Open Access. Powered by Scholars. Published by Universities.®

Macroeconomics Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 16 of 16

Full-Text Articles in Macroeconomics

Three Essays On Growth, Housing Market And Inequality, Shahrzad Ghourchian Jun 2018

Three Essays On Growth, Housing Market And Inequality, Shahrzad Ghourchian

FIU Electronic Theses and Dissertations

This dissertation includes three essays on growth, the housing market, and inequality. In the first essay, I analyze the effects of government consumption and government debt on long-run economic growth by considering the economic characteristics of the countries investigated. Linear regressions reveal that government consumption has a much bigger negative impact on long-run growth compared with the negative (and sometimes insignificant) effects of government debt. Nonlinear analyses further show that such effects are highly impacted by the economic characteristics of the countries investigated.

In the second essay, I study time-series fluctuations in the United States housing market from 2010 to ...


Growing Through The Merger And Acquisition, Jianhuan Xu Jul 2017

Growing Through The Merger And Acquisition, Jianhuan Xu

Research Collection School Of Economics

The paper studies with an endogenous growth model how the merger and acquisition (M&A) affects the aggregate growth rate. We model the M&A as a capital reallocation process, which can increase both productivity and growth rates of firms. The model is tractable and greatly consistent with patterns observed in the M&A at the micro level. Matching our model to the data, we find that prohibiting the M&A would lead to the reduction of the aggregate growth rate of US economy by 0.1% and the reduction of the aggregate TFP by 5%.


From The Classical School To Today: The Evolution Of Stagnation Theories, Francis J. Lukacovic Ii May 2016

From The Classical School To Today: The Evolution Of Stagnation Theories, Francis J. Lukacovic Ii

Applied Economics Theses

The purpose of this thesis is to study the theory of secular stagnation, which was made famous by the American Keynesian economist Alvin Hansen in his book Full Recovery or Stagnation. The theory of secular stagnation has reappeared in economic circles today due to recent economic conditions since the financial crisis of 2007-2008. The thesis will analyze the history of the stagnation theory dating back to Classical economists in the 19th century. The concept of a stagnating economy has been talked about for centuries with many economists adding important thoughts. Furthermore, the thesis will address the current questions and ...


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 ...


Privatization & Fdi: Examining Growth In Vietnam's Provinces, William T. Clark May 2015

Privatization & Fdi: Examining Growth In Vietnam's Provinces, William T. Clark

Master's Theses

Over the past three decades many developing countries have looked toward privatizing investment markets and relying more on Foreign Direct Investment (FDI) to supply needed capital investment for their emerging private sectors. In their pursuit of foreign capital, developing countries have enacted several changes in economic policy and regulation in hopes of transforming formerly rural and undeveloped countries into highly urbanized centers of global production. This is particularly true for a transitioning economy such as Vietnam, which has seen increasing privatization of industry and investment since the reforms of 1986 known as “Doi Moi.” In this study I investigate the ...


Economic Growth And Development In Sub-Saharan Africa, Asia, And Latin America: The Impact Of Human Capital, Angui D. Macham May 2015

Economic Growth And Development In Sub-Saharan Africa, Asia, And Latin America: The Impact Of Human Capital, Angui D. Macham

Applied Economics Theses

My thesis is that human capital has been important to growth, but has had differential impact in three areas: Sub-Sahara Africa; Asia; and Latin America. I estimated three regional models to determine the impact of human capital on the growth of gross domestic product (GDP) per capita. Each model was estimated using the pooled OLS approach with a sample of 10 countries within each region. I make use of data from the Penn World Table- international comparisons of production data bank. I found that only the African region had statistically significant coefficients for both physical and human capital. For the ...


Essays On Inequality, Credit Constraints, And Growth In Contemporary Mexico, Leopoldo Gómez-Ramírez Jan 2015

Essays On Inequality, Credit Constraints, And Growth In Contemporary Mexico, Leopoldo Gómez-Ramírez

Doctoral Dissertations

This dissertation presents four essays on inequality, credit constraints, and economic growth in the Mexican economy in its recent history, or “contemporary Mexico”. In the first essay, it is argued that the possibility that wealth/income inequality could affect economic growth has been neglected in the contemporary Mexican economy literature. Also, preliminary thoughts on the channels through which inequality could have been affecting growth are offered. In the second essay, a time series, macroeconometric analysis on the possible relationship between inequality and aggregate production (GDP) in Mexico is presented. The analysis suggests that an increase in inequality boosts the economy ...


Benchmarking Structural Transformation Across The World, Era Dabla-Norris, Alun H. Thomas, Rodrigo Garcia-Verdu, Yingyuan Chen Dec 2013

Benchmarking Structural Transformation Across The World, Era Dabla-Norris, Alun H. Thomas, Rodrigo Garcia-Verdu, Yingyuan Chen

Rodrigo Garcia-Verdu

Presentation given at the IMF's Jobs and Growth Seminar on December 13, 2013, based on the IMF Working Paper No. 13/176 with the same name


Essays In Macroeconomics Of Development, Douwere Eric Grekou Apr 2013

Essays In Macroeconomics Of Development, Douwere Eric Grekou

Electronic Thesis and Dissertation Repository

This thesis consists of three chapters on macroeconomics of development. The first chapter discusses the impact of educational corruption on economic development. Its main contribution lies in quantifying two channels of educational corruption: a direct channel, whereby incompetent workers affect production due to a misallocation of talent, and a dynamic indirect channel, which can be referred to as a teacher’s effect on the availability of competent agents for production. The results suggest that, for the countries with the highest levels of educational corruption, the losses in output per capita induced by the indirect channel are ten times as large ...


The Role Of Islamic Banking In Economic Growth, Katherine Johnson Jan 2013

The Role Of Islamic Banking In Economic Growth, Katherine Johnson

CMC Senior Theses

Islamic banking is currently one of the fastest growing segments of the financial market industry, operating in over 75 countries through 300 institutions. While past literature has established the development of financial institutions as a determinant of economic growth, research on the correlation of the diffusion of Islamic banking with economic growth is limited. This study seeks to add to the literature by empirically analyzing the economic growth determinative power of Islamic banks. Confirming past research, Muslim prevalence in a population is found to be the most significant determinant of the diffusion of Islamic banks. Using this exogenous instrument in ...


Aspectos Macroeconómicos Do Crescimento Inclusivo, Rodrigo Garcia-Verdu, Victor D. Lledó Jan 2011

Aspectos Macroeconómicos Do Crescimento Inclusivo, Rodrigo Garcia-Verdu, Victor D. Lledó

Rodrigo Garcia-Verdu

No abstract provided.


Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess May 2009

Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess

CMC Faculty Publications and Research

We perform an empirical investigation to estimate the macroeconomic cost of September 11 attacks on the United States economy. We estimate the impact of the attacks to be approximately a 0.50 percentage point decrease in GDP growth or $60 billion. Our upper bound estimate of the impact of September 11 is approximately twice that or $125 billion.


Central Asia's Transition After Fifteen Years: Growth And Policy Choices, Malcolm Dowling, Ganeshan Vignaraja Feb 2006

Central Asia's Transition After Fifteen Years: Growth And Policy Choices, Malcolm Dowling, Ganeshan Vignaraja

Research Collection School Of Economics

This paper presents a coherent and systematic analysis of the collapse and subsequent revival of the Central Asian Republics (CARs) since 1990. The focus is on the pattern of growth and structural change during the cycle of decline and subsequent revival in the CARs which have been inadequately analyzed in the literature on transition. The paper relates economic performance to initial conditions, country characteristics and policies. Within this framework, it proposes a simple typology of policies (including a new Type III set of policies on regional cooperation and industrial competitiveness) and relates them to the cycle of decline and revival ...


Factor Substitution And Endogenous Growth, Hing-Man Leung Dec 2001

Factor Substitution And Endogenous Growth, Hing-Man Leung

Research Collection School Of Economics

We argue that the degree of substitutability between skilled and unskilled workers in production increases long-term income growth rate. Growth rate reaches its maximum when such factors are perfect substitutes, but falls to zero when they are perfect complements. This model brings together the diverging relative wage and the human-capital-growth literature. Easier substitution absorbs more workers into the skilled profession, and their training fuels human capital accumulation and growth. Our result implies, among other things, that growth is positively related to between-and within-group inequality.


How Do Forecasts Respond To Changes In Monetary Policy?, Laurence Ball, Dean D. Croushore Oct 2001

How Do Forecasts Respond To Changes In Monetary Policy?, Laurence Ball, Dean D. Croushore

Economics Faculty Publications

Just as changes in atmospheric conditions affect weather forecasts, changes in monetary policy affect economic forecasts. When monetary policy shifts, forecasters change their predictions about growth and inflation. But does the economy change to the same extent that forecasts do? In this article, Laurence Ball and Dean Croushore examine forecasts from the Survey of Professional Forecasters to determine if forecasts and the economy respond in tandem or if there are significant differences.


Un Modelo De Equilibrio General Dinámico Del Impuesto Al Activo, Rodrigo Garcia-Verdu Dec 1995

Un Modelo De Equilibrio General Dinámico Del Impuesto Al Activo, Rodrigo Garcia-Verdu

Rodrigo Garcia-Verdu

Este trabajo extiende el modelo neoclásico de crecimiento para incluir un impuesto al activo como instrumento adicional de política fiscal, analizándose los efectos sobre la formación de capital. Por otra parte, son establecidas las condiciones bajo las cuales el impuesto al activo es equivalente al impuesto al ingreso generado por los activos de una economía. Además las conclusiones alcanzadas son comparadas con las de un modelo existente en la literatura. Finalmente, las implicaciones de los resultados del trabajo son desarrolladas para el caso de México.