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Author :
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (916 download)
Download or read book Animal Spirits, Technology Shocks and the Business Cycle written by and published by . This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Weder
Publisher : Springer Science & Business Media
ISBN 13 : 3642470181
Total Pages : 186 pages
Book Rating : 4.6/5 (424 download)
Download or read book Business Cycle Models with Indeterminacy written by Mark Weder and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three original models which explain business cycles as a result of self-fulfilling expectations are presented. The models are founded on the structure of dynamic general equilibrium theory. Market power and increasing returns to scale are introduced which allow indeterminancy of the Rational Expectations equilibria to be obtained. Unlike the majority of existing literature on this subject, the departures from perfect markets and constant returns presented in these models are very low and, more importantly, at a realistic level to achieve the respective results. It is demonstrated in all of the presented models that stylized facts of the business cycle can be reproduced.
Author : Stéphane Dées
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (13 download)
Download or read book Animal Spirits, Fundamental Factors and Business Cycle Fluctuations written by Stéphane Dées and published by . This book was released on 2016 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores empirically the role of noisy information in cyclical developments and aims at separating fluctuations that are due to genuine changes in fundamentals from those due to temporary animal spirits or expectational errors (noise shocks). Exploiting the fact that the econometrician has a richer data-set in some dimensions than the consumers, we use a novel identification scheme in a structural vector-autoregressive (SVAR) framework. Our results show that noise shocks are more important for business cycle fluctuations than permanent (or technology) shocks. We also show that technology shocks turn negative a few years before recessions, while noise shocks are very positive at the cycle peaks. By contrast, the recovery from recessions is mostly led by technology shocks, noise shocks remaining negative for some time during this business cycle phase.
Author : Humberto López
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)
Download or read book Demand, Supply, and Animal Spirits written by Humberto López and published by . This book was released on 1996 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roger E. A. Farmer
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.3/5 (121 download)
Download or read book Real Business Cycles and the Animal Spirits Hypothesis written by Roger E. A. Farmer and published by . This book was released on 1993 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : George A. Akerlof
Publisher : Princeton University Press
ISBN 13 : 1400834724
Total Pages : 261 pages
Book Rating : 4.4/5 (8 download)
Download or read book Animal Spirits written by George A. Akerlof and published by Princeton University Press. This book was released on 2010-02-01 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: From acclaimed economists George Akerlof and Robert Shiller, the case for why government is needed to restore confidence in the economy The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government—simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life—such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes—and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits—the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time—unless we are prepared to take further, decisive action.
Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1451875657
Total Pages : 68 pages
Book Rating : 4.4/5 (518 download)
Download or read book Technology Shocks and Aggregate Fluctuations written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2004-12-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Author : Michael Woodford
Publisher : Elsevier
ISBN 13 : 9780444501561
Total Pages : 822 pages
Book Rating : 4.5/5 (15 download)
Download or read book Handbook of Macroeconomics written by Michael Woodford and published by Elsevier. This book was released on 1999 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author : Nils Gottfries
Publisher : Bloomsbury Publishing
ISBN 13 : 1137321806
Total Pages : 565 pages
Book Rating : 4.1/5 (373 download)
Download or read book Macroeconomics written by Nils Gottfries and published by Bloomsbury Publishing. This book was released on 2017-09-16 with total page 565 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written in a clear and direct style, this is the ideal core textbook for students who seek a thorough understanding of the applications of macroeconomic theory. The book combines theoretical rigour with numerous illustrative examples and engaging policy discussions. This highly-respected author has developed an innovative new approach to teaching macroeconomics, based on combining microeconomic foundations with Keynesian-style short-run policy analysis to build one unified model. Gottfries' critically-acclaimed and highly relevant approach reinforces learning and makes it easier for students to comprehend, providing the ideal preparation either for work or for further postgraduate study. The book is perfect for the higher-level intermediate macroeconomics courses, as well as offering a potential bridge between undergraduate level study and the step up to postgraduate and research level theory and content. Key features of this book include: - A real-world approach that takes into account the many market imperfections and rigidities that characterize economies in action. - An international approach using examples from a variety of world economies, and the ongoing comparison of US, UK and EU market behaviours. - Theory supported and illustrated by the presentation and analysis of real-world data. - Detailed coverage of both long and short run approaches, and the closed and open economies.
Author : Jean-Paul Barinci
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (882 download)
Download or read book Real business cycles and the animal spirits hypothesis in a CIA economy written by Jean-Paul Barinci and published by . This book was released on 2001 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sumru Altug
Publisher : World Scientific
ISBN 13 : 9812832769
Total Pages : 161 pages
Book Rating : 4.8/5 (128 download)
Download or read book Business Cycles written by Sumru Altug and published by World Scientific. This book was released on 2010 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an overview of the modern theory and empirics of business cycles. This book examines the notion of a business cycle and discusses alternative approaches to modeling. It also discusses what lies ahead for modern business cycle theory.
Author : Olivier Blanchard
Publisher : MIT Press
ISBN 13 : 9780262521741
Total Pages : 312 pages
Book Rating : 4.5/5 (217 download)
Download or read book NBER Macroeconomics Annual 1992 written by Olivier Blanchard and published by MIT Press. This book was released on 1992 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the seventh in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents What Shall We Do Today? Goals and Signposts in the Operation of Monetary Policy, Ben S. Bernanke and Frederic S. Mishkin - A Tale of Two Cities: Factor Accumulation and Technical Change in Hong Kong and Singapore, Alwyn Young - International Trade and the Wage Structure, Steven J. Davis - Imperfect Information and Macroeconomic Analysis, Joseph E. Stiglitz and Bruce Greenwald - Asset Pricing Lessons for Macroeconomics, Lars P. Hansen and John H. Cochrane - Postmortem on the Debt Crisis, Daniel Cohen
Author : John B. Taylor
Publisher : Elsevier
ISBN 13 : 0444594884
Total Pages : 2744 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of Macroeconomics written by John B. Taylor and published by Elsevier. This book was released on 2016-11-12 with total page 2744 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Macroeconomics Volumes 2A and 2B surveys major advances in macroeconomic scholarship since the publication of Volume 1 (1999), carefully distinguishing between empirical, theoretical, methodological, and policy issues, including fiscal, monetary, and regulatory policies to deal with crises, unemployment, and economic growth. As this volume shows, macroeconomics has undergone a profound change since the publication of the last volume, due in no small part to the questions thrust into the spotlight by the worldwide financial crisis of 2008. With contributions from the world’s leading macroeconomists, its reevaluation of macroeconomic scholarship and assessment of its future constitute an investment worth making. Serves a double role as a textbook for macroeconomics courses and as a gateway for students to the latest research Acts as a one-of-a-kind resource as no major collections of macroeconomic essays have been published in the last decade Builds upon Volume 1 by using its section headings to illustrate just how far macroeconomic thought has evolved
Author : Ben Bernanke
Publisher : MIT Press
ISBN 13 : 9780262522564
Total Pages : 438 pages
Book Rating : 4.5/5 (225 download)
Download or read book NBER Macroeconomics Annual 1998 written by Ben Bernanke and published by MIT Press. This book was released on 1999 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goals of the annual NBER Macroeconomics Conference are to present, extend, and apply frontier work in macroeconomics and to stimulate work by macroeconomists in policy issues. Each paper in the Annual is followed by comments and discussion.
Author : Kirsten Ralf
Publisher : Springer Science & Business Media
ISBN 13 : 3642517420
Total Pages : 242 pages
Book Rating : 4.6/5 (425 download)
Download or read book Business Cycles written by Kirsten Ralf and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: When writing the preface the main work has been done. What remains is thanking all those people who directly or indirectly contributed to the out come. My thanks go to my family and friends for their encouragement towards the completion of this book. Among the academic profession, I would like to thank Prof. Dr. Dr. Harald Scherf, my academic teacher, first. During the years at Hamburg University I benefitted especially from his profound knowledge of Keynesian theory. His way of examining an argument in an unbiased way helped me a lot to carry out the reseach I wanted to do. His confidence enabled me to finish the work. A part of the book was written while I was a visiting fellow at DELTA, Paris, where I am particularly indebted to Roger Guesnerie. I have benefitted from his encouragement, advice, and gentle criticism during discussions and seminars, especially on the topic of the time structure of economic dynamics. I would like to acknowledge the hospitality and stimulating atmosphere at DELTA. Different versions of the manuscript, or parts of it have been read by Prof. Dr. Manfred Holler, Dr. Jorg Bibow and Dr. Gabriele Kasten. Their comments and suggestions were quite helpul and are gratefully acknowledged. Additionally, I have to thank Prof. Dr. M. Funke and Prof. Dr. V. Timmer mann.
