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Articles 91 - 111 of 111
Full-Text Articles in Econometrics
Mergers & Abenomics: The Determinants Of M&A In Japan's New Economy, Ethan S. Hallberg
Mergers & Abenomics: The Determinants Of M&A In Japan's New Economy, Ethan S. Hallberg
CMC Senior Theses
This paper investigates the influence of various macroeconomic variables on Japan’s merger and acquisition (M&A) activity, both in terms of total deal value and total number of deals. Looking at monthly data from June 1997 to December 2013, I use econometric time-series analysis to find that: First, total deal value per month is not well explained by our macroeconomic variables, but about half of the variation in number of deals per month can be explained by our dataset. Second, the most important determinant in the total number of deals per month during our period is the level of national debt, …
The Existence Of State Dependence And Switching Costs In The Transition From Myspace To Facebook, Taryn M. Ohashi
The Existence Of State Dependence And Switching Costs In The Transition From Myspace To Facebook, Taryn M. Ohashi
Scripps Senior Theses
In this paper, I examine the existence and roles of state dependence and switching costs in the mass transition from MySpace to Facebook during the 2007-2008 time period. Using a dataset that compiles individual browsing behavior and a discrete multinomial logit model, I find precise, yet extremely small amounts of state dependence for users of only MySpace, of only Facebook, and users of both MySpace and Facebook. Positive state dependence directly implies the existence of switching costs for each firm. While there is an abundance of literature regarding switching costs in the brick and mortar setting with tangible products and …
How Many Barack Obamas Does It Take: An Analysis Of The Effect Of Charter Schools On Real Estate And Crime, Aananditaa Kakkar
How Many Barack Obamas Does It Take: An Analysis Of The Effect Of Charter Schools On Real Estate And Crime, Aananditaa Kakkar
CMC Senior Theses
This study looks at the relationship between charter school presence and neighborhood quality in Los Angeles. Using data from the Los Angeles Department of Education, Zillow Real Estate, and the Los Angeles Sheriff, this paper attempts to find whether changes in charter presence influence the price of surrounding real estate or the occurrence of serious and petty crimes. The results find that charter schools tend to be associated with a decrease in home sale prices. The results on crime imply that crime increases upon the opening of charter schools, however they are statistically insignificant.
Explaining The “Explained”: An Examination Of The Gender-Based Education Gap In India And Its Impact On The Wage Gap, Kanupriya Rungta
Explaining The “Explained”: An Examination Of The Gender-Based Education Gap In India And Its Impact On The Wage Gap, Kanupriya Rungta
CMC Senior Theses
Analysis of the National Sample Survey Data from 2011-2012 shows that a gender-based education gap exists. Women are more likely than men to be illiterate. Some parents continue to view household duties as more important than education in the case of girls, causing some to drop out in primary and middle school, which leads to lower experience accumulation. However, females are almost equally as likely as males to be enrolled in school, and an equal proportion of males and females earn higher education degrees. More importantly, the difference in resource allocation seems to be minimal. Although education has a strong, …
State Level Earned Income Tax Credit’S Effects On Race And Age: An Effective Poverty Reduction Policy, Anthony J. Barone
State Level Earned Income Tax Credit’S Effects On Race And Age: An Effective Poverty Reduction Policy, Anthony J. Barone
CMC Senior Theses
In this paper, I analyze the effectiveness of state level Earned Income Tax Credit programs on improving of poverty levels. I conducted this analysis for the years 1991 through 2011 using a panel data model with fixed effects. The main independent variables of interest were the state and federal EITC rates, minimum wage, gross state product, population, and unemployment all by state. I determined increases to the state EITC rates provided only a slight decrease to both the overall white below-poverty population and the corresponding white childhood population under 18, while both the overall and the under-18 black population for …
The Price Discounts Of Chinese Cross-Listed Companies And Their Variation Across Sectors, Tom Guo
The Price Discounts Of Chinese Cross-Listed Companies And Their Variation Across Sectors, Tom Guo
CMC Senior Theses
This study builds on the paper by Arquette, Brown, and Burdekin (2008) and asks whether the factors which they find to be significant in influencing the differential between the share prices of Chinese securities traded on their home market in Shanghai versus share prices observed offshore in Hong Kong and New York have varying degrees of influence when compared across industries. This paper focuses on Chinese companies listed on both the Shanghai and Hong Kong Stock Exchanges and finds that the proxy variables of expected exchange rate change, relative market sentiment, and relative company sentiment are significant in determining the …
The Impacts Of The Fukushima Daiichi Nuclear Disaster On Electricity Consumption: An Examination Of Tepco's Daily Load Curve, Kristina B. Stanford
The Impacts Of The Fukushima Daiichi Nuclear Disaster On Electricity Consumption: An Examination Of Tepco's Daily Load Curve, Kristina B. Stanford
Scripps Senior Theses
This paper analyzes the effects of the Fukushima Daiichi nuclear disaster on Tokyo Electric Power Company’s (TEPCO) electricity load using alternative event study methodology. The data set includes TEPCO’s published hourly loads from January 1, 2008 to December 31, 2011. Four time series regressions are used to analyze the disaster’s effect on TEPCO’s load curve at an hourly and aggregate level. By examining the hourly impacts of the disaster, this paper provides commentary on the effects of the disaster on the daily load curve, finding transition periods to be the time of day that is most targeted for decreases in …
School Choice And Voucher Systems: A Comparison Of The Drivers Of Educational Achievement And Of Private School Choice, Courtney Sibert
School Choice And Voucher Systems: A Comparison Of The Drivers Of Educational Achievement And Of Private School Choice, Courtney Sibert
Scripps Senior Theses
Despite promotion by well-known economists and supporting economic theory, econometric analyses of voucher systems often find that they have been unsuccessful in improving traditional measures of educational success. This paper examines a possible explanation of this phenomenon by comparing the drivers of educational achievement and of school popularity by examining private school choice. The findings of this paper indicate that there is a disconnect between school success and school popularity, which adversely effects both the demand and supply-side benefits of voucher systems. Additionally, this paper reviews matching mechanisms that seek to efficiently match students with schools based on both student …
Incentivizing Biodiversity Conservation: The Ecological Icms In Brazil, Erin Franks
Incentivizing Biodiversity Conservation: The Ecological Icms In Brazil, Erin Franks
CMC Senior Theses
This study evaluates the effectiveness of the ecological ICMS (ICMS-e) in the Brazilian Amazon, an intragovernmental transfer for incentivizing biodiversity conservation. Tax funds are passed from state governments to municipalities in proportion to the amount of protected area within their borders; biological reserves, sustainable use areas, and indigenous lands are all considered. Econometric analysis using a fixed effects model found that the policy had little positive effect on increasing protected areas compared to the significant negative influence of poor land tenure, agricultural influences, and lack of monitoring for illegal deforestation. However, the policy may increase municipal governments' acceptance of and …
Occupy This: The Effect Of Income Inequality On Gdp Per Capita Growth Using Panel Data In The United States From 1963 To 2009, Dylan B. Lee
Occupy This: The Effect Of Income Inequality On Gdp Per Capita Growth Using Panel Data In The United States From 1963 To 2009, Dylan B. Lee
CMC Senior Theses
Income inequality and its relationship to long-term GDP per capita growth has been researched for decades since the development of the Kuznet’s Curve. Theoretical and empirical research has shown mixed results including positive, negative, non-existent, or statistically insignificant relationships. Empirical research on income inequality and economic growth in the United States has also shown mixed results. In addition to using existing data, this paper uses originally-constructed Gini Coefficients from 2005 to 2009. A statistically significant negative correlation between income inequality, and both short-term growth and long-term growth is found in the analysis of this data. Finally, this paper attempts to …
The Evolution Of The Music Industry In The Post-Internet Era, Ashraf El Gamal
The Evolution Of The Music Industry In The Post-Internet Era, Ashraf El Gamal
CMC Senior Theses
The rise in the prevalence of the Internet has had a wide range of implications in nearly every industry. Within the music business, the turn of the millennium came with a unique, and difficult, set of challenges. While the majority of academic literature in the area focuses specifically on the aspect of file sharing within the Internet as it negatively impacts sales within the recording sector, this study aims to assess the Internet’s wider impacts on the broader music industry. In the same time that record sales have plummeted, the live music sector has thrived, potentially presenting alternative business models …
The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal
The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal
CMC Senior Theses
This paper will employ unit root tests for finding structural breaks endogenously among India’s key macroeconomic aggregate series, as well as their components and subcomponents. The same analysis will be repeated, wherever data are available, for states. The results from these unit root tests will then be used in regression models for national and state level data to understand the causes behind structural breaks. We find that breakpoints cluster around 1982 and 2003 for most series at the national and state level. The services component appears to be a promising candidate for explaining the 2003 structural break in some of …
Strategic Significance: A Model Of G-20 Membership, Patrick Eagan-Van Meter
Strategic Significance: A Model Of G-20 Membership, Patrick Eagan-Van Meter
CMC Senior Theses
The membership of the Group of 20 was selected without any official criteria. This paper investigates whether group membership can be explained through the consideration of several different factors that coincide with the mission of the organization. I found strong evidence that membership in the Group of 20 was based on some combination of land mass and economic output. The results demonstrate that these factors are highly predictive of group membership.
Running Backs In The Nfl Draft And Nfl Combine: Can Performance Be Predicted?, Chris Blees
Running Backs In The Nfl Draft And Nfl Combine: Can Performance Be Predicted?, Chris Blees
CMC Senior Theses
Berri and Simmons (2009) investigate the relationship between the NFL Combine and the NFL Draft. They find that a quarterback’s performance in the Combine can have a significant impact on that player’s draft position. However, they find that no known aspect of a quarterback before they are drafted is an indicator of success in the NFL. I examine if these relationships exist for the Running Back position. I find similar results to Berri and Simmons: that performance in the Combine does have an effect on that player’s draft position, but that no aspect of a running back’s pre-draft characteristics can …
An Analysis Of Remittance Tendencies Of Philippine Migrant Workers, Maryan S. Samson
An Analysis Of Remittance Tendencies Of Philippine Migrant Workers, Maryan S. Samson
CMC Senior Theses
In developing countries, remittances play a key role as a source of external finance. Remittances are a form of aid that migrant workers send back to their families, located in their home countries, in order to support the needs of the household. In about 25% of developing countries, remittances are larger than public and private capital flows combined (International Monetary Fund, 2009). In 2008, the Philippines economy was the 47th largest economy in the world with a GDP of $322 billion dollars (Asian Development Bank, Fact Sheet). Remittances accounted for over 10% of the Philippine economy, making the Philippines …
Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh
Take Me Out Of The Ball Game: The Efficacy Of Public Subsidies In The Success Of Professional Sports Stadiums, Jonah Chodosh
CMC Senior Theses
This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the two factors determining the highest likelihood of venue success include multiple tenants and access to mass transit. The analysis demonstrates that public subsidies towards stadiums don’t generate sufficient economic returns, and that successful stadiums can be created without using taxpayer funds.
Film Review Aggregators And Their Effect On Sustained Box Office Performance, Nicholas Krishnamurthy
Film Review Aggregators And Their Effect On Sustained Box Office Performance, Nicholas Krishnamurthy
CMC Senior Theses
This thesis will discuss the emerging influence of film review aggregators and their effect on the changing landscape for reviews in the film industry. Specifically, this study will look at the top 150 domestic grossing films of 2010 to empirically study the effects of two specific review aggregators. A time-delayed approach to regression analysis is used to measure the influencing effects of these aggregators in the long run. Subsequently, other factors crucial to predicting film success are also analyzed in the context of sustained earnings.
The Economic Impact Of Oil Price Shocks On Emerging Markets, Aanchal Kapoor
The Economic Impact Of Oil Price Shocks On Emerging Markets, Aanchal Kapoor
CMC Senior Theses
Recent spikes in oil prices have thrown light on how economic activity in emerging markets may be impacted by oil price shocks. This paper conducts an empirical analysis of the effect of oil price shocks on emerging markets. It tests for the existence of an asymmetrical relationship between oil prices and economic activity using a model developed by James Hamilton. It also assesses the impact of structural shocks to the real price of oil on output as proposed by Lutz Kilian. While our models find no consistent pattern within emerging markets, they do suggest that oil price shocks have a …
The Impact Of Oil Prices On The U.S. Economy, Jacob H. Bauch
The Impact Of Oil Prices On The U.S. Economy, Jacob H. Bauch
CMC Senior Theses
Nine of the ten recessions since WWII have been preceded by relatively large and sudden increases in the price of oil. In this paper, I use time series analysis to forecast GDP growth using oil prices. I use the methodology from Hamilton (2009), and extend the dataset through 2010. Impulse response functions are used to analyze the historical performance of the model’s one-year-ahead forecasts. In April, 2011, the International Monetary Fund changed its forecast of 2011 GDP growth in the U.S. from 3.0% to 2.8% largely due to persistently high oil prices. My model suggests that the price increase in …
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, Jeffrey Park
Some Professionals Play Minimax: A Reexamination Of The Minimax Theory In Major League Baseball, Jeffrey Park
CMC Senior Theses
This paper explores the behavior of Major League Baseball pitchers. We analyze the pitching data from 2007-2010 in order to determine whether their actions follow minimax play. We also examine what the OPS statistic tells us about a pitcher's value.
An Economic Impact Study Of The "Boom" Period Of Baseball Stadium Redevelopment, Emily Mcnab
An Economic Impact Study Of The "Boom" Period Of Baseball Stadium Redevelopment, Emily Mcnab
CMC Senior Theses
The intention of this study is to analyze the economic impact of redeveloped Major League Baseball stadiums opened between 1991 and 2004. Using two empirical models, including an event study, this impact analysis captures the economic conditions of the cities during the opening year of the stadium, as well as the prior conditions leading up to the opening of the stadium, along with any lingering effects or gradual changes in conditions. The impact was measured in relation to the Metropolitan Statistical Areas corresponding to the 18 ballparks included, specifically looking at the impact on employment rates and per capita personal …