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Navigating occupational digitalization via skillshed analysis The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-03-21 G. Jason Jolley, Clara Bone, Hunter Bacot, Tuyen Pham
The rapid digitalization of jobs in the United States and globally provides both an economic opportunity and a challenge for upskilling and reskilling the workforce. Retraining and reintegrating displaced or at-risk workers, particularly in a competitive labor market, brings significant economic benefits to communities, employers, and employees. Individuals in at-risk or declining occupations likely
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Global cryptocurrency use, corruption, and the shadow economy: New insights into the underlying linkages The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-02-26 Aziz N. Berdiev, Rajeev K. Goel, James W. Saunoris
The recent prevalence of digital currencies has challenged policymakers as they try to control the supply of money and rein in clandestine activities. Corruption and shadow economy are widely prevalent illegal/unobserved activities that have been hard to eliminate worldwide. These longstanding and entrenched activities have possibly found a new avenue to thrive and evade detection/punishment. So disentangling
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Rent and Labor Exploitation Editor comments The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-02-24 Marty Rowland
CONFLICT OF INTEREST STATEMENT Marty Rowland hereby attests that he has no conflict of interest between himself and The American Journal of Economics and Sociology, or Wiley Publications concerning the publication of this original work.
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Agribusiness rent extraction The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-02-22 Antonio A. R. Ioris
The article discusses the political-economy of agribusiness, making use of the category of rent that is considered as a proportion of exchange value diverted from production for the payment to the landowners and, crucially, its class-based allies. Rent is therefore more than just the extraction of value from the use of land, but there is a wider, deeply politicised capture of value from the network
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Are skepticism and moderation dominating attitudes toward AI-based technologies? The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-02-24 Simona-Vasilica Oprea, Ionut Nica, Adela Bâra, Irina-Alexandra Georgescu
AI advancements are poised to substantially modify human abilities in the foreseeable future. They include the integration of Brain–Computer Interfaces (BCIs) to augment cognitive functions, the application of gene editing, and the utilization of AI-powered robotic exoskeletons to enhance physical strength. This study employs a comprehensive analytical framework combining factor analysis, clustering
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Who claims the federal adoption tax credit? Those who know about it The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-02-07 Cullen T. Wallace
This research investigates which individuals are aware of and claim the federal adoption tax credit. Using a probit model, I find that the probability that one claims the credit increases with one's income and is lower for Black adoptive parents compared to White ones. These discrepancies in usage stem from different probabilities of knowing about the credit. However, conditional on awareness, I find
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Impossible arrangements: The extreme challenge of child care for low-income mothers The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-01-24 Amanda Freeman
Arranging safe and secure child care is necessary for parents of dependent children to maintain their participation in the labor force. This article uncovered the extreme version of work–childcare conflict faced by low-income mothers. The constant, underlying threat of the loss of income and unsafe conditions for children influences child care and work, hindering their ability to move out of poverty
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Capitals as bad equilibria The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-01-24 Ådne Meling
Throughout the recent pandemic, governments used digital video technologies to facilitate social distancing during political meetings. In addition to enabling social distancing, a theoretical advantage of virtual political governance is that it has the potential to mitigate the hierarchical administrative relationship between capitals and regions and the differences in real estate prices and wealth
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Corporate investors and the housing affordability crisis: Having wall street as your landlord The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-01-08 Carol Camp Yeakey
Given the importance of housing affordability to one's social class standing, one's ability to afford decent, secure housing is not only important on an individual level, but impacts intergenerational im/mobility as well. The purpose of this research is threefold. First, it examines the recent trend in bulk housing purchases by corporate investors who turn those purchases into single family rental
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Gig workers in precarious life: The trajectory of exploitation, insecurity, and resistance The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2024-01-08 Ajeet Kumar Pankaj, Manish K. Jha
The growing informal nature of employment in the gig economy does not only merely provide employment for many but also causes exploitation, insecurity, and exclusion from social security because of its informal status. Workers in gig work often go through long working hours, low wages, fear of losing their job, and insecurity which result in their precarious life condition. They experience vulnerabilities
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The exploitation of women: Narrative of oppressed women in movies The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-12-24 Iftekhar Alam, Seetha Lakshmi
The status of women in Indian society has been paradoxical emanating from a deeply embedded socially construed gender-based exploitation owing to historical and sociological reasons. Moreover, the intersectionality of gender and caste has made them one of the marginalized social groups who experience discrimination, exclusion, and exploitation. Plethora of Bollywood movies, and regional cinema narrate
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Workforce automation risks across race and gender in the United States The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-11-22 Ian P. McManus
Although the effects of automation on the future of work have received considerable attention, little research has been conducted on the costs of this technological transformation for different populations of workers. This article makes an important contribution as one of the first to analyze the intersectional effects of workforce automation across race and gender in the United States. Multilevel
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Economic equity and people with disabilities: Development and characterization of a novel index The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-11-10 Bhavneet Walia, Katherine McDonald, Joy Hammel, Lex Frieden, Michael Morris, Barry Whaley, Vinh Nguyen
Here, we develop two new social indices: the ADA PARC Absolute Economic Opportunity Index and the ADA PARC Relative Economic Opportunity Index. These indices allow us novel examinations of economic equity between people with and without disabilities within a U.S. state and between people with disabilities in different states using aggregations of multiple component economic indicators. These represent
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From indirect to direct rule? Transnational policy planning bodies and global governance in the COVID crisis The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-11-08 Kees van der Pijl
The origins of contemporary supra-national power go back to the second British Empire, which, unlike the first, faced organized labor as a potential revolutionary force. The formation of the Rhodes–Milner Group was meant to better manage the formation of the public mood, and the Boer War in South Africa demanded close integration of imperial affairs. A central figure in the Rhodes–Milner Group, Lord
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From Superman to Swordquest: Atari and early video game labor exploitation The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-11-06 James Fleury
Unionization efforts have only recently begun to address the exploitative conditions of working in video games. Despite such conditions dating back to the industry's origins, scholarship has tended to focus on contemporary labor issues over those of the past. To illustrate early forms of video game exploitation, I examine the history of industry pioneer Atari under the ownership of media conglomerate
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Hollowing out of middle-pay jobs in Ohio: An exploratory analysis The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-10-23 Tuyen Pham, Christelle Khalaf, G. Jason Jolley, Douglas Eric Belleville
Hollowing out is a term that refers to the decline in the share of middle-pay and middle-skilled jobs relative to low-pay and high-pay jobs. This study employs county-level occupational data at the place of employment to document hollowing out of middle-pay jobs across regions in Ohio. The county-level data with occupational information allow us to study how regions' economic heterogeneity contributes
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Asymmetric information and capital mobility in antebellum America The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-10-12 Donald F. Vitaliano
The New York legislature granted charters to 28 new banks in 1829. Over $5 million in capital was subscribed by 1745 individuals or entities. The average distance between investor and bank is less than 40 miles, and the average number of investors is 75 per bank, with ownership and control closely aligned. A gravity model fixed effects regression is estimated. Insiders, such as public officials and
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Who will guard over the guardians? The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-10-11 Alfred de Zayas
Human rights have been weaponized and transformed into geopolitical tools to target certain states and not others. The rhetoric of human rights has been distorted by politicians, media, think tanks and the emerging “human rights industry” that serves hegemonic powers and not humanity. This constitutes an affront against human dignity.
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Prediction markets as meta-episteme: Artificial intelligence, forecasting tournaments, prediction markets, and economic growth The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-10-03 Ryan H. Murphy
This paper presents a speculative framework suggesting that prediction markets (or its epistemic cousins such as artificial intelligence or forecasting tournaments) may constitute a break in the expansion of human knowledge in a manner similar to the impact of the Scientific and Industrial Revolutions. Just as the scientific understanding of the natural world facilitated the development of useful technologies
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The Catholic Church's point of view on priority of labor over capital The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-09-21 Elio Gasda
In the 19th century, the Industrial Revolution transformed Western civilization in dramatic ways. Simultaneously, the market economy converted human labor into “merchandise”. Also in the 19th century, the reality of workers forced Pope Leo XIII to publish Rerum Novarum, the first encyclical of the Catholic Church's social doctrine. In 1981, Pope John Paul II, in Laborem Exercens, will affirm that the
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Trust, lies, and inequality The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-08-31 Ninghua Du, Shan Gui, Daniel Houser
The effect of endowment equality on trust may stem from outcome inequality aversion or changes in expected trustworthiness. Here, we measure trust as the expectation of honesty in a sender-receiver game, where participants must make trust decisions without knowing the outcome. Our design enables us to isolate the effect of initial endowment inequality on trust. Our results show that endowment inequality
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Plausibility, not science, has dominated public discussions of the COVID pandemic The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-08-25 Harvey A. Risch
COVID-19 put to the test the understanding of the meaning of “science” by the medical profession, the media, and the public. Unfortunately, the vast majority of individuals were misled by those who spoke on behalf of science but who confused plausible stories with scientific explanation. Scientific understanding comes from theories, which generate hypotheses, which are, in turn, confirmed or disconfirmed
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Research on the impact of digital infrastructure on the allocation efficiency of green resources in the service industry The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-08-11 Yaru Pan, Mu-Yang Yang
Digital infrastructure considers the advantages of traditional infrastructure and high-tech information technology and can optimize the allocation of green resources in the service industry to a large extent. Based on the calculation of the level of digital infrastructure in 30 provinces and cities in China from 2011 to 2020, this study analyzes the impact of digital infrastructure on the resource
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9/11, the power elite, and the U.S. think tanks that plan the future The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-08-08 Ray McGinnis
Four think tanks with close ties to the highest levels of government have shaped American foreign policy for decades. They are the Council on Foreign Relations, the RAND Corporation, the Bilderberg Group, and the Trilateral Commission. With direct ties to government officials who have engaged in various covert operations, these organizations provide a space within which advocates of global control
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How the World Economic Forum damages the credibility of climate science The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-31 Elizabeth Woodworth
The World Economic Forum (WEF) was established in 1971 with the nominal purpose of bringing together leaders to discuss global problems. However, it is well on its way to becoming the most powerful institution in the world, merely by setting forth an agenda for global management that is attractive to many political and business leaders. Two of the central issues on which the WEF has focused are climate
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Pandemic preparedness and the road to international fascism The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-30 David Bell
The World Health Organization's broad definition of health embraces physical, mental and social well-being. Expressed in its 1946 constitution alongside concepts of community participation and national sovereignty, it reflected an understanding of a world emerging from centuries of colonialist oppression and the public health industry's shameful facilitation of fascism. Health policy would be people-centered
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The impact of new prison construction on the likelihood of incarceration The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-27 Daniel D. Bonneau, Joshua C. Hall
Prison overcrowding is a major public policy issue with roughly 2.2 million individuals currently incarcerated in the United States. In the absence of reductions in the prison population, the only way to address overcrowding are the expansion of current facilities or the construction of new prisons. Previous research has demonstrated that factors unrelated to the law can affect the decisions made by
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How hotel firm value fluctuates with alternative leveraging strategies The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-27 Ying Chen, Eric Valenzuela, Don Capener
This study empirically examines the impact of leverage and capital structure on firm value for the US hotel industry from 1991 to 2017. We find strong evidence that leverage positively relates to firm value for firms in the hotel industry. This relationship is most robust for hotel firms with low financial health, consistent with the theory that firms signal positive information through capital structure
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The corrupt politics of chemical weapons The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-27 Piers Robinson
The Organisation for the Prohibition of Chemical Weapons (OPCW) is a significant component of the global governance structure and considered a gold standard international body with 193 member states and scientific divisions expected to adhere rigorously to objectivity and political neutrality. However, OPCW's reputation has recently been tarnished. Dissenting scientists from within the organization
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Stratification economics in the land of persistent inequalities The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-07-17 Luis Monroy-Gómez-Franco, Paloma Villagómez-Ornelas
Stratification economics has emerged as a field that puts historically and institutionally determined intergroup hierarchies at the forefront of distributive analysis. However, most of the existing theoretical and empirical literature has focused on studying the US stratification regime, limiting the potential application of this analytical framework to other geographies. This paper applies the theoretical
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The effects of infant daycare on later-in-life employment outcomes The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-06-22 David M. Zimmer
This paper first develops a theoretical model of the returns to daycare, which attempts to show that families enroll their children into daycare based on its expected benefits and costs. The paper then moves to an empirical study that seeks to determine whether enrolling an infant in daycare affects his or her later-in-life employment and poverty status. To identify the causal effect of interest, the
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An exploratory study of the impact of tax freedom on geographic living-cost differentials The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-06-20 Richard J. Cebula, Christopher M. Duquette, G. Jason Jolley
In the United States, there exist enormous geographic differentials in the cost of living. A sound, basic understanding of factors that influence such geographic living-cost differentials is important to help formulate useful policies to address various contemporary economic and social problems such as public-school funding across counties. In this exploratory study of the effects of tax freedom on
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Avoidable hospital admissions depend on the primary healthcare governance model? A global health perspective from Europe countries The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-06-02 João Paulo Magalhães, Joana Pestana, Renato Lourenço Silva, António Pereira, André Biscaia
Primary healthcare (PHC) governance model, namely its financing scheme, might impact the health outcomes, particularly in chronic conditions, through avoidable hospital admissions (AvH). Therefore, the study aims to assess how the PHC financial governance model determines AvH, as well as how this interacts with the health system financing (HSF) scheme. An observational study comparing the GP employment
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Loan packaging decisions for beginning African American and other socially disadvantaged farmers The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-29 Cesar L. Escalante, Penghui Gao, William Secor
This study presents evidence on the relative accommodation of credit requests made by minority start-up entrepreneurs in the U.S. farm sector. Loan packaging terms (amount, interest rate, and maturity) prescribed by lending officers of the Farm Service Agency, the government's lending arm to the farm sector, are analyzed and compared across racial/ethnic and gender groups of borrowers. The intention
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The economic disparity between Hispanic and non-Hispanic White households: An analysis of middle-class achievement The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-24 Hua Zan, Jessie X. Fan, Benvin Lozada
We utilize data from the 2010–2019 Consumer Expenditure Surveys to examine middle-class achievement of English-speaking and non-English-speaking Hispanic households compared to non-Hispanic white households in the United States. Using an innovative expenditure-based middle-class measure, our findings show that non-English-speaking Hispanics lag English-speaking Hispanics, and English-speaking Hispanics
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Enhancing economic freedom via school choice and competition: Have state laws been enabling enough to generate broad-based effects? The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-16 John Garen
An aspect of economic freedom that varies across U.S. states is K-12 educational freedom. Some states allow a degree of choice for families in selecting schools outside public schools for their children. However, the enabling laws for such programs are often quite restrictive and limited to few children. Can this limited degree of competition and choice have a noticeable effect on an entire state's
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When forgiveness beats permission: Exploring the scholarly ethos of clinical faculty in economics The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-13 Franklin G. Mixon, Kamal P. Upadhyaya
The concept of the “clinical professor” – sometimes referred to as a “professor of practice,” or something similar – is in widespread use in academe. Economics and business disciplines all now entertain the prospect of teaching specialists. This study extends prior research on economics scholarship at liberal arts colleges by examining whether clinical economics faculty are invested in a program of
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Free market economy: Is the market or prices free? Theory and evidence from the United States The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-11 Rıdvan Karacan, Mehmet Emin Yardımcı
Global price increases have reached their highest levels in recent times. Finding the reasons for the price increase is very important for economic stabilization. In this paper, it has been estimated that exorbitant price increases may be related to a free market economy. For this purpose, unlike other studies, a comparative analysis of the impact of the free market economy on prices was conducted
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US state-level economic freedom during the COVID-19 pandemic The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-05-05 Vincent J. Miozzi, Benjamin Powell
The COVID-19 pandemic led to extensive new government regulations and lockdown policies that significantly reduced economic freedom across US states. Many of these new pandemic-related regulatory restrictions on economic freedom varied significantly from state to state but are largely missed by the existing Economic Freedom of North America Report (EFNA). This paper adjusts the Our World in Data COVID-19
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The association between marital locus of control and break-up intentions The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-04-26 David Boto-García, Federico Perali
Understanding couple instability is a topic of social and economic relevance. This paper investigates how the risk of dissolution relates to efforts to solve disagreements. We study whether marital locus of control (a noncognitive trait that captures individual's perception of control over problems within the couple) is associated with the prevalence of relationship instability in the past. We implement
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Just-below pricing in real estate: Impact by price segment and market conditions The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-04-05 Jason Beck, Lindsay Levine, Michael Toma
Most prior studies of just-below pricing have primarily focused on low-stakes inconsequential consumer purchases, such as everyday household items. Using data from the Multiple Listing Service for the city of Savannah, Georgia, from 2006 through 2021, this study extends the more limited research on just-below pricing for more consequential purchases, specifically housing. Beyond an examination into
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Stochastic convergence analysis of US state economic freedom sub-components: Evidence from unit root tests for bounded processes The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-03-26 James E. Payne, James W. Saunoris, Saban Nazlioglu, Cagin Karul
This study tests for convergence of the three main sub-components of economic freedom (government spending, taxation, and labor market freedom) for the 50 US states from 1981 to 2019. In particular, we test for stochastic convergence using unit root tests that account for structural breaks and bounded processes. By controlling for these sources of parameter instability, we find limited evidence in
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Economic freedom and one-way truck rental prices: An empirical note The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-03-20 Alexander Cardazzi, Robert A. Lawson
This study examines the one-way truck rental prices for 378 cities. There are large price differentials in one-way rental prices between city pairs. The pull of people toward higher economic freedom locales and push away from lower economic freedom locales is found to be an important determinant of the city-pair price differentials.
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Religion as a social determinant of women's cancer screening: Evidence from state level data for policy and resource allocation The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-03-16 Simon K. Medcalfe, Catherine P. Slade, Wendy Habegger
Religion as a Social Determinant of Health (SDOH) is established in relevant literature. The challenge is to translate the theoretical and empirical relationship between religion and health to practical applications and policymaking to build partnerships between state government entities and faith-based organizations. Our manuscript focuses on the connection between adherence to religion and the pernicious
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After the economic crisis of 2008: Economic conditions and crime in the last decade for the case of Spain The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-03-13 Jonathan Torres-Tellez, Alberto Montero Soler
The economic approach to crime confirms that the deterioration of economic conditions influences the motivation of potential offenders to commit a crime or not. The relationship between crime and the economy status received considerable attention among the international literature. However, in Spain, there are just few studies that analyse this connection, and those that analyse the influence of the
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The impact of higher rent levels on private health insurance enrollment: An exploratory analysis for a single state, Virginia The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-03-07 Richard J. Cebula, Zachary Ehrlich, Maggie Foley
This exploratory empirical study proffers and empirically examines the following two hypotheses: the higher the monthly rent levels being charged for apartments, the lower the percent of the population age 18 years to age 65 that opts to obtain private (whether group or individual) health insurance: and the greater the percentage growth rate of median household income, the greater the growth in the
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Using input–output models to estimate sectoral effects of carbon tax policy: Applications of the NGFS scenarios The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-02-20 David Kay, G. Jason Jolley
The Network of Central Banks and Supervisors for Greening the Financial System (NGFS) has engaged in scenario analysis that estimates a $200/ton carbon tax would be required to transition to net zero carbon by 2050. Using a $200/ton carbon tax as a base, this paper uses input–output (IO) modeling to generate price and revenue effects of a carbon tax. Results from these models, which can only be interpreted
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Valuation effects of earnings management on hotel firm value The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-02-14 Ying Chen, Don Capener, Eric Valenzuela
This study investigates the valuation effects of earnings quality on a hotel’s firm value between 1991 and 2017. A unique perspective from the financial crisis period is utilized to explore the changes further when hotel firms face financial distress. We adopt the ordinary least squares (OLS) regression method in this study. Generalized Least Squares (GLS) regression and Petersen’s Clustered Standard
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Rent control according to Seinfeld The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-02-14 Shane Sanders, Andrew Luccasen, Abhinav Alakshendra
More than 30 years after its premiere, Seinfeld continues its run as a seminally popular television show. On October 1, 2021, five-year streaming rights to the show were purchased by Netflix for $500 million. Set in New York City, where rent control laws have a long history, several episodes of the show consider the trials of apartment living, including shortages, tastes for discrimination by sellers
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Economic freedom at metropolitan statistical area borders The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-01-19 Ryan H. Murphy, Ellen Taylor, Dean Stansel
This paper applies a variation on differences-in-differences to the effects of economic freedom in matched bordering metropolitan statistical areas using the Metropolitan Economic Freedom Index. While a great deal of research has explored the relationship between economic freedom and economic performance, less has been done at the local level. We find that economic freedom has a positive effect on
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An economic offer they cannot refuse! Economic expectations on incumbent government support in Core and periphery European countries The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-01-15 Andreea Stancea, Aurelian Muntean
The importance of economic conditions on election outcomes is well established. This paper supplements the standard approach to economic voting by assessing government support from a highly debated perspective of European spaces: Core countries and Periphery countries (Central Eastern European and Southern countries). The paper reveals that the economic conditions perceived by voters in the future
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SPACs: An overview and assessment of returns The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-01-10 James R. Barth, Min Gu, Jiachen Liu
Special purpose acquisition companies (SPACs) originated in the 1980s. A SPAC is a shell company formed by a sponsor to raise capital through a SPAC IPO to acquire or merge with an existing (target) private company. In a SPAC IPO, the units issued, consisting of (1) shares of common stock and (2) warrants, are typically priced at a nominal $10. Until 2022, SPAC IPOs were an increasingly popular alternative
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On the monetary policy in an economy with banks endogenously creating money The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2023-01-04 X. Henry Wang, Bill Yang, Alex Young
This paper attempts to employ a microeconomic model (industrial-organization approach to banking) to formalize the concept that banks in an economy may also unilaterally create money, at least initially, rather than passively multiplying the base money exogenously issued by the Central Bank in the money creation process. It shows that in equilibrium, banks may indeed create money (bank deposits) when
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What are the determinants of financial well-being? A Bayesian LASSO approach The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-12-12 Donald J. Lacombe, Nasima Khatun
The financial well-being (FWB) of individuals is a topic that is becoming increasingly important across a multitude of disciplines. In this study, we use the 2016 National Financial Well-Being Survey administered by the Consumer Financial Protection Bureau to assess the determinants of an individual's FWB. We identify 144 potential covariates that could explain variation in the FWB score of individuals
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Measuring a contract's breadth: A text analysis The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-12-12 Bryan McCannon, Joshua Hall, Yang Zhou
We use a computational linguistic algorithm to measure the topics covered in teacher contracts. Topic modeling metrics are used to assess a contract's expansiveness. Our topic, diversity measurement, is then related to the prevalence of support staff. If more specialized services are provided, then contracts should be broader as they cover more employment relationships. We confirm a strong, statistically
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Using the LSAT as a labor market thermometer for lawyers The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-12-12 James V. Koch, Barbara Blake-Gonzalez
We rely upon a 50-state, 20-year panel to find that the number of Law School Admissions Test (LSAT) takers is only loosely related to economic conditions—although slightly more for men than for women, who in 2020 accounted for 58% of all LSAT takers. The number of test takers rose more than 35% between 2014 and 2020. This wave accentuated an already existing downtrend in the median real income of lawyers
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Is there convergence amongst shadow economies? International evidence The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-12-08 Camila Henriquez Mora, James W. Saunoris
This paper examines convergence among cross-country shadow economies. Using the Phillips-Sul (2007, 2009) club convergence approach and data for over 150 countries from 1991 to 2017, the results show evidence against absolute convergence for all shadow economies; however, we find evidence of multiple convergence clubs. In particular, we find evidence for seven distinct convergence clubs and six divergent
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Why the War on Cancer Failed The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-10-27 Ignacio Castuera
In 1971, President Nixon launched the “war on cancer” with great fanfare. The dramatic increase in spending on targeted cancer research was supposed to quickly yield new treatments. That did not happen. The cancer establishment, which profits from the $200 billion spent annually on cancer treatment, has never provided an adequate accounting of how more spending translates into lives saved. In fact
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Whistleblower: How One Man Tried to Stop a Famous Cancer Center from Suppressing an Effective Treatment The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-10-27 Ignacio Castuera
While working at Sloan Kettering Institute (SKI) in the 1970s, Ralph Moss discovered that the top research scientist there was impressed with the anti-cancer properties of amygdalin, the synthetic form of which is laetrile. At that time, laetrile was a topic of national interest as a low-cost way of treating cancer. It would have been big news if SKI announced that laetrile was effective in animal
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When Will the FDA Do What Is in People’s Best Interests? The American Journal of Economics and Sociology (IF 1.103) Pub Date : 2022-10-27 Alfred B. Ordman
The national effort to reduce the incidence and severity of cancer and other chronic diseases in the United States has suffered from political influences that undermine the interests of the public. As one example, the medical profession has not made adequate use of nutritional information to improve the health of the population. Daily values for vitamins were established in the United States during