Open Access. Powered by Scholars. Published by Universities.®

Macroeconomics Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 6 of 6

Full-Text Articles in Macroeconomics

Monetary And Fiscal Policies: Ordinary Recessions And Financial Crises, Svetoslav I. Semov Jan 2011

Monetary And Fiscal Policies: Ordinary Recessions And Financial Crises, Svetoslav I. Semov

Gettysburg Economic Review

This paper uses two different samples to study the effects of monetary and fiscal policies on the profiles of recessions and recoveries. Several results emerge from the econometric analysis presented. First, monetary policy during ordinary recessions and banking crises is a powerful tool with lasting effects that extend to recovery growth rates. However, the effect of monetary policy during financial crises is strongly diminished in the case of forbearance – banks left to function despite being technically insolvent. Second, the effectiveness of fiscal policy is reversed – it is a powerful tool during banking crises, but it does not seem to significantly ...


Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott Jan 2011

Friedrich Von Hayek: The Socialist-Calculation Debate, Knowledge Arguments, And Modern Economic Development, Cara A. Elliott

Gettysburg Economic Review

At the close of the nineteenth and the commencement of the twentieth century, socialism began to gain momentum as a large-scale movement in Europe and the United States. This popularity was supported by an increased influence of the working class in society, which put pressure for representation upon European parliaments and began to secure concrete improvements in labor protection laws. Moreover, socialist proponents looked hopefully towards the living example of the Soviet Union, which began its socialist experiment in 1917 following the success of the Bolshevik Revolution. Socialism, which found its economic grounding in the legacies of such men as ...


A Current Microeconometric Assessment Of The Racial Wage Gap In The United States, David H. Krisch Jan 2008

A Current Microeconometric Assessment Of The Racial Wage Gap In The United States, David H. Krisch

Gettysburg Economic Review

Minority groups in the United States promoted affirmative action legislation in the 1960s during the civil rights movement to help ease the inequalities suffered in their economic history. Many labor economists have sought since this time to study the effects of race, gender, and the effect of income – how it has changed and if the gap has closed. Existing literature uses many different econometric models to show how the effects of race, gender, age, occupation, educational attainment, and geographic location on an individual comparative basis. This paper will examine the effects of all of these variables jointly using an ordinary ...


The Gettysburg Economic Review, Volume 2, Spring 2008 Jan 2008

The Gettysburg Economic Review, Volume 2, Spring 2008

Gettysburg Economic Review

No abstract provided.


The Macroeconomy And Long-Term Interest Rates: An Examination Of Recent Treasury Yields, Hans W. Hardisty Jan 2006

The Macroeconomy And Long-Term Interest Rates: An Examination Of Recent Treasury Yields, Hans W. Hardisty

Gettysburg Economic Review

From 2001 to 2006, U.S. long-term interest rates have remained steady while the federal funds rate has both declined and increased, as Figure 1 shows. Historically, long term interest rates tend to respond to changes in short term rates, but recently this does not appear to be the case. Former chairman of the Federal Reserve, Alan Greenspan, recently dubbed this occurrence a “conundrum,” because no one can provide a distinct explanation concerning this phenomenon. There are several noteworthy incentives for why long-term yields should have increased from 2004 to 2006, but they have remained constant during this time period ...


The Gettysburg Economic Review, Volume 1, Spring 2006 Jan 2006

The Gettysburg Economic Review, Volume 1, Spring 2006

Gettysburg Economic Review

No abstract provided.