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Articles 1 - 8 of 8
Full-Text Articles in Macroeconomics
Un Repaso. Desde La Mano Invisible A La Resurrección De Keynes, Francisco Carlos Ruiz Diaz
Un Repaso. Desde La Mano Invisible A La Resurrección De Keynes, Francisco Carlos Ruiz Diaz
Francisco Carlos Ruiz Diaz
La revolución industrial capitalista y la consolidación de la economía liberal, cambiaron el curso de la historia. Hoy por hoy, el desarrollo de la tecnología y la capacidad de la economía para interpretar estos avances han desplazado a la filosofía como fuente de transformación y cambio del sistema mundial. En las relaciones internacionales, por ejemplo, las doctrinas westfalianas de seguridad y soberanía han sido debilitadas por la globalización y la nterdependencia económica. En el campo social, los problemas de la pobreza, de la distribución de ingreso y de la falta de acceso a las oportunidades, son comprensibles a la luz …
Inflation Targeting And Growth: The Role Of The Tradable Sector, Luis Monroy Gómez Franco
Inflation Targeting And Growth: The Role Of The Tradable Sector, Luis Monroy Gómez Franco
Undergraduate Economic Review
This paper provides an analytical explanation to the empirical association between monetary policy conducted according to the inflation targeting (IT) framework and the appreciation of the exchange rate, relating it to the literature on the effects of the exchange rate on growth. A two sector small open economy model is developed in which the behavior of the non tradable inflation and the nominal exchange rate are analyzed. The results indicate that the response to inflation variance under the IT regime causes the appreciation trend. Since this trend is not reversed immediately, increasing returns in the tradable sector affect capital accumulation.
Corporate Humanitarian Partnerships, Rebecca C. Keyes
Corporate Humanitarian Partnerships, Rebecca C. Keyes
Chancellor’s Honors Program Projects
No abstract provided.
Why Over-Financialization In The Eurozone Periphery Was Inevitable: A Crisis Of Flawed Legislation And Competitive Imbalances, Maximilian Bevan
Why Over-Financialization In The Eurozone Periphery Was Inevitable: A Crisis Of Flawed Legislation And Competitive Imbalances, Maximilian Bevan
Maximilian Bevan
Over the past three years, the heads of state in the Euro area have argued over the proper monetary mechanisms to alleviate the protracted European debt crisis. This paper illuminates the often-overlooked aspects of this crisis – the fundamental failures of the monetary union from its inception. It expands the scope of analysis on the Eurozone crisis by addressing the over-financialization in the Eurozone periphery (Greece, Portugal, and Spain) within a political-economy framework. It explicates the direct relationship between the political manipulations of the legislation by Germany (analyzed from a public choice perspective) and the resulting economic consequences that the …
Introducing Students To The Competing Schools Of Thought In Intermediate Macroeconomics, Harlan M. Smith Ii
Introducing Students To The Competing Schools Of Thought In Intermediate Macroeconomics, Harlan M. Smith Ii
Harlan M. Smith
The article discusses how the intermediate macroeconomics instructor can introduce students to ways of old and new Keynesians and classical theorists addressed the question on why output and employment fluctuate. Keynesian macroeconomics characterizes a school of thought developed around two central prepositions. New Keynesians develop alternative ways of explaining short-run movements in output and employment in the early 1970's. All individuals maximize utility, firm maximizes profits. Recently, new classicals developed an alternative approach in explaining short-run fluctuation in employment and output by redefining the concept of the short run.
Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz
Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz
Justin Schwartz
Neoliberalism can be understood as the deregulation of the economy from political control by deliberate action or inaction of the state. As such it is both constituted by the law and deeply affects it. I show how the methods of historical materialism can illuminate this phenomenon in all three branches of the the U.S. government. Considering the example the global financial crisis of 2007-08 that began with the housing bubble developing from trade in unregulated and overvalued mortgage backed securities, I show how the repeal of the Glass-Steagall Act, which established a firewall between commercial and investment banking, allowed this …
Unemployment And Endogenous Reallocation Over The Business Cycle, Ludo Visschers, Carlos Carrillo-Tudela
Unemployment And Endogenous Reallocation Over The Business Cycle, Ludo Visschers, Carlos Carrillo-Tudela
Ludo Visschers
We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between markets, in response to changing aggregate and local conditions. Empirically, using the 1986-2008 SIPP panels, we document the occupational mobility patterns of the unemployed, finding notably that occupational change of unemployed workers is procyclical. The heterogeneous-market model yields highly volatile countercyclical unemployment, and is simultaneously consistent with procyclical reallocation, countercyclical separations and a negatively-sloped Beveridge curve. Moreover, the model exhibits unemployment duration dependence, which (when …
Southeast Asia's International Production Networks: Implications For Macroeconomic Stability, Abigail Eliana Zwick
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 …