Economics Commons^™

Non-Profits And Living Wages, Jack Buckley

School of Professional and Continuing Studies Nonprofit Studies Capstone Projects

Non-Profit organizations must find ways to divide their budgets between staff wages and program services, as well as paying their staff a living wage. Unlike for-profits who can increase prices for consumers when they need to increase staff wages, non-profits do not have this luxury. The goal of this project was to collect data on how non-profits manage their budgets and if they provide staff with living wages. A survey was sent out with a total of eight responses, giving a breakdown of various non-profit’s budgets and if they pay a living wage. Overall, seven out of eight non-profits pay …

Labor Trends In Nuclear Energy And Developmental Obstacles In Nuclear Energy, Ryan D. Greensfelder

Honors Theses

The idiosyncrasies that exist in the United States independent system operator’s structure poses many unique challenges to wholesale energy markets. The array of energy production solutions is one of these challenges to understanding energy markets. Numerous tools have been used to measure the quantitative complexity of energy markets. Few tools and indices exist to track macroeconomic fluctuations in US employment and wage for United States relative to the cost of energy delivery. In modelling the derived labor demand for energy employment, we should be better able to explain markets and allow for predictions in fluctuations in the labor market. This …

Job Diversity And Its Impact On Intergenerational Mobility At The County Level, Derek Olson

Honors Theses

This thesis focuses on whether or not the diversity in industries within a county has an impact on the income mobility of children within that county. Data come from the Bureau of Labor Statistics to construct variables measuring job diversity and the degree of industry specialization of a county. Building on Chetty (2017a, 2017b), I find that for children with parents at the 25th percentile of the national income distribution, a one standard deviation increase in a county being less diverse in the presence of industries increases a child’s expected rank in the national income distribution by 2.19% while a …

Payday Lending: Reforming This Predatory Practice In Minnesota, Courtney Colton, Karmy Luker, Addy Haarstad-Mead, Sarah Turpen

Master of Social Work Student Policy Advocacy Briefs

Payday lending is a service that was intended to provide emergency financial relief to those who cannot afford an unexpected expense. However, 7 out of 10 borrowers use loans to cover monthly living expenses such as rent, utilities, and maintaining food security. With steep annual percentage rates averaging 391% and subsequent repeat borrowing, communities targeted by predatory lending companies fall deeper into the cycle of debt. Minnesota must reform their policies surrounding payday lending implementing legislative changes to protect Minnesotans who rely on payday loans and invest in long-term solutions that eliminate the need for a payday loan.

Recessionary Effects On Transfer Fees In European Professional Football, Pierce Snyder

Honors Theses

Association football, most commonly referred to internationally as football, is the world’s most popular sport with billions of fans. Professional football leagues operate in countries all over the globe. While other continents have prominent and successful teams, Europe is the sport’s summit for the club level of competition. Europe boasts the best five leagues in the world, commonly referred to as “the big five”: the Bundesliga (Germany), La Liga (Spain), Ligue 1 (France), Premier League (England), and Serie A (Italy). In the 2016-2017 season, these five leagues accounted for 12.6 billion pounds—57.5 percent—of European football’s revenues of about 21.9 billion …

Overconfidence And Welfare In A Differentiated Duopoly, Jean-Baptiste Tondji

School of Economics and Finance Faculty Publications

We examine whether owners' decisions to delegate corporate responsibilities to overconfident managers improve welfare. We develop a dynamic model with product differentiation, where firms compete in cost-reducing research and development (R&D) and output. Before firms compete, each owner makes a strategic decision whether to hire an overconfident manager. The results reveal that when R&D technology is less productive, owners hire overconfident managers who overinvest in cost-reducing R&D. These strategic decisions improve welfare when spillovers are small and R&D productivity is low, or spillovers are large, or product differentiation is strong.

Mexico Consensus Economic Forecast, Volume 25, Number 2, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Essays On Socioeconomic Shocks And Policies In Agriculture, Wilman Iglesias

Department of Agricultural Economics: Dissertations, Theses, and Student Research

The three chapters of this doctoral dissertation estimate the responses of agricultural productivity, production value of agriculture, and crop supply to some external shocks and policies. Using unique panel datasets for Colombia and the United States, this research provides new insights regarding the responsiveness of agriculture to some socioeconomic effects and related market policies. Chapter 1 studies the impact of armed conflicts in rural areas on legal agricultural productivity in Colombia by using a production function that includes violence shocks such as the forced intra-national displacement of the rural population from 1995 to 2017. Chapter 2 investigates the effect of …

Promoting Sustainable Responses To The Us Opioid Epidemic With Community-Academic Partnerships: Qualitative Outcomes From A Statewide Program, David L. Driscoll, Alison Evans Cuellar, Vinod Agarwal, Debra Jones, Kathy Hosig, Mary Beth Dunkenberger

Economics Faculty Publications

Background: Drug overdose deaths in the United States have continued to increase at an alarming rate. The United States is facing two devastating public health crises– the opioid epidemic and the COVID-19 pandemic. Within this context, one of the most ambitious implementation studies in addiction research is moving forward. Launched in May 2019, the HEALing Communities Study (HCS) was developed by the National Institutes of Health (NIH) and the Substance Abuse and Mental Health Services Administration (SAMHSA) as part of the Helping to End Addiction Long-termSM Initiative (National Institutes of Health, 2020). The goal for this research was to reduce …

Economic Costs Of Judicial (In)Actions : Part Ii, Ishrat Husain Dr.

Faculty Research - Newspaper and Magazine Articles

Huge amounts of money has also been invested by aspiring middle class families in purchasing plots of land, booking apartments and renting dwellings. Due to the absence of a weak and fragmented regulatory framework and prevailing corrupt practices in land allocation, utilization, conversion and registration, a large number of irregular and illegal housing cooperative societies have sprung up throughout the country taking over fertile agriculture land and also sucking in billions of savings of middle class aspirants for getting decent housing. Many of these societies have left incomplete structures and buildings not fit for occupation while legal proceedings are held …

Central Bank Swap Arrangements In The Covid-19 Crisis, Joshua Aizenman, Hiro Ito, Gurnain Kaur Pasricha

Economics Faculty Publications and Presentations

Facing acute strains in the offshore dollar funding markets during the COVID-19 crisis, the Federal Reserve (Fed) provided US dollar liquidity to the global economy by reactivating or enhancing swap arrangements with other central banks and establishing a new repo facility for financial institutions and monetary authorities (FIMA). This paper assesses motivations for the Fed liquidity lines, and the effects and spillovers of US dollar auctions by central banks using these lines. We find that the access to the Fed liquidity arrangements was driven by the recipient economies’ close financial and trade ties with the US. Access to dollar liquidity …

Borderplex Business Barometer, Volume 6, Number 4, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Las Cruces Housing Price Dynamics: 1971-2019, Steven L. Fullerton, Thomas M. Fullerton Jr.

Border Region Modeling Project

To examine housing price dynamics for Las Cruces, New Mexico, a theoretical model is developed that takes into account the supply and demand sides. The ARDL estimation methodology employed allows for more realistic market dynamics than prior studies of this residential real estate market, the second largest in New Mexico. A slightly larger sample size is also utilized. Results obtained corroborate evidence reported in several previous housing studies. Some unexpected outcomes also indicate that consistently reliable interlinkages between housing prices and explanatory variables may be elusive. Among the latter, an inverse relationship between apartment rents and single-family housing prices is …

Short-Term Household Economic Stress Effects On Retail Sales In El Paso: 2002-2019, Thomas M. Fullerton Jr., Patricia Arellano-Olague

Border Region Modeling Project

Economic stress indices are beginning to be developed as gauges of business cycle conditions for regional economies. Although the popularity of these metrics is increasing, there have been only a small number of studies that analyze the effectiveness of these tools for monitoring regional economic developments. This effort employs data for one such index that is maintained by The University of Texas at El Paso Border Region Modeling Project. The sample period covers December 2002 through March 2019. Specific components of the index include inflation, unemployment, and housing prices. Estimation results indicate that the effects of any changes in economic …

Essays On Information Diffusion And Stock Market Efficiency & Analyst Style, Zuben Jin

Dissertations and Theses Collection (Open Access)

The dissertation consists of three chapters on information diffusion and stock market efficiency and analyst style. The first chapter examines the asset pricing implications of investors’ inattention to non-obvious firm relatedness hidden in earnings calls. This chapter documents that the overlap in attention allocation over various business aspects serves as a time-sensitive proxy for firm relatedness. By employing the unsupervised topic modelling methodology, I characterize the attention allocation of earnings conference call participants (executives, investors and analysts) over topics discussed. I construct a novel cross-firm topic similarity measure that captures difficultto-observe and time-varying firm relatedness compared with existing peer-firm classification …

Information Acquisition And Market Friction, Bo Sang

Dissertations and Theses Collection (Open Access)

My dissertation consists of three papers related to information diversity, acquisition, and asymmetry. One part of the dissertation explores the implications of interactions among different market participants and subsequent price efficiency in the stock market. The empirical findings indicate the information diversity between individuals and institutional investors, as well as an important channel for retail investors to obtain useful information – through insider filings. The remaining part investigates the information asymmetry between issuers and naive investors in the cryptocurrency market. In Chapter 2, I aggregate trading signals from hedge funds and retail investors, in order to examine their information diversity …

Did The Clean Air Act Improve Environmental Justice Disparities?, Jared Jageler

Economics Honors Projects

This paper analyzes the differential impacts of the 1990 Clean Air Act Amendments (CAAA) on the racial pollution exposure gap, also known as the Environmental Justice (EJ) gap. Using recently developed, Census tract-level satellite data of PM2.5 pollution, I test whether CAAA non-attainment status and resulting State Implementation Plans decreased pollution in high-percentage Black and Hispanic areas more than in non-high percentage Black and Hispanic tracts. My results confirm that the CAAA reduced overall pollution concentrations in the U.S. and decreased the absolute level of the Environmental Justice gap. A heterogeneity analysis provides evidence that the results are primarily driven …

Vocational Rehabilitation And Labor Market Outcomes: Evidence From World War I Veterans, Ethan Schmick

Economics Faculty Research and Publications

This article uses a linked sample of World War I Army veterans from the state of Missouri to study the impact of vocational rehabilitation on labor market outcomes for men wounded and disabled during the war. Veterans’ military service abstracts are linked to the 1940 US Census and a subset are linked to rehabilitation records. This creates a new dataset that contains information on military service, rehabilitation, and labor market outcomes. I find that 70 percent of veterans that were both wounded in action and disabled when discharged from the army participated in the rehabilitation program. These same veterans had …

“La Ultra Periferia De Un País Periférico”: La Política Estratégica Litífera En Jujuy: Los Objetivos, Los Instrumentos, Y Los Desafíos / The Ultra Periphery Of A Periphery Country: The Strategic Policy Towards Lithium In Jujuy: The Objectives, The Instruments, And The Challenges, Max Kaye

Independent Study Project (ISP) Collection

La transición energética hizo cobrar nueva importancia a los yacimientos metalíferos y no metalíferos y generó un nuevo patrón de demanda, especialmente para el caso del litio. Los actores importantes en la cadena de valor de las baterías de ion-litio intensificaron su control sobre cada etapa de sus negocios, y las políticas de los países abundantes en litio son cruciales para determinar cómo afecta a sus territorios esta carrera por el litio. Jujuy, una provincia que podría considerarse periférica de la Argentina, declaró el litio como un recurso estratégico en 2011. La provincia creó ciertos instrumentos para ejercer mayor control …

A Comparative Analysis Of Migrant Health Policies And Practices In The Us And Switzerland, Rebecca Mak

Independent Study Project (ISP) Collection

Migrants compose a large proportion of the population in both the US and Switzerland. The social vulnerability of migrants has been well-established in literature, but few studies have attempted to compare healthcare policies and approaches that most effectively support migrant health using multiple measures.

To fill this gap in the literature, this study will comparatively analyze of the efficacy of US and Switzerland migrant health policies and services by assessing access to and quality of care for migrants in each country. Four main features of healthcare systems were analyzed: insurance policy, healthcare utilization, NCD outcomes, and patient perceptions of care. …

The Power Of The Middle Class In The United States And China, Sarah Kent

Independent Study Project (ISP) Collection

The global middle class has been experiencing exponential growth, but because of differences among countries in regard to stages of development, the growth has not been spread evenly across the world. The United States and much of the Western World is undergoing a shrinking middle class due to economic deregulation and automation whereas China and other countries in the Eastern World have had middle class growth in recent years (OECD, 2019). The juxtaposition between the middle classes is also reflected in the juxtaposition of the respective countries’ GDP growth. Therefore, the United States and China, because of their pronounced systemic …

Seeking Independence A Second Time: Fdi In Uganda’S Development, Halle Jones

Independent Study Project (ISP) Collection

This paper aims to examine the characteristics of foreign direct investment in Uganda and its impacts on development. The paper will look at the current neoliberal paradigm in the international political economy and its role in the developing world.

A practicum-based internship with the Southern and Eastern Africa Trade Information and Negotiations Institute Uganda (SEATINI) guided independent research and provided information through interviews with various organizations and government ministries.

This paper found that neoliberal policies limit development opportunities of FDI. Examples of successful economic growth in various countries provide significant evidence of the importance of government intervention and strategic development …

Three Essays In Behavioral Economics, Foteini Tzachrista

Theses and Dissertations

This dissertation includes three essays on behavioral economics with applications in health, strategic thinking, and labor.In the first essay titled ``The Effect of Nudging on the Utilization of Counseling Services and the Implications on College Student Involvement'', I examine the effect of nudging on the utilization of mental health services and the impact on college student involvement. To improve the utilization of mental health services for college students I designed and implemented an intervention promoting a pro-counseling social norm on campus. More specifically I sent campus-wide emails to inform students of the mental health services offered on campus. Randomly selected …

Who Withdraws First? Line Formation During Bank Runs, Hubert János Kiss, Ismael Rodriguez-Lara, Alfonso Rosa-Garcia

ESI Working Papers

We study how lines form in front of banks. In our model, depositors choose first the level of effort to arrive early at the bank and then whether or not to withdraw their deposit. We argue that the informational environment (i.e., the possibility of observing the action of others) affects the emergence of bank runs and should, therefore, influence the line formation. We test this prediction experimentally. While the informational environment has no effect on the line formation when we look at the average level of effort, our findings suggest that the reasons to arrive early at the bank varies …

International Financial Assistance And Inequality In Emerging Markets: Colombia, Egypt And Turkey, Sara Farag

Theses and Dissertations

This research study investigates the effects of the three main pillars of structural adjustment policies imbedded in IFI funding facilities on income inequality in three specific cases; Colombia, Egypt and Turkey to uncover if income inequality present in those emerging markets is attributed to; the policy reforms conditionality or to pre-existent country features. The three main pillars of policy conditions discussed in this thesis are 1. Government Expenditure Reforms, 2. External Sector Reforms, and 3. Financial Sector Reforms. My hypothesis is that, although pre-existent country features may have had an impact on the levels of inequality a populace faces, the …

The Gatt/Wto Welfare Effects: 1950–2015, Pao-Li Chang, Wei Jin, Kefang Yao

Research Collection School Of Economics

This paper evaluates the welfare effects of GATT/WTO-induced reductions in tariffs, vari-able and fixed trade costs, based on identified direct effects of membership indicators on trade flows via nonparametric matching estimations. The identification does not require the use of tariff data, which permits a comprehensive evaluation of the welfare impact of GATT/WTO for a long panel since its inception (1950–2015) of as many as 180 economies. The results indicate substantial (but highly dispersed) welfare gains across members of different development stages and increasing welfare losses of nonmembers in later decades by staying outside the system. An extensive set of robustness …

Investor Sentiment And Paradigm Shifts In Equity Premium Forecasting, Liya Chu, Kai Li, Tony Xue-Zhong He, Jun Tu

Research Collection Lee Kong Chian School Of Business

This study investigates the impact of investor sentiment on excess equity return forecasting. A high (low) investor sentiment may weaken the connection between fundamental economic (behavioral-based non-fundamental) predictors and market returns. We find that although fundamental variables can be strong predictors when sentiment is low, they tend to lose their predictive power when investor sentiment is high. Non-fundamental predictors perform well during high-sentiment periods while their predictive ability deteriorates when investor sentiment is low. These paradigm shifts in equity return forecasting provide a key to understanding and resolving the lack of predictive power for both fundamental and non-fundamental variables debated …

Why Commonality Persists?, Chyng Wen Tee, Raja Velu, Zhaoque Zhou

Research Collection Lee Kong Chian School Of Business

We show that order flows do not exhibit predictive power on asset returns, and their relationships have been static over time. We use a reduced-rank regression formulation to model both returns and the order flows as endogenous variables, and use investors' sentiment and attention as exogenous factors. We provide empiricalevidence to demonstrate that cross-sectional commonality in attention (sentiment) is linearly (nonlinearly) associated with both returns and order flows at the intraday level, while the sentiment and attentionmeasures themselves exhibit a nonlinear mutual relationship, thus revealing the multi-dimensional aspect of the commonality relationship.

Housing Wealth Shocks, Home Equity Withdrawal, And The Claiming Of Social Security Retirement Benefits, Naqun Huang, Li Jing, Amanda Ross

Research Collection School Of Economics

This paper examines the impact of changes in house prices on when eligible individuals start receiving Social Security benefits. If house prices increase, financially constrained households may draw upon the additional home equity to finance expenses and delay receipt of Social Security in order to have increased lifetime monthly benefits. To address concerns that house price changes are correlated with unobserved local demand shocks, we use a control function approach and employ two different instrumental variables. We find that individuals delay Social Security claiming when house prices increase during the housing boom. The probability of claiming within two years after …

The Grid Bootstrap For Continuous Time Models, Yiu Lim Lui, Weilin Xiao, Jun Yu

Research Collection School Of Economics

This article proposes the new grid bootstrap to construct confidence intervals (CI) for the persistence parameter in a class of continuous-time models. It is different from the standard grid bootstrap of Hansen in dealing with the initial condition. The asymptotic validity of the CI is discussed under the in-fill scheme. The modified grid bootstrap leads to uniform inferences on the persistence parameter. Its improvement over in-fill asymptotics is achieved by expanding the coefficient-based statistic around its in-fill asymptotic distribution that is non-pivotal and depends on the initial condition. Monte Carlo studies show that the modified grid bootstrap performs better than …