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

Macroeconomics Commons

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

1,685 Full-Text Articles 1,009 Authors 511,156 Downloads 103 Institutions

All Articles in Macroeconomics

Faceted Search

1,685 full-text articles. Page 39 of 41.

Tyranny And Economic Greed: The Disintegration Of The Sudanese Nation, Professor Issam A.W. Mohamed 2010 Department of Economics. Al Neelain University, Khartoum, Sudan

Tyranny And Economic Greed: The Disintegration Of The Sudanese Nation, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The present paper is part of unpublished book divided into three interrelated manuscripts that analyze the collapse of the Sudan. The current paper conclude that the decision of the International Criminal Court to arrest President Bashir triggered a process for the disintegration of an unprecedented tyrannical regime that embezzled the Sudanese nation under the pretext of imposing Islamic Sharia Laws. However, there is a pronounced prominent conflict manifested here which is the question whether it was a real Islamic laws, or was it only a powerful tool to control the country. The dogma imposed hegemonic regime that extracted all economic ...


The Effects Of Labour Market Performance On Financial System Stability, Tomasz Daras, Joanna Tyrowicz 2010 University of Warsaw

The Effects Of Labour Market Performance On Financial System Stability, Tomasz Daras, Joanna Tyrowicz

Joanna Tyrowicz

Crisis may spread through economy via the propagating mechanisms of the labour market - households becoming delinquent due to initial unemployment shock may be unable to continue servicing obligations versus the financial system. With large volume debts - e.g. mortgages - such defaults pose a threat to financial system stability. In this paper we use the Polish household budgets survey to simulate the impact of changes in the labour market status of household members on the ability of the household to service its mortgage payments. The simulation results are subsequently aggregated to facilitate macro-level interpretation of the findings. We simulate various scenarios ...


Shadow Employment In Post-Transition - A Matter Of Choice Or No Choice?, Stanislaw Cichocki, Joanna Tyrowicz 2010 University of Warsaw

Shadow Employment In Post-Transition - A Matter Of Choice Or No Choice?, Stanislaw Cichocki, Joanna Tyrowicz

Joanna Tyrowicz

According to a dualistic view, shadow employment may follow from two main labour market failures: (i) official market labour taxation distortions make it ineffective for some agents to engage in registered employment due to a tax wedge; or (ii) for some workers regular employment may be unattainable do to some high access costs or demand constraints, which results in seeking earning opportunities beyond the boundaries of the official labour market. Whereas in the first case revenues from unofficial employment should be higher than the corresponding official ones (tax evasion hypothesis), in the alternative explanation labour market tightness seems to be ...


Do We Really Need To Start From Scratch?, Michal Gradzewicz, Krzysztof Makarski, Joanna Tyrowicz 2010 National Bank of Poland

Do We Really Need To Start From Scratch?, Michal Gradzewicz, Krzysztof Makarski, Joanna Tyrowicz

Joanna Tyrowicz

This paper presents views and believes of the authors on the relevance of the current economic theory for the understanding of the complex world we live in. Has the crisis indeed demonstrated that as profession we are misled by the beauty of the mathematical models and the only useful, workable solutions at hand were provided in early 1930s? The purpose of this paper is to provide a review of the current state-of-the-art literature from the perspective of its usefulness in the context of economic crises. We argue that although we might be unable to answer many questions or to “predict ...


Intra-Provincial Inequalities And Economic Growth In China, Joanna Gravier-Rymaszewska, Joanna Tyrowicz, Jacek Kochanowicz 2010 University of Warsaw

Intra-Provincial Inequalities And Economic Growth In China, Joanna Gravier-Rymaszewska, Joanna Tyrowicz, Jacek Kochanowicz

Joanna Tyrowicz

This paper approaches the problem of inequalities in China. It is specifically focused on analyzing the effects of intra-provincial disparities on the development of the 28 mainland provinces in China. Intra-provincial inequalities, as measured by Theil index, seem positively related to growth, albeit the results are only convincing for the coastal provinces. A case by case analysis, however, suggests highly diversified patterns, including linear or an inverted u-shape for fastest growing coastal provinces and virtually no relationship for the majority of regions. The results corroborate some earlier raised questions about actual policy-making standards in China.


What Happened To The Middle Class In The New Market Economies? The Case Of Croatia And Poland, Joanna Tyrowicz, Iva Tomić 2010 University of Warsaw

What Happened To The Middle Class In The New Market Economies? The Case Of Croatia And Poland, Joanna Tyrowicz, Iva Tomić

Joanna Tyrowicz

Transition countries are believed to have undergone signifi cant social and economic structural changes. Indeed, the early transition resulted in the modifi cation of ownership structure and recognized processes of labor reallocation as well as in rapid educational booms in many Central and Eastern European countries. In this paper we shed some light on the changes regarding the size and composition of the middle class in two transition countries, Croatia and Poland, in the period 1995-2008. In general, the size of the middle class – as defi ned by individuals with wages around the median – decreased in Poland roughly between 2000 ...


Saving Less When There Is More? Foreign Debt And Domestic Savings In Developing Countries, Joanna Tyrowicz, Luke Okafor Emeka 2010 University of Warsaw

Saving Less When There Is More? Foreign Debt And Domestic Savings In Developing Countries, Joanna Tyrowicz, Luke Okafor Emeka

Joanna Tyrowicz

Although literature has given considerable attention to the effects of foreign debt on the growth, we still know little about its effects on the internal potential for capital formation. Literature suggests a number of channels through which availability of foreign financing could affect domestic savings. We test empirically this relationship using data for Sub-Saharan Africa and Latin America and the Caribbean over 1975-2004. Controlling for endogeneity, we find that foreign debt adversely influences domestic savings especially in the long run. The results are not susceptible to the choice of countries, although few outliers should be noted.


Riding On The Wave? Middle Class In Transition, Joanna Tyrowicz, Joanna Nestorowicz 2010 University of Warsaw

Riding On The Wave? Middle Class In Transition, Joanna Tyrowicz, Joanna Nestorowicz

Joanna Tyrowicz

In this paper we inquire into how structural social changes associated with economic transition affected the relative position of the so called ‘traditional’ and ‘new’ middle classes. We use Polish quarterly labor force surveys over the period 1995-2007 and analyze the distribution of self-reported wages and educational attainment across social groups. In the analysis we account for differences observed in the metropolies (usually benefiting immensely from the economic changes) and non-metropolitan areas (where most of the negative consequences are felt).

We find that although transition has contributed to greater inequalities both in terms of earned income and education, traditional middle ...


International Diversification: A Copula Approach, Lorán Chollete, Victor De la Pena, Ching-Chih Lu 2010 Columbia University

International Diversification: A Copula Approach, Lorán Chollete, Victor De La Pena, Ching-Chih Lu

Lorán Chollete

No abstract provided.


Treasury Factor Fundamentals, Yogendra Sisodia 2010 Indian Institute of Capital Market

Treasury Factor Fundamentals, Yogendra Sisodia

Yogendra Sisodia

Treasury Operations and Fundamental Factors


Asset Pricing Under Information-Processing Constraints, Yulei Luo, Eric R. Young 2010 The University of Hong Kong

Asset Pricing Under Information-Processing Constraints, Yulei Luo, Eric R. Young

Yulei Luo

This paper studies the implications of limited information-processing capacity (also called "rational inattention") for asset pricing in a linear-quadratic permanent income model. We have two main results. First, RI increases the size of the risk adjustment to asset prices by increasing the volatility and persistence of consumption growth. Second, RI increases the expected excess return. Thus, RI has the potential to play an important role in resolving extant asset pricing puzzles.


Rational Inattention, Long-Run Consumption Risk, And Portfolio Choice, Yulei Luo 2010 The University of Hong Kong

Rational Inattention, Long-Run Consumption Risk, And Portfolio Choice, Yulei Luo

Yulei Luo

This paper explores how the introduction of rational inattention (RI) -- that agents process information subject to fi…nite channel capacity -- affects optimal consumption and investment decisions in an otherwise standard intertemporal model of portfolio choice. We …first explicitly derive optimal consumption and portfolio rules under RI and then show that introducing RI reduces the optimal share of savings invested in the risky asset because inattentive investors face greater long-run consumption risk. We also show that the investment horizon matters for portfolio allocation in the presence of RI, even if investment opportunities are constant and the utility function of investors is ...


Risk-Sensitive Consumption And Savings Under Rational Inattention, Yulei Luo, Eric R. Young 2010 University of Hong Kong

Risk-Sensitive Consumption And Savings Under Rational Inattention, Yulei Luo, Eric R. Young

Yulei Luo

This paper studies the consumption-savings behavior of households who have risk-sensitive preferences and suffer from limited information-processing capacity (rational inattention or RI). We first solve the model explicitly and show that RI increases precautionary savings by interacting with income uncertainty and risk-sensitivity. Given the closed-form solutions, we find that the RI model displays a wide range of observational equivalence properties, implying that consumption and savings data cannot distinguish between risk-sensitivity, robustness, or the discount factor, in any combination. We then show that the welfare costs from RI are larger for risk-sensitive households than any other observationally-equivalent settings.


The Real Yield Curve And Macroeconomic Factors In The Chilean Economy, Marco Morales 2010 Universidad Diego Portales

The Real Yield Curve And Macroeconomic Factors In The Chilean Economy, Marco Morales

Marco Morales

No abstract provided.


Paul A. Samuelson (1915 - 2009): Memories Of Friedrich Von Hayek (1899 - 1992) Spanish Translation: Fernando Estrada And Andrea Trujillo, Fernando Estrada 2010 Universidad Externado de Colombia

Paul A. Samuelson (1915 - 2009): Memories Of Friedrich Von Hayek (1899 - 1992) Spanish Translation: Fernando Estrada And Andrea Trujillo, Fernando Estrada

Fernando Estrada

In this report Professor Samuelson staff prepares a tour of the work and thought of highlighting the contributions of Hayek Austrian economist and showing the world within which they took power broadly two contradictory paradigms of economic thought. This testimony intellectual frontline is extraordinary, given the recent death of Professor Samuelson


Recent Changes In The Armed Conflict In Colombia, Fernando Estrada 2010 Universidad Externado de Colombia

Recent Changes In The Armed Conflict In Colombia, Fernando Estrada

Fernando Estrada

Analyst in the strategy and operations of guerrillas and paramilitaries, have suggested that the Colombian conflict analysis should show the differences between clusters paramilitary. Not only because after the 80s, drug trafficking has played a decisive role, but because the geography of territories and control combinations have not been studied sufficiently. Geography of armed conflict should also provide tools to understand the impact of war on natural resources, for example. We sustain that while the drug economy has filtered the structure of semi-groups, promoting market competition and private security protection, drug trafficking does not explain absolutely all sources of violence ...


Pain And Human Dependence (Dolor Y Dependencia Humana), Fernando Estrada 2010 SelectedWorks

Pain And Human Dependence (Dolor Y Dependencia Humana), Fernando Estrada

Fernando Estrada

This paper is a study of medical philosophy. The subject is studied from the author's own experience. On the basic sources of inspiration the works of Fernando Pessoa, Karl Kraus and Friedrich Nietzsche, raise the limits and scope of medical knowledge and experience of pain and disease.


Pierre Bordieu From Latin American, Fernando Estrada 2010 SelectedWorks

Pierre Bordieu From Latin American, Fernando Estrada

Fernando Estrada

This brief paper is a tribute of the French thinker Pierre Bordieu. Plot some political economy issues and relate aspects of the remarkable influence thinker.


Financial Theory Has A Paradigm A La Kuhn?, Fernando Estrada 2010 SelectedWorks

Financial Theory Has A Paradigm A La Kuhn?, Fernando Estrada

Fernando Estrada

This article aims to discuss two issues relatively linked. The first is an evaluation of the concept of paradigm of T. Kuhn in his representative work: The Structure of Scientific Revolutions ERC, [Ku96] and the complementary version by W. Stegmüller, Structure and dynamics of theories EDT, [Steg83]. This refined interpretation of the concept of paradigm allows for a more complete set of central Kuhnian concept. The second objective is to analyze the scope of the Kuhnian concept of models to evaluate financial explanation. Is explored preliminarily proposed fractal models / multifractal (F / M) of Mandelbrot [Mand97, 82, 02, 05]. This second ...


Paramilitary Language In The Colombian Armed Conflict, Fernando Estrada 2010 SelectedWorks

Paramilitary Language In The Colombian Armed Conflict, Fernando Estrada

Fernando Estrada

The war in Colombia presents, among other characteristics, a high content of oratorical and rhetoric; the different armed actors are disputed, besides territories, the power of the public opinion, with what each violent action is usually accompanied by a discursive or symbolic justification. The present rehearsal offers an analysis of the paramilitary speech, starting from the declarations and interviews to Carlos Castaño, main boss of the selfdefenses. The paramilitary rhetoric is studied here from the theory of the speech acts of Austin-Searle, the theory of the argument of Chaïm Perelman, and the recent works has more than enough Metaphors of ...


Digital Commons powered by bepress