Impact Of Ethanol Plant Location On Corn Revenues For U.S. Farmers, Ani L. Katchova, Ana Claudia Sant'anna

Faculty & Staff Scholarship

settings Open AccessArticle

Impact of Ethanol Plant Location on Corn Revenues for U.S. Farmers

by Ani L. Katchova 1,* andAna Claudia Sant’Anna 2 1 Department of Agricultural, Environmental, and Development Economics, The Ohio State University, Columbus, OH 43210, USA 2 Division of Resource Economics and Management, West Virginia University, Morgantown, WV 26506, USA * Author to whom correspondence should be addressed. Sustainability 2019, 11(22), 6512; https://doi.org/10.3390/su11226512 Received: 22 October 2019 / Revised: 11 November 2019 / Accepted: 15 November 2019 / Published: 19 November 2019 (This article belongs to the Special Issue Green, Closed Loop, Circular Bio-Economy) …

Willingness To Pay For Wind Versus Natural Gas Generation Of Electricity, Kofi Nkansah, Alan R. Collins

Faculty & Staff Scholarship

In 2009, West Virginia enacted an Alternative and Renewable Portfolio Act (APRA) to broaden its energy use for electricity beyond coal. A choice experiment survey was conducted to assess West Virginians’ willingness to pay (WTP) for 10 percent of electricity generated from wind energy versus natural gas. Results showed that residential consumers preferred electricity generated from wind, with annual per-capita WTP averaging from $19.25 to $26.75. Given the subsequent repeal of the APRA in 2015, we propose implementation of a voluntary green pricing program as an alternative policy to increase the share of renewable energy in West Virginia's energy portfolio.

Estimation Of Multivariate Asset Models With Jumps, Angela Loregian, Laura Ballotta, Gianluca Gianluca Fusai, Marcos Fabricio Perez

Business Faculty Publications

We propose a consistent and computationally efficient two-step methodology for the estimation of multidimensional non-Gaussian asset models built using Levy processes. The proposed framework allows for dependence between assets and different tail behaviors and jump structures for each asset. Our procedure can be applied to portfolios with a large number of assets as it is immune to estimation dimensionality problems. Simulations show good finite sample properties and significant efficiency gains. This method is especially relevant for risk management purposes such as, for example, the computation of portfolio Value at Risk and intra-horizon Value at Risk, as we show in detail …

Employment Disparity Grows For Rural Americans With Disability, Rtc: Rural, University Of Montana Rural Institute

Employment

Employment rates have increased since the recession, but these gains haven’t reached all communities across the country, nor has everyone benefited from these gains. While overall employment rates have improved, employment for people with disabilities in rural areas has decreased. This fact sheet uses the recently released (December 2018) American Community Survey 5-year estimates to explore changes in employment rates for people with and without disabilities across the nine divisions of the United States, and for metropolitan, micropolitan, and non-core counties. This marks the first time longitudinal trends in ACS data can be explored across the rural-urban continuum using comparable …

Leveraging Environmental Reserve Assets To Achieve A Sustainable Environment, Tamim Ephrem Akiki

Theses - Graduate Programs in Economic Theory and Policy

This paper proposes a financing mechanism that seeks to realize massive projected returns associated with holding global warming at below 1.5°C above pre-industrial levels. The IMF and national authorities of every participating country design 20-year Structural Environmental Adjustment Plans (SEAPs) that include preservation targets, emissions reductions, and investment budgets. Those budgets can either be self-financed or, where need is demonstrated, funded by the IMF using zero-interest loans that fully amortize through environmental outcomes. Maximum funding capacity is measured using Special Environmental Drawing Rights (SEDRs), an indefinite potential claim on the IMF’s freely usable currencies for climate finance regardless of future …

A Keynesian Exploration Of The Determinants Of Government Bond Yields For Brazil, Colombia, And Mexico, Simon Simoski

Theses - Graduate Programs in Economic Theory and Policy

This dissertation investigates the long-term determinants of the government bond nominal yields of Brazil, Colombia, and Mexico. It deploys vector error correction (VEC) model to assess whether John Maynard Keynes’s view that the central bank’s actions, mainly through short-term interest rates and various monetary policy measures, are the key drivers of long-term government bond yields over the long-run, after controlling for key economic variables such as the inflation rate, GDP growth rate, and government debt- and deficit-to-GDP ratios. The results from the models estimated indicate that short-term interest rates are the main drivers of longterm government bond yields for all …

Corruption And South American Public Health Governance: A Panel Data Analysis, Richard Mydland

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates high income South American countries and their Corruption Perception Index ranking compared to their public health economic variables alongside other macroeconomic variables. The study takes into account that each country is different by means of economic nature due to geographic location. Countries with a natural resource curse are different from traditionalist economic countries. The model examines the implications of a corruption ranking along with health and macroeconomic data that is strongly correlated with decreasing or increasing returns to scale.

Review: The Economy 1.0 (Core Econ), Junpyo Park

Open Textbooks & Reviews

Review of the textbook The Economy 1.0 from CORE Econ.

Rhode Island Current Conditions Index -- January 2019, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

The Name Game: The Importance Of Resourcefulness, Ruses, And Recall In Stock Ticker Symbols, Gary N. Smith, Naomi Baer, Erica Barry

Pomona Economics

Previous research reported that a portfolio of stocks with clever ticker symbols outperformed the overall market by a significant margin during the years 1984 to 2005. This paper reports the performance of those stocks during the subsequent years 2006 to 2018, and also investigates the 2006-2008 performance of a new set of clever-ticker stocks. Both clever-ticker portfolios beat the market by a substantial margin, supporting the resiliency of the clever-ticker phenomenon.

New Jersey Urban Enterprise Zone Program Assessment 2019, Thomas Edison State University, Pel Analytics, Anderson Economic Group, The John S. Watson Institute For Public Policy

Urban Mayors Policy Center

In 2019, the State of New Jersey sought an evaluation of its Urban Enterprise Zone (UEZ) Program to determine the program’s economic impact and make recommendations for the program’s future. The John S. Watson Institute of Public Policy of Thomas Edison State University joined with PEL Analytics and Anderson Economic Group to produce the following study. The main recommendation of this analysis is to retain the UEZ Program while instituting various changes to make it stronger. Recommended changes in brief include reinstating some form of Zone Assistance Funds (ZAFs), creating a better system to collect data and track outcomes, assisting …

Growth And Sectoral Development: A Stock-Flow-Consistent Model Of The Effects Of Trade Liberalization In Ghana, Harrison J. Karlewicz

Theses - Graduate Programs in Economic Theory and Policy

The dawn of neoliberalism brought with it a litany of trade policies for developing nations, including recommendations to liberalize trade barriers, remove capital controls, and develop in relative comparative advantages in the global economy. These policies were buttressed with Computable General Equilibrium models that showed positive welfare gains for liberalizing nations. This paper reviews the historical record around trade policy, theories of trade, as well as the methodological approaches used to examine the effects of trade liberalization in the neoliberal era. It posits an alternative using Stock-Flow-Consistent modeling methods, looking particularly at the case of Ghana and its own tariff …

Aspects Of Institutional Finance In Sustainable Development, Jordan Fanelli

Theses - Graduate Programs in Economic Theory and Policy

Since the establishment of the Post–2015 Development Agenda and the 2030 Sustainable Development Goals (SDGs), the international community has considerably maintained that private sector leadership will be a crucial factor in supporting sustainable development, especially in emerging and developing economies. Since 2008 many traditional commercial banks who are crucial financial actors have retreated from the capital markets due to increased regulations and mandatory capital ratios. Additionally, government expenditure has also decreased due to budget constraints in the post-crisis years. This retraction of traditional sources of finance, combined with a significant increase in the demand for capital has created multiple financing …

Financial Innovation And The Implications For Monetary Policy And Portfolio Hedging, John Flynn

Theses - Graduate Programs in Economic Theory and Policy

The focus of this thesis will be on three main components, namely, monetary transmission mechanisms, financial innovation and portfolio hedging. It will first discuss the different channels of monetary policy and how they affect economic and financial variables. Then, financial innovation will be analyzed from the perspective of Hyman P. Minsky and the effects on the financial system. Next, the relation of regulation to the changing financial landscape of the economy will be discussed. Finally, the use of financial derivatives will be reviewed, presenting their hedging function and speculative risks. Then, the impact of too big to fail banks and …

The Glass-Cliff And Usa Politics: Are Women Set Up For Failure?, Amber Marin

Empirical Economic Bulletin, An Undergraduate Journal

This study investigates the hypothesis that the glass cliff exists in Senate races for the United States in 1998, 2004, 2010, and 2016. It compares the effects to anecdotal situations focusing on Brexit. The results of the study find validity in glass cliff hypothesis.

Does Growth Have A Price Tag? Foreign Aid’S Effect On Economic Growth In Africa, Andrew Berghahn

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the linkage between Official Development Assistance (ODA) received by African countries and the growth of GDP per capita within those nations. This study uses fixed and random effects to explore to ascertain the effects of increasing the amount of ODA received in relation to the country’s GDP. The results from this analysis show that there is a clear negative impact on country’s GDP per capita as ODA increases in relation to total GDP.

One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher

Economics Faculty Scholarship

This study investigates a potential mechanism to promote coordination. With theoretical guidance using a belief-based learning model, we conduct a multi-period, binary-choice, and weakest-link laboratory coordination experiment to study the effect of gradualism – increasing the required levels (stakes) of contributions slowly over time rather than requiring a high level of contribution immediately – on group coordination performance. We randomly assign subjects to three treatments: starting and continuing at a high stake, starting at a low stake but jumping to a high stake after a few periods, and starting at a low stake while gradually increasing the stakes over time …

Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman

Justice & Well-Being Studies Faculty Scholarship

This paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we used a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding …

A Study Of The Effects Of Certificate Of Need Law On Inpatient Occupancy Rates, Jomon Aliyas Paul, Huan Ni, Aniruddha Bagchi

Faculty Articles

Increasing healthcare costs and the deterioration of healthcare quality have always been major concerns to policy makers in the United States, and Certificate of Need (CON) Law has been implemented as one way to curb wasteful healthcare resource use. Theoretically, CON can lead to a reduction in the number of beds as well as in the number of inpatient days (possibly by shortening the length of patient stay). However, these two effects impact inpatient occupancy rate in opposite directions. We test empirically to find out which of these two effects dominate. In this study, we investigate the impact of CON …

The Republic Of Macedonia: Factors Of Economic Growth, Kevin J. Morris

The Corinthian

This article provides an analysis of the obstacles to economic growth faced by the Republic of Macedonia and provides policy recommendations to address these issues.

Step Away From Stepwise, Gary N. Smith

Pomona Economics

Stepwise regression is a popular data-mining tool that uses statistical significance to select the explanatory variables to be used in a multiple-regression model. A fundamental problem with stepwise regression is that some real explanatory variables that have causal effects on the dependent variable may happen to not be statistically significant, while nuisance variables may be coincidentally significant. As a result, the model may fit the data well in-sample, but do poorly out-of-sample. Many Big-Data researchers believe that, the larger the number of possible explanatory variables, the more useful is stepwise regression for selecting explanatory variables. The reality is that stepwise …

Use Of Symmetries In Economics: An Overview, Vladik Kreinovich, Olga Kosheleva, Nguyen N. Thach, Nguyen Duc Trung

Departmental Technical Reports (CS)

In this paper, we show that many semi-heuristic econometric formulas can be derived from the natural symmetry requirements. The list of such formulas includes many famous formulas provided by Nobel-prize winners, such as Hurwicz optimism-pessimism criterion for decision making under uncertainty, McFadden's formula for probabilistic decision making, Nash's formula for bargaining solution -- as well as Cobb-Douglas formula for production, gravity model for trade, etc.

Missouri: Generation Transformation, Mark Tranel

Center for Applied Economics

While Missouri’s population has grown slowly over the past 50 years its characteristics have evolved in important ways. This paper first describes the contemporary demographic profile of who Missourian are, where and how they live. It then examines the trends over the period 1960 to 2010. The data for Missouri are compared to national characteristics and trends to provide points of similarity and contrast. The factors that have changed, and some that have not, have implications for actions that need to be taken in response to challenges Missouri faces because of these demographic dynamics.

Contrasting Chicago School And Kaleckian Theories: Industrial Organization, Income Distribution, And Historical Policy Significance In The United States, Henry Aaron Dobbs

Electronic Theses and Dissertations

The purpose of this paper is to identify the role that long-run industry concentration plays in determining the distribution of income, particularly in the past four decades in the United States, as well as examining how industry concentration has developed during that period. The paper is especially focused on the fall in labor’s share of income. First, I examine current literature regarding trends in industry concentration and its relation to the distribution of income. Next, I examine the historical impact of the Chicago School of Economics on this subject, focusing on the school of thought’s propositions regarding industry concentration, their …

The Effects Of Fundamentals, Speculation, Government Policies, And International Capital Flows On China's Stock Market, Yanshen Qi

Electronic Theses and Dissertations

This paper, based on the relationship between the economy, policy and the financial market seeks to explore the leading force in China's stock market and identify how the government policies affect the stock market, through an analysis of the performance of the Shanghai Stock Exchange Index over the past 10 years. Comparing the stocks' intrinsic value to their market price can present an aerial view of China's stock market. When the market prices deviated from fundamentals, we can find what government did to respond to the market and lead market opinions.

Through our estimation, comparing the sample fundamental prices with …

The Size Of The Multiplier: Comparing Alternate Views After The Great Recession, Daniel Focht

Electronic Theses and Dissertations

This thesis reviews the major theoretical frameworks and their outlook on the government spending, its effectiveness, the implied size of the multiplier and how they differed in empirical studies. This is followed by an estimation of the government multiplier for the major U.S. fiscal policy, namely the American Recovery and Reinvestment Act (ARRA), after the Great Recession of 2007-2009. Own estimation of the size of the multiplier is presented using a standard SVAR model based on New Keynesian approach for time period between 2009 and 2018. In addition, following the classical economic theory, the multiplier is recalculated in the absence …

Financial Crisis And Bank Lending Behavior In Nigeria, Michael A. Oyakojo

Electronic Theses and Dissertations

Bank lending is an important monetary policy transmission channel with significant impact on economic growth in Nigeria. The research was conducted to test the hypothesis that given the Central Bank of Nigeria (CBN) / government financial intervention, there is a significant increase in the lending behavior of Nigerian bank during and post 2008 financial crisis. Total loan ratio is the proxy for bank lending behavior while the dependent variables are bank specific characteristics like total assets, core deposit ratio and macroeconomic variables like the 91-day Treasury bill rate and inflation rate.

Using the fixed effects regression technique, it was observed …

How Informational Imperfections Lead To Sub-Optimal Solutions In Health Savings Plan And Potential Remedies In A Competitive Marketplace, Jacob Gene Dengg

Electronic Theses and Dissertations

In the growing trend of consumer-driven health insurance, more consumers than ever have access to a high-deductible health plan paired with a health savings account, where consumers can save pre-tax income for healthcare but also face higher out-of-pocket prices, in hopes that consumers will become smarter shoppers. The Health Savings Plan is successful at lowering costs, but at the expense of consumers lowering their adherence to healthcare, raising health risk. Even in a competitive market, HSP plan designs require smart shoppers and more active healthcare self-management, but without dealing with the informational imperfections that need to be overcome to encourage …

The Role Of The State In International Trade Theory And Policy: Historical Evidence From South Korea And Brazil, Sumaiya Nehla Saif

Electronic Theses and Dissertations

Since the early 1980s, the economic performance of individual countries has been increasingly dependent on global dynamics. Neoliberal policies, including free trade, have been fostered by the global community for both mature and developing economies, led by the view that free markets constitute the driving force of economic growth and development. Accordingly, the World Trade Organization (WTO), the International Monetary Fund (IMF) and the World Bank (WB) - in addition to the developments within mainstream economic theory - have contributed to portray the state as the carrier of inefficiencies and market distortions, which prevent the unfolding of economic freedom and …

Investment In Human Capital And Labor Mobility: Evidence From A Shock To Property Rights, Christopher P. Clifford, William C. Gerken

Institute for the Study of Free Enterprise Working Papers

We show that the assignment of property rights to client relationships affects employee behavior in the industry for financial advice. Our identification comes from staggered firm-level entry into the Protocol for Broker Recruiting. The protocol effectively transfers the ownership of the client relationship from the firm to the employee. We document that entering into the protocol increases employee labor mobility among member firms. Further, we find that upon protocol inclusion, employees are less likely to generate customer complaints and more likely to invest in their own general human capital, but less likely to invest in firm-specific human capital. We use …