Author: Jacob Marschak
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
Book Description
A Cross Section of Business Cycle Discussion ...
Author: Jacob Marschak
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
Book Description
A Cross Section of Business Cycle Discussion
Author: Jacob Marschak
Publisher:
ISBN:
Category :
Languages : en
Pages : 13
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 13
Book Description
Comparative Advantage and the Cross-section of Business Cycles
Author: Aart Kraay
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 62
Book Description
Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. We develop two alternative explanations based on the idea that comparative advantage causes rich countries to specialize in industries that use new technologies operated by skilled workers, while poor countries specialize in industries that use traditional technologies operated by unskilled workers. Since new technologies are difficult to imitate, the industries of rich countries enjoy more market power and face more inelastic product demands than those of poor countries. Since skilled workers are less likely to exit employment as a result of changes in economic conditions, industries in rich countries face more inelastic labour supplies than those of poor countries. We show that either asymmetry in industry characteristics can generate cross-country differences in business cycles that resemble those we observe in the data.
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 62
Book Description
Business cycles are both less volatile and more synchronized with the world cycle in rich countries than in poor ones. We develop two alternative explanations based on the idea that comparative advantage causes rich countries to specialize in industries that use new technologies operated by skilled workers, while poor countries specialize in industries that use traditional technologies operated by unskilled workers. Since new technologies are difficult to imitate, the industries of rich countries enjoy more market power and face more inelastic product demands than those of poor countries. Since skilled workers are less likely to exit employment as a result of changes in economic conditions, industries in rich countries face more inelastic labour supplies than those of poor countries. We show that either asymmetry in industry characteristics can generate cross-country differences in business cycles that resemble those we observe in the data.
Hysteresis and Business Cycles
Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
Book Description
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.
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
Book Description
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.
Business Cycles, Indicators, and Forecasting
Author: James H. Stock
Publisher: University of Chicago Press
ISBN: 0226774740
Category : Business & Economics
Languages : en
Pages : 350
Book Description
The inability of forecasters to predict accurately the 1990-1991 recession emphasizes the need for better ways for charting the course of the economy. In this volume, leading economists examine forecasting techniques developed over the past ten years, compare their performance to traditional econometric models, and discuss new methods for forecasting and time series analysis.
Publisher: University of Chicago Press
ISBN: 0226774740
Category : Business & Economics
Languages : en
Pages : 350
Book Description
The inability of forecasters to predict accurately the 1990-1991 recession emphasizes the need for better ways for charting the course of the economy. In this volume, leading economists examine forecasting techniques developed over the past ten years, compare their performance to traditional econometric models, and discuss new methods for forecasting and time series analysis.
International Finance Discussion Papers
Author:
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 52
Book Description
Publisher:
ISBN:
Category : International finance
Languages : en
Pages : 52
Book Description
Center for Economic Studies Discussion Paper
Author:
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 74
Book Description
Publisher:
ISBN:
Category : United States
Languages : en
Pages : 74
Book Description
Political Business Cycles
Author: Bruno S. Frey
Publisher: Edward Elgar Publishing
ISBN: 9781858983998
Category : Business cycles
Languages : en
Pages : 0
Book Description
A collection of articles on how the government influences the economy in order to secure re-election. This book surveys the empirical and major theoretical approaches, such as vote maximization, partisan and vote-cum-partisan models, and rational political business cycles. It provides extensions including the role of the central bank, of direct democracy, and the cycles in European communist countries, as well as discussing policy relevance.
Publisher: Edward Elgar Publishing
ISBN: 9781858983998
Category : Business cycles
Languages : en
Pages : 0
Book Description
A collection of articles on how the government influences the economy in order to secure re-election. This book surveys the empirical and major theoretical approaches, such as vote maximization, partisan and vote-cum-partisan models, and rational political business cycles. It provides extensions including the role of the central bank, of direct democracy, and the cycles in European communist countries, as well as discussing policy relevance.
Alfred Marshall
Author: John Cunningham Wood
Publisher: Taylor & Francis
ISBN: 9780415087339
Category : Economists
Languages : en
Pages : 422
Book Description
Publisher: Taylor & Francis
ISBN: 9780415087339
Category : Economists
Languages : en
Pages : 422
Book Description
The Spectral Analysis of Economic Time Series
Author: Jon Cunnyngham
Publisher:
ISBN:
Category : Spectral theory (Mathematics)
Languages : en
Pages : 100
Book Description
Publisher:
ISBN:
Category : Spectral theory (Mathematics)
Languages : en
Pages : 100
Book Description