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Mind The Gap: Understanding Why Gen Z’S Sustainability Values Do Not Align With Fashion Purchasing Behavior. Exploring The Factors That Contribute To Values-Behavior Gap, Aileen Charron

Honors Projects in Mathematics and Economics

This thesis investigates the values-behavior gap that exists among Gen Z consumers, specifically investigating why sustainability values often do not translate into sustainable fashion purchasing. Through a multidisciplinary literature review highlighting key economic, marketing, psychological, and anthropological theories of consumer demand, this study identifies the complex motivations behind Gen Z’s fashion choices. A survey distributed to Gen Z respondents (n = 42) measured sustainability values, fashion purchasing habits, and influences across the four different theoretical domains of demand. Respondents were categorized into four subcategories of purchaser based on their sustainability values and consumption behaviors. Analyses had a particular focus on …

A Saddlebag Doctor Of The Mahantongo Valley Of Pennsylvania: The Life And Practice Of Reuben Harris Muth, M.D., 1826-1899, Lawrence K. Knorr

Doctoral Dissertations and Projects

The life and medical practice of Reuben Harris Muth, M.D., a rural saddlebag doctor, is reconstructed from an extant set of physicians’ daybooks, chronicling his professional activity from 1858 until 1898, including patients seen and the fees charged. The daybooks also provided a modicum of hints at other activities in his life, including his farming business and the whereabouts of his wayward son. However, there were no personal letters or diaries available. Thus, other primary sources and local newspaper accounts were utilized to fill out the most likely details and actions of his life, approximating his movements, key decisions, and …

Climate Change Adaptation Through Economic Democracy, Shriraksha Mohan

Best Integrated Writing

Mohan investigates and combines three different areas of literature and social movements to discuss the problem of climate change and economic adaptation. The value of this work is that it can be used to communicate among three independent types of social movements and inquiries. This can strengthen and connect dispersed yet overlapping efforts in addressing work issues, resource utilization, economic governance and participation, and ecological problems economies face today.

Lessons Learned: Fabrizio López-Gallo, Mercedes Cardona

Journal of Financial Crises

Fabrizio López-Gallo served as the Bank of Mexico’s director general of financial stability during the COVID-19 pandemic, having been financial sector specialist and risk analysis and special projects manager for the central bank during the 2007–09 Global Financial Crisis (GFC). The Mexican government declared a health emergency at the outbreak of the pandemic and implemented a general economic shutdown. The Bank of Mexico intervened by cutting rates and initiating extraordinary measures, such as adding bond swaps and loosening rules for minimum deposits at commercial banks to provide liquidity. It gave flexibility to commercial banks to grant forbearance on mortgage payments …

Eliminating Discount Window Stigma: What Can We Learn From Abroad?, Susan Mclaughlin

Journal of Financial Crises

This article picks up from an earlier Journal of Financial Crisis policy note on discount window design to see how the experiences of other central banks can inform work to redesign the discount window to reduce stigma. As explained in that article, banks’ reluctance to use the discount window is problematic for financial stability as it constrains the Fed’s ability to use its liquidity provision tools to stem runs and mitigate contagion in times of stress. The stigma associated with discount window borrowing in the United States is well documented and is a multifaceted phenomenon.

United States: First Republic Bank Emergency Liquidity Program, 2023, Salil Gupta, Jack French, Steven Kelly

Journal of Financial Crises

First Republic Bank, a California-based institution with $212.6 billion in assets, lost $25 billion in deposits on Friday, March 10, 2023, following the closing of Silicon Valley Bank that morning. On Sunday, March 12, First Republic announced that it had access to $70 billion in unused liquidity owing to its borrowing capacity at the Federal Reserve, the Federal Home Loan Bank System, and JPMorgan Chase (JPMC). But First Republic’s depositors withdrew a further $40 billion of deposits on Monday, March 13. First Republic’s borrowings from the Federal Reserve rose as high as $109 billion between Friday, March 10, and Wednesday, …

United States: Citigroup Emergency Liquidity Program, 2008, Vincient Arnold

Journal of Financial Crises

By November 21, 2008, against the backdrop of heavy losses during the Global Financial Crisis, Citigroup counterparties were substantially pulling back from the firm. On November 23, the US Department of the Treasury, Federal Deposit Insurance Corporation (FDIC), and Federal Reserve announced a support package for Citi composed of a capital injection and a loss-sharing arrangement on $300.8 billion of assets. Under the Asset Guarantee Program (AGP), Citi would absorb the first $39.5 billion in losses on a mutually agreed upon pool of risky assets; the Treasury and FDIC provided $15 billion in loss protection after that, combined with Citi’s …

United States: Bear Stearns Emergency Liquidity Assistance, 2008, Vincient Arnold

Journal of Financial Crises

On Thursday, March 13, 2008, the US investment bank Bear Stearns Companies approached the Federal Reserve Bank of New York (FRBNY), saying it expected many of its repurchase agreement (repo) counterparties would not “roll,” or renew, their repo agreements the next day. As a result, the firm would be obligated to repay many of its repo liabilities. Without an emergency loan, Bear would be forced to file for bankruptcy on Friday morning, March 14. Before the market opened on Friday, the FRBNY made an overnight loan for $12.9 billion through JPMorgan Chase Bank (JPMC) on a nonrecourse basis, which on-lent …

Sweden: Carnegie Investment Bank Ab Emergency Liquidity Program, 2008, Sophia Alden, Jack French

Journal of Financial Crises

In October 2008, Carnegie Investment Bank AB (Carnegie) had trouble obtaining financing amid concerns about its financial health. However, Sweden’s central bank, the Sveriges Riksbank (Riksbank), and the Swedish Financial Supervisory Authority (FSA) still viewed Carnegie as solvent. Between October 27 and 28, the Riksbank lent Carnegie 2.4 billion Swedish kronor (SEK). As collateral for the loan, Carnegie and its holding company, D. Carnegie & Co. AB (D. Carnegie), provided all shares and subsidiaries in Carnegie as well as all shares in a sister subsidiary under D. Carnegie, Max Matthiessen Holding AB (Max Matthiessen). On November 10, 2008, the FSA …

Switzerland: Credit Suisse Emergency Liquidity Program, 2023, Jack French, Owen Heaphy, Steven Kelly

Journal of Financial Crises

Credit Suisse (CS) faced multiple challenges leading up to March 2023 including a significant outflow of client funds in the fourth quarter of 2022 and reputational loss resulting from a number of scandals in the preceding years. On Wednesday, March 15, 2023, shortly after two high-profile bank failures in the United States, a high-ranking official of the Saudi National Bank, a major shareholder, publicly said it would not provide any more capital for the company. Despite a joint statement from the Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority (FINMA) that CS was in compliance with capital …

Spain: Caja De Ahorros Castilla–La Mancha Emergency Liquidity Assistance, 2009, Vincient Arnold, Lakshimi Swaminathan

Journal of Financial Crises

Following years of rapid credit expansion in the real estate sector and reliance on wholesale funding between 2000 and 2008, Caja de Ahorros de Castilla–La Mancha (CCM) found itself on the brink of insolvency in early 2009. Normally, a Eurosystem bank in CCM’s position would turn to the European Central Bank (ECB) to obtain liquidity through its standing financing facilities, but CCM lacked eligible collateral to tap them. Consequently, in February 2009, the Bank of Spain (BoS) provided emergency liquidity assistance (ELA) of EUR 900 million to CCM, secured against CCM assets, to help meet its liquidity needs. In March, …

Russia: Otkritie Emergency Liquidity Program, 2017, Benjamin Hoffner

Journal of Financial Crises

In July and August 2017, Otkritie Bank, Russia’s largest privately owned bank, experienced deposit runs related to concerns over Otkritie’s recent acquisitions, including a large, troubled bank and insurance company. The runs prompted Otkritie to heavily rely on the Central Bank of Russia’s (CBR’s) standing fixed-rate repurchase agreement (repo) facility to meet the outflow. By July, Otkritie had RUB 338.1 billion in outstanding repo loans from the CBR. As depositors continued to withdraw funds in August, the CBR provided Otkritie with an unsecured emergency loan of RUB 330 billion while Otkritie continued to borrow from the repo facility. On August …

Moldova: Consortium Of Banks Emergency Liquidity Program, 2014, Vincient Arnold

Journal of Financial Crises

In the fall of 2014, a bank fraud involving illegal loans and transfers resulted in USD 1 billion being stolen from the government of Moldova, which amounted to more than an eighth of Moldova’s GDP. In September 2014, it became clear to the National Bank of Moldova (NBM) that the banks involved in the fraud—Banca de Economii, Banca Sociala, and Unibank—were deeply insolvent and had been hiding that fact from regulators. In late November, the NBM issued 9.4 billion Moldovan lei (MDL; USD 640 million) in emergency credit to the banks at an interest rate of 10 basis points against …

Ad Hoc Emergency Liquidity Programs In The 21st Century, Steven Kelly, Vincient Arnold, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 22 case studies of 21st century instances when financial crisis-fighters implemented ad hoc emergency liquidity (AHEL) interventions, interventions designed to provide liquidity to a troubled institution that the authorities believe is systemically important. While emergency liquidity support is often introduced with the real or communicated intention of preventing illiquidity from leading to insolvency, the liquidity crisis should instead be viewed as the manifestation of the market’s assessing the firm as nonviable as a going concern. For that reason, authorities should provide AHEL assistance only to institutions that they have deemed viable or that they have committed to …

Fighting "Fear Itself": The Bank Holiday Of March 1933, Matthew Jaremski, Gary Richardson, Angela Vossmeyer

Journal of Financial Crises

In the month preceding Franklin Roosevelt’s inauguration, a panic overwhelmed the U.S. banking system. Immediately after assuming office, Roosevelt declared a nationwide bank holiday and vowed to reopen only sound banks. Five days after the holiday ended, nearly 11,000 of the nation's more than 18,000 commercial banks had reopened. Nearly 4,000 never reopened or had to be reorganized. The holiday is often credited with helping reestablish financial stability, but little is known about the mechanisms underlying the reopening process and the way in which payment systems were restored. We detail the process of reopening the banking system using narrative records …

Sustainable Cash Flow Management Strategies For Small To Medium-Sized Service Businesses, Melody Gray

Walden Dissertations and Doctoral Studies

Nearly 50% of small to medium-sized enterprises (SMEs) fail within five years, resulting in financial losses for business owners and reduced employment opportunities. Entrepreneurs care about this issue because poor cash flow management is a major contributor to business failure, threatening economic growth and job stability. Grounded in working capital management, the purpose of this qualitative, multiple case study is to explore successful cash flow management strategies for service industry SME owners to sustain free cash flow beyond 5 years. The study included four SME owner participants in the Dallas/Fort Worth metroplex who successfully started and sustained the business beyond …

Navigating Work-Life Balance: A Study Of School Educators In Challenging Contexts, Laurent Yacoub, Sara Abou Ibrahim, Nadine Osman, Zubaida Daye, Nada Jabbour Al Maalouf

Arab Economic and Business Journal

Work-life balance has become an essential aspect of employees’ fundamental rights provided by the workplace in almost every industry. While WLB is widely recognized for enhancing employees’ productivity, motivation, and consequently, the overall success of the organization, limited research has focused on its role in the educational sector, particularly in Lebanon. In the educational sector, this concept is particularly important since this sector is known for the high amounts of workload during and after school hours. This study explores the impact of work-life balance on job satisfaction among both Lebanese and non-Lebanese teachers in private and public schools in Lebanon, …

Health Crisis And Currency Risk: Fresh Evidence From New Data Sets, Afees A. Salisu, Dinci J. Penzin, Yinka S. Hammed

Bulletin of Monetary Economics and Banking

With the aid of a method of predictability analysis that involves a feasible quasigeneralized least squares estimator, we examine the predictive power associated with the newly computed COVID-19 indices, which are disaggregated into six indices for currency market risks (realized volatility of exchange rate). Our sample size covers the period between December 31, 2019, and December 28, 2021. We note mixed outcomes for the major currency markets considered. On average, while the health crisis seems to have heightened the risks associated with Pounds Sterling, Australian Dollar and Canadian Dollar against USD, it exerts a moderating effect on the Euro, Yen …

Exit Policy, Liquidity Normalization, And Lts Implications On Central Bank Policy Transmission, Alexander Lubis, Rangga Pratama, Merlin Dwi Yunaniar, Wahyu Agung Nugroho, Dian Prima Susiandri

Bulletin of Monetary Economics and Banking

The objective of this study is to determine the implications for the effectiveness of monetary policy transmission by examining the impact of specific policy toolkits in both Advanced Economy (AE) and Emerging Market (EM) countries during crises and during normalization (exit policy) upon crisis resolution. The analysis conducted using the VECM method on a number of AE and EM countries demonstrates that the response of bank interest rates (credit) is consistent with changes in policy rates and substantially diverges from Quantitative Easing (QE) policy in both the short and long term. However, the efficacy of monetary policy transmission appears to …

How Do Life And Non-Life Insurance Affect Financial Inclusion? New Empirical Evidence From A Cross-Country Analysis, Shen Yap, Huishan Lee, Ping Xin Liew

Bulletin of Monetary Economics and Banking

This paper examines the influence of life and non-life insurance on financial inclusion in 79 countries during 2019. Financial inclusion indices were calculated using the Euclidean distance approach. The study reveals that the financial inclusion level is considerably impacted by the integration of insurance indicators. In over 64% of the countries, the financial inclusiveness is reduced as a result of the incorporation of life insurance. In contrast, the financial inclusiveness of nearly 47% of the countries was enhanced by the inclusion of non-life insurance. The paper emphasizes the necessity for policymakers to take insurance into account as a critical element …

How The H-2b Visa Lottery Helped Businesses During Covid, Parag Mahajan

Upjohn Institute Policy and Research Briefs

No abstract provided.

“Essential” Migrants: Evidence From The 2020 H-2b Visa Lottery, Parag Mahajan

Upjohn Institute Working Papers

I study how access to foreign-born workers impacts firms and local economics in times of acute crisis. The 2020 H-2B visa lottery randomly gave some U.S. firms the chance to hire low-wage, migrant workers during the height of the COVID-19 pandemic. Using administrative data across three government agencies, I find that access to H-2B workers led to decreased business closures, increased revenues, increased payroll, and increased employment in 2020. I also find suggestive evidence that these effects spilled over to non-participant firms within the same county.

The Columbus Promise: Year Two Evaluation Report, Michelle Miller-Adams, Kevin Hollenbeck, Bridget Timmeney, Kyle Huisman

Reports

No abstract provided.

Trade Openness And Spatial Inequality In Developing Countries: Case Study Of Asean-4, Rosalia Marcha Violeta, Vedy Ardine Sahetapy, Garda Maharsi, Mohamad Dian Revindo

Jurnal Kebijakan Ekonomi

Trade openness is widely associated with stronger medium- to-long-term economic growth, yet its distributional consequences within countries, particularly in developing economies, remain contested. This paper examines the relationship between trade openness and spatial inequality in four major ASEAN economies, Indonesia, Malaysia, Thailand, and the Philippines, over the period 2012–2019. Spatial inequality is measured using Theil’s Index based on provincial-level GDP per capita, while trade openness is proxied by the trade-to-GDP ratio. Employing pooled OLS and fixed-effects estimations, the analysis controls for key structural factors such as economic development, population size, urbanization, government expenditure, and the number of spatial units. The …

Evaluating The Current State Of Quality Measure Reporting In The Merit-Based Incentive Payment System, Kinan Sawar, Geoffrey Potts Md

Medical Student Research Symposium

The Merit-Based Incentive Payment System (MIPS) requires physicians to report quality measures along with other metrics that are used to determine an annual percentage adjustment to physician Medicare Part B payments. Unfortunately, physicians have been forced to choose from an ineffective, limited set of quality measures. This has led to an overreliance on process measures, which fail to stratify physician performance effectively; it has also led to differences in the number of reporting options across specialties, resulting in unequal opportunity for physicians to succeed in MIPS. Using Centers for Medicare and Medicaid Services (CMS) public use file data from 2021-2024, …

The Role Of Gender Equity In Olympic Success Using Panel Data, Anusha Khan

Honors Projects in Mathematics and Economics

This study investigates whether gender equity is one of the determinants of Olympic success at the country level. Using panel data with 766 observations from six Olympic years (2012–2022), it examines the relationship between gender equity and national medal counts. Three Ordinary Least Squares (OLS) models were estimated using total, men’s, and women’s medal counts as dependent variables. While the findings vary across models, results suggest that gender equity may be positively associated with Olympic performance, though its significance is limited when controlling for other social and economic variables.

Investing In "Left Behind" Places: Learning From Native American Tribal Communities, Robert Maxim

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled, "Investing in 'Left Behind' Places: Learning from Native American Tribal Communities" by Brookings fellow in Brookings Metro, Robert Maxim.

Over the past decade, U.S. political and economic discourse has centered on helping “left behind” places. The federal government joined this conversation, emphasizing everything from tariffs and trade protectionism to revitalize domestic industry, to landmark industrial policy bills aimed at pouring new federal investment into lagging places. Native American tribes can serve as an important case study for understanding how federal, state, and local policies can …

Collaborative Research Report: Building Home Care Worker Capacity, Luke Santore, Catherine Ipsen, Stephen Mccall, Jiyeon Kim, Genna M. Mashinchi

Employment

RTC:Rural and PHI researchers examine the rising demand for home-based care and ways to increase the workforce and retain home care workers through worker-supportive policies such as increased wages and healthcare insurance.

Doing More Good For Less: Salvaging Development Aid, Trey Dykeman

Richard T. Schellhase Essay Prize in Ethics

In stark contrast to its peak in the Marshall Plan era, professional sentiment towards international development aid has become increasingly pessimistic as its shortcomings have become apparent. Inter alia, leading thinkers charge development aid with enabling and sustaining economic dependency, governmental corruption, political power imbalances, and paternalism. Even so, there may be diamondlike programs in the development aid rough. Cash and voucher assistance (CVA) programs—a subset of development aid—have seen moderate success. In particular, as compared to other forms of aid, unconditional cash transfer programs (UCTs)—a specific type of CVA—appear economical and effective and avoid many of the above …

Risk And Outcomes Of Pregnancy-Related Acute Kidney Injury: A Cohort In Bronx, Ny, Erica Marnet, Mayssaa Hoteit, Isbell Crevantes, Sonail Gupta, Ladan Golestaneh

Posters

Pregnancy-related acute kidney injury (PR-AKI) has been increasing in incidence and is associated with worse maternofetal outcomes. The goal of this study is to examine risk and hospitalization outcomes of PR-AKI compared to pregnancy without AKI in a low-income, minoritized population in Bronx, New York