Economics Commons^™

Childhood Socialization And Political Attitudes: Evidence From A Natural Experiment, Andrew Healy, Neil Malhotra

Economics Faculty Works

Scholars have argued that childhood experiences strongly impact political attitudes, but we actually have little causal evidence since external factors that could influence preferences are correlated with the household environment. We utilize a younger sibling's gender to isolate random variation in the childhood environment and thereby provide unique evidence of political socialization. Having sisters causes young men to be more likely to express conservative viewpoints with regards to gender roles and to identify as Republicans. We demonstrate these results in two panel surveys conducted decades apart: the Political Socialization Panel (PSP) and the National Longitudinal Survey of Youth (NLSY). We …

Does Retirement Induced Through Social Security Pension Eligibility Influence Subjective Well-Being? A Cross-Country Comparison, Arie Kapteyn, Jinkook Lee, Gema Zamarro

Education Reform Faculty and Graduate Students Publications

How does retirement influence subjective well-being? Some studies suggest retirement does not affect subjective well-being or may improve it. Others suggest it adversely affects it. This paper aims at advancing our understanding of the effect of retirement on subjective well-being by (1) using longitudinal data to tease out the retirement effect from age and cohort differences; (2) using instrumental variables to address potential reverse causation of subjective well-being on retirement decisions; and (3) conducting cross-country analyses, exploiting differences in eligibility ages for retirement benefits across countries and within countries. We use panel data from the US Health and Retirement Study …

The End Of Cash, The Income Tax, And The Next 100 Years, Gregg D. Polsky, Jeffery H. Kahn

Scholarly Works

The income tax is technologically very similar to the way it was in its early years, and technological developments have been at the margins of the income tax and have not affected its core elements. Still, technological improvements have made third-party reporting and withholding more efficient, which has allowed these mechanisms to become more pervasively used. Technology has also made it easier for taxpayers to substantiate their activities. These changes have facilitated the evolution of the incometax from its original class tax to the mass tax it is today.

While further technological advances might improve the federal income tax, it …

Measuring Social Unrest Based On Income Distribution, Yoonseok Lee, Donggyun Shin

Center for Policy Research

This paper develops a social unrest measure by revising Esteban-Ray (1994, Econometrica) polarization index. For the purpose of measuring more effectively the level of social unrest that is generated by separation of income classes, the new index allows for asymmetry between the rich and the poor groups’ alienation feeling against the other, and it constructs a more effective group identification function. To facilitate statistical inferences, asymptotic distribution of the proposed measure is also derived using results from U-statistics, and an easy-to-implement jackknife-based variance estimation algorithm is obtained. Since the new index is general enough to include the Esteban-Ray index and …

Learning From Teen Childbearing Experiences Of Close Friends: Evidence Using Miscarriages As A Natural Experiment, Olga Yakusheva, Jason Fletcher

Economics Faculty Research and Publications

We examine peer effects in teen childbearing among close friends, using miscarriages as a natural experiment. We use 775 women from the core sample of Add Health who had a friend with a teen pregnancy. We find a sizable negative treatment effect – a close friend's teen birth is associated with a 6 percentage point reduction in the likelihood of own teen pregnancy and childbearing. There is evidence that this effect operates through a learning mechanism by changing beliefs regarding early childbearing. Effects of teen pregnancy prevention policies may be partially offset by reductions in the opportunities for social learning.

Acquário Ceará: The Future Of Tourism In Fortaleza, Elizabeth Duffield

Independent Study Project (ISP) Collection

In 2014, Fortaleza will put on display for the entire world to see as it is one of the Brazilian cities hosting the World Cup. In preparation for such a massive event and a staggering amount attention, the state of Ceará and the Secretary of Tourism embarked on a plan to develop tourism in Ceará and the capital city, Fortaleza, into a modern tourism destination. One project in progress, Acquário Ceará, will be largest aquarium in Latin America and the third largest aquarium in the world. Situated right on the coastline of Praia de Iracema in Fortaleza, the aquarium is …

El Papel De Ecoturismo En La Comunidad Nativa De Shintuya, Alto Madre De Dios, Peru: Las Percepciones De La Misma Comunidad, Dylan Barnes

Independent Study Project (ISP) Collection

Este informe examina el rol de ecoturismo en la comunidad nativa Shintuya, Madre de Dios, Perú. Para hacer eso, uso las percepciones de los mismos comuneros sobre el ecoturismo y el futuro de su comunidad. La comunidad y la región alrededor tiene muchas atracciones turísticas, y por eso hay un gran potencial de turismo para la comunidad. También hay una presencia de una empresa de petróleo, con que los comuneros están trabajando. En estas páginas siguientes, voy a argumentar que esta situación no es tan blanca y negra como parece. No hay un lado a favor y un lado en …

The Trajectory Of Warwick Junction As A Site Of Inclusivity In Post-Apartheid South Africa, Kara Van Schilfgaarde Van Schilfgaarde

Independent Study Project (ISP) Collection

Warwick Junction, a thriving trading hub in the inner city of Durban, has long been considered one of the best examples of collaborative urban management practices between the local government and informal traders. In a post-apartheid South Africa, there was a national desire to transform the old systems of governance, which in Warwick translated to city government institutions making an effort to include informal traders in the policymaking and management processes. This paper tracks the history of Warwick Junction, using its oppressive past to frame common perspectives of informal trade. It considers the legacy of the post-apartheid era South Africa, …

A Case Study Of Rural Finance Self-Help Groups In Uganda And Their Impact On Poverty Alleviation And Development, Rebecca Flynn

Independent Study Project (ISP) Collection

The purpose of this research was to assess the impact of financial Self-Help Groups (SHGs)on poverty alleviation and development in rural areasof Uganda and evaluate their successes, limitations, and potential for sustainability.An extensive literature review ofpovertyin Uganda, development theories and development in Uganda,andrural finance self-help group methodology and theorieswas conducted in order to provide a broader context for the research.

The participants in the research were members of SHGs in Central Uganda under the Self-Help Group Approach Uganda (SHGAU) organization andemployees of SHGAU.The primary methods were personal interviews and focus groups. Thesegave the researcher insight into the goals and structure …

Uganda’S Cotton And Textile Sectors: Current Production Challenges, Motivations And Effects On Development, Daniel Geiser Chell

Independent Study Project (ISP) Collection

Current policies promote value addition industries and increased cotton yields. On the ground, however, cotton production and textile industries continue to lag behind previous rates of production. The study therefore sought to understand the conditions contributing to the current economic climate of the cotton industry. Once context was established, the researcher explored factors both promoting and discouraging cotton cultivation. Finally, the research explores the developmental consequences of increasing cotton and textile production in Uganda. In order to meet the aforementioned objectives, the researcher carried out a value chain analysis of the cotton and textile industry, taking note of the policies …

Balancing Conservation And Development: A Case Study Of Economic Efficiency In Queen Elizabeth National Park, Uganda, Louisa Dunwiddie, R.Turner Shaw

Independent Study Project (ISP) Collection

This study is a comprehensive economic analysis of Queen Elizabeth National Park’s revenue and expenditures. Queen Elizabeth National Park is located in Southwest Uganda. It is the most visited park in Uganda, welcoming over 34,000 visitors annually and generating more than $1,705,000 US per year in tourist expenditures. The researchers spent three weeks in the field at Queen Elizabeth National Park, and three weeks in the capital city of Kampala, Uganda to assemble a collection of literature, statistics, and interviews with all stakeholders to fully analyze the national park’s current level of economic efficiency. The study includes data on stakeholder …

Overcoming Fear Of The ‘Other’, Tan K. B. Eugene

Research Collection Yong Pung How School Of Law

In a commentary about the political and economic changes in Myanmar, SMU Associate Professor of Law and NMP Eugene Tan opined that deep-seated sectarian conflict could prove to be the Achilles heel of Myanmar’s reforms. He noted that the mere introduction of democracy anywhere will not miraculously transform voters into fair-minded citizens and that democracy requires the rule of law, a minimal level of education and political maturity, or it would degenerate into the tyranny of majority rule where might is right. Associate Prof Tan said that Myanmar must guard against this tendency and embrace the rich diversity in its …

Nonparametric Regression Estimation With General Parametric Error Covariance: A More Efficient Two-Step Estimator, Liangjun Su, Aman Ullah, Yun Wang

Research Collection School Of Economics

Recently Martins-Filho and Yao (J Multivar Anal 100:309–333, 2009) have proposed a two-step estimator of nonparametric regression function with parametric error covariance and demonstrate that it is more efficient than the usual LLE. In the present paper we demonstrate that MY’s estimator can be further improved. First, we extend MY’s estimator to the multivariate case, and also establish the asymptotic theorem for the slope estimators; second, we propose a more efficient two-step estimator for nonparametric regression function with general parametric error covariance, and develop the corresponding asymptotic theorems. Monte Carlo study shows the relative efficiency loss of MY’s estimator in …

Detecting Bubbles In Hong Kong Residential Property Market, Matthew S. Yiu, Jun Yu, Lu Jin

Research Collection School Of Economics

This study uses a newly developed bubble detection method (Phillips, Shi, and Yu, 2011) to identify real estate bubbles in the Hong Kong residential property market. Our empirical results reveal several positive bubbles in the Hong Kong residential property market, including one in 1995, a stronger one in 1997, yet another one in 2004, and a more recent one in 2008. In addition, the method identifies two negative bubbles in the data, one in 2000 and the other one in 2001. These empirical results continue to be valid for the mass segment and the luxury segment. However, this method has …

An Exploratory Study On The Adoption And Use Of Ict In Myanmar, Sim Kim Lau, Graham K. Winley, Sim Yee Lau, Kim Song Tan

Research Collection School Of Economics

This exploratory study investigates the adoption and use of information and communication technologies in Myanmar by examining the nature and structure of the information technology profession. The investigation is based on a theoretical framework consisting of three components: domains of information technology professional expertise; the scope of the information technology professional’s knowledge, skills and experience; and specific knowledge and skills associated with the domains of professional expertise. The findings show that specialist skills in systems development, database, network and communications are important. This paper also provides insights that are not found in current literature which investigates information technology skills in …

Minimum Wage In A Deflationary Economy: The Japanese Experience, 1994-2003, Ryo Kambayashi, Daiji Kawaguchi, Ken Yamada

Research Collection School Of Economics

The statutory minimum wage in Japan has increased continuously for a few decades until the early 2000s even during a period of deflation. This paper examines the impact of the minimum wage on wage and employment outcomes under this unusual circumstance. We find that the minimum-wage increase resulted in the compression of the lower tail of the wage distribution among women and that the wage compression is only partially attributable to the loss of employment. The continuous increase in the minimum wage accounts for one half of the reduction in lower-tail inequality that occurred among women during the period between …

Nonparametric Dynamic Panel Data Models: Kernel Estimation And Specification Testing, Liangjun Su, Xun Lu

Research Collection School Of Economics

Motivated by the first-differencing method for linear panel data models, we propose a class of iterative local polynomial estimators for nonparametric dynamic panel data models with or without exogenous regressors. The estimators utilize the additive structure of the first-differenced model—the fact that the two additive components have the same functional form, and the unknown function of interest is implicitly defined as a solution of a Fredholm integral equation of the second kind. We establish the uniform consistency and asymptotic normality of the estimators. We also propose a consistent test for the correct specification of linearity in typical dynamic panel data …

Robust Virtual Implementation With Almost Complete Information, Takashi Kunimoto

Research Collection School Of Economics

Artemov, Kunimoto, and Serrano (2013a,b, henceforth, AKS) study amechanism design problem where arbitrary restrictions are placed on the setof first-order beliefs of agents. Calling these restrictions Δ, they adopt Δ-rationalizability (Battigalli and Siniscalchi (2003)) and show that Δ-incentivecompatibility and Δ-measurability are necessary and sufficient conditions forrobust virtual implementation. By appropriately defining Δ in order to restrictattention to complete information environments, I exploit the implicationsof AKS and show that the permissive implementation result of Abreu andMatsushima (1992a) is robust to how the underlying type space is specified.However, AKS need to fix a complete information environment throughouttheir analysis and therefore does not …

Family Incomes Versus College Costs, Michael Hemesath

Administration Publications

No abstract provided.

Cost Estimation Methods And Foundational Public Health Capabilities, Glen P. Mays

Health Management and Policy Presentations

The National Academy of Sciences Institute of Medine recently recommended that the federal government identify the components and costs of a "minimum package of public health services" and "foundational public health capabilities" that should be universally available across the U.S. This presentation reviews costing methods that can be used for identifying the costs required to establish "foundational public health capabilities" at state and local levels within the U.S. public health system.

The Effect Of Snap On Poverty, Laura Tiehen, Dean Jolliffe, Timothy Smeeding

University of Kentucky Center for Poverty Research Discussion Paper Series

On signing the Food Stamp Act of 1964, President Johnson noted that “as a permanent program, the food stamp plan will be one of our most valuable weapons for the war on poverty” (Johnson, 1964). From a humble beginning of 2.9 million recipients per month and $228 million in benefits in 1969 (earliest national figures), the program has grown to serve 47 million persons with benefits of over $74.6 Billion in 2012 (USDA, 2013a). In the late 60’s and early 70’s, when the average monthly benefit was under $20 per month per month, we did not record the effects of …

Fall Of The Rupee, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Why is the Pakistani currency depreciating so rapidly vis-à-vis foreign currencies? How can this trend be arrested? What is the future outlook for Pakistan’s currency? These questions must be addressed in a dispassionate manner.

Economic theory has many explanations for relative currency movements. The simplest one is that if country X records the inflation rate at 10pc per annum while country Y’s is only 2pc, the bilateral exchange rate of country X should result in depreciation of 8pc vis-à-vis country Y.

Hardly any country has economic ties with only one country. Therefore, a trade-weighted exchange rate is used where weights …

The Contractarian Constitutional Political Economy Of James Buchanan, Roger Congleton

Economics Faculty Working Papers Series

No abstract provided.

The Nexus Of Human Capital And Governance, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Pakistan’s popular economic discourse has been rightly focused on short-run problems. Will we be able to end load-shedding in the country? Will the IMF agreement cause more hardships than benefits to the people? Will the inflation rate begin to rise again? Will the rupee keep on tumbling? These are legitimate questions that need to be addressed. The government of the day also devotes its attention towards these problems as the test of their success lies in finding solution to these issues.

Neglected due to this pre-occupation with short-term problems are the issues that will impinge upon the future of this …

The Determinants Of School Attendance On The American Frontier: The Case Of The Territory Of Utah In 1870, Tally Shae Payne, Dr. Clayne L. Pope

Journal of Undergraduate Research

In his study, “Education Among the Mormons,” Frederick S. Buchanan noted that “when we examine development of public schooling in Utah during the half century which elapsed between the initial settlement by Mormon pioneers in 1847 and the granting of statehood in 1896, it is not obvious that a smooth developmental process of growth occurred.”1 Traditional holds that early Mormon settlers were devoted to education and quickly built a strong schooling system for the youth, yet Frederick S. Buchanan’s statement paints a more accurate picture of frontier education in Utah. This economic study used empirical evidence to test the differing …

Global And Local Youth Unemployment: Dislocation And Pathways, Ramon Borges-Mendez, Lillian Denhardt, Michelle Collett

New England Journal of Public Policy

The impact of economic recessions is not felt uniformly across demographic groups, and the detrimental effects of the one-time dislocations can significantly shift the long-term prospects of human development for many years to come. The current recession has been hard on young people in the United States between the ages of 16 and 24, especially minorities (Latino or African American). Labor force participation rates have dropped dramatically and unemployment has reached as high as 30% in some states. Long spells of unemployment and adverse conditions for labor market incorporation further increase the likelihood of other poor life outcomes, such as …

The Debt Equity Choice Of Japanese Firms, Terence Tai-Leung Chong, Daniel Tak Yan Law, Feng Yao

Economics Faculty Working Papers Series

Prior studies on the debt-equity choice of firms focus on capital market oriented economies. This paper examines whether firms in Japan, the world’s largest bank-oriented economy adjust their debt equity choice towards the target. We find that the leverage ratios of Japanese firms do adjust slowly towards their target levels. The adjustment speed has dwindled after the Asian Financial Crisis. In contrast to existing literature, we show that an increase in tangible assets reduces the leverage ratio of firms in Japan. It is also found that the effect of financial deficit is persistent while the market timing effect is not

New Direction For The Pope?, Michael Hemesath

Administration Publications

No abstract provided.

The Fcs And The Usda: The Informational Efficiency Of The Federal Farm System Bond Market, T. Lance Toler, Dr. Farrell E. Jensen

Journal of Undergraduate Research

The United States Department of Agriculture (USDA) prepares reports on the income and financial stability of American farmers and agricultural organizations. If the information in USDA reports on the financial stability of American agriculture is already known by the markets, then the prices of Federal Farm Credit System (FCS) Bank bonds, which are related to the credit risk associated with American agriculture, will not be affected by the release of the reports. If the information provided in the reports is new to the market, however, significant changes in FCS bond prices should immediately be seen as the new information is …

Risk Aversion In Ceo Compensation, Brandon Bates, Dr. Richard Butler

Journal of Undergraduate Research

Chief executive compensation is a topic of great interest for the general public. Such widespread fascination with the topic likely stems from a predilection for subjects involving extravagance and luxury. Of course, CEO compensation holds an additional dimension of interest for economists. That the CEO does not own the company he runs provides a classic example of the principal agent problem. In this application of the principal agent framework, if the compensation committee were to pay a CEO exclusively with a base salary, the executive would have an incentive to shirk or maintain the status quo. Offering a mixture of …