Macroeconomics Commons^™

The End Of The Three Percent Rule: How Structural Changes In The U.S. Economy Have Impacted Economic Growth, Maxwell J. Urman

CMC Senior Theses

Using data from government sources (FRED, BEA, BLS), the thesis explores the underlying reasons for declining U.S. economic growth. A long standing trend of annual 3% growth no longer seems to hold true for the economy. The paper summarizes current theory as to why the growth has slowed and finds new explanations by analyzing the various major industries which make up GDP. The results show that sectoral shifts in employment from high paying industries to low paying industries help to explain a significant portion of the decline in national growth rates. The decline in growth is primarily driven by about …

Degree Matters: The Impact Of A Leader’S Foreign Education On His Country’S Economic Development, Zhongyi Yu

CMC Senior Theses

I analyze the correlation between a nation leader’s foreign education experience and their nation’s GDP growth and economic freedom in African, Asian, and South American countries. There is a statistically significant correlation between a leader’s foreign education and the country’s GDP growth rate, especially in Africa. Data also shows that a leader’s foreign education is positively correlated with his country’s economic freedom. Despite the fact that the regressions can only demonstrate correlation as opposed to causation relationships among variables, further analysis of the results concludes that a leader’s education and the country’s development are reciprocal. The findings of this paper …

Are Oil Prices Important To U.S. Manufacturers?, Austin Perez Schoff

CMC Senior Theses

Very little has been written about the effect that oil prices have on manufacturing output in the United States. This paper aims to shed light about the effect of oil prices, oil imports, and GDP on U.S. manufacturing output through a four-variable vector autoregression and explain the timing of these shocks through impulse response functions. Empirical results find that oil prices are significant in determining manufacturing output, but manufacturing output is also significant in determining oil prices.

The Hall Memorial Lectures, Lewis Karstensson

Molasky Family Department of Economics and Real Estate Faculty Research

This publication is a record of the Hall Memorial Lectures in Economics delivered at the University of Nevada, Las Vegas, in the 1980s.

Contents include:

Wallace C. Peterson, "Contemporary Macroeconomics: A House Divided" (Dec. 1, 1983)

Wallace C. Peterson, "Economic Stabilization and Inflation" (May 8, 1984)

Murray N. Rothbard, "The Five Faces of Reaganomics" (Nov. 27, 1984)

Murray N. Rothbard, "The Terrible Simplifiers: The Case Against the Flat Tax" (May 7, 1985)

Larry D. Singell, "Youth Unemployment: An American Crisis" (May 14, 1986)

Murray N. Rothbard, "Is There Life After Reaganomics?" (Oct. 22, 1987)

Murray N. Rothbard, "Deficits and Taxes: …

Capitalism - Oxford University Press, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Economic processes and time scales in classical tradition(unpublished manuscript), by Anwar Shaikh, PhD, dated 2017-10-03.
  • Typed manuscript outlining four economic adjustment processes within the classical tradition framework, including fast, medium, medium-slow, and slow processes related to selling prices, circulating capital, capacity utilization, profit-rate equalization, and technical change.
  • Handwritten notes by Anwar Shaikh, PhD, titled 4 speeds ↔ 4 instruments, dated 2017-10-04, discussing adjustment mechanisms involving circulating capital, fixed capital, capacity utilization, profit-rate equalization, entry and exit of firms, technical change, and regulating conditions across industries.
  • Handwritten annotations by Anwar Shaikh, PhD, concerning the equalization of …

Comments On “Rich Debt, Poor Debt: Assessing Household Indebtedness And Debt Repayment Capacity”, Sock Yong Phang

Research Collection School Of Economics

This paper assesses the system-wide impacts of Malaysia’s rising household debt.Malaysia’s household debt-to-GDP ratio (HDGR) increased from 76% in 2009 to 89%in 2016. This increase has raised concerns regarding the implications for householdfinancial resilience and banking system stability. The paper uses a micro-level datasetthat integrates income and debt to calculate financial margin (FM) and the probabilityof default (PD) for individuals at the baseline, and when subject to various shocks.This allows the estimation of loss to lenders in the event of default, and from there,the banking system’s debt-at-risk. The findings show that default is more likely forhouseholds with a debt service …

Comments On “Rich Debt, Poor Debt: Assessing Household Indebtedness And Debt Repayment Capacity”, Sock Yong Phang

Research Collection School Of Economics

This paper assesses the system-wide impacts of Malaysia’s rising household debt.Malaysia’s household debt-to-GDP ratio (HDGR) increased from 76% in 2009 to 89%in 2016. This increase has raised concerns regarding the implications for householdfinancial resilience and banking system stability. The paper uses a micro-level datasetthat integrates income and debt to calculate financial margin (FM) and the probabilityof default (PD) for individuals at the baseline, and when subject to various shocks.This allows the estimation of loss to lenders in the event of default, and from there,the banking system’s debt-at-risk. The findings show that default is more likely forhouseholds with a debt service …

A Retrospective Insight Into Pakistan's Exchange Rate Regimes And Their Impact On The Economy, Lalarukh Ejaz, Madeeha Akhtar

Business Review

Nuclear tests carried out by Pakistan in May 1998 had a distinctive impact on the evolution of the exchange rate. This case describes what happened to the exchange rate before and after the nuclear tests and focuses on the overall impact of Pakistan’s transition from a hostile relationship with the US in the post-Cold War era to becoming an ally of the US in the war on terror. This case can be used to study the concepts of real and nominal exchange rates, the linkage between exchange rate policy and external balance, how exchange rate can be used as a …

Worker Selection, Hiring, And Vacancies, Ismail Baydur

Research Collection School Of Economics

The ratio of hirings to vacancies in the U.S. has the following establishment level properties: (i) it steeply rises with employment growth rate; (ii) falls with establishment size; and (iii) rises with worker turnover rate. The standard Diamond-Mortensen Pissarides (DMP) matching model is not compatible with these observations. This paper augments selection of workers prior to hiring into a random matching model with multi-worker firms. In the calibrated model, worker selection accounts for about 30% of the variation in the hiring-vacancy ratio observed in the data. Compared to the standard model, the worker selection model has both qualitative and quantitative …