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Full-Text Articles in Macroeconomics

Nebraska Business And Consumer Confidence Indexes: June 2, 2017, Eric Thompson Jun 2017

Nebraska Business And Consumer Confidence Indexes: June 2, 2017, Eric Thompson

Leading Economic Indicator Reports

Consumer confidence fell in Nebraska during May 2017 while business confidence remained very strong. The Consumer Confidence Index – Nebraska (CCI-N) fell to roughly neutral during May. The CCI-N stood at 102.5 in April but fell to 100.4 during May, which is only slightly above the neutral value of 100.0. The outlook of Nebraska businesses remained very strong. The Business Confidence Index – Nebraska (BCI-N) rose to 110.2 in May, above its April value of 109.1 and well above the neutral value. Business confidence has been very strong in Nebraska during the first five months of 2017 ...


Nebraska Monthly Economic Indicators: May 24, 2017, Eric Thompson May 2017

Nebraska Monthly Economic Indicators: May 24, 2017, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator – Nebraska (LEI-N) 1 fell by 0.88% during April of 2017. The decline followed three months of rapid increase in January through March, implying a moderation in the outlook for the Nebraska economy in late 2017. Among the components of the indicator, business expectations were strong during April while the value of the U.S. dollar fell, which is a positive sign for Nebraska’s export-oriented businesses. However, manufacturing hours, building permits and airline passenger counts all declined during April, while initial claims for unemployment insurance rose.


Why Mandate Young Borrowers To Contribute To Their Retirement Accounts?, Torben M. Andersen, Joydeep Bhattacharya Sep 2016

Why Mandate Young Borrowers To Contribute To Their Retirement Accounts?, Torben M. Andersen, Joydeep Bhattacharya

Economics Working Papers

Many countries, in an effort to address the problem that too many retirees have too little saved up, impose mandatory contributions into retirement accounts, that too, in an age-independent manner. This is puzzling because such funded pension schemes effectively mandate the young, who wish to borrow, to save for retirement. Further, if agents are present-biased, they disagree with the intent of such schemes and attempt to undo them by reducing their own saving or even borrowing against retirement wealth. We establish a welfare case for mandating the middle-aged and the young to contribute to their retirement accounts, even with age-independent ...


Essays On Environmental Policy Instruments, Emissions Leakage And Public Policy, Shreekar Pradhan Aug 2016

Essays On Environmental Policy Instruments, Emissions Leakage And Public Policy, Shreekar Pradhan

Doctoral Dissertations

This dissertation consists of three essays related to my research on environmental policy, emissions leakage, and public policy. In the first essay, I address how open economies respond to environmental policy instruments under uncertainty. I develop a dynamic stochastic general equilibrium model for a small open economy (SOE) and evaluate the macroeconomic fluctuations in response to cap-and-trade, pollution tax, and emissions intensity standard under two shocks: productivity and terms of trade. My findings suggest that cap-and-trade policies are most effective in dampening the macroeconomic volatility from productivity shock. However, under the terms-of-trade shock, pollution tax, and intensity target policies are ...


Debt Dilution And Sovereign Default Risk, Juan Carlos Hatchondo, Leonardo Martinez, Cesar Sosa Padilla Jan 2016

Debt Dilution And Sovereign Default Risk, Juan Carlos Hatchondo, Leonardo Martinez, Cesar Sosa Padilla

Leonardo Martinez

No abstract provided.


Fiscal Rules And The Sovereign Default Premium, Juan Carlos Hatchondo, Leonardo Martinez, Francisco Roch Jan 2016

Fiscal Rules And The Sovereign Default Premium, Juan Carlos Hatchondo, Leonardo Martinez, Francisco Roch

Leonardo Martinez

No abstract provided.


Establishing Public Banks To Address State And Local Government Fiscal Problems, Erind Disha Jan 2016

Establishing Public Banks To Address State And Local Government Fiscal Problems, Erind Disha

Senior Projects Fall 2016

Unlike the Federal Government, which has the unique legal power to issue a national currency, state and local governments (SLGs) depend on their revenue capacity for spending. Thus, the quality of public services provided by SLGs depends on adequate, stable funding and long-term commitments. This paper begins with an evaluation of the general fiscal condition of SLGs, meanwhile discerning specific budget areas that have become particularly distressed, such as education, healthcare, and infrastructure. Chapter 3 deals with how SLGs engage in municipal finance with private financial institutions. Finally, the fourth chapter presents how arranging a system of public banks across ...


Working Capital Requirement And The Unemployment Volatility Puzzle, Tsu-Ting Tim Lin Dec 2015

Working Capital Requirement And The Unemployment Volatility Puzzle, Tsu-Ting Tim Lin

Economics Faculty Publications

Shimer (2005) argues that a search and matching model of the labor market in which wage is determined by Nash bargaining cannot generate the observed volatility in unemployment and vacancy in response to reasonable labor productivity shocks. This paper examines how incorporating monopolistically competitive firms with a working capital requirement (in which firms borrow funds to pay their wage bills) improves the ability of the search models to match the empirical fluctuations in unemployment and vacancy without resorting to an alternative wage setting mechanism. The monetary authority follows an interest rate rule in the model. A positive labor productivity shock ...


Economic Wealth And Social Welfare: A Longitudinal Analysis Of Transnational Well-Being, Kelly Brooke Martin Oct 2015

Economic Wealth And Social Welfare: A Longitudinal Analysis Of Transnational Well-Being, Kelly Brooke Martin

KELLY B MARTIN

Macro changes in the financial arena have prompted ongoing research focused on global economic trends. As America emerges from an era of stagnant wages, rising unemployment, and growing class stratification it is necessary to explore differences in cross-national socioeconomic behavior to address the changing needs of our country. Many studies attempt to describe statistical correlations between economic wealth and social well-being domestically and abroad by utilizing methodological perspectives that do not account for longitudinal change. To address the gap in existing research, this study seeks to measure variations in econometric indicators between the U.S. and Nordic countries to further ...


Economic Wealth And Social Welfare: A Longitudinal Analysis Of Transnational Well-Being, Kelly Brooke Martin Aug 2015

Economic Wealth And Social Welfare: A Longitudinal Analysis Of Transnational Well-Being, Kelly Brooke Martin

Doctoral Dissertations

Macro changes in the financial arena have prompted ongoing research focused on global economic trends. As America emerges from an era of stagnant wages, rising unemployment, and growing class stratification it is necessary to explore differences in cross-national socioeconomic behavior to address the changing needs of our country. Many studies attempt to describe statistical correlations between economic wealth and social well-being domestically and abroad by utilizing methodological perspectives that do not account for longitudinal change. To address the gap in existing research, this study seeks to measure variations in econometric indicators between the U.S. and Nordic countries to further ...


Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova Jun 2015

Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova

Saule T. Omarova

The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of fueling continuous ...


The Curious Case Of Greece: The Impact Of Fiscal Policy Shocks On Key Macroeconomic Variables. A Var Based Approach., Manny Kaliontzakis May 2015

The Curious Case Of Greece: The Impact Of Fiscal Policy Shocks On Key Macroeconomic Variables. A Var Based Approach., Manny Kaliontzakis

Master's Theses

For years, the Vector Autoregressive approach has been the main tool for monetary economics and macroeconomic researchers around the world. Leading central banking figures, academics, and modern economic think tanks have used the approach to determine the effects of interest rate shocks on basic macroeconomic variables such as GDP, industrial production and unemployment rate. Shocking policy variables, such as interest rates or long term bond rates have given economists the ability to run reliable forecasts. The last 20 years have seen a turn in the use of the VAR approach on fiscal policy as well. Even though, in general, previous ...


The Macroeconomic Effects Of Tax News, Sandeep Kumar Rangaraju Jan 2015

The Macroeconomic Effects Of Tax News, Sandeep Kumar Rangaraju

Theses and Dissertations--Economics

This dissertation explores the effect of tax news on national and state-level economic activity.

In the first chapter, I explore the effect of tax news on state economic activity. I estimate a factor-augmented vector autoregression (FAVAR) model, which allows us to consider the possibility that unobserved regional factors --such as credit and fiscal conditions-- might be relevant for modelling the dynamic response of aggregate and state-level economic activity. Tax news is identified as a shock to the implicit tax rate, measured by the yield spread between the one year tax-exempt municipal bond and the one-year taxable Treasury bond. My results ...


Why Do Countries Adopt Fiscal Rules?, John Thornton, Yener Altunbas Dec 2014

Why Do Countries Adopt Fiscal Rules?, John Thornton, Yener Altunbas

John Thornton

This paper examines which economic, institutional and political charac- teristics of countries affect the likelihood that a numeral rule will be adopted as part of a fiscal strategy to limit the level of public debt. We estimate a panel binary response model over the period 1970–2012 for 110 countries, of which 58 opted to adopt such a rule. Our results suggest that the probability such a rule will be adopted is greater if a country has a high level of public debt, a relatively inflexible exchange rate regime, has already adopted inflation targeting, has deep credit markets and if ...


External Diseconomies In Competitive Supply: Comment, George A. Hay, John J. Mcgowan Dec 2014

External Diseconomies In Competitive Supply: Comment, George A. Hay, John J. Mcgowan

George A. Hay

In a recent article in this Review, Charles Goetz and James Buchanan (G-B) assert that " . . . the standard description of misallocation in the presence of external production diseconomies is misleading . . . " because these externalities produce a ". . . combination of exchange-inefficiency with production-inefficiency [which ] renders the construction of correction devices much more difficult" (p. 889). Stated otherwise their contention is that with external diseconomies that are internal to an industry, i.e., those that each firm in an industry inflicts on other firms in the same industry, a competitive regime in the presence of a per unit tax on output designed to eliminate the ...


On Testing For Sphericity With Non-Normality In A Fixed Effects Panel Data Model, Badi H. Baltagi, Chihwa Kao, Bin Peng Dec 2014

On Testing For Sphericity With Non-Normality In A Fixed Effects Panel Data Model, Badi H. Baltagi, Chihwa Kao, Bin Peng

Center for Policy Research

Building upon the work of Chen et al. (2010), this paper proposes a test for sphericity of the variance-covariance matrix in a fixed effects panel data regression model without the normality assumption on the disturbances.


Three Essays On The Economics Of Defense Contracting, Output And Income Inequality, Edward M. Decambra Oct 2014

Three Essays On The Economics Of Defense Contracting, Output And Income Inequality, Edward M. Decambra

FIU Electronic Theses and Dissertations

This dissertation analyzes both the economics of the defense contracting process and the impact of total dollar obligations on the economies of U.S. states. Using various econometric techniques, I will estimate relationships across individual contracts, state level output, and income inequality. I will achieve this primarily through the use of a dataset on individual contract obligations.

The first essay will catalog the distribution of contracts and isolate aspects of the process that contribute to contract dollar obligations. Accordingly, this study describes several characteristics about individual defense contracts, from 1966-2006: (i) the distribution of contract dollar obligations is extremely rightward ...


Essays On Fiscal Policies In Open Economies, Ahiteme Nicodeme Houndonougbo Aug 2014

Essays On Fiscal Policies In Open Economies, Ahiteme Nicodeme Houndonougbo

Doctoral Dissertations

Investigating various fiscal policy issues in the context of an open economy, this dissertation consists of three essays.

The first essay addresses the question of the volatility of foreign aid and its impact on resource-constrained developing economies. A small open-economy business cycle model is developed that accounts for the effect of external shocks specific to developing economies. The model produces business cycle patterns consistent with the data and key stylized facts. The model is calibrated to reflect the structural empirical regularities of an aid-dependent developing country. The parameters of the exogenous stochastic shocks are estimated using Bayesian methods and 50 ...


Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main May 2014

Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main

Robert S. Main

Pigovian taxes on polluters are politically unpopular, but subsidies for non-polluting sources are politically attractive. This paper presents a linear demand and supply model and numerical example to explore the trade-offs between taxing polluting sources of a good versus subsidizing non-polluting sources of the same good. While the model (along with the associated numerical example) shows the optimality of Pigovian taxes, it also shows how much welfare is reduced if subsidies for nonpolluters are employed instead. Further, it shows the optimal tax, given any level of subsidy and the optimal subsidy, given any level of tax.


Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main Dec 2013

Subsidizing Non-Polluting Goods Vs. Taxing Polluting Goods For Pollution Reduction, Robert S. Main

Scholarship and Professional Work - Business

Pigovian taxes on polluters are politically unpopular, but subsidies for non-polluting sources are politically attractive. This paper presents a linear demand and supply model and numerical example to explore the trade-offs between taxing polluting sources of a good versus subsidizing non-polluting sources of the same good. While the model (along with the associated numerical example) shows the optimality of Pigovian taxes, it also shows how much welfare is reduced if subsidies for nonpolluters are employed instead. Further, it shows the optimal tax, given any level of subsidy and the optimal subsidy, given any level of tax.


Policy Responses In An Unstable Globalized Economy: Multi-Stressed Low-Earning Families In Singapore, Irene Y. H. Ng, Kong Weng Ho Jul 2013

Policy Responses In An Unstable Globalized Economy: Multi-Stressed Low-Earning Families In Singapore, Irene Y. H. Ng, Kong Weng Ho

Research Collection School Of Economics

The Singapore government responded swiftly to the 2008 global recession, doling out a range of policies in aid of all levels of wage earners. This paper explores the impacts of economic trends and government policies on low-wage earners. Using a theoretical model and empirical data from a pilot study of recipients of a government Work Support Program, it demonstrates the effects of socioeconomic factors on multi-stressed low-earning families. It discusses the adequacy of current policies in addressing the multiple stressors experienced by low-wage earners.


[Sabbatical Report], Claudia Strow Apr 2013

[Sabbatical Report], Claudia Strow

Sabbatical Reports

This document summarizes my sabbatical leave activities for spring semester, 2014. Below my accomplishments are discussed, and the value of the sabbatical leave to my teaching and research is assessed. The main activities I conducted during my sabbatical leave period included work on a new research project examining FMLA's impact on breastfeeding, the writing of a second edition of a textbook, substantial revisions for an accepted publication for the Journal of 'Markets and Morality, a revise and resubmit of a manuscript for the Journal of Applied Economics and Public Policy, an interview for Voice of America, the presentation of ...


Inflation And Unemployment: Is The Trade-Off Dead Or Alive In Pakistan?, Najid Ahmad, Kausar Yasmeen, Arsalan Ahmad Jan 2013

Inflation And Unemployment: Is The Trade-Off Dead Or Alive In Pakistan?, Najid Ahmad, Kausar Yasmeen, Arsalan Ahmad

Najid Ahmad

The aim of this paper is to identify the relationship betweeninflation and unemployment in Pakistan perspective of Phillips curve. A time series data is used for the period of 1984- 2012. Inflation rate is taken as dependent variable while unemployment rate, exchange rate, trade (percentage of GDP) is taken as independent variables. Ordinary Least Squares (OLS) is used after assuring the stationary of the variables with the help of Augmented Dickey Fuller (ADF) test. The paper has found significant results: there is an inverse relationship between inflation and unemployment rate in Pakistan. Concept of Phillips curve holdtrue in case of ...


How Many Barack Obamas Does It Take: An Analysis Of The Effect Of Charter Schools On Real Estate And Crime, Aananditaa Kakkar Jan 2013

How Many Barack Obamas Does It Take: An Analysis Of The Effect Of Charter Schools On Real Estate And Crime, Aananditaa Kakkar

CMC Senior Theses

This study looks at the relationship between charter school presence and neighborhood quality in Los Angeles. Using data from the Los Angeles Department of Education, Zillow Real Estate, and the Los Angeles Sheriff, this paper attempts to find whether changes in charter presence influence the price of surrounding real estate or the occurrence of serious and petty crimes. The results find that charter schools tend to be associated with a decrease in home sale prices. The results on crime imply that crime increases upon the opening of charter schools, however they are statistically insignificant.


Does Small And Medium Enterprises’ (Smes) Understand The Concept Of Intellectual Property Rights (Ip) On Their Business?:, Johansein L. Rutaihwa Mr. Aug 2012

Does Small And Medium Enterprises’ (Smes) Understand The Concept Of Intellectual Property Rights (Ip) On Their Business?:, Johansein L. Rutaihwa Mr.

Johansein Rutaihwa

No abstract provided.


Income Inequality And Economic Incentives: Is There An Equity-Efficiency Tradeoff?, Lonnie K. Stevans Jun 2012

Income Inequality And Economic Incentives: Is There An Equity-Efficiency Tradeoff?, Lonnie K. Stevans

Lonnie K. Stevans

What is the basis and direction of relationship between income inequality and economic growth? The equity versus efficiency dictum which predicts a positive relationship between inequality, capital formation, and real GDP growth—emphasizes the importance of economic incentives. Subsequently, this was challenged by the incomplete markets and political outcomes theories, because of increasing empirical evidence of an inverse relationship between income inequality and economic growth. In this paper, a further explanation of the basis and nature of the inequality–capital–growth relationship is presented, which emphasizes the divergence between savings and investment. For the United States, over the period 1970 ...


Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid May 2012

Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid

Muhammad Irfan Chani

This study investigates the casual relationship between economic development and formation of human capital in Pakistan. Based on endogenous growth theory, this study empirically tests the standard growth model consisting of gross domestic product (GDP) per capita as a dependent variable and human capital formation, investment in physical capital and labor force as independent variables. Autoregressive distributive lag (ARDL) bound testing approach to cointegration is used to check the long-run equilibrium relationship between the variables included in the model. For checking the causal relationship between economic development and human capital formation, pair-wise Granger causality test is used for time series ...


Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan Apr 2012

Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan

Muhammad Irfan Chani

This study aims to investigate the role that various socioeconomic factors like female education, urbanization and female labour force participation play in determining fertility of women in Pakistan. ARDL bound test approach to cointegration is used to analyze the long-run relationship of the variables by using the data for the period from 1980 to 2009. The empirical results show that there exists a long-run as well as short-run relationship between fertility and urbanization, female labour force participation and female education in Pakistan. The analysis indicates there is a negative relationship between all 3 determinants with fertility. Female education and urbanization ...


Eac Integration, Johansein L. Rutaihwa Mr. Jan 2012

Eac Integration, Johansein L. Rutaihwa Mr.

Johansein Rutaihwa

No abstract provided.


Internal Communication In Ireland Before And During The Economic Recession From The Perspective Of Communication Practice, Technology, And Ethics, Laoise O'Murchú Jan 2012

Internal Communication In Ireland Before And During The Economic Recession From The Perspective Of Communication Practice, Technology, And Ethics, Laoise O'Murchú

Doctoral

Internal communication in Ireland from the ‘celtic tiger’ era through to the economic
recession from the perspective of: communication practice, technology and ethics.
This thesis examines the practice of internal communication in Irish public and
private sector organisations during 2007/8 and 2010. This period spans the end of
Ireland’s ‘celtic tiger’ economy and the development of a major recession. All the
case study organisations have been affected by the credit crunch and are experiencing
economic, financial and ethical challenges.
The practices of internal communication in Ireland has evaded in depth academic
examination in communications literature. Therefore, the contribution ...