Economics Commons^™

‘They Won't Work!’ - Efficacy Of An Active Labor Market Policy From The Perspective Of Psychology, Marco Meissner

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Big Bang Vs. Gradualism, Lauren Sims

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Strong Euro Weakening Dollar: A Potential Economic Demise, Guadalupe F. Garcia

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Understanding Immigrant Behavior In Denmark: The Immigrant Enclave And Employment Rate Paradox, Andrew Christensen

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Eu's Common Foreign Policies Towards Russia: Past, Present And Future, Yigit Canay

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Icy/Hot: Norwegian And Finnish Policy Toward The European Union, Mia Bennett

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Theorizing The Odds: The European Union, Online Gambling Regulation And Integration Theory, Alexis Spencer-Notabartolo

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Union Royale Belge De Sociétés De Football Association Asbl V. Jean-Marc Bosman: The Evolution Of Labor Law In Professional Soccer And Its Implication, Marvin Smith

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Economic And Monetary Union: A Study Of Domestic Influence In The European Union From 1989-1993, Jason Grishkoff

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

The Impact Of Eu Oversight On Corporate Governance In The German Auto Industry, Jason Gorn

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Rival Models To Capitalism: Can The Nordic Model Survive The New Global Economic System?, Robbie Block

Claremont-UC Undergraduate Research Conference on the European Union

No abstract provided.

Scaling Down And Up: Can Subnational Analysis Contribute To A Better Understanding Of Micro-Level And National Level Phenomena?, Aseema Sinha

CMC Faculty Publications and Research

While cross-national analysis dominates comparative politics, many scholars have moved to the subnational level to test hypotheses generated at the national level. Subnational studies allow researchers to control for variation in a way that even the most sophisticated cross-national statistical studies are unable to.

Book Review: Modeling The Composition Of Government Expenditure, Cameron A. Shelton

CMC Faculty Publications and Research

Throughout the developed world, public finances dominate headlines. Given the widespread unsustainability of budget plans and the bitter attrition of retrenchment, they are like to do so for the next decade or more. As they have long done, different polities are likely to make different choices for how to spend dwindling public moneys. Understanding the sources of past heterogeneity—why countries have differed in their public spending—is thus of interest as we enter an age of fiscal adjustment. Messieurs Creedy and Moslehi offer us a technical primer laying the groundwork for modeling efforts.

The "Great Moderation" In A Dual Exchange Rate Regime, Sven W. Arndt

CMC Faculty Publications and Research

In the early nineties, the U.S. economy was emerging from a brief slump, monetary policy was easy, and economic activity recovered quickly during the decade, with GDP eventually reaching and then passing the consensus full employment level. Yet aggregate inflation remained surprisingly subdued. This moderation in prices at the aggregate level persuaded policy makers to allow the easy-money stance to continue in spite of the presence of inflation in non-tradables and in housing and construction in particular. This paper uses a flex-price, mixed-exchange rate model to examine some of the major contributing factors to economic developments in the two-decade period …

Caught In A Poverty Trap? Testing For Single Vs. Multiple Equilibrium Models Of Growth, Cameron Shelton, Francisco R. Rodriguez

CMC Faculty Publications and Research

We look for permanent effects to per capita GDP from exogenous, temporary shocks. Our shocks are temporary changes to the export revenues of small, open economies. We find no evidence that even the largest of these temporary shocks, in excess of 9.7% of GDP, produce permanent effects to the growth path of per capita GDP. The inability to reject a single-equilibrium world with shocks of this magnitude suggests that multiple-equilibria, if they exist, are too widely separated to be policy-relevant. Current aid initiatives, which are of a similar magnitude, are not likely to deliver transition to a higher growth path.

The Early Decision Option In College Admission And Its Impact On Student Diversity, Heather Antecol, Janet Kiholm Smith

CMC Faculty Publications and Research

Colleges and universities that adopt early decision (ED) as an admission practice can generate additional resources by attracting wealthier students who make binding commitments to attend and forgo shopping for competing aid offers. An unanswered question is whether the resources generated from price discrimination are used by schools during the regular admission process to attract more diverse students. Using a sample of private national universities and liberal arts colleges, we model the choice to adopt an ED program and its impact on students’ racial and geographic diversity. We find that schools facing more competition for students are more likely to …

Stabilization Policy In An Economy With Two Exchange Rate Regimes, Sven W. Arndt

CMC Faculty Publications and Research

This paper uses a flex-price open economy macro model to examine the effectiveness of U.S. monetary and fiscal policies when the dollar floats freely against the euro, but is fixed against the Chinese yuan. It is assumed that capital mobility is high between the U.S. and the Eurozone, but low between the U.S. and China. The model allows for short-run price flexibility and imperfect substitutability between domestic and foreign financial assets. The focus is on the implications for the efficacy of U.S. macro stabilization policies of China’s fixed-rate strategy. While many countries have pegged their currencies to the dollar, China …

The Interaction Of Political Capacity And Economic Growth To Attract Foreign Direct Investments At The Provincial Levels Of Developing Countries, Murniz Allen Vasay Coson

CGU Theses & Dissertations

This dissertation will explore how developing provinces within countries attract foreign direct investment. The policy implication to this study is important because it could account for the uneven distribution of growth in developing countries that so frequently leads to dual economies. To attract foreign direct investments, provincial governments compete among themselves trying to appeal to international investors. There is consensus in the economic development literature that both economic and political variables interact to advance a nation's economy. The ability for a country to provide a free market economy to exchange goods and ideas makes the environment more favorable for investors, …

Essays On Regional Economic Integration In East Asia, Teerasak Sapwarobol

CGU Theses & Dissertations

This dissertation seeks to understand the pattern of trade and portfolio investment in East Asian economies and how trade integration can affect the level of bilateral asset holdings. On the trade side, the determinants of bilateral trade flow is examined at the product level, not the aggregate, so as to assess the impact of RTAs across product types as well as the nature of the home market effect and the role of similarity of demand structures. On the financial side, the dissertation synthesizes analyses of the composition of cross-border portfolio holdings in East Asian economies, focusing on the importance of …

Mortgage Default In Southern California: Examining Distressed Borrower's Decision Making And Market Contagion, Michael Wilkerson

CGU Theses & Dissertations

This dissertation focuses on mortgage defaults in Southern California during the housing bubble of the 2000s. The rapid decline in the housing market that precipitated the current recession has been accompanied by an unprecedented number of loan defaults and foreclosures. Recent studies have identified two major theories of default--the "double trigger" hypothesis, where negative equity and an income shock are necessary conditions for default--and "strategic default" where negative equity is a sufficient condition for default. This paper adds to the default literature by adding short sale as another possible outcome of mortgage default.

The primary goal is to analyze the …

Effects Of United States Monetary Policy On The Capital Flows To The Latin America Countries, David Rene Samayoa Gordillo

CGU Theses & Dissertations

In the latest time, the US has had an easy Monetary Policy. Because of the increasing link among the countries through interconnections on international trade, financial, and labor markets, such policy has not only had effects in the US economy, but also in the rest of the world. So many countries, especially emerging and developing countries, have suggested that such a policy has been causing an excessive flow of funds out of the US which are disrupting the exchange rate and competitiveness of those countries. An innovation of the analysis is that capital flows are divided in "Firm related" (direct …

Taxation With Representation Ain't So Hot Either: An Empirical Analysis Of Taxpayer Satisfaction, Rei Kawano

CMC Senior Theses

This paper analyzes whether the decreasing progressivity of the US Federal Tax system appear to affect taxpayer satisfaction. I use data from the publicly available General Social Survey and combine them with average tax rates from Piketty and Saez (2007). In this study, two distinct questions are addressed: (1) Is a taxpayer’s belief that his or her own federal income tax is too high affected by their actual average tax rates? (2) Is a taxpayer’s belief that his or her own federal income tax is too high affected by the progressivity of the federal income tax?

The results show that …

The Earning Gap Of Criminality: Effects Of Stigma, Length And Form Of Incarceration, Matthew P. Laredo

CMC Senior Theses

This paper shows that criminality causes a significant decrease in the earning potential of individuals. In addition, there is evidence to support that criminality has the same negative effect on earnings regardless of type of sentencing, whether probation or incarceration. Previous studies indicate that ex-convicts do not benefit from in-prison based programs. The purpose of this paper is to identify the short-term earning differentials between offenders and their law-abiding counter parts and offer insight as to how this can affect recidivism. Research shows that recidivists suffer the largest wage differentials, which significantly lowers their employment utility. This reduction of labor …

An Economic Analysis Of Foreign Ownership In Professional Sports: Motivation, Success, And Implications For United States Market, Alex F. Wheatley

CMC Senior Theses

An economic analysis of foreign ownership in sports. Focusing on the English Premier League, National Basketball Association, and Major League Baseball.

A Compensation Comparison: Determinants Of Compensation For Chief Executive Officers And University Presidents, Jessica Bartlett

CMC Senior Theses

The compensation of chief executive officers has long been an alluring and controversial topic, especially in light of the rapid rise in CEO earnings over the past several decades, which has provoked discussion on the manner in which CEOs are monetarily rewarded. Recently, university presidents have joined company CEOs in the public spotlight, as increasing levels of compensation for college presidents have also sparked scrutiny and debate. This paper examines the determinants behind CEO compensation and investigates the extent to which insights on these factors compare to the compensation determinants of chief executives at universities. Ultimately, this study finds similarities …

On The Economic Effects Of Policy Responsiveness: The Role Of Candidate Selection For General Elections, Marco Alejandro Pérez-Mares

CGU Theses & Dissertations

Policy responsiveness to the demands of the whole is important because it is a determinant of growth and development: Institutions that make governments more inclusive favor economic progress and factors that make governments more exclusive inhibit prosperity. Growth-enhancing policies likely to please the citizenry include policies that ensure the prevalence of the rule of law, policies that protect property and intellectual rights, and policies that foster competition, access and the perfection of markets. In contrast, growth-retarding policies likely to initiate from the representation efforts of politicians advancing narrow concerns include infringement on property rights, diffuse patent legislation, regulation to rise …

A Historical Review Of Five Of The Top Fast Food Restaurant Chains To Determine The Secrets Of Their Success, Alex Leon Lichtenberg

CMC Senior Theses

The primary goal of this paper is to critically examine five of the top nine US fast food chains to look at their history and to determine what factors have lead to their massive success. The companies that will be analyzed include: McDonald's, Taco Bell, Kentucky Fried Chicken, Domino's Pizza, and Subway. Similarities and differences of these companies are compared and contrasted throughout the paper and clearly demonstrate how each company has managed to capture and maintain major market share in their respective food categories. Areas that are examined range from product quality to to business models to consumer psychology. …

The Wealth Effects Of The 2010-2011 Arab Uprisings: A Market Model Event Study, Rachit Khaitan

CMC Senior Theses

Previous empirical analyses have concluded that political events can have significant linkages with stock returns. Using Brown & Warner’s (1984) OLS market model, I examine the effect of political disruptions in the 2010-2011 Arab uprisings on major stock indices of Egypt, Tunisia, Jordan, Lebanon, Saudi Arabia, Dubai and London. My analysis finds mostly negative abnormal returns, highly statistically significant relative to the S&P 500, associated with many key events between December 1^st, 2010 and December 1^st, 2011. My findings suggest that the loss of investor wealth can be attributed to dramatic regime changes and large scale …

Merger Announcement Returns With Preparations, Sang-Hyun Lee

CGU Theses & Dissertations

This paper analyzes the relationship between the merger announcement returns and the bidding firms' preparations for mergers. In this study, merger preparations are defined as bidding firms' adaptive actions of changing their executives prior to mergers. An analysis of the relative effectiveness of merger preparations is conducted through event study for univariate tests. In addition, a regression for multivariate tests analyzes incentives for making merger preparations. The results of these studies indicate that (1) hiring of new executives from outside the target proves to be the most effective merger preparation, (2) firms who make merger preparations have higher returns, and …

Can Online Sentiment Help Predict Dow Jones Industrial Average Returns?, Aria K. Krumwiede

CMC Senior Theses

In this paper, we explore the relationship between a Global Mood Time Series, provided by Wall Street Birds, and the Dow Jones Industrial Average (DJIA) from April 2011 to December 2011. My econometric results show that there is no long run equilibrium relationship between the level of global mood and the level of the DJIA. These results apply to the whole period, as well as in the six-month subperiods. Furthermore, daily changes in global mood do not Granger cause DJIA returns. However, changes in global mood do appear to be useful in forecasting the volatility of the DJIA, and my …