Economics Commons^™

Differences In The College Enrollment Decision Across Race, Robert Baumann

Economics Department Working Papers

The gap in college enrollment rates between whites and blacks has remained stable since 1990, despite large increases in tuition and higher average wages for whites. We find the determinants of the enrollment decision differ greatly between whites and blacks, and within race between black males and females, but not between white males and females. These systematic differences require separate enrollment estimations for each race and for blacks each gender. Specifically, responses to changes in family income, parents’ education, and school quality are vastly different across race-gender groups.

Big Men On Campus: Estimating The Economic Impact Of College Sports On Local Economies, Robert Baade, Robert Baumann, Victor Matheson

Economics Department Working Papers

College football and men’s basketball are the largest revenue generators in college athletics. Studies funded by athletic boosters tout the economic benefits of a college athletic program as an incentive for host cities to construct new stadiums or arenas at considerable public expense. Our analysis of the economic impact of home football and men’s basketball games on Tallahassee (home of Florida State University) and Gainesville (home of the University of Florida) between 1980 to early-2007 fails to support these claims. Men’s basketball games at these universities have no statistically significant impact on taxable sales, while football yields a modest gain …

Price-Based Measurement Of Financial Globalization: A Cross-Country Study Of Interest Rate Parity, Hiro Ito, Menzie David Chinn

Economics Faculty Publications and Presentations

We characterize the relationship between ex post exchange rate depreciation and the interest differential for a set of countries that spans both developed and emerging market economies. The measured ex post uncovered interest differentials in terms of both levels and absolute values are then related to measures of trade and financial openness, financial development, government budget balances, institutional development, and exchange rate regimes. We find that there is wide diversity in the coefficient relating depreciations and interest differentials. Some of these differing results can be attributed to differences in inflation volatility, financial development, trade openness, capital account openness, legal development, …

Metropolitan Report - August 2007, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

The Impact Of School-District Consolidation On Property Values, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

An Update Of The Regional Growth Model For Large And Mid-Size U.S. Metropolitan Areas: Northeast Ohio Dashboard Indicators: Executive Summary, Ziona Austrian, Iryna Lendel, Jill S. Taylor

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

An Update Of The Regional Growth Model For Large And Mid-Size U.S. Metropolitan Areas: Northeast Ohio Dashboard Indicators, Ziona Austrian, Iryna Lendel, Afia Yamoah

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Does Financial Openness Promote Economic Integration?, Fabrizio Carmignani, Abdur Chowdhury

Economics Faculty Research and Publications

We estimate the effect of financial openness on economic integration for two clusters of countries: the formerly planned economies of Eastern Europe and central Asia (emerging market economies) and some western advanced economies. We focus on two dimensions of economic integration: convergence of per-capita incomes across countries and trade integration. We employ both single equation estimation and system estimation to account for endogenous links between trade integration and income convergence. Results show that in the cluster of emerging market economies, financial openness is a powerful instrument of economic integration. In the group of advanced economies, financial openness effectively facilitates income …

Empirical Essays On Inflation And Economic Growth, Lezheng Liu

Dissertations

This dissertation collects three empirical essays on inflation and economic growth. The first essay examines the impact of inflation uncertainty on the level of inflation. Uncertainty is measured by the conditional variance of inflation, and inflation is modeled as a GARCH-in-mean process with a two-regime Markov-switching coefficient on uncertainty. Using a Bayesian estimator with the Markov Chain Monte Carlo approach, we find that the impacts of uncertainty on inflation are statistically significant and have different signs in different regimes for the U.S. postwar data. The regime switching nature of the inflation process can explain the contradictory theoretical predictions and empirical …

On The Segmentation Of Markets, Nicolas L. Jacquet, Serene Tan

Research Collection School Of Economics

This paper endogenizes the market structure of an economy with heterogeneous agents who want to form bilateral matches in the presence of search frictions and when utility is nontransferable. There exist infinitely many marketplaces, and each agent chooses which marketplace to be in: agents get to choose not only whom to match with but also whom they meet with. Perfect segmentation is obtained in equilibrium, where agents match with the first person they meet. All equilibria have the same matching pattern. Although perfect assortative matching is not obtained in equilibrium, the degree of assortativeness is greater than in standard models.

Regression With Slowly Varying Regressors And Nonlinear Trends, Peter C. B. Phillips

Research Collection School Of Economics

Slowly varying (SV) regressors arise commonly in empirical econometric work, particularly in the form of semilogarithmic regression and log periodogram regression. These regressors are asymptotically collinear. Usual regression formulas for asymptotic standard errors are shown to remain valid, but rates of convergence are affected and the limit distribution of the regression coefficients is shown to be one dimensional. Some asymptotic representations of partial sums of SV functions and central limit theorems with SV weights are given that assist in the development of a regression theory. Multivariate regression and polynomial regression with SV functions are considered and shown to be equivalent, …

To Trust Or To Monitor: A Dynamic Analysis, Fali Huang

Research Collection School Of Economics

In a principal-agent framework, principals can mitigate moral hazard problems not only through extrinsic incentives such as monitoring, but also through agents’ intrinsic trustworthiness. Their relative usage, however, changes over time and varies across societies. This paper attempts to explain this phenomenon by endogenizing agent trustworthiness as a response to potential returns. When monitoring becomes relatively cheaper over time, agents acquire lower trustworthiness, which may actually drive up the overall governance cost in society. Across societies, those giving employees lower weights in choosing governance methods tend to have higher monitoring intensities and lower trust. These results are consistent with the …

Does Tv Affect Child Cognitive Development?, Fali Huang, Myoung-Jae Lee

Research Collection School Of Economics

We investigate whether TV watching at ages 6-7 and 8-9 affects cognitive development measured by math and reading scores at ages 8-9 using a rich childhood longitudinal sample from NLSY79. Dynamic panel data models are estimated to handle the unobserved child-specific factor, endogeneity of TV watching, and dynamic nature of the causal relation. A special emphasis is put on the last aspect where TV watching affects cognitive development which in turn affects the future TV watching. When this feedback occurs, it is not straightforward to identify and estimate the TV effect. We adopt estimation methods available in the biostatistics literature …

A Welfare Analysis Of Capital Account Liberalization, Jürgen Von Hagen, Haiping Zhang

Research Collection School Of Economics

We develop a model of a small open economy with credit market frictions to analyze the consequences of capital account liberalization. We show that nancial opening facilitates the in ows of cheap foreign funds and improves production e ciency. Reforms increasing labor market exibility can further improve such e ciency gains. However, capital account liberalization also has important distributional consequences. Speci cally, it may be impossible to use public transfers to fully compensate the loss of those negatively a ected by capital account liberalization. This explains why nancial opening often meets erce opposition even though it leads to e ciency …

The Coevolution Of Economic And Political Development, Fali Huang

Research Collection School Of Economics

This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of di¤erent production factors and the political con‡icts among factor owners on how to divide the outputs. The main production factor in economy evolves from land to physical capital and then to human capital, which enables their respective owners (landlords, capitalists, and workers) to gain political power in the same sequence, shaping the political development path from monarchy to oligarchy and …nally to democracy with full su¤rage. When it is too costly for any group of factor owners to …

New Mexico Labor Market Review 07-31-2007, New Mexico Department Of Workforce Solutions

Historic Publications

The New Mexico Labor Market Review is a monthly publication presenting statistical data and analysis on labor market conditions throughout New Mexico. Issues examine statewide and regional trends in employment, unemployment, labor force estimates, industry activity, wages, occupational demand, and related economic conditions, often accompanied by feature articles on topics affecting the state’s economy. This issue covers June 2007.

The Perspective Of Cow/Calf Producers In The Dakotas: Mandatory Price Reporting For Slaughter Cattle, Martin Beutler, Scott Fausti, Bashir Qasmi

Economics Commentator (1972- 2016)

No abstract provided.

Transitions Into And Out Of The Wic Program: A Cause For Concern?, Alison Jacknowitz, Laura Tiehen

University of Kentucky Center for Poverty Research Discussion Paper Series

Despite the health benefits of participation in the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), many eligible households do not participate in WIC during pregnancy and others exit WIC after a child turns one year old. This research uses the first two waves of the Early Childhood Longitudinal Study-Birth Cohort (ECLS-B) to advance our understanding of these transitions into and out of WIC. Findings suggest that those who exhibit better economic health across a variety of dimensions are more likely to delay entry into the program or exit after a child turns one year of age.

What Kinds Of Stock Ownership Plans Should There Be? Of Esops, Other Sops And "Ownership Societies", Robert C. Hockett

Cornell Law Faculty Publications

Present-day advocates of an ownership society (OS) do not seem to have noticed the means we have already employed to become an OS where homes and human capital (higher education) are concerned. Nor do they appear to have considered whether these same means - which amount to publicly enhanced private credit markets - might be employed to spread shares in business firms, with a view to completing our OS. This article, the third in a series, seeks tentatively to fill that gap. It does so first by demonstrating how the Employee Stock Ownership Plan, or ESOP, in effect replicates our …

United Way El Paso - Chico Partners Focus Group Report, John Bretting, Lisa Tomaka, Christopher Villa

IPED Technical Reports

No abstract provided.

Informality And Productivity In The Labor Market: Peru 1986 - 2001, Alberto Chong, Jose Galdo, Jaime Saavedra-Chanduvi

Economics - All Scholarship

Peru has one of the highest informality rates in Latin America, with almost 60 percent of the urban labor force working at the margins of labor market legislation or in microenterprises that lack basic labor market standards (Marcouiller, Ruiz de Castilla, and Woodruff, 1997). This paper identifies two factors that can explain the variation in informality rates in the 1990s. First, Peru experienced a steady increase in employment allocation in traditionally “informal” sectors—in particular, retail trade and transport. Second, there was a sharp increase in nonwage labor costs, despite a reduction in the average productivity of the economy. In addition, …

Rhode Island Current Conditions Index — July 2007, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Linking Economic Development And Poverty: The Role Of Innovation And Innovation Capacity In The South, Jeremy Hall

University of Kentucky Center for Poverty Research Discussion Paper Series

While most economic development research views poverty as a sign of need for development or poverty reduction as an outcome of successful development, this study treats poverty as an independent variable alongside contemporary measures of innovation capacity that reflect state potential for economic development, examining the combined impact of poverty and innovation capacity on economic development outcomes. The study examines the effect poverty has on economic development outcomes given levels of innovation capacity, and the effect poverty has on formation of state innovation capacity. The methodology consists of pooled cross-sectional time-series analysis with panel corrected standard errors with lags. The …

Determinants Of State Tobacco-Control Expenditures, Michael L. Marlow

Economics

While Centers for Disease Control and Prevention believe that most state governments under-fund tobacco-control programs, little is known about why large variation in spending exists between state governments. This study explores reasons for spending variation through an econometric model of per capita spending on tobacco-control programs that explores the effects of smoking prevalence while holding constant tobacco settlement funds, state budget deficits, and other factors that might also be expected to influence spending variation. Empirical evidence indicates no support for the hypothesis that states with high smoking prevalence spend more on tobacco-control than other states. This finding may be quite …

A Soft Landing And A Long Layover, John Austin, Chris Decker, Tom Doering, Ernie Goss, Philip Baker, Bruce Johnson, Lisa Johnson, Ken Lemke, Franz Schwarz, Scott Strain, Eric Thompson

Economics Faculty Publications

The U.S. economy achieved a soft landing in 2006. This was a desirable outcome. The economy needed a break from its rapid, and potentially inflationary, growth in 2004 and 2005, before taking off again. But, that new flight has been delayed. The aggregate economy has remained mired in slow growth in the first half of 2007. Pockets of the economy, such as the labor market, have been strong, but a weak housing sector has limited overall growth. Further, signs point to one or two more quarters of weaker growth, before the economy is able to take off again.

Economic War And Democratic Peace, Cullen F. Goenner

Economics & Finance Faculty Publications

Research has shown that democracies rarely, if ever, engage each other in war and are less likely to have militarized disputes than when interacting with authoritarian regimes. Economic sanctions are an alternative to militarized conflict viewed by the masses as more acceptable. The conflict-inhibiting effects of democratic norms and institutions are thus weakened with respect to the use of sanctions. This paper examines whether a country's decision to initiate sanctions is influenced by its regime type as well as that of the potential target. The results for the period 1950 to 1990 indicate that the more democratic a country is, …

Stochastic Modeling Of Retail Mortgage Loans Based On Past Due, Prepaid, And Default States, Chang Liu

Doctoral Dissertations

Stochastic models were developed that provide important measures related to retail mortgages and credit cards for the management of a bank. Based on Markov theory, two models were developed that predict mortgage portfolio size and expected duration of stay in each of the states, which are defined according to the criteria of Basel Accord II and the Federal Reserve Bank. Also, to facilitate comparisons among different types of credit products and different time periods, a model was developed to generate a health index for a retail mortgage. This model could be easily extended, using multivariate regression or multivariate time series …

Fort Hancock, Texas Capital Improvement Report, Sergio Pena , John Bretting, Daniel J. Quiñones, Christopher Villa

IPED Technical Reports

This report follows up to the research background technical report #2005-03 (http://digitalcommons.utep.edu/iped_techrep/62/, The Institute for Policy and Economic Development, requested by The Rio Grande Council of Governments (RGCOG).

Research: Pide Policy Viewpoint, Vice Chancellor .

Business Review

RENEW CITIES TO BE THE ENGINES OF GROWTH

PIDE Cities Research Programme was initiated in Karachi with a conference titled Cities: the Engine of Growth on November 15-16, 2006. The conference was held in our largest city and was well-attended by economists, architects, town planners, Nazims, government officials, NGOs, journalists, and other citizens. The discussion was animated and about twenty-five speakers addressed the gathering. All points of view were represented and debated. The main points of the discussion that took place there may be summarised as follows: • All segments of our society are dissatisfied with the current state of …

Evidence About The Potential Role For Affirmative Action In Higher Education, Braz Camargo, Ralph Stinebrickner, Todd Stinebrickner

University of Kentucky Center for Poverty Research Discussion Paper Series

In two recent cases involving the University of Michigan, the Supreme Court examined whether race should be allowed to play an explicit role in the admission decisions of schools. The primary argument in these court cases and others has been that racial diversity strengthens the quality of education offered to all students. Underlying this argument is the notion that educational benefits arise if interactions between students of different races improve preparation for life after college by, among other things, fostering mutual understanding and correcting misperceptions. Then, a fundamental condition necessary for the primary legal argument to be compelling is that …