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Author : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (754 download)
Download or read book Sources and propagation of international business cycles, common shocks or transmission? written by Fabio Canova and published by . This book was released on 1993 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book Sources and Propagation of International Business Cycles : Common Shocks Or Transmission? : European Summer Symposium in Macroeconomics, Roda de Bará, 28 May/1 June 1993 written by Fabio Canova and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (373 download)
Download or read book Sources and Propagation of International Cycles written by Fabio Canova and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (535 download)
Download or read book Sources and Propagation of International Output Cycles written by Fabio Canova and published by . This book was released on 1997 with total page 33 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 : Fabio Canova
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.X/5 (2 download)
Download or read book Sources and Propagation of International Business Cycles written by Fabio Canova and published by . This book was released on 1993 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marco Centoni
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (129 download)
Download or read book Common Shocks, Common Dynamics and the International Business Cycle written by Marco Centoni and published by . This book was released on 2006 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes an econometric framework to assess the importance of common shocks and common transmission mechanisms ingenerating international business cycles. Then we show how to decompose the cyclical effects of permanent-transitory shocks into those due to their domestic and those due to foreign components. Our empirical analysis reveals that the business cycles of the US,Japan,Canada are clearly dominated by their domestic components. The Euro area is more sensitive to foreign shocks compared to the other three countries of our analysis.
Author : Claudio Morana
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Business Cycle Comovement in the G-7 written by Claudio Morana and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the sources of macroeconomic comovement among G-7 countries? Two main candidate explanations may be singled out: common shocks and common transmission mechanisms. In the paper it is shown that they are complementary, rather than alternative, explanations. By means of a large-scale factor vector autoregressive (FVAR) model, allowing for full economic and statistical identification of all global and idiosyncratic shocks, it is found that both common disturbances and common transmission mechanisms of global and country-specific shocks account for business cycle comovement in the G-7 countries. Moreover, spillover effects of foreign idiosyncratic disturbances seem to be a less important factor than the common transmission of global or domestic shocks in the determination of international macroeconomic comovements.
Author : Marco Centoni
Publisher :
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4.:/5 (249 download)
Download or read book Common Shocks, Common Dynamics and the International Business Cycle written by Marco Centoni and published by . This book was released on 2003 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451847688
Total Pages : 26 pages
Book Rating : 4.4/5 (518 download)
Download or read book International Trade and the Business Cycle written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1999-04-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by different shocks and attempts to reconcile these results with unconditional correlations found in the data. The results suggest that, in the post-Bretton Woods period, nominal shocks have been an important determinant of the forecast error variance for fluctuations in the trade balances of the Group of Seven countries.
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 : Richard H. Clarida
Publisher : MIT Press
ISBN 13 : 0262033607
Total Pages : 551 pages
Book Rating : 4.2/5 (62 download)
Download or read book NBER International Seminar on Macroeconomics 2004 written by Richard H. Clarida and published by MIT Press. This book was released on 2006 with total page 551 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading American and European economists discuss monetary and fiscal policy from a global macroeconomic perspective and analyze the implications of European integration; cutting-edge research presented in a companion volume to the NBER Macroeconomics Annual.
Author : Laurent Ferrara
Publisher : Springer
ISBN 13 : 3319790757
Total Pages : 300 pages
Book Rating : 4.3/5 (197 download)
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Author : Mr. Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 145189452X
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)
Download or read book International Trade and the Business Cycle written by Mr. Eswar Prasad and published by International Monetary Fund. This book was released on 1999-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by different shocks and attempts to reconcile these results with unconditional correlations found in the data. The results suggest that, in the post-Bretton Woods period, nominal shocks have been an important determinant of the forecast error variance for fluctuations in the trade balances of the Group of Seven countries.
Author : Toichiro Asada
Publisher : Springer Science & Business Media
ISBN 13 : 9783540401445
Total Pages : 568 pages
Book Rating : 4.4/5 (14 download)
Download or read book Open Economy Macrodynamics written by Toichiro Asada and published by Springer Science & Business Media. This book was released on 2003-06-17 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the first part of this book, we treat interacting and small open economies. We do this from an historical perspective, starting from the Classical model of the gold standard and the specie-flow mechanism and aim to show there that the Dornbusch IS-LM-PC approach, with or without rational expectations, can still be considered as a (if not the) core contribution to contemporaneous open economy macrodynamics, also on the level of structural macroeconometric model building. In the second part we then extend this analysis to the incorporation of more disequilibrium on the real markets, prominent further feedback channels of the macrodynamic literature and integrated macromodel building. We start from the closed economy, consider large open economies in a fixed exchange rate system, small open economies subject to high capital mobility, and finally two large interacting economies like the USA and Euroland. Our macrofounded approach extends and integrates non-market clearing traditions to macrodynamics and can be usefully compared with the New Keynesian approaches which are generally rigorously microfounded, but often much more limited in scope in capturing full market and agent interactions.
Author : Michael J. Artis
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book International Business Cycles and the ERM written by Michael J. Artis and published by . This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matthew J. Kotchen
Publisher : University of Chicago Press
ISBN 13 : 0226821749
Total Pages : 275 pages
Book Rating : 4.2/5 (268 download)
Download or read book Environmental and Energy Policy and the Economy written by Matthew J. Kotchen and published by University of Chicago Press. This book was released on 2022-01-24 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.
