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Essays in Fiscal Policy and Consumer Finance

Sandesh Dhungana
During recessions, fiscal, monetary and other credit provision policies are used together to combat falling consumption levels and stabilize output. Most such counter-cyclical stabilization policies are deemed effective when households use provided credit or cash towards raising consumption. Hence, a deep understanding of consumer finance is central to understanding how and when such counter-cyclical stabilization policies work, and when they do not. In my dissertation, I focus primarily on one set of stabilization policies; namely...

Education and Marriage Decisions of Japanese Women and the Role of the Equal Employment Opportunity Act

Linda Edwards, Takuya Hasebe & Tadashi Sakai
Prompted by concordant upward trends in both the university advancement rate and the unmarried rate for Japanese women, this paper investigates whether the Equal Employment Opportunity Act (EEOA), which was passed in 1985, affected women’s marriage decisions either directly or via their decisions to pursue university education. To this end, we estimate a model that treats education and marriage decisions as jointly determined using longitudinal data for Japanese women. We find strong support for the...

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