Department of Economics Abstracts

Presenter(s): Gaheul Yi

Showcase Advisor: Byoung Park

Abstract: This research project examines the causal impact of state-level abortion policies on individuals’ access to reproductive healthcare, with particular attention to variation across socioeconomic groups and regions. Using a Difference-in-Differences (DID) design, the study estimates policy effects by comparing changes in outcomes before and after abortion policy shifts in states with and without regulatory change. The analysis integrates multiple datasets, including the 2014 Abortion Patient Survey from the Guttmacher Institute, American Community Survey data, and comprehensive state abortion policy databases. In addition, the project incorporates longitudinal analysis of public attitudes using General Social Survey (GSS) data from 1972 to 2024 to examine how long-term exposure to differing policy environments shapes beliefs about reproductive rights and bodily autonomy. By combining sociological theory, political analysis, and econometric methods, the project provides interdisciplinary evidence on reproductive health inequalities and offers insights relevant to policymakers addressing widening regional disparities in reproductive healthcare access.

Presenter(s): Alessandra Pinillos

Showcase Advisor: Laurence Kranich

Abstract: Education plays a major role in human capital formation and long term economic growth, but the returns to schooling can be different across multiple countries due to the differences in labor market structures, education quality and levels of economic development. The analysis will highlight the comparison of how the US, a country with higher levels of educational spending and a more formalized labor market, a country in which exhibits more stable and measurable returns to education, while Peru, a country that faces challenges such as regional inequality, lower education investment and a larger informal labor sector, can affect wage outcomes. The analysis of this project will help us understand that although education generates positive economic returns in both countries, the differences in institutions and labor markets always play a crucial role in shaping the magnitude of those returns and the effectiveness of education investment.

Presenter(s):

• Abdulazize Wolle
• Ahmad Kharabsheh
• Chuantai Yuan
• Dewei Xing
• Evren Gulser
• Farhana Yeasmin
• George Douglas Siton
• Hyeonwoo Do
• Hyoshin Ki
• Jaehak Lee
• Ji Hee Sung
• Jiyan Bai
• Karan Bhasin
• Modinat Alabi
• Phan Huong
• Piyush Gade
• Saheli Basu
• Seojin Jung
• Shakya Ghosh
• Shimazu Yoritsugu
• Shouvomoy Roy
• Susmita Ray
• Tao Chen
• Tianyi Chen
• Wonjin Yoo
• Xiaoao Liao, Xiaojie Liu
• Yiwei Li
• Zhendong Li

Showcase Advisor: Chun-Yu Ho

Presenter(s): Karan Bhasin

Showcase Advisor: Kajal Lahiri

Abstract: This paper introduces a hierarchical Large Language Model (LLM) framework for the automated identification of narrative fiscal shocks. We develop a multi-stage architecture to extract austerity episodes from IMF Article IV reports (2004–2022) for 17 OECD countries. Unlike manual coding, our approach ensures replicability and auditability through documented reasoning chains. Benchmarking against Adler et al. (2024), we find the LLM framework successfully filters endogenous policy shifts overlooked by human coders. Local projections demonstrate that LLM-identified shocks yield more precisely estimated fiscal multipliers whereas noisier traditional datasets show mixed results.

Presenter(s): Katie Moroney

Showcase Advisor: Laurence Kranich

Abstract: The New York City housing affordability crisis is an ongoing issue characterized by rising demand, limited supply, and deteriorating public housing infrastructure. Historical housing policies, such as rent stabilization and the development of public housing through the New York City Housing Authority (NYCHA), have played a significant role in shaping the city’s current housing landscape. Despite these programs, long waitlists for affordable housing, restrictive zoning policies, gentrification, and post-pandemic displacement continue to intensify housing insecurity for many residents. Recent policy proposals from Zohran Mamdani seek to address these challenges through a freeze on rents for rent-stabilized apartments, expanded public-sector housing development, and increased investment in the renovation of existing NYCHA units. This analysis seeks to address advantages of the program, such as immediate financial relief, job creation, and an increased housing supply, as well as acknowledge potential drawbacks, like reduced incentives for lessors and limitations from federal and state funding.

Presenter(s):

• Connor Endres, Sam Fallon, Aidan Stanley
• Rafy Ferdous, Mannan Ramay, Kamel Stewart
• Sam Costanzo, Eli Ritter, Matthew Palma
• Zachary Delsanto, Edward Lin, Nelson Taveras
• Ethan Agosta, Renee Scott
• Eva-Angeline Ellis-Geter, Yahsius Goode
• Janisse Frias Garcia, Seliany Garcia

Showcase Advisor: Chun-Yu Ho

Presenter(s): Jason Calderone

Showcase Advisor: Laurence Kranich

Abstract: The Supreme Court’s decision in Kelo v. City of New London (2005) marked a major expansion of eminent domain by allowing for private economic development under the “public use” umbrella. This paper argues that the ruling raises serious concerns about justice, economic efficiency, and community impact. Using legal scholarship, empirical research, and critiques from Epstein, Burnette, and the Kelo dissents, the paper evaluates whether broad takings serve the public interest or primarily benefit political and corporate elites. It examines the widespread public backlash, the uneven state‑level reforms that followed, and empirical evidence demonstrating that restricting eminent domain does not hinder economic growth. Ultimately, this paper contends that more egalitarian policy alternatives such as stricter blight standards, community benefit agreements, and market-based land assembly offer a better course for the future and that takings for speculative private development are unjustifiable.

Presenter(s): Jordan Langston

Showcase Advisor: Laurence Kranich

Abstract: This project analyzes whether the rise of remote work has reduced the urban wage premium in the United States. Before the expansion of remote work, workers in large metropolitan areas earned higher wages due to productivity advantages and geographic concentration of firms. This study examines recent labor market evidence comparing wage trends in remote-capable occupations and primarily in-person jobs. The goal is to determine whether remote work weakened the wage advantage traditionally associated with large cities.

Presenter(s): Lex Leto

Showcase Advisor: Gerald Marschke

Abstract: This paper replicates and extends Moretti and Wilson’s (2023) study, which demonstrated that the locational choices of the Forbes 400 are highly sensitive to state estate taxes. Using an updated panel from 2018 to 2025, I examine how consistently the "billionaire flight" effect persists despite two recent structural shocks: the 2017 Tax Cuts and Jobs Act and the COVID-19 pandemic. This extension is critical because the TCJA's higher federal exemptions increased the financial weight of state-level taxes on an individual's total tax bill, while the pandemic structurally lowered the barriers to geographic mobility. My findings provide an out-of-sample test of the original model, confirming that despite these macroeconomic shifts, state estate taxes remain a statistically significant driver of residential choices among the ultra-wealthy.

Presenter(s): JU-HYEON KIM

Showcase Advisor: Byoung Park

Abstract: This study presents a statistical analysis of NBA team and league salary distributions, examining player compensation patterns across all teams. Using data from the season, team and player salaries were aggregated to calculate average, median, and total payrolls. Comparisons were made to identify top- and bottom-paid teams and to explore disparities within team rosters. Probability distributions were applied to understand the likelihood of high-earning players within different teams and the league as a whole. Findings indicate significant variation in salary allocation, reflecting both market-driven decisions and team strategy. The analysis provides insights into financial management in professional sports and highlights the potential impact of salary structures on competitive balance. This research contributes to the understanding of economic patterns in the NBA and offers a foundation for further studies on salary equity and league-wide financial trends.

Presenter(s): Vasu Patel

Showcase Advisor: Yue Li

Abstract: When mortgage rates surpassed 7% in 2022, conventional economic logic predicted a housing correction. In most American cities, it never came. This paper investigates why. Analyzing 30 U.S. metropolitan areas across two distinct periods — pre-pandemic (2015–2018) and post-pandemic (2019–2026) — I estimate the extent to which supply elasticity and RSMeans construction cost indexes explain cross-city variation in housing price appreciation.

Presenter(s): John Rhodes

Showcase Advisor: Laurence Kranich

Abstract: VA disability compensation is designed to support veterans whose service-connected conditions affect their ability to work and live independently. The program uses a nationally uniform rating system that assigns monthly payments based on the severity of a veteran’s disability. In theory, this structure promotes fairness by ensuring that veterans with similar disabilities receive the same compensation. In practice, however, economic conditions across the United States vary widely. Differences in housing costs, wages, and overall cost of living mean that the same disability payment may provide very different levels of financial security depending on where a veteran lives. This project examines whether the VA’s uniform compensation system still produces fair economic outcomes in today’s uneven economic landscape. By exploring how fixed disability ratings interact with regional economic differences, the paper considers whether equal payments still translate into comparable economic wellbeing for veterans across different parts of the country.

Presenter(s): Rui Li

Showcase Advisor: Chun-Yu Ho

Abstract: I analyze how vertical integration between insurers and providers affects the compliance with Medical Loss Ratio regulation and the consumer welfare in the U.S. health insurance market, using a rich dataset from 2018 to 2023. Reduced-form evidence suggests that vertical integration raises the medical loss ratios of their subsidiary insurers and enables previously non-compliant insurers to achieve regulatory compliance. Motivated by these reduced-form results, I propose and estimate a model of insurer–provider bargaining and find that removing vertical integration leads to lower negotiated prices and premiums, improving consumer welfare. In contrast, stricter regulations raise both prices and total spending. Therefore, vertical integration can weaken the effectiveness of Medical Loss Ratio regulation and reduce its intended consumer welfare.

Presenter(s): Piyush Gade

Showcase Advisor: Ulrich Hounyo

Abstract: Social media sentiment predicts stock losses and gains, yet for which stocks and why remains unclear. The answer lies in the match between who discusses a stock on Twitter and who holds genuine informational advantages about it. English-language Twitter discourse about U.S.-listed stocks is concentrated among U.S.-based investors, who are well-positioned to assess domestic firms through familiarity with U.S. business conditions, regulatory filings, and industry dynamics. For foreign stocks, the best-informed investors are based in those companies’ home countries, holding superior knowledge of firm fundamentals and domestic market conditions, yet they contribute disproportionately less to English-language financial Twitter discussion of those specific stocks. This mismatch predicts that U.S. Twitter sentiment should be a more reliable signal for domestic stocks than for foreign ones. Using a large panel data we show that sentiment uncertainty predicts subsequent losses for domestic stocks but leaves foreign losses largely unpredicted.