Economics Commons^™

Finland’S 1992 Capital Injection, Kaleb B. Nygaard

Journal of Financial Crises

Following a large-scale deregulation of the financial sector during the 1980s and subsequent massive credit expansion, a banking crisis in Finland caused a sharp contraction in the economy in the early 1990s. To prevent the collapse of the banking system, the government offered FIM 8 billion in capital injections. Parliament appropriated the funds in the spring of 1992 and terms were defined in June 1992. The program was open to all banks, in proportion to their size, regardless of their solvency. In the fall of 1992, FIM 7.9 billion was deployed to 56 cooperative banks and 22 savings banks of …

Danish Capital Injections Scheme 2009 (Dk Gfc), Priya Sankar

Journal of Financial Crises

Both the international financial system and Denmark were experiencing challenges in 2007 and 2008, and they came to a head in Denmark when Roskilde Bank experienced liquidity pressures in June 2008. As it became clear that Roskilde Bank was insolvent and no private solutions would be found, and as the global financial crisis worsened leading to the bankruptcy of Lehman Brothers, the Danish government decided to take stronger action. To ensure the short-term survival of Roskilde Bank, the national bank issued a non-limited credit facility. After it passed a deposit guarantee scheme in 2008 and established a Financial Stability Company, …

Austria: Finanzmarktstabilitätsgesetz (Finstag), Claire Simon

Journal of Financial Crises

Following the adoption of a joint framework by euro area countries in response to the intensifying financial crisis in October 2008, Austria enacted a package of measures including the Financial Market Stability Act (Finanzmarktstabilitätsgesetz, or FinStaG). In addition to permitting nationalization under certain circumstances, FinStaG allowed the Austrian government to use six specific measures to recapitalize credit institutions operating in Austria and Austrian insurance companies. According to FinStaG, €15 billion ($22 billion) could be used for this purpose, though this amount was later increased. Eight institutions received support through FinStaG, and the government granted capital and liquidity support totaling €21 …

Essays On Human Capital, Soumyajit Chakraborty

Economics ETDs

The first essay: Agriculture in Nepal is the most critical sector for economic growth – it directly benefits the poor, and a considerable proportion of the population derives their livelihoods from agriculture. This essay uses the 2017–2018 baseline survey data from Nepal Seed and Fertilizer (NSAF) project funded through the USAID’s “Feed the Future” program. The essay explores a causal relationship between agronomical knowledge and productivity-enhancing farming decisions. Evidence indicates that there are significant, consistent, and positive returns to agronomical knowledge via engaging in advisory contact through traditional agricultural extension. Given the drawback of the institutional irregularity of advisory services, …

Recruitment Machines, Community Power And Political Return On Investment (Proi): Economic Development Policy In The Age Of Amazon, Eric G. Griego Montoya

Political Science ETDs

ABSTRACT

A fundamental policy choice in economic development among local policy makers is the appropriate mix of “outside” strategies that use incentives to attract companies, and “inside” strategies that invest in smaller and local businesses. Using a mixed-methods research design, including national and state surveys along with qualitative analysis of interviews conducted with policy elites, I examine the role of ideology, elites, community, competition, social capital (trust and influence), and electoral politics in these policy decisions. I use new descriptive theoretical frameworks called “recruitment machines” and “Political Return on Investment (PROI)” to describe how and why local elected officials support …

Three Essays In Development And Environmental Economics, Michael Benjamin Goodwin

Economics ETDs

This dissertation explores three unique topics in development and environmental economics. The first paper looks at the value people place on clean air in Mexico City using an alternative air pollution measure to the typical ground measurement. Research and policy addressing air pollution remains hampered by a lack of ground level air quality data. This study attempts to overcome this issue using aerosol optical depth from satellite imagery as a proxy for air pollution. Using a hedonic framework and least squares estimation, results show that Mexico City residents place a significant value on clean air as demonstrated by their choices …

Modeling, Analysis, And Control Of Student Loan Debt Using Epidemiological Models, Kavya Ravishankar, Padmanabhan Seshiayer

Annual Symposium on Biomathematics and Ecology Education and Research

No abstract provided.

How Does The Elimination Of State Aid To For-Profit Colleges Affect Enrollment?: Evidence From California’S Reforms, Oded Gurantz, Ryan Sakoda, Shayak Sarkar

Upjohn Institute Policy and Research Briefs

No abstract provided.

How Does The Elimination Of State Aid To For-Profit Colleges Affect Enrollment? Evidence From California’S Reforms, Oded Gurantz, Ryan Sakoda, Shayak Sarkar

Upjohn Institute Working Papers

This paper examines how financial aid reform based on postsecondary institutional performance impacts student choice. Federal and state regulations often reflect concerns about the private, for-profit sector’s poor employment outcomes and high loan defaults, despite the sector’s possible theoretical advantages. We use student-level data to examine how eliminating public subsidies to attend low-performing for-profit institutions impacts students’ college enrollment and completion behavior. Beginning in 2011, California tightened eligibility standards for their state aid program, effectively eliminating most for-profit eligibility. Linking data on aid application to administrative payment and postsecondary enrollment records, this paper utilizes a difference-in differences strategy to investigate …

The Coronavirus Pandemic And International Trade, E. Wesley F. Peterson

Cornhusker Economics

The Coronavirus pandemic has disrupted economic activities around the world. Many businesses had to cease operations and furlough or lay off their workers. The World Bank (2021) has reported that global economic output fell by 3.4% in 2020. The good news is that the massive infusion of financial support from many governments in high-income countries meant that the worst economic effects of the pandemic were mitigated, and a rapid recovery has begun to make up for the pandemic-related losses. The International Monetary Fund (IMF) predicts that the global economy will grow by 5.9% in 2021 recovering the 2020 losses and …

Assessment Of Preference, Health Issues, And Spatial Dependence In A Solid Waste Management System, Mohammad Mashiur Rahman

Economics ETDs

The insurmountable population growth in developing countries, specifically in the urban cities, has posed numerous socio-economic and environmental challenges. The growth of household solid waste is one of them, creating environmental disruption and climate change from a broader perspective. This dissertation investigates three issues related to a solid waste management system; the health risks from improper waste management behavior, household's preference to participate in a waste management system, and the solution to a municipality for optimal allocation of waste disposal by multiple techniques. The first paper uses a primary survey data collected in 2016 to investigate the association between health …

Reemployment Services And Eligibility Assessments (Resea) In Maryland: Process Analysis Report, Christopher J. O'Leary, Gabrielle Pepin, Ting Zhang, Conrad Helms

Upjohn Institute Technical Reports

No abstract provided.

Growing During A Global Crisis, Ahmad E. Shahin

Theses and Dissertations

Employing the data from the World Bank Enterprise surveys, we examine how the first shock of the COVID-19 pandemic has affected firm dynamics across the world. Our first group of robust models have tested the effect of internal firms’ managerial decisions and other external factors on the sales’ growth, where we found that the most important decisions are related to preserving and increasing liquidity levels, in addition to utilizing the workforce in giving more input to maintain and grow the firms’ sales. Our second group of robust models have tested the firms’ financial decisions and other external factors on the …

The Economic Impact Of The Longview Power Plant On West Virginia, Eric Bowen, John Deskins

Bureau of Business & Economic Research

In this report, we consider the potential economic impact of the Longview Power Plant’s switch to in-state coal suppliers, and the Longview Power Plant overall. In addition to increased coal purchases, we estimate the PPA would generate an additional $19.4 million in related economic activity in the state, for a total economic impact of more than $58 million annually.

Optimal Unilateral Carbon Policy, Samuel Kortum, David A. Weisbach

Cowles Foundation Discussion Papers

We derive the optimal unilateral policy in a general equilibrium model of trade and climate change where one region of the world imposes a climate policy and the rest of the world does not. A climate policy in one region shifts activities—extraction, production, and consumption—in the other region. The optimal policy trades off the costs of these distortions. The optimal policy can be implemented through: (i) a nominal tax on extraction at a rate equal to the global marginal harm from emissions, (ii) a tax on imports of energy and goods, and a rebate of taxes on exports of energy …

Life Satisfaction And Tax Morale In Azerbaijan: Mediating Role Of Institutional Trust And Financial Satisfaction, Orkhan Nadirov, Khatai Aliyev, Bruce Dehning, Ilaha Sharifzada, Rafiga Aliyeva

Accounting Faculty Articles and Research

This paper examines the relationship between life satisfaction (measured as the self-reported satisfaction of each individual with their past life and goal achievements) and tax morale (measured as the likelihood of an individual’s intrinsic motivation to pay taxes). Using a large-scale survey dataset from Azerbaijan, it is documented that life satisfaction is positively associated with tax morale. Life satisfaction plays a significant role in increasing tax compliance practices. It is also important to note that there is a positive mediating effect of life satisfaction on tax morale through financial satisfaction and institutional trust. In line with our hypotheses, the results …

Municipal Optimization Of Short-Term Rental Regulations: The Reality Of Airbnb In South Texas Communities, Kenneth M. Culbreth Iii

St. Mary's Law Journal

Abstract forthcoming.

Challenges Of Making Financial Decisions And Avoiding Fraudulent Schemes, Fabio Mattos

Cornhusker Economics

Last month there was an article in the local newspaper about a man accused of defrauding commodity investors for several years in Nebraska. This person is a commodity pool operator (CPO), who is an individual or organization that operates a commodity pool and solicits funds for that pool. A commodity pool is an enterprise in which funds contributed by a number of clients are combined for the purpose of trading futures contracts, options contracts, among other types of financial products. Generally speaking, a CPO manages an investment fund focused on commodity products.

Unscheduled Events, Stock Returns, And Market Efficiency: A Covid-19 Case Study Of Industry Leaders, Nathan R. Durham

Honors College Theses

This thesis explores the effects of unscheduled events on stock market returns due to increased uncertainty. A case study is done on the Coronavirus pandemic for the dates of March 9th, 2020, through March 23rd , 2020. The findings allow for short-run and long-run narratives where long-run returns, and short-run volatility explain how the role of psychology and different forecasting strategies are used to differentiate industry outcomes and technology sector returns.

Black Suburbanization: Causes And Consequences Of A Transformation Of American Cities, Alexander W. Bartik, Evan Mast

Upjohn Institute Working Papers

Since 1970, the share of Black individuals living in suburbs of large cities has risen from 16 to 36 percent. This shift is as large as the post-World War II wave of the Great Migration. We first show that Black suburbanization has led to major changes in neighborhoods, accounting for a large share of recent increases in both the average Black individual’s neighborhood quality and within-Black income segregation. We then show that changes in relative suburban amenities and housing prices explain about 60 and 30 percent, respectively, of Black suburbanization, while regional reallocation, changing educational attainment, and gentrification play only …

California Coastal Recreation: Beyond The Beach, Charles S. Colgan, Philip King, Sarah Jenkins

Publications

California is known throughout the state, nation, and world for its beaches, but the California coast provides so much more in recreational opportunities than just a day at the beach. However, if one were to ask: “How many people actually visit the coast for recreation”, the answer is “No one really knows”.

The reason is simple. No one asks this question on a regular basis. Extensive monitoring of the physical conditions of the coast and coastal waters takes place but nothing remotely comparable is done to track the millions of people who come to the coast.

Because there is no …

Birds Of A Feather Lockdown Together: Mutual Bird-Human Benefits During A Global Pandemic, Michael Brock, Jacqueline Doremus, Liqing Li

Economics

Feeding backyard wildlife has impure public good characteristics - it provides satisfaction to humans, both private and public, while also improving bird populations. We document a surge in human interest in connecting with wild birds during lockdowns in response to the Covid-19 pandemic. Using an event-study design, we find large increases in bird engagement began soon after the start of the COVID-19 lockdowns in Spring 2020. Responses were stronger for areas with more bird species. Investments appear sustained, beginning first with bird feeders, then seed and finally baths. Beyond bird survival, bird feeding can potentially enhance humans' connection to nature …

Income Inequality And Consumption Pattern Among Bop Consumers In India, Sarath Sennimalai, S D. Sivakumar

International Review of Business and Economics

Marketing discipline has evolved through the context of the industrialized or developed world. However, the largest groups of consumers are also the poorest (Bottom of the Pyramid category) and economic inequality is still persisting among BOP consumers. Using the Gini co-efficient, economic inequality was measured with the help of World Bank report. The main aim of this paper is to know about the trends that took place in income inequality and consumption pattern among BOP consumers based on household surveys (from NSSO and World Bank). It shows that income inequality among BOP consumers has been increasing simultaneously with increase in …

Consumer Attitude And Their Purchase Intention: A Review Of Literature, Venkatesh S. Shastry, Anupama

International Review of Business and Economics

The objective of the paper is to bring spotlight on literature related to consumer attitude and purchase intention. The Paper attempts to identify and segregate factors which are vital and critical antecedents to formation of consumer attitude consequently “Intention to purchase”. For this purpose over 200 Journal articles were scrutinized on pre-set parameters, while 25 of them that are relevant research papers presented here. The factors considered include social media, traditional media, Word of mouth, message process involvement and trust. The findings of the study include a gamut of research objectives and aims, host of pertinent scales, commonly adopted methodologies, …

Undergraduate Financial Knowledge, Attitudes, And Behaviors: The Impact Of Financial Life Skills Course On College Students, Cliff A. Robb, Somalis Chy

Grantee Research

The end goal of any program focused on financial literacy is to ultimately improve consumer well-being. Although financial literacy is widely acknowledged as increasingly important for consumers (Keshner, 2021), application of financial literacy programs and provision of supports and resources for consumers has not been consistent in the United States. Currently, thirty-three states require basic financial education in high school, though specific content, depth, and structure varies both within and across states. At the college-level, courses are often elective and content vary significantly from one college or university to another (Goetz et al., 2011; Jobst, 2014; LaBorde & Mottner, 2016; …

Application Of Fmea In Solving The Financial Inclusion Issue In India, Chandravadan Shrihari Goritiyal, Shreya Surve

International Review of Business and Economics

Failure mode and effect analysis (FMEA) is an operational tool which systematically, proactively evaluates the method to spot where the potential failure might occur and identify the potential causes, which would help to reduce the relevant impact of various failures in the process. Financial inclusion generally understood to mean the method of ensuring access to appropriate financial products and services needed by all sections of society including vulnerable groups at an economical cost. It's an immediate impact on the expansion of the economy of the country. This paper analyses the effect of Indian citizen participation in financial inclusion and identifies …

Optimum Commodity Taxation When Employment Matters, P. Nandakumar Warreir

International Review of Business and Economics

Ramsey's inelasticity rule for optimum commodity taxation has been criticized for indicating tax rates for basic necessities which have lower elasticities of demand than luxury consumption items. However, it is noted that skilful marketing techniques tend to lower the demand elasticities of luxury items so that it is not evident that the Ramsey rule is inequitable. In this paper equity concerns from a macroeconomic viewpoint are introduced, modifying the Ramsey rule approach by including total employment in the decision-maker's utility function. Then it is seen that the relative tax rate of the product which is more labour-intensive in production is …

Long-Term Effects Of In Utero Exposure To “The Year Without A Summer”, Hamid Noghanibehambari, Farzaneh Noghani, Nahid Tavassoli, Mostafa Toranji

Economic and Business Review

This paper uses the aftermath of the great Tambora eruption in 1815 as a natural experiment to explore the long-term effects of a nutritional shock during prenatal development. The volcanic explosion of Tambora formed substantial ash columns which hampered sunlight, cooled down the surface temperature, reduced the length of the growing season, and led to a severe harvest failure during summer and winter of 1816 in Europe and northeastern states of America. US decennial census 1850 provides evidence that cohorts in utero during the climate anomaly revealed lower literacy rates, lower labor force participation rates, a fewer number of own …

Organizational Structure And Pricing: Evidence From A Large U.S. Airline, Ali Hortaçsu, Olivia R. Natan, Hayden Parsley, Timothy Schwieg, Kevin R. Williams

Cowles Foundation Discussion Papers

Firms often involve multiple departments for critical decisions that may result in coordination failures. Using data from a large U.S. airline, we document the presence of important pricing biases that differ significantly from dynamically optimal profit maximization. However, these biases can be rationalized as a “second-best” after accounting for department decision rights. We show that assuming prices are generated through profit maximization biases demand estimates and that second-best prices can persist, even under improvements to pricing algorithm inputs. Our results suggest caution in abstracting from organizational structure and drawing inferences from firms’ pricing decisions alone.

Coresets For Regressions With Panel Data, Lingxiao Huang, K. Sudhir, Nisheeth Vishnoi

Cowles Foundation Discussion Papers

This paper introduces the problem of coresets for regression problems to panel data settings. We first define coresets for several variants of regression problems with panel data and then present efficient algorithms to construct coresets of size that depend polynomially on 1/ε (where ε is the error parameter) and the number of regression parameters – independent of the number of individuals in the panel data or the time units each individual is observed for. Our approach is based on the Feldman-Langberg framework in which a key step is to upper bound the “total sensitivity” that is roughly the sum of …