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Full-Text Articles in Public Economics

Lessons Learned: James B. Lockhart Iii, Ben Henken, Dan Thompson Aug 2019

Lessons Learned: James B. Lockhart Iii, Ben Henken, Dan Thompson

Journal of Financial Crises

Insights from discussions with James B. Lockhart III, who was the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency (FHFA) upon the agency’s creation on July 30, 2008. Topics include the conservatorships of Fannie Mae and Freddie Mac as well as other elements of the Bush Administration's 2008 crisis response activities.


An Integrated Climate Science-Economic Model For Evaluating Adaptations To Sea Level Rise: A Prototype Model For Monterey, California, Charles S. Colgan, Fernando Depaolis, Philip King Aug 2019

An Integrated Climate Science-Economic Model For Evaluating Adaptations To Sea Level Rise: A Prototype Model For Monterey, California, Charles S. Colgan, Fernando Depaolis, Philip King

Journal of Ocean and Coastal Economics

Preparing for flooding that will be exacerbated by climate change and sea level rise must take place in the context of "deep uncertainty". One strategy for dealing with that uncertainty is to convert unknown probabilities into know probabilities using techniques such as Monte Carlo analysis. This paper demonstrates the feasibility of creating a cost-benefit model for sea level rise adaptation options using an integrated climate change/sea level rise-weather-economic model. The model tests the probability of benefits exceeding costs for shoreline protection such as beach nourishment and armoring under multiple iterations of possible climate futures. It uses shoreline segments in ...


Ostromian Lessons For Post-Disaster Resilience: Evidence From The 2015 Earthquake In Nepal, Veeshan Rayamajhee Aug 2019

Ostromian Lessons For Post-Disaster Resilience: Evidence From The 2015 Earthquake In Nepal, Veeshan Rayamajhee

Economics ETDs

The dissertation is organized in six chapters. The first chapter provides a synopsis of the four research articles that are comprised in this manuscript. It outlines the goals of each article and connects them to specific Ostromian insights to shed light on the empirical findings. Chapters 2, 3, and 5 are based on a field study that I conducted in Sindhupalchowk, Nepal following the devastating earthquake in 2015. Chapter 4 uses case studies from Chicago, New Orleans, Nepal, and Indonesia. The final chapter summarizes major lessons from the four papers.

The second chapter investigates household-level coping responses to the 7 ...


A Change In Highest And Best Use Policy In South Dakota Shows A Sizable Impact To Agricultural Land Assessments, Matthew Elliott, Lisa Elliott, Tong Wang Jul 2019

A Change In Highest And Best Use Policy In South Dakota Shows A Sizable Impact To Agricultural Land Assessments, Matthew Elliott, Lisa Elliott, Tong Wang

Matthew Elliott

South Dakota is currently revisiting the Highest and Best Use (HBU) Policy for Determining Agricultural Land Assessments. We examine the impact on statewide assessments if the HBU policy was switched to an actual use policy or a most likely use policy.


The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter Jul 2019

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at the University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted ...


Aligning Ocean Plastic Pollution And Human Health A Co-Benefits Approach, Karyn Morrissey Dr Jul 2019

Aligning Ocean Plastic Pollution And Human Health A Co-Benefits Approach, Karyn Morrissey Dr

Journal of Ocean and Coastal Economics

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The environmental literature has begun to consider the impact of environmental problems on human health. This realization serves both as a means to provide scientific evidence to consider the environment and public health jointly. This approach also increases recognition of the environment where stakeholders have not understood the links between environmental and human health. The oceans and seas play an important role in human health, through the provision and quality of the air that we breathe, the food we eat, the water we drink, while offering economic and recreational opportunities which enhance public health. However, the links between human health ...


Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson Jul 2019

Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson

Economics Department Working Papers

The Olympic Games are a major undertaking that promise both large costs and potentially large benefits to host cities. This paper lays out the potential economic benefits of hosting the Olympics and details how, in the vast majority of cases, these gains are unlikely to cover the costs of hosting the event. The ideas are then applied to the experience of Boston in its ultimately unsuccessful bid for the 2024 Summer Olympics.


International Welfare Spillovers Of National Pension Schemes, James Staveley-O'Carroll, Olena Staveley-O'Carroll Jul 2019

International Welfare Spillovers Of National Pension Schemes, James Staveley-O'Carroll, Olena Staveley-O'Carroll

Economics Department Working Papers

We employ a two-country overlapping-generations model to explore the international dimension of household portfolio choices induced by the asymmetric provision of government-run pensions. We study the resulting patterns of risk-sharing and the corresponding welfare effects on both home and foreign agents. Introducing the defined benefits pay-as-you-go system at home increases the welfare of all other agents at the expense of the home workers and improves the degree of intergenerational risk sharing abroad. Conversely, a defined contributions system leads to welfare losses of both home cohorts accompanied by gains abroad, but does increase the extent of intergenerational risk sharing at home.


A Cross County Examination Of Fiscal Federalism In The 2016 Election, Sarah Kaplan Jun 2019

A Cross County Examination Of Fiscal Federalism In The 2016 Election, Sarah Kaplan

Honors Theses

The 2016 election has often been referred to as one of the most unorthodox elections in United States history. Both major candidates had their own unusual qualities about them. Hillary Clinton was the first woman to receive a major party’s nomination. Donald Trump ran with no political experience, using a rhetoric that was foreign to the established political world. And yet, Donald Trump did the unthinkable and was elected to the highest office in the nation. He triggered a voice that many felt was silenced in recent years. By laughing in the face of political correctness, and speaking about ...


Preferred Pharmacy Networks: Health Care Savings On The Margins, Ashley Swanson May 2019

Preferred Pharmacy Networks: Health Care Savings On The Margins, Ashley Swanson

Wharton Public Policy Initiative Issue Briefs

While policymakers have talked a lot recently about finding a comprehensive fix for escalating health care costs, such as Medicare-for-all, many economists have been exploring the possibility that the answer for excessive health care spending may rest instead in series of smaller adjustments. This issue brief presents research on one such small fix: preferred pharmacy networks. This is a relatively new tool whereby health insurers aim to steer consumers to lower cost “preferred” pharmacies, where insurers are able to negotiate lower drug prices. The research concludes that preferred pharmacy contracting results in a roughly 1 percent decrease in Medicare Part ...


Public Interests And Economic Regulation Of Gambling, Rein Halbersma, Joost Poort May 2019

Public Interests And Economic Regulation Of Gambling, Rein Halbersma, Joost Poort

International Conference on Gambling & Risk Taking

In the Netherlands, the Betting and Gaming Act from 1964 largely determines the current structure of gambling markets. The policy was to channel consumers to a limited number of licensed operators. This led to state-owned monopolies for lotteries, sports betting and casinos, a private monopoly for horse race betting, a limited number of privately owned charity lotteries, and a large number of private slot machines operators.

Pending legislation proposes an online market without a limit on the number of operators. Furthermore, state ownership will be phased out, and introduced legislation to privatizing and expanding the number of casinos. The current ...


A Correction For Regression Discontinuity Designs With Group-Specific Mismeasurement Of The Running Variable, Otávio Bartalotti, Quentin Brummet, Steven Dieterle May 2019

A Correction For Regression Discontinuity Designs With Group-Specific Mismeasurement Of The Running Variable, Otávio Bartalotti, Quentin Brummet, Steven Dieterle

Economics Working Papers

When the running variable in a regression discontinuity (RD) design is measured with error, identification of the local average treatment effect of interest will typically fail. While the form of this measurement error varies across applications, in many cases the measurement error structure is heterogeneous across different groups of observations. We develop a novel measurement error correction procedure capable of addressing heterogeneous mismeasurement structures by leveraging auxiliary information. We also provide adjusted asymptotic variance and standard errors that take into consideration the variability introduced by the estimation of nuisance parameters, and honest confidence intervals that account for potential misspecification. Simulations ...


Measuring The Black-White Dissimilarity Index In Williamsburg And James City County Public High Schools, Sylvia Greer May 2019

Measuring The Black-White Dissimilarity Index In Williamsburg And James City County Public High Schools, Sylvia Greer

Undergraduate Economic Review

In 2007, the Williamsburg-James City County (WJCC) School Board chose to open a third high school and redistrict the attendance of their public high schools.

I used a measure of racial unevenness to assess what this decision did to racial segregation in the school district. Using the black-white dissimilarity index, I found that the high schools have had increasing racial segregation from 2000 to 2015, with a significant increase due to the new school.

As the WJCC school board, students, and families move forward, they should be careful to measure and address the levels of segregation in the district.


Investigating The Effects Of Student Debt On Career Outcomes: An Empirical Approach, Gideon Moore May 2019

Investigating The Effects Of Student Debt On Career Outcomes: An Empirical Approach, Gideon Moore

Honors Projects

High student debt has been hypothesized to affect career choice, causing students to desire stable, high paying jobs. To test this hypothesis, I rely on plausibly exogenous variation in debt due to a federal policy shift. In the summer of 2007, the Higher Education Reconciliation Act (or HERA) expanded the cap for federally subsidized student loans. I examine how variation in debt affects career choice and eventual salary of students using data from the National Longitudinal Survey of Youth 1979 Child and Young Adult Cohort of students who were of college age during the implementation of the policy. I find ...


Spreadsheets-In-Space: A Quantitative Exploration Of Movement, Currency Creation, And Conflict Within Eve Online, Christopher Alan Pryor May 2019

Spreadsheets-In-Space: A Quantitative Exploration Of Movement, Currency Creation, And Conflict Within Eve Online, Christopher Alan Pryor

Theses and Dissertations

EVE Online is a massively-multiplayer online game with complex interactions between players and their unique, virtual environment. These relationships are the ongoing results of a conflict-driven economy, but they vary both in duration and by location.

This study attempts to quantify the direct effects of movement and indirect effects of conflict upon economic activity in the form of currency creation and delineate how successfully these relationships can be quantified by narrower time-spans and areas. Results of the mediation models used in this exploration indicate the changing relationship between movement (Ship Jumps), conflict (Ship Kills), and currency creation (Faction Kills) is ...


The Effects Of Demographic Changes On State Fiscal Balances In The U.S., Patrick Nartey May 2019

The Effects Of Demographic Changes On State Fiscal Balances In The U.S., Patrick Nartey

All Graduate Plan B and other Reports

The share of the population that is 65 or older keeps on rising over the years in the U.S. According to the 2017 US population projection, the rate of growth of older population is much faster than other age groups. The growing aging population will affect the economy in many ways, especially in fiscal balance of regional governments. The main goal of the study is to examine the fiscal implication of increasing old-age population in U.S states. The old-age dependency ratio is used to measure aging population, which derived by diving the population 65 years and over by ...


The Montana Energy Security Act, Kennedy Bahm Apr 2019

The Montana Energy Security Act, Kennedy Bahm

Carroll College Student Undergraduate Research Festival

Eliminating the use of coal-fired power nationwide has been a popular talking point in recent legislative debates in Washington, D.C. Despite obvious threats to the environment, investing in coal-fired energy offers considerable economic benefits to Americans. In Montana, this debate has been centered around the closure of the Colstrip Power Plant. The Montana Energy Security Act (HB 203), proposed by Representative Rodney Garcia, would permit the state of Montana to sell bonds to finance the $500m purchase of the Colstrip Power Plant. This case study offers a cost benefit analysis of the Montana Energy Security Act, comparing the societal ...


British Government Information Resources, Bert Chapman Apr 2019

British Government Information Resources, Bert Chapman

Libraries Faculty and Staff Creative Materials

Provides an overview of British Government information resources. Contents include basic British economic and political background and information from British Government websites including the Department of Environment, Food, and Rural Affairs (DEFRA), Brexit related material produced by British government agencies such as the Department for Exiting the European Union,, the Ministry of Defence, the National Museum of the Royal Navy, the Home Office Visas and Immigration Section, the Office of National Statistics, Her Majesty's Treasury, the British Parliament including parliamentary committees and research agencies, the website of Member of Parliament (MP) Jacob Rees-Mogg (Conservative-North East Somerset), a webcast of ...


Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman Apr 2019

Do Private Household Transfers To The Elderly Respond To Public Pension Benefits? Evidence From Rural China, Plamen Nikolov, Alan Adelman

Economics Faculty Scholarship

Aging populations in developing countries have spurred the introduction of public pension programs to preserve the standard of living for the elderly. The often-overlooked mechanism of intergenerational transfers, however, can dampen these intended policy effects, as adult children who make income contributions to their parents could adjust their behavior in response to changes in their parents’ income. Exploiting a unique policy intervention in China, we examine using a difference-in-difference-in-differences (DDD) approach how a new pension program impacts inter vivos transfers. We show that pension benefits lower the propensity of adult children to transfer income to elderly parents in the context ...


Building An Equitable And Inclusive City Through Housing Policies: Singapore's Experience, S Y Phang Apr 2019

Building An Equitable And Inclusive City Through Housing Policies: Singapore's Experience, S Y Phang

PHANG Sock Yong

No abstract provided.


The Evolution Of State Higher Education Public Funding Policy, Angela Rogers Apr 2019

The Evolution Of State Higher Education Public Funding Policy, Angela Rogers

Senior Theses

In the past several decades, public colleges and universities have increasingly struggled to fund all of the programs demanded of them as states slowly drain funding from their coffers. This discussion will examine different policies and frameworks that have been used by states to determine funding for their public institutions. Different factors that will be considered include political relationships, governance structures, and accountability models. The political trend of “free college” will also be considered. Then, the discussion will narrow to South Carolina funding policy, how it has changed over the years, and what the current challenges are. A policy proposal ...


The Tcja And The Questionable Incentive To Incorporate, Part 2, Michael S. Knoll Mar 2019

The Tcja And The Questionable Incentive To Incorporate, Part 2, Michael S. Knoll

Faculty Scholarship at Penn Law

The Tax Cuts and Jobs Act (TCJA) has put the question should a business be organized as a passthrough entity or as a corporation at center stage. The TCJA eliminated much of the tax disadvantage from using the corporate form, but did Congress go so far that it advantaged corporations relative to pass-through entities? Some prominent commentators say yes. They argue that the federal income tax now encourages individual owners of pass-through businesses to restructure their business as subchapter C corporations, and they predict that the TCJA will lead to a cascade of incorporations. The principal driver of the shift ...


Eastern Migrations Vs Western Welfare States - (Un)Biased Fears, Kosta Josifidis, John B. Hall, Valérie Berenger Mar 2019

Eastern Migrations Vs Western Welfare States - (Un)Biased Fears, Kosta Josifidis, John B. Hall, Valérie Berenger

John B. Hall

This inquiry considers some effects of migration on the labour markets and the welfare systems found in the EU-15, and from the perspectives of sustainability of the current welfare state regimes. Our inquiry aims to determine whether and to what extent different approaches in regulation of migration flows between the new and old member states are compatible with related economic and demographic findings. Within this context, our research considers regulations affecting migration flows. Our findings suggest that some effects of migration from the EU8+2 on the labour markets and social protection systems found in the EU-15, both with respect ...


The Tcja And The Questionable Incentive To Incorporate, Michael S. Knoll Mar 2019

The Tcja And The Questionable Incentive To Incorporate, Michael S. Knoll

Faculty Scholarship at Penn Law

The Tax Cuts and Jobs Act (TCJA) has put the question should a business be organized as a passthrough entity or as a corporation at center stage. The TCJA eliminated much of the tax disadvantage from using the corporate form, but did Congress go so far that it advantaged corporations relative to pass-through entities? Some prominent commentators say yes. They argue that the federal income tax now encourages individual owners of pass-through businesses to restructure their business as subchapter C corporations, and they predict that the TCJA will lead to a cascade of incorporations. The principal driver of the shift ...


Trends And Tariffs: Nebraska In An Aging Recovery, Eric Thompson Feb 2019

Trends And Tariffs: Nebraska In An Aging Recovery, Eric Thompson

Business in Nebraska

Nebraska will record solid economic growth during the forecast period but will lag U.S. growth. Nebraska’s large farming sector is struggling and will not contribute much to economic growth during the forecast period. Job growth also will be sluggish in transportation and retail trade. Job growth, however, will be stronger in the services, finance, manufacturing and construction. Projected growth rates for 2019 to 2021 are presented in Table 1.

Employment will grow by 0.7% to 0.9% per year, below the national rate. Nonfarm income will grow between 4.4% and 4.5% each year. This growth ...


Analyzing The Interplay Between Public Pension Finances And Government Finances: Lessons From Linking An Economic Model To A Pension Fund Model, Yimeng Yin, Donald Boyd Feb 2019

Analyzing The Interplay Between Public Pension Finances And Government Finances: Lessons From Linking An Economic Model To A Pension Fund Model, Yimeng Yin, Donald Boyd

Public Administration and Policy Faculty Scholarship

Public pension funds invest in stock, bonds, and other assets in an effort to keep the costs to governments of funding pensions low. Researchers have examined the investment-related risks to public pension funds, to the governments that contribute to them, and to stakeholders in pension funds and governments, using stochastic simulation models of pension fund finances.

These models generally use simple investment return assumptions, such as that returns are drawn from a normal distribution, are independent from year to year, and are not correlated with the governmental tax revenue needed to pay pension contributions. Because investment returns and tax revenue ...


Rethinking Retirement For The 21st Century, Stephen C. Russo Jan 2019

Rethinking Retirement For The 21st Century, Stephen C. Russo

Major Papers

Canada’s labour force has been gradually growing older in recent decades. An aging labour force creates significant problems for the country and the future growth of our economy. With an aging labour force, comes the need to start rethinking how Canadians look at retirement in the 21st century and how both the government and private sector can contribute solutions to adapting to an older workforce. This problem is not unique to Canada, most of the industrialized west has been or will begin to experience the same demographic shift as we are in Canada. The main challenge this paper ...


Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman Jan 2019

Short-Run Health Consequences Of Retirement And Pension Benefits: Evidence From China, Plamen Nikolov, Alan Adelman

Justice & Well-Being Studies Faculty Scholarship

This paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we used a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding ...


One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher Jan 2019

One Step At A Time: Does Gradualism Build Coordination?, Maoliang Ye, Jie Zheng, Plamen Nikolov, Sam Asher

Economics Faculty Scholarship

This study investigates a potential mechanism to promote coordination. With theoretical guidance using a belief-based learning model, we conduct a multi-period, binary-choice, and weakest-link laboratory coordination experiment to study the effect of gradualism – increasing the required levels (stakes) of contributions slowly over time rather than requiring a high level of contribution immediately – on group coordination performance. We randomly assign subjects to three treatments: starting and continuing at a high stake, starting at a low stake but jumping to a high stake after a few periods, and starting at a low stake while gradually increasing the stakes over time (the Gradualism ...


Alleviating Poverty In Sub-Saharan Africa, Owen Dubeck Jan 2019

Alleviating Poverty In Sub-Saharan Africa, Owen Dubeck

CMC Senior Theses

While most of the world has been able to dramatically reduce extreme poverty rates, Sub-Saharan Africa has failed to do so and is the only region in the world with more people living in extreme poverty than thirty years ago. This thesis will develop a policy framework for alleviating poverty by drawing from countries that are performing surprisingly well and poorly in the region. The thesis concludes with an analysis of whether education, health, or agricultural sectors should be receiving more or less funding based on expected rates of return and the feasibility of policy successes.