Economics Commons^™

#Deleteuber: Hashtag Crises And Chaos, Kimberly Legocki, Kristen Walker

School of Economics and Business Administration Faculty Works

No abstract provided.

Who Actually Benefits From Changes In Legal Standards? Evidence From Water Disputes In 19th Century California?, Mark Kanazawa

Department of Economics Working Paper Series

This paper attempts to answer a fundamental question about the effect of a change in a legal standard on the parties to a dispute: How do we know who is benefited by a change in a legal standard? The answer to this question may seem obvious, particularly if you state it concretely: Who will benefit from a change in a legal standard that is more likely to find drivers at fault in automobile-pedestrian collisions? 1 Surely the answer is pedestrians. Stated more generally, how do we know that a rule change that seems to benefit a class of parties to …

Borderplex Business Barometer, Volume 1, Number 10, Thomas M. Fullerton Jr., Adam G. Walke, Omar Solís, Patricia Arellano

Border Region Modeling Project

No abstract provided.

Mexico Consensus Economic Forecast, Volume 20, Number 4, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

Borderplex Economic Outlook To 2019, Thomas M. Fullerton Jr., Adam G. Walke

Border Region Modeling Project

No abstract provided.

Does Athletic Success Influence Persistence At Higher Education Institutions? New Evidence Using Panel Data, Daniel C. Hickman, Andrew G. Meyer

Economics Faculty Research and Publications

This study examines the relationship between athletic success and student persistence toward a degree. We build an updated panel of National Collegiate Athletic Association (NCAA) Division I institutions and utilize within-institution variation to identify the effects of athletic success. Using a ranking of all institutions, we find that having more successful men's basketball and football teams has a significant positive effect on first-year retention rates. We also find some evidence that improved basketball rankings increase graduation rates, and that success in the NCAA tournament may have a sizable impact on retention. Although the estimated effects are generally modest in scale, …

Perceptions Of Institutional Quality: Evidence Of Limited Attention To Higher Education Rankings, Andrew G. Meyer, Andrew R. Hanson, Daniel C. Hickman

Economics Faculty Research and Publications

Rankings of colleges and universities provide information about quality and potentially affect where prospective students send applications for admission. We find evidence of limited attention to the popular U.S. News and World Report rankings of America’s Best Colleges. We estimate that applications discontinuously drop by 2%–6% when the rank moves from inside the top 50 to outside the top 50 whereas there is no evidence of a corresponding discontinuous drop in institutional quality. Notably, the ranking of 50 corresponds to the first page cutoff of the printed U.S. News guides. The choice of college is typically a one-time decision with …

Do College Admissions Counselors Discriminate? Evidence From A Correspondence-Based Field Experiment, Andrew R. Hanson

Economics Faculty Research and Publications

I design and implement a correspondence based field experiment to test for race and gender discrimination among college admissions counselors in the student information gathering stage. The experiment uses names to identify student race and gender, and student grade, SAT score, and writing differences to reflect varying levels of applicant quality. I find that counselors do not respond differently by race in most cases, but there are measurable differences in response/non-response and in the type of correspondence sent that favor female students. I also find that the quality of the student induces large differences in the type of response.

Student Global Mobility: An Analysis Of International Stem Student Brain Drain, Margaret E. Gesing

Educational Leadership & Workforce Development Theses & Dissertations

This study seeks to understand global mobility patterns of international graduate STEM students studying in the United States. Using data from the NSF Graduate Students in Science Survey (GSSS), this study investigates the political, economic, and social factors affecting students' intent to stay or go, identifying differences based on students' country of origin within World Bank defined categories of gross national income (GNI) per capita. Descriptive statistics identified factors affecting students' intent to stay or go. Chi-square analysis, and analysis of variance (ANOVA) identified differences between factors based on students' intent to stay or go, and identified differences based on …

Land Insecurity In Gulu, Uganda: A Clash Between Culture And Capitalism, Zachary Slotkin

Independent Study Project (ISP) Collection

This paper presents the causes and consequences of land insecurity in Gulu, Uganda. In order to address this important and often sensitive issue, the paper analyzes the role of the Lord’s Resistance Army (LRA) insurgency and the government’s policy of forced encampment during the insurgency in contributing to land insecurity, causing widespread displacement among former internally displaced persons (IDPs). It further explores the importance of land ownership in providing economic productivity to rural landowners, as well as the nature of customary land tenure in Acholi culture and the government’s efforts to privatize communal land, to give a background on the …

Asean And The South China Sea: Approaches To Resolving The Conflict, Jennifer Jie Li

Independent Study Project (ISP) Collection

In recent years, tensions have escalated between actors in the South China Sea, one of which is the Association for Southeast Asian Nations (ASEAN), the region’s primary intergovernmental organization. The purpose of this report is to determine the effectiveness of ASEAN in resolving the South China Sea disputes and to clarify how geopolitical factors have impacted the organization’s actions. Through an analysis of evolving maritime claims and the current state of affairs, this paper suggests that ASEAN must be involved in any attempt to resolve the conflict peacefully. Acknowledging the importance of the diplomatic channels that ASEAN has created to …

An Abbreviated Leap: The Geopolitical And Geoeconomic Significance Of The China – Pakistan Economic Corridor To The New Silk Road, Emma Nichols

Independent Study Project (ISP) Collection

The objective of this analysis is to reveal the geopolitical and geoeconomic significance of the China – Pakistan Economic Corridor of the Belt and Road Initiative to its major stakeholders; Pakistan and China. In 2013, Chinese President Xi Jinping unveiled one of the most ambitious international infrastructure plans in modern history. The plan, in its earliest stages, is currently underway with its first portion, the China – Pakistan Economic Corridor (CPEC). Through careful preliminary analysis of the greater Belt and Road Initiative, the China – Pakistan Economic Corridor, and history of Sino-Pak relations, the motivations of the collaborating nations are …

Russia's Northern Rook: Nord Stream 2 On The European Energy Chessboard, David E. Wilson

Independent Study Project (ISP) Collection

The Nord Stream 2 pipeline proposes to connect Germany to the world’s largest natural gas reserves in Russia, allowing the state-owned Russian energy behemoth Gazprom to double its export capacity through the ‘Northern Corridor’ transit route to Europe. This project has been the subject of sharp disapproval from Central and Eastern European countries, as well as the United States, which fear the prospect of increasing dependence on gas imports from a Russia perceived as politically aggressive and unreliable. This paper will identify the geopolitical and geoeconomic implications involved in the construction of Nord Stream 2 by adopting a geostrategic worldview …

Evaluating Frameworks For Multilateral Investor-State Dispute Settlement, Danielle Rosenthal

Independent Study Project (ISP) Collection

Utilizing both empirical studies of investor-state dispute settlement (ISDS) regimes and the accounts of both public and private practitioners of these processes, this study aims to inform public policymakers, multinational corporation leadership, and academic researchers on some of the key issues to consider when developing a multilateral friendly ISDS regime. By analyzing the procedural and functional details of both traditional arbitration (via the International Centre for Settlement of Investment Disputes and the United Nations Commission on International Trade Law) and investment dispute courts (via those proposed in the Trans-Atlantic Trade and Investment Partnership and the EU Canada Comprehensive Economic and …

(Wp 2017-04) Behavioral Economics And The Positive-Normative Distinction: Sunstein’S Choosing Not To Choose And Behavioral Economics Imperialism, John B. Davis

Economics Working Papers

This paper examines behavioral economics’ use of the positive-normative distinction in its critique of standard rational choice theory as normative, and argues that it departs from Robbins’ understanding of that distinction in ways that suggest behavioral economists themselves do not observe that distinction. One implication of this is that behavioral economists generally do not recognize Putnam’s fact-value ‘entanglement thesis’ while a second implication is that the charge that rational choice theory is descriptively inadequate paradoxically appears to mean that it does not employ the implicit value basis and normative vision that behavioral economics recommends, thus actually violating Robbins’ distinction. This …

2016 Economic Contribution Of Nonresident Travel Spending In Montana Travel Regions And Counties, Kara Grau

Institute for Tourism and Recreation Research Publications

Money spent by those traveling in Montana has an effect directly on the businesses where spending occurs, and it ripples throughout the state’s economy from there. Statewide, spending by nonresidents (averaged over two years) totaled $3.16 billion. This report details the methods and results of the economic impact analyses for each of Montana’s travel regions, as well as analyses for counties in which nonresident travelers spent approximately $50 million or more.

2016 Nonresident Visitation, Expenditures & Economic Impact Estimates, Kara Grau

Institute for Tourism and Recreation Research Publications

A collection of 2016 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.

Do Recessions Accelerate Routine-Biased Technological Change? Evidence From Vacancy Postings, Brad J. Hershbein, Lisa B. Kahn

Employment Research Newsletter

No abstract provided.

The 2008 Economic Stimulus Payments Increased Emotional Well-Being, Marta Lachowska

Employment Research Newsletter

No abstract provided.

Information (Non)Aggregation In Markets With Costly Signal Acquisition, Brice Corgnet, Cary Deck, Mark Desantis, David Porter

ESI Working Papers

Markets are often viewed as a tool for aggregating disparate private knowledge, a stance supported by past laboratory experiments. However, traders’ acquisition cost of information has typically been ignored. Results from a laboratory experiment involving six treatments varying the cost of acquiring signals of an asset’s value suggest that when information is costly, markets do not succeed in aggregating it. At an individual level, having information improves trading performance, but not enough to offset the cost of obtaining the information. Although males earn more through trading than females, this differential is offset by the greater propensity of males to buy …

Random Mechanism Design On Multidimensional Domains, Shurojit Chatterji, Huaxia Zeng

Research Collection School Of Economics

We study random mechanism design in an environment where the set of alternatives has a Cartesian product structure. We first show that all generalized random dictatorships are strategy-proof on a minimally rich domain if and only if the domain is a top-separable domain. We next generalize the notion of connectedness (Monjardet, 2009) to establish a particular class of top-separable domains: connected domains, and show that in the class of minimally rich and connected domains, the multidimensional single-peakedness restriction is necessary and sufficient for the design of a flexible random social choice function that is unanimous and strategy-proof. Such a flexible …

The Long-Term Health Effects Of Fetal Malnutrition: Evidence From The 1959-1961 China Great Leap Forward Famine, Seonghoon Kim, Belton Fleisher, Jessica Ya Sun

Research Collection School Of Economics

We report evidence of long-term adverse health impacts of fetal malnutrition exposure of middle-aged survivors of the 1959-1961 China Famine using data from the China Health and Retirement Longitudinal Study. We find that fetal exposure to malnutrition has large and long-lasting impacts on both physical health and cognitive abilities, including the risks of suffering a stroke, physical disabilities in speech, walking and vision, and measures of mental acuity even half a century after the tragic event. Our findings imply that policies and programs that improve the nutritional status of pregnant women yield benefits on the health of a fetus that …

Do Security Analysts Learn From Their Colleagues?, Kenny Phua, T. Mandy Tham, Chi Shen Wei

Research Collection Lee Kong Chian School Of Business

We examine how learning from colleagues affects security analyst forecast outcomes. We represent the brokerage house as an information network of analysts connected through industry overlaps in their coverage portfolios. Analysts who are more centrally connected in their brokerage network produce more accurate forecast estimates and generate more influential forecast revisions. Consistent with learning, more central analysts tend to unwind their colleagues’ recent forecast errors in their forecast revisions. Learning appears to benefit all colleagues, as working at more interconnected brokerages (i.e., denser networks) improves forecast accuracy for all analysts.

Strong Consistency Of Spectral Clustering For Stochastic Block Models, Liangjun Su, Wuyi Wang, Yichong Zhang

Research Collection School Of Economics

In this paper we prove the strong consistency of several methods based on thespectral clustering techniques that are widely used to study the communitydetection problem in stochastic block models (SBMs). We show that under someweak conditions on the minimal degree, the number of communities, and theeigenvalues of the probability block matrix, the K-means algorithm applied tothe Eigenvectors of the graph Laplacian associated with its first few largesteigenvalues can classify all individuals into the true community uniformlycorrectly almost surely. Extensions to both regularized spectral clustering anddegree-corrected SBMs are also considered. We illustrate the performance ofdifferent methods on simulated networks.

Specification Test For Spatial Autoregressive Models, Liangjun Su, Xi Qu

Research Collection School Of Economics

This article considers a simple test for the correct specification of linear spatial autoregressive models, assuming that the choice of the weight matrix Wn is true. We derive the limiting distributions of the test under the null hypothesis of correct specification and a sequence of local alternatives. We show that the test is free of nuisance parameters asymptotically under the null and prove the consistency of our test. To improve the finite sample performance of our test, we also propose a residual-based wild bootstrap and justify its asymptotic validity. We conduct a small set of Monte Carlo simulations to investigate …

Female Executives And Corporate Cash Holdings, Binay K. Adhikari

School of Economics and Finance Faculty Publications

I find that firms led by female top executives hold more cash, partly due to precautionary motives. To overcome endogeneity concerns, I employ several econometric techniques, including an instrumental variable analysis based on a historical event that resulted in a plausibly exogenous variation in the female workforce participation. Overall, my results are consistent with the view that greater risk-aversion leads female executives to hold more cash.

A Pragmatic Foreign Policy, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

PAKISTAN has decided to opt for a paradigm shift in its foreign policy. It has also for the first time wisely used its strategic location for deriving long-term economic benefits for the people of this country, particularly in the face of the heightened risk of shrinking foreign capital flows from Western bilateral or multilateral sources. CPEC should be the beginning of a long overdue process of using economic interests rather than politics as the pivot for our relationships with our neighbours. China’s own example should guide us. Despite political disputes, China’s trade with India is worth $100 billion annually. It …

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an …

Who Influences Your Outcomes? The Effect Of Culture And Ethnic Origin, Neighborhood And Peers On Personal Income: A Spatial Econometric Analysis Of New York City, Anna Arakelyan

Dissertations, Theses, and Capstone Projects

Being a “social animal”, each person is inherently embedded into a complex structure of social relations. He has role models to aspire to, conformity rules to follow, and expectations to meet. This paper explores the different social influences each person experiences in life. Specifically, I consider how a person’s ethnic community, age reference group, occupational and industry group peers, and residential area neighbors affect his total income. I introduce a novel model of multiple social networks and discuss various identification implications. I apply the model empirically to New York City, which naturally is a very favorable environment to test for …

Essays On Economics Of Inequality, Aboozar Hadavand

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters all around the subject of inequality. The first chapter provides a novel analysis of the trend in income inequality in the United States between 1979--2013. There are two ways in which this chapter contributes to the literature. First, I analyze how much of the existing inequality in the U.S. is due to the demographic changes that happened over this period. Using microdata from Luxembourg Income Study and after decomposing inequality into within- and between-age group components, I find that the within-group share of overall inequality in the U.S. is high and steady compared to …