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Ail Theory And The Ailing Phillips Curve
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Book Synopsis AIL Theory and the Ailing Phillips Curve by : Roger E. A. Farmer
Download or read book AIL Theory and the Ailing Phillips Curve written by Roger E. A. Farmer and published by . This book was released on 1989 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents empirical evidence from U.S. data of a structurally stable aggregate supply relationship between real and nominal rates of interest and the rate of unemployment. The paper reviews theories of contracts that are based on the twin assumptions of asymmetric information and limited collateral and it argues that these theories (referred to as A.I.L. theories) provide a strong theoretical foundation for a contract-based theory of aggregate supply. It is suggested that the original Phillips curve estimates should be reinterpreted in the light of A.I.L. theories which represent alternatives to the Phelps-Friedman interpretation of the Phillips relationship.
Book Synopsis Asymmetric Information, Corporate Finance, and Investment by : R. Glenn Hubbard
Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Download or read book Working Paper written by and published by . This book was released on 1979 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1988 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Imperfect Capital Markets and Economic Fluctuations by : Eric Hansen
Download or read book Imperfect Capital Markets and Economic Fluctuations written by Eric Hansen and published by . This book was released on 1992 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working Paper Series written by and published by . This book was released on 1989 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Solving Nonlinear Stochastic Growth Models by : John B. Taylor
Download or read book Solving Nonlinear Stochastic Growth Models written by John B. Taylor and published by . This book was released on 1989 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to report on a comparison of several alternative numerical solution techniques for nonlinear rational expectations models. The comparison was made by asking individual researchers to apply their different solution techniques to a simple representative agent, optimal, stochastic growth model. Decision rules as well as simulated time series are compared. The differences among the methods turned out to be quite substantial for certain aspects of the growth model. Therefore, researchers might want to be careful not to rely blindly on the results of any chosen numerical solution method in applied work.
Book Synopsis Capital Allocation, Bankruptcy and Endogenous Growth in an Economy with Incomplete Asset Markets by : Tao Zha
Download or read book Capital Allocation, Bankruptcy and Endogenous Growth in an Economy with Incomplete Asset Markets written by Tao Zha and published by . This book was released on 1992 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Econometrics written by and published by . This book was released on 1997 with total page 794 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Multi-country Study of the Information in the Term Structure about Future Inflation by : Frederic S. Mishkin
Download or read book A Multi-country Study of the Information in the Term Structure about Future Inflation written by Frederic S. Mishkin and published by . This book was released on 1989 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence on what the term structure (for maturities of twelve months or less) tells us about future inflation in ten OECD countries. The empirical results on the information in the term structure contrast with those that find that the level of interest rates help forecast the future level of inflation. Instead, they indicate that for the majority of the countries in the sample, the term structure does not contain a great deal of information about the future path of inflation. The results for France, the United Kingdom and Germany tell a different story, however. In these countries, the term structure contains a highly significant amount of information about future changes in inflation. The evidence in this paper suggests that central banks for most of the countries studied here should exercise some caution in using the term structure of interest rates as a guide for assessing inflationary pressures in the economy, as is currently under consideration in the U.S. central bank. Although there is significant information in the term structure about the future path of inflation for a few of the countries, this is not a result that is true in general. The empirical evidence does reveal, however, that for every country studied except the United Kingdom, there is a great deal of information in the term structure of nominal' interest rates about the term structure of real' interest rates. This finding is an extremely useful one because it suggests that for most countries researchers can examine observable data on the nominal term structure to provide them with information about the behavior of the real' term structure.
Book Synopsis Index of Economic Articles in Journals and Collective Volumes by :
Download or read book Index of Economic Articles in Journals and Collective Volumes written by and published by . This book was released on 1993 with total page 1176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book FRBSF Weekly Letter written by and published by . This book was released on 1990 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investment, Financial Factors and Cash Flow by : M. P. Devereux
Download or read book Investment, Financial Factors and Cash Flow written by M. P. Devereux and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Index of Economic Articles in Journals and Collective Volumes by : American Economic Association
Download or read book Index of Economic Articles in Journals and Collective Volumes written by American Economic Association and published by . This book was released on 1990 with total page 1178 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Library Acquisitions List by : Martin P. Catherwood Library
Download or read book Library Acquisitions List written by Martin P. Catherwood Library and published by . This book was released on 1990 with total page 1028 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Latin American Economic Development, 1950-1980 by : Eliana A. Cardoso
Download or read book Latin American Economic Development, 1950-1980 written by Eliana A. Cardoso and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper stresses the evolutionary and adaptive experience of Latin American growth between 1950 and 1980, and provides a synthetic view by considering the sources of growth within a simple production framework. Regressions use quinquennial panel data for 18 Latin American countries.They provide an estimate of the net return to investment, of the elasticity of output to labor and of the contribution of other variables with influence on efficiency. The regressions show that Latin American growth varied systematically with trade performance. The paper provides information on the effects of inflation upon per capita income growth in the region. There is a negative correlation: an inflation rate of even 20 percent reduces the per capita growth rate by 0.4 percentage point, or almost 1.5 percent of the regional mean of 3 percent growth between 1950 and 1980. This result does not hold, however, once high inflation observations are excluded. Finally we call attention to the persistent problems of income distribution and poverty.
Book Synopsis The Non-optimality of Optimal Trade Policies by : Kala Krishna
Download or read book The Non-optimality of Optimal Trade Policies written by Kala Krishna and published by . This book was released on 1989 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
