The Surprising Link Between Labor Productivity and Government Spending Unraveled
In an unexpected twist at the University of Findlay’s 19th Annual Symposium for Scholarship & Creativity, first-year students Hayden Hiser and Cameron Davis captivated the audience with a groundbreaking analysis on the intricate relationship between labor productivity and government spending.
Breaking New Ground
At the symposium, which gathered over 50 oral presentations and nearly 100 poster sessions, Hiser and Davis stood out. These ambitious freshmen dared to question academic norms by flipping the script on the usual exploration of how government spending affects productivity. Instead, they probed deeper, wondering whether increased productivity might actually incentivize higher government expenditures.
An Interdisciplinary Approach
Approached by their economics professor, Dr. Tuan Le, Hiser and Davis took on this challenging project with enthusiasm. Hiser’s finance acumen combined with Davis’s pre-med focus and business insights created a unique interdisciplinary team dynamic. This blend allowed them to approach the topic with diverse perspectives, ultimately leading to a richer and more robust analysis.
Methodology and Findings
The duo delved into national data, drawing over 250 quarterly observations from the Federal Reserve Economic Data (FRED) database. They applied various economic models, including OLS regression and VAR, to explore correlations. Their findings revealed that increased productivity could indeed lead to increased government spending, especially in crucial sectors like education, healthcare, and infrastructure.
Davis highlighted the comprehensive literature review process, acknowledging the challenge of sifting through complex economic theories and historical data correlations. “We got through the rigorous data manipulation and theory application, thanks to timely guidance from Dr. Le,” said Davis.
Beyond Immediate Goals
Not only did this project allow them to apply academic theories practically, but it also fostered an appreciation for interdisciplinary approaches. As Hiser noted, “This research provided common ground for our distinct academic interests; it was a real intersection of our aspirations.”
A Vision for Future Research
The project leaves intriguing avenues for future research, particularly the exploration of productivity-spending relationships across different nations and time periods. As stated in University of Findlay The Pulse, this could significantly influence future policy formation aimed at sustainable economic growth.
An Endeavor of Intellectual Passion
Their dedication is reflective of the symposium’s spirit — that intellectual curiosity knows no bounds. As Hiser and Davis continue their academic journeys, they plan with confidence for more research projects, emboldened by this formative experience.
“We’re genuinely proud of our work and excited for what comes next,” Hiser said with optimism.
With this kind of academic brilliance, it’s evident that the future is full of potential for these young scholars.
