Digital Commons Network^™

Determinants Of The Student Loan Decision And Financial Well-Being: The Role Of Financial Education, Financial Literacy, And Student Loan Characteristics, Emily Shaffer Hales

All Graduate Theses and Dissertations, Spring 1920 to Summer 2023

The student loan crisis has been an important area of personal, political, and research discussion. Many individuals must make the decision to attend college with the help of student loans and millions are currently in repayment on their student loan. However, it can be difficult to understand what factors may play a role the decision to take out a student loan and how managing one’s student loan could affect their personal financial well-being. Thus, this study examined factors that could be related to how an individual may decide to take out a student loan, such as if they participated in …

Essays On The Housing Market In China And Some Evidence On Inflation Targeting, Yanchao Li

All Dissertations

The housing market in China enjoys great prosperity after a continuously rapid development for more than a decade. However, there are growing concerns about possible bubbles as the price continues to rise while ordinary workers cannot afford a house. The government of China has implemented different kinds of regulations to slow rapid price increases and stabilize the market since 2007. The first paper looks at the characteristics and determinants of housing prices in different tiers of cities in China over the period 2002–2017, and then the second paper examines the impact of different types of regulations on the real estate …

The Implications Of Covid-19 On Fear Of Financial Collapse, Alexis Reekie

Student Scholar Symposium Abstracts and Posters

By disrupting the general value paradigm, the typical hierarchy of values, individuals directly affected by the COVID-19 virus have realized an overall shift in perspective, indicating a need to understand the effects of the COVID-19 virus on one’s outlook regarding economic anxiety and fear of financial collapse. The possibility of a global health crisis reaching levels of devastation are certainly great and worth investigating. Throughout this research paper I worked to determine the correlation between fear of financial crises and individuals who have been affected by the COVID-19 virus. Utilizing the Chapman Survey of American Fears (FEAR survey) questions pertaining …

Harnessing Digitalization For Sustainable Economic Development: Insights For Asia, John Beirne, David Fernandez

Research Collection Lee Kong Chian School Of Business

Digitalization has helped to transform economies by enhancing competitiveness and productivity across a wide range of sectors. The use of big data and the rise of online platforms have accelerated this process over the past decade. In addition, the adoption of digital solutions in the face of social distancing and lockdown measures introduced due to the coronavirus disease 2019 (COVID-19) pandemic has been integral to the economic recovery process. The shift to a digitalized economy has also reduced barriers to market entry for firms, lowered inequality, and led to a promotion of social and economic inclusion. Advances in digital technology …

Does Precise Case Disclosure Limit Precautionary Behavior? Evidence From Covid-19 In Singapore, Aljoscha Janssen, Matthew H. Shapiro

Research Collection School Of Economics

Limiting the spread of contagious diseases can involve both government-managed and voluntary efforts. Governments have a number of policy options beyond direct intervention that can shape individuals’ responses to a pandemic and its associated costs. During its first wave of COVID-19 cases, Singapore was among a few countries that attempted to adjust behavior through the announcement of detailed case information. Singapore's Ministry of Health maintained and shared precise, daily information detailing local travel behavior and residences of COVID-19 cases. We use this policy along with device-level cellphone data to quantify how local and national COVID-19 case announcements trigger differential behavioral …

Economic Impact Of Targeted Government Responses To Covid-19: Evidence From The Large-Scale Cluster In Seoul, Kim, Kanghyock Koh, Jinwook Shin

Research Collection School Of Economics

We estimate the economic impact of South Korea's targeted responses to the first large-scale COVID-19 cluster in Seoul. We find that foot traffic and retail sales decreased only within a 300 meter radius of the cluster and recovered to its pre-outbreak level after four weeks. The reductions appear to be driven by temporary business closures rather than the risk avoidance behavior of the citizens. Our results imply that less intense, but more targeted COVID-19 interventions, such as pin-pointed, temporary closures of businesses, can be a low-cost alternative after lifting strict social distancing measures.

The Effects Of Cost, Level Of Safety, And Severity Of Injury On Manager Decisions To Implement A Safety Solution, Jonathan M. Hochmuth

Dissertations

Workplace injuries continue to be a source of substantial human and financial costs each year. Behavioral safety processes have been effective in reducing workplace injuries by increasing safety-related behaviors. In recent years, the focus in behavioral safety has shifted towards the role of managers in establishing and maintaining safe behaviors and conditions in the workplace. Understanding how managers make decisions to allocate resources is critical to improving safety. The field of behavioral economics has developed methods for studying decision-making. While there have been calls to apply these methods to occupational safety, there are only two empirical studies which have done …

Essays On Bitcoin And Cryptocurrencies, Jiasong Wu

Dissertations

Bitcoin and cryptocurrencies, invented as potential digital international currencies, have gradually drawn more and more attention since their birth. The growing popularity of cryptocurrencies in the past decade and the recent acceptance of Bitcoin as legal tender in El Salvador suggests that there is growing acceptance of these instruments and that cryptocurrencies are here to stay. Among these cryptocurrencies, Bitcoin has a unique place being the first and most well-known cryptocurrency in terms of price, market capitalization, and trading volume.

The first two essays of this dissertation focus on Bitcoin and the third essay focuses on the cryptocurrency market in …

General Equilibrium Effects Of Insurance Expansions: Evidence From Long-Term Care Labor Markets, Martin Hackmann, Jӧrg Heining, Roman Klimke, Maria Polyakova, Holger Seibert

Upjohn Institute Working Papers

Arrow (1963) hypothesized that demand-side moral hazard induced by health insurance leads to supply-side expansions in healthcare markets. Capturing these effects empirically has been challenging, as non-marginal insurance expansions are rare and detailed data on healthcare labor and capital is sparse. We combine administrative labor market data with the geographic variation in the rollout of a universal insurance program—the introduction of long-term care (LTC) insurance in Germany in 1995—to document a substantial expansion of the inpatient LTC labor market in response to insurance expansion. A 10 percentage point expansion in the share of insured elderly leads to 0.05 (7%) more …

Impact Of Economic Factors And Policy Interventions On The Covid-19 Pandemic, Yupeng Li, Kul Kapri

College of Humanities and Social Sciences Departmental Research

This paper studies how policy interventions and economic factors affect COVID-19 infections and deaths, using generalized linear regression (GLM) models. We seek to explain the containment differences by countries’ inherent economic factors, especially the labor market structure, utilizing data from multiple sources. The results show that countries heavily relying on the service sector and international trade suffer more from the spreading, possibly due to the fact that COVID-19 is a communicable disease and spreads quickly through physical contact. Further, we find that these countries could benefit more from stringent policies compared to others.

A Structural Model Of Organizational Buying For B2b Markets: Innovation Adoption With Share Of Wallet Contracts, Navid Mojir, K. Sudhir

Cowles Foundation Discussion Papers

The paper develops the first structural model of organizational buying to study innovation diffusion in a B2B market. Our model is particularly applicable for routinized exchange relationships, whereby centralized buyers periodically evaluate and choose contracts, then downstream users or- der items on contracted terms. The model captures different utility tradeoffs for users and buyers while accounting for how buyer and user choices interact to impact user adoption/usage and buyer contracting. Further, the paper considers the dynamics induced by share of wallet (SOW) pricing contracts, commonly used in B2B markets to reward customer loyalty with discounts for buying more than a …

Islamic Finance : A Study Of Malaysian Banks From 1999-2006, Tamer El-Gindi

Archived Theses and Dissertations

No abstract provided.

Coo2 Bhanga Munda Data, Asli Ascioglu, Padma Kadiyala

Finance Department Faculty Journal Articles

No abstract provided.

Is Offense Worth More Than Defense In The National Basketball Association?, Justin Ehrlich, Joel Potter

Sport Management - All Scholarship

Motivated by the popular sports saying, “Offense sells tickets, defense wins championships,” we use Forbes revenue data to quantify whether offense really does sell more ‘tickets’ than defense in the National Basketball Association (NBA). Employing team offensive and defensive win shares as measures of offensive and defensive proficiency, we find offensively oriented teams generate the same amount of revenue as do defensively oriented teams, other things equal. Our results suggest that both profit-maximizing and win-maximizing teams should value offensively and defensively players equivalently (per unit). Thus, in an efficient free agent market, we would expect equilibrium player salaries for offensive …

The New River Gorge Area Economic Outlook: 2022-2026, John Deskins, Brian Lego

Bureau of Business & Economic Research

The New River Gorge Area has struggled for much of the last decade as secular declines in employment for several of the region’s traditional industries have proven difficult to overcome. More recently, the COVID-19 recession has caused significant turmoil for portions of the four-county area’s economy, most notably the tourism industry, but conditions have improved measurably over the past 18 months or so. In this report, we present a discussion of the New River Gorge Area’s recent economic performance and a forecast of the region’s economy over the next five years.

Measuring The Capacity To Combat Illicit Tobacco Trade In 160 Countries, Valerie Gilbert T. Ulep, Monica Paula Lavares, Ariza Francisco

Ateneo School of Government Publications

Background

Illicit trade of tobacco negatively affects countries’ tobacco control efforts. It leads to lower tobacco prices and makes tobacco products more accessible to vulnerable populations. In this study, we constructed an illicit tobacco trade index, which measures the structural and institutional capabilities of 160 countries in addressing illicit tobacco trade. We collected the most recent and best available data on general governance, tobacco control policies, and trade and customs practices.

Results

Singapore, New Zealand, Finland and Sweden lead countries with the most favorable illicit tobacco trade score. We observed a positive relationship between illicit tobacco trade scores and Gross …

Contributor's Guidelines And Article Index, Usawc Press

The US Army War College Quarterly: Parameters

No abstract provided.

Us Capital Purchase Program, Aidan Lawson, Adam Kulam

Journal of Financial Crises

During the fall of 2008, the US government was faced with a financial crisis of unprecedented scope. Having already exercised the authority to put Fannie Mae and Freddie Mac into conservatorship in September, the stage was set for the US government to intervene more broadly in strained financial markets. This intervention would ultimately come in the form of the Emergency Economic Stabilization Act of 2008 (EESA), which was passed on October 3, 2008. The main provision of EESA was the Troubled Asset Relief Program, or TARP, a $700 billion program initially designed to purchase troubled assets off the balance sheets …

Us Community Development Capital Initiative (Cdci), Adam Kulam

Journal of Financial Crises

The United States Department of the Treasury responded to the Global Financial Crisis with an economy-wide stimulus package called the Troubled Assets Relief Program (TARP). Within the portion of TARP’s budget dedicated to bank investments, about $570.1 million was disbursed to community development financial institutions (CDFIs)—specifically, banks and credit unions (depositories)—in a program called the Community Development Capital Initiative (CDCI). Through the CDCI, Treasury provided capital to CDFI depositories, encouraged them to lend to small businesses, and promoted other community-oriented goals. The CDFI depositories issued either preferred shares or unsecured subordinated debentures to Treasury at low (2%) interest rates for …

Uk Bank Recapitalisation Scheme, Alec Buchholtz

Journal of Financial Crises

Following the collapse of Lehman Brothers and the ensuing global credit crunch in late 2008, Her Majesty’s Treasury (HMT) announced a large economic package to provide support to the UK banking sector. As part of the package, the eight largest banks committed themselves to raising their total Tier 1 capital by £25 billion through either private fundraising or government assistance. Thus, the economic package featured a new Bank Recapitalisation Scheme to invest up to £50 billion in capital into UK banking and credit institutions that could not raise their assets in the private sector. Government capital was invested into either …

Spain – Fondo De Reestructuración Ordenada Bancaria (Frob) Capital Injections, Priya Sankar

Journal of Financial Crises

The Spanish government created the Fondo de Reestructuración Ordenada Bancaria (FROB), known in English as the Fund for Orderly Bank Restructuring (FROB) in 2009 to perform temporary capital injections that facilitated the restructuring and mergers and acquisitions of struggling institutions. The FROB used preferred shares, ordinary shares, and contingent convertible bonds to recapitalize struggling Spanish credit institutions. The FROB injected a total of €54.4 billion of capital in three rounds. FROB I in 2010 injected capital to support the mergers of 25 insolvent regional savings banks, or cajas, into seven larger, more solvent banks through the subscription of convertible preferred …

Norway – Gbif/Sbif (Nordic Crisis 1991), Priya Sankar

Journal of Financial Crises

Privately owned banks had funded the Savings Bank Guarantee Fund (SBGF) and Commercial Bank Guarantee Fund (CBGF) between 1921-1938 to provide guarantees and capital injections to struggling banks. Bank legislation in 1961 made participation in such guarantee funds compulsory for all Norwegian banks, and they were reorganized according to that law. However, after banks began to struggle in the late 1980s, the two funds quickly ran out of resources. The Norwegian Parliament (Storting) created the Government Bank Insurance Fund (GBIF) in March 1991 to loan money to the two funds. They both quickly incurred unsustainable amounts of debt to the …

Malaysia: Danamodal Nasional Berhad (Danamodal), Devyn Jeffereis

Journal of Financial Crises

The Malaysian economy was relatively well positioned at the beginning of the Asian Financial Crisis. However, the government’s response of tight fiscal and monetary policy, along with contagion from surrounding countries, had severe negative consequences. The banking industry became particularly vulnerable due to substantial loan growth preceding the crisis and exposure to volatile sectors, leading to an increase in NPLs and capital deterioration. As part of its approach to assist the ailing banking sector, the Bank Negara Malaysia created Danamodal Nasional Berhad (Danamodal) on August 10, 1998, as a wholly owned subsidiary aimed at recapitalizing banking institutions. Funding for Danamodal …

Korea: Bank Recapitalization Fund, Lily S. Engbith

Journal of Financial Crises

Following the collapse of Lehman Brothers on September 15, 2008, a number of foreign governments enacted stabilization measures to protect their domestic economies in the wake of the global credit crunch. The Bank Recapitalization Fund (the Fund), announced by the South Korean government on December 18, 2008, and implemented on February 15, 2009, was one such intervention intended to assist Korean commercial banks in strengthening their capital bases and thus restore normal lending practices between banks and nonfinancial institutions. Invoking its authority under Article 65, Section 3 (“Emergency Credit to Financial Institutions”), of Chapter IV of the Bank of Korea …

Korean Capital Injections: Kdic 1997, Adam Kulam

Journal of Financial Crises

After the devaluation of the Thai baht in July 1997, international banks reduced their exposures to Korean financial institutions, rating agencies downgraded Korea’s sovereign rating, and the Korean won lost half its value. The government guaranteed all financial institution deposits and provided emergency liquidity support to the financial sector, but these measures did not restore market confidence. In December, Korea sought an International Monetary Fund (IMF) Stand-by Arrangement. As part of the IMF program, the Korean National Assembly consolidated financial sector supervision into a new Financial Supervisory Commission (FSC) and broadened the scope of the Korea Deposit Insurance Corporation (KDIC). …

Prompt Recapitalization Act, Vaasavi Unnava

Journal of Financial Crises

In 1997, Japan’s banks were in crisis due to hundreds of billions of dollars of non-performing real estate loans. In response, the government performed three rounds of capital injections in 1998, 1999, and the early 2000s. The capital injection of 1999, authorized by the Prompt Recapitalization Act, made as much as ¥25 trillion ($208 billion) available to financial institutions that applied, regardless of their capitalization. By the end of the injection window, 32 banks and trusts applied for and received ¥8.6 trillion ($71.6 billion) total in preferred shares and subordinated debts. The Act required banks to submit and adhere to …

Indonesia Joint Recapitalization Of 1999, Vaasavi Unnava, Ariel Smith

Journal of Financial Crises

The Indonesian government implemented a joint recapitalization program in 1999 to aid some of its private banks struggling with the effects of the Asian Economic Crisis. Nine banks were eligible, and seven ultimately participated. The program was voluntary; in order to participate, bank managers had to pass a test proving that they were competent enough to run their bank and create a three-year plan for the bank’s operations subject to independent assessment. All of the bank participants were able to return to the 4% minimum capital adequacy ratio by the end of the program.

Greece (2008) – Capital Injections, Manuel León Hoyos

Journal of Financial Crises

In October 2008, in the midst of the Global Financial Crisis (2007–09), the Greek government announced a €28 billion ($36 billion) government package. Greek Law 3723/2008, “Enhancement of Liquidity in the Economy in Response to the Impact of the International Financial Crisis,” was passed and approved under European Union State Aid rules. The Greek law provided for three voluntary programs: recapitalizations (€5 billion), guarantees (€15 billion), and securities (€8 billion). This case study exclusively examines the recapitalization program. In this program, the Greek government acquired convertible preferred shares in banks in order to build and maintain banks’ Tier 1 capital …

Recruitment Machines, Community Power And Political Return On Investment (Proi): Economic Development Policy In The Age Of Amazon, Eric G. Griego Montoya

Political Science ETDs

ABSTRACT

A fundamental policy choice in economic development among local policy makers is the appropriate mix of “outside” strategies that use incentives to attract companies, and “inside” strategies that invest in smaller and local businesses. Using a mixed-methods research design, including national and state surveys along with qualitative analysis of interviews conducted with policy elites, I examine the role of ideology, elites, community, competition, social capital (trust and influence), and electoral politics in these policy decisions. I use new descriptive theoretical frameworks called “recruitment machines” and “Political Return on Investment (PROI)” to describe how and why local elected officials support …

Three Essays In Development And Environmental Economics, Michael Benjamin Goodwin

Economics ETDs

This dissertation explores three unique topics in development and environmental economics. The first paper looks at the value people place on clean air in Mexico City using an alternative air pollution measure to the typical ground measurement. Research and policy addressing air pollution remains hampered by a lack of ground level air quality data. This study attempts to overcome this issue using aerosol optical depth from satellite imagery as a proxy for air pollution. Using a hedonic framework and least squares estimation, results show that Mexico City residents place a significant value on clean air as demonstrated by their choices …