Economics Commons^™

Consumerism: A Challenge For Christian Leadership?, José A. Aleby, Hugo Ernesto Quiroga

Journal of Applied Christian Leadership

This article is motivated by an academic work and a field research project developed by Hugo E. Quiroga (2012; personal communication, 2015) on oneomania as a challenge for christian leadership. Our intention is more to raise questions than to provide easy-sounding answers. The term oneomania may not be well known in theory, but its practical effects are recognized around the world. Oneomania, from the Greek onéo = to buy + mania = insanity, mental disorder (Taylor, 1950), is the scientific and technical term for the disease of consumerism, for the compulsive desire to shop, which is a progressive addiction to …

Mexico Consensus Economic Forecast, Volume 19, Number 2, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

Impacts Of Ecotourism In Costa Rica: A Sustainable Alternative To Conventional Tourism, Kimberly A. Kleszczynski

Pell Scholars and Senior Theses

This ethnographic project examines the economic and social influences of tourism, specifically ecotourism, on the local communities of Costa Rica. The proposed research seeks to investigate the effects of ecotourism on the environment and quality of life for residents in Costa Rica while demonstrating the importance of sustainable development in relation to the ecotourism sector. The primary purpose of this research is to view the impact of ecotourism on Costa Rican society, with a particular focus on culture, economics, the environment, and specifically from the perspectives of local Costa Rican residents. Ultimately this paper will define what ecotourism is and …

Economic Freedom And Quality Of Life Impacts: A Comparison, Rachel S. Bauer

Senior Honors Theses

The “invisible hand” is a concept foundational to the argument for free market economics, and so is hotly debated. One measure of whether or not the free market is a successful economic model is the quality of life of a country’s residents. Quality of life can be assessed through the areas of housing, labor, health, and education. Economic indicators and quality of life statistics for Hong Kong, the United States, China, and Venezuela appear to prove that there is a correlation between quality of life and economic freedom, as defined by the Heritage Foundation’s Index of Economic Freedom. Even …

How Do Changes In Gasoline Prices Affect Bus Ridership In The Twin Cities?, Kim Eng Ky

Economics Honors Projects

What determines the likelihood a resident will take public transit? To understand the relative effects of various determinants of ridership, this study focuses on the effects of gasoline prices, controlling for other determinants such as number of workdays in a given month, traffic, unemployment rate, and service quality. As gasoline prices increase, it becomes more expensive to drive a car. Thus, customers would likely shy away from driving and substitute towards the alternatives; one of which is public transportation. This study aims to find the relationship between gasoline prices and bus ridership at a disaggregated level (route type level) in …

The Impact Of Community Building On Student Achievement, Kathy Sun , '16

Senior Theses, Projects, and Awards

This thesis looks at the impact of community building on student achievement. The theoretical framework stems from Akerlof and Kranton's paper on how student identity impacts schooling outcomes. By combining economic and sociological theories, they argue that community building increases student identification with school and student achievement. Through a literature review, I categorize the ways that schools build community. I then test Akerlof and Kranton's theory that community building increases student identification and achievement through a review of the literature and my own quantitative analysis. I ultimately find that while community building increases student identification, it does not increase achievement.

The Ethics Problem: Toward A Second-Best Solution To The Problem Of Economic Expertise, David M. Levy, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

The collective action problem of economic experts was diagnosed acutely by Knight and Pigou in the 1930s. The interest of economists as a group is in pursuing the public good of truth; the interest of an individual economist is in pursuing the private good of happiness. Pigou’s example is the pursuit of political influence. Deviation from truth-seeking devastates the theory of governance as objective inquiry laid out by Knight and John Rawls, as we saw in the eugenic era. We reformulate the Knight–Rawls position as truth-seeking contingent on a presupposed system. The best case for the Knight–Rawls position is transparency, …

Bringing The Economy Back In: Hannah Arendt, Karl Marx, And The Politics Of Capitalism, Onur Ulas Ince

Research Collection School of Social Sciences

This article engages with the question of how to construct modern economic relations as an object of political theorizing by placing Hannah Arendt's and Karl Marx's writings in critical conversation. I contend that the political aspect of capitalism comes into sharpest relief less in relations of economic exploitation than in moments of expropriation that produce and reproduce the conditions of capitalist accumulation. To develop a theoretical handle on expropriation and thereby on the politics of capitalism, I syncretically draw on Marxian and Arendtian concepts by first examining expropriation through the Marxian analytic of "primitive accumulation of capital" and second delineating …

Factors Influencing College Choice: A Study Of Enrollment Decisions At A Regional Comprehensive University, Trevor Draisey

Major Themes in Economics

This research uses a linear probability model to analyze the enrollment decisions of applicants to Sycamore U and identify factors that affect the likelihood of 1 enrolling. The results of this regression indicate that Sycamore U faces challenges in enrolling minority students, as do many similar institutions, but that aspiring teachers and students with a family connection to Sycamore U are more likely to enroll. Students also appear to react strongly to merit-based financial aid and, to a lesser extent, need-based financial aid offerings from Sycamore U.

2014 Welfare Use By Immigrants Vs. Natives In The United States, Jessica Pabst

Major Themes in Economics

Welfare use by immigrants has been a political issue since the inception of the United States. The Personal Responsibility and Work Opportunity Reconciliation Act of 1996 was intended to cut immigrant welfare use. Since 1996, various studies have found conflicting evidence of the 1996 welfare reform’s effectiveness when comparing immigrant welfare use to native use. This paper analyzes the individual use of Medicaid, a proxy for welfare, in 2014, by immigrants versus natives in the United States. The study, using a logit model, shows that in 2014 the probability of participating in Medicaid was lower for immigrants than natives.

Changing The Calculus: An Investigation Of Undergraduate Economics Program Quality, Lindsey Pedersen

Major Themes in Economics

This paper identifies some factors that affect undergraduate Economics program quality as measured by the College Factual “Economics - Overall Best Nationwide” rankings. Specifically, this research suggests that Economics programs that use calculus in their coursework have significantly better rankings than those that do not and that Economics programs that are located in a college other than the Business College of their universities have moderately better ranks. The results of this paper provide Economics departments information about how to increase program quality, recruit more students, and receive more funding.

Elasticity Of Food Demand By Outlet: Effects Of The Nutrition Labeling Provision Of The Affordable Care Act, Kevin Mcgee

Major Themes in Economics

Since 1984, the ratio of demand for food away from home to demand for food at home in the United States has increased significantly. The relative increase in the demand for food away from home may be a major contributing factor to the growing obesity problem in the United States. To address this problem, the government passed a law requiring restaurants to report caloric values on their menus. I estimate an almost ideal demand system to investigate whether the Nutritional Labeling Provision of the Affordable Care Act has been effective in increasing the demand for food at home relative to …

Health Savings Accounts: Benefits, Costs, And Potential Effects, Conrad Keezer

Major Themes in Economics

Health-care costs have been a significant topic in the U.S. in recent decades. Several ideas have been proposed to address rising costs, while still maintaining affordable insurance options for consumers. Consumer-Directed Health Plans have been one of these options, and when coupled with Health-Savings Accounts, these plans have significant potential to curb costs and increase the number of insured consumers. There may, however, be both positive and negative effects. The positive effects will likely outweigh the negative effects, and Consumer-Directed Health Plans, coupled with Health-Savings Accounts, should present a net gain to both consumers and the overall economy.

The Efficiency Of The Major League Baseball Free-Agent Market, Jacob Oswald

Major Themes in Economics

With the recent $325 million dollar contract sign by Giancarlo Stanton, baseball contracts have reached a new frontier. Baseball contracts have increased in value year after year since free agency began in 1976. Are these contracts efficient? A new approach to measuring the efficiency of baseball contracts makes use of the wins above replacement statistic. That statistic reflects the value and cost of a player compared to a replacement. I conclude that large long-term contracts are efficient right now, but with many contracts not yet finished, and players past their "prime," these contracts may become extremely inefficient.

Globalization Of The Food Industry: Transnational Food Corporations, The Spread Of Processed Food, And Their Implications For Food Security And Nutrition, Elizabeth Black

Independent Study Project (ISP) Collection

We are currently experiencing a significant shift in our world’s food systems and dietary patterns. Access, availability, and the quality of food are changing and the need for proper nutrition and food security has come to the forefront of the global health agenda. While globalization has fostered greater variety and access to food in many places; access to healthy, affordable food is not universal, leaving many populations buying cheaper food that has poor nutritional value. My purpose for this paper is to determine how the forces of globalization, the business practices of transnational food companies, and the prevalence of processed …

A Precarious Paradigm: Seeking Alternatives To Public-Private Partnerships In Health, A Case For The Code, Lena Mininberg

Independent Study Project (ISP) Collection

Background: Breastfeeding is an unparalleled source of nutrition for infants and young children and is recommended as the best practice universally by the World Health Organization (WHO). The benefits in human health and development that result from exclusive and sustained breastfeeding have enormous economic development potential. Because of the non-legally binding nature of the International Code of Marketing of Breastmilk Substitutes (the Code), and shifting socio-cultural norms, breastfeeding rates are at an alarming low. In order to progress towards the Sustainable Development Goals, breastfeeding practices must be protected, promoted, and supported worldwide.

Objective: This research paper explores implementing strong measures …

The Impact Of Geopolitical Factors On The Future Economic Integration Of Asean +3, Michael Corrigan

Independent Study Project (ISP) Collection

East and Southeast Asia have benefited greatly from China’s growth and are gaining significantly more economic and political power in comparison to the West. The growing interdependence in this region has led to the continuing economic integration of the ASEAN Plus Three countries. The research paper analyzes the geopolitical factors that impact this integration, such as historical tension, regional security conflicts, social, cultural and economic differences, as well as economic rivalries. In addition, the strategic agendas of the main actors, including the U.S., are analyzed to provide a comprehensive argument concerning the impact these geopolitical factors will have on future …

Perceptions Of Dignity In Humanitarian Aid: A Postcolonial Critique Of Syrian Refugee Response, Jonathon Burne

Independent Study Project (ISP) Collection

This research investigates the perception of dignity and sustainability from Syrian refugees and local aid workers in the Jordanian towns of Karak and Mafraq, through semistructured interviews conducted in Arabic and facilitated by a local translator. The study explores how these conceptions of dignity and sustainability differ from those that currently guide the international and Jordanian response to the Syrian refugee crisis, in the hopes of investigating a broader relationship between the international human rights industry and modern iterations of Western imperialism. An additional focus is the recommendations provided by refugees and aid workers on how the humanitarian response might …

Democratization In The Arab World: A Moroccan Case Study Of Culture, Religion, And Governance, Marwah Al-Jilani

Independent Study Project (ISP) Collection

Democracy and Islam are generally assumed as incompatible, which leads to further assumptions towards the notion that democracy in Muslim majority states can not be reconciled. The presence of a religious political culture appears as the main hindrance for sound democratic structures. However, it appears that the absence stems from other prominent factors. This paper extends the rhetoric that Islam and democracy can be compatible and a lack of democracy is dependent on specific authoritarian structures. Morocco, a Muslim majority state that is going through democratization offers data to gauge whether or not democratic practice is present within the general …

They Come Like The Clouds: Governing The Mountainous Periphery, Jared Sousa

Independent Study Project (ISP) Collection

This paper addresses the extension of governmental power into the mountainous periphery of the village of Dho Tarap in the Dolpa District of Nepal. New technologies, new markets, and new social dynamics are penetrating the Himalaya and reshaping the connections that mountain people have to the outside world. In this context of connectivity and modernity, the people of Dho Tarap are also being thrust into far closer proximity to the Nepali government. After a series of geopolitical moves in Nepal and China in the 1960s, Dho Tarap as part of an isolated border region has been a part of a …

(Wp 2016-03) Economics, Neuroeconomics, And The Problem Of Identity, John B. Davis

Economics Working Papers

This paper reviews the debate in economics over neuroeconomics’ contribution to economics. It distinguishes majority and minority views, argues that this debate has been framed by mainstream economics’ conception of itself as an isolated science, and argues that this framing has put off the agenda in economics issues such as individual identity that are increasingly important in connection with the social and historical context of economic explanations in a changing complex world. The paper first discusses how the debate over neuroeconomics has been limited to the question of what information from other sciences might be employed in economics. It then …

2015 Nonresident Visitation, Expenditures & Economic Impact Estimates: Estimates By Full Year, Quarters, Trip Purposes, And International Visitors, Kara Grau

Institute for Tourism and Recreation Research Publications

A collection of 2015 full year and quarterly estimates of nonresident visitation, expenditures by nonresident travelers, and economic impact estimates, including expenditures by purpose of trip, airport of arrival, and international visitors.

The Pakistani Diaspora: Strengthening Linkages Between Host And Home, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

The most recent estimates made by the World Bank show that the number of international migrants would surpass 250 million. These migrants send $600 billion to their families in their home countries with developing countries receiving $440 billion—almost four times the amount sent in 2001. These remittances are three times the size of official development assistance. Migrants hold more than $500 billion in annual savings. The remittances and savings have become a major source of financing for development. U.S. ($56 billion), Saudi Arabia ($37 billion) and Russia ($33 billion) were the top three source countries. India ($72 billion), China ($64 …

Benchmarking And Currency Risk, Massimo Massa, Yanbo Wang, Hong Zhang

Research Collection Lee Kong Chian School Of Business

We show that the currency risk embedded in the benchmarks of international mutual funds negatively affects fund performance. More specifically, a high benchmark-implied currency risk induces funds to invest in markets with less volatile currencies, leading to a higher degree of currency concentration in portfolio holdings. This currency concentration, however, departs from the optimal equity allocation strategy across countries and reduces fund performance. We document that funds resorting to high currency concentrations underperform funds with low currency concentrations by as much as 1%-2% per year.

Two Essays On Investor Emotions And Their Effects In Financial Markets, Jiancheng Shen

Finance Theses & Dissertations

This dissertation provides empirical evidences on media-based investor emotions in predicting stock return, conditional volatility, and stock and bond return comovements.

We first studied the interaction between US media content and the US stock market returns and volatility. We utilize propriety investor sentiment measures developed by Thompson Reuters MarketPsych. We select four measures of investor sentiment that reflect both pessimism and optimism of small investors. Our objective is two-fold. First, we examine the ability of these sentiment measures to predict market returns. For this purpose, we use dynamic Vector Auto-Regressive models. Second, we are interested in exploring the effects of …

Two Essays On Short Selling, Zhaobo Zhu

Finance Theses & Dissertations

This dissertation provides some new evidence that the information contained in short selling is informative about future returns, confirming the role of short sellers in the price discovery process.

The first essay examines the cross-sectional relation between the change in short interest and expected stock returns. NYSE/AMEX stocks with large decreases (increases) in short interest over past medium-term horizon experience significant and positive (negative) abnormal returns. Moreover, the positive abnormal returns are larger in absolute value and are more persistent than negative abnormal returns. The return spread between bottom and top deciles is economically and statistically significant and persistent. The …

Essays On The Equity Risk Premium, Mohamed Mehdi Rahoui

Finance Theses & Dissertations

The equity risk premium (ERP) is an essential component of any asset pricing model both for academics and practitioners alike. Nevertheless, the financial literature does not accord much attention to the ERP estimation issues (Damodaran, 2015). The first chapter of this dissertation gives a summary of the recent literature review on the subject of the ERP. The second chapter explores four of the most commonly cited models in literature for estimating the ERP: the Historical Mean of Realized Returns Model (HMRRM), the Dividend Discount Model (DDM), the Free Cash Flow Model (FCFM), and the Sharpe Ratio Model (SRM). The results …

The Economic Trinity: Communion With The Triune God In A Market Economy, David Glenn Butner Jr.

Dissertations (1934 -)

Many theological approaches to economics claim that the market economy can help develop an economic agent in virtue, while others argue that market economies undermine virtue, impede authentic spirituality, or result in injustice. Similarly, experimental and behavioral economists have identified market constructions that influence economic agents in terms of their motivations, perceptions, actions, and self-understanding in positive or negative ways. This dissertation theologically analyzes these two bodies of literature under the conviction that any redemptively significant development that an economic agent undergoes in the economy must be attributed to God’s grace. This project develops a Reformed and trinitarian theology of …

Macroeconomic Effects Of Energy Price Shocks On The Business Cycle, Bao Tan Huynh

Research Collection School Of Economics

This paper proposes a framework of endogenous energy production with convex costs to investigate the general equilibrium effects of energy price shocks on the business cycle. This framework explicitly models the consumption of durables and nondurables and implements a high complementarity between energy and the usage of durables and capital. The model predicts energy price elasticities of various consumption variables that fall within reasonable agreement with empirical estimates. Convex costs in energy production produce energy price and energy supply dynamics that tallies well with empirical behavior. Our analysis confirms in a theoretical setting recent observations that not all energy price …

Nonparametric Cointegrating Regression With Endogeneity And Long Memory, Qiying Wang, Peter C. B. Phillips

Research Collection School Of Economics

This paper explores nonparametric estimation, inference, and specification testing in a nonlinear cointegrating regression model where the structural equation errors are serially dependent and where the regressor is endogenous and may be driven by long memory innovations. Generalizing earlier results of Wang and Phillips (2009a, b, Econometric Theory 25, 710-738, Econometrica 77, 1901-1948), the conventional nonparametric local level kernel estimator is shown to be consistent and asymptotically (mixed) normal in these cases, thereby opening up inference by conventional nonparametric methods to a wide class of potentially nonlinear cointegrated relations. New results on the consistency of parametric estimates in nonlinear cointegrating …