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Business Cycle Dynamics and Stabilization Policies

2017-05-09 Business & Economics
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Release : 2017-05-09
Genre : Business & Economics
Kind : eBook
Book Rating : 812/5 ( reviews)

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Book Synopsis Business Cycle Dynamics and Stabilization Policies by : Hajime Hori

Download or read book Business Cycle Dynamics and Stabilization Policies written by Hajime Hori. This book was released on 2017-05-09. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Technical Progress and Economic Growth

2012-12-06 Business & Economics
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Release : 2012-12-06
Genre : Business & Economics
Kind : eBook
Book Rating : 596/5 ( reviews)

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Book Synopsis Technical Progress and Economic Growth by : Franco Nardini

Download or read book Technical Progress and Economic Growth written by Franco Nardini. This book was released on 2012-12-06. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Hysteresis and Business Cycles

2020-05-29 Business & Economics
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Release : 2020-05-29
Genre : Business & Economics
Kind : eBook
Book Rating : 990/5 ( reviews)

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Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra

Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra. This book was released on 2020-05-29. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Business Fluctuations and Cycles

2008 Business & Economics
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Release : 2008
Genre : Business & Economics
Kind : eBook
Book Rating : 032/5 ( reviews)

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Book Synopsis Business Fluctuations and Cycles by : T. Nagakawa

Download or read book Business Fluctuations and Cycles written by T. Nagakawa. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Dynamics of Business Cycles

2004-06-01 Business & Economics
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Release : 2004-06-01
Genre : Business & Economics
Kind : eBook
Book Rating : 176/5 ( reviews)

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Book Synopsis The Dynamics of Business Cycles by : J.J. Polak

Download or read book The Dynamics of Business Cycles written by J.J. Polak. This book was released on 2004-06-01. Available in PDF, EPUB and Kindle. Book excerpt: 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'.

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