Economics Commons^™

Learning Efficiency Of Multi-Agent Information Structures, Mira Frick, Ryota Iijima, Yuhta Ishii

Cowles Foundation Discussion Papers

We study which multi-agent information structures are more effective at eliminating both first-order and higher-order uncertainty, and hence at facilitating efficient play in incomplete-information coordination games. We consider a learning setting à la Cripps, Ely, Mailath, and Samuelson (2008) where players have access to many private signal draws from an information structure. First, we characterize the rate at which players achieve approximate common knowledge of the state, based on a simple learning efficiency index. Notably, this coincides with the rate at which players’ first-order uncertainty vanishes, as higher-order uncertainty becomes negligible relative to first-order uncertainty after enough signal draws. Based …

Essays On Medicare Part D Market : Sources Of Welfare Effects And Merger And Acquisition Effects, Yichuan Wang

Legacy Theses & Dissertations (2009 - 2024)

This dissertation contains three essays on the Medicare Part D market in the United States. Three chapters account the benefit of Medicare Part D, analyze how merger and acquisition affect insurance plan’s characteristics and how merger and acquisition affect senior’s health outcomes.The first chapter studies the benefits of Medicare Part D. The Medicare prescription drug program (Part D) launched in 2006. Since then, the stand-alone prescription drug plans (PDPs) available to consumers and their plan characteristics have been evolving. This paper examines how those evolutions affect consumer surplus of Medicare beneficiaries. We estimate a structural demand model of stand-alone PDPs …

The Economic Impact Of Affordable Housing Stock In Kent And Ottawa County, Michigan, Christian Glupker, Laudo Ogura Ph.D., Grand Valley State University

Other Faculty Publications

The Seidman College of Business at Grand Valley State University was retained by Housing Next to perform an economic impact study of affordable housing in the Grand Rapids area. The objectives of this study include:

A. Estimate the average and total housing burden for low-income households by each county.

B. Estimate the changes in different categories of expenditures (food, health care, etc.) due to reduced housing burden.

C. Estimate savings to public health care and food assistance programs due to reduced housing burden.

D. Estimate improvements to health outcomes due to potential increases in spending on health care and food …

From Tasks To Riches: A Task-Based Approach To The Determinants Of Wages, Samantha Baradas, Aileen Co, Brian Daguman, Martha Delos Santos

Angelo King Institute for Economic and Business Studies (AKI)

An empirical investigation of the effects of occupational skills, human capital, and other worker characteristics on labor market outcomes is examined in this study. Using the PSA Labor Force Survey and Philippine Standard Occupational Classification (PSOC), the group offers a task-based measure as a proxy for occupational skills. Such problems in measuring skills arise when skill endowments of workers are underivable in a survey dataset. With this, the analysis includes comparing and contrasting models with task-based measures of occupational skills and Mincerian wage models with occupational dummies. Regression analysis found consistent statistically significant positive returns on a change in computational, …

Government Expenditure And Economic Dimensions: Determinants Of Fiscal Policy, Jay Pee A. Maalihan

Angelo King Institute for Economic and Business Studies (AKI)

Government expenditure is a known tool of fiscal policy. For a fiscal policy to fit the economic needs of a country, nuances regarding government expenditure such as economic dimensions must be considered as determinants of fiscal policy. This study assessed an econometric model of the significance of economic dimensions to government expenditure by utilizing data from 50 countries throughout 1999–2019. Hence, statistical tests and econometric methods such as fixed effects regression are executed to determine objectives of interest. This study contributes to the economic undertakings of various countries to plan and implement their strategic economic directions.

Impact Of Dividend Policy On Share Price Volatility: A Comparative Study Of The Manufacturing Companies Listed In Dhaka Stock Exchange., Jakia Sultana

Open Access Theses & Dissertations

The purpose of this study is to examine the relationship between dividend policy and share price volatility of the manufacturing companies listed on the (DSE) Dhaka Stock Exchange. For this purpose, we select a sample of 35 firms listed in DSE among all the manufacturing sectors for sixteen years (2004-2019). We examine the relationship between share price volatility with two direct measurements of dividend policy (dividend yield and dividend payout) by applying multiple regression for a period of sixteen years from 2004 to 2019. We expand the primary regression model by adding the control variables, including the firm's size, earning …

Covid-19 Outcomes And The Incidence Of Slavery, Amanda Ortega

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

Environmental factors have been shown to correlate with COVID-19 outcomes. This study advances the literature on health economics by examining the importance of socioeconomic factors. In addition to standard economic factors, I consider the relationship between the past incidence of slavery and COVID-19 outcomes. I analyze county-level U.S. Census data and Georgia Department of Public Health county-level COVID-19 data using regression analysis. I find that the Covid-19 county vaccination rate in Georgia is related to 1860 slave concentration. No statistically significant relationship is found between 1860 slave concentration and COVID-19 death rate, case rate, or vaccination rate when health, socioeconomic, …

Borderplex Business Barometer, Volume 5, Number 8, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

The Impact Of Climate Change On The Cost Of Bank Loans, Siamak Javadi, Abdullah Al Masum

School of Economics and Finance Faculty Publications

We find that firms in location with higher exposure to climate risk pay significantly higher spreads on their bank loans. This result is robust to different measures of climate risk. Exploiting the economic link between a firm and its customers, we find that the exposure of a firm’s customers to climate risk adversely affects that firm’s cost of borrowing. In the cross-section, we find that the effect is mainly driven by long-term loans of poorly rated firms that are highly exposed to climate risk. Overall, our evidence suggests a slow increase in lenders’ attention to climate risk and that lenders …

Multinationality And The Value Of Green Innovation, Incheol Kim, Christos Pantzalis, Zhengyi Zhang

School of Economics and Finance Faculty Publications

Highlights

• High exposure to foreign markets with more stringent environmental regulations stimulates MNCs' green patent applications.

• The pursuit of green innovation is positively associated with firm value in the long run.

• This long-run advantage is more significant when MNCs' home countries rely on more clean energy for power generation, have a more developed economy and have a more effective government.

• MNCs' environmental competitive advantage is coupled with exposure to MNCs' host countries with high long-term and femininity orientations.

Abstract

When do multinational corporations (MNCs) derive the most from internalizing the transfer of proprietary technological knowhow? We revisit this question, which …

Tourism And Women Empowerment: Empirical Findings From Past Experience And Predictions For The Post-Covid Era, Burcu Turkcan

University of South Florida (USF) M3 Publishing

Tourism industry is one of the major industries of today’s world and hence it is in the forefront of current national and international policies. Tourism is perceived as one of the fundamental engines of economic growth and development due to the fact that it has many contributions to the economy. Moreover, tourism has a dimension of women empowerment which is one of the critical issues of modern world. Hence, researchers and policymakers have begun to pay more attention to the issue of gender discrimination and tourism relationships. There are some direct linkages between tourism and women empowerment, and what is …

The Nexus Between Fiscal Freedom And Investment Freedom: The Case Of E7 Countries, Mehmet Bolukbas

University of South Florida (USF) M3 Publishing

The idea that there are no restrictions in the economic attitude and behaviour of individuals and firms in the economy is expressed as economic freedoms. Today, the term of economic freedom still does not have a universal concept. However, it is known that there are free market conditions in countries that support economic freedom and the role of the state in the economy is kept at a minimum. There are many criteria for measuring the economic freedom of countries, and fiscal freedom and investment freedom are among the economic freedom criteria. The aim of the study is to analyse the …

Advances In Global Services And Retail Management: Volume 2, Cihan Cobanoglu, Valentina Della Corte

University of South Florida (USF) M3 Publishing

This is the second volume of the Advances in Global Services and Retail Management Book Series. This volume has the following parts:

• Part 1: Hospitality and Tourism
• Part 2: Marketing, E-marketing, and Consumer Behavior
• Part 3: Management
• Part 4: Human Resources Management
• Part 5: Retail Management
• Part 6: Economics
• Part 7: Accounting and Finance
• Part 8: Sustainability and Environmental Issues
• Part 9: Information Technology

ISBN: 978-1-955833-03-5

Hospitality and Tourism

• Significance of VR in the spa: A spatial analysis
  • Irini Lai Fun Tang, Schultz Zhi Bin Xu, and Eric Chan
• Social media marketing in rural hospitality and tourism destination research
  • Samuel …

A Qualitative Study Of Perceptions Of The Residents Of Sidon, Lebanon Regarding The Economic Effect On Sidon With Reference To Repatriation Of The Palestinian Refugees, Raja El Majzoub, Karen Howells

University of South Florida (USF) M3 Publishing

From 1948 onwards, hundreds of thousands of Palestinian refugees settled in Lebanon, in both United Nations camps and private accommodation. Until today, various peace initiatives have taken place to solve this humanitarian crisis, to no avail. The Palestinians in Sidon have integrated into Lebanese society, become intertwined into the community, as both entrepreneurs and employees. Considering the "right of return" for Palestinian refugees, the consequences of the repatriation of the refugees needs to be considered. In this context, this research aims to understand the perceptions of the residents of Sidon on what they believe will happen to the economy of …

Covid-19 Effect On Fdi Motivation And Their Impact On Service Sector: Case Of Georgia, Vakhtang Charaia, Mariam Lashkhi

University of South Florida (USF) M3 Publishing

Based on the Scott-Kennel’s model of local industry upgrade through foreign direct investments, this paper analyses if investments are always positively benefiting the host economy, or if they are not promoting local/host economies at all, or to which exact level. This paper is focused on service sector oriented investments and answers the questions important to analyse for the successful investment policy creation, which could benefit both the local economy and foreign investors. In other words, only aggregated per year foreign investment numbers are not enough for the comprehensive picture creation and in some cases could even suggest incorrect strategic decisions. …

Effect Of Real Exchange Rate And Income On International Tourist Arrivals For Turkey, Erhan Aslanoglu, Oral Erdogan, Yasin E. Aksu

University of South Florida (USF) M3 Publishing

Tourism has been one of the fastest growing sectors in the world economy for decades. It has been the third biggest export item in the world economy. According to World Tourism Organization (UNWTO), total 1.34 billion tourist arrivals has recorded in destinations around the world and total international tourism receipts has reached %10 of World GDP in 2017. By 2030, total number of international tourist arrivals is expected to be 1,8 billion. Beyond its effect on country’s brand value and image, tourism has significant contribution on every host country’s economy. Particularly, international tourism receipts stand as an important foreign exchange …

Optimal Fiscal And Price Stability In Germany: Autoregressive Distributed Lags (Ardl) Cointegration Relationship, Ergin Akalpler, Dahiru A. Birnintsabas

University of South Florida (USF) M3 Publishing

The impact of optimal fiscal policy measures in a managed fixed exchange rate system were questioned in this study, to evaluate the extent of Integrated Monetary and Fiscal Policy issuing quarterly time series data for Germany, for the period ranged between 1991q1 to 2017q4. The study shows that an optimal utilization of fiscal policy measures for economic growth in Germany is questioned in the light of tax revenue, government expenditure and public debt and consumer price index. The Autoregressive Distributed Lag (ARDL) model was employed due to the fact that one of the data parameters becomes stationary at level by …

Struggle With Covid-19 Crisis Within The Scope Of Financial National Security: The Example Of The Republic Of Turkey, Silacan Karakus

University of South Florida (USF) M3 Publishing

The COVID-19 pandemic is a discovered infectious disease in the People's Republic of China. This disease was a transformation to pandemic, when to spread all over the world in a short time, within the research framework. The struggle of the COVID-19 in the scope of financial national security was an analytical issue with example of the Republic Turkey for this study. The initiation of the emergence process of the COVID-19 epidemic in China. The third part is an examination of the spread of the COVID-19 epidemic to the whole world. The evaluated struggle of COVID-19 within the scope of financial …

Houston Is On The Right Side Of The Tracks, Andrew Ryle

Open Access Theses & Dissertations

Houston, Texas has long been plagued by urban and suburban sprawl. Political leadership in Houston has worked hard to improve the economy using several levers available to them. One area the city attempts to improve is that of public transit. The city has developed a large fixed-rail transit system in separate stages since 2004 when the first 7.5 mile stretch of the Harris County Metropolitan Authority fixed light rail, the METRORail, opened. The system has since grown, mostly Eastward, to 22.7 miles and 34 stations, with further expansion planned. I use data on real estate values and property characteristics provided …

Small Commercial And Industrial Electricity Consumption In Las Cruces, New Mexico, Andrew Taylor Yurachek

Open Access Theses & Dissertations

Research examining small commercial and industrial electricity usage patterns have historically received less attention than residential electricity consumption patterns. This study examines electricity as an input to commercial and industrial production in Las Cruces, New Mexico using annual frequency data from 1978 to 2018. Those data examined include labor, per capita personal income, price measures for electricity and natural gas, and weather variables. The long-run and short-run elasticities of the data are then estimated using an autoregressive distributed lag model (ARDL). In the long run, CIS customers in Las Cruces respond to natural gas a complimentary good, and the derived-demand …

Cash Transfers And Temptation Goods: An Analysis On The Impact Of Cash Transfers On Poor Households’ Consumption Of Sugar-Sweetened Beverages In The Philippines, Janelle S. Tiu, Vince Eisen C. Yao

Angelo King Institute for Economic and Business Studies (AKI)

Sugar intake has been increasing globally and locally for individuals. Meanwhile, Philippine institutions continue to provide cash transfers (CTs) to poor households. Past literature found varying results of the impact of transfers on expenditure, consumption, and temptation goods. Most studies focused on alcohol and tobacco consumption and neglected the impact of cash transfers on the consumption of sugar-sweetened beverages (SSBs). Thus, this paper used propensity score matching and average treatment effects on the treated (ATET) evaluation method to compare the consumption of poor households with transfers to their consumption if they had not received cash transfers and determine the characteristics …

“Why Am I The Only One Responsible For The Whole Family?”: Expressions Of Economic Filial Piety And Financial Anxiety Among Female Survivors Of Sex Trafficking In Cambodia, Julia M. Smith-Brake, Lim Vanntheary, Nhanh Channtha

Dignity: A Journal of Analysis of Exploitation and Violence

Filial piety has evolved and spread in different ways throughout Asia, with the common thread of deep respect and gratitude towards one’s parents remaining a very strong cultural value. In Khmer culture, filial piety includes the expectation that daughters and daughters-in-law provide daily assistance to parents and parents-in-law. Financial anxiety includes the worry and negative mental health outcomes associated with financial stressors. This article presents findings from the Butterfly Longitudinal Research Study on themes on filial piety and financial anxiety, combining survey results from across multiple years as well as a thematic analysis of themes from focus group discussions and …

Ciudad Juarez Exchange Rate Sell-Buy Spreads: 2009-2016, Thomas M. Fullerton Jr., Francisco J. Pallares

Border Region Modeling Project

Commercial banks and currency kiosk bureaus provide exchange services throughout Ciudad Juarez, Mexico, a large metropolitan economy located on the border with the United States. This study employs newspaper data to examine how the bank and kiosk sell-buy spreads are affected by fluctuations in the total number of northbound border crossers, variations in bilateral peso per dollar exchange rate, and the yield differential between 90- day Certificados de Tesorería (Mexico CETES) and 90-day U.S. Treasury Bills. The sample is comprised of monthly frequency data from January 2009 through June 2016. Parameter estimation is carried out using a GLS ARMAX procedure. …

Skbi Big 5 Survey 2021 August, Singapore Management University

Sim Kee Boon Institute for Financial Economics

The latest survey results convey an upshift in growth projections of the five largest economies in aggregate accompanied by higher inflation, especially this year and to a lesser extent next year. The aggregate “Big5” median real GDP growth projections for 2021 and 2022 were raised to 6.7% (up in US, CN and EA but down in IN and JP) and 4.9% (all except US), respectively. The overall “Big5” median CPI inflation forecasts were nudged up to 2.6% (higher in US, IN and EA but lower in CN) and 2.4% (in US, IN and EA some), respectively, for this year and …

The Local Labor Market Impacts Of Us Megafires, Benjamin A. Jones, Shana M. Mcdermott

Economics Faculty Research

As we learn to sustainably coexist with wildfire, there is an urgent need to improve our understanding of its multidimensional impacts on society. To this end, we undertake a nationwide study to estimate how megafires (wildfires > 100,000 acres in size) affect US labor market outcomes in communities located within the flame zone. Both year-of-fire and over-time dynamic impacts are studied between 2010−2017. We find that counties located within a megafire flame zone experience significantly lower per capita wage earnings across multiple sources of earnings data for up to two years after megafire event occurrence. We find preliminary evidence that impacts …

Below-Deck: The Specialist Sailor In World War Ii, Gregory Falcon

War, Diplomacy, and Society (MA) Theses

U.S. Navy ships were made up of many unexpected jobs during World War II. Traditional war histories say little about sailors who rarely saw direct combat below active war decks but instead worked skilled jobs. Specialized sailors were often unseen as they worked below the waterline as, for example, electrician’s mates and boiler room firemen. These jobs were pivotal to keeping the ship running and allowed men to make use of their valuable time in the navy. This thesis argues that, although evolving naval culture led men to enter for various reasons, many entered to enhance their future career during …

Heterogeneity In Individual Expectations, Sentiment, And Constant-Gain Learning, Stephen J. Cole, Fabio Milani

Economics Faculty Research and Publications

This paper uses adaptive learning to understand the heterogeneity of individual-level expectations. We exploit individual Survey of Professional Forecasters data on output and inflation forecasts. We endow all forecasters with the same information set that they would have as economic agents in a benchmark New Keynesian model. Forecasters are, however, allowed to differ in the constant gain values that they use to update their beliefs and in their sentiments. The latter are defined as the degrees of excess optimism or pessimism about the economy that cannot be justified by the learning model. Our results highlight the heterogeneity in the gain …

Gender Differences In The Returns To Education Over Time For Married Couples, Nikki Brendemuehl, Nicholas A. Jolly

Economics Faculty Research and Publications

Using US Census data from 1960 to 2000 and American Community Survey data from 2010, this paper analyzes gender differences in the return to education for married couples. Results from this analysis show that the return to schooling has increased over time for both genders; however, the relative return to schooling for females has fallen since the 1990s. In 2010, married women who are under age 35 and are in the top 20 percent of the income distribution had lower returns to schooling compared to men. These results are consistent with several demographic shifts that occurred during the last half …

The Baran Ratio, Investment, And British Economic Growth And Development, Thomas E. Lambert

Faculty and Staff Scholarship

Investment in capital, new technology, and agricultural techniques has not been considered an endeavor worthwhile in a medieval economy because of a lack of strong property rights and no incentive on the part of lords and barons to lend money to or grant rights to peasant farmers. Therefore, the medieval economy and standards of living at that time often have been characterized as non-dynamic and static due to insufficient investment in innovative techniques and technology. Paul Baran’s concept of the economic surplus is applied to investment patterns during the late medieval, mercantile, and early capitalist stages of economic growth in …

Which Financial Measures Can Be Leveraged To Help Close The Unfunded Liability Gap For State Pension Plans?, Selette M. Jemison

Doctoral Dissertations (DBA)

The main purpose of this study is to identify the key determinants of the unfunded liability (UL) for state and local public Defined Benefit (DB) pension plans. The UL is a measure of pension debt in plans across the U.S. This debt continues to rise while pension obligations to current and future retirees must also be satisfied. The UL is derived by subtracting the market value of plan assets from its accrued liabilities. If assets are less than liabilities, it signals a lack of funds set aside to cover all pension benefits and generates what is known as an unfunded …