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Job Matching And Unemployment Dynamics, John Robert Kennes
Job Matching And Unemployment Dynamics, John Robert Kennes
Digitized Theses
The first chapter of the thesis considers a job search model with entrepreneurial decisions by unemployed workers. A conventional job search model predicts a log-linear relationship between the vacancy: unemployment ratio and the job finding rates of unemployed workers. However, empirical evidence suggests that the relationship is concave. The model presented in this chapter exhibits concavity as a result of entrepreneurial specialization in the pool of unemployed workers.;The second chapter of the thesis develops a general equilibrium model of vacancies and unemployment with competition between on and off-the-job searchers. Under-employed workers at low productivity jobs make up the pool of …
Explaining Adoption Patterns Of Process Standards, Philip Paul Gunby
Explaining Adoption Patterns Of Process Standards, Philip Paul Gunby
Digitized Theses
This thesis investigates the adoption of process standards and consists of an introduction, a literature review, two theoretical chapters, a case study, and a conclusion.;The first theoretical chapter presents a model which examines equilibrium adoption patterns. The model incorporates heterogeneous agents who repeatedly choose which process standard to adopt. The agents' decisions are affected by economic processes within as well as outside, the market. In contrast to the usual results of the literature on competing standards, inefficient equilibria are far less prevalent in this model. Interestingly, small changes in parameter values can have a large impact on the characteristics of …
Impact On Asia Of China's Trade, Foreign Investment, And Factor Market Reforms: A General Equilibrium Approach, Winnie Lam
Digitized Theses
This thesis assesses the effects of China's trade, foreign investment, and factor market reforms on China and on its neighbouring Asian countries using a static, multi-country computational general equilibrium model. Existing literature concentrates on the analysis of the piecemeal abolition of distortions in the Chinese economy (Zhuang (1992)). One notable feature of this study is that special emphasis is placed on the interactive effects among individual reforms in China. This issue is particularly important for Chinese policy makers as they embark on the experimentation with major economic reforms. The results indicate that trade reform would not be nearly as successful …
An Imperfect Competition Suite, Brian Allen Rivard
An Imperfect Competition Suite, Brian Allen Rivard
Digitized Theses
This thesis consists of three essays on unrelated topics. The first essay examines the macroeconomic issue of sunspot equilibria, while the second and third essays examine issues in the field of industrial organization relating to exclusive contracts and advertising. Each essay is unified in that the role of imperfect competition is a central focus in the analysis of its respective topic.;Chapter 1 of the thesis constructs a simple overlapping generations model with money and production in an environment of monopolistically competitive firms and an increasing returns to scale production technology. Within this framework, symmetric stationary sunspot equilibria are generated without …
The Effects Of Government Policies On (Un)Employment In A Search Model, Mingwei Yuan
The Effects Of Government Policies On (Un)Employment In A Search Model, Mingwei Yuan
Digitized Theses
This thesis studies the effects of fiscal and labour market policies on the labour market activities. The study is based on a general equilibrium framework. The models considered in this thesis are built on the recent advances of growth models which incorporate labour market search/match activities. This study extends the previous models to address several important empirical issues.;In Chapter 1, an empirical study using multivariate vector autoregression (VAR) models shows that, in postwar U.S., employment and hours worked per worker respond differently to a temporary shock in government consumption. The shock raises hours worked per worker and reduces employment. The …
The Importance Of Beliefs In Monetary And Financial Settings, Toni R. Gravelle
The Importance Of Beliefs In Monetary And Financial Settings, Toni R. Gravelle
Digitized Theses
This thesis investigates the effects of beliefs in both a monetary and a financial setting. Specifically, the thesis studies the potential effects that price level fluctuations have on societal beliefs, the general medium of exchange, and economic welfare. In a finance setting, this thesis also studies how fluctuations in beliefs can explain the observed "hot issues" market phenomena in the initial public offering (IPO) equity market. The "hot issues" market phenomena refers to recurring periods in which the volume of IPOs and the magnitude of their first day returns are observed to be systematically larger than average.;Chapter 2 is a …
Nonparametric Estimation Of Ito Diffusions With Applications To The Pricing Of Derivative Securities, George J. Jiang
Nonparametric Estimation Of Ito Diffusions With Applications To The Pricing Of Derivative Securities, George J. Jiang
Digitized Theses
This thesis is concerned with the nonparametric estimation of continuous-time stochastic processes and its applications in financial economics. It consists of three closely related chapters, two on the nonparametric estimation and Monte Carlo simulation of diffusion processes, and one on the term structure of interest rates and nonparametric pricing of derivative securities.;Chapter 1 proposes a nonparametric identification and estimation procedure for an Ito diffusion process based on discrete sampling observations. The nonparametric kernel estimator for the diffusion function developed in this chapter deals with general Ito diffusion processes and avoids any functional form specification for either the drift function or …