Business Cycle Dynamics And Stabilization Policies
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Business Cycle Dynamics And Stabilization Policies
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Author : Hajime Hori
language : en
Publisher: Springer
Release Date : 2017-05-09
Business Cycle Dynamics And Stabilization Policies written by Hajime Hori and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-09 with Business & Economics categories.
This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.
The Dynamics Of Business Cycles
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Author : J.J. Polak
language : en
Publisher: Routledge
Release Date : 2004-06-01
The Dynamics Of Business Cycles written by J.J. Polak and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-01 with Business & Economics categories.
Originally published in 1942, this landmark volume makes available the entire business-cycle analysis of the Dutch economist, Jan Tinbergen, whose work in economic dynamics stimulated a new school of econometric research. The book explains what is typical and common in economic movements - the system of supply and demand schedules used to describe a market, certain technical relations, and 'balance equations'.
Technical Progress And Economic Growth
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Author : Franco Nardini
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Technical Progress And Economic Growth written by Franco Nardini and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
In this book we intend to discuss economic fluctuations and growth and possible stabilizing fiscal policies. Since these topics are major preoccupa tions of economic theorists and have been extensively discussed since the classics, one may wonder why another book on these subjects. A possible defense is that we are going to do so in the framework of a two-sector model where the main featureS of each sector depend on the characteristics of the goods produced by the sector itself. The conventional wisdom suggests that the problem of (dis )aggregation in growth and business cycle theory is basically a quantitative one: the model should consider as many sectors, goods, and agents as necessary to provide a sufficiently rich picture, the upper bound obviously resulting from the tractability of the problem. In this attitude the same equilibrium (or diseqUilibrium) assumptions generally hold true throughout all sectors. Here we want to prove the relevance of an alternative approach: we look at the qualitative differences across sectors and at the peculiarities of each market as at the determinants of the economic dynamics. This tradition goes back over one hundred years to Tugan-Baranowkj and has been de veloped by Aftalion, Fanno, Spiethof, and Lowe, but has never been sys tematically formalized.
Business Fluctuations And Cycles
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Author : T. Nagakawa
language : en
Publisher: Nova Publishers
Release Date : 2008
Business Fluctuations And Cycles written by T. Nagakawa and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
The business cycle or economic cycle refers to the periodic fluctuations of economic activity about its long term growth trend. The cycle involves shifts over time between periods of relatively rapid growth of output (recovery and prosperity), alternating with periods of relative stagnation or decline (contraction or recession). These fluctuations are often measured using the real gross domestic product. One of the government's main roles is to smooth out the business cycle and reduce its fluctuations. To call those alternances 'cycles' is rather misleading as they don't tend to repeat at fairly regular time intervals. Most observers find that their lengths (from peak to peak, or from trough to trough) vary, so that cycles are not mechanical in their regularity. Since no two cycles are alike in their details, some economists dispute the existence of cycles and use the word 'fluctuations' (or the like) instead. Others see enough similarities between cycles that the cycle is a valid basis of studying the state of the economy. A key question is whether or not there are similar mechanisms that generate recessions and/or booms that exist in capitalist economies so that the dynamics that appear as a cycle will be seen again and again. This new book presents leading-edge research in this field.
Business Cycle Theory As A Basis For Economic Policy
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Author : Pascal Bridel
language : en
Publisher: Routledge
Release Date : 2017-10-02
Business Cycle Theory As A Basis For Economic Policy written by Pascal Bridel and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-02 with Business & Economics categories.
This book aims to start a debate on the relationship between economic theory – and more precisely business cycle theory – and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments. Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with the collapse, at least in academic circles, of the Keynesian consensus favouring stabilization policies. The alternative approach which emerged was based on an a priori hypothesis about the stability of the economy – or at least on its remarkable ability to stabilize itself. The direct consequence of this approach is that any stabilization objective for economic policy is not only misguided but also inefficient. There are many reasons why Keynesian policies ceased to be dominant in theoretical circles, but the most helpful circumstances for the rapid propagation of a new revolutionary theory is certainly the existence of an established orthodoxy, clearly inconsistent with the most salient facts of reality. This book offers a sample of different theoretical approaches to business cycles, examining their respective views on economic policy with the objective of understanding business cycles that have been lost, and identifying those views which explain fluctuations and the way we conceive economic policy. This book was originally published as a special issue of The European Journal of the History of Economic Thought.
The Dynamics Of Business Cycles
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Author : Jan Tinbergen
language : en
Publisher: Routledge & Kegan Paul Books
Release Date : 2004-08-12
The Dynamics Of Business Cycles written by Jan Tinbergen and has been published by Routledge & Kegan Paul Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-08-12 with Business & Economics categories.
Originally published in 1942, this landmark volume makes available the entire business-cycle analysis of the Dutch economist, Jan Tinbergen, whose work in economic dynamics stimulated a new school of econometric research. The book explains what is typical and common in economic movements - the system of supply and demand schedules used to describe a market, certain technical relations, and 'balance equations'.
The Dynamics Of Business Cycles
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Author : Jan Tinbergen
language : en
Publisher:
Release Date : 1950
The Dynamics Of Business Cycles written by Jan Tinbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1950 with Business cycles categories.
The Dynamics Of Business Cycles
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Author : Jan Tinbergen
language : en
Publisher:
Release Date : 2005
The Dynamics Of Business Cycles written by Jan Tinbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business cycles categories.
Hysteresis And Business Cycles
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-29
Hysteresis And Business Cycles written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
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.
The Dynamics Of Business Cycles A Study In Economic Fluctuations By Jan Tinbergen And J J Polak Based On Economische Bewegingsleer By J Tinbergen
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Author : Jan Tinbergen
language : en
Publisher:
Release Date : 1950
The Dynamics Of Business Cycles A Study In Economic Fluctuations By Jan Tinbergen And J J Polak Based On Economische Bewegingsleer By J Tinbergen written by Jan Tinbergen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1950 with categories.