Economics Commons^™

Effectiveness Of Monetary Policy Communication: Evidence From Textual Analysis Of Daily Newspaper Articles, Bisrat Abebe Woldesilassie

Dissertations

Monetary policy communication has become a crucial tool for central banks to shape market expectations and enhance transparency. The goal of this paper is to measure how effectively the Fed communicates monetary policy through FOMC minutes by analyzing the impact of the release of FOMC minutes on financial markets through textual sentiment analysis of daily newspaper articles. I measure the surprise in the daily news sentiment that is caused by FOMC minutes release. The surprise in the sentiment is calculated as the change in the news sentiment that is measured over three weeks prior to the release of the FOMC …

University Athletic Subsidies Connections To Various Campus-Wide Outcomes, Daniel Vainner

Dissertations

This study examines the relationship between university athletic subsidies and outcomes for the broader undergraduate student population. The athletic subsidy, referred to as an athletic tax, is defined as institutional and student fees used to support athletics. Although athletics are often viewed as enhancing institutional prestige and recruitment, most universities depend heavily on subsidies to sustain their programs. In 2019, National Collegiate Athletic Association (NCAA) institutions spent over $18.8 billion on athletics, with $8.3 billion, or 44 percent, coming from institutional and student sources rather than athletic revenue (NCAA, 2019a). This research explores whether such subsidization predicts measurable differences in …

Pension Participation Among Different Migrant Groups In China: Job Type, Regional Disparities, And Cross-Provincial Mobility, Boxia Xu

Dissertations

As China undergoes rapid economic transformation and urbanization, the migrant population has grown significantly. Although migrants play essential roles in the labor market, they face persistent structural barriers to pension access. Regional disparities, occupational segmentation, and cross-provincial mobility constraints affect the probability of their pension participation. While policy efforts aim to expand coverage, the fragmented nature of China’s pension system continues to hinder equitable access for migrants. As a result, ensuring pension participation among migrant groups remains a pressing challenge.

Using data from the 2014 China Migrants Dynamic Survey (CMDS), this dissertation employs logistic regression models to investigate how job …

Who Needs More Than 1 Water Bottle? Apparently, Everyone., Jazmyn Weddig

Honors Theses

This research investigates the interplay between a good’s functional durability, and its collectability, focusing on the Stanley Quencher water bottle market as a case in point, which has recently gained widespread consumer interest. It examines the economic and psychological factors driving consumer behavior and the market dynamics associated with durable goods that become collectibles. This paper begins with a comprehensive analysis of Stanley and the history of the company to provide a better understanding of their evolving marketing strategies. This paper takes special interest in collecting behavior, planned obsolescence, market structures and economic utility to help explain consumer behavior within …

Three Essays On Financial Economics And Monetary Policy, Kumadebis Tamiru Gemechu

Dissertations

This dissertation comprises three independent essays that contribute to understanding the impacts of monetary policy announcements on financial markets and the banking industry.

The first essay studies a natural language analysis of FOMC statements to identify monetary policy and its effects on financial markets. Using structural topic modeling, in the first essay I identify three dimensions of Fed monetary policy announcements: inflation outlook, state of the economy, and policy stance factors. This article focuses on the qualitative information released by the Fed through the FOMC statement, which has previously been overlooked in favor of quantitative communication such as the Green …

American And German Environmental Policy: Differences In Institution Building Between The Great Lakes And Lake Constance, Thomas Johnson

Honors Theses

When it comes to the protection of water sources, the relationships between stakeholders around the Great Lakes region and the Lake Constance region differ remarkably. This is due to a variety of different reasons, the biggest reason being the major differences between the political norms of these two areas. During the 1960’s and 1970’s the relations between America and Canada and their respective ecological coalition groups were very different from those between Germany, Switzerland, Austria and their coalition groups. These differences resulted in a distinct evolution in the formation and handling of Transnational Advocacy Coalitions, or parapublic institutions, in the …

The Impact Of Rural-Urban Migration On The Pension System In China, Boxia Xu

Waldo Library Student Exhibits

This research examines the influence of rural-urban migration on China's pension insurance system. China's urban-rural structure is rapidly transforming. Consequently, the migration of populations from rural to urban areas has significantly impacted the social security system, especially the pension insurance system. This study analyzes data from 141,456 respondents using a binomial logistic regression model to explore the key factors influencing individual participation in pension insurance for the urban working group. The results indicate that education level, income, employment status, workplace, and residential area significantly affect pension insurance participation. Notably, an increase in education and income levels, as well as residing …

Dollarization In Latin America, Chloe Wieber

Honors Theses

Dollarization occurs when a country uses the US dollar or other foreign currency alongside or in place of the country’s domestic currency. This research seeks to understand the reasons countries dollarize and analyzes the extent that formal dollarization affects the economic wellbeing of dollarized countries in Latin America. The use of the US dollar is considerable in Latin America with Panama, Ecuador, and El Salvador being formally dollarized, and with Argentina currently considering formally adopting the US dollar. Using difference-in-difference techniques, I analyze the impact of dollarization on economic agents’ perceptions of the economy, on economic growth, and on inflation …

Impact Of Snap On Food Insecurity: A Michigan And Indiana Case Study, Cecelia Chapleau

Honors Theses

Food insecurity is one of the most pervasive and concerning problems in the United States. Approximately 1 in every 13 households within the United States was food insecure at some point during 2022 (Rabbitt et al., 2023) Food insecurity occurs when households have a limited ability to access nutritious foods, there is a limited supply of safe, healthy foods, or they are unable to obtain food in socially acceptable ways (Anderson, 1990). Low food security is associated with adverse health outcomes like type 2 diabetes, cardiovascular disease, and poor mental health, which contributes to the severity of the problem (Thomas …

Three Essays On Fertility Rates In China, Lichun Cai

Dissertations

China is currently facing the issue of low fertility rates. In three chapters, I discuss the reasons for the low fertility rate in China from three different microeconomics perspectives, by using econometric methods including machine learning tools.

Chapter One considers the effects of income on fertility rate. There is a widely accepted view that the improvement of the education level has led to a decline in fertility. I critique this view and propose a new perspective: the childbirth choice of a family member is not only related to the education level, but also to the differences in education level between …

Which Side (Of The Balance Sheet) Are You On? Household Financial Resources And Participation In The 2020 Protests, Selina Miller, Stephen Roll, C.Taylor Brown, Laura Brugger, Michal Grinstein-Weiss

The Journal of Sociology & Social Welfare

The summer of 2020 was marked by widespread protests. Though research has often examined the predictors of protest participation, there exists little work examining the relationship between different types of wealth and protesting. Drawing on resource-based theories of protest participation and asset-based theories of civic engagement, we constructed regression models disentangling relationships between income, liquid assets, investment assets, homeownership, and protesting. Using a national survey administered during the protests, we find that liquid assets are negatively associated, homeownership is positively associated, and investment assets exhibit a non-linear association with protesting. These relationships hold when controlling for income, demographics, and ideology, …

Clearing The Hurdles: Examining The Development Of High-Speed Rail Systems In The United States Of America, Shanice Tan

Honors Theses

In today’s world where globalization is rapidly growing, the role of an effective transportation system is crucial for societal and economic advancement. Among the various modes of travel, high-speed rail has emerged as a transformative force, reshaping the landscape of intercity connectivity, economic progress, and environmental sustainability. You would expect that the United States, as one of the most developed countries in the world, would have huge advancements in their high-speed rail systems for better travel choices and improved mobility for their citizens. However, it is found that the United States only has two high-speed rails currently operating and two …

Behavioral Economic Factors In Collective Bargaining, Cristal Cardoso Sao Mateus Cardoso Sao Mateus

Masters Theses

The present study evaluated the effects of delay, stake, and hypothetical group size on labor valuation in the context of increasing and decreasing labor demand. Challenges in collective bargaining are associated with work stoppages, which can cause economic losses, lack of service, and worker stress. Participants were asked to value their labor given a set of conditions in two experiments. Participants in experiment 1 (n = 49) valued their labor in both increasing and decreasing demand context. Conversely, participants in experiment 2 (n = 139) valued their labor in only one of the contexts. Delay to changes, stake size, and …

Three Essays On International Migration And Remittances, Mir Tanzim Nur Angkur

Dissertations

This dissertation concerns the effects of international migration and remittances. The study explores two pressing issues: child marriages and livelihood strategies and how the receipts of remittances from abroad influence these outcomes. The research objectives and findings of each of the three essays is summarized below:

The first essay, titled “ Do remittances protect against child marriages? The Rohingyas in Bangladesh”, focuses on the role that remittances could play in combating this harmful practice among the displaced Rohingya population. Nearly one million Rohingya refugees have been living in one of the world’s largest refugee camp in Cox’s Bazar, Bangladesh. I …

Three Essays On Work And Marital Satisfaction In China, Peng Luo

Dissertations

This dissertation comprises three research papers that delve into the relationship between the work characteristics of married Chinese employees and their individual satisfaction in both marriage and work. A common feature of these papers is the meticulous pairing of data, which ensures that each observation includes vital information about their respective spouses. This dataset allows me to conduct a comprehensive exploration of how spouses' work attributes influence individuals.

The first paper employs cross-sectional data to study whether how spouses met through work, and differences in their respective industries are related to their marital satisfaction. The results reveal that how spouses …

A Gis And Economic Analysis Into Solar Electricity Generation Siting Within The Greater Kalamazoo Area, Devon Kelly

Honors Theses

The recently passed Inflation Reduction Act (IRA) contains a significant number of incentives, both grants and loans, for state and local governments to institute clean energy-related projects. As such, and to aid in the development of decision-making support tools for solar investments in the City of Kalamazoo, this research contains a ground-mounted solar project suitability map with an additional development siting potential map for the municipal government of Kalamazoo. The main purpose of this study is to evaluate the feasibility and specific parcel-by-parcel siting potential of land for the construction of solar projects in the Kalamazoo Area. In doing so, …

Assessment Of Industrial Policies In Ghana: A Case Study On The Current Policy Of One District One Factory Policy (1d1f), Ama Nyamekye Obenewa Otoo

Masters Theses

Industrialization has been the weakest link in Ghana’s economic development efforts. Import-substitution industrialization policy of the 1960s-1980s and the outward liberalized industrialization policy of 1990-2020 (Vision 2020), have failed to achieve the goals of industrialization. This is due to several reasons including the selfish interests of these political leaders and lack of technological advancement. In 2017, the elected New Patriotic Party (NPP), announced a new industrialization policy known as “one district, one factory" (1D1F), which was a political campaign promise to realign industrial strategies. The goal of this policy is to ensure that industries are spread equitably among the country's …

Three Essays On Financial Economics, Megersa Daksa

Dissertations

This study presents three essays on financial economics. In the first essay, we examine how monetary policy shocks affect risk aversion and uncertainty, as well as how risk aversion and uncertainty spread across financial markets. Although a recent study shows that monetary policy influences risk aversion and uncertainty in global stock markets, there are no studies on risk aversion and uncertainty spillover across stock, currency, and commodity markets. Following the method of Bekaert et al. (2013), we decompose the implied volatility indexes (VIX's) for the SP500, U.S. exchange rate, gold and crude oil into risk aversion and uncertainty. The decomposition …

Three Essays In The Economics Of Education, Md Ohiul Islam

Dissertations

This dissertation explores three distinct topics in the economics of education. These topics explore the relationship between factors such as race, gender, national origin, and educational and labor market outcomes. Educational attainment in the STEM (Science, Technology, Engineering, and Mathematics) areas receives a major focus in this dissertation; a college-level specialization in STEM areas generally leads to high incomeyielding career tracks. Below I briefly explain the research objectives and findings of each chapter.

The first chapter focuses on the impact of teacher-student demographic mismatch on student success in classrooms at the high school level. When students, particularly those of disadvantaged …

The Effects Of Cost, Level Of Safety, And Severity Of Injury On Manager Decisions To Implement A Safety Solution, Jonathan M. Hochmuth

Dissertations

Workplace injuries continue to be a source of substantial human and financial costs each year. Behavioral safety processes have been effective in reducing workplace injuries by increasing safety-related behaviors. In recent years, the focus in behavioral safety has shifted towards the role of managers in establishing and maintaining safe behaviors and conditions in the workplace. Understanding how managers make decisions to allocate resources is critical to improving safety. The field of behavioral economics has developed methods for studying decision-making. While there have been calls to apply these methods to occupational safety, there are only two empirical studies which have done …

Essays On Bitcoin And Cryptocurrencies, Jiasong Wu

Dissertations

Bitcoin and cryptocurrencies, invented as potential digital international currencies, have gradually drawn more and more attention since their birth. The growing popularity of cryptocurrencies in the past decade and the recent acceptance of Bitcoin as legal tender in El Salvador suggests that there is growing acceptance of these instruments and that cryptocurrencies are here to stay. Among these cryptocurrencies, Bitcoin has a unique place being the first and most well-known cryptocurrency in terms of price, market capitalization, and trading volume.

The first two essays of this dissertation focus on Bitcoin and the third essay focuses on the cryptocurrency market in …

Essays On The Impacts Of Extreme Natural Events On Health, Moumita Ghorai

Dissertations

This dissertation comprises three chapters that examine how extreme events impact health outcomes such as short-term illness, body mass index, probability of pre-term birth, and mortality. The study reveals the severe consequences of these events and shows that certain groups within a particular country are affected disproportionately.

The first chapter examines whether National Rural Employment Guarantee Scheme (NREGS), India’s flagship workfare program, mitigates adverse health outcomes of a drought. This paper contributes to a growing area of research on adaptations to climate change. Using Indian Human Development Survey (2004-2005 and 2010-2011), a nationally representative panel data set, and high resolution …

The Macroeconomic Impacts Of Entitlements, Ateeb Akhter Shah Syed, Kaneez Fatima, Riffat Naseer

The Hilltop Review

The worries expressed by Alan Greenspan that the long run economic growth of the United States will fade away due to increasing burden of entitlements motivated us to empirically investigate the impact of entitlements of key macroeconomic variables. To examine this contemporary issue, we estimate a vector error-correction model to analyze the impact of entitlements on the price level, real output, and the long-term interest rate. The results show that a shock to entitlements leads to decrease in output and lends support to the assertion made by Alan Greenspan. Several robustness checks verify that the results remain unchanged qualitatively.

The Asymmetric Effect Of Sentiment On Equity Returns, Mishal Ahmed

Dissertations

In the first chapter titled “The Asymmetric Effect of Sentiment on U.S. Equity Returns”, we test the asymmetric impact of investor sentiment, proxied by the Baker-Wurgler (2007) investor sentiment index, on expected stock returns in the U.S. We regress sentiment on market and economy-wide fundamentals, use the residuals as a measure of excess sentiment and estimate long-horizon return regressions using positive and negative components of excess sentiment as predictors. We hypothesize that excessive optimism leads investors to make significant portfolio changes whereas excessive pessimism makes investors more cautious about investing, due to loss aversion. Primary results confirm our hypothesis with …

An Examination Of Types Of Health Insurance And The Reported Prevalence Of Autism In The United States, Jennifer L. Thompson

Dissertations

The prevalence of Autism Spectrum Disorders continues to rise despite barriers of changes to diagnostic criteria and lack of insurance coverage. Increases in prevalence affect costs associated with a disorder since cost of health care services are often estimated based on utilization of services. This can also affect an individual’s ability to access to health care services. To equitably distribute autism services to individuals an accurate estimation of the true prevalence of autism is needed.

Access to health care can be influenced by the type of insurance coverage a person holds. Other factors, such as socio-economic status, ethnicity, location of …

Three Essays On Quantitative Easing Policy, Daniel Abraham Mengistu

Dissertations

The main objective of these three essays is to examine the impact of quantitative easing (QE) policies on macroeconomic indicators. The first essay focuses on the cross-border effect of U.S. QE shocks in Latin America, while the second and third essays focus on the effects of Japan’s QE policies on consumer and stock prices. In the first essay, I examine the global impacts of U.S. QE shocks on output and inflation in Latin American countries through trade linkages. It presents a monthly global model that combines individual country vector error-correction models in which domestic (endogenous) variables are related to the …

Three Essays On The Relationship Between Policy Uncertainty And Foreign Direct Investment, Chikezie Kenneth Okoli

Dissertations

Foreign direct investment (FDI) occurs when an entity in one country establishes a significant degree of ownership in an enterprise in another country. FDI is a critical component in ensuring the development of any economy. It often aids with the development of an industry or sector within an economy by bringing in capital, new technologies, manufacturing methodologies, and managing expertise to the receiving country. This dissertation examines the relationship between policy uncertainty and foreign direct investment (FDI) in developed economies.

The first essay focuses on U.S. policy uncertainty and its effects on U.S. FDI inflows, while the second essay focuses …

Analysis Of Demand Under Time And Quantity Restriction Frames, Haily K. Traxler

Dissertations

For decades, behavioral economists and behavior analysts have borrowed techniques from one another to investigate human decision making. While there has been little overlap in their work, the union of the two may help to answer important questions about behavior. An emerging behavioral economic topic of interest in the behavior analytic literature is the analysis of how framing affects demand. The purpose of the present studies is to investigate some conditions under which demand is affected by framing and provide a behavior analytic interpretation of those effects. To assess the effects of framing, demand for marketplace items was assessed under …

Applied Microeconomics And Business Intelligence In The Digital Age, Thomas J. Weinandy

Dissertations

The Digital Age is defined by advances in big data, low-cost computing, and modern analytical methods. In three chapters, I apply microeconomic thought to the influence these digital technologies have on business and consumer decision-making.

Chapter One considers how Transportation Network Companies (TNCs) like Uber and Lyft impact the relationship between the quantity of car service trips and fuel prices. I find that a single day 1% increase in fuel prices is associated with a 0.367 to 0.486% decrease in the number of TNC trips and a 0.033 to 0.088% increase in the number of taxi trips, even though the …

Behavioral Economic Modeling Of The Effects Of Symptom, Severity, And Cost On Seeking Medical Care, Mark J. Rzeszutek

Dissertations

While the United States has some of the highest healthcare spending in the world, it has some of the worst health outcomes. For example, maternal mortality in the United States is almost five times as high as in other similarly wealthy countries. It also has the highest rates of avoidable deaths. One of the reasons for this may be the cost of accessing healthcare due to privatized insurance. For example, Americans may avoid important preventive medical visits and other health screeners due to cost. While lack of health insurance has been correlated with decreased health utilization, a precise understanding of …