Matching Items (28)
Description
This dissertation comprises three chapters.
In chapter one, using a rich dataset for the United States, I estimate a series of models to document the birth order effects on cognitive outcomes, non-cognitive outcomes, and parental investments. I estimate a model that allows for heterogeneous birth order effects by unobservables to examine how birth order effects varies across households. I find that first-born children score 0.2 of a standard deviation higher on cognitive and non-cognitive outcomes than their later-born siblings. They also receive 10\% more in parental time, which accounts for more than half of the differences in outcomes. I document that birth order effects vary between 0.1 and 0.4 of a standard deviation across households with the effects being smaller in households with certain characteristics such as a high income.
In chapter two, I build a model of intra-household resource allocation that endogenously generates the decreasing birth order effects in household income with the aim of using the model for counterfactual policy experiments. The model has a life-cycle framework in which a household with two children confronts a sequence of time constraints and a lifetime monetary constraint, and divides the available time and monetary resources between consumption and investment. The counterfactual experiment shows that an annual income transfer of 10,000 USD to low-income households decreases the birth order effects on cognitive and non-cognitive skills by one-sixth, which is five times bigger than the effect in high-income household.
In chapter three, with Francesco Agostinelli and Matthew Wiswall, we examine the relative importance of investments at home and at school during an important transition for many children, entering formal schooling at kindergarten. Moreover, our framework allows for complementarities between children's skills and investments from schools. We find that investments from schools are an important determinant of children's skills at the end of kindergarten, whereas parental investments, although strongly correlated with end-of-kindergarten outcomes, have smaller effects. In addition, we document a negative complementarity between children's skills at kindergarten entry and investments from schools, implying that low-skill children benefit the most from an increase in the quality of schools.
In chapter one, using a rich dataset for the United States, I estimate a series of models to document the birth order effects on cognitive outcomes, non-cognitive outcomes, and parental investments. I estimate a model that allows for heterogeneous birth order effects by unobservables to examine how birth order effects varies across households. I find that first-born children score 0.2 of a standard deviation higher on cognitive and non-cognitive outcomes than their later-born siblings. They also receive 10\% more in parental time, which accounts for more than half of the differences in outcomes. I document that birth order effects vary between 0.1 and 0.4 of a standard deviation across households with the effects being smaller in households with certain characteristics such as a high income.
In chapter two, I build a model of intra-household resource allocation that endogenously generates the decreasing birth order effects in household income with the aim of using the model for counterfactual policy experiments. The model has a life-cycle framework in which a household with two children confronts a sequence of time constraints and a lifetime monetary constraint, and divides the available time and monetary resources between consumption and investment. The counterfactual experiment shows that an annual income transfer of 10,000 USD to low-income households decreases the birth order effects on cognitive and non-cognitive skills by one-sixth, which is five times bigger than the effect in high-income household.
In chapter three, with Francesco Agostinelli and Matthew Wiswall, we examine the relative importance of investments at home and at school during an important transition for many children, entering formal schooling at kindergarten. Moreover, our framework allows for complementarities between children's skills and investments from schools. We find that investments from schools are an important determinant of children's skills at the end of kindergarten, whereas parental investments, although strongly correlated with end-of-kindergarten outcomes, have smaller effects. In addition, we document a negative complementarity between children's skills at kindergarten entry and investments from schools, implying that low-skill children benefit the most from an increase in the quality of schools.
ContributorsSaharkhiz, Morteza (Author) / Silverman, Daniel (Thesis advisor) / Wiswall, Matthew (Thesis advisor) / Aucejo, Esteban (Committee member) / Veramendi, Gregory (Committee member) / Arizona State University (Publisher)
Created2018
Description
A recession at the time of high school graduation could place multiple and competing pressures on a student deciding between entering the labor force and going to college. A recession may lower opportunity costs, increasing college enrollment and depressing the college wage premium; a downturn may also restrict enrollment to only those with sufficient family resources to pay for it. In the event that either of these illustrations holds true, recessions would seem to result in an adverse, exogenous welfare impact. This paper examines the extent to which recessions at the time of high school graduation affect students' likelihood of enrolling in college and then looks at the long-term earnings effects these early-life recessions carry. I first describe the choice between entering a volatile labor market and enrolling in higher education that faces 18-year-old high school graduates during a recession. For my analysis, I use data from the Panel Study of Income Dynamics to study the effects recessions have on high school graduates' decision-making. I then develop a model using these same data to compare the college wage premiums for individuals treated and untreated by a recession at the time of high school graduation. I find that recessions result in an economically significant uptick in college enrollment. However, the college wage premium for those who enroll in a recession is not statistically different from that witnessed by enrollees in better economic climates. Nonetheless, those young people who enter college during a recession may witness an economically appreciable earnings premium over and above the typical college premium. I conclude by exploring the significance of these findings and reflect on their seemingly contradictory implications.
ContributorsFischer, Brett (Author) / Dillon, Eleanor (Thesis director) / Wiswall, Matthew (Committee member) / Veramendi, Gregory (Committee member) / Barrett, The Honors College (Contributor)
Created2015-05
Description
Students in an online course can face diminished incentives to exert effort and focus without the structure of instructor-paced material. To introduce new motivation to spend more time with course material, this paper examines the use of A/B split test content experiments. One group of students is exposed to a set of hidden hyperlinks ("Easter Eggs") within the course and earns trivially small amounts of course credit for finding them. While controlling for demographics and initial effort, finding each additional Easter Egg is associated with a 0.8 percentage point increase in final grade. This effect is even stronger for low performers: for those below the median grade before the first Easter Egg, each find increases final grade by 1.3 points. The treatment advantages low-performing students more than their high-achieving counterparts, thus helping to reduce the education gap at extremely low cost to course developers.
ContributorsWinseck, Kevin Lee (Author) / Hobijn, Bart (Thesis director) / Veramendi, Gregory (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Economics Program in CLAS (Contributor) / School of Music (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
The United States Open Championship, often referred to as the U.S. Open, is one of the four major championships in professional golf. Held annually in June, the tournament changes venues each year and must meet a strict criterion to challenge the best players in the world. Undergoing an evaluation conducted by the United States Golf Association, the potential course is assessed on its quality and design. Along with this, the course is evaluated on its ability to hold various obstructions and thousands of spectators, while also providing plenty of space for parking, ease of transportation access, and a close proximity to local airports and lodging. Of the thousands of courses in the United States, only a select few have had the opportunity to host a U.S. Open, and far fewer have had the chance to host it on multiple occasions. Therefore, we are prepared to create the next venue that has the capabilities of hosting many U.S. Open tournaments for years to come.
ContributorsCostello, Alec (Co-author) / Miller, Alec (Co-author) / Foster, William (Thesis director) / McIntosh, Daniel (Committee member) / W.P. Carey School of Business (Contributor) / Department of Finance (Contributor) / Economics Program in CLAS (Contributor) / School of International Letters and Cultures (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Many fear that the growth of automation and artificial intelligence will lead to massive unemployment since human labor would no longer be needed. Although automation does displace workers from their current jobs, it is unclear the total net effect on jobs this period of advancement will have. One possible solution to help displaced workers is a Universal Basic Income. A Universal Basic Income(UBI) is a set payment paid to all members of society regardless of working status. Compared to current unemployment programs, a Universal Basic Income does not restrict participants in how to spend the money and is more inclusive. This paper examines the effects of a UBI on a person's motivation to work through a study on current college students. There is reason to believe that a Universal Basic Income will lead to fewer people working as people may become dependent on a base payment to meet their basic needs and not look for work. In addition, some people may drop out of their current jobs and rely on a UBI as their main form of income. The current literature does not offer a consensus opinion on this relationship and more studies are being completed with the threat of mass unemployment looming. This study shows the effects of a UBI on participants' willingness to work and then applies these results to the current economic model. With these results and new economic model, a decision about future policies surrounding a UBI can be made.
ContributorsAgarwal, Raghav (Author) / Pulido Hernadez, Carlos (Thesis director) / Foster, William (Committee member) / School of Mathematical and Statistical Sciences (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
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.
ContributorsLavergne, Lisa (Author) / Foster, William (Thesis director) / Goegan, Brian (Committee member) / Economics Program in CLAS (Contributor) / The Design School (Contributor) / Herberger Institute for Design and the Arts (Contributor) / Department of Psychology (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Since 2014, the legal marijuana industry has flourished in Colorado, the first state to ever legalize its recreational use in the United States. It is necessary to fully understand the economic impact of the implementation of the recreational system as well as the characteristics of the market for lawmakers, business owners, and voters to make educated decisions on future legislation. This report will delve into these matters in an objective manner to provide all the stakeholders in any present or future recreational marijuana market (users, business owners, legislators) with accurate information on the current state of the industry. Starting with an introduction of the history of marijuana in the United States, as well as the factors that led to its illegality, offers insight into the past and current laws currently impacting the recreational marijuana market in Colorado, with special emphasis on the state regulatory framework in place at this time. The analysis will include an in-depth examination of the current market forces at play in the recreational marijuana market, including technological, sociological, and economic factors, with a look at current business-level strategies for marijuana businesses and the threats arising from alcohol and tobacco, the drug's main substitutes. This report will explain the tax framework in place in Colorado, and investigate trends in market sales and tax revenues, including detailed statistics on the distribution of tax revenue throughout the state. A comprehensive analysis of the legislative issues the market faces, both in Colorado and across the country, will thoroughly indicate the major problems the industry must overcome in the future, or whether it can do so at all. These will include difficulties in the banking, taxation, insurance, and bankruptcy systems that marijuana-related businesses currently face.
ContributorsDosad, Jay (Author) / Goegan, Brian (Thesis director) / Foster, William (Committee member) / Sandra Day O'Connor College of Law (Contributor) / W.P. Carey School of Business (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
In this work we analyze just what makes the topic of third party voting so intriguing to voters and why it is different than voting for one of the major parties in American politics. First, we will discuss briefly the history of politics in America and what makes it exciting. Next, we will outline some of the works by other political and economic professionals such as Hotelling, Lichtman and Rietz. Finally, using the framework described beforehand this paper will analyze the different stances that voters, candidates, and others involved in the political process of voting have regarding the topic of third party voting.
ContributorsMcElroy, Elizabeth (Co-author) / Beardsley, James (Co-author) / Foster, William (Thesis director) / Goegan, Brian (Committee member) / Department of Economics (Contributor) / School of International Letters and Cultures (Contributor) / Economics Program in CLAS (Contributor) / School of Politics and Global Studies (Contributor) / Barrett, The Honors College (Contributor)
Created2017-05
Description
This paper analyzes the relationship between fatal shootings and several types of legislation. The purpose of this analysis is to determine which gun laws have been more effective at minimizing gun deaths. The following types of firearm legislation were analyzed in the final regression: open carry, concealed carry with a permit, concealed carry without a permit and bans on assault weapons. Through the analysis of these gun laws, the final regression results concluded that gun laws that allow citizens to conceal their weapons, such as concealed carry with or without permit, as well as assault weapon bans typically decrease the amount of firearm deaths, whereas open carrying of firearms typically increases the amount of firearm deaths.
ContributorsAnglin, Meagan Rene (Author) / Goegan, Brian (Thesis director) / Foster, William (Committee member) / School of Politics and Global Studies (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2016-12
Description
This paper explores the potential impact of population aging trends on support for the financing of public education using an applied theoretical approach. As demographic projections anticipate significant increases in the relative share of elderly individuals in the population, the question of how age distribution in a population effects support for public goods such as education becomes increasingly significant. Conventional wisdom suggests that an upward shift in age distribution – increasing the share of elderly individuals relative to workers – will result in decreased support for public education due to elderly individuals’ lack of utility from investments in future productivity. This paper demonstrates that such conventional wisdom does not hold in a simple two-district overlapping generations model and shows that an increasing share of elderly individuals in the population may result in increased levels of funding for education due to changes in a district’s tax base.
The model developed in this paper builds on the work of Mark Gradstein and Michael Kaganovich who demonstrated that while increasing longevity in a two-generation OLG model with two municipal districts creates a downward pressure on tax rates, this effect is dominated by changing political incentives among workers. This paper expands upon the Gradstein-Kaganovich model by introducing endogenous migration rates between districts in the model in order to reflect households’ incentives to minimize tax burden in retirement. It can be shown that as consumers’ responsiveness to differences in tax rates increases, the difference in education funding levels between districts decreases despite the difference in the relative share of elderly individuals in each population increasing. This result stems from the changes in each districts’ tax base brought on by the endogenous migration rate. Based on this finding, this study concludes that retirees function as a positive financial externality when education funding is tied to consumption levels and reaffirms Gradstein and Kaganovich’s conclusion that increasing the relative share of elderly individuals in a population does not necessarily result in decreased funding for public education as conventional wisdom would suggest.
The model developed in this paper builds on the work of Mark Gradstein and Michael Kaganovich who demonstrated that while increasing longevity in a two-generation OLG model with two municipal districts creates a downward pressure on tax rates, this effect is dominated by changing political incentives among workers. This paper expands upon the Gradstein-Kaganovich model by introducing endogenous migration rates between districts in the model in order to reflect households’ incentives to minimize tax burden in retirement. It can be shown that as consumers’ responsiveness to differences in tax rates increases, the difference in education funding levels between districts decreases despite the difference in the relative share of elderly individuals in each population increasing. This result stems from the changes in each districts’ tax base brought on by the endogenous migration rate. Based on this finding, this study concludes that retirees function as a positive financial externality when education funding is tied to consumption levels and reaffirms Gradstein and Kaganovich’s conclusion that increasing the relative share of elderly individuals in a population does not necessarily result in decreased funding for public education as conventional wisdom would suggest.
ContributorsMerkle, Matthew Connor (Author) / Foster, William (Thesis director) / Murphy, Alvin (Committee member) / Department of Economics (Contributor, Contributor) / School of Mathematical and Statistical Sciences (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05