Family businesses are some of the most important economic contributors in the United States, accounting for approximately 64% of the U.S. GDP. The family business model, which refers to any business with two or more family members on the board or in ownership, is a crucial and enduring part of business in the Seattle area and abroad. Historians have often pointed out that the family business model seems to be the base model for business and has thus been present since the beginning of organized business, often in the form of farms, merchant companies, banks, and other small businesses. Despite its prevalence, the family business model is far from perfect because of its numerous commonly encountered limitations. One of the limitations family businesses face is the challenge of succession, as only about 30% are able to succeed from the first generation to the second. Other limitations relate to growth, sustainability, and qualification problems. This study, conducted as a literature review, uses a combination of peer-reviewed articles and popular sources (chosen based on criteria of relevancy and prominence) as quantitative data to examine the consensus of family businesses in Seattle and the solutions that have been proposed to address these limitations. Interviews with family business owners in the Seattle area were also conducted to provide qualitative data and to highlight specific opinions. The economic and historical implications of Seattle family business are also discussed. This research aims to provide insight into otherwise costly financial, succession, and leadership difficulties in order to ensure that the family business model is an enduring contributor to the Seattle economy. Having the proper knowledge on how to approach these difficulties and reconcile with their seemingly conflicting nature can help family businesses in the Seattle area thrive while working through complicated business situations.

Affordable housing has recently emerged as a central focus of many policymakers’ agendas, especially in big cities, and they have implemented a variety of reforms to address this. In Seattle, the Mandatory Housing Affordability (MHA) program was rolled out in 2017, and then implemented citywide in 2019. The MHA created zones within the city, with new developments in MHA zones required to either build a certain number of rent-restricted affordable housing units for low-income people, or pay into a fund for affordable housing. Studies have shown mixed impacts of programs like the MHA on the housing supply; research about the impacts of such programs on housing and especially rent prices, however, is limited. Additionally, there is evidence that the effects of such policies are heterogeneous, varying by location and other factors. In this paper, I test for changes in rent and housing prices in Seattle overall using a difference-in-differences analysis. I also test for spatial variation within Seattle in these rent and housing prices by comparing MHA zones with non-MHA zones. The implications of these results will be important in addressing the next steps in housing policy. Since the MHA was a novel program in the inclusionary housing policy space, analyzing its effectiveness is crucial to determining how future policies should be shaped.

Despite the extensive literature on Canada and European countries, there is relatively little research on paid maternity policies in U.S. states due to its recency. Economic theory would suggest that fertility rates would increase with a paid maternity leave policy as the cost of having a child would be effectively subsidized. A strong family leave plan could be the deciding factor for many families to have a child. However, current research is inconclusive with there being no studies on U.S. fertility rates specifically in mind. The goal of my research is to provide insight on the way in which the U.S. fertility rate may be affected by paid leave programs. To accomplish these goals, I will be studying the implementation of paid maternity leave in Washington state specifically. I will be using a difference in difference method to measure the effect of this policy. I will be using data from the National Center for Health Statistics and the American Community survey for my fertility rate estimates. My research is in progress; however, I would expect either slight or no change in fertility rates in Washington based on previous research in the field. The goal of this research is further insight to nationwide implementation of this program by analyzing a specific possible implication of this policy and to contribute to the literature of paid maternity leave on fertility rates.

This study explores the impact of recent exchange rate fluctuations between China and the United States on Washington state agricultural exports to China. The substantial change in exchange rates, with the U.S. dollar appreciating against the Chinese yuan, has the potential to significantly affect Washington's agricultural exports to China. Given that almost one-third of the state's agricultural products are exported, with a substantial portion heading to Asian markets, particularly China, understanding the implications of exchange rate changes for Washington farmers is crucial. Therefore, this research also aims to investigate the effects of changes in the yuan/dollar exchange rate on the average income of Washington farmers and the prices of top agricultural commodities in the state. I analyze these effects by collecting data and constructing and estimating an empirical model. The results can provide valuable insights for policymakers, businesses, and stakeholders involved in the agricultural trade relationship between Washington and China.

This paper quantifies the impact on the South Korean Cultural Entertainment Industry (CEI) after China's "Korea Limitation Order". In November 2016, Beijing restricted South Korean artists to hold concerts and the broadcast of South Korean TV dramas, also banned cooperation between the two countries in the entertainments industries. This paper examines the effect did this had on exports of cultural products from Korea, and how Korea was able to adjust to this Geopolitical shock. I examine exports from Korea, to China, Japan, and the United States: Data from Cultural Entertainment Industry Products Exports, tangible or intangible goods that can create economic added value, such as Korean music and Filming Industries, and South Korea inbound foreign tourism statistics during 2011-2019 were collected. Deriving the deviation from an estimated autoregressive moving average (ARMA) model specification of exports from Korea after the “Korea Limitation Order,” in Difference-in-Difference (DID) Model, I found that South Korea's tourism industry has been particularly affected, with the most significant decline compared to the other two countries. At the same time, in the tourism industry, the substitution effect of Japanese market for the Chinese market is clear to see. The film and broadcasting industries have seen similar but less dramatic declines than tourism industry. There is no evidence that sectors of the cultural industry that are not included in this restriction category such as cartoon industry, are impacted by this shock.

In my research, I aim to analyze the impact certain tax global policies have on economic development depending on the countries' initial industrialization level. Using the development indicators published by the World Bank, among other sources, I will assess both a countries industrialization level and the impact of the tax policies. My research methods will combine theoretical economic frameworks with global, macroeconomic, and survey data. My unique approach will consist of statistical and historical data, looking into a variety of expert fields like health and education to assess the country. Thus, this paper will take an interdisciplinary approach to assessing economic conditions and policy impacts. Participating in this research will contribute to my transformative education by analyzing real world data and deriving policy recommendations. My work aims to advance our understanding of how tax policies impact both local and global development, with the ultimate goal of contributing to the design of more effective targeted tax policy. In this research, I expect one of two findings. Global tax policies that work well in industrialized nations work similarly or equally well in developing countries. Global tax policies that work well in industrialized nations fail to achieve the same results in developing nations. This concludes that tax policy recommendations have to be adjusted according to the industrialization level of the country.
 

This thesis discusses the impact of the Washington State Ferry (WSF). It provides the background of Washington State Ferry since COVID-19 and talks about the challenges that Washington State Ferry faced. Washington State Ferries are the primary public transportation between the San Juan Islands and Anacortes. The disruption of Washington State Ferries challenges San Juan Island's local economy. The paper aims to find how Washington State Ferries affects local short-term tourism by measuring tax revenue, business sales, and mobility. It uses regression models to study how the number of WSF cancellations, average delay times, ridership, and COVID-19 affect local businesses. The study compares the period before, through, and post-COVID-19 to prevent bias and to find out the actual impact of WSF. In conclusion, the research allows people to understand the importance of public transportation and provides some possible reasons for changes in the local economy.

The technology industry has developed rapidly since the last decade of the 20th century. It has provided a large amount of job positions for cities. However, when society was getting back to the pre-pandemic condition in 2022, the tech industry announced layoffs. More than 188,568 workers were unemployed in the United States. My research focuses on the indirect effect of mass tech layoffs. The indirect effect is the employment changes of other companies in the same community as the firm that announced the layoffs. In other words, the indirect effect measures the impact on the locals. The research topic is to analyze the short-term effect of technology industry layoffs in 2022, focusing on the indirect effect on the labor market. I measured the relationship between every sector’s employment, except the technology sector, and tech layoffs in this city using fixed effects models. After layoffs, numerous unemployed people are looking for jobs. Many people have to find other jobs to support their family or themselves. They are more likely to look for jobs in the same city because it is the easiest way to overcome adversity. Therefore, employment in other companies will increase. The anticipated result is that the correlation is positive, meaning when layoffs happen, employment in other non-tech industries will increase.

The war in Ukraine has resulted in a high number of refugees fleeing to nearby countries. The literature on the economic effects followed by such migration is very limited. In particular, the effects of the influx of refugees on the labor markets of host countries are broadly researched. The purpose of this study is to analyze such effects in the context of Poland and Ukrainian refugees. This study investigates the effects of labor supply shocks caused by refugees on Poland’s labor market outcomes. Analysis was conducted using data on Ukrainian refugee migration within Poland, and the labor market factors such as wages and employment. The findings of this research help to have a clearer understanding of the expected effects on labor markets in similar refugee situations as Poland. Recognizing these effects can help countries be more prepared when facing labor market supply shocks which is beneficial for both the host country and the refugees.