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- Creators: Barrett, The Honors College
Description
Minimum wage legislation has always been a controversial topic within the fields of politics and economics. There are those who support it under the belief that those affected will be better off, seeing increased wages, greater efficiency, and overall economic prosperity, whereas its opponents argue against it under the belief that it could lead to negative effects such as decreased employment, higher prices, and loss of productivity. This is something that has recently come up in Arizona after the enactment of Proposition 206 (Prop.206), a law which is set to raise the state minimum wage from $8.05 in 2016 to $12.00 by 2020. In this paper, rather than taking a political stance, however, we seek to find answers about the real effects that this minimum wage law has had on wage earners through the manner in which it has affected the state’s wage distribution, meaning the percentage of earners making a certain hourly rate, or between a certain wage range (i.e. $10.00 to $10.50). We begin this search by looking at May Wage Estimates offered by the Bureau of Labor Statistics (BLS). From that data, we created wage distributions for the state of Arizona for the years 2011-2018. These showed us what percentage of workers in the state are making a certain hourly rate based on the total number of employees in Arizona. By summarizing this through tables and histograms, we can also visually see the way in which AZ wage distributions have changed over time. However, we also sought to visually compare the AZ wage distributions with that of nearby states, so we also used wage distribution data from Nevada, Utah, and New Mexico. Finally, we also wanted to quantify the fixed effects of enacting the legislation in the state of AZ. To do so we ran a difference-in-differences analysis that gave us an actual value measuring how recent minimum wage increases have affected the percentage of total wage earning less than $11.40 per hour. We discovered that our results, although not extremely significant (due to available data), do strongly indicate that the recent minimum wage legislation in AZ has increased the percentage of workers earning more than that amount per hour. Following that, we also give recommendations that could improve the results found in this report.
ContributorsPerez Noyola, Manuel A. (Author) / Silverman, Daniel (Thesis director) / Cordova, Luis (Committee member) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
This paper intends to examine topics related to Chinese financial policy and
institutions mainly in the early 21st century. China has gone through enormous changes in the late 20th century and early 21st century, and financial policy reforms and adjustments have been at times instrumental to aiding that growth, and at other times have served as impediments to the country’s success. As China’s clout has grown both economically and politically in the wider world, it has become evermore important to understand the Chinese financial system, particularly as other authoritarian regimes may seek to emulate it in the perhaps recent future. The paper will examine the institutional elements of Chinese finance, including the broader structure of the party state apparatus and the role of legislative and executive authorities in determining financial policy. Next, the paper will go through both the legal-regulatory environment of the country and the structure of the preeminent Chinese banks. Finally, issues in Chinese monetary policy, particularly exchange rate system reforms, and the developing stock and bond markets will be addressed.
institutions mainly in the early 21st century. China has gone through enormous changes in the late 20th century and early 21st century, and financial policy reforms and adjustments have been at times instrumental to aiding that growth, and at other times have served as impediments to the country’s success. As China’s clout has grown both economically and politically in the wider world, it has become evermore important to understand the Chinese financial system, particularly as other authoritarian regimes may seek to emulate it in the perhaps recent future. The paper will examine the institutional elements of Chinese finance, including the broader structure of the party state apparatus and the role of legislative and executive authorities in determining financial policy. Next, the paper will go through both the legal-regulatory environment of the country and the structure of the preeminent Chinese banks. Finally, issues in Chinese monetary policy, particularly exchange rate system reforms, and the developing stock and bond markets will be addressed.
ContributorsFeatherston, Ryan (Author) / Hill, John (Thesis director) / Mendez, Jose (Committee member) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
The main purpose of this investigation is to determine the intensity, economic costs, and potential solutions to HIV/AIDS stigma in the United States and Tanzania. In order to accomplish this goal, a literature review was conducted, and an economic model was created to determine how HIV/AIDS treatment deterrence manifests and affects these countries. The results of the economic model suggested that Tanzania suffers greater economic loss due to HIV treatment deterrence than the United States, however, both countries lose a significant portion of GDP due to HIV treatment deterrence. Stigma materializes differently in each country based on a variety of sociocultural factors. These include the demographic groups most affected, the perception of those living with HIV, and how sexually transmitted infections are perceived within communities. The solutions to HIV stigma must be tailored to the country, culture, and context that it arises for interventions to be effective. To further prevent HIV/AIDS stigma and its economic consequences, the etiology of stigma and how it presents in different communities must be understood.
ContributorsSangha, Pooja (Co-author) / Hopewell, Sophia (Co-author) / Baldwin, Marjorie (Thesis director) / Hruschka, Daniel (Committee member) / Department of Psychology (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
Accurately assessing Major League Baseball player value is at the core of consistent success for any MLB organization. Effectively targeting players in trades and strategically spending available funds in the free agent market are of increasing importance as MLB salaries rise. In a sport where it takes 162 games to separate contenders, any advantage in identifying talent can be the difference between winning and losing. This paper draws team batting data from the past seven MLB seasons and runs a multi-variable regression to measure the run value of each individual batting outcome. If teams can more accurately measure the offensive value a player produces, they can more optimally spend their finances. Our regression results suggest that previously used statistics such as wOBA and OPS neglect outcome that have significant effects: baserunning ability and out type. Further contract analysis on four free-agent signing from 2018-2019 free agent class illustrate that teams often over and underestimate player value and could benefit greatly with more accurate player evaluation.
ContributorsGildea, Matthew E (Author) / Eaton, John (Thesis director) / Mokwa, Michael (Committee member) / Department of Economics (Contributor) / Department of Psychology (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
There exists a notable gender gap in the field of economics. One explanation for this gap is the low supply of women entering the economics labor market. To understand the shortage of female economics students, I observe students at the undergraduate and graduate level. My data consists of a sample of current undergraduate students and a sample of past Ph.D. applicants at Arizona State University. The gender gaps in these samples, both at the undergraduate and graduate level, can largely be explained by the variation in mathematical preparation of the students. The data reveals that undergraduate male economics students are more frequently enrolled in higher level math courses compared to female undergraduate students. Likewise, a higher number of male Ph.D. applicants have stronger mathematical backgrounds relative to female Ph.D. applicants. This common factor might explain the higher supply of male students who apply and get accepted to postgraduate studies in economics, relative to female students, holding all else constant. I conclude with the following recommended interventions: make information regarding postgraduate opportunities in economics more readily available, and increase math requirements for a bachelor’s degree in economics at ASU.
ContributorsZafari, Zorah (Author) / Datta, Manjira (Thesis director) / Zafar, Basit (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / School of Social Transformation (Contributor, Contributor) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
In this essay, I argue that a regulated kidney market, which would allow qualified Americans to sell one of their kidneys, should be developed in the United States of America. My argument has four parts. First, I provide brief background information for kidneys, kidney disease, and the dire state of kidney transplantation in America. Second, I present a consequentialist argument, deontological argument, and a market argument to establish the moral permissibility of a kidney market and compensation for kidney donations. Third, I evaluate the main legal and social hurdles impeding a kidney market and discuss how these barriers can feasibly be overcome. Fourth, I discuss the logistics of a kidney market and outline the components necessary for an ethical market design. Finally, I address and respond to the myriad of objections for legalizing kidneys and demonstrate how each objection fails to justify the current prohibition on kidney sales. Ultimately, I prove that a paid kidney market should be established in the United States of America. While applicable to many other countries in the world, this particular argument is only for the United States of America.
ContributorsHadziahmetovic, Dino (Author) / Priest, Maura (Thesis director) / Botham, Thad (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
To address the costs of Universal Basic Income (UBI) implementation while promoting new perspectives and broader thinking.
This paper will introduce UBI as a concept and a program to better understand its implementation around the world and the underlying theory of how to afford its sustained use. The paper examines several different implementation and funding mechanisms that are all focused on economic growth as the sole measure of success. It displays how UBI's program costs make it insufficient for further use under those metrics. This paper introduces the need to change the narrative to focus less on GDP-growth and more about the positive benefits of income distribution to raise the poverty line, decrease income inequality, and increase the overall well-being of each citizen in the United States.
This paper will introduce UBI as a concept and a program to better understand its implementation around the world and the underlying theory of how to afford its sustained use. The paper examines several different implementation and funding mechanisms that are all focused on economic growth as the sole measure of success. It displays how UBI's program costs make it insufficient for further use under those metrics. This paper introduces the need to change the narrative to focus less on GDP-growth and more about the positive benefits of income distribution to raise the poverty line, decrease income inequality, and increase the overall well-being of each citizen in the United States.
ContributorsGordon, Chandler Robert (Author) / Hill, Alexander (Thesis director) / Wong, Kelvin (Committee member) / Dean, W.P. Carey School of Business (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
The gig economy is a rapidly growing portion of the US labor landscape. It is appealing to many individuals, as it provides autonomy for workers and opens up increased opportunities for working jobs with desirable schedules. The new California legislation, Assembly Bill 5, is likely to disrupt this sector by increasing costs for employers and removing autonomy from independent contractors with the ABC test that challenges current legal classifications of independent contractors. The ABC test has previously been passed in Massachusetts in 2004 and this paper aims to determine how the test has impacted the Massachusetts self-employment sector. A difference-in-differences estimation and linear regression model were analyzed to accurately determine the impact. A minimal negative correlation was found between the introduction of the ABC test in Massachusetts and the proportion of self-employed individuals in Massachusetts post-treatment. It was also found that the percentage change of average wages for self-employed individuals sharply increased in the first year directly following the implementation of the ABC test in Massachusetts and then decreased in the next year. The regression showed little correlation between the ABC test and self-employment in Massachusetts, as the p-value was not significant at the 5% level for the difference-in-differences interaction term, possibly due to limitations of the model.
ContributorsRao, Veena Yarlagadda (Author) / Aucejo, Esteban (Thesis director) / Shields, David (Committee member) / Department of Economics (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
There is a growing interest among policymakers and economists in quantifying the relationship between climate and economic output. Previous studies have demon- strated a clear relationship between temperature on economic growth but they generally do not report significant impacts of rainfall in regions outside of developing countries. Using gridded panel data, this paper estimates the effects of the number of days during the growing season with no rainfall on per capita gross domestic product (GDP) growth in the areas of the United States over the Ogallala and Mississippi Aquifers. Measuring precipitation in terms of growing season dry days instead of aggregate rainfall levels reveals a strong negative relationship between rainfall deficits and economic growth.
ContributorsMann, John (Author) / Hanemann, Michael (Thesis director) / Kuminoff, Nicolai (Committee member) / Economics Program in CLAS (Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
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.
ContributorsPatel, Dylan (Author) / Sacks, Jana (Thesis director) / Simonson, Mark (Committee member) / Economics Program in CLAS (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05