International Economics Commons^™

Rxrrulc Interest Rates, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2009). Real interest rates, 3-month treasury bills and producer price index indexes, United States and trading partners. Unpublished manuscript.
• Shaikh, A. (2009). Nominal interest rates, 3-month treasury bills, United States and trading partners. Unpublished manuscript.
• Shaikh, A. (2009). Real exchange rate vs. real relative unit labor costs and interest rate differentials under fixed exchange rates. Unpublished manuscript.
• Shaikh, A. (2009). Competitive advantage, export-import log ratios, and relative prices. Unpublished manuscript.
• Shaikh, A. (2009). Notes on Cagatay: Trade and gender, growth versus development, and gender inequality as an instrument of international competition …

Soas Xr Trade Notes, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Barro, R. J. (1984). Changes in exchange rates and relative price levels, high inflation countries. In Macroeconomics. John Wiley and Sons.
• Shaikh, A. (2009). Given that Thirlwall's law applies to both the country and its trading partner, what restriction does this impose? Unpublished manuscript.
• Shaikh, A. (2008). Simulation data tables for Ricardian trade adjustment and fixed exchange rate models. Unpublished manuscript.
• Shaikh, A. (2008). Notes on Ricardo's theory of trade and the hydraulic model of international adjustments. Unpublished manuscript.
• Shaikh, A. (2008). United States real effective exchange rate and real relative unit labor …

Vertical Integration And Wage Inequality In Mexico In The Nafta Era, Maximilian Sirianni

Economics Honors Projects

No abstract provided.

Instability And The Incentives For Corruption, Filipe R. Campante, Davin Chor, Quoc-Anh Do

Research Collection School Of Economics

We investigate the relationship between corruption and political stability, from both theoretical and empirical perspectives. We propose a model of incumbent behavior that features the interplay of two effects: a horizon effect, whereby greater instability leads the incumbent to embezzle more during his short window of opportunity, and a demand effect, by which the private sector is more willing to bribe stable incumbents. The horizon effect dominates at low levels of stability, because firms are unwilling to pay high bribes and unstable incumbents have strong incentives to embezzle, whereas the demand effect gains salience in more stable regimes. Together, these …

Financial Crisis Containment, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

This Article maps financial crisis containment - extraordinary measures to stop the spread of financial distress - as a category of legal and policy choice. I make three claims.

First, containment is distinct from financial regulation, crisis prevention and resolution. Containment is brief; it targets the immediate term. It involves claims of emergency, rule-breaking, time inconsistency and moral hazard. In contrast, regulation, prevention and resolution seek to establish sound incentives for the long term. Second, containment decisions deviate from non-crisis norms in predictable ways, and are consistent across diverse countries and crises. Containment invariably entails three kinds of choices: choices …

Three Essays On Exchange Rate Economics, Gil Kim

University of Kentucky Doctoral Dissertations

A country’s economy is becoming more and more dynamic and complicated in its scale and mobility. So, the concerns of exchange rate economics have become more popular. My research interest is in international economics with its major factor, exchange rates and other macroeconomic variables. Chapter 1 presents a brief introduction of the three studies.

Chapter Two investigate the role of exchange rate changes with particular attention to international capital flows. With liberalization of capital movements, international capital movements became free and unrestricted in many emerging market economies as well as developed countries. Using a Vector Auto-regressive (VAR) model for a …

Youth Migration And Poverty In Sub-Saharan Africa: Empowering The Rural Youth, Charlotte Min-Harris

Human Rights & Human Welfare

Sangaré, a poor young farmer from a village in southern Mali, leaves his wife and three children to find stable employment in the capital city of Bamako. What he finds is an unrewarding reality that leads him from small job to small job, only earning about US 22 cents per day. These jobs range from selling sunglasses, to shining shoes, to driving a rickshaw. Unfortunately, his income has not proved enough to provide for his family, as his aunt has since adopted his daughter, and his children cannot attend school. The inability to find stable employment in Bamako has forced …

Measuring Offshore Outsourcing And Offshoring: Problems For Economic Statistics, Susan N. Houseman

Employment Research Newsletter

No abstract provided.

A Perspective Of Global Capitalism, James Soller

UNLV Theses, Dissertations, Professional Papers, and Capstones

Since the 1970s, the political-economic structure of global society has undergone drastic restructuring. International political economy is concerned with providing explanations for these changes. This thesis will provide an alternative view of international relations that is often marginalized in the mainstream literature. It will be argued that global society needs to be understood under the historical context of capitalism and the class relations that stem from it. Central to this argument is a Gramscian derived articulation of hegemony. Thus, hegemony will be conceptualized in this thesis as a transnational class that governs over global society through consent and coercion. While …

Políticas Y Medidas Para Fomentar Las Remesas Familiares En La República Dominicana: Impacto Económico Y Lecciones Para Cuba, Mario A. Gonzalez-Corzo, Scott Larson

Publications and Research

No abstract provided.

State And Regional Variation In The Effects Of Trade On Job Displacement In The Us Manufacturing Sector, 1982-1999, Roger White

Economics

Worker-level data from the 1984–2000 Displaced Worker Surveys are employed to examine the effects of trade on manufacturing workers’ probabilities of job displacement. Observed changes in import and export penetration rates yield increases in displacement probabilities for the North Central, Middle Atlantic and South Central regions yet lower displacement probabilities for the Plains/West and Pacific regions. Changes in import and export price indexes lead to increases in displacement probabilities for the Pacific, Southeast and Northeast regions and decreases for the South Central and Middle Atlantic regions. However, while the influences of imports and exports on job displacement vary considerably across …

Do Immigrants Counter The Effect Of Cultural Distance On Trade? Evidence From Us State-Level Exports, Roger White, Bedassa Tadesse

Economics

We examine the effects of immigrants and cultural distance on US state-level exports, placing emphasis on the extent to which immigrants may offset the influence of cultural distance with respect to the initiation and intensification of exports. Our findings suggest that greater cultural differences between the US and immigrants’ home countries reduce both the likelihood that exporting occurs and, when exporting is taking place, the level of exports. Immigrants are found to exert pro-export effects that offset, at least partially, the trade-inhibiting effects of cultural distance. The estimated effects of both cultural distance and immigrants are found to be greater …

Immigrants, Cultural Distance And Us State-Level Exports Of Cultural Products, Roger White, Bedassa Tadesse

Economics

We examine the relationships between immigrants, cultural distance and state-level exports, employing state-specific immigrant stocks and total US immigrant stocks, separately, and a measure of cultural distance recently introduced by [Tadesse, B., & White, R. (2008b). Cultural distance as a determinant of bilateral trade flows: Do immigrants counter the effect of cultural distance? Applied Economic Letters]. A positive link between immigrants and aggregate exports is reported and, while cultural distance is found to reduce exports, immigrants partially offset the effects of cultural distance by increasing both the intensity of existing exports and the likelihood that exporting occurs. However, heterogeneity in …

Relative Inflation-Forecast As Monetary Policy Target For Convergence To The Euro, Lucjan T. Orlowski

WCBT Faculty Publications

A monetary policy framework based on targeting a relative inflation-forecast is proposed for the economies converging to the euro. Such strategy aims at containing the differentials between the domestic and the implicit monetary union inflation-forecasts. Hence, these differentials become a basis for setting an operational policy target. The proposed framework can be viewed as an extension of flexible inflation targeting that prioritizes low and stable inflation over the exchange rate stability. It is believed to be consistent with the Maastricht convergence criteria and can be implemented in concurrence with the exchange rate stability benchmark for the ERM2. Several empirical tests …

Unpacking Sources Of Comparative Advantage: A Quantitative Approach, Davin Chor

Research Collection School Of Economics

This paper develops an approach for quantifying the relative importance of different sources of comparative advantage for country welfare in a global trade equilibrium. To explain the pattern of specialization, I present a multi-country, perfectly-competitive Ricardian model that extends Eaton and Kortum (2002) to predict industry trade flows. In this framework, comparative advantage is determined by the interaction of country and industry characteristics, with countries specializing in industries whose specific production needs they are best able to meet with their factor endowments, institutional environment, and technological strengths. I estimate the model parameters using a large dataset of bilateral trade flows, …

La Mondialisation Et Les Croyants: Des Effets De La Mondialisation Sur Les Communautés Chrétiennes = Globalization And Believers: Globalization’S Effects On Christian Communities, Carrie Lee Tallichet

Independent Study Project (ISP) Collection

This research aimed to explore the different manifestations of globalization’s impact on Catholic and Protestant student movements in Toulouse, France. To accomplish this investigation, the researcher sought the opinions of students who participate regularly in religious groups regarding the cultural diversity of their group and their concept of a global Christian community. Based on information gathered in interviews, the researcher concluded, though not definitively, that Catholic and Protestant student groups both experience the effects of globalization, but each in a manner in relation with their faith’s organizational structure: Catholic students felt close ties with other Catholic groups worldwide despite the …

A Sovereign Wealth Turn, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

On September 2, 2008, a group of leading sovereign wealth funds (SWFs) agreed on generally accepted principles and practices. The process that created the so-called Santiago Principles is important in its own right, as a milestone on the way to what might become international financial architecture. Since SWFs rose to prominence two years ago, they have been trapped in sterile domestic arguments between national security and open investment. These have obscured SWFs' significance and the governance challenge they present. The challenge reflects the power shifts and culture clashes of financial integration, which, thanks to capital flow reversals, no longer looks …

Understanding Nominal Anchor: A Case Study Of Central Bank Of Nigeria, A. Bamidele

Bullion

As a country's monetary authority, a central bank is responsible for the conduct of monetary policy. This onerous process begins with developing a plan of action of employing interest rates or controlling the money stock to influence the economy. The focus of monetary policy is to safeguard the value of the domestic currency in terms of what it can purchase as a basis of providing a framework for the achievement of wider government economic objectives of non-inflationary economic growth, employment, stable exchange rate, favourable balance of payments and more generally a stable financial environment for the economy. In view of …

Stages Of The Ongoing Global Financial Crisis: Is There A Wandering Asset Bubble?, Lucjan Orlowski

WCBT Faculty Publications

This study argues that the severity of the current global financial crisis is strongly influenced by changeable allocations of the global savings. This process is named a “wandering asset bubble”. Since its original outbreak induced by the demise of the subprime mortgage market and the mortgage-backed securities in the U.S., this crisis has reverberated across other credit areas, structured financial products and global financial institutions. Four distinctive stages of the crisis are identified: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Bear Sterns with some contagion effects on …

Who Really Made Your Car?: Restructuring And Geographic Change In The Auto Industry, Thomas H. Klier, James M. Rubenstein

Upjohn Press

The authors present the key characteristics of the vast network of auto parts suppliers and describe the changing geography of U.S. motor vehicle production at the local, regional, national, and international levels.

Cultural Distance And The Us Immigrant-Trade Link, Roger White, Bedassa Tadesse

Economics

Using data from the World and the European Values Surveys, we calculate cultural distances between the US and 54 immigrant home countries and examine the influences of cultural distance and immigrant populations on US imports from and exports to immigrants’ home countries during the years 1997–2004. Our study indicates that, for both US imports and exports, the trade‐enhancing effect of immigrants partially offsets the trade‐inhibiting effect of cultural distance. Further, decomposing our measure of cultural distance into two component dimensions and revisiting the immigrant–trade relationship, we find significant variation in the extent to which immigrants counter the trade‐inhibiting influences of …

The Return Of Russia: Energy's Superpower Or Potemkin Village?, Greg R. Bayes

Graduate Program in International Studies Theses & Dissertations

George Kennan's prediction of the Soviet Union's downfall may have, in retrospect, jinxed Russia on the one aspect that had historically worked in its favor: time. The confluence of time and space--brought about by an emphasis on territorial expansion-had greatly aided Russia when difficulties had rendered the variable of time indispensable. When confronted by the likes of Napoleon and Hitler, for example, Russia had at its disposal the luxury of always trading space for time. Although deprived of its empire, the issue of space is not an overarching concern for a Russia that today still spans from Vladivostok to St. …

Financial Frictions And International Trade, Ruanjai Suwantaradon

Research Collection School Of Economics

This paper studies the effects of financial market imperfections on a firm’s operating and exporting decisions. I introduce financial frictions into a trade model with heterogeneous firms along the line of Melitz (2003). With the presence of financial constraints, even among a group of firms with the same productivity level, firms that are more financially constrained operate on a less efficient scale, and as a result, may no longer find operating and/or exporting profitable. In addition, financial frictions may create a distortion compared to the Melitz (2003) world since operation and export participation may be undertaken by those with better …

A Welfare Analysis Of Capital Account Liberalization, Jürgen Von Hagen, Haiping Zhang

Research Collection School Of Economics

We develop a model of a small open economy with credit market frictions to analyze the consequences of capital account liberalization. We show that financial opening facilitates the inflows of cheap foreign funds and improves production efficiency. Reforms increasing labor market exibility can further improve such efficiency gains. However, capital account liberalization also has important distributional consequences. Specifically, it may be impossible to use public transfers to fully compensate the loss of those negatively affected by capital account liberalization. This explains why financial opening often meets fierce opposition even though it leads to efficiency gains for the economy as a …

Discussion Of Do The Biggest Aisles Serve Brighter Future? Implications Of Global Retail Chains' Presence For Romania, Davin Chor, Beata Javor, Li Xue

Research Collection School Of Economics

No abstract provided.

Import Source Reallocation And Us Manufacturing Employment, 1972-2001, Roger White

Economics

Examining the US manufacturing sector, we focus on the potential employment effects of shifts in import sources from relatively high- to low-income nations. Data for 384 6-digit NAICS US manufacturing industries that span the years 1972–2001 are utilized. Increased import penetration is found to reduce both production and non-production employment; however, such job loss is countered by export-led job creation. Extending the literature, we report that reallocation of import sources from high- to low-income nations reduces manufacturing employment, and when shifts in import sources coincide with rising import penetration the result is an acceleration of job loss.

The Persistent Problem: Inequality, Difference, And The Challenge Of Development, Aseema Sinha, John Echeverri-Gent, Leslie Elliott Armijo, Marc Blecher, Daniel Brumberg, Valerie Bunce, Kiren A. Chaudhry, John W. Harbeson, Evelyne Huber, Bronwyn Leebaw, Susanne Hoeber Rudolph, Loren Ryter, Susan L. Woodward

CMC Faculty Publications and Research

This report highlights the complex, multidimensional nature of inequality in the era of globalization. It documents that despite the impressive strides by nations like China and India, absolute inequality between the richest and poorest countries is greater than ever before in history. It demonstrates that the rise of China and India creates a new dimension to the persistent problem of inequality.

Oil And Remittances In The Middle East, Azza El-Sharabassy

Graduate Program in International Studies Theses & Dissertations

This dissertation constructs a framework for understanding the determinants of remittances. It develops the effects of multiple macro economic variables in one area in the Middle East on the remittances flows and the future development of (another Arab neighboring country) Egypt. The framework will explore the relationship between oil prices and remittances from oil based economies (mainly Saudi-Arabia, Kuwait and the Arab Emirates) to a labor exporting country (Egypt). It also highlights the impact of multiple variables affecting the flow of remittances from labor exporting Arab countries: (1) Prices of oil. (2) Oil revenues. (3) Differentials in deposit interest rate …

Economic Inequality In The New European Union: Are Monetary Policies In The European Union Unfair For Certain Countries?, Gregory Eric Banach

Dissertations

This research is focused on the affect one uniform monetary policy will have on the less developed countries that entered the European Union (EU) in 2004. One of the challenges facing the new entrants involves the required implementation of monetary policy goals, even though these new entrants do not have a vote on how the monetary policy is determined. Monetary policy in the EU is the responsibility of the European Central Bank (ECB) who has a stated goal price stability. It is possible to use the Taylor Rule to test whether the ECB focuses on price stability for both old …

Exploring A Us Immigrant – Intra-Industry Trade Link, Roger White

Economics

We extend two strands of literature: the determinants of intra-industry trade (IIT) and the effect of immigration on trade flows. Product-level (HS10) data for US trade with 62 nations spanning the years 1989–2001 are used to construct industry-level (HS6) IIT values. A positive relationship is reported between immigration and the level of aggregate IIT. Immigration also increases vertical IIT and horizontal IIT; however, coefficients are of greater magnitude for the latter measure. Examining variation across home countries, immigrants from lower income countries appear to exert a greater influence on IIT measures than do immigrants from higher income countries.