Economics Commons^™

The Economic Impact Of Oaklawn Hospital On The Marshall Area, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

Economic Impact Of Pharmacia On Kalamazoo County In 2000, George A. Erickcek, Brad R. Watts

Reports

No abstract provided.

How Does Income Inequality Affect The Growth Of U.S. Counties?, Jeremy Roth

Economics Honors Projects

This paper aims to conduct a precise test of the political economy hypothesis linking income inequality and economic growth. By choosing covariates from a detailed county-level dataset and assuming that U.S. counties experience perfect capital mobility, I shut off the four possible channels linking inequality and growth other than political economy. This is a first in an empirical literature that has reported conflicting findings with observations of states and countries. I also present thematic maps to illustrate the cross-county variation in key growth determinants that is masked by state-level studies. My econometric tests find a negative association between the initial …

The Boom Not The Slump: The Right Time For Austerity, Arjun Jayadev, Mike Konczal

Economics Faculty Publication Series

Should the United States cut its deficit in the short term? This has been the subject of intense debate among politicians, policy analysts and thinkers over the past year. What are the consequences of cutting the deficit with interest rates low, unemployment high and growth uncertain?

Economic Impact Of Youth Sports: Hosting Baseball And Softball Tournaments In A Mid-South Community, Carl Behunin

Student Theses and Dissertations

Increased community interest in sporting events, uncertain economic periods, and accountability of city government spending can increase the need for more awareness of potential economic impact of sports tournaments on host communities. There has been increased research devoted to determining the economic impacts athletic events have on regions, states and cities. This study considers previous empirical studies in U.S. cities concerned with measuring the economic impact of athletic events and uses those as a model to assess the economic impact of such events in a mid-southern community. It also points out common mistakes when conducting economic impact studies on sports. …

Blood Lipids, Infection, And Inflammatory Markers In The Tsimane Of Bolivia, Sarinnapha Vasunilashorn, Eileen M. Crimmins, Jung Ki Kim, Jeff Winking, Michael Gurven, Hillard Kaplan, Caleb Finch

ESI Publications

Objectives—Little is known about blood cholesterol (blood-C) levels under conditions of infection and limited diet. This study examines blood-C and markers of infection and inflammation in the Tsimane of the Bolivian Amazon, indigenous forager farmers living in conditions that model preindustrial European populations by their short life expectancy, high load of infections and inflammation, and limited diets.

Methods—We use multivariate models to determine the relationships between lipid levels and markers of infection and inflammation. Adult Tsimane (N = 418, age 20–84) were characterized for blood lipids, cells, and inflammatory markers in relation to individual loads of parasites and …

Ua37/29 Gary Ransdell - Fed. Reserve Board - Challenges For The Economy & State Governments, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's speech Challenges for the Economy and State Governments.

Texas Tech University Health Sciences Center -- El Paso (Ttuhsc-Ep): 2010 Economic Impact On El Paso, Texas, David A. Schauer, Elizabeth K. Gibson

IPED Technical Reports

No abstract provided.

Rhode Island Current Conditions Index — August 2010, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Does Race Based Redistricting Matter For Policy?, Ebonya Washington

University of Kentucky Center for Poverty Research Discussion Paper Series

During the 1990 congressional redistricting many states were mandated to create additional majority minority-resident districts in order to elect more minorities to Congress. Civil rights groups and Republicans cheered. The Party views Democratic districts stripped of Black voters as opportunities to repaint blue districts red. The academic literature agrees, attributing the Republican return to House control in 1994 to race based redistricting. However, this literature generally focuses on the district as the unit of analysis, a focus that is too narrow, as some districts gain Black residents while others lose them. I focus on states, the level at which redistricting …

Poverty, Inequality And Cost Of Living Differences, Enrico Moretti

University of Kentucky Center for Poverty Research Discussion Paper Series

Metropolitan areas in the US are characterized by enormous differences in average income, earnings, and factor productivity. The income of individuals located in metropolitan areas at the top of the income distribution is more than double the income of observationally similar individuals located in metropolitan areas at the bottom of the distribution. These differences reflect, at least in part, variation in local productivity.

Application Of Regime-Switching And Structural Break Models In Financial Economics, Chengping Zhang

Faculty Publications - College of Business

This dissertation consists of two manuscripts. In the first manuscript, we use multivariate regime-switching models to investigate the portfolio performance benefits associated with the addition of emerging market and developed market mutual funds to a global investor. Our approach admits time-varying risk and returns in a regime-switching model with both global equity market and foreign exchange risk factors. Conditional performance, as measured by a state dependent Jensen’s alpha, varies by economic regimes. Emerging market mutual funds provide strongly positive and significant state dependent alphas when the idiosyncratic volatility of emerging markets is small. Ignoring the existence of regimes could potentially …

So2 Policy And Input Substitution Under Spatial Monopoly, Shelby Gerking, Stephen F. Hamilton

Economics

Following the U.S. Clean Air Act Amendments of 1990, electric utilities dramatically increased their utilization of low-sulfur coal from the Powder River Basin (PRB). Recent studies indicate that railroads hauling PRB coal exercise a substantial degree of market power and that relative price changes in the mining and transportation sectors were contributing factors to the observed pattern of input substitution. This paper asks the related question: To what extent does more stringent SO2 policy stimulate input substitution from high-sulfur coal to low-sulfur coal when railroads hauling low-sulfur coal exercise spatial monopoly power? The question underpins the effectiveness of incentive-based environmental …

Economic Impact Of Arts And Culture In St. Petersburg, Maling Ebrahimpour, John Collins, Maria Luisa Corton

USF St. Petersburg Campus Faculty Publications

This report presents an analysis based on the input-output method to estimate the economic impact of the arts and culture business cluster in the Saint Petersburg area. The method consists of considering the economic linkages between the various sectors which cause every dollar of expenditures to "ripple through" the local economy resulting in every dollar of expenditures being multiplied to various degrees. The outcome is a larger economic effect than the initial expenditure. These "multiplier" effects continue to contribute to the economic impact of the expenditure until the effects "leave" the area of study or become too small to measure. …

Efficiency Gains From Transferable Water Rights, Joseph Ziska

All Theses

In times of drought, mandatory water restrictions are a popular option for local governments to prevent water shortages. The state of South Carolina has had mandatory water restrictions in various counties for nearly a third of the past decade. If there are heterogeneous consumers with varying marginal valuations for water, these mandatory restrictions may be economically inefficient. I calculate what welfare gains could be achieved for the state by allowing prices to fluctuate instead of imposing mandatory restrictions.
To perform this calculation, I assume a basic quadratic demand function for water with constant income elasticity. The water restrictions force all …

History-Disappointment Risk Attitude, David Dillenberger, Kareen Rozen

Cowles Foundation Discussion Papers

We propose a model of history-dependent risk attitude, allowing a decision maker’s risk attitude to be affected by his history of disappointments and elations. The decision maker recursively evaluates compound risks, classifying realizations as disappointing or elating using a threshold rule. We establish equivalence between the model and two cognitive biases: risk attitudes are reinforced by experiences (one is more risk averse after disappointment than after elation) and there is a primacy effect (early outcomes have the greatest impact on risk attitude). In dynamic asset pricing, the model yields volatile, path-dependent prices.

Should Auctions Be Transparent?, Dirk Bergemann, Johannes Hörner

Cowles Foundation Discussion Papers

We investigate the role of market transparency in repeated first-price auctions. We consider a setting with independent private and persistent values. We analyze three distinct disclosure regimes regarding the bid and award history. In the minimal disclosure regime each bidder only learns privately whether he won or lost the auction. In equilibrium the allocation is efficient and the minimal disclosure regime does not give rise to pooling equilibria. In contrast, in disclosure settings where either all or only the winner’s bids are public, an inefficient pooling equilibrium with low revenues exists.

Mediation And Peace, Johannes Hörner, Massimo Morelli, Francesco Squintani

Cowles Foundation Discussion Papers

This paper brings mechanism design to the study of conflict resolution in international relations. We determine when and how unmediated communication and mediation reduce the ex ante probability of conflict, in a simple game where conflict is due to asymmetric information. Unmediated communication helps reducing the chance of conflict as it allows conflicting parties to reveal their types and establish type-dependent transfers to avoid conflict. Mediation improves upon unmediated communication when the intensity of conflict is high, or when asymmetric information is large. The mediator improves upon unmediated communication by not precisely reporting information to conflicting parties, and precisely, by …

The Value Of Luminosity Data As A Proxy For Economic Statistics, Xi Chen, William D. Nordhaus

Cowles Foundation Discussion Papers

One of the pervasive issues in social and environmental research has been to improve the quality of socioeconomic data in developing countries. Because of the shortcoming of standard data sources, the present study examines luminosity (measures of nighttime lights) as a proxy for standard measures of output. The paper compares output and luminosity at the country levels and at the 1° x 1° grid-cell levels for the period 1992-2008. The results are that luminosity has very little value added for countries with high-quality statistical systems. However, it may be useful for countries with the lowest statistical grades, particularly for war-torn …

Measurement Issues Arising From The Growth Of Globalization: Conference Summary, Susan N. Houseman, Kenneth F. Ryder Jr.

External Papers and Reports

No abstract provided.

Should Auctions Be Transparent?, Dirk Bergemann, Johannes Hörner

Cowles Foundation Discussion Papers

We investigate the role of market transparency in repeated first-price auctions. We consider a setting with private and independent values across bidders. The values are assumed to be perfectly persistent over time. We analyze the first-price auction under three distinct disclosure regimes regarding the bid and award history. Of particular interest is the minimal disclosure regime, in which each bidder only learns privately whether he won or lost the auction at the end of each round. In equilibrium, the winner of the initial auction lowers his bids over time, while losers keep their bids constant, in anticipation of the winner’s …

Should Auctions Be Transparent?, Dirk Bergemann, Johannes Hörner

Cowles Foundation Discussion Papers

We investigate the role of market transparency in repeated first-price auctions. We consider a setting with independent private and persistent values. We analyze three distinct disclosure regimes regarding the bid and award history. In the minimal disclosure regime each bidder only learns privately whether he won or lost the auction. In equilibrium the allocation is efficient and the minimal disclosure regime does not give rise to pooling equilibria. In contrast, in disclosure settings where either all or only the winner’s bids are public, an inefficient pooling equilibrium with low revenues exists.

Trade Restrictiveness And Deadweight Losses From Us Tariffs, Douglas A. Irwin

Dartmouth Scholarship

This paper calculates a trade restrictiveness index, i.e., the uniform tariff that yields the same welfare loss as an existing tariff structure, for nearly a century of US data. The results show that the average tariff understates the TRI by about 75 percent. The static deadweight loss from US tariffs is about 1 percent of GDP after the Civil War, but falls almost continuously thereafter to less than one-tenth of 1 percent of GDP. Import duties produced an average welfare loss of 40 cents for every dollar of revenue, slightly higher than contemporary estimates of the marginal cost of taxation. …

Review Of Brooks, Stephen, Ed., Montgomery And The Battle Of Normandy: A Selection From The Diaries, Correspondence And Other Papers Of Field Marshal The Viscount Montgomery Of Alamein, January To August 1944, James V. Koch

Economics Faculty Publications

(First Paragraph) The stated goal of Montgomery and the Battle of Normandy is to "bring together the most important Bernard Montgomery documents for the period 1 January to 20 August 1944, reproduce each of the chosen documents in full and arrange them in a straightforward chronological order" (p. x). It is fair to say this volume achieves this goal, even though a batch of Montgomery documents already reproduced in full in other volumes was not included here.

Recovery, Leadership Efforts, And The Casino Industry In The Mississippi Gulf Coast Region After Hurricane Katrina, Ethan Jon Joella

Dissertations

The purpose of this study is to examine the following three interlocking areas of theory: a) casinos as economic engines; b) tourism recovery following a disaster or negative event; and, c) economic/social characteristics that facilitate recovery after disasters generally. This study examines the necessary ingredients for a speedy disaster recovery (typified in the casino industry on the Mississippi Gulf Coast).

This study employs a qualitative interview design with elite interviewing to test the theory and provide evidence and context to it. With interview questions informed by Rubin’s three elements that influence the recovery process within a community (Rubin as cited …

General Assistance Recipients And Welfare-To-Work Programs: Evidence From New York City, John Ifcher

Economics

General Assistance (GA) programs are virtually unstudied. Yet, GA programs serve an economically vulnerable, non-trivial population that should be of interest. To begin to address this shortcoming, two welfare-to-work programs, in which GA recipients participated, are studied. Using a quasi-experimental approach, the effect of each program on welfare use and employment is estimated. The results indicate that each program significantly increased welfare exits and that the second program significantly increased employment (employment data was unavailable for the first program).

Metropolitan Report - August 2010, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

The Ohio Energy Industry: Analysis Of The Ohio Energy Business Inventory Survey, Merissa C. Piazza

All Maxine Goodman Levin School of Urban Affairs Publications

No abstract provided.

Comparison Of Implied Volatility Approximations Using 'Nearest-To-The-Money' Option Premiums, Joseph Ewing

All Theses

Implied volatility provides information which is useful for not only investors, but farmers, producers, manufacturers and corporations. These market participants use implied volatility as a measure of price risk for hedging and speculation decisions. Because volatility is a constantly changing variable, there needs to be a simple and quick way to extract its value from the Black-Scholes model. Unfortunately, there is no closed form solution for the extraction of the implied volatility variable; therefore its value must be approximated. This study investigated the relative accuracy of six methods for approximating Black-Scholes implied volatility developed by Curtis and Carriker, Brenner and …

Revisiting The Impact Of The Designated Hitter On Major League Baseball, Andrew Cooley

All Theses

In 1973, team owners in Major League Baseball's American League voted in favor of introducing the designated hitter into their offensive lineups. The National League owners voted against such a rule change that year and since on several different occurrences. Baseball fans, sportswriters, players, owners, economists and others have weighed in on the impact of the designated hitter rule change on Major League Baseball. Chapter One of this paper reviews recent published writings by economists on the impact of the designated hitter. Team owners gave several reasons for advocating the dramatic designated rule change in the American League. Chapter Two …