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The Role of Income in Environmental Justice: A National Analysis of Race, Housing Markets, and Air Pollution
By Christopher Brown Historically, evidence has shown that minority populations in the United States suffer a disproportionate burden of pollution compared to whites. This study examines whether this burden could be the result of income disparities between whites and minorities, acting through the housing market. We look at 324 Metropolitan Statistical Areas (MSA’s) in the […]
Federal and Industrial Funded Research Expenditures and University Technology Transfer licensing
By Trent Chiang In this paper I relate the numbers of university licenses and options to both university research characteristics and research expenditures from federal government or industrial sources. I apply the polynomial distributed lag model for unbalanced panel data to understand the effects of research expenditures from different sources on licensing activity. We find […]
Forecasting Beta Using Conditional Heteroskedastic Models
By Andrew Bentley Conventional measurements of equity return volatility rely on the asset’s previous day closing price to infer the current level of volatility and fail to incorporate information concerning intraday influntuctuations. Realized measures of volatility, such as the realized variance, are able to integrate intraday information by utilizing high-frequency data to form a very […]
The Impact of Macroeconomic Surprises on Mergers & Acquisitions for Real Estate Investment Trusts
By John Battinelli and John Reid This paper examines the impact of various macroeconomics and real estate specific surprises on M&A transactions involving Real Estate Investment Trust. The 2008 financial crisis drastically affected merger & acquisitions activity, especially within the real estate market. The number of M&A transactions involving Real Estate Investment Trusts were very […]
Evaluating the Motivation and Feasibility Theory in Predicting the Onset and Severity of Civil Conflict
By Ishita Chordia This paper looks at 187 countries from 1960-2004 and explores the economic indicators of the onset and the severity of civil conflicts, where civil conflicts are described as small clashes that result in 25 or more battle deaths per conflict. For conflict onset, I test a model that uses the Motivation Theory […]
Trauma Center Efficacy: Certification Status and its Effect on Traffic Fatalities at Varying Radii
By Robert Van Dusen The goal of the paper is to better inform policy makers on the optimal placement of trauma center facilities. Below, I examine the effect of Californian trauma centers vs. standard emergency departments on traffic fatalities for 2002 to 2008. Hospital addresses are geocoded and compared to the geographic coordinates of fatal […]
Incentives and Characteristics that Explain Generic Prescribing Practices
By Rahul Nayak This study uses the National Ambulatory Medical Care Survey (2006-2010) and Health Tracking Physician Survey (2008) to study the incentives and characteristics that explain physician generic prescribing habits. The findings can be characterized into four main categories: (1) financial/economic, (2) informational, (3) patient- dependent and (4) drug idiosyncratic effects. Physicians in practices […]
Variance Risk Premium Dynamics: The Impact of Asset Price Jumps on Variance Risk Premia
By Jackson Pfeiffer This paper utilizes the high-frequency stock price data and the corresponding daily option price data of several highly capitalized corporations in order to investigate the impact that asset price jumps of individual equities have on the equities’ respective variance risk premia. The findings of this paper describe many characteristics of the variance […]
Government Allocation of Import Quota Slots to US Films in China’s Cinematic Movie Market
By Sabrina McCutchan The Chinese government implements a complex regulatory system to decrease the market share of imported Hollywood films for theatrical release. The import quota, censorship, and competitive release-scheduling policies in particular severely limit Hollywood’s access to the Chinese market. However, because the government has a monopoly on film distribution and receives nearly half […]
Enhanced versus Traditional Indexation for International Mutual Funds: Evaluating DFA, Wisdom Tree and RAFI PowerShares
By Heehyun Lim This paper uses stye analysis to compare the performance of traditional international index funds and enhanced international index funds. It attempts to measure the value added beyond classic indexation by the consideration of fundamentals. By employing Sharpe’s style analysis, I formulate a synthetic portfolio composed of DFA traditional funds to imitate each […]
