Open Access Published by De Gruyter Open Access

Volume 5 Issue 1

January 2022

Issue of Open Economics

Contents
Journal Overview

Open Access April 13, 2022

Equity Return Expectations and Financial Wealth Holdings of U.S. Households

Marty Cotwright, Swarn Chatterjee

Page range: 1-10

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Abstract

This paper examines the association between stock market return expectations and financial wealth holdings of older adults using the 2016 wave of the Health and Retirement Study. Our study finds that less than 30% of individuals assigned a greater than 50% probability that the market will earn a positive nominal return in the following year. However, considerable heterogeneities were observed across racial/ethnic groups. Health status, the cognitive functioning of older adults, and expectations of positive stock market return were positively associated with greater financial wealth holdings among households. Our study also finds that older age, and being female were associated with a higher probability of expected equity returns in the following period. Health status, cognition, and equity return expectations were positively associated with the financial wealth holdings of households. African Americans, Hispanics, and other races were negatively associated with the probability of equity return expectations and financial wealth holdings when compared with the reference group of non-Hispanic Whites. Overall, this study contributes to the literature by applying a unique mathematically derived measure of future return expectations, and extends the literature on equity return expectations and the financial portfolios of households. The negative association between being African American or Hispanic and financial wealth holdings is concerning. The findings from this study inform policy makers, and underscore the need for prioritizing programs and policies that can be play a critical role in building human capital, in promoting financial capability, and in bridging the financial wealth gap for households belonging to the disadvantaged and underserved racial ethnic groups.

Open Access April 26, 2022

How are the United States Banks faring during the COVID-19 Pandemic? Evidence of Economic Efficiency Measures

Kekoura Sakouvogui, Mama Genevieve Guilavogui

Page range: 11-29

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Abstract

Due to the current lockdown and restrictions related to the COVID-19, U.S. commercial and domestic banks are facing cashflow and financial difficulties. This has led to many vulnerable customers losing their source of income. In this paper, we examine the importance of financial liquidity and solvency on U.S. commercial and domestic banks’ efficiency during the COVID-19. This paper adopts the Data Envelopment Analysis’ estimator in a two-step procedure. First, economic efficiency measures of 16,830 December quarterly observations of U.S. commercial and domestic banks are estimated from December 2010 to December 2020. Within each year, 1,530 U.S. commercial and domestic banks are selected. Second, using Tobit and panel fixed effect regression models, the importance of both liquidity and solvency risks on economic efficiency during the COVID-19 is examined. Empirical estimates indicate that both liquidity and solvency financial factors negatively affect the economic efficiency measures of U.S. commercial and domestic banks during the COVID-19.

Open Access December 31, 2022

Content removal bias in web scraped data: A solution applied to real estate ads

Gabriele Marconi

Page range: 30-42

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Abstract

I propose a solution to content removal bias in statistics from web scraped data. Content removal bias occurs when data is removed from the web before a scraper is able to collect it. The solution I propose is based on inverse probability weights, derived from the parameters of a survival function with complex forms of data censoring. I apply this solution to the calculation of the proportion of newly built dwellings with web scraped data on Luxembourg, and I run a counterfactual experiment and a Montecarlo simulation to confirm the findings. The results show that the extent of content removal bias is relatively small if the scraping occurs frequently compared with the online permanence of the data; and that it grows larger with less frequent scraping.

About this journal

The journal is closed for new submissions.

Open Economics is a peer-reviewed Open Access journal, devoted to the publication of original research in all fields of Economics. The journal publishes research and review articles that cover all the areas of Economics, including:

Agricultural economics
Behavioral economics
Decision sciences
Demographics
Development economics
Econometrics and quantitative methods
Economics of Science
Energy and natural resource economics
Environmental and ecological economics
Experimental economics
Family, health and education economics
Financial economics
Game theory
Growth theory
Industrial organization
Informal (labor) markets
International economics
Institutional economics
Labor economics
Law and economics
Macroeconomics
Microeconomics
Monetary economics
Organized crime
Public choice
Public finance
Socioeconomics
Statistics
Transport and urban economics
Welfare economics

Similarity Check and Plagiarism Screening System

The editorial board is aware of growing problem of plagiarism and makes everything to ensure that the content published is original and trustworthy. All submitted manuscripts are checked in Crosscheck (initiative between iThenticate and CrossRef®).