BLOG: One Solution to Two Problems: Solving Federal Debt and the Climate Problem through a Human-Oriented Carbon Tax

By Shreyansh Budhia, The George Washington University

Carbon taxes, or the taxation of greenhouse gas emissions, have been touted as a solution to rein in both climate change and the ballooning U.S. national debt. Carbon tax proposals also maintain many free market principles and have found support even among some fiscal conservatives. Continue reading BLOG: One Solution to Two Problems: Solving Federal Debt and the Climate Problem through a Human-Oriented Carbon Tax

BLOG: Three Gap Analysis of Macroeconomic Consistency: A Case Study of the Ecuadorian Economy

By Juan Andres Mesias, The George Washington University

This paper studies the macroeconomic consistency of the Ecuadorian economy from 2007- 2016. Initially, the paper develops a Three-Gap Model to carry out a basic consistency check on all three macroeconomic accounts, public, private and current accounts. Continue reading BLOG: Three Gap Analysis of Macroeconomic Consistency: A Case Study of the Ecuadorian Economy

BLOG: Northern Rock: The Forgotten Harbinger of the Global Financial Crisis

By Bishoy Megalla, Yale University

During the early days of 2007, Northern Rock stood as the fifth-largest bank in the United Kingdom by mortgage assets; with £113.5 billion in assets, the bank had grown tremendously from its origins in the twentieth century as a simple building society. Continue reading BLOG: Northern Rock: The Forgotten Harbinger of the Global Financial Crisis

BLOG: How Price and Non-Price Incentives Affect California Water Demand

By Christopher Deranian, University of Maryland, College Park

Over the past two decades, drought conditions in California have repeatedly threatened freshwater security in the state. Since Governor Jerry Brown declared a state of emergency in 2014, a variety of policies have been enacted to promote water conservation. Continue reading BLOG: How Price and Non-Price Incentives Affect California Water Demand

BLOG: The Growing Foreign Investment and Trade Activity of China: Analyzing the Shifting Economic and Political Structure in ASEAN

By Jingxuan Wang, George Washington University

Given that the United States and China are competing for greater economic and political influence in Southeast Asia, this paper addresses the question of whether the United States and China can significantly influence the political activity of countries in 10 countries in Southeast Asia (ASEAN) through the use of economic means. Continue reading BLOG: The Growing Foreign Investment and Trade Activity of China: Analyzing the Shifting Economic and Political Structure in ASEAN

BLOG: The Impact of Minimum Wage Implementation on Women’s Earnings: Evidence from Malaysia

By May Lyn Cheah, University of California, Berkeley

This paper investigates the effect of the introduction of minimum wage legislation in Malaysia, which became effective from January 1, 2013 for employers with six employees or more, and was fully enforced by January 1, 2014 for all employers. The minimum wage ruling prescribed a rate of RM900 (ŨSD 230) per month for Peninsula Malaysia and RM800 (ŨSD 204) for Sabah, Sarawak and Wilayah Persekutuan Labuan. Continue reading BLOG: The Impact of Minimum Wage Implementation on Women’s Earnings: Evidence from Malaysia

BLOG: Employment Effects of Minimum Wage Increases – A Matched Pairs Design Using US Data

By Eric Karsten, Chong An Ong, Immanuel Adriana Rakshana, and Arushi Saksena, University of Chicago 

The minimum wage is a contentious issue, with proponents arguing that it is required to protect the wage security of low-income earners, and opponents arguing that it places downwards pressure on employment in the labor market. Our paper uses a differences in differences regression model, similar to the one used in Card & Krueger(1993) to estimate the unemployment effects of a minimum wage increase. Continue reading BLOG: Employment Effects of Minimum Wage Increases – A Matched Pairs Design Using US Data

BLOG: Market Distorting Moral Hazard of Dodd-Frank’s Title II: The Costs of Inefficient Capital Markets

By Charles LeSueur, Vassar College

The purpose of this paper is to analyze whether Title II of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) effectively fulfills the stated goals of ending “too big to fail”, “no more taxpayer-funded bailouts”, and decreasing systemic risk.  I argue that Title II institutionalized taxpayer-funded bailouts under different language and increased systemic risk … Continue reading BLOG: Market Distorting Moral Hazard of Dodd-Frank’s Title II: The Costs of Inefficient Capital Markets