Economics Commons^™

The Predictive Power Of The Term Structure Under Unconventional Monetary Policies, Luying Yang

Honors Theses

Previous research has confirmed a positive relationship between the slope of the yield spread and future economic growth. Since the start of the Great Recession, a number of developed economies have hit the zero lower bound and adopted unconventional monetary policies such as large-scale bond/asset purchase programs and negative interest rate policies. This paper finds that the yield spread’s predictive power generally deteriorates after the central bank adopts its first bond purchase program. However, there is no general pattern of how these unconventional monetary policies impact the yield spread’s forecasting ability across countries.

The Effects Of Higher Education On Socioeconomic Mobility: A Comparative Analysis Of Outcomes At Bucknell University, Katrien Weemaes

Honors Theses

Income inequality and the lack of higher-education opportunities across the United States often correlate with families' socioeconomic status. In this honors thesis, the following questions will be examined: How does the social mobility of Bucknell Students compare with students from other national universities? How do a student’s race and financial aid status affect their ability to achieve social mobility? How has the rate of social mobility through Bucknell changed in recent years? How does a student’s current family socioeconomic status affect their ability to achieve high-income success upon graduation? Does the level of accessibility to Bucknell change when socioeconomic status …

Biking At Bucknell: The Evaluation Of The Built Environment, Societal Environment, And Individual Behavior And Attitudes In Relation To Biking At Bucknell University, Makenna Cerney

Honors Theses

A biking market in this thesis is defined by three major contributors: (a) the built environment such as the engineering and construction of bike lanes, parking corrals, and other aspects of the physical infrastructure for biking, (b) the societal environment which includes the norms and communal acceptance of biking, and (c) individual beliefs, behaviors and attitudes toward biking. These three areas form the foundation of the factors that stimulate the demand for biking in the biking market, which in turn drives the supply of biking and biking services. This thesis intends to conduct research on the built environment, societal environment, …

Mortgage Discrimination And District Manipulation: Deterrents To Minority Mobility, Megan M. Rice

Honors Theses

This paper explores the relationship between gerrymandering and home loan discrimination. Gerrymandering, the process of manipulating district plans for political gain, and discrimination in mortgage lending are both illegal; and yet, they still occur in today’s society. By using individual loan application data from the HMDA’s website, a series of regressions will be run using applicant characteristics to measure loan discrimination at the state level. Once a state level model has been constructed, a measure of gerrymandering called the Efficiency Gap will be added into the regression in order to explore the relationship between home loan discrimination and gerrymandering. Regression …

On The Basis Of Sex: Personal Status Law Reforms And Economic Growth, Kylie Bring

Honors Theses

The purpose of this thesis is to analyze how law reform toward gender equity has an impact on economic growth in Arab countries in the Middle East. Personal status law reform granting women economic, social, and personal freedoms is spreading across the region and showing substantial change. Using case studies of major PSL reforms in Tunisia and Morocco, this thesis outlines qualitative and quantitative evidence to support the case that gender equity benefits the economic growth of the given country.

Liberté, Égalité, Manifester: Explaining The Yellow Vest Movement In France, Brady L. Cole

Honors Theses

Les Gilets Jaunes, or the yellow vests, is a movement of protestors that have had a large presence in France since 2018. Beginning as an online petition against French President Emmanuel Macron’s fuel tax hike, the movement has quickly amassed several hundred thousand protestors in Paris and other cities across the country. It is the objective of this thesis to examine potential reasons why 300,000 people have felt the need to protest throughout France, apart from the now rescinded fuel tax.

To this end, a sample of data from the Varieties of Democracy database was selected. These variables covered various …

The Effect Of Revenue-Source Mix On Student Performance In Mississippi K-12 Public Schools, Sally Boswell

Honors Theses

Local, state, and federal funding for public schools have different stipulations on how they are used. Local revenue is more flexible, state revenue is controlled by the Mississippi Adequate Education Program (MAEP) guidelines, and federal revenue is targeted to specific areas. MAEP largely impacts all public school funding through not only state revenue stipulations, but also through its funding formula that sets a minimum contribution per district for state funding. This thesis investigates how a district’s revenue mix of these three different types of funding impacts student performance (ACT scores and graduation rates) in K-12 public school districts across Mississippi. …

Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker

Honors Theses

Agglomeration economies have gained special attention in recent decades. With the increasing connectivity of our world, specialized regional economies are stronger now than ever before. A specific agglomeration economy that has developed in recent years is the Georgia Film Industry. This region surpassed Hollywood as the premier filming location for the first time since the early 1900s when New York was number one. This thesis analyzes the reasons why Georgia was so successful in attracting the film industry and encouraging its development by comparing infrastructure, film tax incentives, population, and labor development to that of competing states like New York, …

Imitators To Creators: The Emergence Of A Confident National Identity In Contemporary Korea As Observed Through K-Pop And Masculinity, Kaitlyn Diane Read

Honors Theses

South Korea’s national narrative has evolved from one familiar with destruction and outside control to one that can now afford to be more challenging and confrontational. Korea’s ascent to both economic and political prominence on the international landscape in record time is well established. The rapid transformation currently impacts Korean society with the country choosing to concentrate on strengthening its soft power and nation brand exporting. This thesis aims to reveal how Korea’s recently acquired position of significance on the global stage permits the Korean national identity to be assured and stimulating, in contrast with a derivative narrative once perceived …

Mind Your Youth: Youth Unemployment And Islamic Radicalization, Caleb Ray

Honors Theses

This study examines the potential existence of a correlation between youth unemployment and Islamic Radicalization in the MENA using data from the World Bank, the Global Terrorism Database, and the Arab Barometer. It aims to add to the current body of research regarding socioeconomic drivers for radicalization and terrorism.

A Thumb On The Scale: Chinese Investment And Influence In Ecuador And Colombia, Christina Pendergrast

Honors Theses

Over the past two decades, Chinese involvement in the developing world has increased dramatically, raising concerns over the intentions behind the provision of development packages. Critics have accused China of a practice known as debt-trap diplomacy, a method of ensnaring less developed nations by providing more loans than those nations have the ability to feasibly pay back. While China denies that their loan and investment packages are provided with any ulterior motive, the influence held by an investor like China has the potential to impact these partner countries for decades to come. In light of the scope of China’s role …

Nationalism Beyond A Nation: Non-Iberian Spanish Nationalism Examined, George Ruggiero Iv

Honors Theses

In this thesis, I explore differences between certain non-Spanish nationalist movements within Spain. To do this, I examine similarities and differences in economic, political, and cultural factors that may explain why some Spanish autonomous communities exhibit major nationalist movements and some do not. These factors include the presence of proclaimed nationalist political parties, strongly identified cultural identities, and historical elements that point to the existence of a non-Spanish identity or nationalist movement.

Separate And Unequal: The Causes And Effects Of Economic Inequality In Our Communities, And What We Must Do About It, Jonathan Payne

Honors Theses

This project seeks to create a deep understanding of some of the key causes and effects of economic inequality. In it, I review a wide variety of research and reporting on inequality as well as interview people that have been impacted by inequality in my community, Oxford, Mississippi. This information, as a whole, is not meant to create a complete, comprehensive understanding of income and wealth inequality, which would be impossible. Instead, it is a meditation on the origins, cycles, outcomes and ethical implications of the phenomenon. In it, I contend that the vast majority of negative outcomes of inequality, …

The Residential Location Choices Of Chabad Households: An Analysis Of Decision Making With Non-Price Constraints, Chasity A. Mcfadden

Honors Theses

Where an individual chooses to live informs many of their economic decisions and may be the single largest economic decision one makes in their lives. Through understanding the way that people choose their residential locations, we are able to better understand the opportunities available to them. Within the Chabad community, there is a large focus on emissary work, which calls Chabad Jews to move outside of large Jewish communities in order to help secular Jews become more religious. There are also certain religious amenities that are necessary to live a Chabad life, such as a local synagogue. So the question …

After School Programs And Their Effect On Children's Well-Being, John Steenrod

Honors Theses

As female labor force participation has gone up, families have turned more and more towards after school programs to provide adult supervision for their children, especially in low income areas. This paper utilizes longitudinal household data to examine the effect of these after school programs on noncognitive outcomes in children, and, in particular, follows the early education literature in using within-family comparisons for identification. I find that children who participate in after school programs are less likely to be depressed, and are more likely to have a high degree of emotional, social, and psychological well-being. Generally, participation is associated in …

Impacts Of A Movie's Rivals' Releasing Decisions On Its Domestic Box Office Revenue, Yuanyuan Dong

Honors Theses

This paper uses the OLS regression model to investigate and quantify the competition effects in the film industry, aiming to help film distributors in the making releasing decision. To do so, I define the movies that release within the same week as rivals and use the rivals’ characteristics variables to capture the competition effects. The regression results show that a movie’s rivals’ total production budgets and the number of opening weekend’s theater have significantly negative impacts on this movie’s box office revenue. After adding control variables and indicator variables for seasonality, the competition effects become less obvious with less precision. …

Effects Of Exposure To Chinese Imports On School Spending And Revenue From Property Tax, Yilei Bao

Honors Theses

I analyze the effect of exposure to Chinese import competition on school revenues per student from property tax, from local sources, and school expenditures per student in 676 Commuting Zones (CZ) from 1990 to 2007. I discover a negative relationship on the CZ level between exposure per worker to Chinese import competition and school expenditure per student, as well as school revenue per student from local sources. In contrast, impact on school revenue per student from property tax is not statistically significant. On average, in a given period, an increase of 1000 dollars in import exposure is related to a …

Naloxone Access And Opioid Use: A Theoretical Analysis, Caroline Dunsby

Honors Theses

Naloxone, commonly known by the brand name Narcan, is a medication that reverses the potentially fatal effects of an opioid overdose. Amidst the opioid epidemic that has taken tens of thousands of lives each year, many policies have been enacted to increase the public's access to naloxone, allowing non-medical personnel to save lives. There have been two distinct reactions to these policies. Those that support the policies state that harm reduction measures are necessary to save lives. Those that oppose the policies claim that by providing naloxone, states may be increasing risky opioid use - suggesting that naloxone leads to …

Diversity, Bias, And Student Outcomes, Amanda J. Schmidt

Honors Theses

This paper examines how racially-motivated bias incidents relate to college students’ academic outcomes, and how this relationship differs across race. There is evidence that students’ academic outcomes are negatively impacted by bias, particularly among marginalized groups. This could have severe impacts on equality, overall student success, and future outcomes. I use Colby College student-level data to analyze the effects of bias incidents on both changes in individuals’ GPAs, and differences in probability of retention across individuals. I analyze the effects of one severe bias incident in the Spring of 2009, and the effects of several bias incidents which occurred over …

Tuition Resets: An Economic Analysis, Claire Mendelson

Honors Theses

American higher education today is defined by rising tuition and decreasing enrollment. As higher education institutions prepare for a looming enrollment crisis, tuition resets – when colleges or universities decrease their sticker price of tuition – are becoming a newly popular strategy. Although much research has been done regarding the economics of higher education and what influences tuition, no quantitative research study has been done on tuition resets. This research study contributes to the existing literature by quantitatively testing the effect of a tuition reset on an institution’s financial health, as measured by net tuition revenue from students and undergraduate …

Estimating Value-At-Risk Of An Unconventional Portfolio, Elizabeth N. Mejía-Ricart

Honors Theses

Since the 2008 financial crisis, interest rates and bond yields have been low all through the recovery and expansion that followed, and they are still low. As a result, more investors have been attracted to US equities, a space of possibly higher returns. However, these returns come with a potential downside: risk of loss. One of the methods to assess this potential downside is value-at-risk (VaR), which gained momentum in the late 1990s. At the time, the market risk amendment to the 1988 Basle Capital Accord required commercial banks with significant trading activities to put aside capital to cover market …

The Effect Of President Trump’S Company-Specific Tweets On Company’S Stocks, Justin Kleczka

Honors Theses

Implementing event-study analysis, I find that President Trump’s tweets about publicly traded companies cause daily abnormal returns of 0.25% in a company’s stock in the same direction as the sentiment of the tweet: positive tweets increase abnormal returns by 0.25% on the day’s end, while negative tweets will cause -0.25% abnormal returns.

Additionally, I find that President Trump’s company-specific tweets increase the daily abnormal trading volume and volatility of a company’s stock by 19%, regardless of tweet sentiment. For abnormal returns and abnormal trading volume, the effects of President Trump’s tweets do not last multiple days after a tweet. However, …

Profitability And Corporate Social Responsibility, Alexander Kirk

Honors Theses

This project examines the relationship between net margins and measures of corporate social responsibility for the companies in the S&P 500 index. This is conducted through linear regressions of overall, environmental, social, and governance scores on net margin percentages for firms from their annual 10-K reports filed with the Securities and Exchange Commission. The corporate social responsibility measures were taken from Sustainalytics via Yahoo Finance and combined with dummy variables for Global Industry Classification Standard sectors. Results indicate very limited role in corporate social responsibility measures for predicting net margins, instead favoring sector specific variables as driving net margins to …

Internal Migration Of Foreign-Born In Us: Impacts Of Population Concentration And Risk Aversion, Thin Yee Mon Su

Honors Theses

Internal migration in the US has been declining since the 1990s and research has mostly focused on labor market dynamics and aging population to explain the migration trends. This paper analyzes migration patterns of foreign-born groups in the US from 2000 to 2019. Along with the migration determinants such as education and employment, the paper focuses on population concentration as a factor that shapes foreign-born decisions to relocate in the US. Population concertation is defined to be a measure of how geographically concentrated each foreign-born group is across the US. I find that the likelihood of migrating to another state …

Country Roads, Take Me Away: Coal Mining And Migration In West Virginia, 1971-2010, James J. Slaughter

Honors Theses

West Virginia’s population peaked in 1950. Parallel to this, employment in the coal mining industry peaked in 1948. Popular discourse links these two trends together. It is suggested that the decline of the coal mining industry, which was previously a stable source of employment, has led West Virginians to leave the state searching for better job opportunities elsewhere. This thesis uses first-difference regression models to analyze the relationship between lagged year-to-year changes in coal-mining employment and year-to-year changes in net-migration to and from West Virginia. A positive and statistically significant relationship is found between 1-year lagged changes in coal mining …

Frames, Fallacies, And The Market For Lemons, Adam Field

Honors Theses

The purpose of this thesis is to illustrate the impact of an “endowment frame” on risk behavior in games of asymmetric information. Akerlof’s (1970) description of a “market for lemons” led to the creation of a modified screening game into which the endowment frame could be placed. The game was subsequently computerized and administered to 18 test subjects in the Mississippi Experimental Research Laboratory. At the beginning of the experiment, test subjects were randomly assigned to either a control or treatment group. Each participant played 20 rounds of the game and was compensated based on his or her performance. The …

How Will I Afford It? Financial Aid And Its Impact On Higher Education: Evidence From The State Of Mississippi, Daria Herasymova

Honors Theses

The cost of higher education, in real terms, doubled in the last twenty years, increasing faster than medical costs, the consumer price index and housing. In 1987, U.S. Secretary of Education, William J. Bennett, in the New York Times article, raised the concern that financial aid has unintended consequences of enabling higher education institution to increase tuition. In this paper, through collection of data and literature review, I examine the drivers behind the rising cost of higher education and test whether the postsecondary institutions in the state of Mississippi exhibit behavior, consistent with the Bennett Hypothesis. Using fixed-effects regression model, …

Exploring Financial Literacy Of Independent Musicians In The Gig Economy, Benjamin Milam

Honors Theses

The purpose of this study is to gain insight into the elements of the career of independent musicians. Specifically, how they overcome or fail to overcome the challenges of a gig economy through knowledge and ability to properly manage scarce financial resources. The research questions posed are as follows: (a) Does higher financial literacy allow independent musicians to sustain and improve their career in the gig economy? (b) How do independent musicians use financial literacy to sustain their career? (c) How does industry experience affect the ability of independent artists to effectively allocate financial resources? To answer these research questions, …

The Economic Impact Of The 2018 Conference Usa Baseball Tournament On The Mississippi Gulf Coast, Jonathan Brent

Honors Theses

This study aims to measure the economic impact of the 2018 Conference USA Baseball Tournament on the Mississippi Gulf Coast compared to holding the college sporting event at the University of Southern Mississippi in Hattiesburg, Mississippi. Visitor spending and demographic data was collected through random intercept surveys outside MGM Park in Biloxi, Mississippi. The Economic Modeling LLC (EMSI) Input-Output model was used to determine the economic and fiscal impact of visitor spending during the sporting event. The impact to the six-county coastal region and the state of Mississippi as a whole was analyzed. The EMSI model projected an increase of …

Analyzing Access To Higher Education: Through The Lens Of Socioeconomic Factors At Bucknell University, Autumn J. Patterson

Honors Theses

Access to higher education in the United States greatly varies depending on numerous characteristics; especially an applicant’s race and financial status. This thesis aims to answer the following questions regarding access to higher education at Bucknell University: How have socioeconomic factors affecting access evolved in the past twelve years? Has this change increased or decreased access for Bucknell students? Does the level of access change when gender and race are analyzed? Is Bucknell successfully leveling the playing field for all students regarding their earning potential after they graduate? Lastly, does the mismatch hypothesis apply to Bucknell? By utilizing data from …