Economics of Race, Gender, and Sports

Johnny Ducking and I are co-editing a special issue of the Journal of Economics, Race, and Policy which will look at current and historical issues that intersect economics with race or gender, and sports. The intention is that this call for papers will seek scholarly work on a range of topics that relate to gender or race in professional as well as amateur sports, which include both the traditional North American big-4 sports of football, baseball, basketball, and hockey as well as international sports. The call is open to, but not limited to, studies which explore access and equality of opportunities and outcomes in sports, how sports teams and associations have tried to increase the diversity of their sport and fan base, and the socioeconomic ramifications of those actions. More information can be found in the call for papers.

University of Arkansas

Thank you to Rhet Smith and everyone in the economics and finance department at the University of Arkansas (Little Rock) for their great feedback on my paper “Macroeconomic Shocks and Racial Labour Market Differences”, which was presented today (spearheaded by Kuhelika De) in their department seminar series.

New Working Paper

My new paper, “Oil Shocks and the US Economy: Evidence from a FAVAR Model”, with Kuhelika De (GVSU) and Dan Giedeman (GVSU), is now available as a SSRN Working Paper.

Abstract:

We investigate the economic effects of three separate types of oil price shocks on the U.S. economy using a factor augmented vector autoregression framework and 185 monthly macroeconomic indicators from 1978 to 2017. We find that while increases in the price of crude oil triggered by oil supply shocks and oil demand shocks lead to a significant and permanent increase in the U.S. price level, the main drivers of fluctuations in the price of crude oil and the U.S. price level are oil-specific precautionary demand shocks. Further, while increases in the price of oil triggered by oil supply shocks are recessionary and lower U.S. economic activity, those triggered by oil demand shocks driven by global economic activity are associated with increased U.S. economic activity. We also find evidence that monetary policy-makers tighten monetary policy in response to oil demand shocks to mitigate inflationary effects, however we find no such evidence for oil supply shocks. Finally, we find the U.S. dollar real exchange rate depreciates in response to increases in the price of oil caused by both oil demand and supply shocks, however the effects from oil supply shocks are more permanent.