Refine
Has Fulltext
- yes (13)
Document Type
- Bachelor Thesis (13)
Is part of the Bibliography
- yes (13)
This bachelor’s thesis analyses the impact on the US labour market from the North American Free Trade Agreement (NAFTA), and the protectionist policies advocated by Donald Trump. Protectionism generally leads to deadweight costs, diminishing welfare, despite its intentions to the contrary. Free trade is generally preferable to protectionism, as it boosts productivity and welfare, even though it causes adjustment costs. NAFTA is a free trade agreement which has liberalised, and thereby boosted, trade and investment between the three signatories.
Since trade liberalisation has an effect on labour, NAFTA’s implementation was controversial in the United States. Nonetheless, studies conducted before 1994 indicated that NAFTA’s impact on the US labour market would be small. Since the agreement’s inception, the United States has faced a decline in manufacturing employment and rising income inequality. However, an analysis of NAFTA’s influence on US employment, wages, and income inequality demonstrates that the impact on these has, on average, been small. Less skilled labour is often cited as having been negatively affected by NAFTA. However, other factors such as trade with China and technological innovation have made a more significant contribution. NAFTA has not been the main driver of changes in the labour market, and protectionism is not a means by which a rise in employment can be achieved. Therefore, implementing protectionist policies is not an appropriate way to handle the loss of US manufacturing employment, and rising income inequality. Reinstating trade barriers could, in fact, lead to a greater loss of employment in the US as well as a reduction in welfare. Therefore, other measures should be considered. The US government should develop further functional mechanisms to facilitate the redistribution of wealth amongst society. Likewise, adjustment assistance programmes should be extended to ease the negative consequences of labour market changes, introduced through trade or technology.
The global financial crisis of 2007/08 revealed the necessity of improved stabilisation and regulation of the global as well as European financial markets. In this context, increased attention was given to financial transaction taxes and in 2011, the introduction of a European Union Financial Transaction Tax was first proposed. The objectives for this tax, set out by the European Commission, were tripartite: financial revenue generation, regulative strengthening and the improvement of the efficiency of financial markets.
The aim of this thesis is to examine whether the European Union Financial Transaction Tax would be an effective means to curb speculation in the European financial markets, and a suitable tax solution for the European Union. The thesis further analyses whether this tax could increase the financial markets efficiency, and contribute to a fair and substantial contribution of the financial sector to the participating countries’ public finances. In this regard, underlying theoretical concepts, potential positive effects of the transaction tax, as well as detriments and shortcomings are discussed. The conclusion of the thesis is that the European Union Financial Transaction Tax might be effective in curbing speculation, should it be implemented in a way that prevents tax evasion. In addition, it is very likely that the tax would raise a significant amount of revenue. However, despite the arguments in favour of the introduction of said tax, it is currently under great pressure with many issues left unanswered.
This paper will focus on inequality, especially on income inequality as an indicator for economic well-being. The purpose is to look at how income inequality is defined and measured, and the global development thereof and consequent drivers, and how a state can redistribute income, including through fiscal policies. A geographical focus will be drawn, as Germany and the United States will be examined in more detail. Also, a short examination of key differences between the two to-be-examined countries will be made to gain insights on how two advanced economies can show such distinct differences in inequality. In the end the author hopes to suggest policy relevant focuses in the hopes of decreasing income inequality in the future.
Recent economic recession in Russia raises the question whether it
could be a consequence of the Dutch disease. This thesis attempts to
find out if Russia is sick with Dutch disease. The following symptoms of
the disease are derived from the theoretical model by Corden and
Neary (1982): (A) the appreciation of the real exchange rate; (B) the
contraction of tradable sector and the growth of non-tradable sector; (C)
the overall increase of real wages in the economy. The symptoms are
empirically investigated through analysing the statistical data from
Rosstat and other databases. The results of analysis show that all
examined symptoms of Dutch disease are present in Russia. However,
some of these symptoms could be explained by other factors like rise in
productivity or ‘de-shadowization’ of wages, which could have induced
the same effects on the economy. Nevertheless, all facts indicate a high
risk of Dutch disease presence in Russia. Therefore, the government
and the Bank of Russia should implement the appropriate fiscal and
monetary policies such as expansion of the size of sovereign
stabilization fund and the improvement of its governance as well as
introduction of smart inflation targeting approach.
Cash, Less Cash and Cash-less: An Analysis of the Preferred Payment Methods in Germany and Sweden
(2019)
This paper focuses on the preferred payment methods in Sweden and in Germany. The current trends will be explored to find out which differences there are in regards to this matter and why. A cross-country analysis is made considering the costs, safety, and other important features of cash versus non-cash payment methods. Sweden is considered a country that is using less and less cash, almost on the way to becoming a cashless society. Germany on the other hand has stayed loyal to their Euro-banknotes and coins, with it being the most popular method at point-of-sales transactions. This is due to their different social norms, which have been shaped by their countries’ histories.
Is Germany going to follow in Sweden’s footsteps and turn away from cash?
No, not any time soon.