The asymmetric role of freight and passenger transportation in testing EKC in the US economy: evidence from QARDL approach

2020 ◽  
Vol 27 (24) ◽  
pp. 30108-30117 ◽  
Author(s):  
Danish Iqbal Godil ◽  
Arshian Sharif ◽  
Sahar Afshan ◽  
Adnan Yousuf ◽  
Syed Abdul Rehman Khan
Keyword(s):  
Us Economy ◽  
Passenger Transportation ◽  
The Us

scholarly journals Demand and Defective Growth Patterns: The Role of The Tradable and Non-Tradable Sectors in an Open Economy

2014 ◽  
Vol 104 (5) ◽  
pp. 272-277 ◽  
Author(s):  
Sandile Hlatshwayo ◽  
Michael Spence
Keyword(s):  
Open Economy ◽  
Aggregate Demand ◽  
Value Added ◽  
Growth Patterns ◽  
Structural Elements ◽  
Total Income ◽  
Us Economy ◽  
The Us ◽  
Tradable Sector

This paper examines the underlying structural elements of US growth patterns, pre- and post-crisis. Prior to the recession, the US economy exhibited a defective growth pattern driven by outsized domestic demand. As domestic aggregate demand retreats to more sustainable levels relative to total income, the tradable side of the economy is a catalyst for restoring strong growth. A structural rebalancing is already underway; although it is only a third of the economy, the tradable sector generated more than half of gross gains in value-added since the start of the recovery. However, distributional issues loom on the horizon.

THE ROLE OF EDUCATION SIGNALING IN EXPLAINING THE GROWTH OF THE COLLEGE WAGE PREMIUM

2017 ◽  
Vol 23 (3) ◽  
pp. 1247-1286 ◽  
Author(s):  
Yu Zheng
Keyword(s):  
College Graduates ◽  
The United States ◽  
Skill Premium ◽  
Simultaneous Increase ◽  
Unskilled Labor ◽  
Signaling Mechanism ◽  
College Degrees ◽  
Us Economy ◽  
The Us

This paper incorporates an education signaling mechanism into a dynamic model of production and asks if “higher education as a signal” helps explain the simultaneous increase in the supply and price of skilled relative to unskilled labor in the United States since 1980. The key mechanism is that if college degrees serve as a signal of unobservable talent and talent is productive at the workplace, then improved access to college will enable a higher fraction of the population to signal talent by completing college, resulting in degrees being a better signal about talent and a widening skill premium. When I assess the contribution of signaling in the model calibrated to the US economy from 1980 to 2003, I find that about 10% of the increase in the skill premium can be attributed to the signaling mechanism, after adjusting for the potential decline in the quality of college graduates.

scholarly journals Economic Uncertainty And The Role Of Organizational Development

2010 ◽  
Vol 8 (4) ◽  
Author(s):  
Martin D. Carrigan
Keyword(s):  
Organizational Behavior ◽  
Organizational Development ◽  
Stock Markets ◽  
Economic Uncertainty ◽  
Us Economy ◽  
The Us

The US Economy has entered an era of economic uncertainty.  Stock markets are down. Unemployment is up.  This paper examines the effect of economic uncertainty on organizational behavior. 

Path dependence, the COVID-19 crisis, and inequality in the United States

2021 ◽  
Vol 18 (2) ◽  
pp. 198-206
Author(s):  
Daniele Tavani
Keyword(s):  
Great Recession ◽  
Path Dependence ◽  
The United States ◽  
Economic Security ◽  
The Great Recession ◽  
Us Economy ◽  
Long Run ◽  
The Us ◽  
Historical Trajectory

This paper considers both secular and medium-run trends to argue that the US economy was already vulnerable to shocks before the COVID-19 crisis. Long-run trends have shown a pattern of secular stagnation and increasing inequality since the 1980s, while the economy has displayed hysteresis during the sluggish recovery from the Great Recession. The immediate policy response through the Coronavirus, Relief and Economic Security (CARES) Act highlighted the coordinating role of fiscal policy on the economy, but also showcased limits, especially with regard to the paycheck protection program. The historical trajectory of the US economy before the COVID-19 crisis cast serious doubts on recent cries of ‘overheating’ and inflationary pressures that should supposedly arise from the $1.9 trillion relief package just signed into law by President Biden. Projecting forward to the long run, redistribution policies may provide useful first steps in reversing the trends of rising inequality and declining productivity growth that the US economy has seen over the last few decades.

The Role of Federal Research and Development in Advancing Energy Efficiency: A $50 Billion Contribution to the US Economy

1987 ◽  
Vol 12 (1) ◽  
pp. 357-395 ◽  
Author(s):  
Howard Geller ◽  
Jeffrey P. Harris ◽  
Mark D. Levine ◽  
Arthur H. Rosenfeld
Keyword(s):  
Energy Efficiency ◽  
Research And Development ◽  
Us Economy ◽  
Federal Research ◽  
The Us

Managing Liquidity in Production Networks: The Role of Central Firms

2020 ◽  
Author(s):  
Janet Gao
Keyword(s):  
Cash Holdings ◽  
Production Network ◽  
Production Networks ◽  
Liquidity Management ◽  
Firm Diversification ◽  
Us Economy ◽  
Industry Competition ◽  
The Us ◽  
Cash Policies

Abstract Firms in the US economy are closely interconnected in a production network and are subject to shocks that propagate within the network. This study examines the liquidity management of firms centrally connected in the network. I show that, while central firms are more exposed to aggregate swings, they maintain higher cash holdings to protect themselves and connected firms against such exposure. Central firms’ cash holding motives are alleviated by firm diversification but are aggravated by industry competition. Such motives are not explained by alternative determinants of cash policies. My findings suggest that systematically important firms proactively dampen the propagation of shocks in the production network.

scholarly journals The global price of oil, QE and the US high yield rate

2020 ◽  
Vol 47 (7) ◽  
pp. 1849-1860
Author(s):  
Anastasios Malliaris ◽  
Mary E. Malliaris
Keyword(s):  
Oil Prices ◽  
High Yield ◽  
Practical Application ◽  
Content Type ◽  
Yield Rate ◽  
Us Economy ◽  
The Us ◽  
Short Run ◽  
Practical Implications

PurposeQuantitative easing (QE) allowed the US economy to stabilize and return to slow growth. Oil prices increased to $100 during 2010–2013. Then in June 2014, they plunged again dramatically to $40. The purpose of this paper is to develop and test a model that describes the price of oil as depending on six inputs: Federal assets accumulated by the Federal Reserve during the period of QE, the 10-Year Treasury note rate, the price of copper, the trade-weighted dollar, the S&P 500 Index and the US high yield rate for bonds rated CCC or below.Design/methodology/approachWe use 771 overlapping 52-week regressions to capture short-run oil price dynamics.FindingsWe find that QE was statistically significant only during 2009–2010, while the US high yield rate played a more significant role, both during and after the crisis.Research limitations/implicationsThis paper does not explain the behavior of oil prices prior to 2003.Practical implicationsThis paper emphasizes the role of the high yield rate on fracking technology in financing the extraction and production of oil.Originality/valueThe paper has both the theoretical value for researchers in the area of energy, as well as practical application for the oil industry.

scholarly journals The Role of Entrepreneurship in US Job Creation and Economic Dynamism

2014 ◽  
Vol 28 (3) ◽  
pp. 3-24 ◽  
Author(s):  
Ryan Decker ◽  
John Haltiwanger ◽  
Ron Jarmin ◽  
Javier Miranda
Keyword(s):  
Job Creation ◽  
Critical Factor ◽  
The United States ◽  
Us Economy ◽  
Multiple Datasets ◽  
The Us ◽  
Business Dynamics ◽  
Geographic Regions ◽  
Over Time

An optimal pace of business dynamics—encompassing the processes of entry, exit, expansion, and contraction—would balance the benefits of productivity and economic growth against the costs to firms and workers associated with reallocation of productive resources. It is difficult to prescribe what the optimal pace should be, but evidence accumulating from multiple datasets and methodologies suggests that the rate of business startups and the pace of employment dynamism in the US economy has fallen over recent decades and that this downward trend accelerated after 2000. A critical factor in accounting for the decline in business dynamics is a lower rate of business startups and the related decreasing role of dynamic young businesses in the economy. For example, the share of US employment accounted for by young firms has declined by almost 30 percent over the last 30 years. These trends suggest that incentives for entrepreneurs to start new firms in the United States have diminished over time. We do not identify all the factors underlying these trends in this paper but offer some clues based on the empirical patterns for specific sectors and geographic regions.

Sign in / Sign up

Export Citation Format

Share Document