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Author : G. D. Lee
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (597 download)
Download or read book How Money Growth Can Cause Persistent Unemployment written by G. D. Lee and published by . This book was released on 1988 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sangyup Choi
Publisher : International Monetary Fund
ISBN 13 : 1498356303
Total Pages : 26 pages
Book Rating : 4.4/5 (983 download)
Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.
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 : Lloyd J. Dumas
Publisher : Univ of California Press
ISBN 13 : 9780520061699
Total Pages : 316 pages
Book Rating : 4.0/5 (616 download)
Download or read book The Overburdened Economy written by Lloyd J. Dumas and published by Univ of California Press. This book was released on 1986 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that the American economy has continued to decine since the late 1960s and includes ideas for America's revitalization.
Author : Michael D. Bordo
Publisher : University of Chicago Press
ISBN 13 : 0226066959
Total Pages : 545 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author : Edward J. Amadeo
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (267 download)
Download or read book Causes for Persistent Unemployment and Fluctuations in Monetary Economics written by Edward J. Amadeo and published by . This book was released on 1992 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Maynard Keynes
Publisher : Springer
ISBN 13 : 3319703447
Total Pages : 430 pages
Book Rating : 4.3/5 (197 download)
Download or read book The General Theory of Employment, Interest, and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author :
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (121 download)
Download or read book Foreign Exchange Value of the Dollar written by and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475566980
Total Pages : 60 pages
Book Rating : 4.4/5 (755 download)
Download or read book Finance & Development, September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author : United States. Congressional Budget Office
Publisher :
ISBN 13 :
Total Pages : 98 pages
Book Rating : 4.3/5 (129 download)
Download or read book Inflation and Unemployment written by United States. Congressional Budget Office and published by . This book was released on 1975 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Maynard Keynes
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (17 download)
Download or read book The General Theory of Employment, Interest and Money written by John Maynard Keynes and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Klaus-Peter Hellwig
Publisher : International Monetary Fund
ISBN 13 : 1513572687
Total Pages : 35 pages
Book Rating : 4.5/5 (135 download)
Download or read book Supply and Demand Effects of Unemployment Insurance Benefit Extensions: Evidence from U.S. Counties written by Klaus-Peter Hellwig and published by International Monetary Fund. This book was released on 2021-03-12 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: I use three decades of county-level data to estimate the effects of federal unemployment benefit extensions on economic activity. To overcome the reverse causality coming from the fact that benefit extensions are a function of state unemployment rates, I only use the within-state variation in outcomes to identify treatment effects. Identification rests on a differences-in-differences approach which exploits heterogeneity in county exposure to policy changes. To distinguish demand and supply-side channels, I estimate the model separately for tradable and non-tradable sectors. Finally I use benefit extensions as an instrument to estimate local fiscal multipliers of unemployment benefit transfers. I find (i) that the overall impact of benefit extensions on activity is positive, pointing to strong demand effects; (ii) that, even in tradable sectors, there are no negative supply-side effects from work disincentives; and (iii) a fiscal multiplier estimate of 1.92, similar to estimates in the literature for other types of spending.
Author : World Institute for Development Economics Research
Publisher : MIT Press
ISBN 13 : 9780262022798
Total Pages : 452 pages
Book Rating : 4.0/5 (227 download)
Download or read book Inflation Stabilization written by World Institute for Development Economics Research and published by MIT Press. This book was released on 1988 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rampant inflation is a major economic problem in many of the less developed countries; two out of three attempts to stabilize these economies fail. Inflation Stabilization provides a valuable description and a critical analysis of the disinflation programs introduced in Argentina, Bolivia, Brazil, and Israel in 1985-86, and discusses the possibility of such a program in Mexico. It documents the initial steps in stabilization as well as the reasons for failure.As architects of the programs, several of the authors are in key positions to assess which aspects were critical in getting the programs accepted and where to look for difficulties and failures. In Israel, inflation was halted without recession. The challenge to policy makers today is in shifting from stabilization to the revival of sustained growth. This experience is described fully by Michael Bruno and Sylvia Piterman, who examine the critical issue of exchange rates, and by Alex Cukierman, who uses modeling to analyze the interaction of money, wages, prices, and activity under rational expectations that take the government's policy objectives into account.Endemic inflation and a sudden increase in external debt burden Argentina's economy, raising the wider issues of high inflation economies and stabilization that are discussed in the chapter by José Luis Machinea and that by Guido Di Tella and Alfredo Canavese.Eduardo Modiano and Mario Simonsen take up issues of wages in Brazil, particularly the problem of finding an equitable way to deal with a wage freeze; Simonsen develops an ambitious game theoretic rationalization of incomes policy as a coordinating device for imperfectly competitive economies. Bolivia did reach hyperinflation (price increases of more than 50 percent each month) before stabilizing. Juan Antonio Morales shows how stabilizing the exchange rate, in an economy where all pricing was already geared to the dollar, achieved stabilization without a wage or price freeze. And Francisco Gil Diaz asks whether an incomes-policy based program could work to control ever increasing inflation in Mexico.
Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815283
Total Pages : 475 pages
Book Rating : 4.4/5 (648 download)
Download or read book A Decade after the Global Recession written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-19 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: This year marks the tenth anniversary of the 2009 global recession. Most emerging market and developing economies weathered the global recession relatively well, in part by using the sizable fiscal and monetary policy ammunition accumulated during prior years of strong growth. However, their growth prospects have weakened since then, and many now have less policy space. This study provides the first comprehensive stocktaking of the past decade from the perspective of emerging market and developing economies. Many of these economies have now become more vulnerable to economic shocks. The study discusses lessons from the global recession and policy options for these economies to strengthen growth and prepare for the possibility of another global downturn.
Author : Ms.Era Dabla-Norris
Publisher : International Monetary Fund
ISBN 13 : 1513547437
Total Pages : 39 pages
Book Rating : 4.5/5 (135 download)
Download or read book Causes and Consequences of Income Inequality written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2015-06-15 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
Author : Stephen Broadberry
Publisher : Cambridge University Press
ISBN 13 : 1139448358
Total Pages : 363 pages
Book Rating : 4.1/5 (394 download)
Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
Author : United States. Bureau of Labor Statistics
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.3/5 (121 download)
Download or read book How the Government Measures Unemployment written by United States. Bureau of Labor Statistics and published by . This book was released on 1987 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
