Financial Dynamics And Business Cycles
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Financial Dynamics And Business Cycles
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Author : Willi Semmler
language : en
Publisher: Routledge
Release Date : 2019-08-08
Financial Dynamics And Business Cycles written by Willi Semmler and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-08 with Business & Economics categories.
As the 55th anniversary of the bank holiday of March 1933 approached, financial instability was a main topic in the financial press. Daily reports appeared of international debt crises, of the covert bankruptcy of deposit insurance, and of the near bankruptcy of one great financial institution after another. The great stock market crash of October 19 and 20, 1987, demonstrated that extreme instability can happen. It is generally asserted that the consequences of October 19th and 20th would have been disastrous if the Federal Reserve and Treasury interventions had not set things right. In 1933, financial markets in the United States and throughout the capitalist world collapsed. In the light of historical experience, the past 55 years are the anomaly. The papers collected in this volume come from various backgrounds and research paradigms. A common theme runs through these papers that makes the collection both interesting and important: The authors take seriously the obvious evidence that capitalist economies progress through time by lurching. Whether a particular study starts from household utility maximization or from the processes by which productive structures are reproduced and expanded, the authors are united in accepting the evidence that financial instability is a significant characteristic of modern capitalism.
Business Cycles And Financial Crises
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Author : A. W. Mullineux
language : en
Publisher: Bookboon
Release Date : 1990
Business Cycles And Financial Crises written by A. W. Mullineux and has been published by Bookboon this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business cycles categories.
Business Cycles
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Author : Francis X. Diebold
language : en
Publisher: Princeton University Press
Release Date : 2020-10-06
Business Cycles written by Francis X. Diebold and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-06 with Business & Economics categories.
This is the most sophisticated and up-to-date econometric analysis of business cycles now available. Francis Diebold and Glenn Rudebusch have long been acknowledged as leading experts on business cycles. And here they present a highly integrative collection of their most important essays on the subject, along with a detailed introduction that draws together the book's principal themes and findings. Diebold and Rudebusch use the latest quantitative methods to address five principal questions about the measurement, modeling, and forecasting of business cycles. They ask whether business cycles have become more moderate in the postwar period, concluding that recessions have, in fact, been shorter and shallower. They consider whether economic expansions and contractions tend to die of "old age." Contrary to popular wisdom, they find little evidence that expansions become more fragile the longer they last, although they do find that contractions are increasingly likely to end as they age. The authors discuss the defining characteristics of business cycles, focusing on how economic variables move together and on the timing of the slow alternation between expansions and contractions. They explore the difficulties of distinguishing between long-term trends in the economy and cyclical fluctuations. And they examine how business cycles can be forecast, looking in particular at how to predict turning points in cycles, rather than merely the level of future economic activity. They show here that the index of leading economic indicators is a poor predictor of future economic activity, and consider what we can learn from other indicators, such as financial variables. Throughout, the authors make use of a variety of advanced econometric techniques, including nonparametric analysis, fractional integration, and regime-switching models. Business Cycles is crucial reading for policymakers, bankers, and business executives.
Industrial Restructuring Financial Instability And The Dynamics Of The Postwar Us Economy Rle Business Cycles
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Author : David J. Carrier
language : en
Publisher: Routledge
Release Date : 2015-03-24
Industrial Restructuring Financial Instability And The Dynamics Of The Postwar Us Economy Rle Business Cycles written by David J. Carrier and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-24 with Business & Economics categories.
This volume, originally published in 1997, examines the combined effect of financial instability and industrial restructuring on postwar economic growth and recession in the US. It sheds light on the fundamental question of whether or not these trends are positive for the economy as a whole. To explain the cyclical nature of investment and finance, institutional theory regarding financial instability is examined in depth and related to Minsky’s analysis of investment behaviour. The author has created an empirical model of this behaviour which, he claims, accurately predicts historical consumption investment and GDP cycles.
Asset Prices Booms And Recessions
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Author : Willi Semmler
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-03-21
Asset Prices Booms And Recessions written by Willi Semmler 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 2007-03-21 with Business & Economics categories.
"Asset Prices, Booms and Recessions" is a book on Financial Economics from a dynamic perspective. It focuses on the dynamic interaction of financial markets and economic activity. The financial markets to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence. Empirical applications relate to episodes of financial instability and financial crises of the U.S., Latin American, Asian as well as Euro-area countries. The current version of the book has moved to a more extensive coverage of the topics in financial economics by updating the literature in the appropriate chapters. Moreover it gives a more extensive treatment of new and more advanced topics in financial economics such as international portfolio theory, multi-agent and evolutionary approaches, capital asset pricing beyond consumption-based models and dynamic portfolio decisions. Overall, the book presents material that researchers and practitioners in financial engineering need to know about economic dynamics and that economists, practitioners and policy makers need to know about the financial market.
Real And Financial Dynamics In A Macroeconomic Growth Model With Endogenous Cycles
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Author : Eleonora Cavallaro
language : en
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Release Date : 1999
Real And Financial Dynamics In A Macroeconomic Growth Model With Endogenous Cycles written by Eleonora Cavallaro and has been published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business cycles categories.
This book provides an analysis of the endogenous mechanisms that govern the dynamic processes in capitalist economies. A nonlinear IS-LM version of a macromodel is developed in which real and financial feed-back mechanisms lead to income distribution-employment dynamics along with fluctuations in aggregate demand and the capacity utilisation rate. Emphasis is placed on the relevance of demand constraints in firms' pricing strategies, within the context of imperfectly competitive markets, and its implications for the dynamics of income distribution in the cyclical process. The financial mechanisms appear in terms of the effects of the endogenous liquidity creation process on the dynamics of firms' indebtedness. The stress is on the two-fold nature of «finance» it supports the accumulation process and enhances growth, and yet it can lead to financial fragility and act as a source of systemic instability.
Nonlinearities In Economics
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Author : Giuseppe Orlando
language : en
Publisher: Springer Nature
Release Date : 2021-08-31
Nonlinearities In Economics written by Giuseppe Orlando and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-31 with Business & Economics categories.
This interdisciplinary book argues that the economy has an underlying non-linear structure and that business cycles are endogenous, which allows a greater explanatory power with respect to the traditional assumption that dynamics are stochastic and shocks are exogenous. The first part of this work is formal-methodological and provides the mathematical background needed for the remainder, while the second part presents the view that signal processing involves construction and deconstruction of information and that the efficacy of this process can be measured. The third part focuses on economics and provides the related background and literature on economic dynamics and the fourth part is devoted to new perspectives in understanding nonlinearities in economic dynamics: growth and cycles. By pursuing this approach, the book seeks to (1) determine whether, and if so where, common features exist, (2) discover some hidden features of economic dynamics, and (3) highlight specific indicators of structural changes in time series. Accordingly, it is a must read for everyone interested in a better understanding of economic dynamics, business cycles, econometrics and complex systems, as well as non-linear dynamics and chaos theory.
Dynamics Of Forecasting Financial Cycles
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Author : Lacy H. Hunt
language : en
Publisher: JAI Press(NY)
Release Date : 1976
Dynamics Of Forecasting Financial Cycles written by Lacy H. Hunt and has been published by JAI Press(NY) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Business & Economics categories.
Business Cycles
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Author : Wesley Clair Mitchell
language : en
Publisher: National Bureau of Economic Research
Release Date : 1927
Business Cycles written by Wesley Clair Mitchell and has been published by National Bureau of Economic Research this book supported file pdf, txt, epub, kindle and other format this book has been release on 1927 with Business & Economics categories.
Macroeconomics Of Growth Cycles And Financial Instability
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Author : Piero Ferri
language : en
Publisher: Edward Elgar Publishing
Release Date : 2011-01-01
Macroeconomics Of Growth Cycles And Financial Instability written by Piero Ferri and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
In light of the recent economic crisis and in keeping with Hyman Minsky's analysis of financial instability, this book considers the important interaction between cycles and growth, via the interplay between demand, supply andreal-world financial issues. This challenging book will prove a thought-provoking read for students and scholars of macroeconomics, heterodox economics, labour markets andmoney, finance and banking.