Open Access. Powered by Scholars. Published by Universities.®

Economic Policy Commons™

Open Access. Powered by Scholars. Published by Universities.®

Discipline
Institution
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 1111 - 1140 of 2644

Full-Text Articles in Economic Policy

Growth Empirics: A Bayesian Semiparametric Model With Random Coefficients For A Panel Of Oecd Countries, Badi Baltagi, Georges Bresson, Jean-Michel Etienne Jun 2020

Growth Empirics: A Bayesian Semiparametric Model With Random Coefficients For A Panel Of Oecd Countries, Badi Baltagi, Georges Bresson, Jean-Michel Etienne

Center for Policy Research

This paper proposes semiparametric estimation of the relationship between growth rate of GDP per capita, growth rates of physical and human capital, labor as well as other covariates and common trends for a panel of 23 OECD countries observed over the period 1971-2015. The observed differentiated behaviors by country reveal strong heterogeneity. This is the motivation behind using a mixed fixed and random-coefficients model to estimate this relationship. In particular, this paper uses a semiparametric specification with random intercepts and slopes coefficients. Motivated by Lee and Wand (2016), we estimate a mean field variational Bayes semiparametric model with random coefficients …

Go to article

Labor Market Policies In A Roy-Rosen Bargaining Economy, Hugo Jales, Zhengfei Yu Jun 2020

Labor Market Policies In A Roy-Rosen Bargaining Economy, Hugo Jales, Zhengfei Yu

Center for Policy Research

We study the effects of labor market policies using a bargaining model featuring compensating differentials (Rosen, 1986) and self-selection (Roy, 1951). The framework allows us to create a taxonomy of formal and informal employment. We use the model to estimate the effects of the minimum wage for the Brazilian economy using the “PNAD" dataset for the years 2001-2005. Our results suggest that, although the minimum wage generates unemployment and reallocation of labor to the informal sector, the policy might be desirable if the employment losses are concentrated in jobs characterized by low surplus.

Go to article

Density Deconvolution With Laplace Errors And Unknown Variance, Jun Cai, William C. Horrace, Christopher Parmeter Jun 2020

Density Deconvolution With Laplace Errors And Unknown Variance, Jun Cai, William C. Horrace, Christopher Parmeter

Center for Policy Research

We consider density deconvolution with zero-mean Laplace noise in the context of an error component regression model. We adapt the minimax deconvolution methods of Meister (2006) to allow estimation of the unknown noise variance. We propose a semi-uniformly consistent estimator for an ordinary-smooth target density and a modified “variance truncation device" for the unknown noise variance. We provide a simulation study and practical guidance for the choice of smoothness parameters of the ordinary-smooth target density. We apply restricted versions of our estimator to a stochastic frontier model of US banks and to a measurement error model of daily saturated fat …

Go to article

Building For Culture: How Municipal Ownership Of Cultural Facilities Influences Annual Arts Funding In American Cities, Adam M. Sachs Jun 2020

Building For Culture: How Municipal Ownership Of Cultural Facilities Influences Annual Arts Funding In American Cities, Adam M. Sachs

Dissertations, Theses, and Capstone Projects

This thesis explores how local government support for arts and culture varies across 24 American cities. It has proven to be challenging for researchers to accurately measure municipal arts support. Research on cultural policy has also often focused on the federal level, despite total city expenditures far exceeding national or state government support. This thesis attempts to take an accurate pulse of city expenditures in 2017 and correlates those spending levels to the variation in city ownership of arts facilities. Rooted in the historical perspectives of the ‘new institutionalism’ and path-dependency, this paper argues that past decisions about taking ownership …

Go to article

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr. Jun 2020

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This Fact Sheet analyzes indicators of demographic and economic change in Las Vegas neighborhoods and suburbs, provided by “American Neighborhood Change in the 21st Century,” a study published by the Institute on Metropolitan Opportunity (IMO) at the Minnesota Law School. Researchers reviewed data from the 2000 U.S. Census and the 2016 American Community Survey (ACS) for the top 50 largest metros in the U.S. The study reports levels of neighborhood change, including economic growth, poverty concentration, gentrification, and low-income displacement. Data pertaining to the Las Vegas metropolitan region are synthesized to measure indicators of economic viability and housing availability.

Go to article

Nonparametric Tests Of Tail Behavior In Stochastic Frontier Models, William C. Horrace, Yulong Wang Jun 2020

Nonparametric Tests Of Tail Behavior In Stochastic Frontier Models, William C. Horrace, Yulong Wang

Center for Policy Research

This article studies tail behavior for the error components in the stochastic frontier model, where one component has bounded support on one side, and the other has unbounded support on both sides. Under weak assumptions on the error components, we derive nonparametric tests that the unbounded component distribution has thin tails and that the component tails are equivalent. The tests are useful diagnostic tools for stochastic frontier analysis and kernel deconvolution density estimation. A simulation study and an application to a stochastic cost frontier for 6,100 US banks from 1998 to 2005 are provided. The new tests reject the normal …

Go to article

Fomc Playbook: The Only New Game In Town?, Thomas Lam Jun 2020

Fomc Playbook: The Only New Game In Town?, Thomas Lam

Sim Kee Boon Institute for Financial Economics

In light of the Covid-19 pandemic, the Federal Open Market Committee (FOMC), while taking more aggressive actions, seems to have stuck more or less to the standard playbook of responding to “unusual and exigent circumstances”. This essentially calls for slashing conventional policy rates to their effective lower bound, accompanied by forward guidance, embarking on asset purchases, rolling out emergency liquidity facilities and experimenting with lending programmes. But policymakers, with the required US Treasury backstop, have also introduced more creative programmes to encourage credit extension and reached into different market segments.

Go to article

The Correlation Between County Expenditures And Ab109 Recidivism: A Cross-Sectional Analysis, Maya Crim Jun 2020

The Correlation Between County Expenditures And Ab109 Recidivism: A Cross-Sectional Analysis, Maya Crim

Electronic Theses, Projects, and Dissertations

In response to a federal mandate, California passed Public Safety Realignment policies in 2011 to reduce its prison population. Popularly known as Assembly Bill 109 (AB109), these policies sought to reform the prison system on multiple fronts. One of these fronts is preventing recidivism among offenders. Most studies on recidivism look at individual factors or specific micro interventions. However, the aim of this research was to examine the relationship between external factors and recidivism rates across 55 California counties. Using Spearman’s Correlation, this study tested the hypothesis that external factors such as county funding/expenditure, poverty level, and unemployment level monotonically …

Go to article

Metro Monitor 2020: Las Vegas & Reno, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr. May 2020

Metro Monitor 2020: Las Vegas & Reno, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet presents changes in indicators of economic health for the State of Nevada using data provided by the Brookings Institution’s Metro Monitor analysis. Looking beyond gross domestic product (GDP) and job growth, researchers at Brookings’ Metropolitan Policy Program measure various indicators of economic well-being across 192 metropolitan statistical areas (MSAs) for a 1-year period (from 2017-2018) and a 10-year period (from 2008-2018). Metro areas are classified by size: midsized metros (with populations between 250,000 and 500,000), large metros (with populations between 500,000 and 1 million), and very large metros (with populations over 1 million). For the purpose of …

Go to article

Are Coco Bonds Suitable As Core Capital Instruments?, Kevin Dowd May 2020

Are Coco Bonds Suitable As Core Capital Instruments?, Kevin Dowd

Journal of New Finance

Basel III introduced significant innovations in bank regulation. One of them is the minimum required leverage ratio. To help banks implementing the new measure , Basel III created two different core capital measures: Common Equity Tier 1 (CET1) and Additional Tier 1 (AT1). Since raising capital for CET1 is expensive, other instruments are used to build up AT1 in case of need, like for example Contingent Convertible (CoCo), which can convert to equity or written-down when a bank is under stress. In this paper we show that CoCos are not suitable as regulatory core capital instruments. Problems of timing, incentives, …

Go to article

International Migration, Development, And Policy: Reconsidering Migration Transition Theory—A Way Forward, Karin A. C. Johnson May 2020

International Migration, Development, And Policy: Reconsidering Migration Transition Theory—A Way Forward, Karin A. C. Johnson

Hatfield Graduate Journal of Public Affairs

Migration transition theories have been contested as they informed immigration policy in the Global North, which—based on assumptions that immigrants from developing countries may be a threat to social stability and economic opportunity—aimed to diminish emigration from the South. Development policies were proposed that could produce a “migration transition” in the South, where it was assumed that improved economic development would act as a substitute for migration and lead to minimal emigration, thus reducing overall immigration to the Global North. However, policies did not result in a migration transition. Acknowledging problematic rhetoric and contradictory policy and outcomes, this paper addresses …

Go to article

Covid-19: The Impact On Small Businesses In Nevada, Madison Frazee-Bench, Caitlin Saladino, William E. Brown Jr. May 2020

Covid-19: The Impact On Small Businesses In Nevada, Madison Frazee-Bench, Caitlin Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet presents data on the number of small businesses (fewer than 250 employees) considered at risk due to the COVID-19 outbreak. The data collected originates from the Brookings Institution, and reports the economic effect of COVID-19 on small businesses in states and counties throughout the nation. Understanding this data can help policymakers and business owners alike make strategic decisions about navigating this crisis. This Fact Sheet focuses specifically on the State of Nevada and its 17 counties.

Go to article

Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker May 2020

Agglomeration Economies: How “Y’Allywood” Became The New Hollywood, Joseph Dugan Walker

Honors Theses

Agglomeration economies have gained special attention in recent decades. With the increasing connectivity of our world, specialized regional economies are stronger now than ever before. A specific agglomeration economy that has developed in recent years is the Georgia Film Industry. This region surpassed Hollywood as the premier filming location for the first time since the early 1900s when New York was number one. This thesis analyzes the reasons why Georgia was so successful in attracting the film industry and encouraging its development by comparing infrastructure, film tax incentives, population, and labor development to that of competing states like New York, …

Go to article

Milk And The Motherland? Colonial Legacies Of Taste And The Law In The Anglophone Caribbean, Merisa S. Thompson May 2020

Milk And The Motherland? Colonial Legacies Of Taste And The Law In The Anglophone Caribbean, Merisa S. Thompson

Journal of Food Law & Policy

This paper tells a story of the relationship between colonialism and capitalism through the lens of “milk” and “the law” in the Caribbean. Despite high levels of lactose intolerance amongst its population, milk is a regular part of many Caribbean diets and features prominently in its foodscapes. This represents a distinctive colonial inheritance that is the result of centuries of ongoing colonial violence and displacement. Taking a feminist and intersectional approach, the paper draws on analysis of key pieces of colonial legislation at significant historical junctures and secondary literature to do three things. Firstly, it examines how law aided the …

Go to article

Addressing Urban Income Inequality Through Education: A Case Study In Atlanta, Garrett Bronn May 2020

Addressing Urban Income Inequality Through Education: A Case Study In Atlanta, Garrett Bronn

Finance Undergraduate Honors Theses

For decades, the income inequality gap between the rich and poor has continued to expand dramatically, with criticism of existing education systems often at the heart of the issue. Large urban cities are commonly at the forefront of the issue, given the plethora of teacher strikes in recent years. Events such as the 11-day Chicago teacher’s strike in October of 2019 that idled academics and college prep for 350,000 students, have highlighted many current education issues (Hauck, 2019). With underfunded and poorly equipped middle and high schools, students in poor and minority neighborhoods in cities are less prepared academically, ill …

Go to article

Does Proximity To Fast Food Cause Childhood Obesity? Evidence From Public Housing, Jeehee Han, Amy Ellen Schwartz, Brian Elbel May 2020

Does Proximity To Fast Food Cause Childhood Obesity? Evidence From Public Housing, Jeehee Han, Amy Ellen Schwartz, Brian Elbel

Center for Policy Research

We examine the causal link between proximity to fast food and the incidence of childhood obesity among low-income households in New York City. Using individual-level longitudinal data on students living in public housing linked to restaurant location data, we exploit the naturally occurring within-development variation in distance to fast food restaurants to estimate the impact of proximity on obesity. Since the assignment of households to specific buildings is based upon availability at the time of assignment to public housing, the distance between student residence and retail outlets—including fast food restaurants, wait-service restaurants, supermarkets, and corner stores—is plausibly random. Our credibly …

Go to article

The Effect Of Signing Ballot Petitions On Turnout, Samuel Franklin Harper May 2020

The Effect Of Signing Ballot Petitions On Turnout, Samuel Franklin Harper

Political Science Undergraduate Honors Theses

In the Progressive Era, almost half of the U.S. states adopted the ballot initiative, the process by which citizens can petition to change their state’s laws or constitution independent of their state’s legislature. Many Progressives believed the initiative would have positive “educative effects” on voters, such as increasing voter turnout. Most studies show the Progressives’ hypothesis that the initiative would increase turnout was correct, but how and for whom the initiative increases turnout remains disputed. Using two Arkansas initiative petitions and the Arkansas voter registration file, I find that the act of signing a ballot initiative petition significantly increases the …

Go to article

Clusters In The Wilderness: A Theory Of The Economic And Policy Implications Of Location-Based Passions, Jack Marr May 2020

Clusters In The Wilderness: A Theory Of The Economic And Policy Implications Of Location-Based Passions, Jack Marr

Boise State University Theses and Dissertations

In the global war for talent and investment, local policymakers are at a seeming disadvantage particularly in smaller cities as talent and capital are mobile while local policies are not. This often results in wasteful “copy thy neighbor” “race-to-the-bottom” in local policies. In these three essays, I develop a theory of Location-Based Passions (LBPs) and show that individual job seekers will accept lower salaries and benefits to be close to what they love, that there are long-term economic benefits in terms of greater per capita income and higher housing values to being recognized as an LBP star city, and look …

Go to article

The Effectiveness Of Implementing A Collaborative Mental Health Approach On Quality Of Life For Individuals Of Low Socioeconomic Status, Tyler Z. Tooley May 2020

The Effectiveness Of Implementing A Collaborative Mental Health Approach On Quality Of Life For Individuals Of Low Socioeconomic Status, Tyler Z. Tooley

Graduate Theses/Dissertations

The ultimate purpose of this study is to provide insight and education to mental health clinicians, politicians and the general public of the numerous effects poverty has on mental health, in addition to the most beneficial ways to combat those insidious effects. The specific barriers met by individuals of low socioeconomic status severely affect psychological and physical health, as well as social and environmental relationships, which therefore diminish overall quality of life. The aim of this study is to examine the effectiveness of implementing a collaborative mental health approach for low income individuals on length of engagement in services and …

Go to article

Delay And Geographic Discounting Exert Multiple Control Over Climate Change Policy Preference, Celeste Noelle Unnerstall May 2020

Delay And Geographic Discounting Exert Multiple Control Over Climate Change Policy Preference, Celeste Noelle Unnerstall

Graduate Theses/Dissertations

The procedures were informed by a pilot investigation conducted by this research team that is described below. In the primary study, students attending Missouri State University chose between a policy with no restrictions or taxation on their carbon emissions versus a restriction on the amount of mileage driven per month and taxation related to the mileage. The main study also included an added variable of the influence a redistribution taxation policy into different geographic distances would have on policy preference. Results were interpreted in terms of a multilevel hyperbolic discounting model using the “R” program. The results suggest that there …

Go to article

Go Big With Economic Push To Fight Covid-19, David Fernandez May 2020

Go Big With Economic Push To Fight Covid-19, David Fernandez

Research Collection Lee Kong Chian School Of Business

Economic policymakers need to focus on taking bold and immediate action in order to tackle the pandemic crisis.

Go to article

Covid-19: Economic Recovery, Twitter, And Public Perception Of Las Vegas, Mary Blankenship, Caitlin Saladino, William E. Brown Jr. Apr 2020

Covid-19: Economic Recovery, Twitter, And Public Perception Of Las Vegas, Mary Blankenship, Caitlin Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet analyzes responses posted on Twitter following an interview conducted by CNN reporter Anderson Cooper, who interviewed Carolyn Goodman, Mayor of the City of Las Vegas, concerning the re-opening of the Las Vegas economy during the COVID-19 pandemic.

Go to article

Covid-19: Projected Job Loss In Mountain West States, Marie A. Falcone, Caitlin Saladino, William E. Brown Apr 2020

Covid-19: Projected Job Loss In Mountain West States, Marie A. Falcone, Caitlin Saladino, William E. Brown

Economic Development & Workforce

This Fact Sheet highlights Mountain West data from the Economic Policy Institute (EPI) report titled, “States are projected to lose more jobs due to the coronavirus: 14 million jobs could be lost by summer.” The original data source provides figures on the estimated job loss from private sector employment in retail, leisure, and hospitality. This Fact Sheet examines the data for large metropolitan Mountain West states (including Arizona, Colorado, Nevada, New Mexico, and Utah) with projected job loss in the coming months due to the coronavirus.

Go to article

Lessons Learned: Tony Fratto, Mercedes Cardona, Rosalind Z. Wiggins Apr 2020

Lessons Learned: Tony Fratto, Mercedes Cardona, Rosalind Z. Wiggins

Journal of Financial Crises

Fratto, who was Deputy Assistant and Deputy Press Secretary to the President during the financial crisis of 2007-2009, gives us his take on the government’s communications efforts and how best to prepare for future crises

Go to article

Lessons Learned: Jack Gutt, Mercedes Cardona Apr 2020

Lessons Learned: Jack Gutt, Mercedes Cardona

Journal of Financial Crises

Gutt, who joined the Federal Reserve Bank of New York in 2009 as Vice President, Head of Media Relations and Public Affairs, shares with us his reflections on that period.

Go to article

Lessons Learned: David Wessel, Ben Henken, Rosalind Z. Wiggins Apr 2020

Lessons Learned: David Wessel, Ben Henken, Rosalind Z. Wiggins

Journal of Financial Crises

Wessel, an award-winning journalist for The Wall Street Journal, talks about some of the issues faced by the media in covering the crisis, discusses the many challenges policymakers faced when trying to communicate the government’s crisis-fighting strategy, and shares suggestions for improvement.

Go to article

Lessons Learned: James (Jim) Millstein, Alec Buchholtz, Rosalind Z. Wiggins Apr 2020

Lessons Learned: James (Jim) Millstein, Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Millstein, who was the Chief Restructuring Officer, U.S. Department of the Treasury, during the Global Financial Crisis and instrumental in the rescue of American International Group, gives us his take on how best to prepare for future crises

Go to article

Restructuring And Forgiveness In Financial Crises D: The Japanese Financial Crisis Of The 1990s, Christian M. Mcnamara, Andrew Metrick Apr 2020

Restructuring And Forgiveness In Financial Crises D: The Japanese Financial Crisis Of The 1990s, Christian M. Mcnamara, Andrew Metrick

Journal of Financial Crises

In November 1997 the Japanese government confronted a problem of enormous proportions when the turmoil that had been roiling the financial markets since the collapse of a real estate and stock market asset bubble in 1990 reached a crescendo with the failure of four major financial institutions in quick succession in the space of a month. Prior to these failures, the damage done by the collapsing bubble had seemed to be limited to certain segments of the financial landscape, and the government’s response consisted largely of targeted intervention when necessary for clearly insolvent financial institutions, with a more comprehensive approach …

Go to article

Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94, Christian M. Mcnamara, Dr. Lars Thunell, Andrew Metrick Apr 2020

Restructuring And Forgiveness In Financial Crises C: The Swedish Banking Crisis Of 1990-94, Christian M. Mcnamara, Dr. Lars Thunell, Andrew Metrick

Journal of Financial Crises

In the Spring of 1992, the Swedish government faced a dilemma. The country was in the midst of an economic downturn stemming from the collapse of asset prices (especially in real estate) that had spiked as a result of a credit boom that followed the deregulation of the Swedish banking system in the mid-1980s. Initially the impact of the downturn on the country’s banks had seemed to be limited to a small number of specific firms that the government moved to assist on an ad hoc basis in 1991. However, evidence was mounting that the banking crisis was reaching a …

Go to article

Restructuring And Forgiveness In Financial Crises A: The Mexican Peso Crisis Of 1994-95, Christian M. Mcnamara, June Rhee, Andrew Metrick Apr 2020

Restructuring And Forgiveness In Financial Crises A: The Mexican Peso Crisis Of 1994-95, Christian M. Mcnamara, June Rhee, Andrew Metrick

Journal of Financial Crises

Following a year in which repeated political turmoil sapped investor confidence in Mexico, putting pressure on the peso and draining the country’s foreign exchange reserves, on December 22, 1994, the Mexican government sparked a financial crisis by unexpectedly abandoning its policy of anchoring the peso to the US dollar and instead allowing it to float freely. The resulting collapse of the peso left Mexico with $40 billion to $50 billion in external debt (much of it dollar-indexed) coming due in the near term and almost no foreign exchange reserves. Faced with the prospect that Mexico would either default on its …

Go to article

First Prev Next Last