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Author : Kunhong Kim
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (318 download)
Download or read book Key Features of New Zealand Business Cycles written by Kunhong Kim and published by . This book was released on 1992 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kunhong Kim
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)
Download or read book Dating New Zealand Business Cycles written by Kunhong Kim and published by . This book was released on 1994 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : C. John McDermott
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The New Zealand Business Cycle written by C. John McDermott and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current economic expansion is one of the more enduring in New Zealand's post-war period. But is this a change from past behaviour? We examine New Zealand's post-war business cycles for the sample period 1946 to 2005, using a newly developed 60-year quarterly time series for real GDP. The non-parametric Bry and Boschan (1971) algorithm is used to derive Classical business cycle turning points, and to underpin the establishment of key cycle characteristics. The latter include cycle asymmetries, volatility, diversity and degree of duration dependence. Markov-switching models estimated by Gibbs-sampling methods (Kim and Nelson, 1999), are then used to derive mean growth rate and volatility regimes, and to draw implications. Results point to a return to a more rhythmic pattern of long expansions and short contractions, after that pattern was interrupted following the oil shocks of the 1970s and New Zealand's reforms of the mid- to late-1980s and early 1990s. More rhythmic patterns should not be mistaken for a predetermined pattern, as duration test results show that cycle expansion paths do not age. This, together with the observation that rates of growth are not dissimilar across the more sustained expansion phases, implies that in order to enhance New Zealand's prosperity, policies are required that extend business cycle expansions without allowing the excesses that undermine those expansions to build up.
Author : Hall, Viv
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (129 download)
Download or read book Regional Business Cycles in New Zealand written by Hall, Viv and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use National Bank of New Zealand Regional Economic Activity data, to identify and characterise classical business cycle turning points, for New Zealand's 14 regions and aggregate New Zealand activity. Using Concordance statistic measures, logistic model and GMM estimation methods, meaningful regional business cycles have been identified and a number of significant associations established. All regions exhibit cyclical asymmetry for both durations and amplitudes, and synchronisations between aggregate NZ activity and each region are contemporaneous. The regional cycles rarely die of old age but are terminated by particular events. The regions most highly synchronised with the NZ activity cycle are Auckland, Canterbury, and Nelson-Marlborough; those least so are Gisborne and Southland. Noticeably strong co-movements are evident for certain regions. Geographical proximity matters, and unusually dry conditions can be associated with cyclical downturns in certain regions. There is no discernable evidence of association with net immigration movements, and no significant evidence of regional cycle movements being associated with real national house price cycles. The agriculture-based nature of the New Zealand economy is highlighted by the strong influence of external economic shocks on rural economic performance. In particular, there is considerable evidence of certain regional cycles being associated with movements in New Zealand's aggregate terms of trade, real prices of milksolids, real dairy land prices and total rural land prices.
Author : G.M. Grossman
Publisher : Elsevier
ISBN 13 : 0080933459
Total Pages : 896 pages
Book Rating : 4.0/5 (89 download)
Download or read book Handbook of International Economics written by G.M. Grossman and published by Elsevier. This book was released on 1997-10-24 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of International Economics
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 : Ronald Winthrop Jones
Publisher : Elsevier
ISBN 13 : 0444828648
Total Pages : 896 pages
Book Rating : 4.4/5 (448 download)
Download or read book Handbook of International Economics written by Ronald Winthrop Jones and published by Elsevier. This book was released on 1984 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior."--Publisher's information
Author : Bob Buckle
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Dating New Zealand Business Cycles written by Bob Buckle and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dating the turning points and durations of business cycles has long been associated with NBER-type reference cycle indexes. More recently, such work has become additionally important for evaluating modern theoretical business cycle models and for analysing the time-varying characteristics of cycles. This paper applies the transparent, quick-to-compute Bry and Boschan business cycle dating procedure to four New Zealand real GDP series. It compares the resulting turning points with those previously identified using NBER-type cycle identification techniques, and with those obtained from three relatively mechanistic “deviations-from-trend” methods. It provides some empirical benchmark turning point and cycle duration characteristics and, as a prelude to further theoretical and empirical work, compares these with results obtained from a number of potentially relevant AR(1) and I(1) statistical processes.
Author : Eric Haywood
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.3/5 ( download)
Download or read book The Dating of Post-war Business Cycles in New Zealand, 1946-70 written by Eric Haywood and published by . This book was released on 1972 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Wayne St. Clair
Publisher :
ISBN 13 :
Total Pages : 226 pages
Book Rating : 4.:/5 (154 download)
Download or read book An Analysis of the Open Economy Factors of New Zealand Business Cycles written by Robert Wayne St. Clair and published by . This book was released on 1995 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 61 pages
Book Rating : 4.:/5 (156 download)
Download or read book Stylised Facts about New Zealand Business Cycles written by and published by . This book was released on 2007 with total page 61 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 : Colin Campbell
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (136 download)
Download or read book The International Origins of New Zealand's Business Cycle written by Colin Campbell and published by . This book was released on 1979 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Tessaleno C. Devezas
Publisher : IOS Press
ISBN 13 : 1586035886
Total Pages : 352 pages
Book Rating : 4.5/5 (86 download)
Download or read book Kondratieff Waves, Warfare and World Security written by Tessaleno C. Devezas and published by IOS Press. This book was released on 2006 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considerable progress has been made in understanding the underlying mechanisms driving the long-wave behaviour of the world socioeconomic development. A controversial mechanism discussed is the close relationship between K-waves and the outbreak of majors wars.
Author : Viv B. Hall
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Pacific Rim Business Cycle Analysis written by Viv B. Hall and published by . This book was released on 1996 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Glasner
Publisher : Routledge
ISBN 13 : 1136545271
Total Pages : 800 pages
Book Rating : 4.1/5 (365 download)
Download or read book Business Cycles and Depressions written by David Glasner and published by Routledge. This book was released on 2013-12-16 with total page 800 pages. Available in PDF, EPUB and Kindle. Book excerpt: Experts define, review, and evaluate economic fluctuations Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 323 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The work of more than 200 experts, including many of the leading researchers in the field, the articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. Individual entries explore banking panics, the cobweb cycle, consumer durables, the depression of 1937-1938, Otto Eckstein, Friedrich Engels, experimental price bubbles, forced savings, lass-Steagall Act, Friedrich hagen, qualitative indicators, use of macro-econometric models, monetary neutrality, Phillips Curve, Paul Samuelson, Say's law, supply-side recessions, James Tokin, trend and random wages, Thorstein Veblen, worker-job turnover, and more.
Author : Marianne Baxter
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Trade and Business Cycles written by Marianne Baxter and published by . This book was released on 1995 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Virtually all economies experience recurrent fluctuations in economic activity that persist for periods of several quarters to several years. Further, there is a definite tendency for the business cycles of developed countries to move together--there is a world component to business cycles. This paper argues that capital accumulation and international capital flows are central to understanding world trade and business cycles. In particular, fluctuations in net exports and the current account are shown to be dominated by trade in capital goods. The paper develops a two country model of international trade within which capital accumulation and international investment flows play a central role. We explore the channels by which technology shocks and fiscal shocks are transmitted to the domestic and foreign economies, and discuss the extent to which these results are sensitive to individuals' opportunities for international trade in financial assets. Overall, we find that the models capture many of the salient features of international business cycles. However, it has proven consistently difficult to generate sufficient comovement across countries in labor input and investment. The paper concludes with a discussion of fruitful directions for future research.
