2018 Kentucky Economic Association

Conference Program

Friday, October 12, 2018

Centre College

kentuckyeconomicassociation.org

LOCATION AND DIRECTIONS The conference is being held on Centre College’s campus in Danville, Kentucky. Parking is provided in the South Beatty lot identified by arrow 1 on the map below. The address is 209 South Beatty Ave., Danville, Kentucky 40422. The registration booth and all conference sessions will be held in Young Hall, a short walk from the parking lot. Enter Young Hall from the front of the building as identified by arrow 2 below. The luncheon and plenary session will be in Old Carnegie, identified by arrow 3.

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KENTUCKY ECONOMIC ASSOCIATION Officers and Board of Directors

Alex Lebedinsky

President Western Kentucky University

John J. Perry

President-Elect and Program Chair Centre College

Michael Jones

Treasurer Office of State Budget Director

Jeff Florea Secretary

Madisonville Community College

Alan Bartley Editor, The Journal of Applied Economics and Policy

Transylvania University

Cathy Carey Webmaster

Western Kentucky University

Board of Directors

2015 - 2018 2016-2019 2017-2020 Abdullah Al-Bahrani Melanie Fox Joshua Pinkston

Thomas Jones Volker Grzimek Rohnn Sanderson Daniel Vazanna Carlos Lopez Abdul Turay

Undergraduate Committee

Abdullah Al-Bahrani (Chair), Melanie Fox, Abdul Turay, Volker Grzimek

Please thank Cengage Learning and John Carey for sponsoring the Undergraduate Best Paper Award

2018 KENTUCKY DISTINGUISHED ECONOMIST

Frank O’Connor Professor of Economics, Emeritus

Eastern Kentucky University Frank O'Connor has been a professor of economics at Eastern Kentucky University since 1989, and served as chair of the department from 1989 until 1997. Previously, he served on the faculty of Pennsylvania State University, University of Iowa, and Western Carolina University. He is a graduate of the National University of Ireland (Dublin), has a Master’s degree from Penn State, and received his Ph.D. from the University of Minnesota. His work has been published in a number of journals, including the American Journal of Agricultural Economics, Econometrica, and the Journal of Human Resources. In recent decades, this work has focused on the quantitative study of the economy of Kentucky, its regions, and those of the neighboring states. The work includes regional macro-econometric models and models of regional variation in income level, poverty, and income distribution. Other topics include economic factors in the outcome of Presidential elections, the potential of dedicated energy crops in central Kentucky, and, most recently, mortality rates at mid-life. He has been a member of the Kentucky’s Consensus Forecasting Group since 1999.

CONFERENCE SCHEDULE

8:00 – 8:30

Registration and Light Breakfast (Young Hall Lobby)

8:30 – 9:45

Session I (Young Hall)

9:50 – 11:05

Session II (Young Hall)

11:10 – 12:25

Session III (Young Hall)

12:40 – 1:25

Lunch (Evans-Lively Room, Old Carnegie)

1:25 – 2:15

Awards & Speaker (Evans-Lively Room , Old Carnegie)

Frank O’Connor - Distinguished Kentucky Economist Sub-state Growth in the Lower Midwest and the Upper South

2:15 – 3:15

Plenary Session (Evans-Lively Room, Old Carnegie) Charles Hokayem Research Possibilities in the Kentucky Research Data Center

3:30 – 4:30 KEA Business Meeting (Young Hall, Room 101)

SESSION I

(8:30 – 9:45 AM) Session I-A (Undergraduate Session) Room: Young 112 Chair: Adbullah Al-Bahrani, Northern Kentucky University Presenters: Avelyn Heltzel, University of Kentucky Impact of Adolescent Arts Exposure on Long-term Success Dakota Langhals, Northern Kentucky University

The Effect of Predatory Lending Laws on Mortgage Pricing and Market Activity

Shelby Buckman, University of Kentucky

Effects of Shifts in the Local Tax Base on Economic Outlook: Evidence from Kentucky Cities

Session I-B Room: Young 101 Chair: Mike Clark, University of Kentucky Presenters: Shunan Zhao, Centre College Does Spillover Stimulate Productivity? A Firm-level Analysis Samuel Ingram, University of Kentucky Occupational Licensing and the Earnings Premium: A Border Approach Alex Lebedinsky, Western Kentucky University Effects of Terrorism on Stock Prices: Evidence from High-frequency Data Discussants: Sookti Chaudhary, University of Kentucky Mike Clark, University of Kentucky Xiaozhou Ding, University of Kentucky

Session I-C Room: Young 102 Chair: Maria Apostolova, Centre College Presenters: Christopher Biolsi, Western Kentucky University Do Shocks to Animal Spirits Cause Output Fluctuations? Alexander McGlothlin, University of Kentucky Mergers and Acquisitions of Craft Brewers Sabek Adham, Kentucky State University Estimating Demand for Kentucky Bourbon in Russia Discussants: Matthijs Schendstok, University of Kentucky Maria Apostolova, Centre College Bruce Johnson, Centre College

SESSION II

(9:50 – 11:05 AM) Session II-A (Undergraduate Session) Room: Young 112 Chair: Adbullah Al-Bahrani, Northern Kentucky University Presenters: Benjamin Logsdon, Centre College

Cobb-Douglas Production Function of NCAA Men’s Division I Basketball Winning Percentage

Frances Roorda, University of Kentucky

Econometric Analysis of the Volunteering Activity of University of Kentucky Students

Jack Berger, Transylvania University

Determinants of Foreign Direct Investment in a Panel of Asian Countries: A Fixed Effects Approach

Margaux Curless, Centre College Determinants of IMDb Scores for Television Shows

Session II-B Room: Young 101 Chair: Shunan Zhao, Centre College Presenters: Man Jin, Oakland University

Financial Constraints and Firm Productivity: Evidence from Chinese Manufacturing

Xiaozhou Ding, University of Kentucky Higher Education Expansion and Saving Rate in China

Matthijs Schendstok, University of Kentucky The Distributional Effects of Highways on Income

Discussants: Samuel Ingram, University of Kentucky Shunan Zhao, Centre College Christopher Biolsi, Western Kentucky University

Session II-C Room: Young 102 Chair: Eran Guse, Murray State University Presenters: Eran Guse, Murray State University

A General Technique to Teaching Monetary Policy in a Money and Banking Course

Cody Vaugn, University of Kentucky

Long-Run Impact of Welfare Reform on Educational Attainment and Family Structure

Eve Ann D. Jones, Kentucky State University

The Economics of Employee Engagement and Retention in a Financial Institution: A Case Study of First Federal Savings Bank of Kentucky

Discussants: Katherine Toran, University of Kentucky Mark Wilson, West Virginia State University Eran Guse, Murray State University

SESSION III

(11:10-12:25) Session III-A (Undergraduate Session) Room: Young 112 Chair: Melanie Fox Presenters: Connor Barnes, Centre College The Determinants of FBS Division I College Football Game Attendance Hanna Carlson, University of Kentucky

Client Protection Regulations for Microfinance Institutions in Ghana, Kenya, and Tanzania

Matt Frey, Northern Kentucky University

Regulatory Approaches or Incentive Approaches - A Comparison of the Effectiveness of Mandated Recycling Programs and Incentive Based Recycling Programs

Emily Dohrman, Centre College

The Effect of Fertility on Young Women's Educational Attainment: Evidence from the CFPI

Session III-B Room: Young 101 Chair: Mark Wilson, West Virginia State University Presenters: Sookti Chaudhary, University of Kentucky

Ambulance Service Ownership and Management: How it Affects Quality of Service Delivery for Medicare Patients

Mark Wilson, West Virginia State University College Student Loan Debt: Too High, Too Low, or About Right? Katherine Toran, University of Kentucky Does Medicare Part D Extend Lives? Medicare Part D and Mortality Discussants: Man Jin, Oakland University Cody Vaughn, University of Kentucky Alex Lebedinsky, Western Kentucky University

PLENARY SESSION

Evans-Lively Room, Old Carnegie 2:15 – 3:15 PM

Research Possibilities in the Kentucky Research Data Center

Charles Hokayem The Kentucky Research Data Center (KRDC) is a collaboration between the University of Kentucky and the U.S. Census Bureau established by a grant from the National Science Foundation in 2016. KRDC is part of the nationwide system of Federal Statistical Research Data Centers whose mission is to provide to qualified researchers access to restricted individual- and firm-level data from federal statistical agencies. Demographic, economic, business, and health data are among the various data accessible through KRDC. This presentation will describe the types of data available in KRDC along with examples of research projects that use this data.

Dr. Charles Hokayem is the Administrator for the Kentucky Research Data Center (KRDC) and an Economist in the Center for Economic Studies (CES) at the U.S. Census Bureau. Prior to joining KRDC and CES, Dr. Hokayem taught econometrics, math methods for economists, and financial economics at Centre College. He brings experience from his first tenure at the Census Bureau where he worked in the Social, Economic, and Housing Statistics Division. His research focuses on the low-income population and the importance of survey nonresponse in measuring poverty and inequality. He has published his research in journals such as Economics and Human Biology, the Journal of the American Statistical Association, and the Journal of Political Economy.

Index of Conference Participants

First Name Last Name Session(s) Email Address

Sabek Adham I-C adham.sabek@kysu.edu

Abdullah Al-Bahrani I-A, II-A albahrania1@nku.edu

Maria Apostolova I-C maria.apostolova@centre.edu

Connor Barnes III-A connor.barnes@centre.edu

Jack Berger II-A jrberger19@transy.edu

Christopher Biolsi I-C, II-B christopher.biolsi@wku.edu

Shelby Buckman I-A srbu237@uky.edu

Hanna Carlson III-A hanna.carlson@uky.edu

Sookti Chaudhary I-B, III-B sch333@g.uky.edu

Mike Clark I-B michael.clark@uky.edu

Margaux Curless II-A margaux.curless@centre.edu

Xiaozhou Ding I-B, II-B xiaozhou.ding@uky.edu Emily Dohrman III-A eadohrman@gmail.com

Melanie Fox III-A melaniefox9999@gmail.com

Matt Frey III-A freym2@nku.edu

Eran Guse II-C eguse@murraystate.edu

Avelyn Heltzer I-A avelyn.heltzel@gmail.com

Samuel Ingram I-B, II-B samuel.ingram@uky.edu

Charles Hokayem Plenary charles.hokayem@census.gov

Man Jin II-B, III-B mjin@oakland.edu

Bruce Johnson I-C bruce.johnson@centre.edu

Eve Ann D. Jones II-C veann.jones@kysu.edu

Dakota Langhals I-A langhalsd1@nku.edu

Alex Lebedinsky I-B, III-B alex.lebedinsky@wku.edu

Benjamin Logsdon II-A benjamin.logsdon@centre.edu

Alexander McGlothlin I-C alexander.mcglothlin@uky.edu

Frances Roorda II-A fero222@uky.edu

Matthijs Schendstok I-C, II-B mbsc229@uky.edu

Katherine Toran II-C, III-B katherine.toran@uky.edu

Cody Vaughn II-C, III-B cnva225@uky.edu

Mark Wilson II-C, III-B mark.wilson@wvstateu.edu

Shunan Zhao I-B, II-B shunan.zhao@centre.edu

Kentucky Economic Association Roll of Distinguished Economists

James Martin 1975 Price Fishback 1998

William Herzel 1976 James Ramsey 1999

Marlon Gillium 1977 Kerry Back 2000

Don Soule 1978 Eugene Steurle 2002

Clifton Lowry 1979 Margaret Walls 2003

Paul Tanner 1980 Merl Hackbart 2004

Damon Harrison 1981 Donald Kenkel 2005

Charles Haywood 1982 W. Kip Viscusi 2006

Charles Hultman 1983 Ralph d’Arge 2007

James Thompson 1984 John Whitehead 2008

Lawrence Lynch 1985 Glenn Blomquist 2009

Stephen Lile 1986 Jeffrey Lacker 2010

Roy Bahi 1990 Amitabh Chandra 2011

Jaunita Kreps 1991 James J. Heckman 2012

Ray Marshall 1992 Jerry R. Skees 2013

Paul McCracken 1993 Paul A. Coomes 2014

Benjamin Friedman 1994 La Vaughn M. Henry 2015

Alan Randall 1995 Eugenia F. Toma 2016

Gerald Lynch 1996 Kathryn H. Anderson 2017

Ronald Jones 1997 Frank O’Connor 2018