Public Economics Commons^™

The Economics Of Accountability: Learning From German Holocaust Reparations, Grace I. Gates

Scripps Senior Theses

Drawing on microdata from the Survey of Health, Aging, and Retirement in Europe, this study compares European Holocaust survivors who received reparations with similar Europeans who did not. It finds that, decades on, recipients are not systematically better or worse off on core outcomes like life satisfaction, savings, and debt. This is consistent with the argument that reparations restore parity rather than create new advantages. Where differences emerge, they point to stabilization in more vulnerable settings (e.g., lower likelihood of high debt in parts of Eastern Europe). The main takeaway from effective reparations is applicable to the United States debate: …

Improving Maternal Health: Investigating The Early Impacts Of Medicaid Coverage Of Doulas In Oregon, Miriam Akhmetshin

Scripps Senior Theses

While the U.S. spends more per-capita than any country on healthcare, we experience the worst maternal health outcomes of high-income nations. In addition to hefty healthcare bills, an overwhelming majority of mothers experience pregnancy-related health issues that decrease productivity and utility. Thus, it is critical to research cost-effective solutions that can improve maternal health and promote equitable outcomes. Doulas are trained non-medical professionals who support mothers and families before, during and after birth. As a growing body of medical literature points to the role of doulas in decreasing costly medical interventions, insurance companies have begun covering their services. In 2014, …

Medical And Recreational Cannabis In Colorado: Evidence From County-Level Sales And Medical Cards, Ethan Sattley

CMC Senior Theses

This thesis examines how Colorado’s cannabis market transitioned after recreational legalization by analyzing county-level medical card registrations and the medical share of cannabis sales from 2010–2020. Using an event-study design, I find that medical participation remained stable for several years after recreational sales began in 2014, but then declined sharply, by roughly 50–60 cards per 10,000 residents, about ten quarters after legalization. Using annual sales data, I show that the medical share of total cannabis revenue collapsed much more quickly, falling by more than half between 2014 and 2015 and converging near zero in most counties by the late 2010s. …

The Tcja And Shareholder Payouts, Carson T. Bloom

CMC Senior Theses

Abstract

The Tax Cuts and Jobs Act (TCJA) provided corporations an estimated $233 billion in tax savings, yet relatively little is known about how firms allocated this cash windfall. This study examines whether growth and mature firms differed in whether they used these tax savings to distribute dividends and repurchase shares. Using panel data on publicly traded North American firms from 2016–2019, I classify firms as either growth or mature based on their cash-flow patterns and estimate the effects of the TCJA on their behavior using a difference-in-differences design.

The results indicate that mature firms increased shareholder payouts significantly more …

Does Immigration Enforcement Induce Legalization? Replicating And Extending The H-2b Evidence To Agricultural Guest Workers, Katherine E. Schwab

CMC Senior Theses

This thesis examines whether intensified interior immigration enforcement leads employers to increase demand for legal temporary foreign workers through the H-2 guest-worker programs. Using updated administrative data from the Office of Foreign Labor Certification, I first replicate the core findings of Amuedo-Dorantes, Arenas-Arroyo, and Schmidpeter (2021), who find that county-level enforcement significantly raises employer demand for H-2B non-agricultural workers, then apply the same empirical framework to H-2A, the agricultural equivalent.

My replication results are directionally consistent with the original study – the enforcement coefficient on H-2B demand is positive across specifications – though weaker in significance, reflecting routine vintage differences …

Beyond Bans: A Travel Distance-Based Approach To Estimating The Effects Of Dobbs V. Jackson Women’S Health Organization On Fertility And Labor Supply, Enya Kamadolli

CMC Senior Theses

The Dobbs v. Jackson Women’s Health Organization decision had highly heterogeneous effects on abortion access across U.S. states, variation I exploit to identify causal effects on fertility and labor supply. Rather than a binary “total ban” indicator, I construct a continuous treatment measure based on changes in distance to the nearest legal abortion provider between 2021 and 2023, and apply a difference-in-differences design to state-level panel data. Effects are attenuated and imprecise in the South, consistent with diminishing marginal effects at large distances. In non-Southern states, I find that a 100 km increase in distance raises total births by about …

Electric Commuter Rail Access In Residential Communities: A Hedonic Analysis Case Study Of Nonmarket Value Creation, Catherine A. Sunding

Scripps Senior Theses

This study quantifies the price impact on houses of a new electric commuter rail line outside of Denver, Colorado. I find a negative price impact corresponding to increased accessibility and proximity of homes to the rail stations due to the negative externalities associated with the track. I also discover an even larger negative price impact of the rail stations in the years before the stations opened to the public, indicating possible endogeneity in the location of the rail line. I attempt to account for this endogeneity using instrumental variable analysis due to a limitation of house pricing data before 2016.

The Legacy Of Housing Discrimination: Asthma Disparities In California Cities, Taylor Daetz

CMC Senior Theses

This thesis examines the effect of discriminatory housing policy on current asthma rates in California cities. This study uses boundary design and propensity score methodologies to analyze asthma-related emergency department visits in census tracts with corresponding appraisal grades from the Home Owners’ Loan Corporation maps. The results indicate significantly higher asthma burdens in grade D (redlined) census tracts compared to grade C tracts, even when controlling for present-day pollution concentrations, with historically redlined tracts experiencing an average of 26.88 additional emergency department visits per 10,000 residents. The analysis further reveals disparities between grade C and B neighborhoods, suggesting that even …

When Consumers See It Coming: How Anticipation Affects The Domestic Cost Of Tariffs, Pierce D. Sanderson

CMC Senior Theses

Tariffs implemented by President Trump in 2018 were unexpected and significant, incurring large costs to U.S. consumers. This study examines the effect of tariff anticipation on price, quantity, and value effect on imports in the United States. Specifically, it focuses on tariffs implemented during Obama’s second term in office from 2012 to 2016 on the automotive, technology, and manufacturing industries. The findings present a significant divergence from the literature on the effects of 2018 tariffs, finding a near full pass-through of tariffs to foreign exporter prices rather than U.S. consumers. Specifically, a one percent increase in tariffs resulted in a …

Divided By Design? Urban Renewal’S Differential Impacts On Economic Outcomes By Race, Derik Suria

CMC Senior Theses

I study city-level effects of the federally and state-sponsored urban renewal program that aimed to improve living conditions for residents in blighted areas and slums. I use an interdisciplinary approach to estimate urban renewal effects on measures of income, property value, poverty, and employment. I first replicate the methodology and estimates of urban renewal effects on city outcomes in 1980 from Slum Clearance and Urban Renewal in the United States (Collins and Shester 2013). I extend this research by looking at a longer time horizon (1990, 2000, 2010) and incorporating race-based outcomes. From 1980 to 2010, estimated effects on property …

Dead Money: Measuring The Influence Of Representatives On Government Spending, Adhitya Venkatraman

CMC Senior Theses

In line with popular criticisms of Congressional pork barrel spending, I find that that individual representatives do wield significant influence in securing government contracts for their districts. Using federal contract data organized at the congressional district level from FY 2001 – FY 2021, I estimate how individual members of the House of Representatives affect funding outcomes. My identification strategy leverages changes in contract funding that occur during exogenous vacancies occurring in the middle of a term. By comparing contract funding outcomes during vacant quarters to non-vacant quarters, I estimate the amount of individual influence exercised by representatives.

During vacant quarters, …

Climate Trailblazer Or Corporate Giveaway: An Economic And Political Evaluation Of Cap-And-Trade In California, Benjamin Reicher

Pomona Senior Theses

In this thesis, I conduct an economic and political analysis of California’s cap-and-trade program, the leading national (and international) example of a market-based strategy to reduce climate-warming greenhouse gas emissions. I evaluate the program on several economic and political measures of success, especially as contrasted with the performance of various regulatory policies that California also relies on to meet its emissions reduction targets. These regulations exemplify a command and control approach to emissions mitigation as opposed to a market-based approach, and indeed tend to be favored by grassroots activists who may be skeptical about market-friendly policies; my thesis seeks to …

Geographic Banking Discrimination In The United States, Simon Ross Gilbert

CMC Senior Theses

Financial institutions in the United States have historically discriminated against Black Americans in a multitude of ways. One potential dynamic of unequal access that remains understudied is geographic in nature. That is, are commercial banks less likely to locate in neighborhoods with more Black people? Using a fixed effects and selection on observables model, I find that a 1 percentage point increase in an area’s Black population is related to a 0.11 decrease in the number of commercial banks in that area. This effect is localized primarily in urban areas, particularly in cities in the Mid-Atlantic, Upper Midwest, and Pacific …

The Influence Of Political Party Affiliation And Park Accessibility On Covid-19 Case Incidence, Sascha Wolf-Sorokin

CMC Senior Theses

This paper examines the joint effect of political party affiliation and the urban landscape, as measured by access to parks, on case rates during the COVID-19 pandemic in the United States. The 2016 and 2020 U.S. Presidential Election returns are used as a proxy for a county’s political party affiliation prior to and during the COVID-19 pandemic. A county population’s spatial relationship to its parks encapsulates the green open space within an urban environment. The data set controls for features of the built environment, socioeconomic and demographic characteristics (race, gender, income, education), COVID-19 government regulations, and presidential election returns. Using …

Economic Propaganda In The United States, Brooklyn Montgomery

CMC Senior Theses

This thesis aims to identify and analyze three different forms of economic propaganda: cultural, structural, and political. I first examine ‘Do What You Love’ culture and its impact on the labor force. Chapter Two explores the propagation of neoliberal economics as an objective study, and the final chapter analyzes the use of Black capitalism as a political mechanism to quell Black radical sentiment. In detailing these phenomenons, I investigate the implementation, normalization, and effects, as well as the material repercussions of these ideas and structures.

Disembedded Liberalism: The Global Pressure On Democracy, Hallie Spear

CMC Senior Theses

The international political order is at a crossroads with divergent paths. Liberal democracy is once again threatened on the international stage. What's more troubling is that the most stable and influential democracies, the United States, those in Europe and India, seem to be vulnerable to the autocratic wave sweeping through the world. This thesis completes a critical analysis to understand the root causes of the recent disruption to democracy the world has observed. Focusing on three established, diverse, and populous democracies, this thesis investigates the economic conditions at play that made each nation vulnerable to populism. Neoliberal economic policies implemented …

Are Investment Banks Helpful Or Hurtful? An Analysis Of Intraday Volatility In The Direct Listing Process As Compared To Investment Bank-Involvement In Traditional Ipos, Alexis Paff

Scripps Senior Theses

In this paper, I carry out an empirical analysis of the pricing volatility of direct listings as compared to traditional IPOs. Direct listings solve an efficiency problem in the US going-public market, in which well-funded, late-stage firms lack incentives to pursue a public listing, which would create liquidity for preexisting shareholders and allow for a more diverse body of public shareholders. Direct listings have been allowed on the New York Stock Exchange since early 2018, and four firms, Spotify, Slack, Asana, and Palantir, have gone public through this new listing mechanism. While underwriters are heavily involved in the IPO process, …

Dropping The Ball: A Political And Economic Analysis Of Public Subsidization For Stadium Construction Projects, Max Fisher

CMC Senior Theses

The results generated by this research argue that the high cost of public subsidization does not outweigh the benefits associated with new stadiums. By using several cost-benefit analyses, my research adds to the current literature that these projects, while seemingly beneficial for communities, induces negligible or even negative outcomes. In particular, this study details the Las Vegas Raiders and the New York Yankees, explaining how these teams were able to achieve a new stadium. To understand why politicians continually support stadium construction despite extensive literature showing its harms, this research includes explanations based on the political theory from authors such …

‘It’S Like Baking A Cake’: An Analysis Of Conscience Voting In The New Zealand House Of Representatives Since The Introduction Of The Mixed-Member Proportional System In 1996, Harrison Hosking

CMC Senior Theses

Conscience voting in the New Zealand House of Representatives offers a unique opportunity to assess Sam Peltzman’s ‘Principal-Agent Theory’ as outlined in his 1984 paper, Constituent Interest and Congressional Voting.

This thesis begins with a brief assessment of the principal-agent model (and other literature regarding parliamentary representation) before looking at the New Zealand Parliamentary system and the phenomenon of private member’s bills and how they aid the legislative process. This is followed by an exploration of a constructed dataset of conscience votes that have occurred since the inception of the mixed-member proportional (MMP) electoral system in 1996. An analysis …

Can Uber And Lyft Save Public Transit?, Emily Zheng

Pomona Senior Theses

I examine whether Uber and Lyft are currently complements or substitutes of public transit, and how partnerships between cities and ride sharing companies can increase their complementary relationship and solve parking and mobility issues. The results suggest that transportation network companies (TNCs) like Uber and Lyft do not have a statistically significant effect on public transit ridership overall, but are complements of public transit for certain populations. Policies that give discounts for TNC rides taken to and from transit stops help solve the first mile / last mile problem, which consequently help increase transit ridership.

The Legalization Of Street Vending In Los Angeles: Exploring The Impact On Vendors And Their Livelihoods, Karen Alpuche Caceres

Pomona Senior Theses

This thesis aims to unpack the impact the legalization of street vending and the subsequent regulation had on sidewalk vendors. Although legalization occurred state-wide through Senate Bill 946 in September of 2017, the rules and regulations for vending were passed at a city-level, and I am focusing on the City of Los Angeles specifically. Through interviews with government officials, non-profit partners and advocates, and vendors from different parts of the City, I analyze information around the policy itself, its history, and the impact it has and is expected to have on vendors and their businesses. While vendors have been central …

Alleviating Poverty In Sub-Saharan Africa, Owen Dubeck

CMC Senior Theses

While most of the world has been able to dramatically reduce extreme poverty rates, Sub-Saharan Africa has failed to do so and is the only region in the world with more people living in extreme poverty than thirty years ago. This thesis will develop a policy framework for alleviating poverty by drawing from countries that are performing surprisingly well and poorly in the region. The thesis concludes with an analysis of whether education, health, or agricultural sectors should be receiving more or less funding based on expected rates of return and the feasibility of policy successes.

Human Development And Subnationalism: A Disaggregated Analysis Of Indian States: Kerala And Uttar Pradesh, Manika Garg

CMC Senior Theses

This thesis investigates achievements in human development outcomes on health, education, and poverty indicators across Indian states, in order to discern what factors might influence a state’s better orientation toward social policies. After conducting data analysis, the study explains differences in outcomes, as achieved by Kerala and Uttar Pradesh, by building an argument of subnational solidarity and its impact on determining the state’s policy agendas.

Analysis Of The Economic Impact Of Constructing A Nba Arena On The Host City, Grant Gilchrist

CMC Senior Theses

Using economic data collected from 24 different Metropolitan Statistical Areas in the US, this thesis investigates the impact of constructing a new National Basketball Association (NBA) arena on the host city’s economy. When a simplistic model is implemented, which does not control for other economic factors or individual subject heterogeneity, significantly positive economic impacts of arena construction are observed. However, when a more appropriate model specification is implemented that controls for economic activity and individual heterogeneity, these effects are no longer statistically significant. This comparative analysis ultimately highlights the importance of appropriate model specification and supports the conclusion that new …

Is Avocado Toast The Reason I'M Still Living With My Parents?, Brendan Macdonald

CMC Senior Theses

Is avocado toast the reason that I am still living with my parents? In other words, does the consumption of avocado toast, or more specifically eating out in general, have any impact on one’s ability to be a homeowner. In May of 2017, an Australian real estate developer by the name of Tim Gurner was asked to provide advice to young people who could not afford to purchase a home. He responded by saying, “when I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,” (Victor, 2017). While the …

A Deep Dive Into Technological Unemployment: A State-Level Analysis On The Employment Effect Of Technological Innovations, Yuqing "Jenny" Cang

CMC Senior Theses

Ever since the first Industrial Revolution, during which many textile artisans lost their jobs to weaving machines, the relationship between technological progress and unemployment has been explored and examined by researchers and policy makers. Existing empirical research, mostly at the microeconomic level, has presented ambiguous results. Procuring data on 51 U.S. states for a period of 19 years and a large number of controls, this paper studies the employment effect of technological innovations with a novel state-level macroeconomic analysis. Using commercially-supplied Research and Development expenditure as a proxy, this paper finds that although technological innovations have a non-significant effect on …

The Developmental Effect Of State Alcohol Prohibitions At The Turn Of The 20th Century, Mary F. Evans, Eric Helland, Jonathan Klick, Ashwin Patel

CMC Faculty Publications and Research

We examine the quasi-randomization of alcohol consumption created by state-level alcohol prohibition laws passed in the United States in the early part of the twentieth century. Using a large dataset of World War II enlistees, we exploit the differential timing of these laws to examine their effects on adult educational attainment, obesity, and height. We find statistically significant effects for education and obesity that do not appear to be the result of pre-existing trends. Our findings add to the growing body of economic studies that examine the long-run impacts of in utero and childhood environmental conditions.

The Impact Of State-Provided Paid Family Leave On Wages: Examining The Role Of Gender, Aimee Samantha Abrams Widdicombe

Scripps Senior Theses

The U.S. is the only OECD country that does not offer any form of federal paid parental leave. Only three states—California, New Jersey and Rhode Island—have state-provided paid leave policies; implemented in 2004, 2009 and 2014, respectively. Through descriptive statistics and difference-in-difference-in-difference regression analyses of the wages of women and men of childbearing age (19-45 years) in those three states, we assess whether the paid leave programs have effected wages, and whether these effects vary depending on gender. Our results show that wages of women of childbearing age saw negligible net effects post-policy in policy states, although statistically insignificant. On …

A Comparative Examination Of International Carbon Trading Mechanisms, Allison Moors

CMC Senior Theses

A Comparative Examination of International Carbon Trading Mechanisms

Peer Misbehavior Effects In The Classroom, Alex Hwung

CMC Senior Theses

This paper seeks to evaluate the effects of peer misbehavior in the classroom on student learning outcomes--namely, if there is any truth behind the old saying that “one bad apple ruins the bunch”. Using experimental data, I show that there is a strong initial relationship between the level of misbehavior in a given classroom and performance on a mathematics evaluation; however, the inclusion of lagged peer achievement in the model causes most of that relationship to be absorbed away, suggesting that the bulk of peer effects stem more from the academic performance of other students than from their behavior.