Business Commons^™

Handwringing Over How To Slice The Pie When Ustr Should Be Focused On Growing It, Christine Mcdaniel

Yeutter Institute International Trade Policy Review

The U.S. International Trade Commission (ITC) recently released its report on the distributional effects of trade and trade policy on U.S. workers and “underrepresented and underserved communities.” The report catalogs a host of information gathered from a literature review and several roundtables on the adverse effects of U.S. manufacturing imports. But the report’s laser focus on manufacturing imports leaves a huge gap for readers interested in the distributional effects of trade.

Manufacturing imports are an important part of trade, but they aren’t all of trade. Trade is imports and exports, goods and services, inputs and final goods. Trade is manufacturing, …

Nebraska Monthly Economic Indicators: November 30, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N fell by 0.12% in October 2022. The leading indicator, which is designed to predict economic growth six months in the future, has fallen in four of the last six months. Such a decline signals a stagnant economy in Nebraska at the beginning of 2023. Four components of the leading indicator worsened during October. There was an increase in initial claims for unemployment insurance, signaling some softening of the Nebraska labor market. There was also an increase in the value of the U.S. Dollar in October. A rising dollar creates challenges for Nebraska businesses that compete in international markets. …

“Friendshoring,” Ag Markets, North American Integration Among Issues Examined At Yeutter Institute Symposium, Geitner Simmons

Yeutter Institute International Trade Policy Review

A Nov. 2, 2022, symposium sponsored by the University of Nebraska-Lincoln’s Yeutter Institute brought together experts addressing a wide array of trade matters, including global ag market dynamics, North American economic integration and Asia-Pacific economic diplomacy. Among the key questions discussed:

— What complications arise for efforts to shift trade policy toward “friendshoring”?

— How well has North American economic integration fared in the wake of NAFTA and its successor, the USMCA?

— What factors, such as the Russian invasion of Ukraine, are currently affecting agricultural markets and global food insecurity?

— What guideposts can best direct U.S. economic diplomacy …

A Comparison Of The Economic Impact Of Horse Racing Tracks In Kentucky Versus Neighboring Indiana, Thomas E. Lambert

Faculty Scholarship

The Louisville metro area is one that spans two states—Kentucky and Indiana. Since the University of Louisville has many students and employees who come from the Hoosier State, it would be interesting to see how the two states compare when it comes to what has been labeled a “signature” industry for the Commonwealth of Kentucky—horse racing.

Nebraska Monthly Economic Indicators: October 26, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.34% in September 2022, after a small decline in July and August. The leading indicator is designed to predict economic growth six months in the future. A flat value for the indicator over the last three months signals a stagnant economy in Nebraska at the end of 2022 and the beginning of 2023. Three components of the leading indicator improved during September. There was an increase in hours worked in the manufacturing industry. There was also a decline in initial claims for unemployment insurance and respondents to the September Survey of Nebraska Business reported plans to …

With No Deterrent Effect, The Wto Dispute Settlement Crisis Leaves Us Exporters Exposed, Especially Us Agriculture, Christine Mcdaniel

Yeutter Institute International Trade Policy Review

The absence of a functioning Appellate Body at the World Trade Organization (WTO) leaves the dispute settlement mechanism weakened, and countries may be more likely to pursue their domestic policy goals in ways that restrict trade. Industries with relatively large export exposure like US agriculture will be particularly vulnerable in this new chaotic regime. The deterrent effect is more important than you think An integral part of the world trading system has been the WTO’s dispute settlement mechanism, which enables the WTO to enforce the rules the Members signed up for. Knowing you could get sued in the WTO for …

A Survey Of Retail Trade Patterns In South Dakota: 2012-2021, Rand E. Wergin

Faculty Publications

This paper provides an analysis of retail sales and retail trade in the state of South Dakota for the years 2012 to 2021. This analysis will provide valuable information to community leaders in the cities and towns of South Dakota. Along with measures such as unemployment and inflation, Retail Pull (RP) provides a measure of community’s economic health. For example, retail is often the largest employer in a city, particularly the smaller communities of South Dakota, and a robust retail sector provides a tax base to support community services. Thus, the economic health of the community depends on the viability …

Perceptions Of The Economy And Employment In Nonmetropolitan Nebraska: 2022 Nebraska Rural Poll Results, Rebecca J. Vogt, Heather Akin, Cheryl A. Burkhart-Kriesel, Bradley Lubben, L. J. Mcelravy, Timothy L. Meyer, Steven A. Schulz, Amanda Tupper

Nebraska Rural Poll

Most rural Nebraskans believe most of the listed economic items will become worse or much worse over the next 12 months when asked in May and June. Almost nine in ten think the following will become worse: inflation, gasoline or diesel fuel prices, grocery prices, and interest rates. In fact, at least four in ten rural Nebraskans believe the following items will become much worse in the next 12 months: gasoline or diesel fuel prices, inflation, grocery prices, and healthcare costs. The two items that had less than one-half believing they would become worse or much worse during the next …

Nebraska Monthly Economic Indicators: September 21, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N changed little in August 2022, falling by just 0.01%. The leading indicator is designed to predict economic growth six months in the future. As a result, the flat value for the indicator in August signals that economic growth in Nebraska will be slow at the beginning of 2023. Several components of the leading indicator worsened during August. First, there was a decrease in building permits for single-family homes, likely in response to rising interest rates. Second, initial claims for unemployment insurance rose during August, suggesting some softening of the state’s strong labor market. By contrast, positive business expectations …

The Economic Impact Of Buying And Redeveloping Ellis Park By Churchill Downs, Thomas E. Lambert

Faculty Scholarship

Churchill Downs’ acquisition of Ellis Park Racing and Gaming in Henderson, Kentucky reflects the growing number of mergers across the US among racetracks, racetracks and casinos, and casinos with other casinos. Some years back, Ellis racetrack closed for one year due to declining profitability, yet after new ownership took over and a gaming center was added, it began a rebound in earnings (Courier and Press 2008). The $75 million that Churchill Downs plans to spend to transform Ellis Park (Schulz 2022) will have a much bigger impact than the construction, revamping, and expansion of park facilities. This is in addition …

Nebraska Monthly Economic Indicators: August 24, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N fell by 0.08% during July 2022. The decrease in the leading indicator, which is designed to predict economic activity six months in the future, signals that economic growth in Nebraska will be slow at the end of 2022 and the beginning of 2023. The indicator declined for two primary reasons. First, there was an increase in the value of the U.S. dollar in July, creating challenges for agriculture, manufacturers, and other businesses that compete in international markets. Second, there was a decline in airline passenger counts in July, likely in response to large increases in airline ticket prices. …

Can Geopolitics Help Restore Missing Tools To The U.S. Trade Toolbox?, Matthew Schaefer

Yeutter Institute International Trade Policy Review

When U.S. trade negotiators and trade litigators seek to increase market access for U.S. goods and services abroad, they look in their toolbox to see what might be the best tool. The more well-stocked the toolbox, the more possibilities for increasing foreign market access. Today, when U.S. trade negotiators look in their toolbox, they see several traditional tools missing, specifically legally-binding, comprehensive (including tariff-cutting) regional and bilateral free trade agreements (FTAs) and large package deals within the World Trade Organization (WTO). Their trade litigator colleagues face a similar circumstance of missing traditional tools, specifically the loss of binding two-level dispute …

Nebraska Monthly Economic Indicators: August 1, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.68% during June 2022. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals that the Nebraska economy will grow slowly through the end of 2022. The indicator improved for two primary reasons. First, there was an increase in manufacturing hours-worked during June. Second, respondents to the June Survey of Nebraska Business reported plans to increase sales and employment.

Electrical Equipment Industry Cluster, Pragati Gautam

2022 REYES Proceedings

The growing collaboration between two or more industries in a specific region in which they work in a symbiotic relationship, providing benefits to each other and contributing in the overall development of the region, is what is popularly known as business clusters. Even though this concept is commonly known and implemented in the West, South Asian economies are unfamiliar with the advantages of this unique business strategy. There are, undeniably, many potential business clusters in these developing countries, which if tapped efficiently, could result into an industrial boom.

This research focuses on investigating the existence of a business cluster in …

Nebraska Monthly Economic Indicators: May 25, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 1.85% during April 2022. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals that the Nebraska economy will continue to grow through the 4th quarter of 2022. The indicator improved for three primary reasons. First, there was a sharp increase in airline passenger enplanements in April as that industry continues to recover. Second, initial claims for unemployment insurance fell, signaling a strong Nebraska labor market. Third, respondents to the April Survey of Nebraska Business reported plans to increase sales and employment. There also was a modest …

Strengthening The Southern Nevada Workforce Pipeline, Katie M. Gilbertson

Student Research

Workforce development has been a keystone in the discussion of economic diversification of Las Vegas for decades. The leisure and hospitality industry is the lifeline for the Southern Nevada economy due to the reliance on tourism as the city’s main economic driver. The leisure and hospitality industry requires physical labor and more face-to-face customer interaction than other employment sectors. Thus, these jobs often do not require high educational attainment, but rather sharp soft skills like effective listening, nonverbal communication, and negotiation strategies. While these are valuable traits, the lack of educational attainment within the leisure and hospitality workforce suppresses employees’ …

Aggregate Online Brand Name Pharmacy Price Dynamics For The United States And Mexico, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

Virtual cross-border medical tourism allows many residents in the United States to purchase brand name medicines from companies in Mexico without travelling there. Monthly economic reports indicate that the online brand name pharmaceutical product prices in Mexico are noticeably lower than the corresponding internet prices in the United States. There have been very few econometric studies on how these prices are linked and the dynamic nature of those relationships. Results in this study indicate that online medicine prices in Mexico respond very rapidly to online prices changes in the high-price market.

Nebraska Monthly Economic Indicators: April 20, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.89% during March 2022. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals continued economic growth in Nebraska through the 3rd quarter of 2022. The indicator improved for two primary reasons. First, initial claims for unemployment insurance fell during March suggesting continued strength in the Nebraska labor market. Second, respondents to the March Survey of Nebraska Business reported plans to increase sales and employment. By contrast, building permits for single-family homes fell during the month. There also was an increase in the value of the U.S. …

Nebraska Monthly Economic Indicators: February 23, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.58% during January 2022. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals moderate economic growth in Nebraska through the summer of 2022. The indicator improved for three primary reasons. There were positive business expectations in January according to respondents to the monthly Survey of Nebraska Business. Initial claims for unemployment insurance also fell during the month as a sign of strength for the labor market. The value of the U.S. dollar also fell, which is helpful for Nebraska businesses that compete in international markets.

Nebraska Monthly Economic Indicators: February 2, 2022, Eric Thompson

Leading Economic Indicator Reports

The LEI-N rose by 0.73% during December 2021. The increase in the leading indicator, which is designed to predict economic activity six months in the future, signals moderate economic growth in Nebraska through June 2022. There were positive business expectations in December and an increase in building permits for single-family homes. Initial claims for unemployment insurance also fell during the month. Among declining indicators, there was a drop in manufacturing hours worked and airline passenger counts during December.

Part 3: Who's At The Bedside? Does Virginia Have Enough Nurses?, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

In 2021, nurses ranked again as the most trusted profession in the United States. Yet, even though many Americans view them favorably, nurses have been the target of conspiracy theories, verbal abuse, and physical violence. As more nurses report symptoms of burnout and some are quitting the profession entirely, we explore the coming shortage of nurses in Virginia and ask what factors limit the supply of nurses.

Views Of Well-Being In Nonmetropolitan Nebraska: 2022 Nebraska Rural Poll Results, Rebecca J. Vogt, Heather Akin, Cheryl A. Burkhart-Kriesel, Bradley Lubben, L. J. Mcelravy, Timothy L. Meyer, Steven A. Schulz, Amanda Tupper

Nebraska Rural Poll

This year, rural Nebraskans are more pessimistic about their current situation than they’ve been in the past nine years. The proportion believing they are worse off than they were five years ago was 21 percent, up from the 11 percent reported last year. This is the highest level since 2013, when 26 percent believed they were worse off. This increase in pessimism did not translate into a decrease in optimism, however. This year, one-half of rural Nebraskans believe they are better off compared to five years ago, similar to 52 percent last year. The corresponding change occurred in a decrease …

Part 2: Another Year In Recovery: Virginia's Metropolitan Areas, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

If Virginia is to continue its recovery from the pandemic economic shock of 2020, this growth will largely come from Virginia’s metropolitan areas. We ask whether Virginians have returned to the labor force in the aftermath of the pandemic and explore how unemployment rates may not reflect the availability of labor. Lastly, we examine how population change may influence the future of Virginia’s metro areas.

Part 5: A Deeper Dive Into The Blacksburg-Christiansburg Metropolitan Area, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

The Blacksburg-Christiansburg metropolitan statistical area includes the counties of Giles, Montgomery, and Pulaski as well as the independent city of Radford. Virginia Tech, with over 37,000 full-time equivalent students in the 2021–2022 academic year, is not only the largest employer in the metro area, but it continues to expand its reach across the Commonwealth. We highlight how the metro region has fared over the last decade and discuss the prospects for future growth.

Nonmetropolitan Nebraskans’ Opinions About Water, Climate, And Energy: 2022 Nebraska Rural Poll Results, Rebecca J. Vogt, Heather Akin, Cheryl A. Burkhart-Kriesel, Bradley Lubben, L. J. Mcelravy, Timothy L. Meyer, Steven A. Schulz, Amanda Tupper

Nebraska Rural Poll

Most rural Nebraskans receive their home tap water from city water or municipal water systems. Just over two-thirds of rural Nebraskans receive their drinking water from a municipal system. One-quarter have private well water and seven percent are on a rural water system.

Many rural Nebraskans have tested their home tap water for nitrates. However, a similar proportion indicated they have not tested their water or are unsure. Persons with higher household incomes are more likely than persons with lower incomes to have tested their home water for each of the items listed. Many persons with the lowest household incomes …

Community Well-Being And Leadership In Nonmetropolitan Nebraska: 2022 Nebraska Rural Poll Results, Rebecca J. Vogt, Heather Akin, Cheryl A. Burkhart-Kriesel, Bradley Lubben, L. J. Mcelravy, Timothy L. Meyer, Steven A. Schulz, Amanda Tupper

Nebraska Rural Poll

Rural Nebraskans are less positive about the current change and expected future change in their communities this year. The proportion believing their community has changed for the better has typically been greater than the proportion believing it has changed for the worse. However, last year the proportion believing their community changed for the worse was slightly more than the proportion believing it had changed for the better (similar to what occurred in 2003 and 2009). This year, that gap widened a bit.

Despite that, rural Nebraskans are positive about their community by many different measures. Most rural Nebraskans rate their …

Front Matter: 2022 State Of The Commonwealth Report, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

Cover, front matter, table of contents, sponsors, and other materials for the 2022 State of the Commonwealth Report authored by the Center for Economic Analysis and Policy at Old Dominion University.

Part 1: Inflation, Uncertainty, And Volatility Undermine Virginia's Recovery, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

If the story of 2020 was the pandemic and the tale of 2021 was the recovery, then rising inflation and interest rates dominated the narrative of 2022. The economic recovery remained incomplete, with jobs returning to pre-pandemic levels but some Virginians remaining outside the labor force. Now, with the possibility of a recession in 2023 looming, we ask how Virginia fared over the last 12 months and what are the prospects for future growth?

Part 4: Virginia's Lawyers Confront Tougher Times, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Commonwealth Reports

While movies and television shows portray lawyers as members of high society, with expensive cars and tastes, the reality is grittier. In 2021, more than 90% of law students took out a loan to enable them to pay their costs, and the typical law school graduate owed $165,000 in loans. The crucial point of this report, however, is that significant proportions of law school graduates are destined to be disappointed if they pursue a career in law believing they will earn lots of money. In this chapter, we explore the supply of lawyers in Virginia and whether we are producing …