Economics Commons^™

Essays On The Law Of One Price In Financial Markets And The Recent Financial Crisis, Igor Sorkin

Dissertations, Theses, and Capstone Projects

Essay 1: The theory of the Law of One Price (LOOP) is one of the most important theories in International Economics. I use financial markets to revisit the validity of the LOOP in the short run, and then extend the analysis into the long-run to examine whether events such as the Financial Crisis of 2007-2009 can lead to the failure of the LOOP or worsen deviations from it. Using the data on Canadian companies cross-listed on the New York Stock Exchange, I find strong support that the LOOP holds in a cross-sectional framework despite the fact that the sample includes …

Imagining Basic Income As An International And Domestic Remedy To Wealth Inequality, Christian A. Davis

Dissertations, Theses, and Capstone Projects

Has the success of corporate capitalism undermined the neoliberal ideas it presupposes, leading to the inevitable growth of socialism? While labor unions may lament the export of jobs, the real issue in today’s increasingly administered and mechanized economy is the global loss of jobs. James Ferguson has provided a strong argument that despite the triumphalist narratives of neoliberalism, capitalist development strategies particularly in South Africa have resulted in concentrated wealth, large unemployment, and the growth of transfer payments. More importantly, he shows how traditional critics of capitalism fall short in addressing the issues of a jobless future. For example, Marxists …

Why Do Negative Employment Outcomes For Workers With Disabilities Persist?: Investigating The Effects Of Human Capital, Social Capital, And Discrimination, Martine Maculaitis

Dissertations, Theses, and Capstone Projects

Little is known about why poor job outcomes for workers with disabilities (WD) persist. Hence, the aim of this study was to combine and extend human capital, social capital, and multiple jeopardy advantage theories to develop and test a comprehensive model of the processes explaining job outcomes for WD. Data from the 2010 US National Health Interview Survey (N=3,887) and O*Net were analyzed to investigate the extent to which disability status (i.e., WD with work limitations, WD with no work limitations, or non-disabled workers [NDW]) relates to four types of work outcomes (i.e., annual compensation, employment status, job …

Three Essays On Fiscal Policy, Sinem Buber Singh

Dissertations, Theses, and Capstone Projects

This dissertation examines the domestic and international effects of fiscal policy shocks on country risk, stock markets returns and trading partners. There are three essays in this study.

First essay examines the relative impacts of macroeconomic, financial and political variables on country risk for five advanced economies; the US, the UK, Canada and Singapore for 1984:M1-2014:M12 and Germany for 1990:M9-2014:M12 time periods. To do so, I follow a two stage estimation procedure. In the first stage, a CAPM is used to estimate time-variant country betas which are used as a proxy for country risk by using a DCC-GARCH model. Then, …

Capitalism And Unfreedom: Louis D. Brandeis And A Liberty Of The Left, Eric L. Apar

Dissertations, Theses, and Capstone Projects

The American Right features a well-developed—and well-heeled—infrastructure for promoting a conception of freedom as inextricable from capitalism. The American Left, by contrast, has seemed content to cede the territory, abandoning the ground of freedom for the terrain of “equality,” “justice,” “fairness,” and “prosperity.” This paper is an effort to address this asymmetry in the public discourse over the meaning of freedom. Its principal objective is to capture the vision of freedom embodied in the political and economic thought of Louis D. Brandeis, one of the American Left’s ablest expositors of freedom.

In addition, the paper has three subsidiary objectives. The …

The Failure Of Post-War Reconstruction In Jaffna, Sri Lanka: Indebtedness, Caste Exclusion And The Search For Alternatives, Ahilan Kadirgamar

Dissertations, Theses, and Capstone Projects

Reconstruction of contemporary war-torn societies can lead to further dispossession and social exclusion, particularly through neoliberal development policies and financialized indebtedness. This dissertation analyses post-war reconstruction of the Jaffna District in the Northern Province of Sri Lanka after the end of a brutal three decade long civil war in May 2009, through a survey and ethnographic study of one village, Pathemany and its oppressed caste quarter, Bharathy Veethy. Drawing on a study of Pathemany village on agrarian change before the war, this study addresses contemporary questions about land, rural incomes, rural debt and caste structure. The study evaluates reconstruction policies …

Overpopulation And The Impact On The Environment, Doris Baus

Dissertations, Theses, and Capstone Projects

In this research paper, the main focus is on the issue of overpopulation and its impact on the environment. The growing size of the global population is not an issue that appeared within the past couple of decades, but its origins come from the prehistoric time and extend to the very present day. Throughout the history, acknowledged scientists introduced the concept of “overpopulation” and predicted the future consequences if the world follows the same behavioral pattern. According to predictions, scientists invented the birth control pill and set population control through eugenics. Despite that, population continued to increase and fight with …

Production Of Energy And Environmental Protection As A Prerequisite For Sustainable Development, Diana Baus

Dissertations, Theses, and Capstone Projects

This paper explains why renewable energy is a prerequisite for sustainable development. The development of renewable energy sources is important because renewable energy sources have a very important role in reducing emissions of carbon dioxide (CO₂) into the atmosphere, eradicate poverty and increase the employment rate. In the first section the paper introduces renewable energy sources. The focus is on the function of solar energy, wind power, biomass, geothermal energy, and hydroelectric energy and their implementation globally. The second part of the paper elaborates on the economic, political, and social aspects for the development of renewable energy sources. …

By Beauty Damned: Millennial Feminism And The Exploitation Of Women's Empowerment In Pop Culture And Corporate Advertising, Maria L. Carreon

Dissertations, Theses, and Capstone Projects

Feminism has become a trendy cultural identity, leaving it open to exploitation by capitalists. Notions relating to “women’s empowerment” are used by capitalists to sell products to women, and yet many of those capitalists fund political campaigns that directly seek to quash or inhibit the advancement of women’s rights. With a little effort, any consumer can find out who their big purveyors are supporting politically. For example, Procter Gamble, who makes many products bought by women, gives the majority of its political contributions to republicans who oppose women’s reproductive rights. The same is true of McAndrews & Forbes, the parent …

Local Immigration Enforcement Entrepreneurship In The Punishment Marketplace, Daniel L. Stageman

Dissertations, Theses, and Capstone Projects

The contemporary neoliberal economic order plays a significant role in American social organization and policy-making. Most importantly, neoliberal ideology drives the creation and imposition of markets in public goods and services and the valorization of free market ideology in cultural life. The neoliberal ‘project of inequality’ is in turn delimited and upheld by an authoritarian system of punishment built around mass incarceration, surveillance, and an unprecedented level of social control directed at the lowest strata of American society – a group that includes both the urban underclass, and unauthorized immigrants.

This study lays out the theory of the punishment marketplace …

Essays In Corporate Responsibility And Finance, Mert Demir

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters:

Chapter 1: The Effects of Corporate Social Performance and Social Norms on Market Valuation of Nonfinancial Disclosures Using a novel measure of the quality of corporate social responsibility (CSR) disclosures by global companies, this paper analyzes how CSR report quality affects firm value when mediating roles of social pressure and CSR performance are considered. I find that firms operating in socially controversial industries enjoy higher valuations when they issue high-quality CSR reports. I also find that for firms with poor CSR performance, higher-quality CSR disclosure is associated with a decline in firm value, while …

Teaching Piketty To Undergraduates, Humberto Barreto

School of Business and Leadership Working Papers

The primary ideas in Piketty’s Capital should be incorporated into the economics curriculum. Unfortunately, its theoretical foundation—the Solow Model—when conventionally taught with a Solow diagram or analytical solution, is beyond the reach of the typical undergraduate. The model, however, can be effectively presented via simulation, with steady-state and comparative statics properties directly observed. A single, standalone, macro-enhanced Excel workbook, Capital.xlsm, is all that is needed to teach the main ideas in Piketty’s Capital. Download it here www.depauw.edu/learn/econexcel or from this direct link: www.depauw.edu/learn/econexcel/Capital.xlsm

The Impact Of Education On Political Ideology: Evidence From European Compulsory Education Reforms, Andrew G. Meyer

Economics Faculty Research and Publications

Previous research documents a correlation between education and political ideology, usually indicating a positive relationship between education and left-wing political views. In this paper, I examine to what extent this association is causal. I merge political ideology data from 25 waves of Eurobarometer surveys with information on 18 educational reforms in 11 European countries. I then instrument for educational attainment with a regression discontinuity design that estimates the increase in education due to compulsory educational reforms. Notably, it appears that omitted variables bias is important here. I find a significant causal effect of education moving individuals to the right when …

Medicaid, Family Spending, And The Financial Implications Of Crowd-Out, Marcus Dillender

Upjohn Institute Working Papers

A primary purpose of health insurance is to protect families from medical expenditure risk. Despite this goal and despite the fact that research has found that Medicaid can crowd out private coverage, little is known about the effect of Medicaid on families' spending patterns. This paper implements a simulated instrumental variables strategy with data from the Consumer Expenditure Survey to estimate the effect of an additional family member becoming eligible from Medicaid on family-level health insurance coverage and spending. The results indicate that an additional family member becoming eligible for Medicaid increases the number of people in the family with …

Random Assignments On Preference Domains With A Tier Structure, Peng Liu, Huaxia Zeng

Research Collection School Of Economics

We address a standard random assignment problem (Bogomolnaia and Moulin (2001)) and search forsd-strategy-proof, sd-efficient and sd-envy-free or equal-treatment-of-equals rules.Our main result is that on a connected domain (Sato (2013)),if there exists a rule satisfying these axioms, this domain is endowed with a restricted tier structure.Furthermore, we show that, on such a domain, the Probabilistic Serial rule is the unique rulethat satisfies these axioms.As an extension, we introduce outside options to the model, and establish the same characterizations.

Deviance Information Criterion For Bayesian Model Selection: Justification And Variation, Yong Li, Jun Yu, Tao Zeng

Research Collection School Of Economics

Deviance information criterion (DIC) has been extensively used for making Bayesian model selection. It is a Bayesian version of AIC and chooses a model that gives the smallest expected Kullback-Leibler divergence between the data generating process (DGP) and a predictive distribution asymptotically. We show that when the plug-in predictive distribution is used, DIC can have a rigorous decision-theoretic justification under regularity conditions. An alternative expression for DIC, based on the Bayesian predictive distribution, is proposed. The new DIC has a smaller penalty term than the original DIC and is very easy to compute from the MCMC output. It is invariant …

Jobs For Justice(S): Corruption In The Supreme Court Of India, Madhav S. Aney, Shubhankar Dam, Giovanni Ko

Research Collection School Of Economics

We investigate whether judicial decisions are affected by career concerns of judges byanalysing two questions: Do judges respond to pandering incentives by ruling in favourof the government in the hope of receiving jobs after retiring from the Court? Does thegovernment actually reward judges who ruled in its favour with prestigious jobs? To answerthese questions we construct a dataset of all Supreme Court of India cases involving thegovernment from 1999 till 2014, with an indicator for whether the decision was in its favouror not. We find that pandering incentives have a causal effect on judicial decision-making.The exposure of a judge to …

Vat Treatment Of Financial Institutions, Ismail Baydur, Fatih Yilmaz

Research Collection School Of Economics

This paper studies the effects of exempt treatment of financial services under a VATsystem. We develop a general equilibrium model with elastic labor supply, endogenous entry, anda banking sector. The banking sector provides loan services to producers and payment servicesto consumers. Our model display three key distortions under exempt treatment: (i) self-supplybias in the banking sector, (ii) consumption distortions, (iii) input distortions and tax cascading.Then, we calibrate our model to match the salient features of the tax system EU countries. Atax neutral policy regime switch from exempt treatment to full-taxation in loan services improveswelfare about 4%. Shutting down the entry …

The War On Poverty: Lawyers And Logistics, James M. Rose

The Catholic Lawyer

No abstract provided.

Using Natural Experiments To Identify The Effects Of Snap On Child And Adult Health, Daniel P. Miller, Taryn W. Morrissey

University of Kentucky Center for Poverty Research Discussion Paper Series

The Supplemental Nutrition Assistance Program (SNAP; formerly known as food stamps) can have important impacts that extend beyond its intended aims to improve food security and nutrition, particularly for health and health care use. This project examined the impact of SNAP receipt and benefit level on the health of adults and children using two natural experiments to address selection bias: 1) state policy variation in SNAP in an instrumental variables (IV) analysis; and, 2) the temporary expansion of SNAP benefits and eligibility provided through the American Recovery and Reinvestment Act (ARRA) in a difference-in-difference (DD) approach. We used restricted data …

Mseel Project Context: State Of The Region (2001-2014), Caleb Stair, Sriparna Ghosh, Randall Jackson

Regional Research Institute Resource Documents

The Marcellus Shale Energy and Environmental Laboratory, or MSEEL is the nation’s first integrated research initiative on shale gas drilling. An experimental hydraulic fracturing gas well is the centerpiece of the MSEEL project, "which West Virginia University launched in fall 2014 in partnership with Northeast Natural Energy, the National Energy Technology Laboratory of the U.S. Department of Energy and Ohio State University. The five-year, $11 million project is the first-ever long-term, comprehensive field study of shale gas resources in which scientists will study the process from beginning-to-end.1 ” Because one dimension of the MSEEL analysis is the economic impacts and …

Analisis Minimisasi Biaya Amlodipin Generik Dan Bermerk Pada Pengobatan Hipertensi Di Rs X Pekanbaru Tahun 2015, Hanny Merliana, Amal Chalik Sjaaf

Jurnal Ekonomi Kesehatan Indonesia

Hypertension in a big challenge in Indonesia, proven by its prevalence that reached 25% in 2013 and conditions that mostly found in primary health care. In addition, hypertension management is considered to be suboptimal despite the availability of effective drugs. Amlodipine is one of anti-hypertensive that is commonly prescribed by X Hospital, Pekan Baru. Therefore, it is important to do cost minimization analysis to compare both generic and branded Amlodipine as an implementation of cost and quality control. This retrospective study involved early and medium stage of hypertensive patients that have at least a month period of treatment from January …

Analisis Biaya Akibat Sakit Serta Kualitas Hidup Pasien Diabetes Mellitus Tipe 2 Dengan Penyakit Jantung, Lusiani Septika Sari

Jurnal Ekonomi Kesehatan Indonesia

Indonesia is the fourth most deaths due diabetes mellitus and heart disease among south Asia countries. Cost of illness from diabetes mellitus with heart disease is the highest cost if it is compared with combination of diabetes mellitus with other chronic disease. This study with 110 patients as samples is aiming to describing the cost of illness and quality of life of patients with type 2 diabetes mellitus with heart disease in X public hospital. With cross sectional research design, primary data is collected with survey technique that uses structured questionnaire and secondary data is obtained through medical record document …

Analisis Implementasi Kebijakan Rujuk Balik Diabetes Melitus Di Puskesmas X Kota Tangerang Selatan, Aries Hamzah, Wahyu Sulistiadi

Jurnal Ekonomi Kesehatan Indonesia

The Increasing of Prevalence of Diabetes Mellitus will increase health expenditure in Universal Health Coverage (JKN). The role of health primary care as the front side in health services on back referral for Diabetes disease becomes very important. The purpose of this study was to determine the effectiveness of policy implementation in Diabetes Mellitus back referral behind PHC X 2014. This study used a qualitative approach to the study design content analysis and triangulation methods. Primary data obtained by in-depth interviews, focus groups, and observations in the field. Secondary data were obtained from policy documents and literature. The results showed …

Biaya Satuan Dan Pemulihan Biaya (Cost Recovery Rate) Layanan Pasien Acute Coronary Syndrome Dengan Rawat Inap Di Rumah Sakit X Tahun 2015, Anna Aurelia, Eka Pujiyanti

Jurnal Ekonomi Kesehatan Indonesia

X Hospital is a Class C Hospital in South Jakarta, which experiencing a substantial increased number of patients since the BPJS has implemented the referral system. Acute Coronary Syndrome (ACS) patient is a patient with a medical emergency require intensive treatment in the ICU. The purpose of this study was to analyze the cost for hospitalized ACS patients at X Hospital in 2015 using activity based costing. The study revealed that the unit cost of hospitalized ACS patients at X Hospital in 2015 was Rp 6.083.444,-. The Cost Recovery Rate for patients with fee-for-service was 227.98% and for BPJS patient …

Cost Effectiveness Analysis Between Hemodialysis And Peritoneal Dialysis, Elsa Novelia, Ryan Rachmad Nugraha, Hasbullah Thabrany

Jurnal Ekonomi Kesehatan Indonesia

The number of patients with End Stage Renal Disease (ESRD) in Indonesia is growing. Increasing prevalence of hypertension and diabetes mellitus contributes to higher prevalence of ESRD. The majority of patients (94%) with ESRD are undertaking hemodialysis (HD) at public and private hospitals. However, continuous ambulatory Peritoneal Dialysis (PD) has been prescribed to small portion of patients with ESRD. The aim of this study was to examine the cost effectiveness between HD and PD on ESRD patients. This study compared 78 HD patients at Hospital X in Bogor and 10 PD patients at Hospital Y in Jakarta. Patient’s quality of …

Strategi Pemasaran Pelayanan Continuous Ambulatory Peritoneal Dialysis Di Klinik Khusus Ginjal X Batam Tahun 2016, Bertha Toha, Vetty Y Ulianty Permanasari

Jurnal Ekonomi Kesehatan Indonesia

Currently only 53% of patients with end-stage renal disease that can access dialysis and mostly get Hemodialysis (HD), whereas the cost to Continous Ambulatory Peritoneal Dialysis (CAPD) cheaper than HD (Ministry of Health, 2016). Services of CAPD in Clinic for Kidney Disease X. Batam began since 2010, but the number of CAPD patients only 3% of the end stage renal disease patients there. The purpose of this study to analyze the Marketing Strategy of Continuous Ambulatory Peritoneal Dialysis Services at the Clinic for Kidney Disease X Batam Year 2016. The design of the study is an analytic descriptive with quantitative …

The Government’S Influence On Sweatshops In Developing Countries, Alicia Whittle Rooks Mrs.

Siegel Institute Ethics Research Scholars

This paper will concentrate on the local influence governments have had on sweatshop factories in developing countries. Based on the literature reviewed and analyzed, it was important to discuss several topics surrounding government influence. Topics covered in this paper include: the ethics behind sweatshops, workers’ wages and their choices, government responsibility, and then ending with introducing the Framing Theory. This particular theory was useful in part because of the method implemented in this research paper. The Framing Theory is closely associated with media content because it attempts to compare what the media says on a particular topic verse what the …

Nebraska Retailing Activity Changes Since 1990 And The Effect Of The Great Recession By Town/City Size Classes, Anil Giri, Bruce B. Johnson

Cornhusker Economics

Retailing is an important sector of our state’s economy and is watched carefully as an indicator of overall economic performance. This retailing activity, however, is not evenly distributed across different town/ city size classes. Large cities and towns serve as retail centers for larger geographic areas as well as for some nearby small towns. In other words, small trade centers experience trade leakage relative to their population and large centers experience retail gain relative to their population. Relative retail activity can be measured and hence compared using Pull Factor (PF) as a metric.

In essence, PF measures the relative market …

Searching For Illicit Behavior Through Changes In Productivity: The Case Of Roger Clemens And Performance-Enhancing Drugs, John Charles Bradbury

Faculty Articles

Major League Baseball pitcher Roger Clemens has been accused of using performance-enhancing drugs to boost his performance. If Clemens used ergogenic aids consistent with the accusations of use, then unusual changes in productivity may be evident in his performance record. Two previous studies have examined Clemens’s career and reached conflicting conclusions: Bradlow et al. (2008) declares Clemens’s career to be “atypical” while Albert (2009) finds Clemens’s productivity to be unusually strong but similar to other pitchers who have not been linked with performance-enhancing drugs. This study examines Clemens’s performance at times of alleged use and over his career and finds …