Economics Commons^™

The Rescue Of The Us Auto Industry, Module F: Auto Supplier Support Program, Riki Matsumoto

Journal of Financial Crises

The Global Financial Crisis that began in 2007 intensified the decade-long malaise of two of the largest auto manufacturers in the US, General Motors and Chrysler. Their possible collapse was deemed to pose a systemic risk by the United States government. In response, the Department of the Treasury made efforts to provide support to the automotive industry through the Automotive Industry Financing Program (AIFP). As US auto parts suppliers experienced deteriorated automotive markets, disrupted manufacturer operations, and stressed credit markets, the Treasury announced the Auto Supplier Support Program (ASSP) on March 19, 2009, as an auxiliary program to the overall …

The Rescue Of The Us Auto Industry, Module C: Restructuring Chrysler Through Bankruptcy, Alexander Nye

Journal of Financial Crises

In late 2008, due to the confluence of the financial crisis and years of structural decline in the auto industry, Chrysler was nearing bankruptcy. The US Treasury provided Chrysler’s owner, Chrysler Holding, with a $4 billion bridge loan and Chrysler’s related finance company, Chrysler Financial, with a $1.5 billion financing program under the Troubled Assets Relief Program (TARP). The government-led restructuring through bankruptcy involved the commitment of roughly $5 billion in debtor-in-possession (DIP) loans from the US Treasury and the Canadian government, under which the US Treasury ultimately lent $1.89 billion, using TARP funds, and Canada lent about $1 billion, …

The Rescue Of The Us Auto Industry, Module D: Emergency Assistance To Ally Financial (Formerly Gmac), Riki Matsumoto, Kaleb B. Nygaard

Journal of Financial Crises

In 2008, GMAC was a $200 billion company providing financing to General Motors customers. As the Global Financial Crisis entered a critical stage in early 2008, GMAC’s funding strategy and liquidity position were adversely affected by the significant disruption in credit markets and the broader economic downturn. This reduced access to financing, which impacted GMAC’s ability to provide automotive wholesale inventory and retail financing to General Motors and Chrysler. In late 2008 and early 2009 GM and Chrysler underwent a complex restructuring process. To restore liquidity to GMAC’s auto finance business, the Federal Reserve agreed to expedite GMAC’s conversion to …

The Rescue Of The Us Auto Industry, Module A: Automotive Bridge Loans, Alexander Nye

Journal of Financial Crises

In 2008, in the midst of the Global Financial Crisis, America’s Big Three automakers neared their breaking point. Two of them, General Motors (GM) and Chrysler, asked Congress for funding to prevent uncontrolled bankruptcies. Policymakers realized these uncontrolled bankruptcies would damage the manufacturing sector. Congress considered but failed to pass a framework conditioning short-term financing on the companies’ producing acceptable restructuring plans. With the companies warning that they could not survive the coming presidential transition, on December 19, 2008, President George W. Bush announced the Automotive Industry Financing Program (AIFP) under the authority of the Emergency Economic Stability Act (EESA) …

The Rescue Of The Us Auto Industry, Module B: Restructuring General Motors Through Bankruptcy, Kaleb B. Nygaard

Journal of Financial Crises

As the Global Financial Crisis worsened in 2008, credit markets tightened and a broader economic downturn developed, hitting the auto industry particularly hard. The crisis intensified a decade-long decline of the largest US auto manufacturers. Because of its size and importance to the economy, the US government decided to provide assistance to General Motors (GM) to sustain it while it developed plans for its long-term viability. Congress declined to authorize funding for the auto manufacturers, but in December 2008, Treasury provided a bridge loan to GM under the Troubled Assets Relief Program (TARP) to sustain the company until the Obama …

Broad-Based Capital Injection Programs, June Rhee, Junko Oguri, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

This paper surveys 36 broad-based capital injection (BBCI) programs and attempts to identify some best (and worst) practices. We argue that it is crucial to distinguish between programs implemented during acute (“panic”) and chronic (“debt overhang”) phases of a crisis, where the goals of program design should be different. In an acute phase, programs should be designed to influence the behavior of bank counterparties, while in chronic phases, the focus should be on bank behavior itself. With this framing, we identify seven themes to guide program design, and provide many illustrative examples for the policymaker’s tool kit.

New York Camp Econometrics Xvi Program, Center For Policy Research

Camp Econometrics-Programs

No abstract provided.

Research In Focus: How Does Urban Development Impact Carbon Emissions From Transportation?, Matthew Mccarthy

Student Research Symposium

This research delves into the issue that America is defined by three large issues. The United States is characterized by high automobile dependence, and community development is characterized by high sprawl and suburbs. These characteristics have allowed the transportation sector to account for the largest sector of greenhouse gas emissions in our nation. In searching for solutions to this problem, the research and work of professors Robert Cervero and Kara Kockelman is presented. Through many papers and research, their nicknamed 5D's and presented. These are 5 principles of design and transportation, that when utilized reduce the vehicle miles traveled (VMT) …

Comparative Book Review: “Leading Through A Pandemic” And “Work Smart Now”, Ghenwa Mahmoud Al Hakim

Arab Economic and Business Journal

This article provides comparative review of two books “Leading Through a Pandemic: The Inside Story of Humanity, Innovation, and Lessons Learned During the COVID-19 Crisis” and “WORK SMART NOW How to jump start productivity, empower employees and achieve more” written by professional authors in the field of leadership and successful management practices. These books were chosen for being highly effective in contributing added value knowledge to the literature of leadership practices, whether in the context of crises or normal conditions. The review was commenced with description of the chapters of the books and clarifying its infringements to the readers …

Transforming Creativity Skills Into Creative Habits, Bethlem Clavijo Boronat, Halim Choueiry

Arab Economic and Business Journal

In a constantly changing and uncertain word, the creative capability is a key skill, not only for professional and personal success, but for survival. Educational systems have traditionally treated creativity as a marginal component of educational programs and, when it has been taught, it has been done in the focus of tools and techniques more than on building a solid creative base for students. This paper analyses the situation of the present-day creativity teaching in Higher Education and determines the key capabilities that allow the students to build a solid creative personality. After that, the paper offers a range of …

Lesson-Drawing And Policy Diffusion Of Gcc Countries In The Development Of Renewable Energies: The Case Of The Kingdom Of Bahrain, Vivien Exartier

Arab Economic and Business Journal

The Gulf region is a booming economic region whose fast development depends very much on its natural energy resources. However, the accelerating pace of regional development and mega-projects also meant using more power generation and energy availability. Gas consumption in Saudi Arabia, Qatar, Kuwait, and the UAE surged by 50% between 2002 and 2008. GCC states occupy the top global rankings in carbon dioxide emissions per capita.

The comparative study of public policy is concerned with how different governments respond to a common problem. Comparisons can be made in terms of programs, resources, or outcomes. The paper compares how GCC …

Building Climate Resilience In Indian Farm Households: An Analysis Of National And State Policies And Initiatives, A. Suresh, P. K. Viswanathan

Arab Economic and Business Journal

Over the years, the wrath of the nature in the form of adverse changes in the climate is borne by the agriculture sector all over the world, threatening the global food security. Indian agriculture is highly vulnerable to climatic extremes as agriculture forms the mainstay of the rural population. With increasing adverse effects caused by the climatic extremes, India has also embarked on various initiatives towards making its agriculture sector resilient to the vagaries of nature. In this regard, this paper reviews the studies related to climate change and its impact on Indian agriculture followed by the climate resilient agriculture …

Blockchain Technology For Reshaping Stock Exchanges: A Qualitative Exploratory Study In Palestine, Asia Aburidi

Arab Economic and Business Journal

Purpose: This research aims to explore how to reshape stock exchanges by using blockchain technology with an emphasis on the case of the Palestine Exchange. Design/methodology/approach: This research gathered primary data from semi-structured and open-ended interviews. Online interviews were conducted to get information from professionals and academics interested in blockchain. The sample for this research was determined using convenience sampling and a snowball sampling approach. The data was analyzed using the deductive content analysis method. Findings: The research revealed that implementing blockchain is appropriate for third-world countries because it does not necessitate the construction of buildings or infrastructure. Additionally, …

How To Put The Collapsed Lebanese Banking Sector On The Right Track?, Danielle Khalife, Jad Yammine, Tatiana El Bazi

Arab Economic and Business Journal

The revival of Lebanon involves regaining trust in its banking system. Starting by highlighting the main banking sector’s inefficiencies in Lebanon, as well as the bad investment practices that have led to the current financial crisis, a full business model that could restore confidence in the Lebanese banking sector, and increase its profitability in the foreseeable future is proposed. This new business structure tackles three main areas including, cost reduction, liabilities management, and income generation, is suggested with evidence on how this model could play a major role in the upcoming recovery period and lead to positive financial results.

Fast Moving Consumer Goods Sector In India – Tending Towards Oligopoly?, S. Anupama, Dhanisha Dharmajan, Rajiv Nair

Arab Economic and Business Journal

We study the performance of the fast-moving consumer goods (FMCG) sector, in India. It is the fourth largest sector in India. Macroeconomic factors, modern production techniques, robust logistics facilities, efficient distribution networks and superior marketing capabilities have given the sector an edge over the other sectors. Firm performance is determined by considering liquidity, solvency and profitability ratios and also by employing common size statements, and comparative statements. We find that the sector appears to be overly dependent on the performance of a few firms. We further find that firm performance is not related to non-commercial factors such as CSR.

Future Proofing Entrepreneurship In The Arab World, Haya Al-Dajani

Arab Economic and Business Journal

This conceptual article proposes a cooperative entrepreneurship framework with a producer cooperative enterprise start-up model to contribute to addressing the complex consequences of the social, political and economic challenges affecting the Arab world. The article argues that the adoption of a producer cooperative enterprise start-up model will contribute to future proofing entrepreneurship in the Arab world, and avoid a return to a preference for public sector employment that will stifle the sustainable social and economic development of the region. As such, the article contributes to bridging the gap in the literature on entrepreneurship start up support initiatives and models in …

Note From The Editors, Bettina Lynda Bastian, Nehme Azoury

Arab Economic and Business Journal

No abstract provided.

The Effect Of Quantitative Easing On U.S. Stock Prices And Wealth Inequality, Griffin W. Phillips

Student Scholar Showcase

My thesis will investigate and try to find a casual relationship between Quantitative Easing, or “QE”, and the U.S. stock market since 2003. The secondary effects will then be investigated to see if stock prices impact wealth inequality. To find the causal relationship between the two a regression model will be used. It predicts the magnitude of effects for QE and other variables that may impact stock prices. Since 2007-2009, the Federal Reserve has used QE as a means to spur economic growth. This expansionary monetary policy has impacted many financial markets including the U.S. stock market. Finding the extent …

Putting The Green Back In Greenbacks: Opportunities For A Truly Green Stimulus, Farzad Taheripour, Maksym Chepeliev, Richard Damania, Thomas Farole, Nancy Lozano Gracia, Jason Daniel Russ

Department of Agricultural Economics Faculty Publications

Can countries reorient their productive capacity to become more environmentally friendly and inclusive? To investigate this question this paper uses a standard Input-Output modeling framework and data from 141 countries and regions to construct a new global dataset of employment, value-added, greenhouse gas (GHG) emissions (disaggregated into CO2 and Non-CO2 elements), and air pollution (including nine categories of air pollutants such as PM2.5) multipliers from supply side investments. We find that many of the traditional sectors in agriculture and industry have large employment multipliers, but also generate male dominant, lower skill employment, and tend to have higher emission multipliers. It …

The Effect Of Income On Healthy Food Options, Hannah M. Doherty

Undergraduate Economic Review

This paper explores the effect of income per capita on the number of grocery stores and fast-food franchises in an area. Using a panel dataset to allow for the inclusion of every county in the United States across a period of three years, the results suggest that the income per capita of a county significantly impacts the number of grocery stores and fast-food restaurants in the area. Other factors such as education, age, and attributes regarding time constraints also play an important role in determining the number of grocery stores and fast-food franchises in a location.

Faktor-Faktor Yang Mempengaruhi Suku Bunga Pinjaman Perumahan, Bagus Dwi Prasetyo, Nining Indroyono Soesilo

Jurnal Kebijakan Ekonomi

This study examines the causes of high and low mortgage rates in a country using panel data from 17 countries in Asia (China, Hong Kong, Indonesia, India, Japan, Singapore, South Korea, Thailand), Australia (Australia), Europe (France, Germany, Italy, Spain, United Kingdom) and America (Canada, United States) to see how conditions are in these countries and their institutional housing finance system. By assuming that there is a simultaneous relationship at the mortgage rates which is a two-way relationship, where the dependent variable has an influence on the independent variable. The estimation results of the model using the simultaneous equation also show …

The Fuel For Neo-Nazism, Brandon M. Rubsamen

Global Tides

This paper attempts to explain the cause of support for far-right extremism movements in Europe. It takes a comparative approach in explaining that support by first analyzing Germany and Luxembourg. In each country, politics, history, economics, and society are explored in order to elicit a root cause. Once that main factor is found, Norway and Greece are also analyzed to see if the hypothesis holds. Political stability is hypothesized to be the root cause in far-right support in Germany (and lack thereof in Luxembourg), and the examples of Norway and Greece support this hypothesis. By comparing and contrasting aspects of …

Earning Rewards And The Endowment Effect: Evidence From A Lab Experiment, Misael Bruzzone

Celebration of Research

The manner in which an item is attained affects the perceived value of that item by the owner. Previous research has shown that personal attachment (Shu et al. 2011), self-made products (Norton et al. 2012), and hard work (Festinger, 1957) all influence how much owners value items. I devised a lab experiment in which students from Northwestern College performed an unrelated test before receiving a hot drink of their choice. Participants were then asked to offer their willingness to pay for their drinks. The experiment differs from previous research in that the work being done is unrelated to the product …

Critically Analyzing American Constitutionalism, Daniel Harris

Helm's School of Government Conference - 2021-2024

It is a survey of negative consequences caused by the structure of the U.S. Constitutionalism and its ideological underpinnings.

Economist's Moral Reasoning On Foreign Aid, Stephen Langeland

Helm's School of Government Conference - 2021-2024

No abstract provided.

A Case Study: Socialism In Venezuela, Victoria Matlock

Helm's School of Government Conference - 2021-2024

No abstract provided.

Worth In The Workforce: How To Reform The Fair Labor Standards Act 14(C) Provisions For Persons With Disabilities, Todd Robatin

Helm's School of Government Conference - 2021-2024

No abstract provided.

Economic Losses From Covid-19 Cases In The Philippines: A Dynamic Model Of Health And Economic Policy Trade-Offs, Elvira P. De Lara-Tuprio, Ma. Regina Justina E. Estuar, Joselito T. Sescon, Cymon Kayle Lubangco, Rolly Czar Joseph T. Castillo, Timothy Robin Y. Teng, Lenard Paulo V. Tamayo, Jay Michael R. Macalalag, Gerome M. Vedeja

Mathematics Faculty Publications

The COVID-19 pandemic forced governments globally to impose lockdown measures and mobility restrictions to curb the transmission of the virus. As economies slowly reopen, governments face a trade-off between implementing economic recovery and health policy measures to control the spread of the virus and to ensure it will not overwhelm the health system. We developed a mathematical model that measures the economic losses due to the spread of the disease and due to different lockdown policies. This is done by extending the subnational SEIR model to include two differential equations that capture economic losses due to COVID-19 infection and due …

Egyptian Defence Programmes And Their Impact On Social And Economic Development Of Egypt, Nazli Madkour

Archived Theses and Dissertations

No abstract provided.

The Effect Of Minimum Wage Increases On Employment Of Teenagers In New England, Felicia O’Reilly

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the relationship between increasing minimum wage and the number of hours that teenagers ages 15-19 work in New England states during the years 2002- 2019. In these years, all New England states have had various minimum wage rates, this paper will use feasible general least squares state-level panel data analysis to see if there is a positive or negative impact on teenage employment due to increases in minimum wage. Data was collected from the Current Population Survey, the American Community Survey, and state census data, and used with an equation derived by Zavodny (2000). State-level panel data …