Economics and Finance Student Work

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Now showing 1 - 4 of 4
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    Macroeconomic Factors that Affect the Price of Housing in the United States: Evidence from a State-Level Panel Data Analysis
    (2023-05-31) Ronan, Sean
    Due to all the changes in the economy recently the goal of the study is to see how specific macroeconomic factors have affected the housing market in the past to gain some insight into where the overall housing market may trend in the future. This paper offers evidence from a state- level panel data analysis from 1975-2021 on the effects that macroeconomic factors have on home prices in the United States. This analysis focuses on state and country level variables to determine their effect on the housing price index. The results produced by this model indicate that increases in the unemployment rates, the annual supply of new homes, and the federal funds effective rate are connected to decreases in the housing price index. While increases in state minimum wages and inflation can be attributed to increases in home prices. All the variables in the model are statistically significant at the 1% level and the model has an R-squared of .89.
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    Determinant Factors of German Bilateral Export Volume: Evidence From Panel Data Analysis
    (2023-04-30) Savage, Spencer
    "This study applies the gravity model of international trade to analyze determinant factors of bilateral export volume by specifically looking at German exports. Germany currently stands as one of the largest exporters in the world. By examining the export flow patterns of Germany, we can get a better understanding of what factors facilitate trade and which ones discourage. Research is based on panel data of 163 countries taken from the years 2009-2018. Analysis was conducted based on the specifications of the gravity model of international trade. Fixed effects and random effects models were estimated. The conclusions from the estimated model are that the gravity model is significant and an accurate model for determining bilateral trade flows in the case of Germany. The model also shows that membership in the European Union has a significant and positive impact on exports. Inflation has an insignificant impact on export volume, while population has a significant and non-linear relationship with exports."
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    Foreign Aid -- Economic Growth Nexus
    (2023-05-28) Barber, Veronica
    The purpose of this paper is to determine whether the United States’ current government spending on foreign assistance is efficient for the economic development of the recipient countries. The relationship between foreign aid and economic growth is a highly debated topic, as evidenced by its literature. Some believe that qualitative factors such as institutional quality may be the driving force behind economic growth in developing countries. Others have proved that factors such as institutional quality have no effect on the economic development of a nation at all. In my study, I analyze the relationship between disbursed U.S. economic aid and GDP per capita growth in developed countries from 2002 to 2021. I take into account the potential impact of institutional quality on the economic growth of developing nations. My results showed a positive relationship between GDP per capita growth and foreign aid. Additionally, institutional quality may have a positive influence on the economic growth of receiving countries. I used a primary regression to create three sub-regressions that show how institutional quality affects each income level: low income, lower-middle income, and upper-middle income. What I found is that voice and accountability affect low-income countries, rule of law affects lower-middle-income countries, and political stability and control of corruption affect upper-middle-income countries. This breakdown may be used to inform policymakers in the United States to reconsider their approach to foreign aid disbursement.
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    CO2 Emissions and Economic Growth: Empirical Analysis of the Environmental Kuznets Curve
    (2023-05) Nishizawa, Hana
    This research paper investigates the applicability of the Environmental Kuznets Curve (EKC) hypothesis using panel data from 183 countries between 1990 and 2019. The analysis employs a model incorporating a quadratic equation for per capita income. Methodological concerns, including simultaneous bias is addressed. Results support the existence of an EKC for both the full-sample panel and the high-income panel. The estimated tipping points, representing income levels where environmental improvement begins, for the full sample panel aligns with or below previous studies, and those for the high-income panel are higher than earlier estimates. Low- and middle-income countries, EKCs are not established in at least one of the models in each income panel, i.e. CO2 emissions are expected to continue increasing. These results implies that comprehensive strategies are needed that address both economic growth and environmental improvements, especially in low- and middle-income countries.