Measuring transmembrane water exchange can provide potential biomarkers for tumors and brain disorders. Diffusion Magnetic Resonance Imaging (dMRI) is a well-established tool that can non-invasively measure water exchange across cell membranes. Diffusion Exchange Spectroscopy (DEXSY) is one of the dMRI-based frameworks used to estimate exchange. DEXSY provides a detailed picture of multi-site exchange processes but requires a large quantity of data. Several models based on the DEXSY framework have been proposed to reduce the acquisition time. Filter Exchange Imaging (FEXI) and curvature models are two of them that only require certain samples of the DEXSY dataset. Diffusion-Exchange Weighted (DEW) Imaging model is another data reduction method accounting for restricted diffusion within cells and can use a specific subset of the DEXSY dataset to measure exchange. Furthermore, a more general expression of the DEXSY signal, referred to as the general model, can theoretically analyze the full space or reduced DEXSY datasets and estimate exchange. However, the results of the subsampling schemes and the data reduction models have not been compared to the full space estimation.  Therefore, this thesis aims to experimentally explore the feasibility of estimating exchange using these four models (the general, FEXI, curvature and DEW models) with the data acquired using a low-field benchtop MR scanner, and compare the estimates from the general model with different subsampling schemes and the data reduction models to the full space estimation. For this purpose, a double diffusion encoding (DDE) sequence was modified from an existing sequence on the benchtop MR scanner and a DEXSY experiment was conducted on this MR scanner and a yeast phantom to acquire a full space dataset. The exchange parameters estimated from the full space dataset using the general model were used as "ground truths" to evaluate the estimates from the reduced datasets analyzed using the general, FEXI and curvature models. Moreover, two alternative subsampling schemes named the shifted DEW and new trajectory schemes were proposed and employed to measure exchange. The results indicate that all the methods except the curvature sampling scheme employed with both the general and curvature models provided comparable estimates to the "ground truths". The shifted DEW and new trajectory sampling schemes performed better over others in terms of consistency with the "ground truths" and low variations between voxels, suggesting the theoretical and experimental optimization of these two subsampling schemes can be further studied and developed.

No description available.

Using a hybrid of the Heckscher–Ohlin model and specific factor model of trade, this article considers the phenomenon of FDI inflows only in the exportable sector of developing economies. We investigate the impact of such capital flow on factor prices and the real exchange rate (RER) in the host country. Our results indicate that the exportable production expands while both the non-traded good production and the return to the factor specific to the non-traded good decrease, consequent upon an inflow of capital specific to the exportable sector. The effect of such inflow of foreign capital on the RER is unambiguous and it increases. JEL Codes: F1, F21, F31

This study has analysed the misalignment of the real exchange rates of the eleven original euro members at the introduction of the euro, and their consequences for inflation in the first five and ten years of the monetary union. Using four separate models of real equilibrium exchange rates, the largest overvaluations are found for Portugal and Germany, and the largest undervaluations are found for Ireland and Finland. In accordance with theory, adjustment towards equilibrium through inflation rate differentials seems to have occurred: the effect being clear with regard to two of the models, and ambiguous according to the two remaining. The study sheds light on the appropriateness of the conversion rates at the introduction of the euro in 1999, and the macroeconomic consequences of real exchange rate misalignment.

This dissertation investigates the effects of changes in technologies and trade-related policies on income inequality. The first chapter shows that an advancement in labor saving technologies, known as automation, raises the agglomeration of economic activity in large cities and increases wage inequality across regions. I show novel stylized facts about the relationship between city size and the routineness of tasks performed by workers. I develop a general equilibrium model of a spatial economy where automation affects the type of tasks performed by workers and is related to a firm's choice of production location. The model generates several predictions that are consistent with stylized facts and existing empirical evidence: larger cities have greater agglomerations of firms and grow larger when firms can automate more tasks in the production process. The model predicts that an increase in automation raises wage dispersion between larger and smaller cities. A 20% rise in automation increases wages in the top decile of largest cities by about 8% and lowers wages in smaller cities by about 2-8% and hence widens the wage gap by about 10 to 16 %. The second chapter investigates the effect of exchange rate volatility on the intensive and extensive margin of trade, and on income inequality within a country. It finds that the greater volatility in exchange rates lowers trade margins and income inequality. I derive testable predictions regarding the impact of exchange rate volatility on trade margins at the firm level and on income distribution at the industry level. I empirically test these predictions using firm-level microdata. Empirical results provide clear support in favor of the model's predictions about the effects of volatility on trade margins. Finally, in the third chapter, my coauthors and I investigate the effect of Bangladesh’s graduation from Least Developed Country (LDC) status on the price of insulin, an essential medicine for diabetes, and on households’ welfare and poverty. We find that upon Bangladesh’s graduation from LDC status, the price of insulin could rise as much as 11 times the current price for patented insulin if an unregulated monopoly is allowed. This would significantly reduce welfare and increase the incidence of poverty for households with members suffering from diabetes.

This thesis studies currency premia and their connections with macroeconomics. In the first essay, I link currency premia to capital-output ratios and the well-known “Lucas Paradox”. The “Lucas Paradox” states that there are large and persistent differences in capital-output ratios across countries, suggesting capital is not flowing to countries where it is relatively scarce. In the data, capital-output ratios vary a lot cross-sectionally even within developed countries, and they are negatively correlated with currency risk premia and risk-free rates. To rationalize these patterns, I build a quantitative multi-country model of capital accumulation with external habit and heterogeneous exposures to a global productivity shock. I show that currency risk in this model generates cross-country variations in risk-free rates and capital-output ratios that are consistent with the data. I estimate the model using GDP data from countries issuing the G10 currencies and find two main results: (1) The heterogenous loadings that I extract from GDP data alone are highly correlated with capital-output ratios; and (2) when I feed the estimated loadings into the model, model-generated capital-output ratios account for roughly 55% of the cross-country variation in the data. I conclude that variation in currency risk and therefore currency risk premia have significant effects on the real economy. In the second essay, I identify a quantitative puzzle when using canonical consumption-based asset pricing models to match currency premia under complete markets. Canonical long-run risk and habit models induce a strong, negative correlation between the variance and the mean of the log stochastic discount factor to address the well-known equity premium puzzle. When applied to an open economy with complete markets, this key feature requires that differences in currency returns should arise primarily from predictable appreciations, a requirement that is at odds with the data. We term this tension between a high equity premium, smooth risk-free rates, and largely unpredictable exchange rates the currency premium puzzle and argue it is the underlying reason why existing international asset pricing models have struggled to simultaneously match data on currency returns, equity returns, and risk-free rates. In the third essay, I show that perturbation methods lead to significant computational errors when used to solve international risk-sharing models with Epstein and Zin (1989) preferences. In particular, if countries feature different sizes, the simulating results violate law of iterated expectations. Even under symmetric setups, the errors along a typical simulation path are non-negligible. I conclude that perturbation-based solutions of EZ risk-sharing models should be used with caution.

Background: Asset prices, investment choices, and market mood can all be greatly impacted by macroeconomic factors and risk perception. Therefore, for investors, portfolio managers, policymakers, and regulators looking to negotiate the complexity of financial markets, knowing how macroeconomic factors affect risk is crucial. Objective: This study delves into the intricate relationship between macroeconomic indicators and market risk propensity, offering a comprehensive analysis of both cross-sectional and panel data. Focusing on key factors such as inflation, interest rates, exchange rates, and the Index of Industrial Production (IPP), this study explore their multifaceted impacts on market risk dynamics. Methods: To reveal the complex linkages that determine risk-taking behaviors and affect business outcomes, the study uses sophisticated econometric methodologies. Results: According to our research, inflation has a significant impact on investor sentiment and corporate profitability. Reduced profit margins and increased market risk are the results of higher inflation. Similar to this, interest rates become an important variable that affects borrowing costs, investment options, and the level of competition on the stock market. Exchange rate fluctuations, which are a key component of the global financial landscape, have been shown to have an effect on investor returns, corporate operations, and dynamics of international trade, which in turn shapes market risk. Additionally, this research reveals the complex relationship between the IPP and stock market performance, wherein good growth in industrial output signifies an expansion of the economy and investor confidence, which in turn affects demand for and the price of stocks. In contrast, a drop in the IPP denotes an economic slowdown and increased market risk. The paper also discusses the unusual impact of the COVID-19 pandemic on international financial markets, emphasizing the interaction between pandemic-induced uncertainty, exchange rate changes, and monetary policy reactions to produce novel market risk dynamics. Conclusion: In conclusion, this study offers a thorough grasp of the interactions between macroeconomic data and market risk inclination. For investors, companies, and politicians looking to comprehend the complexity of the global economic landscape, make educated decisions, and successfully manage financial risks, these insights are essential. Keyword: Propensity Risk, Stock Market, Inflation, Exchange rate and IPP.

This thesis analyses the extent to which a boom in a particular export commodity sector (i.e., oil) affects relative price of non-tradable goods against tradable goods, the real exchange rate and competitiveness in the rest of the economy: This problem has been analysed in the early stage by (Corden and Neary 1982) with the so-called ‘Dutch-disease’. As a result, booming sector (oil Sector) the country’s currency appreciates, thereby reducing the competitiveness of the country’s traditional export sector in international market. This thesis examines whether Dutch Disease is present in Iraq in the light of having not study about Dutch Disease phenomena. It evaluates the impact of growing oil revenues on non-oil sectors of the Iraqi economy. It produces some empirical evidence for the explanation non-tradable goods and contraction of tradable goods sector due to booming oil sector and appreciation real exchange rate and made tradable goods sector become uncompetitive for export. The main findings form this thesis that the Iraqi economy was subject to have the Dutch disease phenomena during the boom. Some of the indications of the disease, remarkably the increase of relative prices, the real exchange rate appreciation, contraction tradable goods sector and expansion of nontraded goods output were applicable. The study uses annual time series data sourced from home and international agencies from 1970 to 2013. Due to problem with endogeneity, the data are analysed through the use of two stages least square. Finally, the thesis discusses briefly some policy measures that will help avoid the issue of appreciation real exchange rate and changing the structure of economy out of tradable goods to non-tradable goods sector.

No description available.

No description available.