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Federal Reserve Interest Rate Management: Combatting Speculation of Market Volatility and Recessionary Sentiment

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Abstract: Handling the multiple functions of monetary policy that protect the U.S. economy not only on a short term, but also long-term scale is a complicated responsibility assigned to Federal Reserve, in which their actions present a profound impact on

Abstract: Handling the multiple functions of monetary policy that protect the U.S. economy not only on a short term, but also long-term scale is a complicated responsibility assigned to Federal Reserve, in which their actions present a profound impact on consumer confidence towards financial markets and global economies. Specifically, one of the most important goals of the Federal Reserve is to mitigate the risk of the United States to enter a recession, while maintaining a balanced approach when making those policy decisions. In this thesis, we focus on the monetary policy of the Federal Reserve, particularly, their role in controlling interest rates to prevent recessionary sentiment in the current state of the economy. Since 2008, markets have been stronger and previous policies like Dodd-Frank have ensured that market collapses during the Great Recession do not repeat itself. Yet, fluctuations in the yield curve, polarizing investment views, and unsettled consumer confidence has pointed to another recession in the near future. In this case, we will look at the way the Fed has implemented short term policies to lower this risk in order to fight volatile markets, however, fluctuating interest rates has its consequences. The goal of this thesis is to analyze the various ways the Fed has managed interest rates in the past and present, and further, to offer a framework to serve as the most effective policy to combat volatility and recessionary sentiment in the U.S. economy.

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2020-05

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K-pop as a Soft Power

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This essay examines national leaders’ shaping of K-pop into a foreign export, specifically looking into how K-pop is used as a soft power for South Korea. I also examine how effective K-pop is as a soft power. Because of its

This essay examines national leaders’ shaping of K-pop into a foreign export, specifically looking into how K-pop is used as a soft power for South Korea. I also examine how effective K-pop is as a soft power. Because of its growing global popularity and use of K-pop artists for international relations, such as Red Velvet performing for Kim Jong Un, we might expect K-pop to act as the gateway into South Korean culture, often being the first exposure that other countries have into this country’s way of life. Through a qualitative analysis of resources ranging from news articles, videos, and social media posts, we see that K-pop idols, a term for K-pop celebrities, are heavily groomed and shaped by their labels to promote the South Korean national brand. Combined with a well-made business model to appeal to different countries, they also create sentiment for South Korean culture throughout the world with the support of the government and a strong fanbase. This plan is extremely effective in generating revenue for a multitude of South Korean brands beyond K-pop and even fosters South Korean affection in North Korea.

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2020-05

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Factors of Economic Development and Implications for the Future

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This paper, titled “Factors of Economic Development and Implications for the Future” focuses on identifying historical factors that have impacted economic development and analyzing what changes may be important for the future. It uses studies done across the world in

This paper, titled “Factors of Economic Development and Implications for the Future” focuses on identifying historical factors that have impacted economic development and analyzing what changes may be important for the future. It uses studies done across the world in energy economics, economic development, economic policy, and more to identify important considerations for evaluating historical growth, as well as concerns for the future, particularly given the threat of climate change. Historically important papers, as well as newer insights both feature heavily. This literary review resulted in the finding that education, energy, trade, policy, institutions, endowments, and culture are all important factors for economic development. Endowments and institutions that arise from them are found to be the most important factor in explaining historical development. The paper also analyzes policy that the existing literature suggests could be beneficial for growth. Next, an analysis of factors that the literature identified as important for growth is carried out to assess which countries may have the highest potentials for future growth. The countries are ranked based upon a composite scoring system created from those factors. Countries in Central Asia feature heavily in the top ten entries, while many African countries narrowly miss out on the top ten but still rank relatively high. Together, the findings of both sections are used to discuss how economies have historically developed as well as possible policies to encourage future sustainable development. Both the literature and statistical findings suggest that for future growth promotion of strong institutions that promote property rights and economic growth will be important. They also suggest that coordinated energy policy to increase green technologies and decouple growth from emissions will be essential.

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2020-05

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The Impact of Social Media: Revolutionary Changes in Sports Marketing

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The sports industry is unlike any other in that it connects individuals and consumers from destinations around the world with one common interest. That commonality can be as specific as a favorite player, team, league, or sport. All in all,

The sports industry is unlike any other in that it connects individuals and consumers from destinations around the world with one common interest. That commonality can be as specific as a favorite player, team, league, or sport. All in all, it bands together entire communities with their passion for the game. American sports leagues such as the National Football League, National Hockey League, Major League Baseball, National Basketball Association, and many more, have all revolutionized the way that businesses view marketing though a user friendly, interactive, marketing tool with a universal reach.

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2020-05

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Holy Teammates - How Sport and Religion Utilize Each Other

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In this thesis I will explore the connections that exist between sport and religion by considering how both involve pursuit of perfection, shared lexicon, significant events and rituals, and heroes and legends. Then I will devote time to exploring two

In this thesis I will explore the connections that exist between sport and religion by considering how both involve pursuit of perfection, shared lexicon, significant events and rituals, and heroes and legends. Then I will devote time to exploring two other major themes: (a) how religion utilizes sport and (b) how sport incorporates religion.

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2020-12

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Where to From Here? A Comprehensive Analysis of Past and Future of The Republic of Cuba

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This paper analyzes modern day Cuba and draws conclusions about the most likely future political and economic events that will take place. Because of Cuba's troubled economy, leadership change and the world's continued shift towards democratization, Cuba is in a

This paper analyzes modern day Cuba and draws conclusions about the most likely future political and economic events that will take place. Because of Cuba's troubled economy, leadership change and the world's continued shift towards democratization, Cuba is in a position where drastic changes in its government and economic structure may occur. This paper investigates Cuba's history, politics, economy, and the general quality of life of its citizens, which are used to help predict what may happen to the Cuban government in the near future. The paper also analyzes options for foreign nations' policy towards Cuba and summarizes what actions they may take to increase the likelihood of an economic and political transition. Cuba's economic structure needs drastic reform, the reluctant privatization only increases wealth disparity, trust in the government continues to get weaker as more information and its human rights violations are causes of huge concern. There are four possible outcomes for Cuba's future: stagnation, adopting the mixed economic model, a peaceful transition to a democratic model, and rebellion. There is evidence that Cuba will not make drastic policy changes in favor of liberalization in the immediate future, however, if the economic conditions are not improved and an economic crisis ensues, this paper asserts that another revolution or coup will likely occur. The resulting government may be a new autocratic leader that fills the vacuum of leadership, or a democratic regime depending on the nature of the rebellion. The exact future of Cuba is uncertain, but one thing is clear, change is on the horizon.

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2018-05

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Attendance Elasticity of Win Percentage in the NBA: An Exploration of the Effects of Team Performance on Home Game Attendance

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In the wide world of sports, not all fan bases are created equally—especially in the NBA. Differences in factors like tradition, history, team performance amongst teams make each fan base distinctly unique. This paper will analyze how team performance effects

In the wide world of sports, not all fan bases are created equally—especially in the NBA. Differences in factors like tradition, history, team performance amongst teams make each fan base distinctly unique. This paper will analyze how team performance effects one component of fan behavior: home game attendance. Using win-loss data and home game attendance data for each NBA team from 2001 to 2017, I will construct statistical models to estimate how great of an impact team performance has on each team’s home game attendance. I expect each team’s fan base to respond differently to changes in their team’s win-loss record. This paper will also attempt to quantify other facts that impact attendance at NBA games, including year-to-year changes in team salary expenditures, regional income, and the number of star players playing for the team. Finally, this paper will explore the factors that affect home game attendance for specific games within a given season—things like weather, strength of opponent, and win streaks. Ultimately, the goal of this paper will be to provide NBA business analysts with resources to more precisely anticipate their team’s home game attendance. The ability to understand what motivates the behavior of a fan base is invaluable in creating a marketing strategy that drives fans to the arena. This paper will help to identify teams that are most susceptible to significant fluctuations in attendance and outline alternative strategies to positioning their product offering effectively to fans.

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2018-05

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Impact of R&D Expenditure on Pharmaceutical Drug Prices: A Cross-Country Comparison

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Over the past few decades, pharmaceutical spending has been increasing, due in large part to high prices of prescription drugs. In the United States, pharmaceutical manufacturers defend high prices by citing the high costs of research and development, which they

Over the past few decades, pharmaceutical spending has been increasing, due in large part to high prices of prescription drugs. In the United States, pharmaceutical manufacturers defend high prices by citing the high costs of research and development, which they argue spurns innovation and makes up for the high prices paid by consumers. This study seeks to determine the validity of that claim and to fully understand the impact that R&D expenditures have on pharmaceutical drug prices. Employing a fixed effects regression, this study assesses the relationship between per capita R&D expenditure and per capita pharmaceutical spending (a stand-in variable for average drug price) for twelve OECD-member countries over a span of seven years. Holding country and year effects fixed, this regression shows a nearly one to one positive relationship between R&D expenditure and pharmaceutical spending, meaning a one-dollar increase in R&D expenditure increases pharmaceutical spending by around one-dollar as well. This impact, while statistically significant, is not that large, implying that R&D expenditures are not a strong driver of drug prices, contrary to what many pharmaceutical manufacturers argue.

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2018-05

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The Emergence and Evolution of Gendered Products in America

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Gendered products are prevalent in the modern consumer products market. This paper provides historical context for the change in the consumer products market which started as a genderless product market and shifted to a female consumer-centric market reflecting the economic

Gendered products are prevalent in the modern consumer products market. This paper provides historical context for the change in the consumer products market which started as a genderless product market and shifted to a female consumer-centric market reflecting the economic needs of the United States through World War I and II. This female consumer-centric market results from the rise of consumer research and many household products are created to satisfy female consumer preferences. But as the consumer demographics change with more women entering the labor force, the types of products being sold change to appeal to the increasing number of male consumers who begin shopping for themselves. This increase in male products is what leads to the booming men's personal care products market that we see today. With an increase in gendered products, there has also been an increase in the number of backlash companies face for creating specific gendered products. This paper outlines the history of gendered products and the potential future of products in the United States.

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2018-05

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An Analysis of Consumer Demand for Digital Songs

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In this paper I seek to understand how consumers value music today by investigating what consumers are willing to pay for digitally downloaded songs (such as the ones available on the iTunes or Amazon music stores) and the variety of

In this paper I seek to understand how consumers value music today by investigating what consumers are willing to pay for digitally downloaded songs (such as the ones available on the iTunes or Amazon music stores) and the variety of factors that influence their willingness to pay. I conducted a survey and received over 500 responses regarding willingness to pay for single-song downloads, consumer sentiment on whether music should be free, streaming service use, and other information pertaining to music consumption behavior. Through this research I found that paid-streamers are willing to pay more for songs than those who do not pay to stream, all else being equal. Further, Free-streamers are not willing to pay significantly more or less than non-streamers. This finding is additional information to other research that suggests streaming acts as a substitute for sales. I also found that most consumers are in the middle when it comes to the debate for whether music should always be free or always be purchased. Where someone aligns on the spectrum is a statistically significant contributing factor to what that person is willing to pay for a song. My findings also suggest that consumer preferences distinguish between benefit derived from music ownership and benefit derived from the ability to listen to music. This information sheds more light on the reason behind the declining digital download market.

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2018-05