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Economics: Econometric Analysis
Economics: Econometric Analysis
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ItemA Study Analyzing the Impact of Unionization on State Wages(Georgia Institute of Technology, 2018-11) Mckenzie, Rhone ; Tinsley, Sarah ; Tsuchiya, Ellie ; School of Economics ; Ivan Allen College of Liberal ArtsThis study was motivated by existing literature on unions which attempt to understand and measure the impact of unionization on wages and the welfare of workers. Our analysis tries to further this research by exploring the effects unionization has on wages at the state level. Unionization, our main explanatory variable, is identified as the total union coverage by state in both the private and public sectors in all of our models. The explained variable in all of our models is mean hourly wages. Our results suggest that union coverage positively impacts wages. Furthermore, the size of the IT professional sector within a given state’s economy has the largest impact on hourly wages followed by union coverage and GDP.
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ItemThe Cross Country Effect of Patent Applications on Ease of Doing Business(Georgia Institute of Technology, 2022-11) Both, Dylan ; Mahadevan, Ashwin ; Yadlapalli, Sreya ; School of Economics ; Ivan Allen College of Liberal ArtsInnovation and technological progress have long played a critical role in the economic growth of countries. While this relationship has been studied many times, it is not clear exactly how patents play into this equation. We believe that patents have a direct relationship with innovation, and thus, business growth and progress. Therefore, we hypothesized that countries with a greater number of patent applications will have better ease of business scores as measured by the World Bank. To analyze this relationship, we have used World Bank data and created economical and statistical models to understand this crucial relationship to get a better sense of the role patents play in a country’s economy. Contrary to our original hypothesis, no evidence could be found to support a statistically significant effect of the number of patent applications in a country’s economy on that country’s ease of business score.
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ItemFactors Explaining Average Life Expectancy: An Examination Across Nations(Georgia Institute of Technology, 2017-12) Maity, Akansha ; Rhenman, Emelie ; Sanders, Elijah ; School of Economics ; Ivan Allen College of Liberal ArtsThis paper analyzes the health across several countries worldwide. Data was collected from the World Health Organization as well as the World Bank. The data sets collected contain variables for nation population, GNI per capita (PPP), poverty headcount ratio at $1.00, life expectancy at birth for males and females as well as the averages between the two, the expenditure on health per capita, the completion rate of secondary education, physicians per 1000 individuals as well as the number of hospital beds per 1000, and the adequacy of social protection (Social Security). Regressions on between these variables show whether or not the variables are correlated as well as what the degree of correlation. This regression will then give insight as to how strongly health is affected by the world’s varying societal factors. The motivation for seeking this information is that we are interested in how different elements affect the health of a population.
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ItemThe Effect of Education on Poverty(Georgia Institute of Technology, 2021-04) Bharit, Ekansh ; School of Economics ; Ivan Allen College of Liberal ArtsEveryone knows education as a keyway of gaining higher wages and escaping poverty. In this paper, I will be discussing the effect education has on poverty. I will specifically be looking at higher education, so the education variable is the percentage of people 25 years or older who have obtained a bachelor’s degree or higher. The poverty variable is the poverty rate in each state. The data that I am using is cross sectional data of the United States, collecting values from each state. Other explanatory variables that were used were cost of living index, unemployment rate, labor force participation rate, urban percentage of the population, and GDP per capita. Most of the data was collected from 2018 to 2020, except the urban percent of population variable which was collected in 2010. I first created a simple regression model estimating the ceteris paribus effect education has on poverty. I then went ahead and created other multiple regression models and used F-stats and t-stats to find the significance of my explanatory variables. Through this study, I was able to prove that there is a strong negative relationship between education and poverty.
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ItemVoting in the United States: How Socioeconomic Status Influenced Voter Turnout in the 2008 Presidential Election(Georgia Institute of Technology, 2019-11) Bell, Joshua ; Heil, Andrew ; Reynolds, Conner ; School of Economics ; Ivan Allen College of Liberal ArtsThe 2008 presidential election between Senators Barack Obama (D) and John McCain (R) occurred before the most severe economic recession since the great depression of the 1930s, and there is an abundance of evidence that shows economic status of voters during this period of time affected the voter turnout per state in this election. An example of this is the state GDP per capita within each individual state. The data collected in this study shows that, as state GDP per capita increases, the percent voter turnout for that state increases as well. The other variables studied included the number of students who enrolled in a degree granting institution in 2008, average state income tax, percent urban population, and state unemployment rate. However, it is not clear that these variables had significant effects on the percent voter turnout for each state in 2008.
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ItemExploring the Relationship Between Household Income and High School Graduation Rates in Georgia Counties(Georgia Institute of Technology, 2017-12) Allen, Ashley ; De Vierno, Ida ; Pourchet, Emilie ; School of Economics ; Ivan Allen College of Liberal ArtsTo better understand the factors that contributed to the rise in high school graduation rates between 2008 and 2015, this study explored the relationship between average household income and average four-year graduation rates for public high schools in Georgia counties in 2015. Additional economic factors including teacher salary, spending per pupil, local education revenue, maintenance and operation (M&O) tax, poverty rate and Gini index as well as social factors, including unemployment, class size, educational attainment and teen pregnancy rate were studied. Four ordinary least squares (OLS) models were generated to understand the impact of change in household income on high school graduation rates at all income levels and at the income extremes. Analysis of the results shows that household income is not statistically significant throughout the models for our full data set. When looking solely, at the upper and lower income brackets, household income is significant at the 5% level.
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ItemEstimation of the effect of Income Inequality on Human Development: A Cross Sectional Study(Georgia Institute of Technology, 2018-11) Parikh, Ishan ; Srinivasan, Vivek ; Patel, Jay ; School of Economics ; Ivan Allen College of Liberal ArtsThroughout history, there has been overwhelming evidence that high levels of economic inequality correlate with low levels of human development, measured by the human development index. Our group’s overall objective was to observe the effect of income inequality on human development levels by compiling Gini coefficient and Human Development Index statistics on 78 randomly selected countries from across the world. We ultimately found that the gini index predominantly has a strong positive relationship with the human development index ,but more so in developed countries than in developing nations. This is mainly due to the fact that globalization effects have not fully reached all of these countries’ populations; as a result, these populations are still transitioning out of abject poverty and therefore have low levels of economic inequality. In addition, after running additional variables, including urban population, pollution levels, GDP Growth, external debt to gdp ratio, and index of economic freedom, we find that there are differences in significance with these variables with respect to their impacts on human development levels.
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ItemThe Effect of National Healthcare Expenditure on Life Expectancy(Georgia Institute of Technology, 2014-04) Deshpande, Natasha ; Kumar, Anoosha ; Ramaswami, Rohini ; School of Economics ; Ivan Allen College of Liberal ArtsOur analysis seeks to examine whether or not there is a relationship between healthcare expenditure and national life expectancy in order to gain perspective on how to efficiently increase the quality of health in a state. In addition to healthcare expenditure, we also used percent government expenditure, concentration of doctors in an area, and literacy rate as independent variables. Our data shows that there is no significant correlation between healthcare spending and life expectancy in developing countries, but it does exist in developed countries. We speculate that in developing countries, it is not the quantity spent but the quality of expenditure that impacts healthcare. In developed countries, spending may be more efficient and thus more effective. However, our results alone are not evidence enough, and further research is recommended.
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ItemImpact of Educational Attainment on Crime in the United States: A Cross-Metropolitan Analysis(Georgia Institute of Technology, 2016-11) Gentry, Brian ; Mokkapati, Rishab ; Rampersad, Kiran ; School of Economics ; Ivan Allen College of Liberal ArtsThis study seeks to find a relationship between educational attainment of the population aged 18 years and older, and violent and property crime, in 342 metropolitan areas across the United States. While past studies have researched this relation, they have not done so on a metropolitan scale . Regression models were formed using 2015 data obtained from both the US Census Bureau and the Federal Bureau of Investigation (FBI) . The simple linear regression model found a negative relationship between educational attainment and crime. The more educated a metropolitan population is, the lower its crime levels. Multiple linear regression analyses found that this correlation holds even as other variables are added to the regression. Although this negative correlation is weak, it is still statistically significant.
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ItemThe Effects of Water Access on Government Health Care Spending Worldwide(Georgia Institute of Technology, 2014-12) Furman, Daniel ; Morjaria, Mala ; Roseen, Dillon ; School of Economics ; Ivan Allen College of Liberal ArtsWater access worldwide affects numerous areas of personal health. This paper attempts to analyze the effects that water access has on total government health care expenditure in different countries. By utilizing a cross-sectional analysis on data from over 80 countries, we provide a unique view of how lack of water access may burden health care. This paper grounds its hypothesis in Pareto economic welfare policy, which helps explain the relationship between these variables. In addition to water access, we utilized additional independent variables such as private health care spending and tobacco use and a dummy variable adjusting for differences in developed and non-developed countries. These variables enabled us to gain a holistic view of the effects of water access on health care spending. Our study is founded upon existing economic theory and is thus related to other empirical works. It is unique in the way in which health care spending is explained using distinct variables and data sets.