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Author: Tao Wu
Publisher: DIANE Publishing
ISBN: 1437935583
Category : Technology & Engineering
Languages : en
Pages : 41
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Book Description
The authors study the effects of oil-price shocks on the U.S economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, they classify them into various event types. They then develop measures of exogenous shocks that avoid endogeneity and predictability concerns. Estimation results indicate that oil-price shocks have had substantial and statistically significant effects during the last 25 years. In contrast, traditional vector auto-regression (VAR) approaches imply much weaker and insignificant effects for the same period. This discrepancy stems from the inability of VARs to separate exogenous oil-supply shocks from endogenous oil-price fluctuations driven by changes in oil demand. Illustrations.
Author: Tao Wu
Publisher: DIANE Publishing
ISBN: 1437935583
Category : Technology & Engineering
Languages : en
Pages : 41
Get Book Here
Book Description
The authors study the effects of oil-price shocks on the U.S economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, they classify them into various event types. They then develop measures of exogenous shocks that avoid endogeneity and predictability concerns. Estimation results indicate that oil-price shocks have had substantial and statistically significant effects during the last 25 years. In contrast, traditional vector auto-regression (VAR) approaches imply much weaker and insignificant effects for the same period. This discrepancy stems from the inability of VARs to separate exogenous oil-supply shocks from endogenous oil-price fluctuations driven by changes in oil demand. Illustrations.
Author: Isabella M. Weber
Publisher: Routledge
ISBN: 042995395X
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
China has become deeply integrated into the world economy. Yet, gradual marketization has facilitated the country’s rise without leading to its wholesale assimilation to global neoliberalism. This book uncovers the fierce contest about economic reforms that shaped China’s path. In the first post-Mao decade, China’s reformers were sharply divided. They agreed that China had to reform its economic system and move toward more marketization—but struggled over how to go about it. Should China destroy the core of the socialist system through shock therapy, or should it use the institutions of the planned economy as market creators? With hindsight, the historical record proves the high stakes behind the question: China embarked on an economic expansion commonly described as unprecedented in scope and pace, whereas Russia’s economy collapsed under shock therapy. Based on extensive research, including interviews with key Chinese and international participants and World Bank officials as well as insights gleaned from unpublished documents, the book charts the debate that ultimately enabled China to follow a path to gradual reindustrialization. Beyond shedding light on the crossroads of the 1980s, it reveals the intellectual foundations of state-market relations in reform-era China through a longue durée lens. Overall, the book delivers an original perspective on China’s economic model and its continuing contestations from within and from without.
Author: Todd G. Buchholz
Publisher: Harper Collins
ISBN: 0887309496
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
As the stock market enters rocky territory, a distinguished economist shows how to prepare for and even profit from market-shattering events.
Author: Nombulelo Gumata
Publisher: Springer
ISBN: 3319665200
Category : Business & Economics
Languages : en
Pages : 617
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Book Description
This book focuses on the implications of the South African labour market dynamics including labour market reforms and fiscal policy for monetary policy and financial stability. Evidence suggests there are benefits in adopting an approach that coordinates labour market policies and reforms, fiscal policy, price and financial stability. In particular, the benefits of coordinating policies present policymakers with policy options in cases where they are confronted by binding policy trade-offs and dilemmas, such as in cases when there is divergence in price and financial and economic growth outcomes. The empirical insights and policy recommendations are based on different techniques that include the counterfactual and endogenous-exogenous approaches, non-linearities introduced by thresholds and the impact of persistent and transitory shock effects. Themes covered in the book include various aspects of labour market conditions and reforms and their link to inflation and inflation expectations, the impact of the national minimum wage, the interaction between public and private sector wage inflation, economic policy uncertainty and employment, government debt thresholds, sovereign yields and debt ratings downgrades, labour productivity, the impact of inflation regimes on expansionary fiscal and monetary policy multipliers, the increase in government cost of funding on price and financial stability and the link between fiscal policy and credit dynamics.
Author: Mr. Francesco Grigoli
Publisher: International Monetary Fund
ISBN: 1616354895
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
This paper provides the first assessment of the contribution of idiosyncratic shocks to aggregate fluctuations in an emerging market using confidential data on the universe of Chilean firms. We find that idiosyncratic shocks account for more than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in previous studies based on advanced economies, despite a higher degree of market concentration in Chile.We show that this finding is explained by larger firms being less volatile and by weaker propagation effects across Chilean firms.
Author: Mr. Philip Barrett
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 51
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Book Description
We use payroll data on over 1 million workers at 80,000 small firms to construct county-month measures of employment, hours, and wages that correct for dynamic changes in sample composition in response to business cycle fluctuations. We use this to estimate the response of small firms' employment, hours and wages following tighter local labor market conditions. We find that employment and hours per worker fall and wages rise. This is consistent with the predictions of the response to a demand shock in the well-known “jobs ladder” model of labor markets. To check this interpretation, we show our results hold when instrumenting for local demand using county-level Department of Defense contract spending. Correction for dynamic sample bias is important -- without it, the hours fall by only one third as much and wages increase by double.
Author: Robert I. Webb
Publisher: FT Press
ISBN: 0133345807
Category : Business & Economics
Languages : en
Pages : 297
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Book Description
Don't fear crises: use them as opportunities to make money! Shock Markets shows traders and investors exactly how to do it -- with exceptional detail, not vague handwaving. Robert Webb and Alexander Webb offer meticulous breakdowns of recent crises, revealing how they impacted both individual stocks and the market as a whole -- and helping you create detailed game plans for profiting from future shocks. By fusing real-life trading examples with rigorous moment-by-moment analysis of price changes, they give you tools to survive and thrive in even the most volatile markets. This accessible, actionable book answers crucial questions like: What moves stock prices? What moves the overall market? How can you profit from understanding catalysts that precipitate sudden sharp changes in stock prices? From the actions of corporate executives to regulatory decisions, earnings announcements to merger deals, lawsuits to settlements, macroeconomic reports to the policy actions of foreign governments, seemingly remote factors can have a huge, sudden impact on stocks in today's interconnected markets. Shock Markets illuminates these catalysts, and demonstrates their shifting behavior during fads, fashions, bubbles, crashes, and market crises. The focus is completely practical: helping savvy traders uncover profit where others find only peril.
Author: F. Bailey Norwood
Publisher: Waveland Press
ISBN: 1478648678
Category : Technology & Engineering
Languages : en
Pages : 445
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Book Description
Friendly and readable, Agricultural Marketing and Price Analysis presents a comprehensive approach to agricultural price analysis, agricultural market structures, and agricultural marketing strategies. The authors engage students with very little exposure to economics and with only a basic grasp of algebra. The text utilizes a fresh approach and supplies thorough coverage of core topics, as well as complex topics such as general equilibrium models, game theory, and econometrics. It also provides an introduction to data analysis and incorporates many examples. Supplemental materials are available for additional practice and further exploration. Unique to the Second Edition is the inclusion of a chapter on consumer behavior and food preferences, as well as relevant areas of research. The authors introduce readers to the agricultural supply chain, including forecasting and inventory management. Succinct and approachable, this text sets the stage for an enjoyable and effective learning experience.
Author: Daniel Werner
Publisher: wbv Media GmbH & Company KG
ISBN: 3763940766
Category : Social Science
Languages : en
Pages : 279
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Book Description
Zahlreiche Länder, so auch Deutschland, zeichnen sich durch ausgeprägte regionale Disparitäten auf dem Arbeitsmarkt aus. Regionalökonomische Studien liefern unterschiedlichste Ansätze, um die Existenz solcher Unterschiede zu erklären. Aber nur wenige Arbeiten geben Aufschluss über die Dynamik regionaler Arbeitsmarktdisparitäten: Nehmen diese im Zeitablauf zu, verringern sie sich oder bleiben sie stabil? Auch blenden die bisherigen Studien aus, welche Rolle Beschäftigtengruppen mit unterschiedlichem Qualifikationsniveau in diesem Prozess spielen. Die Arbeit von Daniel Werner schließt diese Lücken. Detailliert untersucht Werner zudem die Anpassungsprozesse nach regionalen Arbeitsmarktschocks. Sein Fazit: Die Mobilität der Arbeitskräfte - und hier insbesondere das Pendeln - ist der wichtigste Ausgleichsmechanismus.
Author: Gardebroek, Cornelis
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Social Science
Languages : en
Pages : 44
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Book Description
This paper provides a comprehensive analysis of the dynamics of volatility between the corn, wheat, and soybean markets in the United States. Volatility interactions across markets, if they exist, may lower the effectiveness of diversification strategies to mitigate price risks and should be taken into account when analyzing the pricing behavior of different agricultural commodities. We follow a Multivariate Generalized Autoregressive Conditional Heteroskedasticity (MGARCH) approach to evaluate the level of interdependence and volatility transmission across these major crops on a daily, weekly, and monthly basis.
