Economics Commons^™

Rent Control In California: Policy Review, Brian J. Asquith, Shane M. Reed

Reports

The largest number of housing units subject to rent control can be found in California, but the policy environment is quite complex and is characterized by a series of interacting state and local laws. This complexity represents a significant barrier for researchers and policymakers seeking a clear and accurate picture of how rent control works in California, and how it incentivizes different behaviors among landlords and tenants alike. This technical report surveys rent control rules in California, with special attention paid to the recent statewide rent caps, historic developments, and the systems in Los Angeles and San Francisco. This report …

A Literature Review On The Issue Of Comparing And Contrasting The Fed’S Actions In Response To Covid-19 And The Great Recession, Julian Meyerstrom

Undergraduate Research Symposium

As researchers and economists begin to evaluate and study the effect that the 2020 Covid-19 pandemic has had on the world and its financial institutions, many have focused exclusively on the pandemic and the unique impacts that a global shutdown has had. Economic events of this scale rarely occur, therefore when one does occur it is important to understand what happened and how the economic institutions reacted. The last great economic event to require direct involvement from the FED was the Great Recession in 2008. In most ways these two events are wholly distinct, happening for different reasons and impacting …

Sources Of Covid-19 Information Seeking And Their Associations With Self-Perceived Mental Health Among Canadians, Yanli Li

Library Publications

Using two datasets from the Canadian Perspectives Survey Series (CPSS), this study provides a longitudinal analysis of information sources Canadians consulted regarding COVID-19 and their associations with poor self-perceived mental health (SPMH) during March and July 2020. Nearly 20% of Canadians who were surveyed reported poor SPMH. The logistic regression results revealed that at Time 2 (July 2020), after controlling for demographic, socio-economic, and psychobehavioural factors, using social media was significantly associated with higher odds of poor SPMH than using six other information sources including news outlets, federal health agencies, provincial health agencies, provincial daily announcements, places of employment, and …

Cbe Waves Newsletter: September 2021, Various

Newsletters

• Ocean Climate Action and the New Blue Economy: Video from Session #4 of the 5th International Symposium on Ocean Accounts
• Ocean Climate Action Lobby Day follow up & legislative developments
• Recent publications by Center for the Blue Economy Staff and Affiliates
• Using Virtual Reality in Sea Level Rise Planning and Community Engagement
• The 2021 Center for the Blue Economy Fellows
• The Center for the Blue Economy Speaker Series
• Youth for Ocean Climate Action

A Dichotomy Of Sport Sponsorships: Does The Nature Of Competition Among Sponsors Matter?, Thomas Doellman, Brian Walkup, Adrien Bouchet, Brian Chabowski

Faculty Publications

In this paper, we argue that the firm value implications of sport sponsorships for sponsors may depend on the competitive environment during the bidding process for different types of sponsorships. More specifically, we contend that the bidding environment for professional football (soccer) kit sponsorships represents a form of common value auction, while the bidding environment for corporate logo sponsorships on teams’ shirts does not. As common value auctions are prone to winner’s curse, the firm value implications should be different for kit sponsorship announcements than for shirt sponsorship announcements. Our results suggest that shareholders indeed perceive the value derived from …

Does The Belt And Road Initiative Promote Bilateral Political Relations?, Yue Lu, Wei Gu, Ka Zeng

Political Science Faculty Publications and Presentations

This paper examines the role of the Belt and Road Initiative (BRI) in enhancing political relations between China and its partner countries. We postulate that an international economic cooperation scheme such as the BRI may facilitate commercial exchanges and increase the participating countries’ economic gains. This should generate incentives for these countries to avoid political tensions that may jeopardize mutually beneficial economic exchanges, and to expand the constellation of domestic coalitions in support of cordial diplomatic and political relations. We test the effect of the BRI on bilateral political relations using data on political relations between China and 91 countries …

Nopal En La Frente: Racial Passing And The Hidden Indigeneity Of The Los Altos Region Of Jalisco, 1720-1950, Brandon Manuel Márquez

History

When people look at Los Altos de Jalisco, they typically think of this area as representing a pocket of European ancestry in a mestizaje state. Yet this ignores one huge aspect of this region: its indigenous history. Throughout the last three hundred years, the Los Altos region of Jalisco has allowed for the racial passing of many different families. This is all the more significant because many of its citizens have what many believe to be European features- mainly being light hair, light skin, and colored eyes. Because of these perceived European features, many of the Alteños believe that they …

Are User Fees In Health Care Always Evil? Evidence From Family Planning, Maternal, And Child Health Services, Amira El-Shal, Patricia Cubi-Molla, Mireia Jofre-Bonet

Topics in Middle Eastern and North African Economies

The effect of introducing or increasing user fees in low- and middle-income countries is controversial. While user fees are advocated as an effective means of generating revenue and enabling the quality improvement of health services, they are a financial barrier to access health services for the poorer. This paper contributes to the literature on the demand-side financing in health by providing evidence on the medium-term effects of introducing user fees on the utilization of family planning, antenatal and delivery care services, women’s access to health care, and child health status in a middle-income country setting. Using difference-indifferences models with fixed …

Shooting Down Trade, Uğur Aytun, Cem Özgüzel

Topics in Middle Eastern and North African Economies

On 24 November 2015, Turkish military shot down a Russian fighter jet near the SyrianTurkey border after it violated Turkish airspace for about 17 seconds. Russia retaliated by imposing an embargo on 17 agricultural HS-6 level products from Turkey that would be effective for 22 months. We exploit this natural experiment to evaluate the impact of sanctions on Turkish exports and exporters. Using restrictive customs and firm-level data in a triple difference framework, we estimate the effect of these sanctions on the exports towards Russia, for embargoed and non-embargoed products. We estimate a total trade loss of $3.25bn for Turkish …

Beyond The Digital Dividends: Fintect And Extreme Poverty In The Middle East And Africa, Noha Emara, Mahmoud Mohieldin

Topics in Middle Eastern and North African Economies

This study analyzes the impact of the proliferation of Financial Technology (FinTech) on the achievability of the Sustainable Development Goals (SDGs) with respect to extreme poverty by 2030. The study uses system General Method of Moments (GMM) dynamic panel estimation methodology on annual data for 12 MENA and 45 SSA countries in addition to 70 emerging markets and developing economies from outside the two regions over the period from 2004 until the latest available data in 2018. Three different measures characterize FinTech adoption: the number of mobile cellular subscriptions per 100 people, the number of fixed broadband subscriptions per 100 …

Political Consensus, Economic Reforms, And Democratic Transitions: Evidence From Voting Tunisian Reform Bills, Nizar Jouini, Manel Ben Akal

Topics in Middle Eastern and North African Economies

This study investigates the role of political consensus in accelerating economic reforms. We examine the role of unregular political mechanisms represented by the political consensus in correcting regular political institutions. In particular, we analyze the success or failure of accelerating a reform vote in the parliament to identify the causal effect of the consensus. Using a novel and original database of reforms between 2012 and 2019 in Tunisia, we compare economic and social reforms to political reforms before and after the consensus. We find a significant negative effect of consensus on the probability to accelerate reform votes. Additionally, consensus is …

Dynamic Analysis Of Money Supply, Unemployment And Inflation Rate In The Us, Guangyu Wang

Dissertations and Theses Collection (Open Access)

Price stability is not only an important indicator of the healthy and stability of macro-economy, but also one of the goals of macroeconomic policy. There are many factors affecting inflation. Different monetary policy instruments, such as money supply, liquidity and market expectations, have different effects on inflation. Meanwhile, monetary policy goals, such as inflation rate, employment rate and economic growth rate, also affect each other.

This paper provides an empirical study of money supply, inflation and unemployment in the US economy. Based on the existing theoretical and empirical analysis, this paper selects different research models and new data dimensions to …

Employee Satisfaction And Stock Returns During The Covid-19 Pandemic, Mary J. Becker, Alexander Cardazzi, Zachary Mcgurk

Economics Faculty Working Papers Series

The COVID-19 Pandemic has had an unprecedented impact on how employees and employers operate. Employees, directly affected by workplace changes, may provide information regarding future efficiencies. As a result, crowdsourced employee satisfaction (ES) reviews mentioning the COVID-19 Pandemic may contain useful information regarding the future profitability of these firms. We utilize crowdsourced COVID-19 Pandemic specific ES obtained from Glassdoor.com to determine the impact on abnormal stock returns for public firms from March-December 2020. We find evidence that higher COVID-19 ES is related to higher abnormal stock returns. While non-COVID ES is found not to be related to abnormal stock returns.

“Why Can’T You Sit Still?”: The Effect Of Daily Physical Activity On Childhood Inattention/Hyperactivity And The Educational Gender Gap, Kelly Chen, Shelley Phipps

Economics Faculty Publications and Presentations

Despite the compelling evidence of the long-run consequences of childhood inattention/hyperactivity and harmful side effects of stimulant medication, relatively little is known about accessible non-pharmacological options to reduce inattentive/hyperactive behaviours. This study evaluates the effect of daily exercise on inattentive/hyperactive behaviours among young children by leveraging evidence from a quasi-experiment generated when 3 Canadian provinces adopted mandatory requirements for all students in grades 1 through 6 to participate in 20–30 min of daily physical activity at school between 1994 and 2009. By exploiting plausibly exogenous variations in the timing of implementation and duration of physical activity mandated as well as …

Asymmetric Trade Flows, Monetary And Business Cycle Asynchronization Among Ecowas Member Countries: Feasibility Of Ecowas Monetary Union Formation Beyond 2020, Joseph Okwori, Walter O. Ugwuoke

Bullion

The formation of the West African Monetary Union which was initially slated for 2003 was postponed severally in 2005, 2009, 2015 and 2020. This raises the curiosity of investigating the possibility of its formation beyond 2020. It is against this backdrop that this paper investigated asymmetric trade flows, monetary policy and business cycle asynchronization among ECOWAS member countries: Feasibility of ECOWAS Monetary union formation beyond 2020. The objective was addressed using Pearson correlation analysis on computed zscores and the seemingly unrelated regression estimation (SURE). The finding shows that the flow of trade within ECOWAS member countries were highly asymmetric indicating …

Fluctuations Of Macroeconomic Variables And Manufacturing Output: Issues, Challenges And Prospects Of The Growth Of Manufacturing Output In Nigeria, Chris Ac-Ogbonna

Bullion

The study examined the impact of fluctuations of macroeconomic variables such as exchange rate, lending rates and inflation rates on the manufacturing output in Nigeria. The paper used descriptive analysis to investigate the relationship between manufacturing output and macroeconomic stability in Nigeria. The findings revealed that macroeconomic instability impacted negatively on the manufacturing output. The paper therefore recommended that policies that will streamline the multiple and volatile exchange rates, interest rate and inflation control should be designed and implemented to ensure their predictability to aid planning and attract both domestic and foreign investors to the, manufacturing sector. This is expected …

External Sector Liberalization And Output Growth In Nigeria, Emmanuel A. Onwioduokit, Obong E. Effiong

Bullion

The paper investigates the impact of external sector liberalization (foreign direct investment, external debt stock, trade openness and exchange rate) on the output growth in Nigeria from the period 1981 to 2019, utilizing correlation analysis, Granger causality test and vector autoregression (VAR). The results indicate that foreign direct investment, external debt stock, trade openness and exchange rate all correlate positively with gross domestic product. Also, the granger causality test indicates that foreign direct investment, trade openness and exchange rate granger cause the output growth in Nigeria. From the VAR result foreign direct investment exerted positive and significant impact on the …

Racial And Gender Discrimination Predict Mental Health Outcomes Among Healthcare Workers Beyond Pandemic-Related Stressors: Findings From A Cross-Sectional Survey, Rachel Hennein, Jessica Bonumwezi, Max Jordan Nguemeni Tiako, Petty Tineo, Sarah R. Lowe

Department of Psychology Faculty Scholarship and Creative Works

Racial and gender discrimination are risk factors for adverse mental health outcomes in the general population; however, the effects of discrimination on the mental health of healthcare workers needs to be further explored, especially in relation to competing stressors. Thus, we administered a survey to healthcare workers to investigate the associations between perceived racial and gender discrimination and symptoms of depression, anxiety, posttraumatic stress, and burnout during a period of substantial stressors related to the COVID-19 pandemic and a national racial reckoning. We used multivariable linear regression models, which controlled for demographics and pandemic-related stressors. Of the 997 participants (Mean …

Pass-Through Effects Of Standing Facilities On Bank Interest Rates In Nigeria, Victor Ezeora Eleam, Chinyelu Gloria Ekwom, Chibueze Charles Ariolu, Chukwubuzo Jackson Umebali, Adewale Timothy Balogun

Economic and Financial Review

The paper investigates the pattern of pass-through effects of standing facilities rates on commercial bank retail interest rates in Nigeria. Monthly data spanning 2007:06 to 2019:12 and the Gregory-Hansen cointegration method that accounts for structural breaks are used in the empirical analysis. The adjustment parameters for the standing deposit and lending facilities are found to be significant, but with a low speed of adjustment. This provides some evidence on the nature of the interest rate channel of monetary policy transmission in the country. Furthermore, the study could not confirm asymmetry in the adjustment of retail rates to their long-run equilibria. …

Paso Del Norte Economic Indicator Review, September, Hunt Institute For Global Competitiveness

Technical Reports

No abstract provided.

Contemporary Issues In Nigeria's External Debt And Implications For National Sovereignty, Umar E. Mahmud, Yusuf A. Ogwuzebe

Bullion

The imperative of public borrowing to finance development, combat natural or artificial disasters, and for other reasons is incontrovertible. The diverse traumatic experience of debt-victim nations: Spain, Mexico, Egypt, Venezuela, et cetera, which narrowly escaped total loss of national sovereignty to foreign lenders, due to debt-induced bankruptcy, have been xr-ayed by literature: Magaji (2000) and Bature (2015), among others. The objectives of this paper are to examine the situation of Nigeria, vis-à-vis the nations which travelled the path of Nigeria's current adventure; and to proffer policy antidotes for averting the highly probable cataclysm which unsustainable external debt might precipitate, particularly …

Capital Structure And Political Connections: Evidence From Gcc Banks And The Financial Crisis, Fatma Ahmed, David Macmillan

Economics

Abstract Purpose – This paper investigates the effect of political connections on the capital structure of banks before and after the financial crisis in Gulf Cooperation Council (GCC) countries. Design/methodology/approach – This paper employs the natural experiment that the financial crisis offers and uses a difference-in-differences model to investigate the effect of political connections on capital structure. Capital structure is measured by the total debt to total assets ratio. Control variables include bank size, growth, profitability, coverage ratio and volatility. The research sample includes all the banks in the GCC from 2005 to 2016. Findings – The authors find that …

An Empirical Assessment Of Liquidity Management Instruments In Nigeria, Ezra U. Kure, Shettima T. Zimboh, Damilola O. Okedigba, Itoro U. Ituen

Economic and Financial Review

The paper assesses the response of monetary policy target variables to liquidity management instruments, using a Non-linear Autoregressive Distributed Lag (NARDL) model. The analysis focuses on the short end of liquidity management and provides evidence of long-run asymmetric effects of liquidity management instruments, notably, the monetary policy rate (MPR) and excess reserves of banks on the inter-bank rate. The findings show that the impact of discretionary and autonomous liquidity factors remains symmetric. In addition, the policy target rate is more sensitive to a monetary contraction than accommodation.

Effect Of Public Debt On Private Investment In Nigeria: Evidence From An Asymmetric Dynamic Model, A. B. Abubakar, S. O. Mamman

Economic and Financial Review

This study examines the effect of public debt on private investment in Nigeria. The linear and non-linear ARDL models are employed to analyse the series spanning the period 1981 to 2018. The estimation results show that an increase in total debt, external debt, and debt service payment adversely affects private investment, with the effects being symmetric. On the other hand, the effect of domestic debt on private investment is found to be asymmetric. Although a negative shock in domestic debt greatly improves private investment, a positive shock leads to a meagre positive effect on private investment. This finding indicates that …

Non-Tax Incentives And Agricultural Output In Nigeria, Elias A. Udeaja, Elijah O. Akanni, Emomotimi M. Question, Peter F. Offum, Titoluwa P. Eyinla

Economic and Financial Review

This study investigates the impact of non-tax incentives on agricultural sector output in Nigeria from 1981 to 2019, using Autoregressive Distributed Lag (ARDL) Model/Bounds test technique. The findings of this study show that non-tax incentives have a significant positive impact on agricultural sector output growth in the long-run; however, the effect was negative and statistically insignificant in the short run. On the other hand, government expenditure on agriculture was negative and significant on agricultural sector output growth in the short-run, while its long-run impact was also negative but not significant. Therefore, the study recommends targeted expansion of non-tax incentives to …

Borderplex Business Barometer, Volume 5, Number 9, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Divergent Expectations And Dynamic Price Discovery, Shankar Narayanan

Dissertations, Theses, and Capstone Projects

Purpose: To provide empirical evidence supporting the claim that divergent expectations underlie price formation during the U.S. equity market opening hours. We focus on earnings announcements to support this claim. This dissertation argues that the clarity of earnings announcements and a firm’s balance sheets is inversely associated with the quality of price discovery during the opening hours after the earnings announcements, as ambiguities in information underlie divergence in expectation. We look at short-term volatility during the opening half-hours of U.S. equity markets after the earnings announcements to assess the quality of price discovery. We also consider changes in short-term …

A Political Reciprocity Mechanism, Roland Pongou, Jean-Baptiste Tondji

School of Economics and Finance Faculty Publications

We consider the problem of designing legislative mechanisms that guarantee equilibrium existence, Pareto-efficiency, and inclusiveness. To address this question, we propose a finite-horizon voting procedure that embeds clauses of reciprocity. These clauses grant voters the right to oppose actions that are not in their interest, retract actions that face opposition, and punish harmful actions. We study voters' strategic behavior under this voting procedure using two classical approaches. Following the blocking approach, we introduce two related solution concepts---the reciprocity set and the sophisticated reciprocity set---to predict equilibrium policies. We then show that these solution concepts (1) are always non-empty; (2) only …

Institutions, State Capacity, And Intra-State Conflict: Evidence From A Decade-Long Civil War In Nepal, Nishant Yonzan

Dissertations, Theses, and Capstone Projects

First, while mass armed civil conflicts predominantly occur in weak states, which are states that lack state capacity, it is unclear why not all weak states experience mass armed civil conflict. Second, political stability and highly unequal distribution of resources are opposing forces that are unlikely to coexist together. However, highly unequal societies have existed with relative stability. Indeed, cross-country literature on civil war finds little relationship between conflict and unequal distribution of resources. This dissertation attempts to address these issues using the Civil War in Nepal which lasted from 1996 to 2006.

Institutions are fundamental for the proper functioning …

Essays In Applied Microeconomics, Laxman Timilsina

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters.

Chapter 1: Immigration Policy Shocks and Infant Health

This paper evaluates the effect of positive and negative immigration policy shocks on infant health outcomes in the U.S. I examine changes in mean birth weight and the incidence of low birth weight (LBW) at the metropolitan statistical area (MSA) level around two major institutional shocks: The 1986 Immigration Reform Act (IRCA), which favored immigrants, and the increase in Immigration and Customs Enforcement (ICE) agency arrests at the start of 2017 which might have put immigrants at greater risk of apprehension. It uses a triple …