Economics Commons^™

Razing Lafitte: Defending Public Housing From A Hostile State, Leigh Graham

Publications and Research

The contentious politics of the demolition of Lafitte public housing in post- Katrina New Orleans and its replacement with mixed-income properties is a telling case of the strategic conflicts housing advocates face in public housing revitalization. It reveals how the qualified outcomes of HOPE VI interact with local institutional and historical circumstances to confound the equity and social justice goals of housing and community development advocates. It shows the limits to public housing revitalization as an urban recovery strategy when hostile government leadership characterizes a region, and the state is recast as an adversary rather than revitalization partner. This case …

Why Oil Production Has A Negative Impact On Socioeconomic Development In Chad?, Annicette Kessely

Dissertations and Theses

"Oil production in Chad is considered one of the most important Sub-Saharan investments in Africa. In 2000, the World Bank agreed to finance oil production under the condition that oil revenues would be invested in socioeconomic development projects. Furthermore, the World Bank emphasized that oil revenues should be used in a transparent and accountable matter.1 Oil production started in Chad in 2003 and brought billions of dollars to the government. Nevertheless, the Chadian population continues to live in extreme poverty. The purpose of this paper is to evaluate the impact of oil production on socioeconomic development. It will demonstrate that …

Economic Growth And Energy Consumption In Oecd Countries; A Causality Analysis, Daria Kostyannikova

Dissertations and Theses

No abstract provided.

The Effects Of High Skilled Non-Immigrants (H-1b Visa Holders) On The Wages Of Natives, Onur Arslan

Dissertations and Theses

No abstract provided.

The Impact Of Internet On Economic Growth In Bangladesh, Mohammed Meah

Dissertations and Theses

"The purpose of this paper is two fold. The first goal is to reveal that an increase in the number of Internet users has a positive effect on economic growth within a nation. Based on this causality, the next objective is to demonstrate that less developed countries, specifically Bangladesh is in the best position to increase investment in the Internet to experience economic growth. Finally, the implications of Internet penetration on various economic sectors in Bangladesh are discussed. Panel data for 244 countries from the World Bank from 1990-2011 is used to carry out the experiment for the first goal. …

Towards A Metatheory Of Budgeting, Dan Williams, Thad D. Calabrese

Publications and Research

In this paper. we suggest that many budget theories actually are about appropriating and not about budgeting. We trace this development back to the classic budgeting question posed by V.O. Keys in 1940. To clarify the issue, we examine early normative theories of budgeting, and apply many contemporary theories about budgeting to the budgeting process advocated for in this early work. By analyzing current theories, we show that budget theories are, in many cases, simply focused on parts of the budget process or on the role of techniques in decision making. Our analyses suggest that rather than theories competing with …

Who Enters The Foreclosure Process?, Eric Doviak, Sean P. Macdonald

Publications and Research

Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be filed with the New York State Banking Department (NYSBD). The data enables us to identify the financial characteristics that make a defaulted borrower more (or less) likely to enter the foreclosure process. Our analysis of the NYSBD data suggests that borrowers in default who took larger loans are more likely to progress to foreclosure. It also suggests that reducing principal balances may reduce the foreclosure rate, but might have an adverse effect on the mortgage industry. Given the frequent criticism of the …

Fathers' Time Investments In Children: Do Sons Get More?, Kristin Mammen

Publications and Research

Evidence suggests that, from birth, fathers treat sons differently than daughters in the U.S., as well as in developing countries. Fathers' time investments in children are one channel through which differential treatment by gender may affect children's outcomes. This paper uses data from the 2003 American Time Use Survey to explore three questions about paternal time in married two-parent families: Does the gender composition of his children affect the amount of time a father spends with them? If so, does the gender of the individual child have an additional effect? And is a girl advantaged or disadvantaged by the presence …

Weight-Related Behavior Among Adolescents: The Role Of Peer Effects, Mir M. Ali, Aliaksandr Amialchuk, Frank W. Heiland

Publications and Research

Purpose To investigate whether social interactions in friendship networks influence the following weight-related behaviors of adolescents: exercising regularly, playing an active sport, hours of TV/Video viewing, sleeping six or fewer hours, eating breakfast on weekdays, frequency of eating at fast food restaurants, eating five servings of fruits/vegetables daily, and consuming calorie-dense snacks.

Method Data from a nationally representative sample of adolescents are used to examine the association between peer and individual weight-related behaviors. Evidence from multivariate regression analysis controlling for an extensive list of individual- and family-level factors as well as school-level unobserved heterogeneity is obtained. Results We find a …

Essays On Foreign Direct Investment, Trade And Development, Jing Sun

Dissertations, Theses, and Capstone Projects

Essay 1: Most of studies on developing countries have found evidence that international linkages, such as foreign ownership, exporting, or importing, affect productivity growth, but since these variables are correlated, it is hard to distinguish among their effects. This paper tackles this issue by explicitly investigating and comparing the productivity effects of all three international linkages at plant levels in case of Indonesian manufacturing plants during 1993-2001. Overall, the paper finds that foreign ownership, first, and importing, second, but exporting doubtfully, promoted productivity growth. Productivity jumps in the year when plants are acquired by foreigners or when plants first start …

Six Titans Of The Cambridge School: A Review Article, Harvey Gram

Publications and Research

Six volumes in the Great Thinker in Economics Series were chosen by the Editors for this review, which focuses on The Cambridge School of Economics, so very different from the mainstream theory of general economic equilibrium which gives formal expression to Lionel Robbins’ famous definition of the subject as the allocation of scarce means among alternative uses. In recognition of a distinct Cambridge School, the authors of these volumes present a variety of arguments within which three overlapping themes can be discerned: the relationship between ethics and economics; the role of stocks and flows in economic analysis; and the epistemic …

Demand For Cigarettes By Teenagers And Young Adults And Their Smoking Transitions, Ce Shang

Dissertations, Theses, and Capstone Projects

This paper provides the first comprehensive analysis of the effects of cigarette prices, cigarette excise taxes, smoke-free air laws, youth access laws, state spending on comprehensive tobacco control programs, socio-economic factors, and demographic characteristics on measures of demand for smoking, especially light and intermittent smoking by teenagers and young adults in a long panel. I employ the panel to estimate demand for cigarette smoking by young people and the determinants of transitions from light or intermittent smoking to heavy or regular smoking in the following years. Finally, I estimate transitions in the opposite direction: from regular or heavy smoking to …

Governance And Merger Activity In Banking, Thomas J. Piskula

Dissertations, Theses, and Capstone Projects

One method of evaluating the success of management decisions regarding acquisitions is to examine equity price movements as the news of the merger is made public. The price movement of the acquiring firm's equity around the announcement of the acquisition indicates if shareholders believe management has acted in their interest. In the banking industry, researchers have found that on average equity values of the acquiring bank do not display abnormal positive returns upon announcement, and often display statistically significant negative returns. Another line of research has documented that CEOs are better compensated for managing larger organizations, particularly when involved in …

A R&D Based Real Business Cycle Model, Ka Wai Terence Fung

Dissertations, Theses, and Capstone Projects

The New Keynesian Real Business Cycle model with staggered price adjustment is augmented with a R&D producing sector. Two sources of economic shocks are separately considered, namely random participation (perturbances to value of alternative investment opportunities in another sector) and financial intermediation (shocks to the cost of raising capital in the financial intermediation market). We find that, when comparing to the baseline model, both random participation and financial intermediation models can explain pro-cyclical R&D spending. Additionally the investment oversensitivity problem is corrected. However, only the financial intermediation model is consistent with the observed finding that the volatility of R&D is …

Nafta, Cafta And The Environment: The Role Of Institutions, Sherrie Baver

Publications and Research

This essay examines the institutionalization of environmental concerns, primarily focusing on NAFTA, and argues that the 1994 agreement should be seen as a positive first attempt to raise the profile of environmental concerns within discussions of expanding global trade. More specifically, NAFTA and subsequent U.S. FTAs have contributed to the growth of procedural environmental rights that have the potential to deepen democracy in the wider political system. Given that free trade agreements represent the U.S. approach to world trade at present, this paper takes the practical position that building on NAFTA’s foundation, opportunities exist to continue promoting environmental sustainability within …

Smoking, Drinking, And Binge Drinking: An Empirical Study Of The Role Of Price On Consumption By High School Seniors, Jorge L. Medina

Dissertations, Theses, and Capstone Projects

In this study, I estimate time-series demand functions using Ordinary Least Squares in order to examine the effects of real cigarette and alcohol prices on their respective consumption. My targeted population is high school seniors in the United States. The data I use come from Monitoring the Future, The Tax Burden on Tobacco, and the Bureau of Labor Statistics. Using the Ordinary Least Squares real price coefficients, I evaluate how much of the observed change in consumption is explained by the observed change in real price during a particular period of time between 1976 and 2008. Then, I repeat the …

Forecasting The New York State Economy With “Terraced” Vars And Coincident Indices, Eric Doviak, Sean P. Macdonald

Publications and Research

This paper introduces “Terraced” Vector Autoregressive (VAR) models, an innovative twist on traditional VAR modeling, which allows the econometrician to simultaneously forecast both exogenous and endogenous variables and the confidence intervals around those forecasts. In an application of our Terraced VAR framework, we have estimated coincident indices of economic activity for the United States, New York State and the six largest metropolitan areas of New York State and incorporated them into Terraced VARs, which forecast the unemployment rate, total non-farm employment, real wages and average hours worked in manufacturing in those regions.

Negative Effects Of Paternal Age On Children's Neurocognitive Outcomes Can Be Explained By Maternal Education And Number Of Siblings, Ryan D. Edwards, Jennifer Roff

Publications and Research

Background Recent findings suggest advanced paternal age may be associated with impaired child outcomes, in particular, neurocognitive skills. Such patterns are worrisome given relatively universal trends in advanced countries toward delayed nuptiality and fertility. But nature and nurture are both important for child outcomes, and it is important to control for both when drawing inferences about either pathway.

Methods and Findings We examined cross-sectional patterns in six developmental outcome measures among children in the U.S. Collaborative Perinatal Project (n=31,346). Many of these outcomes at 8 mo, 4 y, and 7 y of age (Bayley scales, Stanford Binet Intelligence Scale, Graham-Ernhart …

Labor Force And Economic Changes In Cuba, Pavel Vidal Alejandro, Omar Everleny Perez Villanueva, Mario A. Gonzalez-Corzo

Publications and Research

In November 2010, the Cuban government published a 32-page document called “Lineamientos De La Política Económica y Social” [“Guidelines of Economic and Social Policies], which outlines the economic transformations approved in the Sixth Communist Party Congress last April 2011. The guidelines presented in this document expand the economic changes initiated by Raúl Castro in 2008. One of the major changes that already began is the transfer of State workers to the (emerging) private sector. This is the most transformative labor oriented economic adjustment implemented in Cuba so far and is a clear indicator of Cuba’s movement towards a …

Three Essays On The Determinants Of Foreign Direct Investment (Fdi), Haitao Liang

Dissertations, Theses, and Capstone Projects

At first, a literature review of over 150 articles on the determination of Foreign Direct Investment (FDI) proposes the main determinants of FDI. A meta-analysis tests the reliability of the previous studies on FDI.

Then, a cluster analysis on FDI data reveals the necessary to segment economies, especially by income level, in FDI analysis.

A large number of studies emphasize FDI determinants but ignore the income distribution on the results, which biases the estimates. In Chapter 3, I correct for heterogeneity due to income distribution by using the Blundell-Bond System GMM (Generalized Method of Moments), which controls for endogeneity problem …

Essays In Corporate Finance, Milos Vulanovic

Dissertations, Theses, and Capstone Projects

This dissertation consists of two essays on corporate finance. In the first essay we test the pecking order theory by examining how firms finance maturing long-term debt. This allows us to accomplish three goals: resolve the issues of debt capacity and the endogeneity of financing deficit; examine the role of internal financing; and generate evidence regarding the order in which different sources of financing are used. We determine that firms use internal funds before they issue new debt to refinance maturing long-term debt. Firms with more cash on hand are less likely to issue new debt to refinance. On average, …

Essays On Economic Policy: Income Inequality And Health Insurance, Eric Doviak

Dissertations, Theses, and Capstone Projects

This dissertation contains economic analyses of two critical social issues facing the United States at the dawn of the 21st century: income inequality and the affordability of health insurance.

The chapter on income inequality uses the Solow Model of economic growth to model the evolution of inequality over time. In steady state, differences in household saving rates generate differences in household capital income. Households that save more accumulate more capital and have higher steady-state income. Tax policy affects the distribution of income through its influence on household saving rates. Increasing the tax rate on labor income causes a greater percentage …

Default Risk, Zeynep Topaloglu

Dissertations, Theses, and Capstone Projects

The hazard rate models used in recent bankruptcy literature assume censoring and default are two independent events, which means the censored company will eventually default. However we believe there will be a portion in the censored group that will be long-term survivors and we propose a mixture model of survivors and risky companies. Moreover this dissertation models the event and the timing of default incident at the same time. For the event of default and the timing of default we utilize a logistic regression. The results have justified the advantage of our model over the standard hazard rate models and …

Railroads And Economies Of Scale And Scope In U.S. Manufacturing Industries: 1850-1880. Chandler Revisited, Michael Kalson

Dissertations, Theses, and Capstone Projects

This study concerns the measurement and quantification of the relationship between railroadization in the United States in the mid-19^th century and the subsequent evolution of the modern, large-scale, corporate form of industrial business organization marked by significant economies of scale and scope, as described in various writings by Alfred Chandler. Focusing on American industry as it developed from 1850-1880 using data uniquely suited to empirical analysis of economies of scale and scope, its aim is to determine whether the growth of the American railroad network, as Chandler contended, expanded markets and augmented the American financial sector such that the …

Latino Middle Class Income-Earners In New York City In 2006, Miriam Jiménez

Center for Latin American, Caribbean, and Latino Studies

Introduction: This study examines demographic and socioeconomic factors of racial/ethnic groups in New York City in 2006 – particularly the income rates of the Latino population.

Methods: Data on Latinos and other racial/ethnic groups were obtained from the U.S. Census Bureau American Community Survey, reorganized for public use by the Minnesota Population Center, University of Minnesota, IPUMSusa. Cases in the dataset were weighted and analyzed to produce population estimates.

Results: For this study, the middle class refers to those population sectors that fall between $35,000—$59,999 and $ 60,000—$100,000 in annual personal income. Middle-class income earners account for approximately 25.7% of …

Chasing Fools’ Gold: Whaling In Nineteenth And Twentieth Century Bermuda, Aldemaro Romero Jr.

Publications and Research

No abstract provided.

The Rise Of Private Equity Media Ownership In The United States: A Public Interest Perspective, Matthew Crain

Publications and Research

This article examines the logic, scope, and implications of the influx of private equity takeovers in the United States media sector in the last decade. The strategies and aims of private equity firms are explained in the context of the financial landscape that has allowed them to flourish; their aggressive expansion into media ownership is outlined in detail. Particular attention is paid to the public interest concerns raised by private equity media ownership relating to the frenzied nature of the buyout market, profit maximization strategies, and the heavy debt burdens imposed on acquired firms. The article concludes with discussion of …

Essays On The Impacts Of The Great Moderation On Business Cycle Modeling, Andre R. Neveu

Dissertations, Theses, and Capstone Projects

The research presented here is a comprehensive analysis of research on the "Great Moderation" and its impact on business cycle modeling. In the presence of a less volatile aggregate economy, the methods of modeling business cycles have fundamentally changed along with the ability to detect turning points in the business cycle using standard algorithms. Chapter One lays out the historical case for modeling the business cycle in a manner placing importance on the ability of a model to replicate features observed in actual GDP data, such as the depth and length of recessions, or the average height of expansions. Chapter …

Políticas Y Medidas Para Fomentar Las Remesas Familiares En La República Dominicana: Impacto Económico Y Lecciones Para Cuba, Mario A. Gonzalez-Corzo, Scott Larson

Publications and Research

No abstract provided.

Socio-Economic And Cost Of Living Indicators Among Foreign And Domestic-Born Latino Nationalities In The New York Metropolitan Area, 2005, Howard Caro-López

Center for Latin American, Caribbean, and Latino Studies

Introduction: This report focuses on comparing socio-economic conditions between foreign born and domestic born populations among the major Latino national groups in the New York City metropolitan area as of 2005.

Methods: Data on Latinos and other racial/ethnic groups were obtained from the U.S. Census Bureau American Community Survey, reorganized for public use by the Minnesota Population Center, University of Minnesota, IPUMSusa. Cases in the dataset were weighted and analyzed to produce population estimates.

Results: New York City Latinos lag considerably behind all other groups in terms of total family income. While median family income for non-Hispanic white residents far …