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Partial Disability And Labor Market Adjustment: The Case Of Spain, José Ignacio Silva, Judit Vall 2017 Universitat Pompeu Fabra

Partial Disability And Labor Market Adjustment: The Case Of Spain, José Ignacio Silva, Judit Vall

José Ignacio Silva


Although partially disabled individuals in Spain are allowed to combine disability benefits with a job, the empirical evidence shows that the employment rate of this group of individuals is very low because they have a much lower job finding and a higher job separation rates than nondisabled workers. Moreover, a decomposition analysis of the equilibrium employment rate shows that the differences in the job finding rates explain 85 percent of the disabled employment gap. To explain these facts, we construct a labor market model with search intensity and matching frictions to identify the incentives and disincentives to work in Spain ...


Essays On Inequality And Macroeconomic Stability, Thomas Hauner 2017 The Graduate Center, City University of New York

Essays On Inequality And Macroeconomic Stability, Thomas Hauner

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

This dissertation consists of three chapters. . .

Chapter 1: Aggregate Wealth and Its Distribution as Determinants of Financial Crises: Panel Evidence This essay investigates the relationship between wealth inequality and financial crises across a panel of nine advanced economies over the past 100 years. While substantiation of a role for income inequality is ambiguous in the literature, evidence is presented suggesting a unique capacity for the accumulation of assets to increase the likelihood of a future financial crisis episode. Testing long-run panel data with a reduced form, two-way fixed effects model, estimates suggest that increasing wealth inequality, in an economy with ...


Quantitative Easing: Money Supply And The Commodity Prices Of Oil, Gold, And Wheat, Aaron Kasteler 2017 Utah State University

Quantitative Easing: Money Supply And The Commodity Prices Of Oil, Gold, And Wheat, Aaron Kasteler

All Graduate Plan B and other Reports

The recent financial crisis has raised awareness among the public regarding the role the Federal Reserve has in the broader economy, primarily as it pertains to overall price levels, and especially to commodities. Has the implementation of quantitative easing had an effect on underlying commodity prices and, if so, to what degree? Specifically, has the rise in the money supply created a subsequent rise in prices that are transferred onto the end consumer? This paper surveys the recent empirical evidence of the policy of quantitative easing as it relates to the money supply and commodity prices. It then uses this ...


The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. McPhail, Nathan Rodriguez, Peter Orazem 2017 Iowa State University

The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. Mcphail, Nathan Rodriguez, Peter Orazem

Peter F. Orazem

Mandatory stress testing has been acclaimed by banking regulators as a key response to preventing future financial crises. Each year banks in the United States with over $50 Billion in assets must perform a Comprehensive Capital Analysis and Review (CCAR) . Banks with over $10 Billion are subject to Dodd-Frank Act Stress Testing (DFAST). This study examne the relative importance of international or national macroeconomic shocks, state-level shocks, and idiosyncratic shocks on mortgage rate charge-offs for the universe of all banks for the 2002-2014 period. We find tha banks with over $10 billion in assets have charge-off rates that are very ...


Informality, Labor Regulation, And The Business Cycle, Carlos Urrutia, Gustavo Leyva 2017 Banco de México

Informality, Labor Regulation, And The Business Cycle, Carlos Urrutia, Gustavo Leyva

Carlos Urrutia

We analyze the joint impact of employment protection and informality on macroeconomic volatility and the propagation of shocks in emerging economies. For this, we propose a small open economy business cycle model with frictional labor markets, employment protection and an informal sector, modeled as self-employment. The model is calibrated to the Mexican economy, in particular to business cycle moments for employment and informality obtained from our own calculations with the ENOE survey. We show that interest shocks, which affect specifically job creation in the formal sector, are key to obtain a counter-cyclical informality rate. In our model, confronted with similar ...


Return Comovement, David C. Parsley, Helen Popper 2017 Santa Clara University

Return Comovement, David C. Parsley, Helen Popper

David C. Parsley

We examine intra-market return comovement within each of 33 economies’ stock exchanges from 1995 through 2013 using a model-free comovement gauge. We find that the stability of international macroeconomic trilemma policies, the number of crises, and the extent of turnover overshadow the empirical relevance of many variables previously thought to be important for intra-market comovement, including country risk, corruption, and investor protections. We also use a much longer historical sample of U.S. firms to examine compositional explanations of the well-known U.S. comovement decline and to decompose the comovement into trend and cycle. Our findings challenge the compositional explanations ...


The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. McPhail, Nathan Rodrigues, Peter Orazem 2017 Iowa State University

The Relative Importance Of Macroeconomic Shocks, Regional Shocks And Idiosyncratic Risk On Large And Small Banks, Jack R. Fischer, Joseph E. Mcphail, Nathan Rodrigues, Peter Orazem

Economics Working Papers

Mandatory stress testing has been acclaimed by banking regulators as a key response to preventing future financial crises. Each year banks in the United States with over $50 Billion in assets must perform a Comprehensive Capital Analysis and Review (CCAR) . Banks with over $10 Billion are subject to Dodd-Frank Act Stress Testing (DFAST). This study examne the relative importance of international or national macroeconomic shocks, state-level shocks, and idiosyncratic shocks on mortgage rate charge-offs for the universe of all banks for the 2002-2014 period. We find tha banks with over $10 billion in assets have charge-off rates that are very ...


A Review On Literature Of Waqf For Poverty Alleviation Between 2006-2016, Nur Atikah Atan, Fuadah Johari 2017 Universiti Sains Islam Malaysia

A Review On Literature Of Waqf For Poverty Alleviation Between 2006-2016, Nur Atikah Atan, Fuadah Johari

Library Philosophy and Practice (e-journal)

Background - The success of Waqf as a source of socio-economic financing in Islamic history in developing a country by providing the social and public goods to the society have been a major factor for Waqf practices to be retrieved back today. In order to exterminate the poverty, depending in Zakat alone is not enough. Waqf can be an alternative in solving the socio-economic problem of the Ummah which covers the issues such as poverty, inequality and rising cost of living as well in promoting the social well-being in the society. Purpose - The purpose of this article is to analyze the ...


Living With Robots: Automation And Income Inequality In The 21st Century, Michael Dickson 2017 University of Washington Tacoma

Living With Robots: Automation And Income Inequality In The 21st Century, Michael Dickson

Global Honors Theses

The increasingly automated nature of manufacturing and service industries poses difficulties a majority of the world’s employed population. This creates an automative industrial revolution driven by advanced computing systems and increasingly independent robotic technologies. Losing employment in industrial revolutions such as this one poses threats to the established population. The replacement of obsolete work with new, more valuable work has not been observed in this case, presenting the problem of extreme unemployment to the nations of the world that was not a problem in past industrial revolutions. In order to counter the effects of mass unemployment, several groups have ...


Malthusian Stagnation Is Efficient, Juan C. Cordoba, Xiying Liu 2017 Iowa State University

Malthusian Stagnation Is Efficient, Juan C. Cordoba, Xiying Liu

Juan Carlos Cordoba

Malthusian economies are generally deemed inefficient: stagnated, highly unequal, and densely populated by a labouring class prone to high fertility. This article defines and characterizes efficient allocations in Malthusian environments of fixed resources and endogenous fertility. We show, that under general conditions, efficient allocations exhibit stagnation in standards of living, inequality, differential fertility, and a high population density of poorer individuals.


Decline In Oil Prices Puts Pressure On Major Producers, Liam Conway-Pearson, Monika Hur, Ben Mandel 2017 Northwestern University

Decline In Oil Prices Puts Pressure On Major Producers, Liam Conway-Pearson, Monika Hur, Ben Mandel

Politica Northwestern

As the world continues to grapple with dramatically lower oil prices, economic and political implications for certain major oil producers are beginning to materialize. Some countries, like Saudi Arabia, the world’s largest petroleum exporter, were more prepared for the global downturn than others. Unlike many oil producers, the Saudis are capable of running a government deficit for an extended period of time partly due to extremely large monetary reserves. However, not all oil producers have this luxury, and countries that have a high dependence on oil production have begun to suffer. The countries that have been hit hardest are ...


Up, Down And Reciprocal: The Dynamics Of Intergenerational Transfers, Family Structure And Health In A Low-Income Context, Collin F. Payne, Luca Maria Pesando, Hans-Peter Kohler 2017 Harvard University

Up, Down And Reciprocal: The Dynamics Of Intergenerational Transfers, Family Structure And Health In A Low-Income Context, Collin F. Payne, Luca Maria Pesando, Hans-Peter Kohler

Population Center Working Papers (PSC/PARC)

In the absence of well-functioning public transfer systems and safety nets, the family acts as the key provider of income and support through the intergenerational redistribution of resources. In this paper we use micro-level longitudinal data and a mix of methodologies to document the lifecycle patterns of financial transfers in a rural, sub-Saharan African population. Underneath a well-established age-pattern of intergenerational transfers in which transfer patterns change according to broad stages of the economic life cycle, our analyses document significant heterogeneity and fluidity: Intergenerational transfers are variable and reverse their direction, with individuals moving between the provider and recipient states ...


The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell 2017 James Madison University

The Price Revolution In The Ottoman Context: Economic Upheaval In The Sixteenth Century, Dylan Lawrence Russell

Middle Eastern Communities and Migrations Student Research Paper Series

The inflationary pressures of the Price Revolution had an impact on Ottoman agricultural organization, state finances, industry, and the growth of corruption. This analysis will examine the causes, effects, and scope of inflation in the sixteenth century. Inflation alone did not cause these drastic changes, as other very significant developments also contributed to the turbulent economic environment. However inflation did, in fact, influence many basic transformations, including shifts in wealth, power, and the enrichment of specific social classes at the expense of others.


Credit Conditions, Dynamic Distortions, And Capital Accumulation In Mexican Manufacturing, Carlos Urrutia, Felipe Meza, Sangeeta Pratap 2017 Hunter College

Credit Conditions, Dynamic Distortions, And Capital Accumulation In Mexican Manufacturing, Carlos Urrutia, Felipe Meza, Sangeeta Pratap

Carlos Urrutia

The objective of this paper is to document a transmission channel from credit conditions to capital accumulation at a disaggregated level. We use a simple multi-sector model of production and investment to identify investment wedges (i.e., deviations from the optimality condition implied by a stochastic Euler equation). Using a panel of observations at the 4-digit level from the Mexican manufacturing industry, we measure the corresponding dynamic distortions in capital accumulation. Our counterfactual experiments show that the behavior of capital distortions is important to account for changes in the aggregate capital stock over time. We then analyze the sources of ...


The Effect Of Integration: A Study On The Impact Of Diversity On Economic Indicators, Luke H. Schleier 2017 University of San Diego

The Effect Of Integration: A Study On The Impact Of Diversity On Economic Indicators, Luke H. Schleier

Undergraduate Honors Theses

This paper examines the effect of diversity, measured by the dissimilarity index, on the economic strength of an area. Economic strength is measured using five economic indicators: median home value, median income, median gross rent, percentage of people with health insurance, and firms per capita. The work aims to show that there is a positive economic impact due to integrating and creating communities that are more diverse. Previous work shows there is a positive impact of diversity on economic indicators such as wages, rents, and production but previous studies do not look at the effect on these economic indicators. This ...


A Case Study Of The Impact Of The -Ny-Suny 2020 Challenge Grant Program Act On Public College Enrollment, Mekaj T. Daniel Ms. 2017 City University of New York (CUNY)

A Case Study Of The Impact Of The -Ny-Suny 2020 Challenge Grant Program Act On Public College Enrollment, Mekaj T. Daniel Ms.

School of Arts & Sciences Theses

In 2011, Governor Andrew Cuomo of New York signed into law NY Senate Bill S5855 establishing the NY-SUNY 2020 Challenge Grant Program Act. This legislation limited year-over-year resident undergraduate tuition increases in the City University of New York (CUNY) and State University of New York (SUNY) systems to a maximum of three hundred dollars ($300) per year from the 2011/2012 school year to 2015/2016. It also mandated that increases in nonresident undergraduate tuition not exceed 10 percent over the previous year. In addition to the tuition cap, a tuition credit is provided to students whose annual resident undergraduate ...


Stock Market Wealth Impact On Consumption Expenditure, Ramberto Jr. Sosa Cueto 2017 State University of New York College at Buffalo - Buffalo State College

Stock Market Wealth Impact On Consumption Expenditure, Ramberto Jr. Sosa Cueto

Applied Economics Theses

The purpose of this thesis is to explain the role of the stock market in determining aggregate consumer behavior. Theoretically, the life-cycle hypothesis is the main link between consumption and wealth. Additionally, a household’s corporate equities holdings form part of that wealth (a small proportion). However, stock market fluctuations account for a significant part of the variation in household wealth, because of the stock prices’ volatility.

In regression models, the estimated relationship between consumption and wealth is commonly positive and statistically significant. The empirical evidence in this paper suggests that the relationship between consumption and wealth is positive and ...


An Inquiry Into The Effect Of The 2014 Russian Sanctions On European Gasoline Markets, Eric S. Peters 2017 University of Tennessee

An Inquiry Into The Effect Of The 2014 Russian Sanctions On European Gasoline Markets, Eric S. Peters

University of Tennessee Honors Thesis Projects

No abstract provided.


The Impact Of Money Supply And Electronic Money: Empirical Evidence From Central Bank In China, Rui Qin 2017 State University of New York College at Buffalo - Buffalo State College

The Impact Of Money Supply And Electronic Money: Empirical Evidence From Central Bank In China, Rui Qin

Applied Economics Theses

The purpose of this paper is to study the electronic money's influence on the money supply as well as the power of the central bank. We show in an illustrative theoretical model that electronic money will impact on money supply, especially affect M0 and M1. Using data of central bank in China during 1990 to 2010 and applying ordinary least squares (OLS) regression models, we find robust evidence that electronic money has a negative impact on M0, but a positive impact on M1. In addition, the central bank's abilities to control money supply can be affected by the ...


Interactions Between Fiscal And Monetary Policy: A New Keynesian Model With Regime Switching Process, Zihao Chen 2017 College of William and Mary

Interactions Between Fiscal And Monetary Policy: A New Keynesian Model With Regime Switching Process, Zihao Chen

Undergraduate Honors Theses

This paper examines the interactions between traditional fiscal and monetary policy tools: government spending and the interest rate. Two models are used: a baseline linear model, and a Markov switching model with active/passive fiscal and monetary policy combinations. The linear model is estimated and the posterior mean parameterization is used to calibrate the regime-switching model. Sims (2002) algorithm and policy function iteration are used to solve the models, and a particle filter is used to evaluate the likelihood functions. The results show that government spending alone cannot raise inflation despite the positive effect on output. The duration of the ...


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