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Full-Text Articles in Macroeconomics

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 ...


Unemployment And Endogenous Reallocation Over The Business Cycle, Ludo Visschers, Carlos Carrillo-Tudela Jan 2013

Unemployment And Endogenous Reallocation Over The Business Cycle, Ludo Visschers, Carlos Carrillo-Tudela

Ludo Visschers

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between markets, in response to changing aggregate and local conditions. Empirically, using the 1986-2008 SIPP panels, we document the occupational mobility patterns of the unemployed, finding notably that occupational change of unemployed workers is procyclical. The heterogeneous-market model yields highly volatile countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when ...


Essays On The Macroeconomics Of Labor Markets, Sergiy Stetsenko May 2010

Essays On The Macroeconomics Of Labor Markets, Sergiy Stetsenko

Publicly Accessible Penn Dissertations

This dissertation consists of two essays studying macroeconomics questions about labor markets. The research in this document is separated into chapters that study distinct features of aggregate labor market outcomes.

The first essay documents the change in behavior of fertility rate at business cycle frequencies in the United States between the 1970s and 1990s and shows how the cyclical and secular properties of fertility can be used to distinguish among several proposed theories that account for the rise in labor force participation of married mothers. The model, in which households make fertility, female labor force participation and asset accumulation decisions ...