Economics Commons^™

Measuring The Exorbitant Privilege: A Unified Estimate Of The Financial Benefits Of Dollar Dominance, 1976–2024, Carson T. Weeks

Honors Theses

This paper constructs a unified annual time series of the major measurable components of the United States' exorbitant privilege from 1976 to 2024. Drawing on established econometric estimates from the literature, it measures three channels through which the international role of the dollar generates financial benefits for the United States: seigniorage from foreign holdings of physical currency, borrowing cost savings on federal debt arising from reserve-driven demand for Treasuries, and the return differential on the U.S. external balance sheet, covering both public and private holdings. All dollar figures are reported in real 2024 dollars, deflated by the Consumer Price Index. …

Controlling Fiscal Destiny: Evaluating The Effect Of State Tax Composition On Resilience During Defined Shock Period, Calloway R. Bills

Honors Theses

State governments operate under strict fiscal constraints that limit their ability to respond to economic downturns through borrowing or monetary policy, making tax composition a key determinant of fiscal stability. This paper evaluates how variation in state tax revenue composition affects fiscal resilience during economic shocks, focusing on the Great Recession. While prior research shows that individual tax instruments differ in cyclicality, less is known about how overall tax structure shapes revenue performance during and after shocks. Using a panel dataset of U.S. states from 1988 to 2024, this study measures resilience through two outcomes: the magnitude of revenue decline …

Perception Of Asset Price Bubbles In Graphical Data, Cooper P. Vining

Honors Theses

This thesis studies how individuals judge asset price paths and bubbles from graphical data. It primarily investigates whether individuals can differentiate simulated asset price paths that are generated from pure random walks, and graphs that have a bubble element. This question is important because inventors and ordinary people often interpret price paths visually.

To test this, the project creates simulated asset price paths using random walks and bubble multipliers. The survey has four types of graphs: pure random walks, random walks with a 25% bubble, random walks with a 50% bubble, and random walks with a 75% bubble. The graphs …

Empirical Results From The Eliminations Of Municipal Minimum Parking Requirements, David A. Griffith

Honors Theses

Minimum Parking Requirements (MPR) are municipal zoning ordinances mandating a set number of off-street parking spaces for new developments. Since the 1950s, MPR has been the near-universal way American municipalities supply parking, though growing criticisms since the late 1990s have targeted the policy for distorting development patterns, imposing high costs, and subsidizing personal vehicle use. Beginning in the early 2010s and increasingly in the early 2020s, cities and counties across the United States have moved to reform or eliminate MPR. This paper is the first empirical study of the economic effects of these removals. Using a two-way fixed-effects difference-in-differences OLS …

Exploring The Impact Of Poverty On Financial Literacy: The Role Of Parental Education In College Student Financial Behavior, Zoe Williams

Honors Theses

Many college students experience financial stress, yet financial hardship is often explained as a simple lack of financial knowledge. Recent research suggests that how students are socialized around money may matter just as much as what they know. In this study, I examined whether parental education, specifically first-generation college status, changes the relationship between household income and financial health among undergraduate students at a regional public university in the southeastern United States. Participants included 204 undergraduates recruited through the university research pool. Students reported household income (categorized as < $50,000 or >$50,000), first-generation status, and financial behaviors. Financial literacy was measured using an …

Red, White, And Broke: A Call For Accountability In Government, Mary A. Scott

Honors Theses

This study examines the scale of waste, fraud, and abuse in U.S. federal spending. The purpose of this research is to clarify how fiscal management in the federal government is intended to operate versus how it actually functions. Using a combination of conceptual analysis, existing literature, case-based evidence, and data analysis, findings suggest that the persistence of oversight failures arises from weak implementation, limited enforcement authority of oversight bodies, and an emphasis on recovery rather than prevention practices. This study contributes to the broader discussion of public finance by providing an accessible framework to understand why the foundational federal principle …

Environmental Degradation And Food Systems In Ghana: Gold Mining And Synthetic Pesticides, Da'mirah Vinson

Honors Theses

This research examines the relationship between environmental degradation and food systems in Ghana. Although sociological research has explored how extractive practices like gold mining dispossesses farmers of land (Gilbert and Albert 2016; Agariga 2021; Kwang and Blagogie 2025), the consequences for food sovereignty and security remain understudied. Research that considers food and land from a sociocultural perspective is even more limited. My research addresses these gaps by asking: How do environmental degradation practices—specifically gold mining and chemical use—affect food production, distribution, and security in Ghana? And how does the decline of arable land reshape cultural food identity? To explore these …

Near And Dear: How Proximity To Amenities Shapes Land Value In Maine, William Kopans

Honors Theses

Residential land values reflect the benefits of accessibility to amenities as well as the costs associated with commercial activity. This trade-off is particularly important in Maine, a predominantly rural state where most households rely on automobiles to access employment, retail, and civic amenities. Drawing on hedonic theory, I analyze how households value proximity to public and private amenities located within downtowns and shopping centers. Using parcel-level transaction data from ATTOM combined with amenity data from OpenStreetMap, I construct a novel approach that differentiates downtown and shopping center clusters across the state. The findings demonstrate that properties located immediately adjacent to …

Pay Gaps At The Top: How Ceo–Executive Compensation Disparity Affect Firm Performance, Anh Que Diep

Honors Theses

This paper examines the relationship between executive compensation disparity and firm performance using S&P 500 firms. CEO Pay Slice (CPS) is used to measure pay disparity, and firm performance is measured by Tobin’s Q and ROA. The results from fixed effects models show an inverted U-shaped relationship between CPS and firm performance, with performance maximized at approximately a 60% CEO Pay Slice. Further analysis decomposes CPS into fixed and performance-based components. The results show that fixed compensation disparity is positively and consistently associated with firm performance, while performance-based disparity has weaker and less robust effects. Taken together, the findings suggest …

From Shock To Routine: The Evolving Impact Of Shutdown-Related Sentiment On Stock Markets, Yiran Shao

Honors Theses

To address gaps in existing research, this paper selects two U.S. government shutdown periods, 2018-2019 and 2025, as research samples to explore the effect of policy uncertainty on sentiment. This paper primarily analyzes the following two research questions.

First, what is the correlation between government shutdown-related sentiment during the shutdown period and daily market fluctuations? Specifically, can the sentiment index constructed from shutdown-related news effectively predict the next-day stock return during the event period?

Second, does the market have a learning effect? That is, between 2018-2019 and 2025, has the relationship between shutdown-related emotions and market outcomes weakened, shortened the …

Borrowing By Committee: An Analysis Of The Link Between Government Type And Sovereign Debt, René Polanco

Honors Theses

Previous literature is divided about the impact of democracy on sovereign debt. In the context of the third wave of autocratization (Lührmann & Lindberg, 2019), this paper uses a new dataset (the Episodes of Regime Transformation) focused on regime transitions to analyze the impact of democracy and regime change on the levels of sovereign debt for a panel of 167 nations between 2008 and 2024. I examine how democracy impacts debt level, borrowing, and debt service and dovetail these results with analogous ones regarding how states of transition impact the same measures. By including this extra wrinkle of government transition, …

Mechanisms Driving Disparities In Income Mobility Across The Income Distribution, Joe Larkins

Honors Theses

This study examines intergenerational income persistence across the income distribution, testing whether mechanisms driving inequality differ between families in the top and bottom halves of the income distribution. Using data from the National Education Longitudinal Study of 1988 (NELS:88), a nationally representative longitudinal survey of 8th grade students and their parents, this research estimates an interaction model comparing parental income effects for children in advantaged versus disadvantaged economic circumstances. The analysis reveals that a $1,000 increase in parental income yields eight times greater income gains for children in the bottom half of the distribution compared to those in the top …

Barriers To Immunity: Understanding Covid-19 Vaccine Uptake In Africa, Emilia Blechschmidt

Honors Theses

This thesis examines the factors influencing COVID-19 vaccine uptake across African countries, with a focus on structural, informational, and behavioral barriers to immunization. Drawing on cross-country data, the study analyzes how access to transportation, reliable information, and healthcare resources shape vaccination rates, alongside the effect of demographics and institutional factors in shaping individual perceptions of risk and vaccine safety.

The findings emphasize that the broader strength and preparedness of national health systems strongly influence vaccine uptake. Countries that demonstrated higher coverage of routine childhood immunizations, such as polio and hepatitis B, also tended to perform better in COVID-19 uptake efficiency …

Interpreting Legal Standards Of Proof: An Experimental Study Of Probabilistic Decision-Making, Hayley Leopold

Honors Theses

Legal standards of proof play a central role in structuring decision-making under uncertainty, yet they are typically communicated using qualitative language rather than precise probabilities. This raises an important question: how do individuals interpret and apply these standards when making decisions based on probabilistic evidence? This study examines whether individuals apply legal standards of proof in a manner consistent with their commonly associated probabilistic thresholds, and whether quantification and incentives improve alignment with normative decision-making.

To address these questions, I conducted a controlled behavioral experiment in which participants made legal-style decisions under uncertainty. Participants were assigned roles in a simplified …

Education And The Maternal Childcare Gap: Evidence From The Uk Covid-19 Pandemic, Lara Bakhaya

Honors Theses

This paper examines whether college education shapes working mothers’ access to remote work, flexible working, and childcare hours in the United Kingdom, and whether COVID-19 school closures amplified these inequalities. Using data from the UK Time Use Survey (2016–2021), a repeated cross-sectional diary dataset spanning the pre-pandemic period and five COVID-19 waves, this paper estimates weighted logistic and ordinary least squares regressions on a sample of married or cohabiting, employed mothers. School closures serve as a natural experiment, providing an exogenous shock to caregiving demands that affected all mothers simultaneously regardless of education level. College education significantly predicted working from …

Spillover Effects Of Medicare Advantage On Fee-For-Service Post-Acute Care Spending, Nyel Bangash

Honors Theses

Does the growth of Medicare Advantage reduce fee-for-service post-acute care spending through practice-pattern spillovers, or do observed spending differences primarily reflect favorable selection? Using a county-level panel of roughly 2,700 counties (2014–2023) and a two-way fixed effects specification, I find that a one percentage-point increase in MA penetration is associated with $9.54 less per-capita standardized FFS spending. Spending per episode falls while participation rates remain stable, consistent with practice-pattern spillovers rather than compositional changes from selection. Welfare indicators from County Health Rankings, CDC PLACES, and CMS Care Compare show no evidence that spending reductions harm health or care quality. The …

The Market Signal Of Climate Risk: Examining Disaster-Linked Insurance Costs And Home Values, Anika Donohue

Honors Theses

As natural disasters increase in frequency, the resulting rise in insurance premiums threatens a systemic housing affordability crisis across the United States. Leveraging a unique private insurance market dataset, this paper investigates the capitalization of rising premiums into home values and the resulting impact on housing affordability and underinsurance levels. Focusing on the impacts of Hurricane Florence (2018) in North Carolina, I employ a Difference-in-Differences framework to separately analyze the impacts of storm severity on property values and insurance premiums. I find that while property values decrease in proportion to storm severity, functioning as a primary risk signal, insurance premiums …

Mnes Vs. Local Firms’ Resilience To Global Shocks: Evidence From The 2008 Financial Crisis And Covid-19, Yijie Wang

Honors Theses

This thesis examines whether multinational enterprises (MNEs) are more resilient than domestic firms during major global shocks, using the 2008 Financial Crisis and COVID-19 as case studies. Although MNEs may benefit from diversification, internal capital markets, and foreign linkages, they may also face greater exposure to global demand shrinkage and supplychain disruption.

Using Compustat North America firm-level panel data from WRDS, this study analyzes publicly listed U.S. and Canadian firms across 2007–2013 and 2018–2024. Firm resilience is measured through net sales, net income, and gross profit using a two-way fixed effects panel model. Multinational status is identified through two different …

Learning Rules Under Asymmetric Information: A Cournot Market Experiment, Marshall H. Pentes

Honors Theses

I present the use of best response (BR) and imitation (IM) learning rules in experimental Cournot duopoly markets under asymmetric information. In treatment BR, one subject (called BR1) receives, after every round, information about their previous quantity choices, the previous market prices, their previous profits, the previous quantities of the the other firm in the market, and the previous Cournot best response to the quantity of the other firm. In treatment IM, one subject (called IM1) receives, after every round, information about the prior quantities of and profits of both firms in the market. The BR1 and IM1 subjects are …

Accountability And Efficiency: Compiled Case Studies On Economic Development, Spending, And Global Markets, Jacob W. Grimsley

Honors Theses

This is a compilation of cases worked throughout the course of one year. These cases were created and assigned for an accountancy course focused on research and writing. The cases focus on accounting related topics, while also pertaining to political happenings as well as general economic topics.

Case 02 was completed in collaboration with other honors students, and these students are indicated on the page preceding this case.

Cases 05 and 06 pertain to a semester-long project focused on the development of a Mississippi based business. This case was also completed with the help of other students, as indicated on …

From Fraud To Future: Accountancy Case Studies On Financial Illusions, Policy Failures, And The Economic Renaissance Of Mississippi’S Broadband Initiative, Hayden Brennan Adams

Honors Theses

This Honors Practicum is a compilation of case studies completed under the supervision of Dr. Victoria Dickenson across two semesters of the course Accountancy 420 — Independent Study. The first semester (Fall 2023) of case studies involved both individual and group case studies examining various geopolitical implications of contemporary accounting, as well as the surge in environmental, social, and governance (ESG) regulations affecting financial reporting. The second semester (Spring 2024) was mostly centered around a collaborative Mississippi economic development proposal project conducted by four other students and myself. In our project, we construct a business plan for a start-up broadband …

Asymmetric Recovery: Understanding The Differences In Commercial And Residential Recovery Patterns Following The 2008 Financial Crisis, Avery J. Flynn

Honors Theses

The 2008 financial crisis revealed differences in economic recovery patterns between businesses and households. This study analyzes the asymmetry in loan delinquency rates between commercial and residential sectors, with data showing commercial rates peaked at 8.51% in 2010 while residential rates reached 10.88%, followed by significantly different recovery trajectories.

The research investigates how differing legal protections created varying incentives to cut costs. Through analyzing Federal Reserve data, Census Bureau surveys, and expenditure records, this study found the commercial sector recovered 64% within three years of its peak, compared to only 17% for the residential sector.

During the recession, businesses reduced …

Economic Development In Cartersville, Ms: A Case Study Of A Non-Profit Organization's Community Development Projects, Mckenzie B. Perkins

Honors Theses

The Mississippi Delta Region has long faced significant economic, educational, and health challenges and a steady population decline since the 1940s. In response, community development projects have emerged as powerful tools to promote health, well-being, and social mobility. This thesis investigates the impact of community development initiatives in Cartersville, MS, focusing on the dental clinic, educational programs, and the economic development center established by a non-profit organization. Through the lens of community development theories, the research explores how community leadership, particularly partnerships between EverHope Ministries and Cartersville leaders, is pivotal in addressing health disparities in historically marginalized populations. By engaging …

Sexism In Syntax: Language And Its Relationship With Female Leadership, Kyle Rains

Honors Theses

Despite a global trend towards more equal gender representation, not every country has improved at the same pace or to the same level. This study investigates language as a potential tool for better understanding the differences between countries regarding the presence of female managers. By using language as a tool, I arrive at two primary results: (i) pronoun drop is significantly and inversely associated with the presence of female managers, but gendered language structures have little association, and (ii) a gender intensity index can produce misleading results. These results suggest that language structures, such as pronoun drop, which are associated …

The Impact Of Remittances On Children’S Educational Outcomes: The Case Of India, Neha Reddy Kalwala

Honors Theses

This paper investigates whether children in Indian households receiving more remittances have better educational outcomes. India is the world’s largest recipient of remittances and is characterized by a unique socioeco- nomic and demographic context that makes any educational improvements or disparities particularly impactful on global education metrics. Using panel data from the India Human Development Survey, I employ OLS and logit regressions with household fixed effects, a difference-in-differences strategy, and a Heckman selection model. Two measures of educational outcomes are analyzed: weekly hours spent at school and school enrollment. Findings suggest that an increase in remittances leads to a higher …

Evaluating Factors Of Coach Compensation In Ncaa Division I Fbs College Football, Ethan Vest

Honors Theses

This paper investigates the determinants of college football coach compensation, specifically examining whether individual coach characteristics or institutional characteristics play a greater role in compensation. Using six fixed effects regression models, I compare model performance using R-Squared, Adjusted R-Squared, Bayesian Information Criterion (BIC), Akaike Information Criterion (AIC), and subset F-tests. The results indicate that the school at which a coach is employed has a larger impact on compensation than individual identity. Further, lagged win percentage is found to be a significant variable on compensation, indicating that coaches negotiate their contracts in the off-season based on their performance in the previous …

The Impact Of Corporate Profits On Gdi Estimates: Forecasting And Data Revisions, Peterson Haas

Honors Theses

The National Income and Product Accounts (NIPAs) produced by the U.S. Bureau of Economic Analysis (BEA) provide key measures of U.S. economic activity, including gross domestic product (GDP) and gross domestic income (GDI). Although conceptually equivalent, GDP and GDI often diverge due to differences in source data and revision timing. This study focuses on corporate profits—a small but volatile component of GDI that is frequently revised, especially during the BEA’s annual (A1) and benchmark (C1) revisions. I examine how revisions to corporate profits influence GDI revisions and whether they can improve real-time estimates of GDI. First, I document the size …

Almost Last Again? Mississippi's Labor Force Participation Rate: Causes And Solutions, John Martin Fox

Honors Theses

Mississippi is currently ranked second to last in labor force participation rate in the country. This is the latest damning statistic inhibiting the state from growing and becoming a more nationally recognized state with higher economic output. This thesis examines how Mississippi arrived at this bleak labor force participation rate and what is currently ongoing to alleviate it. It also examines some possible proposed solutions to accelerate those efforts. Through extensive research and numerous interviews with officials from public and private sector employees directly dealing with this predicament, this thesis has assembled a thorough and comprehensive picture of how the …

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 …

The International Transracial Adoption Effect: Measuring The Well-Being Of Korean Adoptees Vs. Non-Adopted Korean Americans, Grace H. Jones

Honors Theses

In this study, I examine the differences in well-being and long-term outcomes between adopted and non-adopted Korean Americans. The vast majority of adopted Korean Americans are placed with white, heterosexual couples, positioning them in a unique position in American society. While they are raised in white families and often disconnected from Korean culture, they are still perceived and treated as Asian by society. Scholars refer to this tension as the transracial adoptee paradox. This study explores how that paradox affects both economic and non-economic outcomes. The analysis finds that adopted Koreans tend to earn higher incomes than their non-adopted peers, …