Econometrics Commons^™

Socioeconomic Factors Affecting Gendered Happiness: A Cross-Sectional Study Of Oecd Countries, Anusha Khan

Empirical Economic Bulletin, An Undergraduate Journal

This paper explores how socioeconomic factors influence life satisfaction across OECD countries and how these effects vary by gender. Using a cross-sectional dataset, the study runs three separate regressions, total, men’s, and women’s happiness to test whether factors like health, education, safety, and support networks impact life satisfaction differently for men and women. A Random Forest model is also used to validate the robustness of selected predictors. Findings show that health and support matter universally, but men’s well-being is more closely tied to educational attainment, while women’s happiness is more sensitive to feelings of safety.

Decarbonization Under Carbon Policy And Pricing Shifts: A Machine Learning-Driven Synthetic Control And Panel Data Analysis, Chanboremey Teng

Empirical Economic Bulletin, An Undergraduate Journal

This study evaluates the effectiveness of carbon pricing instruments – Carbon taxes and Emissions Trading Systems (ETS) – in reducing CO2 emissions per capita across 152 countries from 1990 to 2023 using dynamic panel regressions with fixed effects. The analysis estimates both short-run and long-run effects while controlling economic structure, energy mix, and environmental policy stringency (EPS). The results show that ETS policies yield the strongest long-term reduction in emissions at approximately 7.35%, followed by carbon taxes at 5.6%, and EPS regulatory measures at 6.35%. However, when all three instruments are modeled together, the marginal effects of pricing mechanisms weaken, …

Effects Of Bureaucratic Corruption On Firms' Financial Constraints, Obinna Franklin Ezeibekwe

The Journal of Entrepreneurial Finance

This study provides the first empirical assessment of the causal impact of bureaucratic corruption on firms' financial constraints in Nigeria by calculating treatment effects using linear and non-linear estimators to account for potential heterogeneous treatment effects across firm groups. Formally, the theoretical framework models how corruption may facilitate or restrain firms' financial access by shaping their cost functions, which consequently influences their success or failure and ability to raise the collateral for borrowing. My analysis, using the bivariate probit method and two binary instruments, reveals that corruption significantly increases the probability of a representative MSME and firm being financially constrained …

Beyond The Suburban Ideal: Addressing Southern California’S Strained Affordable Housing Market Through Density Bonus Programs, Alissa Larue

School of Public Policy Capstones

This study examines how expanding Accessory Dwelling Units (ADUs) could serve as an effective policy solution to address the housing affordability crisis. In San Diego, a Bonus Program has been implemented to incentivize the construction of affordable ADUs by relaxing burdensome regulations. A Differences-in-Differences approach using two-way fixed effects is employed to evaluate the program's effectiveness in promoting ADU development, using city-level data from San Diego and Los Angeles counties. ADU permit applications serve as a key indicator of policy impact. The findings strongly suggest that the Bonus Program influenced increasing ADU permit applications in San Diego. Because the model …

Statistical Inference For Noisy Matrix Completion Incorporating Auxiliary Information, Shujie Ma, Po-Yao Niu, Yichong Zhang, Yinchu Zhu

Research Collection School Of Economics

This article investigates statistical inference for noisy matrix completion in a semi-supervised model when auxiliary covariates are available. The model consists of two parts. One part is a low-rank matrix induced by unobserved latent factors; the other part models the effects of the observed covariates through a coefficient matrix which is composed of high-dimensional column vectors. We model the observational pattern of the responses through a logistic regression of the covariates, and allow its probability to go to zero as the sample size increases. We apply an iterative least squares (LS) estimation approach in our considered context. The iterative LS …

Estimation And Inference In A Possibly Multicointegrated System With A Fixed Number Of Instruments, Yixiao Sun, Peter C. B. Phillips, Igor L. Kheifets

Research Collection School Of Economics

This paper shows that the mixed normal asymptotic limit of the trend IV estimator with a fixed number of deterministic instruments (fTIV) holds in both singular (multicointegrated) and nonsingular cointegration systems, thereby relaxing the exogeneity condition in (Phillips and Kheifets, 2024, Theorem 1(ii)). The mixed normality of the limiting distribution of fTIV allows for asymptotically pivotal F and t tests about the cointegration parameters and for simple efficiency comparisons of the estimators for different numbers K of instruments, as well as comparisons with the trend IV estimator when K→∞ with the sample size.

Nonstationary Heterogeneous Panels With Multiple Structural Changes, Badi H. Baltagi, Qu Feng, Wei Wang

Center for Policy Research

Nonstationary panels have been widely used in empirical studies in macroeconomics and finance. This paper considers multiple structural changes in nonstationary heterogeneous panels with common factors. Kapetanios, Pesaran, Yamagata (2011) showed that unobserved nonstationary factors can be proxied by cross-sectional averages of observable data. This means that unobserved error factors can be treated as additional regressors, and different break points in slopes and error factor loadings can be considered as multiple breaks in linear regression models with panel data. We generalize the least squares approach by Bai and Perron (1998) to nonstationary panels and show that the break points in …

Analysis Of Systematic Trade-Offs Between Military And Healthcare Expenditure Alongside Gdp Growth Of Select Asian And Western Exporting Economies In The 21st Century, Rahul Balamurugan, Carlos Gershenson, Preethi Nanjundan, Hiroki Sayama

Northeast Journal of Complex Systems (NEJCS)

This study explores the complexity in the trade-offs between military expenditure, healthcare expenditure, and GDP growth across select Asian nations and major weapon-exporting countries, examining how nations allocate finite resources between national security and human well-being over the past two decades. Using a systems science approach, the research integrates Granger causality testing to analyze temporal and directional relationships among GDP growth, military expenditure, and healthcare expenditure, uncovering their dynamic interdependencies. The methodology includes trend and slope analysis, Granger causality testing, outlier detection, and clustering to identify heterogeneity in resource allocation strategies. Developed, weapon-exporting nations exhibit complementary trends, with strong causality …

Food Self-Sufficiency And Building-Integrated Urban Agriculture: Lessons From Singapore, Tomoki Fujii, Christoph Waibel, Xinyi Du, Zhongming Shi

Research Collection School Of Economics

Singapore aims to achieve 30 percent food self-sufficiency by 2030, known as the 30-by-30 target, and this paper reviews Singapore’s changing landscape for urban agriculture and its recent progress towards the 30-by-30 goal, highlighting key challenges such as land constraints, high production costs, and resource limitations. Building-integrated agriculture (BIA), which utilizes building surfaces such as rooftops, façades, and balconies for food production within urban environments, is examined as a potential way to increase self-sufficiency through a simulation. Despite the BIA’s potential, practical issues—including regulatory concerns and infrastructure limitations—must be addressed before it can be implemented at scale. Insights from Singapore’s …

Religion And Economic Development: Past, Present, And Future, Sascha O. Becker, Amma Panin, Steven J. Pfaff, Jared Rubin

ESI Working Papers

This chapter examines the role of religion in economic development, both historically and today. Religion's influence varies globally, with high religiosity in countries like Pakistan and low rates in China. Despite declines in some Western countries, religion remains influential worldwide, with projected growth in Muslim populations due to higher fertility rates. Religion continues to shape societal norms and institutions, such as education and politics, even after its direct influence fades. The chapter explores how religious institutions and norms have impacted economic outcomes, focusing on both persistence and decline. It also examines cultural transmission, institutional entrenchment, networks, and religious competition as …

Religion, Culture, And Politics, Jared Rubin

ESI Working Papers

This chapter presents a conceptual framework for understanding the interaction of religion, ideology, and politics. The framework’s key insights are: i) culture and ideology provide a shared mental framework for interpreting the world; ii) ideology is malleable, and it can be used to justify a wide set of empirical realities in a manner that is consistent with the prevailing mental framework; iii) religion is particularly adept at shaping this mental framework because it attempts to explain the unknown; iv) because co-religionists share a mental framework that depends on a (religious) interpretation of events, religions are particularly likely to be co-opted …

Fintech’S Rise Reshaping Asean’S Financial Future, Swee Liang Tan

Research Collection School Of Economics

Fintech can offset the diminishing effects of bank lending on economic growth. By leveraging innovative technologies, fintech companies can reduce transaction costs, address information asymmetry issues and streamline processes such as customer evaluation and risk assessment. This strategic collaboration between banks and fintech firms can lead to improved efficiency and effectiveness in financial services, such as pressuring traditional banks to innovate in areas such as customer interface and processes, ultimately boosting economic growth.

Poverty Among New York City’S Most Vulnerable: 2000-2022, Juan Dolores Cerna, Suleyma Vergara-Tapia

Center for Latin American, Caribbean, and Latino Studies

This report examines the trends of poverty in New York City between the years 2000 and 2022, focusing on economically vulnerable groups such as women, children, and older adults

Methods

This report uses data for the years 2000, 2012, and 2022 released by the U.S. Census Bureau and harmonized for public use by IPUMS USA at the University of Minnesota. See Steven Ruggles, Sarah Flood, Ma hew Sobek, Daniel Backman, Annie Chen, Grace Cooper, Stephanie Richards, Renae Rodgers, and Megan Schouweiler. IPUMS USA: Version 15.0 [dataset]. Minneapolis, MN: IPUMS, 2024. https://www.ipums.org/projects/ipums-usa/d010.V15.0

Discussion

From 2000 to 2022, New York City experienced …

Twitter Based Uncertainty And Stock Returns Connectedness In Case Of Selected Apec Countries, Badri Narayan Rath, Chinmaya Behera

Bulletin of Monetary Economics and Banking

The aim of the paper is to unravel evidence of non-linear causality and connectedness between Twitter-based uncertainty and stock market returns for selected APEC countries. By using a non-linear Granger causality test, the study finds that Twitterbased uncertainty causes stock returns of Japan and Singapore. Further, the results also confirm the presence of volatility spillover between Twitter uncertainty and stock returns. Thus, volatility spillover from Twitter-based uncertainty and financial market returns provides insights to investors on adjusting their investments between the countries.

The Impact Of Financial Inclusion On Inflation In The Mena Region: Oil Vs Non-Oil Countries, Jailan Elsaid

Theses and Dissertations

The study examines the impact of financial inclusion on inflation as a tool for monetary policy effectiveness in the MENA region, separating the analysis into oil and non-oil countries from 2004 to 2022. The Principal Component Analysis (PCA) technique is used to create a multidimensional index of financial inclusion through usage and access dimensions. Additionally, PVAR GMM estimation and Granger causality tests are implemented to analyze the dynamics and causality between financial inclusion and inflation, while controlling for other variables such as broad money, real effective exchange rate, and real GDP growth, which may influence the relationship according to the …

From Home To Abroad: The Intergenerational Impact Of Household Member Migration On Women’S Economic & Social Empowerment In Egypt, Menna Elgohary

Theses and Dissertations

This thesis investigates to what extent the migration of a household member to an Arab country leads to increased social and economic empowerment among Egyptian women of two age categories (15-35 and +35) over two waves. Determined through Principle Component Analysis (PCA) of panel data from Egypt Labor Market Panel Surveys in 2018 and 2023, composite indices of social and economic empowerment serve as dependent variables in an IV 2SLS regression model. The model assesses whether household member migration, proxied by migration prevalence on the district (qism) level as an IV, causes a significant increase in social and economic empowerment …

Internet Penetration And Firm Innovation In The Digital Era: A Sectoral Analysis Of U.S. Firms, Mariam Elgarf

Theses and Dissertations

This paper studies the effect of macro-level internet penetration on firm-level innovation in the United States, proxied by research and development expenditure. The IV approach is used to address the problem of potential endogeneity, covering data from 2000 to 2022 across five super industries: consumer goods and retail, energy and electricity, media and entertainment, financial services, and technology and telecommunications. The results show that internet penetration has a positive effect on the innovative performance of all sectors; however, this effect is more pronounced in the financial service and media sectors. Firm-specific characteristics also influence this relationship, such as debt-to-assets ratio, …

Essays In Industrial Organization, Nilesh Kumar Jain

Doctoral Theses

This thesis contains three chapters on industrial organization, covering two distinct topics. Chapters 1 and 2 examine the impact of firm owner's corruption on the organization, while Chapter 3 analyzes the market dynamics of a two-sided newspaper market.\medskip The first chapter investigates the agency conflict that arises when the principal (the owner) of a firm is involved in corruption. A corruptible principal has an incentive to conceal his or her illegal activities, while the agent (CEO or manager), due to their information advantage, is in a position to monitor this corruption, thus creating an agency conflict. We show that such …

How Do Insurance Companies Manage Reserves? Evidence From Reserve Errors Across Lines Of Business And Accident Years, Jing Rong Goh, Shinichi Kamiya, Pingyi Lou

Research Collection School Of Economics

We study the question of how insurance companies manage reserves. Specifically, we investigate how managerial incentives affect insurers’ reserving practice across lines of business (LOBs) and accident years (AYs). Because the tax discount factor the tax authority assigns varies across LOBs and AYs, insurers with stronger tax-saving incentives will be inclined to manage reserves across both LOBs and AYs. In contrast, since the Risk Based Capital (RBC) regime specifies different industry worst-case factors across LOBs, insurers with stronger incentives to increase their RBC ratio will be inclined to manage reserves across LOBs. Regarding income-smoothing incentives, only the overall level (and …

Banking And The Wider Economy: Essays On Capital And Cross-Border Risks, Morgan Hunt

Dissertations, Theses, and Capstone Projects

Chapter 1: This paper examines the impact of growth in the banking industry’s capital and assets on real output growth at both aggregate and industry levels using a short-run factor-augmented vector autoregression (FAVAR) model across 19 NAICS two-digit industries from 2007Q1 to 2019Q4. Results reveal that changes in capital growth significantly affect output growth in the Manufacturing and Finance industries, while changes in risk-weighted assets impact the Construction, Manufacturing, Real Estate, and Transportation industries. Conversely, output growth in the Manufacturing and Retail Trade industries influences capital growth, while Wholesale Trade output growth affects risk-weighted assets. These relationships are robust …