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Articles 1 - 30 of 78
Full-Text Articles in Social and Behavioral Sciences
Universal Preschool And Maternal Labor Force Participation: Evidence From Florida And Vermont, Hannah Keidan
Universal Preschool And Maternal Labor Force Participation: Evidence From Florida And Vermont, Hannah Keidan
Honors Papers
The United States lags far behind other developed countries in terms of preschool provision and access. Because subsidized preschool effectively serves as childcare for enrolled students, preschool policies have ramifications in the labor market; namely, whether or not parents return to work after having children. This paper investigates the only two state-wide universal pre-k programs in the country, those of Florida and Vermont. I use a synthetic controls approach in order to address the impact these programs have had on maternal labor force participation rates in each state. I find that while Vermont’s pre-k policy may have produced a significant …
Avoidance Behavior Due To More Stringent Environmental Standards: Evidence From The Leed Certifcation, Spencer Tu
Avoidance Behavior Due To More Stringent Environmental Standards: Evidence From The Leed Certifcation, Spencer Tu
Honors Papers
LEED certification is the most widely used green building rating system in the world. The certification is a symbol of sustainability achievement, and on November 1st, 2016, the rating system transitioned into a more stringent one. Using data on the LEED applicants, this paper studies the applicants' behavior response to the transition. The analysis yields three main results. First, the total number of applicants to LEED increased significantly in October 2016 and decreased drastically once more rigorous standards are in place. Second, the proportion of applicants receiving the basic certification is significantly higher for applicants that bunched in October 2016. …
The Relationship Between School Shootings And Gun Acquisition Rates, Sun-Il (Sun) Moon
The Relationship Between School Shootings And Gun Acquisition Rates, Sun-Il (Sun) Moon
Honors Papers
In this paper, I seek to understand how communities respond to tragic events involving violence, exploring the relationship between school shootings and gun acquisition rates. Using National Instant Criminal Background Check System (NICS) as a proxy for firearm acquisition rates, I estimate an event study framework, finding that gun acquisition rates increase by up to 32% one month after a school shooting compared to firearm acquisition rates one month before a school shooting. Furthermore, I supplement my analysis by using Google Search data on firearms. Additionally, I stratify my analysis by the four census regions and whether a school shooting …
The Stock Connect Programs: A Study Of Their Impact On Chinese Stock Returns And Global Stock Markets Integration, Jiadi Cheng
The Stock Connect Programs: A Study Of Their Impact On Chinese Stock Returns And Global Stock Markets Integration, Jiadi Cheng
Honors Papers
The Stock Connect programs are important steps for China to liberate its relatively restricted financial market. The Shanghai – Hong Kong Stock Connect program launched in 2014, and the Shenzhen – Hong Kong program launched in 2016 allowed both institutional and individual international investors access to the Chinese stock market for the first time. This paper studies the impact of the Stock Connect programs on Chinese stock returns and Chinese stock market’s integration with international stock markets using 2SLS regression analysis. Regression results show that the launch of the SH – HK Stock Connect program increased daily returns of all …
Determinants Of Alumni Giving To A Private U.S. College: Evidence From Oberlin College, Kenneth Kitahata
Determinants Of Alumni Giving To A Private U.S. College: Evidence From Oberlin College, Kenneth Kitahata
Honors Papers
This paper studies the personal characteristics and factors that determine alumni giving using a dataset from Oberlin College from 1974-2019. Liberal arts colleges like Oberlin are especially dependent on gifts to cover operating expenses and fund endowments as they don’t receive direct public funding. Using Logit and Tobit regression, I find that females, graduates, age, alumni whose spouse attended Oberlin, being married, and GPA are associated with higher giving. Media coverage in years when Oberlin faces bad press lowers giving. The state charitable tax deduction increases giving on the intensive margin (total amount donated) but not the extensive margin (likelihood …
The Study Of Parental Educational Investment In Left-Behind Children In China, Zilin (Kelley) Zhong
The Study Of Parental Educational Investment In Left-Behind Children In China, Zilin (Kelley) Zhong
Honors Papers
This paper studies the effect of lengths of separation between parents and child on the amount of tuition paid for children in China, using the China Family Panel Survey data from 2010, 2012 and 2014. It also studies the factors that affect tuition for rural left-behind children in China such as children's preferences for education, children's characteristics, parents' reasons to give birth, and teacher attributes, with provinces and year fixed effects. I found that mothers or fathers who live with their children for 2 to 4 months in the past year pay statistically significantly more tuition than fathers or mothers …
The Aca's Dependent Coverage Mandate: An Investigation Of Its Effects On Mortality With Regard To Race, Jack W. Derwin
The Aca's Dependent Coverage Mandate: An Investigation Of Its Effects On Mortality With Regard To Race, Jack W. Derwin
Honors Papers
I add to literature investigating the effects of the Affordable Care Act’s (ACA) dependent coverage mandate (DCM). I examine how the mandate, which increased health insurance coverage for 19 to 25 year-olds, impacted short-run mortality rates for the affected age group. Unlike previous research, I examine if and how young adult mortality was affected differentially by race. I use data from the CDC’s “WONDER” database to conduct difference-in-difference analysis to assess the effects of the policy change on mortality. I find that the DCM had a significant negative impact on mortality rates for the affected age group as a whole, …
Noise Traders In Large-Cap And Small-Cap Portfolios: Impact Of Sentiments On The Mispricing, Eunjun Choo
Noise Traders In Large-Cap And Small-Cap Portfolios: Impact Of Sentiments On The Mispricing, Eunjun Choo
Honors Papers
This paper analyzes the impact of “irrational” investor’s sentiment on the abnormal returns of low and high cap stock portfolios. The “rational” and “irrational” sentiments are constructed using asset pricing fundamentals and the AAII sentiment survey data. The abnormal returns are calculated as the difference between the actual and FamaFrench model returns. I note that due to higher limits of arbitrage for the small cap stocks, the main effect of the “rational” and “irrational” sentiments on the small-cap portfolio seems stronger than on the large-cap portfolio. Moreover, I note that the mispricing of the large-cap stocks seems to revert to …
Initial Coin Offerings: The Role Of Subjective Information In Whitepapers, Jiahang Zhang
Initial Coin Offerings: The Role Of Subjective Information In Whitepapers, Jiahang Zhang
Honors Papers
Initial coin offerings (ICOs) are an unregulated form of financing that raises funds by issuing crypto tokens using blockchain technology. In this paper, I explore the relationship between the level of mispricing at ICOs and the subjectivity in whitepapers, which are documents released before ICOs that provide details on the features of the tokens. The subjective information is examined by indices of confidence, tone, and readability. The model in this paper analyzes a sample of 258 ICOs that ended during January to October 2018. I find that the confidence score of a whitepaper is negatively associated with the daily excess …
Can Machine Learning On Economic Data Better Forecast The Unemployment Rate?, Aaron S. Kreiner
Can Machine Learning On Economic Data Better Forecast The Unemployment Rate?, Aaron S. Kreiner
Honors Papers
This paper examines different machine learning methods to project the U.S. unemployment rate one year ahead. The forecasts include a naive forecast equal to the current unemployment plus the change of unemployment over the last year, along with forecasts from a Lasso regression and a neural network model. The last two models, which can be quickly run using an SQL database, select data from the Federal Reserve Economic Database (FRED) and are fitted (trained) in-sample from 1970 to 2000 to forecast quarterly unemployment rates over 2001 to 2018. The training window is updated in each forecast quarter to include new …
Delegate Voting At The 1787 Constitutional Convention: The Entanglement Of Economic Interests And The Great Compromise, Emily Highkin
Delegate Voting At The 1787 Constitutional Convention: The Entanglement Of Economic Interests And The Great Compromise, Emily Highkin
Honors Papers
How did the economic interests of the delegates to the 1787 Constitutional Convention impact delegate voting before and after the resolution of the Great Compromise? This research introduces the use of a delegate’s deviation from his state’s majority as the dependent variable in a model that divides the Convention into two periods around the Compromise. Covariates include several measures of a delegate’s economic interest, proxies for his personal ideology, and controls for his place of origin. Results indicate that three economic interests (owning a greater number of slaves, a home county further from navigable water, and holding public securities) significantly …
Patterns In Road Maintenance: An Analysis Of San Diego Roads, Kendall Caitlin Alexandra Mahavier
Patterns In Road Maintenance: An Analysis Of San Diego Roads, Kendall Caitlin Alexandra Mahavier
Honors Papers
This paper examines what impacts road improvement patterns in San Diego, with a particular focus on how the income or racial demographics of an area may effect the area's roads. There are also, however, several other types of variables that are examined to understand how road maintenance is distributed across the city. The analysis covers a four year period from 2011 to 2015 and uses an Overall Condition Index number to assess the roads. Three linear models are run, and some of the key findings include: areas with a higher income generally have better roads; racial demographics don't impact road …
Regulatory Uncertainty And The Natural Gas Industry In The Us, Jasper W. Clarkberg
Regulatory Uncertainty And The Natural Gas Industry In The Us, Jasper W. Clarkberg
Honors Papers
The United States is in the midst of a natural gas boom, but it’s unclear how long this high level of extraction is sustainable given the regulatory trajectory around carbon emissions and climate change. This paper examines how natural gas firms perceive regulatory uncertainty as measured by their capital expenditure. Using rig count data as a proxy for natural gas capital investment, I explore different ways to measure the perceived threat of state-level regulation and differing firm responses. I find strong evidence that regulatory uncertainty decreases the capital investments of firms, although I find that the effect of proposed regulation …
Age Of Immigration And Adult Labor Market Outcomes: Childhood Environment In The Country Of Origin Matters, Aaron Watson Mccartney
Age Of Immigration And Adult Labor Market Outcomes: Childhood Environment In The Country Of Origin Matters, Aaron Watson Mccartney
Honors Papers
This paper builds on previous studies that have examined the effect of age of immigration on adult labor market outcomes by considering the potential impact of the childhood environment in the country of origin. 2000 United States Census data and historical child mortality data is used to quantify the impact of the childhood environment in the country of origin on the effect of age of immigration on adult labor market outcomes. Results from children who immigrated to the United States between ages zero and ten indicate that the impact of age of immigration on adult labor market outcomes is more …
The Effects Of Foreign Language Acquisition On Wages For Us College Graduates, Christopher Nguyen
The Effects Of Foreign Language Acquisition On Wages For Us College Graduates, Christopher Nguyen
Honors Papers
This paper seeks to determine whether fluency in a foreign language has a significant impact on future earnings. The sample in question is made up of US college graduates who attained their bachelor’s degrees during the 2007-2008 school year. While previous literature suggests that there is a positive impact of 2-3% higher wages on top of a bachelor’s degree for those who are fluent in a foreign language, I am unable to find this general premium for fluency in a foreign language. I look at interactions of foreign language and their relative difficulty and, once again, do not find a …
The Impact Of The State Children's Health Insurance Program On Educational Outcomes In The United States: A Two-Fold Analysis, Olivia Simuoli
The Impact Of The State Children's Health Insurance Program On Educational Outcomes In The United States: A Two-Fold Analysis, Olivia Simuoli
Honors Papers
This paper examines the impact of the State Children’s Health Insurance Program (SCHIP) on the educational outcomes of American children as measured by fourth and eighth-grade math and reading standardized test scores from the time of the program’s inception up to the year 2013. More specifically, I focus on the effects of the increases in eligibility for children’s public health insurance coverage brought about by SCHIP on average test scores across the nation at both the state level for all 51 states and the county level for Florida’s 67 counties. On the state level, I am ultimately unable to find …
Effect Of Water Levels And Beach Availability On Waterfront Homes, Benjamin Towson Whitener
Effect Of Water Levels And Beach Availability On Waterfront Homes, Benjamin Towson Whitener
Honors Papers
Previous hedonic pricing models have studied in depth the aesthetic value of views, as well as the recreational value of proximity to waterfronts. This study examines the same proximity and aesthetic effects in Milwaukee, Wisconsin, and builds in the effect of changing water levels and beach availability on those implicit values. Results indicate that aesthetic effects of living adjacent to the waterfront, as well as proximity, are insignificant. Water levels are negatively correlated with home prices, but this effect is not magnified or dimmed for waterfront homes. Beach availability has an ambiguous effect on home prices; statistical significance was found …
Medicaid And Education: The Impact Of Medicaid Coverage On Children's Educational Trajectory, Melissa Atlas
Medicaid And Education: The Impact Of Medicaid Coverage On Children's Educational Trajectory, Melissa Atlas
Honors Papers
This paper examines the impact of Medicaid and the State Children's Health Insurance Program (CHIP) on children's educational progress, namely whether they are on track with their expected educational trajectory. It also examines cross-state variation in Medicaid policies and whether these different policies lead to different effects on the educational variable. With individual-level data from the Current Population Survey from years 1995 through 2006, along with information regarding each state's Medicaid policies, I seek to test the hypotheses that Medicaid/CHIP coverage will improve the likelihood of an individual being on track with his/her education and that states with qualitatively "better" …
An Evaluation Of Mergers In The U.S. Petroleum Industry, Matthew D. Capozzi
An Evaluation Of Mergers In The U.S. Petroleum Industry, Matthew D. Capozzi
Honors Papers
This paper analyzes the effects of mergers and acquisitions on the profitability of both participating firms and competitor firms in the U.S. petroleum industry. It also identifies distinct economic conditions and firm specific characteristics that are correlated with the performance of the firm and the merger. The span of the study reaches from 1995-2011. It incorporates four unique, yet characteristic mergers of the domestic petroleum industry. The paper finds evidence that mergers and acquisitions affect the profitability of participating firms positively and competitor firms negatively. This study also provides insight into how uniform mergers and acquisitions in this industry may …
Private Corrections, Public Implications: The Local Economic Effects Of Private Prisons, Charlotte Landes
Private Corrections, Public Implications: The Local Economic Effects Of Private Prisons, Charlotte Landes
Honors Papers
The coercive power of the state is unique among its responsibilities. And yet, like many government services, incarceration is becoming more widely privatized. These for-profit prisons market themselves as a solution to state-wide and local economic woes alike. Using standard regression analysis, I test the truth of these claims by exploring the relationship between privatized prisons and local economic health measured by county employment rate and income per capita. I find no significant relationship between the public/private nature of a prison and the employment rate, but there may be evidence of private prisons depressing county income. As we move forward …
Tarp: Indication Of A Potential Target? Evaluating Market To Book Ratios And Their Relationship To Tarp, Oscar Garcia
Tarp: Indication Of A Potential Target? Evaluating Market To Book Ratios And Their Relationship To Tarp, Oscar Garcia
Honors Papers
This paper examines to what extent banks with outstanding Troubled Asset Relief Program (TARP) debt are perceived as potential takeover targets. Each bank's price-to-tangible-book value is related to a series of fundamental bank ratios and market index as well as a series of TARP variables that capture if a bank took TARP and for how long. The results show that middle tiered banks (with assets between 500 million and 5 billion) are positively associated with retaining TARP, which may suggest they are perceived as takeover targets. In addition, banks with higher valuations have lower non-performing assets, net charge offs, loan …
Payment Schemes And Moral Hazard, James Foust
Payment Schemes And Moral Hazard, James Foust
Honors Papers
In a principal-agent relationship, the principal offers a take-it-or-leave-it contract to the agent, who decides to either accept it or not. In game theory terminology, the principal agent relationship is a Stackelberg game in which the principal is the leader, proposing the contract, and the agent is the follower, choosing to accept or reject the proposal. Examples of such relationships are plentiful, such as a principal bank manager hiring an agent employee to work as a teller, a principal land-owner acting hiring an agent farmer to grow crops on her land, or an insurance company offering a home insurance plan …
An Investigation Into Crowd Out Phenomenon In Local Churches: Combining Experimental And Survey Methodology, Matthew Moench
An Investigation Into Crowd Out Phenomenon In Local Churches: Combining Experimental And Survey Methodology, Matthew Moench
Honors Papers
This paper presents the findings of an experimental investigation into crowd out phenomenon in an as yet unexplored sector of public goods provision: the local church. I develop an entirely new instrument for experimental investigation into crowd out, using a combination of both survey and experimental methodology. While the survey finds limited evidence for an aggregate crowd out effect due to taxation, the experimental treatments uncover no evidence of crowd out in local churches due to fiscal illusion.
The Effects Of Federal Reserve Liquidity Facilities On Inter-Bank Borrowing Rates, Isaac Green
The Effects Of Federal Reserve Liquidity Facilities On Inter-Bank Borrowing Rates, Isaac Green
Honors Papers
In the summer of 2007, stress in money markets created concern among economic policymakers. Fears of counter-party risk and concerns regarding the quality of bank collateral caused tremendous funding pressures for commercial and investment banks, which relied heavily on short-term borrowing. Initial attempts by the Federal Reserve to provide liquidity to banks and to alleviate strains in money markets through conventional monetary policy channels proved ineffective. After a sustained period of financial stress, the Federal Reserve introduced several programs in late 2007 and in early 2008 to address the liquidity needs of market participants. These programs were geared toward addressing …
Strategic Competition Over School Inputs And Outputs, Gary Richard Cohen
Strategic Competition Over School Inputs And Outputs, Gary Richard Cohen
Honors Papers
Although public schools are not generally subject to direct competition for students, it is commonly thought that they nonetheless face competition through parents' residential choice. Such competitive effects are likely to depend on the relative proximity of school districts if it is less costly to move short distances than long, or if parents are able to more easily send their children to nearby districts through open enrollment policies. Using panel data for 607 Ohio school districts from 1998 to 2007, I test for strategic interaction over teacher salaries and standardized test scores. I present evidence that Ohio public school districts …
Heterogeneous Gain Forecasting Using Historic Asset Information, Nicolas Sippl-Swezey
Heterogeneous Gain Forecasting Using Historic Asset Information, Nicolas Sippl-Swezey
Honors Papers
Using historic return inputs in a stylized computational financial market, this paper explores how participant outcomes are affected by the degree to which their asset allocation behavior responds to new market information. Findings support the efficient market hypothesis in that no alternate trading rule shows consistent improved outcomes relative to a full market exposure buy-and-hold strategy over the given time period. The only exception occurs briefly at the bottom of the 2008 financial crisis. Market participants that drastically alter market exposure in response to volatile returns, however, do outperform those who alter their exposure less drastically. Furthermore, the trading rules …
Narrowing The Gap: New Evidence On Earnings Differentials Based On Sexual Orientation, Mikayla Lytton
Narrowing The Gap: New Evidence On Earnings Differentials Based On Sexual Orientation, Mikayla Lytton
Honors Papers
Using General Social Survey data from 1989 to 2008, I estimate earnings differentials between heterosexual and queer workers. When following the model specified in earlier studies, I find that queer men earn between 11.6% less than their heterosexual counterparts and that queer women earned approximately 11.6% more than their heterosexual counterparts. When respecifying the model to account for the gender composition of individuals’ occupations, I find that queer men’s earnings are not statistically different from straight men’s earnings, and the earnings advantage enjoyed by queer women drops marginally, to 10.5%. This addition significantly improves upon the explanatory power of the …
The Impact Of A Tuition Fee Policy In Scotland; Evidence From A Natural Experiment, Margot Hanley
The Impact Of A Tuition Fee Policy In Scotland; Evidence From A Natural Experiment, Margot Hanley
Honors Papers
In this paper I investigate the relationship between tuition fees and enrollment in higher education; in particular, the effect that the abolishment of upfront tuition fees (which were replaced by a graduate payment scheme) in Scotland for Scottish students had on their enrollment rate into universities in England. Several explanations have been offered as to why tuition response might be relatively large. Tuition is the most visible college price, and it is the one that is most inescapable. College tuitions are conspicuous, and students are unusually conscious of them. Annual increases generally are well publicized and often debated publicly. In …
When It Pays More To Earn Less, Robyn Leslie
When It Pays More To Earn Less, Robyn Leslie
Honors Papers
The poorest individuals in the United States face some of the highest marginal tax rates on additional earned income. These tax rates arise from the benefit reduction rates of cash and in-kind transfer programs, and are often above 100%. Tax rates over 100% create a situation for low-income individuals where earning more leaves them with less after tax income. These implicit tax rates caused by welfare programs have an additive effect. If an individual participates in multiple welfare programs he or she will face a higher tax rate on his or her earned income. This study reveals that the structures …
Microenterprises Performance Under Consulting Services And Clustering: A Study Of Egypt And Turkey, Ahmad Zia Wahdat
Microenterprises Performance Under Consulting Services And Clustering: A Study Of Egypt And Turkey, Ahmad Zia Wahdat
Honors Papers
Besides access to credit, the presence of consulting services and formation of clusters play an important role in microenterprises performance. I analyze the impact of consulting services and clustering on microenterprises' profits and assets in Egypt and Turkey, using a unique dataset on medium and small enterprises in both countries. I find that use of consulting services, and clustering, positively affect the profits and assets of microenterprises.