Economics Commons^™

Laying The Foundations For An Organizational Reincarnation Plan: Identifying Sterpdb's Future, Chelsea Marie Robertson

MPA Capstone Projects 2006 - 2015

Southern Tier East Regional Planning Development Board (STERPDB) is the primary funneling system of the Economic Development Administration and Appalachian Regional Commission Federal Funds to the Southern Tier area of New York State. STERPDB currently has leadership approaching retirement within the next five years and there is no succession plan in place. This would leave STERPDB with a lack of leadership and result in an ineffective organization. This study strives to answer what the key stakeholders at STERPDB would like to see for the future of STERPDB as well as what action will be necessary to foster a successful transition …

Minnesota Mandates: County Government Fiscal Stress In An Era Of Declining State Support, Selena Krueth

Political Science Theses and Capstones

Minnesota counties are experiencing more than just financial burdens from state mandates these days. Counties and local governments currently are seeking the most effective solution of implementing state mandates; leaving behind the argument of no mandates without funding to "give us mandates that work". In my analysis I combined county budgetary and demographic data, with phone survey data gathered from Minnesota counties. I anticipate results that will show a wide variety in county administrator attitudes towards state mandates and varying local capacity to meet them. Costly state mandates, such as health services, and large county populations have proven significant in …

Intergenerational Justice When Future Worlds Are Uncertain, Humberto Llavador, John E. Roemer, Joaquim Silvestre

Cowles Foundation Discussion Papers

Suppose that there exists a positive (exogenous) probability that at each date of a possibly infinite future, the human species will disappear. We postulate an Ethical Observer (EO) who must solve an intertemporal welfare maximization problem under this kind of uncertainty, with preferences that satisfy the expected utility hypothesis. Various social welfare criteria are expressed as alternative von Neumann-Morgenstern utility functions for the EO: utilitarianism, Rawlsianism, and an extension of the latter that corrects for the size of population. Our analysis covers, first, a simple cake-eating economy, where the utilitarian and Rawlsian recommend the same intergenerational allocation. Second, we consider …

The Ethics Of Distribution In A Warming Planet, John E. Roemer

Cowles Foundation Discussion Papers

The discounted-utilitarian social welfare function (DU) is used by the great majority of researchers studying intergenerational resource allocation in the presence of climate change (e.g., W. Nordhaus, M. Weitzman, N. Stern, and P. Dasgupta). I present three justifications for using DU: (1) the view that the first generation’s preferences should be hegemonic, (2) the viewpoint of a utilitarian Ethical Observer who maximizes expected utility when the existence of future generations is uncertain, and (3) axiomatic justifications (as in classical social-choice theory). I argue that only justification (2) provides an ethically convincing justification, and that, only if one endorses utilitarianism as …

Collaborating, Alessandro Bonatti, Johannes Hörner

Cowles Foundation Discussion Papers

This paper examines moral hazard in teams over time. Agents are collectively engaged in an uncertain project, and their individual efforts are unobserved. Free-riding leads not only to a reduction in effort, but also to procrastination. The collaboration dwindles over time, but never ceases as long as the project has not succeeded. In fact, the delay until the project succeeds, if it ever does, increases with the number of agents. We show why deadlines, but not necessarily better monitoring, help to mitigate moral hazard.

My Tenure War, Julie A. Nelson

Economics Faculty Publication Series

No abstract provided.

The Impact Of Social Pressures On Referee's Sanctions In Professional Soccer : A Case Study Of Penalty Kicks In The Mls, Mariano Harari

Honors Theses

This paper examines referee bias in the Major League Soccer (MLS), particularly looking at referees’ decisions regarding penalty kicks. After analyzing the 520 penalty kicks sanctioned since the inception of the MLS, this study ascertains that referees’ display a considerable bias favoring the home team when awarding the initial penalty kick of a game. Additionally, this study demonstrates that in matches with more than one penalty kick, the penalties are disproportionately awarded to each team, suggesting that referees are compensating or atoning for their initial calls. Moreover, when sanctioning a second penalty kick, there is a bias effect of 5.4% …

Children's Health Insurance Program: The Dynamics Of Federalism And Health Care Policy, Erik White

Political Science Theses and Capstones

On February 4^th, 2009, President Obama signed into law the reauthorization of the Children Health Insurance Program. The federal government will now spend 30 billion dollars towards the goal of ensuring that more children in the United States are insured. I investigate this particular health care policy and look at the different dynamics that affect the ultimate goal of universal health insurance for children. Because this program allows for state flexibility under broad federal guidelines, one is able to look at individual states, and their particular actions and characteristics, to determine the best approach to insuring the most …

Educational Vouchers And Academic Performance, Nicole Kvidera

Political Science Theses and Capstones

Every time our elected representatives are looking at budget, or election time rolls around, or a family is considering moving, the topic of education is in the thoughts and on the minds of many. Over the years there have been many different education reforms and proposed ideas. This presentation will go in-depth into one such educational reform idea. Educational vouchers have been studied in various ways over the years; the data for this study comes from Milwaukee, Wisconsin and gathered over the course of years. The data gathered allows one to compare students in Milwaukee Public Schools and students that …

Principal Components And Long Run Implications Of Multivariate Diffusions, Xiaohong Chen, Lars P. Hansen, José Scheinkman

Cowles Foundation Discussion Papers

We investigate a method for extracting nonlinear principal components. These principal components maximize variation subject to smoothness and orthogonality constraints; but we allow for a general class of constraints and multivariate densities, including densities without compact support and even densities with algebraic tails. We provide primitive sufficient conditions for the existence of these principal components. We characterize the limiting behavior of the associated eigenvalues, the objects used to quantify the incremental importance of the principal components. By exploiting the theory of continuous-time, reversible Markov processes, we give a different interpretation of the principal components and the smoothness constraints. When the …

The Impact Of Terrorism On Business, Michael D. Larobina, Richard L. Pate

WCBT Faculty Publications

Terrorism has in one form or another been a part of society throughout history. Since the September 11, 2001 attacks in New York, the world community has been more focused on terrorism than ever before in most recent modern history. Terrorism has impacted multiple levels of society across the world community. One of those levels is the business environment. A specific aim of terrorism is to disrupt and destroy ongoing businesses. Therefore, the ability of governments to disrupt and destroy terrorism is essential to the continued growth and expansion of the world economy. Terrorism will directly impact a country's ability …

Can Scouts And Nfl General Managers Predict Future Quarterback Performance At The Time Of The Nfl Draft?, Cain Montgomery

Honors Theses

Every year the National Football League has a draft selection process to recruit new talent. Despite the overwhelming amount of analysis performed on players, bad draft picks happen every year. Little research has previously been done to determine whether player performance is predictable at the time of the NFL Draft. Rafferty and Johnson chartered new territory in 2008 with their study entitled Is the NFL Draft a Crap Shoot? The Case of Wide Receivers. The purpose of this paper is to help fill the void of literature on performance prediction by extending the study by Rafferty and Johnson to …

An Analysis Of The Impact Of Team Payroll On Regular Season And Postseason Success In Major League Baseball, Noah L. Schwartz, Jason M. Zarrow

Undergraduate Economic Review

Major League Baseball, like other American professional sports, has become a multibillion dollar industry. The institution of free agency has led to the escalation of payrolls and altered the make-up of rosters by dramatically reducing owners’ monopsony power. The ability of large market clubs such as the New York Yankees to compete continually for the game’s greatest prize illustrates the power of the dollar. This paper examines four distinct periods from 1977 to 2008 in order to assess the influence of pecuniary advantages on regular season and postseason outcomes. Payroll exerts great influence in the regular season, but not in …

High School Graduation Rates In The Metro-Detroit Area: What Really Affects Public Secondary Education, Thomas A. Wilk

Undergraduate Economic Review

Education is essential to the future productivity of workers in the Metropolitan Detroit area, so determining what impacts high school graduation is vital to predicting the future success of our economy. This research investigates what key aspects in our society affect the high school graduation rate: poverty level, violent crime rate, student body, class size, local school taxes, and standardized test scores. Results from multiple regressions using school district and city data from the CCD and FBI suggest that poverty levels and violent crime in the Metro Detroit area significantly, negatively influence high school graduation rates. Reforms to public policy …

Measuring The Effect Of Family Income On Undergraduate Behavior, Lindsey Brewer

Honors Theses

Educational equality has been an important and relevant issue in recent years, especially as tuition increases at colleges and universities make it increasingly difficult for low and middle-income families to afford education for their children. There are even more issues of educational equality that come into play once a student matriculates at a chosen school. This paper focuses on this area, expanding on existing literature that details family income’s impact on undergraduate behavior. Academic pursuits have been a topic for prior research in this area, but this paper also models extracurricular behavior as a function of family income. Results show …

Forecasting Utility Of Uk Consumer Sentiment Indexes In Real Time : Do Consumer Sentiment Surveys Improve Consumption Forecasts In Real Time?, Bradford M. Smith

Honors Theses

This paper builds on recent research utilizing real time datasets in order to assess the forecasting utility of consumer sentiment indexes in the United Kingdom. Academic researchers have consistently found that consumer confidence indexes accurately predict consumer spending in the near term. Few of these examinations, however, have utilized out of sample forecasting and only one has incorporated real time data. In an effort to recreate the exact dataset that is available to economic forecasters in real time, this paper utilizes the recently published Gross Domestic Product Real-Time Database from the Bank of England in order to produce forecasts of …

Mexico Consensus Economic Forecast, Thomas M. Fullerton Jr., Angel L. Molina Jr.

Border Region Modeling Project

No abstract provided.

Montana Nonresident Traveler Expenditure Profiles: 2008, Kara Grau

Institute for Tourism and Recreation Research Publications

This report examines spending profiles of nonresident travelers to Montana. It displays the average daily expenditures by purpose of trip for different spending categories during 2008.

Social Capital In Rural China: Its Impact On Economic Development, Grassroots Governance, And Democratic Participation, Min Xia

Graduate Program in International Studies Theses & Dissertations

Does social capital generate positive influences on economic development and democratic governance? This question has important theoretical and policy implications for the contemporary world, especially for the developing countries. The primary goals of this study are to investigate the stock of two types of social capital—bridging social capital and bonding social capital—in rural China, and furthermore to examine the impacts of these two types of social capital upon economic development, grassroots governance, and democratic participation in rural China.

In this study bridging social capital has been measured by the participation in inclusive social networks and general trust among villagers, and …

Research Choice And Finance In University Bioscience, David E. Ervin, Steven T. Buccola, Hui Yang

Economics Faculty Publications and Presentations

Academic bioscience's rising importance for downstream technology and growing private sector relationships have evoked substantial policy attention. We contribute to the scrutiny by asking how university bioscientists design and finance their research, with particular attention to the mutuality of research portfolio choice and funding success. The analysis requires consideration of other major influences on academic science, including scientific norms, human capital, and institutional environment. Drawing on a national survey of university bioscientists, we find that public financial support encourages more basic investigation and private support encourages more applied investigation. Yet downstream research is only moderately more excludable than upstream. Once …

Women, Work, And Welfare Reform, Kristin S. Seefeldt

Employment Research Newsletter

No abstract provided.

Jumpstart Inc.: Economic Impact On And Contribution To Northeast Ohio, 2008, Ziona Austrian, Afia Yamoah

All Maxine Goodman Levin School of Urban Affairs Publications

This report was prepared for JumpStart, Inc. by the Center for Economic Development at Cleveland State University. The report summarizes the economic impact in 2008 resulting from JumpStart investment in start-up companies in Northeast Ohio and its services to assist other entrepreneurs through JumpStart Ventures, JumpStart TechLift Advisors, JumpStart Inclusion Advisors, and IdeaCrossing.

L’Aide Au Développement : Les Perspectives Des Immigrés Sénégalais = Development Aid: The Perspectives Of Senegalese Immigrants, Allyson Barnett

Independent Study Project (ISP) Collection

Les perspectives des immigrés sénégalais, par rapport à la question de l’aide au développement, ont été étudiées à Toulouse, France. Neuf entretiens semi-directifs sur les thèmes d’aide bilatérale (France-Sénégal), l’aide multilatérale, et les expériences personnelles des participants composaient la substance de l’enquête. Les entretiens ont montré la complexité du sujet, et la compétence de chaque participant à donner une évaluation critique de la situation. L’enquêteuse a fait un lien avec cette évaluation et l’éducation formel et informel de participants. The perspectives of Senegalese immigrants regarding the question of development aid were studied in Toulouse, France. Nine semi-directed interviews were conducted …

Two Essays On Earnings Quality And Corporate Decisions, Qian Sun

Theses and Dissertations in Business Administration

This dissertation investigates how earnings quality as an information risk may facilitate our understanding of the choice of payment method in mergers and acquisitions and the value and the level of corporate cash holdings. In a world of asymmetric information and agency problem, Poor earnings quality implies the inadequate supply of relevant and reliable information for investors to monitor and discipline the behavior of firm managers to act in shareholder and stakeholder's best interest.

This study contributes to the literature in three folds. First, I add to the literature by postulating that earnings quality has a significant impact on the …

Who Will Care For The Women?, Candace Howes

Economics Faculty Publications

Over 20 million people today, including children, working-age disabled, and elderly persons, require some sort of assistance to live safely. Largely because women live longer than men, well into the ages when the probability of needing care increases, 70 percent of elderly people who need long-term care are women. Furthermore, most long-term care is provided by women, mainly as unpaid care in the home, or as low-paid care in institutions and community settings (Stone & Weiner 2001). The United States faces a severe long-term care crisis because of the nation's inability to plan for the changing demographic balance. The crisis …

Racial Salary Discrimination In The Nba: 2008-2009, Kyle Rehnstrom

Major Themes in Economics

This paper examines racial salary differences in the National Basketball Association for the 2008-2009 season. Previous studies that used data from the mid-1980s estimated salary premiums of between 16 and 20% for white players whose performance was comparable to black players. A study that used data from the late-1980s to early-1990s showed no significant salary differential between white and black players. Another study, using data from the 1990s, found no racial discrimination in the NBA, but did find a height premium of 7.4%. This paper will update previous studies by using more recent data to analyze salary discrimination in the …

What Determines The Level Of Funding For An Endangered Species?, Josh Mahoney

Major Themes in Economics

The U.S. federal government allocates resources for the protection of endangered species. Using an ordinary least squares regression, the study analyzes what variables affect the amount of funds an endangered vertebrate receives from the federal government. The results suggest that animal size affects spending decisions. Specifically, larger animals receive more money. Animals designated as high priorities by the federal government do not receive significantly more funds than animals given lower priority. Animals in conflict with economic development, however, are given preference in spending decisions. Overall, the results indicate a lack of consistency in current policy towards endangered species preservation.

The Economics Of Golf: An Investigation Of The Returns To Skill Of Pga Tour Golfers, Kelsey L. Rinehart

Major Themes in Economics

Golfers on the Professional Golfers Association (PGA) Tour make up an elite labor market. The earnings of a PGA Tour golfer are determined by his performances in tournaments. Using PGA Tour data from 2002 and 2008, this paper explores returns to skill of PGA golfers and changes in returns to skill over the time period. Greens in regulation (GIR), putts per GIR, and sand saves are found to be statistically significant. The analysis in this paper does not provide any support to the idea that returns to skills for PGA golfers have changed over time.

The Validity Of Karl Marx’S Theory Of Historical Materialism, Kaleb Shimp

Major Themes in Economics

Marx’s theory of historical materialism uses the evolution of productive forces and class struggle to explain history. With the fall of communism in the 20th century, many components of historical materialism have come under fire. This paper is a defense of the validity of historical materialism and concludes that some of the arguments against Marx’s theory are unfounded, while others still hold weight. What remains is a broad view of history that still has value.

Effects Of A Credit Crunch On Employment By Sector In The U.S.: How Have Recessions Associated With Credit Crunches Differed From Other Recessions?, Michael Boevers

Major Themes in Economics

Economists debate how important credit availability is to sustaining real economic growth. Episodes of financial instability and tight credit create a “credit crunch.” This paper investigates the effects of a credit crunch on employment in broad sectors of the U.S. economy. Monthly employment data is used to compare changes in employment by sector during recessions associated with a credit crunch and recessions not associated with a credit crunch. The results suggest that there is not a significant difference in how employment is affected in these broad sectors. The evidence supports the idea of a financial business cycle.