Endogeneity in the Decision to Migrate: Changes in the Self-Selection of Puerto Rican Migrants before, during, and after the Great Recession
By Aasha Reddy Migrants self-select on characteristics such as income. We use the U.S. Census’ ACS and PRCS to study changes in selection patterns of Puerto Rican migrants to the to the U.S. mainland (50 states) before, during, and after the Great Recession (2005 to 2016). We construct counterfactual income densities to compare incomes of […]
Effect of Sentiment on Bitcoin Price Formation
By Brian Perry-Carrera With the recent growth in the investment of cryptocurrencies, such as bitcoin, it has become increasingly relevant to understand what drives price formation. Given that investment in bitcoin is greatly determined by speculation, this paper seeks to find the econometric relationship between public sentiment and the price of bitcoin. After scraping over […]
The Effects of Parental Division of Employment on Child Outcomes During Adulthood
By Meredith Parenti This paper offers an empirical analysis of the effects of division of employment between parent figures on future outcomes of children. Using propensity score matching, this study extends upon previous research to offer an understanding of the joint role played by maternal employment and that of a present or non-present husband. Data […]
Benefit Spillovers and Higher Education Financing: An Empirical Analysis of Brain Drain and State-Level Investment in Public Universities
By Chinmany G. Pandit This paper analyzes the impact of out-migration of college graduates on state higher education investment. A three-stage least squares regression model with state and year fixed effects is developed and estimated, addressing the relationship between state legislative appropriations, tuition, and educated out-migration across 49 U.S. states from 2006-2015. The results support […]
Evaluating The Forward Citations-Patent Value Relationship: The Role Of Competition
By Neelesh T. Moorthy I assess whether forward citations—how often patents are cited by subsequent patents—reliably capture patent quality. A high-quality invention might lack forward citations if there are no competing, patenting firms. This introduces measurement error in using citations to measure patent value. I test whether greater competition makes forward citations better measures of […]
The Toll of Commuting: The Effects of Commute Time on Well-Being
by M. Thomas Marshall Jr. Abstract When deciding on housing location, people theoretically optimize for the best location given their commute time, housing cost, income, as well as other factors. Stutzer and Frey (2008) suggest that this is not true in some nations, such as in their investigation of Germany, with their results showing that […]
The Impact of a Fixed Exchange Rate Regime on Growth and Volatility in an Oil-‐‑dependent Economy
By Shihab Osman Malik and Faisal Bandar Alsaadi This study examines the relationship between the fixed exchange rate regime, economic growth, and output volatility in oil-‐‑producing Saudi Arabia over the post-‐‑Bretton Woods period (1973–2016). We assess the implications of the current exchange rate regime on macroeconomic and growth performance, and evaluate its sustainability in the […]
Multi-Horizon Forecast Optimality Based on Related Forecast Errors
By Christopher G. MacGibbon This thesis develops a new Multi-Horizon Moment Conditions test for evaluating multi-horizon forecast optimality. The test is based on the variances, covariances and autocovariances of optimal forecast errors that should have a non-zero relationship for multi-horizon forecasts. A simulation study is conducted to determine the test’s size and power properties. Also, […]
Evaluation of the Impact of New Rules in FCC’s Spectrum Incentive Auction
By Elizabeth Lim, Akshaya Trivedi and Frances Mitchell On March 29, 2016, the FCC initiated its first ever two-sided spectrum auction. The auction closed approximately one year later, having repurposed a total of 84 megahertz (MHz) of spectrum. The “Incentive Auction” included three primary components: (1) a reverse auction where broadcasters bid on the price […]
Entrepreneurial Attractiveness: Amazon, Google, and the Search for Innovative Hot Spots
By Anna Katherine Kropf Recent economic literature suggests that entrepreneurship in technological fields can spur economic growth, making it a popular topic for city development officials. Yet, this increasingly popular phenomenon is met by many economic questions. One of those questions is which characteristics of metropolitan areas are attractive to entrepreneurs. To answer the question […]
