Nonparametric Tests Of Tail Behavior In Stochastic Frontier Models,
2020
Syracuse University
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 …
Growth Empirics: A Bayesian Semiparametric Model With Random Coefficients For A Panel Of Oecd Countries,
2020
Université Paris II
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 …
Increasing Odds: The Impact Of Casino Gaming Size, Location, And Economic Stream Style Differences On County Revenue In Pennsylvania,
2020
Western Michigan University
Increasing Odds: The Impact Of Casino Gaming Size, Location, And Economic Stream Style Differences On County Revenue In Pennsylvania, Brandon W. Koch
Dissertations
As county administrators seek new revenue streams, casino gaming becomes a valuable local revenue production mechanism. Recently, Pennsylvania has been vastly successful with developing a conunercial casino market. The American Gaming Association in 2017 found that Pennsylvania has the largest sole commercial casino industry and highest effective tax rate in the United States. The case study of the Pennsylvania gaming industry is utilized to investigate plannable casino born factor impacts on county revenue. State and local regulations dictate the method and location (plannable factors) of permitted casino gaming via quotas and licensure. Casino born factors created as a result of …
Labor Market Policies In A Roy-Rosen Bargaining Economy,
2020
Syracuse University
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.
Density Deconvolution With Laplace Errors And Unknown Variance,
2020
Syracuse University
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 …
Fomc Playbook: The Only New Game In Town?,
2020
Singapore Management University
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.
Building For Culture: How Municipal Ownership Of Cultural Facilities Influences Annual Arts Funding In American Cities,
2020
CUNY Graduate Center
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 …
Metro Monitor 2020: Las Vegas & Reno,
2020
University of Nevada, Las Vegas
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 …
Are Coco Bonds Suitable As Core Capital Instruments?,
2020
Durham University Business School
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, …
International Migration, Development, And Policy: Reconsidering Migration Transition Theory—A Way Forward,
2020
University of California, Riverside
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 …
Covid-19: The Impact On Small Businesses In Nevada,
2020
University of Nevada, Las Vegas
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.
Agglomeration Economies: How “Y’Allywood” Became The New Hollywood,
2020
University of Mississippi
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, …
The Effectiveness Of Implementing A Collaborative Mental Health Approach On Quality Of Life For Individuals Of Low Socioeconomic Status,
2020
Missouri State University
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 …
Delay And Geographic Discounting Exert Multiple Control Over Climate Change Policy Preference,
2020
Missouri State University
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 …
Milk And The Motherland? Colonial Legacies Of Taste And The Law In The Anglophone Caribbean,
2020
University of Birmingham
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 …
Addressing Urban Income Inequality Through Education: A Case Study In Atlanta,
2020
University of Arkansas, Fayetteville
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 …
Does Proximity To Fast Food Cause Childhood Obesity? Evidence From Public Housing,
2020
Syracuse University
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 …
The Effect Of Signing Ballot Petitions On Turnout,
2020
University of Arkansas, Fayetteville
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 …
Clusters In The Wilderness: A Theory Of The Economic And Policy Implications Of Location-Based Passions,
2020
Boise State University
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 Big With Economic Push To Fight Covid-19,
2020
Singapore Management University
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.
