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Articles 61 - 64 of 64

Full-Text Articles in Macroeconomics

Credit Market Imperfections, Financial Crisis And The Transmission Of Monetary Policy, Brett Spencer Jan 2011

Credit Market Imperfections, Financial Crisis And The Transmission Of Monetary Policy, Brett Spencer

CMC Senior Theses

This paper uses U.S. macroeconomic data drawn from 2001 to 2010 in order to test for the operation of a credit channel of monetary transmission. Using a combination of a VAR and ADL time series frameworks, evidence is found for the impairment of the credit channel during the crisis period relative to the period which preceded it. Evidence is also found against the presence of a "credit crunch" during the crisis, and supporting evidence is found for the existence of a "credit trap." This analysis indicates a significant role for credit market imperfections in the transmission of monetary policy, and …


How Are Inflation Expectations Formed By Consumers, Economists And The Financial Market?, Shaun Khubchandani Jan 2010

How Are Inflation Expectations Formed By Consumers, Economists And The Financial Market?, Shaun Khubchandani

CMC Senior Theses

Inflation expectations have been of great interest to economists because they predict how agents in an economy set prices and react to changes in various macroeconomic variables. The existence of Keynesian liquidity traps in Japan and the United States have helped emphasize the importance of inflation expectations, especially when monetary policy is rendered ineffective and there is almost perfect substitutability between money and bonds due to the zero bound condition of interest rates. Given the canonical theories of rational and adaptive expectations, this paper will use a simple model of the economy to measure the effect of various macroeconomic variables …


Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess May 2009

Estimating The Macroeconomic Consequence Of 9/11, S. Brock Blomberg, Gregory Hess

CMC Faculty Publications and Research

We perform an empirical investigation to estimate the macroeconomic cost of September 11 attacks on the United States economy. We estimate the impact of the attacks to be approximately a 0.50 percentage point decrease in GDP growth or $60 billion. Our upper bound estimate of the impact of September 11 is approximately twice that or $125 billion.


Trade Problems And Trade Policies, Sven W. Arndt Jan 1985

Trade Problems And Trade Policies, Sven W. Arndt

CMC Faculty Publications and Research

The contemporary protectionist furor in the U.S. Congress is not only unprecedented in the post-World War II era but also anomalous. It is anomalous because it occurs in the context of an economic recovery and one of the most extended recoveries at hat. Although unprecedented and anomalous, it is not difficult to explain for it occurs during one of the most unbalanced economic recoveries on record.