Economics Commons^™

Identifying Price Bubble Periods In The Energy Sector, Shahil Sharma, Diego Escobari

School of Economics and Finance Faculty Publications

In this paper we test for the existence of single and multiple episodes of explosive behavior in three energy sector indices (crude oil, heating oil, and natural gas) and five energy sector spot prices (West Texas Intermediate (WTI), Brent, heating oil, natural gas, and jet fuel). The results from the Supremum Augmented Dickey-Fuller (SADF) and the Generalized SADF tests provide strong statistical evidence of explosive behavior in all of our energy series. A simple theoretical framework of commodity pricing allows us to understand the assumptions to interpret explosive behavior as bubbles. By constructing implied convenience yields using futures prices we …

The Dodd-Frank Act And Its Impact On Community Bank Mortgage Lending, Margaret Schorgl

Honors Theses

I investigate the impacts of additional regulatory burdens on community bank mortgage lending due to the Dodd-Frank Act. The Dodd-Frank Act, which was signed into federal law by President Barack Obama on July 21, 2010, was intended to protect consumers, promote financial stability, and reduce the risk associated with larger banks being too-big-to-fail. However, one criticism of the Act is that the increased regulations and compliance costs under the Act have made it increasingly difficult for smaller banks to survive. As a result, an unintended consequence of the Dodd-Frank Act is that smaller banks may issue fewer loans than they …

The County-Level Impact Of Telemedicine: A Difference-In-Differences Analysis Of The University Of Mississippi Medical Center's Telemedicine Initiatives, Megan Elise Mcleod

Honors Theses

Mississippi has the fewest active physicians per capita of any state, consistently struggles with high rates of acute and chronic illness, and over half of its residents live in rural areas lacking specialty medical care. In an effort to bridge the state's geographical gap in access to healthcare, the University of Mississippi Medical Center (UMMC) has introduced telemedicine. This study conducts an analysis of some of the societal benefits of UMMC's telemedicine initiatives using a difference-in-differences identification strategy. This model attempts to obtain the county-level causal effects of implementing telemedicine by evaluating the resulting changes in length of life, quality …

Strategies For Residential Real Estate Professionals To Mitigate Declining Sales, Raven Cornelius

Walden Dissertations and Doctoral Studies

Real estate sales significantly declined during and after the 2008 mortgage crisis. In the United States, real estate sales dropped 35% after the mortgage crisis. Guided by the attention, interest, desire, and action (AIDA) model, the purpose of this multiple case study was to explore the strategies successful residential real estate organization managers use to mitigate sales decline in a postrecession environment. Three residential real estate organization managers in Southern Maryland and Northern Virginia participated in semistructured interviews. These participants are currently selling homes, worked in the real estate market before the 2008 mortgage crisis, and developed successful strategies to …

Obstacles To Economic Growth And Business Attraction In Georgia, Vanessa Cox

Walden Dissertations and Doctoral Studies

The problem addressed in the study was that Georgia's economic development leadership faced obstacles that challenged the state's growth in attracting new business and developing existing business. The purpose of this case study was to explore the obstacles encountered by a specific agency to attract businesses to generate economic growth. Accessing obstacles that hinder leaders to promote the state of Georgia growth is pertinent, including exploring where the system may be constrained. The theory of constraints guided this study to investigate what obstacles state leaders face in economic development. An embedded case study was conducted using purposeful sampling to select …

A Review Of Economic Studies Relating To The Bureau Of Land Management's Wild Horse And Burro Program, Paul M. Jakus

Human–Wildlife Interactions

This paper reviews literature addressing the benefits and costs of the Bureau of Land Management’s Wild Horse and Burro (WHB) Program. Within the framework of a comprehensive benefit cost analysis of the WHB Program, I find that program cost estimates are readily available from numerous sources. A more limited set of estimates of the opportunity cost of WHB on the range is available, as is a single estimate of the benefits provided by animal adoption. In contrast, there are no economic estimates of ecological damages caused by WHB in excess of the Appropriate Management Level, nor does a search of …

Small Industrial And Commercial User Demand For Electricity In El Paso, Texas, Keighton Ryanne Allen

Open Access Theses & Dissertations

The focus of this study is small commercial and industrial (CIS) electricity consumption and its explanatory factors such as the price of electricity, natural gas, and labor; personal income per capita; the quantity of private capital stock per capita; and weather variables in El Paso, Texas from 1978 - 2017. The estimation techniques used are an Autoregressive-Distributed Lag model (ARDL) and an Error Correction Model (ECM). In the long-run, CIS customers in El Paso respond only to own-price and the quantity of capital stock per capita. In the short-run, CIS customers adjust their electricity usage in response to changes in …

Excess Zeros, Endogenous Binary Indicators, And Self-Selection Bias With Application To First Marriage, Smoking And Drinking Outcomes, Lateef Subair

Electronic Theses and Dissertations

No abstract provided.

Outlaw Heaven: Why States Become Tax Havens, Charles A. Dainoff

Theses and Dissertations--Political Science

It is the argument of this dissertation that states become tax havens as a conscious economic development strategy. These states – more properly referred to as "jurisdictions" because some lack the sovereignty of the traditional Westphalian state – do not have the natural resources or the population to pursue more traditional economic development strategies, but they do have the ability to write or implement laws that create a virtual resource: banking secrecy. These jurisdictions are able to carry out this strategy because they tend to be well-governed, stable, and relatively wealthy, making them attractive partners for the international banking, legal, …

Pollution Halos And Free-Entry, Luis Gautier

Economics Faculty Publications and Presentations

There is an important number of countries where local content requirements and carbon pricing policies are employed to address environmental degradation and develop industry. The literature has somewhat explored the role of emission taxes and local content requirements on the reduction (increase) of emissions (foreign direct investment), but not the effects on total income. I derive conditions under which laxer local content requirements and negligible adjustments in taxation reduce (increase) total emissions (income) as long as (i) free-entry effects are large and (ii) foreign direct investment (FDI) represents a large share of income. However, adjustments in the emission tax do …

Neutrosophic Multi-Criteria Decision Making, Florentin Smarandache, Jun Ye, Yanhui Guo

Branch Mathematics and Statistics Faculty and Staff Publications

The notion of a neutrosophic quadruple BCK/BCI-number is considered in the first article (“Neutrosophic Quadruple BCK/BCI-Algebras”, by Young Bae Jun, Seok-Zun Song, Florentin Smarandache, and Hashem Bordbar), and a neutrosophic quadruple BCK/BCI-algebra, which consists of neutrosophic quadruple BCK/BCI-numbers, is constructed. Several properties are investigated, and a (positive implicative) ideal in a neutrosophic quadruple BCK-algebra and a closed ideal in a neutrosophic quadruple BCI-algebra are studied. Given subsets A and B of a BCK/BCI-algebra, the set NQ(A,B), which consists of neutrosophic quadruple BCK/BCInumbers with a condition, is established. Conditions for the set NQ(A,B) to be a (positive implicative) ideal of a …

Time Dependent Attribute-Level Best Worst Discrete Choice Modelling, Amanda Working, Mohammed Alqawba, Norou Diawara, Ling Li

Mathematics & Statistics Faculty Publications

Discrete choice models (DCMs) are applied in statistical modelling of consumer behavior. Such models are used in many areas including social sciences, health economics, transportation research, and health systems research and they are time dependent. In this manuscript, we review references on the study of such models, develop DCMs with emphasis on time dependent best-worst choice and discrimination between choice attributes. Referenced measurements of the dynamic DCMs are simulated. Expected utilities over time are derived using Markov decision processes. We study attributes and attribute-levels associated with the quality of life of seniors, report the estimation results, and discuss our findings.

Two Applications Of Financial Economics To Real Estate, Jeffrey Dibartolomeo

Electronic Theses and Dissertations

My first essay examines the effects of dividend policy on the liquidity risk of REITs. I argue that the mandatory high cash payouts of REITs reduce investor reliance on the stock market to satisfy their liquidity needs. Using a sample of equity REITs from 1980 through 2015, I find strong empirical evidence consistent with this paradigm. Unlike non-REIT property companies, I find REITs exhibit negative sensitivity to marketwide liquidity shocks; a result that is evident across most property type sectors. Moreover, while my findings are robust across a wide range of portfolios based on size, dividend frequency, leverage, market-to-book, operations …

Municipal Responses To The Shifting Environment Of Shopping Mall Retail, Paul Kleier Iii

MPA/MPP/MPFM Capstone Projects

Economic development is a vital local government responsibility because it guides the provision of jobs for residents, markets for the purchase of goods, and revenue for the government itself. Shopping malls have been key drivers of local economic activity for decades, but their viability going forward has become uncertain since the turn of the century. This paper considers both reasons for this uncertainty and strategies that have been or can be implemented to improve mall sustainability and profitability. While literature addressing this topic focuses almost exclusively on the role played by mall management, this paper places special emphasis on the …

Voices Of Women: The Impact Of Women's Political Reservations On Female Child Mortality In India, Kohsheen Sharma

Scripps Senior Theses

This paper uses state-level variation in the implementation of the 73rd amendment in India to observe the relationship between political reservations for women in local government and female child mortality. Nationally, reservations for women are not associated with a statistically significant difference in female child mortality. However, a state by state analysis shows variations in the level of impact of reservations on the topic of female child mortality. This paper examines the constraints on female representatives and their level of effectiveness in executing pro-female policies given the political and social environment. The two case studies on Kerala and Haryana explore …

Gigs And Grub: How The Gig Economy Impacts Restaurant Industry Performance, Laura Broderick

Scripps Senior Theses

In the last ten years, the gig economy has become a significant part of the labor market. Consumers depend on the services provided by people performing gig work, particularly as on-demand services are increasingly desired. Another trend that has developed is the rise of fast casual restaurants due to their relatively inexpensive and quick service while simultaneously providing unique and interesting cuisine options. I examined if there was a relationship between the rise of these emerging sectors of the economy through looking at the performance of limited service eating place establishments using a panel data regression model at the Metropolitan …

Unveil The Mysterious Reality Of Management Healthcare In China: A Case Study On Institutional Arrangement, Yasha Zhang

Scripps Senior Theses

This thesis identifies and analyzes current problems in the healthcare market in China. Although many health indicators of China such as life expectancy and child mortality rates have improved significantly and suggest that the healthcare reform in China is successful, there have been many more reports of patient's violent attack towards the doctor, the sudden death of doctors, and decreasing doctor supplies that suggest otherwise. I observed that the relationship between doctors and patients are intense, doctors experience enormous working pressure, and many doctors are leaving the market. It makes me wonder how did government fail to improve its healthcare …

Coal-To-Liquid Technology: A Look At The Geopolitical Tension Behind China's Energy Strategy, Kaela Cote-Stemmermann

Scripps Senior Theses

As interest in renewable energy development continues to rise around the globe, the alignment of China’s capabilities and incentive to invest in the green energy sector position the country in a leading role. However, China’s recent investment in coal-to-liquid (CTL) technology raises questions as to the direction of China’s energy policy and reflects broader geopolitical tensions within the Chinese government. Although CTL technology has been widely criticized as being environmentally unfriendly and economically unsustainable, China continues to invest in it at an astounding pace. Research proposes several possible explanations, such as corruption or local conflicts of interest, however, a critical …

Understanding The Process Of Selling, Cheryl A. Burkhart-Kriesel

Cornhusker Economics

Black Friday, Cyber Monday, and then the countdown to Christmas… tis the season for buying! But if you work in the retail environment, it is also the season for selling. The act of “selling” is obvious in face-to-face retail environments but the steps of the selling process are also embedded in all sorts of product and service settings.

Unemployment Insurance Reform: Fixing A Broken System, Stephen A. Wandner Editor

Upjohn Press

The Unemployment Insurance (UI) system is a lasting piece of the Social Security Act which was enacted in 1935. But like most things that are over 80 years old, it occasionally needs maintenance to keep it operating smoothly while keeping up with the changing demands placed upon it. However, the UI system has been ignored by policymakers for decades and, say the authors, it is broken, out of date, and badly in need of repair.

Stephen A. Wandner pulls together a group of UI researchers, each with decades of experience, who describe the weaknesses in the current system and propose …

The Empirical Relationship Of Income And Body Mass Index In El Paso, Tx, Jessica Rubyn Mares

Open Access Theses & Dissertations

To understand the determinants of obesity in El Paso, TX, this study examines the relationship between income and the body mass index for adult men and women using County-level data from the Texas Behavioral Risk Factor Surveillance System (BRFSS). Specifically, two periods are considered, 2002-2010 (BEFORE) and 2011-2015 (AFTER). Key results show that during the BEFORE period women are highly susceptible to unhealthy weight levels at lower incomes. Obesity prevalence is high among men and women as Age rises. During the AFTER period, Age and Race/Ethnicity are related to BMI in men only. Unexpectedly, no associations are found in women.

Credit Union Loan Rate Determinants During The Post-2009 Expansion, Esmeralda Patricia Muniz

Open Access Theses & Dissertations

Credit union deposits have grown substantially in recent years. Given that, an increasing number of consumers and small businesses are joining credit unions as members. This study investigates the determinants of credit union loan rates during a period of economic expansion in the United States using fourth quarter 2015 data for 5,942 credit unions. Five different interest rate categories are analyzed using nine potential loan rate determinants. The results indicate that credit union loan rates tend to be lower when economies of scale exist, while high ratios for net charge-offs and operating costs cause interest rates to increase. Opposite of …

Effects Of Wait Times And Bridge Tolls On Personal Vehicle Border Crossings Into El Paso, Omar Solis

Open Access Theses & Dissertations

Wait times at international ports of entry (POE) increase overall travel costs and negatively affect establishments at the border by raising costs and reducing efficiency. This study employs linear transfer function analysis to model northbound personal vehicle traffic flows across three international bridges that link Ciudad Juarez, Chihuahua, Mexico and El Paso, Texas, USA. The analysis attempts to build upon prior regional studies that examine the effects of tolls, exchange rates, and economic conditions on cross-border traffic volumes. This is done by incorporating a fairly unique data set of wait times into the equation specifications. Empirical results confirm inverse relationships …

An Econometric Analysis Of The 2016-2017 Nba Regular Season, Michael Lynn Jaeger

Open Access Theses & Dissertations

This study examines the on-court performance of the thirty National Basketball Association (NBA) teams during the 2016-17 NBA basketball season. Cross sectional data are employed to analyze the wins for the 2016-17 NBA basketball season. Although the results are inconclusive, there is one notable outcome in the negative variable for human capital payroll. Field goal percentage is favored over other in game statistics. Replication of this study for the 437 teams in National Collegiate Athletics Association provides and intriguing opportunity for further research.

Estimating Risk Preferences In The Field, Levon Barseghyan, Francesca Molinari, Ted O'Donoghue, Joshua C. Teitelbaum

Georgetown Law Faculty Publications and Other Works

We survey the literature on estimating risk preferences using field data. We concentrate our attention on studies in which risk preferences are the focal object and estimating their structure is the core enterprise. We review a number of models of risk preferences—including both expected utility (EU) theory and non-EU models—that have been estimated using field data, and we highlight issues related to identification and estimation of such models using field data. We then survey the literature, giving separate treatment to research that uses individual-level data (e.g., property insurance data) and research that uses aggregate data (e.g., betting market data). We …

Sequentially Testing Polynomial Model Hypotheses Using Power Transforms Of Regressors, Jin Seo Cho, Peter C. B. Phillips

Research Collection School Of Economics

We provide a methodology for testing a polynomial model hypothesis by generalizing the approach and results of Baek, Cho, and Phillips (Journal of Econometrics, 2015, 187, 376–384; BCP), which test for neglected nonlinearity using power transforms of regressors against arbitrary nonlinearity. We use the BCP quasi-likelihood ratio test and deal with the new multifold identification problem that arises under the null of the polynomial model. The approach leads to convenient asymptotic theory for inference, has omnibus power against general nonlinear alternatives, and allows estimation of an unknown polynomial degree in a model by way of sequential testing, a technique that …

Intergenerational Transmission Of Educational Attainment: A Look At Racial Differences, James Imhoff

Williams Honors College, Honors Research Projects

As a people, an overwhelming majority of Americans believe that hard work alone can push even the most disadvantaged of us beyond our upbringing. The link between parental and child labor outcomes in the form of educational attainment, income, or social class is known as intergenerational correlation. Due to vast differences in black and white American educational attainment, this paper conducted a study to measure just exactly how parental education will impact a child’s future. As literature and theory suggest, parental education, family income, race, gender, and several other factors all have a tangible benefit on determining how much schooling …

Hes Chicago, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes,

• Shaikh, A., PhD. (2018, June 15–17). HES Chicago conference schedule and logistics [Handwritten notes on folder cover]. Unpublished manuscript notes.

• Persky, J. (2017, December 12). History of Economics Society meetings (call for papers) [Email with handwritten notes titled Plenary: Constructing a classical Keynesian paradigm]. Unpublished correspondence.

• History of Economics Society. (2018). Welcome to the 2018 annual meeting of the History of Economics Society [Website printout]. History of Economics Society.

• Whitehall Hotel. (2018, May 12). Reservation confirmation [Email]. Whitehall Hotel.

On Monetary And Non-Monetary Interventions To Combat Corruption, Ritwik Banerjee, Arnab Mitra

Economics Faculty Publications and Presentations

We study the relative effectiveness of extrinsic monetary disincentives and intrinsic non-monetary disincentives to corruption, using a harassment bribery game. In doing so, we also test the Beckerian prediction that at the same level of expected payoff, a low probability of detection with high fine is a stronger deterrent to corruption than a high probability of detection with low fine. In Experiment 1, two treatments are designed to study the effect of a low probability of detection with high fine and a high probability of detection with low fine, on bribe taking behavior. In Experiment 2, subjects participate in the …

Monitoring The Philippine Economy Year-End Report For 2017, Mitzie Irene P. Conchada, Won Hee Cho

Angelo King Institute for Economic and Business Studies (AKI)

Growing at 6.7% in 2017, the Philippine economy realized robust full-year forecasts despite domestic and international economic challenges. Economic performance: Aggressive government spending on infrastructure projects, the growth of the manufacturing sector, and an uptick in the agriculture sector strengthen the Philippine economy.