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Author : Thomas Sedgwick Coleman
Publisher :
ISBN 13 :
Total Pages : 366 pages
Book Rating : 4.:/5 (138 download)
Download or read book Essays on Aggregate Labor Market Business Cycle Fluctuations written by Thomas Sedgwick Coleman and published by . This book was released on 1984 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : M. Kalecki
Publisher : Routledge
ISBN 13 : 113651709X
Total Pages : 96 pages
Book Rating : 4.1/5 (365 download)
Download or read book Essays in the Theory of Economic Fluctuations written by M. Kalecki and published by Routledge. This book was released on 2013-10-08 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: These essays, though formally independent, nevertheless constitute a whole, each one preparing the way for the succeeding chapter.
Author : Julio Andres Blanco
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book Essays on business cycle fluctuations written by Julio Andres Blanco and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Nopphawan Photphisutthiphong
Publisher :
ISBN 13 :
Total Pages : 268 pages
Book Rating : 4.:/5 (761 download)
Download or read book Essays on Business Cycle Fluctuations written by Nopphawan Photphisutthiphong and published by . This book was released on 2009 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kyungsoo Cha
Publisher :
ISBN 13 : 9780549393498
Total Pages : 192 pages
Book Rating : 4.3/5 (934 download)
Download or read book Two Essays on the Sources of Business Cycle Fluctuations written by Kyungsoo Cha and published by . This book was released on 2007 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Re-examining contributions of the 1930s U.S. financial crisis to the Great Depression. This paper tries to resolve the litmus test of macroeconomic theories, the Great Depression. Since the work of Friedman and Schwartz (1963), the contributions of the 1930s financial crisis to the Great Depression have been mainly interpreted via the money-output link with sticky nominal wages within the monetary paradigm. However, some macroeconomists recently argue the plausibility of the monetary explanation and devaluate the effects of the financial crisis. Thus, this paper provides empirical evidence on the plausibility of the monetary explanation and re-examines the contributions of the financial crisis shock to the Great Depression. Results show that it seems difficult to support the money-output link with sticky nominal wages. Nevertheless, the data displays that the financial crisis can account for large fractions of the total variability of aggregate variables during the Great Depression, implying the plausibility of the other channel which emphasizes a reduction in real intermediated investment through the ineffectiveness of financial intermediaries.
Author : Philip A Klein
Publisher : Routledge
ISBN 13 : 1351695568
Total Pages : 440 pages
Book Rating : 4.3/5 (516 download)
Download or read book Analyzing Modern Business Cycles: Essays Honoring written by Philip A Klein and published by Routledge. This book was released on 2017-10-03 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 1990.
Author : Oscar Pavlov
Publisher :
ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.:/5 (957 download)
Download or read book Essays on Expectations-driven Business Cycles written by Oscar Pavlov and published by . This book was released on 2013 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis addresses the role of imperfect competition in business cycles driven by expectations and beliefs about the future state of the economy. It consists of three self-contained papers. The first paper examines the roles of composition of aggregate demand and taste for variety in a real business cycle model with endogenous entries and exits of monopolistically competitive firms. It finds that taste for variety can alone make the economy susceptible to endogenous (sunspot driven) business cycles. Importantly, in light of recent research suggesting that aggregate markups in the U.S. are procyclical, sunspot equilibria emerge with procyclical markups that are within empirically plausible ranges. The second paper considers aggregate markup variations in business cycles driven by news about future total factor productivity. It shows that the addition of endogenous countercyclical markups and investment adjustment costs allows the standard one-sector real business cycle model to generate empirically supported expectations driven fluctuations. The simulated model reproduces the regular features of U.S. aggregate fluctuations. The third paper investigates the role of product variety effects and variable markups in expectations-driven business cycles. It demonstrates that taste for variety and investment adjustment costs allow the otherwise canonical real business cycle model to display quantitatively realistic fluctuations in response to news about future total factor productivity. Moreover, the interaction between price-cost decisions and firm entry and exit allows such business cycles to occur for empirically plausible levels of procyclical markups and variety effects.
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 : Michal Kalecki
Publisher :
ISBN 13 : 9781583677254
Total Pages : 180 pages
Book Rating : 4.6/5 (772 download)
Download or read book Theory of Economic Dynamics written by Michal Kalecki and published by . This book was released on 2009 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jared D. Reber
Publisher :
ISBN 13 : 9781303862236
Total Pages : 252 pages
Book Rating : 4.8/5 (622 download)
Download or read book Essays on the Changing Nature of Business Cycle Fluctuations written by Jared D. Reber and published by . This book was released on 2014 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The behavior of several important macroeconomic variables has changed dramatically over the past several business cycles in the U.S. These changes, which began around the mid-1980s, have been viewed as somewhat puzzling given the stark contrast they exhibit to earlier post-war data. The movement of output and employment has historically been highly correlated throughout the different phases of the business cycle. However, this changed with the economic recovery of 1991. Since then, periods of output recovery have been accompanied by periods of prolonged job loss. These periods have come to be known as "jobless recoveries". Several competing explanations for this phenomenon have come forth, however, all face similar limitations. To date, there has been no method presented to quantify a period of jobless recovery. This makes comparisons across business cycles difficult and also prevents formal statistical testing of the proposed explanations. This study creates a meaningful measure of a jobless recovery which can be used to test these hypotheses. Furthermore, jobless recoveries have only been studied using the national aggregate data. This neglects potentially valuable information which may exist in the cross-section between states. Using the jobless recovery measure, a state-level empirical analysis is conducted to determine which, if any, of the existing explanations of jobless recoveries are supported by the data. It has also been noted that the growth of output has experienced dramatic changes over roughly the same period. The broad decline in the volatility of output since the mid-1980s, named the Great Moderation, has become the subject of a large literature. However, the literature has examined mostly data at the national-level. Using a proxy of quarterly output, this paper provides state-level evidence of the Great Moderation and shows that large, cross-state differences exist in the degree to which each state experiences the Great Moderation. Explanations for why the Great Moderation exists in the national data are examined to see how well they explain the observed cross-state differences in the evolution of output volatility.
Author : F.A. Hayek
Publisher : University of Chicago Press
ISBN 13 : 0226321274
Total Pages : 209 pages
Book Rating : 4.2/5 (263 download)
Download or read book Money, Capital, & Fluctuations written by F.A. Hayek and published by University of Chicago Press. This book was released on 2018-12-22 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: PREFACE AND ACKNOWLEDGMENTS EDITOR'S INTRODUCTION INTRODUCTION 1. THE MONETARY POLICY OF THE UNITED STATES AFTER THE RECOVERY FROM THE 1920 CRISIS (1925) 2. SOME REMARKS ON THE PROBLEM OF IMPUTATION (1926) 3. ON THE PROBLEM OF THE THEORY OF INTEREST (1927) 4. INTERTEMPORAL PRICE EQUILIBRIUM AND MOVEMENTS IN THE VALUE OF MONEY (1928) 5. THE FATE OF THE GOLD STANDARD (1932) 6. CAPITAL CONSUMPTION (1932) 7. ON 'NEUTRAL MONEY' (1933) 8. TECHNICAL PROGRESS AND EXCESS CAPACITY (1936) Two reviews MARGINAL UTILITY AND ECONOMIC CALCULATION (1925) THE EXCHANGE VALUE OF MONEY (1929) NAME INDEX
Author : Simon Smith Kuznets
Publisher : Greenwood
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.E/5 ( download)
Download or read book Economic Change written by Simon Smith Kuznets and published by Greenwood. This book was released on 1983 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Francesco Franco
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (561 download)
Download or read book Essays on the Business Cycle written by Francesco Franco and published by . This book was released on 2004 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: (Cont.) The second essay takes the analysis to general equilibrium and suggests that changes in the money supply have become a less powerful instrument in stimulating aggregate investment relative to aggregate consumption. The third essay:is not directly related to depreciation but is an empirical investigation on the sources of economic fluctuations. Again the theme does not appear to be ... fresh. Still the academic consensus is far from being unanimous on such an old question. The approach taken in this last essay follows from a note by Olivier Blanchard in his introductory Macroeconomics class notes. It consists in identifying the sources of fluctuations at a disaggregated level and investigate which of the different sources generate comovements that sum up to aggregate fluctuations. The main results are the shocks that aggregate into the aggregate source of fluctuations are neither technological nor restructuring shocks.
Author : F. A. Hayek
Publisher : University of Chicago Press
ISBN 13 : 0226320464
Total Pages : 303 pages
Book Rating : 4.2/5 (263 download)
Download or read book Business Cycles, Part I written by F. A. Hayek and published by University of Chicago Press. This book was released on 2012-01-27 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The two Business Cycles volumes bring together” the Nobel Laureate economist’s “most substantial contributions to technical economics” (Roger W. Garrison, Auburn University). In the years following its publication, F. A. Hayek’s pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over the monetary origins of the current economic and financial crisis, economists are once again paying heed to Hayek’s thoughts on the repercussions of excessive central bank interventions. The latest editions in the University of Chicago Press’s ongoing series The Collected Works of F. A. Hayek, these volumes bring together Hayek’s work on what causes periods of boom and bust in the economy. Moving away from the classical emphasis on equilibrium, Hayek demonstrates that business cycles are generated by the adaptation of the structure of production to changes in relative demand. Thus, when central banks artificially lower interest rates, the result is a misallocation of capital and the creation of asset bubbles and additional instability. Business Cycles, Part I contains Hayek’s two major monographs on the topic: Monetary Theory and the Trade Cycle and Prices and Production. Reproducing the text of the original 1933 translation of the former, this edition also draws on the original German, as well as more recent translations. For Prices and Production, a variorum edition is presented, incorporating the 1931 first edition and its 1935 revision. Business Cycles, Part II assembles a series of Hayek’s shorter papers on the topic. The two volumes of Business Cycles also include extensive introductions by Hansjoerg Klausinger, providing background on the evolution of Hayek’s thought.
Author : Robert M. Solow
Publisher : MIT Press
ISBN 13 : 9780262041102
Total Pages : 262 pages
Book Rating : 4.0/5 (411 download)
Download or read book Growth, Productivity, Unemployment written by Robert M. Solow and published by MIT Press. This book was released on 1990 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this book extend and elaborate on many of the important ideas Solow has either originated or developed in the past three decades.
Author : Michał Kalecki
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Essays in the Theory of Economic Fluctuations written by Michał Kalecki and published by . This book was released on 1980 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yankun Wang
Publisher :
ISBN 13 :
Total Pages : 79 pages
Book Rating : 4.:/5 (826 download)
Download or read book Essays on Financial Frictions and Business Cycles written by Yankun Wang and published by . This book was released on 2011 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation I explore the relationship between the frictions in a country's financial market and its business cycle movements. It is well known that the financial market is far from perfect, and shocks originating in such market could have sizable impact on the real economy. On the other hand, evolvement in the financial market could also be a reflection of the real economy. For example, economic downturn often leads to high borrowing cost for a country in the international financial market. The essays in this dissertation present an analysis of this two-way relationship, both qualitatively and quantitatively. The first essay studies the link between country credit spreads - defined as the difference between a home country's cost of borrowing from the international credit market and the world riskless interest rate - and the domestic business cycle fluctuations. By combining both empirical and theoretical analysis, this essay shows that deteriorating credit markets are both reflections of a declining economy and a major factor that depresses economic activity. This study uses a quarterly dataset over the period 1972Q1 to 2010Q1 for South Korea. The second essay probes the importance of financial shocks in creating business cycles in the United States. It starts from a theoretical dynamic stochastic generating equilibrium model, which identifies positive financial shocks as those that drag down the corporate net worth while raising domestic output. An empirical analysis later uses this property to identify financial shocks and study their importance in creating business cycle movement for the U.S. in the past fifty years. This property is in stark contrast to technological shocks, which raise both corporate net worth and total output.
