Diese Arbeit besteht aus vier Essays, die empirische und methodische Beiträge zu den Gebieten der Finanzmarktökonomik und der Makroökonomik liefern. Der erste Essay beschäftigt sich mit der Spezifikation der Investoren verfügbaren Informationsmenge in Tests bedingter Kapitalmarktmodelle. Im...

RazorGuard Inc., in collaboration with Winsell Inc., is looking to design a new ergonomically shaped and well economically researched razorblade handle. The male shaving accessories industry is primarily controlled by Gillette and Schick, RazorGuard and Winsell have expressed no interest in...

The investments represent the primordial factor for the strategy of the national economy development, of all branches and fields of activity, for the increase of the incomes, and a condition to arise the living standard. The directions and targets of economic research, in the existing stage give...

The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer-Taylor. How they work, what shortcuts they take, and how they can be used. Half-term subject. From the course home page: Course Description This is the second course in the four-quarter...

Volkswirtschaftliche Modelle werden heute häufig als mikro-fundierte dynamische Optimierungsmodelle konstruiert. Dabei wird meist ein repräsentativer Agent mit rationalen Erwartungen betrachtet. Durch adaptive Lernalgorithmen können rationale Erwartungen als Ergebnis von optimierendem...

This paper aims to conduct a precise test of the political economy hypothesis linking income inequality and economic growth. By choosing covariates from a detailed county-level dataset and assuming that U.S. counties experience perfect capital mobility, I shut off the four possible channels...

Chapters one and two of the dissertation investigate the effects of political disagreement on macroeconomic outcomes. I introduce a model of governments with heterogeneous preferences over the composition of consumption between private and public goods alternating in power. Unable to commit to...

The focus of my research is dynamic political economy in macroeconomics. The first chapter of my dissertation studies the fact that Countries in the Organization of Economic Co-operation and Development (OECD) vary widely in their ratio of capital tax rates to labor tax rates. This chapter’s...

“The charm of history and its enigmatic lesson consist in the fact that, from age to age, nothing changes and yet everything is completely different.” – Aldous HuxleyAldous Huxley perfectly captures the elusive nature of how difficult it is to analyze history to gain insight to the present...

We build up from the plant level an “aggregate(d)” Solow residual by estimating every U.S. manufacturing plant's contribution to the change in aggregate final demand between 1976 and 1996. Our framework uses the Petrin and Levinsohn (2010) definition of aggregate productivity growth, which...