Econometrics Commons^™

Impact Of Covid-19 Pandemic On Performance Of Nigerian Stock Market, Shafiu Ibrahim Abdullahi

CBN Journal of Applied Statistics (JAS)

This study analyzes the effect of COVID-19 pandemic on the performance of Nigerian stock market. The study uses a number of models that include autoregressive distributed lag, vector auto regression, exponential generalized autoregressive conditional heteroskedasticity and multivariate generalized autoregressive conditional heteroskedasticity models. Findings show that reported cases of COVID-19 have causal effect on daily returns of the Nigerian stock market. The results also show that Nigerian stocks are good for portfolio diversification. The results of variance decomposition confirm the declining importance of COVID-19 cases and deaths as the pandemic slows down. Further results show that, for the duration of the …

What The Stork Brought: Endogenous Fertility Preferences, Lucas Fortier Borden

Master's Theses

Where most existing literature on fertility preferences has described how fertility preferences shape outcomes, this paper provides insight into how the sex of a recent birth affects a mother’s fertility preferences. Utilizing data from the Demographic Health Survey from 1985-2020 in 81 countries containing 309,238 mothers who gave birth in the past 12 months and who have equal to or fewer than three children, I employ OLS with two-way fixed effects as my primary specification, examining the effects of the plausibly exogenous sex of a recent birth on sibship sex composition preferences. Results show that a recent daughter birth increases …

Leveling Up Financial Literacy: Evidence From Game-Based Intervention With Aspiration Treatment Amongst Rural Women In India, Akash Shaji

Master's Theses

In India, rural women exhibit notably low financial literacy levels, necessitating effective and scalable educational interventions. Our randomized controlled trial evaluated a novel approach, combining game-based financial literacy education with a video documentary-based aspirations intervention, targeting women in self-help groups in Karnataka. The study included 348 participants and employed an ANCOVA model adjusted for clustering to analyze the effects. The results demonstrate significant improvements in financial literacy and aspirations, particularly when interventions are combined. The game-based intervention alone significantly enhanced digital literacy, financial confidence, and behavioral indices such as agency, pathways, and aspirations. The aspirations intervention also independently affected financial …

Jargon To Jackpot: The Financial Impact Of Infusing Pop Culture References In Social Media, Madelynn Solow

Business and Economics Honors Papers

This research explores the impact of incorporating pop culture references in a company's Twitter feed on the company's stock price. Pop culture is integral to people's everyday lives, providing a sense of familiarity and fun between individuals. Many companies have started leveraging pop culture references on social media platforms like Twitter to establish a relatable and engaging connection with diverse consumer demographics. The primary purpose of this research is to investigate whether this strategy is beneficial within the stock market. It is hypothesized that incorporating pop culture references on Twitter can lead to increased sales and higher stock prices, as …

Housing Markets Since Shapley And Scarf, Mustafa Oguz Afacan, Gaoji Hu, Jiangtao Li

Research Collection School Of Economics

Shapley and Scarf (1974) appeared in the first issue of the Journal of Mathematical Economics, and is one of the journal’s most impactful publications. As we approach the remarkable milestone of the journal’s 50th anniversary (1974–2024), this article serves as a commemorative exploration of Shapley and Scarf (1974) and the extensive body of literature that follows it.

Horizontal Economic Inequality And Mass Atrocity Risk: A Large-Sample Empirical Inquiry, Charles H. Anderton, Roxane A. Anderton

Genocide Studies and Prevention: An International Journal

Our research question is: Does inter-group horizontal economic inequality elevate state-perpetrated mass atrocity risk? Theoretical perspectives in genocide studies show how economic and other forms of discrimination against ethnic or religious groups can elevate the risk of government violence against them. Among the approximately five dozen large-sample empirical studies of mass atrocity risk, only a few consider the effects of economic discrimination. Moreover, no large-sample empirical studies, to the best of our knowledge, test hypotheses related to how inter-group horizontal economic inequalities (as distinct from vertical economic inequalities based on GINI coefficients or quantile income or wealth measures) affect mass …

Improving American Men's Quality Of Life By Economically Empowering American Women, Margot Rosenblatt

Scripps Senior Theses

In this paper, I explore the relationship between women’s economic empowerment and men’s quality of life in the United States. I created an index of women’s economic empowerment based on county-level data on labor force participation rates, rates of pay, teen birth rates, and families in which a woman is the primary income earner. I then created an index of men’s quality of life based on financial, physical, and mental health indicators. Adjusting for income, dominant industry type, age, population density, race variables, and environmental factors, I found a statistically significant positive correlation between women’s economic empowerment and men’s quality …

Heat & Social Cooperation: The Effects Of Thermal Stress On Altruism, Alexander J. Courtman

Master's Theses

Recent literature has highlighted the effects of temperature on economic outcomes and violence in humans, on both the interpersonal and intergroup levels: as temperatures rise, humans are more likely to exhibit increased aggression and agitation. However, little research has been done on how pro-social behaviors like cooperation and altruism among humans might respond to increased temperatures. As extreme heat events increase in frequency, will humans and communities work together in the face of adverse shocks and crises? Leveraging experimental data collected randomized controlled trails held in 4 locations across the world, this paper seeks to establish a relationship between thermal …

Modelling The Naira Exchange Rate Dependence Using Static And Time-Varying Copula, Kabir Katata

CBN Journal of Applied Statistics (JAS)

This paper examines the dependence structure of different currencies versus the Nigerian Naira using constant and time-varying copula. Daily Naira/USD, Naira/Yuan, Naira/Pound, and Naira/Euro exchange rates from 23 December 2011 to 12 May 2020 were utilised. We fitted eight constant and time-varying copula families using the exchange rate standardised residuals. The study finds that the Naira exchange rate may be estimated with student t-copula, Symmetrized Joe-Clayton (SJC), or Rotated Gumbel copula models and Autoregressive (AR)– Glosten Jagannathan RunkleGeneralized Autoregressive Conditional Heteroscedastic (GJR-GARCH) (1,1) models with skewed t residuals for margins. The Naira exchange rate returns is timevarying, tail-dependent, and asymmetric. …

External Debt Pass-Through To Inflation In Nigeria, Emmanuel A. Asue, James V. Ikyaator

CBN Journal of Applied Statistics (JAS)

This study examines external debt pass-through to inflation in Nigeria using annual data from 1981 to 2020 based on structural vector autoregressive (SVAR) model. The results reveal that an increase in external debt service leads to a significant depreciation of the exchange rate, which leads to a contemporaneous increase in inflation, while the direct response of inflation to external debt is statistically not significant. The impulse response confirms these results. The forecast error variance decomposition depicts that future values of official exchange rate depend on external debt, inflation and external debt service. The study recommends that the Nigerian government should …

Financial Inclusion And Poverty Reduction In Nigeria: The Role Of Microfinance Institutions, Okwudili W. Ugwuoke, Oliver E. Ogbonna, Aye-Agele Freeman

CBN Journal of Applied Statistics (JAS)

This study investigates the role of microfinance institutions as a vehicle for driving financial inclusion and alleviating poverty in Nigeria using the EFinA 2018 household survey data. The probit model, propensity score matching, and average treatment effect methods are applied for the analyses. The study finds that financial inclusion driven by access to, and usage of products/services provided by microfinance institutions reduces poverty. The study recommends among others the need for increased access to microfinance products/services and an integrated poverty reduction policies that identifies microfinance institutions as a critical enabler

Per Capita Gdp’S Potential Effect On The Percentage Of Children In Foster Care, Jenna Mcclain

Honors College Theses

Few studies have been conducted on the presence of a direct connection between per capita gross domestic product (GDP) and the percentage of children in foster care in a given region. GDP is a known indicator of economic growth (Powers, 1995; Roshaniza & Selvaratnam, 2015), as is a child’s potential for foster care placement associated with a parent or family’s financial status (Bald et. al, 2022; Barth et. al, 2010). Poverty is the bridge in many of these scenarios – low GDP can be indicative of higher poverty rates, and financial hardship under poverty classification can lead to child maltreatment …

Will The Philippine Development Plan 2023-2028 Targets Be Met?, Jesus Felipe

Angelo King Institute for Economic and Business Studies (AKI)

EARLY THIS YEAR, President Ferdinand Marcos, Jr. signed the Philippine Development Plan 2023-2028 (PDP). The document contains hundreds of targets. Some of the key targets to be attained by 2028 are as follows (in fact, the Plan provides yearly targets):

1.) an annual growth rate of 6.5-8% (since 2024); 2.) a gross national income per capita of $6,044-$6,571 (50% higher than that in 2023); 3.) inflation between 2%-4% (from 2.5%-4.5% in 2023); 4.) a government fiscal deficit of 3% (from 6.1% in 2023); 5.) a debt-to-GDP ratio of 48%-53% (from 60%-62% in 2023); 6.) an unemployment rate of 4%-5% (from …

Are There Differences In Household Borrowing Across Religions?, Seth Dunn

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This study explores the relationship between religion and economic behavior, specifically asking whether variations in household borrowing can be attributable to identification with different Christian religious traditions across the United States. The hypothesis of different borrowing behaviors across religions is motivated historically and theoretically. Historical data from l967 and 1971 are used in ordinary least squared and logistic regression analyses. Density of religious affiliations and relevant controls are used to predict households’ debt and attitudes towards different reasons for borrowing. Some differences across religions are found. This research contributes to a broader literature exploring the impact of religion on economic …

Understanding Factors Influencing Electric Vehicle Adoption: Evidence From Panel Data Analysis, Ryker Brian

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This paper investigates the factors influencing the adoption of electric vehicles (EVs) using panel data from California. The analysis employs a panel data model with within effects to examine the relationship between EV adoption rates and various socio-economic factors. The continued analysis gives out-of-sample forecasted results for the 4 counties with the highest share of electric vehicles registered in 2021. Additionally, the paper explores the influence of supply-side issues and complementary infrastructure on EV adoption. An introduction to Hidden Markov Methods is then given as the next step in the research.

Monitoring The Philippine Economy State Of The Economy Report, Mitzie Irene P. Conchada, Lawrence B. Dacuycuy, Jesus Felipe, Desher Edgar Empeño, Brendan Emmanuel A. Miranda

Angelo King Institute for Economic and Business Studies (AKI)

The Philippine economy recovered from the COVID-19 pandemic during 2022. It posted a very high annual growth rate, 7.6%, although this must be understood in the context of a low base. AKI’s State of the Economy Report focuses on three issues in the context of the new Administration’s 8-Point Socioeconomic Agenda and the Philippine Development Plan 2023-2028: growth, inflation, and the fiscal deficit and national debt. Overall, we have a positive view of the economy over the medium and long-term. However, we argue that:

-The focus of economic policy has to shift decisively toward changing the structure of the economy …

The Impact Of Upzoning On Housing Construction In Auckland*, Ryan Greenaway-Mcgrevy, Peter C. B. Phillips

Research Collection School Of Economics

There is a growing debate about whether upzoning is an effective policy response to housing shortages and unaffordable housing. This paper provides empirical evidence to further inform debate by examining the various impacts of recently implemented zoning reforms on housing construction in Auckland, the largest metropolitan area in New Zealand. In 2016, the city upzoned approximately three quarters of its residential land to facilitate construction of more intensive housing. We use a quasi-experimental approach to analyze the short-run impacts of the reform on construction, allowing for potential shifts in construction from non-upzoned to upzoned areas (displacement effects) that would, if …

Dynamic Effect Of Exchange Rate Gap Shocks On Stock Market Deepening: Evidence From Nigeria, Kareem Abidemi Arikewuyo

CBN Journal of Applied Statistics (JAS)

The study examines the exchange rate gap shock–stock market deepening nexus in Nigeria using the structural VAR-X (SVAR-X) technique for the period 1986Q1 to 2018Q4. Findings reveal that exchange rate gap shock has a negative but statistically not significant effect on stock market deepening in Nigeria. It was also found that exchange rate passed–through interest rate from second to thirteen quarter, and further through financial openness whose effect, like exchange rate gap, was negative. This implies that exchange rate gap is significantly and negatively related to interest rate and financial openness in Nigeria. It is therefore recommended that the monetary …

Modelling The Impact Of Government Expenditure On Economic Growth In Nigeria: The Moderating Effects Of Oil And Non-Oil Revenue, Victor U. Ijirshar, Gaius M. Asombo, Florence D. Bundepuun, Ashifa Tersugh, Ayila Ngutsav

CBN Journal of Applied Statistics (JAS)

This study examines the relationship between government expenditure and economic growth and assesses the moderating effects of oil revenue and non-oil revenue in Nigeria from 1981 to 2021. The study uncovered short-term asymmetry in the government expenditure-economic growth nexus while the long-term relationship was symmetric. The study found that government expenditure is a significant determinant of economic growth in Nigeria and that oil and non-oil revenue influences the nexus between government expenditure and economic growth in Nigeria positively. The study recommends efficient management of oil revenue, directing investments during high revenue periods and ensuring fiscal sustainability. Government should also establish …

Improving The Efficiency Of Exponential Ratio-Type Estimator For Population Median: A Calibration Weight Adjustment Approach, Mathew J. Iseh, Kufre J. Bassey

CBN Journal of Applied Statistics (JAS)

This paper modifies the Bahl and Tuteja exponential ratio-type estimator for population median under simple random and stratified sampling schemes using calibration weight adjustment technique with supplementary information to vary the stratum weights. The bias and mean square error of the modified estimator were obtained up to the second-order approximation, which satisfies the necessary conditions for efficiency. The findings show that the new estimator surpasses existing estimators in efficiency gain. This suggests the appropriateness of calibration weight modification in boosting the efficiency of a population parameter estimator under stratified random sampling especially where the population parameter of the auxiliary variable …

The Effect Of Television Advertising On Gambling Behaviour: A Quasi-Experimental Study During The 2022 Qatar Fifa World Cup, Ellen Mcgrane, Rob Pryce, Matt Field, Elizabeth Goyder, Luke Wilson

International Conference on Gambling & Risk Taking

Abstract

Introduction:

The pervasiveness of gambling advertising and its relationship with football have been identified as areas of concern in the UK. Following the liberalisation of advertising laws in the 2005 Gambling Act, there has been increasing recognition of its public health impact. To date, there is a lack of evidence of the impact of advertising on behaviour in “real-world” settings.

Methods:

This study employs a natural experiment measuring the impact of television gambling advertising on the frequency of impulsive football bets placed during the World Cup. Longitudinal betting data collected from a sample of men (aged 18-45) will be …

Reducing Recycling Contamination Using An Information Nudge, Mimi Rivette

LSU Master's Theses

Recycling contamination is a central challenge to recycling programs but is infrequently studied due to the difficulty of measuring contents and the inconvenience of sorting through recycling bags by hand. We conducted two simultaneous experiments to address both the issue of recycling contamination and the infrequency of its study at Louisiana State University in Fall 2021. We implemented two signage treatments, the first explicitly instructing passersby not to recycle a short list of common recycling contaminants, including Styrofoam, food wrappers, plastic bags, and face masks, and the second generally encouraging recycling but excluding specific instructions on what to recycle. To …

Tempers Rising: The Effect Of Heat On Spite, Jake C. Cosgrove

Master's Theses

The relationship between heat and harmful outcomes is well documented, with research connecting various adverse economic outcomes to the climate. In the presence of increasing global warming and climate change, understanding why the climate leads to negative economic outcomes is essential for forming peaceful institutions of the future. We study how behavioral economic outcomes change in the presence of heat through a lab experiment involving 1,110 observations conducted in five different countries. This paper specifically focuses on the social preference outcome of spite. We find that increased time exposure to the treatment effect of heat is required to elicit an …

Charity Begins At Home: Investigating How Culture Shapes In-Group Bias In Altruistic Behavior, Angira Shukla

Master's Theses

The paper builds a structural model of altruistic transfers based on identity matches with another individual and estimates the weights that people place on the characteristic matches. We also take a comparative look at the role of culture in these transfers. The culture here is trying to contrast a traditional society versus a cosmopolitan one. I run an experiment in India to examine these differences. I find that in both the urban and rural samples individuals tend to give more to girls and donate largely on the basis of the need of the receiver. I also find that the rural …

Feeling The Heat: Heterogeneous Treatment Effects Of Heat On Human Cooperation, Scott K. Klaus

Master's Theses

The goal of this paper is to examine how increased temperatures affect human behavior in terms of cooperation. Currently, there is an abundance of literature regarding increased aggression in humans as temperatures rise. However, there is ambiguity concerning whether a similar effect exists in altering levels of cooperation in human interactions. Additionally, people of different characteristics may be influenced by heat at varying levels. First, we run a baseline model of prosociality on different heat measurements, such as standard and wet-bulb temperatures. Included in this model are experimental specification variables, a “trigger”, and characteristics. The trigger is defined as losing …

Sweet And Timely Insurance: The Role Of Honey In Reducing Coffee Producer Food Insecurity Exposure In Mexico, Grant Xavier Storer

Master's Theses

Smallholder coffee producers face a combination of pre- and post-harvest risk factors that leaves them particularly vulnerable to food insecurity. A popular form of on-farm diversification is honey production through beekeeping, that has both nutritional and commercial value. This study investigates the role of honey production as means of food security management due to the heightened pollinating activity during the coffee flowering stage that follows the annual coffee harvest provides an additional non-contemporaneous source of income. Using primary data collected in coffee-producing regions of Chiapas, Mexico, I find that during the honey harvest months, which occurs during the early stage …

Impacts Of Rising Temperatures On Human Behavior With A Focus On Gender Differences, Stephanie Marie Emilia J. Hermoso

Master's Theses

Climate change is one of the biggest and most pressing issues the world is facing today. While its economic implications are substantial, it is also important to investigate the effects of climate change on human behavior. This paper examines the relationship of rising temperatures and its effect on an individual’s cooperative behavior – specifically egalitarianism, generosity, selfishness, and spite. This study will focus on the differences between how males and females react to the temperature. Research indicates that there are substantial behavioral differences between men and women. How do the economic decisions of men and women differ when interacted with …

Multivariate Econometric Regression Of Factors That Determine Form Of Disposition Of Human Remains Using Archival Death Certificates, Salt Lake County, Utah, Delphine T. Feigenbaum

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

This project considers the inescapable and burgeoning issues concerning the long-term allocation of scarce natural resources between the living and the deceased. America’s population growth will demand more space and maintenance resources used for disposition. To meet the forthcoming exigencies, economic planners need to address natural resource availability for future generations while incorporating sustainable and innovative technologies to prohibit environmental injustice.

The goals are to answer the following questions: How do demographical variables, age and sex influence the choice of disposition? How do cause of death variables influence the choice of disposition? I also evaluate the hypothesis that the average …

Consumers And Eco-Labels: A Quantitative Analysis Of The Effects Of Various Sustainability Certification Models On Consumer Opinions, William F. Joseph

Senior Theses

This research consists of an econometric analysis of the efficacy of a privatized sustainability certification model versus a proposed government-endorsed sustainability certification model within the United Sates market. Today, the widely accepted model of sustainability certification is constituted by a large market of private certifiers. By analyzing the effects of the current model and alongside the effects of a hypothetical government-endorsed system on consumer preferences for sustainably produced goods, the thesis aims to motivate further discussion into the possible benefit of adopting a government-sponsored sustainability certification system. In general, analysis of the data suggests much more promising and significant effects …

Effects Of The Raising The Minimum Legal Purchasing Age For Tobacco On Cigarette, Cocaine And Inhalant Consumption, Ahmed Adil

Theses and Dissertations

Over the past few years, several states have passed laws that increase the minimum legal purchasing age (MLPA) for tobacco from 18 to 21 years. This study examines the impact of statewide MLPA laws on youth tobacco consumption. Using data from the 2009-2019 Youth Risky Behavior Surveys (YRBS) and a difference-in-differences approach, I find that the enactment of MLPA laws is associated with a decrease in tobacco usage among adolescents. I also find that MLPA laws have important spillover effects to other youth risky behaviors. MLPA law adoption is associated with a reduction in cocaine use and inhalant abuse.