Economics Commons^™

The Economic Impact Of City-County Consolidations: A Synthetic Control Approach, Joshua Hall, Josh Matti, Yang Zhou

Economics Faculty Working Papers Series

Although more rapid development is a primary motivation behind city-county consolidations, few empirical studies explore the impact of consolidation on economic development. No studies look at government consolidation in the United States using modern causal inference methods. We use the synthetic control method (SCM) to examine the long-term impact of city-county consolidations on per capita income, population, and employment. The results from the three cases explored indicate that consolidation does not guarantee development and actually can have negative effects. Additionally, consolidation can deepen the urban-rural divide by accelerating the decline of rural populations relative to those of urban areas. The …

Match Fixing And Sports Betting In Football: Empirical Evidence From The German Bundesliga, Christian Deutscher, Eugen Dimant, Brad R. Humphreys

Economics Faculty Working Papers Series

Corruption in sports represents an important challenge to their integrity. Corruption can take many forms, including match fixing by players, referees, or team officials. Match fixing can be difficult to detect. We use a unique data set to analyze variation in bet volume on Betfair, a major online betting exchange, for evidence of abnormal patterns associated with specific referees who officiated matches. An analysis of 1,251 Bundesliga 1 football matches from 2010/11 to 2014/15 reveals evidence that bet volume in the Betfair markets in these matches was systematically higher for four referees relative to matches officiated by other referees. Our …

Scientific Output: Labor Or Capital Intensive? An Analysis For Selected Countries., Elham Erfanian, Amir Borges Ferreira Neto

Economics Faculty Working Papers Series

Scientific research contributes to sustainable economic growth environments. Hence, policy-makers should understand how the different inputs - namely labor and capital - are related to a country's scientific output. This paper addresses this issue by estimating output elasticities for labor and capital using a panel of 31 countries in nine years. Due to the nature of scientific output, we also use spatial econometric models to take into account the spillover effects from knowledge produced as well as labor and capital. The results show that capital elasticity is closer to the labor elasticity. The results suggest a decreasing return to scale …

How Much Does Talent Matter? Evidence From The Brazilian Formal Cultural Industry, Ricardo Da Silva Freguglia, Amir Borges Ferreira Neto

Economics Faculty Working Papers Series

The goal of this paper is to evaluate how much does talent – the individual non-observed characteristics – matter to explain the wage differences between workers from the cultural industry and workers from other formal industries in Brazil. To do so we use the data from 2003 to 2008 of the Rais-Migra – MTE, which is a true panel of formal workers from Brazil, and use fixed effects estimators to capture the talent measure and the Blinder (1973) and Oaxaca (1973) decomposition to seek for evidences of wage difference. The results imply that the talent is important in the determination …

Economic Freedom And Governance Efficiency: Recent Evidence From China, Shaoment Jia, Yang Zhou

Economics Faculty Working Papers Series

We investigate the effects of economic freedom (marketization) on governance efficiency defined with the newest provincial level economic indicator data (NBSC, 2017) and economic freedom data (Fan et al., 2017) from 2008 to 2014 in China. With two different measures, the results suggest that economic freedom is positively correlated with governance efficiency. Moreover, the liberalization and marketization progress in the “factors market” is the single most significant area for both governance efficiency measures, while other areas like “market intermediary & legal system” have no significant effects.

Does Economic Freedom Affect The Production Frontier? A Semiparametric Approach With Panel Data, Fan Zhang, Joshua C. Hall, Feng Yao

Economics Faculty Working Papers Series

This paper applies a multi-step semiparametric stochastic production frontier estimator proposed by Yao et al. (2017) to investigate the effects of economic freedom on the production frontier and technical efficiency. We allow output elasticities and technical efficiency to depend on the economic freedom variable, estimate a smooth coefficient stochastic production frontier, and compare with parametric alternatives, the Cobb-Douglas and translog estimates. Our results add to the literature on economic freedom and growth in three ways. First, our results highlight the flexibility of semiparametric approaches as we find the commonly used parametric approaches to be too restrictive in estimating the marginal …

Tuition Increases Geaux Away? Evidence From Voting On Louisiana’S Amendment 2, Joshua C. Hall, Serkan Karadas

Economics Faculty Working Papers Series

In many states, public institutions of higher education have the autonomy to raise tuition. This has not been the case in Louisiana since a 1995 constitutional amendment required a two-thirds majority of the state legislature for any tuition increase. In November of 2016, voters in Louisiana rejected Amendment 2, a constitutional amendment that would have given state institutions of higher education autonomy in setting tuition. We examine parish-level voting on Amendment 2 using an empirical political economy model and find that parishes with a greater percentage of African-Americans and university employees were more likely to vote yes. Student enrollment at …

Previous Studies Find State Lottery Sales Are Significantly Influenced By Socioeconomic Characteristics Of The Population. We Extend This Literature By Examining How The Overall Expected Value, The Top Prize, And The Total Combinations Influence Sales After Controlling For These Other Socioeconomic Factors. We Perform Our Empirical Analysis On An Unparalleled Set Of Data That Includes Information For 135 On-Line Lottery Games In The United States. Our Results Show That Sales Are Significantly Influenced The Top Prize Amount And Odds Of Winning It, But That Sales Are Not Significantly Affected By The Expected Value Of The Remaining Lower Prizes., Thomas A. Garrett, Russell S. Sobel

Economics Faculty Working Papers Series

Theoretical models of risk have attempted to explain why risk-averse individuals take unfair gambles. Using all United States’ lottery games, we find theoretical and empirical evidence that skewness of prize distributions explains why risk averse individuals may play the lottery.

Essays On Economic Growth In India, Sujana Kabiraj

LSU Doctoral Dissertations

This dissertation comprises of three distinct studies that contribute to the field of economic growth in India. First, we investigate patterns of growth at the district level (second level administrative units) using radiance calibrated night lights data for 2000-2010. We examine growth both at the aggregated district level, as well as along the rural and urban dimensions. We find evidence of both absolute and conditional convergence, with convergence among rural areas being the primary driver. However, there is no evidence of convergence among urban areas. Moving further along similar lines, we explore the effect of credit shocks, generated by scheduled …

Teaching Integrity In Empirical Economics: The Pedagogy Of Reproducible Science In Undergraduate Education, Norm Medeiros, Richard J. Ball

Economics Faculty Scholarship

Professors and librarians choose careers at liberal arts colleges to forgemeaningful relationships with students. A frequent and positive byproductof this student-centered engagement is collaboration between professorsand librarians on the provision of research services. Such collaborationis often a function of the library liaison model, a common organization-al structure in college libraries that assigns a librarian to each academicdepartment. Our collaboration began in this modest way, with associatelibrarian of the college providing guidance on acquiring data and appro-priate literature for students in the associate professor of economics’ intro-ductory statistics course. Our collaboration has since grown into a curric-ulum development and outreach initiative …

A County By County Analysis Of Poverty In The State Of Georgia, Derrick S. Ramage, William Levernier Dr.

Honors College Theses

The state of Georgia has one of the highest poverty rates of all the states in the United States. This study examines the causes of poverty in Georgia, using county-level data. The state of Georgia is one of the largest states in the Southeastern U.S. and is very diverse in terms of its mix of metropolitan and non-metropolitan counties, and its mix of agricultural and non-agricultural counties. The major focus of the paper is determining the effect that demographic, educational attainment, labor force, government assistance, and transportation characteristics of a county have on its poverty rate. The major findings of …

(Wp 2017-02) The Great Recession And Public Education, William N. Evans, Robert M. Schwab, Kathryn L. Wagner

Economics Working Papers

We examine the impact of the Great Recession on K-12 education finance and employment and generate five key results. First, nearly 300,000 school employees lost their jobs. Second, schools that were heavily dependent financially on state governments were particularly vulnerable to the recession. Third local revenues from the property tax actually increased during the recession, primarily because millage rates rose in response to declining property values. Fourth, inequality in school spending rose sharply during the Great Recession. Fifth, the federal government’s efforts to shield education from some of the worst effects of the recession achieved their major goal.

(Wp 2017-01) The Continuing Relevance Of Keynes's Philosophical Thinking: Reflexivity, Complexity, And Uncertainty, John B. Davis

Economics Working Papers

This paper explains the continuing relevance of Keynes’s philosophical thinking in terms of his anticipation of complexity thinking in economics. It argues that that reflexivity is a central feature of the philosophical foundations of complexity theory, and shows that Keynes employed an understanding of reflexivity in both his philosophical and economic thinking. This argument is first developed in terms of his moral science conception of economics and General Theory beauty contest analysis. The paper advances a causal model that distinguishes direct causal relationships and reflexive feedback channels, uses this to distinguish Say’s Law economics and Keynes’s economics, and explains the …

Capitalism - Oxford University Press, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Economic processes and time scales in classical tradition(unpublished manuscript), by Anwar Shaikh, PhD, dated 2017-10-03.
  • Typed manuscript outlining four economic adjustment processes within the classical tradition framework, including fast, medium, medium-slow, and slow processes related to selling prices, circulating capital, capacity utilization, profit-rate equalization, and technical change.
  • Handwritten notes by Anwar Shaikh, PhD, titled 4 speeds ↔ 4 instruments, dated 2017-10-04, discussing adjustment mechanisms involving circulating capital, fixed capital, capacity utilization, profit-rate equalization, entry and exit of firms, technical change, and regulating conditions across industries.
  • Handwritten annotations by Anwar Shaikh, PhD, concerning the equalization of …

Luis Daniel Gonzalez, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Luis Daniel Gonzalez. NA-24-12. 2017.

• Michael Lahr → I-O coefficients have a beta distribution in each column. 2017. Manuscript note credited to Anwar Shaikh, PhD.

• Michael Lahr — Luis Daniel defense. October 31, 2017. Manuscript note credited to Anwar Shaikh, PhD.

• Comments on Chapter 1: constraints, equilibrium, and empirical regularities. October 31, 2017. Manuscript note credited to Anwar Shaikh, PhD.

• Chapter 1: w-r can be linear if ρi’s are linear, in which case the composition of output. Manuscript note credited to Anwar Shaikh, PhD.

• Chapter 1: empirical regularities imply “constraints”. Manuscript …

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Investor's Sentiment In Predicting The Effective Federal Funds Rate, Artem Meshcheryakov, Stoyu Ivanov

Faculty Publications

In this article we study if investor's sentiment measured by an intensity of Google searches may be used to predict future changes of the Effective Federal Funds rate. We find that online searches for “fed funds rate”, “fed interest rate”, “fed reserve”, “fed reserve rate” and “federal interest rate” are associated with next week decrease of the Effective Federal Funds Rate. Google searches for “fed rate hike” and “fed raise rates” are associated with next week increase of the Effective Federal Funds Rate even after we control for a number of macroeconomic indicators. We also find that intensity of Google …

The Contributors, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.

Peramalan Penyediaan Dan Konsumsi Bahan Bakar Minyak Indonesia Dengan Model Sistem Dinamik, Ana Fitriyatus Sa’Adah, Akhmad Fauzi, Bambang Juanda

Jurnal Ekonomi dan Pembangunan Indonesia

This study contributes to the existing literature of oil industries in Indonesia by examining fuel supply and consumption in Indonesia. The objectives of this research were to predict fuel supply and consumption in Indonesia in the future. The model formed in this research was system dynamic. The simulation result showed that until 2016, fuel oil supply can meet the fuel oil consumption. From 2017 to 2025, fuel oil supply cannot meet domestic fuel oil consumption. In 2025, fuel oil supply is estimated up to 651.092 million barrel and fuel oil consumption is up to 719.048 million barrel.

Pengujian Trilemma Conditions Pada Perekonomian Indonesia, Mela Yunita, Noer Azham Achsani, Lukytawati Anggraeni

Jurnal Ekonomi dan Pembangunan Indonesia

The key challenge for monetary policy in emerging market countries is simultaneously maintain monetary independence, exchange rate stability, and join with financial integration. This research explain the interaction of monetary policy in Indonesia over time to answer those three challenge with a Trilemma conditions. This research evaluate the Bank Indonesia’s decision to change the exchange rate regime and applied ”inflation targeting”. The methods include to build the Trilemma’ index and testing the Trilemma with constant regression. The results indicate that Bank Indonesia has tradeoff in determining the combination of monetary policy objectives. Tradeoff for Bank Indonesia more heavy under free …

Keberadaan Ritel Modern Dan Dampaknya Terhadap Pasar Tradisional Di Dki Jakarta, Dianur Hikmawati, Chaikal Nuryakin

Jurnal Ekonomi dan Pembangunan Indonesia

This study aimed to analyze the impact of modern retail coexistence with traditional retail on traditional retail’s performance. Our observation is the 153 markets PD Pasar Jaya spread across DKI Jakarta and the modern retails (minimarkets, supermarkets, hypermarkets) location based on the retail zoning policy of Jakarta Regional Regulation No. 2/2002. This study used number of traditional retailers as a proxy of performance variable. The regression results indicate a non linear relationship between the number of modern retails–especially supermarket–and traditional retails performance in which the coexistence of one supermarket is positive for traditional market performance and negative afterwards.

Party Polarization, Political Alignment, And Federal Grant Spending At The State Level, William B. Hankins, Gary Hoover, Paul Pecorino

Research, Publications & Creative Work

Research on the distribution of federal expenditures has provided mixed evidence showing that states with more legislators who belong to the president’s party and states with more legislators in the chamber majority tend to receive a larger allocation of federal funds. We add to this research by considering how political polarization and political alignment impact these presidential and congressional determinants of how the domestic US budget is distributed to the states. Our results show that states with a larger percentage of senators in the majority can secure a larger share of federal grant expenditures per capita when political polarization is …

The Puzzle Of Pdvsa Bond Prices, Paolo Colla, Anna Gelpern, Mitu Gulati

Faculty Scholarship

Market reports in the summer of 2016 suggest that Venezuela is on the brink of default on upwards of $65 billion in debt. That debt comprises of bonds issued directly by the sovereign and those issued by the state-owned oil company PDVSA. Based on the bond contracts and other legal factors, it is not clear which of these two categories of bonds would fare better in the event of a restructuring. However, market observers are convinced — and we agree — that legal and contractual differences would likely impact the payouts on the bonds if Venezuela defaults. Using a comparison …

Tobacco Use, Health Care Utilization, Household Expenditure And Smoking Cessation In China, Changle Li

Chulalongkorn University Theses and Dissertations (Chula ETD)

This dissertation studied the tobacco use impact of on health care utilization, household expenditure, and self-rated health among rural residents in rural China. The 2010-2014 China Family Panel Studies data were employed here. Moreover, this study also conducted the randomized controlled trial and analyzed the cost-effectiveness smoking cessation intervention among college-aged smokers in Inner Mongolia, China. The main findings showed: (1) Current and former smokers use more outpatient care than non-smokers. Moreover, former smokers use more inpatient care than non-smokers in rural China. (2) Long-term quitters decreased the probability of using inpatient care compared with recent and moderate-term quitters in …

Regional Development Models With Clean Coal Power Plants, Christoph Casimir Odermatt

Chulalongkorn University Theses and Dissertations (Chula ETD)

This thesis examines clean coal technology to be used in Thailand in three studies. The economic impacts on the economic structure of southern Thailand are forecasted with the input-output method. Further, the relative levelized costs of clean coal energy relative to its amount of carbon equivalent emissions are compared to other technologies and their carbon equivalent emissions in order to compute a carbon certificate price. Lastly, the costs of the solar subsidy on the end consumer is calculated in different scenarios. The results suggest that there may be slight changes in the economic structure in southern Thailand with increases in …

Asset Pricing And Network Topology, Harnchai Eng-Uthaiwat

Chulalongkorn University Theses and Dissertations (Chula ETD)

This dissertation provides new empirical evidence for the relationship between network structure and asset returns in US, international markets, and Thailand. Previous studies find that a network of return correlations provides the meaningful economic taxonomy of the equity market. This finding makes the network structure a suitable channel through which an idiosyncratic shock propagates. This network feature can eliminate or amplify the idiosyncratic shock on the system-wide level. Therefore, the diversifying argument of the capital asset pricing models is not always true as the idiosyncratic shock becomes more significant when interacting with the network measures. Based on this idiosyncratic shock …

Economic Policy Uncertainty And Carry Trade Strategy, Tiranan Sanguanjeen

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study provides a comprehensive analysis of the impact of economic policy uncertainty on carry trade. Based on 24 countries (both emerging and developed markets) during the past 17 years, the paper considers five strategies of carry trade investment (i.e. positive carry, carry to risk, yield slope, policy change and valuation), three methods of portfolio constructions (equal weight, risk parity and mean variance optimization), and four types of economic policy uncertainties (US, Japan, EU and Global). Based on vector autoregressive model, it is found that US and Japan economic policy uncertainties have most impact on carry trade return. However, direction …

Cost-Effectiveness Analysis Of Aripiprazole Compare With Risperidone In Patient With Autism Spectrum Disorders, Kridsadadanudej Wongwejwiwat

Chulalongkorn University Theses and Dissertations (Chula ETD)

Autism spectrum disorders (ASD) are a group of deficits in social interaction and social communication (American Psychiatric Association, 2013). The result of a study in Thailand found that ASD patients with less self-reliance increased the number of caregivers, indirect costs and total costs (Naruemol Junsamut, 2014). Risperidone and aripiprazole showed the effectiveness for treating irritability/disruptive behavior in ASD (LeClerc & Easley, 2015). The objective of this research was to estimate the cost-effectiveness of aripiprazole compared with risperidone for treating ASD patient. Seven studies were selected to analyze the outcomes of effectiveness utilizing network meta-analysis. The number of improving symptoms that …

Factors Associated With Infant And Under-Five Mortality In Myanmar, Lal Hrin Mawi

Chulalongkorn University Theses and Dissertations (Chula ETD)

Myanmar is committed to achieve unfinished agenda for reducing child mortality, fourth indicator of Millennium Development Goals (MDGs) and global target to achieve under-five mortality rate 25 per 1000 live births in 2030. Moreover, under-five mortality varies across states and regions within the country and the study aims to explore determinants of mortality across different health care planning zones. The results showed that infants who were breastfed had lower risk of death by 11.7 percent comparison with children who were not, and twin or multiple births were more likely to die by 8.1%. Moreover, short preceding birth interval, mothers with …

Private Stakeholders’ Perception On Leveraging Provider Payment Methods For Both Public And Private Sectors To Help Meet National Health Goals In Myanmar, Nay Nyi Nyi Lwin

Chulalongkorn University Theses and Dissertations (Chula ETD)

Myanmar has committed to achieving universal health coverage (UHC) by 2030. With a poor economy and scarce resource, the government alone cannot achieve UHC without the collaboration of private stakeholders which has an increasing role in the health sector with evolving political and administrative circumstances. To uplift equitable access to essential quality health care services with financial risk protection and efficiency, the country is eager to know a suitable mix of provider payment methods which can be used as key levers to support achieving UHC goals. This study is designed to explore the private stakeholders' perception on leveraging provider payment …

Technical Efficiency Of Private Clinics Under Universal Coverage Scheme In Bangkok, Thailand, Pimpitcha Kangyang

Chulalongkorn University Theses and Dissertations (Chula ETD)

This study aimed to measure technical efficiency of 88 private clinics under Universal Coverage Scheme (UC) in Bangkok in fiscal year 2017 and to identify the factors affecting their technical efficiency. The study was divided to two parts. The first part was measuring of technical efficiency with data envelopment analysis (DEA) and the second part was identifying the factors affecting efficiency with regression analysis using Tobit model. The result of DEA under a variable return to scale assumption showed that 84 private clinics under UC (95.45 percent of the target of study) were operating on pure technical efficiency frontier (VRSTE), …