Advanced search options

Advanced Search Options 🞨

Browse by author name (“Author name starts with…”).

Find ETDs with:

in
/  
in
/  
in
/  
in

Written in Published in Earliest date Latest date

Sorted by

Results per page:

Sorted by: relevance · author · university · dateNew search

You searched for +publisher:"Penn State University" +contributor:("Keisuke Hirano, Committee Member"). Showing records 1 – 3 of 3 total matches.

Search Limiters

Last 2 Years | English Only

No search limiters apply to these results.

▼ Search Limiters


Penn State University

1. Makioka, Ryo. Essays on Applied Microeconomics.

Degree: 2018, Penn State University

This dissertation consists of three chapters. The fist chapter analyzes the impact of antisweatshop activism on employment. A recent work, Harrison and Scorse (2010), suggests that anti sweatshop campaigns could increase wages of affected firms without adverse impacts on employment. I find that this is too optimistic: there are adverse impacts on employment once three econometric issues are accounted for. In the second chapter, I analyze the impact of an increase in SNAP benefits (the supplemental nutrition assistance program, formerly called food stamps) on shopping behavior, consumption choice, and prices. Using consumer scanner data, I show that the increase in benefits due to ARRA (American Recovery and Reinvestment Act) (1) reduces shopping effort (the number of shopping trips as well as use of specials and coupons), (2) raises the price for the same barcode, and (3) results in substitution into high price products. With these empirical findings in mind, I construct a structural model with costly shopping which allows me to construct a theory-based CES price index that incorporates preference shocks and allows me to estimate the extent of these different margins of adjustment. The increase in SNAP benefits is associated with a 4.6% increase in the price index. Of this, 15% comes from the pure price increase, 10% comes from a change in consumption variety both within and across product groups, 74.2% comes from a change in preference shocks, and 0.3% comes from a change in the number of shopping trips. As a counter-factual exercise, I analyze the impact of an upcoming pilot policy, which allows SNAP recipients to use SNAP benefits to buy from online retailers. By saving time for shopping trips, the pilot policy raises SNAP recipients’ welfare by at least 15 a quarter purely through easier access to retail stores. The gains can be as high as 250-327 a quarter if they allocate the saved shopping time into labor supply. In the third chapter, I analyze the impact of a rise in online transactions on consumer welfare in the United States, through both a change in the cost-of-living and a change in leisure consumption. Using consumer scanner data and time-use data, I show that (1) online transactions have recently grown over time, but the magnitude is heterogeneous across US geography, (2) the increase in online transactions reduces the number of shopping trips to physical retail stores, and (3) the decline in shopping time increases time for leisure consumption. With these empirical findings in mind, I construct a model of consumption and time allocation decisions, which provides an expression on welfare gains from online transactions. It shows that there is about 1% welfare gains from online transactions in 2015, 73% of which come from a decline in the cost-of-living while the remaining from an increase in leisure consumption. Advisors/Committee Members: Kala Krishna, Dissertation Advisor/Co-Advisor, Kala Krishna, Committee Chair/Co-Chair, James R. Tybout, Committee Member, Keisuke Hirano, Committee Member, Edward C Jaenicke, Outside Member, Stephen Ross Yeaple, Committee Member.

Subjects/Keywords: International Economics; Food Stamp; Multinational Firms; E-Commerce; Shopping Behavior; Sweatshop

Record DetailsSimilar RecordsGoogle PlusoneFacebookTwitterCiteULikeMendeleyreddit

APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Makioka, R. (2018). Essays on Applied Microeconomics. (Thesis). Penn State University. Retrieved from https://submit-etda.libraries.psu.edu/catalog/15547rxm425

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Makioka, Ryo. “Essays on Applied Microeconomics.” 2018. Thesis, Penn State University. Accessed November 28, 2020. https://submit-etda.libraries.psu.edu/catalog/15547rxm425.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Makioka, Ryo. “Essays on Applied Microeconomics.” 2018. Web. 28 Nov 2020.

Vancouver:

Makioka R. Essays on Applied Microeconomics. [Internet] [Thesis]. Penn State University; 2018. [cited 2020 Nov 28]. Available from: https://submit-etda.libraries.psu.edu/catalog/15547rxm425.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Makioka R. Essays on Applied Microeconomics. [Thesis]. Penn State University; 2018. Available from: https://submit-etda.libraries.psu.edu/catalog/15547rxm425

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


Penn State University

2. Zhu, Shengbo. Essays on Financial Economics and Econometrics.

Degree: 2020, Penn State University

In a recent seminal paper, Steve Ross proposed an attractive strategy to extract the physical distribution and risk aversion from just state prices. However, empirical papers that try to use his Recovery Theorem almost all lead to a depressing conclusion: the recovery theorem does not work. Both the state-price matrix and the recovered physical transition matrix are unreasonable and highly sensitive to subjective specifications and constraints. Borovička, Hansen and Scheinkman (2016) proposes a widely-accepted explanation for the empirical failure: according to the Hansen-Scheinkman decomposition established in Hansen and Scheinkman (2009), the assumption about the stochastic discount factor in Ross (2015) is equivalent to arbitrarily setting the martingale component to be 1, which is quite unlikely in reality. In Chapter 1, I argue that in contrast to Borovička, Hansen and Scheinkman (2016), the assumption about the stochastic discount factor in Ross (2015) actually does not set the martingale component in the Hansen-Scheinkman decomposition to be 1. What causes the empirical failure is actually a time-homogeneous state-price matrix, which induces quite restrictive implications on the underlying price process and those restrictions are easily violated in reality. In particular, when the underlying price is used as the state variable or as one component of the state vector, this restriction becomes an eigenvalue equation that contradicts the important eigenvalue equation in Ross (2015), which in this case makes the Recovery Theorem not just empirically implausible, but also logically inconsistent. Chapter 2 studies the following conceptual question: in what sense is the Fundamental Theorem of Asset Pricing similar to the two-period no-arbitrage theorem (a.k.a., Farkas lemma)? The purpose of studying this question is (1) to study the information that can be extracted from prices of derivatives in a multi-period context, generalizing the result in a two-period case in Breeden and Litzenberger (1978); (2) to find a way to write down explicitly a multi-period arbitrage process, just as a two-period arbitrage can be written down as a vector. To answer the above conceptual question, I break it down into three more specific questions: (1) How to generalize the concept of states to a multi-period model? (2) How to generalize the concept of state price to a multi-period model? (3) In what sense is a multi-period arbitrage process similar to a two-period arbitrage strategy which is just a vector? The key to answering those questions is to explicitly describe the probability space on which price processes are defined, especially what “information flow” means. I adopt the canonical probability space (i.e., the space of all possible paths of some price process) and propose to consider the whole path of as the state variable and the “path prices”(i.e., the equivalent martingale measure) as the analogue of state prices. This chapter discusses how we can recover prices of paths using prices of associated derivative securities and… Advisors/Committee Members: Andrew Ronald Gallant, Dissertation Advisor/Co-Advisor, Andrew Ronald Gallant, Committee Chair/Co-Chair, Patrik Guggenberger, Committee Member, Keisuke Hirano, Committee Member, Jingzhi Huang, Outside Member, Shouyong Shi, Committee Member, Marc Albert Henry, Program Head/Chair.

Subjects/Keywords: Ross recovery theorem; equivalent martingale measure; stochastic discount factor; martingale condition; state price; path price; intrinsic inconsistency; implied process; fundamental theorem of asset pricing; canonical probability space; Markovian quasi-MLE; conditional asymptotic independence; mixing condition; near-epoch dependence

Record DetailsSimilar RecordsGoogle PlusoneFacebookTwitterCiteULikeMendeleyreddit

APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Zhu, S. (2020). Essays on Financial Economics and Econometrics. (Thesis). Penn State University. Retrieved from https://submit-etda.libraries.psu.edu/catalog/18113szz126

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Zhu, Shengbo. “Essays on Financial Economics and Econometrics.” 2020. Thesis, Penn State University. Accessed November 28, 2020. https://submit-etda.libraries.psu.edu/catalog/18113szz126.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Zhu, Shengbo. “Essays on Financial Economics and Econometrics.” 2020. Web. 28 Nov 2020.

Vancouver:

Zhu S. Essays on Financial Economics and Econometrics. [Internet] [Thesis]. Penn State University; 2020. [cited 2020 Nov 28]. Available from: https://submit-etda.libraries.psu.edu/catalog/18113szz126.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Zhu S. Essays on Financial Economics and Econometrics. [Thesis]. Penn State University; 2020. Available from: https://submit-etda.libraries.psu.edu/catalog/18113szz126

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation


Penn State University

3. Wang, Jinwen. essays on educational investment and outcomes.

Degree: 2020, Penn State University

The dissertation aims to understand how individual efforts/choices, family environment, and education systems contribute to human capital development and shape educational outcomes. The first chapter studies what drives the parental investment gaps in children in both time and money across socio-economic groups. I develop a dynamic model of parental in- vestment and child development that incorporates education-based heterogeneity in four possible mechanisms: preference for children’s human capital, return on parental invest- ment, family structure, and family income, with the first three mechanisms being novel. I estimate the model with Simulated Method of Moments based on a large U.S. panel dataset (ECLS-K), which was merged with the American Time Use Survey (ATUS) and Consumer Expenditure Survey (CES) using a new econometric framework to yield more accurate mea- sures of investment. The results show that more-educated parents value childrens human capital more and also receive a higher return on investment in terms of both time and money. Based on the estimated model I conduct counterfactual exercises and show that of the four channels, differences in the return on parental investment drive most of the differences in investment and achievement across socio-economic groups. I also combine the empirical results from a large-scale parenting intervention in Columbia with my estimated model to evaluate various policies at a similar cost. Results show that policies improving parenting skills can be substantially more cost-effective than redistributive policies in promoting child development. The second chapter provides a method to identify and account for non-serious behavior in low-stakes exams, whose most well-known and best-executed example is PISA. PISA is seen as the gold standard for evaluating education systems worldwide. Yet, being a low- stakes exam, students may not take it seriously resulting in downward biased scores and inaccurate rankings. We use the skipping and timing information in the computer-based assessment to show the existence of bias due to non seriousness as well as the heterogeneity of such bias across countries. Then we account for the bias of being non-serious using multiple imputation techniques and quantify the effects of non-serious behavior on country performance. Results show that scores and rankings of countries change substantially when non-seriousness of the students is taken into account. Our findings suggest that using PISA scores and rankings as done currently paints a distorted picture of where countries stand in both absolute and relative terms. The adjustment we propose helps to provide a more accurate evaluation. The third chapter explores the effectiveness and welfare implications of various supply- side policies in response to the increasingly fierce competition of admission into universities. The fierce competition induces students’ greater effort and retaking behavior, which, while privately beneficial, are socially wasteful, because such efforts impose negative spillovers… Advisors/Committee Members: Kala Krishna, Dissertation Advisor/Co-Advisor, Kala Krishna, Committee Chair/Co-Chair, Russell Cooper, Committee Member, Keisuke Hirano, Committee Member, Katerina Bodovski, Outside Member, Marc Albert Henry, Program Head/Chair.

Subjects/Keywords: Parental investment; Child development; Low-stakes exam; College admission

Record DetailsSimilar RecordsGoogle PlusoneFacebookTwitterCiteULikeMendeleyreddit

APA · Chicago · MLA · Vancouver · CSE | Export to Zotero / EndNote / Reference Manager

APA (6th Edition):

Wang, J. (2020). essays on educational investment and outcomes. (Thesis). Penn State University. Retrieved from https://submit-etda.libraries.psu.edu/catalog/17954jxw490

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16th Edition):

Wang, Jinwen. “essays on educational investment and outcomes.” 2020. Thesis, Penn State University. Accessed November 28, 2020. https://submit-etda.libraries.psu.edu/catalog/17954jxw490.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7th Edition):

Wang, Jinwen. “essays on educational investment and outcomes.” 2020. Web. 28 Nov 2020.

Vancouver:

Wang J. essays on educational investment and outcomes. [Internet] [Thesis]. Penn State University; 2020. [cited 2020 Nov 28]. Available from: https://submit-etda.libraries.psu.edu/catalog/17954jxw490.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Wang J. essays on educational investment and outcomes. [Thesis]. Penn State University; 2020. Available from: https://submit-etda.libraries.psu.edu/catalog/17954jxw490

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

.