Economic History Commons^™

Monitoring The Philippine Economy State Of The Economy Report, Mitzie Irene P. Conchada, Lawrence B. Dacuycuy, Jesus Felipe, Desher Edgar Empeño, Brendan Emmanuel A. Miranda

Angelo King Institute for Economic and Business Studies (AKI)

The Philippine economy recovered from the COVID-19 pandemic during 2022. It posted a very high annual growth rate, 7.6%, although this must be understood in the context of a low base. AKI’s State of the Economy Report focuses on three issues in the context of the new Administration’s 8-Point Socioeconomic Agenda and the Philippine Development Plan 2023-2028: growth, inflation, and the fiscal deficit and national debt. Overall, we have a positive view of the economy over the medium and long-term. However, we argue that:

-The focus of economic policy has to shift decisively toward changing the structure of the economy …

Liquid Border, Yingfan Jia

Masters Theses

A River is a mighty and constantly-evolving force, leaving behind an intricately designed and constantly changing system. Not just a river, the Rio Grande stretches all the way from Colorado before intersecting with the US-Mexico Border in southern Texas - a point where the powerful forces of nature now merge with a clearly-defined political boundary. The outcome of this is a unique ecological niche, which may often go unnoticed despite its distinctiveness.

Texas is famous for its farms and ranches, and the Rio Grande Valley of South Texas was once an agricultural hub. However, urbanization and the depletion of water …

National Debt And The Misleading Family Metaphor: A Message To The Economic Managers And Journalists, Jesus Felipe

Angelo King Institute for Economic and Business Studies (AKI)

A recent article in the prestigious British newspaper, The Guardian (“Bad economics at the BBC enabled Tory austerity and its aftermath — and it knows as much,” James Meadway, January 31, 2023), claimed that bad economics by the British Broadcasting Co. (BBC), the reputable British television company, enabled Tory austerity and its aftermath. A BBC internal review noted that too many journalists don’t get “basic economics,” with a negative effect on U.K. politics. The review refers to taxation, public spending, government borrowing, and debt output. Poor information is particularly serious when it comes to reporting on the central political issue …

Chinese Political Rhetoric And Ideology: Tension And Pretension, Israel Paredes

Honors Theses

This changing nature of the Chinese government’s ideology leads one to believe that its core beliefs are not dogmatic, despite the foundation for their ideology being rooted in specific societal and economic theories. Starting with Mao Zedong to modern day, the Chinese government officials will continue to support the original tenets (and, no doubt, future presidents’ additions to the tenets). However, the interpretation of their ideology over time is fluid and is used to support policies and actions during a political cycle. Chinese political leaders are unlikely to disagree with a past leaders, and will rather use their own interpretation …

Understanding Romania's Poverty: A Historical Overview Of Economics And Politics And Their Implications On Poverty Today, Benjamin Bucur

Senior Honors Theses

Romania is a country with a high-income economy that is experiencing considerable growth following its economic reforms of earlier decades. With growth, tendencies for an unequal society are prevalent. Therefore, appropriate economic policies that are specifically targeted toward bottlenecks are essential. This thesis seeks to outline the major types of poverty in Romania while also offering actionable entrepreneurial and educational insights that practically combat poverty at its roots.

U.S. Energy Information Administration Information Resources, Bert Chapman

Libraries Faculty and Staff Presentations

Provides information about the resources produced by U.S. Department of Energy's Energy Information Administration. These resources cover energy statistics for U.S., states, the United States, and foreign countries. They also cover energy products as varied as coal, natural gas, nuclear energy, petroleum, and renewable energy.

Adam Smith And The Creative Role Of Imagination, Keith Hankins, Brennan Mcdavid

Philosophy Faculty Books and Book Chapters

That imagination plays a fundamental role in Smith’s accounts of both sympathy and scientific inquiry is well documented. Smith scholars have also long recognized that the accounts of these roles presented in The Theory of Moral Sentiments and the History of Astronomy are broadly Humean. In particular, the exercise of imagination in both the social and scientific domains is limited by the extent of our experience. Whether we are “changing places in fancy” with our fellows, thereby giving rise to that all-important sentiment of sympathy, or conjecturing relations between observed phenomena in an effort to quell the sentiments of wonder …

Three Essays On Political Economy, Colin Michael Steitz

Graduate Theses, Dissertations, and Problem Reports (ETD)

The first chapter studies the impact of conventions and multi-day events on
hotel demand in the Indianapolis metro area. Using hand-collected data on
sporting events and conventions, we study the impact on hotel metrics: ADR,
Occupancy, Daily Rate, and Revenue. We show that traditional sporting
events generate little impact when compared to multi-day conventions. We
show that mega-events such as major championship games generate significant
increases in hotel demand. We find large and statistically significant effects for
multi-day conventions on hotel demand with very little evidence of crowding
out. A single day of a multi-day convention brings in approximately $928,000 …

The Labor Share In The Post-1980 Economy: An Analysis Of The Contributing Factors, Mia Bellucci

Honors Theses

During the Neoliberal period, which roughly began in the early 1980s in the U.S., there was a substantial slowdown in the growth rate of real hourly compensation, while productivity had continued to grow. The last two decades of the Neoliberal period (2000 – 2020) also experienced somewhat of a substantial decline in the labor share. In recent decades, there has been a growing amount of literature attempting to explain the major factors that have contributed to these recent labor market developments. This study provides a means of investigating the changes in the labor share and its components (i.e., real hourly …

A Qualitative Study On The Financial Education Of Young Black Men, Sue M. May

University of the Pacific Theses and Dissertations

Financial literacy awareness is low among young adults, and financial literacy among Black college students is significantly lower than in other groups (Singh, 2018). However, there is little to no research on why financial literacy is so low among young Black men between 18 and 25. Few studies specifically show how financial literacy and decision-making may be related to their family economics and socialization for young Black men. Using Critical Race Theory and Family Financial Socialization theoretical frameworks, this dissertation project examined a sample of seven young self-identified Black men ages 24 to 25 years old in Northern California Bay …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review: An Interdisciplinary Journal Written and Peer-Reviewed by Mandel Honors College Students at Cleveland State University

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

While Waiting For Rain: Community, Economy, And Law In A Time Of Change, John Henry Schlegel

Books

What might a sensible community choose to do if its economy has fallen apart and becoming a ghost town is not an acceptable option? Unfortunately, answers to this question have long been measured against an implicit standard: the postwar economy of the 1950s. After showing why that economy provides an implausible standard—made possible by the lack of economic competition from the European and Asian countries, winners or losers, touched by the war—John Henry Schlegel attempts to answer the question of what to do.

While Waiting for Rain first examines the economic history of the United States as well as that …

Free Market: The History Of An Idea. By Jacob Soll. Basic Books, 2022. 326 Pp, Index. $32., James K. Galbraith

Emancipations: A Journal of Critical Social Analysis

Review of Free Market: The History of an Idea. Jacob Soll. New York, Basic Books, 2022. 326 pp.

The Euro And Bumps In The Road: Historical Patterns Of Nonresident Holdings In Eurozone Bonds, 1980–2018, Michael H. Scarlatos

Dissertations, Theses, and Capstone Projects

A developed bond market which attracts nonresident investors both enables and reflects a host currency’s transition from domestic to international status. My analysis of historical private nonresident holdings of Eurozone portfolio debt securities spanning the euro’s 1999 creation and its subsequent 2008 crisis reveals diverging patterns.

This analysis, complemented by coefficient stability tests, discovers that the conversion of national currencies to the euro was reflected by a pickup in nonresident holdings of bonds issued by countries adopting the euro, especially those of the periphery (Portugal, Ireland, Italy and Spain) relative to the core (Germany, Austria, Belgium, Finland, France, and the …

Medicaid Expansion: Changes In Individual Health Outcomes, Julie Norman

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The Affordable Care Act is one of the biggest changes in the American healthcare system in the 21st century. One element of the ACA is medicaid expansion, which opened up federal funding for states to cover any individual earning below 138% of the federal poverty line. 21 states expanded medicaid in 2014 while 12 haven’t expanded. This paper utilizes the disparity for a natural experiment to determine the efficacy of the program. Outcome variables of interest include measurements of individual health, health access and utilization, and premature death rates. The results indicate positive, but small improvements due to the policy, …

Inaccessible Interpolated Imagery: How Coffee Farmers In The State Of Chiapas Might Access Political Economic Opportunity Through Representation, Paolo Fiann Bicchieri

Master's Theses

Here is a useful parable to boil down the idea of this project and set the tone: when one goes to the bar to tell a story about a fight at the bar, they would never venture to place themselves as the hero of the brawl, taking out three drunkards in a single punch, unless they were really in the bar, at that time, fighting a good fight. One would never do this as the bartender, locals, and regulars would all know if this were the case or not. Yet transnational corporations, governments, and even consumers do this all the …

Reforming The United States’ Currency Production, William Cather

Departmental Honors & Graduate Capstone Projects

Since the 1980s, the debate about the one-cent piece’s production and use has been discussed throughout relatively recent Congressional history; and has involved economic, financial, industry-based, as well as numismatic groups to weigh in on the topic. The question arises: Why have other countries successfully changed their lower-denomination currency and converted their economic system into one that incorporates cash-rounding while the United States has struggled to do so?

By observing international examples of the obsoletion of low-denomination coinage and the implementation of cash-rounding, the proposed economic and financial reform has proved to work as an economically-sound alternative to the current …

The Shirt Of Nessus: International Debt As A Tool Of Hegemonic Control, Omar Hamed Ghannam

Theses and Dissertations

International debt has been a fixture of the global economy and state financing for centuries. The economic logic of accruing international debt and its management is rarely questioned in the literature, even as sovereign debt crises abound. These crises offer a point of examination, re-assessment, and negotiations concerning allocating the burdens. This paper aims to study these debt crises to interrogate the issue of international debt, the depoliticized economic mantras that govern it, their validity, sincerity, and the political and social implications on the indebted polity. This is done by looking at the origins of debt crises, and examining how …

Reinventing Opportunities For Argentina: Vista Oil And Gas, Emiliano Cabrera

Dartmouth College Master’s Theses

In the last century, Argentina faced an astonishing economic downturn that remains until today, frustrating all who learn its economic history, explore the country's potential, and stay in tune with its political-economic present. This research examines Argentina's economic history, revises the main drivers that signed its economic drama, and proposes guidelines to address new opportunities by encouraging its private sector. By using Vista Oil and Gas as an exemplary case, this work proposes Vista's business model as an initiative perfectly compatible with the primary macroeconomic needs that Argentina currently has that should be highly considered for developing its private sector. …

The Leveling Spirit: Violence And Inequality In Postwar Iraq, Griffin Perrault

Honors Theses

The Iraq War (2003–2011) constitutes by some estimates one of the deadliest and most destructive conflicts of the 21st century (Hagopian et al., 2013). In addition to the disputed figures of excess violent civilian casualties––generally ranging from 180,000 to 210,000 deaths––the war has created one of the major refugee crises of modern times, with 1 in 25 Iraqis estimated to have been displaced from their homes by the 2003 invasion (Costs of War, 2021). While much of this violence has been wrought by American and Iraqi coalition troops, violence against civilians has also been perpetuated by insurgent groups and paramilitary …

Where Girls Rule The World: Lessons For Pakistan In The Bangladeshi Educational Phenomenon, Chanze Ahsan

Honors Theses

In tune with the UN's Sustainable Development Goal and the widespread acceptance of education as a fundamental human right, the deprivation of female education in Pakistan presents an alarming assault on its female population. With this, the historical accident that was the separation of Pakistan and Bangladesh serves as a natural experiment into differences between the countries before and after partition. Despite facing two colonizations, Bangladesh has emerged on the other side of history with promising results regarding the elimination of gender disparities in education. How has it managed to do so? And what can Pakistan learn from its journey? …

Economic Propaganda In The United States, Brooklyn Montgomery

CMC Senior Theses

This thesis aims to identify and analyze three different forms of economic propaganda: cultural, structural, and political. I first examine ‘Do What You Love’ culture and its impact on the labor force. Chapter Two explores the propagation of neoliberal economics as an objective study, and the final chapter analyzes the use of Black capitalism as a political mechanism to quell Black radical sentiment. In detailing these phenomenons, I investigate the implementation, normalization, and effects, as well as the material repercussions of these ideas and structures.

Lessons Learned: Phillip Swagel, Yasemin Esmen

Journal of Financial Crises

Phillip Swagel was Assistant Secretary for Economic Policy at the U.S. Treasury between 2006 and 2009. During this time, he advised Treasury Secretary Hank Paulson as his chief economist, served as a member of the TARP Investment Committee, and played an important part in the conservatorship of Fannie Mae and Freddie Mac. This “Lessons Learned” is based on a phone interview with Mr. Swagel.

Bank Assets Management Company (Bamc), Alexander Nye

Journal of Financial Crises

Slovenia weathered the initial shock of the Global Financial Crisis (GFC) of 2008 well enough to return to growth in 2010. However, non-performing loans continued mounting, banks experienced significant losses, and credit growth turned negative in a credit crunch. Slovenia entered a recession in 2011, experiencing the second largest GDP decline in the euro area. It was not certain whether Slovenia had the fiscal space to resolve these problems without requesting a Troika bailout from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF). In late 2012 the government tried to prevent such a program by …

The Effect Of State Level Covid-19 Stay-At-Home Orders On Death Rates, Stephen A. Langeland, Jose Marte, Kyle Connif

Helm's School of Government Conference - 2021-2024

This paper attempts to examine a correlation between lockdown length and COVID-19 case rate, death rate and fatality rate. In March of 2020, the publishing of alarmist epidemiological models prompted government officials to enact sweeping emergency measures (Miltimore 2020). Notably, the Imperial College London model published by epidemiologist Neil Ferguson predicted a “best-case scenario” of 1.1 million COVID-19 deaths in the U.S. by August 2020. This model heightened concern that the hospital system would be overwhelmed, a reason cited by President Trump’s Coronavirus Task Force members, Dr. Birx and Dr. Fauci, as justification for the “15 Days to Flatten the …

An Inferentially Robust Look At Two Competing Explanations For The Surge In Unauthorized Migration From Central America, Nick Santos

Dissertations

The last 8 years have seen a dramatic increase in the flow of Central American apprehensions by the U.S. Border Patrol. Explanations for this surge in apprehensions have been split between two leading hypotheses. Most academic scholars, immigrant advocates, progressive media outlets, and human rights organizations identify poverty and violence (the Poverty and Violence Hypothesis) in Central America as the primary triggers responsible. In contrast, while most government officials, conservative think tanks, and the agencies that work in the immigration and border enforcement realm admit poverty and violence may underlie some decisions to migrate, they instead blame lax U.S. immigration …

The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi

Journal of New Finance

Inspired by conspicuous historical parallels, some scholars and journalists have recently postulated that GDP growth and productivity might boom in the aftermath of the Covid-19 pandemic. This paper reviews the evidence for and against the ‘Roaring 20s’ hypothesis, concluding that some countries might experience a forceful economic expansion, possibly fuelled by pent-up demand, compounding a successful digital and green transition, or leveraging an export-led model. However, a strong prolonged economic bonanza is unlikely to materialise evenly across the EU. An uneven recovery would acquiesce imbalances within the Union, and especially the euro area. As such, policymakers should avoid complacency, and …

Lessons Learned: Alejandro Latorre, Maryann Haggerty

Journal of Financial Crises

At the time of the 2007-09 global financial crisis, Alejandro Latorre was an assistant vice president at the Federal Reserve Bank of New York (FRBNY). He was active in the bailout of American International Group (AIG) from its inception to the end, when AIG repaid its outstanding obligations to both the Federal Reserve and the U.S. Treasury. This Lessons Learned summary is based on a Feb. 26, 2020, interview. He emphasized that the views discussed here are his own, not the views of anyone else currently or previously within the Federal Reserve System or the views of his current employer.

Lessons Learned: Chester B. Feldberg, Maryann Haggerty

Journal of Financial Crises

Chester B. Feldberg worked for the Federal Reserve Bank of New York (FRBNY) for 36 years in a variety of roles. In the aftermath of the Global Financial Crisis, he served as a trustee for the AIG Credit Trust Facility (2009-2011). The trust was established in early 2009 to hold the equity stock of American International Group Inc. (AIG) that the U.S. government had received as a result of the 2008 AIG bailout. The three trustees were responsible for voting the stock, ensuring satisfactory corporate governance at AIG, and eventually disposing of the stock.

When he was named as a …

The Rescue Of Fannie Mae And Freddie Mac – Module Z: Overview, Rosalind Z. Wiggins, Ben Henken, Adam Kulam, Daniel Thompson, Andrew Metrick

Journal of Financial Crises

In September 2008, as the financial crisis that had begun the previous year escalated, the US government appointed a conservator for two government-sponsored enterprises (GSEs), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), that dominated the secondary mortgage market and were among the largest participants in the global capital markets. The conservatorships were the hallmark of a multipart rescue plan intended to save the firms from insolvency and a disorderly collapse and required the combined and coordinated efforts of several government agencies and instrumentalities. Ultimately, the government invested $191.5 billion into the …