Economics Commons^™

A Machine Learning Approach To Stochastic Frontier Modeling, Levent Kutlu, Xi Mao, Xuelei Sherry Ni

School of Economics and Finance Faculty Publications

We propose a deep neural network based stochastic frontier model that can handle complex non-linear patterns both in the frontier and in the distribution of inefficiency term. To illustrate our methodology, we employ quarterly data to estimate the technical efficiencies of large US banks from the first quarter of 1984 to the second quarter of 2010. The mean efficiency of US banks during this time period is 89.43%. Between 2004 and 2008, the mean efficiencies of these banks are significantly lower than the overall average, with an average of 81.30%. This is in line with the financial conditions experienced during …

Essays In The Political Economy Of Non-Democracies, Mate Malashkhia

Arts & Sciences Graduate Student Theses and Dissertations

Over half of the world’s population lives under non-democratic rule, where citizen preferences are often ignored and institutions such as independent courts are generally absent (Gehlbach et al., 2016). In these regimes, elections do not serve as a viable mechanism for regime change: incumbents can, in principle, always rely on electoral fraud and declare victory. In addition, although opposition parties often exist, they face severe constraints in reaching the public due to state repression, slanted media environments, and limited access to resources and funding. While recent scholarship has increasingly focused on authoritarian politics, much of this work centers on incumbents’ …

Supersuit Up Or Get Left Behind: Why A Personal Agentic Os Is Required For Commercial Viability In The New Economy, Gary Sheng, Ron Roberts

Digital Laboratory: Publisher of Internet Journal

In my first article, The Writing on the Wall, we laid out the case: self-improving AI has arrived, the economy is splitting, and every organization faces an existential choice. This paper answers the question we heard most after that piece: “Okay, I believe you. What do I do on Monday morning?” The answer is your Personal Agentic OS. It is the minimum viable infrastructure that turns you from a passive consumer of AI into a sovereign operator of it. And in April 2026, three events converged to make this the most urgent professional skill in the world: Andrej Karpathy’s LLM …

Monopsony In Academia And The Gender Pay Gap: Evidence From California, Zhanhan Yu, Alfonso Flores-Lagunes

Upjohn Institute Working Papers

We investigate monopsony power in a highly skilled labor market made up of tenure-ranked faculty in the University of California system, and analyze differential monopsony power exposure by gender. We infer the campus-level labor supply elasticity by estimating the elasticity of separations utilizing individual-level faculty data and two instruments based on campus revenues and salary scales. We find that the “exploitation rate,” a common measure of monopsony power, is about 7% for tenure-ranked faculty. There is a statistically significant difference in the monopsony power experienced by male and female faculty that appears to account for a relatively small percentage of …

Benchmarking Digitalized Innovation In Business Strategy Across Msmes, Shyam Sundar. S, Uma Raman. M, Shanmuga Priya. G, C. M. Sudha Arogya Mary

Markets, Globalization & Development Review

The contemporary globally interconnected economy is fundamentally changing international trade and opening up new prospects for businesses, particularly Micro, Small, and Medium-Sized Enterprises (MSMEs). The basic concept of global business is changing in the modern world due to the digital environment. To preserve their competitive advantage both domestically and internationally, businesses must look for new opportunities. Since the usage of digital technology is causing entrepreneurial processes to become more fluid and irregular over time and space, our research chose a conceptual approach to examine how the digitalization of MSMEs would benefit decision-makers in global organizations. Using a conceptual approach, as …

Accounting For Non-Monetary Exchange: A Systematic Review Of Barter Literature From Colonial Ledgers To Digital Economies, Christian Timotius Peilouw, Unti Ludigdo, Imam Subekti, Yeney Widya Prihatiningtias

Markets, Globalization & Development Review

Non-monetary exchange systems persist throughout human history, challenging assumptions about monetary dominance and revealing fundamental limitations in conventional accounting frameworks. This systematic literature review examines how accounting practices adapt to and shape non-monetary exchange across diverse historical and contemporary contexts, investigating patterns in accounting practices, challenges to conventional theory, and implications for economic resilience. Following PRISMA guidelines, the review analyzed 28 peer-reviewed articles from 1979 to 2025 identified through Scopus database searches combining barter-related and accounting terms. The analysis reveals four major themes: historical foundations showing sophisticated proto-banking systems in colonial America that operated without currency; crisis-driven alternatives demonstrating how …

Engaging Young People In Sustainable Finance: Opening Up Opportunities For Transformation, Allison Guerette

Markets, Globalization & Development Review

The field of sustainable finance could benefit from more meaningful engagement with young people, who offer a unique perspective and have a vested interest in addressing climate change and other global issues that will shape their future. In this post-qualitative study, three young people document what they see, hear, and experience as they attend a symposium for experts on sustainable finance and environmental, social, and governance (ESG) investing. These raw tellings are used in the cocreation of a youth sustainable finance assemblage and analysis tool, which the young people then apply to the Return on Sustainable Investment (ROSI™) methodology. Relationality, …

The Globe Spins Faster; We Keep Providing Clearer Interpretive Snapshots, Nikhilesh Dholakia, Zeynep Ozdamar Ertekin, Delphine Godefroit-Winkel

Markets, Globalization & Development Review

No abstract provided.

Are The Self-Employed Really Their Own Boss?: Evidence On The Degree Of Autonomy And Control The Self-Employed Have Over Their Work, Katharine G. Abraham, Susan N. Houseman, Beth C. Truesdale

Upjohn Institute Policy Papers

Self-employment is commonly equated with being one’s own boss. This implies that, compared to employees, the self-employed have greater freedom to make their own decisions on key aspects of their job, including how they do their work and when they work. In this paper, we use information from a large, nationally representative survey, collected as part of the American Job Quality Study, to examine the degree to which workers in various self-employment arrangements do, in fact, control their own work. We find that while the self-employed are more likely than employees to have a lot of input into how and …

School System Selection Processes And Workforce Diversity In School, Dan Goldhaber, Cyrus Grout, Constance A. Lindsay, Elton Mykerezi, Aaron Sojourner

Upjohn Institute Working Papers

To date, there is little evidence about the extent to which teacher and principal diversity is related to the advancement of applicants to teacher and principal jobs through the hiring pipeline. We investigate this issue using novel job application and hiring data from a wide range of school districts and charter organizations. We find that non-White teacher applicants are less likely to advance through the hiring pipeline, particularly Asian applicants. We do, however, see evidence of heterogeneity with charter schools more likely to hire underrepresented minority teacher applicants. We do not find similar differences for principal hiring, but smaller samples …

Essays In Macroeconomics, Sihyun Kim

Arts & Sciences Graduate Student Theses and Dissertations

The dissertation consists of two research projects in macroeconomics. The first chapter studies a topic in fiscal policy and sovereign debt. I became interested in this topic during my third year of the Ph.D. program while working as a research assistant for Professor Manuelli. He recommended several papers on debt sustainability in the U.S. and Japan. I initially struggled to reconcile the coexistence of low default risk and persistent fiscal deficits in these countries. This led me to think that, in addition to the realized fiscal path, the fiscal capacity---such as the tax base---can also play an important role in …

Essays On Empirical Research Of Education, Criminal And Decision, Hsuan-Hua Huang

Arts & Sciences Graduate Student Theses and Dissertations

This dissertation consists of three essays in applied microeconomics, examining how subjective beliefs, institutional designs, and policy incentives shape critical life-cycle decisions in education and public safety. The first chapter investigates how students form beliefs about their academic ability and how the misalignment between perceived and benchmark ability shapes high-stakes educational sorting. Using longitudinal data from Taiwan, I show that these ability gaps systematically predict school and track choices. By developing a model of utility maximization under perceived ability, the results highlight that subjective beliefs, rather than objective scores alone, are central to educational outcomes and potential mismatches in school …

Inequality And Well-Being, Sarah E. Boslaugh

Theses

Human well-being has been a topic of interest to philosophers at least since the time of Aristotle, and well-being has also been a core concern of social scientists since the birth of the discipline in the late 18^th century. Some theories of well-being include economic inequality as a factor, and multiple ways to measure this factor have been developed; as with well-being, there is no single best measure of economic inequality and the choice of which measure to use may be based on both theoretical and practical reasons. I argue that income inequality should always be included as a …

Competition As A Solution To High Prices And Low Capacity In U.S. Healthcare: A Synthetic Control Analysis Of Certificate Of Need Repeal As A Lever For Hospital Market Reform, Eve Velasquez, Wyatt Greco

School of Public Policy Capstones

The U.S. healthcare system faces dual challenges: rising hospital prices and declining capacity. Between 2000 and 2024, average hospital expenses per adjusted inpatient day increased from approximately $1,000 to over $3,000, while hospital beds per capita declined from 3.11 to 2.45. This capstone evaluates three policy alternatives to address affordability and accessibility: restrictions on most-favored nation clauses in insurance-provider contracts, elimination of federal tax exemptions on employer-sponsored health insurance, and repeal of certificate of need (CON) laws. Through a comprehensive literature review and a synthetic control analysis of Indiana's 2019 nursing home CON reinstatement, we assess the empirical effects on …

The Impact Of Trade Tariffs On U.S. Soybean Exports: A Time Series Analysis Using Sarima Modeling, Haolun Liu

SACAD: Scholarly Activities

This study shows how the 2025 trade tariffs affected U.S. soybean export volumes tariff. A Seasonal Autoregressive Integrated Moving Average (SARIMA) model was used to forecast exports under a no-tariff scenario by using monthly U.S. soybean export data (January 2000 to July 2025). Then Forecasted values were compared with actual 2025 export volumes. The Result shows a large and sudden export decline in 2025 that are much greater than normal seasonal patterns, suggesting a strong tariff-related disruption to U.S. soybean trade.

A Counterfactual Analysis Of The Impact Of Stock Market Absence On Economic Growth In Selected Sub-Saharan African Countries, Etsub Tekola Jemberu, Adriana Knápková, Bruce Dehning

Accounting Faculty Articles and Research

Despite the global expansion of financial markets as a strategy for financial reform over the past century, around one-sixth of the world’s countries lack a formal stock market. This paper provides novel evidence from nine sub-Saharan African countries on how the absence of stock markets impacts economic growth. Using the synthetic control method (SCM), we estimate the counterfactual GDP per capita these countries would have experienced had they established a stock market during 1993–1995. The findings reveal that the absence of a stock market resulted in substantial losses for most countries, including Burundi, the Democratic Republic of Congo, Comoros, Guinea, …

Inflation Rates Have A Tailwind, Francis R. Whitehouse Jr.

Atlantic Marketing Association Proceedings

No abstract provided.

Brokerage Competition In Demographically Differing Neighborhoods: A 25-City Study, Jason Beck

Atlantic Marketing Association Proceedings

No abstract provided.

Organizing To Engage: A Framework For Conflict Strategy, Paul Mason Carpenter

Dissertations

Conflict strategy can be exceedingly complex. While many of the basics are simple, even the simple can be highly complicated to execute. The Schlieffen Plan in World War I appeared straight forward, but execution was a great deal more complex. It failed and the result was years of trench warfare.  In addition, leaders entering conflict may not fully appreciate the full context, its effect, and the need for a long term result--a better state of peace.

Strategy and tactics may be challenging to transform as an engagement evolves. In addition, strategists must often commit to courses of action within very …

Workforce Dynamics In Michigan’S Upper Peninsula: Trends, Shocks, And Projections Through 2030, Iryna V. Lendel, Chloe Wieber, Sevrin Williams, Gerrit Anderson, Lee Adams

Upjohn Institute Technical Reports

This report examines the economic and workforce dynamics of Michigan’s Upper Peninsula (U.P.) through 2030, highlighting the region’s ongoing transition during population decline, workforce aging, and structural labor shortages. Despite these pressures, the U.P.’s labor force remains relatively stable due to increased participation among older workers, partially offsetting declines in prime-age cohorts. The region’s economy is highly specialized, with strong concentrations in extraction, construction, and production industries—sectors that offer high wages but are vulnerable to cyclical economic downturns.

Using a combination of demographic analysis, occupational data, and industry projections, the study identifies significant skill overlap across key industries, suggesting potential …