Economics Commons^™

Rebuilding The American Dream: Understanding And Alleviating First-Time Home Buyer Affordability Challenges In Northwest Arkansas, Samuel R. Butler

Economics Undergraduate Honors Theses

Homeownership is a cornerstone of the American Dream. It is linked to numerous socioeconomic benefits such as social cohesion, civic engagement, imbalance in opportunities, education, and public health. However, in recent years, housing affordability across the nation and in Northwest Arkansas has become challenging.

Part I of this thesis explains the importance of homeownership nationally and the deteriorating conditions of first-time homebuyers. It explains the key drivers of housing affordability over time, and it explains the connection between zoning and affordability.

Part II focuses on the housing market in Northwest Arkansas (NWA). I forecast the NWA housing demand, which highlights …

Spillover Effects Of Foreign Direct Investment Within Japan's Industries, Kenshi Kawade

Economics Undergraduate Honors Theses

This thesis investigates the relationship between inward Foreign Direct Investment (FDI) and Total Factor Productivity (TFP) across Japanese industries to evaluate FDI’s potential for economic revitalization in Japan. Despite policy efforts under Abenomics to attract more FDI, Japan continues to lag behind other developed economies in foreign investment levels, hindered by structural barriers such as keiretsu networks and limited absorptive capacity. Using industry-level panel data from 1994 to 2018, this study applies Granger causality tests and panel regression models to examine the direction and magnitude of FDI spillovers on productivity. The results indicate a one-way causal effect from FDI to …

The Switch: Determinants Of Family School Modality Choices During The Covid-19 Pandemic, Steicy Dorfi Lopez

Economics Undergraduate Honors Theses

The K-12 system in the United States experienced substantial challenges during the COVID-19 pandemic. This study aims to give an overview of public, private, and homeschooling enrollment decisions during the pandemic, the changes families made between types of schooling and identify familial characteristics associated with the probability of switching in and out of public education. Knowing more about the groups exiting and returning to the public school system can help public school districts better tailor policies to attract and retain their students. Socioeconomic factors influencing a change could be signs of increasing segregation. Using a discrete choice duration model, a …

Planting The Seed: Rumors And Ceo Dismissal, Diego Villalpando

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

Researchers have investigated the short-term performance implications of CEO dismissals as assessed through investor reactions to CEO dismissal announcements. While the corporate governance mechanism of dismissal that boards orchestrate when CEOs underperform could be positively perceived by investors, empirical evidence suggests that a positive association between CEO dismissals and investor reactions is equivocal. Thus, in my dissertation, I examine investor reactions to S&P 500 dismissal announcements and further understanding about this intriguing relationship through the development of theory that incorporates the important theoretical mechanism of information uncertainty. Since it is increasingly hard for boards to reduce the information uncertainty surrounding …

The Influence Rural Leaders Have On Local Population Change: A Two-Part Study, Nichole T. Reiner

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

This two-part research study aims to understand factors that influence a rural community population and how local leaders believe they can influence those factors to impact population changes. The first study focuses identifying factors that predict population change using a linear regression model. The second study is a multiple case study focused on three communities, where a mix of secondary data and community leader interviews provided an in-depth understanding of how local leaders perceive their capacity to influence factors influencing population change in their communities.

Advisor: LJ McElravy

Sociological Understandings Of Entrepreneurial Action And Intention, Jeffrey Cavanaugh

Dissertations and Doctoral Documents, University of Nebraska-Lincoln, 2023–

Entrepreneurship as a trend has emerged across many different disciplines, drawing on theory from psychology, economics, and sociology. Importantly, sociologic aspects of entrepreneurship remain hidden from scholarship, as existing topics are often vague or narrowly partitioned. In my dissertation, I utilize sociological understandings of human interactions which define entrepreneurial intention and action. Specifically, I explore how entrepreneurs’ religion, rurality, and social media use influences their behaviors. Throughout these three quantitative essays, I contribute to a better understanding of the social psychology of entrepreneurship, and why entrepreneurial pursuits are so intricately linked to every aspect of society. Throughout my research, which …

Cares Act And Income Inequality In The Long Run, Kathleen Washington

Honors Program: Senior Projects (Public)

In this paper, I will be looking at how the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a revolutionary public policy, led to income inequality decreasing during the Covid-19 pandemic in the US. Additionally, from the data available, the CARES Act seems to not have had any long run effects on income inequality in the US. Although, I would recommend more research on the CARES Act’s long-run effects when more data become available as time passes.

Latinas In The Figured World Of Economics: Constructing Identity And Agency, Cynthia Gamez

Open Access Theses & Dissertations

Women's endeavors to enhance their numbers, visibility, and presence in economics are a significant topic of discussion in the field of economics. While it has long been documented that women are outnumbered in economics, there was almost no research on Latinas: only on White women. Using a theoretical framework of identity and agency in cultural worlds, this qualitative study aimed to understand how Latinas who graduated with master's degrees from three universities along the U.S.-Mexico border constructed their identities and positioned themselves as economists. Ten Latinas who graduated between 2002 and 2022 from the Paso del Norte regional universities were …

Two Essays On Finance And Culture, Gia Han Ngoc Doan

Theses and Dissertations

This dissertation consists of two essays on finance and culture. The first essay examines the relationship between corporate quality culture and product recalls. The results show that firms with a stronger quality culture are less likely to have product recalls. This relationship is stronger for firms with more female directors and higher levels of managerial ability. We also find that for firms in high-tech industries, the impact of quality culture on product failure is more profound. The results are robust to various endogeneity tests and alternative models. Our findings support that a firm’s quality culture significantly influences product success and …

Climate Resilience In Texas Assessing The Impact Of Extreme Weather On Energy Poverty And The Mitigating Role Of Tree Canopy Coverage, Yongwen Yang

Theses and Dissertations

Extreme weather events, including severe heat and cold waves —increasingly threaten public health, economic stability, and energy equity. This two-part study examines the interplay between extreme weather, energy poverty, and green infrastructure (tree canopy coverage) in Texas, a state characterized by climatic extremes and socioeconomic diversity.

This study consists of four chapters. The first chapter in the Introduction includes the research background, existing research, research gaps, research questions, and potential contributions. Followed by two core chapters. Chapter II aims to assess the impact of extreme weather on energy poverty at the household level. Chapter III aims to identify whether tree …

Revisiting The Lasting Impacts Of Incarceration, John Eric Humphries, Cécile Macaire, Aurélie Ouss, Megan Stevenson, Winnie Van Dijk

Cowles Foundation Discussion Papers

Using newly-linked administrative and commercial data from Virginia spanning 25 years, we study the consequences of incarceration. While previous research has examined labor market outcomes and recidivism, we focus on two of the primary channels through which low-income households build wealth: asset ownership (homes and cars) and human capital formation. To identify causal effects, we use a matched differencein-differences design. In line with much of the literature on the impact of incarceration in the U.S., we find no evidence of scarring effects on labor market outcomes or changes in recidivism beyond the incapacitation period. However, we find that incarceration leads …

A Dynamic Theory Of Optimal Tariffs, Eduardo Dávila, Andrés Rodríguez-Clare, Andreas Schaab, Stacy Yingqi Tan

Cowles Foundation Discussion Papers

The classic tariff formula states that the optimal unilateral tariff equals the inverse of the foreign export supply elasticity. We generalize this result and show that an intertemporal tariff formula characterizes the efficient tariff in a large class of dynamic heterogeneous agent (HA) economies with multiple goods. Intertemporal export supply elasticities and relative tariff revenue weights are sufficient statistics for the optimal tariff that decentralizes the efficient allocation. We also develop a general theory of second-best optimal tariffs. In dynamic HA incomplete markets economies, Ramsey optimal tariffs trade off intertemporal terms of trade manipulation against production efficiency, risk-sharing, and redistribution. …

Hands On Archiving: Aid In Reorganizing The San Bernardino County Museum Archive Room And Archival Material, Ezequiel Vera

Electronic Theses, Projects, and Dissertations

This paper documents the process and details of the History Archives Inventory Project at the San Bernardino County Museum (SBCM). Most of the work of this project is done in-person and will include photographic evidence of the project, a written portion that will explain the process of the project, and secondary literature that will help explain the process of the project and its corresponding decision making. The History Archives Inventory Project is a multiple year-long project; this paper will be limited to my time working on the project while completing my Master of Arts in History at CSUSB. My time …

Borderplex Business Barometer, Volume 9, Number 5, Thomas M. Fullerton Jr., Steven L. Fullerton, Alejandro Sandoval-Murillo

Border Region Modeling Project

No abstract provided.

Three Essays On Robust Mechanism Design, Kexin Wang

Dissertations and Theses Collection (Open Access)

This dissertation consists of three chapters that study the mechanism design problems when the designer does not completely know the economic environments. In the first chapter, we study the design of contracts when the principal has limited statistical information about the output distributions induced by the agent’s actions. In the baseline model, we consider a principal who only knows the mean of the output distribution for each action. The mean restrictions allow for a large set of profiles of output distributions, including some extreme output distributions that can be used to establish the robust optimality of increasing affine contracts. Motivated …

Essays On Institutions And Human Capital, Xiaofan Zhu

Dissertations and Theses Collection (Open Access)

This dissertation investigates the critical role of political and culturally embedded institutions in shaping human capital investment and firm behavior, focusing on three distinct but related areas. Chapter 1 investigates how institutional quality influences educational choices in China, with a focus on behavioral responses to the anti-corruption campaign. The study finds that politically connected students from regions more a!ected by the campaign are significantly more likely to pursue further education – especially those with non-STEM majors, weaker academic performance, and stronger political ties. The analysis of underlying mechanisms suggests that as the employment environment became more equitable, connected individuals responded …

The Effects Of Income On Infant Health: Evidence From The Coal Boom And Bust, Chu Gek Chew

Dissertations and Theses Collection (Open Access)

An individual’s health at birth is an important component in human capital accumulation, posing significant implications both in the short- and long-run. I investigate how infant health outcomes were impacted during a period of successive positive and negative economic shocks led by the coal industry between the 1970s to 1990s. Using exogenous variation within counties’ pre-existing coal reserves, I instrument for the changes in economic opportunities during the coal boom and bust. I find some limited evidence that an increase in income improves infant health outcomes. The incidence of low birthweight is decreasing in earnings growth, and effects are stronger …

Does Moving From One-Story Building To Multi-Building Affect The Health Status Of The Elderly: Evidence From China’S Par Program, Lu Cao

Dissertations and Theses Collection (Open Access)

This study investigates the causal impact of relocating from single-story to multistory buildings on the health outcomes of elderly residents in China. Using China’s Poverty Alleviation Relocation (PAR) program as an exogenous policy shock, we employ instrumental variable and difference-in-differences approaches to establish causality. Our analysis of data from the China Health and Retirement Longitudinal Study (2011-2018) reveals a nuanced relationship between vertical living and elderly health. While relocation to multi-story buildings is associated with deterioration in self-reported physical health status, it significantly improves mental health conditions and life satisfaction among elderly movers. We identify two key mechanisms driving these …

Intraday Volatility In Financial Markets: Evidence From High-Frequency Data, Haolin Wang

Dissertations and Theses Collection (Open Access)

In this study, we conduct an analysis of intraday spot volatility using high-frequency data from the SPDR S&P 500 ETF (SPY). We begin with the assumption that the intraday volatility of asset prices exhibits time-variation. To capture this dynamic behavior, we construct proxies for the unobserved spot volatility by applying appropriate estimators to the high-frequency price data. Following the estimation procedure, we employ various forecasting models to generate volatility forecasts. Finally, we evaluate and compare the predictive performance of these models using established forecast evaluation metrics, and analyze the results.

Essays On Financial Econometrics, Yuexuan Ren

Dissertations and Theses Collection (Open Access)

This dissertation consists of two papers that contribute to the theory of estimation, inference, and prediction using high-frequency financial data. In the first chapter, time-varying betas from return regressions, commonly used to measure systematic financial market risk, are studied using high-frequency data. A novel econometric framework is introduced for the nonparametric estimation of these betas. The optimal finite-sample inference, in a well-defined sense, is enabled by the local Gaussian property of a generic continuous-time benchmark model under the fixed-k framework. Furthermore, a uniform functional inference theory for spot regressions is developed. The proposed methodology is broadly applicable in empirical settings, …

Leveraging Data Analytics For Enchanced Economics Prediction: A Study Of Predictive Models And Economics Indicators, Janelle Rueda

Electronic Theses, Projects, and Dissertations

The purpose of this project is intended to investigate the lack of use of data analytics in predicting and managing the impacts of economic crises. This project investigates what economic key factors can be used to create a framework model and evaluate the effectiveness of the key economic indicator being tested as early warning signs. The project uses programs such as Excel, RStudio, and Tableau for the collection of historical data, and regression analysis to determine if certain economic indicators have a statistically significant correlation with GDP, that may help enforce systems in place to help us mitigate economic crises …

The Effect Of Employment Shocks On Earnings: Evidence From The Covid-19 Pandemic, Giovanny A. Martinez Rodriguez

Economics Honors Projects

Economic research has documented significant short, medium, and long-term labor market consequences following recessions (Goodman & Mance, 2011; Yagan, 2017; Farber, 2011). The Covid-19 recession triggered an unprecedented economic downturn, disproportionately impacting employment in industries with high concentrations of low-income and female workers. In this paper, I leverage the substantial spatial variation in employment shocks to examine their effects on earnings and employment outcomes in both the short and medium terms. I find remarkably stable trends in earnings and employment when comparing counties experiencing high employment shocks with those that did not. Although these results differ from previous recessions, they …

Essays On Spatial Economics And International Trade, Yunlong Song

Dissertations and Theses Collection (Open Access)

This dissertation consists of two chapters that study the China’s spatial economy in the context of heterogenous skill workers, local capital investment, and foreign direct investment (FDI). The first chapter studies how production factor accumulations in space respond to economic shocks or events, and how those responses modify the aggregate and distributional impacts of shocks. To examine their responses and implications, we develop a dynamic spatial model that incorporates capital accumulation and skill acquisition. Focusing on China’s trade liberalization and infrastructure expansion in the early 2000s, we show that allowing for capital accumulation amplifies welfare gains and intensifies between-skill inequality, …

Is Subjective Well-Being Insured Against Income Shocks? Evidence From 20-Year Panel Data In South Korea, Jiyeon An, Taehyun Ahn, Kim

Research Collection School Of Economics

Using 20 years of nationally representative panel data in South Korea, we estimate how life satisfaction responds to income shocks. We document that unexpected income changes significantly impact an individual's life satisfaction, and the magnitudes depend on the persistence of income shocks. We find that permanent income shocks substantially penetrate life satisfaction, while transitory income shocks have minimal impact. We also find that life satisfaction regarding external factors such as family income and leisure activities is more sensitive to income shocks than life satisfaction related to social relationships. Our findings imply that it is critical for the government to address …

Strategizing Towards The Future Hospital: A Systems Thinking Approach, Ashish Kumar, Sean Shao Wei Lam, Sze Ling Chan, Yingqi Xu, Yao Ge, Geoffrey Kah Tack Gui, Hiang Khoon Tan

Research Collection School Of Economics

Background: The complex systemic nature of Future Hospital design in the rapidly ageing city-state of Singapore calls for systems thinking. We apply this approach to answer two research questions: (i) What are the variables that drive the present and future dynamics of the Future Hospital system? (ii) How are these driving variables related? Methods: Causal loop diagrams (CLDs) were developed collaboratively by a cross-functional system modelling team through group modelling discussions and reviews, totalling 20 sessions. Network analysis of the resulting CLDs was used to identify dominant variables. Results: Seven interlocking CLDs (national view, cluster view, and study hospital top …

Valuation Of Crypto Assets On Blockchain With Deep Learning Approach, Xi Zhou, Yin Pang, Esther Ying Yang, Jing Rong Goh, Shaun Shuxun Wang

Research Collection School Of Economics

With the rapid expansion of the blockchain ecosystem, crypto asset valuation has become an essential area of study for investors and institutions. Here, we introduce a deep learning framework that was designed to predict the value index of crypto assets by integrating intrinsic value variables and decomposing market prices into value and sentiment components. The Crypto Asset Value-indexing Model (CAVM) was applied to Ethereum’s cryptocurrency ETH to demonstrate its effectiveness. Four econometric tests were conducted to verify the informativeness, predictiveness, and reasonability of the generated value indices, as well as the efficiency of price decomposition. Our findings suggested that the …

Limit Theory For Local Polynomial Estimation Of Functional Coefficient Models With Possibly Integrated Regressors, Ying Wang, Peter C. B. Phillips

Research Collection School Of Economics

Limit theory for functional coefficient cointegrating regression was recently found to be considerably more complex than earlier understood. The issues were explained and correct limit theory derived for the kernel weighted local level estimator in Phillips and Wang (2023b). The present paper provides complete limit theory for the general kernel weighted local th order polynomial estimators of the functional coefficient and the coefficient derivatives. Both stationary and nonstationary regressors are allowed. Implications for bandwidth selection are discussed. An adaptive procedure to select the fit order  is proposed and found to work well. A robust -ratio is constructed following the new …

Unintended Consequences: How Direct Cash Payments To Families Experiencing Poverty Lowered Child Poverty Rates In The United States, Wayne Dunn

Electronic Theses, Projects, and Dissertations

Child poverty has adverse effects for the children who experience it and it has long term social and economic consequences into adulthood. This policy analysis looks at the policy choices America has made in addressing child poverty and what effects, if any, those policies have had. After reviewing traditional in-kind policy options for addressing child poverty, this article focuses on the decreases in the child poverty rate that occurred with the passage of pandemic era legislation that provided direct cash assistance to all Americans. Because the assistance programs only happened in two consecutive years and were terminated at the end …

Understanding Household Financial Stability: Examining The Effects Of Inflation And Income, Cyndy E. Gutierrez-Fierros

Electronic Theses, Projects, and Dissertations

This study aims to investigate the impact of inflation on US household financial stability from 2013 to 2023. As inflation rises, individuals’ purchasing power erodes leading to influence economic behaviors. Behaviors such as spending, saving, and borrowing should be a priority concern in the US economy. Results of this study reveal that inflation does not affect financial well-being and its direct impact on household stability is statistically weak. Regression testing shows that income emerges as the most significant factor. Most noticeably income influences savings and debt management in a positive way. As per these results, economic policies should be focused …

Borders And Burdens: Three Essays On Inter-Jurisdictional Tax Policy In America, Benjamin Jaros

All Dissertations

Individuals, firms, and governments make decisions about the tradeoffs of different tax policies at jurisdictional borders, such as those between states, nations, or local governments; those choices shape the burden of taxation. This dissertation examines the effects of three distinct changes in tax policy: for state corporate income tax apportionment, colonial tobacco tariffs, and tax abatements for data centers. Chapter 1 examines how changes to the corporate income tax base formula affect state tax revenues. Chapter 2 analyzes how colonial era export and import tariffs on tobacco impacted trade volumes, raised revenue, and the distribution of the tax burden between …