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Cyclical Behavior Of Prices And Quantities In The Automobile Market
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Book Synopsis Cyclical Behavior of Prices and Quantities in the Automobile Market by : Olivier J. Blanchard
Download or read book Cyclical Behavior of Prices and Quantities in the Automobile Market written by Olivier J. Blanchard and published by . This book was released on 1984 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper has a simple goal, that of understanding the joint behaviorof prices and quantities in a particular market. More precisely, it examines whether we can find decision problems for suppliers and buyers, together with a market equilibrium structure, which are consistent with the observed price and quantity time series. Because of the relative homogeneity of the product, of the size of the market, end of the quality of the data, the market chosen is the automobile market. The first conclusion we reach is that this goal is difficult to achieve. The behavior of prices appears inconsistent with simple -- competitive, monopolistically competitive or monopolistic -- market structures. Prices appear, in a well defined sense, to be too "sticky". We then consider potentiail explanations and extensions. None appears completely satisfactory. In particular, the introduction of costs of changing prices does not seem able to explain the joint behavior of prices and quantities
Book Synopsis The Cyclical Behavior of Prices by : Geoffrey Hoyt Moore
Download or read book The Cyclical Behavior of Prices written by Geoffrey Hoyt Moore and published by . This book was released on 1971 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Cyclical Behavior of Industrial Labor Markets by : Ben Bernanke
Download or read book The Cyclical Behavior of Industrial Labor Markets written by Ben Bernanke and published by . This book was released on 1984 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the cyclical behavior of a number of industrial labor markets of the pre-war (1923-1939) and post-war (1954-1982) eras. In the spirit of Burns and Mitchell we do not test a specific structural model of the labor market but instead concentrate on describing the qualitative features of the (monthly, industry-level) data.The two principal questions we ask are: First, how is labor input (as measured by the number of workers, the hours of work, and the intensity of utilization) varied over the cycle ? Second, what is the cyclical behaviorof labor compensation (as measured by real wages, product wages, and real weekly earnings) ? We study these questions in both the frequency domain and the time domain. Many of our findings simply reinforce, or perhaps refine, existing perceptions of cyclical labor market behavior. However, we do find some interesting differences between the pre-war and the post-war periods in ther elative use of layoffs and short hours in downturns, and in the cyclical behavior of the real wage.
Book Synopsis Inventory, Business Cycles and Monetary Transmission by : Riccardo Fiorito
Download or read book Inventory, Business Cycles and Monetary Transmission written by Riccardo Fiorito and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory changes constitute in all countries a small fraction of the Gross National Product but also a major source or an indicator of cyclical fluctuations. In this volume both possible ways of propagation are investigated by examining in the first part what macroeconomists have learned and still have to learn about inventories in the light of statistical definitions and problems. In the second part, the role of monetary shocks in propagating business cycles is considered through liquidity effects and in relation to inventory adjustment. A possible linkage between inventory and labor market is shown. Finally, new evidence and theoretical insights are provided on the linear-quadratic inventory model and its ability to discriminate econometrically among competing firm behavior.
Book Synopsis The Aggregate Implications of Machine Replacement by : Russell W. Cooper
Download or read book The Aggregate Implications of Machine Replacement written by Russell W. Cooper and published by . This book was released on 1992 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Real Exchange Rate and Prices of Traded Goods in OECD Countries by : Holger Brauer
Download or read book The Real Exchange Rate and Prices of Traded Goods in OECD Countries written by Holger Brauer and published by Springer Science & Business Media. This book was released on 2003 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Report on the American Workforce by :
Download or read book Report on the American Workforce written by and published by . This book was released on 1999 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Macroeconomics by : John B. Taylor
Download or read book Handbook of Macroeconomics written by John B. Taylor and published by Elsevier. This book was released on 1999-12-13 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Part 6: Financial Markets and the Macroeconomy. 19. Asset prices, consumption, and the business cycle (J.Y. Campbell). 20. Human behavior and the efficiency of the financial system (R.J. Shiller). 21. The financial accelerator in a quantitative business cycle framework (B. Bernanke, M. Gertler and S. Gilchrist). Part 7: Monetary and Fiscal Policy. 22. Political economics and macroeconomic policy (T. Persson, G. Tabellini). 23. Issues in the design of monetary policy rules (B.T. McCallum). 24. Inflation stabilization and BOP crises in developing countries (G.A. Calvo, C.A. Vegh). 25. Government debt (D.W. Elmendorf, N.G. Mankiw). 26. Optimal fiscal and monetary policy (V.V. Chari, P.J. Kehoe).
Book Synopsis The C.F.A. Digest by : Institute of Chartered Financial Analysts
Download or read book The C.F.A. Digest written by Institute of Chartered Financial Analysts and published by . This book was released on 1984 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Prices and Quantities by : Arthur M Okun
Download or read book Prices and Quantities written by Arthur M Okun and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the past decade Arthur M. Okun, like many economists, focused attention on finding ways to fight inflation without sacrificing goals of high employment and prosperity. In recent years the economy has been plagued by stagflation—the simultaneous persistence of high inflation and high unemployment. Traditional methods of aggregate demand management that have been reasonably successful in curing either one or the other of these problems have not been effective, and the nation has not been able to contain inflation even in periods of economic slack. It now seems clear that the economists’ traditional model that presumes short-run flexibility in wages and prices no longer holds for most of the industrial world, and hence the response of inflation to shifts in macroeconomic policy is weak. In this volume Okun seeks to explain that loss of responsiveness by analyzing how modern labor and product markets work and how they are structured. A central feature of Okun’s analysis is implicit contract theory, which recognizes that efficiency-maximizing decisions by business firms reflect long-term considerations as well as short-term changes in markets. His interpretation of microeconomic behavior and macroeconomic performance provides a basis for the design of policies to deal with stagflation.
Book Synopsis NBER Publications by : National Bureau of Economic Research
Download or read book NBER Publications written by National Bureau of Economic Research and published by . This book was released on 1921 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Journal of Economic Literature written by and published by . This book was released on 1988 with total page 1246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Estimating the Linear-quadratic Inventory Model by : Jeffrey C. Fuhrer
Download or read book Estimating the Linear-quadratic Inventory Model written by Jeffrey C. Fuhrer and published by . This book was released on 1993 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inventory Fluctuations in the United States Since 1929 by : Alan S. Blinder
Download or read book Inventory Fluctuations in the United States Since 1929 written by Alan S. Blinder and published by . This book was released on 1984 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: It has been known for a long time that inventory fluctuations are of great importance in business cycles. But inventory fluctuations are fundamentally a short-period phenomenon. Consequently, annual data may shed relatively little light on the nature of inventory fluctuations; most of the "action" may be played out within the year. For this reason, economists know precious little about inventory behavior before World War II. This paper seeks to lift this veil of ignorance in two ways. First, we create -- from some admittedly incomplete and imperfect data -- monthly time series on inventory holdings in manufacturing, durable manufacturing, and nondurable manufacturing. To our knowledge, these are the first such series ever made available.(The data are available on request.) Second, we apply to the prewar data certain statistical procedures and models that are in common use with postwar data. In this way, we can address the central issue of the paper: Has inventory behavior changed? While we do not wish to overstate the case, we were struck more by the similarities in inventory behavior between the prewar and postwar periods than by the differences. But the relevant stylized facts and regressing are displayed below, and each reader can make up his or her own mind
Book Synopsis What Happens During Business Cycles by : Wesley Clair Mitchell
Download or read book What Happens During Business Cycles written by Wesley Clair Mitchell and published by . This book was released on 1951 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inventories written by Valerie A. Ramey and published by . This book was released on 1997 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review and interpret recent work on inventories, emphasizing empirical and business cycle aspects. We begin by documenting two empirical regularities about inventories. The first is the well-known one that inventories move procyclically. The second is that inventory movements are quite persistent, even conditional on sales. To consider explanations for the two facts, we present a linear-quadratic model. The model can rationalize the two facts in many ways, but two stylized explanations are simple enough and have support support from a number of papers. Both assume that there are persistent shocks to demand for the good in question, and that marginal production cost slopes up. The first explanation assumes as well that there are highly persistent shocks to the cost of production. The second assumes that there are strong costs of adjusting production and a strong accelerator motive. Research to to date, however, has not reached a consensus on whether one of these two, or some third, alternative provides a satisfactory explanation of inventory behavior. We suggest several directions for future research that promise to improve our understanding of inventory behavior and thus of business cycles.
Book Synopsis The Sources of Fluctuations in Aggregate Inventories and GNP by : Kenneth David West
Download or read book The Sources of Fluctuations in Aggregate Inventories and GNP written by Kenneth David West and published by . This book was released on 1989 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: A simple real linear-quadratic inventory model is used to determine how cost and demand shocks interacted to cause fluctuations in aggregate GNP and inventories in the U.S., 1947-1986. Cost shocks appear to be the predominant source of fluctuations in inventories, and are largely responsible for the well known fact that GNP is more variable than final sales. Cost and demand shocks are of roughly equal importance for GNP. These estimates are, however, imprecise. With a different, but plausible, value for a certain target inventory-sales ratio, cost shocks are less important than demand shocks for GNP fluctuations.
