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2024

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Full-Text Articles in Economics

Mathematical Methods For Economics And Business Syllabus, Marian Melnyk Jul 2024

Mathematical Methods For Economics And Business Syllabus, Marian Melnyk

Open Educational Resources

This syllabus outlines an online asynchronous course introducing essential mathematical tools and techniques in economics. It spans 24 sessions covering Functions, Differentiation, Limits, Integration, and Multivariable Functions, grounded in college algebra and calculus. The course utilizes Open Educational Resources (OER) for all materials, available in text and video formats on Blackboard. Continuous assessment, including quizzes, homework, two 1-hour tests, and a final exam, ensures consistent progress. Weekly online office hours provide additional support. The primary objective is to equip students with the mathematical skills necessary for economic analysis and problem-solving.


The Relationship Between Monetary Policy And The Stock Market Cycle: An Empirical Study In Vietnam, Nhung Thuy Tran Jul 2024

The Relationship Between Monetary Policy And The Stock Market Cycle: An Empirical Study In Vietnam, Nhung Thuy Tran

The Indonesian Capital Market Review

The study examines the relationship between monetary policy and the stock market cycle in Vietnam. Using data from 2007 to 2022 and employing a VAR model, we estimate the impact of monetary policy factors on stock market cycle variables. The findings confirm a two-way causal relationship between monetary policy and the stock market cycle. However, the influence of cyclical fluctuations on the monetary policy transmission mechanism is weak, exhibits a lag, and predominantly occurs in the medium and long term. These results indicate that Vietnam's monetary policy requires time to absorb financial shocks and adjust to economic conditions. The study …


Modal Sosial Keagamaan Dan Partisipasi Perempuan Muslim Indonesia Dalam Perburuhan, Rahma Nida, Yunisvita Yunisvita, Gustriani Gustriani Jul 2024

Modal Sosial Keagamaan Dan Partisipasi Perempuan Muslim Indonesia Dalam Perburuhan, Rahma Nida, Yunisvita Yunisvita, Gustriani Gustriani

Jurnal Ekonomi dan Pembangunan Indonesia

In recent years, the muslim majority countries’ focus on women’s labor force participation has grown, particularly Indonesia which stands out with its high female labor force participation rate. We aim to shed light on the relationship between religion and work decisions in Indonesia, employing data from the World Value Survey and utilizing logistic regression analysis. Our findings reveal that active participation in religious activities positively affects muslim women’s likelihood of working part-time and in the agricultural sector. Through the results, policymakers and relevant stakeholders can consider leveraging religious organizations as potential channels for promoting women’s labor force participation.


The Role Of Social Capital In A Fishing Community’S Adaptation To Climate Change, Endah Saptutyningsih, Romi Bhakti Hartarto, Wanggi Jaung Jul 2024

The Role Of Social Capital In A Fishing Community’S Adaptation To Climate Change, Endah Saptutyningsih, Romi Bhakti Hartarto, Wanggi Jaung

DLSU Business & Economics Review

Climate change threatens the livelihoods of many communities around the world, including fishing communities. Low catches of fish caused by climate change may have devastating impacts on fishing communities, particularly on those poor communities with a lack of preparation for climate change adaptation. This study investigates how social capital influences fishermen’s support for climate change adaptation. We conducted a contingent valuation survey in a fishing community vulnerable to climate change in Lamongan, Indonesia. Our study results reveal that fishermen’s trust in a person and their community involvement played significant roles in their support for climate change adaptation. These study findings …


Price Exuberance And Contagion Across Housing Markets: Evidence From Us Metropolitan Areas, Md Shahedur R. Chowdhury, Damian S. Damianov, Diego Escobari Jul 2024

Price Exuberance And Contagion Across Housing Markets: Evidence From Us Metropolitan Areas, Md Shahedur R. Chowdhury, Damian S. Damianov, Diego Escobari

School of Economics and Finance Faculty Publications

Contagion occurs when cross-market correlation increases because of a shock to one market. Identifying shocks as episodes of house price exuberance, we provide evidence for contagion effects among the largest metropolitan markets in the US. We find that changes in income, interest rates, and unemployment also create contagion effects. These empirical findings are consistent with a model in which shocks to house prices and economic variables relaxes households down payment constraints and increases household mobility and housing demand. These effects are established in an equilibrium framework in which house prices and household choices are determined endogenously, and we account for …


Essays On The Societal Impacts Of Housing Programs And Substance Use Disorder Treatment, Rex W. Sitti Jul 2024

Essays On The Societal Impacts Of Housing Programs And Substance Use Disorder Treatment, Rex W. Sitti

Economics ETDs

I present three essays that contribute to understanding the secondary costs and benefits associated with programs that address homelessness and substance use disorder (SUD) treatment. The first essay investigates whether homeless shelters impact property values. Despite anecdotal claims of property devaluation, endogeneity challenges limit empirical research on homelessness programs. Using data from the Department of Housing (HUD) and Seattle’s King County Department of Assessment, I address these challenges using spatial difference-in-differences methodology, revealing nuanced effects favoring permanent supportive housing. The second essay leverages the Built for Zero program to examine the link between homelessness and crime. Analyzing HUD and crime …


Why Does Multilateral Cooperation Vary Across Issue Areas? Trade Versus Foreign Direct Investment, Imran Khan Jul 2024

Why Does Multilateral Cooperation Vary Across Issue Areas? Trade Versus Foreign Direct Investment, Imran Khan

Graduate Program in International Studies Theses & Dissertations

Why does multilateral cooperation sometimes fail to emerge, even in contexts where multilateral cooperation would be more beneficial for all parties than bilateral cooperation? To explore this puzzle, a generalization of the stag-hunt game is developed. The key finding from the analysis of this “stag-elephant” hunt game is that because pursuing multilateral cooperation is a riskier strategy due to the need for a larger number of players to cooperate to achieve it, multilateral cooperation can fail to emerge even when the payoffs from multilateral cooperation substantially exceed those of bilateral cooperation. To instantiate the central argument, I have selected the …


Two Essays On Asset Prices Around Securities Class Action Lawsuits, Sounak Saha Jul 2024

Two Essays On Asset Prices Around Securities Class Action Lawsuits, Sounak Saha

Theses and Dissertations in Business Administration

Essay 1: Prior studies on securities class action lawsuits have found that there are large negative abnormal returns and an increase in short-selling activity in the days preceding the lawsuit filing. These findings have largely been attributed to anticipatory inference and private information. However, our analysis of a large sample spanning 2009-2019 reveals that more than half of the lawsuits had a public announcement about the law firm investigation in the days leading up to the lawsuit filing. Strikingly, we find that the average cumulative abnormal return during the 10-day pre-filing period was: (1) over -17% for lawsuits with a …


Actions Taken At Firm-Level To Mitigate The Adverse Impacts Of Climate Risk, Deepak G. More Jul 2024

Actions Taken At Firm-Level To Mitigate The Adverse Impacts Of Climate Risk, Deepak G. More

Theses and Dissertations

This dissertation comprises of two essays on actions taken at firm-level to mitigate the adverse impacts of climate risk. Our first essay documents a positive relation between firm-level climate change exposure (CCE) and long-term tax avoidance. Our results suggest that firms use tax avoidance to mitigate the adverse impacts of CCE. The positive effect of CCE on tax avoidance is stronger post the release of Stern Review and weaker after the enactment of the Tax Cuts and Jobs Act, 2017. Our study is the first to show that firms with high CCE use tax avoidance to increase cash holdings as …


Two Essays On Corporate Finance. The Impact Of Ceo Cultural Heritage And Corporate Decision Making, Md Showaib Rahman Sarker Jul 2024

Two Essays On Corporate Finance. The Impact Of Ceo Cultural Heritage And Corporate Decision Making, Md Showaib Rahman Sarker

Theses and Dissertations

This dissertation consists of two essays that investigate the effect of CEOs’ cultural heritage on corporate decision-making. In the first essay, I examine the impact of CEOs’ cultural heritage on corporate social responsibility (CSR). I present empirical evidence that CEOs originating from countries with high power distance, more uncertainty avoidance and long-term orientation have high CSR scores, while those from individualistic and indulgent cultures have low CSR scores. This effect lasts up to three generations before it disappears due to acculturation. These results are robust to using propensity score matching, entropy balancing, and Oster’s test to address endogeneity and selection …


Direct And Indirect Taxes In Pollution Dynamics, Vladimir Smirnyagin, Aleh Tsyvinski, Xi Wu Jul 2024

Direct And Indirect Taxes In Pollution Dynamics, Vladimir Smirnyagin, Aleh Tsyvinski, Xi Wu

Cowles Foundation Discussion Papers

Analyzing the universe of federal environmental regulations in the U.S., we construct a measure of regulations—direct taxes on pollution. Analyzing the universe of firms’ investor disclosures, we construct a measure of material environmental concerns—indirect taxes on pollution. These two empirical measures are new to the environmental regulations literature. Thirdly, we document an important new fact that the cross-sectional distribution of pollution changes is lumpy. We build a dynamic heterogeneous firm model with non-convex adjustment costs that fits the cross-sectional pollution evidence. The model explains half of the pollution decline in U.S. manufacturing over the last two decades due to direct …


Centralized Finance And Decentralized Finance, Leili Pour Rostami Jul 2024

Centralized Finance And Decentralized Finance, Leili Pour Rostami

Theses and Dissertations

This dissertation explores different facets of financial markets, focusing on the interplay between decentralized finance, traditional banking systems, and private market relationship lending. By examining these diverse areas, we aim to provide a comprehensive understanding of how emerging financial instruments and market behaviors interact with traditional financial systems. Decentralized Finance (DeFi) offers an escape from the challenges of centralized finance (CeFi). The first essay explores whether and how returns on DeFi instruments, particularly cryptocurrencies, manage to evade the traditional “rules” in response to exogenous central bank monetary policy shocks. The findings reveal that crypto abnormal returns decline significantly with shocks, …


Borderplex Business Barometer, Volume 8, Number 7, Thomas M. Fullerton Jr., Steven L. Fullerton Jul 2024

Borderplex Business Barometer, Volume 8, Number 7, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.


Mexico Consensus Economic Forecast, Volume 27, Number 3, Thomas M. Fullerton Jr., Steven L. Fullerton Jul 2024

Mexico Consensus Economic Forecast, Volume 27, Number 3, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.


Health Insurance And The Rise Of Women: Evidence From The New Cooperative Medical Scheme, Xingyu Bai Jul 2024

Health Insurance And The Rise Of Women: Evidence From The New Cooperative Medical Scheme, Xingyu Bai

Dissertations and Theses Collection (Open Access)

Females are traditionally viewed as the primary providers of informal parental care in China, especially in rural areas. We investigate whether health insurance coverage in rural China, the New Cooperative Medical Scheme (NCMS), can unleash more female labor force participation by reducing the burden of informal parental care. Employing a heterogeneity-robust difference-in-differences estimation, we find that the NCMS has a significant positive impact on female labor supply, primarily in non-farm occupations. In contrast, we observe no significant changes in male labor supply. We explore the mechanism by showing that the NCMS significantly decreases both the provision and demand for parental …


Effect Of Catastrophic Medical Insurance On Healthcare Service Utilization And Quality, Ruiqi Ding Jul 2024

Effect Of Catastrophic Medical Insurance On Healthcare Service Utilization And Quality, Ruiqi Ding

Dissertations and Theses Collection (Open Access)

China implemented catastrophic medical insurance (CMI) program to provide additional reimbursement for individuals requiring extensive healthcare services due to severe illnesses. This study empirically assesses the impact of the CMI program on the healthcare utilization and quality of care for severely ill patients, using medical insurance claim data from 2012 to 2018 in a capital city in China. The analysis yields the following conclusions: First, CMI decreased the medical expenditure of severe patients, but it had no impact on alleviating the financial burden. Second, CMI curbed abuse and saved medical resources, and in the meantime, it increased the use of …


Essays On Estimating Firm-Level Production Function With Spatial Dependence, Bo Lin Ng Jul 2024

Essays On Estimating Firm-Level Production Function With Spatial Dependence, Bo Lin Ng

Dissertations and Theses Collection (Open Access)

This dissertation consists of two chapters on the estimation of firm-level production functions when spatial effects are present. In joint work with Pao-Li Chang, chapter 1 focuses on the impacts of global value chains (GVC) on the firm-level outcomes of Singapore. First, we quantify Singapore’s participation in global value chains (GVC) using the export decomposition framework of Borin and Mancini (2019), before using these indicators to analyse how GVC participation affects sectoral-level valueadded and employment. We find that gross exports and foreign final demand have become more important for Singapore’s value-added, largely driven by the Services sectors. We then use …


Exchange Rates And Fundamentals In Developed And Emerging Markets, Rocky K. Laurel Jul 2024

Exchange Rates And Fundamentals In Developed And Emerging Markets, Rocky K. Laurel

DLSU Business & Economics Review

This paper investigates the relationship between exchange rates on the one hand and money supply and real output on the other, then compares the relationship in developed and emerging markets. It tests the validity of the flexible price monetary model using in-sample analysis to determine if there are long-term relationships among the variables and out-of-sample analysis to compare the predictive performance of the model against a random walk. It finds evidence for a relationship as predicted by the model, contrary to long-standing findings of no relationship. It also finds some evidence that foreign exchange rates of emerging markets are more …


Access To Credit Loans And Firm-Level Productivity Of Philippine Manufacturing Firms: An Endogenous Switching Approach, Zandro M. Catacutan, Willington Onuh, Rodiel C. Ferrer Jul 2024

Access To Credit Loans And Firm-Level Productivity Of Philippine Manufacturing Firms: An Endogenous Switching Approach, Zandro M. Catacutan, Willington Onuh, Rodiel C. Ferrer

DLSU Business & Economics Review

Numerous studies have shown that financial development, such as access to credit loans, has a positive effect on firmlevel productivity. However, the relationship between financial development and productivity remains an area of interest because positive effects should at least be accompanied by evidence of the absence or presence of both heterogeneity and selection bias effects. We examine this relation using extensive cross-sectional data from the World Bank Enterprise Survey of firms with access to credit loans and firms without access to credit loans. We employ instrumental variables regression and endogenous switching regression approach to test for selection bias from firms’ …


Wage Gaps In The Philippines: A Decomposition Analysis, Neriza Chow, Maria Fe Carmen Dabbay, Mariel Monica Sauler Jul 2024

Wage Gaps In The Philippines: A Decomposition Analysis, Neriza Chow, Maria Fe Carmen Dabbay, Mariel Monica Sauler

DLSU Business & Economics Review

The data show that, overall, the gaps between the 90th- and 10th-percentile average real wages have changed over time. The 90th percentile average wage steadily increased from 2007 to 2017, while the 10th-percentile average increased quite drastically after 2013. In this paper, we aim to analyze the changes in these real wage differentials further to have a better understanding of the factors that may affect the wage distribution, specifically the 90/10, 90/50, and 50/10 wage gap groupings, by employing a simple wage gap analysis and the Oaxaca–Blinder decomposition on the October rounds of the Philippine Labor Force Survey from 2007 …


Editor’S Note Jul 2024

Editor’S Note

DLSU Business & Economics Review

No abstract provided.


Testing For Spatial Correlation Under A Complete Bipartite Network, Badi H. Baltagi, Long Liu Jul 2024

Testing For Spatial Correlation Under A Complete Bipartite Network, Badi H. Baltagi, Long Liu

Center for Policy Research

This note shows that for a spatial regression with a weight matrix depicting a complete bipartite network, the Moran I test for zero spatial correlation is never rejected when the alternative is positive spatial correlation no matter how large the true value of the spatial correlation coefficient. In contrast, the null hypothesis of zero spatial correlation is always rejected (with probability one asymptotically) when the alternative is negative spatial correlation and the true value of the spatial correlation coefficient is near -1.


Measuring The Effects Of Unconventional Monetary Policy Tools Under Adaptive Learning, Stephen J. Cole, Sungjun Huh Jul 2024

Measuring The Effects Of Unconventional Monetary Policy Tools Under Adaptive Learning, Stephen J. Cole, Sungjun Huh

Economics Faculty Research and Publications

We compare the economic effects of forward guidance and quantitative easing utilizing the four-equation New Keynesian model of Sims et al. (2023) with agents forming expectations via an adaptive learning rule. The results indicate forward guidance can have a greater influence on macroeconomic variables compared to quantitative easing. Adaptive learning agents estimate a higher effect of forward guidance on the economy leading to a greater impact on expectations, and thus, contemporaneous inflation. However, the performance gap between forward guidance and quantitative easing can change. If quantitative easing includes anticipated shocks, more households finance consumption through long-term borrowing, and the central …


Contributors Jul 2024

Contributors

DLSU Business & Economics Review

No abstract provided.


"Ain’T No Slump...I Just Ain’T Hittin’": Investigating Psychological Momentum And Loss Aversion In Major League Baseball, Josephine Matalone Jul 2024

"Ain’T No Slump...I Just Ain’T Hittin’": Investigating Psychological Momentum And Loss Aversion In Major League Baseball, Josephine Matalone

Theses and Dissertations

Throughout the history of America’s pastime, it has long been concluded among fans, athletes, and coaches alike that momentum is a key element necessary should one want to win when it counts. However, this issue of “hot hand” existence in the context of baseball has been largely glazed over since the canon of literature on the topic was initiated, and even more so has the concept of a “cold hand.” This study seeks to make a novel contribution by exploring streaks in professional baseball. Using 10-years’ worth of regular season MLB data between 2012 and 2021, a comparative analysis of …


Saved By Naloxone: The Path To Sobriety?, Marli Rose-Firillo Fichtner Jul 2024

Saved By Naloxone: The Path To Sobriety?, Marli Rose-Firillo Fichtner

Theses and Dissertations

Beginning in the early 2000s, lawmakers sought to mitigate harm and reduce mortality rates by enacting various policies and increasing community outreach, such as educating society about the dangers of opioids. These efforts can be divided into two broad categories: Drug use prevention and harm reduction. Research has been conducted on both of these strategies, utilizing retrospective analysis on outcomes including crime and mortality, among others. It is of great interest to understand which policies are most effective. NALs are an example of harm reduction because they reverse overdoses should they occur. Preemptive naloxone distribution reduces the likelihood of fatal …


Essays In Labor Economics, Inclusion, And Diversity, Saharnaz Babaei Balderlou Jul 2024

Essays In Labor Economics, Inclusion, And Diversity, Saharnaz Babaei Balderlou

Theses and Dissertations

This dissertation presents a comprehensive analysis of various teacher staffing policies and their impact on teacher retention and turnover. It comprises three studies, each addressing a unique aspect of teacher staffing challenges in the United States and in South Carolina. Chapter 2 investigates how different salary structures (frontloading vs. backloading) affect teacher turnover in South Carolina. Using a Difference-in-Differences (DID) approach and data from FY2014 to FY2023, the study finds that frontloading salary schedules do not significantly impact overall teacher turnover, with negligible effects on novice teachers. However, the impact varies with district characteristics: specifically, frontloading may reduce turnover in …


Coarse Revealed Preference, Gaoji Hu, Jiangtao Li, John K-H Quah, Rui Tang Jul 2024

Coarse Revealed Preference, Gaoji Hu, Jiangtao Li, John K-H Quah, Rui Tang

Research Collection School Of Economics

We propose a novel concept of rationalization, called coarse rationalization, tailored for the analysis of datasets where an agent’s choices are imperfectly observed. We characterize those datasets which are rationalizable in this sense and present an efficient algorithm to verify the characterizing condition. We then demonstrate how our results can be applied through a duality approach to test the rationalizability of datasets with perfectly observed choices but imprecisely observed linear budget sets. For datasets that consist of both perfectly observed feasible sets and choices but are inconsistent with perfect rationality, our results could be used to measure the extent to …


Bubbly Booms And Welfare, Feng Dong, Yang Jiao, Haoning Sun Jul 2024

Bubbly Booms And Welfare, Feng Dong, Yang Jiao, Haoning Sun

Research Collection School Of Economics

We show the competing effects of a housing bubble on the real economy by developing a multi-sector dynamic model with housing production. On the one hand, firms can sell or collateralize their housing, so a housing bubble helps firms obtain credit to finance their investment and expand production. On the other hand, a boom in the housing sector crowds out labor in the non-housing sector. We show that housing booms can reduce social welfare both in the steady state and in the transitional dynamics only when the production externalities in the non-housing sector are sufficiently large. We quantitatively evaluate our …


Hiv Estimation Using Population-Based Surveys With Non-Response: A Partial Identification Approach, Oyelola A. Adegboye, Tomoki Fujii, Denis H. Y. Leung, Siyu Li Jul 2024

Hiv Estimation Using Population-Based Surveys With Non-Response: A Partial Identification Approach, Oyelola A. Adegboye, Tomoki Fujii, Denis H. Y. Leung, Siyu Li

Research Collection School Of Economics

HIV estimation using data from the demographic and health surveys (DHS) is limited by the presence of non-response and test refusals. Conventional adjustments such as imputation require the data to be missing at random. Methods that use instrumental variables allow the possibility that prevalence is different between the respondents and non-respondents, but their performance depends critically on the validity of the instrument. Using Manski's partial identification approach, we form instrumental variable bounds for HIV prevalence from a pool of candidate instruments. Our method does not require all candidate instruments to be valid. We use a simulation study to evaluate and …