Consumer sentiment and house prices: asymmetric evidence from state-level data in the United States

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohsen Bahmani-Oskooee ◽  
Hesam Ghodsi ◽  
Muris Hadzic
Keyword(s):  
House Prices ◽  
State Level ◽  
The United States ◽  
Symmetric Model ◽  
Consumer Sentiment ◽  
Content Type ◽  
Asymmetric Effects ◽  
Level Data ◽  
The Usa ◽  
The Impact

Purpose The purpose of this paper is to assess and compare the symmetric and asymmetric effects of consumer sentiment on house prices in each state of the USA. This is the first study that uses state-level data. Design/methodology/approach Both linear and nonlinear autoregressive distributed lag approaches are used to assess the asymmetric effects of consumer sentiment on house prices in each state of the USA. Findings When the authors estimated a linear symmetric model, this paper found short-run effects of consumer sentiment on house prices in 34 states that lasted into the long-run in only 13 states. The comparable numbers by estimating a nonlinear asymmetric model were 47 and 22, respectively. The increase in the number of states where consumer sentiment affects house prices was attributed to the nonlinear adjustments of consumer sentiment. Originality/value The authors deviate from previous research and assess the impact of consumer sentiment on house prices by using data from each state of the USA. The authors also deviate from previous research by demonstrating that the effects could be asymmetric. No study has done this at the state-level.

The impact of labor freedom on geographic cost of living differentials

2017 ◽  
Vol 6 (3) ◽  
pp. 385-395
Author(s):  
Richard Cebula ◽  
James E. Payne ◽  
Donnie Horner ◽  
Robert Boylan
Keyword(s):  
Labor Market ◽  
State Level ◽  
The State ◽  
Annual Data ◽  
Significant Finding ◽  
Cost Of Living ◽  
Content Type ◽  
The Usa ◽  
The Cost ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of labor market freedom on state-level cost of living differentials in the USA using cross-sectional data for 2016 after allowing for the impacts of economic and quality of life factors. Design/methodology/approach The study uses two-stage least squares estimation controlling for factors contributing to cost of living differences across states. Findings The results reveal that an increase in labor market freedom reduces the overall cost of living. Research limitations/implications The study can be extended using panel data and alternative measures of labor market freedom. Practical implications In general, the finding that less intrusive government and greater labor freedom are associated with a reduced cost of living should not be surprising. This is because less government intrusion and greater labor freedom both inherently allow markets to be more efficient in the rationalization of and interplay with forces of supply and demand. Social implications The findings of this and future related studies could prove very useful to policy makers and entrepreneurs, as well as small business owners and public corporations of all sizes – particularly those considering either location in, relocation to, or expansion into other markets within the USA. Furthermore, the potential benefits of the National Right-to-Work Law currently under consideration in Congress could add cost of living reductions to the debate. Originality/value The authors extend the literature on cost of living differentials by investigating whether higher amounts of state-level labor market freedom act to reduce the states’ cost of living using the most recent annual data available (2016). That labor freedom has a systemic efficiency impact on the state-level cost of living is a significant finding. In our opinion, it is likely that labor market freedom is increasing the efficiency of labor market transactions in the production and distribution of goods and services, and acts to reduce the cost of living in states. In addition, unlike previous related studies, the authors investigate the impact of not only overall labor market freedom on the state-level cost of living, but also how the three sub-indices of labor market freedom, as identified and measured by Stansel et al. (2014, 2015), impact the cost of living state by state.

How does the estate tax affect the number of firms?

2014 ◽  
Vol 3 (1) ◽  
pp. 96-117 ◽  
Author(s):  
Pavel A. Yakovlev ◽  
Antony Davies
Keyword(s):  
Small Firms ◽  
State Level ◽  
Small Business Owners ◽  
Tax Burden ◽  
Estate Tax ◽  
Content Type ◽  
The Usa ◽  
The Rich ◽  
The Impact ◽  
Number Of Firms

Purpose – The purpose of this paper is to estimate the effect of the combined (Federal and state) estate, inheritance, and gift (EIG) tax burden per decedent on the number of firms in the USA. Design/methodology/approach – Estimates are based on a longitudinal panel of 50 American states from 1988 to 2006. Findings – The paper finds that the growth in the EIG tax burden per decedent significantly reduces the growth in the number of firms, especially small firms. The higher dissolution rate among small firms can be attributed to the asymmetric liquidity effect, which limits the ability of small business owners to raise the funds needed to pay the estate tax without liquidating their estates. Practical implications – The estimates suggest that the reductions in EIG taxes, brought about by the passage of 2001 EGTRRA, have lead to a higher growth in the number of firms, ceteris paribus. Social implications – As of this writing, the future of the Federal estate tax looks uncertain. Policymakers should note that the estate tax lowers competition and economic growth, which hurts both the poor and the rich. Originality/value – This study is the first to examine the impact of the combined (Federal and state) EIG tax burden on the number of firms using state-level panel data.

scholarly journals The impact of a federal cigarette minimum pack price policy on cigarette use in the USA

2017 ◽  
Vol 27 (2) ◽  
pp. 203-208 ◽  
Author(s):  
Nathan J Doogan ◽  
Mary Ellen Wewers ◽  
Micah Berman
Keyword(s):  
State Level ◽  
Price Policy ◽  
Potential Effect ◽  
Cigarette Use ◽  
Level Data ◽  
The Us ◽  
Minimum Price ◽  
The Status ◽  
The Usa ◽  
The Impact

BackgroundIncreasing cigarette prices reduce cigarette use. The US Food and Drug Administration has the authority to regulate the sale and promotion—and therefore the price—of tobacco products.ObjectiveTo examine the potential effect of federal minimum price regulation on the sales of cigarettes in the USA.MethodWe used yearly state-level data from the Tax Burden on Tobacco and other sources to model per capita cigarette sales as a function of price. We used the fitted model to compare the status quo sales with counterfactual scenarios in which a federal minimum price was set. The minimum price scenarios ranged from $0 to $12.ResultsThe estimated price effect in our model was comparable with that found in the literature. Our counterfactual analyses suggested that the impact of a minimum price requirement could range from a minimal effect at the $4 level to a reduction of 5.7 billion packs sold per year and 10 million smokers at the $10 level.ConclusionA federal minimum price policy has the potential to greatly benefit tobacco control and public health by uniformly increasing the price of cigarettes and by eliminating many price-reducing strategies currently available to both sellers and consumers.

On the link between policy uncertainty and housing permits: asymmetric evidence from state-level data in the USA

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohsen Bahaman-Oskooee ◽  
Hesam Ghodsi ◽  
Muris Hadzic
Keyword(s):  
Error Correction ◽  
State Level ◽  
Policy Uncertainty ◽  
Content Type ◽  
Asymmetric Effects ◽  
Long Run ◽  
Ardl Approach ◽  
The Usa ◽  
Short Run ◽  
Error Correction Modeling

Purpose The purpose of this study is to assess the symmetric and asymmetric impact of a measure of policy uncertainty on house permits issued in each state of the USA. Design/methodology/approach To assess the symmetric effects, the authors use Pesaran et al.’s (2001) linear autoregressive distributed lag (ARDL) approach to error-correction modeling. To assess the asymmetric effects, they rely upon Shin et al.’s (2014) nonlinear ARDL approach to error-correction modeling. Both approaches have the advantage of producing short-run and long-run effects in one step. Findings The authors find short-run symmetric effects of policy uncertainty on house permits issued in 22 states that lasted into the long run in three states only. However, the numbers were much higher when they estimated the possibility of asymmetric effects of policy uncertainty. Indeed, they found short-run asymmetric effects in 38 states and long-run asymmetric effects in 18 states. Originality/value Some previous studies assessed the effects of a measure of policy uncertainty on house prices. In this paper, the authors extend the same analysis to the supply side of the housing market by assessing the effects of policy uncertainty on house permits in each state of the USA.

scholarly journals Journey of discovery: challenges of e-book lending in a digital world

2014 ◽  
Vol 42 (2/3) ◽  
pp. 51-56 ◽  
Author(s):  
Anne Xu ◽  
Margarita Moreno
Keyword(s):  
The United States ◽  
Interlibrary Loan ◽  
Content Type ◽  
Study Approach ◽  
Document Delivery ◽  
Digital World ◽  
Library Users ◽  
Original Presentation ◽  
The Usa ◽  
The Impact

Purpose – The purpose of this paper is to discuss the impact of e-books on interlibrary loan and document delivery practices based on the experience of the National Library use of e-resources and the analysis of different e-book lending models based on one of authors travels to the USA. Design/methodology/approach – The authors use a case study approach and their own experiences with e-resources. Findings – E-books are increasingly important to libraries, and there are different models for acquiring and providing access to them. Whilst document delivery is permitted, interlibrary lending is usually not. Interlibrary loan departments are encouraged to be part of the dialogue between libraries and publishers, to seek a middle ground that balances the needs of the authors/publishers and library users wherever they are. Originality/value – This paper will be of interest to anyone involved with collecting or providing access to e-books through their own collections or through interlibrary loan (ILL)/document delivery (DD). The contrast of different approaches to e-book access in Australia and the United States is instructive. This paper is based on the authors’ original presentation at the 13th Interlending & Document Supply Conference, October 16-18, 2013 in Beijing China.

Measuring the funding landscape of COVID-19 research

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sheikh Shueb ◽  
Sumeer Gul ◽  
Nahida Tun Nisa ◽  
Taseen Shabir ◽  
Shafiq Ur Rehman ◽  
...  
Keyword(s):  
Citation Impact ◽  
The United States ◽  
Collaboration Network ◽  
United States Department ◽  
Sponsored Research ◽  
Content Type ◽  
Funded Research ◽  
Funding Agencies ◽  
The Usa ◽  
The Impact

PurposeThe purpose of the study is to map the funding status of COVID-19 research. The various aspects, such as funding ratio, geographical distribution of funded articles, journals publishing funded research and institutions that sponsor the COVID-19 research are studied. To visualize the country collaboration network and research trends/hotspots in the field of COVID-19 funded research, keyword analysis is also performed. The open-access (OA) status of the funded research on COVID-19 is also discussed.Design/methodology/approachThe leading indexing and abstracting database, i.e. Web of Science (WoS), was used to retrieve the funded articles published on the topic COVID-19. The scientometric approach, more particularly “funding acknowledgment analysis (FAA),” was used to study the research funding.FindingsA total of 5,546 publications of varied nature have been published on COVID-19, of which 1,760 are funded, thus indicating a funding ratio of 32%. China is the leading producer of funded research (760, 43.182%) on COVID-19 followed by the USA (482, 27.386%), England (179, 10.17%), Italy (119, 6.761%), Germany (107, 6.08%) and Canada (107, 6.08%). China is also in lead in terms of the funding ratio (60.94%). However, the funding ratio of the USA (31.54%) is at 11th rank behind Canada (40.68%), Germany (34.18%) and England (35.87%). The USA occupies a central position in the collaboration network having the highest score of articles with other countries (n = 489), with the USA–China collaboration ranking first (n = 123). National Natural Science Foundation of China (NSFC) is the largest source of funding for COVID-19 research, supporting 342 (19.432%) publications, followed by the United States Department of Health Human Services (DHHS) and National Institute of Health (NIH), USA with 211 (11.989%) and 200 (11.364%) publications, respectively. However, China's National Key Research and Development Program achieves the highest citation impact (80.24) for its funded publications. Journal of Medical Virology, Science of the Total Environment and EuroSurveillance are the three most prolific journals publishing 63 (3.58%), 35 (1.989%) and 32 (1.818%), respectively, of the sponsored research articles on the COVID-19. A total of 3,138 institutions produce funded articles with Huazhong University of Science Technology and Wuhan University from China at the forefront publishing 92 (5.227%) and 83 (4.716%) publications, respectively. The funded research on COVID-19 is largely available in OA mode (1,674, 95.11%) and mainly through the Green and Bronze routes. The keyword clustering reveals that the articles mainly focus on the impact, structure and clinical characteristics of the virus.Research limitations/implicationsThe study's main limitation is that the results are based on the publications indexed by WoS, which has limited coverage compared to other databases. Moreover, all the funding agencies do not require or authors miss to acknowledge funding sources in their publications, which ultimately undermines the number of funded publications. The research publications on COVID-19 are also proliferating; thus, the study's findings shall be valid for a minimum period.Practical implicationsThe funding of research on the COVID-19 is highly essential to accelerate innovative research and help countries fight against the global pandemic. The study's findings reflect the efforts made by nations and institutions to remove the financial and accessibility hurdles. It not only underscores the lead of the USA in the research on COVID-19, but also shows China as a forerunner in sponsoring the research, thus, helping to know the contribution of nations toward understanding the dynamics of pandemic and controlling it. The study will help healthcare practitioners and policymakers recognize the areas that remain the focus of sponsored research on COVID-19 and other left-out areas that need to be taken up and thus may help in policy formulation. It further highlights the impact of prolific funding agencies so that efforts may be initiated to increase the impact and thereby the returns of investment. The study can help to map the scientific structure of COVID-19 through the lens of funded research and recognize core inclinations of its development. Overall, a comprehensive analysis has been performed to present the detailed characteristics of sponsored research on emerging area of COVID-19, and it is informative, useful and one of its kind on the theme.Originality/valueThe study explores the funding support of research on COVID-19 and its other aspects, along with the mode of availability.

The impact of personality on pay satisfaction among small business managers in the United States and China

2014 ◽  
Vol 9 (2) ◽  
pp. 123-132 ◽  
Author(s):  
Jonathan C. Shrader ◽  
Luke Singer
Keyword(s):  
Small Business ◽  
Design Methodology ◽  
The United States ◽  
Pay Satisfaction ◽  
Big Five Personality ◽  
Personality Test ◽  
Business Managers ◽  
Content Type ◽  
The Usa ◽  
The Impact

Purpose – The purpose of this paper is to analyze the effect personality has on pay satisfaction among small business managers in China and the USA. Design/methodology/approach – This research is in attempt to further understanding and provide application of how companies can better incentive talent through compensation and benefit programs. The goal is to extend and deepen the comprehension of how to encourage talent pools to increase intrinsic performance through compensation programs. Findings – The measures that were used in this study were the Big Five Personality Test and the Pay Satisfaction Questionnaire. Originality/value – Similar results were found across the two countries, and having primary empirical data such as these is original.

Does poverty lead to crime? Evidence from the United States of America

2018 ◽  
Vol 45 (10) ◽  
pp. 1424-1438 ◽  
Author(s):  
Mohammed Imran ◽  
Mosharrof Hosen ◽  
Mohammad Ashraful Ferdous Chowdhury
Keyword(s):  
Time Series Data ◽  
Property Crime ◽  
The United States ◽  
Economic Hardship ◽  
Series Data ◽  
Advanced Economy ◽  
Content Type ◽  
Long Run ◽  
The Usa ◽  
The Impact

Purpose Economic hardship and crime is always a debatable issue in the political economy literature. Some authors define poverty leads to crime some are completely opposite. The purpose of this paper is to find out the impact of poverty on crime in the USA. Design/methodology/approach Using time series data of USA over the period from 1965 to 2016, this study applies autoregressive distributed lag approach to identify the effect of poverty on crime. Findings The outcomes confirm a positive co-integrating relationship between poverty and property crime. It can be argued that poverty ultimately leads property crime in long run in the USA. However, unemployment and GDP exhibit neither long-run nor short-run relationship with property crime and they are not cointegrated for the calculated period. Research limitations/implications The subject of this paper helps to explain and analyze the nexus between poverty and crime in the USA. Practical implications Government and policymakers should focus more on poverty rather than unemployment alone to control property crime. Originality/value This study attempts to identify the consequences of economic hardship and poverty on the crime in the advanced economy like USA.

The impact of COVID-19 on police training academies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
David R. White ◽  
Joseph Schafer ◽  
Michael Kyle
Keyword(s):  
Online Survey ◽  
State Level ◽  
Police Training ◽  
Policy Implications ◽  
Future Research ◽  
Structured Interviews ◽  
Police Recruits ◽  
Content Type ◽  
The Usa ◽  
The Impact

PurposeThe purpose of this study is to explore the impacts coronavirus disease 2019 (COVID-19) had on US police academies’ production of police recruits.Design/methodology/approachThe study used a national online survey of police academy directors in the USA, followed by purposive, semi-structured interviews of select academy directors. A combination of quantitative and qualitative data is combined in a mixed methods approach.FindingsThe findings suggest that academies experienced a range of impacts related to COVID-19. These impacts lead to more questions concerning how academies and state-level governing boards responded not only to pandemic-related challenges, but also to their willingness to accept more online and alternative curriculum delivery strategies.Originality/valuePolice academies are a required step in the production of new police recruits in the USA, but researchers have paid little attention to how academies operate. While exploratory, this study provides some insights into how this aspect of policing weathered the COVID-19 pandemic, and offers suggestions for future research, as well as policy implications.

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