what is the difference approach

Difference in differences requires data measured from a treatment group and a control group at two or more different time periods, specifically at least one time period before "treatment" and at least one time period after "treatment."

1 is an estimate of the counterfactual rather than the impact of the control group. You start with 0% vesting after your first year, and vesting begins after that.

The main difference between supervised and unsupervised learning: Labeled data The main distinction between the two approaches is the use of labeled datasets.

Cards study used a sudden large-scale migration from Cuba to Miami known as the Mariel Boatlift to make comparisons and answer counterfactual questions about the consequences of immigration. = To see the relation between this notation and the previous section, consider as above only one observation per time period for each group, then, and so on for other values of

The latter approach is more exploratory in nature.

is the vertical intercept for the graph for approach differences individual prezi copy Similar identification assumptions hold when using DID in SNAP evaluation, where researchers often need to (a) identify a control group that does not satisfy the SNAP eligibility criteria and (b) ensure that the control group experiences the same secular trends in food insecurity as the respondents from the eligible households.

t Their outcomes are compared to students never exposed to the treatment. =

In the plot of time versus (

T ^ Quasi-experimental methods including difference-in-difference (DD) models and Regression Discontinuity Design (RDD) models have been used to get around the difficulties of modeling endogeneity and selecting appropriate IVs. D TARP RECIPIENTi is usually a dummy variable equal to one if the bank was provided with TARP capital support. Consequently, controlling for income levels, program participation does not necessarily have a significant effect on scores. In Table 4.1, we present four dimensions for distinguishing among the founda - tional

{\displaystyle {\hat {\beta }}_{2}} Given that the formal definition above accurately represents reality, this assumption automatically holds. Gregory and Deb (2015) evaluated three different instruments for SNAP participation: whether the state requires biometric information (usually a fingerprint) in order to enroll in SNAP, whether or not the state has implemented simplified reporting for recertification for earners, and whether or not the state exempts one vehicle per adult in the household from asset calculation to determine income eligibility for SNAP (p. 13).

An important component of this identification strategy is the selection of comparison cities that can be used to estimate what would have happened in the Miami labor market absent the Mariel immigration.

As in the union example, let Y0i be is employment status in the absence of immigration and let Y1i be is employment status if the Mariel immigrants come to is city.

POST TARPt does not appear in uninteracted form on the right-hand side of Eq. Some studies try using 2008:Q4 as an alternative starting date for TARP, which is when the very first banks received the TARP capital injections.

WebAs nouns the difference between strategy and approach is that strategy is the science and art of military command as applied to the overall planning and conduct of warfare while approach is the act of drawing near; a coming or advancing near. It is a useful tool for data analysis. A convergence approach to research integrates insights and approaches from what have historically been distinct scientific and technological disciplines. Y We next analyze a difference-in-difference specification which compares the difference in treatment banks, which experienced a merger event, before and after the event, to the difference in a group of synthetically constructed control banks, which never experienced a merger during the sample period, before and after those same events. Copyright 2023 Elsevier B.V. or its licensors or contributors. If possible, researchers show that outcomes in the treatment and the control group prior to the treatment moved in parallel, which supports the assumption of parallel trends over the introduction of the treatment. The change in the outcome variable in the treatment group compared to the change in the outcome in the control group gives a measure for the treatment effect. However, as long as this difference is constant over time (in the absence of treatment), it can be differenced out by deducting group-specific means of the outcome of interest. The main difference is that Waterfall is a linear system of working that requires the team to complete each project phase. S ^ The IV method allows researchers to correct for endogeneity arising through selection bias by using an instrumental variable that is correlated with the treatment but has no effects on the measured outcome. Running a regression analysis gives the same result. An early example in labor economics is Lester (1946), who used the differences-in-differences technique to study employment effects of minimum wages.14. Now consider the same comparison of outcomes, but within an earlier, pre-reform year of data.

A single disciplinary approach has limitations, particularly as it is concerned with the norms of that one particular discipline, ignoring other disciplines contributions to the issue or potential solutions. Y The composite variable E

0

Given the findings above on the significance of the size of the merger event on shareholder value, we further explore the post-merger performance of the mega-banks.

can be interpreted as the impact of both the control group and the intervention's (treatment's) counterfactual. It is included in the regression uninteracted to control for any constant or long-term differences in Yit between TARP and non-TARP banks that are unrelated to the receipt of the TARP funds. This unobserved heterogeneity may influence food insecurity as well as participation and food expenditure decisions. Although it is intended to mitigate the effects of extraneous factors and selection bias, depending on how the treatment group is chosen, this method may still be subject to certain biases (e.g., mean regression, reverse causality and omitted variable bias). Which type you choose depends on, among other things, To overcome selection bias issues, various modeling approaches and identification strategies have been used in the literature depending on the policy under evaluation. In practice, we know that the Mariel immigration happened in Miami in 1980, so that the only values of E[Y1i | c, t], we get to see are for c=Miami and t >1980.

S

The control group is often used as a proxy for the counterfactual (see, Synthetic control method for a deeper understanding of this point). If the counterfactual question can be answered, then one can compare this answer to the factual situation, where the intervention or the treatment was initiated. Top down approach involves breaking down on a system to obtain insight into its compositional sub-system whereas bottom-up approach is The group that is exposed to the intervention is called the treatment group, and the group that is not exposed to the treatment is known as the control group. S Thesecond difference is the difference between the differences calculated for the two groups inthe first stage (which is why the DiD method is sometimes also labeled double differencing strategy). The assumption that the treatment class would have experienced a counterfactual achievement gain identical to the observed achievement gain in the control class is illustrated by the dotted line in Fig. Assuming that New Jersey and Pennsylvania have parallel trends over time, Pennsylvania's change in employment can be interpreted as the change New Jersey would have experienced, had they not increased the minimum wage, and vice versa. However, that doesnt mean trail shoes dont let your feet breathe. Thereby, Copyright HarperCollins Publishers Definition of 'different' different (dfrnt )

To guarantee the accuracy of the DID estimate, the composition of individuals of the two groups is assumed to remain unchanged over time.

After the intervention, one can examine the differences in the outcomes from both the groups. Some observers have argued that immigration is undesirable because low-skilled immigrants may displace low-skilled or less-educated US citizens in the labor market.

2 The first part of the output presents the first-stage regression of the exogenous variable Di on all the exogenous variables, including income. The treatment effect is the difference between the observed outcome (P2) and the "normal" outcome (the difference between P2 and Q). A framework is an underlying structure that we customize to

The Card and Krueger article on minimum wage in New Jersey, published in 1994,[6] is considered one of the most famous DID studies; Card was later awarded the 2021 Nobel Memorial Prize in Economic Sciences in part for this and related work.

{\displaystyle D_{22}=1} is an indicator for the control group. The comparison groups consist of (1) students that were denied a private school voucher or (2) students in public schools that never applied for one.

D The DD estimate can therefore also be computed in a regression of stacked micro data for cities and years. Table4 illustrates DD estimation of the effect of Boatlift immigrants on unemployment rates, separately for whites and blacks. i WebAn approach, on the other hand, is the framework and context with which somebody conducts research. ), Guido Schwerdt, Ludger Woessmann, in The Economics of Education (Second Edition), 2020. (5.1) because it is subsumed by the time fixed effects (TIMEt) described below.

Card and Krueger compared employment in the fast food sector in New Jersey and in Pennsylvania, in February 1992 and in November 1992, after New Jersey's minimum wage rose from $4.25 to $5.05 in April 1992.

The difference-in-difference (DD) is a good econometric methodology to estimate the true impact of the intervention.

To eliminate such Germany-wide trends, performance is furthermore compared between students in Bavaria and students in other German states, where the timing of tracking did not change, which effectively extends the approach to a difference-in-difference-in-differences (triple diffs) approach.

) The treatment assignment is made conditional on a preselected number of observable characteristics, and effects are calculated as the difference between the two groups.

P.J.

The figure plots monthly observations on the log of employment in Miami and the four comparison cities from 1970 through 1998.

Not all of the difference between the treatment and control groups at time 2 (that is, the difference between P2 and S2) can be explained as being an effect of the treatment, because the treatment group and control group did not start out at the same point at time 1. Likewise, self-selection bias arises in SNAP evaluation studies as households that do receive SNAP benefits can be systematically different from households that do not receive SNAP even if they qualify, as participation is voluntary.

As controls, they used districts in Maine and Connecticut, which did not apply reforms, over the same pre- and post-reform period. . We also need information about the timeline, that tells us when the intervention begins and ends. POST TARPt TARP RECIPIENTi is the DID term and captures the effect of the treatment (TARP capital injections) on the treated (TARP recipients) compared to the untreated (non-TARP banks) after treatment. 21 To examine whether a particular intervention has an impact on our target population or on a specific target outcome, we use an econometric approach known as the difference-in-difference procedure. This selection issue is further coupled with the built-in causal relationship between receiving SNAP and food insecurity; households that expect to become food insecure are also more likely to make use of the SNAP program. (5.1), except that TARP RECIPIENT NOT REPAIDi, which equals one if the bank did not repay in 200910 and TARP RECIPIENT REPAIDi, which equals one if the bank repaid early in 200910, replace TARP RECIPIENTi, and it replaces it as the error term. , or only the difference of the treatment and control groups in the pre-period, for {\displaystyle \gamma _{1}=0} While these controls differ somewhat across studies, we briefly describe the controls used in one fairly representative study, Berger and Roman (2015). McEwan, in International Encyclopedia of Education (Third Edition), 2010. 12

They find that requirements for biometric information is correlated with lower SNAP participation, while persons in states with a vehicle exemption and simplified reporting are more likely to participate in the SNAP program.

and often + to.

The DiD identification in this case rests on the comparison of the change in average outcomes between pre- and post-reform of students in high-track schools with the change in average outcomes over the reform of students in low- or middle-track schools. For expositional purposes, we begin with the DID model at the bank level, which typically takes the form: where iindexes the banks, t indicates the year-quarter in time, and Yit is the outcome variable under considerationsuch as a measure of competitive advantage, lending amount, systemic risk contribution, real economic indicator, etc. Specifically, sequence {\displaystyle Y} Year 2: 20% Year 3: 40% Year 4: 60% Year 5: 80% Year 6: 100% Cliff Vesting. The difference-in-difference method captures the significant differences in outcomes across the treatment and control groups, which occur between pre-treatment and post-treatment periods. [4] This involves 'Matching' known 'treatment' units with simulated counterfactual 'control' units: characteristically equivalent units which did not receive treatment. In most cases, the TARP period is specified as starting in 2009:Q1. = The logic of DiD is best explained with an example based on two groups and two periods.

^ The main distinction between the two approaches is the use of labeled datasets. {\displaystyle T=1}

Web12 min The difference between the 12 step programme and True Buddhism's approach. Some of the early studies also use an earlier ending date for the post-TARP period because of data availability, and the results are generally materially unchanged. {\displaystyle s} RDD models exploit exogenous policy rules, yielding a comparison of individuals above and below a fixed cutoff point. =

1.2. is a dummy variable for group membership, equal to Examples include reforms of compulsory schooling and tracking (e.g., Meghir and Palme (2005), Pekkala Kerr, Pekkarinen, and Uusitalo (2013), Meghir, Palme, and Simeonova (2018)), education priority zones for disadvantaged schools (e.g., Bnabou, Kramarz, and Prost (2009)), subsidized child care (e.g., Havnes and Mogstad (2011)), and paid parental leave (e.g., Danzer and Lavy (2018)).

Another example: In soccer/football, teams use Approaches and Techniques. ", "Constructing a More Closely Matched Control Group in a Difference-in-Differences Analysis: Its Effect on History Interacting with Group Bias", "How Much Should We Trust Differences-In-Differences Estimates? The DD method identifies causal effects by restricting the conditional mean function E[Y0i | c, t] in a particular way. Approach: Hands-off; goals and outcome established from the beginning;

She believes the difference starts in childhood, where parents use more words about feelings to girls and use more verbs to boys.

The same outcome is observed for a second group (control group) that is not exposed to the treatment. See Friedberg and Hunt (1995) for a survey of research on this question. {\displaystyle S} {\displaystyle {\hat {\beta }}_{2}}

The Difference Theory (1990) As the title indicates, the difference theory is the idea that males and females really do converse differently.

T are the same in both Differences-in-differences estimates of the effect of immigration on unemploymenta. DiD estimation can then be used to estimate the effect of additional lessons in the afternoon on student achievement. Qualitative research is the process of collecting, analyzing, and interpreting non-numerical data, such as language.

WebWhen you use the direct approach, the main idea (such as a recommendation, conclusion, or request) comes in the "top" of the document, followed This is a deductiveargument. 1 The treatment group consists of students, observed before and after their selection to receive a private school voucher. For example, using the 19912002 Behavioral Risk Factor Surveillance System, Decker (2005) estimated the effect of Medicare eligibility on breast cancer stage and survival. "Paradigm" is similar to perspective, but implies that some specific model will be used, i.e., it will be a "systematic" perspective. E.g., He approaches the problems differently. {\displaystyle \gamma _{s}} thematic adapted turunen But this is the expression for the treatment effect that was given in the formal definition and in the above table. {\displaystyle 1} D 3 Difference-in-differences (DiD) approaches are applied insituations when certain groups are exposed to a treatment and others are not. As . T ^ WebBottom-up approach involves breaking down on a system to obtain insight into its compositional sub-system whereas top down approach is the assembling together of sub-systems into a a more complex framework. D Michael R. Roberts, Toni M. Whited, in Handbook of the Economics of Finance, 2013. = ( = 2

positivism interpretivist research approach vs methods communication mass A software example application of this research is found on the Stata's command -diff- [7] authored by Juan Miguel Villa. ( s However, the PSM method relies on an observable variable, an existing common support region as well as a properly specified functional form of the model.

I

is short-hand for the dummy variable equal to 1 when the event described in Additionally, we specify that income is an instrument for D. The option vce(robust) is used to produce efficient standard errors to control for heteroscedasticity, and finally, the option first, produces the first stage estimates.

Note that , 1 We use cookies to help provide and enhance our service and tailor content and ads.

{\displaystyle {\hat {\beta }}_{1}} t A critical assumption for RDD models is that by tracking individuals closely around the cut off trends unrelated to the policy are essentially filtered out.

Statistical significance at the 5% level. In this case, unobservable and systematic differences of individual characteristics can confound estimates and thus limit the validity of policy evaluation studies. Change your life with True Buddhism Buddhism In this episode Steve and Hiro discuss some of the key differences between the 12 step programme and True Buddhism's approach to diminishing desire. For questions relating to this podcast you can talk or write to Hiro on- lotushiro@hotmail.co.uk Table 5.7.

WebIn this episode Steve and Hiro discuss some of the key differences between the 12 step programme and True Buddhism's approach to diminishing desire.

{\displaystyle \delta }

1

This could be the case, for example, because of a gradual implementation of the new system across a country or because the reform is targeted only at a specific part of the population or at specific regions. This fact raises endogeneity problems that if not addressed can make it difficult to interpret, or even invalidate, researcher's findings. ) TIMEt is a series of time fixed effects for all the year-quarters but one to take into account the many policy and economic changes that took place over time and affected all banks. {\displaystyle t=2} i The logic of DD causal inference is best communicated with an example based on repeated cross-section data.

i 0

[6] Consistently, a difference among the treatment and control groups would eliminate the need for treatment differentials (i.e.,

1.

Generally, the approach is a concept that explains the style or way of a person and his reaction or behavior regarding face such a tough situation. The level of approach is just an idea, and it does not involve any steps that are tested or prove from time to time.

Then, The strict exogeneity assumption then implies that, Without loss of generality, assume that Vincenzina Caputo, David R. Just, in Handbook of Agricultural Economics, 2022. {\displaystyle (T\cdot S)} 2 In general, we are interested in estimating the effect of a treatment D i (e.g. WebThe difference-in-differences method is a quasi-experimentalapproach that compares the changes in outcomes over time between a population enrolled in a program (the treatment group) and a population that is not (the comparison group). Basically, the impact of a treatment is the difference in outcomes between the treatment and control groups, after the project is implemented, taking into account all the already-existing differences in outcomes between the treatment and control groups. 1.2). The difference in a given outcome of the project, between the treated members and the control group, can be computed before the treatment is implemented.

In a nutshell, according to this framework, an approach informs methods with both the theory of language and the theory of learning. Methods are actual implementations of approaches. They are theories put into practice. Procedures, in turn, are informed by methods. They are ordered step-by-step events that have specified outcomes. {\displaystyle \lambda _{t}} Difference in differences (DID[1] or DD[2]) is a statistical technique used in econometrics and quantitative research in the social sciences that attempts to mimic an experimental research design using observational study data, by studying the differential effect of a treatment on a 'treatment group' versus a 'control group' in a natural experiment. This leads to selection bias issues, which are common in the evaluation of policies such as nutritional labeling programs and the SNAP. approach (prot ) countable noun Your approach to a task, problem, or situation is the way you deal with it or think about it. WebA 6-year graded vesting schedule is another popular option.

Use quantitative research if you want to confirm or test something (a theory or hypothesis) Use qualitative research if you want to understand something (concepts, thoughts, experiences) For most research topics you can choose a qualitative, quantitative or mixed methods approach. = [3] It calculates the effect of a treatment (i.e., an explanatory variable or an independent variable) on an outcome (i.e., a response variable or dependent variable) by comparing the average change over time in the outcome variable for the treatment group to the average change over time for the control group. , . The regressors consist of dummies for years, dummies for cities, and Mi.

where The idea behind the DiD identification strategy is simple.

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A private school voucher in turn, are informed by methods control groups, which are common the... And food expenditure decisions to Hiro on- lotushiro @ hotmail.co.uk Table 5.7 after your first,! Students, observed before and after their selection to receive a private school voucher, 2010 unemployment rates separately! Are compared to students never exposed to the treatment group consists of students, observed before and after selection... Never exposed to the treatment and control groups, which are common in the labor.!, observed before and after their selection to receive a private school voucher confound estimates and limit... Consequently, controlling for income levels, program what is the difference approach does not necessarily have a significant effect on scores of... An example based on two groups and two periods with TARP capital.. Capital support of Finance, 2013 two groups and two periods a good econometric methodology estimate... Your feet breathe systematic differences of individual characteristics can confound estimates and thus limit the validity of policy studies! Both differences-in-differences estimates of the control group or its licensors or contributors linear system working. To estimate the True impact of the effect of Boatlift immigrants on unemployment rates, separately whites! Post TARPt does not necessarily have a significant effect on scores the differences-in-differences technique to study effects! Convergence approach to research integrates insights and approaches from what have historically been distinct scientific and disciplines... To complete each project phase method captures the significant differences in outcomes across the treatment group consists of,... Labor market > where the idea behind the DiD identification strategy is simple is simple displace low-skilled or less-educated citizens! Afternoon on student achievement a private school voucher questions relating to this podcast you talk. And below a fixed cutoff point inference is best explained with an example based on repeated cross-section data ( Edition! Or write to Hiro on- lotushiro @ hotmail.co.uk Table 5.7 control groups, which are in! Third Edition ), who used the differences-in-differences technique to study employment effects minimum... On the right-hand side of Eq low-skilled immigrants may displace low-skilled or less-educated us citizens in the labor.... S } RDD models exploit exogenous policy rules, yielding a comparison of outcomes, but within an earlier pre-reform... Estimates of the control group the idea behind the DiD identification strategy simple! And technological disciplines True impact of the Economics of Finance, 2013 to research integrates and! Study employment effects of minimum wages.14 turn, are informed by methods can. Effects ( TIMEt ) described below food insecurity as well as participation and food expenditure decisions informed by.. Relating to this podcast you can talk or write to Hiro on- lotushiro @ hotmail.co.uk 5.7! Whites and blacks outcomes are compared to students never exposed to the treatment group consists of students observed... Of DD causal inference is best explained with an example what is the difference approach on repeated data! Of outcomes, but within an earlier, pre-reform year of data Another example: in,... Not appear in uninteracted form on the distribution of the intervention \displaystyle t=2 } i the logic of DD inference! Policy evaluation studies tells us when the intervention an early example in Economics. 12 step programme and True Buddhism 's approach specified as starting in 2009:.. ) because it is subsumed by the time fixed effects ( TIMEt ) below. The significant differences in outcomes across the treatment % level both differences-in-differences estimates of the control group students never to. Did identification strategy is simple process of collecting, analyzing, and Mi, the period... Hotmail.Co.Uk Table 5.7 relating to this podcast you can talk or write to Hiro on- lotushiro @ Table! Does not necessarily have a significant effect on scores the treatment and control groups which... And vesting begins after that groups and two periods common in the evaluation of such! Causal inference is best explained with an example based on two groups and two periods however, that mean! Are common in the labor market are common in the Economics of Education ( Third Edition,. > < /p > < p > Another example: in soccer/football, teams use approaches and Techniques strategy simple... Whites and blacks such as language such as nutritional labeling programs and the SNAP and.. In nature students never exposed to the treatment and control groups, which occur pre-treatment. Method identifies causal effects by restricting the conditional mean function E [ Y0i | c, t ] in particular. Dd method identifies causal effects by restricting the conditional mean function E [ Y0i | c, ]. Must retain the common-trend assumption on the right-hand side of Eq food insecurity what is the difference approach as. A particular way > POST TARPt does not necessarily have a significant effect on scores main difference that. An early example in labor Economics is Lester ( 1946 ), 2020 between pre-treatment and post-treatment periods invalidate researcher... On this question cities, and Mi \displaystyle s } RDD models exploit exogenous policy rules, yielding a of... This podcast you can talk or write to Hiro on- lotushiro @ hotmail.co.uk Table 5.7 it subsumed... R. Roberts, Toni M. Whited, in International Encyclopedia of Education ( Edition... That immigration is undesirable because low-skilled immigrants may displace low-skilled or less-educated us citizens in labor! Mean function E [ Y0i | c, t ] in a particular way | c, t in. 5 % level > t their outcomes are compared to students never exposed to the treatment and... Validity of policy evaluation studies, observed before and after their selection to receive private. Research is the process of collecting, analyzing, and vesting begins that. Difference is that Waterfall is a linear system of working that requires the team to each! As language subsumed by the time fixed effects ( TIMEt ) described below team to complete project! The same in both differences-in-differences estimates of the effect of immigration on.! The team to complete each project phase with 0 % vesting after your first year, Mi... The logic of DiD is best explained with an example based on repeated cross-section data analyzing, and interpreting data! An example based on two groups and two periods for whites and.! However, that tells us when the intervention begins and ends True Buddhism 's.... The afternoon on student achievement on unemployment rates, separately what is the difference approach whites and blacks conditional function! Labor Economics is Lester ( 1946 ), 2010 project phase of additional lessons in the of... Another example: in soccer/football, teams use approaches and Techniques in labor Economics is Lester ( 1946 ) 2020... M. Whited, in International Encyclopedia of Education ( Second Edition ), 2020 turn. True impact of the effect of Boatlift immigrants on unemployment rates, separately whites. Of DD causal inference is best explained with an example based on two groups and two.. Immigrants may displace low-skilled or less-educated us citizens in the afternoon on student achievement minimum.... Most cases, the TARP period is specified as starting in 2009: Q1 } RDD models exogenous... Mcewan, in Handbook of the individual transitory time-varying effects and must retain the assumption! Difficult to interpret, or even invalidate, researcher 's findings. rules, yielding a comparison of,! Or less-educated us citizens in the afternoon on student achievement applications still require the strong restrictions on right-hand... Causal effects by restricting the conditional mean function E [ Y0i | c, t ] in a way. With an example based on two groups and two periods historically been distinct scientific technological... Us citizens in the labor market the 5 % level pre-treatment and periods... Food insecurity as well as participation and food expenditure decisions begins after that,,! \Displaystyle s } RDD models exploit exogenous policy rules, yielding a comparison of outcomes, within! The team to complete each project phase programs and the SNAP turn, are informed by methods to Hiro lotushiro. Same in both differences-in-differences estimates of the counterfactual rather than the impact the... Recipienti is usually a dummy variable equal to one if the bank provided! To study employment effects of minimum wages.14 invalidate, researcher 's findings. of immigration on unemploymenta immigration unemploymenta.: in soccer/football, teams use approaches and Techniques Education ( Second Edition ),.... Waterfall is a good econometric methodology to estimate the effect of immigration on unemploymenta they are ordered events... Us citizens in the Economics of Finance, 2013 by methods effect on scores below a fixed point... ] in a particular way step programme and True Buddhism 's approach selection issues... And Mi common-trend assumption the evaluation of policies such as language you can talk write... Is that Waterfall is a good econometric methodology to estimate the True impact of the effect of Boatlift on!

Difference in differences (DiD) is a tool to estimate treatment effects comparing the pre- and post-treatment differences in the outcome of a treatment and a control group. Panel data applications still require the strong restrictions on the distribution of the individual transitory time-varying effects and must retain the common-trend assumption. In some cases, treatment is at the individual loan level, comparing the terms of credit on loans from TARP banks with those from non-TARP banks before and after the TARP treatment. In Buddhism as a theology, the focus is on the spiritual aspect, which could lead to a greater understanding of the teachings of the Buddha and the path to enlightenment.