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Full-Text Articles in Macroeconomics

The Argentine Great Depression, Laira Aggarwal, Francois Ries, Alejandro Salvador May 2019

The Argentine Great Depression, Laira Aggarwal, Francois Ries, Alejandro Salvador

Undergraduate Economic Review

The purpose of this paper is to comprehend the business cycle of the Argentine Crisis (1998-2002). The following paper will outline the crisis, starting off with a comprehensive literature review on the topic, analyzing its causes and consequences, followed by a survey on the policy-responses undertaken by the Argentine government to combat the recession. The crisis will then be analyzed in the context of the IS-LM model of macroeconomics.


A Cge-Model Analysis Of U.S. Imposed Automotive Tariffs, Angela Li Apr 2019

A Cge-Model Analysis Of U.S. Imposed Automotive Tariffs, Angela Li

Undergraduate Economic Review

Using a computable generable equilibrium (CGE) model, this research paper evaluates the effects of a U.S. imposed 25% automotive import tariff on NAFTA countries and the European Union, the greatest U.S. automotive trade partners. Three simulations were conducted: the implementation of tariffs with no retaliation, equivalent retaliation on the same products, and retaliation on the top exports of politically significant states, with sensitivity analysis applied in the final scenario. The results demonstrate that the EU is marginally affected while the NAFTA countries experience the greatest increases in prices and reduction in total wages.


A Global View Of What Fixes Information Technology Skills Shortage: Panel Data Analyses Of Countries’ Human And Technology Resources, Benyawarath Nithithanatchinnapat, K. D. Joshi Mar 2019

A Global View Of What Fixes Information Technology Skills Shortage: Panel Data Analyses Of Countries’ Human And Technology Resources, Benyawarath Nithithanatchinnapat, K. D. Joshi

Journal of Global Business Insights

This paper aims to provide evidence of what fixes the information technology skills shortage. The focus is on countries' workforce development factors, i.e., human and technology. The research model was tested using secondary data from multiple sources. An ordinary least square with panel corrected standard errors was used to analyze the data. The results indicate that organizations' staff training and gender parity among science, technology, engineering, and mathematics graduates relate negatively to IT talent shortage; this is consistent in both models the authors tested. This study contributes to the IT workforce literature by being the first study that empirically ...


Hedge Funds In The Periphery: An Analysis Of Structures Influencing Fund Behavior In The Icelandic And Cypriot Financial Crises, Jameson K. Mah Mar 2019

Hedge Funds In The Periphery: An Analysis Of Structures Influencing Fund Behavior In The Icelandic And Cypriot Financial Crises, Jameson K. Mah

Undergraduate Economic Review

Hedge funds are often viewed from a positive or negative lens in the public and academic forum. However, both of these perspectives neglect structuralist factors. This paper analyzes the effect of these antecedent economic, political, and legal structures. I argue that these structures are at the root of hedge fund behavior, particularly during financial crises. The financial crises of two peripheral countries, Iceland and Cyprus, are used as case studies to illustrate how hedge fund involvement diverges as a result of structural factors.


How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz Mar 2019

How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz

Journal of Financial Crises

An insight into the July 2015 exchange between the Federal Reserve Board and the People's Bank of China (PBOC) discussing efforts to apply lessons from the 1987 "Black Monday" stock market crash to a similar crash that was occurring in China.


The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner Mar 2019

The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner

Journal of Financial Crises

This essay discusses the powers and limitations of the Federal Reserve’s role as Lender of Last Resort and how it deployed those powers during the financial crisis of 2007-2009. It considers the Fed’s authorities and the frameworks that it relied on in utilizing its powers to calm markets in turmoil and to assist specific financial institutions.


Improvements To Consumption Prediction: Machine Learning Methods And Novel Features, Ian Kinskey, Glenn Oswald, Charles Mccann, Travis Finch, Anthony Tanaydin Jan 2019

Improvements To Consumption Prediction: Machine Learning Methods And Novel Features, Ian Kinskey, Glenn Oswald, Charles Mccann, Travis Finch, Anthony Tanaydin

SMU Data Science Review

Current models for predicting personal consumption expenditures (PCE) employ statistical techniques and rely upon traditional economic features. We compare vector autoregression and random forest regression models using traditional economic features as inputs to predict PCE. Additionally, we develop novel features derived from the earnings call transcripts of publicly traded U.S. companies using natural language processing (NLP) techniques. These new features reduce the mean square error (MSE) of the vector autoregression model by 7% and the random forest model by 23%. We find the random forest models outperformed the vector autoregression models, with a MSE reduction of 68%. We conclude ...


Ten Years Of Economic Analyses For The European Marine Strategy Framework Directive: Overview Of Experiences And Lessons Learned, Rob Van Der Veeren, Ann Kathrin Buchs, Günter Hörmandinger, Soile Oinonen, Conceição Santos, Max Vretborn Dec 2018

Ten Years Of Economic Analyses For The European Marine Strategy Framework Directive: Overview Of Experiences And Lessons Learned, Rob Van Der Veeren, Ann Kathrin Buchs, Günter Hörmandinger, Soile Oinonen, Conceição Santos, Max Vretborn

Journal of Ocean and Coastal Economics

The European Marine Strategy Framework Directive, which came into force in 2008, requires from Member States inter alia to perform various (types of) economic analyses. In order to help Member States to implement this directive, the European working group on Economic and Social Analysis was initiated in 2009. This working group has developed various guidance documents which have been very useful in helping each other to understand the Directive and its requirements, to develop one language, to understand the pros and cons of various approaches, and to share experiences. However, up until now, outside of this working group this information ...


Foreign Capital Inflows And Economic Well-Being: A Statistical Analysis Of 46 Sub-Saharan African Countries From 1995-2015, Alexander M. Csanadi Oct 2018

Foreign Capital Inflows And Economic Well-Being: A Statistical Analysis Of 46 Sub-Saharan African Countries From 1995-2015, Alexander M. Csanadi

Undergraduate Economic Review

Variation in the economic well-being among sub-Saharan African countries is among the highest of any region in the world. This paper attempts to address this disparity by exploring the role of foreign capital inflows. This project extends the concept of well-being beyond GDP growth, to include measures of poverty and inequality. A multivariate regression analysis finds that the observed capital inflows have significant effects on all three measurements of well-being. Findings suggest that the level of affluence of the domestic population has significant effects on the ability of those populations to translate diaspora remittances into improvements in well-being.


Accounting For Leverage In Intangible And Tangible Investments Across The Business Cycle, Neil Mauskar Sep 2018

Accounting For Leverage In Intangible And Tangible Investments Across The Business Cycle, Neil Mauskar

Undergraduate Economic Review

In this paper, I study the role of the leverage ratio and its impact on investing in tangible and intangible goods. The results confirm the hypotheses outlined in the introduction. Specifically, the results show that when accounting for differences in the leverage ratio between firms, investment is cyclical. However, when looking only at firms with low leverages, intangible investing becomes countercyclical. Moreover, during recessions, firms with lower leverages tend to invest more than firms with higher leverages. Finally, the results argue for the existence of financial frictions between investing in tangibles and intangibles.


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 ...


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 ...


Making The Grade: The Contribution Of Education Expenditure To Economic Growth, Neil Frank Apr 2018

Making The Grade: The Contribution Of Education Expenditure To Economic Growth, Neil Frank

Undergraduate Economic Review

Does education expenditure promote long-run economic growth? Empirical evidence is inconclusive. This paper addresses the question of how education expenditure influences economic growth using a long run growth accounting model analyzing 179 countries from 1970 to 2014. Overall, the results indicate that education expenditure does positively affect growth. However, when the sample is split into different criteria based on economic prosperity of the countries in question, the results change. In non-oil countries education expenditure increases economic growth, in developing countries education expenditure has a negative impact and in OECD countries the impact is non-significant.


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 ...


The Perceived Return On College Investment In Relation To Economic Expectations Of Students At The University Of Maryland, Joshua S. Roston Nov 2017

The Perceived Return On College Investment In Relation To Economic Expectations Of Students At The University Of Maryland, Joshua S. Roston

Undergraduate Economic Review

This paper presents the results of a survey conducted in the spring semester of 2017 of University of Maryland students. The results illustrate how University of Maryland students weigh the decision to attend college in terms of their perceived current economic situation and future expectations as well as predicted return on investment. A body of economic literature on the perception of return on investment from attending college exists already and this study hopes to add to the discussion as its results are unexpected. The results imply that the current generation of college students feels uncertain over the worthwhileness of higher ...


Occam's Razor Vol. 7 - Full (2017) Jan 2017

Occam's Razor Vol. 7 - Full (2017)

Occam's Razor

No abstract provided.


Maintenance Of Value In The General Account And Valuation Of The Sdr In The Special Drawing Account Of The Imf, Robert C. Effros Dec 2016

Maintenance Of Value In The General Account And Valuation Of The Sdr In The Special Drawing Account Of The Imf, Robert C. Effros

Georgia Journal of International & Comparative Law

No abstract provided.


Education And Economic Dominance, Daniil Kashkarov Dec 2016

Education And Economic Dominance, Daniil Kashkarov

Undergraduate Economic Review

The paper examines the role of national education in achieving leading positions in global economic relations. Theoretical part uses stock of knowledge accumulated by scholars in the sphere related to human capital. Empirical part uses logistic regressions in order to test for relationship between global economic dominance and national education. Membership in the G20 is used in the models as a dependent categorical variable indicating the fact of the worldwide leadership. The models indicate that human capital and its educational part have statistically significant influence on the probability of becoming worldwide economic leader.


The Impact Of Culture, Institutions, And The Euro On Trade Flows In Europe, James Aylward Nov 2016

The Impact Of Culture, Institutions, And The Euro On Trade Flows In Europe, James Aylward

Undergraduate Economic Review

This paper sets out to study the role of cultural and institutional differences across European countries in explaining patterns of bilateral trade within Europe by using a gravity model approach on panel data for 24 European countries, covering the years 2002 through 2006. It may be expected that cultural and institutional “distance” between Eurozone countries would have a comparatively smaller impact on bilateral trade flows by virtue of the countries’ shared currency relative to the impact of such determinants on bilateral trade flows between two countries that do not share a currency. Alternatively, such determinants could have a significant impact ...


Why Ireland: How Bank Failure Was Their Key To Success, Nia R. Gillenwater Sep 2016

Why Ireland: How Bank Failure Was Their Key To Success, Nia R. Gillenwater

Claremont-UC Undergraduate Research Conference on the European Union

Despite Ireland’s status as the first EU country to receive a bailout, Ireland appears to be bouncing back extremely well from the ongoing financial crisis in Europe and the EU. Looking at recent Irish economic statistics it begs the question whether the government’s complete guarantee of all Irish debts was the best response. Ireland’s financial crisis seemed quite similar to America’s: for both the root causes are freely lending for real estate and property. The responses however, were very different. While America let Lehman Brothers fail and only provided a partial guarantee to its banks, Ireland ...


International Trade Effects Of Regional Economic Integration In Africa: The Case Of The Southern African Development Community (Sadc), Mengesha Yayo, Sisay Asefa Jul 2016

International Trade Effects Of Regional Economic Integration In Africa: The Case Of The Southern African Development Community (Sadc), Mengesha Yayo, Sisay Asefa

International Journal of African Development

Empirical studies on regional economic integration process in Africa exhibit sluggish progress, and there by limited level of intra-trade. The existing literature in Africa, particularly in the Southern African regional integration bloc, has neglected the effects of regional economic integration dealing with disaggregated data. This study analyzes trade creation and diversion effects of the Southern African Development Community (SADC) using disaggregated data. The investigation estimates an augmented gravity model using panel data and random effect estimator methods applying instrumental variables where needed.

The results show that intra-SADC trade is growing in the fuel and minerals and the heavy manufacturing sectors ...


The Distribution Of Globalized Power, Rachel Canter Apr 2016

The Distribution Of Globalized Power, Rachel Canter

Best Integrated Writing

Canter reviews Thomas Friedman’s The Lexus and the Olive Tree and observes the dissonance between our notions of globalization and global society; she offers an alternate worldview that pays respect to regional cultures and values.


Exploring Economic And Social Factors That Increase Economic And Well-Being Measurements Of Developing And Developed Countries, Kofi D. Boadu Jan 2016

Exploring Economic And Social Factors That Increase Economic And Well-Being Measurements Of Developing And Developed Countries, Kofi D. Boadu

Undergraduate Economic Review

The historical growth paths of developed and developing countries reveal the challenges that developing countries face in traveling the road from poverty to prosperity. Based on economic development literature, economic theory, and ordinary least squares (OLS) regression method, this research considers whether or not, and to what extent globalization characteristics, foreign direct investment levels (FDI), secondary school enrollment rates, information communication technology (ICT) as a percentage of trade imports, and happiness levels of 103 developing and developed countries, impact their GDP per capita levels. This paper will also take a look at alternative ways of viewing and measuring economic success.


Occam's Razor Vol. 6 - Full (2016) Jan 2016

Occam's Razor Vol. 6 - Full (2016)

Occam's Razor

No abstract provided.


Nonalcoholic Fatty Liver Disease: Cause To Treatment, Tavleen Aulakh Jan 2016

Nonalcoholic Fatty Liver Disease: Cause To Treatment, Tavleen Aulakh

Occam's Razor

Imagine two individuals, both suffering from severe liver damage. With excess fat molecules concentrated in the hepatic cells, their livers are inflamed and scarred. These deteriorating livers are also supplementing the development of chronic obesity, diabetes, cardiovascular diseases, and hyperlipidemia. While one of these individuals is a middle-aged male with a long history of alcohol addiction and abuse, the other is only thirteen years old and has never consumed alcohol. This adolescent is suffering from nonalcoholic fatty liver disease (NAFLD).


Inflation, External Market Performance And Government Policy: An Empirical Investigation Using Var-Vecm Approach In The Context Of Ethiopia, Nardos M. Beyene Dec 2015

Inflation, External Market Performance And Government Policy: An Empirical Investigation Using Var-Vecm Approach In The Context Of Ethiopia, Nardos M. Beyene

International Journal of African Development

This study aims at determining the effectiveness of demand management policies in stabilizing the macroeconomic environment of Ethiopian economy. Inflation and Balance of Payments are used as the two indicators of stability. The researcher made use of Co-integrated VAR approach and estimates inflation and balance of payments equations. All together the researcher used data for the period 1976-2011. The findings of the study imply the existence of two-way relationship between inflation and balance of payments. Excess balance of payment surplus leads to inflationary pressures in the economy while inflation booming deteriorates the country’s external balance.


Determinants Of Farm And Non-Farm Family-Controlled Child Labor, Kofi Acheampong Jul 2015

Determinants Of Farm And Non-Farm Family-Controlled Child Labor, Kofi Acheampong

International Journal of African Development

Ninety five percent of the child labor in Africa takes place in private households where children are controlled by their relatives. While this is a major problem, the literature provides little discussion on the determinants of this form of child labor. To fill this gap, I examine the determinants of farm and non-farm family-controlled child labor using data from the 2009 Ghana Time Use Survey. The findings indicate that school networks, the education level of the head of household, and religion play important roles in determining children’s activities in both farm and non-farm work.


Is All Foreign Aid The Same? : An Empirical Comparison Of The Effect Of Multilateral And Bilateral Aid On Growth, Scott B. Jeffrey May 2015

Is All Foreign Aid The Same? : An Empirical Comparison Of The Effect Of Multilateral And Bilateral Aid On Growth, Scott B. Jeffrey

Undergraduate Economic Review

Despite decades of research on foreign aid, there is little to no consensus on foreign aid’s effect on growth. While most in the field study recipient country characteristics, such as institutional quality, this paper also breaks down foreign aid by donor characteristics, specifically by bilateral and multilateral donors. Since about 75% of foreign aid is bilateral, my bilateral findings are in line with previous literature that finds high institutional quality key (Burnside and Dollar 2000; 2004), but I find that multilateral aid works best in low-income countries with poor policy environments, due, perhaps, to lacking political goals of donor ...


"What Is Love?" The Sounds Of Love From William S. Burroghs, Kathryn Cronin Jan 2015

"What Is Love?" The Sounds Of Love From William S. Burroghs, Kathryn Cronin

Occam's Razor

William Burroughs, his life and works, have a set beginning and end, but the biological and spiritual connections he draws between language, sound, and the human body appear to have undefined points of origin. Sound has always been. Language has always been. To exist outside of language and sound is to exist outside of time and space and thus outside the body. Burroughs’ theories on language, the word, and their connection to the body are woven through texts filled with structural and narrative convolutions. ­ Nova Trilogy, especially The Ticket that Exploded, as well as the early novel Naked Lunch, establish ...