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How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz 2019 Yale University

How The Federal Reserve Aided The Peoples Bank Of China In Addressing Its 2015 Stock Market Crash, Alec Buchholtz

Journal of Financial Crises

An insight into the July 2015 exchange between the Federal Reserve Board and the People's Bank of China (PBOC) discussing efforts to apply lessons from the 1987 "Black Monday" stock market crash to a similar crash that was occurring in China.


The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner 2019 Warburg Pincus and Yale University

The Early Phases Of The Financial Crisis: Reflections On The Lender Of Last Resort, Timothy F. Geithner

Journal of Financial Crises

This essay discusses the powers and limitations of the Federal Reserve’s role as Lender of Last Resort and how it deployed those powers during the financial crisis of 2007-2009. It considers the Fed’s authorities and the frameworks that it relied on in utilizing its powers to calm markets in turmoil and to assist specific financial institutions.


Celtic Tiger Ireland As A Case Study In The Practical Application Of Neoliberal Economic Policy, Natalie Sneed 2019 University of Nebraska - Lincoln

Celtic Tiger Ireland As A Case Study In The Practical Application Of Neoliberal Economic Policy, Natalie Sneed

Honors Theses, University of Nebraska-Lincoln

The Celtic Tiger economic boom, which occurred in Ireland from approximately 1987 to 2009 has generally been considered one of the most remarkable economic turnarounds in any country in the modern era. My purpose in this project was to identify the primary causes and effects of such rapid and dramatic economic growth and development to determine whether it is sensible for other countries emerging from colonial rule to seek to emulate the Irish economic model. Through a review of the economic literature on the Irish economy in the last three decades, I identify Ireland’s implementation of a neoliberal economic ...


Trends And Tariffs: Nebraska In An Aging Recovery, Eric Thompson 2019 University of Nebraska-Lincoln

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 Impact Of Legalization Of Marijuana On Opioid Overdose Deaths, Radhika N. Bharadwaj 2019 CUNY Hunter College

The Impact Of Legalization Of Marijuana On Opioid Overdose Deaths, Radhika N. Bharadwaj

School of Arts & Sciences Theses

This masters’ thesis aims to examine the impact of the legalization of marijuana for recreational use on the death toll from opioid misuse in the state of Colorado. This investigation was done using the Synthetic Controls Method via data collected primarily from the CDC and IPUMS databases. The results indicate that the 2012 legalization policy in Colorado appears to reduce the number of deaths due to opioid overdoses.


Improvements To Consumption Prediction: Machine Learning Methods And Novel Features, Ian Kinskey, Glenn Oswald, Charles McCann, Travis Finch, Anthony Tanaydin 2019 Souther Methodist University

Improvements To Consumption Prediction: Machine Learning Methods And Novel Features, Ian Kinskey, Glenn Oswald, Charles Mccann, Travis Finch, Anthony Tanaydin

SMU Data Science Review

Current models for predicting personal consumption expenditures (PCE) employ statistical techniques and rely upon traditional economic features. We compare vector autoregression and random forest regression models using traditional economic features as inputs to predict PCE. Additionally, we develop novel features derived from the earnings call transcripts of publicly traded U.S. companies using natural language processing (NLP) techniques. These new features reduce the mean square error (MSE) of the vector autoregression model by 7% and the random forest model by 23%. We find the random forest models outperformed the vector autoregression models, with a MSE reduction of 68%. We conclude ...


Globalization And Social Spending: Lessons For India, Ansh Jain 2019 Rollins College

Globalization And Social Spending: Lessons For India, Ansh Jain

Honors Program Theses

As developing countries increasingly integrate themselves into the global economy, increased social spending is desirable to protect their vulnerable groups from rapid changes experienced by the economy associated with increased openness. However, while developed nations are largely successful in maintaining and increasing their social spending as a response to globalization, the case with developing countries is usually the opposite. We find that key determinants of this divergence between developing and developed countries stems from factors such as the extent of surplus and informal labor, quality of democracy and democratic institutions, and the power of unions. As India further integrates into ...


Policy, Aggregate Productivity And Misallocation, Guowen Chen 2019 University of Kentucky

Policy, Aggregate Productivity And Misallocation, Guowen Chen

Theses and Dissertations--Economics

This dissertation explores the effects of factors such as industrial policy and listing on the stock market on manufacturing firms’ profitability and productivity.

The second chapter investigates the effect of industrial policies on misallocation using a rich data-set of Chinese firms. Using a difference-in-difference approach, I provide evidence that government policies (i.e. the 10th Five Year Plan) favoring particular industries lead to increased misallocation (i.e., an increase in the dispersion of revenue productivity across firms in four-digit industries). Moreover, the differential changes between industries supported and not supported by the 10th Five Year Plan are quantitatively ...


Essays On Institutions And Development, Andrew Jonelis 2019 University of Kentucky

Essays On Institutions And Development, Andrew Jonelis

Theses and Dissertations--Economics

The essays in this dissertation examine how political institutions affect economic development. In the first essay, I examine how executive control of the legislature shapes the time horizon of governing politicians and its effect on economic growth. The second essay examines how border changes over the past two centuries have provided different areas within modern countries with different institutional histories and how this affects the geographic concentration of economic activity. For the final essay, I examine whether elections have an effect on macroeconomic volatility when controlling for the democratic nature of the regime.


The Effects Of Destruction: A Macroeconomic Story, Kara Riesing 2019 University of Kentucky

The Effects Of Destruction: A Macroeconomic Story, Kara Riesing

Theses and Dissertations--Economics

Destructive events such as natural disasters and terrorist attacks occur not only in developing economies but also developed economies. Consequently, the response of these economies has been observed in case of both type of events. This dissertation is a collection of essays regarding natural disasters, terrorist attacks and the macroeconomy. Specifically, I examine the response of local labor markets that reflect a wide spectrum of economies, but also have a safety-net in the form of being part of a developed country in the aftermath of a violent tornado. Further, I explore the heterogeneity in the economies response to natural disasters ...


The Distributional And Countercyclical Effects Of Public Capital Investment In Transportation Infrastructure, Matthijs B. Schendstok 2019 University of Kentucky

The Distributional And Countercyclical Effects Of Public Capital Investment In Transportation Infrastructure, Matthijs B. Schendstok

Theses and Dissertations--Economics

While the long run productivity of federal highway infrastructure spending has been well researched, their short run effects and effects on income inequality. This dissertation explores those under-researched unconventional effects.

In the first chapter, I investigate the effects of federal infrastructure grants on income inequality. I find that grants reduce inequality in both recipient and neighboring states. The reduction is driven by greater income among the bottom three income quintiles. I explore two mechanisms using person level data and find that the reduction in inequality is attributable to higher income for low-skilled workers and workers working in low-skilled industries.

In ...


Regulations, Governance, And Resolution Of Non-Performing Loan: Evidence From An Emerging Economy, Abu S. Amin, Mahmood Osman Iman, Mahfuja Malik 2019 Sacred Heart University

Regulations, Governance, And Resolution Of Non-Performing Loan: Evidence From An Emerging Economy, Abu S. Amin, Mahmood Osman Iman, Mahfuja Malik

WCBT Faculty Publications

How do banks resolve a severe bad loan problem in a capital-constrained, low-income economy when a government bailout is not an option? We address this question by examining new evidence from a sharp decline in bad loan ratios in a panel of conventional commercial banks in Bangladesh. On the aggregate level, the bad loan ratio in this market has dropped from 41% in 1999 to only 10% in 2012. We find that at a micro level, this dramatic improvement is associated with bank management quality and internal governance that were substantially enhanced during a decade of large-scale regulatory reforms. The ...


The Effect Of Us Monetary Policy Shocks On Cryptocurrency Returns, Jisung Kim 2019 University of Colorado, Boulder

The Effect Of Us Monetary Policy Shocks On Cryptocurrency Returns, Jisung Kim

Undergraduate Honors Theses

I explore the effect of US monetary policy shocks on the returns of digital assets since the creation of Bitcoin. A pool of 100 cryptocurrencies are separated into three categories. The monetary policy shocks are measured with two different futures contracts, Fed fund futures and 10-Year bond futures, around a FOMC meeting announcement. With the use of a panel fixed effect model, I find that changes to both futures prices around FOMC meeting have differing effects on the returns of digital assets. In particular, my results suggest that digital assets with deeper integration of blockchain, like digital assets under the ...


Finding Meaning For Food Deserts: Food Retail Establishments In Colorado Counties, Brianna Huynh 2019 University of Colorado, Boulder

Finding Meaning For Food Deserts: Food Retail Establishments In Colorado Counties, Brianna Huynh

Undergraduate Honors Theses

This thesis explores food retail establishments in Colorado in an attempt to discover if food deserts are a meaningful concept in the current literature. By examining Colorado county demographics and count of food retail establishments, we determine the main drivers of food retail establishment change. This thesis finds that race has an effect on food retail establishments consistent with what the literature contends, but income has an opposite effect.


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

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 ...


What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal 2019 Claremont McKenna College

What Do We Know About The Recent Performance Of Indian Banks?, Laira Aggarwal

CMC Senior Theses

This paper examines the performance of Indian banks by studying the effects of recent reforms and macroeconomic events. Indian banks went through a period of reforms in the past twenty years. The impact of these reforms and major macroeconomic events has been examined using time-series analysis. Event studies offer additional perspective on the short-run effect of the events on different types of Indian banks. Although, the event dates are not all statistically significant in the time-series regressions, the demonetization of 2016 is significant in the event study analysis. Thus, while reforms and events have immediate impact on the performance of ...


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

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 ...


Accounting For Agent Heterogeneity In Market And Policy Analysis, Konstantinos Giannakas 2019 University of Nebraska-Lincoln

Accounting For Agent Heterogeneity In Market And Policy Analysis, Konstantinos Giannakas

Zea E-Books

doi:10.13014/K2416V8V

This book presents a multi-market framework of market and policy analysis that explicitly accounts for the empirically relevant heterogeneity in consumer preferences and producer characteristics. The explicit consideration of consumer and producer heterogeneity represents a significant departure from the representative consumer and producer that have been at the center of most of the literature on market and policy analysis, and enables the distributional impacts of changes in market conditions and policies to be fully identified. The framework is used to analyze the system-wide market and welfare impacts of a number of changes in market conditions (like ...


Occam's Razor Vol. 9 - Full (2019), 2019 Western Washington University

Occam's Razor Vol. 9 - Full (2019)

Occam's Razor

No abstract provided.


Modeling And Forecasting Glacier National Park Visitation, Michael James Kernan 2019 University of Montana

Modeling And Forecasting Glacier National Park Visitation, Michael James Kernan

Graduate Student Theses, Dissertations, & Professional Papers

National parks have recently seen increased visitation demand. Glacier National Park is located in an area where changes in weather and climate will occur at an accelerated rate. Changes in fire and precipitation regimes are taking place at a time when Glacier National Park is setting new visitation records. This paper uses regression and forecast models to investigate the changing landscape of park visitation.

Findings suggest important impacts to monthly visitation and cycling on Going-to-the-Sun Road in Glacier National Park are associated with forest fire activity and precipitation. The conclusions of this paper support perceptions about the effect natural occurrences ...


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