Business Cycle Dynamics And Stabilization Policies

Author : Hajime Hori
Publisher : Springer
Page : 142 pages
File Size : 50,9 Mb
Release : 2017-05-09
Category : Business & Economics
ISBN : 9789811030819

Get Book

Business Cycle Dynamics and Stabilization Policies by Hajime Hori Pdf

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.

Author : Ms.Valerie Cerra,A. Fatas,Ms.Sweta Chaman Saxena
Publisher : International Monetary Fund
Page : 50 pages
File Size : 40,5 Mb
Release : 2020-05-29
Category : Business & Economics
ISBN : 9781513536996

Get Book

Hysteresis and Business Cycles by Ms.Valerie Cerra,A. Fatas,Ms.Sweta Chaman Saxena Pdf

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.

Author : J.J. Polak,Jan Tinbergen
Publisher : Routledge
Page : 301 pages
File Size : 41,9 Mb
Release : 2004-06-01
Category : Business & Economics
ISBN : 9781134357178

Get Book

The Dynamics of Business Cycles by J.J. Polak,Jan Tinbergen Pdf

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'.

Author : Franco Nardini
Publisher : Springer Science & Business Media
Page : 187 pages
File Size : 43,8 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642566592

Get Book

Technical Progress and Economic Growth by Franco Nardini Pdf

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.

Author : T. Nagakawa
Publisher : Nova Publishers
Page : 308 pages
File Size : 45,9 Mb
Release : 2008
Category : Business & Economics
ISBN : 1600215033

Get Book

Business Fluctuations and Cycles by T. Nagakawa Pdf

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.

Author : Jan Tinbergen,Jacques Jacobus Polak
Publisher : Unknown
Page : 366 pages
File Size : 53,5 Mb
Release : 1950
Category : Business cycles
ISBN : OCLC:15433010

Get Book

The Dynamics of Business Cycles by Jan Tinbergen,Jacques Jacobus Polak Pdf

Author : Pascal Bridel,Muriel Dalpont
Publisher : Routledge
Page : 200 pages
File Size : 51,6 Mb
Release : 2017-10-02
Category : Business & Economics
ISBN : 9781317381983

Get Book

Business cycle theory as a basis for economic policy by Pascal Bridel,Muriel Dalpont Pdf

This book aims to start a debate on the relationship between economic theory – and more precisely business cycle theory – and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments. Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with the collapse, at least in academic circles, of the Keynesian consensus favouring stabilization policies. The alternative approach which emerged was based on an a priori hypothesis about the stability of the economy – or at least on its remarkable ability to stabilize itself. The direct consequence of this approach is that any stabilization objective for economic policy is not only misguided but also inefficient. There are many reasons why Keynesian policies ceased to be dominant in theoretical circles, but the most helpful circumstances for the rapid propagation of a new revolutionary theory is certainly the existence of an established orthodoxy, clearly inconsistent with the most salient facts of reality. This book offers a sample of different theoretical approaches to business cycles, examining their respective views on economic policy with the objective of understanding business cycles that have been lost, and identifying those views which explain fluctuations and the way we conceive economic policy. This book was originally published as a special issue of The European Journal of the History of Economic Thought.

Author : Jan Tinbergen,Jacques Jacobus Polak
Publisher : Routledge & Kegan Paul Books
Page : 366 pages
File Size : 43,5 Mb
Release : 2004-08-12
Category : Business & Economics
ISBN : 9780415321372

Get Book

The Dynamics of Business Cycles by Jan Tinbergen,Jacques Jacobus Polak Pdf

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'.

Author : Jan Tinbergen
Publisher : Unknown
Page : 366 pages
File Size : 52,6 Mb
Release : 1960
Category : Electronic
ISBN : OCLC:491983278

Get Book

The Dynamics of Business Cycles. A Study in Economic Fluctuations by Jan Tinbergen Pdf

Author : Willi Semmler
Publisher : Routledge
Page : 274 pages
File Size : 55,7 Mb
Release : 2019-08-08
Category : Business & Economics
ISBN : 9781315288802

Get Book

Financial Dynamics and Business Cycles by Willi Semmler Pdf

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.

Author : Jan Tinbergen
Publisher : Unknown
Page : 128 pages
File Size : 42,7 Mb
Release : 1950
Category : Electronic
ISBN : OCLC:882498076

Get Book

The Dynamics of Business Cycles by Jan Tinbergen Pdf

Author : Jan Tinbergen,Jacques Jacobus POLAK
Publisher : Unknown
Page : 128 pages
File Size : 47,7 Mb
Release : 1950
Category : Electronic
ISBN : OCLC:504130496

Get Book

The Dynamics of Business Cycles. A Study in Economic Fluctuations. By Jan Tinbergen and J.J. Polak. (Based on "Economische Bewegingsleer," by J. Tinbergen.). by Jan Tinbergen,Jacques Jacobus POLAK Pdf

Author : Jan Tinbergen
Publisher : Unknown
Page : 366 pages
File Size : 42,6 Mb
Release : 2005
Category : Business cycles
ISBN : 0203602005

Get Book

The Dynamics of Business Cycles by Jan Tinbergen Pdf

Author : Paul A. Volcker
Publisher : New York : Free Press
Page : 108 pages
File Size : 46,8 Mb
Release : 1978
Category : Business & Economics
ISBN : UOM:39015002647488

Get Book

The Rediscovery of the Business Cycle by Paul A. Volcker Pdf

Author : Kazuo Mino
Publisher : Springer
Page : 230 pages
File Size : 41,8 Mb
Release : 2017-07-11
Category : Business & Economics
ISBN : 9784431556091

Get Book

Growth and Business Cycles with Equilibrium Indeterminacy by Kazuo Mino Pdf

Over the past two decades, the issue of equilibrium indeterminacy has been one of the major research concerns in macroeconomic dynamics. Growth and Business Cycles with Equilibrium Indeterminacy discusses the main topics in this literature. Based on comprehensive surveys and the author’s original research, this book explores sunspot-driven fluctuations in real business cycle models, multiple equilibria in endogenous growth models, and the stabilization effects of fiscal and monetary policy rules. The book also considers equilibrium indeterminacy in open economy models.