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Dimensionality Reduction Techniques In Macroeconomic Analysis, Abigail Rogot May 2023

Dimensionality Reduction Techniques In Macroeconomic Analysis, Abigail Rogot

Student Theses and Dissertations

Over the past several decades, rapid innovation in data collection methods and technology has led to the development of dimensionality reduction techniques when dealing with a large number of predictors and time series observations. Especially relevant to the field of economics, many macroeconomic indicators rely on processing vast sets of data, often dealing with variables of different frequencies. Broadly, monetary policy is influenced by real-time evaluations of current and future economic conditions, meaning that lags in re- leases produce incomplete datasets. This paper closely examines the development and applications of two popular dimensionality reduction techniques: Principal Component Analysis (PCA) and …


Transit Equity In Southeast Brooklyn, Noam J. Gal May 2022

Transit Equity In Southeast Brooklyn, Noam J. Gal

Student Theses and Dissertations

Over the years, planners have considered numerous proposals to expand the subway system further into Southeast Brooklyn including the Utica Avenue Line and the Interborough Express. It remains to be seen whether any of these megaprojects will come to fruition. This honors thesis analyzes the equity impact that Brooklyn’s largest transit desert has had upon its inhabitants. I use an interdisciplinary approach to analyze both qualitative and quantitative data to explain why the subway does not extend into the focus area, how residents have adapted to the status quo, and what policymakers can do to improve transit equity in Southeast …


Neo-Extracting Gilded Welfare States: A Comparative Study Of Extractivism And Latin American Welfare State Formation, Pabvitraa Ramcharan May 2021

Neo-Extracting Gilded Welfare States: A Comparative Study Of Extractivism And Latin American Welfare State Formation, Pabvitraa Ramcharan

Student Theses and Dissertations

This paper attempts to establish a stronger linkage between neo-extractivism and social welfare states in contemporary Latin America using both a micro and macro perspective. By emphasizing the human capital aspect of the welfare state’s role in promoting equitable redistribution and correcting market failures, this paper attempts to evaluate the extent to which extractive industries contribute to human capital formation. Due to the sectors’ large influence on the state and weak capacity to create employment, I develop the concept of the “gilded welfare state,” defined by the inability of extractive industries to ensure equal opportunity and generate formal employment despite …


Travel To Cuba: A Case Study Of Media Branding In A Politicized Context, Yaneisis Infante Dec 2019

Travel To Cuba: A Case Study Of Media Branding In A Politicized Context, Yaneisis Infante

Student Theses and Dissertations

The purpose of this research is to detail a case study of U.S. tourism to Cuba in a politicized context; specifically, to compare and contrast the Obama and Trump administrations. This study seeks to examine how the Cuban “brand” and the island’s overall tourism strategy is formulated, circulated, shaped and reshaped by various actors and the public in the changing context of the newly antagonistic bilateral U.S.-Cuba political relationship. The research questions explore issues of how diplomatic relations impact Cuban tourism and advertising messaging. This paper also discusses the changes in the U.S. news media coverage of Cuba as a …


Poverty In New York City: Consumption Expenditure As A Poverty Predictor, Michael Lomtevas May 2018

Poverty In New York City: Consumption Expenditure As A Poverty Predictor, Michael Lomtevas

Student Theses and Dissertations

This thesis seeks to replicate the findings of a 2012 study published by Meyer and Sullivan in the Journal of Economic Perspectives using data provided by the Columbia University Longitudinal Wellness Survey. That study found that a poverty measure based on consumption predicted material hardship better than both the Official (OPM) and Supplemental Poverty Measures (SPM). This was found to be the case because a well-constructed consumption poverty measure (CPM) captures in-kind benefits that the OPM neglects. Such a measure also avoids issues inherent in the SPM that arise from respondents underreporting their income and includes the ability to consume …


Volatility Analysis Of Us Equity And Federal Funds Markets Through The Recent Financial Crisis And Recovery Periods, Based On Release Of Fomc Meeting Statements And Minutes, Hanxiao Yue Apr 2017

Volatility Analysis Of Us Equity And Federal Funds Markets Through The Recent Financial Crisis And Recovery Periods, Based On Release Of Fomc Meeting Statements And Minutes, Hanxiao Yue

Student Theses and Dissertations

The Federal Open Market Committee (FOMC) is the principal maker of monetary policy in the United States. The main instrument of monetary policy is the target federal funds rate, which is de facto the base interest rate of the US economy. The FOMC meets around eight times a year to discuss the economic outlook and decide on this metric. Throughout most of its history, the Fed has been opaque about how it decides on monetary policy, but in recent years it has adopted a more transparent disclosure policy. For each FOMC meeting, it currently releases a brief statement immediately after …


Technical Analysis Under Knightian Uncertainty, Andre Mouton Dec 2015

Technical Analysis Under Knightian Uncertainty, Andre Mouton

Student Theses and Dissertations

Technical analysis, or the forecasting of asset price movements using past prices, is commonly practiced in financial markets but poorly explained by mainstream economic theory. I show that a technical rule can have predictive power when an asset’s payoffs are subject to Knightian uncertainty, defined as variation that cannot be described probabilistically (Knight, 1921). I present an asset-pricing model in which asset payoffs undergo periodic shifts in trend, and agents form expectations about these payoffs using a constant gain least squares (CGLS) rule. I investigate whether a second CGLS rule, operating on price, can provide a more accurate forecast of …