Economics

Session I

Mira Deni, "Analyzing the Discussion of Trade Adjustment Assistance in the Mid 1990s"

This project explores U.S. labor policies that were implemented to address the negative effects of international trade. Currently a vast amount of literature exists about the potential downsides of international trade, such as the displacement effects. There is a gap though in research on policies in the labor market that are used to address these potential effects. The research will focus on exploring labor market adjustment policies throughout U.S. history, like the Social Security Act of 1935, the Area Redevelopment Administration of 1961, the Trade Adjustment Assistance program of 1962, and other state-specific programs. The project involved a literature review that studied the effects of policies and will help to provide important information to the professor leading the research. The analysis gathered will be used to help further the professor's goal in the long run of creating a comprehensive set of adjustment policies for certain locations. 

Student Major(s): Economics

Advisor: Dr. John Lopresti

Chris Duffy, "2025 United States Automotive Tariffs: Protective or Problematic"

Tariffs are the quintessential policy tool used to encourage domestic production by increasing costs of foreign products. The most prominent example of tariff policy reform in modern history began in April 2025 under the Trump administration. Tariffs increased by double-digit percentages, and goods that incorporate many inputs in production, such as automobiles, are most affected. This project uses data and publications from the United States federal government to explore how this administration’s trade policy has affected the domestic automotive industry within three months of implementation. This work contextualizes how the 25% tariff on cars, their parts, steel, and aluminum have affected the automotive industry. The changes in U.S. exports, imports, and employment are used to evaluate the success of the policy. These findings apply to future U.S. trade policy surrounding the automotive industry. This project concludes that President Trump’s trade policy has not accomplished its stated goals in the short term.

Student Major(s): Economics

Advisor: Dr. Abhiprerna Smit

Adam Lederman, "The Effect of E-Invoicing on Tax Revenue and Compliance in El Salvador"

This paper evaluates the early effects of El Salvador’s staggered rollout of mandatory e-invoicing on value-added tax (VAT) revenue and compliance. I use published firm-level administrative tax data from 2021 to 2025 and a modern statistical method that compares firms affected by the reform to those not yet treated. I find no significant gains in tax revenue or compliance among larger firms, likely due to preexisting digital adoption and already high baseline compliance. Overall short-run effects are limited, as El Salvador’s smallest firms are not yet mandated at the time of writing. These findings suggest that while e-invoicing may not yield immediate fiscal gains, it can support El Salvador's long-term goals of administrative modernization and tax base expansion. This study contributes to growing evidence of mixed results following e-invoicing tax reforms in low-enforcement capacity settings and offers insights for policymakers considering similar reforms.

Student Major(s): Economics, Applied Mathematics

Advisor: Dr. Andrew Dustan

Parah Shaw, “The Evolution of Black Homeownership and Real Estate Professionals in the U.S.”

This project will explore the context of Black American life throughout history and how those events affected homeownership rates. It looks at how laws, policies, and discriminatory practices, from redlining and unequal access to federal housing programs, were used to block Black Americans from building wealth through property. This research establishes a connection between historical injustice and contemporary disparities by situating these obstacles within the context of Reconstruction, the Great Migration, and the Civil Rights Movement. It also explores how the lack of homeownership has affected economic stability and social mobility in the Black community for generations. At the same time, it highlights the resilience of Black realtors, homeowners, and advocates who fought to create opportunities despite systemic exclusion. By integrating historical analysis, data, and lived experiences, this project demonstrates how housing inequality continues to influence the real estate industry.

Student Major(s): Business and Africana Studies 

Advisor: Dr. John Parman 

Michael Wang, "Carbon Capture: Sooner or Later"

This project examines the time impact of investment on carbon capture and storage (CCS) in hard-to-abate industries in the United States i.e. industries that contain unavoidable process emissions such as the cement, steel, and chemical industries. This was accomplished qualitatively by reviewing the existing literature and quantitatively by applying existing models to emissions data. I take the position that sweeping investment is required immediately in order to reach climate goals. Further implications include discussion on the end user cost of products produced in plants with CCS, and the co-benefits of innovation in CCS.

Student Major(s): Economics, Math

Advisor: Dr. Rui Pereira

Session II

Justin Feira, "Ski Resort Market Consolidation and Its Effects on Ski Towns Economies"

This project examines the impact of market consolidation in the ski industry on the economic and housing conditions of North American ski towns, with particular attention to the differences between corporately owned and independently operated resorts. Over the past decade, conglomerates such as Vail Resorts and Alterra Mountain Company have rapidly expanded their holdings, introducing large-scale capital investment and broad season pass systems like the Epic and Ikon Passes. While these developments have increased skier traffic and regional visibility, they may also bring significant changes to local economies—particularly regarding housing affordability, availability of long-term rentals, and the rise of second-home ownership. Through a comparative case study approach, this research will analyze publicly available data on housing markets, seasonal and permanent residency trends, and local economic indicators to assess whether corporate consolidation strengthens or destabilizes the economic health of ski-dependent communities. These findings will provide local policymakers with data-driven insights to guide proactive measures that protect both the local economy and workers in the event of corporate acquisitions.

Student Major(s): Economics

Advisor: Dr. Shi Qi

Joseph Kang, "Unrecognized Trade: Somaliland and Transnistria"

The fall of the Soviet Union in 1990 created several unrecognized states, such as the Moldovan breakaway state of Transnistria and the Somalian breakaway state of Somaliland. This research uncovers how the lack of diplomatic recognition from any U.N. member state has impacted these two contemporary states’ international trade. The strategy that judges diplomatic recognition’s influence on inter-state trade records the standard trading relations between U.N. states that recognize one another and compares their economic regulations, trading volumes, and trading risks with countries that do not recognize one another. Quantities from published government records and qualitative observations from journalistic sources are compiled with publicly accessible books and websites. Individuals involved in commercial relationships with unrecognized states’ institutions may benefit from the information gathered, such as notes on their characteristic trade deficits and lack of bilateral regulatory agreements and investments.

Student Major(s): Biology, Economics

Advisor: Dr. David Feldman

William Palumbo, "The Impact of Forced Labor Within the Modern Agricultural Industry"

What impact does forced labor have on an American consumer’s supply of agricultural goods? This research compiles literature review and data collection from FAOSTAT, NASS QuickStats, the Economic Research Institute, and ILAB’s “List of Goods Produced by Child Labor or Forced Labor” to understand meaningful risk factors as well as the proportions of goods within the US that are produced by exploitation. While results do indicate a presence of domestic slavery, nation-wide data remains largely the product of estimation. Nonetheless, the quantity of US imports known to be touched by forced labor suggests a stain of slavery on many agricultural goods. In particular, consumers’ supplies of green coffee, chillies, and palm oil show disproportionate concentrations of forced labor. Findings infer a pressing need for renewed import standards, stronger international enforcement, and innovative solutions for the eradication of modern slavery both in agriculture and throughout the global value chain.

Student Major(s): International Relations (intended)

Advisor: Dr. Peter McHenry