Economics Commons^™

Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson

Economics Department Working Papers

The Olympic Games are a major undertaking that promise both large costs and potentially large benefits to host cities. This paper lays out the potential economic benefits of hosting the Olympics and details how, in the vast majority of cases, these gains are unlikely to cover the costs of hosting the event. The ideas are then applied to the experience of Boston in its ultimately unsuccessful bid for the 2024 Summer Olympics.

Notes On The Economics Of Residential Hybrid Energy System, Mahelet G. Fikru, Gregory M. Gelles, Ana M. Ichim, Joseph D. Smith

Economics Faculty Research & Creative Works

Despite advances in small-scale hybrid renewable energy technologies, there are limited economic frameworks that model the different decisions made by a residential hybrid system owner. We present a comprehensive review of studies that examine the techno-economic feasibility of small-scale hybrid energy systems, and we find that the most common approach is to compare the annualized life-time costs to the expected energy output and choose the system with the lowest cost per output. While practical, this type of benefit—cost analysis misses out on other production and consumption decisions that are simultaneously made when adopting a hybrid energy system. In this paper, …

Medical Innovation And The Employment Of Cancer Patients, R. Vincent Pohl

Employment Research Newsletter

No abstract provided.

The Effect Of New Market-Rate Housing Construction On The Low-Income Housing Market, Evan Mast

Employment Research Newsletter

No abstract provided.

Socioeconomic Class And Race In Higher Education Paths And Outcomes: The Case Of Ohio, James Harlow

Student Papers in Local and Global Regional Economies

The paper reviews literature that examines how race, class and incomes influence students entering college, focusing on the entire U.S. and on Ohio. The paper investigates he following. 1) Does racial demography and household income predict the type of public college or university Ohio seniors choose to attend? 2) Is there a relationship between household income and public college (both two and four-year schools) enrollment immediately after high school? The paper discusses how the provided analysis fit within the broader literature, and help in understanding the problem and in formulating solutions. The goal of this research is to examine some …

The Allocation And Exchange Of Property Rights As A Way To Understand Comparative Economics Systems And Managerial Economics, John Garen

Institute for the Study of Free Enterprise Working Papers

This paper discusses how economic systems can be described by the manner that property rights are allocated to individuals, to the government, or to interests groups. Property rights entail control of use of assets, claim on the net income from an asset, and transferability of the previous two. Economics systems (e.g., capitalism, socialism, cronyism) are characterized by who holds these rights, in whole or in part, and this determines the success or failure of an economy. A related analysis is applied to understanding business organization, e.g., the corporate and non-corporate form, franchising, and employee compensation methods. Each entails a (voluntary) …

Medicaid Coverage Across The Income Distribution Under The Affordable Care Act, Charles J. Courtemanche, James Marton, Aaron Yelowitz

Institute for the Study of Free Enterprise Working Papers

This chapter examines trends in Medicaid enrollment across the income distribution after the ACA’s Medicaid expansion.Using data from the American Community Survey between 2012and 2017, we compare Medicaid coverage over time in 9 states that expanded Medicaid in 2014 with no previous expansion for able-bodied, working-age adults with 12 states that had not expanded Medicaid by 2019 and also had no previous expansion for such adults. A difference-in-differences model is used to formalize this comparison. Similar to many previous studies, we find that Medicaid coverage increased dramatically for income-eligible adults under 138% of the federal poverty level (FPL). In addition, …

Inference In Moment Inequality Models That Is Robust To Spurious Precision Under Model Misspecification, Donald W.K. Andrews, Soonwoo Kwon

Cowles Foundation Discussion Papers

Standard tests and confidence sets in the moment inequality literature are not robust to model misspecification in the sense that they exhibit spurious precision when the identified set is empty. This paper introduces tests and confidence sets that provide correct asymptotic inference for a pseudo-true parameter in such scenarios, and hence, do not suffer from spurious precision.

Inference In Moment Inequality Models That Is Robust To Spurious Precision Under Model Misspecification, Donald W.K. Andrews, Soonwoo Kwon

Cowles Foundation Discussion Papers

Standard tests and confidence sets in the moment inequality literature are not robust to model misspecification in the sense that they exhibit spurious precision when the identified set is empty. This paper introduces tests and confidence sets that provide correct asymptotic inference for a pseudo-true parameter in such scenarios, and hence, do not suffer from spurious precision.

Does Eviction Cause Poverty? Quasi-Experimental Evidence From Cook County, Il, John Eric Humphries, Nicholas Mader, Daniel Tannenbaum, Winnie Van Dijk

Cowles Foundation Discussion Papers

Each year, more than two million U.S. households have an eviction case filed against them. Many cities have recently implemented policies aimed at reducing the number of evictions, motivated by research showing strong associations between being evicted and subsequent adverse economic outcomes. Yet it is difficult to determine to what extent those associations represent causal relationships, because eviction itself is likely to be a consequence of adverse life events. This paper addresses that challenge and offers new causal evidence on how eviction affects financial distress, residential mobility, and neighborhood quality. We collect the near-universe of Cook County court records over …

Governance In A Globalised World, Richard Woodward

Books/Book Chapters

Discussions surrounding the sources of power and authority that govern the social world have taken place since ancient times. Finally, in the latter half of the twentieth century, it appeared that this debate had been decisively resolved in favour of the view that governance was the preserve of governments. This was a consequence of the ascendance in the social sciences of methodologies that presupposed human activities to correspond to the territorial boundaries of sovereign states. The privileging of sovereign territoriality did not reflect a poverty of scholarly thinking but was a by-product of their social world. (Taylor, 1996). By the …

Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson, Andrew Zimbalist

Economics: Faculty Publications

The Olympic Games are a major undertaking that promise both large costs and potentially large benefits to host cities. This paper lays out the potential economic benefits of hosting the Olympics and details how, in the vast majority of cases, these gains are unlikely to cover the costs of hosting the event. The ideas are then applied to the experience of Boston in its ultimately unsuccessful bid for the 2024 Summer Olympics.

How New York State Stole $20 Billion From School Children In New York City, Part 2, John Yinger

Center for Policy Research

It’s Elementary is a series of essays on topics in education and education policy. The main focus is on education finance in New York State, but general research findings in education and education policy issues in several other states are also discussed. John Yinger, Professor of Economics and Public Administration at the Maxwell School, Syracuse University is the author of most of these essays, although a few are written by or co-authored with other scholars.

How Equitable Is The Education Finance System In New York State?, John Yinger

Center for Policy Research

This policy brief provides an overview and evaluation of the education finance system in New York State. The brief addresses four broad topics: student performance disparities in New York State, the nature of the New York State education finance system, the contributions of the New York foundation aid formula to educational equity, and the benefits to all taxpayers in New York State from education finance reform.

Learning Styles And Class Performance In Hybrid Finance Classes, Pablo Calafiore

Finance Faculty Publications (Archived)

We analyze the effect of student preferred learning style on course performance in an introductory finance class using the VARK learning styles survey developed by Fleming and Mills (1992) and validated by Leite (2010). Learning styles refer to the preferred way used by learners to understand, process, and retain information. The VARK framework classifies learners as Visual, Auditory, Reading, Kinesthetic, or Multimodal (combination of the previous) learning styles preferences. Using a sample of 79 non-traditional undergraduate students enrolled in business finance classes at a public urban university in the U.S. Southwest, we find that student preferred learning style has no …

Mexico Consensus Economic Forecast, Volume 22, Number3, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate

Border Region Modeling Project

No abstract provided.

At The Hands Of Fate: The Political Economy Of Islamic Insurance In Indonesia, Malaysia, And Pakistan, C. 1980 To The Present, Muhammad S. Rahman

Graduate Program in International Studies Theses & Dissertations

Why have Islamic insurance systems developed well in some countries, but not in others? Malaysia is considered as Islamic insurance elite due to its relatively large number of operators it houses as well as the sustained growth of Islamic insurance sales within the country, while Indonesia and Pakistan are still in early stages of development. Analyzing the political and social history of Islamization of insurance systems in these three Muslim majority countries in Asia since 1980s, this dissertation demonstrates the development gap between these countries on Islamic insurance results from; firstly, complex bargains made between various groups within each country …

Diaspora’S Role In Nepal’S Development: Summary Of The Forum Held At The Nepali National Convention. Baltimore, Md, Usa. July 5-7, 2019, Ambika P. Adhikari, Diwakar Dahal, Rajendra Khatiwada

Himalayan Research Papers Archive

Four major Nepalese community organizations, ANA, ANMA, BANA, and INLS jointly hosted the “Nepali National Convention 2019” in Baltimore, Maryland, USA during July 5 to 7, 2019. Eight other community-based organizations including Blood Donors of America, Society of American Nepalese Nurses, Nepalese Association of Florida, Nepal Pasa Pucha Amerikaye, America Nepal Women’s Association of Greater Washington, Nepal Education and Culture Center, America Nepal Society, and Association of Nepali Teraian in America were involved as co-hosts of the convention. Several other local organizations participated in support of the convention.

The Forum “Diaspora’s Role in Nepal’s Development” was held from 1:30-3:00 pm …

Misspecified Moment Inequality Models: Inference And Diagnostics, Donald W.K. Andrews, Soonwoo Kwon

Cowles Foundation Discussion Papers

This paper is concerned with possible model misspecification in moment inequality models. Two issues are addressed. First, standard tests and confidence sets for the true parameter in the moment inequality literature are not robust to model misspecification in the sense that they exhibit spurious precision when the identified set is empty. This paper introduces tests and confidence sets that provide correct asymptotic inference for a pseudo-true parameter in such scenarios, and hence, do not suffer from spurious precision. Second, specification tests have relatively low power against a range of misspecified models. Thus, failure to reject the null of correct specification …

Migration And Informal Insurance, Costas Meghir, Ahmed Mushfiq Mobarak, Corina Mommaerts, Melanie Morten

Cowles Foundation Discussion Papers

Do new migration opportunities for rural households change the nature and extent of informal risk sharing? We experimentally document that randomly offering poor rural households subsidies to migrate leads to a 40% improvement in risk sharing in their villages. We explain this finding using a model of endogenous migration and risk sharing. When migration is risky, the network can facilitate migration by insuring that risk, which in turn crowds-in risk sharing when new migration opportunities arise. We estimate the model and find that welfare gains from migration subsidies are 42% larger, compared with the welfare gains without spillovers, once we …

Borderplex Business Barometer, Volume 3, Number 7, Thomas M. Fullerton Jr., Steven L. Fullerton, Ana Gutierrez Zubiate, Ignacio Santana

Border Region Modeling Project

No abstract provided.

Making A Middle Class: Colleges And Cities In The Mountain West, Richard Reeves

Brookings Mountain West Publications

A stronger middle class is important for the economic and political future of both cities and nations. Analyses focusing on the size of the middle class can be misleading, providing information on income inequality or temporary economic conditions. More important than the size of the middle class is the quality of life of the middle class. Higher education can serve students from middle-class backgrounds, helping them sustain a middle-class standard of living and rise up the economic ladder, as well as providing “on ramps” to the middle class for those from low-income backgrounds. We show that middle class wage earners …

Exact Replication Of The Best Rebalancing Rule In Hindsight, Alex Garivaltis

Faculty Articles, Papers, and Other Scholarship

This paper prices and replicates the financial derivative whose payoff at T is the wealth that would have accrued to a $1 deposit into the best continuously-rebalanced portfolio (or fixed-fraction betting scheme) determined in hindsight. For the single-stock Black-Scholes market, Ordentlich and Cover (1998) only priced this derivative at time-0, giving C0=1+s*sqrt[T/(2*p)]. Of course, the general time-t price is not equal to 1+s*sqrt[T/(2p)]. I complete the Ordentlich-Cover (1998) analysis by deriving the price at any time t. By contrast, I also study the more natural case of the best levered rebalancing rule in hindsight. This yields C(S,t)=sqrt(T/t)*exp[r*t+s^2*b(S,t)^2*t/2], where b(S,t) is …

The Effect Of New Market-Rate Housing Construction On The Low-Income Housing Market, Evan Mast

Upjohn Institute Working Papers

Increasing supply is frequently proposed as a solution to rising housing costs. However, there is little evidence on how new market-rate construction—which is typically expensive—affects the market for lower quality housing in the short run. I begin by using address history data to identify 52,000 residents of new multifamily buildings in large cities, their previous address, the current residents of those addresses, and so on. This sequence quickly adds lower-income neighborhoods, suggesting that strong migratory connections link the low-income market to new construction. Next, I combine the address histories with a simulation model to estimate that building 100 new market-rate …

Aktivitas Ekspor Dan Inefisiensi Teknis Industri Andalan Ekspor Indonesia, Rika Bettynurindah Rustiawati, Andi Fahmi Lubis

Jurnal Ekonomi dan Pembangunan Indonesia

This study examines the effect of export activity on the technical inefficiency by using firm level panel data taken from Annual Survey of Manufacturing conducted by BPS for the period 2010 to 2014 and focus on Indonesia’s mainstay export industry which classified into low technology and high technology sector. A stochastic frontier model with one stage approach is applied to the translog production function to estimate firm level technical efficiency. The findings support the theoretical implications of the positive impact of export activities on firm’s efficiency and low technology sectors have higher efficiency rate than high technology sectors.

Analisis Pengembangan Ekspor Pala, Lawang, Dan Kapulaga Indonesia, Ely Nurhayati, Sri Hartoyo, Sri Mulatsih

Jurnal Ekonomi dan Pembangunan Indonesia

Export is an important component in the economy. The higher export performance, the greater positive impact. From 2012 to 2016, Indonesia’s exports continued to decline, so Indonesia needs to boost its exports. One of the potential commodities to be developed is nutmeg, mace, and cardamoms. This study analyzed the competitiveness of nutmeg, mace, and cardamoms, as well as the factors affecting its exports. The methods used are RCA, EPD, X-Model, and Gravity. The competitiveness analysis showed that the optimistic export markets were Pakistan, Germany, Italy, and USA. The potential export markets were Malaysia, Vietnam, Thailand, France, and Netherlands. Factors that …

Education And Marriage Decisions Of Japanese Women And The Role Of The Equal Employment Opportunity Act, Linda N. Edwards, Takuya Hasebe, Tadashi Sakai

Publications and Research

The Japanese Equal Employment Opportunity Act (EEOA) of 1985 aimed to reduce gender discrimination in the labor market, especially for career-oriented jobs. This paper investigates whether this act had an unanticipated effect on women's marriage decisions. Using micro data from the Japanese Panel Survey of Consumers, we model women's interrelated decisions on university education and whether to marry, focusing on whether women have married by age 32. Our results show a negative relationship between university education and marriage that is much greater for post-EEOA cohorts of women than for pre-EEOA cohorts, consistent with our hypothesis that the enhanced career opportunities …

Deprivasi Utama Kemiskinan Multidimensi Antarprovinsi Di Indonesia, Bagus Sumargo, Naomi Miduk M. Simanjuntak

Jurnal Ekonomi dan Pembangunan Indonesia

So far poverty alleviation policies are still oriented to the monetary approach, while poverty is multidimensional, this means that multidimensional poverty is defined as the condition of the lack of all existing poverty indicators. This study finds the main deprivation of poverty indicators in each province in Indonesia, so that poverty alleviation programs can be directed and more in line with the main deprivation needs of poverty in an area. Using the data of the National Socio-Economic Survey (Susenas 2014) and Alkire-Foster’s multidimensional poverty measurement method, and with 12 indicators in three dimensions (health, education, and living standards), found that …

Transmisi Kemiskinan Antargenerasi Di Indonesia Tahun 1993–2014, Studi Data Ifls, Memy Irwan, Jossy P. Moeis

Jurnal Ekonomi dan Pembangunan Indonesia

The initial hypothesis states that children from poor household have a tendency to return to poverty as an adult. This is because children from poor household are more difficult to utilize available resources than children from non-poor household. By using McNemar test, the data proved that there was a transmission of poverty in Indonesia during 1993–2014. In other words, poverty alleviation program in Indonesia had not been successfully carried out. Multinomial logit was used to analyzed factors that influence the transmission of poverty. There are various factors that affect the intergenerational transmission of poverty in Indonesia, namely the level of …

An Experiment On Innovation And Collusion, Andrew Smyth

Economics Faculty Research and Publications

This paper examines the relationship between product innovation and the success of price collusion using novel laboratory experiments. Average market prices in low innovation (LO) experiments are significantly higher than those in high innovation, but otherwise identical experiments. This price difference is attributed to LO experimental subjects' greater common market experience. The data illustrate how collusion can be perceived as the "only way to make it" in LO markets where product innovation is not a viable strategy for increasing profits. They suggest that product homogeneity can be a proximate cause, and product innovation an ultimate cause, of collusion.