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Full-Text Articles in International Economics

Summary: Designing Successful Carbon Markets, Arthur Van Benthem Sep 2019

Summary: Designing Successful Carbon Markets, Arthur Van Benthem

Wharton PPI B-School for Public Policy Seminar Summaries

There are a lot of developments happening right now in carbon markets in different parts of the world—from New Zealand to Canada and many points in between. As policymakers continue to explore cap-and-trade in the United States, there is much to learn about what does and doesn’t work from these carbon markets already in place.


Summary: Economic Return Of Nation Brands, David J. Reibstein Sep 2019

Summary: Economic Return Of Nation Brands, David J. Reibstein

Wharton PPI B-School for Public Policy Seminar Summaries

It is generally considered good business practice for a company to invest in its brand. A positive brand image typically results in a more loyal customer base and an overall increase in profit. Likewise, nations have brands, and the reputation of a country has an economic impact on its gross domestic product (GDP).


Summary: Effects Of The Us Worldwide Tax Regime On Domestic Investment, Jennifer L. Blouin Sep 2019

Summary: Effects Of The Us Worldwide Tax Regime On Domestic Investment, Jennifer L. Blouin

Wharton PPI B-School for Public Policy Seminar Summaries

There are two basic systems for international corporate taxation. The US operates under a worldwide taxation system, in which the US government asserts its right to tax the global income of US resident corporations, whether that income is earned within the US or outside it. The US is the only G7 nation that maintains such a tax system. The majority of other nations in the world use a territorial taxation regime. A territorial regime embodies a source-based system where countries only tax business activity that happens within their borders. This summary of Professor Jennifer Blouin's B-School Seminar, focuses on ...


Summary: Service Exports And The Us Trade Deficit, Joao F. Gomes Sep 2019

Summary: Service Exports And The Us Trade Deficit, Joao F. Gomes

Wharton PPI B-School for Public Policy Seminar Summaries

A trade deficit is defined by the amount by which a country’s imports exceeds the value of its exports. The US has consistently held a trade deficit since the 1970s; as of the end of 2016, the deficit had risen to $502 billion. This trade deficit has been a “political hot potato,” particularly with respect to China, on the assumption that a sustained deficit weakens the overall economy. But is that accurate? In this B-School for Public Policy Seminar Summary, Professor Gomes takes a closer look at the economics of boosting service exports as a means of rebalancing the ...


Efficacy Of Blended Finance In Climate Change Infrastructure Projects, Christian A. Butts Jan 2018

Efficacy Of Blended Finance In Climate Change Infrastructure Projects, Christian A. Butts

Wharton Research Scholars

As the conversations surrounding climate change prevention and Sustainable Development Goal (SDG) financing grow in importance in the 21st century, so too do the conversations around the intersections of solutions around the topics. Blended financing has been utilized in several different forms over the past decade or so to tackle the largest problems in the global economy set out by the United Nation’s SDGs. While the tool has been leveraged for several of these Sustainable Development Goals, it has been particularly useful in attracting private investment for environmental sustainability-focused projects via the programs in place at several of ...


21st Century Chinese Art Market Boom, Ayca Deniz Ergin Jan 2018

21st Century Chinese Art Market Boom, Ayca Deniz Ergin

Summer Program for Undergraduate Research (SPUR)

This research paper provides a detailed analysis of how China has become the fastest growing art market around the world. How did the economic development in China led the country to the top in recent years, in contrast to its Western competitors? What is China’s role in the global art market scene? What changes have been made, in a socialist system, to accommodate foreign investors and what future changes should be made to sustain its growth?

Through focusing on the correlation between economic growth and art market expansions, this research develops the relationship through referencing various quantitative and qualitative ...


The Impact Of Extended Reproductive Time Horizons: Evidence From Israel's Expansion Of Access To Ivf, Naomi Gershoni, Corinne Low Dec 2017

The Impact Of Extended Reproductive Time Horizons: Evidence From Israel's Expansion Of Access To Ivf, Naomi Gershoni, Corinne Low

Population Center Working Papers (PSC/PARC)

Women’s time-limited fertility window, compared to men’s longer period of fecundity, could be a key constraint shaping the gender gap in career choices and hence outcomes. Israel’s 1994 policy change to make in vitro fertilization free provides a natural experiment for how fertility time horizons impact women’s investment choices. We find that following the policy change women marry later, complete more college education, achieve more post-college education, and have better labor market outcomes. Additionally, we find the “penalty” in spousal quality for women who get married after thirty substantially dissipates. This suggests that persistent labor market ...


Questioning The Advances In Global Trade: An Assessment Of The Development Chapter In The Trans-Pacific Partnership, Alice Gerow Nov 2017

Questioning The Advances In Global Trade: An Assessment Of The Development Chapter In The Trans-Pacific Partnership, Alice Gerow

SPICE: Student Perspectives on Institutions, Choices and Ethics

The Trans-Pacific Partnership is on its way to becoming the largest trade deal ever made and proposes to write the rules for global trade. The TPP includes several novelties in trade negotiation such as a chapter specifically interested in issues surrounding development. This paper offers a content-based analysis of the TPP’s Development chapter to gauge the value of this symbolic addition. In order to make this assessment, the United Nations Conference for Trade and Development, the intergovernmental organization responsible for assisting developing nations in the negotiation of trade deals, serves as a reference point for the representation of developing ...


Power Transitions And International Institutions: China's Creation Of The Asian Infrastructure Investment Bank, Liam Gennari Apr 2017

Power Transitions And International Institutions: China's Creation Of The Asian Infrastructure Investment Bank, Liam Gennari

Honors Theses (PPE)

China’s rise has generated a sense of instability in the international system. Power Transition Theory warns that this period of change at the top of the international hierarchy will be a moment of great danger, as China will likely be dissatisfied with the world order that the United States has created. This view coincides with pessimistic realist projections. Neoliberal institutionalism is more optimistic about the prospects for a peaceful transition, believing that China will not necessarily be a dissatisfied power as the international system and its institutions encourage cooperation and a focus on absolute gains, mitigating the likelihood of ...


The German Current Account: A Comparison Of American And European Perspectives And Policies, Lauren N. Anders Jan 2017

The German Current Account: A Comparison Of American And European Perspectives And Policies, Lauren N. Anders

Social Impact Research Experience (SIRE)

This paper reviews the components of the current account balance, the historical trends of Germany’s current account, and compares Germany’s current account to others across the world. It then discusses factors contributing to the current account surplus, including savings and investment behaviors, interest rates and the euro, and the gap between exports and imports. After discussing the impact of the surplus on international political relations and the political environment within Germany, this paper then delves into American, European, and German perspectives of the surplus – if it is harmful to the Eurozone and the global economy, and if so ...


The Planner In Action: China’S Influence As A Developing And Non-Market Economy On The Wto, Lauren Shapiro Apr 2016

The Planner In Action: China’S Influence As A Developing And Non-Market Economy On The Wto, Lauren Shapiro

CUREJ - College Undergraduate Research Electronic Journal

Chinese accession to the World Trade Organization in 2001 forever altered the international economy as it marked the political-economic diversification of international trade negotiations and law. Before the implications of Chinese accession became apparent, scholars predicted that Chinese WTO membership would greatly affect the Organization. While this thesis agrees with this general sentiment, it insists that China’s effect on the WTO is not wholly negative or positive and requires a nuanced, sub-institutional assessment to understand. Qualifying and expanding upon scholars’ pre-2001 predictions, this thesis argues that for the most part, China did not proactively cause instances of institutional weakness ...


A Different Kind Of Restructuring: Forty Years Of Debate And The Prospect Of A Formal International Sovereign Debt Regime, Aidan W. Mcconnell Jan 2016

A Different Kind Of Restructuring: Forty Years Of Debate And The Prospect Of A Formal International Sovereign Debt Regime, Aidan W. Mcconnell

CUREJ - College Undergraduate Research Electronic Journal

This thesis will examine how the organization of creditors and debtors within an ad hoc sovereign debt framework affects the prospect of establishing a formal international mechanism for debt disputes. Since sovereign debtors are not bounded by the same constraints and guarantees as domestic actors, crisis-driven political battles and case-by-case compromises between creditor interests and indebted countries are the ideal building blocks for constructing a picture of the contemporary debt regime. A review of sovereign debt disputes between the 1970s and the present day – corresponding to the North-South Dialogue, the Latin American debt crisis of the 1980s, the International Monetary ...


Evaluating International Consumption Risk Sharing Gains: An Asset Return View,, Karen K. Lewis, Edith X Liu Apr 2015

Evaluating International Consumption Risk Sharing Gains: An Asset Return View,, Karen K. Lewis, Edith X Liu

Finance Papers

International consumption risk sharing studies often generate counterfactual implications for asset return behavior with potentially misleading results. We address this contradiction using data moments of consumption and asset returns to fit a canonical international consumption risk sharing framework. Introducing persistent consumption risk, we find that its correlation across countries is more important for risk sharing than that of transitory risk. To identify these risk components, we jointly exploit the comovement of equity returns and consumption. This identification implies high correlations in persistent consumption risk, suggesting a strong degree of existing risk sharing despite low consumption correlations in the data.


The Failure Of The Lisbon Treaty To Mitigate The Eurozone Economic Malaise, Matthew G. Frias Esq. May 2011

The Failure Of The Lisbon Treaty To Mitigate The Eurozone Economic Malaise, Matthew G. Frias Esq.

Honors Theses (PPE)

No abstract provided.


Essays In Macroeconomic Dynamics And The Financial Market, Wen Yao May 2011

Essays In Macroeconomic Dynamics And The Financial Market, Wen Yao

Publicly Accessible Penn Dissertations

This thesis explores the important link between macroeconomic dynamics and the financial sector. The first essay studies Epstein-Zin preferences, which are found to be able to account for both aggregate macroeconomic dynamics and asset prices. In the first essay, I compare different solution methods for computing dynamic stochastic general equilibrium (DSGE) models with Epstein-Zin preferences and stochastic volatility. I show that perturbation methods are an attractive approach for computing this class of problems. The second essay emphasizes the importance of frictions in the financial market on real economic activities. The model studies the international business cycle co-movements when financial frictions ...


Grameen Microfinance: An Evaluation Of The Successes And Limitations Of The Grameen Bank, Ana Maria Moreno Aug 2010

Grameen Microfinance: An Evaluation Of The Successes And Limitations Of The Grameen Bank, Ana Maria Moreno

Honors Theses (PPE)

The Grameen Bank has attracted worldwide attention by providing small loans to poor people across rural villages in Bangladesh. In 2006 the Nobel Committee awarded the Grameen Bank and its founder Professor Mohammad Yunus the Nobel Peace Prize for their, “efforts to create economic and social development from below.”[1] The Nobel committee asserted that microfinance is “an important liberating force and an ever more important instrument in the struggle against poverty.”[2] Since then, a global microfinance revolution has emerged and the Grameen Bank has been at the vanguard of this movement, showing the potential to alleviate poverty by ...


The Asian Currency Crisis: The Role Of Industrial Policy And Imbalanced Embedded Autonomy, Adrian J. Shin Apr 2010

The Asian Currency Crisis: The Role Of Industrial Policy And Imbalanced Embedded Autonomy, Adrian J. Shin

CUREJ - College Undergraduate Research Electronic Journal

Over the past few decades, East Asian countries achieved unprecedented rates of economic growth. Starting with Japan’s post-World War II economic miracle, followed by South Korea, Taiwan and Singapore, the region raised itself from an abyss of poverty to glorious economic prosperity. The grace of the East Asian model continued with great economic success, only to see its ultimate collapse in the Asian Financial Crisis in the late 1990s. This paper argues that certain sectoral dynamics combined with industrial policy had led to the imbalance of embedded autonomy. This imbalance is accountable for various policy consequences that generated perception ...


The Flat Tax: An Examination Of The Baltic States, Deena Greenberg Mar 2009

The Flat Tax: An Examination Of The Baltic States, Deena Greenberg

CUREJ - College Undergraduate Research Electronic Journal

The idea of a flat tax, a tax levied at a single rate, has become an increasingly discussed and implemented fiscal strategy across Europe and the rest of the world. Estonia, Latvia, and Lithuania adopted flat tax systems in 1994 and 1995, making them the first modern countries to adopt flat tax structures. They subsequently experienced unprecedented economic growth, shocking the world as they emerged as “Baltic Tigers” at the turn of the century. Russia adopted a flat tax regime in 2001, and more than a dozen countries currently maintain some sort of flat tax structure today. However, the actual ...


Legitimacy, Interest Group Pressures And Change In Emergent Institutions: The Case Of Foreign Investors And Host Country Governments, Witold J. Henisz, Bennet A. Zelner Apr 2005

Legitimacy, Interest Group Pressures And Change In Emergent Institutions: The Case Of Foreign Investors And Host Country Governments, Witold J. Henisz, Bennet A. Zelner

Management Papers

We offer a simple model of policy making, emphasizing socialization and limits on human cognition to explicate mechanisms of change in emergent (as opposed to established) institutions. Emergent institutions are more susceptible to change, and their opponents may use frames or existing reference points to illustrate inconsistency with prevailing notions of legitimacy. Broader institutional structures and specific organizational characteristics moderate pressure for change. This perspective has novel implications for strategy and policy design.


Does Regulation Drive Out Competition In Pharmaceutical Markets?*, Patricia. M. Danzon, Li-Wei Chao Oct 2000

Does Regulation Drive Out Competition In Pharmaceutical Markets?*, Patricia. M. Danzon, Li-Wei Chao

Health Care Management Papers

Most countries regulate pharmaceutical prices, either directly or indirectly, on the assumption that competition is at best weak in this industry. This paper tests the hypothesis that regulation of manufacturer prices and retail pharmacy margins undermines price competition. We use data from seven countries for 1992 to examine price competition between generic competitors (different manufacturers of the same compound) and therapeutic substitutes (similar compounds) under different regulatory regimes. We find that price competition between generic competitors is significant in unregulated or less regulated markets (United States, United Kingdom, Canada, and Germany) but that regulation undermines generic competition in strict regulatory ...