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Economics

Selected Works

2018

Articles 1 - 30 of 56

Full-Text Articles in Social and Behavioral Sciences

What Is The Use Of The Colonial Model (Or, Better Yet, The Concept Of Coloniality) For Studying Appalachia?, Jacob L. Stump Dec 2018

What Is The Use Of The Colonial Model (Or, Better Yet, The Concept Of Coloniality) For Studying Appalachia?, Jacob L. Stump

Jacob Stump

No abstract provided.

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Promise Scholarship Programs And Local Prosperity, Michelle Miller-Adams, Edward Smith Oct 2018

Promise Scholarship Programs And Local Prosperity, Michelle Miller-Adams, Edward Smith

Michelle Miller-Adams

We argue that place-based college scholarships, if designed intentionally and leveraged effectively, can foster local economic development. Since the introduction of the Kalamazoo Promise in 2005, a growing number of communities have applied the place-based approach to investments in human capital through the creation of college scholarship programs. Reviewing the existing literature on educational and economic outcomes associated with Promise programs reveals that they can expand students’ postsecondary aspirations, improve a school district’s college-going culture, and increase college enrollment and degree attainment while promoting in-migration of residents and positive growth in housing prices. Therefore, these programs can serve a broader …

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Mapping Quality Of Life In Nebraska: The Geographic Distribution Of Poverty, Grant Daily, Rodrigo Cantarero, Maria Rosario De Guzman, Soo-Young Hong, Sarah Taylor, Aileen Garcia, Jeong-Kyun Choi, Yan Ruth Xia Oct 2018

Mapping Quality Of Life In Nebraska: The Geographic Distribution Of Poverty, Grant Daily, Rodrigo Cantarero, Maria Rosario De Guzman, Soo-Young Hong, Sarah Taylor, Aileen Garcia, Jeong-Kyun Choi, Yan Ruth Xia

Aileen Garcia

Headings:

What is poverty?

Federal definitions of poverty: the poverty line

General poverty and poverty brackets

Poverty and vulnerable populations

Child poverty (under 18 years)

Young child poverty (0 - 5 years)

School age poverty (6 - 17 years)

Elderly poverty (65+)

Comparing child, adult, and elderly poverty

Minority poverty

Key points

Nebraska vs. United States

Geographic distribution

Poverty in children and the elderly

Poverty rates for racial/ethnic minorities

References

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A Tale Of Two Democrats: How Authoritarianism Divides The Democratic Party, Julie Wronski, Alexa Bankert, Karyn Amira, April A. Johnson, Lindsey C. Levitan Sep 2018

A Tale Of Two Democrats: How Authoritarianism Divides The Democratic Party, Julie Wronski, Alexa Bankert, Karyn Amira, April A. Johnson, Lindsey C. Levitan

April Johnson

Authoritarianism has been predominantly used in American politics as a predictor of Republican identification and conservative policy preferences. We argue that this approach has neglected the role authoritarianism plays among Democrats and how it can operate within political parties regardless of their ideological orientation. Drawing from three distinct sets of data, we demonstrate the impact of authoritarianism in the 2016 Democratic Party’s primaries. Authoritarianism consistently predicts differences in primary voting among Democrats, particularly support for Hillary Clinton over Bernie Sanders. This effect is robust across various model specifications including controls for ideology, partisan strength, and other predispositions. These results highlight …

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Trading Sustainably: Critical Considerations For Local Groundwater Markets Under The Sustainable Groundwater Management Act, Nell Green Nylen, Michael Kiparsky, Kelly Archer, Kurt Schneir, Holly Doremus Sep 2018

Trading Sustainably: Critical Considerations For Local Groundwater Markets Under The Sustainable Groundwater Management Act, Nell Green Nylen, Michael Kiparsky, Kelly Archer, Kurt Schneir, Holly Doremus

Nell Green Nylen

The Sustainable Groundwater Management Act (SGMA), passed in 2014, is changing the way California manages its groundwater resources. SGMA calls for the creation of local Groundwater Sustainability Agencies (GSAs) and tasks them with developing and implementing Groundwater Sustainability Plans (GSPs) to achieve sustainable groundwater management. SGMA offers GSAs a broad palette of tools to choose from and significant flexibility to tailor their management activities to local conditions and needs. Because it allows GSAs to assign groundwater extraction allocations to pumpers and to authorize transfers of these allocations under certain circumstances, SGMA potentially opens the door for the development of local …

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Economic Development And Democracy: A Disaggregated Perspective, Carl Henrik Knutsen, John Gerring, Svend-Erik Skaaning, Jan Teorell, Matthew Maguire, Michael Coppedge, Staffan I. Lindberg Aug 2018

Economic Development And Democracy: A Disaggregated Perspective, Carl Henrik Knutsen, John Gerring, Svend-Erik Skaaning, Jan Teorell, Matthew Maguire, Michael Coppedge, Staffan I. Lindberg

Matthew Maguire

In recent decades, modernization theory has been challenged. Studies have found that richer countries are more likely to maintain democratic rule, but that the initial transition to democracy is unrelated to economic development, or that even the former relationship is spurious, disappearing once country fixed-effects are accounted for. Others counter that the relationship between development and democracy is restored if historical data stretching back to the nineteenth century is incorporated, if different estimators are used, or when conditioning the relationship on institutional or leadership changes taking place. Thus, the modernization debate, at present, rests upon a complex set of modeling …

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The Integrity Of Women In Re-Making A Nation: The Case Of Guinea-Bissau, Brandon Lundy, Raul Mendes Fernandes Jr., Kezia Lartley Aug 2018

The Integrity Of Women In Re-Making A Nation: The Case Of Guinea-Bissau, Brandon Lundy, Raul Mendes Fernandes Jr., Kezia Lartley

Brandon D. Lundy

This article both acknowledges and celebrates the role of women in re-making the nation of Guinea-Bissau. A gendered perspective and historical and multi-scalar framing demonstrates that women have played integral roles in nation-building over time and space in Guinea-Bissau. How have the women of Guinea-Bissau fashioned their agency? Where are the new forms of agency for women in Guinea-Bissau? An examination of nation-building shows the foundational roles of women, unique aspects of innovative economic enterprise before, during, and after the colonial period, and contemporary political efforts by women toward the production of a successful and inclusive country. Gender has opened …

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Introduction: Sustainable Livelihoods, Conflicts, And Transformation, Brandon D. Lundy, Akanmu G. Adebayo Aug 2018

Introduction: Sustainable Livelihoods, Conflicts, And Transformation, Brandon D. Lundy, Akanmu G. Adebayo

Brandon D. Lundy

Introduction to the Journal of Global Initiatives Volume 10, Number 2 "Sustainable Livelihoods and Conflict."

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The Economics Of Job Search: New Insights From An Upjohn Institute-Federal Reserve Bank Of Chicago Conference, Brad J. Hershbein, Claudia Macaluso Aug 2018

The Economics Of Job Search: New Insights From An Upjohn Institute-Federal Reserve Bank Of Chicago Conference, Brad J. Hershbein, Claudia Macaluso

Brad J. Hershbein

No abstract provided.

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Incentives And Local Job Creation, Timothy J. Bartik Aug 2018

Incentives And Local Job Creation, Timothy J. Bartik

Timothy J. Bartik

No abstract provided.

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Decision Incision Collision: Modeling Patient Choice With Social Network Analysis, Justin Clark, Jaret Treber Jul 2018

Decision Incision Collision: Modeling Patient Choice With Social Network Analysis, Justin Clark, Jaret Treber

Jaret Treber

No abstract provided.

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Toward A Theory Of Entry In Moral Markets: The Role Of Social Movements And Organizational Identity, Brandon Lee, Panikos Georgallis Jul 2018

Toward A Theory Of Entry In Moral Markets: The Role Of Social Movements And Organizational Identity, Brandon Lee, Panikos Georgallis

Brandon Lee

A growing body of research on moral markets—sectors whose raison d’être is to offer market solutions to social and environmental issues—has offered critical insights into the emergence and growth of these sectors. Less is known, however, about why some firms enter moral markets while others do not. Drawing from research on market entry, organizational identity, and social movements, we develop a theory that highlights the potential of organizational identity to explain variation in entry into moral markets. We then expand our framework by theorizing about contingencies that alter the shape of the relationship between organizational identity and market entry: the …

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Understanding The Decline Of U.S. Manufacturing Employment, Susan N. Houseman Jun 2018

Understanding The Decline Of U.S. Manufacturing Employment, Susan N. Houseman

Susan N. Houseman

U.S. manufacturing experienced a precipitous and historically unprecedented decline in employment in the 2000s. Many economists and other analysts—pointing to decades of statistics showing that manufacturing real (inflation-adjusted) output growth has largely kept pace with private sector real output growth, that productivity growth has been much higher, and that the sector’s share of aggregate employment has been declining—argue that manufacturing’s job losses are largely the result of productivity growth (assumed to reflect automation) and are part of a long-term trend. Since the 1980s, however, the apparently robust growth in manufacturing real output and productivity have been driven by a relatively …

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The Causal Effects Of Short-Selling Bans: Evidence From Eligibility Thresholds, Alan D. Crane, Kevin Crotty, Sebastien Michenaud, Patricia L. Naranjo Jun 2018

The Causal Effects Of Short-Selling Bans: Evidence From Eligibility Thresholds, Alan D. Crane, Kevin Crotty, Sebastien Michenaud, Patricia L. Naranjo

Sébastien Michenaud

We identify the causal effects of short-selling bans on stock prices using regression discontinuity (RD). We exploit three threshold-based rules that determine a stock’s short-selling eligibility on the Hong Kong Stock Exchange. Short-selling bans have a large effect on short-selling volume at all thresholds. Despite this, bans do not affect stock prices. Stock returns, volatility, and crash risk are not different for banned versus unrestricted stocks when appropriate counterfactual stocks are used to measure a ban’s effects. Our findings suggest that short-selling bans are not as costly as previously argued, but are ineffective at reducing volatility or buttressing prices.

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Inversion Copulas From Nonlinear State Space Models With An Application To Inflation Forecasting, Michael S. Smith, Worapree Ole Maneesoonthorn May 2018

Inversion Copulas From Nonlinear State Space Models With An Application To Inflation Forecasting, Michael S. Smith, Worapree Ole Maneesoonthorn

Michael Stanley Smith

We propose the construction of copulas through the inversion of nonlinear state space models. These copulas allow for new time series models that have the same serial dependence structure as a state space model, but with an arbitrary marginal distribution, and flexible density forecasts. We examine the time series properties of the copulas, outline serial dependence measures, and estimate the models using likelihood-based methods. Copulas constructed from three example state space models are considered: a stochastic volatility model with an unobserved component, a Markov switching autoregression, and a Gaussian linear unobserved component model. We show that all three inversion copulas …

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Real-Time Macroeconomic Forecasting With A Heteroskedastic Inversion Copula, Ruben Loaiza-Maya, Michael S. Smith May 2018

Real-Time Macroeconomic Forecasting With A Heteroskedastic Inversion Copula, Ruben Loaiza-Maya, Michael S. Smith

Michael Stanley Smith

There is a growing interest in allowing for asymmetry in the density forecasts of macroeconomic variables. 
In multivariate time series, this can be achieved with a copula model, where both serial and cross-sectional dependence is captured by a copula function, and the margins are nonparametric. Yet most existing copulas cannot capture heteroskedasticity well, which is a feature of many economic and financial time series. To do so, we propose a new copula created by the inversion of a multivariate unobserved component stochastic volatility model, and show how to estimate it using Bayesian methods. We fit the copula model to real-time data on five …

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Political Competition In Legislative Elections, Stefan Krasa, Mattias K. Polborn May 2018

Political Competition In Legislative Elections, Stefan Krasa, Mattias K. Polborn

Mattias K Polborn

We develop a theory of political competition in legislative elections based upon the notion that majority  party legislators collaboratively influence policy.
Because of this team aspect, a candidate's party label  matters for voters, in addition to his own policy positions.  In equilibrium, candidates may be unable to escape the burden of their party association, and primary voters in both parties can often nominate extremist candidates and still win.
We also show that gerrymandering affects the equilibrium platforms not only in those districts that become more extreme, but also in those that ideologically do not change.

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Distance-Varying Assortativity And Clustering Of The International Trade Network, Angela Abbate, Luca De Benedictis, Giorgio Fagiolo, Lucia Tajoli May 2018

Distance-Varying Assortativity And Clustering Of The International Trade Network, Angela Abbate, Luca De Benedictis, Giorgio Fagiolo, Lucia Tajoli

Luca De Benedictis

In this paper we study how the topology of the International Trade Network (ITN) changes in geographical space, and along time. We employ geographical distance between countries in the World to filter the links in the ITN, building a sequence of sub-networks, each one featuring trade links occurring at similar distance. We then test if the assortativity
and clustering of ITN subnetworks changes as distance increases, and we nd that this is indeed the case: distance strongly impacts, in a non-linear way, the topology of the ITN.We show that the ITN is disassortative at long distances while it is assortative …

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What Works To Help Manufacturing-Intensive Local Economies?, Timothy J. Bartik May 2018

What Works To Help Manufacturing-Intensive Local Economies?, Timothy J. Bartik

Timothy J. Bartik

No abstract provided.

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The Decline Of U.S. Manufacturing Employment - Automation And Trade, Susan N. Houseman May 2018

The Decline Of U.S. Manufacturing Employment - Automation And Trade, Susan N. Houseman

Susan N. Houseman

No abstract provided.

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Imitation In Heterogeneous Populations, Jonas Hedlund, Carlos Oyarzun Apr 2018

Imitation In Heterogeneous Populations, Jonas Hedlund, Carlos Oyarzun

Carlos Oyarzun

Abstract We study a boundedly rational model of imitation when payoff distributions of actions differ across types of individuals. Individuals observe others' actions and payoffs, and a comparison signal. Two possible inefficiencies may arise: (i) uniform adoption, i.e., all individuals choose the action that is optimal for one type but sub-optimal for the other, or (ii) dual incomplete learning, i.e., only a fraction of each type chooses its optimal action. Which one occurs depends on the composition of the population and how critical the choice is for different types of individuals. In an application, we show that a monopolist serving …

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Re-Imagining The Labor Movement As A Social Movement, James Patin Mar 2018

Re-Imagining The Labor Movement As A Social Movement, James Patin

James Patin

This paper presents a new theoretical contribution which seeks to provide a framework
for the labor movement to be rebuilt by engaging both in traditional labor struggles and in social
movements. I argue that the labor movement must use labor power to fight for social change on
all fronts, using demands which bridge member consciousness to social movement
consciousness, as well as framing and organizing tactics which unite the community around the
union. This paper provides a theoretical analysis of labor movement and social movement theory
and practice. We demonstrate that Marxist Theory has been historically present, but that it …

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Progressive Policy, Howard J. Sherman Mar 2018

Progressive Policy, Howard J. Sherman

HOWARD J SHERMAN

This article is based, with some improvements and updating, on chapter 15 of Howard Sherman and Paul Sherman, INEQUALITY, BOOM AND BUST: FROM BILLIONAIRE CAPITALISM TO EQUALITY AND FULL EMPLOYMENT (London and New York: Rutledge, 2018 - see book on this site to read chapter 1). There are two important findings about the United States (U.S.) economy from Sherman (2018). First, each expansion of capitalism during the business cycle causes increased income and wealth inequality. Second, rising inequality is the major cause of recessions, depressions, and unemployment.

The policy proposals in this article are based on those championed by …

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Improving Economic Development Incentives, Timothy J. Bartik Mar 2018

Improving Economic Development Incentives, Timothy J. Bartik

Timothy J. Bartik

No abstract provided.

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Who Benefits From Economic Development Incentives? How Incentive Effects On Local Incomes And The Income Distribution Vary With Different Assumptions About Incentive Policy And The Local Economy, Timothy J. Bartik Mar 2018

Who Benefits From Economic Development Incentives? How Incentive Effects On Local Incomes And The Income Distribution Vary With Different Assumptions About Incentive Policy And The Local Economy, Timothy J. Bartik

Timothy J. Bartik

This report presents results from a simulation model that examines the effects of economic development incentives (e.g., tax incentives such as property tax abatements or job creation tax credits) provided to businesses by state and local governments in the United States. The model simulates effects of incentive policies on the incomes of local residents, both for different income types (e.g., labor income versus property income) and for different income quintiles, under different assumptions about the economy’s workings and public policy. Net benefits of incentives for local incomes are greater if the incentives have greater job-creation effects conditional on their effects …

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Degrees Of Poverty: The Relationship Between Family Income Background And The Returns To Education, Timothy J. Bartik, Brad J. Hershbein Mar 2018

Degrees Of Poverty: The Relationship Between Family Income Background And The Returns To Education, Timothy J. Bartik, Brad J. Hershbein

Timothy J. Bartik

Drawing on the Panel Study of Income Dynamics, we document a startling empirical pattern: the career earnings premium from a four-year college degree (relative to a high school diploma) for persons from low-income backgrounds is considerably less than it is for those from higher-income backgrounds. For individuals whose family income in high school was above 1.85 times the poverty level, we estimate that career earnings for bachelor’s graduates are 136 percent higher than earnings for those whose education stopped at high school. However, for individuals whose family income during high school was below 1.85 times the poverty level, the career …

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Degrees Of Poverty: The Relationship Between Family Income Background And The Returns To Education, Timothy J. Bartik, Brad J. Hershbein Mar 2018

Degrees Of Poverty: The Relationship Between Family Income Background And The Returns To Education, Timothy J. Bartik, Brad J. Hershbein

Brad J. Hershbein

Drawing on the Panel Study of Income Dynamics, we document a startling empirical pattern: the career earnings premium from a four-year college degree (relative to a high school diploma) for persons from low-income backgrounds is considerably less than it is for those from higher-income backgrounds. For individuals whose family income in high school was above 1.85 times the poverty level, we estimate that career earnings for bachelor’s graduates are 136 percent higher than earnings for those whose education stopped at high school. However, for individuals whose family income during high school was below 1.85 times the poverty level, the career …

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Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman Mar 2018

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily …

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Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman Mar 2018

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily …

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Do Medical Marijuana Laws Reduce Addictions And Deaths Related To Pain Killers?, David Powell, Rosalie Pacula, Mireille Jacobson Feb 2018

Do Medical Marijuana Laws Reduce Addictions And Deaths Related To Pain Killers?, David Powell, Rosalie Pacula, Mireille Jacobson

David Powell

Recent work finds that medical marijuana laws reduce the daily doses filled for opioid analgesics among Medicare Part-D and Medicaid enrollees, as well as population-wide opioid overdose deaths. We replicate the result for opioid overdose deaths and explore the potential mechanism. The key feature of a medical marijuana law that facilitates a reduction in overdose death rates is a relatively liberal allowance for dispensaries.  As states have become more stringent in their regulation of dispensaries, the protective value generally has fallen. These findings suggest that broader access to medical marijuana facilitates substitution of marijuana for powerful and addictive opioids. 

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