Social and Behavioral Sciences Commons^™

Three Essays On Financial Economics, Megersa Daksa

Dissertations

This study presents three essays on financial economics. In the first essay, we examine how monetary policy shocks affect risk aversion and uncertainty, as well as how risk aversion and uncertainty spread across financial markets. Although a recent study shows that monetary policy influences risk aversion and uncertainty in global stock markets, there are no studies on risk aversion and uncertainty spillover across stock, currency, and commodity markets. Following the method of Bekaert et al. (2013), we decompose the implied volatility indexes (VIX's) for the SP500, U.S. exchange rate, gold and crude oil into risk aversion and uncertainty. The decomposition …

Three Essays In The Economics Of Education, Md Ohiul Islam

Dissertations

This dissertation explores three distinct topics in the economics of education. These topics explore the relationship between factors such as race, gender, national origin, and educational and labor market outcomes. Educational attainment in the STEM (Science, Technology, Engineering, and Mathematics) areas receives a major focus in this dissertation; a college-level specialization in STEM areas generally leads to high incomeyielding career tracks. Below I briefly explain the research objectives and findings of each chapter.

The first chapter focuses on the impact of teacher-student demographic mismatch on student success in classrooms at the high school level. When students, particularly those of disadvantaged …

Essays On Bitcoin And Cryptocurrencies, Jiasong Wu

Dissertations

Bitcoin and cryptocurrencies, invented as potential digital international currencies, have gradually drawn more and more attention since their birth. The growing popularity of cryptocurrencies in the past decade and the recent acceptance of Bitcoin as legal tender in El Salvador suggests that there is growing acceptance of these instruments and that cryptocurrencies are here to stay. Among these cryptocurrencies, Bitcoin has a unique place being the first and most well-known cryptocurrency in terms of price, market capitalization, and trading volume.

The first two essays of this dissertation focus on Bitcoin and the third essay focuses on the cryptocurrency market in …

The Effects Of Cost, Level Of Safety, And Severity Of Injury On Manager Decisions To Implement A Safety Solution, Jonathan M. Hochmuth

Dissertations

Workplace injuries continue to be a source of substantial human and financial costs each year. Behavioral safety processes have been effective in reducing workplace injuries by increasing safety-related behaviors. In recent years, the focus in behavioral safety has shifted towards the role of managers in establishing and maintaining safe behaviors and conditions in the workplace. Understanding how managers make decisions to allocate resources is critical to improving safety. The field of behavioral economics has developed methods for studying decision-making. While there have been calls to apply these methods to occupational safety, there are only two empirical studies which have done …

Essays On The Impacts Of Extreme Natural Events On Health, Moumita Ghorai

Dissertations

This dissertation comprises three chapters that examine how extreme events impact health outcomes such as short-term illness, body mass index, probability of pre-term birth, and mortality. The study reveals the severe consequences of these events and shows that certain groups within a particular country are affected disproportionately.

The first chapter examines whether National Rural Employment Guarantee Scheme (NREGS), India’s flagship workfare program, mitigates adverse health outcomes of a drought. This paper contributes to a growing area of research on adaptations to climate change. Using Indian Human Development Survey (2004-2005 and 2010-2011), a nationally representative panel data set, and high resolution …

The Asymmetric Effect Of Sentiment On Equity Returns, Mishal Ahmed

Dissertations

In the first chapter titled “The Asymmetric Effect of Sentiment on U.S. Equity Returns”, we test the asymmetric impact of investor sentiment, proxied by the Baker-Wurgler (2007) investor sentiment index, on expected stock returns in the U.S. We regress sentiment on market and economy-wide fundamentals, use the residuals as a measure of excess sentiment and estimate long-horizon return regressions using positive and negative components of excess sentiment as predictors. We hypothesize that excessive optimism leads investors to make significant portfolio changes whereas excessive pessimism makes investors more cautious about investing, due to loss aversion. Primary results confirm our hypothesis with …

Three Essays On Quantitative Easing Policy, Daniel Abraham Mengistu

Dissertations

The main objective of these three essays is to examine the impact of quantitative easing (QE) policies on macroeconomic indicators. The first essay focuses on the cross-border effect of U.S. QE shocks in Latin America, while the second and third essays focus on the effects of Japan’s QE policies on consumer and stock prices. In the first essay, I examine the global impacts of U.S. QE shocks on output and inflation in Latin American countries through trade linkages. It presents a monthly global model that combines individual country vector error-correction models in which domestic (endogenous) variables are related to the …

Three Essays On The Relationship Between Policy Uncertainty And Foreign Direct Investment, Chikezie Kenneth Okoli

Dissertations

Foreign direct investment (FDI) occurs when an entity in one country establishes a significant degree of ownership in an enterprise in another country. FDI is a critical component in ensuring the development of any economy. It often aids with the development of an industry or sector within an economy by bringing in capital, new technologies, manufacturing methodologies, and managing expertise to the receiving country. This dissertation examines the relationship between policy uncertainty and foreign direct investment (FDI) in developed economies.

The first essay focuses on U.S. policy uncertainty and its effects on U.S. FDI inflows, while the second essay focuses …

An Examination Of Types Of Health Insurance And The Reported Prevalence Of Autism In The United States, Jennifer L. Thompson

Dissertations

The prevalence of Autism Spectrum Disorders continues to rise despite barriers of changes to diagnostic criteria and lack of insurance coverage. Increases in prevalence affect costs associated with a disorder since cost of health care services are often estimated based on utilization of services. This can also affect an individual’s ability to access to health care services. To equitably distribute autism services to individuals an accurate estimation of the true prevalence of autism is needed.

Access to health care can be influenced by the type of insurance coverage a person holds. Other factors, such as socio-economic status, ethnicity, location of …

Analysis Of Demand Under Time And Quantity Restriction Frames, Haily K. Traxler

Dissertations

For decades, behavioral economists and behavior analysts have borrowed techniques from one another to investigate human decision making. While there has been little overlap in their work, the union of the two may help to answer important questions about behavior. An emerging behavioral economic topic of interest in the behavior analytic literature is the analysis of how framing affects demand. The purpose of the present studies is to investigate some conditions under which demand is affected by framing and provide a behavior analytic interpretation of those effects. To assess the effects of framing, demand for marketplace items was assessed under …

Applied Microeconomics And Business Intelligence In The Digital Age, Thomas J. Weinandy

Dissertations

The Digital Age is defined by advances in big data, low-cost computing, and modern analytical methods. In three chapters, I apply microeconomic thought to the influence these digital technologies have on business and consumer decision-making.

Chapter One considers how Transportation Network Companies (TNCs) like Uber and Lyft impact the relationship between the quantity of car service trips and fuel prices. I find that a single day 1% increase in fuel prices is associated with a 0.367 to 0.486% decrease in the number of TNC trips and a 0.033 to 0.088% increase in the number of taxi trips, even though the …

Behavioral Economic Modeling Of The Effects Of Symptom, Severity, And Cost On Seeking Medical Care, Mark J. Rzeszutek

Dissertations

While the United States has some of the highest healthcare spending in the world, it has some of the worst health outcomes. For example, maternal mortality in the United States is almost five times as high as in other similarly wealthy countries. It also has the highest rates of avoidable deaths. One of the reasons for this may be the cost of accessing healthcare due to privatized insurance. For example, Americans may avoid important preventive medical visits and other health screeners due to cost. While lack of health insurance has been correlated with decreased health utilization, a precise understanding of …

Three Essays On International Financial And Monetary Interactions, Kemal Burak Bekircan

Dissertations

This dissertation develops three essays on safe haven currency behavior and international monetary interactions.

Essay one notes the dramatic appreciation of the U.S. dollar vis-à-vis all world currencies, along with its reversal after a year on the account of the Great Recession. This paper investigates bilateral U.S. dollar exchange rate movements during and in the aftermath of the Great Recession. I find that increasing global market uncertainty has a significant and consistent effect in strengthening of the U.S. dollar. This striking finding suggests flight-to-safety phenomenon of foreign investors, and repatriation of capital flows to the United States by the U.S. …

Essays On Climate Change-Related Extreme Events, Alvin E. Harris

Dissertations

There are increasing and urgent calls for global economies to join in the fight against the impacts of climate change (World Bank, 2020). With reports such as the World Bank (2020) of climate change costing billions of dollars in losses for economies, the purpose of my dissertation is to examine the effects of climate change-related extreme events and their potential economic effects in three areas: agriculture, migration, and the labor market.

My first essay focuses on the factors that influence farmers’ perception of risk and adaptive strategies against the effects of climate change-related extreme events. I examine whether farmers’ social …

Three Essays In The Dynamics Of Oil Prices, Ahmed Alaabodi

Dissertations

The main objective of my three essays is to study the dynamics and interaction of the price of oil with the downstream sector (refined products), upstream sector (oil production), and across regional markets. I shed light on how the new technological innovation of horizontal drilling and hydraulic fracking that caused the shale oil revolution in the last decade impact the price of oil and impact the petroleum market in the United States.

In the first essay, the dynamic relationship between the monthly price of crude oil and its refined products is modeled. The long-run equilibrium carries valuable information for risk …

Food Insecurity: A Closer Look At How Households Cope With Food Insecurity And How This Phenomenon Affects Their Overall Health, Burak O. Tan

Dissertations

This study focused on the lived experiences of low-income households who coped with food insecurity and explored their worldview on the health impacts of battling with this phenomenon in the Grand Rapids Metropolitan Statistical Area (MSA). While the main research question focused on how low-income households coped with food insecurity, the following were the focus of the research analysis and served as the empirically testable framework: a) addressing the impact of poverty on affordability of nutritious food, b) addressing the impact of food deserts on accessibility and availability of nutritious food, c) addressing the coping strategies used to battle food …

Increasing Odds: The Impact Of Casino Gaming Size, Location, And Economic Stream Style Differences On County Revenue In Pennsylvania, Brandon W. Koch

Dissertations

As county administrators seek new revenue streams, casino gaming becomes a valuable local revenue production mechanism. Recently, Pennsylvania has been vastly successful with developing a conunercial casino market. The American Gaming Association in 2017 found that Pennsylvania has the largest sole commercial casino industry and highest effective tax rate in the United States. The case study of the Pennsylvania gaming industry is utilized to investigate plannable casino born factor impacts on county revenue. State and local regulations dictate the method and location (plannable factors) of permitted casino gaming via quotas and licensure. Casino born factors created as a result of …

Three Essays On Liquidity Shocks And Their Implication For Asset Pricing And Valuation Models, Nardos M. Beyene

Dissertations

The main objective of my three essays is to incorporate liquidity shocks and the linkages between the liquidity condition of financial markets into asset pricing and valuation models. The first essay focuses on the liquidity adjusted capital asset pricing model, while the second and the third essays examine the popular asset valuation model called the Fed model.

The first essay investigates the pricing of the commonality risk in the U.S. stock market by using a more comprehensive market illiquidity measure that can reflect the liquidity condition of different asset markets. This measure is given by the yield difference between commercial …

Three Essays On Food Insecurity In Nigeria, Pimam Manzi Pidalatan

Dissertations

Households experience multiple shocks, among which health-related and agricultural-related shocks are the most frequent shocks in developing economies. Households’ exposure to shocks contributes more to the risk of being food insecure than a poor resource endowment (Azeem et al., 2016). Moreover, in low-income countries about 3.5 million mothers and children under the age of five die every year because they are undernourished FAO, IFAD, UNICEF, WFP AND WHO 2017). Sub-Sahara Africa is the region with the highest prevalence of undernourished people (22 percent) and stunted children (30 percent) (FAO, IFAD, UNICEF, WFP AND WHO 2017). Three of the seventeen Sustainable …

Analyzing Unemployment, Education-Occupation Mismatch, And Immigrant’S Participation In The Us Labor Market, Riyadh Naeem Arooq Arooq

Dissertations

Analyzing the factors that determine any labor market’s outcomes is important. That is because the results of these analyses can help policy makers to adopt effective labor market policies, and thus achieve the best outcomes of that labor market. In this study, I analyze three important factors: unemployment, education-occupation mismatch, and immigrants’ participation in the US labor market.

First, I analyze the problem of slow decline in the rate of U.S. unemployment after the last recessions. In this chapter, I examine whether the slow movement in U.S. unemployment is due to cyclical or structural factors. I contribute to the literature …

Three Essays On Asset Price Bubbles, Frank Ofori-Acheampong

Dissertations

This dissertation examines various issues associated with asset price bubbles. In the first essay, a Markov regime-switching model with time-varying transition probabilities is developed to identify asset price bubbles in the S&P 500 Index. The model nests two different methodologies; a state-dependent regime-switching model and a Markov regime-switching model. Three bubble regimes are identified; dormant, explosive, and collapsing. Time-varying transition probabilities are specified for each of the nine possible transitions in the Markov regime-switching model. Estimation of the model is done using conditional maximum likelihood with the Hamilton filter. Results show that transition probabilities depend significantly on trading volume and …

The Effect Of Maternal Employment On Family Well-Being, Bezawit Teshome Agiro

Dissertations

This dissertation is composed of three essays on the effect of maternal employment on family well-being using data from Early Childhood Longitudinal Study: Kindergarten Class of 2010-11 (ECLS-K: 2011). In general, the findings from this study suggest that the effect of maternal employment on children’s weight status and cognitive development is not significant, but it is significant on mothers’ overall health and psychological well-being.

The first essay re-examines the effect of maternal employment on child obesity by taking a sample of grade 2 children who had at least one younger sibling from the spring 2013 cohort. The study makes use …

Education And Nutrition Problems In Rural China, Rong Shi

Dissertations

The increasing inequality between rural and urban China has raised many concerns for Chinese scholars. A large gap exists not only in income but in health and education. The rural-urban disparities in health and education may contribute to greater income inequality in the future, thus leading to a vicious cycle. This study explores the factors that contribute to the increasing inequality in health and education between rural and urban China.

Using a randomized controlled trial in Shaanxi province, the first chapter studies the effectiveness of a supplemental meal program in improving students’ development outcomes. This study also compares the impact …

Social Health Insurance And Maternal And Child Health Outcomes In Developing Countries: The Case Of Ghana, Ama Agyeiwaa Abrokwah

Dissertations

About 25% of all maternal deaths occur during pregnancy; 99% of these maternal deaths occur in developing countries and half of these occur in Sub-Saharan Africa (WHO 2015). Two of the eight Millennium Development Goals are to reduce infant mortality and improve maternal and child health outcomes. To improve health outcomes and reduce the financial burden on households, a number of developing countries, including Ghana, Botswana, and Croatia, have introduced social health insurance programs which are heavily subsidized. This dissertation is a collection of three essays evaluating how maternal and child health care-seeking behavior, utilization and outcomes changed as a …

Three Essays On Monetary Policy And Exchange Rate Behavior, Wan Wei

Dissertations

In response to the 2007 financial crisis and recession, the Federal Reserve System (the Fed) implemented conventional monetary policy by lowering the Federal funds rate in order to stimulate the economy. However, the Federal funds rate reached its zero-lower bound in November 2008, which meant that lowering the Federal funds rate was no longer an option, because it could not be lowered any further. As a result, the Fed began to implement unconventional monetary policy, by making large-scale asset purchases (LSAPs) usually referred to as quantitative easing (QE). This dissertation studies how monetary policy in the context of the move …

Networked: An Investigation Into The Economic Contribution Of Manuel Castells, Darrick Brake

Dissertations

The central focus of this dissertation is contemporary network theory as discussed by Manuel Castells with an emphasis on his theoretical discussion on economic theory. This research centers on critically evaluating the works of Manuel Castells and discuss how his ideas on the theory of networks and the “network society” in relation to changes in the economic structure and information capitalism have made significant contributions to not only information society theory but also economic and sociological theory. This research was done as a two-part process in which there is a comparative analysis of the unique and underlying contributions contained within …

Examining International Stock Market Integration: Effects On Portfolio Statistical Moments, Changes To Systematic Risk Significance, And Investor Purchasing Of Foreign Equities, Justin Kingsley Hanig

Dissertations

The internet provides individuals with the ability to find instantaneous information on nearly every corner of the earth. Increasing correlations of international stock markets suggests investors may use information from different parts of the world to assess the value of the assets they hold in their portfolios. This dissertation examines changes in international stock market behavior to identify the effects of international market integration across a time. More specifically, this dissertation studies the effects of integration on the ability of diversification to reduce risk and skewness of portfolios, how global-wide risks significantly impact country-level index returns, and the equity purchasing …

Three Essays On Financial Constraints And Foreign Direct Investment, Todd Sarnstrom Ii

Dissertations

This three–essay dissertation makes contributions to the literature on foreign direct investment (FDI) and its relationship with collateral and the exchange rate. FDI refers to an investment made by a firm to establish or acquire a long–lasting interest in another firm operating outside its home country. Often, FDI involves substantial fixed costs that require the investing firm to seek external financing. Collateral has been identified as an important factor in the external financing of FDI. Firms lacking collateral are constrained in their ability obtain external financing. Exchange rates have also been identified as a factor in FDI. Exchange rate movements …

Three Essays Assessing Global Value Chain Fragmentation On International Trade Using The World Input-Output Database, Johanna Retana Attoh

Dissertations

The growing fragmentation of supply chains across countries have changed the way nations engage in international trade. Conventionally, studies have used data on exports to measure trade flows; however, the use of this type of data imposes many assumptions that might misrepresent the real world. For instance, the assumption that the supply chain of a product is confined in only the domestic country does not take into consideration the increasing number of foreign inputs needed to produce a final good. In this dissertation, I use the World Input-Output Database (WIOD), since this dataset allows one to track and decompose the …

Three Essays On Informal Payments In The Health Care Sector In Russia, Alexandra Polovinka

Dissertations

Health care is one of the most corrupt sectors in Russia. In 2015 twenty percent of patients paid a bribe for the health care services once or twice, and thirteen percent more than twice (Russian Public Opinion Research Center, 2015). Using data on adults from over 5,000 households in Russia, this three-essay study analyzes out-of-pocket formal (official) and informal (unofficial, bribes) payments for the health care.

In the first essay, I study whether there is a difference in the amount of unofficial pay-ments across five types of health care services (ambulance, inpatient, outpatient, dental, and medical checkups) and two types …