Credit, Sectoral Misallocation And Productivity Growth: A Disaggregated Analysis, 2019 Centro de Investigación Económica, ITAM
Credit, Sectoral Misallocation And Productivity Growth: A Disaggregated Analysis, Carlos Urrutia, Felipe Meza, Sangeeta Pratap
How Do Interest Rates Affect Market Capitalization Growth Rates In The Us?, 2019 Mount Allison University
How Do Interest Rates Affect Market Capitalization Growth Rates In The Us?, Philip Carolin
Undergraduate Economic Review
This paper investigates how interest rates affect the market capitalization growth rate of individual companies in the US. The research will distinguish itself from previous literature as it analyzes company and macroeconomic data after the 2008 recession. This is particularly interesting as interest rates have been historically low in this time period. Previous research suggests that since the Great Recession the effects of interest rate changes have decreased. On the contrary I will argue that the effects of interest rates still appear to be significant and substantial when explaining the market capitalization growth rate.
The ‘Security Pacific Letter’: Estimating The Causal Effect Of Securitization On Banks’ Systemic Exposure, Paul-Angelo Dell'isola
Dartmouth Undergraduate Journal of Politics, Economics and World Affairs
This paper aims to test the hypothesis of the ‘Safe Asset narrative’
which states that banks became manufacturers of pseudo safe assets to meet
a global shortage of safe assets in the pre-crisis period. In this narrative,
securitization is the mechanism which enables banks to become underwriters
of safe assets. This paper takes this hypothesis to the data and attempts to
estimate the causal effect of securitization on banks’ systemic exposure. In
particular, this paper exploits a regulatory change that occurred in 1987 when
the OCC expanded the scope of assets US national banks could securitize. By
using state-chartered banks ...
Essays On New Keynesian Term Premium Model With Financial Risks, 2019 The Graduate Center, City University of New York
Essays On New Keynesian Term Premium Model With Financial Risks, Weiguo Fu
All Dissertations, Theses, and Capstone Projects
This dissertation studies the modeling of U.S. Treasury (UST) yield curve term premia under the New Keynesian (NK) framework. Loosely speaking, term premium is the difference between a government bond’s yield for a specific tenor and the average of the expected short rates up to that tenor. The dissertation is divided into three chapters. The first chapter proposes a New Keynesianism-based macro-finance model estimated by a one-step full information maximum likelihood (FIML) method. The second chapter shows that the one-step FIML method may produce estimation biases, which result in biased expected short rates and term premia. The chapter ...
The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, 2019 The University of Tennessee, Knoxville
The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter
Pursuit - The Journal of Undergraduate Research at the University of Tennessee
The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted ...
International Welfare Spillovers Of National Pension Schemes, 2019 College of the Holy Cross
International Welfare Spillovers Of National Pension Schemes, James Staveley-O'Carroll, Olena Staveley-O'Carroll
Economics Department Working Papers
We employ a two-country overlapping-generations model to explore the international dimension of household portfolio choices induced by the asymmetric provision of government-run pensions. We study the resulting patterns of risk-sharing and the corresponding welfare effects on both home and foreign agents. Introducing the defined benefits pay-as-you-go system at home increases the welfare of all other agents at the expense of the home workers and improves the degree of intergenerational risk sharing abroad. Conversely, a defined contributions system leads to welfare losses of both home cohorts accompanied by gains abroad, but does increase the extent of intergenerational risk sharing at home.
In Search Of Equilibrium – How Regulatory Changes Impact The Gambling Industry In Poland, 2019 Gaming 5.0 / Kozminski University
In Search Of Equilibrium – How Regulatory Changes Impact The Gambling Industry In Poland, Sebastian Meitz, Stanisław Pogorzelski, Przemysław Bloch
International Conference on Gambling & Risk Taking
The so-called Polish “gambling affair” of 2009 resulted in the adoption of a new Act on Gambling. The regulation significantly changed the legal environment in Poland. It was also the starting point of what we identified as the search of equilibrium - a number of further legislative changes aimed at creating a sustainable environment for gambling. Some market segments became delegalized, some monopolized, and others liberalized. The Polish Ministry of Finance and the parliament tried to find the right balance between consumer protection, business growth, and government revenue. A goal that is still to be achieved.
This article examines the changes ...
The Argentine Great Depression, 2019 Claremont McKenna College
The Argentine Great Depression, Laira Aggarwal, Francois Ries, Alejandro Salvador
Undergraduate Economic Review
The purpose of this paper is to comprehend the business cycle of the Argentine Crisis (1998-2002). The following paper will outline the crisis, starting off with a comprehensive literature review on the topic, analyzing its causes and consequences, followed by a survey on the policy-responses undertaken by the Argentine government to combat the recession. The crisis will then be analyzed in the context of the IS-LM model of macroeconomics.
Financial Red Flags: Empirical Mapping Of Firm Political Preferences By Sector In Mexico, 2019 University of San Francisco
Financial Red Flags: Empirical Mapping Of Firm Political Preferences By Sector In Mexico, Ian Connors
Can the stock market be used to determine the political preferences of individual economic sectors? This paper explores the conceptual relationship between electoral outcomes and financial markets in Mexico. Specifically, it analyzes how financial markets predict the expected effects of a given political platform on the performance of firms within specific sectors. To do this, the study used event-study methodology to calculate abnormal returns on stock prices across the nine sectors listed on the Bolsa Mexicana de Valores stock exchange following the historic election of leftist candidate Andrés Manuel López Obrador (AMLO), On July 1, 2018. However, despite the uncertainty ...
Essays On Convex Weighting For Global Vector Autoregressive Models, 2019 Southern Methodist University
Essays On Convex Weighting For Global Vector Autoregressive Models, Garrison Leach
Economics Theses and Dissertations
This dissertation focuses on studying the impact that weighting schemes can have on forecasting performance and dynamic analysis in global vector autoregressive (GVAR) models. The first chapter discusses an existing gap in the literature regarding weighting scheme choice and develops a simple, yet powerful method for defining richer spatial linkages in a way that doesn’t sacrifice economic context. The new technique called convex weighting, extends the set of available options for defining spatial linkages in models that handle the curse of dimensionality via compression and offers a justifiable approach to alleviating uncertainty. The second and third chapters apply the ...
Labor Market Policies And Women’S Labor Market Activity In The United States And Germany, 2019 University of Rhode Island
Labor Market Policies And Women’S Labor Market Activity In The United States And Germany, Brianna Repke
Senior Honors Projects
In terms of per capita Gross Domestic Product (GDP) and many other measures, the United States and Germany are both economic leaders in the global world. However, gender gaps persist in the labor markets of both countries. This paper examines these gender gaps and various labor market policies that are intended to reduce them. The policies examined include gender equality policies and family-oriented policies in the two countries. Over the last few decades, most of the OECD (Organisation for Economic Co-operation and Development) countries have experienced low and decreasing birth rates. In response, several countries have introduced parental leave regulations ...
On Macroeconomic Nowcasting And Forecasting With Satellite Imagery And Convolutional Neural Networks, Adam Abate
Undergraduate Honors Theses
This research asks whether satellite imagery of metropolitan statistical areas (MSAs) can aid in the prediction of unemployment over different time horizons. I make these predictions using Convolutional Neural Networks (CNNs). The data consist of 1735 Landsat Analysis Ready Data (ARD) images from 1990 to 2011, each averaged quarterly with a subject that is one of 27 MSAs. I match each quarterly image with a known value of unemployment collected by the Bureau of Labor Statistics. Ten training configurations use different combinations of data augmentation and image preprocessing. I find CNN training accuracy around 10 to 20 times the accuracy ...
A Cge-Model Analysis Of U.S. Imposed Automotive Tariffs, 2019 University of Toronto Schools
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.
A Macroeconomic Approach For Modeling Road Traffic Fatality Rates, 2019 Stephen F Austin State University
A Macroeconomic Approach For Modeling Road Traffic Fatality Rates, Josephine Unger
Undergraduate Research Conference
After spending a month in Senegal, I noticed the lack of sound infrastructure and safe, reliable transportation systems. Using World Bank data I developed a macroeconomic predictive model for national road traffic mortality rates.
The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, 2019 University of Lynchburg
The Role Of Income Inequality As A Predictor Of Per Capita Gross Domestic Product, Daniel Friedberg
Student Scholar Showcase
The role of income inequality in relation to gross domestic product is of great importance in modern time. Income inequality is a pressing phenomenon in the fields of economics, politics, and sociology, while Gross Domestic Product is the benchmark statistic in measuring the health of any economy. But how well does income inequality serve as a predictor for the level of Purchasing Power Parity (PPP) GDP per capita within a nation? This cross-sectional study determines that the GINI Index has no significant statistical relationship with PPP GDP per capita level. While income inequality is a major economic variable that contributes ...
Opioid Overdose And Unemployment In The Uk, 2019 Western Kentucky University
Opioid Overdose And Unemployment In The Uk, Hayden Grace
Honors College Capstone Experience/Thesis Projects
Opioid overdose in the United Kingdom has risen drastically over the last few years along with the rise in the use of zero-hours contracts. Zero-hours contracts are contracts for employment that guarantee no work but can anchor a person to a job that doesn’t pay above minimum wage when they do not receive work. Since opioid use is often associated with poorer economic conditions in the United States, this paper attempts to measure any correlation between poverty and opioid use in the UK. Using zero-hours contracts as a proxy for underemployment we use several regression models to determine the ...
Comparison Of Global Solution Methods To A Zero Lower Bound Model, 2019 William & Mary
Comparison Of Global Solution Methods To A Zero Lower Bound Model, Emily Martell
Undergraduate Honors Theses
During the Great Recession, the U.S. Federal Reserve lowered policy rates to zero, introducing a kink in its policy rule and calling into question traditional solution methods. Recent papers have solved fully nonlinear models that treats the zero lower bound (ZLB) as an occasionally binding constraint, but there is little work analyzing the relative performance of these nonlinear solution methods. Two proposed solution methods are policy function iteration with linear interpolation and regime-indexed policy function iteration with Chebyshev polynomial approximation. We examine the impact of making the policy functions conditional on whether the ZLB binds. Our solution algorithm uses ...
The Power Of The Visible Hand, 2019 Gettysburg College
The Power Of The Visible Hand, Jacqueline S. Kotkiewicz
This paper is an analysis of state capitalism as a vehicle for change in the global economic system. Specifically, it looks at how state capitalism can be seen as an emerging threat to the Bretton Woods system, as well as how it is becoming an increasingly popular model of development. From national champions, to the Belt and Road initiative, to a rising presence in emerging market economies, the state capitalism model is increasing in influence. Due to this rise in power of countries that practice state capitalism, the global structure of power can potentially be challenged, thus also altering the ...
A Global View Of What Fixes Information Technology Skills Shortage: Panel Data Analyses Of Countries’ Human And Technology Resources, 2019 University of North Carolina at Charlotte
A Global View Of What Fixes Information Technology Skills Shortage: Panel Data Analyses Of Countries’ Human And Technology Resources, Benyawarath Nithithanatchinnapat, K. D. Joshi
Journal of Global Business Insights
This paper aims to provide evidence of what fixes the information technology skills shortage. The focus is on countries' workforce development factors, i.e., human and technology. The research model was tested using secondary data from multiple sources. An ordinary least square with panel corrected standard errors was used to analyze the data. The results indicate that organizations' staff training and gender parity among science, technology, engineering, and mathematics graduates relate negatively to IT talent shortage; this is consistent in both models the authors tested. This study contributes to the IT workforce literature by being the first study that empirically ...
Hedge Funds In The Periphery: An Analysis Of Structures Influencing Fund Behavior In The Icelandic And Cypriot Financial Crises, 2019 University of Pennsylvania
Hedge Funds In The Periphery: An Analysis Of Structures Influencing Fund Behavior In The Icelandic And Cypriot Financial Crises, Jameson K. Mah
Undergraduate Economic Review
Hedge funds are often viewed from a positive or negative lens in the public and academic forum. However, both of these perspectives neglect structuralist factors. This paper analyzes the effect of these antecedent economic, political, and legal structures. I argue that these structures are at the root of hedge fund behavior, particularly during financial crises. The financial crises of two peripheral countries, Iceland and Cyprus, are used as case studies to illustrate how hedge fund involvement diverges as a result of structural factors.