Social and Behavioral Sciences Commons^™

Is The Taylor Rule Still An Adequate Representation Of Monetary Policy In Macroeconomic Models?, James Dean, Scott Schuh

Economics Faculty Working Papers Series

No abstract provided.

The Eastern Panhandle Economic Outlook: 2022-2026, John Deskins, Brian Lego

Bureau of Business & Economic Research

West Virginia’s Eastern Panhandle (EPH) has been the state’s strongest economic region for well over a decade, experiencing sustained growth in population, employment, income and a host of other major economic indicators. The three-county area has recovered nearly all the jobs lost during the COVID-19 recession and has seen its workforce return to pre-pandemic levels. In this report, we present a detailed discussion of the current state of the EPH economy along with our forecast for the likely path of economic activity over the next five years.

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.

The Economic Impact Of The Longview Power Plant On West Virginia, Eric Bowen, John Deskins

Bureau of Business & Economic Research

In this report, we consider the potential economic impact of the Longview Power Plant’s switch to in-state coal suppliers, and the Longview Power Plant overall. In addition to increased coal purchases, we estimate the PPA would generate an additional $19.4 million in related economic activity in the state, for a total economic impact of more than $58 million annually.

The Economic Impact Of The Fort Martin Power Station On The Monongalia County And West Virginia Economies, Eric Bowen

Bureau of Business & Economic Research

In this report, we estimate the economic impact of the Fort Martin Power Station on both the West Virginia economy and the Monongalia County economy. We begin with an overview of the effects of the COVID pandemic on Monongalia County’s economy, followed by the economic impact of the power station.

The Economic Impact Of The Harrison Power Station On The Harrison County And West Virginia Economies, Eric Bowen

Bureau of Business & Economic Research

In this report, we estimate the economic impact of the Harrison Power Station on both the Harrison County economy and the West Virginia economy. We begin with an overview of the effects of the COVID pandemic on Harrison County’s economy, followed by the economic impact of the power station.

North Central West Virginia Economic Outlook: 2022-2026, Brian Lego, John Deskins

Bureau of Business & Economic Research

North Central West Virginia has been one of a few economic regions in state to record steady economic growth over the past decade, but the area has dealt with some struggles over the past couple of years. The COVID-19 recession led to an abrupt loss in jobs in the spring of 2020 and the pandemic continues to weigh on local economic activity for a variety of factors. The closure of Mylan’s manufacturing plant in mid-2021 will be a significant limiting factor to the area’s recovery. In this report, we present a detailed discussion of North Central West Virginia’s economy along …

Primer On West Virginia’S Role In Pjm, Eric Bowen

Bureau of Business & Economic Research

In this briefing paper, we describe each of the three major roles taken on by PJM and how they relate to West Virginia’s electricity market.

Wheeling Area Economic Outlook: 2022-2026, John Deskins, Brian Lego

Bureau of Business & Economic Research

The Wheeling Area has experienced major episodes of economic volatility in recent years. Indeed, the region has swung between periods natural gas pipeline construction activity adding thousands of jobs locally, only to be followed by unprecedented job losses in just two months due to the COVID-19 recession. In this report, we present a detailed discussion of the Wheeling Area economy and an economic forecast of the region covering the next five years.

Information Avoidance And Celebrity Exposure: The Effect Of "Magic" Johnson On Aids Diagnoses And Mortality In The U.S., Alexander Cardazzi, Joshua C. Martin, Zachary Rodriguez

Economics Faculty Working Papers Series

No abstract provided.

Employee Satisfaction And Stock Returns During The Covid-19 Pandemic, Mary J. Becker, Alexander Cardazzi, Zachary Mcgurk

Economics Faculty Working Papers Series

The COVID-19 Pandemic has had an unprecedented impact on how employees and employers operate. Employees, directly affected by workplace changes, may provide information regarding future efficiencies. As a result, crowdsourced employee satisfaction (ES) reviews mentioning the COVID-19 Pandemic may contain useful information regarding the future profitability of these firms. We utilize crowdsourced COVID-19 Pandemic specific ES obtained from Glassdoor.com to determine the impact on abnormal stock returns for public firms from March-December 2020. We find evidence that higher COVID-19 ES is related to higher abnormal stock returns. While non-COVID ES is found not to be related to abnormal stock returns.

Occupational Licensing And Intra-Msa Effects: Massage Therapists In The Us, Noah J. Trudeau

Economics Faculty Working Papers Series

Occupational licensing has been shown to have many pervasive economic effects. Licensing restricts competition, which causes wage premiums, potentially induces rent seeking, and ultimately results in consumers having to pay high prices through both channels of reduced supply and producers passing on increased cost of doing business.

Licensing laws are passed at the state level; and thus, there can be considerable variation across states. Should there be much economic activity at state borders, this would be inconsequential. Yet, the existence of metropolitan areas spanning state borders begs the question of what effects can restricting competition be when competitive substitutes are …

Greater Wheeling Regional Plan: Economic Profile, Eric Bowen, Christiadi, Brian Lego, Cody Adams

Bureau of Business & Economic Research

The Greater Wheeling region, defined in this report as consisting of Brooke, Hancock, Marshall and Ohio counties in West Virginia, and Belmont, Jefferson, and Monroe counties in Ohio, has experienced a volatile economy over the past decade with significant swings in employment across multiple sectors.

In this report, we make a detailed examination of the recent economic indicators in the Greater Wheeling region. This report is part of a series from West Virginia University researchers at the Bureau of Business and Economic Research and the WVU Extension Service that evaluate the Wheeling Metropolitan Area’ economy with the goal of providing …

Greater Wheeling Regional Plan: Workforce And Education Assessment, Christiadi, Eric Bowen

Bureau of Business & Economic Research

Human capital is a crucial element of any regional economic growth plan, as companies looking to locate or grow in a region require a skilled workforce to meet the demands of their businesses. In this report, we examine human capital in the Wheeling Metropolitan Statistical Area, focusing on occupational and educational requirements to support the region’s growth over the next five years.

Greater Wheeling Regional Plan: Action Plan For Economic Development, Michael J. Dougherty, Eric Bowen, Christiadi

Bureau of Business & Economic Research

The Wheeling Region has a long and rich history. However, the passage of time and the change that it has brought has not always been beneficial to the region. As a result, leaders in the region have begun a process to reevaluate and reinvent the Wheeling area and improve the regional economy. In this report, we discuss these strategies and recommend actions to further the Wheeling region’s economic development.

Greater Wheeling Regional Plan: Industrial Cluster Analysis, Eric Bowen

Bureau of Business & Economic Research

One of the most prominent strategies followed by economic development officials is to identify what the region already does well and work to enhance these strengths. Improving on a region’s competitive advantage has been the focus of Porter’s work on economic clusters, which he defines as network of companies that forms within a geographic location based on supplier relationships. In this report, we identify the industry clusters that are present in the Wheeling Metropolitan Statistical Area (MSA) and provide tools to assess the most promising clusters for economic development targeting. This type of cluster analysis has become an increasingly important …

Greater Wheeling Regional Plan: Survey Results, Michael J. Dougherty, Cody Adams

Bureau of Business & Economic Research

The Wheeling Area Strategic Plan included a process for public involvement. Originally, it was to have involved holding open forums and in-person stakeholder meetings. The sessions had been scheduled for early Spring, but they were delayed and eventually cancelled because of the COVID-19 pandemic. Instead, we conducted a web-based survey to gather ideas and opinions from people from across the region.

Supply And Demand Of Health Care Professionals In West Virginia, Christiadi, Eric Bowen, John Deskins

Bureau of Business & Economic Research

This study examines the supply and demand of health care workers at the state-level using a specific subset of the data that can help explain the supply-demand condition of jobs in the health care industry.

Health Care Professionals Data File, Various

Bureau of Business & Economic Research

In this document, we provide all available data requested by the Legislature in House Bill 4434. To provide as much data as possible, we have collected data from private data brokers, health care professional licensing organizations, and state agencies. Because of the volume of this data, we have presented it here with no analysis.

Parkersburg Area Economic Outlook: 2021-2025, Joseph Gutmann, Sarah Ihlenfeld, Sofia Nunez, Ryan Snyder

Bureau of Business & Economic Research

The Parkersburg Area economy has generally struggled over the past several years. Even though the region outperformed many other portions of West Virginia during the early- to mid-2010s, the five-county area has failed to gain much traction since 2015. Indeed, the Parkersburg Area lost nearly 4,000 jobs between early-2015 and mid-2017. The region did see a modest rebound in job growth during 2018 and 2019, due in large part to gains in manufacturing and construction activity.

Huntington Area Economic Outlook: 2021-2025, John Deskins, Brian Lego

Bureau of Business & Economic Research

The Huntington Area’s1 economy failed to gain any traction during the 2010s, recording no measurable job over the course of the decade. Unfortunately, the region’s economy was dealt another blow by the COVID-19 recession in early-2020.

The Economic Impact Of Coal And Coal-Fired Power Generation In West Virginia, Christiadi, Eric Bowen, John Deskins

Bureau of Business & Economic Research

While coal production in West Virginia has declined by more than 50 percent over the past decade or so, the sector remains an important part of the state’s economy. In this report, we consider the contribution of coal mining and coal-fired power generation to the state’s employment base, economic output, and tax revenue.

The Economic Impact Of Natural Gas Unitization In West Virginia, Eric Bowen

Bureau of Business & Economic Research

In this study, we examine the potential economic impact of instituting a unitization law in West Virginia. The economic impact of natural gas unitization will depend largely on the increase in drilling and production that will come as a result of resource unitization. We define two scenarios whereby drilling activity in West Virginia is assumed to increase by either 5 percent or 10 percent above current levels. We then estimate the additional economic activity from three major sources: well construction, spending due to ongoing production, and royalties paid to rights-holders within the state.

Examining Future Expansion Opportunities At The Morgantown Industrial Park, Brian Lego, Christiadi

Bureau of Business & Economic Research

The Morgantown Industrial Park (MIP) encompasses a wide area between the Monongahela River and Interstate-79, and currently houses approximately 20 companies. A new interchange on Interstate 79 at River Road (approximately mile marker 151) is expected to improve access to the industrial park in a substantial manner, allowing expanded access into the MIP and creating the opportunity to house a variety of new businesses from several sectors. In this study, we provide a brief look at the North Central West Virginia region’s economic and demographic characteristics as a means of assessing the area’s viability and attractiveness to potential businesses. Measures …

Economic Structure In Appalachia’S Urban Regions: Clustering And Diversification Strategies, Randall W. Jackson, Peter Jarosi, Gi-Eu Lee, Sara Farhangdoost

Cluster Analyses

In support of economic development practitioners’ efforts to devise strategies that can align with both industrial clustering and industrial diversification, this report provides a wide range of relevant measures and metrics. In addition to standard regional analysis tools like coefficients of specialization, location quotients, and growth rates, we introduce two fundamentally new measures for understanding the nature of regional clusters. These measures focus on the industries that anchor the clusters and characterize their strength and regional dominance. The former measures the share of the anchor industry’s direct and indirect requirements that could be satisfied by regional industries, and the latter …

Economic Structure In Appalachia’S Urban Regions: Clustering And Diversification Strategies Supplement 3, Regions 61-90, Randall W. Jackson, Peter Jarosi, Gi-Eu Lee, Sara Farhangdoost

Cluster Analyses

In support of economic development practitioners’ efforts to devise strategies that can align with both industrial clustering and industrial diversification, this report provides a wide range of relevant measures and metrics. In addition to standard regional analysis tools like coefficients of specialization, location quotients, and growth rates, we introduce two fundamentally new measures for understanding the nature of regional clusters. These measures focus on the industries that anchor the clusters and characterize their strength and regional dominance. The former measures the share of the anchor industry’s direct and indirect requirements that could be satisfied by regional industries, and the latter …

Economic Structure In Appalachia’S Urban Regions: Clustering And Diversification Strategies Supplement 4, Regions 91-120, Randall W. Jackson, Peter Jarosi, Gi-Eu Lee, Sara Farhangdoost

Cluster Analyses

In support of economic development practitioners’ efforts to devise strategies that can align with both industrial clustering and industrial diversification, this report provides a wide range of relevant measures and metrics. In addition to standard regional analysis tools like coefficients of specialization, location quotients, and growth rates, we introduce two fundamentally new measures for understanding the nature of regional clusters. These measures focus on the industries that anchor the clusters and characterize their strength and regional dominance. The former measures the share of the anchor industry’s direct and indirect requirements that could be satisfied by regional industries, and the latter …

Economic Structure In Appalachia’S Urban Regions: Clustering And Diversification Strategies Supplement 1, Regions 1-30, Randall W. Jackson, Peter Jarosi, Gi-Eu Lee, Sara Farhangdoost

Cluster Analyses

In support of economic development practitioners’ efforts to devise strategies that can align with both industrial clustering and industrial diversification, this report provides a wide range of relevant measures and metrics. In addition to standard regional analysis tools like coefficients of specialization, location quotients, and growth rates, we introduce two fundamentally new measures for understanding the nature of regional clusters. These measures focus on the industries that anchor the clusters and characterize their strength and regional dominance. The former measures the share of the anchor industry’s direct and indirect requirements that could be satisfied by regional industries, and the latter …

Economic Structure In Appalachia’S Urban Regions: Clustering And Diversification Strategies Supplement 2, Regions 31-60, Randall W. Jackson, Peter Jarosi, Gi-Eu Lee, Sara Farhangdoost

Cluster Analyses

In support of economic development practitioners’ efforts to devise strategies that can align with both industrial clustering and industrial diversification, this report provides a wide range of relevant measures and metrics. In addition to standard regional analysis tools like coefficients of specialization, location quotients, and growth rates, we introduce two fundamentally new measures for understanding the nature of regional clusters. These measures focus on the industries that anchor the clusters and characterize their strength and regional dominance. The former measures the share of the anchor industry’s direct and indirect requirements that could be satisfied by regional industries, and the latter …

An Economic Analysis Of Appalachian Power Industry Ecosystems County-Level Pie Supply Chain Analysis, Randall Jackson, Péter Járosi

Power Industry Ecosystem

This report describes an effort to provide for the Appalachian Region a clearer picture of the implications for the Power Industry Ecosystem (PIE) of power generating technology transitions and the geographical variations in PIE impacts. We develop and implement three measures that reveal meaningful characteristics of the PIE at the county level in terms of industry and place-based PIE dependence, changes in PIE-dependent employment, and susceptibility to impacts from a continued energy sector transition. We then use these three measures—Dependence, Impact, and Risk—to form a typology that we apply to identify and focus on counties in three identifiable categories: Hardship …