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The Impact Of The 2018 Trade Disruptions On The Iowa Economy, Edward J. Balistreri, Chad E. Hart, Dermot J. Hayes, Minghao Li, Lee Schulz, David A. Swenson, Wendong Zhang, John M. Crespi 2019 Iowa State University

The Impact Of The 2018 Trade Disruptions On The Iowa Economy, Edward J. Balistreri, Chad E. Hart, Dermot J. Hayes, Minghao Li, Lee Schulz, David A. Swenson, Wendong Zhang, John M. Crespi

Wendong Zhang

In this analysis, we use historical trade patterns, revenue linkages, and recent futures market price changes to discern the 2018 tariffs’ near-term impacts on the state of Iowa. We use two distinct modeling techniques, and in each technique we make two distinct assumptions. First, we use partial-equilibrium modeling approaches that do not directly consider linkages among the markets and industries across the state of Iowa. In these approaches, two assumptions about price changes are invoked—either the price changes are based upon supply and demand elasticities or the price changes are based upon observations in the futures market. The partial ...


How Do Interest Rates Affect Market Capitalization Growth Rates In The Us?, Philip Carolin 2019 Mount Allison University

How Do Interest Rates Affect Market Capitalization Growth Rates In The Us?, Philip Carolin

Undergraduate Economic Review

This paper investigates how interest rates affect the market capitalization growth rate of individual companies in the US. The research will distinguish itself from previous literature as it analyzes company and macroeconomic data after the 2008 recession. This is particularly interesting as interest rates have been historically low in this time period. Previous research suggests that since the Great Recession the effects of interest rate changes have decreased. On the contrary I will argue that the effects of interest rates still appear to be significant and substantial when explaining the market capitalization growth rate.


Summary: Universal Basic Income, Ioana Marinescu 2019 University of Pennsylvania

Summary: Universal Basic Income, Ioana Marinescu

Wharton PPI B-School for Public Policy Seminar Summaries

Concern over massive structural unemployment, due to technological automation and globalization, is on the rise. Universal Basic Income (UBI) has attracted attention from both sides of the aisle as one potential solution to a scenario where a large number of people are not able to earn a livable wage. In order to understand the economic implications of UBI, economists have studied previous and current examples of UBI-type programs, analyzing their impact on consumption, labor force participation, education, health, and other key metrics.


Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom 2019 Iowa State University

Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom

Otávio Bartalotti

This article presents identification results for the marginal treatment effect (MTE) when there is sample selection. We show that the MTE is partially identified for individuals who are always observed regardless of treatment, and we derive sharp bounds on this parameter under four sets of assumptions. The first identification result combines the standard MTE assumptions without any restrictions to the sample selection mechanism. The second result imposes monotonicity of the sample selection variable with respect to the treatment, considerably shrinking the identified set. Third, we incorporate a stochastic dominance assumption which tightens the lower bound for the MTE. Finally, we ...


Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom 2019 Iowa State University

Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom

Desire Kedagni

This article presents identification results for the marginal treatment effect (MTE) when there is sample selection. We show that the MTE is partially identified for individuals who are always observed regardless of treatment, and we derive sharp bounds on this parameter under four sets of assumptions. The first identification result combines the standard MTE assumptions without any restrictions to the sample selection mechanism. The second result imposes monotonicity of the sample selection variable with respect to the treatment, considerably shrinking the identified set. Third, we incorporate a stochastic dominance assumption which tightens the lower bound for the MTE. Finally, we ...


Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom 2019 Iowa State University

Identifying Marginal Treatment Effects In The Presence Of Sample Selection, Otávio Bartalotti, Desire Kedagni, Vitor Possebom

Economics Working Papers

This article presents identification results for the marginal treatment effect (MTE) when there is sample selection. We show that the MTE is partially identified for individuals who are always observed regardless of treatment, and we derive sharp bounds on this parameter under four sets of assumptions. The first identification result combines the standard MTE assumptions without any restrictions to the sample selection mechanism. The second result imposes monotonicity of the sample selection variable with respect to the treatment, considerably shrinking the identified set. Third, we incorporate a stochastic dominance assumption which tightens the lower bound for the MTE. Finally, we ...


Assessing Post-Ada Employment: Some Econometric Evidence And Policy Considerations, Christopher L. Griffin Jr., John J. Donohue III, Michael Ashley Stein, Sascha Becker 2019 Duke Law School

Assessing Post-Ada Employment: Some Econometric Evidence And Policy Considerations, Christopher L. Griffin Jr., John J. Donohue Iii, Michael Ashley Stein, Sascha Becker

Christopher L. Griffin Jr.

This article explores the relationship between the Americans with Disabilities Act (“ADA”) and the relative labor market outcomes for people with disabilities. Using individual-level longitudinal data from 1981 to 1996 derived from the previously unexploited Panel Study of Income Dynamics (“PSID”), we examine the possible effect of the ADA on (1) annual weeks worked; (2) annual earnings; and (3) hourly wages for a sample of 7120 unique male household heads between the ages of 21 and 65 as well as a subset of 1437 individuals appearing every year from 1981 to 1996. Our analysis of the larger sample suggests the ...


Give Me A Challenge Or Give Me A Raise, Aleksandr Alekseev 2019 Chapman University

Give Me A Challenge Or Give Me A Raise, Aleksandr Alekseev

ESI Working Papers

I study the effect of task difficulty on workers' effort and compare it to the effect of monetary rewards in an incentivized lab experiment. I find that task difficulty has an inverse-U effect on effort, and that this effect is quantitatively large when compared to the effect of conditional monetary rewards. Difficulty acts as a mediator of monetary rewards: conditional rewards are most effective at the intermediate or high levels of difficulty. I show that the inverse-U pattern of effort response to difficulty is not consistent with the Expected Utility model but is consistent with the Rank-Dependent Utility model that ...


The Effect Of Inflation Targeting Policies On Dollarization-A Cross-Country Analysis, Dweepobotee Brahma 2019 Western Michigan University

The Effect Of Inflation Targeting Policies On Dollarization-A Cross-Country Analysis, Dweepobotee Brahma

The Hilltop Review

This paper attempts to review the experiences of various dollarized economies from the adoption of an explicit inflation-targeting framework for domestic monetary policy. Dollarization is the phenomenon where agents in a country choose to use a foreign currency instead of their domestic currency. This often occurs in response to episodes of high inflation rate in the domestic economy. Central Banks of these countries often respond by adopting an inflation-targeting regime. This paper attempts to evaluate the effectiveness of such a policy by conducting a cross-country comparison. A panel dataset from 14 dollarized economies from 2001-2015, is used to compare between ...


Improving Future Policy Responses To Foreseeable Bank Risk-Taking, Joao F. Gomes, Marco Grotteria, Jessica A. Wachter 2019 University of Pennsylvania

Improving Future Policy Responses To Foreseeable Bank Risk-Taking, Joao F. Gomes, Marco Grotteria, Jessica A. Wachter

Wharton Public Policy Initiative Issue Briefs

This brief offers new perspectives on the behavior of banks during the financial crisis of 2007-08 and the limited success of unconventional monetary policies in stimulating bank credit to the private sector during the subsequent economic recovery. The common narrative about the financial crisis is that it was caused by a large credit expansion with overly risky loan-granting behavior by banks. We argue, however, that banks actually made optimal financial decisions in the lead-up to the crisis, based on their calculation of their franchise value. The brief explains the mechanics of franchise value—how it led banks to shift their ...


Deciding To Delegate: On Distributional Consequences Of Endogenous Delegation, Lara Ezquerra, Praveen Kujal 2019 Universitat de les Illes Balears

Deciding To Delegate: On Distributional Consequences Of Endogenous Delegation, Lara Ezquerra, Praveen Kujal

ESI Working Papers

We allow for principals to self-select into delegating (or not) the allocation decision to an agent in a modified dictator game. The standard dictator game is obtained when they choose not to delegate. Nearly half the subjects choose to be a dictator and make the allocation themselves. Dictators thus obtained transfer lower amounts to receivers, relative to when the decision making is passed to an agent (or the standard dictator game). Subjects self-selecting into the role of a dictator give less relative to those that pass the allocation decision to an agent. Finally, the distributional consequences of delegating, or not ...


An Interview Question That Brought About Some Thoughts, Zhengxiao WU 2019 Singapore Management University

An Interview Question That Brought About Some Thoughts, Zhengxiao Wu

Research Collection School Of Economics

We tacklethe question posed by journalist Mehdi Hassan – on how many Chinese livescould be lost or would have to be lost to justify a single percentage ofeconomic growth. We considered a utility maximization problem where the utility function is defined to be the sum of the life expectancy at birth for all Chinese nationals.


Estimation And Inference Of Fractional Continuous-Time Model With Discrete-Sampled Data, Xiaohu WANG, Weilin XIAO, Jun YU 2019 Singapore Management University

Estimation And Inference Of Fractional Continuous-Time Model With Discrete-Sampled Data, Xiaohu Wang, Weilin Xiao, Jun Yu

Research Collection School Of Economics

This paper proposes a two-stage method for estimating parameters in a para-metric fractional continuous-time model based on discrete-sampled observations. In the first stage, the Hurst parameter is estimated based on the ratio of two second-order differences of observations from different time scales. In the second stage, the other parameters are estimated by the method of moments. All estimators have closed-form expressions and are easy to obtain. A large sample theory of the pro-posed estimators is derived under either the in-fill asymptotic scheme or the double asymptotic scheme. Extensive simulations show that the proposed theory performs well in finite samples. Two ...


Singapore As A Sustainable City: Past, Present And The Future, Tomoki FUJII, Rohan RAY 2019 Singapore Management University

Singapore As A Sustainable City: Past, Present And The Future, Tomoki Fujii, Rohan Ray

Research Collection School Of Economics

This paper outlines Singapore’s major sustainability challenges and its policy response in the areas of land use, transportation, waste management, water, and energy. We review the current and past Concept Plans from the perspective of sustainable land use and provide an overview of transportation policy in Singapore. We also examine Singapore’s policies to manage increasing wastes and review the four tap water management plan. Finally, we look at various initiatives by the government for sustainable use of energy. While Singapore has been successful in many ways in transforming itself into one of the most prosperous and sustainable cities ...


An Experimental Investigation Of Income, Insurance, And Investments In Health Over The Life Course, J. Dustin Tracy, Hillard Kaplan, Kevin A. James, Stephen Rassenti 2019 Chapman University

An Experimental Investigation Of Income, Insurance, And Investments In Health Over The Life Course, J. Dustin Tracy, Hillard Kaplan, Kevin A. James, Stephen Rassenti

ESI Working Papers

We examine the impacts of age, income and insurance plan on behavior in a virtual environment with cash-motivated subjects, who live multi-period lives in which they earn income and spend on enjoyment, insurance, and investments in health. Health shocks increase simulating aging. The 2x2 experimental has high and low income subjects, and offers employer-based or actuarial insurance. We find: 1) subject behavior approximated optimal responses; 2) in all treatments, subjects under-invested in health early in life and over-invested in health late in life; 3) subjects in the employer-based plan purchased insurance at higher rates; 4) the employer-based plan reduced differences ...


Lying And Shirking Under Oath, Nicolas Jacquemet, Alexander James, Stéphane Luchini, James J. Murphy, Jason F. Shogren 2019 Université de Lorraine

Lying And Shirking Under Oath, Nicolas Jacquemet, Alexander James, Stéphane Luchini, James J. Murphy, Jason F. Shogren

ESI Working Papers

This study explores whether an oath to honesty can reduce both shirking and lying among crowd-sourced internet workers. Using a classic coin-flip experiment, we first show that a substantial majority of Mechanical Turk workers both shirk and lie when reporting the number of heads flipped. We then demonstrate lying can be reduced by first asking each worker to swear voluntarily on his or her honor to tell the truth in subsequent economic decisions. The oath, however, did not reduce shirking as measured by time- at-coin-flip-task, although it did increase the time they spent answering a demographic survey. Conditional on response ...


The Effect Of Public-Place Smoking Bans On Risky Health Behavior Among Different Races And Ethnicities In The United States, Muntasir Rahman 2019 university of maine

The Effect Of Public-Place Smoking Bans On Risky Health Behavior Among Different Races And Ethnicities In The United States, Muntasir Rahman

Electronic Theses and Dissertations

There is an established body of literature on the effect of public-place smoking bans on smoking behavior. However, these studies focus on the effect of the public-place bans on the overall population and ignore racial/ethnic heterogeneity, therein. Given that there is ample evidence of racial/ethnic differences in risky health behaviors (such as smoking and drinking) in the United States, research that sheds light on this differential impact is necessary. Thus, the two studies presented in this thesis work estimates the heterogeneous racial/ethnic effects of public-place smoking bans on smoking and drinking-related behavior of U.S. adults.

In ...


Property Rights And The Efficient Extraction Of Common Pool Resources: Evidence From West Coast Groundfish, Keith S. Evans, Carl Lian, Quinn Weninger 2019 University of Maine

Property Rights And The Efficient Extraction Of Common Pool Resources: Evidence From West Coast Groundfish, Keith S. Evans, Carl Lian, Quinn Weninger

Economics Working Papers

Evaluating efficiency gains from adopting property rights-based fisheries management is data intensive, complicated by delays in adjusting to economic incentives implicit in output control regulations, and potentially confounded by the effects of changing stock abundance and other fundamentals. This paper evaluates harvesting efficiency for the universe of vessel participants in the West Coast groundfish trawl fishery two years prior to and six years following introduction of individual fishing quota (IFQ) regulations. Our methods control for delayed fleet restructuring and confounding effects of changing groundfish stock abundance. We find that under IFQs, redundant vessel capital exited the groundfish fishery at a ...


Grower Risk And Community Perception: Impediments To Growing Maine's Aquaculture Industry, Avery W. Cole 2019 University of Maine

Grower Risk And Community Perception: Impediments To Growing Maine's Aquaculture Industry, Avery W. Cole

Electronic Theses and Dissertations

Maine has a long and proud history of working waterfronts and commercial fishing. However, in recent decades, aquaculture, or the harvesting or growing of aquatic life, has emerged as another player in the coastal economy. Globally, aquaculture is experiencing the fastest growth of any food sector in the world as it subsidizes floundering wild-capture fisheries (FAO, 2014). Maine and the rest of the United States have not yet participated in this growth, which has led stakeholders and policymakers like the National Oceanic and Atmospheric Administration (NOAA) to advocate for massive improvements to the sector by 2020 (NOAA, 2016). To ensure ...


Adding Tournament To Tournament: Combining Between-Team And Within-Team Incentives, Michael Majerczyk, Roman Sheremeta, Yu Tian 2019 Georgia State University

Adding Tournament To Tournament: Combining Between-Team And Within-Team Incentives, Michael Majerczyk, Roman Sheremeta, Yu Tian

ESI Working Papers

We examine theoretically and experimentally how combining between-team and within-team incentives affects behavior in team tournaments. Theory predicts that free-riding will occur when there are only between-team incentives, and offering within-team incentives may solve this problem. However, if individuals collude, then within-team incentives may not be as effective at reducing free-riding. Consistent with the theoretical predictions, the results of our experiment indicate that although between-team incentives are effective at increasing individual effort, there is substantial free-riding and declining effort over time. Importantly, a combination of between-team and within-team incentives is effective not only at generating effort but also at sustaining ...


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