Matching Items (246)
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Over the past twenty years, the United States has experienced what Dr. Thomas Philippon calls "The Great Reversal," or a slow drift away from the free market competition which defined the American economy for the last century, towards an increasingly oligopolistic consolidation of market power. What does this mean? For

Over the past twenty years, the United States has experienced what Dr. Thomas Philippon calls "The Great Reversal," or a slow drift away from the free market competition which defined the American economy for the last century, towards an increasingly oligopolistic consolidation of market power. What does this mean? For the average American, prices have increased, wages remain stagnant, quality has declined, and the variety of goods has diminished. The reason? The growing political power of incumbent firms, who use their established economic power to influence the political process in their favor, towards high barriers to entry and decreased antitrust scrutiny, through lobbying and the financing of campaigns. Or have they? "The Great Reversal," and hypotheses like it, are far from a consensus... This Thesis is a meta study of the literature surrounding domestic competition in the United States and the impact that the lobbying activity of industry leaders has on said competition. Analyzing over 20 papers covering economics, political science, and political economy, this Thesis argues that domestic competition in the United States has indeed declined over the past two decades and that the growing political power of firms, rather than "unique" technological or structural changes in the economy, has caused this drift away from free markets. Using this analysis, this Thesis further suggests a few solutions to "The Great Reversal" and restoring competition in the American economy.

ContributorsJohnson, Logan (Author) / Hill, Alexander (Thesis director) / Schatzman, Christina (Committee member) / Barrett, The Honors College (Contributor) / School of Politics and Global Studies (Contributor)
Created2021-12
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States place a heavy reliance on sales tax revenues to finance government activities. The rise in e-commerce, coupled with constitutional restrictions on imposing sales tax nexus, has resulted in a decline in sales tax revenues in many states. States have responded by enacting legislation and reinterpreting existing statutes to curb

States place a heavy reliance on sales tax revenues to finance government activities. The rise in e-commerce, coupled with constitutional restrictions on imposing sales tax nexus, has resulted in a decline in sales tax revenues in many states. States have responded by enacting legislation and reinterpreting existing statutes to curb these declining revenues. This study provides evidence that sales tax revenues are larger after states enforce some, but not all, sales tax measures aimed at imposing nexus on Internet retailers. Further evidence suggests a shift in consumer preferences to local consumption in states enforcing broadened nexus, as evidenced by greater state-level retail gross domestic product (GDP) after states enforce broadened sales tax nexus. Additionally, the number of physical establishments of Internet retailers is lower after states expand sales tax nexus, suggesting these retailers remove their physical presence in states to avoid collecting sales taxes. Finally, the increase in retail GDP has a spillover effect on corporate income taxes, with states enforcing broader sales tax nexus on Internet sales realizing larger corporate income tax revenues.
ContributorsWenzel, Brian S (Author) / Brown, Jennifer L. (Thesis advisor) / Hugon, Jean A (Committee member) / Huston, George R (Committee member) / Arizona State University (Publisher)
Created2017
Description
This paper examines the decreasing affordability of single-family residential homes across the United States, with a special emphasis on Maricopa and Pinal County, Arizona. A historical analysis was conducted on the single-family residential property sector utilizing Federal Reserve and local government data. An affordability model is developed to demonstrate income

This paper examines the decreasing affordability of single-family residential homes across the United States, with a special emphasis on Maricopa and Pinal County, Arizona. A historical analysis was conducted on the single-family residential property sector utilizing Federal Reserve and local government data. An affordability model is developed to demonstrate income thresholds needed to afford a median priced home in Maricopa and Pinal County, while a factor model is developed to predict the economic shifts needed to rectify this issue. My findings suggest that single-family homes have reached peak prices and are not affordable for the average American, based on median income. This housing crisis is the result of many economic factors, including but not limited to: below-average homebuilding, the lock-in effect, excessively cheap monetary policy, mortgages rates, and housing inflation. This is an unprecedented time in our nation’s history, placing tremendous pressure on the Federal Open Market Committee (FOMC) and Congress to tackle this issue. A closing recommendation will discuss the outlook for the single family residential sector.
ContributorsNunez, Christian (Author) / Koblenz, Blair (Thesis director) / Stapp, Mark (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor)
Created2024-05
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This article argues that the current economic design of the US not-for-profit arts sector, specifically theatre, fails to support the long-term wellness of the cultural worker and the cultural commons. As a solution, we propose a global, commons-based alternative economy and complementary currency called Culture Coin that creates new wealth,

This article argues that the current economic design of the US not-for-profit arts sector, specifically theatre, fails to support the long-term wellness of the cultural worker and the cultural commons. As a solution, we propose a global, commons-based alternative economy and complementary currency called Culture Coin that creates new wealth, abundance, and virtuous social behaviors by matching unmet needs with underutilized resources that our current economy fails to circulate. The current design of our arts economy results in generative artists being disproportionately poorer, unjust disparities in how resources are distributed, and social behaviors in the nonprofit sector that mimic for profit, commercial enterprises. The arts sector has an over-dependence on uncompensated or undercompensated “sweat equity” and volatile philanthropic funding. We detail the value and characteristics of a commons framework for entrepreneurial activity and describe internet-enabled peer production as a way to build cultural commons as well as the most effective way to collectively co-create and deploy the Culture Coin project.

ContributorsMathew, Vijay (Author) / Carl, Polly (Author)
Created2013-09-03
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A central concern for modern macroeconomics is incorporating and understanding worker heterogeneity. The following two essays explore labor market dynamics along the dimensions of worker heterogeneity, search frictions, and policy. In each essay, I construct a macroeconomic model of the labor market, calibrate the model using micro data, and use

A central concern for modern macroeconomics is incorporating and understanding worker heterogeneity. The following two essays explore labor market dynamics along the dimensions of worker heterogeneity, search frictions, and policy. In each essay, I construct a macroeconomic model of the labor market, calibrate the model using micro data, and use the model to interpret labor market outcomes and evaluate policy. In the first chapter, I build an equilibrium lifecycle model of wages in which heterogeneous workers endogenously invest in human capital accumulation and on-the-job search effort while firms post jobs. I discipline the model using microdata from the Survey of Income and Program Participation. The calibrated model shows that on-the-job search drives lifecycle wage growth while heterogeneous human capital accumulation drives lifecycle wage dispersion. Then, I use the model as a laboratory to study the effects of tax and transfer progressivity. An increase in progressivity decreases wages, primarily due to reduced on-the-job search effort. Interactions between human capital, search, and job posting amplify the decrease in wages. Surprisingly, an increase in progressivity has little effect on wage dispersion because the effects from the human capital and search channels offset each other. The second chapter deals with the persistence of the unemployment rate over the business cycle. Standard search models contain little internal propagation and predict that, after shocks, the unemployment rate quickly converges to its steady state level. I show that duration dependence in unemployment (the fact that unemployed workers with longer unemployment spells are less likely to find jobs) helps explain the persistence of the unemployment rate. I embed duration dependence in an otherwise standard search model and show that it significantly increases the unemployment rate persistence, reconciling the model to the data. Intuitively, after recessions, the composition of the unemployment pool shifts to the long-term unemployed. Because of duration dependence, the long-term unemployed have lower job finding rates, and the shift in composition decreases the aggregate job finding rate, slowing recovery. The magnitude of the effect depends on the extent to which duration dependence is causal rather than a consequence of worker heterogeneity.
ContributorsMillington, Matthew John (Author) / Ferraro, Domenico (Thesis advisor) / Ventura, Gustavo (Committee member) / Chade, Hector (Committee member) / Arizona State University (Publisher)
Created2024
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Widening economic inequality has been identified as a moral challenge that constitutes a global impediment to socioeconomic well-being. While incongruities exist within any dynamic system, a sustained unequal value distribution can lead to social and economic obstructions for individuals and communities. Entrepreneurship has been identified as a force for good

Widening economic inequality has been identified as a moral challenge that constitutes a global impediment to socioeconomic well-being. While incongruities exist within any dynamic system, a sustained unequal value distribution can lead to social and economic obstructions for individuals and communities. Entrepreneurship has been identified as a force for good and subsequently funded as an institutional methodology to disburse well-being by democratizing economic empowerment. Current popular approaches are institutionalized in wealthier Western contexts, encapsulated in linear narratives, and aggressively exported to new, foreign environments. Due to the often-unrecognized philosophical assumptions underlying these narratives, current approaches tend to limit the benefits of entrepreneurship to specific audiences and position the promoting institutions as entrepreneurial imperialists, creating an economic hegemony as they reinforce current power dynamics and save the most valuable entrepreneurial exchanges for those with access and resources, often benefiting the institutions economically. While much has been written on removing the impediments to current entrepreneurial approaches, this dissertation prioritizes practical utility by proposing the need for a refreshed philosophical approach, a new entrepreneurial narrative, and dynamic institutional networks that prioritize autonomy towards more effectively engaging a favorite of current entrepreneurial narratives: the rising generation.
ContributorsByrne, Jared (Author) / Maynard, Andrew (Thesis advisor) / Berman, Nina (Committee member) / Bowman, Diana (Committee member) / Semadeni, Matthew (Committee member) / Arizona State University (Publisher)
Created2024