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2020

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Articles 661 - 690 of 2108

Full-Text Articles in Economics

The Impact Of Taxes And Wasteful Government Spending On Giving, Roman Sheremeta, Neslihan Uler Jul 2020

The Impact Of Taxes And Wasteful Government Spending On Giving, Roman Sheremeta, Neslihan Uler

ESI Working Papers

We examine how taxes impact charitable giving and how this relationship is affected by the degree of wasteful government spending. In our model, individuals make donations to charities knowing that the government collects a flat-rate tax on income (net of charitable donations) and redistributes part of the tax revenue. The rest of the tax revenue is wasted. The model predicts that a higher tax rate increases charitable donations. Surprisingly, the model shows that a higher degree of waste decreases donations (when the elasticity of marginal utility with respect to consumption is high enough). We test the model’s predictions using a …

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Cost Estimations Of Potential Scholarship Programs For The Rockford Promise, George A. Erickcek Jul 2020

Cost Estimations Of Potential Scholarship Programs For The Rockford Promise, George A. Erickcek

Reports

This brief report presents a 10-year cost forecast for three possible Rockford Promise Scholarship programs: (1) A program that provides full, two-year, tuition scholarships for all Rockford Public School graduates who select to attend the Rock Valley College; (2) The scholarship is available for eligible students who enroll full-time at a partnering college or university in the fall following their high school graduation; and (3) The provision of an annual $4,000 scholarship for all Rockford Public School high school graduates for up to 4 years of college. The report concludes with comments on how the Rockford Promise may best achieve …

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Are Financing Constraints Binding For Investment? Evidence From A Natural Experiment, Katarzyna Anna Bilicka Jul 2020

Are Financing Constraints Binding For Investment? Evidence From A Natural Experiment, Katarzyna Anna Bilicka

Economics and Finance Faculty Publications

This paper shows that the availability of cash flows dominates the effects of cost of capital for investment at the firm level. Using an exogenous tax reform in Canada as a quasi-natural experiment, I find that a temporary and unexpected increase in the cost of capital for firms with low availability of retained earnings has no effect on investment of those firms. A subsequent direct increase in the availability of cash flows has large effects on investment. This suggests that internal financing constraints are binding for firms, as they prefer to use low cost retained earnings to finance their investment.

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An Ontology Of Human Flourishing: Economic Development And Epistemologies Of Faith, Hope, And Love, Jan Van Vliet Jul 2020

An Ontology Of Human Flourishing: Economic Development And Epistemologies Of Faith, Hope, And Love, Jan Van Vliet

Faculty Work Comprehensive List

This chapter demonstrates that the presence of poverty, and its associated pathologies, is of concern to all humankind whose innate desire is to seek the flourishing of fellow humanity. The traditional, often unsuccessful, methods of poverty alleviation have been challenged in creative, bold, and refreshing ways that are superior in both identifying poverty and moving agencies and pathways toward greater success. This involves a technical application of quantitative microeconomics which is paired with expertise and insights on human behavior gleaned from the behavioral sciences. It turns out that human behavior is often better explained by behavioral categories such as hope …

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Information Search And Financial Markets Under Covid-19, Behzod B. Ahundjanov, Sherzod Akhundjanov, Botir B. Okhunjanov Jul 2020

Information Search And Financial Markets Under Covid-19, Behzod B. Ahundjanov, Sherzod Akhundjanov, Botir B. Okhunjanov

Applied Economics Faculty Publications

The discovery and sudden spread of the novel coronavirus (COVID-19) exposed individuals to a great uncertainty about the potential health and economic ramifications of the virus, which triggered a surge in demand for information about COVID-19. To understand financial market implications of individuals’ behavior upon such uncertainty, we explore the relationship between Google search queries related to COVID-19—information search that reflects one’s level of concern or risk perception—and the performance of major financial indices. The empirical analysis based on the Bayesian inference of a structural vector autoregressive model shows that one unit increase in the popularity of COVID-19-related global search …

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Assessing Community Needs: City Of Toledo And Lucas County, Ohio, Jim Robey, Stephen Biddle, Don Edgerly, Marie Holler, Brian Pittelko, Claudette Robey, Kathleen Bolter, Tom Schorgl Jul 2020

Assessing Community Needs: City Of Toledo And Lucas County, Ohio, Jim Robey, Stephen Biddle, Don Edgerly, Marie Holler, Brian Pittelko, Claudette Robey, Kathleen Bolter, Tom Schorgl

Reports

At the core of issues in Lucas County and, in particular, the City of Toledo is poverty. While this does not necessarily provide an “Aha!” moment, current conditions that contribute to being economically disadvantaged in many areas of the city and county affect not only current residents but will also affect future residents—without meaningful and targeted interventions. It is beyond the scope of the Toledo Community Foundation, or any single institution for that matter, to unilaterally address the range of issues presented in this study. Remedying these issues must be accomplished through the coordination and leveraging of resources, including public, …

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The Economic Impact Of The Manufacturing Extension Partnership (Mep), 2018, Jim Robey, Kathleen Bolter Jul 2020

The Economic Impact Of The Manufacturing Extension Partnership (Mep), 2018, Jim Robey, Kathleen Bolter

Reports

Analyses of the overall effect of individual state Manufacturing Extension Partnership (MEP) projects on corresponding states' economies for the year 2018.

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The Economics Of Babysitting A Robot, Aleksandr Alekseev Jul 2020

The Economics Of Babysitting A Robot, Aleksandr Alekseev

ESI Working Papers

I study the welfare effect of automation on workers in a setting where technology is complementary but imperfect. Using a modified task-based framework, I argue that imperfect complementary automation can impose non-pecuniary costs on workers via a behavioral channel. The theoretical model suggests that a critical factor determining the welfare effect of imperfect complementary automation is the automatability of the production process. I confirm the model's predictions in an experiment that elicits subjects' revealed preference for automation. Increasing automatability leads to a significant increase in the demand for automation. I explore additional drivers of the demand for automation using machine …

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Socioeconomic Indicators And Economic Impact Analysis Of Firekeepers Casino And Hotel, Jim Robey Jul 2020

Socioeconomic Indicators And Economic Impact Analysis Of Firekeepers Casino And Hotel, Jim Robey

Reports

No abstract provided.

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Listening To Voices In Appalachia: Gathering Wisdom From The Field About Substance-Abuse Recovery Ecosystems, Bruce Behringer Jul 2020

Listening To Voices In Appalachia: Gathering Wisdom From The Field About Substance-Abuse Recovery Ecosystems, Bruce Behringer

Journal of Appalachian Health

New qualitative data collected through six regional community-based listening sessions and community meetings are presented that describe elements of the Appalachian Regional Commission’s Recovery Ecosystem Model. These data informed the Model, which was used in formulating the new ARC Recovery-to-Work initiative. Input was intentionally solicited from multiple sectors, including persons recovering from substance abuse disorder, treatment and recovery service providers, workforce development agencies, employers, and community advocacy groups.

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Responding To Appalachian Voices: Steps In Developing Substance-Use Recovery Ecosystems, Bruce Behringer Jul 2020

Responding To Appalachian Voices: Steps In Developing Substance-Use Recovery Ecosystems, Bruce Behringer

Journal of Appalachian Health

A description is presented of the four-step process used by the Appalachian Regional Commission to develop a new Recovery to Work initiative. The Commission identified, defined, and described issues facing individuals who complete substance abuse disorder treatment and who seek reentry into the workforce. Key elements were identified for resources and supports to develop and maintain community-based substance abuse recovery ecosystems. The steps included conceptualization, data collection, analysis, and review to formulate recommendations for program and policy development. The full process of development was accomplished in twelve months.


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Experiencing Cancer In Appalachian Kentucky, Melanie Mccomsey, David Ahern, Robin C. Vanderpool, Timothy W. Mullett, Ming-Yuan Chih, Meghan Johnson, Michele Ellison, Karen Onyeije, Bradford W. Hesse, Eliah Aronoff-Spencer Jul 2020

Experiencing Cancer In Appalachian Kentucky, Melanie Mccomsey, David Ahern, Robin C. Vanderpool, Timothy W. Mullett, Ming-Yuan Chih, Meghan Johnson, Michele Ellison, Karen Onyeije, Bradford W. Hesse, Eliah Aronoff-Spencer

Journal of Appalachian Health

Nothing tells the story of people working together better than a community quilt. A diversity of talents, colors, and materials brought together through skill and shared purpose. Perhaps never before have we as Americans needed a stronger reminder that many hands make short work of big problems. The work presented here by the L.A.U.N.C.H. Collaborative offers a new framework for health care that could be compared to a digital quilt, powered by community-based participatory design, with lived expertise and the newest advances in broadband-enabled connected health solutions. This work demonstrates the value and need to engage local communities and what …

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Preface: Experiencing Cancer In Appalachian Kentucky, Michele Ellison, Robin C. Vanderpool Jul 2020

Preface: Experiencing Cancer In Appalachian Kentucky, Michele Ellison, Robin C. Vanderpool

Journal of Appalachian Health

Connected cancer care is of increasing importance in light of the COVID-19 pandemic. The Linking & Amplifying User-Centered Networks through Connected Health (L.A.U.N.C.H.) Collaborative in Appalachian Kentucky has pioneered a new roadmap for equipping communities with the transformative power of broadband to innovate around the future of cancer care and to better scale their ideas. The roadmap involves reaching across disciplines, including public health, anthropology, telecommunications, and user-centered design. The goal is to leverage connectivity and cancer communication research and practice to make a real difference for patients and families.

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Appalachian Regional Commission Recovery Ecosystem Background And Overview, Kostas Skordas, Andrew Howard Jul 2020

Appalachian Regional Commission Recovery Ecosystem Background And Overview, Kostas Skordas, Andrew Howard

Journal of Appalachian Health

The Appalachian Regional Commission (ARC) has long addressed issues of substance abuse through funded community-based interventions, research, and sponsored conferences. Recently, the opioid crisis created a new urgency for cross-sector collaboration among various partners and funders dealing with this issue. This commentary provides an overview of recent efforts by the ARC to convene stakeholders to focus on assisting individuals with substance abuse disorder to access recovery services while pursuing education and training necessary to reenter the workforce and gain employment. Two papers have been prepared to describe this year-long effort. One paper focuses on the participatory methods used to gather …

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Perspective On Substance-Abuse Recovery Ecosystem From The Appalachian Regional Commission Federal Co-Chair, Tim Thomas Jul 2020

Perspective On Substance-Abuse Recovery Ecosystem From The Appalachian Regional Commission Federal Co-Chair, Tim Thomas

Journal of Appalachian Health

The Appalachian Regional Commission (ARC) is a local, state, and federal partnership focused on economic development in the communities of the Appalachian Region. ARC Federal Co-Chairman Tim Thomas provides his perspective on how an economic development entity, such as ARC, can support efforts to address the Region’s drug crisis in a way that both saves lives and strengthens economic opportunity in communities throughout Appalachia.

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Fiscal Challenges And Anticipated Changes To Kentucky's Population Health System, Jeffrey Howard Jul 2020

Fiscal Challenges And Anticipated Changes To Kentucky's Population Health System, Jeffrey Howard

Journal of Appalachian Health

The hallmark of public health is population-level intervention. However, current public health funding in Kentucky is largely programmatic or disease-based. As a result, public health leaders are not able to appropriately utilize present resources to pursue population health endeavors. However, a recent transformation of the public health system has emphasized multisector partnerships and efficient funding mechanisms that may increase resources to pursue population-level health interventions based on community health assessments.

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Lessons Learned: A Conversation With Paul A. Volcker, Andrew Metrick, Rosalind Z. Wiggins, Kaleb B. Nygaard Jul 2020

Lessons Learned: A Conversation With Paul A. Volcker, Andrew Metrick, Rosalind Z. Wiggins, Kaleb B. Nygaard

Journal of Financial Crises

On March 26, 2019, Andrew Metrick, the Janet Yellen Professor of Finance at the Yale School of Management and Founder and Director of the Yale Program on Financial Stabilitysat down with Paul A. Volcker to discuss his perspectives on the Federal Reserve, central banking autonomy, “too big to fail,” and how his perspectives on these topics have changed over the decades.It turned out to be one of the last interviews given by the former Chairman of the Federal Reserve System who passed away on December 8, 2019, at the age of 92.

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The Federal Reserve’S Financial Crisis Response E: The Term Asset-Backed Securities Loan Facility, Rosalind Z. Wiggins, Andrew Metrick Jul 2020

The Federal Reserve’S Financial Crisis Response E: The Term Asset-Backed Securities Loan Facility, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Securitization is a process that allows banks and other lenders to package loans and sell them as bonds called asset-backed securities (ABS), removing them from their balance sheets and immediately generating cash for new loans. ABS are an important component of the financing cycle for many types of loans to households and small businesses, including mortgages. In the fall of 2008, financial markets began experiencing disturbances as the effects of the U.S. subprime market meltdown spread. The ABS market froze decreasing the volume of new loans to households and small businesses. The Federal Reserve became very concerned about the potential …

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The Federal Reserve’S Financial Crisis Response D: Commercial Paper Market Facilities, Rosalind Z. Wiggins, Andrew Metrick Jul 2020

The Federal Reserve’S Financial Crisis Response D: Commercial Paper Market Facilities, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

During the summer of 2007, the U.S. residential mortgage market began to decline sharply negatively impacting the asset-backed commercial paper (ABCP) market, which often relied on mortgages as underlying support. Money Market Mutual Funds (MMMFs), significant investors in commercial paper (CP), quickly retreated from the market, causing a substantial decline in outstanding ABCP. In September 2008, pressures on the markets severely escalated again, when the Reserve Primary Fund MMMF “broke the buck” and prompted run-like redemption requests by many MMMF investors. These disruptions resulted in higher rates and shorter maturities, practically freezing the market for term CP. Concerned about the …

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The Federal Reserve’S Financial Crisis Response C: Providing U.S. Dollars To Foreign Central Banks, Rosalind Z. Wiggins, Andrew Metrick Jul 2020

The Federal Reserve’S Financial Crisis Response C: Providing U.S. Dollars To Foreign Central Banks, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

The financial crisis that began in late 2007 with the decline in the United States (U.S.) subprime mortgage markets quickly spread to other markets and eventually disrupted the interbank funding markets in the U.S. as well as overseas. To address the strain in the U.S. dollar (USD) funding markets, the Federal Reserve worked with foreign central banks around the world to provide USD liquidity to affected overseas markets by entering into currency swap agreements. Following the bankruptcy of Lehman Brothers in September 2008, and the resulting further destabilization of the world’s financial systems, the size and utilization of these swaps …

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The Federal Reserve’S Financial Crisis Response B: Lending & Credit Programs For Primary Dealers, Rosalind Z. Wiggins, Patricia C. Mosser, Andrew Metrick Jul 2020

The Federal Reserve’S Financial Crisis Response B: Lending & Credit Programs For Primary Dealers, Rosalind Z. Wiggins, Patricia C. Mosser, Andrew Metrick

Journal of Financial Crises

Beginning in the summer 2007 the Federal Reserve (the Fed) deployed numerous conventional and innovative programs to address the credit crisis occurring in the wholesale lending markets that was beginning to affect the broader financial markets and threaten the economy at large. Two of those programs, the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) were aimed at providing liquidity to primary dealers and required the Fed to rely on its authority under Section 13(3) of the Federal Reserve Act. Section 13(3) is a Depression Era amendment that permits the Fed expanded powers in “unusual and …

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The Federal Reserve’S Financial Crisis Response A: Lending & Credit Programs For Depository Institutions, Rosalind Z. Wiggins, Andrew Metrick Jul 2020

The Federal Reserve’S Financial Crisis Response A: Lending & Credit Programs For Depository Institutions, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in summer 2007, the Federal Reserve (the Fed) was called upon to address a severe disruption in the interbank lending markets sparked by a downturn in the subprime mortgage market. As these developments began to impact the ability of banks to raise adequate funding, the Fed encouraged them to utilize the Discount Window (DW), its standing facility for lending to depository institutions, and repeatedly decreased the lending rate to make the facility more accessible. Despite the Fed’s efforts, for a number of reasons, including historical perceptions of stigma, banks were reluctant to utilize the DW. In December 2007, the …

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Solvency As A Fundamental Constraint On Lolr Policy For Independent Central Banks: Principles, History, Law, Sir Paul M. W. Tucker Jul 2020

Solvency As A Fundamental Constraint On Lolr Policy For Independent Central Banks: Principles, History, Law, Sir Paul M. W. Tucker

Journal of Financial Crises

This paper follows up earlier work advocating a principled modernization of doctrines for central bank lender-of-last-resort policies and operations. It argues for a new Fundamental Constraint on such authorities: namely, “the principle that central banks should not lend to firms that they know (or should know) to be fundamentally bust or broken.” Tucker supports this with commentary from various peers, a review of principles underlying bankruptcy law and resolution schemes, and by deconstructing other common counterarguments. Centrally, he argues that when central banks breach the Fundamental Constraint, they distribute resources to short-term creditors at the expense of longer-term creditors, …

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Copula-Based Time Series With Filtered Nonstationarity, Xiaohong Chen, Zhijie Xiao, Bo Wang Jul 2020

Copula-Based Time Series With Filtered Nonstationarity, Xiaohong Chen, Zhijie Xiao, Bo Wang

Cowles Foundation Discussion Papers

Economic and financial time series data can exhibit nonstationary and nonlinear patterns simultaneously. This paper studies copula-based time series models that capture both patterns. We propose a procedure where nonstationarity is removed via a filtration, and then the nonlinear temporal dependence in the filtered data is captured via a flexible Markov copula. We study the asymptotic properties of two estimators of the parametric copula dependence parameters: the parametric (two-step) copula estimator where the marginal distribution of the filtered series is estimated parametrically; and the semiparametric (two-step) copula estimator where the marginal distribution is estimated via a rescaled empirical distribution of …

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Essays On Emotional Well-Being, Health Insurance Disparities And Health Insurance Markets, Disha Shende Jul 2020

Essays On Emotional Well-Being, Health Insurance Disparities And Health Insurance Markets, Disha Shende

Economics ETDs

This dissertation has three research papers. First paper looks at the effect of social networks on emotional well-being of cancer patients by studying the response of social networks on their depression symptoms. Using the data from a primary survey conducted in Nepal, the study finds that social networks significantly reduce depression symptoms among cancer patients. The results strongly advocate for the importance of the social networks in improving their emotional well-being. Second paper examines the health coverage disparities among Hispanic and non-Hispanic young adults in five southwestern states of the United States. Using the pooled data from American Community Survey …

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Expanding The Economic Approach To Public Policy: An Analysis Of Health And Labor Market Outcomes, Joaquin Alfredo-Angel Rubalcaba Jul 2020

Expanding The Economic Approach To Public Policy: An Analysis Of Health And Labor Market Outcomes, Joaquin Alfredo-Angel Rubalcaba

Economics ETDs

The approach used to answer many public policy questions is firmly rooted in the empirical and theoretical frameworks developed in the field of economics. The proposition of the economic approach to public policy has provided the foundation in which policy makers and practitioners design policies and investigate outcomes. The purpose and scope of this dissertation is to explore health and labor market outcomes within in the economic framework, while proposing two separate and novel analytical approaches. The theme connecting the sections of this dissertation can be characterized as a development of the economic approach to public policy analysis. In Chapter …

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Coronavirus Food Assistance Program (Cfap) Payments For Nebraska Livestock Producers, E. Wesley F. Peterson Jul 2020

Coronavirus Food Assistance Program (Cfap) Payments For Nebraska Livestock Producers, E. Wesley F. Peterson

Cornhusker Economics

In the June 10, 2020 issue of Cornhusker Economics, the Coronavirus Food Assistance Program (CFAP) was described and the average level of payments to Nebraska Corn and Soybean Producers from this program were estimated. CFAP includes payments for both livestock and crops and in this issue, I explain eligibility requirements, payment sources, and expected payments for Nebraska livestock producers. The COVID-19 epidemic in the United States caused hardships for both producers and consumers of livestock products. The virus affected workers in livestock processing and packing plants, in particular, due to the nature of the work which normally requires working in …

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Impact Of Political Action Committee On Government Contracts, Bibek Acharya Jul 2020

Impact Of Political Action Committee On Government Contracts, Bibek Acharya

Economics ETDs

This research aims to determine whether politically active corporations are more likely to get government contracts or likely to get more massive deals than corporations that are not politically active. The research question is, to what extent is the increase in government contracts due to the presence of corporate PACs or the amount spent by corporate PACs? In sum, we expect that the existence of PACs and the higher the corporation contributions in support of candidates for federal offices, the higher their chances of getting a contract or a more massive contract. We find that corporations that have a PAC …

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Data Science In The Public Interest: Improving Government Performance In The Workforce, Joshua D. Hawley Jul 2020

Data Science In The Public Interest: Improving Government Performance In The Workforce, Joshua D. Hawley

Upjohn Press

This book is about how new and underutilized types of big data sources can inform public policy decisions related to workforce development. Hawley describes how government is currently using data to inform decisions about the workforce at the state and local levels. He then moves beyond standardized performance metrics designed to serve federal agency requirements and discusses how government can improve data gathering and analysis to provide better, up-to-date information for government decision making.

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Does Social Trust Affect International Contracting? Evidence From Foreign Bond Covenants, Paul Brockman, Sadok El Ghoul, Omrane Guedhami, Ying Zheng Jul 2020

Does Social Trust Affect International Contracting? Evidence From Foreign Bond Covenants, Paul Brockman, Sadok El Ghoul, Omrane Guedhami, Ying Zheng

Finance Department Faculty Journal Articles

Building on rational choice institutionalism theory and Williamson’s (J Econ Lit 38(3): 595–613, 2000) four-level social analysis framework, we investigate the influence of the informal institution of social trust on debt contract design in an international setting. Using a sample of non-U.S. firms that issue bonds in the U.S. debt market, we find that Yankee bond creditors impose fewer covenants on bond issuers domiciled in countries with a high degree of social trust. We further show that the inverse relationship between debt covenants and the informal institution of social trust is more pronounced for firms from countries with weak formal …

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