# Macroeconomics Commons™

Articles 1 - 30 of 121

## Full-Text Articles in Macroeconomics

Weak-Form Market Efficiency And Calendar Anomalies For Eastern Europe Equity Markets, Francesco Guidi, Rakesh Gupta, Suneel Maheshwari Aug 2012

#### Weak-Form Market Efficiency And Calendar Anomalies For Eastern Europe Equity Markets, Francesco Guidi, Rakesh Gupta, Suneel Maheshwari

##### Suneel K. Maheshwari

No abstract provided.

Dec 2011

#### Interest Rate Policy In China: The Impact Of Suppressed Deposit Rates On Household Income From 2000-2007, Zhuliang James Zhang

An often-overlooked impact of China’s policy of maintaining low interest has been the suppression of household interest income, which has increased the propensity of households to save while decreasing their consumption rates. This paper posits that from 2000 to 2007, deposit rates in China were suppressed annually by around 720 basis points, imposing an implicit tax on annual per-capita income of 12.8% on average. Raising deposit rates will increase household income and boost consumption in the medium-term if the Chinese government is able to initiate policy shifts that distribute the gains of economic growth more equitably to households ...

Dec 2011

#### Daily Stock Market Movement From Oscillating Social Mood Factors, Cari Bourette

##### Cari Bourette

Since 2006, there has been ongoing research into the correlation of a set of oscillating mood factors and socioeconomic, geopolitical, and natural events with the goal of forecasting increased risks of destabilizing events. While promising results have been forthcoming, it has been difficult to present models that allowed those outside a small circle of specialists to participate. Between July 2007 and June 2010, weekly social mood projections, as published in monthly issues of MoodCompass, were used to develop a model to convert four oscillating mood factors into stock market expectations. This model was modified to generate signals of projected stock ...

Essays On An Asean Optimal Currency Area, Kathryn J. Whittaker Huff Dec 2011

#### Essays On An Asean Optimal Currency Area, Kathryn J. Whittaker Huff

##### University of New Orleans Theses and Dissertations

Many regions of the world would like to replicate the financial and monetary integration of the European Monetary Union (EMU). Member countries of the Association of Southeast Asian Nations (ASEAN) have shown an interest in such an arrangement. ASEAN is a political, cultural, and economic association that includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Many of these nations are experiencing rapid economic development while others are still relatively poor and under developed. As such, they appear to be an unlikely group for currency unification. Older studies suggest that multiple currency union groupings may be ...

Dec 2011

#### Understanding The Legitimacy Of Both Dissension And Acceptance Of Accommodative Monetary Policy, Maximilian Bevan

##### Maximilian Bevan

No abstract provided.

Exploring The Nexus Between Trade, Visitor Arrivals, Remittances And Income In The Pacific: A Study Of Vanuatu, Ronald R. Kumar, Vijay Naidu, Radika Kumar Nov 2011

#### Exploring The Nexus Between Trade, Visitor Arrivals, Remittances And Income In The Pacific: A Study Of Vanuatu, Ronald R. Kumar, Vijay Naidu, Radika Kumar

##### Dr Ronald R Kumar

We explore the contributions of trade openness, remittance inflows and expansion in tourism towards improving income in Vanuatu over the periods 1983-2009 using the augmented Solow approach and the ARDL bounds test. The results show trade openness and remittances have a positive and statistically significant effect on the long run growth of the economy while tourism expansion is not statistically significant. For a broad-based development policy we propose: remittance inflows need to be encouraged and additional remittance markets to be explored; trade negotiations with specific focus on temporary movement of natural persons need to be prioritized; and ensuring access to ...

#### Nexus Between Financial And Technology Inclusion, Remittances And Trade Openness Vis-À-Vis Growth: A Study Of Nepal, Ronald R. Kumar

##### Dr Ronald R Kumar

No abstract provided.

Nov 2011

#### Trade, Aid, Remittances And Financial Development: The Case Of Pakistan, Ronald Kumar

##### Dr Ronald R Kumar

In this paper, we explore the role of trade openness, overseas development aid (ODA), remittance inflows and financial development vis-à-vis income in Pakistan for the periods 1980-2010 using the bounds procedure within the augmented Solow-model approach. In the long-run, trade openness, ODA, and remittances have a significant positive effect on the income level, while financial development is not statistically significant. In the short run, ODA has contributed positively towards income growth while remittances, trade openness and financial development have lagged negative effects, thus underscoring somewhat different behaviour of aid and remittance inflows. Accordingly, for development policy discourse, we emphasise the ...

Real Sdr Currency Board, Warren Coats Nov 2011

#### Real Sdr Currency Board, Warren Coats

##### Warren Coats

An enhanced special drawing right (SDR), valued by a basket of goods, would provide the global currency and reserve asset the global economy craves. This paper proposes linking the value of the International Monetary Fund’s SDR and national currencies that fix their exchange rates to the SDR to a representative basket of widely traded goods. The new “real SDR” would be issued and redeemed passively according to “Currency Board” rules in exchange for financial assets with the same market value as the basket. National currencies and/or an international reserve currency with the same value (i.e. fixed to ...

Nov 2011

#### La Sociedad Mercantil Unipersonal: Pertinencia De Su Utilización En México, Max Garcia

##### Max Garcia Sanchez

No abstract provided.

Reemplazando El Consenso De Washington Por El Consenso De Suramérica, Francisco Carlos Ruiz Diaz Nov 2011

#### Reemplazando El Consenso De Washington Por El Consenso De Suramérica, Francisco Carlos Ruiz Diaz

##### Francisco Carlos Ruiz Diaz

A principios de la década de 1990 los organismos internacionales consensuaron una serie de medidas que debían ser incorporadas en las estrategias de crecimiento de los países en desarrollo. Este conjunto de reglas, surgidas de una lista preparada por John Williamson, se conoció como el “Consenso de Washington”. A partir de las mismas, los organismos financieros internacionales condicionaron a los países en desarrollo la concesión de ayudas no reembolsables y líneas de créditos, sujetos a la implementación de políticas económicas concebidas bajo las doctrinas ortodoxas: liberalización económica, privatización de las empresas públicas, desmantelamiento de los incentivos a las exportaciones y ...

#### Trade Reforms And Performances Of Manufacturing Sector In Tanzania: A Case Of Employment, Wage And Output Performance Of Textile And Clothing Industry, Johansein L. Rutaihwa Mr.

##### Johansein Rutaihwa

The objective of this study is to investigate the effect of trade liberalization on employment performance of textile industry in Tanzania. The basic issue of concern is that the implementation of trade liberalization has differential impact on employment and wage in many African countries. In addressing this issue as well as achieving the objective, econometric models of employment and wage are estimated using co-integration method of analysis. The analysis shows that effective rate of protection and export intensity have an insignificant positive impact on demand for labour, but import penetration has a significant negative impact on employment. Also, only import ...

Impacts Of Social Upbringing On Family Integration In Military Life In Sudan, Professor Issam A.W. Mohamed Oct 2011

#### Impacts Of Social Upbringing On Family Integration In Military Life In Sudan, Professor Issam A.W. Mohamed

##### Professor Issam A.W. Mohamed

In a country on the eve of losing one third of its land, 80% of potential natural resources and 75% of external exports value, economic future seems gloomy. Many opinions were given for economic solutions after the Southern Sudan secession. However, that does not support a theoretical framework that those are the only reasons for the expected economic collapse. Our theory here is that such collapse already happened because of economic mismanagement, corruption and hoarding initiated by the calls for empowerment and carried out by the regime's members. Such acts extended to the banks, economic institutions and randomized privatization ...

Multinational Companies And Investments In Sudan: Case Study Of Oil Exploration And Extraction, Professor Issam A.W. Mohamed Oct 2011

#### Multinational Companies And Investments In Sudan: Case Study Of Oil Exploration And Extraction, Professor Issam A.W. Mohamed

##### Professor Issam A.W. Mohamed

The purpose of this paper is to present the role of multinational companies in general then its role in Sudan with particular emphasis on oil exploration and extraction. Chinese companies of multinationalities currently control the newly born oil industry in the country. Needless to say that the dire needs of the government because of its international isolation and sanctions compelled it to be subjected to bellow standards conditions in all economic and environmental aspects. The government accepted the conditions for the past twelve years. However, the secession of Southern Sudan into new country gives better re-negotiations opportunity to the newly ...

#### Economic Empowerment And Hiv Prevention Among Young Women And Girls In Kenya: Lessons From The Study Of Economic Empowerment Programs, Samantha Van Putten

##### Independent Study Project (ISP) Collection

One of the major issues facing Kenya is HIV/AIDS. With recognition by the global community that providing women with economic opportunities can help both those who are HIV positive, as well as in prevention for those who are not infected, programs combining microfinance and HIV education have started to emerge. While women in these programs 3 3 have shown preliminary signs of success, young girls did not respond as well in part due to lack of interest in the particular programs themselves. As such, this study examines two economic empowerment programs for girls and young mothers at the non-governmental ...

Are Homegrown Islamic Terrorists Different? Some Uk Evidence, John Thornton Sep 2011

#### Are Homegrown Islamic Terrorists Different? Some Uk Evidence, John Thornton

##### John Thornton

We compare the characteristics of 77 homegrown Islamic terrorists in the UK to a representative sample of 1363 UK Muslims. UK Muslims are more likely to participate in terrorist acts if they are better educated and young. Other predictors of UK Muslims being involved in terrorism are employment status, UK citizenship, and ethnic origin.

Rediscovering Old Roots: Bulgaria And Agricultural Possibilities, Miranda S. Becker Aug 2011

#### Rediscovering Old Roots: Bulgaria And Agricultural Possibilities, Miranda S. Becker

##### The Undergraduate Journal of Social Studies

Bulgaria’s domestic industry in agriculture has gone through a fast series of shifts over the past sixty years. In 1947, like other East European states, it began to break ties with the Western world by refusing Marshall Plan aid following World War II, and by joining the Communist Information Bureau. From this point until 1989, Bulgaria was steeped in a centrally-planned Soviet-styled economy marked by an emphasis upon output production, urbanisation, and industrialisation. With 1989 came the fall of Bulgaria’s communist regime and the beginning of a transition to a market economy. In 1991, Bulgaria began negotiations with ...

Essays In Quantitative Economics And International Finance, Serhiy Stepanchuk Aug 2011

#### Essays In Quantitative Economics And International Finance, Serhiy Stepanchuk

##### Publicly Accessible Penn Dissertations

This dissertation uses quantitative dynamic models to study two separate questions in international finance and international labor markets.

In Chapter 2, we build a two-country two-good incomplete markets general equilibrium model of international portfolio choice, and use it to study global imbalances, in particular the large negative net foreign asset position, and international portfolio composition of the United States. We show that the exorbitant privilege'' of the US (ability to borrow in domestic currency) and lower volatility of macroeconomic shocks that the US has experienced since mid-80s can account for a large part of the negative net foreign position of ...

A Macroeconomic Approach To A Firm's Capital Structure, Mitsuru Katagiri Aug 2011

#### A Macroeconomic Approach To A Firm's Capital Structure, Mitsuru Katagiri

##### Publicly Accessible Penn Dissertations

In this paper, I investigate the logic behind cross sectional dispersion of firm's capital structure. I incorporate the trade off between tax benefits and financial distress costs into a dynamic general equilibrium model with heterogeneous firms and their endogenous entry/exit, and compute an equilibrium firm distribution.

The main findings are summarized as follows. First, I find that the equilibrium distribution approximates the dispersion of firms' capital structure well. Second, I find that it simultaneously accounts for the relationship of capital structure to profitability \textit{and} firm size. The key mechanisms are the difference in responses to persistent and ...

Essays On The Western Labor Markets, Hans A. Holter Aug 2011

#### Essays On The Western Labor Markets, Hans A. Holter

##### Publicly Accessible Penn Dissertations

In Chapter 2, "Accounting for Cross-Country Differences in Intergenerational Earnings Persistence: The Impact of Taxation and Public Education Expenditure," I study the determinants of cross-country differences in intergenerational earnings persistence between fathers and sons. Western economies exhibit substantial differences in the degree of intergenerational earnings persistence between fathers and sons. Earnings persistence is relatively low in Northern Europe and relatively high in the US, Britain, and Southern Europe. In this chapter I first document that there is a strong negative cross-country correlation between intergenerational earnings persistence and tax progressivity, and intergenerational earnings persistence and public expenditure on tertiary education. I ...

Impacts Of Formal Financing On The Development Of The Sudanese Agricultural Sector, Issam A.W. Mohamed Professor Aug 2011

#### Impacts Of Formal Financing On The Development Of The Sudanese Agricultural Sector, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

The agricultural sector of Sudan is faced by many problems. In the irrigated schemes, the government who officially owns most of them there are entrenched managerial problems that brewed for more than six decades. Moreover, the privatization policies of those schemes provoked many outcries and protests. Large schemes like Gezira have collapsed, this year 2011, only 10% of its over one million hectares were cultivated. The rainfed farming is not different with lack of machineries, shortages of available labor and high priced agricultural inputs, it is not expected to fare better than the irrigated schemes. However, even if those problems ...

African Economic Blocs And Trade: Case Study Of Comesa And Sudan, Issam A.W. Mohamed Professor Aug 2011

#### African Economic Blocs And Trade: Case Study Of Comesa And Sudan, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

Comprehensively, Economic Trade Partnerships and Blocs are important to a member country. However, with the continuing global financial distresses it is useful to evaluate them to maximize possible benefit. The question of joining, continue membership with the Comesa is vital to the Sudanese economy that presently stands in a very decisive time. The Common Market for Eastern and Southern Africa is a free trade area with nineteen member states stretching from Libya to Zimbabwe. COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area in ...

Economic Papers Online, Issam A.W. Mohamed Professor Aug 2011

#### Economic Papers Online, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

Those are economic papers online on the pages of Econpaper by Issam AW Mohamed

Review Of The Role Of Agriculture In Sudan Economy, Issam A.W. Mohamed Professor Aug 2011

#### Review Of The Role Of Agriculture In Sudan Economy, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

The calamities of Sudan expand on daily basis. The secession of Southern Sudan has deprived the country of 25% of it total area, 24% of population, over 80% of its oil income. Moreover, it has separated with 75% of it vegetation cover and 30% of potential arable land. In addition, Sudan stands to tolerate at least 25% of its water resources. Economic situation precarious with the Darfur rebellions, the inception of Southern Kordofan's region civil strive and the inflamed complaints in its Blue Nile region. That resulted besides deprivation of oil revenues and other potentials to increased cost of ...

Effects Of The Humanitarian Aid, Internal Displacement On The Social Impacts In Sudan, Professor Issam A.W. Mohamed Aug 2011

#### Effects Of The Humanitarian Aid, Internal Displacement On The Social Impacts In Sudan, Professor Issam A.W. Mohamed

##### Professor Issam A.W. Mohamed

The study presented here reviews activities of NGOs in Sudan by surveying and studying the activities of Save the Children of United Kingdom. Activities of NGOs in Sudan were always a controversial issue that resulted in the expulsion of many in 2009. There were also precedents of such expulsions in previous and following years. The paper discusses humanitarian work in Sudan, positive and negative sides. The case study's activities of the Save the Children efforts in Jebel Aulia Internally Displaced People, specially their efforts in education were investigated. It is concluded that introduce invaluable help in educational field, building ...

#### Will Specialization Continue Forever? A Case Study Of Interactions Between Industry Specialization And Diversity, Xiaobing Shuai

##### School of Professional and Continuing Studies Faculty Publications

This paper studies the interactions between industry specialization and diversity. Several studies have shown that competitive industries in a region grew faster, thus expanding their shares in overall employment. The implication is that a region will become more specialized in its competitive industries and the process will continue forever barring external intervention. Utilizing an econometric model on county level employment growth in Virginia, this study confirms that competitive industries experience faster employment growth, reinforcing specialization. However, as specialization proceeds, it reduces economic diversity. That will hurt job creation, as economic diversity also stimulates employment growth. The interactions between specialization and ...

Aug 2011

#### Testing For Weak Form Market Efficiency In Indian Foreign Exchange Makret, Anoop Sasikumar

##### Anoop Sasikumar

This paper attempts to examine the weak form of market efficiency in the Indian foreign exchange market using a family of variance ratio tests. Monthly Nominal Effective Exchange Rate (NEER) data from April 1993-June 2010 were used for the analysis. NEER series was considered for the analysis as it is supposed to capture more information compared to the bilateral exchange rates. Three individual variance ratio tests as well as three joint variance ratio tests were used for the purpose of analysis. After analyzing the results from both individual and joint variance ratio test, it was concluded that Indian foreign exchange ...

Global Financial Crisis And Effects On The Agricultural Sector Of Sudan, Issam A.W. Mohamed Professor Jul 2011

#### Global Financial Crisis And Effects On The Agricultural Sector Of Sudan, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

The severe impacts of the global financial crisis had effects on all world. However, in Sudan scientists and researchers were greatly shocked because of the governmental camouflaging on their real effects on the economy. Minister of National Economy and Finance denied the effects on the Sudanese economy. The governor of the Sudan Central bank did the same with emphasis from both that everything are quite and normal and that Sudan can absorb all shocks on its economic performance. Truly, they ave eaten their words in the following months and confessed the partial effects on the Sudanese economy. Moreover, after they ...

Thieves Or Doctors, Armed Civil Conflicts In Darfur And Impacts On Education In Refugees Camps, Professor Issam A.W. Mohamed Jul 2011

#### Thieves Or Doctors, Armed Civil Conflicts In Darfur And Impacts On Education In Refugees Camps, Professor Issam A.W. Mohamed

##### Professor Issam A.W. Mohamed

The study presented here depends on a field survey of refugees' camps in war strived Darfur region. The data are genuine from people and children. The expelling of NGOs from the region was a moral shock to the whole world, but in Darfur, it was a humanitarian catastrophe affecting the population. In this paper, I surveyed and analyzed data on what I consider the most important factor which are children and establish education as the base of the arguments introduced here. A case study is introduced which is Attash refugees or displaced camp were produced. Data were collected by field ...

Impacts Of Sudan Macroeconomic Policy On Agriculture, Issam A.W. Mohamed Professor Jul 2011

#### Impacts Of Sudan Macroeconomic Policy On Agriculture, Issam A.W. Mohamed Professor

##### Professor Issam A.W. Mohamed

The crisis of Southern Sudan and eminent secession in 9 July 2011 is a nightmare to the Sudanese national economy. The dependence on oil revenue that controlled the country for the past 11 years and negligence of the other real economy's economic sectors, agriculture and industry severely threatens the country. That is not only with diminished returns but with also with economic nightmarish economic catastrophe, famine and internal implosion. Short-sightedness on utilizing the oil money that bubbled the economy atrophied the real economic sectors and disabled it from responding to secession consequences of parting with 75% of revenues from ...