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Econometrics Commons

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Full-Text Articles in Econometrics

The Macroeconomics Of The Declining U.S. Labor Share: A Debt-Led Explanation, Alex Jianan Xu Jan 2015

The Macroeconomics Of The Declining U.S. Labor Share: A Debt-Led Explanation, Alex Jianan Xu

Senior Projects Spring 2015

This paper aims to answer two major conundrums in macroeconomic theory with regards to the U.S. economy. First, standard macroeconomic models such as Harrod-Domar and Solow theoryze that factor shares are constant; however, actual measures of the U.S. labor share have been on a downward trend since the early 1980s. The second conundrum relates to the Post-Kaleckian wage-led or profit-led view of economic growth. It indicates that a fall in the labor share in a wage-led economy will result in a fall in aggregate demand (due to deceases in consumption), and an increase in aggregate demand in a profit-led economy …


Southeast Asia's International Production Networks: Implications For Macroeconomic Stability, Abigail Eliana Zwick Jan 2013

Southeast Asia's International Production Networks: Implications For Macroeconomic Stability, Abigail Eliana Zwick

Senior Projects Spring 2013

Using the case of five Southeast Asian countries - Indonesia, Malaysia, Thailand, Singapore, and the Philippines - this paper examines the relationship between participation in international production networks and the volatility of export values in small, open developing economies. The region’s growth has been driven by the electronics and automotive industries over the past two decades, industries that rely on a system of intra-regional intermediate goods trade. While these countries diversified out of the agricultural industries in part to reduce volatility, there is evidence that they face new volatility risks in the new industries, as a result of dependence on …