Economics Commons^™

Can One Size Fit All? An Application Of Management Theory On The European Sovereign Debt Crisis, Amanda Grayson

Honors College Theses

The European Union is a combination of twenty-seven different and unique cultures under one common government. Can culture help explain the continued problems emanating from the European debt crisis?

In undergraduate management courses around the world, from Harvard University to Beijing International, eager young minds are taught the same fundamental management theories. Among others, one of the most popular would inevitably be Hofstede’s Cultural Dimensions.

Geert Hofstede, while working for the IBM research department, undertook a detailed survey and analysis of the various cultures of the world. He defined four dimensions of culture, now expanded to six, that can be …

A High Stakes Gamble In North Las Vegas, Robert E. Lang

Lincy Institute Reports and Briefs

The City of North Las Vegas, operating in the shadow of the Las Vegas Strip, one of the world’s most iconic urban settings, faces a series of financial and political challenges that threaten its ability to perform basic municipal services. This paper explores how North Las Vegas reached the edge of insolvency, the implications for North Las Vegas and the surrounding municipalities of Las Vegas, Henderson, and unincorporated Clark County, and the path forward in the face of unprecedented economic and political turmoil.

Obstacles To Dieting Behavior, Shahram Heshmat

Journal of Food Law & Policy

Despite documented short term success, dieting has a very low success rates, most dieters regain their weight back within 3-5 years. The question is why do people fail to stick to their goal for eating a healthy diet in order to lose weight? One possible answer is that people have self-control problems in the form of a present-biased preference. From a prior perspective, they want to behave relatively patiently, but as the moment of action approaches, they want to behave relatively impatiently. The essay presents some insights from behavioral economics to explain why people fail to maintain healthy behavior.

A Lagrange Multiplier Test For Cross-Sectional Dependence In A Fixed Effects Panel Data Model, Badi Baltagi, Qu Feng, Chihwa Kao

Center for Policy Research

It is well known that the standard Breusch and Pagan (1980) LM test for cross-equation correlation in a SUR model is not appropriate for testing cross-sectional dependence in panel data models when the number of cross-sectional units (n) is large and the number of time periods (T) is small. In fact, a scaled version of this LM test was proposed by Pesaran (2004) and its finite sample bias was corrected by Pesaran, Ullah and Yamagata (2008). This was done in the context of a heterogeneous panel data model. This paper derives the asymptotic bias of this scaled version of the …

Capitalization Structure: The Effects Of Leverage On Growth Prospects, Laura Cawley, Roers Janku

Renée Crown University Honors Thesis Projects - All

In this paper we quantitatively analyzed capital structure to lead to an understanding of the effects of debt within capital structure. Utilizing EBITDA growth as a proxy for the effects of leverage, we quantitatively analyzed the impact of the capitalization decision. Through the use of a model we analyzed 180 companies to come to conclusions about the EBITDA growth rate necessary as determined by leverage.

The Settlers Of Catan And A Study Of Trade In Non-Cooperative Games, Dmitriy Ioselevich

Renée Crown University Honors Thesis Projects - All

Free trade has long been hailed as the world’s answer to increased competitiveness, greater overall wealth and a higher standard of living. Adam Smith’s ideas on the foundations of capitalism assert that open market policies lead to global economic growth, and conversely that protectionist measures stunt growth and inflate prices. Critics argue that protectionism helps protect developing markets and industries and prevents unfair competition. But in the debate over trade which economic policy is actually best?

To answer this question I conducted an experiment using the board game, The Settlers of Catan, as an economic model. I isolated trade …

Governance And Executive Compensation In Nonprofits, Kevin F. Hallock

Economics Faculty Publications

Corporate governance has attracted much attention lately, justifiably many would argue. In the past couple decades, important legislative changes and public pressure have driven rapid changes in board governance and reporting, much focused on executive compensation, in particular. Still, there seems to be less focus on these issues in nonprofit organizations. This despite the fact that more than one-quarter of Americans volunteered through or for an organization last year, with the likely majority of these organizations being nonprofits. Adjusting for organization size, however, cash pay is not that different in for-profits and nonprofits. Resources exist for helping nonprofit boards govern …

The Effect Of Weighting Development Indicators On Countries Eligibility For International Development Funding: The Case Of The Millennium Challenge Corporation (Mcc), Idrissa Noma

Graduate Theses and Dissertations

The Millennium Challenge Corporation (MCC) is a U.S. government agency whose purpose is to promote economic growth and reduce poverty in low and low middle-income countries. It uses indicators to endorse countries eligibilities for international development funding. These indicators are related to economic growth and are developed by independent third parties (e.g., United Nations, World Bank), to evaluate a country's policy performance in three specific areas: (1) Ruling Justly, (2) Investing in People, and (3) Encouraging Economic Freedom (MCC, 2011). The MCC weighs indicators equally regardless of their myopic in-country relevancy to economic development. The goal of this study is …

Sports Economics - The Economic Impact Of The Nba's Thunder On Oklahoma City, David Noudaranouvong

Economics Undergraduate Honors Theses

What kind of significance do sports serve? This research project will investigate further into one of the many different answers to this broad question, specifically in the economic sense. Exactly what kind of impact can a single sports team have on a single city’s economy? I will investigate just what a sports team can mean for a city’s financial status as a result of its sports-stimulated economy. What is the best way to analyze this impact? For the purpose of this research project, I will take into account the economic state before and after the National Basketball Association’s incorporation into …

The Economic Impact Of Right-To-Work Laws On Employment And Living Standards In The State Of Arkansas, Brinkley Cook-Campbell

Economics Undergraduate Honors Theses

This reaseach paper looks at the effect that right-to-work laws have had on the economy of Arkansas. Analysis reveals that RTW laws have no effect on unemployment, labor force participation, and wage growth. However, RTW laws do have an economic impact on population growth in certain periods, as well as increased rates of GDP growth. This paper concludes that RTW has been good for Arkansas.

The Human Opportunity Index And Income Inequality In Brazil, Joseph Van Matre

Economics Undergraduate Honors Theses

This study calculates the Human Opportunity Index (HOI) proposed by de Barros et al. (2009) and a Gini Index of household income using nationally representative data from Brazil for the years 2001 to 2008. Macroregional HOIs and Gini Indexes were also calculated for the years 2001, 2005, and 2008. No statistically significant, linear trends were found over the eight year period for national HOIs. A statistically significant, linear, downward trend was found for the Gini Index of household incomes. Also, there was a statistically significant decrease in the macroregional variance of HOI scores, indicating a convergence of opportunity equity among …

A Brighter Future: The Impact Of Charter School Attendance On Student Achievement In Little Rock, Karen Brown

Economics Undergraduate Honors Theses

This thesis analyzes what affects charter school attendance has on standardized test scores of public and charters in Little Rock, Arkansas. Policy implications and avenues for further research are also discussed.

Demand Shifting Across Flights And Airports In A Spatial Competition Model, Diego Escobari, Sang-Yeob Lee

School of Economics and Finance Faculty Publications

This paper investigates the nature of day-to-day competition between flights using a unique panel data set on prices and inventories. We use instrumental variables methods and several spatial autoregressive models (SAR) to estimate price reaction functions. The primary source of product differentiation is departure time. After controlling for flight-specific characteristics and various sources of price dispersion, we find important evidence of demand shifting between competing flights. Most of the shift is being captured by flights scheduled to depart within a 3-hour window. We find no evidence of demand shifting between airports.

Global Savings And Global Investment: The Transmission Of Identified Fiscal Shocks, James Feyrer, Jay Shambaugh

Dartmouth Scholarship

This paper examines the effect of exogenous shocks to savings on world capital markets. Exogenous tax increases in the United States (from Romer and Romer 2010) are only partially offset by changes in domestic private savings, and only a small amount is absorbed by increased domestic investment (contra Feldstein and Horioka 1980). Almost half the change in taxes is transmitted abroad through a change in the US current account. Other countries experience decreases in current accounts and increases in investment in response to exogenous US tax increases. We cannot reject symmetric responses across countries with different currency regimes and levels …

Financial Knowledge And Financial Literacy At The Household Level, Alan L. Gustman, Thomas L. Steinmeier, Nahid Tabatabai

Dartmouth Scholarship

There is evidence of a relation between numeracy and wealth held outside of pensions and Social Security. With pensions and Social Security accounting for half of wealth at retirement, and evidence that those with pensions save more in other forms, one would expect to find knowledge of pensions and Social Security influencing retirement saving. Yet we find no evidence that knowledge of pensions and Social Security is related to nonpension, non-Social Security wealth, to numeracy, or that it plays an intermediate role in the numeracy-wealth relation. Our findings raise questions about policies that would enhance numeracy to increase retirement saving.

Simple Ecosystem Service Valuation Can Impact National Forest Management, David E. Ervin, Gary Larsen, Craig Shinn

Economics Faculty Publications and Presentations

This essay is about how a relatively simple application of the ‘new scarcity’ paradigm for non-market ecosystem services (Simpson, Toman and Ayres 2005) changed the management plan for a national forest. We identify lessons from our experience for AERE members.

Arsenic Contamination In Groundwater In Vietnam: An Overview And Analysis Of The Historical, Cultural, Economic, And Political Parameters In The Success Of Various Mitigation Options, Thuy M. Ly

Pomona Senior Theses

Although arsenic is naturally present in the environment, 99% of human exposure to arsenic is through ingestion. Throughout history, arsenic is known as “the king of poisons”; it is mutagenic, carcinogenic, and teratogenic. Even in smaller concentrations, it accumulates in the body and takes decades before any physical symptoms of arsenic poisoning shows. According to the World Health Organization (WHO), the safe concentration of arsenic in drinking water is 10 µg/L. However, this limit is often times ignored until it is decades too late and people begin showing symptoms of having been poisoned.

This is the current situation for Vietnam, …

Metropolitan Report - May 2012, Division Of Business And Economic Research, College Of Business Administration, University Of New Orleans

UNO Metropolitan Report (1986-2017)

No abstract provided.

Estimation Of Beta In A Simple Functional Capital Asset Pricing Model For High Frequency Us Stock Data, Yuzhe (Yan) Zhang

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This project applies the methods of functional data analysis (FDA) to intra-daily returns of US corporations. It focuses on an extension of the Capital Asset Pricing Model (CAPM) to such returns. The CAPM is essentially a linear regression with the slope coefficient β. Returns of an asset are regressed on index return. We compare the estimates of β obtained for the daily and intra-daily returns. The variability of these estimates is assessed by two bootstrap methods. All computations are performed using statistical software R. Customized functions are developed to process the raw data, estimate the parameters and assess their variability. …

Options Vs. Futures: Which On Average Will Have The Greater Payoff?, Ryan Silvester

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The use and idea of futures contracts has been around for almost as long as humans have existed. Many of these contracts can be as simple as the shaking of someone’s hand with the agreement to trade an asset for an agreed upon price in the future. These contracts have often been used by farmers to ensure a needed price for an asset, or for a store owner to ensure a needed asset for a given price. The idea of a futures contract is to either buy or sell an asset later on at a specified price. In this paper …

How Are Interest Rates Affecting Household Consumption And Savings?, Lacy Christensen

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This paper explores the optimal interest rates that could potentially maximize overall consumption and savings. I attempt to determine whether artificially low interest rates are positively or negatively affecting consumption. There has been speculation on whether the United States needs to raise the effective federal funds rate to provide financial institutions the incentive to lend money and increase household consumption. The Federal Reserve is currently keeping the effective funds rate between 0 and .25 in hopes of increasing consumption levels. This paper uses fifty years of interest rate data to narrow in on an optimal interest rate that leads to …

The Greek Financial Crisis: An Overview Of The Crisis In Entirety And Proposed Measures: Recommended Solutions And Results, Androniki Podaras

Honors College Theses

This paper examines the Greek financial crisis from 2009 in entirety and analyzes the best option for economic growth from this point forth. The history and culture of Greece is discussed, along with a background of the economy and several economic policies that led to the increased debt levels and the poor economic health of the country. The Gross Domestic Product of Greece and the inflation levels are analyzed to show the changes and signs of poor economic health, and one that was affected by the entry into the Eurozone in 2000.

Then, I discuss how this led to the …

The Fiscal Forensics Of The Las Vegas Strip Lessons From The Financial Crisis, Dean M. Macomber

Occasional Papers

Hitting with the force of a 100-year storm, the first two years of the financial crisis caused a $5.2 billion swing from profitability to loss for the top 22 performing Las Vegas Strip properties between peak fiscal year 2007 and 2009. By fiscal year 2011 visitor count had almost climbed back to peak levels but the aggregate loss is still stubbornly high at $ -1.6 billion. Other signs of recovery trickle in but are sporadic and volatile. This article is an attempt to disaggregate the variance and look at where Las Vegas has been, where it is now and how …

Four Flaws In New York State’S Property Taxes And How To Fix Them: Star, 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.

Essays On International Trade And Finance, Amat Adarov

Graduate Theses and Dissertations

The dissertation consists of three papers exploring the macroeconomic implications of heterogeneity of countries in financial development, economic interconnectedness via trade and financial linkages.

Chapter 1 examines whether countries which are more centrally located in the global trade network have more synchronized stock markets. Global trade data is used to construct a novel measure of random walk betweenness centrality (RWBC), measuring the extent to which a country lies on random pathways in-between other countries and is therefore likely to be a conduit in the transmission of a shock across global markets. Based on a panel dataset of 58 countries over …

The Effects Of Property Rights On Ocean Resources: Two Possible Solutions To The Tragedy Of The Commons, Nathan David Miller

Honors Program Theses

Property rights affect how people use resources. Enforcement regimes are able to set clear laws with well-defined property rights. Governments set laws for conservation and economic success. Ocean resources suffer from overuse. Industry and the environment both benefit from regulations that promote ocean conservation. This paper will analyze how the current state of ocean property rights leads to the depletion of ocean resources. Though there are many possible solutions to overfishing, I will analyze two potential solutions to overexploitation in the commercial fishing industry: marine protected areas (MP As) and individual transferable quotas (ITQs ). A synthesis of previous research …

Too Big Not To Fail: United States Corporate Media And The 2008 Financial Crisis, Justin Lars Bergh

Graduate Theses and Dissertations

This thesis investigates United States newspaper coverage of the 2008 financial crisis, with a particular focus on the debate that took place in press coverage surrounding the proposed 700 billion dollar Troubled Asset Relief Program (TARP). Specifically, this study aims to understand how, when faced with a crisis that threatened hegemony, the state and economic elites, working in and through media, were able to effectively convince the subordinate classes to consent to state intervention aimed at perpetuating a financial system that has historically profited from the relative financial insecurity of the subordinate classes. In order to understand media's role in …

Essays In Public Economics, Kathleen Player

All Dissertations

The first two chapters of this dissertation are closely related and pertain to small business reactions to income tax changes. The final chapter investigates the value consumers place on residential community associations.
Small businesses file taxes in accordance with the personal income tax code because they are considered flow-through entities. Thus, personal income tax reforms directly affect the incentives small business owners face regarding employment and operations. I use the changes in personal income-tax rates during the 1993 and 2001-2003 reforms and micro-level data to estimate the effect of statutory tax-rate changes on small-business employment decisions. I add two contributions …

The Influences Of Syndication On Broadcast Programming Decisions, Christina Whitehead

All Dissertations

Syndication is a major factor in the market for television programming. These papers analyze the effects of the off-network syndication market on prime time programming decisions that are made by broadcast networks. The first paper investigates the effects of the off-network syndication (rerun) market on the optimal number of seasons for a prime time television series. The theoretical model predicts that syndication could potentially either increase the number of seasons if the price elasticity of demand for syndication is elastic or vice versa. The empirical analysis consists of a duration model and estimates the effects of first run ratings and …

The Demand For Green Cards, Richard Bruns

All Dissertations

I estimate the demand curve for Legal Permanent Residence in the US, and the government revenues and migrant welfare gains that could be achieved by replacing all or parts of the current immigration system with a Uniform Price Auction. Willingness to pay and welfare are based on the net present value of the difference in income that people earn in the US compared to other countries. I obtain an equilibrium annual demand curve by modeling the dynamics of how pent-up demand for residence responds to the introduction of an auction for residence permits. I separately estimate the demand curves for …