The Evolution Of Fiscal Impact Analysis And Where It Needs To Go,
2022
TischlerBise
The Evolution Of Fiscal Impact Analysis And Where It Needs To Go, L. Carson Bise, Colin Mcaweeney
Journal of Comparative Urban Law and Policy
Communities need analytical tools and technical support to assess and balance multiple priorities when making land use and development decisions. For many communities, priorities to be considered regarding land use decisions include resource conservation and climate adaptation, economic development, investing in new versus existing communities, and maintaining fiscal responsibility. This article examines the historical use of fiscal impact analysis and some thoughts on where the field should go in the future.
Heterogeneous Decision-Making And Market Power: An Application To Eurozone Banks,
2022
The University of Texas Rio Grande Valley
Heterogeneous Decision-Making And Market Power: An Application To Eurozone Banks, Levent Kutlu, Robin C. Sickles, Mike G. Tsionas, Emmanuel Mamatzakis
Economics and Finance Faculty Publications
We provide a structural model wherein the decision-makers are payoff maximizers in a general game theoretic setting in which heterogeneity is formally factored into the decisions of the players. The decision-makers are allowed to have different groups; and parameters are the same within each group but they differ across group. Using insights from our treatment of heterogeneous and strategic decision-making, we estimate the conducts (market powers) of Eurozone banks for years 2002–2015. We find that Eurozone banks are fairly competitive. However, banks in peripheral countries have more market power compared to the core of Eurozone.
Monetary Policy And Banking Sector Stability In Nigeria,
2022
Central Bank of Nigeria
Monetary Policy And Banking Sector Stability In Nigeria, Didigu Chizoba E., Joshua Nsikak J., Okon Joel I., Eze Annette O., Gopar Jurbe Y., Oraemesi Charles N., Udofia Blessing-Oxford U., Yisa Daniel N., Ejinkonye Jude C., Ette Victoria E.
CBN Journal of Applied Statistics (JAS)
This study investigates the impact of monetary policy on banking sector stability in Nigeria, utilizing quarterly data for the period 2007Q1 to 2021Q4. The study employs the autoregressive distributed lag (ARDL) bounds testing approach to cointegration. Results show that a long run relationship exist between banking sector stability and monetary policy in Nigeria. Furthermore, monetary policy rate, liquidity ratio, and cash reserve ratio are found to enhance banking sector stability. The study recommends, among others, that cash reserve and liquidity ratios should be kept at levels that will prevent excess liquidity in the system.
Economic Opportunity And Community Development Financial Institutions In Clark County, Ar And Beyond: An Analysis,
2022
University of Arkansas, Fayetteville
Economic Opportunity And Community Development Financial Institutions In Clark County, Ar And Beyond: An Analysis, Magdalena Hopkins
Economics Undergraduate Honors Theses
Arkansas is home to one of the greatest projects in the world of Community Development Financial Institutions: Southern Bancorp. Founded with the help and support of Bill Clinton, it pre-dates The Riegle Community Development and Regulatory Improvement Act of 1994, which is now used to fund similar Community Development Financial Institutions. According to the Opportunity Finance Network (2022), there are more than 1,200 Community Development Financial Institutions in the United States. These institutions span the country and operate in unique communities. The CDFI Coalition (2017) cites Arkansas as having 19 Community Development Financial Institutions in the state. It is important …
A Garch Approach To Modeling Chilean Long-Term Swap Yields,
2022
Citibank
A Garch Approach To Modeling Chilean Long-Term Swap Yields, Tanweer Akram, Khawaja Mamun
WCBT Working Papers
This paper econometrically models the dynamics of the Chilean interbank swap yields based on macroeconomic factors. It examines whether the month-over-month change in the short-term interest rate has a decisive influence on the long-term swap yield after controlling for other factors, such as the change in inflation, change in the growth of industrial production, change in the log of the equity price index, and change in the log of the exchange rate. It applies the generalized autoregressive conditional heteroskedasticity (GARCH) approach to model the dynamics of the long-term swap yield. The change in the short-term interest rate has an economically …
Covid-19 And Its Impact On Minority-Owned Banks,
2022
The University of Texas Rio Grande Valley
Covid-19 And Its Impact On Minority-Owned Banks, Salvador Contreras, Amit Ghosh
Economics and Finance Faculty Publications
Employing a difference-in-differences framework, we examine the effect of COVID-19 on various performance metrics of minority-owned banks relative to peer banks. We find little evidence of worsening performance of minority-owned banks, except for Asian-owned banks. In some instances, minority banks show improved performance. We find a decline in nonperforming single-family residential loans for Hispanic-owned banks. Moreover, minority banks have disbursed more Paycheck Protection Program (PPP) loans than their matched non-minority counterparts. Their resilient performance indicates that minority banks are well positioned to aid in the ongoing economic recovery.
Laissez-Faire, Social Networks, And Race In A Pandemic,
2022
The University of Texas Rio Grande Valley
Laissez-Faire, Social Networks, And Race In A Pandemic, Roland Pongou, Guy Tchuente, Jean-Baptiste Tondji
Economics and Finance Faculty Publications
We study the effects of race, network centrality, and policies that tolerate some level of virus spread (laissez-faire) on COVID-19 deaths in nursing homes in the United States. Our analysis uses unique data on nursing home networks and calibration-based estimates of states' preferences for health relative to short-term economic gains. Our findings suggest that laissez-faire policies increase deaths. Nursing homes with a larger share of Black residents experience more deaths, but they are less vulnerable to laissez-faire policies, especially when not central in social networks. Our findings highlight significant interactions between COVID-19 policies, race, and network structure among US seniors.
Essays On Bank Performance, Strategic Behavior, And Community Development With A Focus On Minority Depository Institutions And The Political Economy Of Forgiving Student Loans,
2022
Clemson University
Essays On Bank Performance, Strategic Behavior, And Community Development With A Focus On Minority Depository Institutions And The Political Economy Of Forgiving Student Loans, Guncha Babajanova
All Dissertations
I explore questions related to financial institutions, the accessibility of financial services, community development, and the political economy of forgiving student loans using the ideas from spatial economics, industrial organization, and public choice. Increased access to financial services improves the economic outcomes of individuals and firms in the community. Understanding sources leading to a lower accessibility of financial services is integral for an effective endeavor to lower barriers to financial services with far-reaching policy and economic implications. The economic literature provides evidence of the beneficial effects of increased access to financial services as well as the adverse effects of diminished …
A Black-Scholes User's Guide To The Bachelier Model,
2022
Peking University
A Black-Scholes User's Guide To The Bachelier Model, Jaehyuk Choi, Minsuk Kwak, Chyng Wen Tee, Yumeng Wang
Research Collection Lee Kong Chian School Of Business
To cope with the negative oil futures price caused by the COVID-19 recession, global commodity futures exchanges switched the option model from Black-Scholes to Bachelier in April 2020. This study reviews the literature on Bachelier's pioneering option pricing model and summarizes the practical results on volatility conversion, risk management, stochastic volatility, and barrier options pricing to facilitate the model transition. In particular, using the displaced Black-Scholes model as a model family with the Black-Scholes and Bachelier models as special cases, we not only connect the two models but also present a continuous spectrum of model choices.
Inflation And Ukraine War Make It Challenging For Our Beloved Value Stores To Survive,
2022
Singapore Management University
Inflation And Ukraine War Make It Challenging For Our Beloved Value Stores To Survive, Aurobindo Ghosh, Taimur Baig
Research Collection Lee Kong Chian School Of Business
In a joint commentary, SMU Assistant Professor of Finance (Education) and Principal Investigator of DBS-SKBI Singapore Index of Inflation Expectations Project Aurobindo Ghosh and Chief Economist and Managing Director at DBS Bank Dr Taimur Baig discussed how global inflationary pressures and rising commodity prices due to war in Ukraine and sanctions against Russia are culminating into a perfect storm and making it challenging for value stores to survive. They also gave advice on what value stores can do to survive this perfect storm.
Money Supply And Inflation After Covid-19,
2022
Montclair State University
Money Supply And Inflation After Covid-19, Orkideh Gharehgozli, Sunhyung Lee
Department of Economics Faculty Scholarship and Creative Works
The core personal consumption expenditure (PCE) price index, the Federal Reserve’s preferred inflation gauge, rose to 5.2 percent on January 2022, which is the highest rate of increase since 40 years ago. Our estimates show that the annualized quarterly core PCE prices could reach 5.45% in the second quarter of 2022 and are as high as 8.57% in a longer time horizon unless corrected with restrictive monetary policies. Thus, the inflation shock since COVID-19 is not transitory, but it is persistent. As economists expect the Federal Reserve to tighten the money supply in March 2022, the insufficient policy responses may …
Success Factors For Promoting Living Wages In Richmond Virginia,
2022
University of Richmond
Success Factors For Promoting Living Wages In Richmond Virginia, Alison Kent
School of Professional and Continuing Studies Nonprofit Studies Capstone Projects
Advancing living wages helps reduce poverty, enable individuals to realize their full societal potential, and support overall economic growth. In this paper, I describe a research project I undertook in Richmond, Virginia to identify impactful actions that can be taken to promote living wages. I identified the roles of organizations across different sectors and subsectors and how these organizations collaborate to drive living wages. I define the model that has evolved in Richmond, Virginia and I compare it to models employed in other communities. I close by identifying those components which are unique and powerful in the Richmond model and …
Financial Literacy As It Relates To Food Insecurity,
2022
University of Nevada, Las Vegas
Financial Literacy As It Relates To Food Insecurity, Allister C. Dias
Undergraduate Research Symposium Podium Presentations
In reference to individual-level financial literacy: 1. What role does financial literacy play in determining food security? 2. What affect does race/ethnicity play in the likelihood of being food insecure? How does the effect of financial literacy vary across the dimension of race/ethnicity?
The Impact Of Female Leadership On Lgbtq-Supportive Policies,
2022
Bryant University
The Impact Of Female Leadership On Lgbtq-Supportive Policies, Samantha Bove
Honors Projects in Finance
In the past two decades, gender inequality in c-suites has received a large amount of attention. Thus, the number of women in top management roles has increased substantially. However, the corporate sector has also neglected other marginalized groups, specifically, members of the LGBTQ community. These individuals are important employees and previous literature has established the benefits, both financial and otherwise, that the presence of LGBTQ supportive policies have on American corporations. In this paper, I examine if the presence of women CEOs influences the LGBTQ policies that are implemented in that firm. This will be analyzed using an OLS regression …
Footballer Valuations: Valuing World-Class Football Players Against Transfer Fees,
2022
Bryant University
Footballer Valuations: Valuing World-Class Football Players Against Transfer Fees, Louis Diblasi
Honors Projects in Economics
This paper aims to create a model to value European football players. It will do so by comparing a player's transfer fee and then measuring their value based on performances in the season after the transfer has occurred. The model will be applied to Europe's top five leagues: the English Premier League, Serie A, La Liga, Ligue 1, and the German Bundesliga. This study takes variables from multiple past studies to be used in the model, and adds a valuation for goalkeepers, which has never been done before. The goal of this study is to measure the variables that contribute …
Does It Pay To Be Good? The Performance Of Indonesian Green Companies From 2009 - 2018,
2022
Universitas Indonesia
Does It Pay To Be Good? The Performance Of Indonesian Green Companies From 2009 - 2018, Ega Annisa Rizti, Berli Martawardaya
Economics and Finance in Indonesia
In Indonesia, KEHATI Sustainable and Responsible Investment (SRI) Index, hereafter referred to as SKI, aims to raise public awareness and help pro-environmental investors by selecting 25 highly rated public companies that adhere to the internationally accepted green business standard. This paper compared the financial performance of the companies listed in SKI and their counterparts between the period of January 2009 and December 2018 by predicting their future opening price of stock, comparing the performance of SKI to JKSE market index, and examining their financial performance using ROA and ROE as dependent variables. The findings suggest that being included in SKI …
The Impact Of Foreign Investment On Firm Performance: Indonesia After The 2007 Fdi Reform,
2022
Universitas Indonesia
The Impact Of Foreign Investment On Firm Performance: Indonesia After The 2007 Fdi Reform, Nauval Hafiluddin, Arianto Arif Patunru
Economics and Finance in Indonesia
Foreign Direct Investment (FDI) plays a crucial role in the economy of Indonesia. The new FDI law passed in 2007 serves as a new milestone in the FDI regime in Indonesia. As the country implements the new regulation, the impact of foreign investment on firm performance becomes an interesting subject. This paper aims to estimate the effect of foreign investment on the productivity and contribution of firms in relation to the new FDI law in Indonesia. This study employed a combination of Propensity Score Matching (PSM) and Difference-in-Differences (DiD) methods to eliminate endogeneity problems and to examine causality. We discover …
Why The Rate Of Return Of Religious School (Madrasah) Is Too Low: The Case In Indonesia,
2022
Universitas Indonesia
Why The Rate Of Return Of Religious School (Madrasah) Is Too Low: The Case In Indonesia, Elfindri Elfindri, Edi Ariyanto, Sri Maryati, Delfia Tanjung Sari
Economics and Finance in Indonesia
Religious schools (madrasah) in Indonesia have contributed to fulfilling the equity goals of education. Up to this point, studies on the rate of return of madrasah and its relation to general or vocational education remain limited. In contrast to the previous studies that omit madrasah from their analysis, this study pay greater attention to this particular type of education. By adopting the Mincerian model of the human capital and applying the semi-log earnings function to the 2012 data of the National Socioeconomic Survey (SUSENAS) of Indonesia, this study discovers that the rate of return of graduates from madrasah is considerably …
Lessons Learned: Harry Wilson,
2022
Yale University
Lessons Learned: Harry Wilson, Mary Anne Chute Lynch
Journal of Financial Crises
Harry Wilson was one of four senior advisers to the US Department of the Treasury during the Obama administration and served on the President’s Task Force on the Auto Industry, which was established in 2009 and charged with providing aid to General Motors and Chrysler, and later to other entities, to avoid their disorderly failure and the loss of a million or more jobs. The Auto Task Force worked intensively throughout 2009 to swiftly negotiate with the corporate leadership, unions, investors, and other stakeholders of the two manufacturers to design an orderly restructuring that would put the companies on a …
Lessons Learned: Steven Rattner,
2022
Yale University
Lessons Learned: Steven Rattner, Mary Anne Chute Lynch
Journal of Financial Crises
Steven Rattner, an investment banker and private equity professional, joined the Obama administration as counselor to the Secretary of the Treasury and head of the Obama administration’s Task Force on the Auto Industry, which was charged with providing aid to Chrysler and General Motors, and later to other entities, to avoid their disorderly failure and the loss of a million or more jobs. The Auto Task Force worked intensely throughout 2009 to swiftly negotiate with the corporate leadership, unions, investors, and other stakeholders of the two manufacturers to design an orderly restructuring that would put the companies on a path …
