BORIS Theses

BORIS Theses
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Essays in Macroeconomics

Kyriacou, Lucas Christopher Andreas (2023). Essays in Macroeconomics. (Thesis). Universität Bern, Bern

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This dissertation consists of four separate essays on macroeconomics. The first three chapters present empirical contributions that focus on quantifying the impact of various shocks using time series models frequently used in modern macroeconomics. The last chapter has a different methodological scope. It develops a novel experimental format to simulate international climate change negotiations. In the first chapter, I quantify the role of autonomous fluctuations in consumer confidence in driving business-cycle fluctuations in the United States (US). This chapter concludes that confidence shocks play only a minor role in US business-cycle fluctuations. In the second chapter, I identify the main driver of business-cycle fluctuations in six advanced economies to establish a common international pattern. I find that business-cycles in advanced economies are all alike and driven by the same type of aggregate demand shock. In the third chapter, co-authored with Larissa Schwaller, we identify monetary policy shocks to investigate the cost central banks incur when attempting to lean against housing prices or credit aggregates using their interest rate instrument. We find that the effect of such policies is limited and associated with significant real economic costs. In the fourth chapter, co-authored with Klaus Schmidt and Elisa Hofmann, we develop a novel experimental format to simulate international climate change negotiations. We compare negotiations on individual commitments, as in the Paris agreement, with negotiations on a common commitment, such as a uniform global carbon price. We find that there is a significant and positive impact on long-term emissions when negotiations focus on a uniform global carbon price.

Item Type: Thesis
Dissertation Type: Single
Date of Defense: 30 March 2023
Subjects: 300 Social sciences, sociology & anthropology > 330 Economics
Institute / Center: 03 Faculty of Business, Economics and Social Sciences > Department of Economics
Depositing User: Sarah Stalder
Date Deposited: 10 Aug 2023 06:44
Last Modified: 30 Mar 2024 23:25

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