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Economics: Econometric Analysis

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Relationship between Income and Cost of Living in US Cities

2022-11 , Surani, Aamir , Young, John Michael

This paper examines the relationship between the cost of living and median household income. The hypothesis is that there is a positive correlation between the two variables, where the median income is higher in areas with a higher cost of living. Variables such as water, electricity, energy, and rent were utilized in order to obtain a well-rounded cost of living factor and then compared to the median household income. Evidence suggests this hypothesis to a certain extent. While there is a positive correlation, the increases are not simultaneous.

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The Impact of Education on GDP per Capita

2022-11 , Weatherly, Helena , Lopez, Kendy , Tierra, Carol

Education plays an important role in a country’s economic growth. This paper looks at the impact of education on the gdp per capita of different countries across the globe. The data comes from the World Bank and from the Barro and Lee database for the year of 2015. We took the average of total years of schooling to determine how the quantity of education affects GDP per capita. First, we look only at the relationship of education and GDP per capita on a simple regression model. We then add other factors such as the unemployment rate, foreign direct investment, gross savings, and manufacturing to see how they also affect GDP per capita across these countries. Our models found a significant relationship between years of total education and GDP per capita.

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The Analysis of the Effect of Women's Employment Rate on Fertility Across States in United States

2022-11 , Liu, Ai , Quan, Zhanchu , Wang, Ruling

This paper utilizes the approach of cross-sectional data to analyze the effect of women's employment rate on fertility across states in the United States. In recent years, there is a decline in women's fertility rates in the United States. Considering the economic consequences of a declining fertility rate, this paper aims to specifically analyze and quantify the causes of the low fertility rate. We will primarily look into women's employment rate while also taking into consideration other factors such as household income, related children of the householder, personal health care expenditures, and women's educational level.

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The SAT Anomaly: Does Average Class Size Impact Average SAT Score?

2022-11 , Lyle, Robert II , Kitchens, Christopher , Griffin, Kylie

Because the SAT has the potential to set the trajectory of students’ educational careers, the SAT is arguably the most important examination for most American high-schoolers. Considering the importance of the SAT examination, we sought to examine whether there is a relationship between average SAT scores with average high school class size per public school district. Using Georgia county-level data, our findings indicate that there is a minute and statistically insignificant correlation between average class size and average SAT score. Our results do show, however, that other variables such as median household income, average expenditure per pupil, and average educational attainment do have statistically significant correlations with average SAT score.

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Exploring the Relationship Between Commute Times and Property Value

2022-11 , Eichner, Samuel

This analysis seeks to determine a correlation between home property values and commuting times in the United States. Different methods of transportation are considered both independently and combined. Factors such as age of homeowner and number of bedrooms are used for control. The dataset is very large, so the models have high levels of confidence despite a loose fit. Both linear and quadratic models are tested to varying degrees of success.

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The Cross Country Effect of Patent Applications on Ease of Doing Business

2022-11 , Both, Dylan , Mahadevan, Ashwin , Yadlapalli, Sreya

Innovation 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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Factors Determining 2001 Standardized Elementary Level Reading Scores in Michigan

2022-11 , Moss, Charles

Elementary level reading comprehension is an essential skill which students need in order to excel in secondary school as well as undergraduate level language courses. Using a dataset from 4th grade standardized reading scores from Michigan in 2001, and controlling for district and local level effects, we find that standardized reading score pass rates per school are dependent on standardized math score rates as well as the rate of students who are receiving free lunch passes. Reading and math scores are highly correlated and can be used to roughly estimate the other.

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The Cross-Country Effects of Education Level on Savings Rate

2022-11 , Madrigal, Rodrigo , Murphy, Casey

This analysis attempts to find the relationship between the education level of the people of a country and the savings rate of the people in a country at the global scale. Previous research has found there to be a positive relationship between education levels and savings rates both across the US and across countries. This study uses both simple and multiple linear regression models to analyze and find the relationship between the two variables to see if those past studies hold up with modern data. Results were mixed as in the simple regression model education was very significant and positive, but in the multiple regression models education became negative when income was considered. There was special consideration as to whether a country was considered developed or developing.

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Family Size and Mortgage Loan Amounts

2022-11 , Calhoun, Rylee , Xia, Maggie

This paper seeks to uncover potential mortgage loan discrimination related to family size for Boston mortgage loan applicants in 1989. We utilize mortgage loan amounts as the primary dependent variable and an applicant’s number of dependents as the primary independent variable to explore this relationship. The dataset analyzed in this paper, loanapp, comes from Dr. Jeffrey Wooldridge’s introductory econometric data repository that records data from the 1989 Boston Federal Reserve Bank’s study of the Boston metropolitan area’s mortgage practices. After implementing multiple regression models, we find no evidence of statistical discrimination concerning family size, suggestive by the insignificance of our primary independent variable, dep, in regression analysis. Specifically, we find that a single increase in an applicant’s number of dependents raises mortgage loan amounts by about 0.381% overall and raises loan amounts by 0.137% for applicants who have at least one dependent. Ultimately, we reject our null hypothesis that increases in family size negatively influence mortgage loan amounts.

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Child Mortality & Health Expenditure: A Cross-Country Analysis

2022-11 , Iliev, Kamen , Patel, Manav

This paper attempts to analyze the effect healthcare expenditure has on child mortality rates. Despite research already being done in this field, child mortality continues to be a problem in the global economy. While the type of relationship between healthcare and child mortality is generally agreed upon in modern economics, the exact change we would expect to see in child mortality from a change in healthcare expenditure is still unknown. Our paper provides further evidence towards what sort of impact we might see by looking at the relationship of these two variables in 105 different countries.

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