Digital Commons Network^™

Pricing Bond Yields In The European Bond Market, David Cook

CMC Senior Theses

This paper analyzes macroeconomic factors and their effect on 2-year government bonds of 11 countries in the European Monetary Union. I specifically looked at how a simultaneous budget and trade surplus effect a country's bond yield spread relative to Germany's bond yield. My model showed that double surplus countries have a larger yield spread than countries that do not have a double surplus.

A False Sense Of Security: The Social Security Debate, Chris Shipman-Sercu

CMC Senior Theses

My motivation to write this thesis is based on the controversy surrounding the Social Security system that has recently infiltrated the media. Through my research, I have discovered the debate concerning Social Security is not a recent development but has existed since the 1930’s. Many sources are warning citizens to no longer count on Social Security as they most likely will not receive benefits until a extremely old age if they receive benefits at all. Current retirees are fearful of either a decrease in benefits or not receiving the money they contributed to the system through the years of employment …

The Consequences Of Increasing Ocean Acidification On Local And Global Fishing Industries, Alyson N. Stark

CMC Senior Theses

As human activities continue to generate accelerating levels of carbon dioxide emissions, the world’s oceanic resources are threatened by variability in seawater chemistry, known as ocean acidification. Recent increases in atmospheric carbon dioxide have resulted in decreased carbonate ion concentrations and ocean pH levels, leading to increasingly acidic waters. The exact consequences of these chemical changes on ecosystems and individual species are difficult to predict; however, research has shown that economically valuable calcifying species will experience reduced reproductive fitness and population declines. Ocean acidification, therefore, poses an immediate risk to both fish stocks and fishery industries. From a local perspective, …

Integrated Overview, Case-Studies And Analysis: Income Inequality In Latin America, Post-1980, Aaron R. Campbell

CMC Senior Theses

This thesis provides an integrated overview on the historical and contemporary literature dedicated to the study of within-country income inequality in Latin America.

The central hypothesis of this report is that there are underlying factors that drive the persistent levels of high within-country inequality experienced by Latin American countries. We study two countries, Brazil and Bolivia, through the process of reform and growth, and note the effects on the labor markets.

Using all available statistics and the wealth of knowledge compiled since the early 1980s, this study identifies those trends, and the factors that cause them to reappear in numerous …

Default Risk, Zeynep Topaloglu

Dissertations, Theses, and Capstone Projects

The hazard rate models used in recent bankruptcy literature assume censoring and default are two independent events, which means the censored company will eventually default. However we believe there will be a portion in the censored group that will be long-term survivors and we propose a mixture model of survivors and risky companies. Moreover this dissertation models the event and the timing of default incident at the same time. For the event of default and the timing of default we utilize a logistic regression. The results have justified the advantage of our model over the standard hazard rate models and …

Three Essays On The Determinants Of Foreign Direct Investment (Fdi), Haitao Liang

Dissertations, Theses, and Capstone Projects

At first, a literature review of over 150 articles on the determination of Foreign Direct Investment (FDI) proposes the main determinants of FDI. A meta-analysis tests the reliability of the previous studies on FDI.

Then, a cluster analysis on FDI data reveals the necessary to segment economies, especially by income level, in FDI analysis.

A large number of studies emphasize FDI determinants but ignore the income distribution on the results, which biases the estimates. In Chapter 3, I correct for heterogeneity due to income distribution by using the Blundell-Bond System GMM (Generalized Method of Moments), which controls for endogeneity problem …

Are Brand Name Medicine Prices Really Lower In Ciudad Juárez?, Thomas M. Fullerton Jr., Osvaldo Miranda

Border Region Modeling Project

Relatively high brand name pharmaceutical prices have led many United States residents to cross the border into Mexico as “medical tourists.” To examine the savings potentially available to consumers willing to cross into Mexico, data are collected and analyzed for brand name prescription medicines sold in El Paso, Texas and Ciudad Juárez, Mexico. Retail pharmacy prices are generally lower on the south side of the border and substantial savings result for some medicines. For some products, however, shelf prices are lower on the north side of the border.

Global Reuse And Optimal Waste Policy, Thomas C. Kinnaman

Other Faculty Research and Publications

No abstract provided.

A Spatial Analysis Of Supplemental Nutrition Assistance Program And Economic Conditions In The Appalachian Region, Nyakundi M. Michieka, Archana Pradhan, Tesfa Gebremedhin

Regional Research Institute Working Papers

Supplemental Nutrition Assistance Program (SNAP) helps low income people and families buy food they need for good health. The main objective of this study is to examine the effects of changes in the economic conditions and welfare on SNAP participation in the Appalachian region. The study employs county level data to capture variation in SNAP participation. Spatial econometric models are developed to examine the relationship among the economic and business cycle conditions, changes in welfare reforms, demographic and household attributes, institutional factors, and SNAP participation. The findings from this study could be helpful in improving welfare programs in this region.

A Dynamic Shift Share Analysis Of Economic Growth In West Virginia, Janaranjana Herath, Tesfa Gebremedhin, Blessing M. Maumbe

Regional Research Institute Working Papers

A regional economy consists of industries with a variety of economic potentials. A growth or decline in any of these sectors affects the overall growth of the economy. Analysis of economic growth by sector of a particular region helps policy makers, community leaders and researchers in better decision making and problem solving. This study attempts to analyze the employment growth pattern and policy implications in the economic development of West Virginia using a dynamic shift share analysis. The study uses employment data for 38 years from 1970 to 2007 for the empirical analysis. Results indicate that agriculture, mining and manufacturing …

What Causes Waste Flows? An Interregional Analysis Of Welsh Waste Shipments, Christa D. Jensen, Stuart Mcintyre

Regional Research Institute Working Papers

Much of the waste flow literature focuses on international waste trade and oftentimes solely on trade in hazardous wastes. However, data is often available for waste flows within national borders and these flows could yield just as much information on the relationships that exist between origins and destinations. In a world where waste creation, transport, and disposal is becoming a global problem, understanding and modeling these flows is becoming increasingly important. This paper uses a gravity model approach and data on commercial waste shipments between local authorities within Wales to examine the characteristics that are responsible for origin-destination waste flow …

An Empirical Analysis Of The Interactions Between Environmental Regulations And Economic Growth, Chali Nondo, Peter V. Schaeffer, Tesfa Gebremedhin, Jerald J. Fletcher

Regional Research Institute Working Papers

The purpose of this research is to examine the relationship between environmental regulation and economic growth. A four-equation regional growth model is used to analyze the simultaneous relationships among changes in population, employment, per capita income, and environmental regulations for the 410 counties in Appalachia. Our results reveal that initial conditions for environmental regulation are negatively related to regional growth factors of change in population, per capita income, and total employment. From this, we infer that the diversion of resources from production and investment activities to pollution abatement is inadvertently transmitted to other sectors of the economy—thereby resulting in a …

Who Generates Hazardous Wastes? Attribution Of Producer And Consumer Responsibility Within The Us, Christa D. Jensen

Regional Research Institute Working Papers

Amid changing attitudes about the environment and increasing sustainability concerns, many countries around the world aim to curb waste generation, especially the generation of hazardous wastes. Beginning in the late 1970’s and occurring increasingly since, governments and international bodies are passing legislation and treaties dealing with the reduction of hazardous waste generation and waste minimization in general. For future waste minimization policies to have an impact on hazardous waste generation, methods for determining where the ultimate responsibility for hazardous waste generation lies need to be explored. This paper examines hazardous waste generation in the United States at the industry level …

National And State Economic Impact Of Netl, Randall Jackson, Amanda Krugh, Brian Lashier, Ronald Munson

Regional Research Institute Working Papers

This report documents the development of state-level input-output models for Pennsylvania, West Virginia, and Oregon and the augmentation of the national input-output model that was developed previously for the project Valuing Domestically Produced Natural Gas and Oil . The state IO models were developed to assess the FY08 economic impacts of expenditures, employment, and research and development awards at the NETL sites located in Pittsburgh, PA; Morgantown, WV; and Albany, OR. The national IO model was developed to assess the FY08 economic impacts of NETL site expenditures, awards, and employment at the national level.

Energy Consumption And Economic Growth: Evidence From Comesa Countries, Chali Nondo

Regional Research Institute Working Papers

This study applies panel data techniques to investigate the long-run relationship between energy consumption and GDP for a panel of 19 African countries (COMESA) based on annual data for the period 1980-2005. In the first step, we examine the degree of integration between GDP and energy consumption and find that the variables are integrated of order one. In the second step, we investigate the long-run relationship between energy consumption and GDP; our results provide strong evidence that GDP and energy consumption move together in the long-run. In the third step, we estimate the long-run relationship and test for causality using …

Obesity Prevention: A Review Of The Interactions And Interventions, And Some Policy Implications, Anura Amarasinghe, Gerard D'Souza

Regional Research Institute Working Papers

Obesity is reaching epidemic proportions especially in the developed and, more recently, in the developing world where the problem is compounded by myriad socio-economic, demographic, built and natural environmental factors. This review examines the possible causes, consequences and policy implications using a multilevel, multispectral framework. The causes of obesity clearly are multifaceted and involve numerous interactions. Together with economic incentives, allocation of physical and financial resources to community intervention strategies through educational programs as well as better land use planning would be helpful in promoting healthier and sustainable communities. Towards this goal, we proposed a dynamic and integrated Individual, Social, …

Impact Of Various Insurance Types On Level And Appropriateness Of Health Care Consumption, Allison Mary Janda

Honors Theses

The goal of this study was to examine the extent to which insurance type, or method of care management, impact the appropriate delivery of health care. Previous studies indicate a relationship between insurance type and patterns of consumption but do not directly link the incentives or disincentives inherent in each plan with trends inconsumption of health care. This study explores how different types of health insurance coverage affect the location, the degree, and the frequency of health care consumption in order to gain insight into which plans promote appropriate delivery and consumption ofcare.

Capitalism Reassessed, Frederic L. Pryor

Economics Faculty Works

No abstract provided.

When It Pays More To Earn Less, Robyn Leslie

Honors Papers

The poorest individuals in the United States face some of the highest marginal tax rates on additional earned income. These tax rates arise from the benefit reduction rates of cash and in-kind transfer programs, and are often above 100%. Tax rates over 100% create a situation for low-income individuals where earning more leaves them with less after tax income. These implicit tax rates caused by welfare programs have an additive effect. If an individual participates in multiple welfare programs he or she will face a higher tax rate on his or her earned income. This study reveals that the structures …

Short Term Strategies For Long Term Power: The Rise And Potential Fall Of Hugo Chávez, Linden E.S. Schult

CMC Senior Theses

This thesis explores the route to power of Venezuela's President Hugo Chávez and the methods by which he has remained in power throughout his presidency. Also, it explores the potential for Chávez to lose power, given the current economic and political situation in Venezuela. The importance of the oil industry, Chávez's suppression of the opposition and control of the media, and constitutional changes and reforms are all discussed as keys to Chávez's continuance in power.

What The Stock Market Decline Means For The Financial Security And Retirement Choices Of The Near-Retirement Population, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai

Dartmouth Scholarship

This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wealth in stocks, held directly or in defined contribution plans or IRAs. Their vulnerability to a stock market decline is limited by the high value of their Social Security wealth, which represents over a quarter of the total household wealth of the early boomers. In addition, their defined contribution plans remain immature, so their defined benefit plans represent sixty …

Optimum Land Allocation For Species Protection And Military Training On Dod Installations, Sahan T.M. Dissanayake, Hayri Önal, James D. Westervelt, Harold E. Balbach

Economics Faculty Publications and Presentations

Poster

Mesauring The Effect Of Technological Change In Health Care Cost And Expenditure, Krishna P. Sharma

Wayne State University Dissertations

ABSTRACT

Background and objectives:

Technological change has a major role in driving up health care cost and expenditure. Yet we are not fully able to know the extent to which technological change affects cost and expenditure and the way new technologies enter the cost or expenditure functions. This paper uses historical data of US elderly males to see how health care spending associated with prostate cancer treatment behaves over time. Understanding the extent and mechanism by which a new technology actually translates into higher cost are main objectives of this study.

Study design, data and organization of the report:

This …

Economic Analysis Of Multidimensional Measures Of Obesity, Li Li

Wayne State University Dissertations

This study develops multidimensional measures of obesity based on six body measures, namely, weight, maximal calf circumference, thigh circumference, subscapular skinfold, waist circumference and percent body fat. Previous studies have used body mass index (BMI) as the measure of obesity. BMI does not fully consider body composition and is even more limited when applied to a population of subjects that are heterogeneous in muscularity, age, or bodyweight. Moreover, the use of BMI to classify people as obese and non-obese may result in misclassification problems. More recent studies have chosen some alternative measures of obesity, but there is no consensus on …

Is Private Long-Term Care Insurance Affordable For Older Adults?, Nayoung Kim

Wayne State University Dissertations

Nationwide there are fewer than 7 million long-term care (LTC) insurance policies in force. Why do so few Americans buy private long-term care (LTC) insurance? Several theories have been offered as possible explanations, including the availability of Medicaid, misperceptions that Medicare or other policies cover LTC, beliefs that one's own risk of needing LTC services is small, or desires to simply rely on children and spouses for LTC. This study examines another possible explanation - that private LTC insurance is simply "unaffordable" for most older Americans, which may be why they don't buy it.

This study begins by investigating the …

Alcohol Use Disorders And Labor Market Outcomes: An Analysis Using 2001-02 National Epidemiology Survey On Alcohol And Related Conditions, Shammima Jesmin

Wayne State University Dissertations

ABSTRACT

ALCOHOL USE DISORDERS AND LABOR MARKET OUTCOMES: AN ANALYSIS USING 2001-02 NATIONAL EPIDEMIOLOGY SURVEY ON ALCOHOL AND RELATED CONDITIONS

by

SHAMMIMA JESMIN

May 2010

Advisor: Dr. Allen Goodman

Major: Economics

Degree: Doctor of Philosophy

BACKGROUND

Attempt of this research to explore the impact of alcohol use disorders on labor market outcomes is justified on the following grounds. First, alcohol use disorders (alcohol abuse and dependence) became more prevalent among the working age population over the decades (NIAAA: 2004). Second, existence of a large body of research on the nature and extent of relationship between alcohol use and labor market …

Va Healthcare Costs Of A Collaborative Intervention For Chronic Pain In Primary Care, Kathryn C. Dickinson, Rajiv Sharma, Jonathan P. Duckart, Kathryn Corson, Martha S. Gerrity, Steven K. Dobscha

Economics Faculty Publications and Presentations

Background: Chronic pain is costly to individuals and the healthcare system, and is often undertreated. Collaborative care models show promise for improving treatment of patients with chronic pain. The objectives of this article are to report the incremental benefit and incremental health services costs of a collaborative intervention for chronic pain from a veterans affairs (VA) healthcare perspective.

Methods: Data on VA treatment costs incurred by participants were obtained from the VA's Decision Support System for all utilization except certain intervention activities which were tracked in a separate database. Outcome data were from a cluster-randomized trial of a …

Coastal Empire Economic Monitor, 4th Quarter, 2010, Armstrong Atlantic State University Center For Regional Analysis

Coastal Empire Economic Monitor

The Coastal Empire Economic Indicators are designed to provide continuously updating quarterly snapshots of the Savannah Metropolitan Statistical Area economy. The coincident index measures the current economic heartbeat of the region. The leading index provides a short term forecast of the region’s economic activity in six to nine months.

Globalization And International Development: Critical Issues Of The 21st Century, Sisay Asefa Editor

Upjohn Press

These papers address globalization issues with a special emphasis on its impact on poverty. Advances in transportation and telecommunications with instantaneous information and communication flows requires new approaches given the wide differences in cultures, political systems, languages, and ethnicities. Extreme variation in the international distributions of wealth, income, and poverty remain as enormous social problems to be addressed. In general, the contributors recommend expanding the flows between countries to accelerate growth and reduce inequalities. These flows include international trade and capital, migration, remittances, and foreign aid. But in addition to these hard commodities and dollars, there are flows of ideas, …

Staying The Course: U.S. Employment Strategy During The Great Recession, Randall W. Eberts

Periodical Articles

No abstract provided.