International Economics Commons^™

El Último Acuerdo Con El Fmi Durante El Gobierno De Mauricio Macri: El Impacto De La Deuda Externa En La Soberanía Según Los Actores Políticos Y Sociales De La Argentina / The Latest Agreement With The Imf Under The Government Of Mauricio Macri: The Impact Of Foreign Debt On The Sovereignty Of Argentina According To Social And Political Actors, Sarah Schubert

Independent Study Project (ISP) Collection

Nobel laureate in economics, Simon Kuznets, allegedly commented “There are four kinds of countries in the world: developed countries, underdeveloped countries, Japan, and Argentina” (Reyes & Sawyer, 2019). Since the mid twentieth century, Argentina has stood out due to the complexity of its ever changing economic and political orientations. Initially recognized as a growing nation with a booming economy, Argentina soon fell victim to macroeconomic instability. Inflation, growing deficits and most notably the assumption of foreign debt have plagued the country’s economy. Known for their tumultuous relationship with the International Monetary Fund, Argentina came to declare the largest sovereign default …

Essays On The Economic Consequences Of Capital Controls, Richard J. Nugent Iii

Dissertations, Theses, and Capstone Projects

This dissertation consists of three chapters. In Chapter One, we review the literature on the economic consequences of capital controls. Capital controls are advocated as second-best policy in the presence of a pecuniary externality. Restricting capital inflows as a prudential tool during economic booms may distort the efficient allocation of capital but it invokes precautionary saving behavior so that agents do not overborrow. The financial crises that are fueled by capital market distortions can be mitigated by the use of prudential capital controls, heightened during the boom and released during the bust. The empirical evidence on capital controls has revealed …

The Oppressive Pressures Of Globalization And Neoliberalism On Mexican Maquiladora Garment Workers, Jenna Demeter

Pursuit - The Journal of Undergraduate Research at The University of Tennessee

The international economic trends of globalization and neoliberalism have exposed and enabled the exploitation of Mexican workers, especially women in the maquiladora garment industry. During the 1950s, globalization gave rise to the new international division of labor and transnational corporations (TNCs) that have offshored labor-intensive phases of production to developing countries, many of which have pursued export-led industrialization. Export processing in Mexico was encouraged in the 1960s by Item 807 of the U.S. Tariff Code and Mexico’s Border Industrialization Program. Especially following the Latin American debt crisis of the 1980s, advanced capitalist countries and International Financial Institutions foisted neoliberal structural …

International Welfare Spillovers Of National Pension Schemes, James Staveley-O'Carroll, Olena Staveley-O'Carroll

Economics Department Working Papers

We employ a two-country overlapping-generations model to explore the international dimension of household portfolio choices induced by the asymmetric provision of government-run pensions. We study the resulting patterns of risk-sharing and the corresponding welfare effects on both home and foreign agents. Introducing the defined benefits pay-as-you-go system at home increases the welfare of all other agents at the expense of the home workers and improves the degree of intergenerational risk sharing abroad. Conversely, a defined contributions system leads to welfare losses of both home cohorts accompanied by gains abroad, but does increase the extent of intergenerational risk sharing at home.

Labor Market Policies And Women’S Labor Market Activity In The United States And Germany, Brianna Repke

Senior Honors Projects

In terms of per capita Gross Domestic Product (GDP) and many other measures, the United States and Germany are both economic leaders in the global world. However, gender gaps persist in the labor markets of both countries. This paper examines these gender gaps and various labor market policies that are intended to reduce them. The policies examined include gender equality policies and family-oriented policies in the two countries. Over the last few decades, most of the OECD (Organisation for Economic Co-operation and Development) countries have experienced low and decreasing birth rates. In response, several countries have introduced parental leave regulations …

Essays On Convex Weighting For Global Vector Autoregressive Models, Garrison Leach

Economics Theses and Dissertations

This dissertation focuses on studying the impact that weighting schemes can have on forecasting performance and dynamic analysis in global vector autoregressive (GVAR) models. The first chapter discusses an existing gap in the literature regarding weighting scheme choice and develops a simple, yet powerful method for defining richer spatial linkages in a way that doesn’t sacrifice economic context. The new technique called convex weighting, extends the set of available options for defining spatial linkages in models that handle the curse of dimensionality via compression and offers a justifiable approach to alleviating uncertainty. The second and third chapters apply the newly …

Empirical Analysis Of China’S Exchange Rate And Macroeconomic Policy, Jia Ji

Dissertations, Theses, and Capstone Projects

This dissertation examines the effects of exchange rate and macroeconomic policy in China. It consists of three chapters. Chapter 1 explores the dynamics of monetary transmission mechanism. As China’s domestic financial markets deepen and develop further toward a market-based system, the country’s monetary policy transmission should continue to improve in the sense that the policy instrument’s influence on economic conditions increases in magnitude and stabilized across time. Using a short-term key interest rate as a standard monetary policy tool and time-varying parameter techniques, this study empirically demonstrates that China’s monetary policy framework is in the midst of transitioning to a …

A Cge-Model Analysis Of U.S. Imposed Automotive Tariffs, Angela Li

Undergraduate Economic Review

Using a computable generable equilibrium (CGE) model, this research paper evaluates the effects of a U.S. imposed 25% automotive import tariff on NAFTA countries and the European Union, the greatest U.S. automotive trade partners. Three simulations were conducted: the implementation of tariffs with no retaliation, equivalent retaliation on the same products, and retaliation on the top exports of politically significant states, with sensitivity analysis applied in the final scenario. The results demonstrate that the EU is marginally affected while the NAFTA countries experience the greatest increases in prices and reduction in total wages.

Celtic Tiger Ireland As A Case Study In The Practical Application Of Neoliberal Economic Policy, Natalie Sneed

Honors Program: Senior Projects (Public)

The Celtic Tiger economic boom, which occurred in Ireland from approximately 1987 to 2009 has generally been considered one of the most remarkable economic turnarounds in any country in the modern era. My purpose in this project was to identify the primary causes and effects of such rapid and dramatic economic growth and development to determine whether it is sensible for other countries emerging from colonial rule to seek to emulate the Irish economic model. Through a review of the economic literature on the Irish economy in the last three decades, I identify Ireland’s implementation of a neoliberal economic policy …

Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

The Effect Of Outward Foreign Direct Investment On Exports In Japan During The Lost Decade, 1985-2005, Alexandros Ladas

Dissertations and Theses

This study will utilize an OLS analysis of the panel data coming from various databases such as the World Bank, Federal Reserve and etc. to determine if there exists a significant correlation between the exports of Japan and its foreign direct investment (FDI) in the period of 1985-2005 with nearby trading partners of which include the countries of ASEAN, China and South Korea. In addition, a selection of supplemental factors will be used to determine if they also possess any significance with exports. These factors include: the exchange rate of the Japanese yen with the currency of the trading partner …

Essays On Capital Structure Of Nations, Giovanni Perez

LSU New Orleans Theses and Dissertations

No abstract provided.

International Risk Sharing In Overlapping Generations Models, James Staveley-O'Carroll, Olena M. Staveley-O'Carroll

Economics Department Working Papers

We present a solution to the Backus-Smith puzzle that, instead of relying on extreme parameter values or complex modeling assumptions, simply switches the framework from infinitely lived agents to overlapping generations. Young agents face non-diversifiable wage risk that leads to a low degree of risk sharing within each country. Subsequently, international price movements are not sufficient to achieve the high consumption-real exchange rate correlation produced in standard infinitely lived agent DSGE models.

Free Trade And Corporate Social Responsibility: Ethical Dilemmas In Global Economic Development, Sarah Papion

Capstone Projects and Master's Theses

Through the lens of the free-trade-optimist, it is black and white: corporations bring jobs, and jobs equal a happy and healthy economy. A major oversight in this neoliberal Utopian ideology is that corporations are not in the business of building communities, nor do they have an interest in keeping their operations stationary enough to allow economic growth to occur over a span of years. Corporations abandon communities as quickly as they arrive to find their next cheap labor hub. Quite contradictory to the original purpose of free trade, economic growth in Free Trade Zones is not long term or secure. …

Foreign Capital Inflows And Economic Well-Being: A Statistical Analysis Of 46 Sub-Saharan African Countries From 1995-2015, Alexander M. Csanadi

Undergraduate Economic Review

Variation in the economic well-being among sub-Saharan African countries is among the highest of any region in the world. This paper attempts to address this disparity by exploring the role of foreign capital inflows. This project extends the concept of well-being beyond GDP growth, to include measures of poverty and inequality. A multivariate regression analysis finds that the observed capital inflows have significant effects on all three measurements of well-being. Findings suggest that the level of affluence of the domestic population has significant effects on the ability of those populations to translate diaspora remittances into improvements in well-being.

Nonlinearities In The Real Exchange Rates: New Evidence From Developed And Developing Countries, Yamin S. Ahmad, Ming Chien Lo, Olena M. Staveley-O'Carroll

Economics Department Working Papers

This paper investigates nonlinearities in the dynamics of real exchange rates. We use Monte Carlo simulations to establish the size properties of the Teräsvirta-Anderson (1992) and the Teräsvirta (1994) test, when the dynamics of the real exchange rate is influenced by an exogenous process. In addition, we examine the modification proposed by Ahmad, Lo and Mykhaylova (2013; Journal of International Economics) to show that the modified nonlinearity test performs much better than the original in both Monte Carlo exercises and in the actual data on 1431 bilateral real exchange rate series. Finally, we investigate the dynamics of the real exchange …

An Essay On Fiscal Policy Transmissions In Currency Union, Nikhil Damodaran

LSU Doctoral Dissertations

The effect of changes in fiscal policy for open economies are distinct and different from their effects in closed economies. The main idea behiend this dissertation is to examine why and how these differences affect the choice of fiscal instrument designed to provide stimulative effects to an open economy in a currency union. In extending a two country model and adapting it to examine trade within a currency union, I provide a way to truncate rational expectations equilibrium involving two large countries with endogenous relative price determination in chapter three. Using this model, I show that a spending increase is …

The Economic Impacts Of A U.S. Withdrawal From Nafta: A Cge Analysis, Jonathan Liu

Undergraduate Economic Review

The aim of this study is to examine the economic impacts of a U.S. withdrawal from the North American Free Trade Agreement (NAFTA) on Canada, Mexico and the United States. The shocks simulate scenarios in which the U.S instates penalizing tariff rates on NAFTA countries, a trade war between NAFTA members and a tariff reset to the WTO MFN rates. The effects of these tariff structures are analyzed under the framework of a computable general equilibrium (CGE) model with a focus on macroeconomic variables and welfare. The findings show that, in all iterations, Mexico’s economy takes a substantial hit, America’s …

The Significance Of Mongolia's Foreign Policy And Security Apparatus On A Global And Regional Scale, Bolor Lkhaajav

Master's Projects and Capstones

Mongolia, land-locked between two politically, economically, and militarily powerful nations — Russia and China — often must balance its foreign and security policies with its two neighbors and countries beyond. When discussing Mongolia’s foreign policy and security apparatus, historians and scholars look at the international relations of East Asia as a whole. This is the case not because Mongolia’s foreign policy is insignificant but because greater powers impose greater influence on smaller states. Mongolia’s partial involvement in World War II (WWII), and the Cold War introduced new challenges as well as opportunities for Mongolia to modernize its foreign policy principles …

Institutional Quality And Illicit Financial Flows In Developing And Developed Countries: An Empirical Assessment, Zin Kyaw Lin

Theses and Dissertations

This paper investigates the direct linkage between institutional quality and illicit financial flows (IFFs) of 47 developing and developed countries from the period of 2005 to 2014. Corruption and political stability are found to be correlated to the IFFs.

Literacy Rates Analysis: An International Comparison, Macarena Arce

Economics Undergraduate Honors Theses

This paper attempts to provide a more complete reckoning of the economics of literacy rates around the world. It consists on a literature review about the economic benefits and costs of literacy rates and then it shows two econometrics models that attempt to predict literacy rates based on GDP, government expenditure, and several other independent variables.

Aiding To Repair: An Analysis On The Impact Of Foreign Aid In Rwanda After The 1994 Genocide, Mary Atta-Dakwa

International Relations Honors Papers

Between April 1994 to July 1994, about 1 million Hutus and Tutsis were murdered in the Rwandan genocide. The genocide not only severely declined the population of Rwandans, but largely impacted its infrastructure, government, and economy. After the genocide, about $15 billion US dollars was sent to provide humanitarian aid. Post-genocide Rwanda has seen a significant growth in its economy; however, speculators may question if the economic growth is attributed to the foreign aid it received after the 1994 genocide. This paper seeks to examine the impact of foreign aid on post-war reconstruction on Rwanda as a case study.

Planning To Fail: The Eurozone, Its Sovereign Debt Crisis, And The Future Of The Union, Kyle Whitworth

Theses

The European Union has been one of the greatest accomplishments of modern history. Through economic and political integration has ended centuries of warfare on the continent while producing the worlds largest trading bloc. Despite the initial success of the monetary union and its single currency, the Union has been bogged down economic troubles in the form of a debt crisis among several of the member states. The recovery period of the crisis has produced growth that is slow and uneven. Countries such as Germany has assumed the role of the economic powerhouse of Europe and therefore a political leader in …

Making The Grade: The Contribution Of Education Expenditure To Economic Growth, Neil Frank

Undergraduate Economic Review

Does education expenditure promote long-run economic growth? Empirical evidence is inconclusive. This paper addresses the question of how education expenditure influences economic growth using a long run growth accounting model analyzing 179 countries from 1970 to 2014. Overall, the results indicate that education expenditure does positively affect growth. However, when the sample is split into different criteria based on economic prosperity of the countries in question, the results change. In non-oil countries education expenditure increases economic growth, in developing countries education expenditure has a negative impact and in OECD countries the impact is non-significant.

Entrepreneurship Education Empowers Youth To Change Their Lives, Marianna Brashear, Jason Riddle

National Youth Advocacy & Resilience Conference

The Foundation for Economic Education (FEE) aims at equipping Title 1 schools with free, hands-on, engaging materials that any teacher can facilitate either individually or in a classroom setting with no background in entrepreneurship necessary. These versatile lessons, courses, and workshops teach the entrepreneurial mindset optimizing opportunities for grades 8-12 students no matter which life/career path they choose.

Bayesian State Space Representation Model: Applications To Macroeconomics And International Finance, Hiroshi Morita

Dissertations, Theses, and Capstone Projects

This dissertation develops three new econometric models using Bayesian state space representation model in order to apply to macroeconomics and international finance. It consists of 3 chapters. Chapter 1 develops a Markov mixture model of macroeconomic fundamentals to analyze the short-run dynamics of foreign exchange rates. In our model, foreign exchange rates are simultaneously determined by three parities: the interest rate parity, the inflation rate parity, and the equity return rate parity. Using four exchange rates: the U.S. dollar price of the British pound, the German mark, the Japanese yen, and the Canadian dollar, the findings are: (1) Our model …

Three Essays On Exchange Rate And Capital Controls, Yaorong Lou

Theses and Dissertations--Economics

This dissertation consists of essays that study exchange rate pass-through, China’s de facto exchange rate regime, and China’s capital controls.

The first essay studies exchange rate pass-through (ERPT) by using a set of data from ten countries including four advanced economies and six Asian emerging markets. The price indices used in this essay include consumer price, producer price, import price and export price indices. While most literature only include the import price index, this essay also puts emphasis on the export price index. It investigates the asymmetry in the ERPT between depreciation and appreciation of domestic currency by using a …

The Role Of Conflict In Sub-Saharan Africa, Samy Lemos

CMC Senior Theses

Sub-Saharan Africa is the provider of many critical natural resources. With such resources, one would expect these countries to have thriving economies. Why is the opposite case true? To answer such a question, this paper examines a few critical causes that may justify the current economic situation these African countries are experiencing. Specifically, the paper observes the economic impact of civil war and terrorist conflict in sub-Saharan Africa from 1971 to 2016. To explore the changes in GDP per capita for all these years, this thesis sheds light on three independent variables: year of conflict, education level, and foreign direct …

Why Not Mexico? Policy Recommendations For A Globally-Oriented Economic Strategy, Víctor Manuel Hernández-Rodríguez

CMC Senior Theses

Mexico, one of the world’s largest economies and an increasingly relevant actor in international affairs, is at a crucial point in defining its future policy course. Given the uncertainty surrounding the global economy, as well as the political situation in Mexico, it is important to have a clear vision for policy going forward. This thesis offers a foundation for a national economic strategy with a long-term vision, upon which future administrations can build as appropriate to maximize on the country’s economic potential. The task is undertaken through a three-part approach. First, a thorough and analytical overview of the country’s economic …

Essays On The Impact Of Exchange Rate Movements On Stock Return And Country Output, Junnan Zhao

Dissertations, Theses, and Capstone Projects

Exchange rate movements are widely believed to be a major source of uncertainty at both micro- and macro-economic levels. At the microeconomic level, corporate managers controlling risk and investors seeking to hedge their portfolios are both obviously interested in estimates of a firm’s exchange rate exposure ̶ i.e., how much of the value of a firm will be affected by exchange rate movements. At the macroeconomic level, a currency appreciation may have a contractionary effect on a country's output.

Chapter 1 tests whether the launch of the euro around 1999 significantly reduced stock market volatility and exchange rate risk exposure …