Social and Behavioral Sciences Commons^™

A Comparison Of M&T Bank And Citizens Bank Net Income Changes During The Coronavirus Pandemic, Alex R. Glasier

Applied Economics Theses

The COVID-19 pandemic had a tremendous impact on every aspect of life, particularly within the world of banking & finance. All banks saw sharp drops in their stock prices and net income, but my hypothesis is that larger, more established banks maintained more stability during 2020 than smaller banks. This paper analyzes the income statements and balance sheets of M&T Bank (an older, more well-established bank) and Citizens Bank (a less-established bank) during this difficult time.

The first part of my thesis describes similarities and differences between M&T Bank and Citizens Bank. I explain how these similarities and differences may …

The Impact Of Covid-19 Pandemic On Local Fiscal Revenue: Empirical Evidence From The Regions With Dominant Tertiary Sectors, Aisyah Nurrul Jannah, Khoirunurrofik Khoirunurrofik

Economics and Finance in Indonesia

The COVID-19 crisis has devastatingly affected social and economic sectors, including service or tertiary sectors such as banking, insuran;ce, hospitality, telecommunications, and industrial services. The pandemic has also aggravated fiscal conditions along with the slowing economy. This paper aims to assess the impact of COVID-19 on local own-source revenue in regions with dominant tertiary sectors and to examine how a fiscal incentive policy can increase the local own-source revenue. We applied the difference-in-difference panel random effect method by estimating total revenue and local own-source revenue as the outcome variables. The treatment variable is the districts/cities with dominant tertiary sectors of …

Associations Of The Covid-19 Pandemic With Older Individuals' Healthcare Utilization And Self-Reported Health Status: A Longitudinal Analysis From Singapore, Sangnam Ahn, Seonghoon Kim, Kanghyock Koh

Research Collection School Of Economics

Background: The COVID–19 pandemic has challenged the capacity of healthcare systems around the world and can potentially compromise healthcare utilization and health outcomes among non-COVID–19 patients. Objectives: To examine the associations of the COVID-19 pandemic with healthcare utilization, out-of-pocket medical costs, and perceived health among middle-aged and older individuals in Singapore. Method: Utilizing data collected from a monthly panel survey, a difference-in-differences approach was used to characterize monthly changes of healthcare use and spending and estimate the probability of being diagnosed with a chronic condition and self-reported health status before and during the COVID-19 outbreak in 2020. Subjects: Data were …

Life Satisfaction Changes And Adaptation In The Covid-19 Pandemic: Evidence From Singapore, Terence C. Cheng, Kim, Kanghyock Koh

Research Collection School Of Economics

We provide novel evidence on how COVID-19 affected overall life satisfaction using a monthly longitudinal survey of middle-aged and older Singaporeans. We study how the subjective well-being of individuals evolves over the course of 18 months including the outbreak of the pandemic, the implementation of the lockdown and the spike of cases due to the delta variant in a country where COVID-19 is controlled in a sustained manner. Using an event-study design framework, we find large declines in overall life satisfaction in the lead-up to and following the lockdown. Fifteen months after the outbreak of the pandemic, and 13 months …

Long-Term Care In The United States: History, Financing, And Directions For Reform, George A. (Sandy) Mackenzie

Upjohn Press

This book is a concise survey of the development of U.S. long-term care and its financing, with comparisons with other rich countries. It also includes a brief comparative account of the impact of the COVID-19 pandemic in the United States and several other countries. The study finds much that is amiss with American long-term care and proposes three sets of progressively more ambitious reforms.

Case Growth Analysis To Inform Local Response To Covid-19 Epidemic In A Diverse Us Community, Marcia C De Oliveira Otto, Frances A Brito, Ji Yun Tark, Eric Bakota, Jose-Miguel Yamal, Dritana Marko, Shreela V Sharma, Michael R Brown, Savitri N Appana, Alison M Rector, Stephen H Linder, Jennifer Kiger, Karen C Tseng, Alanna C Morrison, Eric Boerwinkle

Journal Articles

Early detection of new outbreak waves is critical for effective and sustained response to the COVID-19 pandemic. We conducted a growth rate analysis using local community and inpatient records from seven hospital systems to characterize distinct phases in SARS-CoV-2 outbreak waves in the Greater Houston area. We determined the transition times from rapid spread of infection in the community to surge in the number of inpatients in local hospitals. We identified 193,237 residents who tested positive for SARS-CoV-2 via molecular testing from April 8, 2020 to June 30, 2021, and 30,031 residents admitted within local healthcare institutions with a positive …

Cities In A Pandemic: Evidence From China, Badi H. Baltagi, Ying Deng, Jing Li, Zhenlin Yang

Center for Policy Research

This paper studies the impact of urban density, city government efficiency, and medical resources on COVID-19 infection and death outcomes in China. We adopt a simultaneous spatial dynamic panel data model to account for (i) the simultaneity of infection and death outcomes, (ii) the spatial pattern of the transmission, (iii) the inter-temporal dynamics of the disease, and (iv) the unobserved city- and time-specific effects. We find that, while population density increases the level of infections, government efficiency significantly mitigates the negative impact of urban density. We also find that the availability of medical resources improves public health outcomes conditional on …

Understanding Covid-19’S Impact On Local Transportation Revenue –A Mid-Crisis View From Experts, Asha Weinstein Agrawal, Serena Alexander, Ashley M. Hooper

Mineta Transportation Institute

When COVID-19 swept into the United States in early 2020, it upended two patterns of behavior critical to transportation funding: how people traveled and where economic activity occurred. This study explored how, one year into the pandemic, experts in California believed that the COVID-19 pandemic was impacting local transportation budgets. We interviewed 34 funding experts who represented local transportation and public works departments, state officials, and municipal finance experts. In these conversations, conducted from December 2020 to March 2021, we asked interviewees how they saw COVID-19 impacting their overall local transportation budgets in the short and long term as well …

The Great Resignation Among Restaurant Workers: A Content Analysis Of News Sources’ Portrayals Of The Covid-19 Labor Shortage, Mackenzie M. Williams

The Cardinal Edge

When workers left the labor market in large numbers during the COVID-19 pandemic, proclamations of a labor shortage emerged extensively throughout the news. In this study, I analyze the coverage of the worker shortage among three news sources with different political orientations. Several themes emerged from analyzing a total of 75 articles. The findings showed that the perspective shown in the article, the cause of the labor shortage, restaurant worker portrayal, support of solutions, and opinion of the labor shortage all differed based on the political identity of the news source. This research supports previous findings that show there is …

Essays On Social Mobility And Distribution, Luis A. Monroy Gómez Franco

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters on the relationship between immutable characteristics of a person (also known as circumstances) and the intergenerational social mobility experienced by them, as well as their human capital accumulation. It pays particular attention to the role played by the economic resources of the household of origin in producing differences in the economic outcomes across persons.

In the first chapter, I show that the decomposition of intergenerational persistence indicators into their structural and positional components offers a clearer understanding of the determinants of heterogeneity in subnational mobility rates. The crucial element for the separate analysis of …

Pharmacy Performance Based On Financial Perspective Before And During Covid-19 Pandemic : A Case Study, Eva Sartika Dasopang, Ida Fauziah, Fenny Hasanah, Desy Natalia Siahaan, Dina Yunisma Rasyida Lubis

Pharmaceutical Sciences and Research

A pharmacy, aside from being a pharmaceutical care provider is also a functioning business. Thus, in the scope of business, pharmacy performance can be analysed using liquidity, activity, and profitability ratios. This study aimed to determine the performance of Pharmacy X based on a financial perspective before and during the COVID-19 pandemic. This research is a descriptive cross-sectional study that employed data obtained from sales and purchase records. The data were analysed using financial ratio analysis methods, including liquidity, activity, and profitability ratios. This study was conducted at Pharmacy X based on the amount of prescription and non-prescription income from …

Analysis Of U.S. Labor Market Matching Efficiencies And New Hires Rates By Gender And State, Mary K. Klinko

Electronic Theses and Dissertations

The first section of this thesis investigates the primary dynamics and trends of the labor market matching efficiency over time. Instead of utilizing the aggregate U.S. matching efficiency in our analysis, we instead use state-level data to create a measure of matching efficiency for each U.S. state in our panel dataset. We also utilize two empirical models: a “base” model, which covers the entire time period of analysis from 2001 to 2021, and a “pandemic” model, which focuses specifically on the time period the COVID-19 pandemic was present in the U.S. The base model attempts to control for supply-side childcare …

A Study Of Canadian Bankruptcies, 2014-2022, Luis Guilherme Mazzali De Almeida

Undergraduate Student Research Internships Conference

This paper studies Canadian monthly bankruptcy data from January 2014 to February 2022 with an aim towards identifying the existence of underlying heterogeneity in the decision-making of firms across different industry sectors during periods of economic adversity. The data used include provincial two-digit NAICS bankruptcy level data, provincial pandemic-related data concerning the evolution of cases and stringency of adopted policies, and external factors pertaining to the domestic and foreign economies such as industry GDP, the overnight rate target, exchange rates, imports and exports, prices, and bond liquidity premium. The method is two-fold. First, we identify changes in bankruptcy trends caused …

Life In An Endemic Covid-19: Older Adults' Well-Being, Activity, And Perceptions, Rachel Ngu, Micah Tan, Jia Ying Low

ROSA Research Briefs

The current research brief provides a preliminary examination of whether older adults have been able to ‘return’ to the pre-pandemic way of life in an endemic COVID-19. To do this, we look at several key indicators, including (1) tracking older adults’ overall life satisfaction, activity levels, and trust in government over the past 3 years, (2) older adults’ confidence to resume activities, as well as subjective perceptions about their safety when leaving the home in an endemic COVID-19, and (3) older adults’ ability to adhere to the Home Recovery Program (HRP), where individuals with COVID-19 are able to recover from …

The Intergenerational Mortality Tradeoff Of Covid-19 Lockdown Policies, Lin Ma, Gil Shapira, Damien De Walque, Quy-Toan Do, Jed Friedman, Andrei A. Levchenko

Research Collection School Of Economics

In lower-income countries, the economic contractions that accompany lockdowns to contain COVID-19 transmission can increase child mortality, counteracting the mortality reductions achieved by the lockdown. To formalize and quantify this effect, we build a macro-susceptible-infected-recovered model that features heterogeneous agents and a country-group-specific relationship between economic downturns and child mortality and calibrate it to data for 85 countries across all income levels. We find that in some low-income countries, a lockdown can produce net increases in mortality. The optimal lockdown that maximizes the present value of aggregate social welfare is shorter and milder in poorer countries than in rich ones.

United States: Primary Dealer Credit Facility, Carey K. Mott

Journal of Financial Crises

In March 2020, the uncertain outlook for the United States in the face of the COVID-19 pandemic prompted extremely high demand for cash and near-cash assets. Amid intense selling pressure from investors, securities dealers were unable to fully absorb the high volume of trade orders into their inventory due to balance sheet capacity and funding constraints. As dealer capacity declined and demand for liquidity continued rising, volatility spread to the critical and normally highly liquid market for US Treasury securities, prompting the Federal Reserve to increase open market operations (March 12) and begin historically large purchases of US Treasuries (March …

United States: Money Market Mutual Fund Liquidity Facility, Carey K. Mott, Mallory Dreyer

Journal of Financial Crises

At the onset of the COVID-19 pandemic in March 2020, prime and tax-exempt money market funds (MMFs) faced increased demands for redemption. Meeting redemptions required MMFs to sell assets into increasingly illiquid markets. Using the emergency authority outlined in Section 13(3) of the Federal Reserve Act, the Board of Governors of the Federal Reserve established the Money Market Mutual Fund Liquidity Facility (MMLF), a facility similar in structure and purpose to a program that the Fed implemented in 2008 amidst the Global Financial Crisis (GFC). The MMLF extended nonrecourse loans to banks and their affiliates for the purchase from some …

Sweden: Corporate Bond Purchases, Carey K. Mott

Journal of Financial Crises

In the spring of 2020, corporate revenues in Sweden felt the direct effects of the coronavirus pandemic and the resulting public health measures. With future cash flows in question, many investors sold corporate debt for safe assets. Sweden's corporate bond market-particularly vulnerable to stress due to its heterogeneity, fragmentation, and lack of transparency-saw diminished liquidity. On March 19, 2020, the Sveriges Riksbank (Riksbank) announced it would purchase commercial paper and corporate bonds as part of a much larger bond-buying scheme, announced three days earlier, that included Swedish government, municipal, and covered bonds. It authorized the program under Chapter 6, Article …

Sweden: Commercial Paper Purchases, Carey K. Mott

Journal of Financial Crises

In March 2020, governments took measures to curb the spread of the COVID-19 pandemic that significantly impacted corporate revenues. The uncertainty surrounding the pandemic drove investors out of corporate securities and into safe assets, complicating the ability of Swedish nonfinancial corporations to finance their operations. As the volume of commercial paper issuance dropped, the Sveriges Riksbank (Riksbank) announced on March 19, 2020, it would purchase commercial paper and corporate bonds as part of a much larger bond-buying scheme that included Swedish government, municipal, and covered bonds. It authorized the program under Chapter 6, Article 5 of the Sveriges Riksbank Act. …

Israel: Corporate Bond Purchase Program, Natalie Leonard

Journal of Financial Crises

By March 2020, the quickly spreading novel coronavirus began disrupting business activity and industry, generating uncertainty throughout the global economy. As financial panic spread, Israeli investors fled to liquidity, impacting equities, corporate bonds, and even Israeli treasury securities. As short-term horizon mutual funds experienced high withdrawals in the first few weeks of March, they were forced to sell corporate bonds. This increase in supply pushed corporate bond prices down, and yields spiked. Between March and May, domestic rating agencies downgraded 23 companies (12% of all rated companies), and by July 2020, yields remained in the double-digits for 23% of corporate …

Canada: Provincial Bond Purchase Program, Natalie Leonard

Journal of Financial Crises

In the beginning of 2020, the outbreak of the novel coronavirus placed significant strain on financial markets and especially affected commodity-producing countries like Canada. As the broad economy contracted, oil-exports fell, and the government imposed public health restrictions to contain coronavirus, the Bank of Canada (BoC) announced emergency measures to ensure functioning of financial markets and to "reach companies and households and foster a robust recovery" (Poloz 2020, 1). One market that faced acute strain was the Canadian provincial bond market. The BoC announced the Provincial Bond Purchase Program (PBPP) through a notice published on April 15, 2020. The stated …

Canada: Corporate Bond Purchase Program, Sharon M. Nunn

Journal of Financial Crises

The Bank of Canada (BoC) activated its Corporate Bond Purchase Program (CBPP) from May 26, 2020, to May 26, 2021, in response to liquidity strains in corporate bond markets that stemmed from economic uncertainty and the COVID-19 pandemic. Policymakers enacted the CBPP as part of a broader suite of policies meant to stabilize the Canadian economy. Through the CBPP, the BoC purchased Canadian corporate bonds through a tender process on the secondary market. The CBPP could hold up to CAD 10 billion (USD 7.7 billion) par value of eligible bonds issued by specific non-deposit-taking firms incorporated in Canada. The bonds …

A General Equilibrium Assessment Of Covid-19’S Labor Productivity Impacts On China’S Regional Economies, Xi He, Edward J. Balistreri, Gyu Hyun Kim, Wendong Zhang

Department of Economics: Faculty Publications

This study introduces a database for analyzing COVID-19’s impacts on China’s regional economies. This database contains various sectoral and regional economic outcomes at the weekly and monthly level. In the context of a general equilibrium trade model, we first formulate a mathematical representation of the Chinese regional economy and calibrate the model with China’s multi-regional input-output table. We then utilize the monthly provincial and sectoral value-added and national trade series to estimate COVID-19’s province-by-month labor-productivity impacts from February 2020 to September 2020. As a year-on-year comparison, relative to February 2019 levels, we find an average 39.5% decrease in labor productivity …

The Impacts Of Ownership And Covid-19 On Firm Performance-Three Essays, Jian Xu

Theses and Dissertations

This dissertation consists of three essays on finance of ownership and COVID-19. In the first essay, we investigate the effect of residual state ownership, foreign ownership, and the interaction between the two on firms' financing patterns. we find that neither firms with residual state ownership only nor firms with foreign ownership only are positively related with external finance. In comparison, firms with both state and foreign ownerships are associated with higher external finance. The increased external finance for firms with both state and foreign ownerships mainly comes from private banks and new equity. Moreover, we explore the channels through which …

Dampak Kebijakan Psbb Terhadap Konsentrasi Pm2.5 Di Indonesia, Erwin Dariyanto

Jurnal Kebijakan Ekonomi

The aims of this study was to examine the impact of implementation of the Large-Scale Social Restriction or PSBB policy on the concentration of particulate matter 2.5 (PM_2.5). The observation period lasted from September 1, 2019 to December 31, 2020 in five major cities in Indonesia, namely Jakarta, Bandung, Yogyakarta, Semarang, and Surabaya. The data was processed using the fixed effect least square dummy variable (LSDV) model to test the impact of the PSBB policy or restrictions on citizen mobility to reduce the spread of COVID-19 on PM_2.5 concentrations.

As a result, the PSBB policy had a …

Finance And Fear: Sentiment, Media, And Financial Markets During The Covid-19 Pandemic, Alison N. Sommers

Honors Theses

This thesis aims to build on existing research of market psychology and the effect of sentiment on financial markets. The main objective of this study is to determine the ability of investors to make rational decisions during the most recent period of high sentiment. The anomalies that have occurred in the stock market can be better understood by market psychology which focuses on the biases and social factors that influence investors. The media is a newly relevant factor impacting the volume of sentiment present in the market. A review of literature reveals that many studies of sentiment and financial market’s …

Credit Availability For Minority Business Owners In An Evolving Credit Environment: Before And During The Covid-19 Pandemic, Mark E. Schweitzer, Brett Barkley

External Papers and Reports

No abstract provided.

Bank Types, Inclusivity, And Payroll Protection Program Lending During Covid-19, Mark K. Cassell, Michael Schwan, Marc Schneiberg

External Papers and Reports

No abstract provided.

Covid-19, The New Urban Crisis, And Cities: How Covid-19 Compounds The Effects Of Economic Segregation And Inequality On Metropolitan Economic Performance, Richard Florida, Todd Gabe

External Papers and Reports

No abstract provided.

Nevada Economic Development And Public Policy 2022-2026: A Sustainable Future For All Nevadans, The Lincy Institute, Brookings Mountain West

Policy Briefs and Reports

This report evaluates economic development efforts in the State of Nevada since the 2011 publication of Unify, Regionalize, Diversify: An Economic Development Agenda for Nevada; assesses demographic and economic trends for Nevada and its regions; examines how state and federal actions since the onset of COVID-19 can position Nevada and its regions to address long-standing economic, educational, and social deficits; and offers policy recommendations to be implemented in the next four years to facilitate a sustainable future for all Nevadans.