Browsing by Author "Lambie-Hanson, Timothy"

Now showing 1 - 20 of 21
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    An Empirical Analysis of the Impact of Broadband Access on the U.S. Multichannel Video Programming Distribution Market
    (2016) Corbin, Matthew K.; Lambie-Hanson, Timothy
    Capital investments made by incumbent cable, telecommunications, and satellite firms—together, multichannel video programming distributors (MVPDs)—in broadband technologies over recent years have improved Internet connection availability and speed. Access to broadband download speeds of 25 Mbps or greater allow for online streaming of Ultra HD video programming, which is of comparable quality to traditional Pay TV content. Utilizing geo-spatial variation in broadband download speed access across the United States, I test the effects of broadband access at Ultra HD capable speeds on the penetration rates and subscriber growth rates of MVPD Pay TV providers. The analysis produces inconclusive results, finding there to be insufficient evidence that access to higher broadband speeds has a negative effect on MVPD penetration rates and subscriber growth rates. Noteworthy differentiation in generational preferences for Pay TV subscribership is evidenced, warranting the need for further empirical research on the substitutability of quality online video programming on traditional Pay TV.
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    An Examination of the Cross-Price Effects of Alcohol and Cigarettes
    (2015) Schnall, Jill; Lambie-Hanson, Timothy
    My thesis analyzes the cross-price effects of alcohol and cigarettes on different subpopulations. Specifically, I use a linear probability model to look at the change in the probability that a person drinks, smokes, drinks excessively and drinks moderately in response to a change in the price of beer, wine, and cigarettes. I also use OLS regression to look at the change in the average number of drinks per drinking occasion and the average number of drinks per month in response to a change in the price of beer, wine, and cigarettes. Results suggest that beer is a complement to cigarettes, whereas cigarettes are a substitute for alcohol. Additionally, I find that wine is a substitute for cigarettes.
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    Automation in a New Age: The Effects of Technological Advancement on Labor Market Outcomes for Low-and High-Skill Labor
    (2020) Montoya, Cayley; Lambie-Hanson, Timothy
    The notion that technology replaces and lowers the wage of low-skill labor, while increasing employment and wages for high-skill labor, may be an outdated outlook on the effects of automation. Over the past couple of years, technological advancements have enabled more advanced tasks to be automated, posing a greater threat to high-skill labor. To measure whether occupational automobility has had similar or different effects on workers, I use the O*Net automation index, which calculates the percent at which an occupation's tasks can be automated, as well as American Community Survey data to estimate the effect of changing vulnerability of automation on wages and employment. I estimate that individuals earn higher wages as their occupation utilizes more technology for tasks. More specifically, low-skill workers see larger improvements in their wages as automation increases, in comparison to high-skill workers. From the O*Net score, I also derive a county level automation score, which specifies an average score representing the degree of occupational automation in each county. Using county level data, I estimate that wages tend to increase for both high- and low- skilled workers as automation increases, but the percent change in wages across years might decrease when a county has an average automation score, but the fraction of high-skill workers rises. Additionally, I find that overall, automation leads to a decrease in county unemployment, but with county fixed effects automation results in an increase in county unemployment.
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    Coastal Flood Hazards and Housing Markets: How do changes to the National Flood Insurance Program Effect Single-Family Home Values in Coastal Areas?
    (2020) Meyers, Antonia; Lambie-Hanson, Timothy
    This study explores how flood zone status and changes to the National Flood Insurance Program affect single-family home values. Specifically, I use a repeat sales difference-in-differences model to test the effects that the Biggert Waters Reform Act of 2012 (BW12) and the Homeowner's Flood Insurance Affordability Act of 2014 (HFIA) have on property values in high-flood risk areas in Florida from 2009-2019. The results indicate that a home located in a flood zone had a price discount of 5% compared to non-flood zone homes prior to the reforms. There was no significant policy effect due to BW12 whereas HFIA is found to have a significant negative impact on flood zone homes raising the flood zone price discount to 9% as homeowners adjust to the increased costs of living in a flood zone. This study finds that older homes appreciate more than younger homes making them more resilient to the negative effects of the flood zones and reforms to the NFIP. Additionally, coastal communities are more sensitive to flood zone reforms than non-coastal communities. The results also provide evidence that the type of flood insurance subsidy a home receives, as well as the degree of flood risk a home is exposed to, impacts both the flood zone response and the effect of flood insurance reforms. The HFIA policy resulted in greater depreciation for homes that are exposed to a higher degree of flood risk and had an overall negative impact on single-family flood zone homes in Florida.
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    Competition and Collusion in The Smartphone Industry: Apple vs. Samsung
    (2016) Dantinor, Neshka; Lambie-Hanson, Timothy
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    Cosmetic Surgery Consumption and the Influence of Celebrity Prominence
    (2018) Wilson, Kiamani; Lambie-Hanson, Timothy
    Plastic Surgery statistics indicate that there has been a shift in the types of cosmetic surgeries Americans are choosing. The top surgical procedures include tummy tucks, breast augmentations, nose reshapings and eyelid surgeries. The fastest growing surgical procedures are buttock implants and lifts according to data from the American Society of Plastic Surgeons. This paper examines the effect of Kim Kardashian’s and Nicki Minaj’s rise to prominence on cosmetic surgery consumption in the United States. Using a sample of United States plastic surgery data from 1997 to 2016 from the American Society of Plastic Surgeons, supplemented with Google trends data and data from the Federal Reserve Economic Database, we employ a difference in difference approach. We empirically test whether cosmetic surgery consumption changes after Kim Kardashian’s and Nicki Minaj’s rise to prominence. We find that post 2013, after Kim Kardashian’s and Nicki Minaj’s rise to prominence there is a 51% increase in breast augmentations, buttock augmentations, buttock lifts and tummy tucks compared to other cosmetic surgeries. Results show a 20% increase in cosmetic surgical procedures performed. Results also show as Kim Kardashian’s celebrity interest rises by 1%, the consumption of Kardashian and Minaj-style cosmetic surgeries increases by 2%. We argue that Nicki Minaj and Kim Kardashian are the tastemakers in the cosmetic surgery market and that they influence individuals cosmetic surgery consumption.
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    Determining the Effects of Rail Transit on Crime
    (2015) Millman, Sloan; Lambie-Hanson, Timothy
    Commuter rail provides cities numerous economic benefits, such as the mitigation of air pollution and traffic congestion, as well as another mode of transportation for city residents. Although rail transit can positively impact neighborhoods in numerous ways, there is concern that it may increase the accessibility of areas for criminals. My research utilizes a panel data set of neighborhood crime in Atlanta, Georgia, in order to determine the impact that rail transit has on crime. The results from using a random-effects estimator indicate that neighborhoods in close proximity to rail stations in Atlanta have higher crime rates than neighborhoods that are further away from them. This is also the case in areas close to rail stations where housing values are higher, as compared to areas with high housing prices that are further away from a station and areas close to stations that have lower housing prices. Furthermore, I find that areas close to stations that have high poverty rates tend to have less crime.
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    Do Sector-Focused Mutual Funds Generate Alpha?
    (2020) Buseck, Kyle; Lambie-Hanson, Timothy
    This study utilizes the capital asset pricing model to compare the returns of sector-focused mutual funds against sector-focused indexes and the S&P 500 across various time frames, both gross and net of fees. To do this, the study uses a collection of one hundred and twenty eight U.S. based active mutual funds that focus on seven different sectors of the stock market. From a return basis, the analysis reveals that the active sector funds overwhelmingly underperform sector-focused indexes and the broad market S&P 500 index, both gross and net of fees. However, the analysis also indicates that, despite providing lower returns on average, active sector funds provide less volatile returns. These findings are in line with the majority of existing literature surrounding the active versus passive debate and support the efficient market hypothesis. The efficient market hypothesis believes that, in a developed market, all assets are adequately priced at all times, and, therefore, investing passively provides superior long term returns compared to actively attempting to beat the market.
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    Does Retail Choice Affect the Renewable Energy Price Premium of Residential Electricity Plans?
    (2020) Ahmed, Maya; Lambie-Hanson, Timothy
    Over the past 30 years, 13 US states have enacted retail choice for residential electricity customers. In recent decades, electric utilities have also experienced growing pressure to provide options for customers to purchase electricity generated from renewable sources. Previous economic literature indicates that renewable electricity plans often come with a price premium. However, no studies to date evaluate the impact of electricity market deregulation on renewable energy prices. This study uses a cross-sectional dataset of 1,659 residential electricity plans gathered from 15 pairs of counties on the border of retail choice states and non-retail choice states in March 2020. I perform a hedonic price regression using ordinary least squares (OLS) and county pair-number fixed effects to estimate the effect of retail choice status on the price premium of renewable electricity plans. This paper finds that renewable electricity content is associated with a price premium for residential electricity plans in both retail and non-retail choice counties. However, the price premium for renewable electricity plans in retail choice counties is significantly lower than the price premium in non-retail counties. This finding implies that electricity market deregulation may be an effective strategy for decreasing the price premium of renewable energy plans.
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    Investigating the Impact of Search Query Data on Forecasting Housing Prices and Future Fluctuations
    (2017) Corkery, William; Lambie-Hanson, Timothy
    This study follows and adds to existing literature using search query data as a predictor of housing prices and future fluctuations. Based on the premise that homebuyers reveal their intention to purchase or sell their house on the internet, this study aggregates positive and negative real estate related queries into positive and negative search query indices. Using these indices in housing price models serves as a sentiment-like indicator for the U.S. housing market. The study employs both fixed effects and ordinary least squared (OLS) regression analysis to determine the ability of the models to use search query data to predict housing prices and future fluctuations. The results reveal that the inclusion of search query data mitigates error and improves forecasting of housing prices. The study finds that the addition of search query data improves models at the national and MSA-level, especially after accounting for spatial heterogeneity via fixed effects. Notably, this study’s main contribution to the literature is the positive sentiment index (PSI) that appears to be helpful in predicting future housing prices, especially at the national level.
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    Is there a Relationship Between Health Conditions and Owning an HSA or HRA?
    (2020) Arul, Raja; Lambie-Hanson, Timothy
    HSAs were introduced in 2003 by Congress in the Medicare Prescription Drug, Improvement, and Modernization Act (National Conference of State Legislature, n.d.). HRAs were formally defined in 2002 by the IRS in Notice 2002-45 and Revenue Ruling 2002-41(Lindquist, 2012). Both HSAs and HRAs offer tax-incentives to help individuals save for medical expenses. This thesis tests if there exists a relationship between individual health conditions and owning an HSA or an HRA. Using data from the National Health Interview Survey (NHIS), this thesis empirically tests the research questions and finds that there is no significant relationship between having health problems and owning an HSA or an HRA for the overall survey population. However, after estimating this relationship within income groups, this study finds a correlation between an individual's health and owning an HSA or an HRA. This thesis also finds that there exists a correlation between health problems and choice of insurance policy. The main policy implication of this study is that HSAs and HRAs are primarily used by higher income groups. If policy makers want to make an impact on lower income households, HSAs and HRAs need to be restructured to target this demographic.
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    Neighborly Competition in Real Estate Transactions
    (2016) Kenney, Jeanna; Lambie-Hanson, Timothy
    This paper studies price competition in residential real estate with a spatial framework using micro-level data. Using a sample of real estate transactions from 1993-2014 in Philadelphia, PA from the Multiple Listing Service (MLS) sales reports, a multinomial logit model is used to measure effects of competition on probability of sale and a repeat sales approach is used to measure effects of competition on sale price. The results indicate a that a higher measure of competition decreases the probability of selling and increases the probability of dropping out of the market without a sale relative to remaining an active listing. Additionally, competition has a significant negative effect on sale price prior to 2004 and a positive effect after 2006, suggesting that the nature of competition in local real estate markets has changed over time.
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    Predictable Justice Systems: Community Desensitization of Violence and Capital Punishment Rates
    (2015) Groh, Brianna; Lambie-Hanson, Timothy
    Defining statutes for capital punishment crimes vary by state. Within states the distribution of capital sentences and number of executions vary greatly by county. Academics believe capital punishment to be arbitrary in nature. Previous literature has looked at the internal nature of individual sentences such as race of victim, race of convict, and severity of the homicide. Rather than looking at the characterizations of homicides that result in a capital sentence, examining the demographics and communities of the sentencing counties could explain the variation of sentences within a state. Specifically, counties with high exposure to institutionally mandated killing could be more inclined to issue capital punishment sentences than counties with a low tolerance for institutional violence. This research will use veteran populations as a proxy variable for a county’s desensitization level. Findings include significant predictive power of Vietnam and Gulf War veteran populations, and in some cases significant predictive power of overall veteran population. The magnitude and sign of Veteran coefficients indicate that different groups influence community judicial systems in opposing manners.
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    Property Emulation: Consumption Externalities in Renovation Decisions
    (2017) McGroarty, Ian; Lambie-Hanson, Timothy
    This paper contributes to the growing literature relating to exogenous social effects in home rehabilitation decisions. The empirical model used in this paper exploits differences between visible and non-visible spillover effects. Specifically, observing differences in the effects of accepted and rejected home improvement loan applications on neighboring renovation demand. This approach controls for non-random neighborhood sorting in addition to endogenous and correlated neighborhood effects. Estimation of this model exploits household level data from the Home Mortgage Disclosure Act that has been aggregated to the neighborhood level. In line with the sociological and economic theory, these results support the hypothesis that demand for home improvement loans in one district increases in response to a positive shift in housing renovation in and adjacent district. My results also show the presence of within neighborhood spillovers. I find that these effects decrease but remain significant with increasing distance. The findings of this paper have important implications for home policy makers and mortgage lending institutions.
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    Soccer Transfers and Performance in the Premier League: How Popularity affects Transfer Fees
    (2023) Ward, Benjamin A.; Lambie-Hanson, Timothy
    This paper evaluates the key determinants of transfer fees in the Premier League from June 2016 to January 2021. An Ordinary Least Squares (OLS) regression shows that performance, popularity, the remaining length in a player’s contract, and buying club characteristics are all significant determinants of transfer fees. Additional results illustrate the explanatory power of popularity and the role it plays in determining transfer fees.
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    The Effect of High External Debt on Macroeconomic Stability
    (2020) Branovan, Adam; Lambie-Hanson, Timothy
    Banking and liquidity crises in the 1980's and 1990's highlighted the importance studying the currency denomination of debt. Research from the early 2000's suggested that countries with high levels of foreign denominated debt experienced negative economic consequences from a greater risk of default. The term coined "original sin" referred to the idea that these countries suffered from an inability to borrow to in their domestic currency. This paper aims to evaluate the effect of original sin on countries in the last decade. Using BIS data to examine a sample of over 100 countries, it estimates that countries with original sin may experience weaker GDP growth, volatility, and higher unemployment. These effects are statistically insignificant and smaller in effect size than literature from the early 2000's.
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    The Effect of the UEFA Champions League Financial Payout System on Competitive Balance in European Soccer Leagues
    (2016) Vestrich-Shade, Nathan A.; Lambie-Hanson, Timothy
    The paper examines the effect of UEFA Champions League payouts on competitive balance across European leagues. A league-level specification identifies the magnitude of the effect of the UEFA payouts on three measures of competitive balance. The results confirm that the UEFA payouts have a statistically significant effect at the league-level depending on which competitive balance measure and league sample is used. However, the UEFA payouts had no statistically significant effect on individual clubs’ average annual payroll or the clubs’ qualification for the Champions League in the following season.
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    The Effects of New Urbanism Amenities on Residential Property Values: The Case of Philadelphia
    (2017) Kowalski, Jennifer; Lambie-Hanson, Timothy
    New Urbanism is a theory of city planning and development that focuses on compact, mixed-use, human-scale design. Qualitative research regarding this design concept suggests strong interest in the associated amenities, but there are relatively few sophisticated economic studies that consider the theory as a whole. In order to determine the implicit demand for each attribute of New Urbanism design within Philadelphia, this thesis uses a hedonic pricing model to decompose housing sales into the various, relevant components. Results show a lack of clear demand for the exact amenities that New Urbanism encourages, indicating that caution should be taken in prescribing this development theory without prior evidence of city-specific demand.
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    The Impact of the Community Reinvestment Act (CRA) on the Supply of Mortgage Lending in Low-and Moderate-Income (LMI) Communities
    (2020) Tuberville, Unique; Lambie-Hanson, Timothy
    This paper uses a regression discontinuity design to examine whether there is a causal effect of the Community Reinvestment Act on the supply of mortgage lending from banks and nonbanks to low-and moderate-income neighborhoods, specifically focusing on areas with median income ratios near the 80% threshold. A neighborhood is defined as LMI if its census tract median family income (MFI) to metropolitan statistical area (MSA) MFI ratio is less than 80%. Using a sample of loans originated each year from 2000-2017, I find that banks are more likely to lend to tracts that are just beneath the cutoff than to those above it during the pre-recession (2000-2006) period. During the recession period (2007-2011), I find the opposite, suggesting that banks are more reluctant to lend to LMI communities during times of economic crisis.
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    URBAN REDEVELOPMENT AND HOUSING VALUES: A CASE STUDY OF THE ATLANTA BELTLINE
    (2018) Girard, Patrick; Lambie-Hanson, Timothy
    The BeltLine is a large scale, publicly funded urban redevelopment initiative that is transforming the landscape of the city of Atlanta. With an expected completion date of 2030, the plan will ultimately connect 45 in-town Atlanta neighborhoods with a 22-mile loop of trails, parks, and an expansive streetcar system. Research regarding gentrification and public development projects gives rise to evidence of significant impacts on housing values. Using neighborhood-level price index data, this thesis examines the effect that the BeltLine has had on the value of homes at varying distances from the BeltLine across several different time periods and stages of the project’s completion. Depending on the time period and location of homes, values rose anywhere from 10% to around 40% due to announcement and construction of new phases of the BeltLine. These results point towards the success of the BeltLine as an urban redevelopment and renewal project, but several policy questions are also raised regarding some of the potential economic and social costs of the BeltLine’s implementation.