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Full-Text Articles in 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.


Trends And Tariffs: Nebraska In An Aging Recovery, Eric Thompson Feb 2019

Trends And Tariffs: Nebraska In An Aging Recovery, Eric Thompson

Business in Nebraska

Nebraska will record solid economic growth during the forecast period but will lag U.S. growth. Nebraska’s large farming sector is struggling and will not contribute much to economic growth during the forecast period. Job growth also will be sluggish in transportation and retail trade. Job growth, however, will be stronger in the services, finance, manufacturing and construction. Projected growth rates for 2019 to 2021 are presented in Table 1.

Employment will grow by 0.7% to 0.9% per year, below the national rate. Nonfarm income will grow between 4.4% and 4.5% each year. This growth ...


The Political Economy Of Accumulation In South Africa: Resource Extraction, Financialization, And Capital Flight As Barriers To Investment And Employment Growth, Seeraj Mohamed Jan 2019

The Political Economy Of Accumulation In South Africa: Resource Extraction, Financialization, And Capital Flight As Barriers To Investment And Employment Growth, Seeraj Mohamed

Doctoral Dissertations

This dissertation uses a heterodox economics approach to explain poor levels of accumulation in South Africa. This approach to investment theory and models recognizes that many institutions are shaped to help people create stability in a world of fundamental uncertainty and irreversibility. Therefore, this dissertation examines the system of accumulation that developed in South Africa and its evolution. This approach to investment recognizes that beliefs and biases of people running institutions influence investment outcomes and shape ‘path dependence’.

The corporations that grew to dominate the South African economy were formed during colonialism and apartheid. They grew around a core of ...


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 ...


Macroeconomics Course Outline And Syllabus, Sean P. Macdonald Apr 2018

Macroeconomics Course Outline And Syllabus, Sean P. Macdonald

Open Educational Resources

No abstract provided.


Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita Feb 2018

Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita

All Dissertations, Theses, and Capstone Projects

This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our ...


Essays On Debt In Macroeconomics, James G. Partridge Jul 2017

Essays On Debt In Macroeconomics, James G. Partridge

Electronic Thesis and Dissertation Repository

My dissertation consists of three chapters, where the common theme among them is debt and saving. My work contributes to our understanding of how debt markets function for entrepreneurs, large corporations and households.

The first chapter studies how entrepreneurs used personal borrowing to fund their businesses during the Great Recession. One of the defining characteristics of this period was a “credit crunch” during which the supply of credit dropped for all borrowers. I show that changes in the finances of entrepreneurs between 2007 and 2009 are consistent with entrepreneurs using personal assets to secure lending for their businesses and overcome ...


Zero Textbook Cost Syllabus For Economics 201 (Macroeconomic Theory), Bettina E. Berch Apr 2017

Zero Textbook Cost Syllabus For Economics 201 (Macroeconomic Theory), Bettina E. Berch

Open Educational Resources

This is a zero textbook cost syllabus for teaching macroeconomic theory at the 200 level at a community college. It is designed for a one semester course, using a creative commons textbook and a variety of open source podcasts, newspaper articles, and other materials available to CUNY students.


Principles Of Macroeconomics, Jesse Zinn, Lari Arjomand, Nikki Finlay, Reza Kheirandish, Gay Solomon Apr 2016

Principles Of Macroeconomics, Jesse Zinn, Lari Arjomand, Nikki Finlay, Reza Kheirandish, Gay Solomon

Business Administration, Management, and Economics Grants Collections

This Grants Collection for Principles of Macroeconomics was created under a Round Two ALG Textbook Transformation Grant.

Affordable Learning Georgia Grants Collections are intended to provide faculty with the frameworks to quickly implement or revise the same materials as a Textbook Transformation Grants team, along with the aims and lessons learned from project teams during the implementation process.

Documents are in .pdf format, with a separate .docx (Word) version available for download. Each collection contains the following materials:

  • Linked Syllabus
  • Initial Proposal
  • Final Report


Three Essays On U.S. Household Debt And The Sources Of Systemic Financial Fragility, Thomas Herndon Jan 2016

Three Essays On U.S. Household Debt And The Sources Of Systemic Financial Fragility, Thomas Herndon

Doctoral Dissertations

This dissertation consists of three essays which analyze the role of household debt in the financial crisis of 2007-2009, and weak recovery that followed. In these essays, I pursue the following research topics: 1) Estimation of the effects of mortgage fraud on losses to foreclosure, 2) Estimation of whether loan modifications increased or decreased debt, and 3) Analyzing the historical evolution of housing finance regulation to advance a proposal for reform. While formally independent, these essays share a common theoretical perspective located at the intersection of financial macroeconomics and political economy. These essays analyze how conflicts of interest and inside ...


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 ...


An Experimental Analysis Of Adaptive Learning In A Multi-Subject Economy, David Martin Apr 2015

An Experimental Analysis Of Adaptive Learning In A Multi-Subject Economy, David Martin

Business and Economics Honors Papers

The rational expectations hypothesis (REH) has long served as a foundation in macroeconomic laws of motion. However, the assumptions of REH are likely too powerful to be representative of economic actors. This research evaluates adaptive learning, a developing alternative to rational expectations, using a multi-agent macroeconomic prediction “game.” Data was gathered from a group of students, each predicting the outcome of a single economy over time. Each agent was asked to forecast output (GDP) and inflation in each period based on historic levels of output, inflation, and interest rates. These data were then analyzed under various theoretical models of adaptive ...


Principles Of Macroeconomic Literacy, John Scott Jan 2015

Principles Of Macroeconomic Literacy, John Scott

UNG Press Books

A Macroeconomics text that is economically sound, this textbook makes a unique contribution to the field of Macroeconomics. While outlining the basics of Microeconomics and defining the terms that measure aggregate economic outcomes, this textbook moves beyond the traditional Macroeconomics textbook by placing the individual, that is, the student, at the center of analysis. A course based upon this text is likely to provide real value for the curious student.

It also includes such critical Economics topics—that traditional texts usually ignore—as “Supply and Demand,” Public Choice Theory, Alternative Economic Systems, Subjective Value Theory, and Competing Schools of Economic ...


Sustainability In The Curriculum And Teaching Of Economics: Transforming Introductory Macroeconomics, Madhavi Venkatesan Jan 2015

Sustainability In The Curriculum And Teaching Of Economics: Transforming Introductory Macroeconomics, Madhavi Venkatesan

Economics Faculty Publications

Present models of economic growth primarily focus on the role of expenditures as captured in the commonly cited economic indicator, gross domestic product (GDP), where GDP is defined as the sum of final goods and services sold within a country’s natural borders. Noting that a country’s expenditures are referred to as “aggregate expenditures” and that the majority of spending is specific to consumption or consumer spending, especially in the United States where this spending category is nearly two-thirds of annual GDP (other expenditure categories for GDP include investment spending, government spending and foreign spending as proxied by net ...


The Macroeconomics Of The Declining U.S. Labor Share: A Debt-Led Explanation, Alex Jianan Xu Jan 2015

The Macroeconomics Of The Declining U.S. Labor Share: A Debt-Led Explanation, Alex Jianan Xu

Senior Projects Spring 2015

This paper aims to answer two major conundrums in macroeconomic theory with regards to the U.S. economy. First, standard macroeconomic models such as Harrod-Domar and Solow theoryze that factor shares are constant; however, actual measures of the U.S. labor share have been on a downward trend since the early 1980s. The second conundrum relates to the Post-Kaleckian wage-led or profit-led view of economic growth. It indicates that a fall in the labor share in a wage-led economy will result in a fall in aggregate demand (due to deceases in consumption), and an increase in aggregate demand in a ...


Econ 252, Dean Scrimgeour Jan 2015

Econ 252, Dean Scrimgeour

Faculty Syllabi

This class provides a survey of questions and models in macroeconomics, including long-run features of the economy, short-run fluctuations, and international aspects of the macroeconomy, plus the current macroeconomic situation and outlook.


Cyclical Public Policy And Financial Factors, Vishrut Dhirendra Rana Jan 2015

Cyclical Public Policy And Financial Factors, Vishrut Dhirendra Rana

Dissertations and Theses Collection (Open Access)

The Great Recession of 2009 motivated a growing body of research on the quantitative modeling of financial factors and appropriate policy responses. This dissertation is a part of that line of research and looks at the quantitative macroeconomic effects of financial factors on business cycles. The dissertation uses quantitative macroeconomic general equilibrium models (popular dynamic stochastic general equilibrium (DSGE)) that allow flexibility in micro-founded modeling of macroeconomic environments. The dissertation captures financial factors through explicit modeling of financial intermediation, featuring costly state verification and collateral constraints as financial frictions. The first chapter offers a new quantitative model of credit cycles ...


Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp Jan 2015

Flooding In The Kashmir Valley: Macroeconomic Effects Of A Natural Disaster In India, Danielle Cupp

Gettysburg Economic Review

This paper presents India’s economic growth by comparing it to that of the United States. In addition, this paper analyzes current events in India under a macroeconomic lens as it provides the macroeconomic impacts of said events. More specifically, this paper focuses on the ways in which unexpected severe flooding have impacted Northern India in the short-, medium-, and long-run. Analyses conclude with policy recommendations based on the goals of India’s central bank, the Reserve Bank of India (RBI).


Studying The Effects Of Non Oil Exports On Targeted Economic Growth In Iranian 5th Development Plan: A Computable General Equilibrium Approach, Rasoul Bakhsi Dastjerdi Dr., Reza Moosavi Mohseni Dr., Somayye Jafari Dec 2014

Studying The Effects Of Non Oil Exports On Targeted Economic Growth In Iranian 5th Development Plan: A Computable General Equilibrium Approach, Rasoul Bakhsi Dastjerdi Dr., Reza Moosavi Mohseni Dr., Somayye Jafari

Reza Moosavi Mohseni

we investigate the effects of non oil export on Iran’s economic growth using a computable general equilibrium (CGE) and study which tradable sectors has a larger share in reaching to targeted growth rate 8% in 5th socio economic development plan. We calibrate the model by GAMS (with emphasis on foreign trade sector). Numerical solution to the model is based on Iran’s social accounting matrix (SAM). Results show that 2.03% of targeted economic growth rate is achieved by encouraging a 6% growth in export. It also be mentioned that industry and mine sector in Iran, has more influence ...


The Impact Of The Volatility Of Monetary Policy On A Small Economy: Some Evidence From New Zealand, Reza Moosavi Mohseni Dr., Jiling Cao, Wenjun Zhang Dec 2014

The Impact Of The Volatility Of Monetary Policy On A Small Economy: Some Evidence From New Zealand, Reza Moosavi Mohseni Dr., Jiling Cao, Wenjun Zhang

Reza Moosavi Mohseni

This paper investigates the impact of the international and domestic volatility of monetary policy shocks on a small economy using the GARCH-SVAR model. We enrich the SVAR model by using time-varying International and domestic volatilities as endogenous variables. The results show that although monetary policy shocks have transient effect on real economy (neutrality of money) the impact of the volatility of monetary policy shocks on real part of the economy is permanent and significant. Findings of variance decomposition also show that New Zealand heavily depends on international trade, so international monetary shocks can have a permanent impact on the local ...


The Financial Crisis Impact On Potential Output In Iran, Fatemeh Almasi, Reza Moosavi Mohseni Dr., Jalili Khodaparast Shirazi Dr. Nov 2014

The Financial Crisis Impact On Potential Output In Iran, Fatemeh Almasi, Reza Moosavi Mohseni Dr., Jalili Khodaparast Shirazi Dr.

Reza Moosavi Mohseni

In this study the quarterly data from 1996:1-2011:2 have been used to investigate the effect of financial crisis on potential output in Iran. For this purpose potential output, natural unemployment rate, spread between short-run and long-run interest rate and real money supply variables are used to estimate Auto Regressive Model and analyze Impulse-Response function and Variance Decomposition. The results show that financial crisis has a negative impact on potential output in Iran. Also, monetary shocks have negative impact on potential output in Iran. As regards, monetary policy has no effect on actual output in long-run, it seems that ...


A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala Nov 2014

A Closer Look At The Impact Of Quantitative Easing On The Capital Markets: Garch Analysis Of The Exchange Traded Funds Market, Nicholas R. Duafala

Undergraduate Economic Review

This paper analyzes the effects of quantitative easing (QE) on the capital markets by modeling exchange traded funds (ETFs) returns using a generalized autoregressive conditional heteroskedasticity (GARCH) methodology. The results show that the 10-Year Treasury yields are significant in the returns of some sectors of the economy more so than others, and the Federal Funds Futures trading volume is significant in all ETFs return volatility. The implications of these results not only provide information about the reaction of the ETF market and QE, but also provide insight for developing investment strategies.


Three Essays In Macroeconomic History, Joshua W. Mason Sep 2014

Three Essays In Macroeconomic History, Joshua W. Mason

Doctoral Dissertations

Following Minsky, an economy can be understood as a set of units linked to each other by flows of money payments and by the commitments to future payments reflected on balance sheets. This dissertation offers three accounts of the historical evolution of the US economy, conceived of a network of balance sheets, over the course of 20th and early 21st century. The first essay looks at changes in the pattern of payment flows between nonfinancial corporations and financial markets associated with the ``shareholder revolution" of the 1980s. It argues that the shift in payouts to shareholders from a quasi-fixed stream ...


The Financialization Of The Nonfinancial Corporation In The Post-1970 U.S. Economy, Leila Emami Davis May 2014

The Financialization Of The Nonfinancial Corporation In The Post-1970 U.S. Economy, Leila Emami Davis

Doctoral Dissertations

This dissertation analyzes the financialization of nonfinancial corporations (NFCs), emphasizing changes in firm-level financial behavior in the post-1970 U.S. economy. The dissertation consists of four essays. These essays ask what is the financialization of NFCs, explore why NFCs have ‘financialized’, and evaluate the implications for fixed investment behavior. Chapter 2 lays out a simple stylized framework describing firm-level portfolio choice and utilizes this framework to analyze the implications of increasing NFC involvement in the provision of financial services, increasingly entrenched shareholder value norms, and rising firm-level demand volatility for NFC financial structure. By articulating underlying determinants of firm-level portfolio ...


The Financial Underpinnings Of The Eu Crisis: Financial Deregulation, Privatization, And Asymmetric State Power, Nina Q. Eichacker May 2014

The Financial Underpinnings Of The Eu Crisis: Financial Deregulation, Privatization, And Asymmetric State Power, Nina Q. Eichacker

Doctoral Dissertations

This dissertation asks the following questions. How has financial liberalization affected the incidence of financial crisis in Europe? How have power asymmetries within Western Europe facilitated the process of financial liberalization, and distributed the costs and gains from this liberalization? How have these dynamics been demonstrated at the state level?

It charts the institutional liberalization and privatization of European finance from the 1960s onward and presents a survey of descriptive statistics that show how different financial stability, financial flow, and macroeconomic variables have changed in Western Europe since the early 1980s, generally increasing financial and economic instability. It also demonstrates ...


Olympic Caliber Countries: How Macroeconomic Factors And Previous Performance Impacted The 2012 London Olympic Games, Adam C. Watkins May 2014

Olympic Caliber Countries: How Macroeconomic Factors And Previous Performance Impacted The 2012 London Olympic Games, Adam C. Watkins

Chancellor’s Honors Program Projects

No abstract provided.


A Review Of Morten Jerven's 'Poor Numbers: How We Are Misled By African Development Statistics And What To Do About It', Rodrigo Garcia-Verdu Dec 2013

A Review Of Morten Jerven's 'Poor Numbers: How We Are Misled By African Development Statistics And What To Do About It', Rodrigo Garcia-Verdu

Rodrigo Garcia-Verdu

Book review of Morten Jerven’s Poor Numbers. How We Are Misled by African Development Statistics and What to Do about It, Cornell Studies in Political Economy, Ithaca, N.Y.: Cornell University Press, January 2013, ISBN: 9780801478604, 176 pp.


Essays On Skilled Workers And Economic Development, Dozie Okoye Aug 2013

Essays On Skilled Workers And Economic Development, Dozie Okoye

Electronic Thesis and Dissertation Repository

This thesis consists of three chapters on skilled workers and the roles they play in economic development. In the first chapter, I use an overlapping generations model of education choice and skilled migration to study conditions under which a low-skill economy can grow its skilled labor force in the presence of skilled emigration. This occurs when skill premiums are low, and there are individuals in the economy who can afford an education. The model is calibrated to data on 23 low and middle-income countries. For 22 of the 23 countries, any increase in the rate of skilled emigration leads to ...


Jobs Don’T Grow On Trees, Nicholas Johnson Apr 2013

Jobs Don’T Grow On Trees, Nicholas Johnson

Undergraduate Research Symposium 2013

Most contemporary macroeconomic models account for unemployment by making the simplifying assumptions that 1) there is an equilibrium level of unemployment and that 2) when the economy is not at that level it will tend towards equilibrium. Implicit in these models is also the assumption that the actual behavior of unemployment does not affect the equilibrium level. This paper joins a growing number of economists pointing out that such assumptions are false: the equilibrium does depend on past behavior, a trait called hysteresis. This paper considers the hysteresis hypothesis by using an iterated version of OLS to construct a series ...


Introducing Students To The Competing Schools Of Thought In Intermediate Macroeconomics, Harlan M. Smith Ii Mar 2013

Introducing Students To The Competing Schools Of Thought In Intermediate Macroeconomics, Harlan M. Smith Ii

Harlan M. Smith

The article discusses how the intermediate macroeconomics instructor can introduce students to ways of old and new Keynesians and classical theorists addressed the question on why output and employment fluctuate. Keynesian macroeconomics characterizes a school of thought developed around two central prepositions. New Keynesians develop alternative ways of explaining short-run movements in output and employment in the early 1970's. All individuals maximize utility, firm maximizes profits. Recently, new classicals developed an alternative approach in explaining short-run fluctuation in employment and output by redefining the concept of the short run.