Economics Commons^™

Insuring Corn In South Dakota, Matthew Diersen

Economics Commentator (1972- 2016)

No abstract provided.

A Basic Analysis Of Entry And Exit In The Us Broadband Market, 2005-2008, James Prieger, Michelle Connolly

School of Public Policy Working Papers

We conduct a basic yet thorough analysis of entry and exit in the US broadband market, using a complete FCC census of providers from 2005 to 2008. There is a tremendous amount of (simultaneous) entry and exit in the US broadband market. Most entry is from existing providers expanding into new geographic areas. Entry and exit vary widely across the various modes of provision, which argues against treating broadband as a homogenous service in theoretical or empirical work. The highest entry rates also generally have the highest entrant shares. Entry rates display positive autocorrelation, and the same is true for …

A Cross-Country Analysis Of Unbanked Within The Oecd, Nathanael D. Peach, Andrew D. Van Der Werff, Jeanne M. Hogarth

Faculty Publications - College of Business

Financial inclusion has been extensively researched on a nation-by-nation basis. The recently released Global Findex data set from the World Bank allows for this literature to be extended because it creates universal measures of relevant data. Because data are universal, it allows multiple nations to be analyzed simultaneously. Using a set of thirty-one countries from the OECD, we find that social factors are an important part of highly banked populations. Higher levels of trust in government and formal financial institutions increase the level of financial inclusion. Increases in income inequality are predicted to decrease the banked population within a nation. …

A Proposal For Developing An Arts And Cultural District In East Providence, Rhode Island, Lisa Bruce, Nicole Bush, Gregory Ehlinger, Kenya Fullen, Jonathan Lax, Susan Leonardi, Ana Santana, Neuci Silva, Eric Jacobs

Community Development

In an effort to prevent social polarization within the East Providence community amongst various social groups, we are recommending that the project target multiple census tracts in East Providence and the east side area of Providence. These census tracts are comprised of high-income and low-income families and individuals of all ages. Specifically, there are seniors who live within the neighborhood who might take advantage of expanded opportunities if they felt the area was safe and accessible.

Trinity Restoration Inc.: Southside Cultural Center Economic Impact Study, Joel Cooper, Alexi Schwartzkopff, Victoria Moradsky, Billy Keeley, Mohannad Aldaham, Arnold Robinson

Business

Economic development has shifted from location-oriented business models towards a more all-encompassing model that recognizes the advancement of human capital or intellectual property as continuously increasing in value. This microcosmic characteristic of development extends to aid in the growth of society as a whole. The Arts and Culture attract a demographic of inspired and motivated people to the area. It results in the development of the society surrounding art venues. The general population will always seek out entertainment, by installing a venue of artistic expression in South Providence that will motivate the community and propel development. This phenomena has been …

Snap And Obesity, Craig Gundersen

University of Kentucky Center for Poverty Research Discussion Paper Series

No abstract.

Price Barriers In The Stock Market And Their Effect On The Black-Scholes Option Pricing Model, Nathan A. Blyler

Gettysburg Economic Review

The predicted price of an American option by the Black-Scholes (B-S) Option Pricing Model is known to differ from the market price of that option systematically with respect to time to expiration, distance in- or out-of-the-money, and liquidity of the option. We examine the possibility of price barriers in the stock market causing further systemic pricing differences between the market price and B-S predicted price. These differences occur when an option’s strike price is near a price barrier and differ in effect and significance depending on the position of the barrier relative to the underlying stocks’ price. We find round …

Renewable Resource Extraction: Experimental Analysis Of Resource Management Policies Under Assumptions Of Resource Migration, Kevin B. Lugo

Gettysburg Economic Review

This paper presents research using a spatially explicit and dynamic common pool resource experiment to compare renewable resource extraction behavior between four treatments combining (1) open access and sole ownership institutions with (2) mobility and non-mobility of the renewable resource. The primary purpose of this research is to test the theory that introducing resource mobility into a sole ownership regime will remove the incentive for subjects to maximize the resource, instead causing them to revert to the myopic strategy predicted for the open access regime. I also test the hypothesis that open access firms are indifferent to resource dispersal. The …

The Economic Impact Of Stadia And Teams: The Case Of Minor League Baseball, Nola Agha

Sport Management

This paper uses an extensive unique dataset to investigate the justification of government subsidies for minor league baseball teams and stadiums by measuring pecuniary gains in a local economy. Specifically, a dynamic panel data model incorporating 238 Metropolitan Statistical Areas that hosted affiliated or independent minor league teams between 1985 and 2006 shows that AAA teams, A+ teams, AA stadiums, and rookie stadiums are all associated with significant positive effects on the change in local per capita income. The presence of positive effects is strikingly different from decades of non-positive results at the major league level.

The Effects Of College Education On Career Earnings In The Nba, George Langelett, Kuo-Liang Chang, Michael Haupert

Economics Faculty Publications

The purpose of our research is to investigate whether the high school basketball player is better off attending or forgoing his college career to enter the NBA directly out of high school. We measure "better off' by total salary earned in the first ten years of a player's NBA career. Using both OLS and a Heckit model, to control for possible sample selection bias, our results suggest that although college is an investment period for athletes, rational athletes do understand the opportunity cost of each year spent in college, with the most talented players forgoing their college education altogether.

The Theory Of Planned Behavior And Financial Literacy: A Predictive Model For Credit Card Debt?, Brian P. Kennedy

Theses, Dissertations and Capstones

The primary purpose of this study was to predict credit card debt among college students by augmenting Ajzen’s (1991) theory of planned behavior to include the construct of financial literacy. One hundred and forty-three undergraduates completed an online survey measuring attitudes toward credit cards, subjective norms, perceived behavioral control, and financial literacy. Statistical analyses revealed that attitudes toward credit, subjective norms, and perceived behavioral control successfully predicted students’ intention to use credit cards (R²=.32). Financial literacy failed to predict intention to use credit cards. However, a positive correlation was found between attitudes toward credit cards and amount of …

Universal Service: Competition, Interconnection And Monopoly In The Making Of The American Telephone System, Milton Mueller

Books

This book, based on years of archival research at the AT&T/Bell Labs in the aftermath of the divestiture, was originally published in 1997 as part of the MIT Press/AEI Series on Telecommunications Regulation. Acclaimed by reviewers such as Lawrence Lessig as “extraordinary” and “a crisply written mix of history and clear theory,” the small press run was sold out by 2002. Nevertheless, every year I encountered people who asked where they could get copies. The AEI series had long come to an end, its funds gone and its editorial team disbanded, making a new press run all but impossible.

It …

Teacher Qualifications And Student Achievement: A Panel Data Of Analysis, Trevor Collier

Economics and Finance Faculty Publications

Recent academic research suggests that teacher quality plays an important role in student achievement: however, empirical research on the efficacy of policies requiring teachers to obtain certain degrees is inconclusive, particularly in elementary education. This paper models a panel data production function with fixed effects using the Early Childhood Longitudinal Study (ECLS-K) to asses the relationship between different undergraduate and graduate majors and elementary student test scores. Specifcally, we aim to discern if there is a difference in teacher efficacy within the different education related majors (e.g. early childhood education and elementary education) and between education and non-education related majors.

The Pittsburg Micropolitan Area Economic Report, Quarter 4, 2013, Pittsburg State University. Gladys A. Kelce College Of Business

Pittsburg Micropolitan Reports

The Pittsburg Micropolitan Area Economic Report is created by the Business and Economic Research Center (BERC) at Pittsburg State University.

The Gettysburg Economic Review, Volume 7, Spring 2013

Gettysburg Economic Review

No abstract provided.

China’S Local Government Debt And Economic Growth, Jia Qi Zhou

Gettysburg Economic Review

This paper explores the impact of China’s local government debt on economic growth. This analysis, based on a panel of 31 provinces over 14 years, takes into account a broad range of economic growth determinants as well as various estimation issues including heteroskedascity and omitted variable. The empirical results suggest an inverse relationship between China’s local government debt and economic growth, controlling for other determinants of growth: on average, a 10 percentage point increase in the debt-to-GDP ratio is associated with a slowdown in annual real per capita GDP growth of around 0.27 percentage points per year.

Integrated Modeling Frameworks: A Guide For Research Projects, Randall Jackson

Regional Research Institute Technical Documents

This document is intended to clarify the foundations of the IO and CGE analytical frameworks and procedures that underlie the NSF and USDA/NIFA funded research projects. It covers environmental data, life cycle assessment (LCA), input-output models (IO), structural decomposition analysis (SDA), social accounting matrix models (SAMs), and computable general equilibrium modeling (CGE).

Comparing Implementations Of Estimation Methods For Spatial Econometrics, Roger Bivand, Gianfranco Piras

Regional Research Institute Working Papers

Recent advances in the implementation of spatial econometrics model estimation techniques have made it desirable to compare results, which should correspond between implementations across software applications for the same data. These model estimation techniques are associated with methods for estimating impacts (emanating effects), which are also presented and compared. This review constitutes an up to date comparison of generalized method of moments (GMM) and maximum likelihood (ML) implementations now available. The comparison uses the cross sectional US county data set provided by Drukker, Prucha, and Raciborski (2011c, pp. 6-7). The comparisons will be cast in the context of alternatives using …

The Field In Ireland In 2014, Tom Dunne

Articles

Repossessions are an important part of recovery in the housing market

Experimental Markets With Frictions, Gabriele Camera, Marco Casari, Maria Bigoni

Economics Faculty Articles and Research

Decentralized and impersonal exchange is fundamental to contemporary economies, where many interactions take place among individuals with low levels of information about their counterpart. We review the experimental literature about markets with frictions, where strangers interact in pairs formed at random in economies of indefinite duration. We focus on the impact of communication on the efficiency of the outcome and report results of a new experiment.

Economics And The Bible, Roger S. Nam

Faculty Publications - Portland Seminary

At its essence, economics is the study of how societies make decisions on the allocation of limited resources. Whether subsistence, capitalist, socialist, or totalitarian, each society faces complex choices regarding the distribution of goods and utilities. In making such choices, economics involves the study of the various allocation processes such as production, consumption, exchange, forecasting, scarcity, and risk. But in all of these activities, economics is observable only through human behavior. Consequently, efforts to isolate economic behavior from social spheres are heuristic at best, misleading at worst. Economic decisions reflect deeper ideological values, hierarchies, and positions of power, often revealed …

The Role Of Policy Fundamentals In Fostering Economic Growth In Developing Countries, Minh Dao

Faculty Research and Creative Activity

This paper examines the role of policy fundamentals in fostering economic growth in developing countries. Based on data from the World Bank for the 2000-2011 period and a sample of sixty-two developing economies we find that the growth rate of per capita GDP is dependent on a country’s investments in human capital as measured by the share of the public sector in total health expenditure and by the relative size of public education in the government’s budget, on an enabling business environment as measured by two Doing Business indicators, namely the cost of starting a business as a percent of …

Challenges And Opportunities Of Health Care Supply Chain Management In The United States, Dean Elmuti, Grace Khoury, Omar Omran, Ahmed Abou-Zaid

Faculty Research and Creative Activity

This article explores current supply chain management challenges and initiatives and identifies problems that affect supply chain management success in the U.S. health-care industry. In addition, it investigates the impact of health care supply chain management (SCM) initiatives on the overall organizational effectiveness. The attitudinal results, as well as the performance results presented in this study support the claim of health care proponents that the SCM allows organizations to reduce cost, improve quality, and reduce cycle time, and leads to high performance.

Rhode Island Current Conditions Index -- January 2013, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Financial And Sovereign Debt Crises In Spain: Fiscal Limits And Spillovers, Alexandra Indarte

Economics Honors Projects

Sovereign debt crises have four consistent features: 1) financial crises tend to coincide with them; 2) they are followed by credit crunches; 3) the domestic costs of default are higher where financial institutions hold large portions of their sovereign's debt; and 4) sovereign risk premiums are countercyclical and exhibit nonlinear dynamics with respect to debt levels. These facts indicate that spillover between financial and debt crises are important means of amplifying economic downturns. Current models cannot replicate all four of these facts because they either lack investment, an endogenous fiscal limit on the accumulation of sovereign debt, or a nonlinear …

The Exercise Of Corporate Bond Clawbacks And Debt Renegotiation: An Empirical Analysis, Kenneth Daniels, Fernando Diaz, Gabriel G. Ramirez

Faculty Articles

Bond clawback provisions allow the issuer to partially redeem a bond issue often within three years of issuance using proceeds only from new equity issues. We document that clawback bonds are often renegotiated and clawbacks provisions are rarely exercised. We find that the probability of exercising an option increases if the firm is large and has lower levels of debt, the issue is large and if the issue was subject of renegotiation prior to the exercised date, the workout took the form of a cash tender offer. We find that the likelihood of renegotiation of an IPOC is positively associated …

Social Versus Conservative Democracies And Homicide Rates, Marcus Marktanner, Luc Noiset

Faculty Articles

Purpose – The purpose of this paper is to critique recent findings that democratic practices are positively related to homicide rates. Design/methodology/approach – Economic rational choice model supported by empirical evidence. Findings – It was found that higher homicide rates are only characteristic of democracies that fail to respond to the median voter's call for equitable social development. Originality/value – The paper makes an original distinction between conservative and social democracies, operationalizes this distinction theoretically and empirically, and shows that higher homicide rates are a phenomenon of conservative, not social, democracies.

Optimal Allocation Of Resources In Airport Security: Profiling Vs. Screening, Aniruddha Bagchi

Faculty Articles

No abstract provided.

Urbanization Forecasts, Effects On Land Use, Biodiversity, And Ecosystem Services, Burak Güneralp, Robert I. Mcdonald, Michail Fragkias, Julie Goodness, Peter J. Marcotullio, Karen C. Seto

Economics Faculty Publications and Presentations

Several studies in recent years have forecasted global urban expansion and examined its potential impacts on biodiversity and ecosystem services. The amount of urban land near protected areas (PAs) is expected to increase, on average, by more than three times between 2000 and 2030 (from 450,000 km² circa 2000) around the world. During the same time period, the urban land in biodiversity hotspots, areas with high concentrations of endemic species, will increase by about four times on average. China will likely become the nation with the most urban land within 50 km of its PAs by 2030. The largest …

Monetary Effervescence: A Sociological Theory Of Religion Applied To Money, David J. Worley

Electronic Theses and Dissertations

This project attempts to answer the question "What holds the construction of money together?" by asserting that it is money's religious nature which provides the moral compulsion for people to use, and continue to uphold, money as a socially constructed concept. This project is primarily descriptive and focuses on the religious nature of money by employing a sociological theory of religion in viewing money as a technical concept. This is an interdisciplinary work between religious studies, economics, and sociology and draws heavily from Emile Durkheim's The Elementary Forms of Religious Life as well as work related to heterodox theories of …