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Articles 1 - 14 of 14
Full-Text Articles in Economics
The Choice Of Technology In Economic Development, Lei Wen, Haiwen Zhou
The Choice Of Technology In Economic Development, Lei Wen, Haiwen Zhou
Economics Faculty Publications
The impact of capital accumulation on job creation is an important and interesting issue in economic development. This model provides a general-equilibrium framework for studying technology choice with unemployment in a developing economy based on micro-foundations. Unemployment in the urban sector results from the existence of efficiency wages. Manufacturing firms engage in oligopolistic competition and choose technologies to maximise profits. A more advanced technology uses more capital and less labour. In the steady state, an increase in the amount of capital induces firms to choose more advanced technologies and the wage rate increases. While a higher capital stock always induces …
Part 1: Growth Returns, Now Make It Last, Dragas Center For Economic Analysis And Policy, Old Dominion University
Part 1: Growth Returns, Now Make It Last, Dragas Center For Economic Analysis And Policy, Old Dominion University
State of the Region Reports: Hampton Roads
There is some good news to report. Hampton Roads gained population but population growth continues to slow. A record number of residents were at work or looking for work in 2023. A record number of residents of the region reported they were employed in 2023. The number of jobs continued to recovery from the depths of the 2020 economic shock, however, a full recovery may not occur until 2024. Economic growth sharply rebounded from the declines of 2020, and we expect growth to continue in 2023. The region’s economic performance, however, continues to lag many of its peers.
Search, Technology Choice, And Unemployment, Constantine Angyridis, Haiwen Zhou
Search, Technology Choice, And Unemployment, Constantine Angyridis, Haiwen Zhou
Economics Faculty Publications
Technology variations among countries account for a significant part of their income differences. In this paper, a firm's technology choice is embedded in a search theoretic framework for unemployment. More advanced technology is assumed to have a higher setup cost, but it is more productive. The model is tractable and the following results are derived analytically. An increase in the unemployment benefit leads to an increase in the equilibrium wage rate, giving an incentive to firms to choose a more advanced technology. Thus, this result regarding unemployment insurance in models with wage posting carries through with Nash bargaining as well. …
The Poverty In Usa: An In-Depth Analysis Of The Last Two Decades, Sara Negri
The Poverty In Usa: An In-Depth Analysis Of The Last Two Decades, Sara Negri
Economics Theses & Dissertations
Poverty is a global problem that affects not only the undeveloped states but also the most developed ones. This research paper will analyze this problem in depth, trying to summarize several definitions, several causes that can lead to an increase in the poverty rate, and policies implemented by the government in order to reduce the total number of poor people. The author analyzed the poverty rate in each state of the United States from 1990 to 2019 using a panel data analysis. She found out that California is the state with the highest value of poor people in the U.S. …
Part 1: Inflection Point? Covid-19, Vaccines And The Recovery, Dragas Center For Economic Analysis And Policy, Old Dominion University
Part 1: Inflection Point? Covid-19, Vaccines And The Recovery, Dragas Center For Economic Analysis And Policy, Old Dominion University
State of the Commonwealth Reports
To say that most Virginians would prefer to forget 2020 might be an understatement. The COVID-19 pandemic threw tens of thousands of Virginians out of work, shuttered businesses and abruptly transitioned much of education into the world of remote learning. As 2021 draws to a close, the story has changed from one of shock to one of recovery. In this chapter, we examine the impact of the pandemic, the ongoing recovery and prospects for continued growth in 2022.
A Dynamic Model Of The Choice Of Technology In Economic Development, Haiwen Zhou, Ruhai Zhou
A Dynamic Model Of The Choice Of Technology In Economic Development, Haiwen Zhou, Ruhai Zhou
Economics Faculty Publications
In this overlapping-generations model, there is unemployment in the manufacturing sector. Manufacturing firms engage in oligopolistic competition and choose technologies to maximize profits. With capital as a fixed cost of production, increasing returns in the manufacturing sector exist. In the unique steady state, first, when individuals become more patient, the savings rate increases while the level of an individual’s income decreases. Second, an increase in population or percentage of income spent on manufactured goods does not change steady-state technology while the level of an individual’s income decreases. Third, an increase in the wage rate leads manufacturing firms to choose more …
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
Economics Faculty Publications
In this general equilibrium model, firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Capital and labor are the two factors of production. The existence of efficiency wages leads to unemployment. The model is able to explain some interesting observations of the labor market. First, even though there is neither long-term labor contract nor costs of wage adjustment, wage rigidity is an equilibrium phenomenon: an increase in the exogenous job separation rate, the size of the population, the cost of exerting effort, and the probability that shirking is detected will not change the equilibrium wage rate. …
Unemployment And Economic Integration For Developing Countries, Haiwen Zhou
Unemployment And Economic Integration For Developing Countries, Haiwen Zhou
Economics Faculty Publications
While financial or trade integration between countries may increase the size of the market and aid the adoption of more advanced technologies, will it also increase the level of urban unemployment for a developing country? In this model, there is unemployment in the urban sector. Manufacturing firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Financial firms provide capital to manufacturing firms and they also engage in oligopolistic competition. We show that an increase in the wage rate in the manufacturing sector changes neither the level of technology nor the level of employment in the manufacturing …
Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi
Health Care Use, Out-Of-Pocket Expenditure, And Macroeconomic Conditions During The Great Recession, Juan Du, Takeshi Yagihashi
Economics Faculty Publications
We study how macroeconomic conditions during the Great Recession affected health care utilization and out-of-pocket expenditures of American households. We use two data sources: the Consumer Expenditure (CE) Survey and the Survey of Income and Program Participation (SIPP); each has its own advantages. The CE contains quarterly frequency variables, and the SIPP provides panel data at the individual level. Consistent evidence across the two datasets shows that utilization of routine medical care was counter-cyclical, whereas hospital care was pro-cyclical during the Great Recession. When we examine the pre-recession period, the relationship between macroeconomic conditions and health care use was either …
Part 4: The Economic Plight Of African American Men In Hampton Roads, Regional Studies Institute, Old Dominion University
Part 4: The Economic Plight Of African American Men In Hampton Roads, Regional Studies Institute, Old Dominion University
State of the Region Reports: Hampton Roads
The worldwide recession significantly worsened the economic condition of African American men. There are multiple reasons why this was so and credible solutions often are controversial.
Education And Economy: The Impact Of Investment In Human Capital Through Education On Unemployment, Zafer Pirim
Education And Economy: The Impact Of Investment In Human Capital Through Education On Unemployment, Zafer Pirim
Educational Foundations & Leadership Theses & Dissertations
The impact of investment in human capital on economy has always been discussed in the literature. Existing studies in the literature generally focus on short term impacts of investment in human capital. While some studies see significant impact, some other ones see little or no impact. This study manipulated data that was cover a long span of time, a 25-year period. In this study the researcher inquired whether there is a significant correlation between education and economy in terms of the impacts of investment in human capital on unemployment over a long span of time. In this empirical study panel …
Part 9: Dashboard Indicators Of Vision Hampton Roads, Regional Studies Institute, Old Dominion University
Part 9: Dashboard Indicators Of Vision Hampton Roads, Regional Studies Institute, Old Dominion University
State of the Region Reports: Hampton Roads
Vision Hampton Roads provides a “dashboard” of critical performance variables that helps us determine how we really are doing in areas such as education and the economy. Our report card is mixed.
The Impact Of Trade Liberalization On Growth, Unemployment, And Poverty In Bangladesh, Maha Z. Mirza
The Impact Of Trade Liberalization On Growth, Unemployment, And Poverty In Bangladesh, Maha Z. Mirza
Graduate Program in International Studies Theses & Dissertations
Trade liberalization has been one of the major policy components of the governments of the developing countries in the recent decades. Bangladesh as many other developing nations, has adopted different measures of trade reform policies as an element of International Monetary Fund's (IMF) Structural Adjustment Program (SAP), as well as to be an integral part of the world wide trend of globalization. Such policy measures include the reduction/rationalization of tariff rate, simplification of import and export trade procedures, relaxation of restrictive trade policies, and reform of financial and monetary policies. Even though, the trade reform measures were anticipated to increase …
An Assessment Of The Validity Of The Unemployment Variable As A Determinant Of Changes In Money Wages In Wage-Estimation Models, James L. Jennings
An Assessment Of The Validity Of The Unemployment Variable As A Determinant Of Changes In Money Wages In Wage-Estimation Models, James L. Jennings
Economics Theses & Dissertations
No abstract.