Research

Can Expense Ratios Signal Performance? An Analysis of Equity ETFs & Mutual Funds (2020)

This study examines the impact of the emergence of exchange-traded funds (ETFs) as an alternative investment vehicle to mutual funds. As the number of ETFs continues to rise, I investigate potential risks and disadvantages posed by ETFs in comparison to traditional mutual funds. I compare the returns, performance, and expense ratios of ETFs to those of mutual funds. I find that expense ratios are positively correlated with actively managed mutual fund returns and that passive funds have outperformed active funds since their inception. There is downward pressure on mutual fund fees over time suggesting increased competition between mutual funds and ETFs. We also find, up to a certain threshold, actively managed funds are worth their costs.

Estimating Cell Growth with Machine Learning and Data Mining (2017)

In cells, growth is regulated by extracellular signals. When gene mutations prevent proper regulation, the result can be cancer. Understanding how extracellular signals impact the growth of cancer cells is critical to combating the disease. To better our understanding, the NIH-LINCS Program has designed an experiment to gather a high volume of data on the growth of cells when exposed to particular extracellular signals. However, in order to interpret the results of this experiment, an appropriate cell growth model must be developed and evaluated.

Does capital punishment have a deterrent effect? (2016)

This study examines whether capital punishment deters would-be murderers. Previous literature has claimed that for every execution, eight lives are saved; however, my research casts doubt on that figure. Since the reinstatement of capital punishment in 1976 (Gregg v. Georgia), we find no deterrent effect for counties having carried out less than fifteen executions. Only ten U.S. counties have met this threshold. This finding has legislative ramifications in a post-Gregg era, as it is widely accepted in the field of economics that the literature used to overthrow the death penalty moratorium (Ehrlich 1975) was flawed in its experimental design. These findings are significant in their ability to honestly inform policy concerning the death penalty in a post-Gregg era. We estimate that only one life is saved for every fifteen executions.

The Affordable Care Act and Insured Immigrants (2016)

We study the effect of the Patient Protection and Affordable Care Act (PPACA), known as the Affordable Care Act (ACA), on the number of immigrants with health insurance. From 2013 to 2014, coverage for all immigrants increased by 5.59 percentage points. These gains are mostly attributable to private healthcare enrollment. The Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA), passed in 1996, requires that all immigrants live in the United States for 5 years before they can access public healthcare. Because the ACA does not address the PRWORA, we predict that this trend will continue. This study is among the first of its kind to divide immigrants into two groups based on the 5-year rule. We offer evidence that the PRWORA’s 5-year rule must be addressed, particularly for poor immigrants who are disproportionality affected by the PRWORA, as the 5-year restriction extends to Medicaid.

Measuring the Effect of Capital Punishment on Murder Deterrence (2015)

In this study, we examined the deterrent effect of capital punishment at the count level. The longest-running county-level study to date, our analysis spanned 1977-2013. Regression analysis was performed using differenced and non-differenced fixed-effects models. We found little to no deterrent effect between the death penalty and the murder rate.

Why Fees Signal Performance: An Analysis of ETFs (2015)

Long-term returns were compared for mutual funds and exchange-traded funds (ETFs). The analysis included both active and passive strategies. We isolated ETF and mutual fund expense structures to determine returns. The relationship between fees and performance was examined. We found that mutual fund expenses do signal increased returns up to a certain point. ETFs, in general, perform better than mutual funds. However, during times of high volatility, ETF performance suffers due to fixed strategies during these periods.

Aggregating the Sands of Time: Small Consequence Decision Making and Intertemporal Choice (2013)

Thought processes were divided into short and wide formats to investigate the study of inter-temporal choice. Wide formats represent the bigger picture while short formats encapsulate smaller periods of time. We find that when setting goals, individuals who use small formats are more likely to follow through because they are looking at a day-to-day approach. Conversely, wide format processes utilize a longer time frame, allowing subjects to delay action.

The Causes of the Global Financial Crisis (2013)

Multiple accounts of the financial crisis, including memoirs, autobiographies, print, academic papers, interviews with officials, and film, were analyzed. An emphasis was placed on individuals' perspectives and motivations. The overall objective of the project was to identify those responsible for the financial crisis.

Micro-finance in Developing Countries (2011)

The goal of this project was to implement a micro-lending program in the Caribbean. We developed a Virginia Bioinformatics Institute (VBI) simulation capable of gauging the effects of micro-finance in a developing economy. Both the effectiveness and negative spillover effects of micro-lending were investigated. Finally, we identified considerations and circumstances that could be included in a VBI produced simulation.