Essays in International Macroeconomics
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Essays in International Macroeconomics
ESSAYS IN INTERNATIONAL MACROECONOMICS by Xuan Liu Department of Economics Duke University
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OF THE DISSERTATION Essays on Learning and Macroeconomics
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Title of Document: ESSAYS ON FIRM DYNAMICS AND MACROECONOMICS Ryan Allen Decker, Doctor of Philosophy, 2015 Directed By: Professor John C. Haltiwanger Department of Economics I describe two studies in firm dynamics and macroeconomics. Chapter 1 reports on the large decline in entrepreneurial activity that preceded and accompanied the Great Recession and proposes a model relating this decline to...
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This paper studies the interaction between inequality and house prices using an incomplete market heterogeneous agent model. The model links cross-sectional household portfolio saving decisions to housing market outcomes, contributing to the housing literature by illustrating a new price formation mechanism in which the investment motive among the wealthy plays a key role. A quantitative applic...
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The first essay explains why credit contracts in developing countries are often denominated in foreign currencies, even after many of these economies succeeded in controlling inflation. I propose a new interpretation based on the demand for insurance against real aggregate shocks. The fact that devaluations occur more frequently in adverse states of the world provides a motive for holding dolla...
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