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ASU Electronic Theses and Dissertations


This collection includes most of the ASU Theses and Dissertations from 2011 to present. ASU Theses and Dissertations are available in downloadable PDF format; however, a small percentage of items are under embargo. Information about the dissertations/theses includes degree information, committee members, an abstract, supporting data or media.

In addition to the electronic theses found in the ASU Digital Repository, ASU Theses and Dissertations can be found in the ASU Library Catalog.

Dissertations and Theses granted by Arizona State University are archived and made available through a joint effort of the ASU Graduate College and the ASU Libraries. For more information or questions about this collection contact or visit the Digital Repository ETD Library Guide or contact the ASU Graduate College at gradformat@asu.edu.


Subject
Date Range
2011 2019


The current study was a benefit cost analysis that examined mental and behavioral health and prescription drug service use data of 347 participants (212 youth and 135 caregivers) from a bereavement intervention, the Family Bereavement Program (FBP).The preliminary goals of the current study were to compare the FBP intervention and the Literature Control (LC) groups at the six year follow-up on: (a) number of participants using mental/behavioral health services and prescription drugs, (b) the frequency of use of mental/behavioral health services and prescription drugs, and (c) the costs of mental/behavioral health services and prescription drugs. The final, and primary goal, …

Contributors
Porter, Michele Marie, Hanish, Laura D., Sandler, Irwin N, et al.
Created Date
2011

This thesis pursues a method to deregulate the electric distribution system and provide support to distributed renewable generation. A locational marginal price is used to determine prices across a distribution network in real-time. The real-time pricing may provide benefits such as a reduced electricity bill, decreased peak demand, and lower emissions. This distribution locational marginal price (D-LMP) determines the cost of electricity at each node in the electrical network. The D-LMP is comprised of the cost of energy, cost of losses, and a renewable energy premium. The renewable premium is an adjustable function to compensate `green' distributed generation. A D-LMP …

Contributors
Kiefer, Brian, Heydt, Gerald T, Shunk, Dan, et al.
Created Date
2011

This dissertation consists of two essays. The first measures the degree to which schooling accounts for differences in industry value added per worker. Using a sample of 107 economies and seven industries, the paper considers the patterns in the education levels of various industries and their relative value added per worker. Agriculture has notably less schooling and is less productive than other sectors, while a group of services including financial services, education and health care has higher rates of schooling and higher value added per worker. The essay finds that in the case of these specific industries education is important …

Contributors
Schreck, Paul, Herrendorf, Berthold, Herrendorf, Berthold, et al.
Created Date
2011

Hydropower generation is one of the clean renewable energies which has received great attention in the power industry. Hydropower has been the leading source of renewable energy. It provides more than 86% of all electricity generated by renewable sources worldwide. Generally, the life span of a hydropower plant is considered as 30 to 50 years. Power plants over 30 years old usually conduct a feasibility study of rehabilitation on their entire facilities including infrastructure. By age 35, the forced outage rate increases by 10 percentage points compared to the previous year. Much longer outages occur in power plants older than …

Contributors
Kwon, Ogeuk, Holbert, Keith E, Heydt, Gerald T, et al.
Created Date
2011

This dissertation consists of three essays. The first essay studies quality increases in the medical sector. A large and growing share of income is spent on medical goods and services each year. Existing measures of the price and quantity of medical goods and services do not take changes in quality into account. Ample micro evidence suggests the quality of medical goods and services has, in fact, improved over time. This essay estimates changes in medical quality at the aggregate level. To do so, this essay develops and estimates a dynamic structural model of the demand for medical purchases. The main …

Contributors
Lawver, Daniel, Prescott, Edward C, Rogerson, Richard, et al.
Created Date
2011

This work is driven by two facts. First, the majority of households in the U.S. obtain health insurance through their employer. Second, around 20% of working age households choose not to purchase health insurance. The link between employment and health insurance has potentially large implications for household selection into employment and participation in public health insurance programs. In these two essays, I address the role of public and private provisions of health insurance on household employment and insurance decisions, the distribution of welfare, and the aggregate economy. In the first essay, I quantify the effects of key parts of the …

Contributors
Janicki, Hubert Piotr, Prescott, Edward C, Rogerson, Richard, et al.
Created Date
2011

I study the importance of financial factors and real exchange rate shocks in explaining business cycle fluctuations, which have been considered important in the literature as non-technological factors in explaining business cycle fluctuations. In the first chapter, I study the implications of fluctuations in corporate credit spreads for business cycle fluctuations. Motivated by the fact that corporate credit spreads are countercyclical, I build a simple model in which difference in default probabilities on corporate debts leads to the spread in interest rates paid by firms. In the model, firms differ in the variance of the firm-level productivity, which is in …

Contributors
Kim, Seon Tae, Prescott, Edward C, Rogerson, Richard, et al.
Created Date
2011

Despite a wealth of academic literature critiquing current tensions within the Fair Trade (FT) movement, very little work has focused on examining the birth and evolution of the FT movement within the broader context of the international political economy (IPE), specifically in reference to the ideological and policy changes that ushered in an era of free trade and deregulated markets for both trade and finance. From such an optic, it is no longer enough to merely question the extent to which the market should be engaged. Rather, one must question whether the engagement of the market strips the movement of …

Contributors
Sugata, Michihiro Clark, Simmons, William, Stancliff, Michael, et al.
Created Date
2011

Estimating cointegrating relationships requires specific techniques. Canonical correlations are used to determine the rank and space of the cointegrating matrix. The vectors used to transform the data into canonical variables have an eigenvector representation, and the associated canonical correlations have an eigenvalue representation. The number of cointegrating relations is chosen based upon a theoretical difference in the convergence rates of the eignevalues. The number of cointegrating relations is consistently estimated using a threshold function which places a lower bound on the eigenvalues associated with cointegrating relations and an upper bound on the eigenvalues on the eigenvalues not associated with cointegrating …

Contributors
Nowak, Adam Daniel, Ahn, Seung C, Liu, Crocker, et al.
Created Date
2012

The present essay addresses the epistemic difficulties involved in achieving consensus with respect to the Hayek-Keynes debate. In particular, it is argued that the debate cannot be settled on the basis of the observable evidence; or, more precisely, that the empirical implications of the theories of Hayek and Keynes are such that, regardless of what is observed, both of the theories can be interpreted as true, or at least, not falsified. Regardless of the evidence, both Hayek and Keynes can be interpreted as right. The underdetermination of theories by evidence is an old and ubiquitous problem in science. The present …

Contributors
Scheall, Scott Davis, Creath, Richard, Armendt, Brad, et al.
Created Date
2012

Mutual monitoring in a well-structured authority system can mitigate the agency problem. I empirically examine whether the number 2 executive in a firm, if given authority, incentive, and channels for communication and influence, is able to monitor and constrain the potentially self-interested CEO. I find strong evidence that: (1) measures of the presence and extent of mutual monitoring from the No. 2 executive are positively related to future firm value (Tobin's Q); (2) the beneficial effect is more pronounced for firms with weaker corporate governance or CEO incentive alignment, with stronger incentives for the No. 2 executives to monitor, and …

Contributors
Li, Zhichuan, Coles, Jeffrey, Hertzel, Michael, et al.
Created Date
2012

Research on the consequences of gang membership is limited mainly to the study of crime and victimization. This gives the narrow impression that the effects of gang membership do not cascade into other life domains. This dissertation conceptualized gang membership as a snare in the life-course that disrupts progression in conventional life domains. National Longitudinal Survey of Youth Cohort of 1997 (NLSY97) data were used to examine the effects of adolescent gang membership on the nature and patterns of educational attainment and employment over a 12-year period in the life-course. Variants of propensity score weighting were used to assess the …

Contributors
Pyrooz, David C, Decker, Scott H, Pratt, Travis C, et al.
Created Date
2012

Schennach (2007) has shown that the Empirical Likelihood (EL) estimator may not be asymptotically normal when a misspecified model is estimated. This problem occurs because the empirical probabilities of individual observations are restricted to be positive. I find that even the EL estimator computed without the restriction can fail to be asymptotically normal for misspecified models if the sample moments weighted by unrestricted empirical probabilities do not have finite population moments. As a remedy for this problem, I propose a group of alternative estimators which I refer to as modified EL (MEL) estimators. For correctly specified models, these estimators have …

Contributors
Xiang, Jin, Ahn, Seung, Wahal, Sunil, et al.
Created Date
2013

This paper presents a two-period general equilibrium model that incorporates the firm's learning-by-doing under the green subsidies. I use a dynamic version of the Dixit-Stiglitz monopolistic competition model to analyze the impact of the introduction of green subsidies in the presence of pre-existing effluent taxes. I first show that the introduction of green subsidies promotes the demand for green goods, and consumers are better off each period. I then show that even when the green subsidies directly accrue to consumers, firms in the green sector also benefit via boosted demand for green goods. The learning-by-doing effect accelerates the speed of …

Contributors
Chung, Myunghun, Hanemann, W. Michael, Datta, Manjira, et al.
Created Date
2013

I show that firms' ability to adjust variable capital in response to productivity shocks has important implications for the interpretation of the widely documented investment-cash flow sensitivities. The variable capital adjustment is sufficient for firms to capture small variations in profitability, but when the revision in profitability is relatively large, limited substitutability between the factors of production may call for fixed capital investment. Hence, firms with lower substitutability are more likely to invest in both factors together and have larger sensitivities of fixed capital investment to cash flow. By building a frictionless capital markets model that allows firms to optimize …

Contributors
Kim, Kirak, Bates, Thomas, Babenko, Ilona, et al.
Created Date
2013

The lack of food safety in a grower's produce presents the grower with two risks; (1) that an item will need to be recalled from the market, incurring substantial costs and damaging brand equity and (2) that the entire market for the commodity becomes impaired as consumers associate all produce as being risky to eat. Nowhere is this more prevalent than in the leafy green industry, where recalls are relatively frequent and there has been one massive E. coli outbreak that rocked the industry in 2006. The purpose of this thesis is to examine insurance policies that protect growers from …

Contributors
Pagaran, Jeremy, Manfredo, Mark R, Richards, Timothy J, et al.
Created Date
2013

The objective of this dissertation is to empirically analyze the results of the retail location decision making process and how chain networks evolve given their value platform. It employs one of the largest cross-sectional databases of retailers ever assembled, including 50 US retail chains and over 70,000 store locations. Three closely related articles, which develop new theory explaining location deployment and behaviors of retailers, are presented. The first article, "Regionalism in US Retailing," presents a comprehensive spatial analysis of the domestic patterns of retailers. Geographic Information Systems (GIS) and statistics examine the degree to which the chains are deployed regionally …

Contributors
Joseph, Lawrence, Kuby, Michael, Matthews, Richard, et al.
Created Date
2013

The jobless recovery of the Great Recession has led policymakers and citizens alike to ask what can be done to better protect regions from the cascading effects of an economic downturn. Economic growth strategies that aim to redevelop a waterfront for tourism or attract high growth companies to the area, for example, have left regions vulnerable by consolidating resources in just a few industry sectors or parts of town. A promising answer that coincided with growing interest in regional innovation policy has been to promote entrepreneurship for bottom-up, individual-led regional development. However, these policies have also failed to maximize the …

Contributors
Auer, Jennifer, Chapman, Jeffrey, Johnston, Erik, et al.
Created Date
2013

This dissertation consists of three essays on education and macroeconomics. The first chapter analyzes whether public education financing systems can account for large differences among developed countries in earnings inequality and intergenerational earnings persistence. I first document facts about public education in the U.S. and Norway, which provide an interesting case study because they have very different earnings distributions and public education systems. An overlapping generations model is calibrated to match U.S. data, and tax and public education spending functions are estimated for each country. The benchmark exercise finds that taxes and public education spending account for about 15% of …

Contributors
Herrington, Christopher Michael, Prescott, Edward C, Ventura, Gustavo, et al.
Created Date
2013

This dissertation consists of three essays that broadly deal with the growth and development of economies across time and space. Chapter one is motivated by the fact that agricultural labor productivity is key for understanding aggregate cross-country income differences. One important proximate cause of low agricultural productivity is the low use of intermediate inputs, such as fertilizers, in developing countries. This paper argues that farmers in poor countries rationally choose to use fewer intermediate inputs because it limits their exposure to large uninsurable risks. I formalize the idea in a dynamic general equilibrium model with incomplete markets, subsistence requirements, and …

Contributors
Donovan, Kevin, Prescott, Edward C., Herrendorf, Berthold, et al.
Created Date
2013

With the projected population growth, the need to produce higher agricultural yield to meet projected demand is hindered by water scarcity. Out of many the approaches that could be implemented to meet the water gap, intensification of agriculture through adoption of advanced agricultural irrigation techniques is the focus for this research. Current high water consumption by agricultural sector in Arizona is due to historical dominance in the state economy and established water rights. Efficiency gained in agricultural water use in Arizona has the most potential to reduce the overall water consumption. This research studies the agricultural sector and water management …

Contributors
Budiyanto, Yoshi, Muneepeerakul, Rachata, Smith, Karen, et al.
Created Date
2014

This study evaluates the potential profitability and environmental benefit available by providing renewable energy from solar- or wind-generated sources to electric vehicle drivers at public charging stations, also known as electric vehicle service equipment (EVSE), in the U.S. Past studies have shown above-average interest in renewable energy by drivers of plug-in electric vehicles (PEVs), though no study has evaluated the profitability and environmental benefit of selling renewable energy to PEV drivers at public EVSE. Through an online survey of 203 U.S.-wide PEV owners and lessees, information was collected on (1) current PEV and EVSE usage, (2) potential willingness to pay …

Contributors
Nienhueser, Ian Andrew, Qiu, Yueming, Rogers, Bradley, et al.
Created Date
2014

Urban scaling analysis has introduced a new scientific paradigm to the study of cities. With it, the notions of <italic>size</italic>, <italic>heterogeneity</italic> and <italic>structure</italic> have taken a leading role. These notions are assumed to be behind the causes for why cities differ from one another, sometimes wildly. However, the mechanisms by which size, heterogeneity and structure shape the general statistical patterns that describe urban economic output are still unclear. Given the rapid rate of urbanization around the globe, we need precise and formal mathematical understandings of these matters. In this context, I perform in this dissertation probabilistic, distributional and computational explorations …

Contributors
Gomez-Lievano, Andres, Lobo, José, Muneepeerakul, Rachata, et al.
Created Date
2014

This dissertation focuses on democracies governed by a Parliament. In such democracies, the executive branch consists of a subset of parties in the Parliament, called the Government. A key feature is that the Government is only indirectly determined by the voters' electoral decisions. This dissertation address how parliamentary characteristics and institutions influence the composition of the Government and government outcomes. The composition of the Government reflects the size and ideological make-up of the Government. Government outcomes reflect the length the Government survives and the policy consequences of the Government. The literature focuses on the former criterion. The view is that, …

Contributors
HU, LIN, Hu, Lin, Friedenberg, Amanda, et al.
Created Date
2014

This thesis focuses on developing an integrated transmission and distribution framework that couples the two sub-systems together with due consideration to conventional demand flexibility. The proposed framework ensures accurate representation of the system resources and the network conditions when modeling the distribution system in the transmission OPF and vice-versa. It is further used to develop an accurate pricing mechanism (Distribution-based Location Marginal Pricing), which is reflective of the moment-to-moment costs of generating and delivering electrical energy, for the distribution system. By accurately modeling the two sub-systems, we can improve the economic efficiency and the system reliability, as the price sensitive …

Contributors
Singhal, Nikita Ghanshyam, Hedman, Kory W, Tylavsky, Daniel J, et al.
Created Date
2014

<bold>your words</bold> Dissertation/Thesis

Contributors
Wang, Dan, Grebitus, Carola, Schroeter, Christiane, et al.
Created Date
2014

It is well understood that decisions made under uncertainty differ from those made without risk in important and significant ways. Yet, there is very little research into how uncertainty manifests itself in the most ubiquitous of decision-making environments: Consumers' day-to-day decisions over where to shop, and what to buy for their daily grocery needs. Facing a choice between stores that either offer relatively stable "everyday low prices" (EDLP) or variable prices that reflect aggressive promotion strategies (HILO), consumers have to choose stores under price-uncertainty. I find that consumers' attitudes toward risk are critically important in determining store-choice, and that heterogeneity …

Contributors
Yonezawa, Koichi, Richards, Timothy J, Grebitus, Carola, et al.
Created Date
2014

As urban populations grow, water managers are becoming increasingly concerned about water scarcity. Water managers once relied on developing new sources of water supply to manage scarcity but economically feasible sources of unclaimed water are now rare, leading to an increased interest in demand side management. Water managers in Las Vegas, Nevada have developed innovative demand side management strategies due to the cities rapid urbanization and limited water supply. Three questions are addressed. First, in the developed areas of the Las Vegas Valley Water District service areas, how did vegetation area change? To quantify changes in vegetation area, the Matched …

Contributors
Brelsford, Christina M., Abbott, Joshua K, York, Abigail M, et al.
Created Date
2014

This dissertation applies the Bayesian approach as a method to improve the estimation efficiency of existing econometric tools. The first chapter suggests the Continuous Choice Bayesian (CCB) estimator which combines the Bayesian approach with the Continuous Choice (CC) estimator suggested by Imai and Keane (2004). Using simulation study, I provide two important findings. First, the CC estimator clearly has better finite sample properties compared to a frequently used Discrete Choice (DC) estimator. Second, the CCB estimator has better estimation efficiency when data size is relatively small and it still retains the advantage of the CC estimator over the DC estimator. …

Contributors
Choi, Kwang-shin, Ahn, Seung, Mehra, Rajnish, et al.
Created Date
2014

Research literature were reviewed regarding the land-use economic theory of bid-rent curves and the modern emergence of polycentric cities. Two independent Geographic Information System (GIS) analyses were completed to test the hypothesis that bid-rent methodology could be used to tease out trends in residential locations, and hence contribute to present-day urban planning efforts. Specifically, these analyses sought to address the relationships between place of work and place of residence in urban areas. A generalizable set of benchmarks for identifying urban employment centers were established for 10 study cities in the United States, and bid-rent curves were calculated under separate monocentric …

Contributors
Bochnovic, Michael Andrew, Mack, Elizabeth, Pfeiffer, Deirdre, et al.
Created Date
2014

This dissertation consists of three essays that broadly deal with the international economics and development. The first chapter provides empirical evidence of the prevalence and importance of intangible capital transfer within multinational corporations (MNCs). Using a unique data set of Korean multinational foreign affiliates, I find that most of the foreign affiliates have managers transferred from their parent, while almost half are isolated from the parent in terms of physical trade. Furthermore, the transferred managers are positively associated with labor productivity, while physical trade from the parent is less so. I consider two possibilities for this productivity effect: (1) the …

Contributors
Cho, Jaehan, Silverman, Daniel, Prescott, Edward C., et al.
Created Date
2014

Unrestricted Mexican exports of sugar into the U.S. is considered the most pressing issue facing the U.S. sugar industry. The goal of this dissertation is to analyze the trade of sugar between Mexico and the U.S. as well as analyze additional primary issues confronting the U.S. sugar industry. Chapters 1 and 2 provide an introduction to the U.S. sugar industry. Chapters 3 through 6 develop trade models which analyze sugar trade between Mexico and the U.S. The trade models estimate how NAFTA, USDA sugar forecast errors and Mexican ownership of twenty percent of the Mexican sugar industry each impact U.S. …

Contributors
Lewis, Karen Elizabeth, Schmitz, Troy, Grebitus, Carola, et al.
Created Date
2014

The city of Shanghai is set to become an international financial center (IFC) by 2020. To achieve this goal, it is imperative to clearly define the key characteristics of an IFC. In this study I draw from recent research on the ranking of IFCs to develop an index of these key characteristics that can be used to assess a city’s standings as an IFC. Based on a review of prior research, I first put together a comprehensive list of the indicators that have been used to evaluate IFCs, which includes six first-level indicators and 34 second-level indicators. I then collect …

Contributors
Wang, Weiren, Yao, David, Gu, Bin, et al.
Created Date
2015

The dissertation consists of three essays that deal with variations in economic growth and development across space and time. The essays in particular explore the importance of differences in occupational structures in various settings. The first chapter documents that intergenerational occupational persistence is significantly higher in poor countries even after controlling for cross-country differences in occupational structures. Based on this empirical fact, I posit that high occupational persistence in poor countries is symptomatic of underlying talent misallocation. Constraints on education financing force sons to choose fathers' occupations over the occupations of their comparative advantage. A version of Roy (1951) model …

Contributors
Sinha, Rishabh, Herrendorf, Berthold, Schoellman, Todd, et al.
Created Date
2015

ABSTRACT Because economic advancement has been defined by Western society and not by Indigenous peoples themselves, the material gains of such narrowly defined notions of advancement have long been an elusive dream for many Indigenous communities in the United States. Many reasons have been given as to why significant economic advancement through a Western materialistic lens has been unattainable, including remoteness, the inability to get financing on trust land, and access to markets. These are all valid concerns and challenges, but they are not insurmountable. Another disconcerting reason has been the perception that the federal government through its trust responsibility …

Contributors
Luarkie, Richard, Brayboy, Bryan, Sumida Huaman, Elizabeth, et al.
Created Date
2015

This dissertation consists of two essays that deal with the development of open developing economies. These economies have experienced drastic divergence in terms of economic growth from the 1970s through the 2010s. One important feature of those countries that have lagged behind is their failure to build up their domestic innovation capacity. Abstract The first chapter discusses the policies that may have an impact on the long-run innovation capacity of developing economies. The existing literature emphasizes that the backward linkage of foreign-owned firms is a key to determining whether FDI is beneficial or detrimental to a domestic economy. However, little …

Contributors
Ge, Zhizhuang, Vereshchagina, Galina, Schoellman, Todd, et al.
Created Date
2015

In Latin America food insecurity is still prevailing in those regions where extreme poverty and political instability are common. Tseltal communities are experiencing changes due to religious conversions and the incursion of external political institutions. These changes have diminished the importance of traditional reciprocal and redistributive institutions that historically have been essential for personal and community survival. This dissertation investigated the impact that variations on governance systems and presence of reciprocal and distributional exchanges have on the food security status of communities. Qualitative data collected in four communities through 117 free lists and 117 semi-structured interviews was used to elaborate …

Contributors
DE LA TORRE PACHECO, SINDY YANETH, Janssen, Marco, Eakin, Hallie, et al.
Created Date
2015

Through critical discourse analysis, this thesis explores the construction of poverty and development within and across the United Nations Millennium Development Goals and the proposed post-2015 Sustainable Development Goals texts. The proposed post-2015 Sustainable Development Goals frame the international development landscape for the next 15 years, therefore it becomes imperative for civil society to understand their dominant economic schemes for poverty alleviation in order to adopt or oppose similar methods of poverty abatement. Deductively, this thesis investigates Keynesianism and neoliberalism, the dominant economic discourses whose deployments within the goals have shaped transnational frameworks for interpreting and mitigating poverty. It assesses …

Contributors
Briant, Janie Elizabeth, Nadesan, Majia, Kelley, Douglas L, et al.
Created Date
2015

The current study combines field study, survey study, and public financial reports, and conducts an in-depths comprehensive study of the cost of the global tire industry. By comparing the price and the total cost structure of standardized tire products, we investigate Chinese tire industry’s global competitiveness, especially in light of China’s fast increasing labor cost. By constructing a comprehensive cost index (CCI), this dissertation estimates the evolution and forecasts the trend of global tire industry’s cost structure. Based on our empirical analysis, we provide various recommendations for Chinese tire manufacturers, other manufacturing industries, and foreign trade policy makers. Dissertation/Thesis

Contributors
Zhang, Ning, Zhu, Ning, Shen, Wei, et al.
Created Date
2015

Before 1990s, the relationship between money supply and inflation was positively correlated, however, from 1990 onwards, the US and other major developed countries entered into a new financial era with a typical belief that hyper money supply coexisted with lower inflation. This phenomenon is called “the paradox of inflation”. Traditional theories cannot provide reasonable explanations of this new phenomenon. In my study, I have taken the linear filtering techniques which Lucas developed in 1980, and the recursive estimation method, as well as the chow test and F-test, and choose the data of the US, Britain, Japan, Germany, Euro area, BRICKs …

Contributors
Cao, Tong, Prescott, Edward C, Liu, Jun, et al.
Created Date
2015

In trading, volume is a measure of how much stock has been exchanged in a given period of time. Since every stock is distinctive and has an alternate measure of shares, volume can be contrasted with historical volume inside a stock to spot changes. It is likewise used to affirm value patterns, breakouts, and spot potential reversals. In my thesis, I hypothesize that the concept of trading volume can be extrapolated to social media (Twitter). The ubiquity of social media, especially Twitter, in financial market has been overly resonant in the past couple of years. With the growth of its …

Contributors
Awasthi, Piyush, Davulcu, Hasan, Tong, Hanghang, et al.
Created Date
2015

Although China’s economy has experienced fast growth over the years, it is also characterized by a lack of innovative products and slow development of advanced production technologies. A main reason for this problem is insufficient investments in research and development (R&D) activities by Chinese firms. Because of the potential externality and free-rider effects, the economics literature has long suggested that the private sector tends to underinvest in R&D without governmental interventions. The weak protection of intellectual property rights in China makes the problem of underinvestment in R&D even worse. In this situation, it becomes increasingly important for the government to …

Contributors
Yang, Guisheng, Hwang, Yuhchang, Wang, Tan, et al.
Created Date
2015

The Chinese capital market is characterized by high segmentation due to governmental regulations. In this thesis I investigate both the causes and consequences of this market segmentations. Specifically, I address the following questions: (1) to which degree this capital market segmentation is caused by the fragmented regulations in China, (2) what are the key characteristics of this market segmentation, and (3) what are the impacts of this market segmentation on capital costs and resources allocations. Answers to these questions can have important implications for Chinese policy makers to improve capital market regulatory coordination and efficiency. I organize this thesis as …

Contributors
Jia, Shaojun, Hwang, Yuhchang, Chen, Hong, et al.
Created Date
2015

Traditional deterministic reserve requirements rely on ad-hoc, rule of thumb methods to determine adequate reserve in order to ensure a reliable unit commitment. Since congestion and uncertainties exist in the system, both the quantity and the location of reserves are essential to ensure system reliability and market efficiency. The modeling of operating reserves in the existing deterministic reserve requirements acquire the operating reserves on a zonal basis and do not fully capture the impact of congestion. The purpose of a reserve zone is to ensure that operating reserves are spread across the network. Operating reserves are shared inside each reserve …

Contributors
Wang, Fengyu, Hedman, Kory W., Zhang, Muhong, et al.
Created Date
2015

This dissertation outlines the role that futures markets for tradable permits can play in improving the performance of incentive based policies for environmental externalities. An extensive literature on tradable permits exists. However, to my knowledge, the role of futures contracts as an instrument for responding to permit price uncertainty has not been considered, nor has their pricing performance in this role been examined. This research provides a theoretical description of how futures can be used to manage the price uncertainty associated with permit purchases. It then evaluates if the futures contract performance for the former U.S. Sulfur Dioxide (SO2) and …

Contributors
Lewis, Daniel, Manfredo, Mark R., Smith, V. Kerry, et al.
Created Date
2015

This paper discusses the matching between CEOs of different talent and firms of different size, by considering boards' costly monitoring of CEOs who have private information about firm output. By incorporating a costly state verification model into a matching model, we have a number of novel findings. First, positive assortative matching (PAM) breaks down as larger firms match with less talented CEOs when monitoring is sufficiently costly despite of complementarity in firms' production technology. More importantly, PAM can be the equilibrium sorting pattern for large firms and high talent CEOs even it fails for small firms and low talent CEOs, …

Contributors
Li, Zhan, Chade, Hector, Kovrijnykh, Natalia, et al.
Created Date
2015

This dissertation consists of two essays on corporate policy. The first chapter analyzes whether being labeled a “growth” firm or a “value” firm affects the firm’s dividend policy. I focus on the dividend policy because of its discretionary nature and the link to investor demand. To address endogeneity concerns, I use regression discontinuity design around the threshold to assign firms to each category. The results show that “value” firms have a significantly higher dividend payout - about four percentage points - than growth firms. This approach establishes a causal link between firm “growth/value” labels and dividend policy. The second chapter …

Contributors
Lee, Tae Eui, Mehra, Rajnish, Tserlukevich, Yuri, et al.
Created Date
2015

The dissertation consists of two essays in misallocation and development. In particular, the essays explore how government policies distort resource allocation across production units, and therefore affect aggregate economic and environmental outcomes. The first chapter studies the aggregate consequences of misallocation in a firm dynamics model with multi-establishment firms. I calibrate my model to the US firm size distribution with respect to both the number of employees and the number of establishments, and use it to study distortions that are correlated with establishment size, or so-called size-dependent distortions to establishments, which are modeled as implicit output taxes. In contrast to …

Contributors
Xi, Xican, Herrendorf, Berthold, Ventura, Gustavo, et al.
Created Date
2016

Transportation infrastructure in urban areas has significant impacts on socio-economic activities, land use, and real property values. This dissertation proposes a more comprehensive theory of the positive and negative relationships between property values and transportation investments that distinguishes different effects by mode (rail vs. road), by network component (nodes vs. links), and by distance from them. It hypothesizes that transportation investment generates improvement in accessibility that accrue only to the nodes such as highway exits and light rail stations. Simultaneously, it tests the hypothesis that both transport nodes and links emanate short-distance negative nuisance effects due to disamenities such as …

Contributors
Seo, Kihwan Seo, Michael, Kuby, Golub, Aaron, et al.
Created Date
2016

This dissertation consists of three chapters. The first two explore the impact of government policies on human capital accumulation. Chapter one makes two novel contributions related to the two workhorse models in the human capital literature: Learning by Doing (LBD) and Ben-Porath (BP). First, I show that BP is much more consistent with empirical life-cycle patterns related to individual earnings growth rates relative to LBD. Second, I show that the same model features that generate different life-cycle predictions between models also generate different policy implications. In particular, increasing the top marginal labor tax rate, relative to the current US level, …

Contributors
Blandin, Adam, Ventura, Gustavo, Schoellman, Todd, et al.
Created Date
2016