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Articles 1 - 18 of 18
Full-Text Articles in Other Economics
Explaining Pension Trends And Recent Pension Performance, Nathan Jeppson, John A. Ruddy, David F. Salerno
Explaining Pension Trends And Recent Pension Performance, Nathan Jeppson, John A. Ruddy, David F. Salerno
Pennsylvania Economic Review
Due to significant unfunded liabilities, many employer-sponsored retirement plans both domestically and internationally are shifting away from defined benefit (DB) pension plans to defined contribution (DC) plans. This is especially the case in private industry. Many expected that the COVID-19 pandemic would cause the funding status of DB plans to worsen. However, the opposite occurred. This is primarily due to decreased life expectancies and improved financial market performance. We utilize a 2004-2021 dataset that contains state level GDP, revenue, pension, and life expectancy data to study U.S. state DB pension plans. We are able to explain over 80% of the …
Economics Of The Olympics: Impact Of Bidding For And Hosting The Olympic Games On International Openness, Adalynn Cherry
Economics Of The Olympics: Impact Of Bidding For And Hosting The Olympic Games On International Openness, Adalynn Cherry
Pennsylvania Economic Review
This study investigates how hosting and unsuccessfully bidding to host the Olympic Games impacts total international trade and influences a country’s openness. This relationship is analyzed using the gravity model of trade to perform a regression analysis of total trade levels from 2000 to 2018. The results of this study did not support the idea that hosting the Olympic Games impacts total trade; although, they did show a strong and permanent positive relationship between unsuccessfully bidding to host the Olympic Games and total international trade. These findings highlight the benefits of the Olympic bidding and candidature process as a policy …
National Expenditure On R&D And International Comparison Of Productivity, Aegus Kim
National Expenditure On R&D And International Comparison Of Productivity, Aegus Kim
Pennsylvania Economic Review
A higher national expenditure on research and development (R&D) may lead to a higher level of productivity in the national economy because innovations can improve overall efficiency in production by increasing output per worker. Unlike other empirical studies which suggest the positive impact of R&D expenditure on productivity but are often the result from the firm level or the industry level, this paper investigates a positive correlation between R&D spending and productivity using the 2019 national data for the top 25 countries ranked by R&D expenditure. The paper focuses on the relationship between international values of total factor productivity (TFP) …
Exploring The Socioeconomic Determinants Of Abortion: Evidence From Pennsylvania, Guido Giuntini, Allyssa A. Wadsworth, Michael A. Malcolm
Exploring The Socioeconomic Determinants Of Abortion: Evidence From Pennsylvania, Guido Giuntini, Allyssa A. Wadsworth, Michael A. Malcolm
Pennsylvania Economic Review
Economic factors play a key role in determining fertility and the number of abortions performed. Using detailed county-level data from Pennsylvania, we used fixed-effects analysis to examine how changes in these economic factors are related to the number of abortions. Our most robust estimate suggests that each percentage point increase in the poverty rate is associated with approximately 5 additional abortions per 1000 live births, but that increases in college education rates are associated with a decline in abortions. We also offer some preliminary evidence on the effects of partisanship, religiosity and proximity to an abortion clinic.
Performance And Policy Review: Does Connecticut’S Open Choice Program Provide Equitable Opportunities To Underserved Students?, Jacob S. Carson, Gazi M. Duman
Performance And Policy Review: Does Connecticut’S Open Choice Program Provide Equitable Opportunities To Underserved Students?, Jacob S. Carson, Gazi M. Duman
Pennsylvania Economic Review
The intent of Connecticut’s Open Choice Program is to offer underserved urban students the opportunity to achieve equitable educational outcomes by attending higher-quality public schools. As students transfer to schools that theoretically have more resources, increased educational achievement growth is expected. Additionally, with the implementation of the state exam, Smarter Balanced Assessment, student growth metrics have been introduced in state reporting. Examining student growth is a better measure for school quality than achievement levels. To understand the impact of Open Choice Program, a multiple regression analysis is applied to multiple imputed aggregate data to determine the relationship between school choice …
The Death Of Volunteerism In America And The True Cost To Society, John R. Ash
The Death Of Volunteerism In America And The True Cost To Society, John R. Ash
Pennsylvania Economic Review
Communities throughout the United States face a public safety concern in providing fire protection and emergency medical services (EMS) due to the nationwide decline in volunteerism. Two-thirds of the nation’s 30,000 fire departments are volunteer-run, and since 2015, the number of volunteer firefighters has declined from 814,850 to 682,600. EMS organizations face an equally daunting dilemma with up to a 55% attrition rate in emergency medical technicians and paramedics. Pennsylvania has been especially hard hit. Benjamin Franklin founded the first volunteer fire department in the nation in Pennsylvania. In this state, the number of volunteer firefighters has dropped from a …
Revisit The Moving Average Technical Trading Rule For The Nasdaq Composite Index, Louie Ren, Peter Ren, Jeffrey Yi-Lin Forrest
Revisit The Moving Average Technical Trading Rule For The Nasdaq Composite Index, Louie Ren, Peter Ren, Jeffrey Yi-Lin Forrest
Pennsylvania Economic Review
We check the regression model assumptions via residual analysis using one dummy variable for Buy and Sell Days. Since the returns of the NASDAQ composite index is not stationary, it is inappropriate to use the Student T-test on Buy and Sell Days to analyze the efficiency of the market via moving average technical trading rules. As such, the Buy-Sell Days from the moving average trading rules have no predictability on daily NASDAQ index returns. This refutes the results of at least two studies on the NASDAQ Composite Index.
The Relationship Between Economic Policy Uncertainty And Stock Market Volatility, Jadesola Alatishe, M Halim Dalgin, Necati Tekatli
The Relationship Between Economic Policy Uncertainty And Stock Market Volatility, Jadesola Alatishe, M Halim Dalgin, Necati Tekatli
Pennsylvania Economic Review
This paper studies the relationship between the economic policy uncertainty and the stock market volatility. On a daily basis, stock prices react to news about what governments around the world plan to do or have done. As economic policy uncertainty is expected to be priced in the stock market, the relationship between economic policy uncertainty and financial markets can reveal investors' assessments of how policy risks impact economic activity into the future, conveniently summarized in present value terms. In this paper, we hope to unravel how an uncertain economic policy climate affects the stock market dynamics. Our results indicate that …
It Doesn’T Pay To Be Purple: An Empirical Test Of Pork Barrel Spending And Congressional Delegation Homogeneity, M. Garrett Roth, Zachary Klingensmith
It Doesn’T Pay To Be Purple: An Empirical Test Of Pork Barrel Spending And Congressional Delegation Homogeneity, M. Garrett Roth, Zachary Klingensmith
Pennsylvania Economic Review
This paper presents empirical evidence that pork barrel spending, as a best proxy for targeted spending through legislative coalition formation, is significantly affected by the party homogeneity among congresspersons of a given state. Moreover, the magnitude of homogeneity, when measured as uniform or non-uniform, carries larger magnitude than a state delegation’s congruence in either chamber with the current majority party. The result suggests that coalition value is a major motivator of U.S. congressional budgeting.
How Nonmarket Externalities Affect The U.S. Business Dynamism: An Economic Approach To Drug Epidemic, Chukwudi Ikwueze
How Nonmarket Externalities Affect The U.S. Business Dynamism: An Economic Approach To Drug Epidemic, Chukwudi Ikwueze
Pennsylvania Economic Review
Businesses thrive best in an environment devoid of constraints, including those resulting from third-party activities with longstanding economic underpinnings. While existing research has extensively explored how costs and benefits emanating from businesses affect third parties, in the form of market externality, little attention has been given to understanding how costs and benefits arising from third-party activities influence businesses. To fill this gap, this paper aims to introduce the concept of nonmarket externality, which represents the influence of third-party activities on businesses, and use it to examine whether third-party activities associated with the drug epidemic influence the U.S. business dynamism. The …
Do Students Buy “Familiar” Stocks? A Field Experiment, George Psaradakis, Scott Deacle, Rudolph Henkel, Steve Aukers
Do Students Buy “Familiar” Stocks? A Field Experiment, George Psaradakis, Scott Deacle, Rudolph Henkel, Steve Aukers
Pennsylvania Economic Review
Existing literature shows that biases related to awareness can influence investors’ decisions when constructing portfolios or making financial decisions. In this paper, we examine whether student investors are drawn to stocks issued by companies with large general marketing budgets, based on the Ad Age 200, and stocks that are associated with popular brands. A field experiment was conducted in which undergraduate students constructed their own virtual stock portfolios. A treatment group of students was given a training seminar in stock market fundamentals in order to enhance their skillsets for stock market analysis and stock selection. The treatment group was compared …
The Unemployment-Crime Relationship In California: A Reexamination At The County-Level, Taylor M. Friedman
The Unemployment-Crime Relationship In California: A Reexamination At The County-Level, Taylor M. Friedman
Pennsylvania Economic Review
This study investigates the unemployment-crime relationship using a panel of the 58 counties in California from 2015-2019. A regression is estimated using a one-way random effects model to control for unobserved heterogeneity. The dependent variables are categorized into two groups: violent and property crimes. Independent variables are also placed into categories: state expenditures, socioeconomic, demographic, law enforcement, and county. The results indicate that for violent crimes, poverty, Black racial composition, young males aged 14-17, and college educational attainment for people aged 18-24 are positively significant contributors to the crime rate. Population density and college educational attainment for people aged 25+ …
The Impact Of Rising Incomes On Green House Gas Emissions Versus Green House Gas Abatement, John Mccollough
The Impact Of Rising Incomes On Green House Gas Emissions Versus Green House Gas Abatement, John Mccollough
Pennsylvania Economic Review
One of the most significant environmental threats today is climate change. This paper examines the role that increasing gdp has on both greenhouse gas emissions as well as greenhouse gas abatement to determine which of the two will be impacted more by rising incomes. If higher gdp per capita has a more significant impact on greenhouse gas emissions than on greenhouse gas abatement, then as time goes on and as gdp per capita continues to rise in countries around the world, it will become more and more difficult to control greenhouse gas emissions.
Spatial Effects Of Broadband Infrastructure On China’S Regional Innovation, Guomin Li, Liang Ding, Sheng Chen, Tufan Tiglioglu
Spatial Effects Of Broadband Infrastructure On China’S Regional Innovation, Guomin Li, Liang Ding, Sheng Chen, Tufan Tiglioglu
Pennsylvania Economic Review
This paper empirically studies the impact of broadband infrastructure on regional innovation and the related spatial effects, using China's provincial data from 2006 to 2016. The findings show that China’s broadband infrastructure positively impacts regional innovation, indicating a significant spatial spillover effect among adjacent regions. The results of the panel SARAR model indicate that broadband infrastructure has a national wide space aggregation effect and further suggests that regionally, broadband infrastructure will significantly absorb innovation from the adjacent region and promote the spatial aggregation of innovation in economically developed areas.
Evaluating The Convergence Of Incomes In Pennsylvania, 1980-2018: Did The Incomes In Pennsylvania Converge?, Yaya Sissoko, Brian Sloboda, Rubens Da Silva
Evaluating The Convergence Of Incomes In Pennsylvania, 1980-2018: Did The Incomes In Pennsylvania Converge?, Yaya Sissoko, Brian Sloboda, Rubens Da Silva
Pennsylvania Economic Review
This paper analyzed the recent change in both per capita earnings from employment and per capita income (including that from transfers and non-earnings sources) by Pennsylvania’s counties between 1980 and 2018, inclusive. Then, we also divided the period into the following five time periods for additional analysis: 1980-1990, 1990-2000, 2000-2010, and 2010-2018. Absolute convergence seems to have occurred among the counties in Pennsylvania that may be attributed to the gradual heterogenization of the regional economies. This result may modify some of the conclusions drawn in the recent literature regarding the mechanisms that have generated convergence in their regions. We also …
The Relationship Between Groom Price And Parents’ Investment In Their Daughters’ Human Capital, Mahjuja Taznin
The Relationship Between Groom Price And Parents’ Investment In Their Daughters’ Human Capital, Mahjuja Taznin
Pennsylvania Economic Review
This paper analyzes the relationship between a daughter’s education and the price her family pays for a groom in India. I use an Indian national school-latrine-construction initiative as a policy instrument to address the problem of endogeneity between parental spending on education and groomprice. I find that a woman with an additional year of education marries a more educated groom and pays on average an extra 6 percent for her groomprice. A woman pays extra for each additional year of her groom’s education, resulting in the total effect of a woman with more education paying more groomprice. I do not …
A Profit-Based View Of Economic Granularity In The Perspective Of Market Competition, Jeffrey Yi-Lin Forrest
A Profit-Based View Of Economic Granularity In The Perspective Of Market Competition, Jeffrey Yi-Lin Forrest
Pennsylvania Economic Review
This paper studies Gabaix’s granular hypothesis from an analytical angle in lights of profits and market competition. By establishing the profit pictures of the initial firms of an emerging market and the incumbent firms of a maturing market, it is shown that consumers’ evolving preference help intensify market competition and encourage new firms’ entry into an established oligopoly market. With this profit-based logic, among other results established are precise conditions under which Gabaix’s granular hypothesis is either surely true or definitely not true, followed by relevant empirical confirmations. At the end, several important open questions are posed for future research.
Exploring The Effect Of Three-Dimensional Television Advertising On Brand Attitudes: The Roles Of Human Factors, Involvement, Presence, And Flow, Young Bae, Michelle Gordon, Chang-Dae Ham, Jong Woo Jun
Exploring The Effect Of Three-Dimensional Television Advertising On Brand Attitudes: The Roles Of Human Factors, Involvement, Presence, And Flow, Young Bae, Michelle Gordon, Chang-Dae Ham, Jong Woo Jun
Pennsylvania Economic Review
This research explores how consumers process three-dimensional television advertising. It examines the hierarchical relationships among human factors, involvement, presence, flow, and attitudes toward the advertised brand by employing a quasi-experimental design incorporating a real three-dimensional television commercial. This study finds that human factors, i.e., physical fatigue and the inconvenience of wearing three-dimensional glasses, are negatively associated with situational involvement. Situational involvement is in turn positively related to attitudes toward the brand in the three-dimensional television advertisement. Interestingly, feelings of presence significantly mediate the relationship between involvement and attitudes toward the brand, but the flow state does not. Additionally, the physical …