International Economics Commons^™

The Impact Of An Economic Recession On Etf Sectors: Which Etf Sectors Are Most Recession-Proof?, Salvatore Galbo

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates which ETF sectors are most recession-proof by focusing on sector performance and finding the possibility of a positive or negative correlation between specific sectors and the overall market performance during such recessionary times. The study compares the percentage gain or loss by each ETF sector with regression analysis to determine which sectors perform better than the overall market performance during an economic downturn. The study incorporates the most recent recession and the recession during 2001, when the technology bubble burst occurred, to find any relevance and/or consistency in my study. The results show that out of all …

Labor Productivity, Inflation, And Unemployment's Relationship With Wage Formation In The United States, Peter Longhi

Empirical Economic Bulletin, An Undergraduate Journal

This paper discusses unemployment, labor productivity and inflation’s effect on wage formation in the United States. This paper looks at a very well researched topic of wage formations relation to unemployment and labor productivity to see if there is a long term homogenous relationship between the wage levels and the dependent variables. By using quarterly data from 1996 to 2009, I will attempt to observe if wages are following the classical theoretical relationship in the United States. The specified time period will allow us to observe a distinct boom and bust in the economy. I expect to find a long …

What Drives The United States Housing Starts, Myles Ojala

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the determinants of new housing starts within the United States. Using recent monthly data, this study will consider factors such as residential building permits, long and short-term mortgage rates, savings rates, and mortgage availability, to show how each of these variables influence the U.S housing market in the form of residential housing starts. Using a VAR model, this paper will show the impact that the vector variables have on each other, and especially, housing starts. By using a split set of data, this paper will also show the impact of the vector variables on housing starts during …

Factors Effecting Gdp Growth In Member States Of The European Union, Kris Mortimer

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the GDP growth in member states of the European Union from 1978 until 2007. As most people are well aware of, GDP is calculated by the sum of consumption, government expenditure, investment, and net exports. The research conducted for this paper intends to discover what other variables have affected GDP growth in the past 30 years. The variables used in this paper include the public expenditure on education, total population, inflation, percentage of population who are adolescents (0-14), adults (15-64), or elderly (65+). Today there are twenty-seven member states in the Union from which I have compiled …

An Analysis Of Gender Based Wage Differential Among Teachers In The United States, Kendal Glen Cehanowicz

Empirical Economic Bulletin, An Undergraduate Journal

Do teachers with similar experience and age but different genders earn the same income? This study investigates the income of teachers relative to their age, education, experience, race and gender. Studies have shown that inequality in the gender wage gap is a trend which closed for almost two decades, but has recently widened again. This study identifies a specific line of work where injustice can be seen and aims to bring this knowledge to light. The Current Population Survey (CPS) data set from 2005-2009 will be used for this study. This study finds empirical evidence that gender differences do in …

Determinants Of Savings In Latin American Countries, Jamie Walker

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the determinants of the Savings per capita in Latin American Countries during the years 2002 to 2005 and their significance. Using these years provides a look at how the Latin American Countries emerged from an inflation prone society in the 1990’s to a diverse economic body according to Hernan Buchi the former finance minister of Chile. The study takes several models and applies them towards the Latin American Countries of Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Dominican Republic, Guatemala, Honduras, Mexico, Panama, Peru, Uruguay, and Venezuela. The study will use macro-level data to determine which of …

The Correlation Of Monetary Policy, Inflation And Stock Returns During Periods Of Inflation And Deflation, Jason Megaro

Empirical Economic Bulletin, An Undergraduate Journal

This paper examines the debated issue of the existence of a relationship between a country’s monetary policy and the relative stock market and stock returns. Specifically, the paper examines the affect and correlation of overnight interest rate (known as federal funds rate in U.S.), inflationary rate and stock returns on and with each other, respectively, during periods of inflation and deflation. The deflationary period investigated is the period of deflation in Japan and the inflationary period examined is over the last decade in the United States. The analysis is performed using multivariate VAR/VEC co-integrating specifications to supplement the results from …

Determinants Of Teen Pregnancy: An Empirical Assessment Of Oecd Countries, Maxine Pamela Outerbridge

Empirical Economic Bulletin, An Undergraduate Journal

This research paper investigates the determinants of teen pregnancy to uncover potential correlations among several social and economic factors. The study incorporates empirical data into a multivariate linear regression model to examine the impact of various socioeconomic variables such as education, income, health expenditure, abortion rates, and derive a comparison of the status of teen pregnancies among OECD countries. This study expands earlier research that concentrated on several of the most developed nations by emphasizing the socioeconomic status of women throughout the OECD members and uncovering the significance of governmental initiatives to improve such status. This study also aims to …

The Determinants Of Foreign Direct Investment: Evidence From Latin America And The Caribbean, Nicholas Colongeli

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates the impact of determinants on the inflows of FDI to the Latin American and Caribbean region. The study incorporates cross-country information to describe incentives influencing flows of FDI into the region from 1992 - 2008. Factors are modeled using a least-squared regression model and are determined as significant. The results from the research and tests performed emphasize the correlation between specific economic indicators and flows of FDI. Using macro – level data from various sources, the results generally suggest that factors such as degree of openness and market size have a positive correlation with FDI flows; whereas, …

Determinants Of Foreign Direct Investment In An Emerging Market Economy: Evidence From India, Carlos Resende Jr.

Empirical Economic Bulletin, An Undergraduate Journal

Over the past few years, India has recorded a substantial increase in the level of annual foreign direct investment (FDI) inflows. This paper examines the relationship between foreign direct investment and domestic investment, while using the ordinary least squared technique, and a time series analysis from the period 1979-2008. Building on the prior literature, this paper provides an empirical analysis of domestic determinants of FDI such as size of market, openness to trade, infrastructure, attractiveness to domestic market, and exchange rate instability. In addition, this paper will include technology growth and specific variables to examine local determinates of FDI in …

Energy Consumption, Fdi, Government Effectiveness Economic Growth., Aaron Borges

Empirical Economic Bulletin, An Undergraduate Journal

The availability of energy is essential in initiating and sustaining economic growth. FDI has also been positively linked to economic growth although some argue that economic growth promotes FDI. Studies examining the government effectiveness of nations have suggested FDI is more effective and energy resources are used more effectively when a country has solid governance. While studies have examined these aforementioned macroeconomic issues, there is no empirical study that examines all these variants within the same model. This paper investigates these factors and their effect on economic growth throughout 50 nations for the year of 2005. Economic growth is calculated …

Determinants Of Female Labor Force Participation In United States, Dongni Wan

Empirical Economic Bulletin, An Undergraduate Journal

This paper is trying to discover the determinants of female labor force participation in United States from the year 2000 to 2009. The study contains over 1 million observations through-out the 4 business cycles and the household data from Current Population Survey (CPS) suggested that female labor force participation in the United States was influenced by several factors, namely, educational attainment, family income, marital status, age, race, number of children in the household. Women with higher education level and from wealthier households have a greater tendency of joining the labor force while those with only high school or lower degree …

Tao Of Downfall: The Failures Of High-Profile Entrepreneurs In The Chinese Economic Reform, Wenxian Zhang, Ilan Alon

Faculty Publications

Through historical reviews and case studies, this research seeks to understand why some initially successful entrepreneurs failed in the economic boom of past decades. Among various factors contributed to their downfalls are a unique political and business environment, fragile financial systems, traditional cultural influences and personal characteristics. Notwithstanding that these factors should be further tested through empirical studies, those high-profile entrepreneurs are oblivious but essential actors in the grand theatre of China's economic transformation and their failures have contributed to the swift development of the Chinese entrepreneurship over the last 30 years.

Globalization And Economic Growth In Sub-Saharan Africa, Hadiatou Barry

Gettysburg Economic Review

This study analyzes Sub-Saharan Africa through the framework of globalization. The study‘s objective is to determine whether globalization is a significant factor when associated with economic growth in the region. Using panel data from 1995-2005 for 41 countries and the KOF globalization index, an Ordinary Least Squares (OLS) model was employed to examine the relationship between globalization and other traditional factors of economic growth such as trade, foreign direct investment, loans, aid, natural resources, corruption, and rule of law. The study shows that globalization has a positive, though statistically insignificant impact on the economic growth of Sub-Saharan Africa. However, globalization …

Why You Pay What You Pay At The Pump, Jason Orne

Empirical Economic Bulletin, An Undergraduate Journal

This paper investigates several factors that strongly influence the day to day consumer price of Gasoline in America. This study incorporates existing information on the most likely variables that should influence gasoline prices from the beginning of 2006 to the very end of 2009. The study looks at contributing factors that include the average price of gasoline from the week before (pennies per gallon), the current weeks average oil price (Dollars per barrel), the previous weeks average oil price (Dollars per barrel), and the US production, and consumption of gasoline (1000 barrels per day). Using macro-level data from the US …

Illusions Of Market Paradise: State, Business, And Economic Reform In Post-Socialist Russia And Post-1980s Crisis Argentina, Jeffrey K. Hass, Gastón J. Beltrán

Sociology and Anthropology Faculty Publications

The 1980s and early 1990s were characterized by sweeping, radical neoliberal, monetarist-inspired economic reforms designed to correct financial or structural crises. Latin American countries initiated the wave, followed by Eastern Europe and the former USSR, although the timing, scope, and policies varied. Often one reads accounts of friends and foes of reform lined up to do battle in domestic and international alliances. However, reform processes and outcomes do not always follow the formula of reformers versus conservatives; there is more to the balance of power than these all-too-common accounts would suggest. Industrial managers in the Soviet Union and post-Soviet Russia …

How Does Foreign Direct Investment Affect Growth In Developing Countries? An Empirical Investigation, E. M. Ekanayake, John R. Ledgerwood

Publications

This paper analyzes the effects of foreign direct investment on the economic growth of developing countries. The study uses annual data on a group of 85 developing countries covering Asia, Africa, and Latin America and the Caribbean for the period 1980-2007. We explore the hypothesis that foreign direct investment can promote growth in developing countries. We test this hypothesis using panel data series for foreign direct investment, while accounting for regional differences in Asian, African, Latin American, and the Caribbean countries as well as the differences in income levels. While the findings of previous studies are generally mixed, our results …

Section 9, Ii - Blecker Paper On International Competitiveness, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Handwritten cover note on Section 9, II and Blecker paper on international competitiveness. Shaikh, A. 2010. [Unpublished manuscript]. Department of Economics, The New School for Social Research.
• International competitiveness, relative wages, and the balance-of-payments constraint. Blecker, R. A. 1998. Journal of Post Keynesian Economics, 20(4). M.E. Sharpe, Inc.
• Aggregate demand and firm behavior: a new perspective on Keynesian microfoundations. Fazzari, S. M., Ferri, P., & Greenberg, E. 1998. Journal of Post Keynesian Economics, 20(4). M.E. Sharpe, Inc.
• The long view of China's currency. Leonhardt, D. 2010. The New York Times. …

Geco104 Trade, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection contains:

• Shaikh, A. (2000, December 5; 2010, November 30, rev.). International competition and the theory of exchange rates [Handout].

• Shaikh, A., PhD. (2010, November 30). Competition, trade, uneven development [Handwritten notes for ECO 104].

• Global patterns of trade and development [Presentation slides]. (n.d.).

Proliferation Of Tail Risks And Policy Responses In The Eu Financial Markets, Lucjan Orlowski

WCBT Faculty Publications

This study draws attention to the proliferation of tail risks in financial markets prior to and during the course of the recent global financial crisis. It examines the level of tail risks in selected equity, interbank lending and foreign exchange markets in selected EU Member States in relation to the United States. The extent of tail risks is assessed by applying general error distribution (GED) parameterization in GARCH volatility tests of the examined variables. The empirical tests prove that tail risks were pronounced across all of the examined European financial markets throughout the crisis. They were also significant prior to …

The Impact Of Monetary Regimes On International Trade Are Eu Experiences Relevant For Asia?, Apanard P. Angkinand, Clas Wihlborg

Business Faculty Articles and Research

We extend much research that has been devoted to the effects of the European Monetary Union (EMU) on international trade by introducing monetary regime variables in bilateral export equations with the objective of capturing the effects on trade of changes in monetary regimes relative to the pure EMU effects. To make the analysis relevant from an Asian perspective trade effects of the EU’s internal markets are also separated from EMU effects. To identify these different effects we include three groups of countries in our sample: EMU countries which are also members of the EU, EU countries outside the EMU and …

Capm In Up And Down Markets: Evidence From Six European Emerging Markets, Jianhua Zhang, Clas Wihlborg

Business Faculty Articles and Research

The pricing of equity in six European emerging capital markets is analysed using both the conventional CAPM and a ‘conditional’ CAPM wherein up and down markets are separated. International influences on the stock markets are also analysed. The empirical evidence from a sample of 1,131 firms from the six markets indicates that there exists a significant relationship between beta and returns when up and down markets are separated. The international CAPM performs well in some markets that have become increasingly integrated with the world market. The general implication of the analysis is that beta can be a useful risk-measure for …

Exchange Rate Pass Through Into Domestic Prices In Mainland China, Xiangyu Zhang

Theses : Honours

The present study sets up an empirical framework to study the exchange rate pass through (ERPT) issue in China's domestic markets, within the Chinese economic reform period from 1978 till present. The results show a relative low degree of pass-through to consumer and retail prices, but high degree of pass-through to producer and purchasing prices. It suggests that the degree of ERPT tends to diminish along the price chain. In addition, the results also show an increasing trend of the degree of ERPT in recent years. The speed of price reaction to exchange rate shocks may be quicker in recent …

Rxr Rulc Typed Notes And Model Results, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2002). Full exchange rate and balance of payments model. Unpublished manuscript.
• Shaikh, A. (2009). Real exchange rate vs. adjusted relative real unit labor costs and covered interest rate differentials. Unpublished manuscript.
• Shaikh, A. (2009). Least squares estimations of deviations of the terms of trade from rescaled relative unit labor costs. Unpublished manuscript.
• Shaikh, A. (2009). Tests of uncovered interest parity versus the classical relative price hypothesis: Exchange rate changes and real interest differentials. Unpublished manuscript.
• Shaikh, A. (2010). United States and Japan macroeconomic cointegration analysis, unit root tests, and error correction …

Globalization And International Development: Critical Issues Of The 21st Century, Sisay Asefa Editor

Upjohn Press

These papers address globalization issues with a special emphasis on its impact on poverty. Advances in transportation and telecommunications with instantaneous information and communication flows requires new approaches given the wide differences in cultures, political systems, languages, and ethnicities. Extreme variation in the international distributions of wealth, income, and poverty remain as enormous social problems to be addressed. In general, the contributors recommend expanding the flows between countries to accelerate growth and reduce inequalities. These flows include international trade and capital, migration, remittances, and foreign aid. But in addition to these hard commodities and dollars, there are flows of ideas, …

Rulc Rxr Econometrics, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. Rule exchange rate and real exchange rate econometrics and stationarity analysis.
• Elliott, G., Rothenberg, T. J., & Stock, J. H. Efficient tests for an autoregressive unit root.
• Ng, S., & Perron, P. Lag length selection and the construction of unit root tests with good size and power.
• Pesaran, M. H., Shin, Y., & Smith, R. J. Bounds testing approaches to the analysis of level relationships.
• Shaikh, A. Gretl statistical regression software outputs for terms of trade and unit labor cost models.
• Shaikh, A. Simulated terms of trade, relative unit labor …

Pricing Bond Yields In The European Bond Market, David Cook

CMC Senior Theses

This paper analyzes macroeconomic factors and their effect on 2-year government bonds of 11 countries in the European Monetary Union. I specifically looked at how a simultaneous budget and trade surplus effect a country's bond yield spread relative to Germany's bond yield. My model showed that double surplus countries have a larger yield spread than countries that do not have a double surplus.

The Consequences Of Increasing Ocean Acidification On Local And Global Fishing Industries, Alyson N. Stark

CMC Senior Theses

As human activities continue to generate accelerating levels of carbon dioxide emissions, the world’s oceanic resources are threatened by variability in seawater chemistry, known as ocean acidification. Recent increases in atmospheric carbon dioxide have resulted in decreased carbonate ion concentrations and ocean pH levels, leading to increasingly acidic waters. The exact consequences of these chemical changes on ecosystems and individual species are difficult to predict; however, research has shown that economically valuable calcifying species will experience reduced reproductive fitness and population declines. Ocean acidification, therefore, poses an immediate risk to both fish stocks and fishery industries. From a local perspective, …

Integrated Overview, Case-Studies And Analysis: Income Inequality In Latin America, Post-1980, Aaron R. Campbell

CMC Senior Theses

This thesis provides an integrated overview on the historical and contemporary literature dedicated to the study of within-country income inequality in Latin America.

The central hypothesis of this report is that there are underlying factors that drive the persistent levels of high within-country inequality experienced by Latin American countries. We study two countries, Brazil and Bolivia, through the process of reform and growth, and note the effects on the labor markets.

Using all available statistics and the wealth of knowledge compiled since the early 1980s, this study identifies those trends, and the factors that cause them to reappear in numerous …

Rights & Interests: Trade & Disputes, Howard Guille

Human Rights & Human Welfare

A review of:

Trade Imbalance: The Struggle to Weight Human Rights Concerns in Trade Policy-Making. By Susan Ariel Aaronson & Jamie M. Zimmerman. New York: Cambridge University Press, 2008. 337pp.

and

Public Values & Public Interest: Counterbalancing Economic Individualism. By Barry Bozeman. Washington, DC: Georgetown University Press, 2007. 219pp.

and

The Impact of the WTO: The Environment, Public Health & Sovereignty. By Trish Kelly. Northampton, MA: Edward Elgar, 2007. 220pp.