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Full-Text Articles in Macroeconomics

The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, Daniel Friedberg Apr 2019

The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, Daniel Friedberg

Student Scholar Showcase

The role of income inequality in relation to gross domestic product is of great importance in modern time. Income inequality is a pressing phenomenon in the fields of economics, politics, and sociology, while Gross Domestic Product is the benchmark statistic in measuring the health of any economy. But how well does income inequality serve as a predictor for the level of Purchasing Power Parity (PPP) GDP per capita within a nation? This cross-sectional study determines that the GINI Index has no significant statistical relationship with PPP GDP per capita level. While income inequality is a major economic variable that contributes ...


The Power Of The Visible Hand, Jacqueline S. Kotkiewicz Apr 2019

The Power Of The Visible Hand, Jacqueline S. Kotkiewicz

Student Publications

This paper is an analysis of state capitalism as a vehicle for change in the global economic system. Specifically, it looks at how state capitalism can be seen as an emerging threat to the Bretton Woods system, as well as how it is becoming an increasingly popular model of development. From national champions, to the Belt and Road initiative, to a rising presence in emerging market economies, the state capitalism model is increasing in influence. Due to this rise in power of countries that practice state capitalism, the global structure of power can potentially be challenged, thus also altering the ...


Celtic Tiger Ireland As A Case Study In The Practical Application Of Neoliberal Economic Policy, Natalie Sneed Mar 2019

Celtic Tiger Ireland As A Case Study In The Practical Application Of Neoliberal Economic Policy, Natalie Sneed

Honors Theses, University of Nebraska-Lincoln

The Celtic Tiger economic boom, which occurred in Ireland from approximately 1987 to 2009 has generally been considered one of the most remarkable economic turnarounds in any country in the modern era. My purpose in this project was to identify the primary causes and effects of such rapid and dramatic economic growth and development to determine whether it is sensible for other countries emerging from colonial rule to seek to emulate the Irish economic model. Through a review of the economic literature on the Irish economy in the last three decades, I identify Ireland’s implementation of a neoliberal economic ...


What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal Jan 2019

What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal

CMC Senior Theses

This paper examines the performance of Indian banks by studying the effects of recent reforms and macroeconomic events. Indian banks went through a period of reforms in the past twenty years. The impact of these reforms and major macroeconomic events has been examined using time-series analysis. Event studies offer additional perspective on the short-run effect of the events on different types of Indian banks. Although, the event dates are not all statistically significant in the time-series regressions, the demonetization of 2016 is significant in the event study analysis. Thus, while reforms and events have immediate impact on the performance of ...


Free Trade And Corporate Social Responsibility: Ethical Dilemmas In Global Economic Development, Sarah Papion Dec 2018

Free Trade And Corporate Social Responsibility: Ethical Dilemmas In Global Economic Development, Sarah Papion

Capstone Projects and Master's Theses

Through the lens of the free-trade-optimist, it is black and white: corporations bring jobs, and jobs equal a happy and healthy economy. A major oversight in this neoliberal Utopian ideology is that corporations are not in the business of building communities, nor do they have an interest in keeping their operations stationary enough to allow economic growth to occur over a span of years. Corporations abandon communities as quickly as they arrive to find their next cheap labor hub. Quite contradictory to the original purpose of free trade, economic growth in Free Trade Zones is not long term or secure ...


Efficiency With Endogenous Population And Fixed Resources, Juan Carlos Cordoba, Xiying Liu Nov 2018

Efficiency With Endogenous Population And Fixed Resources, Juan Carlos Cordoba, Xiying Liu

Economics Working Papers

This article studies socially optimal allocations, in the first-best sense, in environments characterized by fixed resources and endogenous fertility. Individuals in our environment are fully rational and altruistic toward their descendants, the social planner is benevolent, and there is full information. Our model allows for rich heterogeneity of abilities, preferences for children, and costs of raising children. We find that efficient allocations in the endogenous fertility case differ significantly from its exogenous fertility counterpart. In particular, optimal steady-state population is proportional to the amount of fixed resources and to the level of technology while steady state individual consumption is independent ...


Essays In New Keynesian Monetary Policy, Tzu-Hao Huang Sep 2018

Essays In New Keynesian Monetary Policy, Tzu-Hao Huang

All Dissertations, Theses, and Capstone Projects

The dissertation consists of three Chapters. I consider New Keynesian models which involve tradeoffs between output gap and inflation variances. Such policy strategy is often referred to as flexible inflation targeting rules (e.g., Lars Svensson 2011, pp.1238-95). Taylor rules, in general, have the symbolic expression 𝑖t=𝜑x𝑥t+𝜑𝜋𝜋t+𝜑g𝑔t, where 𝑖t is the nominal interest rate at period t, 𝑥t is the target variable output gap at period t, 𝜋t is the target variable inflation rate at period t, 𝑔t is realized shock to ...


An Economics Primer For Cyber Security Analysts, John T. Harvey Jun 2018

An Economics Primer For Cyber Security Analysts, John T. Harvey

Military Cyber Affairs

One of the ingredients necessary to an understanding of the impact of cyber attacks is a reliable model of the economy. We face great challenges in trying to protect an already potentially unstable system from cyber aggression and operating with a flawed understanding of the determinants of output, employment, asset prices, et cetera, surely condemns us to failure. This is so not only because we need to know where points of leverage might exist for bad actors to disrupt and disable our system, but because policy recommendations may face significant push back from both selected scholars and powerful vested interests ...


The Economic Impacts Of A U.S. Withdrawal From Nafta: A Cge Analysis, Jonathan Liu May 2018

The Economic Impacts Of A U.S. Withdrawal From Nafta: A Cge Analysis, Jonathan Liu

Undergraduate Economic Review

The aim of this study is to examine the economic impacts of a U.S. withdrawal from the North American Free Trade Agreement (NAFTA) on Canada, Mexico and the United States. The shocks simulate scenarios in which the U.S instates penalizing tariff rates on NAFTA countries, a trade war between NAFTA members and a tariff reset to the WTO MFN rates. The effects of these tariff structures are analyzed under the framework of a computable general equilibrium (CGE) model with a focus on macroeconomic variables and welfare. The findings show that, in all iterations, Mexico’s economy takes a ...


Does Debt Matter?, Luhan Li May 2018

Does Debt Matter?, Luhan Li

Applied Economics Theses

National debt is a popular topic, since people have a lot of different views on national debt. For example, many people think that there is a positive relationship between national debt and GDP per capita. In other words, the national debt has also increased with the growth of GDP per capita. However, some people feel that there is an inverse relationship between them, so much so that the topic has been discussed. Based on my interest in this topic, I decided to discuss this question. This paper will discuss their influence and importance by analyzing national debt, GDP per capita ...


Public Principles And Economic Legacy, Stanley Schwartz Apr 2018

Public Principles And Economic Legacy, Stanley Schwartz

Channels: Where Disciplines Meet

2018 will mark the 60th anniversary of the publication of Public Principles of Public Debt. The Nobel-prize winning economist’s first book conflicted with the Keynesian orthodoxy of the day, and added fresh ideas to an ongoing debate over the fundamentals of public debt theory. This paper seeks to outline the dialogue among leading economists surrounding public debt since the publication of Public Principles of Public Debt, examining the major schools of thought and their development. The ideas of John Maynard Keynes, James Buchanan, and Richard Barro will receive attention, without neglecting other significant contributions. The paper will conclude ...


Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth Apr 2018

Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth

Theses

The European Union has been one of the greatest accomplishments of modern history. Through economic and political integration has ended centuries of warfare on the continent while producing the worlds largest trading bloc. Despite the initial success of the monetary union and its single currency, the Union has been bogged down economic troubles in the form of a debt crisis among several of the member states. The recovery period of the crisis has produced growth that is slow and uneven. Countries such as Germany has assumed the role of the economic powerhouse of Europe and therefore a political leader in ...


Monetary Policy At The Zero Lower Bound: Implications Of High Costs Of Credit During A Recession, Louisa Kammerer Apr 2018

Monetary Policy At The Zero Lower Bound: Implications Of High Costs Of Credit During A Recession, Louisa Kammerer

Senior Theses and Projects

This paper examines the challenges policymaker (and firms) encounter when confronted by a recession at the zero lower bound, when traditional monetary policy is ineffective in the face of deteriorated balance sheets and high costs of credit. Within the larger body of literature, this paper focuses on the cost of credit during a recession, which constrains smaller firms from borrowing and investing, thus magnifying the contraction. Extending and revising a model originally developed by Walker (2010) and estimated by Pandey and Ramirez (2012), this study uses a Vector Error Correction Model to analyze the effects of relevant economic and financial ...


Nebraska Business And Consumer Confidence Indexes: March 9, 2018, Eric Thompson Mar 2018

Nebraska Business And Consumer Confidence Indexes: March 9, 2018, Eric Thompson

Leading Economic Indicator Reports

Nebraska consumer and business confidence fell during February 2018, dropping from the near-peak levels seen in January. The Consumer Confidence Index – Nebraska (CCI-N) fell to 101.6 in February from a value of 115.2 in January. The February value remains above the neutral level of 100.0. The Business Confidence Index – Nebraska (BCI-N) fell to 107.4 In February from 112.2 in January. Both monthly readings were well above the neutral value of 100.0 suggesting that business confidence remains strong. When asked about the most important issue facing their business, customer demand was mentioned by 38 percent ...


Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir Feb 2018

Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir

Undergraduate Economic Review

Economists have strongly supported the idea that unemployment causes many undesirable health outcomes. However, how does belonging to a different sector of employment tied closely to changes in minimum wage and inflation relate to overall health? To properly understand the numerical significance of health disparities in the uncovered sector of employment, this research is targeted at quantifying the relationship between the insured and non-insured within the uncovered sector. By substantiating the existence of severe health disparities as a function of the labor force dynamic, this research subsequently estimates the amount of inefficiency and negative health outcomes in the US economy ...


Nebraska Business And Consumer Confidence Indexes: February 2, 2018, Eric Thompson Feb 2018

Nebraska Business And Consumer Confidence Indexes: February 2, 2018, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence rebounded in Nebraska during January 2018. The Consumer Confidence Index – Nebraska (CCI-N) rose to 115.2, well above the neutral level of 100.0 and a value of 93.3 in December 2017. This is the highest level recorded for the CCI-N since it was first released in February of 2016. The Business Confidence Index – Nebraska (BCI-N) rose to 112.2 in January from 107.5 in December. Both monthly readings were well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 40 ...


Industrial Output Fluctuations In Developing Countries: General Equilibrium Consequences Of Agricultural Productivity Shocks, Iona Hyojung Lee Feb 2018

Industrial Output Fluctuations In Developing Countries: General Equilibrium Consequences Of Agricultural Productivity Shocks, Iona Hyojung Lee

Research Collection School Of Economics

This paper shows that a negative shock to agricultural productivity may increase food prices, and labor and capital can move away from manufacturing into agriculture to meet the subsistence requirement for food. This effect depends on income levels and openness to trade. Using annual manufacturing data and rainfall shocks as the instrument for crop yields (proxy for agricultural productivity), I find that an exogenous decline in yield decreases manufacturing output as well as employment and capital investment in manufacturing. Overall, crop yield variation can explain up to 44% of industrial output fluctuations in developing countries (rainfall shocks cause 31% of ...


Nebraska Business And Consumer Confidence Indexes: January 5, 2018, Eric Thompson Jan 2018

Nebraska Business And Consumer Confidence Indexes: January 5, 2018, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence declined in Nebraska during December 2017. The Consumer Confidence Index – Nebraska (CCI-N) fell to 93.3 in December, well below the neutral level of 100.0. The index had reached a record level of 106.2 in November, but that high level of confidence was not sustained. The Business Confidence Index – Nebraska (BCI-N) fell from 114.1 in November to 107.5 in December. While lower, the December reading remains well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 38 percent of ...


International Reserves And Rollover Risk, Javier Bianchi, Juan Carlos Hatchondo, Leonardo Martinez Jan 2018

International Reserves And Rollover Risk, Javier Bianchi, Juan Carlos Hatchondo, Leonardo Martinez

Leonardo Martinez

No abstract provided.


The Specter Of Caste, Kabir Raj Khanna Jan 2018

The Specter Of Caste, Kabir Raj Khanna

Senior Projects Spring 2018

Senior Project submitted to The Division of Social Studies of Bard College.


The Arts In The United States: Can The Arts Become A Public Good?, Alexander Van Der Veen Jan 2018

The Arts In The United States: Can The Arts Become A Public Good?, Alexander Van Der Veen

Senior Projects Fall 2018

Senior Project submitted to The Division of Social Studies of Bard College.


The Zambian Consensus, Stefan Jan Briggs Jan 2018

The Zambian Consensus, Stefan Jan Briggs

Senior Projects Spring 2018

Senior Project submitted to The Division of Social Studies of Bard College.


2008 Financial Crisis And The Deviation From The Taylor Rule, Uzoma H. Okoye Jan 2018

2008 Financial Crisis And The Deviation From The Taylor Rule, Uzoma H. Okoye

University Honors Program Theses

In this paper, we derive possible causes of the 2008 financial crisis, as well as provide evidence of a possible deviation from the Taylor rule by the Federal Reserve. This research draws up mostly primary sources such as published books and speeches by John B. Taylor himself, as well as articles from academic journals related to the topic. Other prior research tends to take a side on the argument as to whether the Federal Reserve deviated or not. This paper serves as a descriptive analysis of different sides of the argument to come up with suggestions regarding the Fed’s ...


The Road Ahead For Chinese Soes, Jingyu Mao Jan 2018

The Road Ahead For Chinese Soes, Jingyu Mao

Senior Projects Spring 2018

Many Chinese State Owned Enterprises are facing problems of over-capacity and inefficient productivity. These problems have contributed to the slowdown of Chinese economic growth. Some people believe that this is the time for SOEs to improve their productivity and financial system in order to be more efficient to support future Chinese economic growth. However, the central government has decided to not reform the current SOE system and continue funding SOEs in order to let them play an important role in the "Belt and Road Initiative." Many people think that this is a way to vindicate SOEs, or to excuse the ...


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 ...


Nebraska Business And Consumer Confidence Index: December 1, 2017, Eric Thompson Dec 2017

Nebraska Business And Consumer Confidence Index: December 1, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer and business confidence surged in Nebraska during November. The Consumer Confidence Index – Nebraska (CCI-N) rose to 106.2 in November from 95.1 in October. The November value is well above the neutral level of 100.0. Likewise, the Business Confidence Index – Nebraska (BCI-N) rose from 102.7 in October to 114.1 in November, which is also well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 32 percent of respondents. Nearly as many businesses mentioned workforce issues. In particular, the availability and quality of ...


Nebraska Monthly Economic Indicators: November 22, 2017, Eric Thompson Nov 2017

Nebraska Monthly Economic Indicators: November 22, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.24% during October of 2017. The decrease in the LEI-N, which is designed to predict economic activity six months into the future, suggests that economic growth will slow in Nebraska during the second quarter of 2018. The fall in the indicator was due to an decline in building permits for single-family homes and manufacturing hours-worked. There also was an increase in the value of the U.S. dollar in October. The increase in the value of the dollar is challenging for Nebraska exporters. In terms of positive components, there was ...


Nebraska Business And Consumer Confidence Indexes: November 3, 2017, Eric Thompson Nov 2017

Nebraska Business And Consumer Confidence Indexes: November 3, 2017, Eric Thompson

Leading Economic Indicator Reports

Nebraska’s consumer confidence remained weak during October while business confidence remained strong. The Consumer Confidence Index – Nebraska (CCI-N) stood at 95.1 in October, below the neutral value of 100.0. By contrast, the Nebraska business confidence remained strong. The Business Confidence Index – Nebraska (BCI-N) stood at 102.7 in October, below the September level of 105.2 but above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 31 percent of business respondents. Businesses also faced growing competition in both the labor and product markets. The ...


Nebraska Monthly Economic Indicators: October 25, 2017, Eric Thompson Oct 2017

Nebraska Monthly Economic Indicators: October 25, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 rose by 1.86% during September of 2017. The increase in the LEI-N, which is designed to predict economic activity six months into the future, suggests solid economic growth in Nebraska during the first quarter of 2018. The rise in the indicator was due to an increase in building permits for single-family homes and growth in manufacturing hours-worked. There also was a decline in the value of the dollar in September, which is positive for Nebraska exporters. Finally, there were positive business expectations. Businesses responding to the September Survey of Nebraska Business reported ...


Nebraska Business And Consumer Confidence Indexes: October 6, 2017, Eric Thompson Oct 2017

Nebraska Business And Consumer Confidence Indexes: October 6, 2017, Eric Thompson

Leading Economic Indicator Reports

Nebraska’s consumer confidence tumbled during September while business confidence held steady. The Consumer Confidence Index – Nebraska (CCI-N) fell to 93.5 in September, well below the reading of 100.9 in August and the neutral value of 100.0. Consumer confidence is now weak in Nebraska. By contrast, the Nebraska business confidence remained strong. The Business Confidence Index – Nebraska (BCI-N) stood at 105.2 in September, slightly above the August value of 104.2, and well above the neutral value of 100.0. When asked about the most important issue facing their business, customer demand was mentioned by 37 ...