Social and Behavioral Sciences Commons^™

Reassessing The Linkages Among Entrepreneurship, Institutions And Growth, Edinaldo Tebaldi, Joilson Giorno

Mathematics and Economics Faculty Journal Articles

This article examines the role of institutions and entrepreneurship to foster economic development under increasing complex economic structures caused by structural changes. The empirical work utilizes data from several sources including the Penn World Table 9.1, The Global Entrepreneurship and Development Institute, the Observatory of Economic Complexity (OEC) at the MIT, and The International Country Risk Guide (ICRG). The empirical work circumvents the endogeneity and heterogeneity problem that plague cross-country regressions by using the Arellano and Bover (1995) and Blundell and Bond (1998) system GMM estimator. The results show that while entrepreneurship is positively correlated to economic development, this correlation …

The Pink Tax: A Comparative Case Study Between Tennessee And Washington State, Megha Chitturi

Baker Scholar Projects

The imposition of an additional luxury tax on menstrual health products, otherwise referred to as the “Pink Tax” or the “Tampon Tax”, is present in some states while absent in others. The decision to repeal such a tax is one that has proven to be critical, as it removes the connotation that such products are of “luxury” and make them more accessible to menstruators throughout the state. As of 2023, twenty-three states have eliminated the tax. The state of Washington falls under that parameter while Tennessee does not. The purpose of this undergraduate honors thesis is to explore the potential …

The Discriminatory Effects Of Monetary Policy Among Different Labor Market Demographics, Darren Stanton

Honors Projects in Economics

While great strides have been made in America’s pursuit of racial and gender equality, there is still a clear gap in terms of economic success (Carpenter & Rodgers, 2004). Current research has shown that one factor that could be contributing to this is the adverse effects that contractionary monetary policies designed to achieve a 2% average inflation rate has on these groups in the labor market (Seguino & Heintz, 2012). Existing literature suggests this is because of their lower attachment rate to their jobs, jobs that are more likely to be eliminated when interest rates increase. This research will seek …

Economic Growth And Cultural Attitudes Towards Women: An Empirical Investigation, Jake Barlow

Honors Projects in Economics

This study explores the relationship between cultural attitudes towards women and national GDP growth, across several countries. Data from the World Values from 2017 through 2020 wave has been utilized to determine cultural attitudes, and data from the World Bank and USAID has been utilized for building the economic growth model. The purpose of this study is to inform policy makers regarding the effects of policies that are pro gender equality and to identify the effects of gender inequality on economic growth, independent of other economic factors. In addition, this study also investigates the relationship between cultural attitudes towards women …

Comparing Hospital Costs & Lengths Of Stay For Cancer Patients In New York State Comprehensive Cancer Centers Vs. Non-Designated Academic Centers & Community Hospitals, Ryan Fodero

Economics Student Scholarship

This paper explores differences in costs and lengths of stay for cancer patients admitted to National Cancer Institute-designated Comprehensive Cancer Centers, non-designated academic medical centers, and community hospitals in New York State using patient-level data from the New York State Statewide Planning and Research Cooperative System Hospital Inpatient Discharges dataset from 2017-2019. We employ ordinary least squares and Poisson regressions to compare hospital costs and length of stay for cancer patients, controlling for hospital type, patient demographics, and patient health. Inpatient costs were 27% higher, but length of stay was 12% shorter, in comprehensive cancer centers relative to community hospitals. …

Team Incentives And Lower Ability Workers: An Experimental Study On Real Effort Tasks, Richard B. Freeman, Xiaofei Pan, Xiaolan Yang, Maoliang Ye

Economics Faculty Working Papers

Team incentives are important in many compensation systems that pay workers according to the output of their team as well as to their own output, with team bonuses often depending on whether the team meets or exceeds specified thresholds. Yet little is known about how team members with different abilities respond to compensation rules and thresholds. We contrast the performance of lower ability participants and higher ability participants in an experiment with three distribution schemes – equal sharing, piece rate sharing, and tournament style winner-takesall – in settings with and without a team threshold. Workers randomly assigned to equal sharing …

Inflation Expectations Can Be A Self-Fulfilling Prophecy, Aurobindo Ghosh, Khyati Chauhan, Muskan Bagrodia

Research Collection Lee Kong Chian School Of Business

In a commentary, SMU Assistant Professor of Finance (Education) Aurobindo Ghosh, SMU postgraduate student and Research Assistant for the SInDEx Project Muskan Bagrodia and International Monetary Fund Economic Research Assistant Khyati Chauhan weighed in on why inflation expectations matter as much as economic data. They discussed how inflation expectations can be a self-fulfilling prophecy, and shared the key takeaways of the quarterly DBS-Sim Kee Boon Institute’s Singapore Index of Inflation Expectations (DBS-SKBI SInDEx) survey. They concluded that effective communication on inflation control measures, in addition to credible policy decisions, will help consumers feel assured and refrain from basing purchasing decisions …

Natural Disasters And Government Size: A Cross-Country Analysis, Justin Hainse

Honors Projects in Economics

re have been multiple studies within the field of economics concerning the various effects that natural disasters have on countries. The goal of the present study is to address the seemingly forgotten area of how natural disasters affect the size of a government. Using data from both the Emergency Events Database and the World Bank, a cross-country panel data analysis is performed to test the impact of natural disasters on government size. The results show that more deaths from a natural disaster is associated with countries having a larger government. These results aim to be useful for allowing governments to …

The Effect Of Crude Oil Prices On Personal Consumption Expenditure, Eileen Cooney

Economics Student Scholarship

Eileen Cooney ’23
Majors: Quantitative Economics and Political Science
Minor: Finance
Faculty Mentor: Dr. Fang Dong, Economics

The author used the time series models to analyze how growth of personal consumption expenditure is influenced by financial and economic determinants. Results show that both oil price and consumer sentiment play important roles in influencing consumption growth.

Disparities Within The Housing Market: Determinants Of Homeownership With An Emphasis On Sex And Race, Olivia Lemire

Honors Projects in Economics

A home is one of the wealthiest assets an individuals can hold and serves as a major indicator of economic wellbeing. The decision for someone to rent or buy a home is based upon many factors. Similar, to Hood (1999), this paper analyzes the relationship between determinants of homeownership and the probability that an individual owns their home using regression and probability models. The focus of this paper is the relationship between sex and race on homeownership. Results suggest that White males have the highest rate of homeownership, while Black females have the lowest rate of homeownership even after all …

Investing In Democratic Countries: An Investigation Of Democracy And Fdi, Maxwell Lajeunesse

Honors Projects in Economics

In this paper, the relationship between Foreign Direct Investment (FDI) inflows and democracy levels of upper-middle income nations using three different measures of democracy is investigated. An empirical analysis across the years 2010 through 2018 was conducted, using the democracy indicators and data from the United States Agency for International AID (USAID). These democracy indicators are the EIU Democracy Index, Polity5, and IDEA Global State of Democracy Indices. The importance of this research revolves around the benefits of FDI inflows and how countries may capitalize on these benefits. Additionally, FDI has increased rapidly in the past 20 years and democracy …

Footballer Valuations: Valuing World-Class Football Players Against Transfer Fees, Louis Diblasi

Honors Projects in Economics

This paper aims to create a model to value European football players. It will do so by comparing a player's transfer fee and then measuring their value based on performances in the season after the transfer has occurred. The model will be applied to Europe's top five leagues: the English Premier League, Serie A, La Liga, Ligue 1, and the German Bundesliga. This study takes variables from multiple past studies to be used in the model, and adds a valuation for goalkeepers, which has never been done before. The goal of this study is to measure the variables that contribute …

Movin’ On Up? A Survey Experiment On Mobility Enhancing Policies, Jared Barton, Xiaofei Pan

Economics Faculty Journal Articles

We use a nationwide survey experiment in the United States to measure whether information on intergenerational economic mobility or policy-specific arguments influence support for six pro-mobility policies advocated by political entrepreneurs. We find the information treatments do not affect support, but the argument treatments significantly increase support for three of the policies. We also include a behavioral measure by allowing respondents the opportunity to write their U.S. Senators. We find argument treatments significantly increase the likelihood that letters address economic mobility and significantly promote advocacy for that policy in the letter, but no increase in advocacy from the information treatments. …

Tapping On Growth Opportunities Through Trade And Investment, Andy Feng, Gerald Foong, Geraldine Lim

Research Collection School Of Economics

As a small and open economy, external developments play a crucial role in shaping Singapore’s growth prospects. In particular, external demand is pivotal in supporting the growth of Singapore’s gross domestic product (GDP) beyond the limits afforded by a small domestic market. Furthermore, due to the resource constraints faced by Singapore, its production of goods and services to meet both external and domestic demand requires a substantial use of imported inputs. Apart from trade, Singapore’s openness and outward-orientation also extend to its embrace of inward and outward investments to grow its economy and create jobs for Singaporeans. In view of …

Experimental Economics, Andree Rathemacher

Library Impact Statements

No abstract provided.

The Effect Of Task Choice And Task Assignment On The Gender Earnings Gap: An Experimental Study, Kai Ou, Xiaofei Pan

Economics Faculty Journal Articles

Previous studies explain the gender earnings gap by gender differences in choosing competitive and higher-paying jobs. However, little is known about whether and how women’s earnings are affected when they choose more challenging jobs. In this study, we use a novel identification strategy to investigate 1) how the gender earnings gap arises from individuals’ self-selecting into different tasks and 2) whether mobilizing women to work on the tasks typically preferred by men increases women’s earnings and decreases the earnings gap. Our results show that men who prefer the hard and higher-paid task are more likely to obtain higher earnings regardless …

The “America First” Trade Policy Of The Trump Administration And Its Economic And Military Repercussions, Emily Jeffers

Senior Honors Theses

This paper looks at the “America first” trade policy of the Trump administration and the perception that it was used to accomplish his goals of economic and military independence from the rest of the world’s interdependent web. It looks at the history of trade policy and tariffs in the United States; this is then linked to the evolution of President Trump’s trade policy through the implementation of tariffs, renegotiation of trade deals, and revision of military policy in order to “decouple” from the rest of the world. It examines the US-China trade war and the desire for increased global trade …

Does Student Performance In Introductory Economics And Business Courses Impact Ets Scores?, Peter J. Nigro, Laura Beaudin, David C. Ketcham, Michael A. Roberto

Finance Department Faculty Journal Articles

This study examines the impact of economics education on student performance on the Educational Testing Service Major Field Test in Business. We demonstrate that grades in introductory microeconomics and macroeconomics courses have a positive relationship with overall exam performance as well as sub-scores in most content areas of the test. Furthermore, we use a measure of “extranormal” ability in economics and demonstrate its positive relationship to test performance. “Extranormal” ability represents the portion of course grades that cannot be explained by prior academic achievement. Finally, we show that the relationship between “extranormal” ability and exam performance is much more limited …

Go Books, Go Bulldogs, Go Women: Examining The Factors That Affect Female Enrollment At Undergraduate Schools, Sarah Desantis

Honors Projects in Economics

This study investigates women's underrepresentation and the declining enrollment trend in undergraduate business programs by examining New England schools between 2015-2017. The study uses a linear regression model, testing a variety of variables including student characteristics and outcomes, college characteristics, funding and faculty, and women-related experiences measured against the dependent variable of percentage of women enrolled. The study found that (1) the presence of a women's center increases women enrollment; (2) the greater diversity representation on campus increases women enrollment; (3) women are more attracted to private universities and are less likely to attend with an increase in the undergraduate …

Prediction Of Individual Income: A Machine Learning Approach, Michael Matkowski

Honors Projects in Economics

The use of machine learning models to improve prediction problems and handle increasingly large datasets is a rising trend in economics. Prediction plays a particularly important role in applied economics because it provides critical insights to assess market outcomes. This study builds on previous literature to showcase the relative power of these modelling methodologies in economics through the prediction of income. This research utilizes data from the Current Population Survey from 2017 – 2020, containing 467,811 observations and 264 variables. 2017-2018 data served as training data for the models and 2019-2020 served as data for the two testing sets. The …

China’S Ancient Principles Of Price Regulation Through Market Participation: The Guanzi From A Comparative Perspective, Isabella Weber

Economics Department Working Paper Series

The History of Economic Thought as a field has long taken it as a premise that so far as ancient economic thought is concerned, only the Greeks and Romans are worth studying. This paper introduces the Guanzi as a core text in ancient Chinese economic thought on price stabilization from a comparative perspective with ancient Greek contributions. The Guanzi presents a framework for the empirical analysis of market fluctuations and price movements and derives principles of economic governance from this analysis. In contrast Plato and Aristotle come to the question of price determination from the angle of moral philosophy. They …

Are Community Banks A Driver Of New Business Formation? Empirical Evidence From The United States From 2005 To 2015, Christopher Dodd

Honors Projects in Economics

The number of small banks in the U.S. has dropped drastically since the Global Financial Crisis (GFC) (Federal Deposit Insurance Corporation [FDIC], 2018). Small businesses, which are essential to a well-functioning economy, often rely on banks as a source of financial capital. This study helps explain if the number of community banks in a state impacts new business formation and whether financial regulation passed following the GFC, specifically the DoddFrank Wall Street Reform and Consumer Protection Act of 2010, moderates the significance of the relationship. This thesis contributes to the literature in a few major ways. First, it provides a …

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 …

Determinants Of A Computer And Information Literacy Test Score: A Comparison Across 19 Countries, Tishay Davis

Economics Student Scholarship

Major: Finance and Business Economics
Faculty Mentor: Dr. Fang Dong, Economics

The International Computer and Information Literacy Study (ICILS) is a computer-based international assessment of eighth-grade students’ capacities “to use information communications technologies (ICT) productively for a range of different purposes, in ways that go beyond a basic use of ICT” (Fraillon, Ainley, Schulz, Duckworth and Friedman 2018). It is sponsored by the International Association for the Evaluation of Educational Achievement (IEA) and was first conducted in 2013 with 21 participating countries. The research papers that used ICILS 2013 data include Rohatgi, Scherer, and Hatlevik (2016), Scherer, Rohatgi, and Hatlevik …

Low And Negative Foreign Interest Rates: Their Impact On The Level Of Foreign Holdings Of U.S. Treasury Bills, Christopher Arnold

Economics Student Scholarship

Major: Business Economics
Minor: Finance and Spanish

Faculty Mentor: Dr. Fang Dong and Dr. Leo Kahane, Economics

Largely motivated by the recent yield curve inversion, the paper examines the effect of a negative interest rate environment abroad on foreign countries holdings of U.S. Treasuries. The study uses a panel dataset covering 95 developed countries over 16 years, including economic and financial composition variables, as well as push and pull factors that impact capital flows. The study uses Poisson regression as its estimation method and ultimately finds that countries facing a negative real interest rate are expected to hold 24% more …

Income Inequality, Progressive Taxation And Tax Expenditures, James R. Hines Jr.

Book Chapters

There are important and growing concerns about income inequality in the United States and other high-income countries. These concerns reflect rising apprehension about the political and social consequences of inequality and worries that the advance of technology, expanding international trade and investment, and other economic developments may have significantly widened income gaps in recent decades and will continue to do so in the future. In the United States, these concerns have prompted renewed calls for political activism and vigorous searches for policy measures that might improve the relative economic positions of low- and middle-income Americans.

There are many ways in …

Brain Drain In The Mountain West, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights the effects of major shifts in geographic mobility patterns of highly-educated citizens in the Mountain West (Nevada, Utah, Arizona, New Mexico, and Colorado). The phenomenon, dubbed “brain drain” by experts, is characterized by the out-migration of a group of highly-educated people. “Brain gain” describes the opposite: when a location attracts highly-educated people. Several states are keeping and welcoming more highly-educated adults, while other states are rapidly losing talent. This migration pattern has important implications for social, political, and economic issues facing the country.

Cross-Country Evidence Of Corruption Spillovers To Formal And Informal Entrepreneurship, Aziz N. Berdiev, James Saunoris

Economics Faculty Journal Articles

Using cross‐country data this paper examines the spillovers of corruption to formal and informal entrepreneurship in neighboring countries. Whereas research has shown that entrepreneurs move underground to escape corruption, we argue that entrepreneurs may also seek refuge in neighboring countries. Indeed, the empirical results show that in response to a ceteris paribus increase in corruption in neighboring countries formal entrepreneurship increases in the home country with no effect on informal entrepreneurship. This is consistent with entrepreneurs circumventing corrupt public officials by immigrating to countries with presumably less corruption. These results withstand a battery of robustness checks. (JEL D73, L26)

Rhode Island Current Conditions Index -- October 2019, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Economic Growth In Mountain West Metropolitan Areas, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights trends in America’s economic progress, demonstrating how four metropolitan statistical areas (MSAs) in the Mountain West region (Salt Lake City, Phoenix-Mesa-Scottsdale, Las Vegas-Henderson-Paradise, and Denver-Aurora-Lakewood) fared from 2016 to 2017 and from 2007 to 2017 compared to the national economy and the 100 largest metropolitan economies.