Econometrics Commons^™

Rhode Island Current Conditions Index -- February 2020, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Corrigendum To "On Time-Varying Factor Models: Estimation And Testing" [J. Econometrics 198 (2017) 84-101], Liangjun Su, Xia Wang

Research Collection School Of Economics

We note that Su and Wang (2017, On Time-varying Factor Models: Estimation and Testing, Journal of Econometrics 198, 84-101) ignore the bias terms when estimating the time-varying factor models. In this note, we correct the theoretical results on the estimation of time-varying factor models. The asymptotic results for testing the correct specification of time invariant factor loadings are not affected.

Essays On The Application Of The Machine Learning Methods In Finance And Policy Evaluation, Olga Guska

Dissertations, Theses, and Capstone Projects

In the age when "Big Data" is becoming almost a household word, such abundance of information in different forms and representations can be of a great help for one's decision-making let it be a trader betting on a stock, or a policy-maker assessing the potential impact of proposed regulation. Whereas traditional economic research is primarily based on the use of numerical data continuous or discrete, there is a great deal of useful information that can be extracted from text data. Such information can power novel identification strategies or help perceive solutions from a different angle, but observed volumes of such …

Local Powers Of Least-Squares-Based Test For Panel Fractional Ornstein-Uhlenbeck Process, Katsuto Tanaka, Weilin Xiao, Jun Yu

Research Collection School Of Economics

Based on the least squares estimator, this paper proposes a novel method to test the sign of the persistence parameter in a panel fractional Ornstein-Uhlenbeck process with a known Hurst parameter H. Depending on H ∈ (1/2, 1), H = 1/2, or H ∈ (0, 1/2), three test statistics are considered. In the null hypothesis the persistence parameter is zero. Based on a panel of continuous record of observations, the null asymptotic distributions are obtained when T is fixed and N is assumed to go to infinity, where T is the time span of the sample and N is the …

Working Too Much For Too Little: Stochastic Rewards Cause Work Addiction, Brice Corgnet, Simon Gaechter, Roberto Hernán González

ESI Working Papers

People are generally assumed to shy away from activities generating stochastic rewards, thus re-quiring extra compensation for handling any additional risk. In contrast with this view, neurosci-ence research with animals has shown that stochastic rewards may act as a powerful motivator. Applying these ideas to the study of work addiction in humans, and using a new experimental paradigm, we demonstrate how stochastic rewards may lead people to continue working on a re-petitive and effortful task even after monetary compensation becomes saliently negligible. In line with our hypotheses, we show that persistence on the work task is especially pronounced when the …

Harnessing The Power Of Social Incentives To Curb Shirking In Teams, Brice Corgnet, Brian C. Gunia, Roberto Hernán González

ESI Working Papers

We study several solutions to shirking in teams that trigger social incentives by reshaping the workplace social context. Using an experimental design, we manipulate social pressure at work by varying the type of workplace monitoring and the extent to which employees engage in social interaction. This design allows us to assess the effectiveness as well as the popularity of each solution. Despite similar effectiveness in boosting productivity across solutions, only organizational systems involving social interaction (via chat) were at least as popular as a baseline treatment. This suggests that any solution based on promoting social interaction is more likely to …

Adam Smith’S Theory Of Value: A Reappraisal Of Classical Price Discovery, Sabiou M. Inoua, Vernon L. Smith

ESI Working Papers

The relevance of Adam Smith for understanding human morality and sociality is recognized in the growing interest in his work on moral sentiments among scholars of various academic backgrounds. But, paradoxically, Adam Smith’s theory of economic value enjoys a less prominent stature today among economists, who, while they view him as the “father of modern economics”, considered him more as having had the right intuitions about a market economy than as having developed the right concepts and the technical tools for studying it. Yet the neoclassical tradition, which replaced the classical school around 1870, failed to provide a satisfactory theory …

An Empirical Analysis Of The Nba Draft From 2006- 2014, Lloyd Ellison

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates how well the NBA (National Basketball Association) does at drafting talent that succeeds. There has always been a question of if NBA prospects can have their NBA talent forecasted. The study seeks to compare different draft years and compare if the model can determine which athletes will become successful. The study seeks to use college statistics as well as the NBA draft combine data (which includes height, weight, wingspan, etc.) The study will be cross-sectional to get the best view of a bunch of players and because depth of talent can vary year to year

Rhode Island Current Conditions Index -- January 2020, Leonard Lardaro

The Rhode Island Current Conditions Index

No abstract provided.

Impacts Of Wealth On Hiv Testing In Malawi: Empirical Analysis, Anthony Murray

Empirical Economic Bulletin, An Undergraduate Journal

This paper explores the relationship between wealth and HIV testing in the nation of Malawi, building off of previous work that tried to isolate the relationship between income and a given health outcome. Due to a variety of issues such as inaccurate self-reporting and difficulty in combining various sources of income accurately, this paper replaces income in an existing Malawi health-income model with wealth, measured by the number and kinds of possessions they owned and then scored using principal component analysis. The model used is a logit model with HIV testing as the dependent variable and wealth as the independent …

Mapping Socioeconomic Indicators By Race And County In Arkansas, Mervin Jebaraj, David Sorto

Urban League of the State of Arkansas

The Urban League of the State of Arkansas seeks to lead efforts in advancing and obtaining equal opportunities for all citizens with a particular focus in the areas of health, education, jobs, and housing. In keeping with this mission, the Urban League of Arkansas partnered with the Center for Business and Economic Research in the Sam M. Walton College of Business at the University of Arkansas to produce a report that provides data to identify key areas of need in the African American and Latinx communities in Arkansas and develop programs and policies to address them.

In this report, the …

An Empirical Analysis Of The Leading Determinants Behind The Opioid Epidemic The 50 States, Sydney Levine

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the determining factors influencing the opioid epidemic in each of the 50 states of the United States of America. The opioid epidemic is a rising concern throughout the nation and has been associated with economic conditions. The health crisis poses additional threats to the labor market and the overall economy. This study looks at the age adjusted opioid death rate per 100,000 people as the dependent variable and how unemployment rate, the labor force participation rate, ESOOS funding, the number of hospitals, Median household income, the GINI index, adults reporting poor mental health status, individuals reporting past …

An Empirical Analysis Of Short-Term Rentals On Newly Built Homes In The United States, Matthew Garrison

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the effects short-term rentals have on the price of newly built homes. The study uses data from the Manufactured Housing Survey Public File to perform an empirical analysis of whether the Rental Vacancy Rate effects the price of newly built homes. We find that the Rental Vacancy Rate does have a significant effect (p < .01), which parallels some past research. This may have implications for regulation of short-term rentals.

Infant Mortality Rate And Life Expectancy Across High Income Nations: A Panel Data Analysis, Matthew Antonino

Empirical Economic Bulletin, An Undergraduate Journal

This paper will investigate the connection of infant mortality rate and life expectancy across the world. Particularly in those countries that are considered to be High Income. It will investigate multiple different variables using an econometric approach to find whether there is a correlation. The data will be collected using WDI and will be using multiple high income countries from each region of the world. By spreading the data collection across multiple continents, it will allow for multiple variables to account for differences in lifestyle.

Inequality And Economic Growth In Latin America, Benjamin Steen

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the possibility of a relationship between the level of inequality and the GDP per capita in the countries in Latin America. Using a panel data model with fixed countries effects. we expect to examine the influences of GDP per capita and the variables that affect it in the countries of the region. The expected results of this paper are to find that the relationship between the income inequality and GDP per capita is negative.

Effect Of Consumption Of Non-Durable Goods On Greenhouse Gas Emissions In The U.S. And Brazil: An Empirical Analysis, Nathaniel Taylor

Empirical Economic Bulletin, An Undergraduate Journal

This paper explores how consumption of nondurable goods in the United States and Brazil is linked to greenhouse gas emissions, specifically carbon dioxide (CO2), nitrous dioxide (N2O), and methane (CH4). Non-durable goods pollute the environment through production, transportation, consumption, and decomposition. The overconsumption of non-durable goods such as food, fuel, cosmetics, tobacco, and clothing are causing deforestation, loss of soil, soil pollution, and many more. After measuring the levels of pollutants from 2003-2017, they are compared to non-durable good consumption rates. This paper uses a collection of data from St. Louis Federal Reserve Economic Data (FRED) regarding consumption indicators, the …

Homeownership Rate And Other House Price Determinants Impacts On New House Prices In Colombia, Hector A. Botello-Peñaloza

Journal for the Advancement of Developing Economies

Homeownership remains a preferred form of tenancy in different parts of the world. The attractions of security, stability, investment potential and a sense of pride outweigh the fear of price instability. For this reason, the Colombian government has encouraged in recent years, various demand policies that have sought to promote the increase in the number of homeowners. However, these ideas could have a severe impact on prices in the real estate market. Therefore, this study seeks to examine the effect of homeownership rate on new house prices in an emerging country with low real estate ownership, credit restrictions and average …

Corruption, Government Effectiveness And Human Development In Sub-Saharan Africa, Sakiru O. Akinbode, Jayeola Olabisi, Remilekun R. Adegbite, Timothy A. Aderemi, Abimbola M. Alawode

Journal for the Advancement of Developing Economies

Aside economic factors causing low human development which have been extensively studied in literature, the implications of high level of corruption and weak governance prevalent in sub- Saharan African (SSA) countries have not been explored. The study assessed the effects of corruption, government effectiveness and their joint effect on human development in SSA. Data collected on thirty-seven (37) countries within the period of 2005 to 2018 were analyzed using system Generalized Method of Moment which was most suitable for the dataset. Results indicated that lagged human development index (P<0.01), government effectiveness (P<0.05), economic growth rate (P<0.1) and government health spending (P<0.1) had significant positive effect on human development while corruption and its interaction with government effectiveness did not. The results of Arrelano-Bond test of first order autocorrelation and second order autocorrelation of error term as well as the Sargan test and Hansen J test for validity of instrumental variables confirmed the validity of the model. The robustness of the estimation was established as the coefficient of the lagged dependent variable fell between the values in the fixed effect and pooled ordinary least square regression. The study recommended retraining and reorientation of government employees towards the mindset of effective service delivery and strong political will to achieve it, diversification of SSA economies alongside other growth stimulating policies such as reduced lending interest rate on loans meant for the real sector, improvement in the ease of doing business, improved funding of the health sector and proper monitoring of activities in the public service by concerned agencies to curb corruption where it is present.

The Desire For Luxury In Emerging Markets: An Interactional Perspective On Consumer Motivations In Tunisia, Pranjal Gupta,, Mouna Zaghdoudi

Journal for the Advancement of Developing Economies

The motivations underlying the desire for luxury products and services have long been the subject of academic inquiry. An understanding of these motivations is useful for the luxury market industry to help managers formulate better marketing strategies. Further, such knowledge would also be useful to public policy makers to help them mitigate societal problems that may occur as a result of such consumption. Of particular interest is the growth of the luxury market in emerging economies. This study spotlights the luxury market in Tunisia. Previous work has demonstrated that age has a significant impact both on willingness to buy luxury …

Unconditional Quantile Regression Analysis Of Uk Inbound Tourist Expenditures, Abhijit Sharma, Richard Woodward, Stefano Grillini

Articles

Using International Passenger Survey (2017) data, this paper employs unconditional quantile regression (UQR) to analyse the determinants of tourist expenditure amongst inbound tourists to the United Kingdom. UQR allows us to estimate heterogeneous effects at any quantile of the distribution of the dependent variable. It overcomes the econometric limitations of ordinary least squares and quantile regression based estimates typically used to investigate tourism expenditures. However, our results reveal that the effects of our explanatory variables change across the distribution of tourist expenditure. This has important implications for those tasked with devising policies to enhance the UK’s tourist flows and expenditures.