbacks, Disbursement Sudden Stops, And Fiscal Stimulus: An Empirical Characterization Of A Recent Philippine Characterization Of A Recent Philippine Fiscal Experience, Lawrence B. Dacuycuy, Mariel Monica R. Sauler

Angelo King Institute for Economic and Business Studies (AKI)

No abstract provided.

Treated Like Aliens: An Analysis Of Refugee Admissions Into The United States By Preferences, Nicadamus Atkins

Transformations: Research Papers

From the Refugee Act of 1980 to the present, the President has had the power to create a refugee ceiling, capping the admittance of refugees into the United States. The differential impact that Republican control of the legislative and/or the executive branches has on the admission of refugees into the United States is explored in this paper. Focusing on the refugee system, I examine Presidential political parties along with those of the House of Representatives over the course of 1986 to 2019 to determine if there is a correlation between party ideologies and refugee admission caps. Analyzing data from the …

Analysis Of U.S. Housing Markets Using Advanced Econometric Models And Machine Learning Algorithms, Cody Kirby

Dissertations

The Great Recession is the most recent reminder in U.S. history of the important relationship that exists between monetary policy and housing market activity. Since World War II, eight U.S. recessions have followed downturns in housing. A decline in the housing market results in the balance sheet deterioration of homeowners, financial institutions, private organizations, central banks, governing bodies, and foreign countries. The ability to understand the relationship between monetary policy and housing market activity, and to better forecast housing prices, allows for better planning by all economic agents.

This study answers the following research questions. (1) How have monetary policy …

The Economics Of Mass Incarceration: How Imprisonment Due To Drug Offenses Impacts The Economy Of Texas, Leah N. Letterhos

Senior Theses

I begin by addressing drug use and how it impacts individuals’ economic outcomes, through psychological substance abuse disorders, income, and employment, where I discuss how each factor is impacted by drug use. Next, I undergo the same process for how incarceration and how it affects economic outcomes of individuals, through the debt cycle, the drain of household resources, limited/lack of pay while in prison, and difficulty in finding employment after release from prison. I follow this by connecting incarceration to drug use by writing about the background on the United States’ incarceration rates and link to drug enforcement and systemic …

Calculating Efficiency For Spatial Autoregressive Stochastic Frontier Model, Levent Kutlu

School of Economics and Finance Faculty Publications

When there are efficiency spillovers, we can use a spatial autoregressive stochastic frontier model to estimate total (spillover-corrected) efficiencies.Glass et al. (2016) provide a formula for total efficiency in this context, which is an approximation. We provide the exact formula for the spillover-corrected efficiency. Moreover, we derive total, direct, and indirect marginal effects of environmental variables on spillover-corrected efficiency.

Macroeconomic Determinants Of Stock Market Development In Sample African Economies, Ehab Ayoub

Theses and Dissertations

This research paper studies the relationship between macroeconomic determinants as independent variables and different measures of stock market development as dependent variables across selected emerging economies in Africa for the period of 2002 to 2021, with a quarterly frequency using time series analysis. The independent variables used are Core Inflation, Deposit Rate, Foreign Direct Investment (FDI), FX Rate against USD, Domestic Credit, Gross Domestic Product (Real GDP), Exports, Imports, External Debt, and Foreign Reserves. We use these variables as our main determinants of measuring economic growth. With regards to stock market development, we use four proxy measures as our benchmark, …

Adjustment With Many Regressors Under Covariate-Adaptive Randomizations, Liang Jiang, Liyao Li, Ke Miao, Yichong Zhang

Research Collection School Of Economics

Our paper identifies a trade-off when using regression adjustments (RAs) in causal inference under covariate-adaptive randomizations (CARs). On one hand, RAs can improve the efficiency of causal estimators by incorporating information from covariates that are not used in the randomization. On the other hand, RAs can degrade estimation efficiency due to their estimation errors, which are not asymptotically negligible when the number of regressors is of the same order as the sample size. Failure to account for the cost of RAs can result in over-rejection of causal inference under the null hypothesis. To address this issue, we develop a unified …

Economic Forecasting In Singapore: The Covid-19 Experience, Hwee Kwan Chow-Tan, Keen Meng Choy

Research Collection School Of Economics

This Special Feature considers how accurately professional forecasters have predicted GDP growth and inflation in Singapore, especially during rare events such as the Global Financial Crisis (GFC) and COVID-19. It also illustrates the value of forecast probability distributions in inferring forecasters’ uncertainty when making predictions, and the degree of consensus between projections from different forecasters. The authors find that one-year ahead forecast errors for GDP growth and inflation increased during the GFC and the COVID-19 pandemic. While professional forecasters did not appear to have followed the Government’s forecasts when predicting growth during the GFC, they may have exhibited ”leader-following” behaviour …

Estimation And Inference With Near Unit Roots, Peter C. B. Phillips

Research Collection School Of Economics

New methods are developed for identifying, estimating, and performing inference with nonstationary time series that have autoregressive roots near unity. The approach subsumes unit-root (UR), local unit-root (LUR), mildly integrated (MI), and mildly explosive (ME) specifications in the new model formulation. It is shown how a new parameterization involving a localizing rate sequence that characterizes departures from unity can be consistently estimated in all cases. Simple pivotal limit distributions that enable valid inference about the form and degree of nonstationarity apply for MI and ME specifications and new limit theory holds in UR and LUR cases. Normalizing and variance stabilizing …

Effect Of Fandom On Sports Gambling, Drake Deitch

Dissertations

The goal in this study was to investigate the relationship between fandom and betting. The hypothesis was that sports fans who gambled on their favorite teams would be more likely to make irrational decisions based more closely on emotional attachment than logical thinking. A total of 191 fans of the Chicago Bears (n = 80), Green Bay Packers (n = 57), and Minnesota Vikings (n = 54) were recruited for the study. Participants completed a survey that assessed their knowledge of and love for the three teams. Results indicated fans were far more likely to bet on their team regardless …

Deciding For Others: Local Public Good Contributions With Intermediaries, Andrej Angelovski, Praveen Kujal, Christos Mavridis

ESI Working Papers

Given the prevalence of local public goods, whose broader use is often limited by distance and borders, we propose a potential solution to the free-riding problem by having each participant/beneficiary delegate the public good contribution decision to a non-local intermediary who neither puts in own endowment into the public good nor benefits from it. Intermediaries make decisions under two compensation mechanisms where the incentives for the intermediary are either non-aligned (fixed) or aligned (variable) with those of the beneficiary. We find that the use of intermediaries, regardless of whether their compensation is aligned or not with that of the beneficiary, …