Macroeconomics Of Growth Cycles And Financial Instability
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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.
Business Cycles And Financial Crises
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Author : A. W. Mullineux
language : en
Publisher:
Release Date : 1990
Business Cycles And Financial Crises written by A. W. Mullineux and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.
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.
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.
Financial Cycles And The Real Economy
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Author : Ewald Nowotny
language : en
Publisher: Edward Elgar Publishing
Release Date : 2014-10-31
Financial Cycles And The Real Economy written by Ewald Nowotny 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 2014-10-31 with Business & Economics categories.
What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the direction of this link and how salient is this connection? This unique book examines these fundamental questions and offers a paramoun
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2017-11-16
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications 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 2017-11-16 with Business & Economics categories.
All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for shifts in trend output and the puzzling inconsistency of output dynamics with other cyclical components of production. The ‘output gap’ can be ill-conceived, poorly measured, and inconsistent over time. Persistent losses require more buffers and crisis-avoidance policies, affecting tradeoffs in prudential, macroeconomic, and reserve management policies. The frequency and depth of crises are key determinants of long-term growth and drive a new stylized model of economic development.
Financial Instability
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Author : V. D'Apice
language : en
Publisher: Springer
Release Date : 2016-04-30
Financial Instability written by V. D'Apice and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Business & Economics categories.
This book explains what is behind the wave of increasingly frequent and severe financial crises since the 1980s. It links theoretical and policy misconceptions to explain, in plain words, why and how global finance needs fixing. Otherwise, the world may not withstand the next, even bigger, financial crisis.
Macroeconomic Theory And Its Failings
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Author : Steven Kates
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
Macroeconomic Theory And Its Failings written by Steven Kates 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 2010-01-01 with Business & Economics categories.
This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought.
Macroeconomics
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Author : Wendy Carlin
language : en
Publisher: Oxford University Press
Release Date : 2024-01-29
Macroeconomics written by Wendy Carlin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-29 with categories.
At the cutting edge of the subject area, the authors bring the macroeconomics that researchers and policymakers use today into focus. By developing a coherent set of tractable models, the book enables students to explore and make sense of the pressing questions facing global economies.Carlin and Soskice connect students with contemporary research and policy in macroeconomics. The authors' 3-equation model - extended to include the financial system and with an integrated treatment of inequality - equips students with a method they can apply to the enduring challenges stirred by the financial crisis and the Great Recession.Key features* Engaged with the latest developments in macroeconomic research, policy, and debate, the authors make the cutting edge accessible to undergraduate readers* The theme of inequality is integrated throughout in modelling and applications, with incomplete contracts in labour and credit markets underpinning the presence of involuntary unemployment and credit constraints* The content distils business cycles into a 3-equation model of the demand side, the supply side, and the policy maker, providing a realistic and transparent model which students can deploy to address the questions that interest them* Open economy modelling for both flexible and fixed exchange rate regimes builds on the same foundations and handles oil and climate shocks, as well as the Eurozone crisis* Features thorough treatment of the financial system and how to integrate the financial and business cycles, including coverage on policy design and implementation for financial stability in the wake of the 2008-9 financial crisis and an exploration of hysteresis in the context of the Great Recession* Comprehensive coverage of monetary policy including the ample reserves regime and of fiscal policy and debt dynamics* Unified treatment of exogenous and endogenous growth models emphasizing the different mechanisms through which diminishing returns to capital can be offset, while Chapter 17 on the ICT revolution examines the implications of innovation and technological change on the future of work and inequality* Contains a chapter considering contemporary quantitative macroeconomics research - including the Heterogeneous Agent New Keynesian (HANK) model - exposing students to the tools that researchers currently use, as well as the benefits and limitations of these methods* End-of-chapter 'Checklist questions' enable students to assess their comprehension, while 'Problems' prompt students to apply independent critical thought* Also available as an e-book enhanced with access to The Macroeconomic Simulator, Animated Analytical Diagrams, and self-assessment activities enabling students to recap content and investigate how models work at their own paceDigital formats and resourcesThis title is available for students and institutions to purchase in a variety of formats and is supported by online resources.The e-book offers a mobile experience and convenient access along with self-assessment activities, multi-media content, and links that offer extra learning support. For more information visit:www.oxfordtextbooks.co.uk/ebooks/This title is supported by a range of online resource for students including multiple-choice-questions with instant feedback, interactive Animated Analytical Diagrams, access to The Macroeconomic Simulator, web appendices which develop chapters 1, 4, 7, and 18, In addition, lecturers can access PowerPoint slides to accompany each chapter and answers to the problems and questions set in the book.
Principles Of Macroeconomics
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Author : Howard J. Sherman
language : en
Publisher: Routledge
Release Date : 2018-08-06
Principles Of Macroeconomics written by Howard J. Sherman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-06 with Business & Economics categories.
In the years since 2007 the U.S. economy has endured a severe financial crisis, a Great Recession, and continuing heavy unemployment. These events have led to increasing discontent among many people contributing to a substantial vote for Bernie Sanders and the election of Donald Trump. Meanwhile, Europe has witnessed the rise of nationalist parties and Brexit. In the face of these problems and events, economics must change. Principles of Macroeconomics: Activist vs. Austerity Policies provides an antidote to the standard macro texts offering multiple points of view instead of one standard line, a fact-based focus on the causes and cures of instability in economics, and an examination of inequality in the United States. Readers are introduced to both the Classical view, which takes the conservative approach and argues for an austerity program to reduce the size of the government; and the Progressive view, which argues for government intervention to create a strong recovery. These ideas are applied to all the key macroeconomic topics including economic growth, business cycles, and monetary policy. Using the methodology of Wesley Mitchell and drawing on the work of Keynes, the authors also explore topics such as unemployment, the human cost of economic crashes, increasing inequality of income, and the history of capitalism. This second edition includes new material on the Obama recovery, the crisis in the Eurozone, the rise of populism, and the current state of healthcare, education, and environmental issues in America to bring the text fully up to date. It will be of great interest to undergraduate students and particularly those studying the economics of the United States.