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Articles 241 - 270 of 686
Full-Text Articles in Economics
Economic Diversity And Regional Economic Performance: A Methodological Concern From Model Uncertainty, Jing Chen
Regional Research Institute Working Papers
Although the role of spatial dependence has been considered in studying the relationship between economic diversity and regional economic performance, the existing literature seldom mentions model uncertainty, which mainly arises from at least two sources. One source of model uncertainty is the choice of an appropriate spatial weight matrix that describes the spatial interactions between two regions, which can be specified in a variety of ways. The second source of model uncertainty is choosing a set of control variables to model the diversityperformance relationship. To overcome these limitations, a Bayesian Model Averaging (BMA) method is used to address model uncertainty …
Ecio Model Operators Guide, Randall Jackson, Péter Járosi
Ecio Model Operators Guide, Randall Jackson, Péter Járosi
Regional Research Institute Resource Documents
The National Energy Technology Laboratory (NETL)/ West Virginia University (WVU) Econometric Input-Output (ECIO) model is a time-series enabled hybrid econometric input-output (IO) model that combines the capabilities of econometric modeling with the strengths of IO modeling. The model was developed and designed specifically for estimating the income and employment impacts of the development and deployment of new energy technologies over a given forecast period. The ECIO model consists of a macroeconomic econometric model of the United States (U.S.) national economy and an inter-industry model that reflects the interdependence of all the industries in the economy. These two components have three …
Environmental Costs Of European Union Membership: A Structural Decomposition Analysis, Inácio Araúgo, Randall Jackson, Amir Borges Ferreira Neto, Fernando Perobelli
Environmental Costs Of European Union Membership: A Structural Decomposition Analysis, Inácio Araúgo, Randall Jackson, Amir Borges Ferreira Neto, Fernando Perobelli
Regional Research Institute Working Papers
The interest in this paper lies in the environmental costs of the European Union (EU). EU membership requires a series of economic and political changes that should impact the country’s production and consumption structures and its trade relationships. These, in turn, will affect CO2 emissions sources and levels. This is especially true for the former Soviet Union countries that recently joined the EU, given the difference in their levels of development and production structure. Using a structural decomposition analysis we are able to quantify the main drivers of changes in emissions differentiating six components, namely: emissions intensity, industrial structure and …
Interpreting Economic Diversity As The Presence Of Multiple Specializations, Jing Chen
Interpreting Economic Diversity As The Presence Of Multiple Specializations, Jing Chen
Regional Research Institute Working Papers
Conventional wisdom indicates that economic specialization can promote economic growth, whereas economic stability is theoretically associated with diversified economies. This conflicting relationship between specialization and diversity has been questioned, as regional scientists have suggested that specialization and diversity can coexist in a regional economy and proposed the concept of diversified specializations. To test this proposition empirically, three Herfindahl Hirschman Indices measuring regional economic diversity were used to examine the relationship between economic structure and regional economic performance among 359 metropolitan statistical areas (MSA) in the contiguous U.S. The first index measures economic diversity across 87 three-digit North American Industry Classification …
The Impact Of Naloxone Access Laws On Opioid Overdose Deaths In The U.S., Elham Erfanian, Alan R. Collins, Daniel Grossman
The Impact Of Naloxone Access Laws On Opioid Overdose Deaths In The U.S., Elham Erfanian, Alan R. Collins, Daniel Grossman
Regional Research Institute Working Papers
Opioid overdose is the leading cause of unintentional death in the U.S. Narcan TM (Naloxone) is a prescription medicine that can reverse overdose effects. This research investigates the effect of Naloxone access laws on overdose death rates using state and temporal variation in the enactment of these laws. We also explore possible spillover effects between Naloxone access laws and overdose death rates across states. Our analyses reveal that when broken down by access law provisions, there exists a mixture of positive and negative effects on overdose death rates depending upon the provision. The results indicate that Naloxone access provisions have …
The Economic Impact Of Medicaid On West Virginia's Economy, Christiadi, John Deskins
The Economic Impact Of Medicaid On West Virginia's Economy, Christiadi, John Deskins
Bureau of Business & Economic Research
No abstract provided.
Overview Of Smart Manufacturing In West Virginia, Thorsten Wuest, Patrick Schmid, Brian Lego, Eric Bowen
Overview Of Smart Manufacturing In West Virginia, Thorsten Wuest, Patrick Schmid, Brian Lego, Eric Bowen
Bureau of Business & Economic Research
The manufacturing sector is currently reinventing itself by embracing the opportunities offered by the industrial internet, automation, and machine learning, just to name a few. This development is commonly referred to as the Fourth Industrial Revolution or Smart Manufacturing. While Smart Manufacturing can be observed around the globe, there are distinct differences in how it is adopted and embraced between countries, industries, and companies of different sizes. Small- and medium-sized manufacturers are generally understood as the backbone of the manufacturing sector. However, these manufacturers face specific challenges when it comes to the transition toward Smart Manufacturing. This report presents the …
The Economic Impact Of Natural Gas Capital Expenditures In West Virginia, Eric Bowen
The Economic Impact Of Natural Gas Capital Expenditures In West Virginia, Eric Bowen
Bureau of Business & Economic Research
No abstract provided.
Regional Industry Cluster Analysis For The Potomac Highlands In West Virginia, Jing Chen, Randall Jackson
Regional Industry Cluster Analysis For The Potomac Highlands In West Virginia, Jing Chen, Randall Jackson
Regional Research Institute Resource Documents
No abstract provided.
The Economic Impacts And Risks Associated With Electric Power Generation In Appalachia, Eric Bowen, Christiadi, Rebecca J. Davis, John Deskins, Charles Sims
The Economic Impacts And Risks Associated With Electric Power Generation In Appalachia, Eric Bowen, Christiadi, Rebecca J. Davis, John Deskins, Charles Sims
Appalachian Coal Industry Ecosystem
This report provides a detailed examination of the economic impacts of changes in electric power generation in Appalachia between 2005 and 2015. It finds that while coal represented around 74 percent of total electric generation in Appalachia in 2005, that percentage dropped to 53 percent in 2015. However, despite this decline, Appalachia remains more dependent on coal for electricity generation when compared with the rest of the country. This report also offers a risk factor analysis for coal-fired generation retirements and repowerings, and notes that coal prices have little influence on coal-fired power plant retirement decisions.
Data File 1, West Virginia University, University Of Tennessee, Knoxville
Data File 1, West Virginia University, University Of Tennessee, Knoxville
Appalachian Coal Industry Ecosystem
This file provides information on the counties identified as Vulnerable, Hardship, or Depressed in the report County-level CIE Supply Chain Analysis, and the locations of power plant closures in the Appalachian Region between 2011 and 2015, as discussed in the report The Economic Impacts and Risks Associated with Electric Power Generation in Appalachia.
An Overview Of The Coal Economy In Appalachia, Eric Bowen, Christiadi, John Deskins, Brian Lego
An Overview Of The Coal Economy In Appalachia, Eric Bowen, Christiadi, John Deskins, Brian Lego
Appalachian Coal Industry Ecosystem
This report notes that coal production in the Appalachian Region fell nearly 45 percent between 2005 and 2015, more than double the rate of the national decline during the same period. It outlines how regional coal production losses intersect with regional data on employment and unemployment, population and labor force, income and poverty, and education and health in Appalachia’s subregions.
An Economic Analysis Of The Appalachian Coal Industry Ecosystem: Summary Report, Randall W. Jackson, Eric Bowen, Christiadi, John Deskins, Brian Lego, Péter Járosi, Mark L. Burton, Rebecca J. Davis, Charles Simms, Matthew Murray, Péter Schaeffer
An Economic Analysis Of The Appalachian Coal Industry Ecosystem: Summary Report, Randall W. Jackson, Eric Bowen, Christiadi, John Deskins, Brian Lego, Péter Járosi, Mark L. Burton, Rebecca J. Davis, Charles Simms, Matthew Murray, Péter Schaeffer
Appalachian Coal Industry Ecosystem
The decline in the demand for coal has led to significant negative impacts in areas throughout Appalachia. Consider the integrated effects across components of the coal industry ecosystem (CIE). As extraction activity is diminished, there are ripples through the industry supply chain that extends to a wide number of sectors, occupations, and county and multi-county regions of the Appalachian economy. As these suppliers are impacted, jobs are imperiled, and the fiscal health of communities i s weakened. Displaced workers will need to seek alternative employment opportunities that may entail investments in formal education and training, and this takes both time …
Human Capital And The Cie, Matthew Murray, Péter Schaeffer
Human Capital And The Cie, Matthew Murray, Péter Schaeffer
Appalachian Coal Industry Ecosystem
This report explores two economic issues in Appalachia: future employment prospects for coal workers and changes in funding for K–12 education. The first part of the report identifies occupations that may be affected by losses in the coal industry ecosystem and offers state-by-state analyses comparing these impacted occupations to similar occupations in other industries. These analyses suggest other industries where former coal industry workers might find alternative employment opportunities. The second part of the report discusses how the changing coal economy may be impacting public funding for K–12 education at the state and local levels. It finds declines in both …
Transportation Implications Of Coal, Mark L. Burton, David B. Clarke
Transportation Implications Of Coal, Mark L. Burton, David B. Clarke
Appalachian Coal Industry Ecosystem
This report describes the direct economic relationship between the coal and railroad industries in Appalachia. It finds that between 2015 and 2016, changing electric generation strategies—including accelerated coal-powered plant retirements—combined with a downturn in coal demand contributed to losses of nearly 2,000 full-time jobs and $150 million in income across Appalachia’s railroad sector.
County-Level Cie Supply Chain Analysis, Randall Jackson, Peter Jarosi
County-Level Cie Supply Chain Analysis, Randall Jackson, Peter Jarosi
Appalachian Coal Industry Ecosystem
This report examines the impact of the decline in coal production on supply chain industries at the county level across Appalachia. It offers, and uses, a typology to classify counties based on their dependence on the CIE, recent employment changes due to reduced coal production, and their risk for further impacts due to any future declines in the coal industry.
Towards A Rule-Based Model Of Human Choice: On The Nature Of Homo Constitutionalus, Roger Congleton
Towards A Rule-Based Model Of Human Choice: On The Nature Of Homo Constitutionalus, Roger Congleton
Economics Faculty Working Papers Series
Anglo-American jurisprudence emphasizes the rule of reason; it grossly neglects the reason of rules. We play socioeconomic-legal-political games that can be described empirically only by their rules. But most of us play without an understanding or ap-preciation of the rules, how they came into being, how they are enforced, how they can be changed, and most important, how they can be normatively evaluated. (Bren-nan and Buchanan, 1985, preface).
Costs And Benefits Of Building Faster Payment Systems: The Uk Experience, Claire Greene, Marc Rysman, Scott Schuh, Oz Shy
Costs And Benefits Of Building Faster Payment Systems: The Uk Experience, Claire Greene, Marc Rysman, Scott Schuh, Oz Shy
Economics Faculty Working Papers Series
: A number of countries have implemented faster payment services that allow consumers and businesses to rapidly transfer money between bank accounts. These services compete with slower, existing payment services. In 2008, the United Kingdom implemented its Faster Payments Service (FPS) at a cost of less than ₤200 million (.014 percent of U.K. GDP, or $307 million) spread over seven years, plus investment costs borne by each participating bank to connect to the FPS. This paper examines the economic cost-benefit analysis underlying the U.K. FPS investment decision and describes the subsequent diffusion and use of FPS through 2014.
A Test Of The Institutionally Induced Equilibrium Hypothesis: On The Limited Fiscal Impact Of Two Celebrity Governors, Roger D. Congleton, Yang Zhou
A Test Of The Institutionally Induced Equilibrium Hypothesis: On The Limited Fiscal Impact Of Two Celebrity Governors, Roger D. Congleton, Yang Zhou
Economics Faculty Working Papers Series
We test for the stabilizing effects of political institutions on fiscal policies by examining the impact of two unlikely governors on their state’s fiscal policies. Fiscal policies are joint products of executive and legislative decisions. These institutional factors tend to moderate the effect of changes in the chief executive, as does partisan competition for office. Jesse Ventura of Minnesota’s and Arnold Schwarzenegger of California were unique—surprise—governors of their respective states. Although both governors were arguably less constrained by partisan loyalties than most others, the other institutional factors would still tend to limit their impact on public policy. Our evidence suggests …
The Spatial Distribution Of Urban Consumer Service Firms: Evidence From Yelp Reviews, Brad Humphreys, Josh Matti
The Spatial Distribution Of Urban Consumer Service Firms: Evidence From Yelp Reviews, Brad Humphreys, Josh Matti
Economics Faculty Working Papers Series
A growing literature employs distance-based measures of localization to assess the spatial distribution of firms with a focus on manufacturing across a country. We analyze the spatial concentration of a variety of consumer services firms in the Phoenix, AZ area using geo-referenced Yelp data from over 29,000 establishments. Results from a K-density approach indicate substantial localization and service differentiation among localized firms. Firm concentration varies across service cost and quality; higher quality/cost establishments tend to cluster. Our results further understanding of the modern urban landscape as cities are increasingly centers of consumption.
Data File 2, West Virginia University, University Of Tennessee, Knoxville
Data File 2, West Virginia University, University Of Tennessee, Knoxville
Appalachian Coal Industry Ecosystem
This file contains information on whether a county is above or below the Appalachian median for the following measures: Dependence, Impact, and Risk. More detailed information is found in the report County-level CIE Supply Chain Analysis.
Confucius Institute's Effects On China's Higher Education Exports: A Perspective From Cultural Difference And Institutional Quality, Donald Lien, Feng Yao, Fan Zhang
Confucius Institute's Effects On China's Higher Education Exports: A Perspective From Cultural Difference And Institutional Quality, Donald Lien, Feng Yao, Fan Zhang
Economics Faculty Working Papers Series
This article uses a panel data of international student flows to China from 2000–2014 to investigate Confucius Institute (CI)’s effects on China’s educational service exports. We find that CI, as a comprehensive platform for promoting Chinese language and cultural exchange, has a significant positive effect on China’s education exports. The effects of CI on China’s education exports are transmitted through promoting Chinese language, bridging cultural gaps, and reducing psychic distance. We further find that the effects of CI on China’s education exports are heterogeneous, depending on the level of cultural difference and institutional quality in the host country. The effects …
Value Chains: Production Upstreamness And Downstreamness Revisited, Patricio Aroca, Randall Jackson
Value Chains: Production Upstreamness And Downstreamness Revisited, Patricio Aroca, Randall Jackson
Regional Research Institute Working Papers
Measures devised to quantify value chain position have been used increasingly in recent years. While the constructs underlying these measures are meaningful, this paper identifies an overlooked implementation problem. Proposed algorithms have been applied as though the underlying data represent flows. Implementation data are drawn from modern input-output accounting frameworks that recognize secondary production explicitly. Unadjusted Use matrices are not conventional flows matrices because they do not identify the industries from which commodities originate. We demonstrate logical inconsistencies that arise, provide correct flow matrix formulations for upstreamness and downstreamness measures, and present empirical comparisons of correct and incorrect formulations.
Rent-Seeking In The Classroom And Textbooks: Where Are We After 50 Years, Joshua C. Hall, Josh Matti, Yang Zhou
Rent-Seeking In The Classroom And Textbooks: Where Are We After 50 Years, Joshua C. Hall, Josh Matti, Yang Zhou
Economics Faculty Working Papers Series
No abstract provided.
Does The Asset Pricing Premium Reflect Asymmetric Or Incomplete Information?, Crocker H. Liu, Adam Nowak, Patrick S. Smith
Does The Asset Pricing Premium Reflect Asymmetric Or Incomplete Information?, Crocker H. Liu, Adam Nowak, Patrick S. Smith
Economics Faculty Working Papers Series
We develop a framework for using text as data in asset pricing models. We use the framework to test whether real estate agents exploit their informational advantage to sell properties they own for a premium. Consistent with the previous literature, baseline estimates that exclude textual information indicate agents sell their own house at a 3 to 4 percent premium in both Phoenix, AZ and Atlanta, GA. However, this premium dissipates when textual information is included. The results suggest that the baseline estimates suffer from an omitted variable bias, which previous studies incorrectly ascribe to market distortions associated with asymmetric information.
Evaluating Crime As A Negative Externality Of Hosting Mega-Events: Econometric Analysis Of The 2012 London Summer Olympics, Nicholas Le
Economics Faculty Working Papers Series
Analysis of the benefits and the drawbacks of hosting large-scale sporting events like the Olympics or World Cup frequently ignore the effects of crime due to its relatively small economic impact in comparison to employment and consumption effects. Literature has frequently tied sporting events and tourism to crime, in addition to observing proximity effects on crime during sporting events. This research seeks to confirm both by implementing a difference-in-difference regression that can show whether crime increased during the Olympics, in particular in London boroughs which hosted venues for the Games. Ultimately, the research concludes that crime in London as a …
Estimation Of A Partially Linear Regression In Triangular Systems, Xin Geng, Carlos Martins-Filho, Feng Yao
Estimation Of A Partially Linear Regression In Triangular Systems, Xin Geng, Carlos Martins-Filho, Feng Yao
Economics Faculty Working Papers Series
We propose kernel-based estimators for the components of a partially linear regression in a triangular system where endogenous regressors appear both in the linear and nonparametric components of the regression. Compared with other estimators currently available in the literature, e.g. the sieve estimators proposed in Ai and Chen (2003) or Otsu (2011), our estimators have explicit functional form and are much easier to implement. They rely on a set of assumptions introduced by Newey et al. (1999) that characterize what has become known as the “control function” approach for endogeneity in regression. We explore conditional moment restrictions that make this …
Geographical Scale, Industrial Diversity And Regional Economic Stability, Jing Chen
Geographical Scale, Industrial Diversity And Regional Economic Stability, Jing Chen
Regional Research Institute Working Papers
The empirical relationship between economic diversity and economic stability varies when it is measured at dfferent geographical scales. This paper evaluates the role of geographical scales in assessing this diversity-stability relationship among counties, states, Economic Areas (EAs), metropolitan counties and metropolitan statistical areas (MSAs) in the contiguous U.S. When choosing geographical units to analyze regional economic structure, it is necessary that the geographical units be large enough in population and employment to quantify effectively the regional economic structure. In addition, this paper proposes that geographical units also should be functionally aggregated regions as they better represent spatial interactions than formal …
The Effect Of Health Care Entrepreneurship On Local Health: The Case Of Medexpress In Appalachia, Amir Borges Ferreira Neto, Joshua C. Hall
The Effect Of Health Care Entrepreneurship On Local Health: The Case Of Medexpress In Appalachia, Amir Borges Ferreira Neto, Joshua C. Hall
Regional Research Institute Working Papers
We test the hypothesis that the opening of an Urgent Care Center (UCC) has positive impacts on the local community. There are several mechanisms through which a UCC can have an impact: lower health care costs, emergency room decongestion, and improved access to medical information. We examine the entry of MedExpress into Appalachian counties between 2001 and 2013. Employing data from Health Resources Files, which provides information for all counties for specific years, we use Propensity Score Matching to create a year 2000 control group for the counties “treated” by MedExpress entry beginning in 2001. We then employ a standard …
Professional Sports Events, Concerts, And Urban Place Based Policy: Evidence From The Staples Center, Iuliia Chikish, Brad R. Humphreys, Crocker H. Liu, Adam D. Nowak
Professional Sports Events, Concerts, And Urban Place Based Policy: Evidence From The Staples Center, Iuliia Chikish, Brad R. Humphreys, Crocker H. Liu, Adam D. Nowak
Economics Faculty Working Papers Series
We analyze the relationship between sports events and concerts, important hospitality demand drivers and key components of many urban renewal projects, in the Staples Center in Los Angeles, an arena home to three pro teams, and nearby hotel performance, exploiting exogenous daily variation in the timing of games and concerts from 2002 to 2017. Results show a small positive impact on revenue per available room at hotels within one mile of the arena and an osetting decrease at hotels located one to four miles away. Granting nearby hotels exemptions from Los Angeles hotel taxes reduces potential tourism-generated hotel tax revenue …