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2010

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Full-Text Articles in Macroeconomics

Book Review Of Competition Law And Policy In Singapore, By Cavinder Bull, Lim Chong Kin, Academy Publishing, Singapore, 2009, Sock-Yong Phang Dec 2010

Book Review Of Competition Law And Policy In Singapore, By Cavinder Bull, Lim Chong Kin, Academy Publishing, Singapore, 2009, Sock-Yong Phang

PHANG Sock Yong

No abstract provided.


Government Intervention And Economic Growth, Maria Sarigiannidou Dec 2010

Government Intervention And Economic Growth, Maria Sarigiannidou

Doctoral Dissertations

The first essay constitutes a theory which lends truth to the Kuznets hypothesis. The attention is centered on the role of financial markets in defining the process of knowledge accumulation, and ultimately the distribution of income earning capabilities in a population of ex ante heterogeneous individuals. The provision of credit is hindered by one-sided lack of commitment embedded in the area of educational investment. Adaptation in the legislative system to accommodate a punishment scheme conditional on default is the critical requirement for the economy to be carried on a dynamic growth path, albeit one of higher and worsening inequality. Owing ...


Crisis And Global Imbalances: The Fragility Of The Current International Monetary System, Andrea Ricci Nov 2010

Crisis And Global Imbalances: The Fragility Of The Current International Monetary System, Andrea Ricci

Andrea Ricci

Global structural factors both monetary and real played a prominent role in the burst of the subprime crisis: 1) the so-called Bretton Woods II international monetary system; 2) the reduction of US real investment return compared with competing countries. We develop a two-country partial equilibrium model to analyze the impact of these factors and macroeconomic policies on the US current account and asset prices. The excess savings of US nonfinancial business sector from 2000-2001 has undermined the stability of the Bretton Woods II system. Accommodative US monetary and fiscal policies have mitigated the imbalances but in the long term structural ...


Institutional Structure And Decision Making In Sudan, Professor Issam A.W. Mohamed Nov 2010

Institutional Structure And Decision Making In Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The study here presented reviews the institutional structure of the Sudanese government. Truly, though it is stigmatized as totalitarian, the structure is phenotypically perfect. Ministry of Ministries council is supposed to cater for analyzing data concerning ministries performance, drawing strategic planning, executing them through ministries and conduct the follow-ups. Department of decision-making was created and packages for data collection and analyses were improvised. However, all these structures seem skeletal as the final decisions structurally seem to be lost between the Presidency Institution and the executive institutions. An introduced flowing chart indicates that the cycle of all decisions end up at ...


The International Society And The Sudanese National Disintegration, Professor Issam A.W. Mohamed Nov 2010

The International Society And The Sudanese National Disintegration, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The political crisis of Sudan is amplified everyday with the expansion of civil conflict from Darfur to Southern Kordofan state. The inevitable secession of Southern Sudan is threatened by the chronic crisis of Abyei pocket between the north and the south that saw open war between the two opponents; the Sudanese army and Popular Liberation of Sudan. Nevertheless, the Attorney General of the International Criminal Court, Ocambo vocalizes more concerns of humanitarian sufferings and war crimes that he claims to be continuing despite of peaceful negotiations. Such situation seems irrational with the de facto state of war that currently prevails ...


The Impact Of Tribal Structure On The Economic Parameters And Conflicts Between North And South Sudan, Professor Issam A.W. Mohamed Nov 2010

The Impact Of Tribal Structure On The Economic Parameters And Conflicts Between North And South Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The crisis of Greater Darfur Region of Sudan extends to other regions as the South Sudan prepares for secession next July 2011. In the past eight years Sudan's crisis in Darfur was amplified by global news media all over the world. Civil conflict erupted, developed into armed rebellions and open uncontrolled war that enveloped the whole region. The current inflamed undecided and unmarked future borders between the south and north are also facing growing tensions. In this current paper we present some information on what we see as the seeds of conflicts with complicated tribal structures in both sides ...


Fend For Sudan Unity, Professor Issam A.W. Mohamed Nov 2010

Fend For Sudan Unity, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Sudan is unified as a country by many bonds that are also reasons for it disintegration. From the year 2005 where Nivasha Comprehensive Peace Agreement between the North and South parts, to 2011 the efforts of dividing the country were evident. From 2005, many analysts, tried to warn of the coming consequences of the Southern part secession. There were calls for improvements of the current regime's totalitarianism, open the doors for democracy, sharing people in power and decision making and amending human standards and freedom. However, all calls fell on deaf ears. The Darfur crisis accelerated and the regime ...


International Trade, Structural Deformations And Hegemony In Islamic And Arabic Countries, Professor Issam A.W. Mohamed, Dr. Mohamed A. Osman Nov 2010

International Trade, Structural Deformations And Hegemony In Islamic And Arabic Countries, Professor Issam A.W. Mohamed, Dr. Mohamed A. Osman

Professor Issam A.W. Mohamed

Contemporary world economic situation seems gloomy with the shadows of recession in many big economies. There attempts to rectify that situation with domestic restructuring and improvements in social parameters. However, it is imperative that holistic approaches should be reviewed whereas part of them are helping developing economies to improve productivity and expand their exports and imports. The books reviews issues of international trade as presented in theories and de facto applications. Historical backgrounds are analyzed to emphasize their impacts on the present situations. Within the parameters discussed are crusades and ensuing colonization. All these foot prints are still engraved in ...


State Institutionalization, Governance And Decision Making In Sudan, Professor Issam A.W. Mohamed Nov 2010

State Institutionalization, Governance And Decision Making In Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The study here presented reviews the institutional structure of the Sudanese government. Truly, though it is stigmatized as totalitarian, the structure is phenotypically perfect. Ministry of Ministries council is supposed to cater for analyzing data concerning ministries performance, drawing strategic planning, executing them through ministries and conduct the follow-ups. Department of decision-making was created and packages for data collection and analyses were improvised. However, all these structures seem skeletal as the final decisions structurally seem to be lost between the Presidency Institution and the executive institutions. An introduced flowing chart indicates that the cycle of all decisions end up at ...


The Drivers And Dynamics Of Illicit Financial Flows From India: 1948-2008, Dev Kar Nov 2010

The Drivers And Dynamics Of Illicit Financial Flows From India: 1948-2008, Dev Kar

Dev Kar

No abstract provided.


Energy And Economic Growth: A State-Level Analysis, Nathanael D. Peach Nov 2010

Energy And Economic Growth: A State-Level Analysis, Nathanael D. Peach

Faculty Publications - School of Business

No abstract provided.


Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel Oct 2010

Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


Banks' Reserves Restrictions And Macroeconomic Parameters Of Sudanese Economy (2007-2009), Professor Issam A.W. Mohamed Oct 2010

Banks' Reserves Restrictions And Macroeconomic Parameters Of Sudanese Economy (2007-2009), Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The paper analyzes the impacts of Islamic and conventional Banks reserves' restrictions in Sudan. Comprehensively, those restrictions are necessary for health banks, performance and the viability of the macroeconomic performance in any country. The selected period of the analysis (2007-2009) is vital to study impacts of the Global Financial Crisis on the Sudanese economy. The paper introduces available data on banks institutions, macroeconomic policies and the central Bank of Sudan considering its part on controlling money supply and demand besides drawing policies for banks behaviors. It is conceivable from my conclusions here that there are conflicts between conventional and Islamic ...


Country Project, Johansein L. Rutaihwa Mr. Oct 2010

Country Project, Johansein L. Rutaihwa Mr.

Johansein Rutaihwa

No abstract provided.


A Risky Theory Of Business Cycles, David C. Thomas Oct 2010

A Risky Theory Of Business Cycles, David C. Thomas

David Chandler Thomas, PhD

Book review of Tyler Cowen's 1997 book, Risk and Business Cycles.


The Rise And Fall Of Glass-Steagall, Jeffrey Rogers Hummel, Warren C. Gibson Oct 2010

The Rise And Fall Of Glass-Steagall, Jeffrey Rogers Hummel, Warren C. Gibson

Faculty Publications

No abstract provided.


Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon Oct 2010

Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon

Research Collection School Of Economics

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the closed economy case, the downward shift of the term structure of interest ...


Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon Oct 2010

Macroeconomic Effects Of Over-Investment In Housing In An Aggregative Model Of Economic Activity, Hian Teck Hoon

Research Collection School Of Economics

Is there a theoretical basis for the view that the end of a period of over-investment necessarily leads to a period of below-normal employment as the excess capital stock is run down? We study the repercussions of a false boom in housing driven by prior expectations of future housing prices not justified by fundamentals. When these expectations are corrected, the result is a precipitous drop in housing prices and, on that account alone, some drop in employment. There is also a bulge in the housing stock. In the case of a closed economy, the downward shift of the term structure ...


Economic Crisis And External Trade In Sudan, Professor Issam A.W. Mohamed Sep 2010

Economic Crisis And External Trade In Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Nowadays, Sudan suffers severe financial crisis with the eminent demise of 75% of its oil revenues that represented over 90% of its foreign currency after the secession of its Southern part after a constitutional referendum. The compensatory revenues generating economic sectors are not able in the short, medium or runs to function due to the lack/diminished infrastructures. Hard currency exchange rates have soured against the domestic one and inflation sky-rocketed with severe recession grasping the economic cycle in the country which assess logic assumptions of stagflation. Reforming Sudan's foreign trade sector is essential though it will not replace ...


The Rise And Fall Of Glass-Steagall, Warren C. Gibson, Jeffrey Rogers Hummel Sep 2010

The Rise And Fall Of Glass-Steagall, Warren C. Gibson, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


Italian Class Actions Eight Months In: The Driving Forces, Massimiliano De Santis, Renzo Comolli, Francesco Lo Passo Sep 2010

Italian Class Actions Eight Months In: The Driving Forces, Massimiliano De Santis, Renzo Comolli, Francesco Lo Passo

Massimiliano De Santis

No abstract provided.


How Does Income Inequality Affect The Growth Of U.S. Counties?, Jeremy Roth Aug 2010

How Does Income Inequality Affect The Growth Of U.S. Counties?, Jeremy Roth

Economics Honors Projects

This paper aims to conduct a precise test of the political economy hypothesis linking income inequality and economic growth. By choosing covariates from a detailed county-level dataset and assuming that U.S. counties experience perfect capital mobility, I shut off the four possible channels linking inequality and growth other than political economy. This is a first in an empirical literature that has reported conflicting findings with observations of states and countries. I also present thematic maps to illustrate the cross-county variation in key growth determinants that is masked by state-level studies. My econometric tests find a negative association between the ...


Factors Effecting Job Satisfaction Of Employees In Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Irfan Chani, Sher Aslam, Muhammad Azam, Kashif -Ur- Rehman Aug 2010

Factors Effecting Job Satisfaction Of Employees In Pakistani Banking Sector, Ahmed Imran Hunjra, Muhammad Irfan Chani, Sher Aslam, Muhammad Azam, Kashif -Ur- Rehman

Muhammad Irfan Chani

The job satisfaction has got tremendous attention in organizational research. The focus of this study is to determine the impact of various human resource management practices like job autonomy, team work environment and leadership behavior on job satisfaction. It also investigates the major determinants of job satisfaction in Pakistani banking sector. This study further evaluates the level of difference in job satisfaction among male and female employees. The sample of the study consisted of 450 employees working in different banks of Rawalpindi, Islamabad and Lahore through the questionnaire, of which 295 were returned and processed. SPSS was used to analyze ...


Fiscal Policy, Default And Emerging Market Business Cycles, Omer K. Parmaksiz Aug 2010

Fiscal Policy, Default And Emerging Market Business Cycles, Omer K. Parmaksiz

Publicly Accessible Penn Dissertations

Developing country fiscal policy outcomes documented in data point to stark differences compared with developed ones. Most prominent difference is the excessive volatility of government consumption and transfer payments and their positive correlation relative to output. This seemingly non-optimal behavior is puzzling since it is in contrast with standard theory prescriptions and likely to contribute to aggregate volatility. To study the possible roots of this I build a model by incorporating a detailed explicit fiscal sector to what is otherwise a standard sovereign default setup. The environment I define is one of incomplete markets that resembles small open developing economies ...


Essays On Monetary Policy, Omer Bayar Aug 2010

Essays On Monetary Policy, Omer Bayar

Doctoral Dissertations

Central banks use a series of relatively small interest rate changes in adjusting their monetary policy stance. This persistence in interest rate changes is well documented by empirical monetary policy reaction functions that feature a large estimated coefficient for the lagged interest rate. The two hypotheses that explain the size of this large estimated coefficient are monetary policy inertia and serially correlated macro shocks. In the first part of my dissertation, I show that the effect of inertia on the Federal Reserve’s monthly funds rate adjustment is only moderate, and smaller than suggested by previous studies. In the second ...


The Janjaweed, The Armed Movements And The Political Disintegration Of Sudan, Issam A.W. Mohamed Professor Jul 2010

The Janjaweed, The Armed Movements And The Political Disintegration Of Sudan, Issam A.W. Mohamed Professor

Professor Issam A.W. Mohamed

The present paper is part of unpublished book divided into three interrelated manuscripts that analyze the collapse of the Sudan. The current paper concludes that the rebellion by certain in Darfur region has triggered a further a counteraction by other tribes of Arab descendants. The counter-actors were recruited by an unprecedented tyrannical regime to submit the rebels but succeeded only in genocide and the turning over the regime and started their own rebellion. That resulted in an intricate situation carrying all symptoms of chaos. Truly, the regime maintained its existence but with continuously deteriorating life condition in Darfur region. The ...


Impacts Of Islamic And Commercial Banks' Reserves Restrictions On Macroeconomic Parameters Of Sudan (2007-2009), Professor Issam A.W. Mohamed Jul 2010

Impacts Of Islamic And Commercial Banks' Reserves Restrictions On Macroeconomic Parameters Of Sudan (2007-2009), Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The paper analyzes the impacts of Islamic and conventional Banks reserves' restrictions in Sudan. Comprehensively, those restrictions are necessary for health banks, performance and the viability of the macroeconomic performance in any country. The selected period of the analysis (2007-2009) is vital to study impacts of the Global Financial Crisis on the Sudanese economy. The paper introduces available data on banks institutions, macroeconomic policies and the central Bank of Sudan considering its part on controlling money supply and demand besides drawing policies for banks behaviors. It is conceivable from my conclusions here that there are conflicts between conventional and Islamic ...


If A Pure Market Economy Is So Good, Why Doesn’T It Exist? The Importance Of Changing Preferences Versus Incentives In Social Change, Jeffrey Rogers Hummel, Edward P. Stringham Jul 2010

If A Pure Market Economy Is So Good, Why Doesn’T It Exist? The Importance Of Changing Preferences Versus Incentives In Social Change, Jeffrey Rogers Hummel, Edward P. Stringham

Faculty Publications

Many economists argue that a pure market economy cannot come about because people will always have incentives to use coercion (Cowen and Sutter, 2005; Holcombe, 2004). We maintain that these economists leave out an important factor in social change. Change can come about by altering incentives or preferences, but since most neoclassical economists ignore changing preferences, they too quickly conclude that change is impossible. History shows that social change based on changes in preferences is common. By recognizing that preferences need not be constant, political economists can say much more about changing the world.


Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore Jul 2010

Philadelphia Fed Forecasting Surveys: Their Value For Research, Dean D. Croushore

Economics Faculty Publications

The Federal Reserve Bank of Philadelphia has conducted both the Survey of Professional Forecasters and the Livingston Survey for 20 years. Both surveys of private-sector forecasters provide researchers, central bankers, news media, and the public with detailed forecasts of major macroeconomic variables. The surveys have proved helpful for people who are planning for the future, and they have also provided useful input into the decisions of policymakers at the Federal Reserve and elsewhere. In this article, Dean Croushore provides an overview of the surveys and discusses the ways in which researchers have used the surveys.


Toward A Progressive Macroeconomic Explanation, Howard J. Sherman Jun 2010

Toward A Progressive Macroeconomic Explanation, Howard J. Sherman

HOWARD J SHERMAN

No abstract provided.