subject:(Equilibrium Economics )

Oregon State University

1. Waters, Edward C. Tax and budget policy in Oregon : a computable general equilibrium perspectives.

Degree: PhD, Agricultural and Resource Economics, 1994, Oregon State University

URL: http://hdl.handle.net/1957/18956

► In November 1990, Oregon voters approved Ballot Measure 5, placing an ultimate ceiling on local property tax rates of 1.5% of market value (excluding specific… (more)

Subjects/Keywords: Equilibrium (Economics)

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APA (6^th Edition):

Waters, E. C. (1994). Tax and budget policy in Oregon : a computable general equilibrium perspectives. (Doctoral Dissertation). Oregon State University. Retrieved from http://hdl.handle.net/1957/18956

Chicago Manual of Style (16^th Edition):

Waters, Edward C. “Tax and budget policy in Oregon : a computable general equilibrium perspectives.” 1994. Doctoral Dissertation, Oregon State University. Accessed March 09, 2021. http://hdl.handle.net/1957/18956.

MLA Handbook (7^th Edition):

Waters, Edward C. “Tax and budget policy in Oregon : a computable general equilibrium perspectives.” 1994. Web. 09 Mar 2021.

Vancouver:

Waters EC. Tax and budget policy in Oregon : a computable general equilibrium perspectives. [Internet] [Doctoral dissertation]. Oregon State University; 1994. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/1957/18956.

Council of Science Editors:

Waters EC. Tax and budget policy in Oregon : a computable general equilibrium perspectives. [Doctoral Dissertation]. Oregon State University; 1994. Available from: http://hdl.handle.net/1957/18956

Simon Fraser University

2. Newman, Geoffrey. Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory.

Degree: 1981, Simon Fraser University

URL: http://summit.sfu.ca/item/3988

Subjects/Keywords: Equilibrium (Economics)

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APA (6^th Edition):

Newman, G. (1981). Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory. (Thesis). Simon Fraser University. Retrieved from http://summit.sfu.ca/item/3988

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Newman, Geoffrey. “Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory.” 1981. Thesis, Simon Fraser University. Accessed March 09, 2021. http://summit.sfu.ca/item/3988.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Newman, Geoffrey. “Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory.” 1981. Web. 09 Mar 2021.

Vancouver:

Newman G. Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory. [Internet] [Thesis]. Simon Fraser University; 1981. [cited 2021 Mar 09]. Available from: http://summit.sfu.ca/item/3988.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Newman G. Individualism and the theory of short-run aggregate economic coordination : a methodological study of the institutional and informational foundations of general equilibrium theory. [Thesis]. Simon Fraser University; 1981. Available from: http://summit.sfu.ca/item/3988

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Simon Fraser University

3. Heijdra, Bernardus Johannes. Empirical and theoretical aspects of non-Walrasian economics.

Degree: 1984, Simon Fraser University

URL: http://summit.sfu.ca/item/5867

Subjects/Keywords: Equilibrium (Economics)

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APA (6^th Edition):

Heijdra, B. J. (1984). Empirical and theoretical aspects of non-Walrasian economics. (Thesis). Simon Fraser University. Retrieved from http://summit.sfu.ca/item/5867

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Heijdra, Bernardus Johannes. “Empirical and theoretical aspects of non-Walrasian economics.” 1984. Thesis, Simon Fraser University. Accessed March 09, 2021. http://summit.sfu.ca/item/5867.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Heijdra, Bernardus Johannes. “Empirical and theoretical aspects of non-Walrasian economics.” 1984. Web. 09 Mar 2021.

Vancouver:

Heijdra BJ. Empirical and theoretical aspects of non-Walrasian economics. [Internet] [Thesis]. Simon Fraser University; 1984. [cited 2021 Mar 09]. Available from: http://summit.sfu.ca/item/5867.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Heijdra BJ. Empirical and theoretical aspects of non-Walrasian economics. [Thesis]. Simon Fraser University; 1984. Available from: http://summit.sfu.ca/item/5867

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

4. Yang, Xintong. Essays on Factor Reallocation and General Equilibrium Analysis.

Degree: 2015, University of California – eScholarship, University of California

URL: http://www.escholarship.org/uc/item/8hf277jc

► My dissertation studies the sectoral and regional reallocation of capital and labor for an economy in transition using general equilibrium model framework. The first chapter,… (more)

▼ My dissertation studies the sectoral and regional reallocation of capital and labor for an economy in transition using general equilibrium model framework. The first chapter, ``Capital in Transition: Housing and Sectoral Reallocation in the Long Run'', studies the sectoral allocation of capital between housing and non-residential sectors using a two-sector general equilibrium model in a neoclassical growth environment. Calibrated to both the United States and China, the model can account for both the positive correlation between the share of housing capital and the consumption-output ratio in the United States and the negative correlation between the share of housing capital and the consumption-output ratio in China. The calibration to the Chinese economy implies that the rapid increase in the share of housing capital and the simultaneous decrease in the consumption-output ratio observed in China can be rationalized by a combination of three factors: a high elasticity of substitution between the two sectors, a high capital intensity of production of the housing sector, and a low initial share of housing capital before the Chinese housing market reform. This paper provides a tractable framework to understand the sectoral allocation of capital between housing and non-residential sectors across countries.The second chapter, ``Human Capital Spillover and Housing price'', provides a model framework to study the relationship between the external effect of human capital and housing price growth in the SEZ economy in China. In a two-region model, high wage in the SEZ region reflects high level of human capital, and these jobs are not available to low human capital migrants from the non-SEZ economy. The migrants come to the SEZ economy for two reasons: on the one hand, the SEZ economy is a better place to accumulate human capital and earn a higher wage in the future; on the other hand, the SEZ economy has a better amenities for living. In the baseline model with migration, the share of population that choose to migrate to the SEZ economy is determined by the utility equalization between living in either economy. In the baseline model, the migration occurs all at once at the first period. Further, I extend the baseline model by incorporating the spillover effect of human capital: time invested in human capital accumulation has a higher return in high human capital environment. In this case, the migration to the SEZ economy becomes increasingly attractive as the gap between the human capital leaders and followers increase. By comparing the extended model with the baseline, I capture the significant positive impact of human capital spillover on the increase of housing prices.The third chapter, `'Dynamic Arrow-Debreu Economy for General Equilibrium Analysis'', coauthored with Cheng-Zhong Qin, develops a dynamic Arrow-Debreu abstract economy to more closely capture the timing of moves of Walrasian general equilibrium model. Instead of inducing a pseudo game, the extensive form of the dynamic Arrow-Debreu abstract economy is well…

Subjects/Keywords: Economics; Factor Reallocation; General Equilibrium; Housing

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APA (6^th Edition):

Yang, X. (2015). Essays on Factor Reallocation and General Equilibrium Analysis. (Thesis). University of California – eScholarship, University of California. Retrieved from http://www.escholarship.org/uc/item/8hf277jc

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Yang, Xintong. “Essays on Factor Reallocation and General Equilibrium Analysis.” 2015. Thesis, University of California – eScholarship, University of California. Accessed March 09, 2021. http://www.escholarship.org/uc/item/8hf277jc.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Yang, Xintong. “Essays on Factor Reallocation and General Equilibrium Analysis.” 2015. Web. 09 Mar 2021.

Vancouver:

Yang X. Essays on Factor Reallocation and General Equilibrium Analysis. [Internet] [Thesis]. University of California – eScholarship, University of California; 2015. [cited 2021 Mar 09]. Available from: http://www.escholarship.org/uc/item/8hf277jc.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Yang X. Essays on Factor Reallocation and General Equilibrium Analysis. [Thesis]. University of California – eScholarship, University of California; 2015. Available from: http://www.escholarship.org/uc/item/8hf277jc

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Oxford

5. Neary, J. Peter. Factor market disequilibrium in neoclassical and neo-Keynesian models.

Degree: PhD, 1978, University of Oxford

URL: http://ora.ox.ac.uk/objects/uuid:ca076ad4-538e-4b05-9286-4df70a34bfa1 ; http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.466910

► This thesis explores two different approaches to the study of simple general equilibrium models in situations where "full" or "long-run" equilibrium does not prevail. The… (more)

Subjects/Keywords: 339.5; Equilibrium (Economics)

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APA (6^th Edition):

Neary, J. P. (1978). Factor market disequilibrium in neoclassical and neo-Keynesian models. (Doctoral Dissertation). University of Oxford. Retrieved from http://ora.ox.ac.uk/objects/uuid:ca076ad4-538e-4b05-9286-4df70a34bfa1 ; http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.466910

Chicago Manual of Style (16^th Edition):

Neary, J Peter. “Factor market disequilibrium in neoclassical and neo-Keynesian models.” 1978. Doctoral Dissertation, University of Oxford. Accessed March 09, 2021. http://ora.ox.ac.uk/objects/uuid:ca076ad4-538e-4b05-9286-4df70a34bfa1 ; http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.466910.

MLA Handbook (7^th Edition):

Neary, J Peter. “Factor market disequilibrium in neoclassical and neo-Keynesian models.” 1978. Web. 09 Mar 2021.

Vancouver:

Neary JP. Factor market disequilibrium in neoclassical and neo-Keynesian models. [Internet] [Doctoral dissertation]. University of Oxford; 1978. [cited 2021 Mar 09]. Available from: http://ora.ox.ac.uk/objects/uuid:ca076ad4-538e-4b05-9286-4df70a34bfa1 ; http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.466910.

Council of Science Editors:

Neary JP. Factor market disequilibrium in neoclassical and neo-Keynesian models. [Doctoral Dissertation]. University of Oxford; 1978. Available from: http://ora.ox.ac.uk/objects/uuid:ca076ad4-538e-4b05-9286-4df70a34bfa1 ; http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.466910

Hong Kong University of Science and Technology

6. Liu, Yun ECON. Some puzzles in production-based economy.

Degree: 2016, Hong Kong University of Science and Technology

URL: http://repository.ust.hk/ir/Record/1783.1-97870 ; https://doi.org/10.14711/thesis-b1610460 ; http://repository.ust.hk/ir/bitstream/1783.1-97870/1/th_redirect.html

► This dissertation is composed of three essays, which revolve around developing DSGE models to understand the fluctuations in business cycles, mainly in terms of volatility… (more)

▼ This dissertation is composed of three essays, which revolve around developing DSGE models to understand the fluctuations in business cycles, mainly in terms of volatility and comovement. Chapter 1 titled "Land Price and Asset Pricing Puzzles" presents a production-based general equilibrium asset pricing model with land. I show that this model can explain key financial markets phenomena of a lower-than-unity intertemporal elasticity of substitution (IES), which is proven to be a challenge in the long-run risks literature. The success of the model comes from the competition for land between household and firm, which raises the land price and further implies high and volatile land return. Consequently, the model solves the equity premium puzzle and volatility puzzle. Moreover, the model can explain that volatility risk in productivity growth carries a positive risk premium; and the model can also be extended to generate cross-sectional differences in firms' returns. In addition to the success in financial markets, I show that the model captures the salient business cycle properties, such as the relative volatility and comovement among land price, consumption and investment. All the results are robust with a greater-than-unity IES. Chapter 2 titled "Household and Business Investment Dynamics in a Demand Rigidity RBC Model" builds a stochastic model with demand rigidity to explain the dynamics of business investment and household investment in the U.S. macroeconomic data. In contrast to the standard RBC model, my benchmark model generates the positive comovement with GDP and the correct lead-lag pattern between two kinds of investment, which are long standing puzzles in the existing literature. Demand rigidity, characterized by firm entry-and-exit, could play a role in reducing the demand for business investment goods. It dampens the crowding-out effect between two types of investment in the standard RBC setting and hence generates the data-consistent patterns. This paper further investigates an alternative framework to check the robustness of the role of demand rigidity, and also applies the baseline model to replicate the cross-country differences in lead-lag patterns. Chapter 3 titled "Comovement and Multiple-Product Firms" introduces a general equilibrium model of multiple-product firms, which can help to solve the comovement puzzle usually associated with news shock. Although empirical evidences have shown that multiple-product firms dominate worldwide output and trade, they have received relatively little theoretical attention, especially in the strands of business cycle literature. I show that a highly stylized model with the structure of multiple-product firms can restore the comovements among investment, consumption, employment, number of firms and output, because in this framework consumption and investment become productive complementarity even they are substitutes for consumers. I also apply the multiple-product model to respond to other prevailing shocks such as…

Subjects/Keywords: Equilibrium (Economics) ; Mathematical models ; Business cycles ; Econometrics

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APA (6^th Edition):

Liu, Y. E. (2016). Some puzzles in production-based economy. (Thesis). Hong Kong University of Science and Technology. Retrieved from http://repository.ust.hk/ir/Record/1783.1-97870 ; https://doi.org/10.14711/thesis-b1610460 ; http://repository.ust.hk/ir/bitstream/1783.1-97870/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Liu, Yun ECON. “Some puzzles in production-based economy.” 2016. Thesis, Hong Kong University of Science and Technology. Accessed March 09, 2021. http://repository.ust.hk/ir/Record/1783.1-97870 ; https://doi.org/10.14711/thesis-b1610460 ; http://repository.ust.hk/ir/bitstream/1783.1-97870/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Liu, Yun ECON. “Some puzzles in production-based economy.” 2016. Web. 09 Mar 2021.

Vancouver:

Liu YE. Some puzzles in production-based economy. [Internet] [Thesis]. Hong Kong University of Science and Technology; 2016. [cited 2021 Mar 09]. Available from: http://repository.ust.hk/ir/Record/1783.1-97870 ; https://doi.org/10.14711/thesis-b1610460 ; http://repository.ust.hk/ir/bitstream/1783.1-97870/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Liu YE. Some puzzles in production-based economy. [Thesis]. Hong Kong University of Science and Technology; 2016. Available from: http://repository.ust.hk/ir/Record/1783.1-97870 ; https://doi.org/10.14711/thesis-b1610460 ; http://repository.ust.hk/ir/bitstream/1783.1-97870/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Hong Kong

7. Chen, Linfeng. Three essays on network economics.

Degree: 2016, University of Hong Kong

URL: http://hdl.handle.net/10722/236578

► My paper, "Merchant, Platform or Hybrid Mode?", studies how nonlinearity and asymmetry of demands and endogenous entry of suppliers impact the intermediary's choice to be… (more)

▼ My paper, "Merchant, Platform or Hybrid Mode?", studies how nonlinearity and asymmetry of demands and endogenous entry of suppliers impact the intermediary's choice to be a platform, a merchant, or a hybrid intermediary, and identifies conditions for each mode of market making to be chosen. When the number of suppliers is fixed and demands for the suppliers' commodities are linear, it is optimal for the intermediary to be a platform. In contrast, when consumers possess nonlinear demands originating from symmetric Cobb-Douglas utility functions, it is optimal for the intermediary to be a merchant if the parameter is small; otherwise it is optimal to be a hybrid. In the case of asymmetric Cobb-Douglas utility functions, we also identify conditions under which it is optimal to be a hybrid intermediary. Finally, in a setting of endogenous supplier entries (while maintaining the assumption of linear demands), we also provide the necessary and sufficient condition under which it is optimal for the intermediary to be a merchant. Our findings provide new explanations for the empirically observed co-existence of three modes of intermediation chosen by different market makers. We show that the intermediary would choose the merchant mode (platform mode) while the government which maximizes social welfare should force the intermediary to choose the platform mode (merchant mode). My paper, "The Utility Competition, Price Competition and Quantity Competition", proposes the framework of utility competition which is easier to model with unique equilibrium even facing network externality; then I provide the intuition why price competition (PC), quantity competition (QC) and utility competition (UC) differ, and prove it with nonlinear demand system. If externality is positive, then PC is the most efficient one with lowest equilibrium price, QC is the least efficient one with highest equilibrium price, and UC is in the middle. While if externality is negative, then UC is the most efficient one with lowest equilibrium price, QC is still the least efficient one with highest equilibrium price, and PC is in the middle. And if firms are substitutes, then rank of the equilibrium profit is the same to the rank of price. Otherwise, if firms are complements, then the rand of the equilibrium profit is opposite to the rank of price. My paper, "The Utility Competition and Commitment in Two Sided Market", studies the welfare effect of sequential entry of two sided market and commitment. In two sided markets, instead of joining the platform simultaneously, two groups could join the platform sequentially. For example, group 1 consumers could join the platform before group 2 consumers. Simultaneous entry is equivalent to sequential entry with commitment. Our paper is the first to analyze the welfare effects of sequential entry and commitment. Under monopoly, commitment case is equivalent to no commitment case. With competing firms, there are two cases to consider. For case 1, if two groups are complementary, compared with commitment case, utilities…

Subjects/Keywords: Competition; Equilibrium (Economics)

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APA (6^th Edition):

Chen, L. (2016). Three essays on network economics. (Thesis). University of Hong Kong. Retrieved from http://hdl.handle.net/10722/236578

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Chen, Linfeng. “Three essays on network economics.” 2016. Thesis, University of Hong Kong. Accessed March 09, 2021. http://hdl.handle.net/10722/236578.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Chen, Linfeng. “Three essays on network economics.” 2016. Web. 09 Mar 2021.

Vancouver:

Chen L. Three essays on network economics. [Internet] [Thesis]. University of Hong Kong; 2016. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/10722/236578.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Chen L. Three essays on network economics. [Thesis]. University of Hong Kong; 2016. Available from: http://hdl.handle.net/10722/236578

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of British Columbia

8. Eswaran, Mukesh. Resource utilization in oligopolistic markets : the case of exhaustible resources.

Degree: PhD, Economics, 1981, University of British Columbia

URL: http://hdl.handle.net/2429/22822

► This thesis considers the utilization of an exhaustible resource in an oligopolistic market in which producers are assumed to behave noncooperatively. Within a game-theoretic framework,… (more)

Subjects/Keywords: Oligopolies; Equilibrium (Economics)

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APA (6^th Edition):

Eswaran, M. (1981). Resource utilization in oligopolistic markets : the case of exhaustible resources. (Doctoral Dissertation). University of British Columbia. Retrieved from http://hdl.handle.net/2429/22822

Chicago Manual of Style (16^th Edition):

Eswaran, Mukesh. “Resource utilization in oligopolistic markets : the case of exhaustible resources.” 1981. Doctoral Dissertation, University of British Columbia. Accessed March 09, 2021. http://hdl.handle.net/2429/22822.

MLA Handbook (7^th Edition):

Eswaran, Mukesh. “Resource utilization in oligopolistic markets : the case of exhaustible resources.” 1981. Web. 09 Mar 2021.

Vancouver:

Eswaran M. Resource utilization in oligopolistic markets : the case of exhaustible resources. [Internet] [Doctoral dissertation]. University of British Columbia; 1981. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/2429/22822.

Council of Science Editors:

Eswaran M. Resource utilization in oligopolistic markets : the case of exhaustible resources. [Doctoral Dissertation]. University of British Columbia; 1981. Available from: http://hdl.handle.net/2429/22822

Columbia University

9. Paparas, Dimitrios. On the Complexity of Market Equilibria and Revenue Maximization.

Degree: 2017, Columbia University

URL: https://doi.org/10.7916/D8MW2NVD

► This thesis consists of two parts. In the first part, we concentrate on the computation of Market Equilibria and settle the long-standing open problem regarding… (more)

Subjects/Keywords: Economics, Mathematical; Revenue; Mathematical optimization; Equilibrium (Economics); Computer science; Economics

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APA (6^th Edition):

Paparas, D. (2017). On the Complexity of Market Equilibria and Revenue Maximization. (Doctoral Dissertation). Columbia University. Retrieved from https://doi.org/10.7916/D8MW2NVD

Chicago Manual of Style (16^th Edition):

Paparas, Dimitrios. “On the Complexity of Market Equilibria and Revenue Maximization.” 2017. Doctoral Dissertation, Columbia University. Accessed March 09, 2021. https://doi.org/10.7916/D8MW2NVD.

MLA Handbook (7^th Edition):

Paparas, Dimitrios. “On the Complexity of Market Equilibria and Revenue Maximization.” 2017. Web. 09 Mar 2021.

Vancouver:

Paparas D. On the Complexity of Market Equilibria and Revenue Maximization. [Internet] [Doctoral dissertation]. Columbia University; 2017. [cited 2021 Mar 09]. Available from: https://doi.org/10.7916/D8MW2NVD.

Council of Science Editors:

Paparas D. On the Complexity of Market Equilibria and Revenue Maximization. [Doctoral Dissertation]. Columbia University; 2017. Available from: https://doi.org/10.7916/D8MW2NVD

Rhodes University

10. Torr, Christopher. Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics.

Degree: PhD, Faculty of Commerce, Economics and Economic History, 1984, Rhodes University

URL: http://hdl.handle.net/10962/d1004515

► From Introduction: It is now nearly 50 years since the appearance of Keynes's General Theory of Employment, Interest and Money and the stream of articles… (more)

▼ From Introduction: It is now nearly 50 years since the appearance of Keynes's General Theory of Employment, Interest and Money and the stream of articles and books on what Keynes really meant or didn't mean shows no sign of abating. In part, this dissertation is a contribution to this voluminous literature, but what follows is hardly an attempt to provide an exhaustive interpretation. Instead the General Theory is examined from a certain angle, with the title "Equilibrium, Expectations and Information" providing the framework for the investigation. That the title has been borrowed from G.B. Richdrdson's 1959 Economic Journal article is no accident. Richardson's work has been unduly neglected and his trichotomy serves as a convenient platform from which to analyse Keynes's method and those of his interpreters, in particular the approaches stemming from the work of Clower and Leijonhufvud. The information structure of the Walrasian type of general equilibrium model is also examined as the latter forms the basis of both the neo-classical interpretation of Keynes's contribution and the rational expectations approach that will be discussed. Finally Richardson's framework is applied in an analysis of two modern classical schools of thought, namely the rational expectations approach headed by Lucas, and the neoRicardian school amongst which Garegnani, Eatwell and Milgate, for example, are prominent. In a sentence, therefore, what follows is an examination of the General Theory and certain interpretations thereof as well as an analysis of modern classical macroeconomics, with the equilibrium-expectations-information framework providing the unifying theme. As will become apparent, the framework does not consist of three watertight compartments. For example, whether a system is in equilibrium or not will depend on whether the expectations of those who have the ablility to effect change are realised. The specification of which agents have this power will depend on the information with which the model builder endows the agents in the model. In discussing this, attention is drawn to Keynes's important distinction between an entrepreneur economy and a cooperative economy. The distinction between the information available to the model builder and that with which he endows the agents in the model is also emphasized.

Subjects/Keywords: Macroeconomics; Equilibrium (Economics); Economics

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APA (6^th Edition):

Torr, C. (1984). Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics. (Doctoral Dissertation). Rhodes University. Retrieved from http://hdl.handle.net/10962/d1004515

Chicago Manual of Style (16^th Edition):

Torr, Christopher. “Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics.” 1984. Doctoral Dissertation, Rhodes University. Accessed March 09, 2021. http://hdl.handle.net/10962/d1004515.

MLA Handbook (7^th Edition):

Torr, Christopher. “Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics.” 1984. Web. 09 Mar 2021.

Vancouver:

Torr C. Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics. [Internet] [Doctoral dissertation]. Rhodes University; 1984. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/10962/d1004515.

Council of Science Editors:

Torr C. Equilibrium, expectations and information : a study of the general theory, the neo-classical synthesis and modern classical macroeconomics. [Doctoral Dissertation]. Rhodes University; 1984. Available from: http://hdl.handle.net/10962/d1004515

Penn State University

11. Tyagi, Ashish. Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions.

Degree: 2017, Penn State University

URL: https://submit-etda.libraries.psu.edu/catalog/14356axt259

► The title of the first essay in this dissertation is Institutional Reforms as Adaptation to Water Scarcity: Bounding the Possibilities. There is substantial agreement that… (more)

▼ The title of the first essay in this dissertation is Institutional Reforms as Adaptation to Water Scarcity: Bounding the Possibilities. There is substantial agreement that better water institutions are essential for effectively and efficiently addressing increased water scarcity associated with population growth and climate change. But welfare gains from institutional reforms will be overestimated if the inefficient status-quo is compared against “ideal” but implausible allocations. Non-cooperative bargaining theory can predict feasible welfare gains from reforms but the literature has not yet explored basin structures where inflexibility of existing agreements results in a deadweight loss. A case in point is the institution of Interstate River Compact in the United States. Recent renegotiations suggest that reconsidering compact allocations can be an effective adaptation response to water scarcity. This essay develops a non-cooperative bargaining framework to formalize interstate river compact renegotiations. Equilibrium outcomes from interstate renegotiations followed by intrastate renegotiations among economic sectors place bounds on feasible welfare gains from reforms. Closed-form solutions are applied to a case study of Rio Grande Compact. Comparison between the non-cooperative equilibrium allocation and the optimal allocation indicates that non-cooperative bargaining can achieve allocative efficiency in the basin. However, the distribution of resulting gains depends on the bargaining power of players. This bargaining power is positively related to status-quo allocation, population, area under irrigated agriculture, efficiency of water-use and the degree of aversion to side payments. The second and the third essay in this thesis focus on India’s GHG abatement policy, which is currently heavily skewed towards non-market instruments. Policymakers have started experimenting with theoretically efficient and cost-effective market-based instruments (MBIs) which are likely to play a larger role in the future. But there is little research on intergenerational welfare consequences of using MBIs in India. The second essay, titled India’s Greenhouse Gas Abatement Policies – Considering the Case for Market Based Instruments, studies long-term intergenerational welfare consequences in a hypothetical scenario where India had chosen a carbon tax or an emission trading scheme to achieve its Paris Agreement’s CO2 emission targets. This scenario is modeled using a dynamic perfect-foresight Overlapping Generations (OLG) model with a revenue-neutral price instrument and a quantity instrument. Revenue is recycled through changes in consumption, labor income or capital income tax. Role of modeling assumptions is highlighted by comparing OLG model results with an Infinitely Lived Agent (ILA) approach. Results suggest that the burden of a market-based policy on existing generations is small but welfare of future generations is reduced by 4-5 percent when positive environmental benefits are not taken into account. With environmental… Advisors/Committee Members: James Samuel Shortle, Dissertation Advisor/Co-Advisor, James Samuel Shortle, Committee Chair/Co-Chair, David Gerard Abler, Committee Member, Karen Ann Fisher-Vanden, Committee Member, Mort D Webster, Outside Member, Stephan J Goetz, Committee Member.

Subjects/Keywords: Water Economics; Institutional Economics; Climate Change; Computable General Equilibrium Models; India

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APA (6^th Edition):

Tyagi, A. (2017). Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions. (Thesis). Penn State University. Retrieved from https://submit-etda.libraries.psu.edu/catalog/14356axt259

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Tyagi, Ashish. “Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions.” 2017. Thesis, Penn State University. Accessed March 09, 2021. https://submit-etda.libraries.psu.edu/catalog/14356axt259.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Tyagi, Ashish. “Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions.” 2017. Web. 09 Mar 2021.

Vancouver:

Tyagi A. Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions. [Internet] [Thesis]. Penn State University; 2017. [cited 2021 Mar 09]. Available from: https://submit-etda.libraries.psu.edu/catalog/14356axt259.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Tyagi A. Essays on Greenhouse Gas Emissions Policies in India and Gains from Reforming Water Allocation Institutions. [Thesis]. Penn State University; 2017. Available from: https://submit-etda.libraries.psu.edu/catalog/14356axt259

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Columbia University

12. Kim, Sung Ryong. Essays in Macroeconomics.

Degree: 2018, Columbia University

URL: https://doi.org/10.7916/D8QV53NT

► This dissertation combines micro-level empirical analyses and general equilibrium models to study the issues of output price, price-cost markup, and business cycle dynamics. In the… (more)

▼ This dissertation combines micro-level empirical analyses and general equilibrium models to study the issues of output price, price-cost markup, and business cycle dynamics. In the first chapter, I study how a credit crunch affects output price dynamics. I build a unique micro-level dataset that combines scanner-level prices and quantities with producer information, including the producer's banking relationships, inventory, and cash holdings. I exploit the Lehman Brothers' failure as a quasi-experiment and find that firms facing a negative credit supply shock decrease their output prices approximately 15% relative to their unaffected counterparts. I hypothesize that such firms reduce prices to liquidate inventory and to generate additional cash flow from the product market. I find strong empirical support for this hypothesis: (i) firms facing a negative bank shock temporarily decrease their prices and inventory and increase their market share and cash holdings relative to their counterparts, and (ii) this effect is stronger for firms and sectors with high initial inventory or small initial cash holdings. To discuss the aggregate implications of these findings, I integrate this micro-level study into a business cycle model by explicitly allowing for two identical groups of producers facing different degrees of credit supply shock. The model predicts that a negative credit supply shock leads to a large temporary drop in aggregate inflation – as a result of the aggressive liquidation of inventory – followed by an increase in inflation as producers eventually run out of inventory. This prediction for inflation and inventory dynamics is fully consistent with observations for the 2007-09 recession. In the second chapter, I study price-cost markup cyclicality. Existing empirical evidence on price-cost markup cyclicality is mixed. I find that markups are procyclical unconditionally, and procyclical conditional on demand shock using a flexible production function. The estimated production function features a larger input complementarity than that in a tightly parametrized production function (Cobb-Douglas and CES), producing both greater efficiency and higher markups during an expansion. These results have two striking implications: (i) much of the cyclicality in markups arises from input complementarity, rather than nominal rigidity, and (ii) the U.S. economy behaves as if it has increasing returns to scale. The third chapter studies the business cycle with a Translog production function. We empirically identify a complementarity between labor and energy that leads to procyclical returns to scale, which is not compatible with the tightly parameterized production function commonly used in the literature (Cobb-Douglas and CES). We, therefore, propose a flexible Translog production function that not only features complementarity-induced procyclical returns to scale but is also consistent with a balanced growth path. A simple calibrated business cycle model with the proposed production function generates strikingly…

Subjects/Keywords: Economics; Macroeconomics; Equilibrium (Economics) – Mathematical models; Business cycles

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APA (6^th Edition):

Kim, S. R. (2018). Essays in Macroeconomics. (Doctoral Dissertation). Columbia University. Retrieved from https://doi.org/10.7916/D8QV53NT

Chicago Manual of Style (16^th Edition):

Kim, Sung Ryong. “Essays in Macroeconomics.” 2018. Doctoral Dissertation, Columbia University. Accessed March 09, 2021. https://doi.org/10.7916/D8QV53NT.

MLA Handbook (7^th Edition):

Kim, Sung Ryong. “Essays in Macroeconomics.” 2018. Web. 09 Mar 2021.

Vancouver:

Kim SR. Essays in Macroeconomics. [Internet] [Doctoral dissertation]. Columbia University; 2018. [cited 2021 Mar 09]. Available from: https://doi.org/10.7916/D8QV53NT.

Council of Science Editors:

Kim SR. Essays in Macroeconomics. [Doctoral Dissertation]. Columbia University; 2018. Available from: https://doi.org/10.7916/D8QV53NT

Hong Kong University of Science and Technology

13. Huang, Wei ECON. Towards an economic theory of consciousness in decision making.

Degree: 2011, Hong Kong University of Science and Technology

URL: http://repository.ust.hk/ir/Record/1783.1-94425 ; https://doi.org/10.14711/thesis-b1155728 ; http://repository.ust.hk/ir/bitstream/1783.1-94425/1/th_redirect.html

► We apply the methodology of information economics in an intra-person multiple-self setting to model the relation between one's economic well being and state of consciousness,… (more)

Subjects/Keywords: Consciousness ; Economic aspects ; Economics ; Decision making ; Equilibrium (Economics) ; Mathematical models

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APA (6^th Edition):

Huang, W. E. (2011). Towards an economic theory of consciousness in decision making. (Thesis). Hong Kong University of Science and Technology. Retrieved from http://repository.ust.hk/ir/Record/1783.1-94425 ; https://doi.org/10.14711/thesis-b1155728 ; http://repository.ust.hk/ir/bitstream/1783.1-94425/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Huang, Wei ECON. “Towards an economic theory of consciousness in decision making.” 2011. Thesis, Hong Kong University of Science and Technology. Accessed March 09, 2021. http://repository.ust.hk/ir/Record/1783.1-94425 ; https://doi.org/10.14711/thesis-b1155728 ; http://repository.ust.hk/ir/bitstream/1783.1-94425/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Huang, Wei ECON. “Towards an economic theory of consciousness in decision making.” 2011. Web. 09 Mar 2021.

Vancouver:

Huang WE. Towards an economic theory of consciousness in decision making. [Internet] [Thesis]. Hong Kong University of Science and Technology; 2011. [cited 2021 Mar 09]. Available from: http://repository.ust.hk/ir/Record/1783.1-94425 ; https://doi.org/10.14711/thesis-b1155728 ; http://repository.ust.hk/ir/bitstream/1783.1-94425/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Huang WE. Towards an economic theory of consciousness in decision making. [Thesis]. Hong Kong University of Science and Technology; 2011. Available from: http://repository.ust.hk/ir/Record/1783.1-94425 ; https://doi.org/10.14711/thesis-b1155728 ; http://repository.ust.hk/ir/bitstream/1783.1-94425/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Temple University

14. Delgado, Lisa A. Matching Market for Skills.

Degree: PhD, 2009, Temple University

URL: http://digital.library.temple.edu/u?/p245801coll10,41030

►

Economics

This dissertation builds a model of information exchange, where the information is skills. A two-sided matching market for skills is employed that includes two… (more)

Subjects/Keywords: Economics, Theory; algorithmic game; correlated equilibrium; game theory; matching market; Nash equilibrium; skills market

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APA (6^th Edition):

Delgado, L. A. (2009). Matching Market for Skills. (Doctoral Dissertation). Temple University. Retrieved from http://digital.library.temple.edu/u?/p245801coll10,41030

Chicago Manual of Style (16^th Edition):

Delgado, Lisa A. “Matching Market for Skills.” 2009. Doctoral Dissertation, Temple University. Accessed March 09, 2021. http://digital.library.temple.edu/u?/p245801coll10,41030.

MLA Handbook (7^th Edition):

Delgado, Lisa A. “Matching Market for Skills.” 2009. Web. 09 Mar 2021.

Vancouver:

Delgado LA. Matching Market for Skills. [Internet] [Doctoral dissertation]. Temple University; 2009. [cited 2021 Mar 09]. Available from: http://digital.library.temple.edu/u?/p245801coll10,41030.

Council of Science Editors:

Delgado LA. Matching Market for Skills. [Doctoral Dissertation]. Temple University; 2009. Available from: http://digital.library.temple.edu/u?/p245801coll10,41030

NSYSU

15. Depaul, Marcus. A Dynamic Resource Management Approach to the Prescription Drugs Market.

Degree: Master, Economics, 2013, NSYSU

URL: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0517113-113915

► Pharmaceutical expenditures are one of the main voices in social expenditure balance sheets. Accordingly the pharmaceutical market is of major interest to policy makers. This… (more)

Subjects/Keywords: dynamic equilibrium; health care; welfare; pharmaceutical industry; social optimum; behavioral economics

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APA (6^th Edition):

Depaul, M. (2013). A Dynamic Resource Management Approach to the Prescription Drugs Market. (Thesis). NSYSU. Retrieved from http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0517113-113915

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Depaul, Marcus. “A Dynamic Resource Management Approach to the Prescription Drugs Market.” 2013. Thesis, NSYSU. Accessed March 09, 2021. http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0517113-113915.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Depaul, Marcus. “A Dynamic Resource Management Approach to the Prescription Drugs Market.” 2013. Web. 09 Mar 2021.

Vancouver:

Depaul M. A Dynamic Resource Management Approach to the Prescription Drugs Market. [Internet] [Thesis]. NSYSU; 2013. [cited 2021 Mar 09]. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0517113-113915.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Depaul M. A Dynamic Resource Management Approach to the Prescription Drugs Market. [Thesis]. NSYSU; 2013. Available from: http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0517113-113915

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Temple University

16. Cardamone, Emina Imsirovic. Games of Charitable Giving.

Degree: PhD, 2010, Temple University

URL: http://digital.library.temple.edu/u?/p245801coll10,78418

►

Economics

This dissertation develops models of charitable giving in the presence of uncertainty. The model of chapter 2 studies a two-stage signaling game of charitable… (more)

Subjects/Keywords: Economics, Theory; Charitable Giving; Imperfect Information; Sequential Equilibrium

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APA (6^th Edition):

Cardamone, E. I. (2010). Games of Charitable Giving. (Doctoral Dissertation). Temple University. Retrieved from http://digital.library.temple.edu/u?/p245801coll10,78418

Chicago Manual of Style (16^th Edition):

Cardamone, Emina Imsirovic. “Games of Charitable Giving.” 2010. Doctoral Dissertation, Temple University. Accessed March 09, 2021. http://digital.library.temple.edu/u?/p245801coll10,78418.

MLA Handbook (7^th Edition):

Cardamone, Emina Imsirovic. “Games of Charitable Giving.” 2010. Web. 09 Mar 2021.

Vancouver:

Cardamone EI. Games of Charitable Giving. [Internet] [Doctoral dissertation]. Temple University; 2010. [cited 2021 Mar 09]. Available from: http://digital.library.temple.edu/u?/p245801coll10,78418.

Council of Science Editors:

Cardamone EI. Games of Charitable Giving. [Doctoral Dissertation]. Temple University; 2010. Available from: http://digital.library.temple.edu/u?/p245801coll10,78418

Temple University

17. Qiu, Shuo. Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency.

Degree: PhD, 2008, Temple University

URL: http://digital.library.temple.edu/u?/p245801coll10,9768

►

Business Administration

The three essays of this dissertation investigate the insurance equilibrium from various perspectives. The first essay uses Cournot game-theoretic model to study the… (more)

Subjects/Keywords: Business Administration, General; Economics, General; Insurance; Equilibrium; Contract Formation; Heterogeneity; Efficiency

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APA (6^th Edition):

Qiu, S. (2008). Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency. (Doctoral Dissertation). Temple University. Retrieved from http://digital.library.temple.edu/u?/p245801coll10,9768

Chicago Manual of Style (16^th Edition):

Qiu, Shuo. “Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency.” 2008. Doctoral Dissertation, Temple University. Accessed March 09, 2021. http://digital.library.temple.edu/u?/p245801coll10,9768.

MLA Handbook (7^th Edition):

Qiu, Shuo. “Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency.” 2008. Web. 09 Mar 2021.

Vancouver:

Qiu S. Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency. [Internet] [Doctoral dissertation]. Temple University; 2008. [cited 2021 Mar 09]. Available from: http://digital.library.temple.edu/u?/p245801coll10,9768.

Council of Science Editors:

Qiu S. Insurance Market Equilibrium: Contract Formation, Heterogeneity, and Operational Efficiency. [Doctoral Dissertation]. Temple University; 2008. Available from: http://digital.library.temple.edu/u?/p245801coll10,9768

University of Michigan

18. Xu, Zhengyang. Essays in Expectation Formation and Asset Pricing.

Degree: PhD, Business Administration, 2020, University of Michigan

URL: http://hdl.handle.net/2027.42/155062

► This dissertation examines the role of investors' belief formation in asset valuation. In the first chapter, I document that subjective bond risk premia implied by… (more)

▼ This dissertation examines the role of investors' belief formation in asset valuation. In the first chapter, I document that subjective bond risk premia implied by survey forecasts of future Treasury yields are acyclical at the one-year horizon. This is in stark contrast to large countercyclical variation in objective risk premia fitted from in-sample predictive regressions of future bond excess returns. This difference in risk premia implies a wedge between subjective and objective expectations of future short rates, which I show is predictable by trend and cycle components of macroeconomic forecasts. I show that these empirical findings can be explained with a learning model in which the agent filters latent trend and cycle components of fundamentals in real time, while an econometrician analyzing the data ex-post has full knowledge of the data-generating processes. The model also yields predictions, consistent with the data, on the joint behavior of the unconditional yield curve slope, the cyclicality of short-rate and macroeconomic expectation wedges, and the cyclicality of objective risk premia. My results suggest that equilibrium models of bond risk premia should target acyclical subjective risk premia and expectation formation, rather than ex-post in-sample fitted risk premia from predictive regressions. The second chapter (co-authored with Stefan Nagel) builds on recent evidence that lifetime experience shapes individuals’ macroeconomic expectations and it explores the asset-pricing implications of this evidence for the aggregate US stock market. We study an economy in which a representative agent learns – but with fading memory – about the constant underlying endowment growth rate. The agent downweighs observations in the distant past but is otherwise Bayesian in evaluating uncertainty. The model explains both standard asset pricing facts and investor expectations within a simple and tractable framework, in which subjective belief dynamics are constrained by survey data. In the model, fading memory implies perpetual learning and permanently high subjective uncertainty about long-run growth, but the subjective equity premium is virtually constant. In contrast, an econometrician who knows the true long-run growth will find a high and strongly countercyclical objective equity premium which is predictable. Consistent with this theory, we show empirically that experienced payout growth (an exponentially weighted average of past growth rates) is negatively related to future stock market excess returns, predicts survey expectation errors, and is positively related to aggregate analyst forecasts of long-run earnings growth. In the third chapter, I argue that econometricians find high returns from trading on the profitability anomaly because investors in real time failed to spot profitable firms that are difficult to analyze. I document that the Fama-French three-factor alphas of the profitability anomaly only exist among firms with high information frictions, proxied by young age, high forecast dispersion, high… Advisors/Committee Members: Nagel, Stefan (committee member), Shumway, Tyler G (committee member), Ottonello, Pablo (committee member), Dittmar, Robert F (committee member), Gallo, Lindsey A (committee member).

Subjects/Keywords: Belief formation; Equity; Fixed income; General equilibrium; Finance; Business and Economics

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APA (6^th Edition):

Xu, Z. (2020). Essays in Expectation Formation and Asset Pricing. (Doctoral Dissertation). University of Michigan. Retrieved from http://hdl.handle.net/2027.42/155062

Chicago Manual of Style (16^th Edition):

Xu, Zhengyang. “Essays in Expectation Formation and Asset Pricing.” 2020. Doctoral Dissertation, University of Michigan. Accessed March 09, 2021. http://hdl.handle.net/2027.42/155062.

MLA Handbook (7^th Edition):

Xu, Zhengyang. “Essays in Expectation Formation and Asset Pricing.” 2020. Web. 09 Mar 2021.

Vancouver:

Xu Z. Essays in Expectation Formation and Asset Pricing. [Internet] [Doctoral dissertation]. University of Michigan; 2020. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/2027.42/155062.

Council of Science Editors:

Xu Z. Essays in Expectation Formation and Asset Pricing. [Doctoral Dissertation]. University of Michigan; 2020. Available from: http://hdl.handle.net/2027.42/155062

Texas A&M University

19. Cao, Jun. An Economic Analysis Of Ghana's Savannah Accelerated Development Program.

Degree: PhD, Agricultural Economics, 2017, Texas A&M University

URL: http://hdl.handle.net/1969.1/161507

► This dissertation intends to review and assesses economic consequences of elements within the Savannah Accelerated Development Program in Ghana. The program has never been economically… (more)

Subjects/Keywords: Development Economics; Farm Planning Model; Computable General Equilibrium

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APA (6^th Edition):

Cao, J. (2017). An Economic Analysis Of Ghana's Savannah Accelerated Development Program. (Doctoral Dissertation). Texas A&M University. Retrieved from http://hdl.handle.net/1969.1/161507

Chicago Manual of Style (16^th Edition):

Cao, Jun. “An Economic Analysis Of Ghana's Savannah Accelerated Development Program.” 2017. Doctoral Dissertation, Texas A&M University. Accessed March 09, 2021. http://hdl.handle.net/1969.1/161507.

MLA Handbook (7^th Edition):

Cao, Jun. “An Economic Analysis Of Ghana's Savannah Accelerated Development Program.” 2017. Web. 09 Mar 2021.

Vancouver:

Cao J. An Economic Analysis Of Ghana's Savannah Accelerated Development Program. [Internet] [Doctoral dissertation]. Texas A&M University; 2017. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/1969.1/161507.

Council of Science Editors:

Cao J. An Economic Analysis Of Ghana's Savannah Accelerated Development Program. [Doctoral Dissertation]. Texas A&M University; 2017. Available from: http://hdl.handle.net/1969.1/161507

Nelson Mandela Metropolitan University

20. [No author]. Stability of the money demand function and monetary inflation in the East African community.

Degree: Faculty of Business and Economic Sciences, 2015, Nelson Mandela Metropolitan University

URL: http://hdl.handle.net/10948/9163

► This research attempts to evaluate the stability of money demand functions and estimate monetary inflation models in the East African Community (EAC), using quarterly aggregate… (more)

Subjects/Keywords: Monetary policy – Africa, East; Inflation (Finance) – Africa, East; Equilibrium (Economics)

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APA (6^th Edition):

author], [. (2015). Stability of the money demand function and monetary inflation in the East African community. (Thesis). Nelson Mandela Metropolitan University. Retrieved from http://hdl.handle.net/10948/9163

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

author], [No. “Stability of the money demand function and monetary inflation in the East African community.” 2015. Thesis, Nelson Mandela Metropolitan University. Accessed March 09, 2021. http://hdl.handle.net/10948/9163.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

author], [No. “Stability of the money demand function and monetary inflation in the East African community.” 2015. Web. 09 Mar 2021.

Vancouver:

author] [. Stability of the money demand function and monetary inflation in the East African community. [Internet] [Thesis]. Nelson Mandela Metropolitan University; 2015. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/10948/9163.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

author] [. Stability of the money demand function and monetary inflation in the East African community. [Thesis]. Nelson Mandela Metropolitan University; 2015. Available from: http://hdl.handle.net/10948/9163

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Oregon State University

21. Sohn, Saeyoon. Essays on market imperfection.

Degree: PhD, Economics, 2000, Oregon State University

URL: http://hdl.handle.net/1957/33051

► This dissertation addresses two topics on market imperfections. First, chapter 2 presents a theoretical model that focuses on problems associated with informational asymmetry. The model… (more)

Subjects/Keywords: Equilibrium (Economics) – Econometric models

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APA (6^th Edition):

Sohn, S. (2000). Essays on market imperfection. (Doctoral Dissertation). Oregon State University. Retrieved from http://hdl.handle.net/1957/33051

Chicago Manual of Style (16^th Edition):

Sohn, Saeyoon. “Essays on market imperfection.” 2000. Doctoral Dissertation, Oregon State University. Accessed March 09, 2021. http://hdl.handle.net/1957/33051.

MLA Handbook (7^th Edition):

Sohn, Saeyoon. “Essays on market imperfection.” 2000. Web. 09 Mar 2021.

Vancouver:

Sohn S. Essays on market imperfection. [Internet] [Doctoral dissertation]. Oregon State University; 2000. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/1957/33051.

Council of Science Editors:

Sohn S. Essays on market imperfection. [Doctoral Dissertation]. Oregon State University; 2000. Available from: http://hdl.handle.net/1957/33051

University of Oxford

22. Paul, Pascal. Essays on financial stability and monetary policy.

Degree: PhD, 2016, University of Oxford

URL: http://ora.ox.ac.uk/objects/uuid:49999782-6173-4e2b-8645-cab0b1561595 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.722542

► This thesis consists of three self-contained chapters. Chapter I. The first chapter develops a dynamic general equilibrium model which includes financial intermediation and endogenous financial… (more)

▼ This thesis consists of three self-contained chapters. Chapter I. The first chapter develops a dynamic general equilibrium model which includes financial intermediation and endogenous financial crises. Consistent with the data, financial crises occur out of prolonged (credit) boom periods and are initiated by a moderate adverse shock. The mechanism which gives rise to boom-bust episodes around financial crises is based on an interaction between the maturity mismatch of the financial sector and an agency problem which results in procyclical lending. I show how to model these features in a tractable way, giving a realistic representation of the financial sector's balance sheet and its lending behavior. The chapter provides empirical evidence on the behavior of the U.S. financial sector's market leverage which is (i) acyclical, (ii) rose mildly prior to the Great Recession, and (iii) increased sharply during the crisis; the model is consistent with these empirical facts. It also predicts and replicates the Great Recession, when confronted with a historical series of structural shocks. Finally, the framework is extended to include price rigidities, nominal debt contracts, and monetary policy. Within this version, I analyze the impact of monetary policy on financial stability and show that a U-shaped pattern of the policy target rate is most likely to increase financial instability. Chapter II. The second chapter models the economy as a time varying vector autoregression, consisting of economic and financial variables. The interest lies in the time varying response of these variables to a monetary policy shock. Monetary policy shocks are identified as the surprise component in policy announcements extracted from price changes in Federal Funds futures around such announcements. These monetary policy surprises enter the model as an exogenous variable. The framework is used to obtain evidence on the time varying response of stock prices to the monetary policy surprises. Stock prices always persistently decrease following a monetary tightening and more strongly than fundamentals imply - with an increase in risk-premia accounting for the difference. However, the response of stock prices varies over time. They decrease less during a boom and a perceived bubble period than during a recession. The findings suggest that so-called "leaning against the wind policies" may be ineffective since stock prices are less responsive during periods when such policies would disinflate asset bubbles using contractionary monetary policy. Chapter III. The third chapter augments a monetary dynamic general equilibrium model with a bubble as considered in [Miao_Wang_2015]. A bubble may exist in firms' stock market values and firms borrow against their inflated stock market values. Within this framework, I analyze the relation between monetary policy and the bubble. I find that contractionary monetary policy decreases the bubble which tightens borrowing constraints and amplifies the reaction of investment and output. These results are in contrast to…

Subjects/Keywords: 332; Financial crises – Econometric models; Monetary policy; Equilibrium (Economics)

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APA (6^th Edition):

Paul, P. (2016). Essays on financial stability and monetary policy. (Doctoral Dissertation). University of Oxford. Retrieved from http://ora.ox.ac.uk/objects/uuid:49999782-6173-4e2b-8645-cab0b1561595 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.722542

Chicago Manual of Style (16^th Edition):

Paul, Pascal. “Essays on financial stability and monetary policy.” 2016. Doctoral Dissertation, University of Oxford. Accessed March 09, 2021. http://ora.ox.ac.uk/objects/uuid:49999782-6173-4e2b-8645-cab0b1561595 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.722542.

MLA Handbook (7^th Edition):

Paul, Pascal. “Essays on financial stability and monetary policy.” 2016. Web. 09 Mar 2021.

Vancouver:

Paul P. Essays on financial stability and monetary policy. [Internet] [Doctoral dissertation]. University of Oxford; 2016. [cited 2021 Mar 09]. Available from: http://ora.ox.ac.uk/objects/uuid:49999782-6173-4e2b-8645-cab0b1561595 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.722542.

Council of Science Editors:

Paul P. Essays on financial stability and monetary policy. [Doctoral Dissertation]. University of Oxford; 2016. Available from: http://ora.ox.ac.uk/objects/uuid:49999782-6173-4e2b-8645-cab0b1561595 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.722542

University of Oxford

23. Ahn, Kwangwon. Dynamic stochastic general equilibrium models with money, default and collateral.

Degree: PhD, 2013, University of Oxford

URL: http://ora.ox.ac.uk/objects/uuid:78317412-e13d-4495-9665-340e777ab7b2 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581256

► This D.Phil. dissertation investigates the areas in financial stability. The three comprising essays have a common ground: money, default and collateral in the theory of… (more)

▼ This D.Phil. dissertation investigates the areas in financial stability. The three comprising essays have a common ground: money, default and collateral in the theory of finance. Chapter Two (co-authored with Prof. Dimitrios Tsomocos), which is titled “A Dynamic General Equilibrium Model to Analyse Financial Stability”, aims to refine and improve existing DSGE models in two ways. First, it incorporates hitherto neglected components such as endogenous default, money via cash-in-advance constraints and heterogeneous banking sectors. Thus, in contrast to the New Keynesian approach, here it is liquidity and default that are the driving forces behind our results. Second, in focusing on both monetary policy and fiscal policy, it elucidates how interactions between the two policy arenas affect macroeconomic fluctuations, particularly in regard to financial stability. Through these refinements, we put forward the policy response necessary to achieve a stable financial system using a calibrated DSGE model. Chapter Three, entitled “Monetary Policy in a Time of Natural Disaster”, investigates the appropriate monetary policy response to natural disasters in the DSGE framework. I develop a realistic model for financial turmoil by evaluating the impact of natural disasters on credit markets by including financial frictions such as endogenous default and liquidity constraints. I show that the standard Taylor rule (1993) response in models with money and default is to increase the nominal interest rate after a disaster shock. However, in fact an inflation-targeting policy (i.e. monetary contraction) is not compatible with mitigating financial fragility in the highly indebted economy with near-zero interest rate, and arguably the `Taylor Principle' does not hold in such as economy (e.g. Japan in 2011). Nevertheless, expansionary monetary policy induces a debt overhang even further. Chapter Four, “Collateral, Default and Asset Prices”, uses a DSGE framework to put forward a model of how agents adjust their asset holdings in response to deflationary shocks. By introducing collateral constraints in the default decision, I capture some original features of the early debt-deflation literature, such as distress selling and instability. The estimated model successfully delivers a procyclical feedback loop for the default channel, which consists of foreclosure, high borrowing costs, inefficient capital allocation, and a further decrease in the output level. I investigated recessionary shocks inducing deflation in commodity and/or asset prices for monetary policy experiments. This, therefore, underlines the importance of monetary policy in restoring financial stability during a deflationary period.

Subjects/Keywords: 339.5; Finance; Financial economics; collateral; default; money; dynamic stochastic general equilibrium

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APA (6^th Edition):

Ahn, K. (2013). Dynamic stochastic general equilibrium models with money, default and collateral. (Doctoral Dissertation). University of Oxford. Retrieved from http://ora.ox.ac.uk/objects/uuid:78317412-e13d-4495-9665-340e777ab7b2 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581256

Chicago Manual of Style (16^th Edition):

Ahn, Kwangwon. “Dynamic stochastic general equilibrium models with money, default and collateral.” 2013. Doctoral Dissertation, University of Oxford. Accessed March 09, 2021. http://ora.ox.ac.uk/objects/uuid:78317412-e13d-4495-9665-340e777ab7b2 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581256.

MLA Handbook (7^th Edition):

Ahn, Kwangwon. “Dynamic stochastic general equilibrium models with money, default and collateral.” 2013. Web. 09 Mar 2021.

Vancouver:

Ahn K. Dynamic stochastic general equilibrium models with money, default and collateral. [Internet] [Doctoral dissertation]. University of Oxford; 2013. [cited 2021 Mar 09]. Available from: http://ora.ox.ac.uk/objects/uuid:78317412-e13d-4495-9665-340e777ab7b2 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581256.

Council of Science Editors:

Ahn K. Dynamic stochastic general equilibrium models with money, default and collateral. [Doctoral Dissertation]. University of Oxford; 2013. Available from: http://ora.ox.ac.uk/objects/uuid:78317412-e13d-4495-9665-340e777ab7b2 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.581256

University of Oxford

24. Martínez Sepulveda, Juan Francisco. Essays in financial stability under financial frictions.

Degree: PhD, 2012, University of Oxford

URL: http://ora.ox.ac.uk/objects/uuid:4e2a5663-c0a5-43dc-8fe7-f6fa05048e76 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.580929

► This thesis is a collection of essays where I explore and extend the study of the role of financial frictions for the determination of asset… (more)

Subjects/Keywords: 332; Financial economics; financial stability; general equilibrium; liquidity; emerging markets

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APA (6^th Edition):

Martínez Sepulveda, J. F. (2012). Essays in financial stability under financial frictions. (Doctoral Dissertation). University of Oxford. Retrieved from http://ora.ox.ac.uk/objects/uuid:4e2a5663-c0a5-43dc-8fe7-f6fa05048e76 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.580929

Chicago Manual of Style (16^th Edition):

Martínez Sepulveda, Juan Francisco. “Essays in financial stability under financial frictions.” 2012. Doctoral Dissertation, University of Oxford. Accessed March 09, 2021. http://ora.ox.ac.uk/objects/uuid:4e2a5663-c0a5-43dc-8fe7-f6fa05048e76 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.580929.

MLA Handbook (7^th Edition):

Martínez Sepulveda, Juan Francisco. “Essays in financial stability under financial frictions.” 2012. Web. 09 Mar 2021.

Vancouver:

Martínez Sepulveda JF. Essays in financial stability under financial frictions. [Internet] [Doctoral dissertation]. University of Oxford; 2012. [cited 2021 Mar 09]. Available from: http://ora.ox.ac.uk/objects/uuid:4e2a5663-c0a5-43dc-8fe7-f6fa05048e76 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.580929.

Council of Science Editors:

Martínez Sepulveda JF. Essays in financial stability under financial frictions. [Doctoral Dissertation]. University of Oxford; 2012. Available from: http://ora.ox.ac.uk/objects/uuid:4e2a5663-c0a5-43dc-8fe7-f6fa05048e76 ; https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.580929

Hong Kong University of Science and Technology

25. Xu, Zhiwei. Essays on dynamic macroeconomics with frictions.

Degree: 2013, Hong Kong University of Science and Technology

URL: http://repository.ust.hk/ir/Record/1783.1-62249 ; https://doi.org/10.14711/thesis-b1255102 ; http://repository.ust.hk/ir/bitstream/1783.1-62249/1/th_redirect.html

► Chapter 1 provides a fully-fledged 2-country model to quantitatively explain the pattern of two-way capital flows between emerging economies and the developed world. Despite multiple… (more)

▼ Chapter 1 provides a fully-fledged 2-country model to quantitatively explain the pattern of two-way capital flows between emerging economies and the developed world. Despite multiple heterogeneities in households and firms with incomplete markets and capital accumulation, our infinite-horizon model is analytically tractable with closed form solutions at the micro level, which permits exact aggregation by the law of large numbers. Our model yields three implications that stand in sharp contrast with the existing literature: (i) Global trade imbalances between emerging economies and the developed world are sustainable even in the steady state. (ii) FDI can be beneficial for the sourcing country but harmful to the recipient country under financial frictions. (iii) The "saving glut" of emerging economies is not responsible for the low U.S. or world interest rate. Chapter 2 presents an estimated DSGE model of stock market bubbles and business cycles using Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a sentiment shock which drives the movements of bubbles and is transmitted to the real economy through endogenous credit constraints. This shock explains more than 96 percent of the stock market volatility and about 25 to 45 percent of the variations in investment and output. It generates the comovements between stock prices and macroeconomic quantities and is the dominant force in driving the internet bubbles and the Great Recession. Chapter 3 estimates a DSGE model with (S,s) inventory policies. We find that (i) taking inventories into account can significantly improve the empirical fit of DSGE models in matching the standard business-cycle moments; (ii) (S,s) inventory policies can significantly amplify aggregate output fluctuations; and (iii) aggregate demand shocks become more important than technology shocks in explaining the business cycle. An independent contribution of this chapter is that we develop a solution method for analytically solving (S,s) inventory policies in general-equilibrium models with heterogeneous firms and multiple frictions.

Subjects/Keywords: Capital movements ; Stock exchanges ; International finance ; Macroeconomics ; Mathematical models ; Equilibrium (Economics)

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APA (6^th Edition):

Xu, Z. (2013). Essays on dynamic macroeconomics with frictions. (Thesis). Hong Kong University of Science and Technology. Retrieved from http://repository.ust.hk/ir/Record/1783.1-62249 ; https://doi.org/10.14711/thesis-b1255102 ; http://repository.ust.hk/ir/bitstream/1783.1-62249/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Chicago Manual of Style (16^th Edition):

Xu, Zhiwei. “Essays on dynamic macroeconomics with frictions.” 2013. Thesis, Hong Kong University of Science and Technology. Accessed March 09, 2021. http://repository.ust.hk/ir/Record/1783.1-62249 ; https://doi.org/10.14711/thesis-b1255102 ; http://repository.ust.hk/ir/bitstream/1783.1-62249/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

MLA Handbook (7^th Edition):

Xu, Zhiwei. “Essays on dynamic macroeconomics with frictions.” 2013. Web. 09 Mar 2021.

Vancouver:

Xu Z. Essays on dynamic macroeconomics with frictions. [Internet] [Thesis]. Hong Kong University of Science and Technology; 2013. [cited 2021 Mar 09]. Available from: http://repository.ust.hk/ir/Record/1783.1-62249 ; https://doi.org/10.14711/thesis-b1255102 ; http://repository.ust.hk/ir/bitstream/1783.1-62249/1/th_redirect.html.

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

Council of Science Editors:

Xu Z. Essays on dynamic macroeconomics with frictions. [Thesis]. Hong Kong University of Science and Technology; 2013. Available from: http://repository.ust.hk/ir/Record/1783.1-62249 ; https://doi.org/10.14711/thesis-b1255102 ; http://repository.ust.hk/ir/bitstream/1783.1-62249/1/th_redirect.html

Note: this citation may be lacking information needed for this citation format:
Not specified: Masters Thesis or Doctoral Dissertation

University of Iowa

26. He, Wei. Essays in economic theory.

Degree: PhD, Economics, 2016, University of Iowa

URL: https://ir.uiowa.edu/etd/3098

► This thesis is composed of three chapters. Chapter 1 considers the existence of equilibria in games with complete information, where players may have non-ordered… (more)

▼ This thesis is composed of three chapters. Chapter 1 considers the existence of equilibria in games with complete information, where players may have non-ordered and discontinuous preferences. Chapter 2 studies the issues on the existence of pure and behavioral strategy equilibria in games with incomplete information and discontinuous payoffs. We consider the standard setting with Bayesian preferences as well as the case in which players may face ambiguity. Chapter 3 extends the classical results on the Walras-core existence and equivalence to an ambiguous asymmetric information economy, where agents maximize maximin expected utilities (MEU). These results are based on the papers He and Yannelis (2014, 2015a,b,c, 2016a,b). In the first chapter, we propose the condition of "continuous inclusion property" to handle the difficulty of discontinuous payoffs in various general equilibrium and game theory models. Such discontinuities arise naturally in economic situations, including auction, price competition of firms and also patent races. Based on the continuous inclusion property, we establish the equilibrium existence result in a very general framework with discontinuous payoffs. On one hand, this condition is sufficiently general from the methodological point of view, as it unifies almost all special conditions proposed in the literature. On the other hand, our condition is also potentially useful from the realistic point of view, as it could be applied to deal with many economic models which cannot be studied before because of the presence of the discontinuity. In the second chapter, I study the existence problem of pure and behavioral strategy equilibria in discontinuous games with incomplete information. The framework of games with incomplete information is standard as in the literature, except for that we allow players' payoffs to be discontinuous. We illustrate by examples that the Bayesian equilibria may not exist in such games and the previous results are not applicable to handle this problem. We propose some general conditions to retain the existence of both pure strategy and behavioral strategy Bayesian equilibrium, and show that our condition is tight. In addition, we study the equilibrium existence problem in discontinuous games under incomplete information and ambiguity, and show that the maximin framework solves the equilibrium existence issue without introducing any additional condition. In the last chapter, I study a general equilibrium model with incomplete information by adopting the maximin expected utilities. The model is powerful enough to describe the behaviors of risk averse agents that cannot be explained by the standard assumption of subjective expected utilities. I use this new formulation to extend many classical results in general equilibrium theory by incorporating ambiguity into the model. In addition, the desirable incentive compatibility property is shown in our model with maximin expected utilities, while this property will typically fail in… Advisors/Committee Members: Yannelis, Nicholas C. (supervisor).

Subjects/Keywords: publicabstract; Ambiguity; Game Theory; General Equilibrium Theory; Incomplete Information; Economics

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APA (6^th Edition):

He, W. (2016). Essays in economic theory. (Doctoral Dissertation). University of Iowa. Retrieved from https://ir.uiowa.edu/etd/3098

Chicago Manual of Style (16^th Edition):

He, Wei. “Essays in economic theory.” 2016. Doctoral Dissertation, University of Iowa. Accessed March 09, 2021. https://ir.uiowa.edu/etd/3098.

MLA Handbook (7^th Edition):

He, Wei. “Essays in economic theory.” 2016. Web. 09 Mar 2021.

Vancouver:

He W. Essays in economic theory. [Internet] [Doctoral dissertation]. University of Iowa; 2016. [cited 2021 Mar 09]. Available from: https://ir.uiowa.edu/etd/3098.

Council of Science Editors:

He W. Essays in economic theory. [Doctoral Dissertation]. University of Iowa; 2016. Available from: https://ir.uiowa.edu/etd/3098

Colorado School of Mines

27. Aljihrish, Khalid. International market power in oil and strategic responses to climate policy.

Degree: PhD, Economics and Business, 2015, Colorado School of Mines

URL: http://hdl.handle.net/11124/20151

► Effective sub-global initiatives to limit carbon emissions will result in substantial changes in the international demand for fossil energy, and this transfers policy costs to… (more)

▼ Effective sub-global initiatives to limit carbon emissions will result in substantial changes in the international demand for fossil energy, and this transfers policy costs to energy exporters. Most quantitative analysis of carbon policy, however, does not consider Saudi Arabia's significant market power in crude oil. The literature largely ignores the fact that Saudi Arabia might change export markups in a way that mitigates the climate policy costs. Against this background, this dissertation addresses three primary concerns. First, under what conditions does Saudi Arabia have the ability to respond to oil demand shocks. Second, what are the impacts of a sub-global climate policy on regional welfare and carbon leakage levels and what are the effects of a Saudi strategic reaction on those levels. Third, to what extent can the climate coalition retaliate to Saudi Arabia's reaction and what are the results of this game between the coalition and Saudi Arabia on welfare and carbon leakage. We adopt a global numeric model based on GTAP data but modify it to consider the benchmark divergence between the marginal cost of producing crude oil in Saudi Arabia and the world price of crude oil. Under this consideration, we find that Saudi Arabia has ample scope for a strategic reaction to external climate policies. We find that Saudi Arabia's reaction significantly alters relative prices of fossil fuels and therefore the regional share of the climate policy burden. Increasing the relative price of oil, as a result of Saudi Arabia's strategic reaction, reduces consumption of oil globally and drives large reductions in carbon leakage. This comes at the expense of reductions in oil importers welfare, which a large portion of the coalition falls under. The coalition has market power on the oil import side and therefore has the incentive to retaliate to Saudi Arabia's reaction. We find historical evidence for an agreement between Saudi Arabia and the West, particularly the US, that answers the question of why the coalition and Saudi Arabia do not exercise their respective oil market power in the benchmark data. The dissolution of this agreement as a result of the coalition taking action on climate change creates the incentive for both parties, the coalition and Saudi Arabia, to exploit their oil market power. This break-down of the agreement leads to reduced welfare levels for both parties and increased carbon leakage. Advisors/Committee Members: Balistreri, Edward J. (Edward Jay) (advisor), Carbone, Jared C. (committee member), Eggert, Roderick G. (committee member), Amery, Hussein A., 1958- (committee member).

Subjects/Keywords: climate policy; general equilibrium; oil; energy economics; carbon leakage; market power

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APA (6^th Edition):

Aljihrish, K. (2015). International market power in oil and strategic responses to climate policy. (Doctoral Dissertation). Colorado School of Mines. Retrieved from http://hdl.handle.net/11124/20151

Chicago Manual of Style (16^th Edition):

Aljihrish, Khalid. “International market power in oil and strategic responses to climate policy.” 2015. Doctoral Dissertation, Colorado School of Mines. Accessed March 09, 2021. http://hdl.handle.net/11124/20151.

MLA Handbook (7^th Edition):

Aljihrish, Khalid. “International market power in oil and strategic responses to climate policy.” 2015. Web. 09 Mar 2021.

Vancouver:

Aljihrish K. International market power in oil and strategic responses to climate policy. [Internet] [Doctoral dissertation]. Colorado School of Mines; 2015. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/11124/20151.

Council of Science Editors:

Aljihrish K. International market power in oil and strategic responses to climate policy. [Doctoral Dissertation]. Colorado School of Mines; 2015. Available from: http://hdl.handle.net/11124/20151

University of Minnesota

28. Elgin, Ceyhun. Essays on dynamic macroeconomics.

Degree: PhD, Economics, 2010, University of Minnesota

URL: http://purl.umn.edu/92008

► This dissertation, titled ”Essays on Dynamic Macroeconomics” is comprised of three papers which share the common ground of employing tools of modern dynamic macroeconomics. All… (more)

▼ This dissertation, titled ”Essays on Dynamic Macroeconomics” is comprised of three papers which share the common ground of employing tools of modern dynamic macroeconomics. All the three papers apply modern technical tools of macroeconomics in dynamic environments to different macroeconomic problems and observations, develop mechanisms and models to account for these observations and finally test explanatory powers of the provided mechanisms. The first paper, titled ”Political Turnover, Taxes, and the Shadow Economy” is motivated from several cross-section empirical studies which argue that a higher tax burden or different indicators of statutory tax rates are associated with a smaller informal economy. In the paper I show that the turnover of governments provides the key to understanding this relation. To this end, I present evidence that once political turnover is controlled for, the data shows no association between the tax burden and the size of the informal economy. This result is empirically robust in a panel data consisting of 80 countries and 5 years. To account for this observation, I develop a dynamic political economy model with two political parties alternating in office. In equilibrium, if the incumbent party faces a higher probability of staying in office, it sets a higher tax rate to invest more in productive public capital, while spending less for current office rent. I argue that public capital is mainly utilized by the formal sector and this implies that countries in which incumbent parties are more likely to stay in power, have a higher tax burden but a smaller informal sector. Finally, I compare the model against the data and present evidence that my theory is consistent with empirical observations.In the second paper, titled ”A Theory of Economic Development with Endogenous Fertility”, I integrate two existing theories of economic development to account for the time-series evolution of output, fertility and population in transition through the industrialization of an economy. Specifically, I extend a standard two-sector overlapping generations model with endogenous fertility and human capital decisions. Initially, the aggregate human capital and return to education are low and parents invest in quantity of children. Once sufficient human capital is accumulated, with the activation of the modern human capital intensive sector, parents start to invest in quality of their children. The simulation of the model economy successfully captures the evolution of fertility, population and GDP of the British economy between 1750 and 2000. Finally, in the third chapter, titled ”Not-Quite-Great Depressions of Turkey”, which is based on a paper written together with my coauthor Deniz C¸ i¸cek, following the great depressions methodology we use growth accounting and perfect foresight dynamic general equilibrium models to study growth performance of Turkey from 1968 to 2004. We calculate the total factor productivity from the growth accounting exercise and obtain the…

Subjects/Keywords: Dynamic General Equilibrium; Macroeconomics; Economics

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APA (6^th Edition):

Elgin, C. (2010). Essays on dynamic macroeconomics. (Doctoral Dissertation). University of Minnesota. Retrieved from http://purl.umn.edu/92008

Chicago Manual of Style (16^th Edition):

Elgin, Ceyhun. “Essays on dynamic macroeconomics.” 2010. Doctoral Dissertation, University of Minnesota. Accessed March 09, 2021. http://purl.umn.edu/92008.

MLA Handbook (7^th Edition):

Elgin, Ceyhun. “Essays on dynamic macroeconomics.” 2010. Web. 09 Mar 2021.

Vancouver:

Elgin C. Essays on dynamic macroeconomics. [Internet] [Doctoral dissertation]. University of Minnesota; 2010. [cited 2021 Mar 09]. Available from: http://purl.umn.edu/92008.

Council of Science Editors:

Elgin C. Essays on dynamic macroeconomics. [Doctoral Dissertation]. University of Minnesota; 2010. Available from: http://purl.umn.edu/92008

University of Minnesota

29. Pinto, Cristina Vinyes. Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis.

Degree: PhD, Applied economics, 2011, University of Minnesota

URL: http://purl.umn.edu/104552

► Disenchantment with the Washington Consensus has led to an emphasis on growth diagnostics. In the case of Brazil, the literature suggests three main factors impeding… (more)

Subjects/Keywords: Biofuel; Computable general equilibrium; Economic Growth; Ethanol; Ramsey; Applied Economics

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APA (6^th Edition):

Pinto, C. V. (2011). Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis. (Doctoral Dissertation). University of Minnesota. Retrieved from http://purl.umn.edu/104552

Chicago Manual of Style (16^th Edition):

Pinto, Cristina Vinyes. “Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis.” 2011. Doctoral Dissertation, University of Minnesota. Accessed March 09, 2021. http://purl.umn.edu/104552.

MLA Handbook (7^th Edition):

Pinto, Cristina Vinyes. “Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis.” 2011. Web. 09 Mar 2021.

Vancouver:

Pinto CV. Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis. [Internet] [Doctoral dissertation]. University of Minnesota; 2011. [cited 2021 Mar 09]. Available from: http://purl.umn.edu/104552.

Council of Science Editors:

Pinto CV. Effects of economy-wide factors on Brazilian economic growth and biofuels production: an inter-temporal general equilibrium analysis. [Doctoral Dissertation]. University of Minnesota; 2011. Available from: http://purl.umn.edu/104552

University of Arizona

30. Epstein, Seth Louis Alan. An experimental evaluation of general equilbrium theory.

Degree: 1988, University of Arizona

URL: http://hdl.handle.net/10150/184508

► The major purpose of this dissertation is to begin to experimentally study general equilibrium theory. Partial equilibrium analysis has been the focus of hundreds of… (more)

▼ The major purpose of this dissertation is to begin to experimentally study general equilibrium theory. Partial equilibrium analysis has been the focus of hundreds of experiments, and evidence abounds supporting the proposition that gains from trade will be realized in the market for a single good. Yet, in a general equilibrium context, almost no such documentation exists. Furthermore, general equilibrium theory is not amenable to testing via field data. Thus, at present, the theory that is the intellectual foundation of microeconomics remains untested. The natural starting point of such an investigation is the well-known Edgeworth Box environment. This involves conducting experiments within four major categories. In the first treatment, a two-person, two-good pure barter setting, subjects with given endowments effect trades over the goods. Information is incomplete but symmetric, with individuals having knowledge only of their own endowments and valuations. In the second treatment, prices are introduced to induce a budge constraint. Here, the experimenter acts as an auctioneer, adjusting prices based upon excess demand and supply. Third, the case of asymmetric information is considered, as subjects with full knowledge of both parties' endowments and valuations trade with the experimenter, who acts in a purely price-taking capacity. The final set of experiments extends the second treatment to an r-replication of the economy; here, price-taking behavior is the only individually rational strategy. The results of the barter experiments clearly support standard theoretical predictions, as all gains from trade are exhausted in virtually every case. However, one party usually captures most of these gains through superior bargaining ability. When prices are introduced there is often an initial attempt to behave strategically by at least one of the parties. However, in the limited information environment, it is rarely successful. Thus, the competitive equilibrium is almost always achieved. When information is asymmetric, however, the result is quite different; the majority of people do engage in strategic under-revelation of demand and are thus able to capture the maximum extra surplus available. The final treatment, that of the r-replication of the economy shows the surprising result that subjects in this environment cannot learn, in the alloted time, that behaving in a non-price-taking fashion is very costly. Advisors/Committee Members: Conn, David (advisor), Cox, James C. (committeemember), Drabicki, John Z. (committeemember).

Subjects/Keywords: Equilibrium (Economics); Microeconomics.; Barter.

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APA (6^th Edition):

Epstein, S. L. A. (1988). An experimental evaluation of general equilbrium theory. (Doctoral Dissertation). University of Arizona. Retrieved from http://hdl.handle.net/10150/184508

Chicago Manual of Style (16^th Edition):

Epstein, Seth Louis Alan. “An experimental evaluation of general equilbrium theory. ” 1988. Doctoral Dissertation, University of Arizona. Accessed March 09, 2021. http://hdl.handle.net/10150/184508.

MLA Handbook (7^th Edition):

Epstein, Seth Louis Alan. “An experimental evaluation of general equilbrium theory. ” 1988. Web. 09 Mar 2021.

Vancouver:

Epstein SLA. An experimental evaluation of general equilbrium theory. [Internet] [Doctoral dissertation]. University of Arizona; 1988. [cited 2021 Mar 09]. Available from: http://hdl.handle.net/10150/184508.

Council of Science Editors:

Epstein SLA. An experimental evaluation of general equilbrium theory. [Doctoral Dissertation]. University of Arizona; 1988. Available from: http://hdl.handle.net/10150/184508

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