Economics Commons^™

Matching And Mentoring: Effects Of Managers On Worker Productivity, Chengyuan Hua

Economics Faculty Working Papers Series

This paper studies how managers matter for worker productivity by exploiting manager moves in Major League Baseball. I first show that manager effects are primarily match-specific using an AKM-type model. Then, staggered difference-in-differences results show positive effects of shared characteristics, including same position, both lefties, and same hometown. Effects of same position and both lefties are larger than same hometown. Effects are more pronounced for younger and less productive workers, indicating that mentoring is the primary mechanism while in-group bias is secondary. Finally, there is suggestive evidence that a manager’s productivity as a worker is not a positive characteristic.

The Impact Of Road Quality On Nearby House Prices, Michael Cary, Brad Humphreys

Economics Faculty Working Papers Series

This paper estimates the impact of road quality on house prices in Hamilton County, Ohio, USA which includes the city of Cincinnati. We use a hedonic regression framework using road segment level international roughness index (IRI) data as a measure of road quality. We find that rougher roads decrease house prices, with a one standard deviation increase in road roughness from the sample mean decreasing house prices by 3.5%. This equates to a $6,700 decrease in the value of an average priced home in our sample, demonstrating the importance of road quality and maintenance for local economic development.

The Impact Of Legalized Sports Betting On Divorce, Alvaro Muniz-Fernandez, Brad Humphreys, Jane E. Ruseski

Economics Faculty Working Papers Series

This paper estimates the causal effect of legalization of sports betting on marital dissolution. We exploit the staggered legalization of sports betting in states following the Murphy v. NCAA (2018) Supreme Court as a source of exogenous variation, using a U.S. state-year panel from 2012 to 2023. Implementing a difference-in-differences design, we find that legalization increases both the flow and stock of divorces: the annual divorce rate and the share of divorced men rise by 0.107 and 0.276 percentage points, respectively. These effects accumulate gradually over the post-treatment period, consistent with a mechanism operating through the slow deterioration of household …

Optometry Associations And The Free Rider Problem Revisited, Matthew Mullis, Joshua Hall, Edgar Orozco

Graduate Student Scholarship

Members of professional associations pay dues to professional associations for a variety of reasons, including lobbying. This can lead to a free-rider problem if non-members enjoy the benefits without paying. Using 2023 data from 30 states, we revisit earlier work on the free-riding problem by analyzing how continuing education requirements, number of optometrists, benefit salience, and legal services affect membership rates. We find no significant relationship between continuing education hours or total optometrists and membership percentages. We introduce two variables measuring selective incentives: salience of advertised benefits and availability of legal services. Legal services exhibit a negative association with membership …

Sports Betting, Lotteries, And State Revenues In The Post-Paspa Era, Joseph Nedved, David Nason, Adam Hoffer, Amir B. Ferreira Neto, Brad Humphreys

Economics Faculty Working Papers Series

State lotteries are an important source of state revenue in the 45 states that operate them. Following the repeal of the Professional and Amateur Sports Protection Act (PASPA), 38 states and Washington, DC legalized sports betting. Prior evidence is mixed on whether sports betting and lotteries are substitutes, complements, or unrelated goods, raising concerns about potential fiscal impacts. Using monthly lottery sales data from 18 states and a difference-in-differences design exploiting staggered legalization, we find no economically or statistically significant effect of sports betting on state lottery revenues. These results are robust across specifications and sub-samples.

The Role Of Global Inflation In Estimation Of Us Output Components In The Post Bretton Woods Era: Evidence From Multivariate Unobserved Components Models, Arabinda Basistha

Economics Faculty Working Papers Series

We study the role of global inflation in estimation of US output components using multivariate unobserved components models. We augment the US inflation equations with global inflation based on strong empirical evidence in past studies. We further allow past global and domestic inflation to influence the output dynamics as a separate output component, beyond the output trend and output gap. The estimation results from the state-space model show a negative association of past inflation with this output component. The role of global inflation is informative in the negative association with the inflation based output component. The long-term fall in inflation …

The Economic Impact Of Coal And Coal-Fired Power Generation In West Virginia, John Deskins, Brandon Frazier, Brianna Guarnieri, Mason Sheppard, Will Turman

Bureau of Business & Economic Research

No abstract provided.

West Virginia Pre-K-12 Enrollment Projections, John Deskins

Bureau of Business & Economic Research

No abstract provided.

Estimating Corporate Investment Efficiency With Bias Correction: A Semiparametric Panel Model Approach, Taining Wang, Zhao Wang, Feng Yao, Subal C. Kumbhakar

Economics Faculty Working Papers Series

Empirical studies often use the residuals from ordinary least squares regression models to represent certain discretionary or unexpected components and then regress these residuals on potential determinants. However, this two-step approach has been criticized for leading to biased estimates, invalid inferences, and unreliable empirical results. This paper shows that the shortcomings of the two-step approach and alternative existing methodologies are retained and even more pronounced when analyzing inefficient corporate investment. To address these shortcomings, we propose a novel semiparametric model tailored for investment efficiency analysis. Our model effectively mitigates estimation bias caused by inappropriate model design or misspecified model structure, …

When Prices Spike: Identifying Excessive Volatility In Fertilizer Markets, Feng Yao, Manuel A. Hernandez

Economics Faculty Working Papers Series

Sharp and volatile fertilizer price movements can hinder adoption and reduce agricultural productivity, especially among vulnerable smallholders. Using a nonparametric location-scale approach to model price returns, we quantify the conditional value-at-risk (CVaR) - the high return threshold exceeded with low probability - to identify excessive price spikes in potash, urea, and di-ammonium phosphate (DAP) markets. We use the bias-corrected estimator from Martins-Filho et al. (2018) and propose a simpler estimator based on Hill (1975). Backtesting results indicate superior performance of the Hill-based estimator, supporting its value as a convenient method for detecting unusual fertilizer price surges amid recurring global volatility.

Nonparametric Estimation Of Smooth Coefficients In Fixed-Effect Panel Data Models, Taining Wang, Feng Yao, Jun Cai

Economics Faculty Working Papers Series

We propose a kernel-based nonparametric estimator for a smooth coefficient panel data model with fixed effects. Without requiring a zero sum of fixed effects, we propose an estimator that is easy to construct and computationally efficient. Eliminating the fixed effects through a local within transformation, we perform a local linear estimation for the coefficient functions associated with time varying variables and associated derivatives. We further estimate the intercept coefficient function, if present, through a difference of kernel weighted averages. We characterize the estimator’s asymptotic properties under a large-n and large-T framework. We demonstrate that the estimator is not asymptotically equivalent …

Three Essays In Cpi Bias And Health Economics, Auderta Amoako-Nuamah

Graduate Theses, Dissertations, and Problem Reports (ETD)

The first essay estimates bias in the Consumer Price Index (CPI) for elderly individuals in the United States using Engel curve methodology and household-level data from the Panel Study of Income Dynamics (1999–2023). The analysis focuses on how well the CPI reflects changes in the cost of living for older Americans, with particular attention to differences by gender and marital status. Results show that from 1999–2011, the CPI overstated the increase in the cost of living for both elderly and non-elderly households. In contrast, from 1999–2023, the CPI understated cost increases, with the bias generally larger for non-elderly households. Within …

Three Essays In Health Economics, Caroline Andressa Welter

Graduate Theses, Dissertations, and Problem Reports (ETD)

Health outcomes and access to care are shaped by the interaction between public institutions, administrative rules, and responses to health risk. This dissertation investigates how barriers to access, changes in perceived risk, and policy design influence participation in public programs, preventive health behavior, and  treatment continuation. Across three essays in health economics, I examine how individuals respond to disruptions in service delivery, epidemic exposure, and administrative burden, with a focus on vulnerable populations that depend on public systems of care.
The first essay analyzes the impact of Social Security Administration field office closures on participation in federal disability programs during …

Three Essays On Urban Transportation, Daniel Amorim Souza Centuriao

Graduate Theses, Dissertations, and Problem Reports (ETD)

Urban environments are shaped by dynamic interactions between infrastructure development, policy interventions, and episodic demand shocks, all of which can generate unintended externalities in the form of motor vehicle collisions, injuries, and fatalities. This dissertation investigates the determinants of traffic safety in dense urban settings, with a particular focus on how different sources of urban activity affect collision risk and severity. Using New York City as a case study and leveraging high-resolution spatial and temporal data, I examine three distinct but interconnected mechanisms: construction activity, traffic safety policies, and large-scale events.

The first chapter analyzes the impact of urban development, …

Understanding Housing Market Adjustment: Evidence From Population Shocks, Regulation, And Monetary Policy, Michael Tyler Duncan

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation studies how housing markets adjust to demographic shocks, local regulation, and macroeconomic policy through three related essays. Chapter 1 develops a dynamic stochastic general equilibrium (DSGE) model and panel VECM evidence to study how population volatility affects housing prices, rents, and construction. It finds that population shocks generate strong price responses across housing markets and more pronounced effects in tight housing markets and declining regions. Chapter 2 examines local rental registry policies using county-level difference-in-differences analysis and finds limited aggregate effects but meaningful heterogeneity across treatment intensity and market segments. Chapter 3 revisits the macro-housing VAR literature on …

Three Essays On Personnel And Labor Economics, Chengyuan Hua

Graduate Theses, Dissertations, and Problem Reports (ETD)

Labor market dynamics are not only relevant for worker welfare, but also matter for firm productivity. This dissertation investigates the dynamic interactions between firms and workers, with a particular focus on the determinants and effects of human resources management practices. Using professional sports labor markets as a natural laboratory, I examine three distinct but interconnected mechanisms: managers, hiring decisions, and contract setting.

The first chapter studies how managers matter for worker productivity by exploiting manager moves in Major League Baseball. I first show that manager effects are primarily match-specific using an AKM-type model. Then, staggered difference-in-differences results show positive effects …

Essays On Public Policy, Labor Markets, And Regional Economics, Toby Heaney

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation consists of three empirical essays examining how economic and political outcomes respond to changes in public policy, information, and local economic conditions. Across the three studies, the dissertation applies empirical methods to questions in political economy, economic forecasting, and regional economics, with particular attention to how the effects of economic shocks and policy changes vary across individuals, markets, and geographic areas.

The first essay examines the role of policy salience in electoral outcomes. Building on rational-choice and median-voter models, it argues that voters may respond disproportionately to policies that impose concentrated and highly visible costs, even when those …

Coarse Salary-Setting And Behavioral Teams, Chengyuan Hua

Economics Faculty Working Papers Series

Among National Hockey League (NHL) player contracts signed in 2011-24, over 38% are divisible by $100,000. This paper shows that the bunching of NHL contracts at round numbers is partly driven by team coarse wage-setting. I first show that teams with more coarse contracts have worse team performance. Then, my empirical results validate two model predictions derived from a wage-setting model in which optimization costs lead to the adoption of rounded wages. With a novel measure of management quality, I document a negative relationship between management quality and coarse salary-setting. Next, I find that coarse salary-setting is associated with higher …

Daily Consumption Smoothing? New Evidence From A Payment Diary, Shaun Gilyard, Scott Schuh

Economics Faculty Working Papers Series

This paper shows that consumption and income data in the Diary of Consumer Payment Choice (DCPC) cover high percentages of U.S. data, forecast well in real time, and replicate the literature’s estimation and general rejection of PIH models with time aggregated data. Novel estimates reveal evidence of daily consumption smoothing after accounting for three features of daily data: 1) discrepancy between consumption and expenditures (e.g., bill payments); 2) discrete daily expenditures and income; and 3) asynchronous consumption and income. Convenience samples used in the literature appear to reflect selection effects related to payment choices (cash or mobile) that affect model …

Bankruptcy, Ownership Turnover And The Fate Of U.S. Coal Mines, Sara Guffey, Shuichiro Nishioka

Economics Faculty Working Papers Series

This paper examines the survival dynamics of U.S. coal mines following ownership turnover, with particular attention to the role of financial distress and bankruptcy procedures. Using mine-level data on production, employment, and ownership from the Mine Safety and Health Administration, we show that mines transferred through private workouts are substantially more likely to close within a few years. In contrast, court-supervised transfers reduce the likelihood of rapid shutdown relative to private transactions, but their survival rates remain indistinguishable from mines without ownership turnover. These results speak to the efficiency of bankruptcy institutions: private transactions, in line with White’s (1994) model, …

Soft Infrastructure And The Location Choice Of Multinational Firms:Evidence From Japanese Investment In The United States In The 1980s, Shuichiro Nishioka, Eric Olson, Haoyu Wang

Economics Faculty Working Papers Series

We examine whether culture-specific educational infrastructure influenced the location decisions of multinational enterprises by analyzing Japanese foreign direct investment (FDI) in the United States during the 1980s. Using the quasi-natural experiment of politically-driven Japanese FDI following Reagan-era trade tensions, we test whether pre-existing Japanese Studies programs in U.S. universities predict subsequent Japanese investment across 722 commuting zones. We find that zones with Japanese Studies programs in 1980 were 21-29% more likely to receive new Japanese manufacturing investment by 1992, controlling for traditional determinants likemanufacturing infrastructure, agglomeration, and market access. Our results suggest that "soft infrastructure"—culture-specific human capital pipelines—represents an overlooked …

Hiring Decisions Under Productivity Uncertainty: Risk Preferences And Inaccurate Statistical Discrimination In Nhl Entry Drafts, Chengyuan Hua, Brad Humphreys

Economics Faculty Working Papers Series

This paper analyzes firm hiring decisions under uncertainty about worker productivity. We exploit an exogenous September 15 cutoff date in the National Hockey League entry draft to estimate a sharp RDD and find evidence of risk aversion by teams when drafting players. Specifically, teams appear risk averse in early draft rounds, but risk neutral in later rounds, supporting model predictions by a prior study. Triple-differences results show inaccurate relative-age-based statistical discrimination in the draft, providing implications for team drafting strategies. We find suggestive evidence that experience drives this discrimination, and positive correlation be- tween accuracy of statistical discrimination and team …

Establishing The Creative Network: Wv's Arts Entrepreneur Ecosystem Project, Mckayla R. Braun, Domenica Queen

CRC Research Symposium

The Tamarack Foundation for the Arts’ (TFA) the fellowship for the arts is an art foundation committed to nurturing the next generation of artists by providing a comprehensive support system designed to promote both creative and professional development. Through its fellowship program, TFA provides artists with access to critical resources, including financial literacy education, mentorship, and structured opportunities for artistic and professional growth. Recognizing that creative talent alone is not always sufficient to sustain a long-term artistic practice, TFA’s mission is to equip fellows with the knowledge and tools necessary to thrive both within and beyond the studio. As part …

Three Essays On The Socioeconomics Of Drinking Water Pfas Contamination, Nabin Babu Khanal

Graduate Theses, Dissertations, and Problem Reports (ETD)

Per- and polyfluoroalkyl substances (PFAS) are a group of over 15,000 synthetic compounds widely used for their resistance to heat, stains, grease, and water. While central to many modern conveniences, ingestion of PFAS is increasingly linked to adverse human health outcomes and are now detected globally in drinking water systems. This dissertation investigates three interrelated aspects of PFAS contamination in U.S. drinking water: (1) socioeconomic determinants and spatial patterns of contamination; (2) the economic impacts of contamination on residential property values; and (3) the effect of inconsistent PFAS regulations on public trust in environmental governance.

Using data from the U.S. …

Economic Behavior And Policy Distortions: Evidence From Firms And Households, Seth Joseph Carter

Graduate Theses, Dissertations, and Problem Reports (ETD)

In Chapter 1, I reopen the question of whether U.S. firms experience effective tax decreases directly resulting from federal lobbying expenditures by introducing more rigorous causal-inference testing. I first model lobbying as a productive input for the legislator, affecting firm tax outcomes by influencing the share of scarce legislative attention afforded to industry tax priorities. Using multi-industry, firm-level data from 2007 to 2022, I exploit percentage changes in non-industry lobbying as a proxy for political competition facing firms through a novel application of Bartik, shift-share instrumental variable estimation and two-stage residual inclusion. Effects of induced firm lobbying shifts on reported …

The Economics Of Substance Use: Treatment, Intervention, And Regulation, Christine Bretschneider-Fries

Graduate Theses, Dissertations, and Problem Reports (ETD)

Substance use in the United States has remained an area of concern with rates of overdose deaths increasing steadily over the years. Historically, the United States has relied on abstinence based treatment options for individuals with substance use disorder. Economists have long been interested in the affects of various supply and demand side policy interventions to help reduce the instance of substance use disorder, especially following the prescription opioid crisis of the 1990s and early 2000s. Supply side policies are most commonly enacted as a way to reduce the supply of illicit substances that enter the market. However, these supply …

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 …

Three Essays On Education And Health Economics, Kalvin Mudrow

Graduate Theses, Dissertations, and Problem Reports (ETD)

The first chapter explores the impact of online education on student outcomes by comparing students pre-2020 school closures to students post-2020 school closures. Using student-level panel data from a large U.S. school district spanning 2017-2023 and two outcome variables, reading tests and end-of-level exams, I estimate the effects on different demographic groups, the dynamics of these effects over time, and how these effects differ across students ages. I find a significant decline in student performance after the move to online learning, with additional adverse effects on students who are classified as low-income, female, special education, or ELL. Mechanisms contributing to …

Three Essays On Local Labor Markets, David Henry Nason

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation consists of three essays that employ applied econometric analysis to examine issues related to local labor markets. These analyses explore three distinct sources of structural change or policy interventions and evaluate their implications for regional labor markets. I examine the impact of occupational skill endowments on regional resilience to a recessionary shock, how exposure to increases in employer skill demand affects local labor markets, and whether grants extended by an existing federally chartered regional commission have a positive impact on distressed local labor markets within its service area.

The first chapter of this dissertation studies the impact that …

Three Essays On The Interaction Between Macroeconomics, Money, And Government Bonds, Zejun Jiang

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation, ''Essays on the Interaction between Macroeconomics, Money, and Government Bonds,” has three chapters that study how macroeconomics (e.g., inflation), government bonds, and money interact with each other. It provides insights into how households make optimal maturity choices in government bonds, how households own different types of government bond assets, and how money growth can help understand the cross-country inflation after COVID-19.

The first chapter develops an intertemporal portfolio choice model to investigate the optimal household portfolio choice for government bonds across maturities. The U.S. Treasury data displays a higher holding share of long-term government bonds. Adding uncertain labor …