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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
America's First Great Moderation, Ryan Shaffer
America's First Great Moderation, Ryan Shaffer
CMC Senior Theses
This paper identifies America's first Great Moderation, a period from 1841-1856 of unbroken economic expansion and low volatility comparable to the Great Moderation of the 1980s-2000s. This moderation occurred despite a lack of central banks, low governmental spending, and barriers to interstate commerce during the antebellum period. I demonstrate this moderation in industrial production and stock market indexes and compare the first Great Moderation with the second in these economic factors. These results also call into question the conventional wisdom of the National Bureau of Economic Research business cycle chronology that the antebellum period was volatile and fraught with recessions. …
The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal
The Great Indian Growth Puzzle: What Caused A Spike In 2003?, Aditya Bindal
CMC Senior Theses
This paper will employ unit root tests for finding structural breaks endogenously among India’s key macroeconomic aggregate series, as well as their components and subcomponents. The same analysis will be repeated, wherever data are available, for states. The results from these unit root tests will then be used in regression models for national and state level data to understand the causes behind structural breaks. We find that breakpoints cluster around 1982 and 2003 for most series at the national and state level. The services component appears to be a promising candidate for explaining the 2003 structural break in some of …
Has The Franco-German Power Balance In The European Union Tipped In Favor Of Germany?, Stephanie C. Haffner
Has The Franco-German Power Balance In The European Union Tipped In Favor Of Germany?, Stephanie C. Haffner
CMC Senior Theses
The power balance between France and Germany in the European Union has been one of great discussion and debate. Countless journalists and scholars have argued that Germany’s power has risen gradually against the seemingly perpetually stronger France over the past sixty years, and is now finally set to surpass France; but how true are these claims? How can power within the EU truly be measured? Through an analysis of Franco-German collaboration through unionization, a critique of the contemporary discourse on the relationship, and an examination of changing contributions to the EU budget, my paper argues that the Franco-German power balance …