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Credit, Sectoral Misallocation And Productivity Growth: A Disaggregated Analysis, Carlos Urrutia, Felipe Meza, Sangeeta Pratap 2019 Centro de Investigación Económica, ITAM

Credit, Sectoral Misallocation And Productivity Growth: A Disaggregated Analysis, Carlos Urrutia, Felipe Meza, Sangeeta Pratap

Carlos Urrutia

We study the relation between credit conditions, misallocation of resources, and productivity growth in a multi-sector model with financial frictions. In our framework, working capital constraints and borrowing limits create wedges between the marginal product of inputs and their relative prices, which we can map into distortions to the capital to labor ratio and to the use of intermediate goods. The distribution of these distortions across sectors and their changes over time affect aggregate TFP. We construct a novel dataset for the Mexican manufacturing activity that merges real and financial data at the 4-digit sectoral level and use our model ...


Save More Later? The Effect Of The Option To Choose Delayed Savings Rate Increases On Retirement Wealth, John Beshears, Hengchen Dai, Katherine L. Milkman, Shlomo Benartzi 2019 Harvard University and NBER

Save More Later? The Effect Of The Option To Choose Delayed Savings Rate Increases On Retirement Wealth, John Beshears, Hengchen Dai, Katherine L. Milkman, Shlomo Benartzi

Wharton Pension Research Council Working Papers

Prior research in economics and psychology has documented that individuals exhibit time-inconsistent preferences when faced with the opportunity to take an action that involves immediate costs in return for future benefits – the notion of implementing such an action now is unappealing, but the notion of implementing the same action later is attractive. Because increasing contributions to a retirement savings plan requires a reduction in current consumption (an immediate cost) in order to increase consumption in old age (a future benefit), individuals may be more likely to agree to a contribution rate increase if they have the option to have the ...


A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma 2019 University of New Mexico

A Systematic Investigation Of The Effect Of Wildfire Events And Risks On Property Values, Qiuhua Ma

Economics ETDs

Wildfires frequency and severity have been increasing in the western United States over the past few decades. This rising threat is caused by the accumulated fuel load, climate change, and the rapid expansion of housing in the wildland-urban interface (WUI). Since most mitigation and suppression costs are borne by taxpayers, policy analysts seek both market (e.g., protection and suppression cost) and non-market cost estimates of wildfires. As one tool, the hedonic pricing method is commonly used to investigate wildfire effects on property values. There are a variety of hedonic studies investigating wildfire, with mixed and/or inconsistent results. Model ...


Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec 2019 Stanford University

Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec

Katrina Kosec

We investigate the classic question of how the provision of a local publicly-provided good--air quality--varies with the degree of decentralization of policymaking. Exploiting exogenous variation in the natural topography of the United States to instrument for the number of local government jurisdictions in a metropolitan area, we show that areas with more jurisdictions have significantly lower air quality, and significantly higher concentrations of the toxic air pollutants most closely associated with cancer and non-cancer health risks. Moreover, we estimate that this increase in pollution lowers housing values by at least 3%. By contrast, local drinking water quality--a publicly-provided good not ...


Why The Economics Profession Must Actively Participate In The Privacy Protection Debate, John M. Abowd, Ian M. Schmutte, William Sexton, Lars Vilhuber 2019 U.S. Census Bureau

Why The Economics Profession Must Actively Participate In The Privacy Protection Debate, John M. Abowd, Ian M. Schmutte, William Sexton, Lars Vilhuber

Labor Dynamics Institute

When Google or the U.S. Census Bureau publish detailed statistics on browsing habits or neighborhood characteristics, some privacy is lost for everybody while supplying public information. To date, economists have not focused on the privacy loss inherent in data publication. In their stead, these issues have been advanced almost exclusively by computer scientists who are primarily interested in technical problems associated with protecting privacy. Economists should join the discussion, first, to determine where to balance privacy protection against data quality; a social choice problem. Furthermore, economists must ensure new privacy models preserve the validity of public data for economic ...


The Effect Of "Drought Tolerant" Plant Labeling On Consumers' Preferences And Willingness To Pay For Ornamental Plants, Susanne Tábara Cenador 2019 Utah State University

The Effect Of "Drought Tolerant" Plant Labeling On Consumers' Preferences And Willingness To Pay For Ornamental Plants, Susanne Tábara Cenador

All Graduate Theses and Dissertations

Utah’s water resources are endangered by low rainfall rates, high per capita water consumption and a strong projected increase of residents. The irrigation of ornamental plant landscaping is estimated to account for 60% of residential water use, and is, therefore, a target of education programs in the effort to promote water conservancy. The water-wise “Yellow Tag” program developed by the Utah Division of Water Resources seeks to provide retail nurseries with free tags for labeling plants which are considered low water use with the objective of promoting water conservation. The objective of this study is to determine consumer preferences ...


The Sue-And-Settle Phenomenon: Its Impact On The Law, Agency, And Society, Katie L. Colton 2019 Utah State University

The Sue-And-Settle Phenomenon: Its Impact On The Law, Agency, And Society, Katie L. Colton

All Graduate Theses and Dissertations

Sue-and-settle is the name applied to a federal agency’s use of litigation to create policy outside of the normal regulatory process. This paper discusses the impact that the sue-and-settle policy has had on Congress, the judiciary, and the Environmental Protection Agency. Specifically, this paper will discuss the issues caused by the perception of collusion within the sue-and-settle policy. First, this paper examines whether a relationship occurs between the litigants. The paper then discusses whether the relationship between the litigants in sue-and-settle cases tends to be collusive or not. The second part of the paper examines how Congress, the Environmental ...


The Value Of Farmland: Mapping Assessor Data To Understand Land Use Change, Lyndi Perry 2019 Utah State University

The Value Of Farmland: Mapping Assessor Data To Understand Land Use Change, Lyndi Perry

All Graduate Theses and Dissertations

Ideas developed by regional economists have potential applications within the urban planning field. One potential application is toward conserving farmland, and within this thesis this topic is examined for the study area of Utah County, Utah. Using assessor data, a land value map is created and further used to develop a regional economic model and spatial models that were analyzed for patterns of land use change.

Findings show that representing land value as continuous surface maps is a useful approach. The maps reveal that Utah County has densified as its population increased while farmland loss still occurred in agriculturally-important areas ...


Untangling The Economic And Social Impediments To Producer Adoption Of Organic Wheat, Donya L. Ralph-Quarnstrom 2019 Utah State University

Untangling The Economic And Social Impediments To Producer Adoption Of Organic Wheat, Donya L. Ralph-Quarnstrom

All Graduate Theses and Dissertations

Consumer demand for organic products has shown double-digit growth in recent years encouraging the development of a wider range of goods (Greene, 2017). Americans with an annual household income under $30,000 actively purchase organic foods at nearly the same rate as households with over $75,000 in annual incomes, 42% versus 49% (Greene et al., 2017). Previous research observed the adoption of organic farming practices on a combination of different grains, fruits and vegetables, meat, and dairy products from across the globe. However, this is the first study to examine the adoption of organic wheat in the Western U ...


The Impact Of Immigration On Financial Markets, Jesse Baker 2019 Utah State University

The Impact Of Immigration On Financial Markets, Jesse Baker

All Graduate Plan B and other Reports

This paper studies the impact of immigration policy on financial markets. I estimate the cumulative abnormal returns surrounding two events the effective start date of the Immigration Act of 1990 and the implementation of the Temporary Protected Status (TPS) of Nicaragua and Honduras in 1999. Focusing on agriculture, construction, and manufacturing firms, I find that the CARs surrounding the events are indeed positive and significant, suggesting that the market anticipated growth among industries that are likely to hire Central American immigrants.


A Way To Resolve Intergenerational Conflict Over The Environment Under The Pareto Criterion Using Green Bonds, Torben M. Andersen, Joydeep Bhattacharya, Pan Liu 2019 University of Aarhus

A Way To Resolve Intergenerational Conflict Over The Environment Under The Pareto Criterion Using Green Bonds, Torben M. Andersen, Joydeep Bhattacharya, Pan Liu

Joydeep Bhattacharya

Any policy designed to combat climate change will likely create intergenerational winners and losers because the associated costs appear up-front while the benefits come downstream. In such cases, cost benefit analysis seeks potential Pareto-improvements in the Kaldor–Hicks sense, the hypothetical potential for the winners to compensate the losers. Of course, once the policy is indeed implemented and has unleashed distortions and general-equilibrium effects, such potential improvements may not lead to actual improvements. We ask, which policies, once implemented, would pass the Pareto test that no generation subsequent to policy action be made worse off than before. We study a ...


Nebraska Strong - Social Capital In Action, Marilyn Schlake 2019 University of Nebraska-Lincoln

Nebraska Strong - Social Capital In Action, Marilyn Schlake

Cornhusker Economics

We have heard it and we have witnessed it in action. Nebraska Strong has been a unifying message that is bringing Nebraskans, friends and family together from across the nation. Signifying strength, determination, and a resolve to rebuild, Nebraska Strong has bolstered communities and individuals who have, in some cases, lost all semblance of what they had prior to the disastrous March blizzard and floods. Through this simple message, individuals have begun to utilize their social group networks or social capital to support recovery efforts.

Through the study of communities that have experienced major disasters, researchers found the existence of ...


Effects Of Agricultural Development On Biodiversity: Lessons From Iowa, Gordon L. Bultena, Michael D. Duffy, Steven E. Jungst, Ramesh S. Kanwar, Bruce W. Menzel, Manjit K. Misra, Piyush Singh, Janette R. Thompson, Arnold van der Valk, Richard L. Willham 2019 Iowa State University

Effects Of Agricultural Development On Biodiversity: Lessons From Iowa, Gordon L. Bultena, Michael D. Duffy, Steven E. Jungst, Ramesh S. Kanwar, Bruce W. Menzel, Manjit K. Misra, Piyush Singh, Janette R. Thompson, Arnold Van Der Valk, Richard L. Willham

Janette R. Thompson

Numerous ecological studies have shown that human population growth is forcing many plant and animal species into extinction. Communities of all living organisms, such as those found in prairies, marshes, woodlands, and lakes, interact in many ways with their surrounding environments. A recent report of the 1995 UN Conference on Biodiversity in Indonesia found that human population growth and economic development are depleting the planet's biological resources. Although environmental awareness is growing, damage to global diversity continues. More than 30,000 plant and animal species face possible extinction worldwide and some forty to a hundred species become extinct every ...


Debt Begets Debt: Examining Negative Credit Card Behaviors And Other Forms Of Consumer Debt, Lukas R. Dean, So-hyun Joo, Clinton G. Gudmunson, Judith L. Fischer, Nathan Lambert 2019 William Paterson University of New Jersey

Debt Begets Debt: Examining Negative Credit Card Behaviors And Other Forms Of Consumer Debt, Lukas R. Dean, So-Hyun Joo, Clinton G. Gudmunson, Judith L. Fischer, Nathan Lambert

Clinton G. Gudmunson

The effect of negative credit card behaviors is examined for association with other forms of consumer debt (automobile debt, installment debt, and personal loan debt). Data were collected using a combination of random digit dialing and convenience sampling from two cities. Respondents' median age is 48 years old, ranging from 20-87. Results indicate that despite controlling for income, not paying off the monthly balance and reaching the maximum limit on credit cards are associated with a variety of other debts. Although consumers can increase lifetime utility by borrowing, less educated consumers are more vulnerable to less favorable sources of credit ...


Financial Adjustment And Couple Resilience In The Great Recession, Sara K. Ray, Clinton G. Gudmunson, Bryce L. Jorgensen, Jeremy B. Yorgason 2019 Iowa State University

Financial Adjustment And Couple Resilience In The Great Recession, Sara K. Ray, Clinton G. Gudmunson, Bryce L. Jorgensen, Jeremy B. Yorgason

Clinton G. Gudmunson

This study examines economic and family implications of financial stressors and changes that couples experienced in the aftermath of the Great Recession as guided by Patterson’s (2002) Family Adjustment and Adaptation Response (FAAR) model. The sample consisted of a primarily middle-income group of 277 married and cohabiting couples; the couples were surveyed between 2008 and 2011 as part of the Flourishing Families Project. Findings from our path analysis showed that financial adjustments (e.g. cutting back on social activities and entertainment) in response to recession-era negative economic events were the source of economic pressure and couple relationship problems regarding ...


Family Postponement Of Medical And Dental Care: The Influence Of Income Level And Financial Hardship, Sara K. Ray, Clinton G. Gudmunson 2019 Iowa State University

Family Postponement Of Medical And Dental Care: The Influence Of Income Level And Financial Hardship, Sara K. Ray, Clinton G. Gudmunson

Clinton G. Gudmunson

Medical and dental care are some of the most expensive expenditures that consumers incur, and they are also some of the most common expenses that families postpone (Gallup, 2015; Kaiser, 2012). The goal of the present is to examine family and financial factors that influence families’ likelihood of delaying healthcare in a predominantly middle and upper income sample. A large body of research framed by the Family Stress Model has used the postponement of healthcare as one of many indicators of family economic pressure that together predict deleterious relationship and developmental outcomes (Gauthier & Furstenberg, 2010). However, only a handful of ...


Metajelo: A Metadata Package For Journals To Support External Linked Objects, Carl Lagoze, Lars Vilhuber 2019 University of Michigan

Metajelo: A Metadata Package For Journals To Support External Linked Objects, Carl Lagoze, Lars Vilhuber

Labor Dynamics Institute

We propose a metadata package that is intended to provide academic journals with a lightweight means of registering, at the time of publication, the existence and disposition of supplementary materials. Information about the supplementary materials is, in most cases, critical for the reproducibility and replicability of scholarly results. In many instances, these materials are curated by a third party, which may or may not follow developing standards for the identification and description of those materials. As such, the vocabulary described here complements existing initiatives that specify vocabularies to describe the supplementary materials or the repositories and archives in which they ...


Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith 2019 Yale University

Law And Behavioral Biology, Owen D. Jones, Timothy H. Goldsmith

Owen Jones

Society uses law to encourage people to behave differently than they would behave in the absence of law. This fundamental purpose makes law highly dependent on sound understandings of the multiple causes of human behavior. The better those understandings, the better law can achieve social goals with legal tools. In this Article, Professors Jones and Goldsmith argue that many long held understandings about where behavior comes from are rapidly obsolescing as a consequence of developments in the various fields constituting behavioral biology. By helping to refine law's understandings of behavior's causes, they argue, behavioral biology can help to ...


The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, Daniel Friedberg 2019 University of Lynchburg

The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, Daniel Friedberg

Student Scholar Showcase

The role of income inequality in relation to gross domestic product is of great importance in modern time. Income inequality is a pressing phenomenon in the fields of economics, politics, and sociology, while Gross Domestic Product is the benchmark statistic in measuring the health of any economy. But how well does income inequality serve as a predictor for the level of Purchasing Power Parity (PPP) GDP per capita within a nation? This cross-sectional study determines that the GINI Index has no significant statistical relationship with PPP GDP per capita level. While income inequality is a major economic variable that contributes ...


Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley 2019 University of Lynchburg

Socioeconomic Influences On Property Crime Rates: A Study In Virginia's Counties, Mary Passley

Student Scholar Showcase

Most research on factors and causes of crime, whether property or violent crime, focuses on individuals’ behavior or their surrounding environment. In this research, I explore the idea of socioeconomic factors correlated to property crime. I conducted a retrospective design to fully explore United States Census data and crime data gathered by the Bureau of Justice Statistics to discover statistically significant variables connected to property crime. Significant findings were shown by average people per house and retail sales per capita in all counties. Additional significant findings were percent employment change and percent with high school degree or higher in low ...


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