The Source And Nature Of Long Term Memory In The Business Cycle
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The Source And Nature Of Long Term Memory In The Business Cycle
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Author : Andrew W. Lo
language : en
Publisher: Legare Street Press
Release Date : 2022-10-27
The Source And Nature Of Long Term Memory In The Business Cycle written by Andrew W. Lo and has been published by Legare Street Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-10-27 with History categories.
This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Sources And Nature Of Long Term Memory In The Business Cycle
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Author : Joseph G. Haubrich
language : en
Publisher:
Release Date : 1989
The Sources And Nature Of Long Term Memory In The Business Cycle written by Joseph G. Haubrich and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business cycles categories.
This paper examines the stochastic properties of aggregate macroeconomic time series from the standpoint of fractionally integrated models, and focuses on the persistence of economic shocks. We develop a simple macroeconomic model that exhibits long-term dependence, a consequence of aggregation in the presence of real business cycles. We derive the relation between properties of fractionally integrated macroeconomic time series and those of microeconomic data, and discuss how fiscal policy may alter their stochastic behavior. To implement these results empirically, we employ a test for fractionally integrated time series based on the Hurst-Mandelbrot rescaled range. This test is robust to short-term dependence, and is applied to quarterly and annual real GNP to determine the sources and nature of long-term dependence in the business cycle.
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.
Handbook On Social Structure Of Accumulation Theory
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Author : McDonough, Terrence
language : en
Publisher: Edward Elgar Publishing
Release Date : 2021-12-07
Handbook On Social Structure Of Accumulation Theory written by McDonough, Terrence 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 2021-12-07 with Business & Economics categories.
This pioneering Handbook offers a state-of-the-art exploration of the social structure of accumulation theory, a leading theory of stages of capitalism, expertly summarising its development to date. It breaks new ground in several areas, including econometric evidence for the theory and developing institutional analyses of technology and the environment.
Palgrave Handbook Of Econometrics
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Author : T. Mills
language : en
Publisher: Springer
Release Date : 2009-06-25
Palgrave Handbook Of Econometrics written by T. Mills and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-25 with Business & Economics categories.
Following theseminal Palgrave Handbook of Econometrics: Volume I , this second volume brings together the finestacademicsworking in econometrics today andexploresapplied econometrics, containing contributions onsubjects includinggrowth/development econometrics and applied econometrics and computing.
Time Series With Long Memory
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Author : Peter M. Robinson
language : en
Publisher: Advanced Texts in Econometrics
Release Date : 2003
Time Series With Long Memory written by Peter M. Robinson and has been published by Advanced Texts in Econometrics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
Long memory time series are characterized by a strong dependence between distant events.
Growth Crisis And The Korean Economy
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Author : Dongchul Cho
language : en
Publisher: Routledge
Release Date : 2015-03-02
Growth Crisis And The Korean Economy written by Dongchul Cho and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-02 with Business & Economics categories.
Since the 2008 global financial crisis, policymakers as well as academicians have been seeking to fathom why subsequent recoveries remain tenuous. Other outstanding issues that they have been trying to understand include: why do some economies grow faster than others? How should the exchange rate volatility be understood and what factors make an economy more likely to fall into an exchange rate crisis? What policies need to be taken during tranquil periods, and how should they be changed once the crisis is triggered? As a partial effort to meet such interests, this book provides insights into these issues. This book examines growth and convergence (Part I), exchange rate volatility and the Asian crisis (Part II), and the global crisis (Part III). In addition, the book also draws lessons from South Korea's experiences - a country which has undergone three different crises and brisk recoveries (Part IV). The book also includes some practical and policy-oriented analysis. This is a truly comprehensive book bringing together varied topics and diversity under one common theme - economic growth and crisis.
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.
New Challenges For Macroeconomic Policies
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Author : Gilles Dufrénot
language : en
Publisher: Springer Nature
Release Date : 2023-03-10
New Challenges For Macroeconomic Policies written by Gilles Dufrénot and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-10 with Business & Economics categories.
This book examines the economic policies that will underpin the evolution of growth in industrialised economies in coming decades. The change in focus of policymakers away from short-term regulation and policies towards problems of structural change is discussed in relation to the Taylor rule and Fisher relationship. Both empirical observations and quantitative analyses are utilised to explore diverse but interrelating topics, including interest rates dynamics, macroeconomic equilibrium, economic vulnerability, poverty and inequality, environmental sustainability, and monetary and fiscal policies. This book aims to propose policies that can produce economic growth without compromising social stability and environmental balances. It will be of interest to researchers and policymakers working within economic development and policy.
Nonlinear Dynamics Chaos And Instability
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Author : William A. Brock
language : en
Publisher: MIT Press
Release Date : 1991
Nonlinear Dynamics Chaos And Instability written by William A. Brock and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
Brock, Hsieh, and LeBaron show how the principles of chaos theory can be applied to such areas of economics and finance as the changing structure of stock returns and nonlinearity in foreign exchange.