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Full-Text Articles in Economics
The Six-Year Hangover: An Assessment Of The Effectiveness Of Unconventional Monetary Policy In Dealing With Debt Overhang Within The U.S. Economy, Meredith Moshier
The Six-Year Hangover: An Assessment Of The Effectiveness Of Unconventional Monetary Policy In Dealing With Debt Overhang Within The U.S. Economy, Meredith Moshier
Honors Theses
After the Financial Crisis of 2007 to 2008, the Federal Reserve and the federal government used monetary and fiscal policy to buoy the economy out of the recession, but the Fed had to turn to non-standard forms of monetary policy, or unconventional monetary policy. The Federal Reserve used forward guidance, quantitative easing, and the maturity extension program to: lower interest rates, raise inflation expectations, and increase GDP. Six years after the Financial Crisis, the Federal Reserve has begun to taper from unconventional monetary policy. Yet, there has been much debate as to whether unconventional monetary policy is effective or not, …
Can Policy Spur Technological Growth?, William Sargent
Can Policy Spur Technological Growth?, William Sargent
Honors Theses
The long-term slowdown in productivity growth for OECD countries, despite increased resources allocated to R&D, has once again raised the issue of limits of technological change. I explore the relationship between labor productivity growth and R&D intensity, using macro-level panel data from OECD countries. My empirical analysis essentially tests the semi-endogenous growth theory against the fully-endogenous Schumpeterian growth theory. The semi-endogenous framework assumes diminishing returns to R&D and requires positive population growth to generate long-run growth. The fully-endogenous framework assumes growing product variety and requires a constant share of R&D inputs in overall inputs in order to generate positive long-run …