Economics Commons^™

Advancing The Empirical Research On Lobbying, John M. De Figueiredo, Brian Kelleher Richter

Faculty Scholarship

This essay identifies the empirical facts about lobbying which are generally agreed upon in the literature. It then discusses challenges to empirical research in lobbying and provides examples of empirical methods that can be employed to overcome these challenges—with an emphasis on statistical measurement, identification, and casual inference. The essay then discusses the advantages, disadvantages, and effective use of the main types of data available for research in lobbying. It closes by discussing a number of open questions for researchers in the field and avenues for future work to advance the empirical research in lobbying.

Santa Anna And His Black Eagle: The Origins Of Pari Passu?, Benjamin Chabot, Mitu Gulati

Faculty Scholarship

One of the most debated issues in international finance is the meaning of the pari passu clause in sovereign bonds. The clause is ubiquitous; it is in almost every single foreign-law sovereign bond out there. Yet, almost no one seems to agree on its meaning. One way to cut the Gordian knot is to track down the origins of the clause. Modern lawyers may have simply copied the clause from the documents of their predecessors without understanding its meaning. But surely the people who first drafted the clause knew what it meant. Four enterprising students at Duke Law School may …

From Pigs To Hogs, Stephen J. Choi, Mitu Gulati

Faculty Scholarship

The question of whether, and to what extent, markets price contract terms in government bond issues has been one of considerable debate in the literature. We use a natural experiment thrown up by the Euro area sovereign debt crisis of 2010-2013 to test whether a particular set of contract terms – ones that gave an advantage to sovereign guaranteed bonds over garden variety sovereign bonds – was priced. These contract terms turned out to be important for the holders of guaranteed bonds during the Greek debt restructuring of 2012, where they helped the holders of guaranteed bonds escape the haircut …

“Robbing Peter To Pay Paul”: Economic And Cultural Explanations For How Lower-Income Families Manage Debt, Laura M. Tach, Sara Sternberg Greene

Faculty Scholarship

This article builds upon classic economic perspectives of financial behavior by applying the narrative identity perspective of cultural sociology to explain how lower-income families respond to indebtedness. Drawing on in-depth qualitative interviews with 194 lower-income household heads, we show that debt management strategies are influenced by a desire to promote a financially responsible, self-sufficient social identity. Families are reluctant to ask for assistance when faced with economic hardship because it undermines this identity. Because the need to pay on debts is less acute than the need to pay for regular monthly expenses like rent or groceries, debts receive a lower …

Brief Of Financial Economists As Amici Curiae In Support Of Respondents, Ernest A. Young

Faculty Scholarship

No abstract provided.

The Effect On Stockholder’S Wealth On Critical Systems Failure And Remedy: The Boeing 787 Case, Jayendra Gokhale, Sunder Raghavan, Victor J. Tremblay

Accounting, Economics, Finance, and Information Sciences - Daytona Beach

In this paper we analyze the effect of Boeing Dreamliner 787’s battery problems on stockholder wealth. Using the event study methodology, we show that the recall in January of 2013 initially caused the company’s cumulative abnormal returns to fall by almost 4% in four trading days after the recall. This was followed by an announcement by two major airlines to ground all of the 787 Dreamliner jets. The FAA also ordered all US airlines to ground their 787s and announced an investigation to review all critical systems of 787s. However within four months of the investigation, FAA approved Boeing’s revisions …

50 Economic Facts And Figures About Kentucky, 2014, Center For Business And Economic Research, Gatton College Of Business And Economics, University Of Kentucky

CBER Infographic Posters

No abstract provided.

New Evidence On Why Children's Food Security Varies Across Households With Similar Incomes, Diane Whitmore Schanzenbach, Patricia M. Anderson, Kristin F. Butcher, Hilary W. Hoynes

University of Kentucky Center for Poverty Research Discussion Paper Series

This project examines why very low food security status among children is different across households with very similar measured resources. Controlling for measures of income-to-needs, we examine whether elements in the!environment, household characteristics, or behaviors are systematically correlated with VLFS among children. We use different measures of income-to-needs, including those averaged across years to capture “permanent” income (or to average out measurement error) and measures that include income after taxes and transfers. Our analysis uses the Current Population Survey (across many years, matched December to March), the American Time Use Survey (matched to the December CPS), the National Health and …

Pay-As-You-Go Electricity: The Impact Of Prepay Programs On Electricity Consumption, William M. Martin

Theses and Dissertations--Agricultural Economics

Prepay or pay-as-you-go programs are an increasingly popular type of rate plan offered by electric utilities. Under these plans, ratepayers must keep a positive balance at all times to avoid being automatically disconnected, they are charged daily for their usage, and they are provided with a means to monitor their consumption. One of the suggested benefits of these plans is that they allow electricity consumers to better manage their usage. Using household level monthly usage data from customers enrolled in prepay programs at two Kentucky rural electric cooperatives, we investigate whether there is a change in consumption after these customers …

الإبداع المحاسبي من خلال معايير المحاسبة الدولية, بوهرين فتيحة, مرازقة صالح

Muthanna Journal of Administrative and Economics Sciences

أصبح مفهوم الإبداع المحاسبي محل إهتمام كبيرجدا من قبل الباحثين المهتمين بميادين المعرفة المالية والمحاسبية وكذالك من قبل المحاسبين والمراجعين ’وقد أزداد هذا الإهتمام نتيجة للأزمة المالية العالمية الأخيرة والتي أدت إلى انهيار عدة شركات كانت رائدة في مجال عملها نتيجة لنقص الشفافية في عرض البيانات المحاسبية المتعلقة خاصة بالتدفقات المالية والتلاعب المقصود بالحسابات و من أجل التحكم في النشاط الإقتصادي والتدفقات المالية الناتجة عنه عملت الهيئات المهتمة بالعمل المحاسبي والمالي على وضع معايير التقارير المالية الدولية من أجل تحسين عملية العرض، التقييم التسجيل و الإفصاح المحاسبي. و عليه موضوعنا سيتناول معايير التقارير المالية كشكل للإبداع المحاسبي مركزين على عرض …

Sociobiophysicality And The Necessity Of Critical Theory: Moving Beyond Prevailing Conceptions Of Environmental Sociology In The Usa, Alex Stoner

Journal Articles

Today, to perceive the link between society and environment does not require that we engage in an effort of great abstraction. What remains paradoxical is that the intensity and scale of societally induced environmental degradation, which rose to historically unprecedented levels during the latter half of the 20th century, is synchronous with an equally impressive increase in public concern for and attention to the biophysical world. This article examines values-based and traditional Marxist-oriented approaches to environmental sociology in the USA in order to assess whether or not – and if so, how exactly – these approaches help us make sense …

Three Essays On Cross-Border Mergers And Acquisitions, Derrick T. Jenniges

Theses and Dissertations--Economics

This dissertation consists of three essays on cross-border mergers and acquisitions (M&As). The first essay studies horizontal and vertical investments between Organization for Economic Cooperation and Development (OECD) countries, while the second essay examines how investment patterns vary by country development. The third essay estimates the effect of merger policy reform on cross-border M&A activity in Europe.

The first essay tests how well theories of horizontal and vertical foreign direct investment (FDI) explain observed patterns of cross-border M&As in OECD countries. Horizontal investment occurs when multinational firms produce in foreign countries to serve the foreign market, whereas vertical investment occurs …

The Responsiveness Of Migration To Labor Market Conditions, Preston M. Brashers

Theses and Dissertations--Economics

This dissertation explores how migration responds to economic conditions, particularly differences in responsiveness for various segments of the population. After a brief introduction and motivation of my work in Chapter One, Chapter Two estimates the responsiveness of households’ interstate migration to origin state labor market conditions and surrounding state labor market conditions. Each percentage point increase in origin state unemployment insurance claims leads to a 3.2 percent increase in household’s propensity to migrate interstate and each percentage point increase in the unemployment insurance claims rate of surrounding states reduces interstate migration propensity by 5.2 percent. I then examine how this …

An Integrated Environmental And Economic Modeling Framework For Technological Transitions, Randall Jackson

Regional Research Institute Working Papers

There is an increasing demand for models that address both environment and economy, and that also estimate or forecast the impacts of introducing new and markedly different technologies from those already existing in the systems under study. Because most conventional models are calibrated to recent data characterizing current economic structure and conditions, their standard turn-key operation will need to be replaced by more comprehensive algorithms and procedures designed to explicitly accommodate shifts in technology and economic structure. This paper lays out one viable alternative for integrating environmental and economic modeling frameworks, and focuses specifically on one of the major challenges …

Low Priority Laws And The Allocation Of Police Resources, Amanda Ross, Anne Walker

Economics Faculty Working Papers Series

There is an ongoing literature in economics examining the deterrent effect of police officers on criminal activity. However, this literature tends to focus on the aggregate number of officers employed versus the relative allocation of an officer’s time. In this paper, we examine how the reallocation of police resources affects police behavior and criminal activity using the adoption of low priority initiatives by some jurisdictions. Low priority initiatives mandated that minor marijuana possession offenses be the lowest enforcement priority for police officers. We first test whether adoption of the initiative decreased the arrest rate for minor marijuana possession offenses. If …

Economic Freedom Research: Some Comments And Suggestions, Jamie Bologna, Joshua C. Hall

Economics Faculty Working Papers Series

The Economic Freedom of the World (EFW) index is extensively used in academic research to show how economic freedom relates to a wide array of economic and social outcomes. Given this, it is important that researchers understand the goal of the index and how to properly utilize this index in their research. There seem to be several common misconceptions about the EFW index resulting from a simple misunderstanding of the index itself. This paper discusses each of these misconceptions in turn and makes suggestions for future research. This paper aims to significantly improve the quality of research using the EFW …

The Seventeenth Amendment, Senate Ideology, And The Growth Of Government, Danko Tarabar, Joshua C. Hall

Economics Faculty Working Papers Series

The 17th Amendment disturbed the existing electoral system in the United States by requiring direct elections for state Senators. Scholars have argued this made the Senate more populist and contributed to the growth of government in the US post-1913. We employ econometric tools to investigate whether the mean ideology of the Senate and its winning policies experienced a structural change around the time of the enactment. We find no compelling evidence of a structural break at that time but do find some evidence for a change in the mid-to-late 1890s.

Speculative Tech: The Bitcoin Legal Quagmire & The Need For Legal Innovation, Paul H. Farmer Jr.

Journal of Business & Technology Law

No abstract provided.

Food Deserts And Migrant Farmworkers: Assessing Food Access In Oregon's Willamette Valley, Katie Grauel, Kimberlee J. Chambers

Geography Faculty Publications and Presentations

Food insecurity, often correlated with “food deserts,” affects migrant and seasonal farmworkers (MSFW) at greater rates than other populations. Our research evaluates the food desert experiences of MSFW communities in Oregon's Willamette Valley. Through GIS mapping, interviews with MSFW, and food retailer inventories, our research helps elucidate the degree to which the geographical distribution of food retailers and the products they carry affects MSFW. Access to food retailers was assessed for distances of 0.25, 1.5, 5, and 10 miles. Mapping locations of registered MSFW labor camps (n = 62) and food retailers (n = 215) in the Willamette Valley revealed …

The Costs Of Conflict, Adam Smith

Economics Department Faculty Publications & Research

Violent conflict destroys resources. It generates "destruction costs." These costs have an important effect on individuals’ decisions to cooperate or conflict. We develop two models of conflict: one in which conflict’s destruction costs are independent of individuals’ investments in "arms"—the tools of conflict—and another in which conflict’s destruction costs depend on those investments. Our models demonstrate that when conflict’s destruction costs are arms-dependent, conflict is more costly, making cooperation more likely. We test this prediction with a laboratory experiment in which subjects first choose how heavily to invest in arms and then choose whether to cooperate or conflict in an …

Historical Overview, Maksim Storchevoi, Jeffrey K. Hass

Sociology and Anthropology Faculty Publications

The goal of this chapter is to discuss key values and archetypes of Russian culture that have developed over several centuries of Russian history. This fundamental introduction is important because these values and archetypes have successfully manifested themselves through various institutions of the Russian Empire, the Soviet Union and post-Soviet Russia. What are they and what are their roots? Answers to these questions can help us better understand Russian economic and business culture that shapes the behaviour of entrepreneurs, investors and employees in the current economy, and also political and legal traditions that play enormous roles in establishing and running …

Trade Liberalization In Mexico: An Analysis Of The Anti-Export Bias, Daniel J. Serra

CMC Senior Theses

Modern trade theory suggests that protectionist policies hinder exports by altering domestic prices and production incentives. This paper examines the effect of import tariffs on Mexican non-oil exports through a comprehensive analysis of the Mexican trade sector, including a breakdown of the most important free trade agreements for the Mexican economy, information on Mexican resource mobility and factor endowment, and analysis on Mexico’s tariff structure. The paper finds that import tariffs on both intermediate and final goods have a direct and significant effect on exports, alluding to the existence of an anti-export bias, and argues that free trade is the …

Money Chapter Eight, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A., PhD. (January 17, 2014). Money chapter edit [Handwritten notes]. Unpublished manuscript notes, file folder containing handwritten annotations and revisions related to a chapter on money.

• Shaikh, A. (November 5, 2013). Exchange, money and price [Draft manuscript]. Unpublished manuscript draft examining the origins of exchange, the development of money and banking, and classical theories of money, including internally edited sections prepared for further revision.

Meeting In Colombia, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A., Correa Rodriguez, L. A., & Alvarez Gallo, C. A. (2014, April 9). Email correspondence regarding arrangements for a visit to Universidad de los Andes in Bogotá, including an interview with a student magazine and a seminar presentation on rethinking microeconomics [Email correspondence].

The Role Of Underutilized Fish In New England's Seafood System, Taylor Witkin

Honors Theses

The global fisheries crisis has led to an increasing recognition for the need to relieve pressure on overfished, popular food fish stocks. Opportunities exist to shift consumer demand toward more sustainable choices, including fish that may be locally abundant. Attempts have been made to market underused fish (sometimes termed “trash fish”) that represent more sustainable alternatives; however, it is unclear whether consumers will choose to purchase these more sustainable options, particularly if underused fish are also unfamiliar. Chapter 1 reviews existing research and current issues surrounding sustainable seafood and the recent shift toward local, abundant, undervalued species in New England’s …

The Economic Impact Of Shale Gas Development: A Natural Experiment Along The New York And Pennsylvania Border, Brendan Cosgrove

Honors Theses

In the United States, the rapid increase in shale gas production has recently stimulated local economies. This paper investigates the regional economic impact of shale gas development. The border of New York and Pennsylvania provides a natural experiment for its economic impact because of the moratorium on fracking in NY and the supportive fracking regulations in PA. Using BLS data from 2001-2013, results show that shale gas development has a statistically significant impact at the industry level, but not across the entire economy. The findings contribute new evidence to the economic benefits and the boom-bust cycle of shale gas extraction.

Impact Of Health Expenditure On Economic Growth: A Comparative Study Of Developed And Developing Countries, Md. Zubair Zuven

Masters Theses

This paper assesses the impact of health expenditure on economic growth for countries at different income levels. A panel dataset over the period of 1995 to 2011 for 136 member countries is taken into consideration. These countries are segregated into four groups according to their income. Based on the regression analysis, the study investigates the effect of health spending on gross domestic product by applying panel least squares along with country and year fixed effects. The study reveals that health expenditure per capita has a significant positive effect on gross domestic product not only for high and upper middle income …

Health Plans For Employment: Physical Activity, Catherine Ipsen, Bethany Rigles, Casey Nicole Ruggiero, University Of Montana Rural Institute

Employment

From a young age, we are told that exercise and active movement are good for our heart and help us stay strong. But did you know that regular physical activity can also prevent injury, reduce pain, fatigue, depression, and anxiety, and improve your sleep? This fact sheet describes the different types of physical activity and the resources available from the National Center on Health, Physical Activity and Disability.

In addition to the English version, it is also available in Spanish and Hmong.

This fact sheet was developed by RTC:Rural for Wisconsin Promise as part of the Health Plans …

Oup Academic E-Proofreading Guidelines: Authors, Anwar Shaikh Phd

Archives of Anwar Shaikh

Oxford University Press production guide, issue three, dated March 2014.

Why Is Housing Finance Still Stuck In Such A Primitive Stage?, Robert J. Shiller

Cowles Foundation Discussion Papers

The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that has followed the financial crisis of 2007-9 has not been focused on improving the risk management of individual homeowners. This paper lists a number of barriers to housing finance innovation, and in light of these barriers, the problems of some major innovations of the past and future: self-amortizing mortgages, price-level adjusted mortgages (PLAMs), shared appreciation mortgages (SAMs), housing partnerships, and continuous workout mortgages (CWMs).