Document Type
Dissertation
Degree
Doctor of Philosophy (PhD)
Major/Program
Economics
First Advisor's Name
Dr. Cem Karayalcin
First Advisor's Committee Title
Committee Chair
Second Advisor's Name
Dr. Jesse Bull
Second Advisor's Committee Title
Committee Member
Third Advisor's Name
Dr. Abu S. Shonchoy
Third Advisor's Committee Title
Committee Member
Fourth Advisor's Name
Dr. Hassan Zahedi-Jasbi
Fourth Advisor's Committee Title
Committee Member
Keywords
macroeconomics, savers, borrowers, credit cycles, credit constraints, wealth, retirees
Date of Defense
4-5-2021
Abstract
This dissertation comprises of three Essays. The first essay classifies households as savers and borrowers based on their wealth during the credit cycle. It examines the wealth effects of the saving and housing decisions of heterogeneous households over a credit cycle. To do so, we employ the Difference-in-Difference estimator and find evidence of a significant difference between the wealth effect for savers and borrowers. In the second essay, we examine the extent to which credit-constrained households are able to accumulate wealth when the macro environment is characterized by the presence of a liquidity trap and borrowing constraints. Our evidence highlights the importance of credit constraints in modeling household saving behavior. In the third essay, we evaluate the role of education, household composition, health expenditures, and bequest motives in determining retiree wealth. We find that the bequest motive positively affects the wealth of retirees as they save more and accumulate assets to ensure that their offspring inherit part of their wealth.
Identifier
FIDC010177
ORCID
https://orcid.org/0000-0002-0109-7233
Creative Commons License
This work is licensed under a Creative Commons Attribution-Share Alike 4.0 License.
Recommended Citation
Aljahani, Maryam, "Essays on Macroeconomics and Financial Economics" (2021). FIU Electronic Theses and Dissertations. 4829.
https://digitalcommons.fiu.edu/etd/4829
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