Economics Commons^™

Bootstrap Inference For Quantile Treatment Effects In Randomized Experiments With Matched Pairs, Liang Jiang, Xiaobin Liu, Peter C. B. Phillips, Yichong Zhang

Cowles Foundation Discussion Papers

This paper examines methods of inference concerning quantile treatment effects (QTEs) in randomized experiments with matched-pairs designs (MPDs). We derive the limit distribution of the QTE estimator under MPDs, highlighting the difficulties that arise in analytical inference due to parameter tuning. We show that the naïve weighted bootstrap fails to approximate the limit distribution of the QTE estimator under MPDs because it ignores the dependence structure within the matched pairs.To address this difficulty we propose two bootstrap methods that can consistently approximate the limit distribution: the gradient bootstrap and the weighted bootstrap of the inverse propensity score weighted (IPW) estimator. …

When Bias Contributes To Variance: True Limit Theory In Functional Coefficient Cointegrating Regression, Peter C. B. Phillips, Ying Wang

Cowles Foundation Discussion Papers

Limit distribution theory in the econometric literature for functional coefficient cointegrating (FCC) regression is shown to be incorrect in important ways, influencing rates of convergence, distributional properties, and practical work. In FCC regression the cointegrating coefficient vector \beta(.) is a function of a covariate z_t. The true limit distribution of the local level kernel estimator of \beta(.) is shown to have multiple forms, each form depending on the bandwidth rate in relation to the sample size n and with an optimal convergence rate of n^{3/4} which is achieved by letting the bandwidth have order 1/n^{1/2}.when z_t is scalar. Unlike stationary …

High-Dimensional Vars With Common Factors, Ke Miao, Peter C.B. Phillips, Liangjun Su

Cowles Foundation Discussion Papers

This paper studies high-dimensional vector autoregressions (VARs) augmented with common factors that allow for strong cross section dependence. Models of this type provide a convenient mechanism for accommodating the interconnectedness and temporal co-variability that are often present in large dimensional systems. We propose an `1-nuclear-norm regularized estimator and derive non-asymptotic upper bounds for the estimation errors as well as large sample asymptotics for the estimates. A singular value thresholding procedure is used to determine the correct number of factors with probability approaching one. Both the LASSO estimator and the conservative LASSO estimator are employed to improve estimation precision. The conservative …

Common Bubble Detection In Large Dimensional Financial Systems, Ye Chen, Peter C. B. Phillips, Shuping Shi

Cowles Foundation Discussion Papers

Price bubbles in multiple assets are sometimes nearly coincident in occurrence. Such near-coincidence is strongly suggestive of co-movement in the associated asset prices and likely driven by certain factors that are latent in the financial or economic system with common effects across several markets. Can we detect the presence of such common factors at the early stages of their emergence? To answer this question, we build a factor model that includes I(1), mildly explosive, and stationary factors to capture normal, exuberant, and collapsing phases in such phenomena. The I(1) factor models the primary driving force of market fundamentals. The explosive …

The Shadow Cost Of Parking Minimums: Evidence From Los Angeles County, Sofia Franco, W. Bowman Cutter, Skyler Lewis

Pomona Economics

Minimum Parking Requirements (MPRs) are almost universal in U.S. cities and common in the rest of the world. In the U.S., parking requirements for commercial buildings commonly require 700 ft² of parking for each 1000 ft² of floor space. To the extent this is a binding requirement, MPRs could result in distortion in commercial development. MPRs require either the allocation of land for parking, or very costly substitution of structured parking for land. Therefore, MPR distortions are likely to increase with the value of land. A steep gradient in the cost of the MPRs leads to the possibility …

Miamian Meets Mariel Boatlift Refugees: A Reevaluation Of The Effect Of The Mariel Boatlift, Derrick Lee

Theses and Dissertations

In the 1980s, a boatlift brought 125,000 Cuban refugees to Miami, known as the Mariel Boatlift. Using data from David Roodman’s blog and from National Bureau Economic Research and the synthetic control method, I examine the effect of the Mariel Boatlift on low-educated female non-Hispanic ages 18-65’s wages. The results suggest there is little to no effect of the Mariel Boatlift on the wages of low-educated female non-Hispanic aged 18-65.

The Effect Of Naloxone Access Laws On The Type Of Referrals And Admin Treatment Settings Of Drug Treatment Centers For Opioid Abuse, Samanta Kolenovic

Theses and Dissertations

Since 1999, deaths from drug overdose have more than doubled in the U.S. making it one of the leading health problems. This paper examines the impact of passing a naloxone access law on the type of referrals and admin treatment settings of drug treatment centers for opioid abuse.

Effect Of The Affordable Care Act Medicaid Expansion On Labor Participation Of Female Registered Nurses In Outpatient Care, Deborah R. Weissner

Theses and Dissertations

Medicaid expansions were used to examine the effects of a surge in demand for primary care on the labor participation of registered nurses (RN) in outpatient settings relative to hospitals. Using difference-in-differences and two-way fixed effects with the American Community Survey Public Use Microdata Sample single-year 2010 through 2017 files, I find an increase in the probability of an RN working in an outpatient setting among (1) young, unmarried RNs with a maximum household income of 501 percent of the federal poverty level and (2) young unmarried RNs who have at least one child under age 6. These results are …

How Can Mongolia Avoid The Resource Curse?, Batbayar Baatarkhuu

International Programs

The resource curse paradox, i.e., that resource rich countries tend to have weaker economies than no-resource countries, causes challenges for low and middle-income countries, including Mongolia (Moran, 2013). To avoid the resource curse, Mongolia should undertake three policy measures: diversifying its economy, establishing a sovereign wealth fund and imposing import restrictions.

Regional Development Agencies In Turkey, Baris Alan

International Programs

This research examines to what extend (Neoliberal institutional structure of) the regional development agencies were successful in decreasing the regional development disparities between the regions of Turkey

Differences In Immigrant Education By Destination Country: An Analysis Of Turkish Immigrants' Perception Of And Performance In Math And Science, Lisa Turley Smith

Undergraduate Honors Theses

This thesis examines how the country to which Turkish immigrant students immigrate affects their educational outcomes – specifically, math and science test scores and four constructed variables that measure how much students enjoy math and science and their self-rated confidence in the subjects. I use data from the 2003, 2006, 2012, and 2015 Programme for International Student Assessment (PISA) exams. I examine Turkish immigrant students living in Austria, Belgium, Switzerland, Germany and Denmark.

My findings are consistent with prior research showing that immigrant student test scores vary by destination country. I also find that Turkish immigrant students’ perceptions of math …

Empirical Asset Pricing Of Saudi Stock Market, Muath Alolayan

LSU New Orleans Theses and Dissertations

This essay tests the differences in equity returns between Islamic and conventional firms using the Capital Asset Pricing Model (CAPM), Fama & French three factors model, and Fama & French four factors model. We us the Fama-Macbeth methodology to test the adequacy and explanatory power of the various model specifications. We find that the CAPM can better predict the factors for Islamic firms but not the conventional firms. There was a failure of Fama and French three factors and four factors model for Islamic, conventional and the total market. The estimated Beta is very close to the market for the …

Paradox In The Bayou: Development And Displacement In America’S Wetlands, Allison Oliver Haertling

LSU New Orleans Theses and Dissertations

The bayou communities situated at the southern ends of Terrebonne Parish, Louisiana possess a rich and uniquely diverse cultural heritage. However, economic factors, combined with environmental issues such as land loss from oil and gas dredging, subsidence, and rising seas, have spurred significant migration “up the bayou” in recent decades, threatening the loss of these cultures and leaving behind a population that is growing increasingly more vulnerable. This study investigates the current and anticipated social, physical and fiscal impacts of persistent land loss and population decline on lower Terrebonne Parish, as well as planning strategies for maintaining existing infrastructure and …

Social Capital Determinants And Labor Market Networks, Brian J. Asquith, Judith K. Hellerstein, Mark J. Kutzbach, David Neumark

Presentations

No abstract provided.

Covid-19: Payment Protection Program (Ppp) Loan Impact In The Mountain West, Eshaan Vakil, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet summarizes the impact of COVID-19 relief loans on small businesses in 5 Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah. Using data reported by the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), researchers at Brookings report, “across metro areas, COVID-19 relief loans are helping some places more than others.” This fact sheet explores the geographic distribution of PPP loans in 20 “very large,” “large,” “midsize,” and “small” metropolitan statistical areas (MSA) in the Mountain West.

Cares Act Implications On Tax Planning For Farmers, Tina N. Barrett

Cornhusker Economics

The CARES Act, passed in March of 2020, provid-ed many changes that directly impacted farmers. It created both the Payroll Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), which many farmers utilized. However, the CARES Act included several other provisions that didn’t get as much attention. Farmers need to be aware of these as they go into tax planning this fall, as they could benefit their operations.

Bringing Jobs To People: Improving Local Economic Development Policies, Timothy J. Bartik

Upjohn Institute Policy Papers

Many local labor markets in the United States suffer from low employment rates, but getting people to move out of these distressed areas is difficult. Moreover, moving people to job-rich regions does not help those left behind, as out-migration destroys jobs in distressed areas. A better way to help the residents of distressed areas is through local economic development policies that boost job growth and employment rates in a sustained fashion. Such policies can successfully encourage local business and job growth through business tax incentives, cash grants, or customized public services, such as advice to small businesses, job training, infrastructure …

Mechanisms Study: Using Game Theory To Assess The Effects Of Social Norms And Social Networks On Adolescent Smoking In Schools—Study Protocol, Ruth F. Hunter, Felipe Montes, Jennifer M. Murray, Sharon C. Sanchez-Franco, Shannon C. Montgomery, Joaquín Jaramillo, Christopher Tate, Rajnish Kumar, Laura Dunne, Abhijit Ramalingam, Erik O. Kimbrough, Erin Krupka, Huiyu Zhou, Laurence Moore, Linda Bauld, Blanca Llorente, Olga L. Sarmiento, Frank Kee

Economics Faculty Articles and Research

This proof of concept study harnesses novel transdisciplinary insights to contrast two school-based smoking prevention interventions among adolescents in the UK and Colombia. We compare schools in these locations because smoking rates and norms are different, in order to better understand social norms based mechanisms of action related to smoking. We aim to: (1) improve the measurement of social norms for smoking behaviors in adolescents and reveal how they spread in schools; (2) to better characterize the mechanisms of action of smoking prevention interventions in schools, learning lessons for future intervention research. The A Stop Smoking in Schools Trial (ASSIST) …

Essays On Issues In Management And Gender, Priyanka Chakraborty

Economics Theses and Dissertations

This dissertation consists of three empirical essays that focus on the intersection of management, gender issues and education. I am interested in finding policy interventions that promote healthy, efficient and more inclusive workplaces. To do so, I study the micro and behavioral aspects of labor markets using different methodologies. In Chapters 1 and 2, I study two key features in management, namely mentorship and leadership. Both have an economic impact on individual employee outcomes as well as organizational performance. I examine advice giving in mentoring relations in my job market paper and leadership decisions, performance and styles of men and …

Tax Credits For Child Care Increase Take Up And May Help More Mothers Work, Gabrielle Pepin

Upjohn Institute Policy and Research Briefs

No abstract provided.

The Effects Of Child Care Subsidies On Paid Child Care Participation And Labor Market Outcomes: Evidence From The Child And Dependent Care Credit, Gabrielle Pepin

Upjohn Institute Working Papers

The Child and Dependent Care Credit (CDCC), a tax credit based on taxpayers’ income and child care expenses, reduces families’ child care costs. The nonrefundable federal CDCC is available to working families with children younger than 13 years old in all states, and nearly half of states supplement the federal credit with their own child care credits. The Economic Growth and Tax Relief Reconciliation Act expanded the federal CDCC in 2003, which led to differential increases in CDCC generosity across states and family sizes. I document CDCC eligibility and expenditures over time and across income and demographic groups. Using data …

Interstate Protectionism: The Case Of Solar Renewable Energy Credits, Jed J. Cohen, Levan Elbakidze, Randall Jackson

The Nature Conservancy

Solar Renewable Energy Credits (SRECs) are financial instruments created by state policies to offer incentives for generating solar energy. In an effort to support in-state solar energy sectors and boost local employment opportunities, some states have closed off their SREC markets to out-of-state solar facilities. We examine the merits of such protectionist policy from the protectionist states perspective. We find that SREC market closure leads to higher in-state SREC prices, greater solar installation, and lower electricity prices. The study illustrates the economic incentives for protecting in-state SREC markets from out-of-state solar energy producers.

Economic Impact Study: United Methodist Community House Expansion, Christian Glupker, Leslie Muller, Julie Cowie, Grand Valley State University

Other Faculty Publications

In 2019, United Methodist Community House (UMCH) commissioned IFF, a real estate consulting firm, to perform a strategic facility plan. This strategic plan’s needs assessment included the following: A new senior center, expanded child development center, and relocation of administrative offices.

Seidman Research Office at Grand Valley State University was retained by UMCH to perform an economic assessment of the IFF strategic facility plan. This economic assessment will:

(A) evaluate the economic impact of construction of proposed senior center;

(B) evaluate the economic impact of UMCH operations;

(C) evaluate the economic impact of expanded child development center; and

(D) quantify …

Rhode Island Current Conditions Index -- August 2020, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

The Impacts Of Educational, Environmental And Economic Factors On The Happiness Index: Score Of A Country, Molly Mingus

Proceedings of the Jepson Undergraduate Conference on International Economics

In this paper I analyze the impacts of educational, environmental and economic factors on the Happiness Index Score of a Country through a linear regression model. By using the most updated data for 86 countries, I was able to create a well-rounded model of happiness that includes additional variables not previously used in happiness research. This model finds a positive relationship between the Percentage of a Population in Tertiary School and happiness. A negative relationship that is discovered in the model shows that there is evidence that an increase in a country’s Infant Mortality Rate has a negative effect on …

Need For Diversity In Elected Decision-Making Bodies: Economics-Related Analysis, Nguyen Ngoc Thach, Olga Kosheleva, Vladik Kreinovich

Departmental Technical Reports (CS)

On a qualitative level, everyone understands the need to have diversity in elected decision-making bodies, so that the viewpoint of each group be properly taken into account. However, when only the usual economic criteria are used in this election -- e.g., in the election of company's board -- the resulting bodies often under-represent some groups (e.g., women). A frequent way to remedy this situation is to artificially enforce diversity instead of strictly following purely economic criteria. In this paper, we show the current seeming contradiction between economics and diversity is caused by the imperfection of the use economic models: in …

Dual Immersion Programs And Their Implications: Focused Analyses On The Educational History, Francisco Reynoso Barron

International Studies (MA) Theses

As a social construct, education fulfills the necessary elements, ideologies, and rituals required to construct social norms for society. What a society deems as a norm determines the sentiments and direction that a nation will take. These normative tendencies lead to national identity and national security through policies and legislation within the nations' utilization of sovereignty. National interest being influenced by global events and ethnocentric ideologies has seen cycles leading to different immigration, educational, and economic policies. This paper analyzes dual immersion programs, which have been treated as a controversial topic due to its implications on national security and identity. …

Skbi Big 5 Survey 2020 August, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The COVID-19 pandemic led to whopping downward revisions to 2020 real GDP growth among the Big5 economies, on average greater than 7%-points (ranging from roughly 3.5%-points for China to more than 10%-points for India). The forecast revisions to headline inflation were less sizable and more uneven, perhaps because of the confluence of supply and demand influences. The 2021 median GDP forecast is expected to turn positive overall, with a balanced risk assessment for most of the Big5 (but a coin toss in IN and US), but the growth reversal is likely to be highly uneven. While China regains its prior …

Brexit And The Effects On European Adrs Vs British Adrs, Matthew Clint Bisbee

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

Using a collection of American Depositary Receipts (ADRs), this study examines the stock-price reaction of European, European Union, and British firms to the Brexit Referendum on June 23, 2016. Results show that non-European firms experienced greater returns than the market after the Brexit referendum. European, European Union, and British firms all experienced negative returns compared to the average market return. While at first glance British firms appeared to experience even greater negative returns as compared to firms in the European Union, overall there was no statistically significant difference between returns for firms in the European Union and firms in the …

Data For "Consistent Differences In A Virtual World Model Of Ape Societies", Bart J. Wilson, Sarah F. Brosnan, Elizabeth V. Lonsdorf, Crickette M. Sanz

Business and Economics Faculty Data Sets

The zip file contains the data for the paper entitled "Consistent Differences in a Virtual World Model of Ape Societies" which appears in Scientific Reports.