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Posts in Economic Impact
The Econometric Analysis of Time Series

May Contain Mark-Ups

By A.C Harvey

“The Econometric Analysis of Time Series”by A.C. Harvey is a comprehensive guide to understanding and applying econometric theory to time series data. The book is structured into several key sections, each addressing different aspects of econometric analysis. It Begins with an introduction to the importance of econometrics in estimating relationships suggested by economic theory, testing hypotheses, and making predictions. The book covers linear regression models, least squares estimation, properties of the ordinary least squares (OLS) estimator, generalized least squares (GLS), and prediction. It also delves into the method of maximum likelihood (ML) estimation, its properties, and its application to regression models, discussing sufficiency, the Cramer-Rao lower bound, and robustness of ML estimators. Further, the book explores numerical optimization techniques, including the Newton-Raphson method and two-step estimators, and discusses test procedures and model selection strategies. It addresses regression models with serially correlated disturbances, dynamic models, and simultaneous equation models, emphasizing the integration of recent advances in time series analysis into econometric theory.

The book also highlights the importance of understanding the dynamic aspects of econometric models and the challenges associated with specifying suitable models for time series data. Practical considerations such as the use of instrumental variables, handling heteroscedasticity, and constructing robust estimators are also covered, providing a thorough foundation for both theoretical and applied econometric analysis.

John Wiley & Sons, 1990, 384 pages

Unequal Treatment: Strategies to Achieve Equitable Health Care and Optimal Health for All

National Academies of Sciences, Engineering, and Medicine; Health and Medicine Division; Board on Health Care Services; Board on Population Health and Public Health Practice; Committee on Unequal Treatment Revisited: The Current State of Racial and Ethnic Disparities in Health Care; Georges C. Benjamin, Jennifer E. DeVoe, Francis K. Amankwah, and Sharyl J. Nass, Editors

Racial and ethnic inequities in health and health care impact individual well-being, contribute to millions of premature deaths, and cost the United States hundreds of billions of dollars annually. Addressing these inequities is vital to improving the health of the nation’s most disadvantaged communities—and will also help to achieve optimal health for all. In 2003, the Institute of Medicine examined these inequities in Unequal Treatment: Confronting Racial and Ethnic Disparities in Health Care.

Because disparities persist, the National Academies convened an expert committee with support from the Agency for Healthcare Research and Quality and the National Institutes of Health. The committee’s report reviews the major drivers of health care disparities, provides insight into successful and unsuccessful interventions, identifies gaps in the evidence base, and makes recommendations to advance health equity.

National Academies. 2024. 375p..

COLOUR, RACE AND EMPIRE

by A. G. R U S S E L.L

● Focus on Race and Colour: The document explores the social and economic implications of racial differentiation, particularly within the British Colonial Empire, emphasizing the practical importance of these issues over physical differences.

● Historical Context: It discusses the historical development of racial issues, including the impact of European expansion and the Industrial Revolution on race relations.

● Colonial Exploitation: The text highlights the economic exploitation of colonies, particularly in Africa, and the profits made by European companies at the expense of native labor.

● Educational Challenges: The document addresses the educational disparities faced by colonized peoples and critiques the Western educational system for its failure to adequately serve these populations.

London. Gollancz. 1944. 273p.

THE NEGRO FROM AFRICA TO AMERICA

By W.D. Weatherford,

Addresses the complex issue of racial adjustment and is introduced by James H. Dillard. It explores the history and progress of Black people from Africa to America, highlighting the struggles and achievements in the face of adversity. The author emphasizes the importance of mutual understanding and trust between races to overcome racial antipathy and achieve social justice. Historical Context: The book provides a detailed account of the African background, the impact of slavery, and the ongoing challenges faced by Black people in America.

NEGRO UNIVERSITIES PRESS. NEW YORK. 1924. 483p.

Building a Whole-of-Government Strategy to Address Extreme Heat

WICKERSON, GRACE; BURTON, AUTUMN

The passage that follows includes several links embedded in the original text. From the document: "From August 2023 to March 2024, the Federation of American Scientists (FAS) talked with +'85 experts' to source '20 high-demand opportunity areas for ready policy innovation' and '65 policy ideas.' In response, FAS recruited '33 authors to work on +18 policy memos' through our 'Extreme Heat Policy Sprint' from January 2024 to April 2024, 'generating an additional +100 policy recommendations' to address extreme heat. Our experts' full recommendations will be published in April 2024; this report previews key findings. In total, FAS has collected '+165 recommendations for 34 offices and/or agencies.' Key opportunity areas are described below and link out to a set of featured recommendations. The accompanying spreadsheet includes the '165 policy ideas' developed through expert engagement. [...] America is rapidly barreling towards its next hottest summer on record. While we still lack national strategy, states, counties, and cities around the country have taken up the charge of addressing extreme heat in their communities and are experimenting on the fly. [...] While state and local governments can make significant advances, national extreme heat resilience requires a 'whole of government' federal approach, as it intersects health, energy, housing, homeland and national security, international relations, and many more policy domains. The federal government plays a critical role in scaling up heat resilience interventions through research and development, regulations, standards, guidance, funding sources, and other policy levers. 'But what are the transformational policy opportunities for action?'"

FEDERATION OF AMERICAN SCIENTISTS. JUN, 2024. 34p.

Streamlining Doping Disputes at the Olympics: World Sports Organizations, Positive Drug Tests, & Consistent Repercussions

By Abby Chin

At the Olympic Games Rio de Janeiro 2016, world champion and Russian swimmer Yulia Efimova walked into the Olympics Aquatics Stadium not to cheers, but to the sound of boos.2 The crowd, and many athletes, condemned Efimova as a drug-using outcast who should not be allowed to compete in the Games. At the Rio Olympic Games, Efimova was one of seven swimmers from the Russian Federation who were formerly banned from the competition due to previously failed drug tests and the “World Anti-Doping Agency’s investigation into state-sponsored doping.”3 However, after an intense arbitration process, Efimova and her teammates were approved for competition. Efimova’s doping dispute began in 2013 when she received her first positive drug test and served a sixteen-month suspension.4 Next, in 2016, she tested positive for meldonium—the substance at issue for the alleged Russian state-sponsored doping.5 However, because meldonium did not officially become a banned substance until January 2016, many athletes claimed that, although they were no longer actively taking it, they were still testing positive because traces of meldonium were left in their system.6 This left a question about who would decide an athlete’s future competition eligibility after a positive test. While many different agencies were involved, Efimova’s positive drug test came from the World Anti Doping Agency (WADA). A positive test usually leads to a suspension, which athletes can appeal through the Court of Arbitration for Sports (CAS). However, because the positive test results occurred in an Olympic year—and with the was scrutiny of the entire Russian Olympic Federation—the International Olympic Committee (IOC) would also influence the outcome of the doping investigation.7 In its press release, the IOC stated athletes who had served prior suspensions unrelated to meldonium would be banned.8 If meldonium was the athlete’s first offense, it was up to the individual federations governing each sport to decide the fate of each individual athlete.9 However, the IOC decision conflicted with CAS precedent, which allowed athletes to return to competition with a clean slate after serving their entire suspension for a positive drug test.10 As a result, there was confusion and uncertainty as to whether these Olympic athletes could compete.11 Efimova appealed to the CAS, requesting to be reinstated to compete as she had already served her suspension. The CAS, believing it was inappropriate to ban athletes like Efimova for having already served suspension, granted the appeal.12 Efimova was able to compete in Rio despite the backlash of many other competitors and nations.13 Whether Efimova deserved the backlash, it became clear there was a significant problem with the uncertainty and lack of knowledge as to the appropriate process for punishing athletes who tested positive. Through the different rulings of the three major governing bodies involved, Efimova was placed under rigid scrutiny, in part because people did not understand the disciplinary process, her right to an appeal, and her right to receive relief from her sanction. This Note will examine the effect of the governing bodies, specifically during an Olympic year, on athletes involved in doping disputes and suggest a more streamlined arbitration process for the governing bodies to use when determining the eligibility of athletes in doping disputes. Currently, the arbitration process lacks transparency and efficiency because of the arbitrator selection process, the costs associated with bringing a dispute in front of an appeals panel, and the mandatory nature of arbitration in international sports. Hence, to create more just dispute outcomes, the arbitration process should become more informal, and athletes should be given the option for a final appeal. Section II of this Note discusses the different governing bodies and their processes for dealing with doping disputes. Section III demonstrates how the different governing bodies work around each other when handling disputes. This section also analyzes the positive and negative impacts of the way in which governing bodies work together. Section IV explores Efimova’s doping dispute in depth to provide an example of the arbitration process. Section V specifically describes the current concerns with the CAS arbitration process and ultimately offers a possible solution for a better-streamlined dispute process, such as modifying the current arbitration and arbitrator selection proceedings or allowing for an appeal from a CAS arbitrator decision.

OHIO STATE JOURNAL ON DISPUTE RESOLUTION [Vol. 33:3 2018]

Losing Medicaid and Crime

By Monica Deza, Thanh Lu, Johanna Catherine Maclean, and Alberto Ortega

  We study the impact of losing health insurance on criminal activity by leveraging one of the most substantial Medicaid disenrollments in U.S. history, which occurred in Tennessee in 2005 and lead to 190,000 non–elderly and non–disabled adults without dependents unexpectedly losing coverage. Using police agency–level data and a difference–in–differences approach, we find that this mass insurance loss increased total crime rates with particularly strong effects for non violent crime. We test for several potential mechanisms and find that our results may be explained by economic stability and access to healthcare. 

Cambridge, MA: National Bureau of Economic Research. 2024, 56pg

Ohio under COVID: Lessons from America's Heartland in Crisis

By Katherine Sorrels, Lora Arduser, Danielle Bessett, Vanessa Carbonell, Michelle McGowan, and Edward Wallace

In early March of 2020, Americans watched with uncertain terror as the novel coronavirus pandemic unfolded. One week later, Ohio announced its first confirmed cases. Just one year later, the state had over a million cases and 18,000 Ohioans had died. What happened in that first pandemic year is not only a story of a public health disaster, but also a story of social disparities and moral dilemmas, of lives and livelihoods turned upside down, and of institutions and safety nets stretched to their limits. Ohio under COVID tells the human story of COVID in Ohio, America’s bellwether state. Scholars and practitioners examine the pandemic response from multiple angles, and contributors from numerous walks of life offer moving first-person reflections. Two themes emerge again and again: how the pandemic revealed a deep tension between individual autonomy and the collective good, and how it exacerbated social inequalities in a state divided along social, economic, and political lines. Chapters address topics such as mask mandates, ableism, prisons, food insecurity, access to reproductive health care, and the need for more Black doctors. The book concludes with an interview with Dr. Amy Acton, the state’s top public health official at the time COVID hit Ohio. Ohio under COVID captures the devastating impact of the pandemic, both in the public discord it has unearthed and in the unfair burdens it has placed on the groups least equipped to bear them.

Ann Arbor: University of Michigan Press. 2023, 341pg