Matching Items (12)
Description
The 2007-2008 Global Financial Crisis is one that is not widely understood by many. The easy access to cheap credit and the global over-confidence leading up to 2008 both played a large factor in how economies were affected by the crisis. This paper looks at the stories of Spain, Portugal, Ireland, and Iceland leading up to, during, and after this crisis in order to discover how it happened and why it was so widespread. I explain three lessons that can be learned from this crisis in attempt to avoid this type of crisis in the future. First, countries were not automatically safe investments once they joined the European Monetary Union. Second, easy access to credit is not sustainable in the long run. Finally, confidence plays a main role in the performance of an economy, and the loss of confidence can be detrimental.
ContributorsSmaw, Hannah (Author) / McDaniel, Cara (Thesis director) / Hill, Alexander (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
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.
ContributorsMartin, John Behun (Author) / Hill, Alexander (Thesis director) / Foster, William (Committee member) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
An increasing amount of utilities are moving towards residential demand pricing, causing much controversy and miscommunication between the provider and the consumer as to what demand pricing is, and what it entails for the consumer. This paper will analyze the effectiveness of utility-consumer communication methods and how Arizona utility companies (Salt River Project and Arizona Public Service) have migrated the obstacles of TOU (Time of Use) pricing changes to Arizona utility residents, especially to solar customers. SRP (Salt River Project) and APS (Arizona Public Service) have both implemented pilot programs including the E-27 for SRP and the Saver Choice Plus plan for APS . Both programs, along with international programs, have seen varying levels of success for their business and for consumers to grasp peak-demand pricing and usage. Overall, APS customers have seen an average increase of 4.5% on their electricity bills while SRP customers have experienced, on average, a $19.00 increase. Despite these bill increases, both utilities have seen a decrease in customer electricity demand in response to higher energy costs during peak times.
ContributorsMartinez, Brittney Alyssa (Author) / Hill, Alexander (Thesis director) / Hetrick, John (Committee member) / School of Politics and Global Studies (Contributor) / Economics Program in CLAS (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05
Description
Over the past several decades, the incarceration rates have continued to rise in the United States with seemingly no end in sight. Many of the prisons within America are experiencing major overcrowding of incarcerated persons in addition to an ever expanding budget that seems impossible to adhere to. Qualitative and quantitative studies conclude that preventative and post release programs reduce crime rates and recidivism which saves taxpayer dollars. This paper addresses how much prisons cost, why this is important to the taxpayer, and possible solutions to make the penal system more efficient.
ContributorsBerns, Courtney Leigh (Author) / Hill, Alexander (Thesis director) / Barnhart, Patricia (Committee member) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
In this study, models will be introduced which are developed from historical UFC data and aim to predict the fight outcomes between mixed martial arts fighters within the UFC. The paper will explore multivariate linear probability regression analysis using variables which were provided and developed from a large dataset to effectively predict the probability of a fighter winning a given fight. It will analyze several multivariate regression models and compare, internally, the accuracy of each model and account for limitations within the models. Then, the model’s efficacy will be tested by recent UFC fights and adjusted to find a more accurate equation that maximizes profit in sports betting using implied probability from betting odds and comparing them to the model’s predicted probabilities.
ContributorsTufte, Nicholas (Author) / Hill, Alexander (Thesis director) / Broatch, Jennifer (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Natural Sciences (Contributor)
Created2022-12
Description
The African Continental Free Trade Agreement is one of the latest developments in the world of African politics. It influences several key policy arenas, including the focus of this paper: developmental policy. The AfCFTA hopes to integrate the intra-African trading system, as well as implement several measures to integrate their entire economies. This paper examines the intersection between the AfCFTA and developmental policy defining how it helps and hinders African development goals. This thesis intends to give a clear picture of how this agreement coincides with developmental policy through both economic and political research. The goal of this paper is to provide readers with a detailed report on how this economic agreement could be shaping the developmental policy of the African world.
ContributorsZeleny, Dylan Peter (Author) / Wong, Kelvin (Thesis director) / Hill, Alexander (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
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
Economists, policy-makers, and various intellectuals have consistently debated the strongest way to support citizens. Lately, however, the simplest idea has managed to gain an unbelievable amount of traction. Maybe, rather than a complex policy solution targeted towards to certain demographics and with various work requirements we should simply give people money. The beauty of the idea is in its simplicity – and it is a key reason for its growing popularity. Universal Basic Income (UBI) is a policy proposal that has been steadily gaining momentum throughout the United States and across the world. Recently, it has been viewed as a stimulus to the economy in the wake of the Coronavirus (COVID-19) pandemic as well as a solution to labor-displacing technological advancements. Additionally, many economists, politicians, and various thought-leaders have portrayed basic income as a one-stop solution to many challenges facing the world. The idea behind UBI comes down to this idea – basic income will not solve all your problems – it makes your problems easier to solve. Many UBI advocates use that phrase to argue in favor for a basic income, but it is important to ensure that it doesn’t add to most people’s problems by discouraging work and encouraging seemingly unhealthy habits.
ContributorsRamesh, Neel (Author) / Hill, Alexander (Thesis director, Committee member) / Dean, W.P. Carey School of Business (Contributor, Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
To address and evaluate opioid legislation in the United States and its effectiveness in combating the opioid epidemic.
This paper will assess current and past legislation, on both the state and federal level, in terms of its effectiveness by cross-examining it with existing data. This paper also examines failures on the state and federal levels to properly target at-risk groups. Furthermore, this paper makes recommendations for future legislation to properly allocate resources to localities most affected by the opioid epidemic, and contribute to the decrease in opioid-related overdose deaths.
This paper will assess current and past legislation, on both the state and federal level, in terms of its effectiveness by cross-examining it with existing data. This paper also examines failures on the state and federal levels to properly target at-risk groups. Furthermore, this paper makes recommendations for future legislation to properly allocate resources to localities most affected by the opioid epidemic, and contribute to the decrease in opioid-related overdose deaths.
ContributorsKelly, John C (Co-author) / Kapadia, Kajol (Co-author) / Hill, Alexander (Thesis director) / Foote, Nicola (Committee member) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor, Contributor) / Barrett, The Honors College (Contributor)
Created2020-05
Description
This paper analyzes the correlation between unionization, corporate income taxes, and educational attainment with manufacturing firm locations at the state level across the USA. The paper analyzes the factors that influence firms per capita in a state using the Ordinary Least Squares regression model, with panel data, and fixed effects. The regression takes data from 2012 through 2016 and shows the correlation between unionization, educational attainment, and taxes on firm location. The paper cites Timothy Bartik’s findings (1985) and addresses reasons for changes in results for today’s economy.
ContributorsBernstein, Jacob M. (Author) / Bishop, Kelly (Thesis director) / Hill, Alexander (Committee member) / Department of Economics (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05