Are Individuals Moving to States With Little to No Income Tax?

R.T. Young

R.T. Young, Ph.D. Business Economics

Are individuals moving from higher tax states to lower tax states?

The hotly-debated issue has two components.

First, how big is the movement of individuals between states? Is the shift something worth worrying about?

Second, could taxes be a possible explanation for the movement of individuals from one state to another? In particular, is income tax a major culprit?

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How the United States Grows

Kristine Barseghyan

Kristine Barseghyan, Ph.D. (ABD) Social Sciences

Theoretically, the United States could accommodate 86.7 billion people at density of New York City. Texas alone could accommodate a population of 6.9 billion; together with New Mexico, it could host the world population of 10.9 billion by the end of the 21st century.[i]

Since the Post–World War II Baby Boom, the U.S. population growth rate has been declining. In 2012-2013, it increased only by 0.71 percent after averaging 0.9 percent growth in the last decade.[ii] According to current projections, the net international migration will become the driver of population growth in 2032 (Figure 1).[iii]

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More borrowers make early loan repayments in spring

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

In a post some time ago, we studied seasonal patterns in loan default rates. At the same time, early loan repayments are relatively common, amounting to more than 15 percrent of all loans in the western states. And since early loan repayments are usually voluntary decisions (unlike defaulting on loans), it would be especially interesting to see if we can find any seasonal patterns here.

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How Does the Presence of a Major Employer Affect Crime Rates?

Jeffery Green

Jeffery Green, J.D., Ph.D. (ABD) Political Science

On October 12, 2002, known locally as “Black Friday,” the Maytag Corporation announced plans to close a 1,600-worker refrigerator factory in Galesburg, Illinois. On “Black Friday,” Maytag announced it was transferring much of its production to Reynosa, Mexico, where Maytag had just opened its first non-U.S. factory. This was much like any other story of offshoring manufacturing which had occurred throughout the 1990s in the post-NAFTA era. However, what struck a chord in Galesburg was that Maytag leaving marked the proverbial final nail in the civic coffin of what had been a town who had focused on two main industries: the railroad with Burlington Northern-Santa Fe operating a massive rail yard on the South end of town, and numerous manufacturers such as Gates Rubber, Gales Manufacturing, Butler Manufacturing and Maytag, which had provided countless well-paying union jobs for people right out of high school. What stung even more was that Maytag – whose facility sat on the edge of town and acted as a metaphorical cornerstone between the corn and bean fields which lay to the south and west of town – had previously extracted a massive price from the town to stay. Making the sting much worse was that this came on the heels of Maytag constructing a brand new facility in the early 1990s with the benefit of huge tax incentives, which had smoothed over threats of the manufacturer leaving. It is estimated that the town had invested nearly $10 million into keeping the employer in the city in the previous decade.

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Borrowers in the West repay faster

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

It is no secret that some people prefer to repay their debts once they are able to, instead of waiting for the due date. Let’s see if this philosophy applies to the peer-to-peer lending market.

Here we focus on the both major P2P lending marketplaces in the U.S.: Lending Club and Prosper. We also define the early repayment rate to be the percentage of all loans currently active which have been repaid at some age (in months since the origination date).

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