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Author Archives: Matthew Eggleston
The Russian Maternity Capital Policy: Two Models
by Jackson Cooksey Abstract Between 1991 and 2007 the Russian Federation experienced a decrease in population and a drop in total fertility rate below population replacement levels. In 2007 the government, citing the importance of forestalling this decline, implemented the Russian Maternity Capital Policy, a one-time subsidy to those families who have a second or […]
Corporate Governance in State-Owned and Privately-Owned Enterprises
by Despoina Chouliara Abstract In this paper I examine the principal/agency relationship in corporate governance and introduce it in a steady state growth model. More specifically, I will model a profit-maximizing privately-owned enterprise and a series of state-owned enterprises with varying economic goals. I will use the insights of agency theory to revisit the debate […]
Economic Situations and Social Distance: Taxation and Donation
by Alexander Brandt Abstract: This experimental study evaluated the effects of two common economic situations – taxation and donation – on the social distance between participants in the situations, an original effect of interest that is the opposite of prior research. This study employed a novel survey framework, in which subjects gave money to others […]
The Future of Payment Transactions: The Convenience and Security of Mobile Payments
by Shane Cashin Abstract This study aims to evaluate the American consumers drive for payment choice. With cash, credit, and debit still covering most of the payment transactions that occur across the country every day, there has been a trend toward the use of mobile payments as the technology improves and more businesses have started […]
Women’s Land Rights and Empowerment: Impact of the Land Tenure Regularization Reform (LTR) on Contraceptive Use and Domestic Violence in Rwanda
by Winnie Biwott Abstract The Rwandan Land Tenure Regularization reform (LTR) was implemented in 2007 to clarify land ownership in the country especially for women. Specifically, the reform enabled women in married unions to obtain joint titles with their partners as proof of land ownership. Using data from the 2010 Rwandan Demographic and Health Surveys […]
Corporate Swap Use and Its Effect on Swap Spreads
by Christopher Paul Lin Abstract Interest rate swaps are financial derivatives that allow people to speculate on interest rates or hedge certain interest rate exposures. Corporations, in particular, can use the swap market to effectively change fixed rate debt into floating rate debt or vice versa. This paper empirically tests whether debt issuance by financial […]
The Closed-End Fund Puzzle: A Cross-Sectional Analysis of U.S. Closed-End Fund Discounts
by David Lefty Abstract This paper examines the effect of systematic beta risk, expense ratios, and fund size on the cross-sectional variation of closed-end fund discounts. Using a methodology similar to that of Gemmill and Thomas (2002) and Flynn (2004) on a sample of 50 U.S. closed-end funds, the data indicate that expense ratios have […]
PUBLIC EDUCATION IN PUERTO RICO: DOES CLASS SIZE MATTER?
by Eddy V. Leal Abstract Even though there is a large literature concerning the effects of class size on educational achievement, no previous research has formally examined the class size reduction policy in Puerto Rico. The evidence in this paper suggests that class size does not have a causal effect on student achievement in Puerto […]
The Elusiveness of Systematic Jumps
by Tzuo Hann Law Abstract We test for the presence of jumps and measure the price variance of 40 major stocks and the index they form using intra-day returns. Subsequently, we find that jumps can be classified into two groups: systematic and idiosyncratic. Idiosyncratic jumps are firm specific and are usually larger than systematic jumps […]
An Empirical Study of the Anticommons Effect on Public vs. Private Researchers
by Serena S. Lam Abstract The “anticommons effect” is a recently coined term to describe the phenomenon of stifled research and innovation in the biomedical research arena due to the growing number of overlapping patents in particular domains. Murray and Stern (2005) was the first to devise a novel strategy to quantify this effect by […]
