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The Enduring Local Harm From Recessions, Brad J. Hershbein, Bryan A. Stuart

Upjohn Institute Policy and Research Briefs

No abstract provided.

The Evolution Of Local Labor Markets After Recessions, Brad J. Hershbein, Bryan A. Stuart

Upjohn Institute Working Papers

This paper studies how U.S. local labor markets respond to employment losses that occur during recessions. Following recessions from 1973 through 2009, we find that areas that lose more jobs during the recession experience persistent relative declines in employment and population. Most importantly, these local labor markets also experience persistent decreases in the employment-population ratio, earnings per capita, and earnings per worker. Our results imply that limited population responses result in longer-lasting consequences for local labor markets than previously thought, and that recessions are followed by persistent reallocation of employment across space.

Is Tuition Free College The Golden Ticket? A Time Series Analysis Of Germany’S Higher Education Policy, 1990-2017, Hannah Wolfram

Business and Economics Honors Papers

Countries which have been able to offer free tertiary education are being applauded while the United States tries to find a way to rectify its high tertiary education costs. Germany has accomplished a system of subsidized higher education since the 1950s, making it seem highly successful. In order to investigate the potential benefits of subsidized higher education, this study uses a time series regression analysis to investigate the relationship between tertiary unemployment rate and public spending as a share of the Gross Domestic Product (GDP) in Germany over the period 1990-2017. The regression analysis corrected for multi-collinearity and serial correlation, …

Consumer Response To Corporate Social Responsibility (Csr) At Bridgewater College, Abenezer Tekle

Honors Projects

With the development of multinational companies (MNCs), corporate social responsibility (CSR) has become a very important component of corporate strategic plan. This study provides preliminary evidence that consumer response about the CSR behavior of Multinational Corporation are determined by different factors. In order to identify and measure the effects of CSR behavior on consumer response, I used quantitative research by creating an online survey to analyze three objectives. Nike was specifically included in the survey due to its popularity on college campuses. The results show that knowledge/awareness of CSR have some meaningful influence on millennial purchasing behavior; however, extensive student …

Adolescent Health, Future Outcomes, And Mechanisms Linking Health And Education, Nannan Peng

Behavioral and Computational Economics (MS) Theses

Even though the relationship between the health of infants/children and future outcomes has been established in many studies, little evidence has shown the impact of adolescent health. We extend the literature by exploiting the data from Add Health. We show that poor adolescent health has a significantly negative influence on adulthood outcomes. Among the health problems, mental illnesses have significantly persistent effects. Though specific diagnoses can predict general health measure, they are to some extent independent. We further explore the mediators linking health measures and educational attainment. The validity and effect size of the hypothesized mediators are also tested.

Millennials And The Alcohol Industry: Expenditure Variations Among Generations, Anthony Murray

Honors Projects in Economics

This paper explores the relationship age cohorts, or generations, have had with regards to alcohol expenditure over time. Articles from popular publications such as Business Insider claim Millennials are “killing” the alcohol industry due to their lack of consumption (Taylor, 2017), but provide little empirical analysis of any academic rigor to make such claims. These claims do matter, as they have implications for the alcohol industry itself as well as investors, law enforcement, the healthcare industry, and policy makers. This paper uses four cross-sectional decadal datasets spanning from 1986 to 2016 from the United States Bureau of Labor Statistics Consumer …

University President's Gender And Graduation Rates, Alex Drezek

Honors Projects in Economics

Graduation rates have increasingly become a key metric that institutions use to measure their success. This study looks at the potential relationship between the gender of a university’s president and graduation rates. A dataset was created compiling the gender and tenure of presidents and the characteristics and graduation rates of 4-year institutions in New England. Three separate regression models were created to analyze the data. The variables with the strongest positive relationship to graduation rates are: grade point average (GPA), expected future earnings of students, expenditures made by the institution, and the proportion of full-time faculty employed. The variables with …

Covid-19 Impact On Puerto Rico’S Small Businesses Week 1: Data Collection Between April 26 To May 2, Jennifer Hinojosa

CUNY Centro, The Center for Puerto Rican Studies

The U.S. Census Bureau’s Small Business Pulse Survey gives an insight into Covid-19’s impact on Puerto Rico’s small businesses between April 26 to May 2, 2020.1According to this survey,2 at least 65.4 percent of Puerto Rico’s small business respondents reported a large negative effect from COVID-19 (see table 1). Puerto Rico’s small businesses (65.4%) show the highest overall impact compared to the states and nationwide (51.4%).

The Nebraska Economy Responds To The Covid-19 Pandemic, Eric Thompson

Business in Nebraska

The Nebraska economy will contract in 2020 but the rate of decline will not be as rapid as nationwide. The economic structure of Nebraska is more focused on production and transportation than the national economy and less focused on hard-hit industries such as hospitality, entertainment, automobile parts and assembly, and oil production. Nebraska also may benefit from a higher quality workforce, which is better able to adapt to changing economic conditions.

Employment will drop by 2.4% in Nebraska in 2020, much less than the national rate of decline. Employment will rebound by 2.0% in 2021 and 1.4% in 2022. With …

The Impact Of Oil Rent, Currency Overvaluation, And Institution Quality, On Economic Growth Of Oil-Rich Countries: A Heterogeneous Panel Data Study, Alireza Motameni

Topics in Middle Eastern and North African Economies

This paper investigates several key challenges faced by oil-rich countries regarding their economic growth and development. First, it discusses how to determine currency overvaluation for these countries (if any). To determine the overvaluation, the real exchange rate (RER) is calculated and the Balassa–Samuelson effect is estimated via a regression model. Next, the study presents an empirical model for assessing the impact of oil rent on economic growth in the context of currency overvaluation and the institutional quality in every country. As a dynamic model, both endogeneity and heterogeneity are expected across cross-sections because countries are different in culture, customs, and …

Financial Inclusion And Extreme Poverty In The Mena Region: A Gap Analysis Approach, Noha Emara, Mahmoud Mohieldin

Topics in Middle Eastern and North African Economies

Eradicating extreme poverty – $1.90 per day international poverty line – remains one of the main, but challenging Sustainable Development Goals (SDGs) in the Middle East and North African (MENA) region. As per the latest World Bank statistics of 2018, extreme poverty in the MENA region has increased from 2.7% to 5% over the period from 2013 to 2015. The region ranks as the third highest in the developing regions and has fell short of reducing extreme poverty to half by the year 2015. Using system GMM dynamic panel estimation methodology on annual data for eleven MENA countries and twenty-three …

Economics Of Reciprocity And Temptation, Laxman Bokati, Olga Kosheleva, Vladik Kreinovich, Nguyen Ngoc Thach

Departmental Technical Reports (CS)

Behavioral economics has shown that in many situations, people's behavior differs from what is predicted by simple traditional utility-maximization economic models. It is therefore desirable to be able to accurately describe people's actual behavior. In some cases, the difference from the traditional models is caused by bounded rationality -- our limited ability to process information and to come up with a truly optimal solutions. In such cases, predicting people's behavior is difficult. In other cases, however, people actually optimize -- but the actual expression for utility is more complicated than in the traditional models. In such case, it is, in …

How Socialism Failed Venezuela, Ben Abrahamson

Political Science Theses and Capstones

In the 1970s, Venezuela was considered one of the wealthiest nations in the world. They enjoyed high oil prices after the discovery of OPEC, they were a democratized country in a continent where most of it was still undeveloped. Unfortunately, in the 1980s a major cut in oil prices caused economic turmoil, and leading into the 90s there were bloody riots, political disparity, attempted coups and building poverty. In 1998 came Hugo Chavez, a newly elected president to rid their economic issues and end corruption. However, that all turned out to be the opposite of what he did. The country …

Delay And Geographic Discounting Exert Multiple Control Over Climate Change Policy Preference, Celeste Noelle Unnerstall

Graduate Theses/Dissertations

The procedures were informed by a pilot investigation conducted by this research team that is described below. In the primary study, students attending Missouri State University chose between a policy with no restrictions or taxation on their carbon emissions versus a restriction on the amount of mileage driven per month and taxation related to the mileage. The main study also included an added variable of the influence a redistribution taxation policy into different geographic distances would have on policy preference. Results were interpreted in terms of a multilevel hyperbolic discounting model using the “R” program. The results suggest that there …

The Impact Of Coal Activity On Local Revenues For Elementary And Secondary Education In Appalachia, Jilleah G. Welch, Matthew N. Murray

Coal Industry Effects on Education

This report is the second of two reports exploring the relationship between coal activity and funding for elementary and secondary education. The first report provided a descriptive analysis while this report examines the impact of changes in coal employment or production on local revenues for education using an econometric analysis. Coal employment in the U.S. has significantly decreased over the last century due to multiple factors. However, there is still great variation in trends in coal employment across regions, counties, and time. Some areas have experienced growth in coal employment while other areas have experienced significant declines in coal employment. …

Adolescent Mental Health In The Developing World: Three Economic Analyses On Stressors, Coping, And Support, Siobhan K. Yilmaz

Economics ETDs

Adolescents are slowly being recognized as a generation, worldwide, that may require different policy approaches to improve staggering statistics on their failing wellbeing, including mental health. By providing the support to allow the next generation to achieve better mental health outcomes, they are going to be more economically successful and the future economic growth of nations can be better assured. In face of such a need, this dissertation approaches the evaluation of a number of key stressors and elements of coping and support. Each chapter produces results which overcome limitations throughout existing literature in terms of the simultaneous consideration of …

Crop Yield And Democracy, James B. Ang, Per G. Fredriksson, Satyendra Kumar Gupta

Faculty and Staff Scholarship

How does the historical legacy of agriculture affect democratic traditions in contemporary societies? This paper provides empirical evidence that inherent crop yield and democracy exhibit an inverted U-shaped relationship. This finding is supported by cross-country data from up to 147 countries, 186 pre-colonial societies, and the U.S. states. The relationship thus exhibits a highly persistent pattern. Crop yield is measured by kilocalories per hectare per year under rain-fed conditions, which has the advantage of being highly exogenous. The hump-shaped relationship holds up to a battery of robustness tests.

A Review Of The Characteristics Of Super-Utilizers And Evidence-Based Approaches To Reduce Healthcare Utilization, Suswara Mandala Rayabandla

Capstone Experience: Master of Public Health

A significant fraction of health care resources in the United States of America is utilized by a comparatively small number of people. An examination of the attributes and patterns and associated evidence-based interventions for such high-utilizing patients might aid clinicians to improve interventions to address the distinctive needs of these patients, decrease their risks for numerous hospitalizations, and contribute to reducing the costs. This study aims at exploring the existing literature on the characteristics of super-utilizers and interventions to reduce avoidable use of health care among this population. The method used for this research is a comprehensive literature review. Search …

"A Glass Of Milk Strengthens A Nation." Law Development, And China's Dairy Tale, Xiaoqian Hu

Journal of Food Law & Policy

Historically, China was a soybean nation and not a dairy nation. Today, China has become the world’s largest dairy importer and third largest dairy producer, and dairy has surpassed soybeans in both consumption volume and sales revenue. This article investigates the legal, political, and socioeconomic factors that drove this transformation, and building upon fieldwork in two Chinese counties, examines the transformation’s socioeconomic impact on China’s several hundred million farmers and ex-farmers and political impact on the Chinese regime. The article makes two arguments. First, despite changes of times and political regimes, China’s dairy tale is a tale about chasing the …

Milk And The Motherland? Colonial Legacies Of Taste And The Law In The Anglophone Caribbean, Merisa S. Thompson

Journal of Food Law & Policy

This paper tells a story of the relationship between colonialism and capitalism through the lens of “milk” and “the law” in the Caribbean. Despite high levels of lactose intolerance amongst its population, milk is a regular part of many Caribbean diets and features prominently in its foodscapes. This represents a distinctive colonial inheritance that is the result of centuries of ongoing colonial violence and displacement. Taking a feminist and intersectional approach, the paper draws on analysis of key pieces of colonial legislation at significant historical junctures and secondary literature to do three things. Firstly, it examines how law aided the …

Financing Firms In Hibernation During The Covid-19 Pandemic, Tatiana Didier, Federico Huneeus, Mauricio Larrain, Sergio L. Schmukler

Cowles Foundation Discussion Papers

The coronavirus (COVID-19) pandemic has halted economic activity worldwide, hurting firms and pushing them toward bankruptcy. This paper provides a unified framework to organize the policy debate related to firm financing during the downturn, centered along four main points. First, the economic crisis triggered by the spread of the virus is radically different from past crises, with important consequences for optimal policy responses. Second, to avoid inefficient bankruptcies and long-term detrimental effects, it is important to preserve firms’ relationships with key stakeholders, like workers, suppliers, customers, and creditors. Third, firms can benefit from “hibernating,” using the minimum bare cash necessary …

Addressing Urban Income Inequality Through Education: A Case Study In Atlanta, Garrett Bronn

Finance Undergraduate Honors Theses

For decades, the income inequality gap between the rich and poor has continued to expand dramatically, with criticism of existing education systems often at the heart of the issue. Large urban cities are commonly at the forefront of the issue, given the plethora of teacher strikes in recent years. Events such as the 11-day Chicago teacher’s strike in October of 2019 that idled academics and college prep for 350,000 students, have highlighted many current education issues (Hauck, 2019). With underfunded and poorly equipped middle and high schools, students in poor and minority neighborhoods in cities are less prepared academically, ill …

Recursive Preferences, The Value Of Life, And Household Finance, Antoine Bommier, Daniel Harenberg, François Le Grand, Cormac O'Dea

Cowles Foundation Discussion Papers

We analyze lifecycle saving strategies using a recursive utility model calibrated to match empirical estimates for the value of a statistical life. We show that, with a positive value of life, risk aversion reduces savings and annuity purchase. Risk averse agents are willing to make an early death a not-so-adverse outcome by enjoying greater consumption when young and bequeathing wealth in case of death. We also find that greater risk aversion lowers stock market participation. We show that this model can rationalize low annuity demand while also matching empirically documented levels of wealth and private investments in stocks. Our findings …

Recursive Preferences, The Value Of Life, And Household Finance, Antoine Bommier, Daniel Harenberg, François Le Grand, Cormac O'Dea

Cowles Foundation Discussion Papers

We analyze lifecycle saving strategies using a recursive utility model calibrated to match empirical estimates of the value of a statistical life. The novelty of our approach is that we require preferences to be monotone with respect to first order stochastic dominance. The framework we use can disentangle risk aversion and the intertemporal elasticity and can feature a positive value of life without placing constraints on the value of the risk aversion parameter or the intertemporal elasticity of substitution. We show that, with a positive value of life, risk aversion reduces savings, decreases stock market participation and decreases annuity purchase. …

How Much Do You Love Grey’S Anatomy?, Katherine Baldwin

Honors College Theses

Does the prominence of medical Television Shows impact people’s decision to pursue a medical career?

We are constantly told that the things we see in media and entertainment influences how we think about things, but not much research has been done regarding its ability to impact major life choices such as career choice. This paper investigates this by examining the causal relationship between television and interest in the pursuit of a medical career. An ordinary least squares model, created using time series data over the last 24 years, tested specifically the effect of the number and quality of medical television …

Federalizing Benefits: The Introduction Of Supplemental Security Income And The Size Of The Safety Net, Andrew Goodman-Bacon, Lucie Schmidt

Economics: Faculty Publications

In 1974, Supplemental Security Income (SSI) federalized cash welfare programs for the elderly, blind, and individuals with disabilities, imposing a national minimum benefit, and differentially raising payment levels in states that paid below its benefit floor. We show that this increased disability participation, but shrank non-disability cash transfer programs. For every four new SSI recipients, three came from other welfare programs. Each dollar of per capita SSI income increased total per capita transfer income by just over 50 cents. Federalizing part of a patchwork safety net need not increase redistribution by as much as traditional models of fiscal federalism suggest.

Does Proximity To Fast Food Cause Childhood Obesity? Evidence From Public Housing, Jeehee Han, Amy Ellen Schwartz, Brian Elbel

Center for Policy Research

We examine the causal link between proximity to fast food and the incidence of childhood obesity among low-income households in New York City. Using individual-level longitudinal data on students living in public housing linked to restaurant location data, we exploit the naturally occurring within-development variation in distance to fast food restaurants to estimate the impact of proximity on obesity. Since the assignment of households to specific buildings is based upon availability at the time of assignment to public housing, the distance between student residence and retail outlets—including fast food restaurants, wait-service restaurants, supermarkets, and corner stores—is plausibly random. Our credibly …

Cruise Ship Ports And Human Capital Development The Case Of Mexico, Jorge Herrera

Creative Activity and Research Day - CARD

The cruise ship industry, the fastest-growing segment in the leisure travel market, has contributed significantly to the economic transformation of developing countries, particularly in the Caribbean Basin. This paper applies a difference-in-differences methodology to examine the causal impact of the introduction of cruise ship ports on human capital development in Mexico, as reflected by educational attainment. Using variations in school enrollment, segregated by gender and age across states and municipalities, I find that the economic consequences derived from this form of tourism do not translate into incremental, permanent improvements in all quality of life indicators considered, most saliently in schooling. …

Shattering Glass Ceilings: Where Are All Of The Women In Finance?, Rebecca Schubach

Business and Economics Honors Papers

At a time when women are equally represented in professional fields such as medicine and academia, the finance industry is still facing a lack of gender diversity, most notability at the C-Suite level. Statistics on the paucity of women paint a bleak picture, despite the fact that women are awarded majority of undergraduate and graduate degrees in the United States, a reversal from just one generation ago. This begs the question, what is deterring women from a career in finance? Are compensation discrepancies at play? This paper seeks to examine if being a female truly penalizes a woman in regards …

Clusters In The Wilderness: A Theory Of The Economic And Policy Implications Of Location-Based Passions, Jack Marr

Boise State University Theses and Dissertations

In the global war for talent and investment, local policymakers are at a seeming disadvantage particularly in smaller cities as talent and capital are mobile while local policies are not. This often results in wasteful “copy thy neighbor” “race-to-the-bottom” in local policies. In these three essays, I develop a theory of Location-Based Passions (LBPs) and show that individual job seekers will accept lower salaries and benefits to be close to what they love, that there are long-term economic benefits in terms of greater per capita income and higher housing values to being recognized as an LBP star city, and look …