Economics Commons^™

'Reciprocal' Tariffs: What's In A Word, Petros C. Mavroidis

Faculty Scholarship

On 13 February 2025, President Trump released a memorandum announcing his intention to impose “reciprocal tariffs” under the Fair and Reciprocal Plan (FRP). The plan does not operate under a reasonable definition of reciprocity, is illegal under World Trade Organisation (WTO) law, would damage both the United States and its trading partners and could trigger reactions that would bring an end to the international trading system as we know it.

Quantifying Educational Impacts Under The Nypd's Stop-And-Frisk Era, Matthew T. Stanton

Dissertations, Theses, and Capstone Projects

This project examines the educational and economic impacts of the New York Police Department's "Stop, Question, and Frisk" (SQF) program, implemented predominantly under "Operation Impact" from 2003 to 2022. Using data from the NYPD and the American Community Survey, the study explores correlations between high rates of stop-and-frisk encounters and reduced educational attainment among targeted demographics, primarily Black and Hispanic young men. It contextualizes the socioeconomic consequences of SQF policies, including their effect on lifetime earnings and community trust. The project highlights the limitations of data correlation, advocates for further longitudinal and qualitative studies, and suggests frameworks for mitigating inequities …

The Healing Power Of Antitrust, Theodosia Stavroulaki

Northwestern University Law Review

Millions of Americans live in hospital deserts—communities where people lack geographic access to hospitals and primary care physicians. People living in these deserts often miss doctor appointments, delay necessary care, and stop adhering to their treatment. In this way, hospital deserts exacerbate the health disparities plaguing America. This Article demonstrates that hospital deserts are not inevitable but the result of several business strategies—including noncompete agreements and merging with competitors—and antitrust enforcers’ unwillingness to recognize these harmful practices as antitrust violations. To cure the issue of hospital deserts, this Article makes three proposals. First, antitrust enforcers and the courts should expand …

A Proposal For One “Super” Independent Accountability Mechanism, Daniel D. Bradlow

Perspectives

This essay will discuss how the MDBs- for example, the World Bank Group, the African, Asian, and Inter-American Development Banks, and more recently the European Bank for Reconstruction and Development, Asian Infrastructure Investment Bank, and the New Development Bank – are dealing with the issue of accountability. It will argue that, although the MDBs have been leaders in promoting international organizational accountability, their mechanisms of accountability are not keeping up with the evolution in their operations. In the interests of promoting new and creative thinking about these issues, it will also make an ambitious proposal for how the MDBs jointly …

Introducing Justice And Rights To Students Of Economics, Mark D. White

Publications and Research

Most economics instruction is focused on outcomes, whether evaluated in terms of individual or collective welfare or well-being. This is consistent with economics’ roots in classical utilitarianism, and no consideration is usually given to the process by which these results obtain, which is a deontological concern of right and wrong. This can seem odd to economics students, especially in the context of trade-offs in which one party is benefited at the expense of another, or aggregate welfare is maximized while some individuals are harmed, with no consideration in either of rights, desert, or justice. This chapter argues for the importance …

The Causes And Impact Of Evictions In Southern Nevada, Mohit Pande

Student Research

As the Southern Nevada region continues to quickly grow, evictions have become a structural feature of the region’s rental market. The region has one of the highest eviction filing rates in the country and this trend has continued to increase in the wake of the Covid-19 pandemic. This paper examines the availability of market-rate affordable housing and the expansion of subsidized affordable housing to understand how the local housing conditions contribute to the number of evictions in Southern Nevada. Additionally, the paper studies local legal processes, such as the summary eviction system and habitability procedures, to understand the relationship between …

Redefining The Relevant Market: Abandonment Or Return To Brown Shoe, Daniel A. Hanley

Dickinson Law Review (2017-Present)

Defining a relevant market is arguably the most important requirement in antitrust litigation. Between the 1890s and the 1940s, defining a relevant market was a simple and generalized process, typically undertaken by courts as a cursory matter. However, in the 1960s, defining relevant markets became a centerpiece of antitrust litigation. The modern method originates from the Supreme Court’s landmark 1962 decision in Brown Shoe v. United States. The method commonly known as the Brown Shoe test requires judges to construct relevant markets by carefully analyzing accessible and understandable qualitative data, such as internal corporate documents and consumer surveys. Since the …

A Geopolitical Economy Analysis Of China And India’S Approaches To Transnational Data Governance, Yujia He, Ka Zeng

Patterson School of Diplomacy and International Commerce Faculty Publications

Recent literature on the behavior of rising powers in digital trade and data governance highlights their discourses of data sovereignty and desire to preserve domestic policy autonomy. This article contributes to the literature by employing a political economy lens that shifts the focus from the nation-state/inter-state framework towards the dynamics of state–capital relations, allowing for a more historical and contextual understanding of the geopolitics of data governance in emerging economies. Using China and India—two of the largest emerging economies—as comparative cases, and drawing on secondary data from government documents and other sources, the article argues that the interplay between the …

Fiscal Citizenship And Taxpayer Privacy, Alex Zhang

Faculty Articles

Should individual tax data be public or confidential? Within the United States, secrecy has been the rule since the Tax Reform Act of 1976. But at three critical junctures—the Civil War, the 1920s, and the 1930s—Congress made individual tax records open for public inspection, and newspapers published the incomes of the billionaires of the time. Today, Finland, Norway, and Sweden all mandate significant transparency for individual tax information.

This Essay intervenes in the tax-confidentiality debate by building a new analytical framework of fiscal citizenship. Until now, scholars have focused on compliance—whether disclosure incentivizes honest reporting of income, and if it …

The Effects Of Chronic Absenteeism On Average Daily Attendance Funding In Humboldt County Elementary Schools, Corabelle A. Esmailian

Cal Poly Humboldt theses and projects

Chronic absenteeism is linked to poor academic performance and lower social-emotional skills, both of which can have long-term effects on students and their communities. The California Department of Education uses average daily attendance (ADA) to determine most of the funding that public schools receive. When a student is absent, their school loses a portion of potential funding for that day. This study explores chronic absenteeism’s impact on the funding of Humboldt County’s elementary schools with a sequential exploratory research strategy and critical systems lens. Interviews with elementary administrators were conducted using a phenomenological approach to understand how this affects their …

Too Essential To Fail: Lessons From County Fiscal Crises, Michael A. Francus

Journal Articles

This Article draws out the lessons of counties for municipal finance. To do so, the Article begins by unpacking the municipal finance regulations that have provided counties with extraordinary fiscal safety. The Article then turns to case studies of the eleven counties that either filed for bankruptcy or had state fiscal interventions since the passage of the Bankruptcy Code in 1978. Those case studies show how counties' finances can (in rare cases) go wrong despite well-designed municipal finance regulations. The case studies also show how counties have successfully responded to those crises through bankruptcy and fiscal intervention.

Using that analysis, …

The Rise Of China: Economic Expansion, Military Modification And The Belt And Road Initiative, Felix Padilla

Dissertations and Theses

In order to analyze China’s rise in power, we have to examine how China has achieved this growth. We need to observe their domestic reforms, international initiatives like the Belt and Road Initiative (BRI), and strategic military advancements. This thesis focuses on China’s economic integration, market reforms and military modernization. The thesis uncovers the effects of this rise on global governance and power balances, especially in trade, security, and geopolitics. I analyze China's vision of a multipolar world and how it contrasts with the current global order and how this fuels rivalry with the U.S. and other powers. China's rise …

The Role Of Economic Sanctions In Shaping International Trade Relationships Case Study: Russia, Chick Edmond

Political Science & Geography Faculty Publications

Economic sanctions play an influential role in international relations by shaping the behavior of states. To address security threats and uphold international norms, countries seek to punish those responsible in violating these principles through the use of economic sanctions. The paper examines the impact of economic sanctions on trade relationships and its consequences on the Russian Economy. It also seeks to analyze the evolution of trade embargo during the post-cold war era to a more resilient and sophisticated measures in the age of globalization. Through this historical perspective, this analysis examines an important case study such as Russia by evaluating …

Are Csr Incidents Truly Bad News?, Chen Chen, John A. Doukas, Rongyao Gloria Zhang

Finance Faculty Publications

We revisit whether disclosures of negative Corporate Social Responsibility (CSR) incidents adversely affect firms' stock prices. While univariate tests reveal significant negative abnormal returns around incident announcements, the effect disappears once firm characteristics, industry, and time‐fixed effects are controlled for. We find no robust evidence that CSR incidents or firms' Environmental, Social, and Governance (ESG) commitments influence stock price reactions on the event day or across broader windows. These results suggest that previously documented negative market responses may be attributable to endogeneity. Our baseline results are consistent with informed trading behavior: short‐sellers do not increase activity in incident‐related stocks relative …

Forging Monetary Hawks: Early-Life Inflation Experiences And Government Debt In Africa, Christine Strong

Economics Faculty Publications

This study uses a novel dataset to examine the impact of early‐life inflation experiences on government debt across 30 African nations from 1980 to 2022. We propose that central bankers who encountered inflation crises during their formative years are more likely to develop preferences for hawkish monetary policies. However, for these preferences to influence fiscal outcomes, central bankers must operate within an environment of institutional independence. Indeed, our analysis reveals that past exposures to inflation crises, on their own, have no statistically significant impact on government debt. However, when central bank independence is accounted for, a significant negative relationship emerges, …

Overcoming Obstacles To Equitable Energy Transitions And Promoting Energy Sovereignty For Us Tribal Nations, Don Lee

Dissertations, Master's Theses and Master's Reports

This dissertation explores the potential of equitable energy transitions guided by the tenets of energy justice with a focus on Tribal energy sovereignty through renewable energy development. It contributes to the literature on the social acceptance of energy systems, public perceptions of renewable energy transitions, the ramifications of US federal Tribal law on Tribal energy development and sovereignty, and the implications of conforming to capitalist logics in the energy justice literature.

To understand the importance of building reciprocal and collaborative relationships, our team of researchers and Tribal members collaborated on the development of a methodology to survey respondents in a …

Three Essays On Sustainability Economics, Hélène Flore Nguemgaing

Graduate Theses, Dissertations, and Problem Reports (ETD)

As global economies face increasing resource dependencies and supply chain challenges, it becomes essential to understand the vulnerabilities that threaten economic stability. This dissertation investigates three empirical issues in agribusiness and critical minerals using econometric models to estimate the following: 1) the impact of supply chain disruptions on stock market returns during COVID-19; 2) the extraction of rare earth elements from acid mine drainage treatment by investigating the impacts of ownership and legislation in West Virginia and Pennsylvania; 3) China-to�FOBb (Free-on-Board) price transmission in rare earth elements markets: a copula-based dynamic tail dependence analysis.

The first essay evaluates how events …

The Savings Mirage, Sara Sternberg Greene

Faculty Scholarship

In the past, we did not worry much about elderly poverty because retirement was short for most Americans – a brief jaunt of post-work life was soon met with death. But with the 100-year life becoming a reality for more Americans, an elderly poverty crisis looms. The American dream of abundant retirement savings remains elusive for many, particularly low-wage workers. While government initiatives emphasize individual responsibility and financial education as a way toward retirement success, the reality is that governmental policies are barriers, including asset limitations that prevent those who receive public benefits from saving. This chapter urges reform in …

Measuring Income And Income Inequality, Conor Clarke, Wojciech Kopczuk

Scholarship@WashULaw

Income inequality is important, but attempts to measure it arrive at strikingly different conclusions. Why? We use recent disputes over measuring United States income inequality to return to first principles about both the income concept and inequality measurement. We emphasize two broad points. First, no measure of the income distribution is truly comprehensive, or could attempt to be comprehensive without making controversial choices. We document the practical and conceptual problems that the standard ideal—comprehensive Haig-Simons income—raises. Second, much of the controversy in this area turns on the many tradeoffs between starting with individual tax data versus more expansive income concepts. …

Lessons Learned: Karl-Philipp Wojick, Maryann Haggerty

Journal of Financial Crises

Karl-Philipp Wojcik is the general counsel of the European Union’s Single Resolution Board (SRB), the central resolution authority within the European Commission (EC) banking union. The banking union, which as of January 1, 2023, encompasses the 20 eurozone countries, along with Bulgaria, was established as part of the financial system reforms stemming from the Global Financial Crisis and the ensuing European sovereign debt crisis. The SRB’s stated mission is to ensure orderly resolution of failing banks, protect taxpayers from state bailouts, and promote financial stability. Wojcik became SRB general counsel in November 2020. Previously, he was a member of the …

Lessons Learned: Subba Rao Duvvuri, Salil Gupta

Journal of Financial Crises

Subba Rao Duvvuri served as governor of the Reserve Bank of India (RBI) for five years (2008–13). Before that, he was finance secretary to the government of India (2007–08), and secretary to the prime minister’s Economic Advisory Council (2005–07). With a career spanning 35 years in the Indian Administrative Services, Duvvuri has held various positions at the state level in the government of Andhra Pradesh, and at the central government of India. Duvvuri was previously lead economist at the World Bank (1999–2004) and, after 2013, served as a visiting fellow at the National University of Singapore and the University of …

Lessons Learned: Calvin Mitchell Iii, Mercedes Cardona

Journal of Financial Crises

Calvin Mitchell III served as executive vice president of the communications group within the executive office of the Federal Reserve Bank of New York (FRBNY) during the Global Financial Crisis. In 2008, Mitchell was tapped by Timothy Geithner, who was then FRBNY president, to head a new group charged with expanding the communications and community affairs functions. Mitchell left the FRBNY in 2009 for the private sector and returned to government in 2021 as assistant secretary for public affairs in the US Treasury Department.

International Monetary Fund: Special Drawing Rights Allocations, 2009, Ikbal S. Ahluwalia, Owen Heaphy, Rosalind Z. Wiggins

Journal of Financial Crises

Despite efforts by the world’s major economies to address stresses in the global financial system, by early 2009, the Global Financial Crisis caused developing and lower-income countries to experience shortages of the major reserve currencies. In August 2009, the International Monetary Fund (IMF) distributed a general allocation of Special Drawing Rights (SDR) of unprecedented size—totaling USD 250 billion (SDR 161.3 billion)—to all member countries in an effort to address these issues and provide liquidity to the world’s economies. In September 2009, it also distributed a special “catch-up” allocation of USD 33 billion in SDRs (SDR 21.5 billion) to eligible members …

Lessons Learned: Jason Cave, Vincient Arnold, Greg Feldberg

Journal of Financial Crises

Jason Cave was the senior adviser to the chairman of the Federal Deposit Insurance Corporation (FDIC) from 2008 to 2011 and the deputy director of the Division of Complex Financial Institutions at the FDIC from 2011 to 2013. This Lessons Learned summary is based on an interview with Cave held on April 8, 2024. During the interview, Cave discussed the so-called ring-fencing arrangements planned, considered, or executed between various agencies of the US government—the Federal Reserve, Department of the Treasury, and FDIC—and three banks: Wachovia, Citigroup, and Bank of America. These arrangements, sometimes referred to as wraps or risk shields, …

International Monetary Fund: Short-Term Liquidity Line, 2020, Carey K. Mott, Léo Brougher

Journal of Financial Crises

As the COVID-19 pandemic spread in March 2020, global financial conditions tightened considerably. In response, global reserve currency-issuing countries extended bilateral swap lines to select countries. Strong demand for US dollar liquidity among emerging markets led the International Monetary Fund (IMF) to introduce the Short-Term Liquidity Line (SLL) on April 15, 2020. The SLL functioned as a swap lending facility. Unlike other IMF liquidity tools, the SLL was a revolving credit line that allowed countries to repeatedly draw funds and make repayments, with each repayment restoring access up to the approved limit across SLL arrangements. Its purpose was to enable …

International Monetary Fund: Foreign Exchange Liquidity Through The Special Drawing Rights Allocation, 2021, Vincient Arnold

Journal of Financial Crises

The official response to the COVID-19 pandemic was costly for governments, particularly those in developing economies with significant existing external debt. On August 2, 2021, the International Monetary Fund (IMF) announced in a press release the allocation of SDR 456 billion (USD 650 billion) in Special Drawing Rights (SDRs) to “address the long-term global need for reserves, build confidence, and foster the resilience and stability of the global economy.” The COVID-19 allocation was a form of unconditional (or “concessional”) liquidity to IMF member nations, similar to a capital injection or grant. It was the fourth-ever general allocation and the largest …

Protection Of Trade Secrets In Global Markets And International Business: Implications For Labor Relations, Oleg M. Yaroshenko, Oleksii Tykhonovych, Yaroslav Kostohryz, Yuliia Ivchuk, Dmytro Sirokha

Markets, Globalization & Development Review

Against the background of globalization and the constant evolution of economic relations, the protection of trade secrets in labor relations becomes a necessity to ensure the sustainable competitiveness of enterprises in the international market. This article analyzes the multifaceted dimensions of trade secret protection, covering global business strategies, intercultural labor practices, international economic relations, and public policy fundamentals. Through the analysis of international agreements such as the TRIPS Agreement and the European Union Directive on Non-Competition Provisions, the article explores how various legal systems address trade secrets in labor relations, emphasizing the need for global harmonization. It also considers cultural …

Institutions Matter: How So?, Alper Duman

Markets, Globalization & Development Review

This paper examines the influential theory of Daron Acemoglu, Simon Johnson, and James Robinson (AJR) on the role of institutions in economic development, highlighting its strengths, limitations, and areas for further research. A central contribution of their work is the emphasis on power and conflict in institutional formation and change.

The theory's focus on the interplay between inequality, political power, and institutional change provides a valuable framework for understanding development trajectories. This paper also considers critiques of AJR's work, including the lack of robustness of the positive correlation between inclusive institutions and economic performance in lower-income countries and the significant …

Stakeholder Fairness And Corporate Social Impact: The Behavioral Economic Structure Of Corporate Law, Eli Bukspan

Michigan Business & Entrepreneurial Law Review

This study aims to bridge the gap between stakeholder capitalism—manifesting today in the evolving corporate social impact paradigm—and the historical shareholder primacy of corporate law. The emerging view of corporate purpose, particularly stakeholder capitalism, is closely related to the notion of fairness. This article demonstrates—by looking mainly at Israeli corporate law—that certain foundational concepts of behavioral economics better describe and justify the recent prominence of stakeholderism and the rejuvenated discourse of corporate social impact and purpose than does neoclassical economic theory. It concludes that the “fairness principle” provides a strong rationale for assimilating stakeholder expectations into the DNA of modern …

An Empire Of Anti-Democracy: The Imperial Legacies Of American Territorial Labor, Jedidiah J. Kroncke

Washington Law Review

A great deal of recent attention has been given to acknowledging the full historical scope of American empire and its legal foundations. A recurrent focus of this attention has been the impact of the Insular Cases—a set of early twentieth century doctrines that legitimate American territorial acquisitions while denying their full incorporation under the United States Constitution. Issues of political citizenship and property have thus predominated critical work on the Insular Cases.

This Article expands on this resurgent interest by focusing on another critical element of this acknowledgment: the history of territorial labor which has long been central …