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Affordable Housing In San Francisco: A Historical Analysis Of Its Finances And Policies, Ricky H. Tran 2021 The University of San Francisco

Affordable Housing In San Francisco: A Historical Analysis Of Its Finances And Policies, Ricky H. Tran

Master's Projects and Capstones

The affordable housing crisis is not new to San Francisco. As it has been made clear several times, The Bay Area continues to face a crisis of a massive wealth disparity as housing prices continue to rise as incomes for the top earners have risen dramatically since 1999. In San Francisco, rents and housing prices are one of the highest in the nation, and people are facing rent burdens, in which a large portion of their income goes to rent, as for those with low and extremely low income are facing severe rent burdens, which take up more than 50 ...


The Effect Of State Level Covid-19 Stay-At-Home Orders On Death Rates, Stephen A. Langeland, Jose Marte, Kyle Connif 2021 Liberty University

The Effect Of State Level Covid-19 Stay-At-Home Orders On Death Rates, Stephen A. Langeland, Jose Marte, Kyle Connif

CULTURE & CRISIS: Reconciling Constitutionalism & Federalism in a Time of Crisis

This paper attempts to examine a correlation between lockdown length and COVID-19 case rate, death rate and fatality rate. In March of 2020, the publishing of alarmist epidemiological models prompted government officials to enact sweeping emergency measures (Miltimore 2020). Notably, the Imperial College London model published by epidemiologist Neil Ferguson predicted a “best-case scenario” of 1.1 million COVID-19 deaths in the U.S. by August 2020. This model heightened concern that the hospital system would be overwhelmed, a reason cited by President Trump’s Coronavirus Task Force members, Dr. Birx and Dr. Fauci, as justification for the “15 Days ...


An Inferentially Robust Look At Two Competing Explanations For The Surge In Unauthorized Migration From Central America, Nick Santos 2021 University of San Diego

An Inferentially Robust Look At Two Competing Explanations For The Surge In Unauthorized Migration From Central America, Nick Santos

Dissertations

The last 8 years have seen a dramatic increase in the flow of Central American apprehensions by the U.S. Border Patrol. Explanations for this surge in apprehensions have been split between two leading hypotheses. Most academic scholars, immigrant advocates, progressive media outlets, and human rights organizations identify poverty and violence (the Poverty and Violence Hypothesis) in Central America as the primary triggers responsible. In contrast, while most government officials, conservative think tanks, and the agencies that work in the immigration and border enforcement realm admit poverty and violence may underlie some decisions to migrate, they instead blame lax U ...


The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi 2021 DG ECFIN, European Commission

The Roaring Twenties After Covid-19: Revisiting The Evidence For Europe, Alessio Terzi

Journal of New Finance

Inspired by conspicuous historical parallels, some scholars and journalists have recently postulated that GDP growth and productivity might boom in the aftermath of the Covid-19 pandemic. This paper reviews the evidence for and against the ‘Roaring 20s’ hypothesis, concluding that some countries might experience a forceful economic expansion, possibly fuelled by pent-up demand, compounding a successful digital and green transition, or leveraging an export-led model. However, a strong prolonged economic bonanza is unlikely to materialise evenly across the EU. An uneven recovery would acquiesce imbalances within the Union, and especially the euro area. As such, policymakers should avoid complacency, and ...


The “America First” Trade Policy Of The Trump Administration And Its Economic And Military Repercussions, Emily Jeffers 2021 Liberty University

The “America First” Trade Policy Of The Trump Administration And Its Economic And Military Repercussions, Emily Jeffers

Senior Honors Theses

This paper looks at the “America first” trade policy of the Trump administration and the perception that it was used to accomplish his goals of economic and military independence from the rest of the world’s interdependent web. It looks at the history of trade policy and tariffs in the United States; this is then linked to the evolution of President Trump’s trade policy through the implementation of tariffs, renegotiation of trade deals, and revision of military policy in order to “decouple” from the rest of the world. It examines the US-China trade war and the desire for increased ...


Implication Of British Economic Policies On Indian Famine, Soujanya Niroula 2021 University of Mississippi

Implication Of British Economic Policies On Indian Famine, Soujanya Niroula

Honors Theses

During the British rule, India was engulfed by multiple devastating famines. Over the past, scholars have presented varied opinions on the cause of Famine. Here, we seek to understand the British economic policies and their effects. Our analysis is focused on examining the taxation system, export/import policies, and crop production. We find that the interest of the British aligned with the extractive colonial strategy. The imposed institutions fostered higher tax collection and strict implementation of the free-trade system. Moreover, their primary goal was aimed at preserving trade and commerce than alleviating the distress of the native population.


Are Small Businesses The Framework For A Successful U.S. Economy?, Carson Clevenger 2021 University of Arkansas, Fayetteville

Are Small Businesses The Framework For A Successful U.S. Economy?, Carson Clevenger

Accounting Undergraduate Honors Theses

This thesis will investigate the impact of small businesses on the United States’ economy. I will be assessing several impact areas including gross domestic product, employment, and local economy contribution. This thesis will cover a study from the time periods of 1998-2014 of the gross domestic product and employment levels and will use numbers from the years of 2018- present for other impact areas. Furthermore, I will be analyzing certain sectors of the economy, comparing small businesses contribution to corporate contribution, in order to discuss if small businesses are necessary for our country’s successful economy.


Byzantine Economic Growth: Did Climate Change Play A Role?, Thomas E. Lambert 2021 University of Louisville

Byzantine Economic Growth: Did Climate Change Play A Role?, Thomas E. Lambert

Faculty Scholarship

Different chroniclers of the history of the Byzantine Empire have noted various economic data gleamed from historical documents and accounts of the empire at different periods of time. Research for this paper has not uncovered any estimates of long term, annual macroeconomic data (gross domestic product (GDP), national income (NI), etc.) for the empire during its existence. Such data has been estimated to one extent or another for other nations and societies that have existed during the middle ages. This paper attempts to provide conjectures on approximate real GDP per capita trends for the empire over its existence from AD ...


Mapping Renewal: How An Unexpected Interdisciplinary Collaboration Transformed A Digital Humanities Project, Elise Tanner, Geoffrey Joseph 2021 UA Little Rock Center for Arkansas History and Culture

Mapping Renewal: How An Unexpected Interdisciplinary Collaboration Transformed A Digital Humanities Project, Elise Tanner, Geoffrey Joseph

Digital Initiatives Symposium

Funded by a National Endowment for Humanities (NEH) Humanities Collections and Reference Resources Foundations Grant, the UA Little Rock Center for Arkansas History and Culture’s “Mapping Renewal” pilot project focused on creating access to and providing spatial context to archival materials related to racial segregation and urban renewal in the city of Little Rock, Arkansas, from 1954-1989. An unplanned interdisciplinary collaboration with the UA Little Rock Arkansas Economic Development Institute (AEDI) has proven to be an invaluable partnership. One team member from each department will demonstrate the Mapping Renewal website and discuss how the collaborative process has changed and ...


Lessons Learned: Zachary Taylor, Maryann Haggerty 2021 Yale University

Lessons Learned: Zachary Taylor, Maryann Haggerty

Journal of Financial Crises

Zachary Taylor joined the Federal Reserve Bank of New York (FRBNY) in January 2009 to lead the team responsible for managing and unwinding the central bank’s Maiden Lane II and III portfolios, which were acquired in connection with the intervention to assist American International Group (AIG). Taylor later took over responsibility for the Maiden Lane portfolio consisting of former Bear Stearns assets as well as the unwinding of the Term Asset-Backed Securities Loan Facility (TALF), another crisis-era program. All told, those portfolios amounted to more than $140 billion in residential mortgage-backed securities (RMBS), collateralized debt obligations (CDO), credit ...


Lessons Learned: Robert Hoyt, Esq., Yasemin Esmen 2021 Yale University

Lessons Learned: Robert Hoyt, Esq., Yasemin Esmen

Journal of Financial Crises

Robert Hoyt was General Counsel at the U.S. Department of Treasury between 2006 and 2009. He oversaw legal aspects of policies implemented to manage the crisis, including the rescues of Bear Stearns, AIG, and the U.S. Auto industry, the conservatorship of Fannie Mae and Freddie Mac, and the failure of Lehman Brothers, as well as the creation and implementation of the Troubled Asset Relief Program (TARP.) This Lessons Learned is based on a phone interview with Mr. Hoyt.


Lessons Learned: Alejandro Latorre, Maryann Haggerty 2021 Yale University

Lessons Learned: Alejandro Latorre, Maryann Haggerty

Journal of Financial Crises

At the time of the 2007-09 global financial crisis, Alejandro Latorre was an assistant vice president at the Federal Reserve Bank of New York (FRBNY). He was active in the bailout of American International Group (AIG) from its inception to the end, when AIG repaid its outstanding obligations to both the Federal Reserve and the U.S. Treasury. This Lessons Learned summary is based on a Feb. 26, 2020, interview. He emphasized that the views discussed here are his own, not the views of anyone else currently or previously within the Federal Reserve System or the views of his current ...


Lessons Learned: Sarah Dahlgren, Alec Buchholtz, Rosalind Z. Wiggins 2021 Yale University

Lessons Learned: Sarah Dahlgren, Alec Buchholtz, Rosalind Z. Wiggins

Journal of Financial Crises

Sarah Dahlgren was the Executive Vice President and head of the Financial Institution Supervision Group at the Federal Reserve Bank of New York (FRBNY) during the crisis and instrumental in the rescue of American International Group (AIG). This Lessons Learned summary is drawn from a March 22, 2018, interview in which she gave her take on how central bankers can prepare for future crises.


Lessons Learned: Chester B. Feldberg, Maryann Haggerty 2021 Yale University

Lessons Learned: Chester B. Feldberg, Maryann Haggerty

Journal of Financial Crises

Chester B. Feldberg worked for the Federal Reserve Bank of New York (FRBNY) for 36 years in a variety of roles. In the aftermath of the Global Financial Crisis, he served as a trustee for the AIG Credit Trust Facility (2009-2011). The trust was established in early 2009 to hold the equity stock of American International Group Inc. (AIG) that the U.S. government had received as a result of the 2008 AIG bailout. The three trustees were responsible for voting the stock, ensuring satisfactory corporate governance at AIG, and eventually disposing of the stock.

When he was named as ...


The Rescue Of Fannie Mae And Freddie Mac – Module Z: Overview, Rosalind Z. Wiggins, Ben Henken, Adam Kulam, Daniel Thompson, Andrew Metrick 2021 Yale Program on Financial Stability

The Rescue Of Fannie Mae And Freddie Mac – Module Z: Overview, Rosalind Z. Wiggins, Ben Henken, Adam Kulam, Daniel Thompson, Andrew Metrick

Journal of Financial Crises

In September 2008, as the financial crisis that had begun the previous year escalated, the US government appointed a conservator for two government-sponsored enterprises (GSEs), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), that dominated the secondary mortgage market and were among the largest participants in the global capital markets. The conservatorships were the hallmark of a multipart rescue plan intended to save the firms from insolvency and a disorderly collapse and required the combined and coordinated efforts of several government agencies and instrumentalities. Ultimately, the government invested $191.5 billion into ...


The Rescue Of Fannie Mae And Freddie Mac–Module F: Federal Reserve’S Large-Scale Asset Purchase (Lsap) Program, Daniel Thompson, Adam Kulam 2021 Yale University

The Rescue Of Fannie Mae And Freddie Mac–Module F: Federal Reserve’S Large-Scale Asset Purchase (Lsap) Program, Daniel Thompson, Adam Kulam

Journal of Financial Crises

By late 2008, the secondary mortgage markets were suffering high default rates, causing mortgage lending to slow and the value of mortgage securities to plummet. The Federal Reserve lowered the federal funds rate, and the government placed Fannie Mae and Freddie Mac into conservatorship, yet credit in housing and other financial markets remained tight. On November 25, the Fed announced its intent to purchase up to $500 billion in agency mortgage-backed securities (MBS) and $100 billion in agency debt to reduce the cost and increase the availability of mortgage credit, which would support housing markets and improve conditions in financial ...


The Rescue Of Fannie Mae And Freddie Mac – Module E: The Housing And Economic Recovery Act Of 2008, Daniel Thompson 2021 Yale University

The Rescue Of Fannie Mae And Freddie Mac – Module E: The Housing And Economic Recovery Act Of 2008, Daniel Thompson

Journal of Financial Crises

As the U.S. housing crisis worsened in 2007, and through 2008, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) headed towards insolvency. At the same time, contractions in private securitization resulted in these two government-sponsored enterprises (GSEs) purchasing nearly half of all new mortgages. In July, the government passed the Housing and Economic Recovery Act of 2008 (HERA) to provide a more effective regulator and to address public uncertainty regarding whether the government would back the GSEs’ assets and liabilities. HERA provided Treasury and the newly formed Federal Housing Finance Agency ...


The Rescue Of Fannie Mae And Freddie Mac – Module D: Treasury’S Gse Mbs Purchase Program, Michael Zanger-Tishler, Rosalind Z. Wiggins 2021 Harvard University

The Rescue Of Fannie Mae And Freddie Mac – Module D: Treasury’S Gse Mbs Purchase Program, Michael Zanger-Tishler, Rosalind Z. Wiggins

Journal of Financial Crises

As the housing crisis escalated during the second half of 2007, two government-sponsored enterprises (GSEs), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), occupied an increasingly central role in the secondary mortgage market, purchasing a greater percentage of new mortgages as private securitization rapidly contracted. As their importance in this market grew, the two GSEs also began to suffer billion-dollar losses, inciting concerns that they might not be able to stay solvent throughout the remainder of the crisis. On September 6, 2008, fearing the systemic consequences of the two firms’ failures, the ...


The Rescue Of Fannie Mae And Freddie Mac – Module C: Gse Credit Facility, Emily Vergara 2021 Yale University

The Rescue Of Fannie Mae And Freddie Mac – Module C: Gse Credit Facility, Emily Vergara

Journal of Financial Crises

In 2007 and 2008, the collapse of the subprime mortgage market and the deterioration of the housing market more generally precipitated a crisis at the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), which together held or guaranteed $5.3 trillion in mortgage assets. Over the course of two years, both entities suffered high losses and saw their liquidity positions deteriorate as the market perceived their rapid decline. On September 6, 2008, the Federal Housing Finance Agency (FHFA), pursuant to the authority of the Housing and Economic Recovery Act (HERA) of 2008, took ...


The Rescue Of American International Group Module Z: Overview, Rosalind Z. Wiggins, Aidan Lawson, Steven Kelly, Lily S. Engbith, Andrew Metrick 2021 Yale Program on Financial Stability

The Rescue Of American International Group Module Z: Overview, Rosalind Z. Wiggins, Aidan Lawson, Steven Kelly, Lily S. Engbith, Andrew Metrick

Journal of Financial Crises

In September 2008, in the midst of the broader financial crisis, the Federal Reserve Board of Governors used its emergency authority under Section 13(3) of the Federal Reserve Act to authorize the largest loan in its history, a $85 billion collateralized credit line to American International Group (AIG), a $1 trillion insurance and financial company that was experiencing severe liquidity strains. In connection with the loan, the government received an equity interest representing 79.9% of the company’s ownership. AIG continued to experience a depressed stock price, asset devaluations, and the risk of ratings downgrades leading to questions ...


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