Macroeconomics Commons^™

Regresi Ambang Untuk Mendalami Pengaruh Nonlinier Kekuatan Pasar Terhadap Pinjaman Bank Di Asean-5, Mahjus Ekananda

Jurnal Ekonomi dan Pembangunan Indonesia

Credit distribution has developed rapidly in the ASEAN region and it is largely dominated by the banking sector compared to other financial institutions. This study explores the effects of various changes to the GDP growth regime, firm size, and monetary policy. The objects of this research are commercial banks in ASEAN-5 from year 2010 to 2019. This study utilises the threshold regression method and a single proxy to measure market power. Results of this study found that monetary policy and market forces affect productive credit. Changes in impact that occur are mostly due to different behavior between banks in response …

Democratic Facades, Authoritarian Penchants: Post-Communist Monetary Restructuring In The Baltic States, Jokubas Salyga

Political Science Faculty Publications and Presentations

This paper argues that the paths taken by Estonia and Latvia in their departure from the rouble zone are illustrative of authoritarian neoliberal governance. By challenging the widely assumed simultaneity of ‘democratic’ and ‘market’ revolutions, it critiques institutionalist literature on Baltic exchange-rate regimes and sheds light on the various methods employed to curtail democratic political discourse and participation. The paper delves into the origins of the Baltic neoliberal historical blocs and identifies the social forces that influenced the development of monetary reform initiatives. It then explores the construction of exchange-rate systems through the lens of power struggles within the state …

Monetary Policy And Stagflation: A Trade-Off Between Price Stability And Economic Growth?, Leef H. Dierks

Journal of New Finance

Several euro area economies are likely to experience a stagflation in 2023. This situation is characterized by a combination of economic stagnation, i.e., GDP growth falling below its potential growth rate, and a pronounced increase in inflation as was last observed during the 1970s’ oil crisis. A stagflation presents the European Central Bank with a dilemma. Should it further tighten its monetary policy in an attempt to align euro area inflation (expectations) with its target of two per cent p.a. in the medium term? Or should the ECB re-adopt a more accommodative stance so as to stimulate economic growth in …

Essays On Macroeconomics, Mauricio Torres Ferro

Electronic Thesis and Dissertation Repository

My dissertation consists of three essays on Macroeconomics. In the first two chapters, I study the implications of uncertain expenses for households' savings and for their consumption adjustment in response to monetary policy. In the third chapter, I study how asset liquidity affects households’ ability to smooth idiosyncratic income shocks.

In the first chapter, I characterize uncertain expenses using U.S. Consumer Expenditure Survey data. Here, my goals are twofold. First, I classify households’ spending that captures uncertainties in expenses (for example, car and home repairs or out-of-pocket medical expenses) and measure their overall importance. Second, I aim to understand how …

The Economic Analysis Of Conflicts And Peace In Autocratic And Democratic Regimes In Africa, Oluwole Owoye

Journal of African Conflicts and Peace Studies

This paper uses conceptual economics to explain how conflicts and peacebuilding are linked to economic growth/development in Africa. Both conflicts and peace have contagion effects in many countries worldwide, and in some cases, conflicts have morphed into regional and international problems. Conceptually, the monotonicity of conflicts and peace functions are invariant with respect to autocratic and democratic forms of governance in Africa. One of the main assertions of this study is that whether or not we have stable autocratic and/or democratic forms of governance, protracted conflicts have negative impact on sustainable economic growth in Africa. In addition, we found that …

The Economic Surplus, The Baran Ratio, And Long Wave Cycles, Thomas E. Lambert

Faculty Scholarship

This paper briefly outlines the idea and development of the economic surplus concept at the macroeconomic level as opposed to the one in microeconomics often labeled as a Marshallian surplus. Of special interest and focus is the concept as developed and used by heterodox economists. The notion of a residual amount of output or income over and above what is necessary for a society’s consumption (education, housing, food, clothing, health care, transportation, and other necessities of life) that can be used either for further consumption by an elite class, used for reinvestment in productive activities, and/or wasted on unproductive efforts …

Chinese Political Rhetoric And Ideology: Tension And Pretension, Israel Paredes

Honors Theses

This changing nature of the Chinese government’s ideology leads one to believe that its core beliefs are not dogmatic, despite the foundation for their ideology being rooted in specific societal and economic theories. Starting with Mao Zedong to modern day, the Chinese government officials will continue to support the original tenets (and, no doubt, future presidents’ additions to the tenets). However, the interpretation of their ideology over time is fluid and is used to support policies and actions during a political cycle. Chinese political leaders are unlikely to disagree with a past leaders, and will rather use their own interpretation …

County-Level Unemployment Dynamics Following The Covid Recession: The Effects Of Ppp Loan Take Up, Preston Antes

Honors Theses

The COVID-19 pandemic caused a nationwide shutdown, dragging the US into a recession. To combat the effects of the pandemic on the economy, Congress created the Paycheck Protection Program (PPP) with the focus of preserving jobs and providing liquidity to small businesses. PPP created low-interest, forgivable business loans with forgiveness tied to a few benchmarks, providing a de facto cash transfer to small businesses. Did PPP preserve jobs? When examining Mississippi, this paper shows that counties with high cyclical unemployment participated more intensely in the program. Furthermore, the research shows that as loan totals grew within a county, local labor …

Exploring The Adoption And Impact Of Bitcoin: A Comparative Analysis, Zachary S. Biedscheid

2023 Symposium

Bitcoin, a decentralized digital currency, has gained significant attention recently as a potential alternative to traditional financial systems. This research project aims to explore the adoption and impact of Bitcoin by conducting a comparative analysis of its use in different countries and regions. The study will begin by examining the history and evolution of Bitcoin, its underlying technology, and its potential advantages and disadvantages compared to traditional financial systems. The project will then investigate Bitcoin adoption in different regions, including North America, Europe, Asia, and Africa, by analyzing data from relevant sources such as surveys, news articles, and academic research. …

Breaking The Promise: The Burden Of Unfunded Liabilities On Future Generations, Thomas Savidge

Helm's School of Government Conference - American Revival: Citizenship & Virtue

This paper discusses the trillions of dollars in government debt accumulated by state governments as well as the costs of debt on future generations. It examines unfunded pension liabilities, unfunded other post-employment benefit (OPEB) liabilities, as well as state bonded obligations and the crowding out effect of public debt onto state budgets. The paper also discusses opportunities for reform that can help alleviate the debt burden on future generations. Data are collected from state annual comprehensive financial reports (ACFRs) as well as public pension and OPEB actuarial valuations.

Renovating America's Electrical Grid: Renewable Sources And Resilient Delivery, Justin O'Hare Giffee

Student Theses 2015-Present

Since the late 1800s, America’s electrical grid systems have relied primarily upon fossil fuels for sources of electricity. Due to the outdated structural foundations and glaring holes in distribution networks, the existing electrical grids struggle with electricity escaping, and modern issues such as cybersecurity, resilience, and weather-related events associated with climate change. This essay discusses ongoing problems with current electric grid systems and aims at explaining the importance of incorporating renewables as a solution for these problems into a new grid system. In the first chapter, a detailed explanation is provided regarding the current issues present in America's grid systems. …

Understanding Romania's Poverty: A Historical Overview Of Economics And Politics And Their Implications On Poverty Today, Benjamin Bucur

Senior Honors Theses

Romania is a country with a high-income economy that is experiencing considerable growth following its economic reforms of earlier decades. With growth, tendencies for an unequal society are prevalent. Therefore, appropriate economic policies that are specifically targeted toward bottlenecks are essential. This thesis seeks to outline the major types of poverty in Romania while also offering actionable entrepreneurial and educational insights that practically combat poverty at its roots.

Essays On Manufacturing And Growth, Hugo Vaca Pereira Rocha

All Dissertations

The first chapter of this dissertation studies the role of human capital in generating economic convergence through its impact on manufacturing productivity growth and allocation of labor across sectors of the economy. I confirm and extend existing results showing that productivity in manufacturing – unlike its economy-wide counterpart – has exhibited convergence; that is, countries further behind the technology frontier tend to catch up to those on the frontier. I then show that the convergence in manufacturing is (a) somewhat accelerated by countries’ tertiary education levels and (b) faster in high-tech industries. Perhaps surprisingly, this is not driven by tertiary …

Income Inequality And Economic Growth: An Analysis, Nicholas Martin

Economics Undergraduate Honors Theses

Income inequality and its relationship with economic growth has been a subject of debate in academia for decades. This paper examines the relationship the Gini index of five selected countries and four macroeconomic variables (GDP growth, unemployment rate, lending interest rate, and savings rate) for each country with two developed nations being represented (United States and Italy) and three developing nations being represented (Peru, Belarus, and Indonesia). After reviewing the literature on the relationship between income inequality and economic growth, a multivariate regression analysis of each country is presented; first with GDP growth as the dependent variable, followed by a …

Esg Reporting And Its Effect On Financial Performance Of Oil, Gas, And Utility Companies In The United States, Logan Lam

Honors Theses

According to the Harvard Business Review article ESG Investing Isn’t Designed to Save the Plant (Pucker and King 2022), the term ESG investments – which stands for environmental, social, and governance investing – often confuses investors because it is unregulated. Additionally, the author continued to claim that the data is outdated and mostly unaudited. Even if data on these investments is available to investors, it can still be challenging for them to make decisions regarding ESG. Trusting compatibility and accuracy can be difficult considering that companies can choose how to produce or calculate their own ESG data. Another claim that …

Vietnam’S Gdp: Re-Assessing Growth Rate And Identifying An Alternative Indicator, My Linh D. Nguyen

Honors Theses

Since the economic reform known as Doi Moi (Renovation) in 1986, Vietnam has changed from one of the world’s poorest to a middle-income country in one generation (USAID, 2022). The country has consistently registered high and stable economic growth since the reform, averaging 6.3% from 1985 to 2021 (World Bank, 2022). High growth rate of gross domestic product (GDP) is good news, but it has also raised questions that go both ways. On one side, there is much speculation that the government of Vietnam has manipulated economic statistics, compared to the case of China and India. As quoted in Kinh …

Legal Setbacks, Disbursement Sudden Stops, And Fiscal Stimulus: An Empirical Characterization Of A Recent Philippine Characterization Of A Recent Philippine Fiscal Experience, Lawrence B. Dacuycuy, Mariel Monica R. Sauler

Angelo King Institute for Economic and Business Studies

No abstract provided.

The Institutional Drivers Contributing To Billionaire Wealth At The Sector Level, Rob Piper

Class, Race and Corporate Power

Over the last 50 years (the period of neoliberalism) the national wealth of the United States reached unprecedented levels. Despite this dramatic increase in national wealth, an increasing amount of American wealth has found its way into the hands of a smaller percentage of the population. Indicative of this inequality, the number of individuals that have achieved a net worth of $1 billion (billionaires) has increased at a higher rate than any other time in American history. Descriptive evidence and analysis of macroeconomics from scholarly literature and journalism attributes this dramatic increase in billionaire wealth to certain comprehensive and interrelated …

Macroeconomic Determinants Of Stock Market Development In Sample African Economies, Ehab Ayoub

Theses and Dissertations

This research paper studies the relationship between macroeconomic determinants as independent variables and different measures of stock market development as dependent variables across selected emerging economies in Africa for the period of 2002 to 2021, with a quarterly frequency using time series analysis. The independent variables used are Core Inflation, Deposit Rate, Foreign Direct Investment (FDI), FX Rate against USD, Domestic Credit, Gross Domestic Product (Real GDP), Exports, Imports, External Debt, and Foreign Reserves. We use these variables as our main determinants of measuring economic growth. With regards to stock market development, we use four proxy measures as our benchmark, …

Recessionary Woes: Examining Economic Policies And Their Impact On Student Loan Debt And Housing Stability In The United States, Connor Recck

Senior Theses and Projects

Recessionary periods can seldom be avoided, but our modern public infrastructure has designed mechanisms to respond to these downturns. Economic policy has rapidly changed over the last 50 years, and the types of tools policymakers use have evolved with it. When looking at the Great Recession (2007-2009) and the COVID-19 recession (2020), a federal response structure was vital for the health of the macroeconomy. These recessionary periods serve as case studies for a review of economic policymaking activity in the United States since 2000. To examine the efficacy of the federal government’s fiscal and monetary infrastructure, policies focused on supporting …