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Hamilton College Senior Thesis

The document discusses the challenges of writing a senior thesis for Hamilton College students. It describes the thesis as an overwhelming and demanding process that requires extensive research, analysis, and argumentation skills. Seeking professional writing assistance from HelpWriting.net can help students navigate this difficult journey and benefit from their expert guidance, customized approach, timely delivery of high-quality work, and confidential support.
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100% found this document useful (3 votes)
102 views8 pages

Hamilton College Senior Thesis

The document discusses the challenges of writing a senior thesis for Hamilton College students. It describes the thesis as an overwhelming and demanding process that requires extensive research, analysis, and argumentation skills. Seeking professional writing assistance from HelpWriting.net can help students navigate this difficult journey and benefit from their expert guidance, customized approach, timely delivery of high-quality work, and confidential support.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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This award was established in 1987 by members of the class of 1962 on the occasion of their 25th
reunion. This admissions data tells us that most of Hamilton's admitted students fall within the top
3% nationally on the ACT. Kinnel has published numerous articles, most recently in the Journal of
Organic Chemistry, the Journal of the American Chemical Society and the Journal of Chemical
Ecology. For the evidence-based reading and writing section, 50% of students admitted to Hamilton
scored between 670 and 740, while 25% scored below 670 and 25% scored above 740. While not
required, Hamilton offers optional interviews. Both papers were written during the fall 2018
semester. Strong application essays and glowing letters of recommendation can strengthen your
application, as can participation in meaningful extracurricular activities and a challenging high school
curriculum that includes AP, IB, or Honors classes. Private, not-for-profit higher education is the
source a large number of jobs. Tiffany's thesis finds that the use of unconventional monetary policy
and quantitative easing by the European Central Bank (ECB), specifically the large-scale Asset
Purchase Program, moved through the monetary policy transmission mechanism in markedly
different ways than did conventional policy measures. McCormick recently published a research
article in the journal Environmental Science and Technology demonstrating that minerals produced
by bacteria can play a major role in the degradation of common ground water pollutants. Other
members of the HALT Executive Board are Chair D. Hamilton College has a flexible standardized
testing requirement. It is presented on the basis of superior teaching and for having a significant and
positive impact on students. Specifically, the heterogeneity in transmission mechanism resulted in
varying response strengths in the largest four nations of the European Monetary Union—France,
Germany, Spain and Italy. While being a lecturer in several high school institutions Lona founded an
online educational project Tutorsclass. Read more. Hamilton College is a private liberal arts college
with an acceptance rate of 16.4%. Located in upstate New York, Hamilton is one of the top liberal
arts colleges in the country. Another showed how rust, sun, and water can be used to cause a
chemical reaction to generate hydrogen gas which can be used to produce energy or fuel cars, a step
forward in the search for renewable energy. The statistics reflect incredibly competitive standardized
test scores and grade point averages among those accepted. Kinnel earned a Ph.D. from the
Massachusetts Institute of Technology. Hamilton College: Acceptance Rate and Admissions
Statistics. This year’s judges included actor, writer and producer Chub Bailly, retired medical
technologist Robbie Dancy, Hamilton’s Student Fellowships Coordinator Virginia Dosch, Clinton
School Superintendent Dr. Stephen Grimm, Senior Program Manager at Northrop Grumman
Corporation Jim Muller, and Munson-Williams-Proctor Arts Institute Museum Education Coordinator
Kirsten Swartz ’12. Her research primarily focused on the impact that disclosing a diagnosis had on a
group of impartial individuals. Regardless of whether it was fall or winter, participants in her study
showed general mood improvements following their walks, which is especially good news for
students at snowy Hamilton. Dr. Allen Grove is an Alfred University English professor and a college
admissions expert with over 20 years of experience helping students transition to college.
Leavenworth Professor of Economics, earned his Ph.D. in economics from the University of
Rochester. It supports an annual prize for a tenure-track faculty member who has been employed by
the college for fewer than five years, and who has demonstrated superior teaching, high-quality
scholarly research and a significant and positive impact on students. The College received 5,230
applications this year, just short of last year’s record of 5,434. For those who submit SAT scores, the
writing section is optional. Arader used this anecdotal information to springboard into a discussion
on the continued stigmatization of the growing number of individuals diagnosed with this disorder.
If anything, they may feel a bit like becoming first years in college, except this time, they are first
years in the real world.
She then introduced pathogens into these samples and observed the results to begin to understand
what environmental factors impact immunity in all types of communities. Neel's thesis uses a
Bayesian Vector Autoregression to explore the causes and consequences of zombie firms for the
United States from 1980-2020. In 2004 McCormick and Professor of Chemistry Tim Elgren received
a grant from the NSF's Major Research Instrumentation program to support the acquisition of a
Raman Microscope. As usual, the hardest part of our job was figuring out who not to take.”.
Hamilton College athletics facilities include a 10 Court Squash Center, a three-story climbing wall, a
golf course, several athletic fields, a swimming pool and an ice rink. The acceptance rate this year
matched last year’s record-low of 25 percent. Tiffany's thesis finds that the use of unconventional
monetary policy and quantitative easing by the European Central Bank (ECB), specifically the large-
scale Asset Purchase Program, moved through the monetary policy transmission mechanism in
markedly different ways than did conventional policy measures. Besides the requirement of the
classes to contain a writing element, the curriculum in Hamilton is completely open, without required
classes or distribution requirements. Regardless of the reason, transfer students are welcomed into
the Hamilton community for their the unique perspective and the appreciation they have for their
education. But every participant was able to effectively present their topics, showing the oral
communication skills that are one of the foundational elements of a Hamilton education. He has also
focused on the study of various New York asters, and the role of germacrene D on settling and
herbivory of predator butterflies among the asters. Knute Gailor, Philanthropy Chair Mihai
Dohotaru, Programming Chair Charlotte Lescroart, and Recruiting and Placement Chair David
Goldstein. She is the co-editor, with Elaine Barkin, of Audible Traces: Gender, Identity, and Music.
Other members of the HALT Executive Board are Chair D. The fund was established by Helen
Lang, the mother of Michael C. In response, HALT “organizes letter-writing and events to thank our
alumni, parents, and friends of the College who are paying for the last third of the year,” Shapiro
explained. If that doesn’t suit you, there are hundreds of other approved programs available for
around the globe. It found that Walmart entry resulted in economically significant net increases in
employment and number of establishments for at least seven years after the year of entry, showing
that Walmart's presence increases competition among establishments in its same sub-industry
category, and creates agglomeration economies for the entire local market. Regardless of whether it
was fall or winter, participants in her study showed general mood improvements following their
walks, which is especially good news for students at snowy Hamilton. Applicants with a composite
SAT score of 1520 or higher will have particularly competitive chances at Hamilton College.
Leavenworth Professor of Economics, earned his Ph.D. in economics from the University of
Rochester. This year’s competition hosted 15 students whose majors and interests ranged from post-
colonial economics to concussion management for athletes. Each new group of seniors is selected
through an application process in which the outgoing group of HALT seniors considers the incoming
group. Rogers ’21 recently presented their senior thesis work as ePosters at the Geological Society of
America Northeastern Online Section Meeting. Professor of Geosciences Cynthia Domack was a co-
author on both. According to its site, HALT’s purpose is to “create a senior class leadership structure
to introduce seniors to the ways they can stay actively involved in the life of the College after
graduation.”. Hatch Excellence in Teaching Award; Assistant Professor of Biology Mike McCormick
was awarded the Class of 1963 Excellence in Teaching Award; Professor of Music Lydia Hamessley
received the Class of 1962 Excellence in Teaching Award; and Professor of Economics James
Bradfield received the Sidney Wertimer Award. However, Hamilton has a holistic admissions process
involving other factors beyond your grades and test scores. While the events that have occurred so
far have been HALT-only events, program members will soon notify students about seniors-only and
campus-wide events. This visualization connected to her research which found that walking outdoors
was beneficial for people’s moods as compared to walking indoors.
The average SAT score for those admitted was 1429 for critical reading and math and 715 for
writing. Anglin, Utica College President Todd Hutton and representatives from St. The change in
cross-country rankings of response strength across different samples cannot be attributed to the
evolution of structural characteristics—industry mix, export share, wage and employment
rigidities—in these countries, suggesting the existence of new channels of policy transmission. The
entire department is impressed with your perseverance and dedication to the pursuit of knowledge,
and we wish you the best of luck in the next chapter of your lives. Classes are small and prepare you
for the real world.”. This professional development is another aspect HALT is involved in. After
analyzing more than 40,000 data points, Nelson was able to understand that these tenets of good
business ownership were closely tied. Regardless of the reason, transfer students are welcomed into
the Hamilton community for their the unique perspective and the appreciation they have for their
education. Finally, please know that we are committed to ensuring that your Hamilton education is
affordable and worthy of your investment. Considering applying to this highly selective college. She
then introduced pathogens into these samples and observed the results to begin to understand what
environmental factors impact immunity in all types of communities. Specifically, the heterogeneity in
transmission mechanism resulted in varying response strengths in the largest four nations of the
European Monetary Union—France, Germany, Spain and Italy. The thesis defense will be open to
the MMC community and consist of a 20-minute slide presentation followed by an open question-
and-answer period. The Class of 1963 Excellence in Teaching Award was established in 1988 to
recognize one Hamilton faculty member each year who demonstrates extraordinary commitment to
teaching. The College received 5,230 applications this year, just short of last year’s record of 5,434.
I've worked as a volunteer in many different international social projects and as a camp counselor
every summer. Read more. The college's curriculum places particular emphasis on individualized
instruction and independent research, and the school highly values communication skills such as
writing and speaking. During the 2018-19 admissions cycle, 41% of admitted students submitted
SAT scores. Hatch Excellence in Teaching Award Yvonne Zylan, assistant professor of sociology,
earned a Ph.D. in sociology from New York University and a juris doctor degree from the University
of San Diego School of Law. In forming the class, the admission staff seeks students representing
diverse geographic, economic and ethnic backgrounds whose perspectives will enrich our
community. While not required, Hamilton offers optional interviews. Each new group of seniors is
selected through an application process in which the outgoing group of HALT seniors considers the
incoming group. The program featured a Community Partners Fair and a panel discussion, “Think
Globally, Hire Locally: A Dialogue about Working with Campuses to Attract and Retain Talent”on
which Mary Evans, assistant vice president of the career center, was a participant. Occasionally, we
are over or undersubscribed with our first-year class enrollment and will adjust these targets
accordingly. Due to the fact that many members of HALT are currently working on their fall theses,
the special projects they have planned with specific campus offices have not occurred yet. Her areas
of scholarship include law and society, sociology of gender, the state and social policy and political
sociology. This is awarded every five years to an outstanding tenured faculty member in recognition
of distinguished teaching. Hatch Excellence in Teaching Award; Assistant Professor of Biology Mike
McCormick was awarded the Class of 1963 Excellence in Teaching Award; Professor of Music Lydia
Hamessley received the Class of 1962 Excellence in Teaching Award; and Professor of Economics
James Bradfield received the Sidney Wertimer Award. These include overnight visits, mailings,
campus and residence hall tours, off-campus receptions for admitted students, podcasts, targeted
emails and admitted students information sessions. According to its site, HALT’s purpose is to
“create a senior class leadership structure to introduce seniors to the ways they can stay actively
involved in the life of the College after graduation.”.
From hiking and skiing in the Adirondacks to dining at local restaurants, there’s even movies,
shopping and much more. They are anchor tenants, talent magnets, workforce and innovation
catalysts and community partners.”. It will be published this summer in Religio et Lex:
Contemplations on Religion and Law, a publication of the Center for the Study of Religious
Freedom at Virginia Wesleyan University. Here are the Hamilton College admissions statistics you
should know. On the math section, 50% of admitted students scored between 700 and 780, while
25% scored below 700 and 25% scored above 780. Shapiro mentioned that HALT members have
staffed events such as Family Weekend, Alumni Weekend and Christmas break activities. She then
introduced pathogens into these samples and observed the results to begin to understand what
environmental factors impact immunity in all types of communities. In 2004 McCormick and
Professor of Chemistry Tim Elgren received a grant from the NSF's Major Research Instrumentation
program to support the acquisition of a Raman Microscope. Hamilton's Student Assembly initiated
the Wertimer Award in 2005 in memory of the late Sidney Wertimer, professor of economics,
emeritus, who died in February, 2005. Elizabeth College of Nursing, host campus Utica College, and
the Commission on Independent Colleges and Universities (CICU). Elizabeth’s College of Nursing
and Hartwick College. That way, it’s not like the welcome party is the seniors’ first time talking with
alumni. This popular college admits only 25% of its applicants, accepting about 1900 new students
each year. After analyzing more than 40,000 data points, Nelson was able to understand that these
tenets of good business ownership were closely tied. She teaches courses in Medieval and
Renaissance music history, world music, American folk and traditional music and opera, and she was
awarded a Kirkland Endowment Grant from Hamilton to develop courses about or concerned with
women. Hamilton requests that applicants submit all scores; however, Hamilton will consider your
highest score from each individual section across all SAT test dates. Hamilton typically seeks to
enroll about 10-20 transfer students in the fall and another 5-10 transfer students in the spring.
Considering applying to this highly selective college. This admissions data tells us that most of
Hamilton's admitted students fall within the top 20% nationally on the SAT. The independent
sector’s total enrollment is 488,180 for fall 2010. Her research primarily focused on the impact that
disclosing a diagnosis had on a group of impartial individuals. Tiffany's thesis finds that the use of
unconventional monetary policy and quantitative easing by the European Central Bank (ECB),
specifically the large-scale Asset Purchase Program, moved through the monetary policy transmission
mechanism in markedly different ways than did conventional policy measures. The thesis defense
will take place on or before May 7th of the student’s senior year (December 7th for mid-year
graduates). The middle 50% of students admitted to Hamilton received a composite ACT score
between 32 and 34, while 25% scored above 34 and 25% scored below 32. Many applicants had
impressive 4.0 GPAs and SAT scores over 1400. James Bradfield, The Sidney Wertimer Award James
Bradfield, the Elias W. This chain of letters provides a fascinating history of Hamilton’s past. Once
you figure out where your job is, you can go ahead and start contacting people, almost like getting on
the bandwagon,” said Shapiro. During the 2018-19 admissions cycle, 40% of admitted students
submitted ACT scores. The college's curriculum places particular emphasis on individualized
instruction and independent research, and the school highly values communication skills such as
writing and speaking.
Hamilton has a flexible policy regarding standardized tests. Dr. Allen Grove is an Alfred University
English professor and a college admissions expert with over 20 years of experience helping students
transition to college. Hatch Excellence in Teaching Award; Assistant Professor of Biology Mike
McCormick was awarded the Class of 1963 Excellence in Teaching Award; Professor of Music
Lydia Hamessley received the Class of 1962 Excellence in Teaching Award; and Professor of
Economics James Bradfield received the Sidney Wertimer Award. Malkiel '64 Senior Thesis Prize in
Finance for “Zombie Firms and the Macroeconomy: A Bayesian Vector Autoregression Analysis.”
Advisor: Christopher Sims What’s next: Neel will join J.P. Morgan in New York as an investment
banking analyst. Hamilton College does not provide data about admitted students' high school GPAs.
If you qualify for financial assistance and are admitted to Hamilton, we will meet your full
demonstrated financial need for all four years. The entire department is impressed with your
perseverance and dedication to the pursuit of knowledge, and we wish you the best of luck in the
next chapter of your lives. Considering applying to this highly selective college. On the math
section, 50% of admitted students scored between 700 and 780, while 25% scored below 700 and
25% scored above 780. I've worked as a volunteer in many different international social projects and
as a camp counselor every summer. Read more. This admissions data tells us that most of Hamilton's
admitted students fall within the top 3% nationally on the ACT. Working with a faculty advisor
ensures the path is responsible and informed. Once you figure out where your job is, you can go
ahead and start contacting people, almost like getting on the bandwagon,” said Shapiro. According
to its site, HALT’s purpose is to “create a senior class leadership structure to introduce seniors to the
ways they can stay actively involved in the life of the College after graduation.”. The acceptance rate
this year matched last year’s record-low of 25 percent. Due to the fact that many members of HALT
are currently working on their fall theses, the special projects they have planned with specific campus
offices have not occurred yet. It found that Walmart entry resulted in economically significant net
increases in employment and number of establishments for at least seven years after the year of
entry, showing that Walmart's presence increases competition among establishments in its same sub-
industry category, and creates agglomeration economies for the entire local market. Knute Gailor,
Philanthropy Chair Mihai Dohotaru, Programming Chair Charlotte Lescroart, and Recruiting and
Placement Chair David Goldstein. As usual, the hardest part of our job was figuring out who not to
take.”. Elizabeth College of Nursing, host campus Utica College, and the Commission on
Independent Colleges and Universities (CICU). Her research primarily focused on the impact that
disclosing a diagnosis had on a group of impartial individuals. One thesis examined alternative food
sourcing, like the “Impossible Burger” that looks, cooks, and tastes like meat but is made with plant
matter. Although the primary criteria for admission are academic achievement and intellectual
potential, we also value leadership, a commitment to school or community activities, and sustained
work experiences or family responsibilities. The statistics reflect incredibly competitive standardized
test scores and grade point averages among those accepted. Applicants may submit either SAT or
ACT scores, or three individual exams (including AP, IB, or SAT Subject tests). They are working on
this by increasing their outreach initiatives during the next month to get the word out about the
College. Hamilton College: Acceptance Rate and Admissions Statistics. For the evidence-based
reading and writing section, 50% of students admitted to Hamilton scored between 670 and 740,
while 25% scored below 670 and 25% scored above 740. This professional development is another
aspect HALT is involved in. That way, it’s not like the welcome party is the seniors’ first time talking
with alumni.
Student Alexander Potoczak did his Bachelor of Arts in Economics. With many theses consisting of
over 50 pages of analysis, each student was expected to demonstrate their understanding and passion
by condensing the most significant elements of their year- or semester-long research into a bite-sized
presentation with minimal use of notes and visual aids. They join those admitted through early
decision I and II to form a total of 1,317 admitted students for next year. Copies of every senior
thesis dating back to 1927 are catalogued by the university to inform research for years to come.
Hamilton College does not provide data about admitted students' high school GPAs. Hamilton
College: Acceptance Rate and Admissions Statistics. Typically the college enrolls about 1,900
students accepting about 25% of the total applicants. The Hamilton College bookstore has a very
comprehensive website that makes the task of finding the right textbook and renting or buying it
much easier. That way, it’s not like the welcome party is the seniors’ first time talking with alumni.
This year’s judges included actor, writer and producer Chub Bailly, retired medical technologist
Robbie Dancy, Hamilton’s Student Fellowships Coordinator Virginia Dosch, Clinton School
Superintendent Dr. Stephen Grimm, Senior Program Manager at Northrop Grumman Corporation Jim
Muller, and Munson-Williams-Proctor Arts Institute Museum Education Coordinator Kirsten Swartz
’12. Other sessions included a networking breakfast and presentations by elected officials, CICU
president Laura L. He is a lecturer on financial markets, microeconomic theory, and mathematical
economics. In 2010-11, private, not-for-profit campuses granted 136,559 undergraduate and graduate
degrees. Besides the requirement of the classes to contain a writing element, the curriculum in
Hamilton is completely open, without required classes or distribution requirements. Most current
students have either attended or since observed this day and the accompanying campus wide event
showing prospective students what Hamilton has to offer. Each new group of seniors is selected
through an application process in which the outgoing group of HALT seniors considers the incoming
group. This visualization connected to her research which found that walking outdoors was beneficial
for people’s moods as compared to walking indoors. This instrument is being used to support the
geo-microbiology research activities in McCormick's lab and bio-inorganic studies in Elgren's lab.
This popular college admits only 25% of its applicants, accepting about 1900 new students each year.
Both posters were in the Sedimentology, Stratigraphy, and Paleontology Session. The independent
sector of higher education produced 52 percent of the bachelor’s degrees earned in New York State
in 2010-11; 71 percent of the master’s degrees; and 79 percent of the doctorate and professional
degrees, according to data from the National Center for Education Statistics, Integrated
Postsecondary Education Data System (IPEDS). Elizabeth’s College of Nursing and Hartwick
College. Using the TV provider industry as a motivating example, Aaron's thesis models the
behavior of consumers with dynamic switching costs to explain incumbent firms' practices of
offering high base prices to all consumers (despite growing competition from entrants), and ex post
retention discounts to those that cancel their subscriptions. The level of security on campus is very
high, with 24-hour security patrols ready to assist the students at any time. The program featured a
Community Partners Fair and a panel discussion, “Think Globally, Hire Locally: A Dialogue about
Working with Campuses to Attract and Retain Talent”on which Mary Evans, assistant vice president
of the career center, was a participant. For those who submit ACT scores, the writing section is
optional. The unifying thread among the presentations is how they took nuanced approaches to
important topics in their respective fields and tackled problems facing modern society. If anything,
they may feel a bit like becoming first years in college, except this time, they are first years in the
real world. Visit us You can learn a great deal about Hamilton by exploring our website or reading
our publications, but there’s no substitute for visiting our magnificent hilltop campus. Hamilton
College athletics facilities include a 10 Court Squash Center, a three-story climbing wall, a golf
course, several athletic fields, a swimming pool and an ice rink.
Hamilton requests that applicants submit all scores; however, Hamilton will consider your highest
score from each individual section across all SAT test dates. He has also focused on the study of
various New York asters, and the role of germacrene D on settling and herbivory of predator
butterflies among the asters. This admissions data tells us that most of Hamilton's admitted students
fall within the top 3% nationally on the ACT. Elizabeth College of Nursing, host campus Utica
College, and the Commission on Independent Colleges and Universities (CICU). One reason for this
is the increase in demand we see in rising numbers of applications over the years. This is awarded
every five years to an outstanding tenured faculty member in recognition of distinguished teaching.
I've worked as a volunteer in many different international social projects and as a camp counselor
every summer. Read more. Kinnel's primary focus at Hamilton has been on research and teaching in
organic chemistry. The independent sector of higher education produced 52 percent of the bachelor’s
degrees earned in New York State in 2010-11; 71 percent of the master’s degrees; and 79 percent of
the doctorate and professional degrees, according to data from the National Center for Education
Statistics, Integrated Postsecondary Education Data System (IPEDS). The thesis defense will be
open to the MMC community and consist of a 20-minute slide presentation followed by an open
question-and-answer period. Lastly, Hamilton seeks to admit candidates who are a good fit with the
experience the College offers. He is a lecturer on financial markets, microeconomic theory, and
mathematical economics. From hiking and skiing in the Adirondacks to dining at local restaurants,
there’s even movies, shopping and much more. Here are the Hamilton College admissions statistics
you should know. For those who submit ACT scores, the writing section is optional. During the
2018-19 admissions cycle, Hamilton College had an acceptance rate of 16.4%. This means that for
every 100 students who applied, 16 students were admitted, making Hamilton's admissions process
highly competitive. Open to all members of the senior class, the competition offers cash prizes for the
students who can most effectively summarize their senior projects in three minutes or less.
Specifically, the heterogeneity in transmission mechanism resulted in varying response strengths in
the largest four nations of the European Monetary Union—France, Germany, Spain and Italy. The
middle 50% of students admitted to Hamilton received a composite ACT score between 32 and 34,
while 25% scored above 34 and 25% scored below 32. Using the TV provider industry as a
motivating example, Aaron's thesis models the behavior of consumers with dynamic switching costs
to explain incumbent firms' practices of offering high base prices to all consumers (despite growing
competition from entrants), and ex post retention discounts to those that cancel their subscriptions.
In 2019, 83% of admitted students who provided data indicated that they ranked in the top tenth of
their high school class. This admissions data tells us that most of Hamilton's admitted students fall
within the top 20% nationally on the SAT. This award was established in 1987 by members of the
class of 1962 on the occasion of their 25th reunion. Hamilton College athletics facilities include a 10
Court Squash Center, a three-story climbing wall, a golf course, several athletic fields, a swimming
pool and an ice rink. The competition supports their capacity to effectively explain their research in
three minutes, in a language appropriate to a non-specialist audience.”. Speaking persuasively and
writing clearly are core tenants to an education at Hamilton College. Regardless of whether it was
fall or winter, participants in her study showed general mood improvements following their walks,
which is especially good news for students at snowy Hamilton. Karthik's thesis analyzes the
employment effects of the Trump Tariffs in the automobile and apparel industries and finds that the
Trump Tariffs had no significant effect on domestic employment in both industries. They are
working on this by increasing their outreach initiatives during the next month to get the word out
about the College. Despite the mechanism proposed by the literature in which weakly capitalized
banks and monetary policy keep zombie firms afloat, consequently impairing aggregate productivity,
investment, and prices, he shows zombie firms are neither a byproduct of bank health nor are they
uniquely destructive to the macroeconomy.

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