Essays in Macroeconomics
Abstract/Contents
- Abstract
- This thesis contains four chapters examining issues in macroeconomics. The first chapter proposes a simple explanation for the slowdown in the skill premium and the flatlining of the skilled labor share, that firms have adopted skill-replacing technologies in response to the rapidly rising skill premium of the 1980 to 2000 period. It provides a dynamic general equilibrium model that accounts for up to 60 percent of the slowdown of the skill premium relative to a no-technology-adoption counterfactual, and provides microeconomic evidence using a case study of accountants. The second chapter explores the macroeconomic consequences of zombie lending, a phenomenon where banks delay loss recognition to avoid having to contract credit to stay compliant with regulation. It constructs a novel general equilibrium model in which zombie lending allows banks to extend more credit than otherwise possible but also leads to misallocation of resources, finding that the latter effect dominates in the long run. The third chapter explores the relationship between economic policy uncertainty and elections, showing that the increase in policy uncertainty around elections is driven by close and polarized elections. The fourth chapter proposes a novel explanation for the long-run decline in worker mobility, based on higher college enrollment of young workers. The decline in worker mobility arises for two reasons: first, since young workers are the most rapid switchers, their withdrawal from the labor market reduces measured average worker mobility directly, and second, since young workers learn about the careers they are best suited for while in school, higher schooling leads to less job switching by workers who are poorly matched initially in the labor market.
Description
| Type of resource | text |
|---|---|
| Form | electronic resource; remote; computer; online resource |
| Extent | 1 online resource. |
| Place | California |
| Place | [Stanford, California] |
| Publisher | [Stanford University] |
| Copyright date | 2023; ©2023 |
| Publication date | 2023; 2023 |
| Issuance | monographic |
| Language | English |
Creators/Contributors
| Author | Baksy, Aniket |
|---|---|
| Degree supervisor | Kehoe, Patrick J |
| Thesis advisor | Kehoe, Patrick J |
| Thesis advisor | Bloom, Nick, 1973- |
| Thesis advisor | Bocola, Luigi |
| Thesis advisor | Pastorino, Elena |
| Degree committee member | Bloom, Nick, 1973- |
| Degree committee member | Bocola, Luigi |
| Degree committee member | Pastorino, Elena |
| Associated with | Stanford University, School of Humanities and Sciences |
| Associated with | Stanford University, Department of Economics |
Subjects
| Genre | Theses |
|---|---|
| Genre | Text |
Bibliographic information
| Statement of responsibility | Aniket Baksy. |
|---|---|
| Note | Submitted to the Department of Economics. |
| Thesis | Thesis Ph.D. Stanford University 2023. |
| Location | https://purl.stanford.edu/qh886vf8875 |
Access conditions
- Copyright
- © 2023 by Aniket Baksy
- License
- This work is licensed under a Creative Commons Attribution Non Commercial 3.0 Unported license (CC BY-NC).
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