Creating effective public policy is difficult. The myriad unintended and secondary consequences of tax and expenditure policy create much confusion regarding both the source of and solutions to social problems. Further adding to the complexity of effective policy making is the fact that policy...

Selling (buying) a country's equity index in exchange for equity investments elsewhere during a stock market crash (boom) is analogous to exercising an option to exchange an underperforming country (global benchmark) index for a global benchmark (country) index. This can be shown by extending an...

Bank regulators consider minimum capital standards essential for promoting well-functioning banking systems. Despite their existence, however, such standards have been insufficient to prevent periodic disruptions in the banking sectors of various countries. The most recent disruption was the...

Though part of “market lore,” Black (1976) first reported the inverse relationship between price and volatility, calling it the “leverage effect.” Without providing evidence, Black (1988) claims that in the months leading up to the October ‘87 Crash the relationship changed: price and...

This study uses a panel of NCAA Division I athletic department revenue and expenditure data from 225 public colleges and universities to empirically investigate the behavior of athletic departments over the period 2006-2011. Three empirical relationships were explored: (1) how changes in total...

This study uses a panel of NCAA Division I athletic department revenue and expenditure data from 227 public colleges and universities to empirically investigate the effects of conference realignment over the period 2006-2011. The results show that schools moving into automatic-qualifying...

This study develops a simple model for analyzing excise tax setting in a competitive framework. Then, this study utilizes a dynamic space-time panel econometric model to explore cigarette and beer tax rate setting from U.S. states from 1960-2007. The empirical findings support the model...

The Rockonomix assignment and Web site were developed (1) as tools to reward students who possess skills and talents that are traditionally undervalued in the economics classroom (e.g., creativity, artistic talents, technological skills, and communication skills) and (2) as a means of...