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AUTOMATIC STABILIZERS DURING STAGFLATION
Title
AUTOMATIC STABILIZERS DURING STAGFLATION.
Creator
MCINTIRE, RICHARD MICHAEL., Florida Atlantic University, Redman, Milton, College of Business, Department of Economics
Abstract/Description
This thesis explored the impact of inflation upon fiscal automatic stabilizers during the 1973-75 recession. Our study confined itself to the three main devices purported to stabilize the U.S. economy automatically: (1) federal personal income tax liability, (2) corporate profits tax liability, and (3) unemployment compensation benefits. A recursive model, similar to that used by Dusenberry, Eckstein, and Fromm to study fiscal automatic stabilizers in the 1957-58 recession, was constructed....
Show moreThis thesis explored the impact of inflation upon fiscal automatic stabilizers during the 1973-75 recession. Our study confined itself to the three main devices purported to stabilize the U.S. economy automatically: (1) federal personal income tax liability, (2) corporate profits tax liability, and (3) unemployment compensation benefits. A recursive model, similar to that used by Dusenberry, Eckstein, and Fromm to study fiscal automatic stabilizers in the 1957-58 recession, was constructed. Our simulation results led us to conclude that there was a substantial reduction in output and employment due to the impact of inflation upon federal personal income tax liability in the 1973-75 recession. We reached a tentative conclusion that the effects of inflation upon output and employment via corporate profits tax liability were negligible. Finally, we concluded that the effects of inflation upon output and employment via unemployment compensation benefits paid were negligible in the recent stagflation.
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Date Issued
1978
PURL
http://purl.flvc.org/fcla/dt/13919
Subject Headings
Economics, Mathematical, United States--Economic conditions--Mathematical models
Format
Document (PDF)
FACTOR ANALYSIS AS A TECHNIQUE FOR ECONOMICS
Title
FACTOR ANALYSIS AS A TECHNIQUE FOR ECONOMICS.
Creator
ISLEY, PHYLLIS W., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description
This thesis focuses on factor analysis as a technique. It thus includes a survey of the various factor mode ls, their theory and mathematical development, a survey of its previous use for empirical studies in economics, and empirical tests of sensitivity of alternative factor techniques. From the results of the sensitivity test it was concluded that different factor techniques yield very similar results and that factor techniques are of value for empirical studies in economics.
Date Issued
1974
PURL
http://purl.flvc.org/fcla/dt/13650
Subject Headings
Factor analysis, Economics, Mathematical
Format
Document (PDF)
SYSTEMS OF DIFFERENCE EQUATIONS IN ECONOMIC THEORY
Title
SYSTEMS OF DIFFERENCE EQUATIONS IN ECONOMIC THEORY.
Creator
WONNACOTT, LARRY RUSSELL., Florida Atlantic University, Stronge, William B., College of Business, Department of Economics
Abstract/Description
This study demonstrates the importance of dynamic economic analysis, the role played by difference equations in such analysis and the properties of systems of difference equations. This is accomplished by proving the significance of dynamics in general and difference equations in particular using the Cobweb model and the "correspondence principle". The properties of systems of linear, first order difference equations are discussed in detail and it is shown that a system of any order can be...
Show moreThis study demonstrates the importance of dynamic economic analysis, the role played by difference equations in such analysis and the properties of systems of difference equations. This is accomplished by proving the significance of dynamics in general and difference equations in particular using the Cobweb model and the "correspondence principle". The properties of systems of linear, first order difference equations are discussed in detail and it is shown that a system of any order can be reduced to first order so that the discussion is completely general. The properties included in this analysis ore the traverse, impact, delayed, cumulative and long run multipliers, and stability of a linear system. A simple Keynesian model of income determination is estimated and simulated by the computer to facilitate observation of these properties.
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Date Issued
1972
PURL
http://purl.flvc.org/fcla/dt/13521
Subject Headings
Economics, Mathematical
Format
Document (PDF)