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Full-Text Articles in Macroeconomics

Financial Market Risk And Macroeconomic Stability Variables: Dynamic Interactions And Feedback Effects, Agnieszka M. Chomicz-Grabowska Jan 2019

Financial Market Risk And Macroeconomic Stability Variables: Dynamic Interactions And Feedback Effects, Agnieszka M. Chomicz-Grabowska

Doctoral Dissertations (DBA)

This study investigates dynamic interactions and feedback effects between financial market risk proxied by VIX and key macroeconomic stability variables that include the rate of unemployment, headline inflation and market-based inflation expectations reflected by the breakeven inflation. I argue that market risk should play a stronger role in macroeconomic modeling and forecasting than it has been recognized thus far in the literature. I employ vector autoregression with impulse response functions, as well as two-state Markov switching tests to examine these interactions on the longest available US monthly data. The empirical tests show that the association between market risk and macroeconomic ...


Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir Feb 2018

Measuring Health Outcomes Of Uncovered Employment: A Study Of Income, Social Mobility, Equality, And Health Indicators In An Under-Looked Segment Of The Labor Force, Zakariya Kmir

Undergraduate Economic Review

Economists have strongly supported the idea that unemployment causes many undesirable health outcomes. However, how does belonging to a different sector of employment tied closely to changes in minimum wage and inflation relate to overall health? To properly understand the numerical significance of health disparities in the uncovered sector of employment, this research is targeted at quantifying the relationship between the insured and non-insured within the uncovered sector. By substantiating the existence of severe health disparities as a function of the labor force dynamic, this research subsequently estimates the amount of inefficiency and negative health outcomes in the US economy ...


The Hall Memorial Lectures, Lewis Karstensson Jan 2017

The Hall Memorial Lectures, Lewis Karstensson

Economics Faculty Publications

This publication is a record of the Hall Memorial Lectures in Economics delivered at the University of Nevada, Las Vegas, in the 1980s.

Contents include:

Wallace C. Peterson, "Contemporary Macroeconomics: A House Divided" (Dec. 1, 1983)

Wallace C. Peterson, "Economic Stabilization and Inflation" (May 8, 1984)

Murray N. Rothbard, "The Five Faces of Reaganomics" (Nov. 27, 1984)

Murray N. Rothbard, "The Terrible Simplifiers: The Case Against the Flat Tax" (May 7, 1985)

Larry D. Singell, "Youth Unemployment: An American Crisis" (May 14, 1986)

Murray N. Rothbard, "Is There Life After Reaganomics?" (Oct. 22, 1987)

Murray N. Rothbard, "Deficits and Taxes ...


"Big Government Get Off My Back Act": A Policy Analysis Of Missouri House Bill No. 45, Stephanie Stockton Jan 2017

"Big Government Get Off My Back Act": A Policy Analysis Of Missouri House Bill No. 45, Stephanie Stockton

Undergraduate Honors Theses

This analysis quantifies the effect of House Bill No. 45, or the Big Government Get Off My Back Act passed in the state of Missouri. This bill was signed into effect in August 2011 and expired in 2014. The bill offers a tax deduction to small business owners who create full-time jobs and offer a competitive wage. A higher tax deduction can be applied if the employer provides an insurance premium to their employees and financially contributes to it. This research aims to measure effects from House Bill No. 45 on unemployment, job-related insurance enrollment, income, employer contribution to health ...


The Impact Of Foreign Direct Investment On Labor Market Measures: Evidence From Sub-Saharan Africa, David A. Mayom May 2015

The Impact Of Foreign Direct Investment On Labor Market Measures: Evidence From Sub-Saharan Africa, David A. Mayom

Master's Theses

There is scant literature examining the relationship between foreign direct investment (FDI) and labor market measures in Sub-Saharan African (SSA) countries. This paper explores the effect of FDI on the labor market measures using panel data of 48 Sub-Saharan African Countries from 1991 to 2009. The result indicates that FDI has a positive and significant effect on employment implying that an increase in the inflow of FDI is associated with higher employment. Thus, Sub-Saharan African governments should strongly consider poverty alleviation and employment policies that encourage and direct FDI to the industries where it can significantly reduce unemployment.


Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi Jan 2015

Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi

Economics Faculty Publications

We study how macroeconomic conditions during the Great Recession affected health care utilization and out-of-pocket expenditures of American households. We use two data sources: the Consumer Expenditure (CE) Survey and the Survey of Income and Program Participation (SIPP); each has its own advantages. The CE contains quarterly frequency variables, and the SIPP provides panel data at the individual level. Consistent evidence across the two datasets shows that utilization of routine medical care was counter-cyclical, whereas hospital care was pro-cyclical during the Great Recession. When we examine the pre-recession period, the relationship between macroeconomic conditions and health care use was either ...


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 ...


Inflation And Unemployment: Is The Trade-Off Dead Or Alive In Pakistan?, Najid Ahmad, Kausar Yasmeen, Arsalan Ahmad Jan 2013

Inflation And Unemployment: Is The Trade-Off Dead Or Alive In Pakistan?, Najid Ahmad, Kausar Yasmeen, Arsalan Ahmad

Najid Ahmad

The aim of this paper is to identify the relationship betweeninflation and unemployment in Pakistan perspective of Phillips curve. A time series data is used for the period of 1984- 2012. Inflation rate is taken as dependent variable while unemployment rate, exchange rate, trade (percentage of GDP) is taken as independent variables. Ordinary Least Squares (OLS) is used after assuring the stationary of the variables with the help of Augmented Dickey Fuller (ADF) test. The paper has found significant results: there is an inverse relationship between inflation and unemployment rate in Pakistan. Concept of Phillips curve holdtrue in case of ...


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 ...


Does Unemployment Decrease Cancer Mortality?, Benjamin Torres Galick May 2009

Does Unemployment Decrease Cancer Mortality?, Benjamin Torres Galick

Economics Honors Projects

Recent research indicates that healthier lifestyles during recessions decrease the most common U.S. mortalities, but not cancer. However, they combine specific cancer mortalities with different progressions into one, possibly obscuring cancer’s link to unemployment. This paper estimates a fixed-effects regression model on unemployment and the nine most prevalent cancers between 1988 and 2002 using state-level panel data. Five cancers and total cancer are procyclical, and suggest that unemployment affects both incidence and gestation for some cancers. Consistent with the medical literature, this paper contradicts previous economic research and suggests that behavioral factors significantly impact cancer mortality.


Nonlinear Stochastic Convergence Analysis Of Regional Unemployment Rates In Poland, Joanna Tyrowicz, Piotr Wojcik Jan 2009

Nonlinear Stochastic Convergence Analysis Of Regional Unemployment Rates In Poland, Joanna Tyrowicz, Piotr Wojcik

Joanna Tyrowicz

This paper analyzes convergence of unemployment rates in Poland at NUTS4 level by testing nonlinear convergence, applying the modified KSS-CHLL for each pair of territorial units. The results suggest that actually the convergence is a rare phenomenon and occurs only in 1916 cases out of potential over 70 000 combinations. This paper inquires what systematic reasons contribute to this phenomenon.

There are some circumstances under which unemployment convergence should be more awaited than in the others. These include sharing a higher level territorial authority, experiencing similar labour market hardship or sharing the same structural characteristics. For each of these three ...


A Case Of The Philips Curve In The Formation Of A Monetary Union: A Glimpse At High Inflation Countries Of The European Monetary Union, Yuet Wen Wan Jan 2001

A Case Of The Philips Curve In The Formation Of A Monetary Union: A Glimpse At High Inflation Countries Of The European Monetary Union, Yuet Wen Wan

University Avenue Undergraduate Journal of Economics

This paper examines how disinflation in high inflation economies affects unemployment levels. According to Keynesian macroeconomic theories, a decrease in inflation will cause an increase in unemployment in the short run. Due to high inflation over the years among countries like Italy and Ireland, their expected inflation rate is significantly high. As a result, when the government starts a process of disinflation though restrictive fiscal and monetary policies, economic activity declines, and significant short run increase in unemployment follows.


The Phillips Curve In The 1990s, Hayden Smith Jan 2000

The Phillips Curve In The 1990s, Hayden Smith

University Avenue Undergraduate Journal of Economics

This paper will explore whether or not the Phillips curve relationship exists for the 1990s. I will attempt to estimate a Phillips curve for the past decade using data for the United States. In section two, I will explain the theory behind the Phillips curve and how the theory has evolved. In section three, I will present a literature review discussing previous research and results. Section four will present my empirical model and data. In section 5, I will present my results and discuss econometric problems such as serial correlation that may lead to biased estimates. In section six I ...