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Imagining Basic Income As An International And Domestic Remedy To Wealth Inequality, Christian A. Davis 2017 The Graduate Center, City University of New York

Imagining Basic Income As An International And Domestic Remedy To Wealth Inequality, Christian A. Davis

All Graduate Works by Year: Dissertations, Theses, and Capstone Projects

Has the success of corporate capitalism undermined the neoliberal ideas it presupposes, leading to the inevitable growth of socialism? While labor unions may lament the export of jobs, the real issue in today’s increasingly administered and mechanized economy is the global loss of jobs. James Ferguson has provided a strong argument that despite the triumphalist narratives of neoliberalism, capitalist development strategies particularly in South Africa have resulted in concentrated wealth, large unemployment, and the growth of transfer payments. More importantly, he shows how traditional critics of capitalism fall short in addressing the issues of a jobless future. For example ...


Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos 2017 Ursinus College

Caught In The Headlights: Revising The Road Kill Hypothesis Of Antebellum Illinois Bank Failures, Scott N. Clayman, Scott Deacle, Andrew J. Economopoulos

Business and Economics Faculty Publications

Illinois had a dismal free banking experience, with over 80% of its free banks failing by the start of the Civil War. Researchers agree that a dramatic change in bond prices was the catalyst, and some have shown that the riskiest banks, ex ante, were the most likely to fail. This study examines how Illinois free banks adjusted their portfolios in the face of increased political and financial risks prior to Abraham Lincoln’s election as president. Lincoln’s nomination in May 1860 and the Democratic Party schism in June 1860 raised the likelihood of secession and the potential for ...


What Goes Up Must Come Down: The Relationship Between The Housing Market Boom And The Subsequent Economic Downturn: Evidence From The Msa Level, Bruce Dale Service 2017 Claremont McKenna College

What Goes Up Must Come Down: The Relationship Between The Housing Market Boom And The Subsequent Economic Downturn: Evidence From The Msa Level, Bruce Dale Service

CMC Senior Theses

Using MSA level data, the paper shows, that geographic areas which experienced the largest housing bubble generally suffered a more serious subsequent economic downturn. More specifically, the paper establishes that MSAs with larger declines in housing permits had larger increases in unemployment. There also appears to be strong evidence of a correlation between the magnitude of a housing boom and the timing of the decline in housing permits. MSAs which experienced larger real housing inflation offered early indications of the subsequent Great Recession.


The End Of The Three Percent Rule: How Structural Changes In The U.S. Economy Have Impacted Economic Growth, Maxwell J. Urman 2017 Claremont McKenna College

The End Of The Three Percent Rule: How Structural Changes In The U.S. Economy Have Impacted Economic Growth, Maxwell J. Urman

CMC Senior Theses

Using data from government sources (FRED, BEA, BLS), the thesis explores the underlying reasons for declining U.S. economic growth. A long standing trend of annual 3% growth no longer seems to hold true for the economy. The paper summarizes current theory as to why the growth has slowed and finds new explanations by analyzing the various major industries which make up GDP. The results show that sectoral shifts in employment from high paying industries to low paying industries help to explain a significant portion of the decline in national growth rates. The decline in growth is primarily driven by ...


Money And Monetary Policy In The Eurozone: An Empirical Analysis During Crises, Jonathan Benchimol, André Fourçans 2016 Bank of Israel

Money And Monetary Policy In The Eurozone: An Empirical Analysis During Crises, Jonathan Benchimol, André Fourçans

Jonathan Benchimol

This paper analyses the role of money and monetary policy as well as the forecasting performance of New Keynesian dynamic stochastic general equilibrium (DSGE) models with and without separability between consumption and money. The study is conducted over three crisis periods in the Eurozone, namely, the ERM crisis, the Dot-com crisis and the Global Financial Crisis (GFC). The results of successive Bayesian estimations demonstrate that during these crises, the non-separable model generally provides better out of sample output forecasts than the baseline model. We also demonstrate that money shocks have some impact on output variations during crises, especially in the ...


Warlord: The Political And Military Ambitions Of Nazi Germany, William R. Underhill 2016 Linfield College

Warlord: The Political And Military Ambitions Of Nazi Germany, William R. Underhill

Senior Theses

There are so many important stories to consider when thinking about World War II. It is easy to think about the popular aspects of the war: the causes, the major figures, the battles, and, of course, the lasting consequences. Yet there are other, lesser known storylines to consider, ones that have taken a backseat to the more popular narratives of the time. It is commonly understood that Nazi Germany was evil and that they had nothing but ill intentions for the rest of Europe and the world. However, it is vital to understand that Germany’s pre-war intentions are notably ...


Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe 2016 CUNY Hunter College

Slavery, Migration, And Local Development In The Western Us, Colin Q. Sharpe

School of Arts & Sciences Theses

This paper examines the effects of migration from eastern slave states in the 19th century on the subsequent development of counties in the Western US. I find that increased migration from slave states has a large, statistically significant negative effect on 2010 income, and no significant effect on racial inequality or overall income inequality. These findings are robust to a variety of specifications, including controls for geographic factors, state fixed effects, and various county level social and economic conditions. Data on individual migrants suggest that the cause of the negative income effect is the lower average human capital endowment of ...


The Gold Standard And The Transmission Of Business Cycles, 1833-1932, Wallace E. Huffman, James R. Lothian 2016 Iowa State University

The Gold Standard And The Transmission Of Business Cycles, 1833-1932, Wallace E. Huffman, James R. Lothian

Wallace Huffman

Descriptions of the gold standard have stressed two very different aspects of that monetary system. Modern observers, concerned with high and rising rates of inflation, have written enthusiastically and often nostalgically of the longer-term price stability that existed during the gold standard era. Many other economists during the past century and a half, however, have rendered a less kindly judgment, emphasizing instead the frequent and sometimes severe business contractions that characterized the period as well as the substantial shorter- and intermediate-term swings in the price level.


Intermediation In Overlapping Generations Economies, Mark Pingle, Leigh Tesfatsion 2016 Iowa State University

Intermediation In Overlapping Generations Economies, Mark Pingle, Leigh Tesfatsion

Leigh Tesfatsion

Do active earnings-driven intermediaries have a significant role to play in dynamic economies, even in the absence of transactions costs and asymmetrical information? This paper shows that the answer is "yes" for the overlapping generations (OG) economy...


Active Intermediation In Overlapping Generations Economies With Production And Unsecured Debt, Mark Pingle, Leigh Tesfatsion 2016 Iowa State University

Active Intermediation In Overlapping Generations Economies With Production And Unsecured Debt, Mark Pingle, Leigh Tesfatsion

Leigh Tesfatsion

It is well known that the first welfare theorem fails for the pure exchange^overlapping generations economy studied by Samuelson (1958) and for the private production overlapping generations economy studied by Diamond (1965). Tirole (1985) combines and extends the Samuelson and Diamond frameworks by permitting both unsecured debt and private pro duction and shows that the first welfare theorem stillfails to hold. This paper shows that the reason for this failure is that intermediation is niodelled as a purely passive coordination ac tivity implemented by a Walrasian Auctioneer.


Political Bargaining And Cartelization In The New Deal: Orange Marketing Orders, Elizabeth Hoffman, Gary D. Libecap 2016 Iowa State University

Political Bargaining And Cartelization In The New Deal: Orange Marketing Orders, Elizabeth Hoffman, Gary D. Libecap

Elizabeth Hoffman

Yet, in our generation we have seen scarcity vanquished, and our ever present fear, so far as agriculture is concerned, is a fear of over abundance. We wish, if not for scarcity, at least for relief from price depressing surpluses. Rexford G. Tugwell, assistant secretary of agriculture.


The Enduring Power Of Coase, Elizabeth Hoffman, Matthew L. Spitzer 2016 Iowa State University

The Enduring Power Of Coase, Elizabeth Hoffman, Matthew L. Spitzer

Elizabeth Hoffman

By many measures, Ronald Coase has been among the most influential economists of the past 60 years. Why is this so? We suggest that Coase’s work has enduring appeal to and insight for social scientists in part because it addresses the biggest and most important social problems: How do we solve governance and coordination problems when limited information, common resource issues, and public good issues produce conflicts among several people at once? Any scholar who works on issues of corporate or common-pool governance, pollution, allocation of seats on legislative committees, regulation of systemic risk in financial markets, provision of ...


Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande 2016 Columbia University

Crafting Chaos: The Classification Of Unilateral Transfers Under The Current Account At Bretton Woods And Its Impact On Remittances To The Indian State Of Kerala, Anish Gawande

Undergraduate Economic Review

This essay aims to analyse the classification of unilateral transfers under the current account at Bretton Woods despite significant opposition from larger delegations of major Allied powers, bringing to the forefront the global liquidity of remittances in the post-War years permitted by their fully currency convertible nature. Using the example of the Indian State of Kerala, this paper charts the relevance of their sustained uninterrupted flow to their subsequent exponential growth in the last three decades, using the case study as a pivot to argue for better policy measures that maximise their multiplier effect.


A Theory Of Future's Market Responses To Government Crop Forecasts, Barry Falk, Peter F. Orazem 2016 Iowa State University

A Theory Of Future's Market Responses To Government Crop Forecasts, Barry Falk, Peter F. Orazem

Peter Orazem

Recently, there has been considerable debate in the government, business and academic communities regarding the value, accuracy, frequency and necessity of government crop forecasts. This debate has intensified due to several developments. The first is the recent trend toward slowing the growth in non-defense public sector expenditures. As the federal budget has been stretched tighter, some information activities have been curtailed. These cutbacks have coincided with a second, not necessarily uncorrelated, development; the increased sophistication of private information collection activities. Private firms now partially duplicate government efforts to disseminate information on, and predictions of, crop forecasts.


Mathew Carey Papers Names Index Database, American Antiquarian Society 2016 University of Pennsylvania

Mathew Carey Papers Names Index Database, American Antiquarian Society

The Magazine of Early American Datasets (MEAD)

Mathew Carey (1760-1839), publisher, economist, and humanitarian, was born in Dublin, Ireland. He came to the United States in 1784 after involvement in Irish revolutionary activities and took up his trade as a printer, publishing the Pennsylvania Herald and the periodical, The American Museum. His book publishing ventures prospered and his firm was a leader in American printing and publishing in the period 1795 to 1835. Carey was an active proponent of the protective tariff, as well as an ardent champion of oppressed minorities in Europe, especially after his retirement from business in 1821. His business was thereafter conducted by ...


Williamsburg Brickmaker Humphrey Harwood's Ledger (1773-1793), Wendy E. Lucas 4505624, Noel D. Campbell 2016 University of Central Arkansas

Williamsburg Brickmaker Humphrey Harwood's Ledger (1773-1793), Wendy E. Lucas 4505624, Noel D. Campbell

The Magazine of Early American Datasets (MEAD)

This file contains processed data from Humphrey Harwood’s Ledger B, folios 1-102. Entries in the ledger suggest that at least 128 folios existed in Ledger B, as well as Ledgers A and C. Ledger B records some of Harwood’s activities between 1776 through his death in 1788, and beyond to 1793, as recorded by William Harwood. For this file, we extracted and processed most of the data available in the ledger, but we were unable to understand the activities recorded in a handful of small accounts, which we omitted. Therefore, this file technically is a processed extract or ...


What Determines Public Pension Investment Risk-Taking Policy, Nancy Mohan, Ting Zhang 2016 University of Dayton

What Determines Public Pension Investment Risk-Taking Policy, Nancy Mohan, Ting Zhang

Nancy Mohan

State public pension plans, mostly defined benefit plans, cover pension benefits for 12.8 million active public employees and 5.9 million retirees and other annuitants. However, by the end of 2009, public pension plans had accumulated a total funding deficit of $697 billion (measured by the difference between actuarial pension assets and liabilities). On average, public pension funds cover 75 percent of their liabilities, but individual state results vary greatly.

The 2008 stock market crash strongly affected pension asset value in that equity allocation on average accounted for 56 percent of invested assets. The average 2009 pension asset beta ...


George Washington's Shipping Invoices From London Factors 1754-1772, Wendy E. Lucas 4505624, Noel D. Campbell 2016 University of Central Arkansas

George Washington's Shipping Invoices From London Factors 1754-1772, Wendy E. Lucas 4505624, Noel D. Campbell

The Magazine of Early American Datasets (MEAD)

From 1754-1772, Washington marketed his crop on the consignment system. He shipped his tobacco to British 'factors' who would sell it for him on the British market, often for re-export to continental Europe. With his tobacco (and at other times during the year), Washington would send correspondence including a list of items he wished his factors to purchase for him with the tobacco revenues and ship to Virginia. The factors would attempt to fulfill Washington's purchase requests, based on product availability and their knowledge of his tastes and willingness to spend. After deducting shipping costs, insurance charges, duties and ...


Patterns Of Growth And The Economic Development Of China, Adam C. Watson 2016 Graduate Center, City University of New York

Patterns Of Growth And The Economic Development Of China, Adam C. Watson

All Graduate Works by Year: Dissertations, Theses, and Capstone Projects

By looking at the historical rise of modern China, starting with the end of the First Opium War (1842) through to the start of the war with Japan (1937), and then from the beginning of Deng Xiaoping’s economic reforms (1979) to the present, this work reveals the striking similarities between the earlier and the later periods of capitalist development. If the country had not been able to draw on the deep-rooted knowledge and skills which originated in Shanghai and the port cities in the mid-nineteenth century, and instead pursued only uninformed free market principles without the training to make ...


Development Of Utility Theory And Utility Paradoxes, Timothy E. Dahlstrom 2016 Lawrence University

Development Of Utility Theory And Utility Paradoxes, Timothy E. Dahlstrom

Lawrence University Honors Projects

Since the pioneering work of von Neumann and Morgenstern in 1944 there have been many developments in Expected Utility theory. In order to explain decision making behavior economists have created increasingly broad and complex models of utility theory. This paper seeks to describe various utility models, how they model choices among ambiguous and lottery type situations, and how they respond to the Ellsberg and Allais paradoxes. This paper also attempts to communicate the historical development of utility models and provide a fresh perspective on the development of utility models.


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