Eastern Economic Journal最新文献

Sports leagues have requested state legislatures to pass so-called integrity fees or taxes on the entire amount bet on their games, ostensibly to provide resources to protect against game fixing and other corrupt behavior. These fees might just augment league revenues. Integrity fees have different consequences if they are placed on a sports book's handle or hold. We model one possible consequence of an integrity fee placed on the handle, that sports books might be motivated to avoid pushes, after which they have no hold but face a tax liability. One approach moves to half-point lines which eliminate pushes but might be second best in terms of betting market efficiency. As a case study, we describe the characteristics of recent betting lines in four North American sports. Based on predicted pushes, actual pushes, half-point lines, and the intertemporal correlation between the annual number of pushes and the annual number of half-point lines, it appears that sports books already actively set lines that avoid pushes and could easily adjust to half-point lines motivated by integrity fees.

The current globalized economic environment has made Emerging Market Economies (EMEs) highly exposed to global economic shocks. During the Covid-19 pandemic, EMEs have been facing increased health costs and heightened demand for fiscal stimulus. In addition, most EMEs experienced currency depreciation, reversal in capital flow, decrease in global demand and significant decline in domestic revenue, leading to a potential increase in sovereign bond risk premiums (SRP). Using dynamic panel estimations and focusing on 12 countries, we find that the Covid-19 pandemic impacts SRP primarily through GDP growth and political stability indicators. In addition, we find the real exchange rate and net export to GDP ratio have a statistically significant impact on sovereign bond risk premium.

I investigate the timing of the Stay-at-Home orders. I use daily Google search data to track early interest in the novel Coronavirus pandemic. I ask whether governors responded to heightened concern (i.e., following) or if their decisions are independent of citizen sentiment (i.e., leading). I show that Stay-at-Home orders were initiated sooner in states that saw early, heightened in the virus. This suggests that governors follow voters' opinions, preferences, and sentiments. Exploring potential heterogeneous effects, there is not a difference in the size of this effect between Republican and Democrat governors, nor is there a difference between those up for re-election in 2020 and those not. I do find that governor responsiveness is related to the state's economic freedom and the governor's approval rating just before the pandemic. In a novel environment without precedence, governors in the USA set policy in accord with voter preferences.

This study addresses a unique angle by examining an under looked determinant of entrepreneurship related to disease epidemics. In times of natural disasters, such as disease epidemics, new demands emerge that might promote entrepreneurship. Using data on a large cross section of countries, we empirically test whether and to what extent the incidence and severity of disease epidemics affect the prevalence of entrepreneurship. The results show that both the occurrence and severity of epidemics spur entrepreneurial activity. These results highlight a potentially important role served by entrepreneurs in responding to biological disasters. Our findings withstand a series of robustness checks.

We investigate the effect of standardized mathematics scores for young adults on the number of COVID-19 cases in the USA. We find that a one-grade-level increase in test scores led to a decrease in COVID-19 cases 30, 60, and 90 days after the first case in each county. Our findings suggest that if states and localities implement policies that increase the level of education and comprehension of mathematics at the K-12 level, that people may be better prepared to find and interpret information in a future public health crisis.