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Author : Mark A. Wynne
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (878 download)
Download or read book Business Cycles Under Monetary Union written by Mark A. Wynne and published by . This book was released on 1997 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark A. Wynne
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Business Cycles Under Monetary Union written by Mark A. Wynne and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents business cycle similarities and differences among the 12 Federal Reserve districts in the USA and the 15 countries that make up the EU. The comparison is suggestive of what might be expected to emerge in the way of business cycle synchronization from a monetary union between the member states of the EU.
Author : Mirko Abbritti
Publisher : International Monetary Fund
ISBN 13 : 1498311482
Total Pages : 52 pages
Book Rating : 4.4/5 (983 download)
Download or read book Market Regulation, Cycles and Growth in a Monetary Union written by Mirko Abbritti and published by International Monetary Fund. This book was released on 2019-06-03 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: We build a two-country currency union DSGE model with endogenous growth to assess the role of cross-country differences in product and labor market regulations for long-term growth and for the adjustment to shocks. We show that with endogenous growth, there is no reason to expect real income convergence. Large shocks, through endogenous TFP movements, can lead to permanent changes of output and real exchange rates. Differences are exacerbated when member countries have different product and labor market regulations. Less regulated economies are likely to have higher trend growth and recover faster from negative shocks. Results are consistent with higher inflation, lower employment and disappointing TFP growth rates experienced in the less reform-friendly euro area members.
Author : Robert Ackrill
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (258 download)
Download or read book Political Business Cycles and Economic and Monetary Union in the European Union written by Robert Ackrill and published by . This book was released on 1996 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marc Flandreau
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (248 download)
Download or read book Monetary Union, Trade Integration, and Business Cycles in 19th Century Europe written by Marc Flandreau and published by . This book was released on 2001 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marcus Kappler
Publisher : Springer Science & Business Media
ISBN 13 : 3790828556
Total Pages : 197 pages
Book Rating : 4.7/5 (98 download)
Download or read book Business Cycle Synchronisation and Economic Integration written by Marcus Kappler and published by Springer Science & Business Media. This book was released on 2012-07-30 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the reader a state-of-the-art overview on theory and empirics of business cycle synchronisation, structural reform and economic integration. Focusing on the ongoing integration process in the euro area and the EU, it analyses the integration process that has taken place since the 1980s and which is marked by the advent of the euro and the substantial enlargement that resulted from the accession of 12 new Member States in East and Southern Europe.
Author : Victor Zarnowitz
Publisher : University of Chicago Press
ISBN 13 : 0226978907
Total Pages : 614 pages
Book Rating : 4.2/5 (269 download)
Download or read book Business Cycles written by Victor Zarnowitz and published by University of Chicago Press. This book was released on 1992-06-15 with total page 614 pages. Available in PDF, EPUB and Kindle. Book excerpt: Victor Zarnowitz has long been a leader in the study of business cycles, growth, inflation, and forecasting. These papers represent a carefully integrated and up-to-date study of business cycles, reexamining some of his earlier research as well as addressing recent developments in the literature and in history. In part one, Zarnowitz reviews with characteristic insight various theories of the business cycle, including Keynesian and monetary theories as well as more recent rational expectations and real business cycle theories. In doing so, he examines how the business cycle may have changed as the size of government, the exercise of fiscal and monetary policies, the openness of the economy to international forces, and the industrial structure have evolved over time. Emphasizing important research from the 1980s, Zarnowitz discusses in part two various measures of the trends and cycles in economic activity, including output, prices, inventories, investment in residential and nonresidential structures, equipment, and other economic variables. Here the author explores the duration and severity of U.S. business cycles over more than 150 years, and evaluates the ability of macro models to simulate past behavior of the economy. In part three the performance of leading, coincident, and lagging indicators is described and assessed and evidence is presented on the value of their composite measures. Finally, part four offers an analysis of the degree of success of large commercial forecasting firms and of many individual economists in predicting the course of inflation, real growth, unemployment, interest rates, and other key economic variables. Business Cycles is a timely study, certain tobecome a basic reference for professional forecasters and economists in government, academia, and the business community.
Author : Mr.Ayhan Kose
Publisher : International Monetary Fund
ISBN 13 : 1451870019
Total Pages : 51 pages
Book Rating : 4.4/5 (518 download)
Download or read book Global Business Cycles written by Mr.Ayhan Kose and published by International Monetary Fund. This book was released on 2008-06-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.
Author : Marc Flandreau
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.X/5 (6 download)
Download or read book Monetary Union, Trade Integration, and Business Cycles in 18th Century Europe written by Marc Flandreau and published by . This book was released on 2001 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Simons
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Monetary Union in West Africa and Business Cycles Synchronicity written by Daniel Simons and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the light of the initiative of the West African Monetary Zone (WAMZ) to introduce a common currency by 2020, this paper investigates the intricacies of the business cycles synchronicity among the six countries. Given: (i) the rising importance of trade and cooperation with China; (ii) the consideration of the Euro as a potential anchor currency and a vehicle for trade with the Eurozone; and (iii) the importance of Nigeria as the largest country of the group and the main supplier of oil, we investigate the relative importance of these three major players in having their business cycles linked with the group. In addition, we investigate the underlying determinants of the business cycles synchronicity among the WAMZ countries on a pairwise basis. Results show a clear dominance of China's business cycle synchronicity with the WAMZ over Europe's and Nigeria's. Trade integration emerges as the key underlying factor of the common cycle observed.
Author : Johannes Kabderian Dreyer
Publisher : Springer Nature
ISBN 13 : 3030465152
Total Pages : 129 pages
Book Rating : 4.0/5 (34 download)
Download or read book Optimal Currency Areas and the Euro, Volume I written by Johannes Kabderian Dreyer and published by Springer Nature. This book was released on 2020-06-12 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses business cycles synchronization in the Euro Area (EA), one of the 3 criteria that define Optimal Currency Areas (OCAs). Even before its launch, economists questioned whether the EA has what it takes to become an OCA. The onset of the sovereign debt crisis in 2010 confirmed the challenges relating to its construction. But did the EA change over time, and what key drivers may be necessary in the future to strengthen the common currency?
Author : Alexandra Ferreira-Lopes
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Business Cycles, Core and Periphery in Monetary Unions written by Alexandra Ferreira-Lopes and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Jeffrey R. Franks
Publisher : International Monetary Fund
ISBN 13 : 1484338499
Total Pages : 47 pages
Book Rating : 4.4/5 (843 download)
Download or read book Economic Convergence in the Euro Area: Coming Together or Drifting Apart? written by Mr.Jeffrey R. Franks and published by International Monetary Fund. This book was released on 2018-01-23 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine economic convergence among euro area countries on multiple dimensions. While there was nominal convergence of inflation and interest rates, real convergence of per capita income levels has not occurred among the original euro area members since the advent of the common currency. Income convergence stagnated in the early years of the common currency and has reversed in the wake of the global economic crisis. New euro area members, in contrast, have seen real income convergence. Business cycles became more synchronized, but the amplitude of those cycles diverged. Financial cycles showed a similar pattern: sychronizing more over time, but with divergent amplitudes. Income convergence requires reforms boosting productivity growth in lagging countries, while cyclical and financial convergence can be enhanced by measures to improve national and euro area fiscal policies, together with steps to deepen the single market.
Author : Silvia Palasca
Publisher : GRIN Verlag
ISBN 13 : 3656443033
Total Pages : 15 pages
Book Rating : 4.6/5 (564 download)
Download or read book Business Cycles Syncronaziation in Europe written by Silvia Palasca and published by GRIN Verlag. This book was released on 2013-06-05 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2013 in the subject Economics - Monetary theory and policy, Alexandru Ioan Cuza University of Iasi, language: English, abstract: The European Union sets the premises for the appearance of a new phenomenon in the global economic setting: the synchronization of the national business cycles. The aim of this article is to statistically prove the existence of a Euro are business cycle through the study of a classic indicator- the annual change of the GDP and also through the use of foreign trade indicators-the annual changes in exports in imports. Also, it is important, at the end, to choose the best of these indicators or a combination thereof to use as a benchmark for further studies. The empiric study is useful to classify the European countries in clusters according to synchronization, a first step in adopting common policies.
Author : Paul J. Zak
Publisher : Edward Elgar Publishing
ISBN 13 : 9781782543657
Total Pages : 168 pages
Book Rating : 4.5/5 (436 download)
Download or read book Currency Crises, Monetary Union and the Conduct of Monetary Policy written by Paul J. Zak and published by Edward Elgar Publishing. This book was released on 1999-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currency Crises, Monetary Union and the Conduct of Monetary Policy is a book of debate and analysis by some of the world's most eminent economists on 'unsolved' problems relating to the international monetary system, economic growth and monetary policy. This volume will be of interest to specialists in international monetary economics, and to undergraduate and graduate students, and members of the general public who seek a clearer understanding of current economic issues and solutions to economic problems.
Author : Solomos Solomou
Publisher : Manchester University Press
ISBN 13 : 9780719041518
Total Pages : 150 pages
Book Rating : 4.0/5 (415 download)
Download or read book Economic Cycles written by Solomos Solomou and published by Manchester University Press. This book was released on 1998 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ups and downs of booms and slumps, often referred to as business cycles, are features of all modern economies. This book considers business cycles over three epochs 1870-1913, 1919-1938 and the post-World War II period. It provides an analysis of the key macroeconomic questions relating to economic fluctuations. Why are the ups and down more volatile in some epochs than others? Why are some business cycle shocks more persistent in their effects? Is there an international business cycle? Can present business cycle features predict future patterns? What impact will institutional changes, such as EMU have on future fluctuations?
Author :
Publisher :
ISBN 13 :
Total Pages : 141 pages
Book Rating : 4.:/5 (54 download)
Download or read book Business Cycle Research in the European Economic and Monetary Union written by and published by . This book was released on 2001 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt:
