Author: Shen YifanPublisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Three essays on international transmission of shocks
Essays on the Transmission of Shocks
Author: Deren UnalmisEssays on the Transmission of Shocks Between Financial, Energy and Food Markets
Author: Ikram JebabliEssays on the Transmission of Economic Shocks
Author: Claire H. HollwegPublisher:
ISBN:
Category : Consumption (Economics)
Languages : en
Pages : 404
Book Description
This thesis explores the transmission of economic shocks. Although the thesis is structured as four stand-alone chapters, the common theme throughout is identifying the impact of economic shocks: either idiosyncratic shocks at the household-level, macroeconomic shocks emanating from foreign countries and transmitted through global markets, or countries' own macroeconomic policy changes (for example, structural reforms or trade reforms). Each chapter applies a different empirical methodology, including structural estimation, reduced form instrumental variables estimation, and growth accounting. Finally, each chapter utilizes a different dataset and country sample selection. While one chapter uses a micro dataset from household-level surveys, others use cross-country datasets at the aggregate country level. Both developed and developing countries are considered in the analyses. The thesis begins by exploring the relationship between idiosyncratic income changes and consumption changes of Australian households over the period 2001-2009. A major contribution to the literature is the use of the Household Income and Labor Dynamics of Australia dataset that includes panels on both consumption and income data. For the entire sample of Australian households, nearly full consumption smoothing exists against transitory shocks. Although less consumption smoothing exists against permanent shocks, Australian households still achieve a high degree of consumption smoothing against highly persistent shocks, particularly when compared to households in the United States. Durable purchases, female labor supply, and taxes and transfers are all found to act as consumption-smoothing mechanisms. The thesis then explores the impact of structural reforms on a comprehensive list of macro-level labor-market outcomes, including the unemployment rate, employment levels, average wage index, and labor force participation rates. After documenting the average trends across countries in the labor-market outcomes up to ten years on either side of each country's reform year, fixed-effects ordinary least squares as well as instrumental variables regressions are performed to account for likely endogeneity of structural reforms to labor-market outcomes. Overall the results suggest that structural reforms lead to positive outcomes for labor, particularly for informal workers. Redistributive effects in favor of workers, along the lines of the Stolper-Samuelson effect, may be at work. The thesis then explores the impact of trade liberalization on macroeconomic estimates of productivity using Brazil as a case study. Trade and economic reforms can affect the price of capital goods relative to other tradable and especially non-tradable goods. If the price of capital investments rises more than the price of all goods and services in the economy, mismeasurement of the price of capital caused by the divergence in these relative prices would result in an overestimated capital stock and underestimated TFP. This chapter overcomes this bias by constructing a capital price index using international trade data on capital goods' unit values then adjusts the index to reflect domestic Brazilian prices. A significant recovery between 1992 and 2006 is observed, highlighting the important role of the price deflator in growth accounting. The final chapter of this thesis proposes a methodology to measure the vulnerability of a country through exports to fluctuations in the economic activity of foreign markets. Export vulnerability depends first on the overall level of export exposure, measured as the share of exports to a foreign market in gross domestic product, and second on the sensitivity of exports to fluctuations in foreign gross domestic product. This sensitivity is captured by estimating origin-destination specific elasticities of exports with respect to changes in foreign gross domestic product using a gravity model of trade. Although the results suggest differences in elasticity estimates across regions as well as product categories, the principal source of international heterogeneity in export vulnerability results from differences in export exposure to global markets.
Essays on the Transmission of Monetary Policy
Author: Marvin Jenkins BarthPublisher:
ISBN:
Category : Interest rates
Languages : en
Pages : 340
Book Description
Essays on the Phillips Curve and the Transmission of Monetary Policy Shocks
Author: Ricardo LlaudesEssays on Foreign Banking and International Shock Transmission
Author: Daniel Joseph BeltonPublisher:
ISBN: 9781339926650
Category : Electronic dissertations
Languages : en
Pages : 116
Book Description
Essays in Economic Dynamics
Author: Akio MatsumotoPublisher: Springer
ISBN: 981101521X
Category : Business & Economics
Languages : en
Pages : 257
Book Description
This book reflects the state of the art in nonlinear economic dynamics, providing a broad overview of dynamic economic models at different levels. The wide variety of approaches ranges from theoretical and simulation analysis to methodological study. In particular, it examines the local and global asymptotical behavior of both macro- and micro- level mathematical models, theoretically as well as using simulation. It also focuses on systems with one or more time delays for which new methodology has to be developed to investigate their asymptotic properties. The book offers a comprehensive summary of the existing methodology with extensions to the more complex model variants, since considerations on bounded rationality of complex economic behavior provide the foundation underlying choice-theoretic and policy-oriented studies of macro behavior, which impact the real macro economy. It includes 13 chapters addressing traditional models such as monopoly, duopoly and oligopoly in microeconomics and Keynesian, Goodwinian, and Kaldor–Kaleckian models in macroeconomics. Each chapter presents new aspects of these traditional models that have never been seen before. This work renews the past wisdom and reveals tomorrow's knowledge.
Essays in Honour of Fabio Canova
Author: Juan J. DoladoPublisher: Emerald Group Publishing
ISBN: 1803826371
Category : Business & Economics
Languages : en
Pages : 200
Book Description
Both parts of Volume 44 of Advances in Econometrics pay tribute to Fabio Canova for his major contributions to economics over the last four decades.
Development Macroeconomics
Author: Subrata GhatakPublisher: Routledge
ISBN: 1134061145
Category : Business & Economics
Languages : en
Pages : 412
Book Description
This brings together relevant papers on macro-, monetary and development economics from many eminent economists from all over the world who are closely associated with the works of Late Professor Anita Ghatak of Greenwich University, UK who was an expert in the field of macroeconomics and econometrics. It comprises a variety of articles which are highly significant in the analysis of macroeconomic policies both in developed and in-transition economies. There are several main topics covered in this book such as the test of new theories of economic growth and convergence and the use of dynamic and rigorous time-series econometric methods for analysing money demand functions in transition economies. This work details the meaning of economic development and the comparative analysis of the recent growth of India and China, also the modelling of the macroeconomics of poverty reduction and the monetary policy rules in transition economies. Lastly, the research analyses the Asian Financial crisis, the impact of migration on investment and economic growth and international consumption patterns.