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Articles 1 - 13 of 13
Full-Text Articles in Economic Theory
Financial Alcoholism: An Institutionalist Analysis Of The Repeal Of The Glass-Steagall Act And 2008 Financial Crisis, Eli C. Shapiro
Financial Alcoholism: An Institutionalist Analysis Of The Repeal Of The Glass-Steagall Act And 2008 Financial Crisis, Eli C. Shapiro
Senior Projects Spring 2023
The thesis argues that the the repeal of the Glass-Steagall Act in 1999 was not a leading cause of the 2008 Financial Crisis but did contribute to its scope. It finds that the American economy was already on track before the repeal for a late-2000s financial crisis due to sectoral imbalances as well as the rise of money manager capitalism during the decades before the repeal. However, the repeal contributed to the "legitimization" of financial holding companies and originate-to-distribute model, spreading toxic assets around the financial sector and exposing depositors to this risk during a time of rapidly increasing banking …
Determinants Of Profitability Of Commercial Bank In Afghanistan, Mohammad Osman Saeedi
Determinants Of Profitability Of Commercial Bank In Afghanistan, Mohammad Osman Saeedi
Senior Projects Fall 2023
Over the past two decades, the global financial sector, particularly the banking industry, has undergone significant transformations impacting its performance. Recognizing the pivotal role of the financial sector in economic growth, this study focuses on Afghanistan's banking sector, tracing its roots to the establishment of the first commercial banking institution, Bank Millie Afghan, in 1933. Following decades of war, the banking sector experienced revitalization after 2001, marked by the emergence of a new government, international aid inflow, and increased business activities. Despite remarkable growth, Afghanistan's banking sector faces challenges such as security concerns, cultural issues, and a developing banking culture. …
The Gold Standard And Fiat Money System, Khawaja Mohammad Mudasser
The Gold Standard And Fiat Money System, Khawaja Mohammad Mudasser
Senior Projects Fall 2022
This paper explains two world monetary orders, the Gold Standard and Fiat Money. The paper argues that the Fiat Money system is better than the Gold Standard system because the Gold Standard system increases risk of deflation and restricts economic growth unlike the Fiat Money system. The paper discusses history of both monetary regimes, policy mechanism under both systems and economic outcomes. The paper states the policy and framework for exchange rates and trading under both regimes. It also discusses monetary policy and gold/capital flows under both of the systems.
Democratization Of Finance In China: The Role Of Internet Finance In China’S Economic Transformation, Shuying Han
Democratization Of Finance In China: The Role Of Internet Finance In China’S Economic Transformation, Shuying Han
Senior Projects Spring 2019
Democratization of finance in China is both effective and risky. This is a comprehensive study of the benefits and risks associated with China’s Inclusive Finance Policy and the rapid development of Chinese internet financial industry. Through a retrospective of the emergence of finance, this study will introduce the concept of democratization of finance and evaluate its development in China. The author further examines the approach of Inclusive Finance and Internet-based financial industry and their contributions to the overall financial industry. In addition, this study will also explore the role of Internet-based financial industry to Chinese economy in the context of …
Before 'It' Happens Again: Identifying Financial Fragility In The Financial Sector, John Henry Glascock Iii
Before 'It' Happens Again: Identifying Financial Fragility In The Financial Sector, John Henry Glascock Iii
Senior Projects Spring 2017
The project builds extensively on the theoretical foundations of Minsky’s financial instability hypothesis. A Minskian framework is integrated with both behavioral and human rights theory. The goal is to develop a more holistic view of market dynamics which includes psychological and human rights considerations. In developing this framework, we establish an indicator that can be used to track fragility at the sector and firm levels. This work can be applied to macroprudential policy to more adequately equip regulators whose responsibility it is to tame an unpredictable market.
Establishing Public Banks To Address State And Local Government Fiscal Problems, Erind Disha
Establishing Public Banks To Address State And Local Government Fiscal Problems, Erind Disha
Senior Projects Fall 2016
Unlike the Federal Government, which has the unique legal power to issue a national currency, state and local governments (SLGs) depend on their revenue capacity for spending. Thus, the quality of public services provided by SLGs depends on adequate, stable funding and long-term commitments. This paper begins with an evaluation of the general fiscal condition of SLGs, meanwhile discerning specific budget areas that have become particularly distressed, such as education, healthcare, and infrastructure. Chapter 3 deals with how SLGs engage in municipal finance with private financial institutions. Finally, the fourth chapter presents how arranging a system of public banks across …
Examining Monetary Policy In The Absence Of A Central Bank And Sovereign Currency In Palestine, Salam Marwan Awartani
Examining Monetary Policy In The Absence Of A Central Bank And Sovereign Currency In Palestine, Salam Marwan Awartani
Senior Projects Spring 2016
There is extensive literature on the Israeli-Palestinian conflict that studies the historic, political, and social aspects. However, few scholars have examined the economic model that was born out of the conflict and the various implications behind it. According to Charles Goodhart: “A Central Bank has two main functions. Its first (macro-economic) function is the operation of discretionary monetary policy” and a “second (micro-economic) function, of providing support (e.g., via Lender of Last Resort assistance), and regulatory and supervisory services to maintain the health of the banking system”[1]. However, with the Israeli Occupation’s imposed restrictions on the PMA, the …
Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny
Reflexivity In Financial Markets: A Neuroeconomic Examination Of Uncertainty And Cognition In Financial Markets, Steven Pikelny
Senior Projects Spring 2011
Financial markets exist to disperse the risks of an unknown future in an economy. But for this process to work in an optimal fashion, investors – and subsequently markets – must have a way to interpret uncertainty. The investor rationality and market efficiency literature utilizes a methodology inadequate to address this fact, so I supplement it with the perspectives of epistemology, economic sociology, neuroscience, cognitive science, and philosophy of mind. This approach suggests that what is commonly viewed as market “inefficiency” is not necessarily caused by investor irrationality, but rather by the inherent nature of the epistemological problem faced by …
Is 'Keynesian Policy' Still Viable?, Hyman P. Minsky Ph.D.
Is 'Keynesian Policy' Still Viable?, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Six, single-sided pages of hand-written notes on Keynesian critique of capitalism. While according to J Robinson “Marx is a socialist who analyzed capitalism,” and “Marshal is a Capitalist who analyzed Socialist," Minksy writes “Keynes is a capitalist who analyzed capitalism,” and “uncovered flaws in capitalism due to the very nature of capitalism.” Discusses Keynes work in the 1930s and his time spent in Chicago, among other things. Marked in black ink.
The Evolution Of Financial Institutions And The Performance Of The Economy, Hyman P. Minsky Ph.D.
The Evolution Of Financial Institutions And The Performance Of The Economy, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
No abstract provided.
Policy And Poverty, Part 1, Hyman P. Minsky Ph.D.
Policy And Poverty, Part 1, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
This is the first draft of the first chapter of a possible book Hyman P. Minsky was writing on Policy and Poverty. In this chapter he discusses poverty and income distribution programs in the case of rich countries, where poverty is measured in a relative sense and income in terms of total satisfaction that a household acquires through its provision of private and public goods. Minsky stresses that a successful poverty alleviation program should first, work with and not against economic forces, second, have realistic goals and effective policy instruments and third, have recognizable benefits for the well-off too. Specifically, …
Policy And Poverty, Part 3, Hyman P. Minsky Ph.D.
Policy And Poverty, Part 3, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Part 3 of an unfinished book.
Policy And Poverty, Part 2, Hyman P. Minsky Ph.D.
Policy And Poverty, Part 2, Hyman P. Minsky Ph.D.
Hyman P. Minsky Archive
Part 2 of an unfinished book.