Three Essays On The Long Run Behavior Of Macroeconomic Variables
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Three Essays On The Long Run Behavior Of Macroeconomic Variables
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Author : Sung-In Jun
language : en
Publisher:
Release Date : 1989
Three Essays On The Long Run Behavior Of Macroeconomic Variables written by Sung-In Jun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
Three Essays On Time Series Macroeconomics
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Author : Pedro H. Albuquerque
language : en
Publisher:
Release Date : 2022
Three Essays On Time Series Macroeconomics written by Pedro H. Albuquerque and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
The first two chapters of this thesis propose new time-series methods and apply them to macroeconomic problems, while the third chapter evaluates the predictions of a dynamic general equilibrium model. The first chapter develops a practical log-linear aggregation procedure, which is applied to the heterogeneous growth problem in the U.S. The second chapter presents a simple nonparametric long-run correlation estimator with optimal lag-selection and alignment criteria, and uses it to measure interconnections between American and Latin-American stock returns. The third chapter uses a dynamic general equilibrium model to analyze the effects of bank account debits taxation. Time-series techniques are employed to empirically evaluate the model predictions. In the first chapter, a practical aggregation method for heterogeneous log-linear functions is presented. Inequality measures are employed in the construction of an exact representation of the aggregate behavior of an economy formed by heterogeneous log-linear agents. The exact aggregate representation is relatively simple and intuitive. It can be used thereafter in applied issues and in teaching, easing the solving and understanding of aggregation problems. Three macroeconomic applications are discussed: the aggregation of the Lucas supply function, the time-inconsistent behavior of an egalitarian social planner facing heterogeneous discount rates, and the case of a simple heterogeneous growth model. The latter application, which leads to a decomposition of growth rates of the mean into means of growth rates plus inequality changes, is explored empirically. Aggregate CPS data is used to show that, when inequality changes are taken in consideration, the slowdown that followed the first oil shock appears to be worse than usually thought. Additionally, the “new economy” growth resurgence seems less impressive when compared to the growth performance of the period that preceded the first oil shock. In the second chapter, a simple consistent nonparametric estimator of the long-run correlation between two variables is proposed, based on the estimation of the bivariate k-lag difference correlation. It is shown that the estimator is asymptotically equivalent to the Bartlett kernel spectral estimator of the complex coherency at frequency zero. The asymptotic distribution is derived, with a test for the absence of long-run correlation. Optimal lag-selection and alignment criteria are presented. Monte Carlo experiments show that the asymptotic approximations are satisfactory, sometimes even for small samples. They also reveal that the lag-selection and alignment criteria are effective. Long-run correlations between American and Latin-American stock returns are considered. The estimates increase substantially in the second half of the nineties. The results could indicate the presence of a correlation component common to Latin-American markets, which was important in the second half of the period but not in the first. The significant development of investment funds specialized in Latin-American markets and the much-improved foreign access after capital account liberalization in the region may be among the explanations for these patterns. The third chapter uses a dynamic general equilibrium model to study the economic effects of bank account debits (BAD) taxation. Australia and various Latin-American countries have levied or levy BAD taxes. Theoretical aspects such as tax cascading, financial disintermediation, market illiquidity, impacts on dividend and interest rates, tax revenue, government deficit, and effective rates on final transactions are considered. The Brazilian BAD tax (CPMF) experience is evaluated. The empirical analysis shows that revenue productivity appears to be very sensitive to the tax rate, engendering a Laffer curve. It is also shown that there may be impacts on real interest rates. Part of the BAD tax revenue can be lost due to increased interest payments on government debt. Furthermore, the deadweight losses seem to be significant if compared to revenues. Theory and evidence indicate that the BAD acronym is perhaps more than a witticism.
Three Essays In Time Series Macroeconomics
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Author : Junichiro Ishida
language : en
Publisher:
Release Date : 2000
Three Essays In Time Series Macroeconomics written by Junichiro Ishida and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
The second chapter of the thesis considers the negative correlation between inflation and the average propensity to consume in the U.S. economy. While many explanations are offered for this observation, it is hard to be reconciled within the framework of a rational expectations model. In this paper, however, we argue that this correlation can be derived as an implication of the permanent income hypothesis. This conjecture is tested by identifying the dynamic response of consumption to different types of shock. The data show that this interpretation is largely consistent. This procedure also allows us to identify transitory consumption and the source of the failure of the permanent income hypothesis.
Three Essays On Structural Change In Long Run Macroeconomic Time Series
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Author : Natalie D. Hegwood
language : en
Publisher:
Release Date : 1998
Three Essays On Structural Change In Long Run Macroeconomic Time Series written by Natalie D. Hegwood and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Time-series analysis categories.
Three Essays On The Study Of Macroeconomic Variables Using Time Series Models
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Author : Ting Qin
language : en
Publisher:
Release Date : 2007
Three Essays On The Study Of Macroeconomic Variables Using Time Series Models written by Ting Qin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
Three Essays On
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Author : Moonsuk Oh
language : en
Publisher:
Release Date : 1991
Three Essays On written by Moonsuk Oh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
Three Essays On The Macroeconomic Effects Of Financial Structure
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Author : William Osterberg
language : en
Publisher:
Release Date : 1986
Three Essays On The Macroeconomic Effects Of Financial Structure written by William Osterberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with categories.
The Megacorp And Macrodynamics
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Author : William Milberg
language : en
Publisher: Routledge
Release Date : 2016-09-16
The Megacorp And Macrodynamics written by William Milberg and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-16 with Business & Economics categories.
These essays on Post-Keynesian economics were written expressly for a volume to honour the life and work of Alfred Eichner. The original countributions - that critically examine and extend ideas in Eichner's "The Macrodynamics of Advanced Market Economies" are organized in seven sections that correspond to areas of economics in which Eichner made a significant contribution. Part 1 deals with the megacorp, a theory of firm pricing and investment that was one of Eichner's most important contributions. Issues of productivity and technical change, that lie at the center of Eichner's macrodynamic model, are the focus of part 1 and parts 3 and 4 elaborate on Eichner's work on growth and money and yield insights into the theoretical disagreements among the Post-Keynesians themselves. Part 5 presents a number of examples of non-neo-classical model building. Part 6 opens with a critique of the "new economic history" that leads to other essays on thorny methodological issues confronting Post-Keynesians. Part 7 gives a European perspective on North American Post-Keynesian economics. The essays reveal the relationships between Eichner's work and Institutionalist and Marxian economics. At the same time, the book raises current theoretical conflicts among these groups as well as among Post-Keynesians themselves. This book compliments Alfred S.Eichner's "The Macrodynamics of Advanced Market Economies", also published in 1991, and is appropriate for scholars and upper-level undergraduates and graduate students.
Essays In Economics
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Author : James Tobin
language : en
Publisher: MIT Press
Release Date : 1987
Essays In Economics written by James Tobin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Business & Economics categories.
Volume 2 of James Tobin's Essays in Economics brings together twenty papers published between 1940 and 1972. These cover macroeconomics, particularly the theory of the relationship between unemployment and inflation and the dilemma their connection poses for policy; consumption function, which is also related to macroeconomic theory and to the theory of individual behavior; consumer theory and statistical method applied to the problem of rationing; and the development and application of econometric methods suitable for the empirical analysis of consumer behavior.James Tobin received the Nobel Prize in 1981 and is Sterling Professor of Economics at Yale. Essays in Economics, Volume 1: Macroeconomics and Volume 3: Theory and Policy are both available from The MIT Press.
Three Essays In Macroeconomics And Finance
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Author : David Henry Bowman
language : en
Publisher:
Release Date : 1993
Three Essays In Macroeconomics And Finance written by David Henry Bowman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.