Variations in Turkey’s Female Labor Market: The Puzzling Role of Education
By Rachel Anderson Although Turkey ranks among the world’s 20 largest economies, female labor force participation in Turkey is surprisingly low. Relative to other developed countries, however, the proportion of Turkish women in senior management is high. One explanation for these contrasting pictures of Turkey’s female labor force is education. To better understand how women’s education and household characteristics explain variations in Turkey’s female labor market, I use annual Turkish Household Labour Force Survey data from […]
Understanding Financial Incentive Health Initiatives: The Impact of the Janani Suraksha Yojana Conditional Cash Transfer Program on Institutional Delivery Rates and Out-of- Pocket Health Expenditure
By Ritika Jain Demand-side financing is a policy tool used by nations to incentivize utilization of public institutions, and India’s Janani Suraksha Yojana (JSY) is one of the largest such financial incentive programs in the world. The program pays eligible pregnant women to deliver their babies in health institutions partnered with the program. This paper […]
The Effect of Minority History on Racial Disparities in the Mortgage Market: A Case Study of Durham and New Haven
By Jisoo Yoon In the aftermath of the housing market crash, the concentration of subprime mortgage loans in minority neighborhoods is a current and long-standing issue. This study investigates the presence of racial disparities in mortgage markets by examining two cities with contrasting histories of African American and Hispanic establishment: Durham, North Carolina and New […]
Dealing with Data: An Empirical Analysis of Bayesian Black-Litterman Model Extensions
By Daniel Roeder Portfolio Optimization is a common financial econometric application that draws on various types of statistical methods. The goal of portfolio optimization is to determine the ideal allocation of assets to a given set of possible investments. Many optimization models use classical statistical methods, which do not fully account for estimation risk in […]
Optimal Lineups in Penalty Kick Shootouts: An Empirical and Theoretical Investigation
By Lucas Hubbard and Christian Britto The purpose of this paper is to determine how teams should order their lineups in a five-man penalty kick shootout. We begin with a theoretical investigation of how comparative advantages for certain players in stressful situations will create clear, optimal lineup strategies for managers to emulate. Then, we analyze […]
Conditional Beta Model for Asset Pricing By Sector in the U.S. Equity Markets
By Yuci Zhang In nance, the beta of an investment is a measure of the risk arising from exposure to general market movements as opposed to idiosyncratic factors. Therefore, reliable estimates of stock portfolio betas are essential for many areas in modern nance, including asset pricing, performance evaluation, and risk management. In this paper, we […]
Exceeding the Threshold: Analysis of Public Information Transfer using Instrumental Variables
By Gabrielle Inder This paper examines how information transfer about contamination levels found at brownfield sites capitalizes into nearby property values. More specifically, a hedonic model is used to test the impact on housing transaction prices when a binary measure (i.e. exceeding a threshold or not) or a continuous measure (i.e. chemical levels) is used. […]
Corporate Financial Distress and Bankruptcy Prediction in North American Construction Industry
By Gang Li This paper seeks to explore the application of Altman’s bankruptcy prediction model in the construction industry by measuring its percentage accuracy on a dataset consisting of 108 bankrupt & non-bankrupt firms selected across the timeline of 1985-2013. Another main goal this paper is to explore the predictive power of an expanded variable […]
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 […]
