Economics Commons^™

The Reallocation Effects Of Domestic Outsourcing, Mayara Felix, Michael B. Wong

Cowles Foundation Discussion Papers

This paper estimates the wage, employment, and reallocation effects of non-core activity outsourcing using Brazil’s unexpected 1993 court-ordered outsourcing legalization. We leverage North-South variation in pre-legalization court permissiveness and compare security guards to less affected occupations. We find that older incumbent security guards were adversely impacted through occupational layoffs, loss of firm-level wage premia, and exit from the occupation. At the same time, increased numbers of younger workers entered the formal sector and became employed at contract firms. On net, legalization increased guard employment by 5%, led by a 50% increase in employment for guards aged 18-24, and had no …

Exploring The Motivations And Determinants Of Farmer’S Market Consumers And Organic Specialty Crop Producers, Jane Arnold

All Theses

This two-chapter thesis evaluates the motivations and determinants of the central figures in farmers’ markets and organic markets. The first chapter explores the rise of farmers’ markets popularity through an in-person survey that was designed and distributed to 274 farmers' market consumers. Logit and ordered logit regressions were used to identify the motivations and characteristics that affect the likelihood of being a frequent farmers’ market customer (visiting 5 times or more per season) and spending over $50. The second chapter investigates the organic markets for cucumber and kale, which are dominant specialty crops on today’s grocery shelves. To identify the …

American Rescue Plan Act (Arpa) Local Government Investments In Nevada, Sean Curry, Madison Dwyer, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data from the Brooking Institution’s Local Government ARPA Investment Tracker, an online database that tracks the spending of American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Fund dollars at the local government level. This fact sheet examines ARPA spending data from six Nevadan cities and counties: Washoe, NV; City of North Las Vegas, NV; City of Las Vegas, NV; City of Reno NV; City of Henderson, NV; and Clark County, NV.

A Cross-Country Analysis Of China’S Belt And Road Initiative, Leah Shoff

International Studies (MA) Theses

China established The Belt and Road Initiative in 2013 to unite the global economy as well as bolter their own political and economic interests. Though the initiative is relatively new, it is important to understand how the Belt and Road Initiative could impact the global economy. This program is open to any country in the world that seeks to improve its infrastructure. However, critics of China’s proposal have questioned whether countries participating in the program gain economically. Through evaluating the relationship between GDP, time, and other significant data provided by the IMF, a cross-country comparison between Pakistan and the Philippines …

Essays On Networks And Gender Dynamics In Corporate Finance, Xiaonan Wei

Graduate Theses and Dissertations

In my dissertation, I explore the effect of networks and gender dynamics on corporate finance. In my first essay, I examine the effects of personal network on insider trading decisions. Using COVID-19 as a shock to test personal network effect, I find individuals were influenced by information about COVID-19 provided by the members of their personal networks. S&P 1500 insiders whose personal networks contained higher fractions of socially connected individuals from countries affected by early stages of COVID-19 were more likely to sell shares of their firms in the period preceding the U.S. stock market decline, and they are less …

How Can Cbdcs Be Designed To Drive Financial Inclusion?, Heng Wang

Research Collection Yong Pung How School Of Law

As a new form of national currency, central bank digital currencies (CBDCs) hold the potential to be a transformative innovation that can enhance financial inclusion. However, the realization of this potential is very much contingent on their design. The realization of the benefit is also influenced by the barriers to financial inclusion that were identified in our first blog such as financial literacy, digital divide, and complexity.

More Autonomy For Frontline Workers Supports Higher-Paying Jobs, Dylan Nelson, Nathan Wilmers, Letian Zhang

Upjohn Institute Policy and Research Briefs

No abstract provided.

Covid-19: Change In Adjusted Gross Income From Net Migration In Nevada, 2020-2021, Ayda Atici, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This fact sheet examines data on changes in taxable income and net average income as a result of net migration for each county in Nevada during the COVID-19 pandemic (from 2020 to 2021). The data illustrate which Nevada counties experienced increases in taxable income and average income, and which counties experienced losses. The data are retrieved from “Tax Data Reveals Large Flight of High Earners from Major Cities During the Pandemic,” an interactive data report by the Economic Innovation Group.

Coupling And Decoupling Of Ancestral Linkages And Current Cross-Border Economic Activities: Genetics And Policy, Suparna Chakraborty, Miao Grace Wang, M.C. Sunny Wong

Economics Faculty Research and Publications

This paper studies the potential link between the biological evolution of populations and present-day economic interactions by estimating the correlation of shared ancestry among populations with cross-border capital and human flows. To this end, we employ the new concept of genetic distance, based on (dis)similarity of neutral gene alleles, to quantify shared ancestry. We then incorporate the genetic distance measure into an augmented gravity model, traditionally used to analyze the effect of geographical distance on bilateral exchange. Our analysis focuses on bilateral foreign direct investment (FDI) and migration across 135 countries and we use both linear regression techniques as well …

A Robust Optimization Approach To Mechanism Design, Jiangtao Li, Kexin Wang

Research Collection School Of Economics

We study the design of mechanisms when the mechanism designer faces local uncertainty about agents’ beliefs. Specifically, we consider a designer who does not know the exact beliefs of the agents but is confident that her estimate is within ϵ of the beliefs held by the agents (where ϵ reflects the degree of local uncertainty). Adopting the robust optimization approach, we design mechanisms that incentivize agents to truthfully report their payoff-relevant information regardless of their actual beliefs. For any fixed ϵ, we identify necessary and sufficient conditions under which requiring this sense of robustness is without loss of revenue for …

Essays In Industrial Organization And Regulation, Micah D. Thomas

All Dissertations

This dissertation is comprised of two essays; in the first, I develop a model to show that when there is a sufficiently large segment of uninformed consumers and an existing norm regarding the advertising of bundled good prices that price obfuscation through base good advertisements can be both: (1) profit maximizing, and (2) result in an equilibrium where only some firms obfuscate. I provide the first empirical evidence of this setting by estimating the increase in prices charged by retail gasoline stations, finding a statistically and economically significant obfuscating premium of 5-7 cents per gallon. I also provide evidence of …

Geographic Links And Predictable Returns, Zuben Jin, Frank Weikai Li

Research Collection Lee Kong Chian School Of Business

Using establishment-level data of U.S. public firms, we construct a novel measure of geographic linkage between firms. We show that the returns of geography-linked firms have strong predictive power for focal firm returns and fundamentals. This effect is distinct from other cross-firm return predictability and is not easily attributable to risk-based explanations. It is more pronounced for focal firms that receive lower investor attention, are more costly to arbitrage, and during high sentiment periods. The cross-firm information spillovers and return predictability are also stronger for geographic peers with economic linkages and with positive information. Our results are broadly consistent with …

Evaluating Margin Protection (Mp) Crop Insurance As A Risk Management Tool For Rice Producers In Arkansas, Kaleem Azmat Chattha

Graduate Theses and Dissertations

Agricultural producers bear many risks, including production risks stemming from uncertainty in weather and pest pressure and price risks arising from market volatility. Federal Crop Insurance has become one of the most popular tools to manage these risks. While yield and revenue crop insurance tend to be the most popular production and price risk management tools provided by the government, participation in Margin Protection insurance lags far behind despite providing production, crop price, and input price risk protection. This study aims to uncover whether Margin Protection crop insurance is an effective risk management tool by estimating the optimal coverage level …

The Law Of General Average, Luca Anderlini, Joshua C. Teitelbaum

Georgetown Law Faculty Publications and Other Works

Part of a ship's cargo is jettisoned in order to save the vessel and the remaining cargo from imminent peril. How should the loss be shared among the cargo owners? The law of general average, an ancient principle of maritime law, prescribes that the owners share the loss proportionally according to the respective values of their cargo. We analyze whether the law of general average is a truthful and efficient mechanism. That is, we investigate whether it induces truthful reporting of cargo values and yields a Pareto efficient allocation in equilibrium. We show that the law of general average is …

Three Essays On Financial Economics And Monetary Policy, Kumadebis Tamiru Gemechu

Dissertations

This dissertation comprises three independent essays that contribute to understanding the impacts of monetary policy announcements on financial markets and the banking industry.

The first essay studies a natural language analysis of FOMC statements to identify monetary policy and its effects on financial markets. Using structural topic modeling, in the first essay I identify three dimensions of Fed monetary policy announcements: inflation outlook, state of the economy, and policy stance factors. This article focuses on the qualitative information released by the Fed through the FOMC statement, which has previously been overlooked in favor of quantitative communication such as the Green …

Introduction To The Special Issue

Midwest Social Sciences Journal

No abstract provided.

Mission And Editorial Policy

Midwest Social Sciences Journal

No abstract provided.

Spaces Of Progress And The Challenge Of “Mindfulness” In A Postcolonial World, M. Satish Kumar

Midwest Social Sciences Journal

Progress implied both change and improvement in the colonial and postcolonial world. Such a concept of progress came to be enshrined in specific geographical places. The notions of development and underdevelopment in the postcolonial context thereafter supplanted this idea. Over time, while the structures of colonial domination dissolved, those of embedded regional inequalities came to be deeply entrenched, thereby urging for Thich Nhat Hanh’s approach to “mindfulness” in a “postcapitalist,” postcolonial world. The key question is whether postcolonialism has reached an impasse in its delivery and deployment of ideas across the widening gulf between the spaces of progress and stagnancy. …

Notes On The Future Possibilities Of Engaged Anthropological Research: Why Decolonizing Anthropology Needs Black Diasporic Feminist Theory And Methodologies, Meryleen Mena

Midwest Social Sciences Journal

While in the past decade there have been more ethnographic accounts that shed light on minoritized stories and demystify the specific challenges that women and femmes experience during their research, much is desired to prepare students and junior scholars from marginalized identities for fieldwork research. Reflecting on a moment of precarity in the context of pre-impeachment São Paulo, I explain why the integration of Black diasporic feminist thought, method, and praxis is critical to further decolonizing efforts in anthropology. Beyond reflection, this narrative calls for sustained politically active engagement to establish an anthropology of liberation.

Author Biographical Notes

Midwest Social Sciences Journal

No abstract provided.

Gradient Wild Bootstrap For Instrumental Variable Quantile Regressions With Weak And Few Clusters, Wenjie Wang, Yichong Zhang

Research Collection School Of Economics

We study the gradient wild bootstrap-based inference for instrumental variable quantile regressions in the framework of a small number of large clusters in which the number of clusters is viewed as fixed, and the number of observations for each cluster diverges to infinity. For the Wald inference, we show that our wild bootstrap Wald test, with or without studentization using the cluster-robust covariance estimator (CRVE), controls size asymptotically up to a small error as long as the parameter of endogenous variable is strongly identified in at least one of the clusters. We further show that the wild bootstrap Wald test …

The Interaction Effects Of Fintech And Bank Lending On Growth: Evidence From The Asean Region, Tan Swee Liang

Research Collection School Of Economics

This study examined the interaction effects of traditional bank lending and emerging fintech credit on economic growth in six ASEAN economies from 2013 to 2020. Using a two-way fixed effects (FE) model and the panel-corrected standard error (PCSE) method, the study found a statistically significant and positive interaction effect between bank lending and fintech credit. Specifically, fintech credit became increasingly important in shaping economic growth as bank lending ratios exceeded a certain threshold. Countries with high bank lending ratios experienced greater GDP per capita growth when accompanied by greater fintech credit. These findings suggest that policies supporting fintech development alongside …

Value Capture And Affordable Housing: Insights From Singapore, Sock Yong Phang

Research Collection School Of Economics

To explain the role of value capture in Singapore’s progress, I will first provide some background information on Singapore and its housing sector. I will then take you on a journey back to the 1960s to show how we established our present institutional arrangements for land and housing. I will next describe how housing policies have evolved over the past six decades in response to changing contexts. Finally, I will conclude with the fiscal implications of successful value capture. Where relevant, I will indicate how Singapore’s policies align with George’s views.

Digital Payments And Consumption: Evidence From The 2016 Demonetization In India, Sumit Agarwal, Pulak Ghosh, Jing Li, Tianyue Ruan

Research Collection School Of Economics

We study how consumer spending responds to digital payments, using the differential switch to digital payments across consumers induced by the sudden 2016 Indian Demonetization for identification. Usage of digital payments rose by 3.38 percentage points and monthly spending increased by 3% for an additional 10 percentage points in prior cash dependence. Spending remained elevated even when cash availability recovered. Robustness analyses show that the spending response is not driven by income shocks, credit supply, price changes, or consumers' moving to the formal market. We provide evidence that digital payments increase consumer spending due to subdued salience.

Supply Chains Shocks, Network Linkages, And Economic Outcomes, Romeo Eric Neuyou Nana

Graduate Theses and Dissertations

One prominent consequence of the Covid-19 pandemic was the disruption of critical parts of the global supply chain. In the U.S., delays at ports and shortages of critical inputs such as semiconductors have negative ripple effects across the economy. This situation prompts a surge of interests from academics, business leaders, and policy makers alike. However, the evidence of the quantification of supply chain disruptions’ impact and its drivers on economic variables are still scant. In this essay, I investigate the extent of the impact of supply chain shocks on the U.S. economy and the mechanisms through which they affect economic …

Statement From The Indiana Academy Of The Social Sciences And Board Of Directors

Midwest Social Sciences Journal

No abstract provided.

Volume 26, Issue 2 (Special Issue) -- Full Contents

Midwest Social Sciences Journal

No abstract provided.

Guest Editor's Note, Rajiv Thakur

Midwest Social Sciences Journal

No abstract provided.

The Decline Of Republican Democracy And Rise Of The Techno-Authoritarian State: Reading Dystopian Novels In Hindi Literature, Manindra Nath Thakur

Midwest Social Sciences Journal

In the past few decades, the nature of capitalism has changed fast as it has lost its philosophical justification based on the principle of the common good. There have been many avatars of the idea of the “common good”: “white man’s burden to civilize the world,” “welfarism,” and “neoliberal concept of freedom of choice.” Capitalism now seems to have moved in a new direction, however, and it has failed to produce any further philosophical justification for its existence as a mode of production despite generating unprecedented economic inequality. Consequently, there is a rising tension between capitalism and democracy in societies …

Economic Development In Legacy Cities: Current And Emerging Challenges And Opportunities, Neil Reid, Sujata Shetty, Jane Adade

Midwest Social Sciences Journal

As manufacturing employment has declined in the traditional manufacturing regions over the past decades, many communities have experienced population loss and overall economic decline. Local economic development professionals have had to grapple with long-term structural changes in the economy as well as short-term jolts. To gain insights into the changing landscape of economic development, we interviewed economic development practitioners in Indiana, Michigan, Ohio, and Pennsylvania. The interviews focused on their perception of current and emerging challenges and opportunities with respect to economic development in their respective communities. Having identified the major challenges and opportunities, we asked them to articulate the …