Short Run Pain Long Run Gain

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Short-Run Pain, Long-Run Gain

Author : Mr.Sergio L. Schmukler
Publisher : International Monetary Fund
ISBN 13 : 1451845286
Total Pages : 61 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Short-Run Pain, Long-Run Gain by : Mr.Sergio L. Schmukler

Download or read book Short-Run Pain, Long-Run Gain written by Mr.Sergio L. Schmukler and published by International Monetary Fund. This book was released on 2003-02-01 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization.

Short-run Pain, Long-term Gain

Author : Graciela Laura Kaminsky
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Short-run Pain, Long-term Gain by : Graciela Laura Kaminsky

Download or read book Short-run Pain, Long-term Gain written by Graciela Laura Kaminsky and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Short-Run Pain, Long-Run Gain

Author : Graciela Kaminsky
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Short-Run Pain, Long-Run Gain by : Graciela Kaminsky

Download or read book Short-Run Pain, Long-Run Gain written by Graciela Kaminsky and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The views on financial liberalization are quite conflictive. Many argue that it triggers financial bubbles and crises. Others claim that financial liberalization allows markets to function properly and capital to move to its most profitable destination. The empirical evidence on these effects is not robust. This paper constructs a new comprehensive chronology of financial liberalization and shows that a key reason for the inconclusive evidence is that the effects of liberalization are time-varying. Financial liberalization is followed by large booms and busts only in the short run. In the long run institutions improve and financial markets tend to stabilize.

Short-Run Pain, Long-Run Gain

Author : Graciela Laura Kaminsky
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (16 download)

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Book Synopsis Short-Run Pain, Long-Run Gain by : Graciela Laura Kaminsky

Download or read book Short-Run Pain, Long-Run Gain written by Graciela Laura Kaminsky and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Short-Run Pain, Long-Run Gain?

Author : Alexandr Kopytov
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis Short-Run Pain, Long-Run Gain? by : Alexandr Kopytov

Download or read book Short-Run Pain, Long-Run Gain? written by Alexandr Kopytov and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent empirical evidence suggests that job polarization associated with skill-biased technological change accelerated during the Great Recession. We use a standard neoclassical growth framework to analyze how business cycle fluctuations interact with the long-run transition towards a skill-intensive technology. In the model, since adopting the new technology disrupts production, firms prefer to do so in recessions, when profits are low. Similarly, workers also tend to learn new skills during downturns. As a result, recessions are deeper during periods of technological transition, but they also speed up adoption of the new technology. We document evidence for these mechanisms in the data. Our calibrated model is able to match both the long-run downward trend in routine employment and the dramatic impact of the Great Recession. We also show that even in the absence of the Great Recession the routine employment share would have reached the observed level by the year 2012.

Long-term Gain, Short-Term Pain

Author : Marika Santoro
Publisher : International Monetary Fund
ISBN 13 : 151357941X
Total Pages : 35 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Long-term Gain, Short-Term Pain by : Marika Santoro

Download or read book Long-term Gain, Short-Term Pain written by Marika Santoro and published by International Monetary Fund. This book was released on 2015-12-29 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, I study the potential economic impact of the 2015-18 structural reform agenda in Chile, using the IMF dynamic general equilibrium model (GIMF). I find that the agenda has the potential to significantly increase Chile’s long-run GDP, although it may have some negative effects in the short term. Ensuring a smooth transition to a higher productive potential depends on three key dimensions: the credibility of the reforms, their effectiveness in closing structural gaps, and their speed of implementation. Badly designed reforms that remove only a very small fraction of the existing structural gaps, at a slow speed, and with little credibility, can greatly reduce the positive impact of the reform agenda on GDP.

Runner's World Run Less Run Faster

Author : Bill Pierce
Publisher : Rodale Books
ISBN 13 : 0593232240
Total Pages : 354 pages
Book Rating : 4.5/5 (932 download)

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Book Synopsis Runner's World Run Less Run Faster by : Bill Pierce

Download or read book Runner's World Run Less Run Faster written by Bill Pierce and published by Rodale Books. This book was released on 2021-01-19 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finally, runners at all levels can improve their race times while training less, with the revolutionary Furman Institute of Running and Scientific Training (FIRST) program. Hailed by the Wall Street Journal and featured twice in six months in cover stories in Runner's World magazine, FIRST's unique training philosophy makes running easier and more accessible, limits overtraining and burnout, and substantially cuts the risk of injury, while producing faster race times. The key feature is the "3 plus 2" program, which each week consists of: -3 quality runs, including track repeats, the tempo run, and the long run, which are designed to work together to improve endurance, lactate-threshold running pace, and leg speed -2 aerobic cross-training workouts, such as swimming, rowing, or pedaling a stationary bike, which are designed to improve endurance while helping to avoid burnout With detailed training plans for 5K, 10K, half marathon, and marathon, plus tips for goal-setting, rest, recovery, injury rehab and prevention, strength training, and nutrition, this program will change the way runners think about and train for competitive races. Amby Burfoot, Runner's World executive editor and Boston Marathon winner, calls the FIRST training program "the most detailed, well-organized, and scientific training program for runners that I have ever seen."

Hansons Marathon Method

Author : Humphrey Luke
Publisher : VeloPress
ISBN 13 : 1937716228
Total Pages : 211 pages
Book Rating : 4.9/5 (377 download)

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Book Synopsis Hansons Marathon Method by : Humphrey Luke

Download or read book Hansons Marathon Method written by Humphrey Luke and published by VeloPress. This book was released on 2012-11-27 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Hansons Marathon Method, the coaches of the Hansons-Brooks Distance Project reveal the methods they've used to turn their runners into race winners, national champions, and Olympians. Hansons Marathon Method offers a radical overhaul of marathon training that promises to turn any runner into a true marathoner and help experienced marathoners set new personal bests. Hansons Marathon Method does away with mega-long runs and high-mileage weekends--two outdated traditions that make most runners miserable. Instead, runners using the Hansons method will gradually build up to the moderate-high mileage required for marathon success, spreading those miles more sensibly throughout the week. Running easy days mixed with precisely paced speed, strength, and tempo workouts, runners will steel their bodies and minds to run the hardest miles of the marathon. Both Beginner and Advanced training programs feature the unique Hansons 16-mile long run which, as part of the Hansons program, is ideal for preparing the body for the marathon. Humphrey explains how runners should set their goal race pace and shows how to customize the Hansons method to their own needs, like adding extra racing, running more miles, and handling training interruptions. Detailed nutrition and hydration chapters help runners pinpoint their personal energy and hydration needs so they know precisely how much to eat and drink during workouts, race week, race day, and for recovery. The Hansons approach to pacing and nutrition means marathoners will never hit the wall. Hansons Marathon Method lays out the smartest marathon training program available from one of the most accomplished running groups in the nation. Using this innovative approach, runners will mold real marathon muscles, train their body to never hit the wall, and prepare to run their fastest marathon.

Global Politics and EU Trade Policy

Author : Wolfgang Weiß
Publisher : Springer Nature
ISBN 13 : 3030345882
Total Pages : 281 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Global Politics and EU Trade Policy by : Wolfgang Weiß

Download or read book Global Politics and EU Trade Policy written by Wolfgang Weiß and published by Springer Nature. This book was released on 2020-02-24 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how the European Union designs its trade policy to face the most recent challenges and to influence global policy issues. It provides with an interdisciplinary perspective, by combining legal, political, and economic approaches. It studies a broad set of trade instruments that are used by the EU in its trade policy, such as: trade agreements, multilateral initiatives, unilateral trade policies, as well as, internal market tools. Therefore, the contributions to this volume present the EU’s Trade Policy through different lenses providing a complex view of it.

Debates in Monetary Macroeconomics

Author : Steven Pressman
Publisher : Springer Nature
ISBN 13 : 3031112407
Total Pages : 249 pages
Book Rating : 4.0/5 (311 download)

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Book Synopsis Debates in Monetary Macroeconomics by : Steven Pressman

Download or read book Debates in Monetary Macroeconomics written by Steven Pressman and published by Springer Nature. This book was released on 2022-11-30 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume presents the key unresolved debates in monetary macroeconomics, covering the five topics of budget, trade, taxes, exchange rates and monetary policy. For each topic, there are two authors — one arguing for a certain policy and one against. The book takes an approach eschewing mathematics or econometrics, instead presenting arguments in the spirit of political economy - while incorporating the most recent thinking in macroeconomics. This approach, combined with the objective of encouraging debate, makes the book ideal reading for students of monetary macroeconomics, researchers seeking alternative views, and the general public.

The Unemployment Crisis

Author : Brian Kenneth MacLean
Publisher : McGill-Queen's Press - MQUP
ISBN 13 : 9780773514188
Total Pages : 292 pages
Book Rating : 4.5/5 (141 download)

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Book Synopsis The Unemployment Crisis by : Brian Kenneth MacLean

Download or read book The Unemployment Crisis written by Brian Kenneth MacLean and published by McGill-Queen's Press - MQUP. This book was released on 1996 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises 12 papers. Discusses the impact of economic policy and unemployment insurance on unemployment. Includes a case study of unemployment in Ontario (Canada) and among Canadian aboriginal peoples.

FINANCIAL DISINTERMEDIATION

Author : Grace Mingyan Du
Publisher : American Academic Press
ISBN 13 : 1631815776
Total Pages : 239 pages
Book Rating : 4.6/5 (318 download)

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Book Synopsis FINANCIAL DISINTERMEDIATION by : Grace Mingyan Du

Download or read book FINANCIAL DISINTERMEDIATION written by Grace Mingyan Du and published by American Academic Press. This book was released on 2023-01-02 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: With historical and comparative method, this book explores financial disintermediation which besets both the United States and China and extends the thinking up to the evolutional trend of capitalism and socialism. Different from the previous research, this book delves into the first cause which induces financial disintermediation, namely the basic deficiency of capitalism: liquidity crisis, and the countermeasures which various institutional systems have taken for dealing with it. The conclusion reveals that the upheaval was initiated from the founding of financial safety net. During the Great Depression, by adopting financial safety net, the previous evolving track of American financial system was ended, and a new path launched – financial disintermediation. The starting point for China was the setout of “the reform and opening-up”. In the West, financial safety net formulates a dualistic regulatory regime, which spurred financial disintermediation. Severe financial disintermediation has led up to a series of thorny issues, including the resurgence of liquidity crisis, the financialization of the economy, and too-big-to-fail, and debt overhang and widening wealth disparity and so on. In China, the main difference with its western counterpart should be the replacement of asset quality deterioration in financial system to liquidity crisis. The root problem lies in that some matched institutions needed for guaranteeing its positive effects are desperately absent or weak, so it is a must to strengthen them, and steadfastly arrest financial disintermediation simultaneously. For that, both regimes should learn from each other.

Corporate Governance, Organization and the Firm

Author : Mario Morroni
Publisher : Edward Elgar Publishing
ISBN 13 : 1848446128
Total Pages : 257 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Corporate Governance, Organization and the Firm by : Mario Morroni

Download or read book Corporate Governance, Organization and the Firm written by Mario Morroni and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this reputable book Professor Morroni has constructed an insightful framework of three decisive factors for organizational coordination: capabilities, transaction, scale-scope. Based on these, he has knitted a splendid tapestry of theoretical and empirical information. This collection must be a standard for the theory of the firm. Yuji Aruka, Chuo University, Japan Organisations, networks and firms are three of the most dynamic areas of economic research. This timely book synthesises these areas in order to analyse emergent phenomena such as spatial clustering, outsourcing, relational complexity and radical technological innovation. A combination of authoritative literature reviews, novel theoretical developments and interesting case study applications makes this book essential reading for both new and established scholars in the field. Mark Casson, University of Reading, UK In recent years, applied studies have shown widespread, profound and increasing heterogeneity across firms in terms of their strategy, organization arrangement and performance. This book investigates the diversity of business firms, offering a picture of the different organizational settings they adopt in their endeavour to cope with increasing competitive pressure. The book addresses critical theoretical issues surrounding corporate governance, organizational design and cooperative relations among firms. Moreover, it provides new evidence on the various forms of outsourcing that are playing an increasingly important role as a consequence of globalization. The contributions collected in this book stress the emergence of a trend towards a reorganization of production that can enhance the transmission, development and maintenance of knowledge in order to sustain long-run competitive advantage. Providing original and pertinent empirical evidence, this book will attract interest from scholars and postgraduate students studying the economics and organization of the firm. It will also be of value to managers who wish to understand new developments in the organizational settings of business firms with particular reference to corporate governance, organizational design, cooperative relations, outsourcing and de-localization.

The Next Great Globalization

Author : Frederic S. Mishkin
Publisher : Princeton University Press
ISBN 13 : 1400829445
Total Pages : 321 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Next Great Globalization by : Frederic S. Mishkin

Download or read book The Next Great Globalization written by Frederic S. Mishkin and published by Princeton University Press. This book was released on 2009-10-08 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many prominent critics regard the international financial system as the dark side of globalization, threatening disadvantaged nations near and far. But in The Next Great Globalization, eminent economist Frederic Mishkin argues the opposite: that financial globalization today is essential for poor nations to become rich. Mishkin argues that an effectively managed financial globalization promises benefits on the scale of the hugely successful trade and information globalizations of the nineteenth and twentieth centuries. This financial revolution can lift developing nations out of squalor and increase the wealth and stability of emerging and industrialized nations alike. By presenting an unprecedented picture of the potential benefits of financial globalization, and by showing in clear and hard-headed terms how these gains can be realized, Mishkin provides a hopeful vision of the next phase of globalization. Mishkin draws on historical examples to caution that mismanagement of financial globalization, often aided and abetted by rich elites, can wreak havoc in developing countries, but he uses these examples to demonstrate how better policies can help poor nations to open up their economies to the benefits of global investment. According to Mishkin, the international community must provide incentives for developing countries to establish effective property rights, banking regulations, accounting practices, and corporate governance--the institutions necessary to attract and manage global investment. And the West must be a partner in integrating the financial systems of rich and poor countries--to the benefit of both. The Next Great Globalization makes the case that finance will be a driving force in the twenty-first-century economy, and demonstrates how this force can and should be shaped to the benefit of all, especially the disadvantaged nations most in need of growth and prosperity.

Budget Rigidity in Latin America and the Caribbean

Author : Santiago Herrera
Publisher : World Bank Publications
ISBN 13 : 1464815208
Total Pages : 73 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Budget Rigidity in Latin America and the Caribbean by : Santiago Herrera

Download or read book Budget Rigidity in Latin America and the Caribbean written by Santiago Herrera and published by World Bank Publications. This book was released on 2020-04-23 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policy makers in Latin America and the Caribbean (LAC) often complain that poor fiscal performance in their countries is a result of a high degree of spending rigidity. Despite being a common complaint, the issue has remained largely ignored by the literature because of the lack of adequate measures of rigidity that allow cross-country and time series comparability. This report helps close this gap by introducing a new measure of spending rigidities that can be easily applied to multiple countries. It focuses on the categories of spending that are naturally inflexible--wages, pensions, transfers to subnational governments, and debt service--and separates them into two components: structural and nonstructural. The structural component is determined by economic, demographic, and institutional fundamentals. The nonstructural component is determined by short-run transitory factors associated with business and political cycles. The degree of rigidity of spending is then proxied by the ratio of structural spending to total spending, with a higher value indicating that spending is driven mostly by factors out of the policy makers’ control. This concept of rigidity was applied to 120 countries for the years 2000†“17 and produced several interesting results: • Advanced economies and developing countries in other regions have higher levels of rigidity than countries in LAC. • The sources of rigidity vary by country. • Higher rigidity is associated with higher spending levels, higher tax rates, higher public debt, and lower efficiency of public spending. • Rigidity has pervasive effects on fiscal sustainability, increasing the country’s financing needs and reducing the probability of the country starting a fiscal adjustment. Given these pervasive effects of spending rigidity, the report concludes by discussing several policies to contain the sources of rigidity in the long term, ranging from the importance of deepening the pension reform process to the need of establishing strong fiscal institutions promoting medium-term fiscal planning.

Macroeconomic Policy after the Crash

Author : Richard Barwell
Publisher : Springer
ISBN 13 : 1137515929
Total Pages : 477 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Macroeconomic Policy after the Crash by : Richard Barwell

Download or read book Macroeconomic Policy after the Crash written by Richard Barwell and published by Springer. This book was released on 2017-03-16 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the key policy debates during the post-crash era, describing the issues that policymakers grappled with, the decisions that they took and the details of the policy instruments that were created. Focusing specifically on issues in monetary and fiscal policy, chapters demonstrate that very little that was done during this period conformed to the simple textbook treatment of macroeconomic policy: central banks cutting policy rates or finance ministers cutting the rate of income tax. The author guides the reader through the revolution in the conduct of macroeconomic policy in an engaging and approachable manner, and illuminates the key innovations in the toolkit and themes in the debate over past years with great detail, from negative rates to quantitative easing, and from austerity versus financial repression, restructuring and default to productivity puzzles and deflation.

Globalization and the Least Developed Countries

Author : David Bigman
Publisher : CABI
ISBN 13 : 1845933095
Total Pages : 338 pages
Book Rating : 4.8/5 (459 download)

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Book Synopsis Globalization and the Least Developed Countries by : David Bigman

Download or read book Globalization and the Least Developed Countries written by David Bigman and published by CABI. This book was released on 2007-01-01 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most notable changes in the world economy during the past three decades has been the diverging trends in the growth of the developing countries. This book examines the opportunities open to the least developed countries as they design their strategies to accelerate growth and alleviate poverty.