Jones College

This paper examines the effects of targeted credit rationing by banks on firms likely to generate negative externalities. We exploit an initiative of the U.S. Department of Justice, labeled Operation Choke Point, which compelled banks to limit relationships with firms in controversial industries. Using supervisory loan-level data, we show that, as intended, targeted banks reduced lending and terminated relationships with affected firms. However, most of these firms fully substituted credit through nontargeted banks under similar terms. Overall, we find no significant shifts in the performance and investment of affected firms, suggesting that targeted credit rationing is widely ineffective in promoting change.

The National Science Foundation (NSF) Improving Undergraduate STEM Education (IUSE) GEOPAths program sponsored the Geo-SPARCC (Geosciences Streamlined Pipeline And Research for Community Colleges) project, which designed online, place-based physical geology and historical geology lecture and laboratory courses that were made available to all Mississippi community colleges through the Mississippi Virtual Community College consortium. The project was evaluated through pre- and post-surveys of students for content knowledge, end-of-semester surveys for student course satisfaction, student course enrollment data, and longitudinal state data for program and course effectiveness. We documented learning gains among the students enrolled in the courses, some of which were significant. Two stable themes emerged from content analysis of student responses in the end-of-semester surveys: (1) Students thought the online course design worked well, and (2) students enjoyed learning content through the geology of their state. The Geo-SPARCC program encountered challenges with the COVID-19 (SARS-CoV-2) pandemic, the initial 3 + 1 course structure (separate 3 h lecture course + 1 h laboratory course), course enrollment demographics, and hidden advisor barriers to student enrollment. Geo-SPARCC successfully pivoted to provide 4 h combined lecture and laboratory courses and recruited students from four of the state’s 15 community colleges into the geology courses, with student enrollment paralleling Mississippi’s community college demographics by the project’s conclusion. While Geo-SPARCC demonstrated that the project design was sustainable—and the geology courses continue to be offered beyond funding—some challenges remain with enrollment beyond the host institution. However, student data indicate that the place-based course design can be transferrable to other states and regions.

Population aging impacts the utilization of health services, especially in Emergency Departments (EDs). A rising share of older adults in the US report ED use, especially frequent ED use, defined as >= 4 visits annually. Prior works have examined frequent utilization of EDs among geriatric populations, but no study has focused on age-based trends or examined type of ED care sought by different age groups. Thus, using the 2017-2019 State Emergency Department Databases (SEDD), we examined how types of ED care influenced frequent ED utilization among geriatric patients in Maryland across the three age groups of youngest-old (65-74), middle-old (75-84), and oldest-old (85 and above), after controlling for covariates. Types of ED care included emergent, primary-care-sensitive conditions (PCSC), injuries, and behavioral conditions which were identified using the New York University-Johns Hopkins University Emergency Department Algorithm. Over the study period, frequent geriatric users made up 13.86% and 3.68% of all ED visits and ED patients respectively. The probabilities for being a frequent user was the lowest for nonsevere injuries (2.3%-2.7%) and the highest for care related to alcohol, drug, and psychological disorders (ADP: 5.0%-8.7%). The youngest-old and middle-old had a higher predicted probability of visiting the ED frequently for PCSC (4.1%) compared to the oldest-olds (3.8%). The youngest-old had the highest predicted probability of visiting the ED frequently for ADP (8.7%), while the oldest-old reported the highest predicted probability of visiting the ED frequently for severe injuries (3.7%). These findings are critical to healthcare stakeholders to better understand the heterogeneous medical needs of the different older adult age groups. 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El envejecimiento de la poblaci & oacute;n impacta la utilizaci & oacute;n de los servicios de salud, especialmente en los Departamentos de Emergencia (DE). Una proporci & oacute;n cada vez mayor de adultos mayores en los EE. UU. informa el uso de DE, especialmente el uso frecuente de DE definido como >= 4 visitas al a & ntilde;o. Trabajos anteriores han examinado la utilizaci & oacute;n frecuente de DE entre las poblaciones geri & aacute;tricas, pero ning & uacute;n estudio se ha centrado en las tendencias basadas en la edad o ha examinado el tipo de atenci & oacute;n de DE buscada por diferentes grupos de edad. Por lo tanto, utilizando las Bases de Datos del Departamento de Emergencia Estatal (SEDD) 2017-2019, examinamos c & oacute;mo los tipos de atenci & oacute;n de DE influyeron en la utilizaci & oacute;n frecuente de DE entre los pacientes geri & aacute;tricos en Maryland en los tres grupos de edad de los m & aacute;s j & oacute;venes (65-74), los de mediana edad (75-84) y los de mayor edad (85 y m & aacute;s), despu & eacute;s de controlar las covariables. Los tipos de atenci & oacute;n de DE incluyeron condiciones emergentes, sensibles a la atenci & oacute;n primaria (PCSC), lesiones y condiciones de comportamiento que se identificaron utilizando el Algoritmo del Departamento de Emergencia de la Universidad de Nueva York-Universidad Johns Hopkins. Durante el per & iacute;odo de estudio, los usuarios geri & aacute;tricos frecuentes representaron el 13,86% y el 3,68% de todas las visitas al DE y los pacientes del DE respectivamente. Las probabilidades de ser un usuario frecuente fueron las m & aacute;s bajas para lesiones no graves (2,3-2,7%) y las m & aacute;s altas para la atenci & oacute;n relacionada con el alcohol, las drogas y los trastornos psicol & oacute;gicos (ADP: 5,0-8,7%). Los ancianos m & aacute;s j & oacute;venes y de mediana edad tuvieron una mayor probabilidad prevista de visitar el DE con frecuencia para PCSC (4,1%) en comparaci & oacute;n con los ancianos m & aacute;s mayores (3,8%). Los ancianos m & aacute;s j & oacute;venes tuvieron la mayor probabilidad prevista de visitar el DE con frecuencia para ADP (8,7%), mientras que los ancianos m & aacute;s mayores informaron la mayor probabilidad prevista de visitar el DE con frecuencia por lesiones graves (3,7%). Estos hallazgos son fundamentales para que los actores de la atenci & oacute;n m & eacute;dica comprendan mejor las necesidades m & eacute;dicas heterog & eacute;neas de los diferentes grupos de edad de adultos mayores.

The growing presence of FinTech and shadow banks could have spillover effects on bank lending. We study this possibility in the context of small mortgages, which are low balance mortgages primarily originated by brick-and-mortar banks and retained in their portfolios. Using a shift-share instrument while testing for confounders, we find that areas more exposed to FinTech and shadow bank growth have significantly higher small mortgage denial rates. Through subsample analyses, we find that reduced CRA requirements and contraction in bank presence are the likely causal mechanisms. Further analyses show a corresponding reduction in small mortgage origination as well as lower owner occupancy shares among originated small mortgages. Overall, our results suggest that the rise of FinTech and shadow banks plays a role in the declining availability of small mortgages, potentially contributing to lower homeownership rates among less affluent households.