Economics Commons^™

The Effect Of Minimum Wage On Household Debts And Delinquencies, Payton G. Rader

Williams Honors College, Honors Research Projects

This paper examines how increases in binding minimum wages affect various types of household debts and delinquency rates. Within this paper, household debt is defined as the combined sum of auto loans, credit card debt, mortgage debt, and student loan debt. The goal of the analysis is to conclude whether minimum wage increases are contributing to America’s growing debt crisis. The answer to this question likely relies on whether or not minimum wage increases cause unemployment. This is because unemployment can contribute significantly to debt levels when unemployed people rely on credit for day-to-day transactions or payments. Traditional economic theory …

Teaching A New Dog Old Tricks: How Buy Now Pay Later Responds To Consumer Financial Strength, Ryunosuke Nakase

CMC Senior Theses

This thesis aims to answer three questions. 1) How does BNPL usage in the US respond to macroeconomic conditions reflective of consumer strength? 2) Does BNPL debt migrate toward credit cards during months following high BNPL spend? 3) How does BNPL respond to macroeconomic conditions at the firm level? I constructed a 4 year monthly and quarterly time series dataset spanning from 2021 to 2025. I utilize time series OLS regressions to examine the short-term behavior of BNPL volume monthly at the aggregate level and quarterly at the firm level. At the aggregate level, BNPL volume in the US is …

Essays On Public Policy, Labor Markets, And Regional Economics, Toby Heaney

Graduate Theses, Dissertations, and Problem Reports (ETD)

This dissertation consists of three empirical essays examining how economic and political outcomes respond to changes in public policy, information, and local economic conditions. Across the three studies, the dissertation applies empirical methods to questions in political economy, economic forecasting, and regional economics, with particular attention to how the effects of economic shocks and policy changes vary across individuals, markets, and geographic areas.

The first essay examines the role of policy salience in electoral outcomes. Building on rational-choice and median-voter models, it argues that voters may respond disproportionately to policies that impose concentrated and highly visible costs, even when those …

Snap Benefits In A Recession: Mountain West State Projections, Olivia K. Cheche, Caitlin J. Saladino, William E. Brown Jr.

Health

This fact sheet presents data on simulated recession impacts to the Supplemental Nutrition Assistance Program (SNAP) in the Mountain West. The Urban Institute’s “How Would a State Cost Share Affect SNAP in a Recession?” report provides recession projections based on the current SNAP policy – which allows SNAP to automatically expand in the event of a recession – as well as a 10% cost share scenario, for all 50 U.S. states and the District of Columbia. This fact sheet focuses on recession projections for the five Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah.

Benefits Of Extended Unemployment Insurance On Post-Unemployment Outcomes, Alyssa Roche

Electronic Theses and Dissertations

This thesis investigates how unemployment insurance (UI) affects individuals during and after unemployment. Drawing on historical evidence from recent recessions in the United States, publicly available data, behavioral insights, and mathematical modeling, it argues that the benefits of extending UI outweigh the potential costs. The analysis incorporates a wide range of sources, including empirical economic studies using regression models and psychology and business research that highlight behavioral responses to financial stress and job insecurity. By combining quantitative data with behavioral context, the thesis offers a more comprehensive understanding of how extended UI influences job search decisions, wage outcomes, and overall …

Part 1: Change Is The Only Constant: The Economy Of Hampton Roads, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

We discuss how the region’s economy performed in 2024 and provide an assessment of the prospects for growth in 2025 and beyond. Rapid and significant changes in trade, immigration, tax, and expenditure policies will impact the economy of the region, state, and the nation in the coming years in unforeseen ways. We can, however, leverage historical data and experience to make informed judgements about the state of the regional economy and how it may fare over the coming year.

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 …

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. …

Assessing The Impact Of Medicaid Expansion On The Labor Market, Healthcare Access, And Health Outcomes During The Covid-19 Pandemic, Kaavya Narayan

CMC Senior Theses

This thesis examines the impact of Medicaid expansion status on labor market outcomes, healthcare access, and health outcomes during COVID-19. Using data from the CDC’s Behavioral Risk Factor Surveillance System and a Difference-in-Differences (DiD) model, I estimate the effects of Medicaid expansion on unemployment, financial barriers to care, obesity, and poor health before and after the pandemic. The analysis also accounts for state-level political and demographic characteristics, gender, marital status, and education level. My results show that non-expansion states, relative to expansion states of similar political and demographic breakdowns, are significantly more disadvantaged in terms of obesity, poor health, financial …

Abortion Access And The Economy: How The Dobbs V. Jackson Decision Impacted Female Economic Outcomes, Mia Kathleen Nelson

CMC Senior Theses

This thesis will aim to understand the economic impact of removing access to abortion by comparing economic outcomes in states that banned abortion with those that did not ban abortion following the Dobbs V. Jackson Supreme Court decision. By using data from the Consumer Population Survey, I created a model to estimate the impact of banning abortion on metrics such as unemployment rate and labor force participation rate. My model indicated that banning abortion in these states did have a statistically significant impact on female economic outcomes, indicating that banning abortion decreased female labor force participation rate and increased the …

The Impact Of Job Loss On Health-Related Outcomes During The Covid-19 Pandemic, Kelly Prawira

CMC Senior Theses

In this paper, I explore the effects of job loss during the COVID-19 pandemic on self-reported general and mental health conditions and health insurance coverage. Using Medical Expenditure Panel Survey data from 2018-2022, I evaluate the effects of job loss on these health-related outcomes by conducting a year-over-year analysis. I also examine changes in job loss effects during the pandemic by performing a difference-in-differences analysis. Overall, I find that job loss is associated with a higher likelihood of having fair or poor general and mental health, a higher likelihood to have Medicaid/SCHIP, and a lower likelihood to have private insurance. …

Impact Of International Trade Competitiveness On Unemployment And Poverty Reduction In Ecowas Region, Ikubor Ofili Jude, Yahaya U. Isah, Ojih U. Abraham, Mazeli O. Mark, Abdul Y. Mary

DLSU Business & Economics Review

This study investigates the impact of trade competitiveness on unemployment and poverty in the ECOWAS region. The study relied on POLS, FE, and RE techniques to analyze the impact of export value and trade openness on unemployment and poverty in the ECOWAS region from 2001 to 2020. Annual time series data were sourced from World Bank and World Integrated Trade Solution databases. Major findings from this study show that unemployment responds strongly and favorably to export value and trade openness, whereas poverty responds favorably to trade openness. Further investigation revealed that trade regulatory environment is a determinant of unemployment and …

Unemployment, Weekly Earnings, And Cost Of Living In Mountain West Metros, 2022, Annie Vong, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data on unemployment, weekly earnings, and cost of living for five Metropolitan Statistical Areas (MSAs) in the Mountain West states of Arizona, Colorado, Nevada, and Utah. The Ludwig Institute for Shared Economic Prosperity (LISEP). Local Analysis report includes data on the 50 largest MSAs in the U.S., which include the following in the Mountain West: Phoenix-Mesa Scottsdale, AZ; Tucson, AZ; Denver-Aurora-Lakewood, CO; Las Vegas-Henderson-Paradise, NV; and Salt Lake City, UT.

Essays On Aging, Health, And Labor Market, Lanjie Wang

Dissertations and Theses Collection (Open Access)

This dissertation consists of four chapters on aging, health, and labor economics.

In the first chapter, we investigate the short-term impacts of unemployment on older workers in Singapore, a setting without public unemployment insurance. Using monthly panel data, we analyze dynamic impacts on income, spending, health, and subjective well-being over two years post-unemployment. We find substantial initial earnings losses with incomplete recovery, with income remaining 46.5% below pre-unemployment levels after 24 months. Despite this persistent income gap, consumption responses are modest and comparable to countries with strong social safety nets, suggesting robust self-insurance mechanisms. We observe increased retirement among married …

Kartu Prakerja Program And Youth Employment: Gender-Specific Outcomes In Indonesia, Rizki Tri Anggara

Economics and Finance in Indonesia

The Kartu Prakerja Program is a form of the active labor market policy in Indonesia, serving as a significant initiative to enhance competencies and job opportunities, including for vulnerable groups such as the young and female labor force. This study aims to analyze the program’s impact on youth employment, with a focus on gender differences. Using Propensity Score Matching (PSM), the results show a significant positive effect on employment probability, particularly for women. The findings suggest that skills training and financial incentives play a crucial role in enhancing employability. The study recommends expanding program access to vulnerable groups and continuously …

Economic Impacts Of Industry Shifts: Evaluating The Decline Of The Coal Industry In Indonesia's Transition To Renewable Energy, Sebastian Ming Lopez

University Honors Theses

Worldwide usage of coal in energy production is declining. Agreements on carbon reduction and decreasing reliance on non-renewable energy systems are occurring at differing rates. Developed countries are quick to adapt and switch to renewable energy systems using their greater resources, technological advances, and government support. Developing countries however are at a disadvantage due to a lack of resources and prior investments in older, polluting, technology. This study aims to look at the potential effects of the decline of the coal industry within Indonesia, a fast-growing developing country that relies heavily on its coal sector. Indonesia as a country is …

How Did The Tax Cuts And Jobs Act Of 2017 Effect Small Businesses?, Jackson Pittman

Accounting Undergraduate Honors Theses

The Tax Cuts and Jobs Act (TCJA) of 2017 marked a significant overhaul of the United States tax system, promising to stimulate economic growth and enhance the competitiveness of American businesses. Amidst its broad-reaching reforms, the TCJA introduced several provisions directly impacting small businesses, aiming to alleviate their tax burdens and foster entrepreneurial activity. This thesis endeavors to evaluate the multifaceted effects of the TCJA on small businesses, examining its implications for their financial performance, investment behavior, and overall economic contribution.

Preliminary findings suggest that the TCJA has produced a generally positive result for small businesses. On one hand, reduced …

Economic Anomalies Following The Handover Of Hong Kong, Nathan Martin

Economics Undergraduate Honors Theses

This paper seeks to examine and provide a possible explanation for economic anomalies in Hong Kong following its handover to China. Hong Kong was on a 99-year lease to the United Kingdom from China before being handed back over July 1^st, 1997. Due to the “one country, two systems” policy espoused in the handover agreement that was to be implemented for fifty years, this event marks a rare natural experiment of a peaceful regime change without a significant change in governance. This paper seeks to understand the impact of the act of regime change on selected key macroeconomic …

Covid-19'S Consequences In Day-To-Day Life, Christian Mclain, Perla Guadalupe Vega

ENGL 1102 Showcase

This anthology discusses the consequences that the Covid-19 left. These drastic changes are still visible 4 years later, in two important sectors of Georgia's economy: the Work force and the housing market. These 2 sectors collide and merge with our daily life since they take up most of our time. Homes took on the roles of offices and schools as employees and students were forced to stay home due to the pandemic. Before and after Covid 19, everything changed from the criteria of buyers in the housing market, the inventory, the reasons why it is short, in addition to the …

Post Covid-19 Recovery In Mountain West Metros, Zachary Walusek, Vanessa Booth, Annie Vong, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data on the economic effects of the COVID-19 pandemic and recession on Mountain West metros. The original report includes data on economic activity, labor market, and real estate trends.

How Global Value Chains Affect Economic Output And Unemployment: An Empirical Evidence From Asean Countries, Sri Juli Asdiyanti Samuda

Bulletin of Monetary Economics and Banking

This paper examines the effects of Global Value Chains on economic output and unemployment in ten ASEAN countries from 1999 to 2018. This study provides estimation using the system GMM and panel causality test to determine the effect of GVC thoroughly. The results indicate a positive and significant effect of global value chains on economic output in ASEAN countries. However, the findings also show that global value chains increase unemployment during the observation period. Heterogenous panel non-causality findings suggest that economic output does not affect the level of participation of GVC, but unemployment affects the level of participation in ten …

Reemployment Services And Eligibility Assessments (Resea) In Maryland—Program Year 2020 Evaluation, Gabrielle Pepin, Christopher J. O'Leary, Kenneth J. Kline, Ting Zhang

Upjohn Institute Technical Reports

No abstract provided.

Reemployment Services And Eligibility Assessments (Resea) In Maryland—Plan For Annual Assessments With Incremental Improvements, Christopher J. O'Leary, Gabrielle Pepin, Ting Zhang

Upjohn Institute Technical Reports

No abstract provided.

County-Level Unemployment Dynamics Following The Covid Recession: The Effects Of Ppp Loan Take Up, Preston Antes

Honors Theses

The COVID-19 pandemic caused a nationwide shutdown, dragging the US into a recession. To combat the effects of the pandemic on the economy, Congress created the Paycheck Protection Program (PPP) with the focus of preserving jobs and providing liquidity to small businesses. PPP created low-interest, forgivable business loans with forgiveness tied to a few benchmarks, providing a de facto cash transfer to small businesses. Did PPP preserve jobs? When examining Mississippi, this paper shows that counties with high cyclical unemployment participated more intensely in the program. Furthermore, the research shows that as loan totals grew within a county, local labor …

Rethinking The "Phillips Curve" In Nigeria: Assessing The Unemployment-Inflation Nexus In A Non-Linear Framework, Oba Efayema Obukohwo, Hilda Enoh Olele

Bullion

The need to boost economic growth through policies that will simultaneously enhance employment and price stability cannot be overemphasized for a developing economy like Nigeria. This study thus seeks to ascertain the nexus between unemployment and inflation in Nigeria utilizing unemployment, and other control variables between 1980 and 2020 within a nonlinear framework, the study invalidated the inverse relationship. The study thus proposed that government should formulate and implement policies that will stimulate growth through an unemployment-inflation decelerating trajectory.

Essays On Entrepreneurship, Yoshiko Oka

Dissertations, Theses, and Capstone Projects

This dissertation explores the determinants of successful entrepreneurship and entrepreneurial entry. It consists of three chapters.

Chapter 1 estimates the effect of regional concentrations of related industrial firms and business owners' cognitive and non-cognitive traits on their business survival. Using data from the National Longitudinal Survey of Youth 1979 and the County Business Patterns, I find that incorporated businesses that operate in a location where similar businesses are clustered together have a significantly higher chance of survival. However, the effect of location appears to be insignificant for unincorporated businesses. On the other hand, the results show that businesses that are …

2023-1 The Macroeconomic Consequences Of Subsistence Self-Employment, Juan Herreno, Sergio Ocampo

Department of Economics Research Reports

We evaluate the aggregate effects of expansions of credit supply in environments where subsistence self-employment is prevalent. We extend a standard macro development model to include unemployment risk, which becomes a key driver of selection into self-employment. The model is consistent with the joint distribution of earnings and occupations, the reaction of wages to labor demand shocks, and the small effects of expansions in the supply of microloans on the earnings of the self-employed. We find that the elasticity of aggregate output to expansions in credit supply is proportional to the elasticity of individual earnings. This proportionality arises due to …

Part 1: Growth Returns, Now Make It Last, Dragas Center For Economic Analysis And Policy, Old Dominion University

State of the Region Reports: Hampton Roads

There is some good news to report. Hampton Roads gained population but population growth continues to slow. A record number of residents were at work or looking for work in 2023. A record number of residents of the region reported they were employed in 2023. The number of jobs continued to recovery from the depths of the 2020 economic shock, however, a full recovery may not occur until 2024. Economic growth sharply rebounded from the declines of 2020, and we expect growth to continue in 2023. The region’s economic performance, however, continues to lag many of its peers.

Opportunity Cost Of Student Loan Debt Forgiveness: Testing The Impact Of Four Policy Options On United States’ Economy, Emelia Akhlaghi

CGU Theses & Dissertations

Nearly 45 million Americans are trapped in a student loan debt. In total they owe more than $1.75 trillion. Research shows that such a high amount of debt harms the U.S. economy in several ways, preventing anything from small business development to new house purchases, and even weddings and procreation. It is an issue that stakeholders have tried to address by offering different relief measures ranging from re-financing to debt cancellation. Debt cancellation has remained high on the agenda of the Democrat political leadership. This is the reason that student loan debt cancellation was on the agenda of each democrat …

The Choice Of Technology In Economic Development, Lei Wen, Haiwen Zhou

Economics Faculty Publications

The impact of capital accumulation on job creation is an important and interesting issue in economic development. This model provides a general-equilibrium framework for studying technology choice with unemployment in a developing economy based on micro-foundations. Unemployment in the urban sector results from the existence of efficiency wages. Manufacturing firms engage in oligopolistic competition and choose technologies to maximise profits. A more advanced technology uses more capital and less labour. In the steady state, an increase in the amount of capital induces firms to choose more advanced technologies and the wage rate increases. While a higher capital stock always induces …