Economics Commons^™

The Outdoor Recreation Economy In The Mountain West, Kaylie Pattni, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This fact sheet provides select data from the State Outdoor Recreation Satellite Account (ORSA) at the Bureau of Economic Analysis (BEA) to highlight the outdoor recreation economy in the Mountain West region, including Nevada, Utah, Arizona, New Mexico, and Colorado.

Economic Segregation, Inequality, And The New Urban Crisis In The Mountain West, Ember Smith, Caitlin Saladino, William E. Brown

Housing & Real Estate

This fact sheet highlights economic segregation, inequality, and the effect of the “New Urban Crisis” in the Mountain West region (Nevada, Arizona, New Mexico, Colorado, and Utah) as computed and analyzed by Richard Florida in The New Urban Crisis: How Our Cities are Increasing Inequality, Deepening Segregation, and Failing the Middle Class- and What We Can Do About it.

The Future Of Work In The Mountain West, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights the potential net job growth in the Mountain West states (Nevada, Utah, Arizona, New Mexico, and Colorado) and automation employment implications in each county in the region as detailed in The future of work in America: People and places, today and tomorrow, a report by the McKinsey Global Institute.

How Technology-Based Start-Ups Support U.S. Economic Growth, Mary Blankenship, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet examines the trends of technology-based start-ups within the United States and specific states in the Mountain West (Arizona, Colorado, Nevada, Utah, and New Mexico) across the top 10 technology industries in 2016, using data provided by a report from the Information Technology and Innovation Foundation.

Small Business Innovation Research & Small Business Technology Transfer Programs In Nevada, Kaylie Pattni, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This fact sheet highlights how Small Business Innovation Research (SBIR) and Small Business Technology Transfer Programs (STTR) operate in Nevada. The data is drawn from the Small Business Administration (SBA) website.

Best Performing Cities: Where America's Jobs Are Created And Sustained, Peter Grema, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet summarizes and expands upon the findings of the Milken Institute’s 2018 Best Performing Cities series report on the top 200 large cities and top 200 small cities in the United States in 2018. For the purposes of this Fact Sheet, the report focuses on 26 metropolitan areas located within the Mountain West region of the United States (Nevada, Arizona, Utah, Colorado, and New Mexico).

Brain Drain In The Mountain West, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights the effects of major shifts in geographic mobility patterns of highly-educated citizens in the Mountain West (Nevada, Utah, Arizona, New Mexico, and Colorado). The phenomenon, dubbed “brain drain” by experts, is characterized by the out-migration of a group of highly-educated people. “Brain gain” describes the opposite: when a location attracts highly-educated people. Several states are keeping and welcoming more highly-educated adults, while other states are rapidly losing talent. This migration pattern has important implications for social, political, and economic issues facing the country.

Economic Prosperity Of Nevada Counties And Southwest Metros, Madison Frazee-Bench, William E. Brown, Caitlin Saladino

Economic Development & Workforce

This Fact Sheet highlights the economic and social disparities of Nevada’s counties as well as the counties in the Southwest Metro Area. By using data from The Hamilton Project, the following tables illustrate disparities within each county in Nevada and in the Southwest Metros.

Migrants And Refugees: Are They Holding Us Back Or Pushing Us Forward?, Dany Bahar

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled "Migrants and Refugees: Are they holding us back or pushing us forward?" by Brookings Fellow in Global Economy and Development, Dany Bahar. It is often cited that human mobility is key to economic growth and productivity. Evidence also points to the economic costs and benefits of international migration for both the sending and receiving countries. This lecture explores if roads to economic growth and prosperity require restrictions to migration, or quite the contrary.

Persistence And Cyclical Dynamics Of Us And Uk House Prices: Evidence From Over 150 Years Of Data, Giorgio Canarella, Luis Gil-Alana, Rangan Gupta, Stephen M. Miller

Molasky Family Department of Economics and Real Estate Faculty Research

This paper provides a new and unique look at the dynamics and persistence of historical house prices in the USA and the UK using fractional integration techniques not previously applied to housing markets. Unlike previous research, we consider two components of persistence of house prices: the component associated with the long-run trend and the component associated with the cycle. We find evidence of cyclical and long-run persistence in the UK housing markets. In contrast, we fail to find evidence of cyclical persistence for the USA. For the sub-samples, which account for a structural break in each series, an important difference …

Digitalization And The American Workforce, Mary Blankenship, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet examines the rate of digitalization within the Metropolitan Statistical Areas (MSAs) of the Mountain West division using the findings and data from Digitalization and the American Workforce, a report from the Brookings Institution.

Payday Lenders And Credit Cards: A Hidden Driver Of Income Inequality, Aaron Klein

Brookings Scholar Lecture Series

As part of the Brookings Scholar Lecture Series, Brookings Mountain West presents a lecture titled "Payday Lenders and Credit Cards: A Hidden Driver of Income Inequality" by Brookings Fellow in Economic Studies, Aaron Klein. This lecture examines how, for millions of working families, America’s slow payment system costs billions of dollars. The system needs technological innovation, but incumbency, economies of scale, and government may counter technological advancement. This lecture explores if the U.S. remains the dominant global standards setter for payment instruments.

Economic Growth In Mountain West Metropolitan Areas, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights trends in America’s economic progress, demonstrating how four metropolitan statistical areas (MSAs) in the Mountain West region (Salt Lake City, Phoenix-Mesa-Scottsdale, Las Vegas-Henderson-Paradise, and Denver-Aurora-Lakewood) fared from 2016 to 2017 and from 2007 to 2017 compared to the national economy and the 100 largest metropolitan economies.

The Mountain West: Affordable Housing Opportunities, Kaylie Pattni, Caitlin Saladino, William E. Brown

Housing & Real Estate

This fact sheet provides selected data pertaining to the Mountain West region from, The Gap: A Shortage of Affordable Homes, a 2018 report by the National Low Income Housing Coalition. The report includes statistics “based on data from the 2016 American Community Survey (ACS) Public Use Microdata Sample (PUMS). THE ACS is an annual nationwide survey of approximately 3.5 million addresses.”

Urban & Suburban Population Growth In The Mountain West, Elia Del Carmen Solano-Patricio, Caitlin Saladino, William E. Brown

Demography

This Fact Sheet summarizes and adapts the findings of the Brookings Institution’s report on population growth and loss in the nation’s top 87 largest cities and top 53 metropolitan areas. For the purposes of this Fact Sheet, the focus of the report is narrowed to 14 cities and 5 metropolitan areas located within the Mountain West region of the United States (Arizona, Colorado, Nevada, New Mexico, and Utah).

Las Vegas And Reno, Nevada Renter Migration, Peter Grema, Caitlin Saladino, William E. Brown

Demography

This Fact Sheet summarizes and expands upon the findings of Apartment List’s Renter Migration Report. The data presented herein focuses on renter search inquiries (both inbound and outbound) regarding Las Vegas and Reno, Nevada.

Defense Spending By State - Nevada Fiscal Year 2017, Peter Grema, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet reprints two pages from the March 2019 DEFENSE SPENDING BY STATE (FISCAL YEAR 2017) publication issued by the United States Department of Defense: Office of Economic Adjustment for the purposes of relaying information related to defense spending in the State of Nevada.1 The original report presents data from fiscal year 2017, the most recent annual data available at the time of publication.

Automation Potential And Artificial Intelligence, Ember Smith, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights the automation potential in the Mountain West states (Nevada, Utah, Arizona, New Mexico, and Colorado) and its metropolitan statistical areas using the findings of Automation and Artificial Intelligence: How machines are affecting people and places, a report by the Brookings Institution.

Chmura Economic Diversity Index: Nevada Counties And Southwest Metros, Madison Frazee-Bench, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights Nevada and Mountain West data from the 2018 Economic Diversity Index (EDI), prepared by Chmura Economics & Analysis the economic diversity data details the disparities within counties in Nevada. The tables below show the different levels of economic diversity that exist in Nevada’s counties and other relevant metropolitan statistical areas (MSAs).

Economic Innovation Group (Eig) 2018 Distressed Communities Index (Dci): Nevada Counties, Lauren Fousek, Caitlin Saladino

Economic Development & Workforce

This Fact Sheet highlights the Economic Distress Indicators (EDI) for the 17 counties within Nevada. Using the Economic Innovations Group1 DCI (Distressed Communities Index),2 the Tables that follow report EDI for each of the 17 counties in Nevada, grouped within two time-frames (2007-2011 and 2012-2016), and showing change over time. The data provides the opportunity to compare how the Great Recession affected communities across the nation and how the ongoing recovery is reshaping the economies and social networks of our nation.

Making A Middle Class: Colleges And Cities In The Mountain West, Richard Reeves

Brookings Mountain West Publications

A stronger middle class is important for the economic and political future of both cities and nations. Analyses focusing on the size of the middle class can be misleading, providing information on income inequality or temporary economic conditions. More important than the size of the middle class is the quality of life of the middle class. Higher education can serve students from middle-class backgrounds, helping them sustain a middle-class standard of living and rise up the economic ladder, as well as providing “on ramps” to the middle class for those from low-income backgrounds. We show that middle class wage earners …

Is Real Per Capita State Personal Income Stationary? New Nonlinear, Asymmetric Panel‐Data Evidence, Furkan Emirmahmutoglu, Rangan Gupta, Stephen M. Millter, Tolga Omay

Molasky Family Department of Economics and Real Estate Faculty Research

This paper re‐examines the stochastic properties of U.S. state real per capita personal income, using new panel unit‐root procedures. The new developments incorporate non‐linearity, asymmetry, and cross‐sectional correlation within panel‐data estimation. Including nonlinearity and asymmetry finds that 43 states exhibit stationary real per capita personal income whereas including only nonlinearity produces 42 states that exhibit stationarity. Stated differently, we find that two states exhibit nonstationary real per capita personal income when considering nonlinearity, asymmetry, and cross‐sectional dependence.

Income Inequality In Nevada And The Southwest Megapolitan Triangle, Yanneli Llamas, Caitlin J. Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights income inequality in Nevada at both the county and metropolitan level. The Tables that follow report disparities in income across 16 Nevada counties, as well as 9 metropolitan areas in the state, as identified by the Economic Policy Institute. To offer a complete comparison, we also present income disparities between the components of the Southwest Megapolitan Triangle: Las Vegas-Henderson-Paradise, NV; Los Angeles-Long Beach-Anaheim, CA; and Phoenix-Mesa-Scottsdale, AZ.

Reinventing The Wheel: Comparing Family Friendly Vegas And Adult Friendly Vegas Revenue Growth, James Vaughn

International Conference on Gambling & Risk Taking

The one constant for Las Vegas is change, always looking for the Next Big Thing™. In the 1990s, Las Vegas engaged in a grand experiment: roller coasters, amusement parks, family pools and shows. In the 2000s, Las Vegas reinvented itself back to its roots: condo not amusement parks, sensual not swashbuckling shows, topless European ultra-pools not kiddie pools. While the house always wins, did the casinos of the 1990s or 2000s beat the ultimate house, going beyond nominal revenue growth into the jackpot of real revenue growth?

The Unpredictable Positive Effects Of Sports Gambling: Gamblers Think Losing Feels Worse Than It Actually Feels, Guy Voichek, Nathan Novemsky

International Conference on Gambling & Risk Taking

Implications statement

Gamblers underestimate how much fun small wagers add to enjoying sports events. They think losing will feel worse than it really does. Simple reminder can correct this misprediction.

Abstract

When considering whether to gamble on a sporting event, people may ask themselves how winning or losing will affect their experience. In a series of four experiments, we find that people under-appreciate the positive effect of gambling on watching sporting events, in a way that causes them to under-value the opportunity to place a small stakes gamble. While participants predict that a gamble will enhance or diminish an experience …

Does Near Win Affect People's Investment Behavior?, Jia Yuan

International Conference on Gambling & Risk Taking

Near win is a special kind of failure that comes closely to actual success. It shows up frequently in people’s investment behavior. Only a few studies have researched on the relation between near win and its impact on the future investment. And in the literature, there are conflicting results on this issue. In this paper, we examine the effect of near win on people’s investment amount by exploiting a unique panel individual level lottery purchase data with over 100,000 players which trace each of their purchases for several months. We find that people who have experienced a near win would …

Public Interests And Economic Regulation Of Gambling, Rein Halbersma, Joost Poort

International Conference on Gambling & Risk Taking

In the Netherlands, the Betting and Gaming Act from 1964 largely determines the current structure of gambling markets. The policy was to channel consumers to a limited number of licensed operators. This led to state-owned monopolies for lotteries, sports betting and casinos, a private monopoly for horse race betting, a limited number of privately owned charity lotteries, and a large number of private slot machines operators.

Pending legislation proposes an online market without a limit on the number of operators. Furthermore, state ownership will be phased out, and introduced legislation to privatizing and expanding the number of casinos. The current …

Iq And Gambling Consumption: An Analysis Of Horse Race Betting Participation And Expenditure Using Individual-Level Data, Niko Suhonen, Tuomo Kainulainen, Jani Saastamoinen, David Forrest Prof.

International Conference on Gambling & Risk Taking

Abstract

Recent literature suggests that intelligence is positively associated with economic outcomes involving risky decisions such as investment portfolio returns (Grinblatt et al. 2012). Gambling is a form of entertainment in which consumers buy risky products with negative expected values. However, the relationship between intelligence and gambling consumption is not understood yet. We use a unique individual-level data set from Finland to investigate how intelligence predicts gambling participation and expenditure. Our data consists of betting data from a monopoly horse race betting operator (betting participation and expenditure on betting), background information on the Finnish adult population from Statistics Finland (e.g. …

In Search Of Equilibrium – How Regulatory Changes Impact The Gambling Industry In Poland, Sebastian Meitz, Stanisław Pogorzelski, Przemysław Bloch

International Conference on Gambling & Risk Taking

The so-called Polish “gambling affair” of 2009 resulted in the adoption of a new Act on Gambling. The regulation significantly changed the legal environment in Poland. It was also the starting point of what we identified as the search of equilibrium - a number of further legislative changes aimed at creating a sustainable environment for gambling. Some market segments became delegalized, some monopolized, and others liberalized. The Polish Ministry of Finance and the parliament tried to find the right balance between consumer protection, business growth, and government revenue. A goal that is still to be achieved.

This article examines the …

What Is A Game Of Chance? An Application To Loot Boxes, Wessel Oomens

International Conference on Gambling & Risk Taking

The traditional landscape of games of chance such as lotteries, betting, casinos and slots has become intertwined with complex financial products as well as digital games with elements of chance.

The Netherlands Gambling Authority has issued a guidance paper outlining a five-step decision process in order to determine whether a game classifies as gambling:

• Threshold: is the number of providers, players and the amount money involved considerable enough to warrant spending resources in assessing the game?
• Overlap: is there potential overlap with other rules and regulations, in particular those governing financial products?
• Prize: does the game award its winners with …