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Full-Text Articles in Social and Behavioral Sciences
The Economic Implications Of Eliminating Coal Subsidies In G7 Countries, Rachel M. Kim, Pradnaya S. Pathak
The Economic Implications Of Eliminating Coal Subsidies In G7 Countries, Rachel M. Kim, Pradnaya S. Pathak
Undergraduate Economic Review
This paper analyzes the economic implications of eliminating coal subsidies in G7 countries (Canada, France, Germany, Italy, Japan, United Kingdom, United States) in light of the Paris Agreement and the 2009 commitment to addressing climate change. The study uses a computable general equilibrium (CGE) model and contains three different simulations: production subsidy removal, consumption subsidy removal, and both consumption and production subsidy removal in G7 nations. Three variables were analyzed: economic welfare, market price, and output quantity. The results obtained using the Global Trade Analysis Project (GTAP) indicate that coal price increases and output quantity decreases, while economic welfare varies.
Exploring The Effects Of International Wage Differences On Brain Drain, Austin Martin
Exploring The Effects Of International Wage Differences On Brain Drain, Austin Martin
Undergraduate Economic Review
This paper examines how international wage differences affect brain drain by comparing the effects of skill-specific wage differences on low, medium, and high-skilled emigration. Previous literature explores qualitative factors behind migrant flow, but there is little focus on the role of wage differences in individuals’ decisions to emigrate. A relatively new data set on emigration rates by education level and a modified gravity model provide a unique analysis of bilateral migration flows. This paper finds that wage differences may have a significant and positive effect on and low-skilled emigration, but a less significant effect on high-skilled emigration or brain drain.
The Shifting Dynamics Of International Reserve Currencies, Robert J. Righi
The Shifting Dynamics Of International Reserve Currencies, Robert J. Righi
Undergraduate Economic Review
With the recognition by the IMF of the Chinese renminbi as an international reserve currency in 2015, it is important to understand the modern influence of reserve currencies. We use currency exchange rate data and apply modified workhorse regression models to assign each country’s gross domestic product at purchasing power parity to a reserve currency bloc in order to obtain a global sphere of influence for each reserve currency. We find that the United States retains its dominance but faces challenges from the renminbi and the euro in recent years as the international monetary system becomes tri-polar.
The Economic Impacts Of A U.S. Withdrawal From Nafta: A Cge Analysis, Jonathan Liu
The Economic Impacts Of A U.S. Withdrawal From Nafta: A Cge Analysis, Jonathan Liu
Undergraduate Economic Review
The aim of this study is to examine the economic impacts of a U.S. withdrawal from the North American Free Trade Agreement (NAFTA) on Canada, Mexico and the United States. The shocks simulate scenarios in which the U.S instates penalizing tariff rates on NAFTA countries, a trade war between NAFTA members and a tariff reset to the WTO MFN rates. The effects of these tariff structures are analyzed under the framework of a computable general equilibrium (CGE) model with a focus on macroeconomic variables and welfare. The findings show that, in all iterations, Mexico’s economy takes a substantial hit, America’s …
An Empirical Analysis Of Dutch Disease: Developing And Developed Countries, David Rudd '96
An Empirical Analysis Of Dutch Disease: Developing And Developed Countries, David Rudd '96
Honors Projects
Dutch Disease occurs when a country discovers a substantial natural resource deposit and begins a large-scale exportation of it. As a result, the country's currency appreciates, thereby reducing the competitiveness of the country's traditional export sector. Therefore, this tradable goods sector should contract, leading to structural changes and unemployment in the economy. Neary and Van Wijnbergen (1986) develop the theoretical underpinnings by identifying the two components of Dutch Disease: the spending effect and the resource-movement effect. Using these theoretical components, the paper attempts to account for the decline in the Netherlands' manufacturing sector and Nigeria's and Indonesia's agriculture sectors. The …