This study revisits the growth effects associated with subnational fiscal policy. This, to my knowledge, is the first attempt to address the potential endogeneity of fiscal policy control variables. More specifically, the analysis used in this study implements a general method of moments spatial dynamic panel data model estimation procedure to arrive at a more refined set of estimates for the growth effects attributed to state and local fiscal policy. In deriving the estimable equation, this study extends a factor market approach for modelling regional output into a strategic interaction framework.JEL classification: H2, H3, H7, R5

Collegiate football may provide advertising for universities, attracting larger pools of applicants and leading to more academically qualified student bodies. Football may also build school spirit, reducing attrition and improving long-run graduation rates. This analysis uses data from 2001 to 2004 for available National Collegiate Athletic Association Division-1 institutions to examine the advertising and effectiveness effects of football. Using both general linear model and linear-in-means model estimation procedures, we find strong advertising and effectiveness effects for football in the full sample. Among schools fielding a football team, the impact of Football Bowl Subdivision and winning percentage is muddy; however, the advertising effect of bowl appearances is strong.

Most D-III universities field a football team, yet little is known about how a football program can influence the quality of the student body or rate at which students graduate. To evaluate these advertising and effectiveness effects of football, we build balanced panel data sets using available private D-III universities (80–90% of all D-III universities) from 2003 through 2010. We also account for overall athletic participation. Using generalized linear model (GLM) and linear-in-means estimation procedures, we find conditional evidence of the advertising and effectiveness hypotheses of football. We find that female athletes are successful as advertising and effectiveness, while male athletes are negative advertising and of neutral to negative effectiveness.