Economics Commons^™

Migration And Youth Unemployment In Africa: Implications For The African Continental Free Trade Area (Afcfta), S.U.R Aliyu, Afees Adebare Salisu, Oyeyemi Kale

Journal of African Trade

This research explores the impact of migration within Africa on youth unemployment. The study makes two sig nificant contributions to existing literature. First, it investigates how intra-African migration can potentially support intra-African trade to enhance productivity and reduce youth unemployment. Second, it estimates the effects of intra African migration on male and female youth unemployment. The research methodology comprises using a two-level estimation involving the Poisson Pseudo Maximum Likelihood (PPML) technique and a Two-Stage Least Squares approach addressing endogeneity bias. Furthermore, a Negative Binomial Maximum Likelihood estimator was utilized to test the model's robustness. The results indicate that higher per …

Potential Fiscal Stability Effects Of The African Continental Free Trade Area: An Empirical Analysis, Simon Abendin, Duan Pingfang, Umer Shahzad

Journal of African Trade

This study analyzes the potential effects of the African Continental Free Trade Area (AfCFTA) on fiscal stability, using panel data from 54 African economies that have ratified the AfCFTA from 2010 to 2021. The study uses a dynamic system GMM model to address endogeneity, simultaneity, measurement bias, and reverse causality issues. The findings indicate that the AfCFTA agreement may reduce government revenue and spending. Furthermore, the study found that the AfCFTA could lead to an increase in government debt

Esg Federalism: How State Regulations Shape Esg Performance, Kameron Eck

All Master's Theses

This thesis examines how state-level environmental, social, and governance (ESG) regulations influence corporate ESG performance in the United States. Using a panel dataset that combines state ESG legislation, firm-level ESG scores from S&P Global, and financial data from Compustat (2019–2024), I employ fixed-effects regression models to analyze the relationship between state ESG regulations and corporate ESG performance. The analysis incorporates firm and year fixed effects to account for unobservable heterogeneity across companies and time, while controlling for firm-specific characteristics. Additionally, the study investigates whether board gender diversity moderates this relationship. The findings contribute to the understanding of ESG policy effectiveness …

Assessing High-Speed Rail (Hsr) Policy And Politics In Washington State: Avoiding The Mistakes Of The Past, Landen K. Hashimura

All Master's Theses

While international standard high-speed rail (HSR) has yet to be successfully completed in the US, there is a national interest in the topic, as evidenced by recent federal initiatives to research HSR across various corridors. The Cascadia Corridor has been identified as a region with high potential for HSR, leading to an ongoing study in the State of Washington. Given the tumultuous history of American HSR development, the Cascadia HSR initiative needs to avoid the mistakes of the past. Two major contributing factors to this failure to build HSR are uneven political support for HSR and poor policy frameworks. Despite …

Too Essential To Fail: Lessons From County Fiscal Crises, Michael A. Francus

Journal Articles

This Article draws out the lessons of counties for municipal finance. To do so, the Article begins by unpacking the municipal finance regulations that have provided counties with extraordinary fiscal safety. The Article then turns to case studies of the eleven counties that either filed for bankruptcy or had state fiscal interventions since the passage of the Bankruptcy Code in 1978. Those case studies show how counties' finances can (in rare cases) go wrong despite well-designed municipal finance regulations. The case studies also show how counties have successfully responded to those crises through bankruptcy and fiscal intervention.

Using that analysis, …

Mexico Consensus Economic Forecast, Volume 28, Number 1, Thomas M. Fullerton Jr., Steven L. Fullerton

Border Region Modeling Project

No abstract provided.

Simplified Regional-National Dsge Models For U.S. State-Level Analysis, Michael Telkamp

Electronic Theses and Dissertations

This thesis develops a series of simplified Dynamic Stochastic General Equilibrium (DSGE) model variants to analyze macroeconomic dynamics at the U.S. state level. Using South Dakota as a case study, I extend the Smets and Wouters (2007) mediumscale framework by implementing state-specific output, labor, consumption, investment, and wages into a dual-economy structure, where the state is modeled as a closed economy influenced by national-level shocks. The models are estimated using Bayesian techniques on quarterly data from 2007 - 2020. Model performance is evaluated through impulse response functions and variance decompositions. A key result is that South Dakota exhibits firm habit …

Service Guarantee Decision Of Online Service Providers And Market Implications, Aijun Lu, Fuzan Chen, Harris Wu

Information Technology & Decision Sciences Faculty Publications

Online services face quality uncertainties. To address user concerns, Online Service Providers (OSPs) sometimes provide service guarantees, compensating users if quality falls below a predefined threshold. This paper analyzes how OSPs use service guarantees to navigate market competition and enhance revenue through game theory and queuing theory models. Key findings include the following: offering guarantees enable OSPs to increase prices; in monopolistic markets, guarantees are offered only if the service guarantee strength is sufficient, whereas in competitive markets, decisions depend on relative strengths and competitor actions. Surprisingly, slower response times under service guarantees can boost profits, especially when resource costs …

Market Implied Risk-Free Rates: An Analysis Of The Put-Call Parity Implied Rate, Silviu Velovici

CGU Theses & Dissertations

This study investigates the interest rate implied by put-call parity as an alternative, market-based proxy for the risk-free rate. Studying the implied risk-free rate from option prices is important because it provides insights into how market participants collectively perceive short-term financing conditions, independent of official Treasury-Bill yields. Since Treasury securities and the LIBOR are conventionally used as proxies for the risk-free rate, any persistent discrepancy between the put-call parity implied rate and the Treasury-Bill rate, or the put-call parity implied spread, can be interpreted as a signal of market frictions, investor behavior anomalies, sentiment-driven pricing dynamics, or information asymmetries.

By …

Unconventional Philosophies And Practices: Vietnamese Family Firm Performance In Multiple Countries, Amon Simba, Mai Thi Thanh Thai, Aymen Ammari, James V. Koch, Paul Jones

Economics Faculty Publications

The diversity of business philosophies and practices across family firms suggests their performance is influenced by factors that can be hard to isolate or understand. Based on 215 observations of Vietnamese firms operating in Asia, Australia, Europe, and North America, we use fuzzy-set qualitative comparative analysis techniques to discern the configurational relationships underlying their performance pathways. Of the 64 possible configurations, three pathways with a high consistency (95 percent) for high performance are distinguishable. These three pathways are characterized by varying degrees of family labor involvement, social network-based labor sourcing, and capital contributions from partners. They reveal how cultural factors, …

Ethnic Politics And Fiscal Dominance: Implications For Currency Union Formation In Sub-Saharan Africa, Benjamin D. Keen, Christine O. Strong

Economics Faculty Publications

Numerous currency unions have been proposed in Africa over the past 50 years, but none have succeeded. This paper asserts ethnic favouritism is a crucial yet often overlooked feature that strongly influences an African government’s willingness to join a currency union. We use a Barro and Gordon (1983) style model that incorporates fiscal dominance, political business cycles and ethnic favouritism to assess the benefits and costs to African households and governments of joining a currency union. Our results show that ethnic alignment between the head of state and central bank governor amplifies fiscal dominance, which reduces an African government’s desire …

The Effect Of Regime Type On Development Outcomes In Bangladesh, Simar Malhotra

Scripps Senior Theses

Bangladesh has been characterized by a turbulent political state since gaining its independence in 1971, moving back and forth between a democracy and autocracy. With this, they have also experienced immense gains in development over the last thirty years, especially within health, education, and female empowerment. This thesis exploits Bangladesh’s unique regime-switching setting to measure the impact of a shift from autocracy to democracy on child health, maternal health, and women’s autonomy within a single-country context. Using data from the Demographic and Health Surveys (DHS) Program, the analysis finds that a shift from an autocracy to a democracy increases the …

The Ascendance Of Influencers: Saints Of Capitalism In The Digital Age, Riley R. Hourihan

Master of Liberal Studies Theses

This thesis examines the rise of social media influencers as modern-day saints within the cultural and economic framework of late capitalism. Drawing on interdisciplinary scholarship from religious studies, media theory, and cultural criticism, it argues that influencer culture does not replace religion but retools its structures—ritual, authority, devotion, and community—for the digital age. Through detailed case studies ranging from Hailey Bieber and Taylor Swift to Ballerina Farm and MrBeast, the paper explores how influencers shape identity, mediate ethics, and mobilize affect through algorithmic rituals and parasocial relationships. Influencers perform a form of digital sanctity that parallels traditional hagiography, guiding followers …

Price Sensitivity In The Secondhand Market: An Analysis Of Consumer Behavior On Ebay, Reyna Kleemeier

Scripps Senior Theses

The secondhand market is rapidly expanding, driven by growing consumer interest in sustainable consumption and economic value. This thesis examines consumer price sensitivity within the online resale market. Using a unique dataset of eBay clothing transactions, I employ an OLS regression model to analyze price elasticity of demand across various categories of new and used goods. I find that used goods exhibit characteristics of Veblen goods, where higher prices correlate with increased demand, suggesting that consumers perceive elevated prices as signals of rarity, quality, or exclusivity. My results highlight the nuanced dynamics of online resale markets, where consumer behavior is …

Covid-19'S Impact On Grocery Expenditure Amid The Rise Of Social Media's Unattainable Wellness Culture Within Beverage Products, Ava Hinz

Scripps Senior Theses

This paper explores post-pandemic consumption through two different lens: economics and media studies. First, I will focus on COVID-19’s impact on the expenditure of grocery goods. Then I will explore how today’s wellness culture is made unattainable through social media by examining an organic grocery store and two beverage products. By examining these two areas of consumption, it provides critical information on an individual’s consumption during the unique shocks of the pandemic and the cultural context behind those actions.

Examining The Industrial Impact Of Fintech Lending In The Post-Next Normal Era, Nur 'Asyiqin Ramdhan, Imbarine Bujang, Amirul Afif Muhamat, Purwatiningsih Lisdiono

The Indonesian Capital Market Review

The financial sector has undergone a substantial paradigm shift as a consequence of the COVID-19 pandemic prompting industries actively innovate their financing method. Utilizing ARDL, our analysis reveals intriguing insights into the interaction of financing determinants interruptions caused by the epidemic, and the P2P lending success. The long-term effects of economic conditions alluding to the significant influence of investment size across various industrial sectors. The industrial differences suggest interesting connections between the size of investments, and loan tenure to the P2P lending in different industries. The wholesale and retail trade sector demonstrates intricate reactions to changes in investment size, while …

Modeling Inflation Expectations In Forward-Looking Interest Rate And Money Growth Rules, Zhengyang Chen, Victor J. Valcarcel

Faculty Publications

We propose a novel approach that directly embeds rational expectations (RE) into a low-dimensional structural vector autoregression (SVAR) without the need for any mapping to a dynamic stochastic general equilibrium (DSGE) model. Beginning from a fully specified “consensus” structural model, we establish an instrumental variable procedure internal to the SVAR to obtain RE-consistent structural responses to identified monetary policy shocks. Our RE-SVAR framework facilitates a comparison across two alternative monetary policy indicators that accommodate long horizons in the formation of inflation expectations in the policy rule. We construct clouds of responses of inflation and economic activity to monetary …

Volatility Spillover Across Energy Markets, Mohammad Taisir Bani Hani

Wayne State University Dissertations

This study examines price volatility spillovers between two major world crude oil benchmarks, WTI and Brent, as well as between WTI and its refinery products using daily data from 1987 to 2023. The analysis focuses on two key phenomena: the financialization of commodity markets and the fracking revolution. To capture these dynamics, the study employs two models: the BEKK-GARCH model by Engle and Kroner (1995) and the D-Y volatility index by Diebold and Yilmaz (2009, 2012). Findings reveal that both phenomena significantly influence the direction and magnitude of volatility spillovers between these markets. Specifically, results from the D-Y index show …

Thorstein Veblen: The Independent Thinker Whose Contributions Advanced A Distinct Tradition Of Heterodox Economics, John B. Hall

Economics Faculty Publications and Presentations

Challenging Charles Camic’s perspective, this article argues that Thorstein Veblen’s time at the top amounted to about nineteen years; a fraction of his professional career. While drawing from and building upon challenges associable with a changing world which he faced – related to the ending of Laissez-faire and the rise of big business; the institutions initiated for prosecuting World War I; and the accompanying rise of the vested interests – Veblen’s writings effectively and propitiously provided a solid foundation for an American school of heterodox thought known as Original Institutional Economics.

Knowledgeable Partisans And Inflation Expectations, Ethan Struby, Christina Farhart

Department of Economics Working Paper Series

Using a nationally representative survey from the 2024 United States presidential election, we investigate the role knowledge plays in the difference between inflation expectations of Republicans and Democrats. Unconditionally, Republicans' average inflation forecast was nearly 3\% higher than Democrats; they also reported higher inflation in the past year (3.5\%) and higher expectations in the long run (2.0\%). Conditioning on their beliefs about the future and their long-run forecasts reduces the pure partisan gap in inflation forecasts by two thirds. The gap between Democrats and Republicans is largest for partisans who are the most knowledgeable about politics. Greater numeracy appears to …

The Puzzle Of Political Ambition And Prosociality, Jennifer Pate, Alessandra Cassar, Mary L. Rigdon

Economics Faculty Works

This study explores the effect of prosocial interventions on political engagement, particularly whether a prosocial, redistributive option can narrow the gender gap in willingness to enter elections (Pate and Fox, 2018). Previous evidence suggests that prosocial incentives boost women’s desire to compete (Cassar and Rigdon, 2021a,b). Building on this, our research investigates whether mechanisms that enable elected leaders to share their gains can increase women’s political ambition. We conducted a laboratory experiment at two distinct laboratories with 320 participants using a within-subjects design to compare a standard election with one where the elected leader could redistribute earnings to the lowest …

Post-Pandemic Recovery: Search And Matching, Market Power, And Endogenous Labor Demand, Konstantin Platonov

Economics Faculty Works

Following the COVID-19 pandemic, United States (US) output rebounded quickly, labor productivity rose above pre-pandemic levels, profit rates increased, and the labor market tightened, all despite high unemployment. These observations can be reconciled in a search and matching model of the labor market with two new assumptions of strong firm market power and endogenous labor demand. Market power encourages firm entry when prices rise, while endogenous labor demand enables firms to adapt to shocks rather than shut down. Two regimes arise: one with weak market power, representing the pre-pandemic era and another with strong market power, explaining the post-pandemic recovery. …

Hunting And Fishing Ceos: Environmental Plunderers Or Saviors?, Thomas Covington, Steve Widler, Keven Yost

Finance Faculty Works

CEOs who participate in hunting and fishing benefit by appreciating natural environments and permanently consuming natural resources. We examine whether CEOs who hunt and fish make different environmental decisions and find that firms led by CEOs who obtain the most hunting and fishing licenses have lower environmental performance as measured by MSCI-KLD. This effect is strongest in the environmental category of climate change but also extends to pollution, waste, and the protection of natural capital. Furthermore, firms led by CEOs with the most hunting and fishing licenses are significantly more likely to pay a regulatory settlement for an environmental regulatory …

Complainer's Dilemma, Greg Leo, Jennifer Pate

Economics Faculty Works

Technological innovations have made complaining easier. Often, when it is easy to complain, only problems that meet a high threshold of complaints are addressed. We present a novel model of the strategic environment facing complainers and demonstrate that the properties of the resulting games' equilibria justify the existence of high complaint thresholds. By setting the thresholds appropriately, an administrator can prevent complaints that are not worth addressing. Policies that minimize the cost of complaining while requiring a large threshold are universally more efficient for large constituencies. Our results regarding the equilibrium for large constituencies are facilitated by the application of …

From Conscientious French Canadian To Enterprising American: Making Memory & Measuring Social Mobility Of French Canadians 1880-1940, Brooke S. Schwaderer

Dissertations, Master's Theses and Master's Reports

This thesis studies the social mobility of French-Canadian immigrants to the Keweenaw Peninsula 1880-1940 and memory among their descendants to explain how French-Canadian culture in the Keweenaw faded over time. Oral histories were conducted to gain an understanding of the current French-Canadian culture in the Keweenaw, understand how the current generation perceives changes in culture over time, and provide possible explanations for why French-Canadians thrived in the Keweenaw. Tax records from the Michigan Technological University Archives and social mobility scores, mother tongue, and homeownership information from the United States census was analyzed to measure language loss, and the social mobility …

The Swiping Desire: Intimacy, Libidinal Capitalism, And The Digital Subject In The Tinder Swindler, Chanif Ainun Naim

Masyarakat: Jurnal Sosiologi

This article examines how dating applications operate as libidinal infrastructures that restructure and commodify intimacy within platform capitalism, using The Tinder Swindler as a cultural case study. Employing a visual-narrative approach within the framework of Critical Discourse Analysis, the film is analyzed to reveal the structural exploitation of user affect and desire. Grounded in Lacanian psychoanalysis and Baudrillard’s simulation theory, the study argues that these platforms capitalize on the subject’s ontological lack (manque) which fuels desire as the desire for the Other’s desire. This psychic lack sustains a perpetual pursuit of recognition that can never be fulfilled. The swindler’s hyper-curated …

Personal Finance – Emerging Issues And Trends. Opening Remarks, Katarzyna Kochaniak, Witold Gradoń

Journal of Banking and Financial Economics

Personal Finance – Emerging Issues and Trends. Opening Remarks

Generational Perspective Of Financial Literacy And Consumer Over-Indebtedness. Survey Evidence From Poland, Beata Świecka

Journal of Banking and Financial Economics

Background and purpose of the article: The main aim of the article is to present financial literacy (FL) and consumer over-indebtedness (OI) according to the primary survey in Poland. The auxiliary aim is to analyse the importance of financial literacy in reducing consumer over-indebtedness from a generational perspective. Over-indebtedness is a significant problem in personal finance because it leads to a situation in which household members cannot settle their financial obligations on time, negatively affecting their economic stability and prospects for long-term financial security (D’Alessio, Iezzi, 2013). It is becoming increasingly common in the country and around the world. It …

The Right Of Big Tech Companies To Issue Money In The Opinion Of Consumers From France And Germany, Robert Huterski

Journal of Banking and Financial Economics

With a vast customer base and the acquisition of information about their customers and their preferences in connection with their services, Big Tech companies are also becoming essential players in the financial sphere. Payment solutions offered by Big Tech companies, such as Google Pay or Alipay, familiarise consumers with the presence of such companies in the monetary sphere. The issuance of private money has the most excellent chance in a form regulated by public authorities and with a value stabilized to the national currency, regardless of whether it would be similar to narrow banking, synthetic CBDC or another, related form. …

European Household Savings Dynamics: Under Inflation And Post-Pandemic Shocks, Mateusz Mierzejewski, Julia Szczurek

Journal of Banking and Financial Economics

The Covid-19 pandemic, which began in early 2020, triggered a global health and economic crisis, leading to unprecedented changes in consumer behaviour and the functioning of national economies. This article examines the impact of the pandemic and the subsequent inflationary crisis on household savings levels in selected European countries. The analysis includes an assessment of household responses to changing macroeconomic conditions, such as inflation, interest rates, and household incomes, as well as the effectiveness of implemented monetary and fiscal policies. The study employs a neural network model considering autoregressive relationships in a panel data approach. The research covers data from …