Measuring Economic Slack
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Measuring Economic Slack
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Author : James Morley
language : en
Publisher:
Release Date : 2014
Measuring Economic Slack written by James Morley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Labor Market Slack And The Output Gap The Case Of Korea
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Author : Mr.Niels-Jakob H Hansen
language : en
Publisher: International Monetary Fund
Release Date : 2019-08-02
Labor Market Slack And The Output Gap The Case Of Korea written by Mr.Niels-Jakob H Hansen 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 2019-08-02 with Business & Economics categories.
Output gap estimates are widely used to inform macroeconomic policy decisions, including in Korea. The main determinant of these estimates is the measure of labor market slack. The traditional measure of unemployment in Korea yields an incomplete estimate of labor market slack, given that many workers prefer involuntary part-time jobs or leaving the labor force rather than registering as unemployed. This paper discusses a way in which the measure of unemployment can be broadened to yield a more accurate measure of labor market slack. This broader measure is then used to estimate the output gap using a multivariate filter, yielding a more meaningful measure of the output gap.
No Slack
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Author : Michael S. Barr
language : en
Publisher: Brookings Institution Press
Release Date : 2012
No Slack written by Michael S. Barr and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
The financial crisis exposed unsavory results of interactions between low- and moderate-income households and alternative and mainstream financial institutions: overleveraged incomes, high cost for financial services, and lack of access to useful financial products that can cushion against economic instability. It revealed a financial services system that is not well designed to serve these households, leaving them without financial slack. Pivotal analysis, focusing on metropolitan Detroit's low- and moderate-income neighborhoods, examines household decision making processes, behaviors, and attitudes toward a full range of financial transactions during the subprime lending boom. The author advocates helping families seek financial stability in three primary ways: enhancing individuals' financial capability, using technology to promote access to financial products and services that meet their needs, and establishing strong protections for consumers.
How Financial Slack Affects Corporate Performance
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Author : Bernadette Gral
language : en
Publisher: Springer Gabler
Release Date : 2013-12-27
How Financial Slack Affects Corporate Performance written by Bernadette Gral and has been published by Springer Gabler this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-27 with Business & Economics categories.
Bernadette Gral examines the relationship between financial slack and corporate performance in the European pharmaceutical industry during the financial crisis of 2007 to 2010. Her investigation includes correlational and regression analyses as well as the qualitative content analysis of newspaper articles. The results show that financial slack influences corporate performance measured as ROA based on net income, thus implying that firms use slack resources to enhance performance during crises. The findings support the arguments for a beneficial effect of financial slack on performance according to the resource based view and behavioral theory of the firm.
Is Business Cycle Asymmetry Intrinsic In Industrialized Economies
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Author : James Morley
language : en
Publisher:
Release Date : 2018
Is Business Cycle Asymmetry Intrinsic In Industrialized Economies written by James Morley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
We consider a model-averaged forecast-based estimate of the output gap to measure economic slack in ten industrialized economies. Our measure takes changes in the long-run growth rate into account and, by addressing model uncertainty using equal weights on different forecast-based estimates, is robust to different assumptions about the underlying structure of the economy. For all ten countries in the sample, we find that the estimated output gap has much larger negative movements during recessions than positive movements in expansions, suggesting business cycle asymmetry is an intrinsic characteristic of industrialized economies. Furthermore, the estimated output gap is always strongly negatively correlated with future output growth and unemployment and positively correlated with capacity utilization. It also implies a convex Phillips Curve in many cases. The model-averaged output gap is reliable in real time in the sense of being subject to relatively small revisions.
How Financial Slack Affects Corporate Performance
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Author : Bernadette Gral
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-30
How Financial Slack Affects Corporate Performance written by Bernadette Gral 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 2013-12-30 with Business & Economics categories.
Bernadette Gral examines the relationship between financial slack and corporate performance in the European pharmaceutical industry during the financial crisis of 2007 to 2010. Her investigation includes correlational and regression analyses as well as the qualitative content analysis of newspaper articles. The results show that financial slack influences corporate performance measured as ROA based on net income, thus implying that firms use slack resources to enhance performance during crises. The findings support the arguments for a beneficial effect of financial slack on performance according to the resource based view and behavioral theory of the firm.
Defensive Expectations
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Author : Liviu Voinea
language : en
Publisher: Springer Nature
Release Date : 2020-12-09
Defensive Expectations written by Liviu Voinea and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-09 with Business & Economics categories.
This book explains why inflation remains subdued after recessions, based on three revolutionary concepts: defensive expectations, compensatory savings, and cumulative wage gap. When income falls, consumption falls, and savings rise, as people rebuild their past wealth. Households will not spend more until they fully recover what they lost. The revised Phillips Curve explains that current inflation depends on the cumulative difference between current income and past income. This new theory is tested and validated by data for US since 1960 to date and for 35 OECD countries from 1990 to date. A number of policy implications are derived from these results. The book calls for an optimal policy mix between monetary policy and fiscal policy; it also discusses the coronavirus crisis as an extreme case of defensive expectations.
Political Economy Of The Swiss National Bank
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Author : Bruno Jeitziner
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Political Economy Of The Swiss National Bank written by Bruno Jeitziner 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.
Political Economy of the Swiss National Bank examines whether there exists any systematic political influence on Swiss monetary policy. A partial adjustment model is used to derive the reaction functions. Models of political business cycles and the theory of legislative control are for the first time applied to the Swiss institutional setting. The inflationary performance of the National Bank is not explained with the legal relationship between the executive branch of government and the central bank. It is interpreted as the result of the structure of the executive (commission government) and the characteristics of the Swiss political market for monetary policy. In empirical tests no indirect political influence, defined as a systematic relationship between fiscal and monetary policy, and no direct political influence from elections, the executive and the legislature can be detected.
Measuring U S Core Inflation The Stress Test Of Covid 19
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Author : Laurence M. Ball
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-17
Measuring U S Core Inflation The Stress Test Of Covid 19 written by Laurence M. Ball 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 2021-12-17 with Business & Economics categories.
Large price changes in industries affected by the COVID-19 pandemic have caused erratic fluctuations in the U.S. headline inflation rate. This paper compares alternative approaches to filtering out the transitory effects of these industry price changes and measuring the underlying or core level of inflation over 2020-2021. The Federal Reserve’s preferred measure of core, the inflation rate excluding food and energy prices (XFE), has performed poorly: over most of 2020-21, it is almost as volatile as headline inflation. Measures of core that exclude a fixed set of additional industries, such as the Atlanta Fed’s sticky-price inflation rate, have been less volatile, but the least volatile have been measures that filter out large price changes in any industry, such as the Cleveland Fed’s median inflation rate and the Dallas Fed’s trimmed mean inflation rate. These core measures have followed smooth paths, drifting down when the economy was weak in 2020 and then rising as the economy has rebounded. Overall, we find that the case for the Federal Reserve to move away from the traditional XFE measure of core has strengthened during 2020-21.
Economic Report Of The President Transmitted To The Congress
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Author : United States. President
language : en
Publisher:
Release Date : 1978
Economic Report Of The President Transmitted To The Congress written by United States. President and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Electronic journals categories.
Represents the annual report of the President's Council of Economic Advisers. Appendix B contains historical tables (from 1959 or earlier) on aspects of income (national, personal, and corporate), production, prices, employment, investment, taxes and transfers, and money and finance.