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Author : Ming Ouyang
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (184 download)
Download or read book A Study of Hysteresis in the Open Canadian Economy written by Ming Ouyang and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Study of Hysteresis in the Open Canadian Economy written by and published by . This book was released on 1910 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation analyzes the phenomena of hysteresis in the Canadian economy from an open economy approach which combines studies of hysteresis in the international trade and the domestic labour market. In the theoretical analysis, two models for a small open economy are developed: one for the aggregate demand side and one for the aggregate supply side. The first one presents a hysteretic IS-LM-BP model which shows that trade hysteresis could result in a vertical IS curve and bend the aggregate demand curve until it is infinitely inelastic. A very steep aggregate demand curve explains the demand side hysteresis in the domestic economy. The second model derives an open economy version of the Phillips curve by allowing the exchange rate to enter the right-hand-side of the equation, and provides a theoretical base for empirical testing. The empirical analysis of this study tests trade hysteresis and estimates the Phillips curve. Following the widely used approach of trade hysteresis testing, the unit root and the cointegration tests are performed on the series of net exports and the exchange rate for the data sets of the US, the OECD, and the rest of the world. The results show that both of net exports and the exchange rate followed random walk, and there is no cointegration between the two series which is consistent with trade hysteresis. The Phillips curve estimation includes two steps. Step one uses the causality test to show that changes in the exchange rate cause changes in the inflation rate, but not vice versa, which supports the open economy version of the Phillips curve. The next step is to estimate the Phillips curve, and the degree of hysteresis is calculated from the results of the estimation. In alternative estimations with different measurements of the unemployment rate, different data periods, and different data frequencies, the results suggest that hysteresis has been significant in the Canadian economy.
Author : Stephen R.G. Jones
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 0773565426
Total Pages : 183 pages
Book Rating : 4.7/5 (735 download)
Download or read book Persistence of Unemployment written by Stephen R.G. Jones and published by McGill-Queen's Press - MQUP. This book was released on 1995-11-01 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The deep recession and slow recovery of the Canadian economy in the 1980s and the lengthy recession of the early 1990s raised serious questions about economic policy making. The steady worsening of Canadian unemployment rates led some economists to doubt the traditional view that the national economy is by nature self-correcting and to endorse the concept of hysteresis - the idea that the unemployment rate may display no tendency to return to an unchanging natural rate. Such hysteresis would have important and far-reaching implications for economic policy, particularly monetary policy. Jones provides an overview of leading theories of hysteresis and examines international and Canadian evidence from both microeconomic and macroeconomic perspectives. He extends the econometric analysis of hysteresis at both the micro and macro levels and concludes that while there is some evidence of dependence in Canada, the overall picture is not one of hysteresis.
Author : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Terry O'Shaughnessy
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.E/5 ( download)
Download or read book Hysteresis in an Open Economy Model written by Terry O'Shaughnessy and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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ISBN 13 :
Total Pages : 776 pages
Book Rating : 4.F/5 ( download)
Download or read book American Doctoral Dissertations written by and published by . This book was released on 2001 with total page 776 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen S. Poloz
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (9 download)
Download or read book Is Hysteresis a Characteristic of the Canadian Labour Market? written by Stephen S. Poloz and published by . This book was released on 1992 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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Publisher : Natural Resources Canada
ISBN 13 :
Total Pages : 350 pages
Book Rating : 4./5 ( download)
Download or read book Geological Survey of Canada, Open File 1448 written by and published by Natural Resources Canada. This book was released on with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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ISBN 13 :
Total Pages : 780 pages
Book Rating : 4.:/5 (319 download)
Download or read book Working Papers written by and published by . This book was released on 1988 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard G. Harris
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (318 download)
Download or read book Exchange Rates and International Competitiveness of the Canadian Economy written by Richard G. Harris and published by . This book was released on 1992 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This document presents background information on the competitiveness concept. It discusses the equilibrium exchange rates and the current account. It also looks at short-run effects of exchange-rate changes. It provides a summary and policy conclusions.
Author : J. David Richardson
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.F/5 ( download)
Download or read book Empirical Research on Trade Liberalisation with Imperfect Competition written by J. David Richardson and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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ISBN 13 :
Total Pages : 242 pages
Book Rating : 4.3/5 (121 download)
Download or read book OECD Economic Studies written by and published by . This book was released on 1989 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. David Richardson
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Empirical Research on Trade Liberalization with Imperfect Competition written by J. David Richardson and published by . This book was released on 1989 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan Professor Winters
Publisher : Routledge
ISBN 13 : 1134887981
Total Pages : 450 pages
Book Rating : 4.1/5 (348 download)
Download or read book International Economics written by Alan Professor Winters and published by Routledge. This book was released on 2002-09-11 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1991. Routledge is an imprint of Taylor & Francis, an informa company.
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ISBN 13 :
Total Pages : 524 pages
Book Rating : 4.:/5 (5 download)
Download or read book The Canadian Journal of Economics written by and published by . This book was released on 1997 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pan A. Yotopoulos
Publisher : Cambridge University Press
ISBN 13 : 9780521482165
Total Pages : 356 pages
Book Rating : 4.4/5 (821 download)
Download or read book Exchange Rate Parity for Trade and Development written by Pan A. Yotopoulos and published by Cambridge University Press. This book was released on 1996 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extends recent theories of incomplete markets to investigate empirically the appropriate balance between the market and the state in the trade relations between developed and developing countries. The conclusion is that in an ideal world government intervention in foreign exchange and trade is necessary in developing countries in the early stages and inevitably decreases as development occurs. Rationing of foreign exchange prevents a 'soft currency distortion' that commonly afflicts developing countries and can turn comparative advantage trade into competitive devaluation trade, with severe losses of income and welfare. Yotopoulos finds that the level of underdevelopment narrowly circumscribes and conditions the extent to which free-market, free-trade, laissez-faire can be beneficial, contrary to the mainstream policy paradigm as currently applied. The analysis and tests draw on empirical research from seventy countries and four extended country studies to confirm the usefulness and validity of the theoretical framework.
Author : Mr.Robert P. Flood
Publisher : International Monetary Fund
ISBN 13 : 1451963092
Total Pages : 236 pages
Book Rating : 4.4/5 (519 download)
Download or read book IMF Staff Papers, Volume 47, Special Issue, IMF Annual Research Conference, written by Mr.Robert P. Flood and published by International Monetary Fund. This book was released on 2001-11-28 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a broad overview of postwar analytical thinking on international macroeconomics, culminating in a more detailed discussion of recent progress. The paper reviews important empirical evidence that has inspired alternative modeling approaches, as well as theoretical and policy considerations behind developments in the field. The paper presents an empirical study of fiscal policy in countries with extreme monetary regimes. It also examines members of multilateral currency unions, dollarized countries that officially use the money of another country, and countries using currency boards.
