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Essays in international economics.

Jeon, Kiyoung.

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Essays in international economics.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays in international economics./
Author:	Jeon, Kiyoung.
Description:	116 p.
Notes:	Source: Dissertation Abstracts International, Volume: 77-04(E), Section: A.
Contained By:	Dissertation Abstracts International77-04A(E).
Subject:	Economic theory. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3735295
ISBN:	9781339241241

Essays in international economics.
Jeon, Kiyoung.

Essays in international economics. - 116 p.

Source: Dissertation Abstracts International, Volume: 77-04(E), Section: A.

Thesis (Ph.D.)--University of Pittsburgh, 2015.

This dissertation analyzes the sovereign default risk and trade of emerging countries. In the first two chapters, I investigate the default risk by laying particular emphasis on labor markets and income inequality. In Chapter 2, I propose a general equilibrium model with endogenous sovereign default. I assume that firms need to borrow from foreign lenders to finance a fraction of the cost of labor (also referred to as working capital conditions). In the model, the labor channel can amplify the effect of adverse TFP shocks on default risk. The main finding is that working capital conditions play a significant role in generating endogenous drops in output and labor in defaults. In addition, the model explains the main features of the business cycles observed in emerging markets, such as countercyclical spreads, procyclical labor, and high volatility of consumption relative to output, when calibrated to Argentine data. (Abstract shortened by UMI.).

ISBN: 9781339241241Subjects--Topical Terms:

1556984
Economic theory.

Essays in international economics.
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020 $a 9781339241241
035 $a (MiAaPQ)AAI3735295
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100 1 $a Jeon, Kiyoung. $3 3188609
245 1 0 $a Essays in international economics.
300 $a 116 p.
500 $a Source: Dissertation Abstracts International, Volume: 77-04(E), Section: A.
500 $a Advisers: Daniele Coen-Pirani; Marla Ripoll.
502 $a Thesis (Ph.D.)--University of Pittsburgh, 2015.
520 $a This dissertation analyzes the sovereign default risk and trade of emerging countries. In the first two chapters, I investigate the default risk by laying particular emphasis on labor markets and income inequality. In Chapter 2, I propose a general equilibrium model with endogenous sovereign default. I assume that firms need to borrow from foreign lenders to finance a fraction of the cost of labor (also referred to as working capital conditions). In the model, the labor channel can amplify the effect of adverse TFP shocks on default risk. The main finding is that working capital conditions play a significant role in generating endogenous drops in output and labor in defaults. In addition, the model explains the main features of the business cycles observed in emerging markets, such as countercyclical spreads, procyclical labor, and high volatility of consumption relative to output, when calibrated to Argentine data. (Abstract shortened by UMI.).
590 $a School code: 0178.
650 4 $a Economic theory. $3 1556984
690 $a 0511
710 2 $a University of Pittsburgh. $b Economics. $3 2093792
773 0 $t Dissertation Abstracts International $g 77-04A(E).
790 $a 0178
791 $a Ph.D.
792 $a 2015
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3735295