Growth Cycles

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Macroeconomics of Growth Cycles and Financial Instability

Piero Ferri
Macroeconomics of Growth Cycles and Financial Instability Book PDF

Author : Piero Ferri
Publisher : Edward Elgar Publishing
Page : 223 pages
File Size : 53,6 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9781849809177

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Macroeconomics of Growth Cycles and Financial Instability by Piero Ferri Pdf

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.

Growth Cycles

George W. Evans,Seppo Honkapohja,Paul Michael Romer
Growth Cycles Book PDF

Author : George W. Evans,Seppo Honkapohja,Paul Michael Romer
Publisher : Unknown
Page : 62 pages
File Size : 47,7 Mb
Release : 1996
Category : Business cycles
ISBN : UCSD:31822023659055

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Growth Cycles by George W. Evans,Seppo Honkapohja,Paul Michael Romer Pdf

We construct a rational expectations model in which aggregate growth alternates between a low growth and a high growth state. When all agents expect growth to be slow, the returns on investment are low, and little investment takes place. This slows growth and confirms the prediction that the returns on investment will be low. But if agents expect fast growth, investment is high, returns are high, and growth is rapid. This expectational indeterminacy is induced by complementarity between different types of capital goods. In a growth cycle there are stochastic shifts between high and low growth states and agents take full account of these transitions. The rules that agents need to form rational expectations in this equilibrium are simple. The equilibrium with growth cycles is stable under the dynamics implied by a correspondingly simple learning rule.

Growth Cycles and Multisectoral Economics: the Goodwin Tradition

Gianni Ricci,Kumaraswamy Velupillai
Growth Cycles and Multisectoral Economics the Goodwin Tradition Book PDF

Author : Gianni Ricci,Kumaraswamy Velupillai
Publisher : Springer Science & Business Media
Page : 134 pages
File Size : 52,7 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642492747

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Growth Cycles and Multisectoral Economics: the Goodwin Tradition by Gianni Ricci,Kumaraswamy Velupillai Pdf

This book contains a collection of the most significant contributions to some of R.M. Goodwin's ideas, which were presented on the occasion of the outstanding economist's 73rd birthday celebrations held in Modena on February 24th, 1986. The most important feature of this book is the unique combination of papers by economists, econometricians and mathematicians. Their papers deal with the different aspects of Goodwin's celebrated models. The book is divided into three parts. The first part contains five papers which describe Goodwin's scientific life. The second part is more quantitative and contains extensions and modifications to the nonlinear model of growth cycles. The third part is an economic reflection linked to Goodwin's themes. The book presents a combination of both qualitative and quantitative contributions to Goodwin's pioneering works.

Growth and Business Cycles with Equilibrium Indeterminacy

Kazuo Mino
Growth and Business Cycles with Equilibrium Indeterminacy Book PDF

Author : Kazuo Mino
Publisher : Springer
Page : 230 pages
File Size : 52,5 Mb
Release : 2017-07-11
Category : Business & Economics
ISBN : 9784431556091

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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.

Business Cycles

Victor Zarnowitz
Business Cycles Book PDF

Author : Victor Zarnowitz
Publisher : University of Chicago Press
Page : 614 pages
File Size : 52,7 Mb
Release : 1992-06-15
Category : Business & Economics
ISBN : 9780226978901

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Business Cycles by Victor Zarnowitz Pdf

Victor Zarnowitz has long been a leader in the study of business cycles, growth, inflation, and forecasting. These papers represent a carefully integrated and up-to-date study of business cycles, reexamining some of his earlier research as well as addressing recent developments in the literature and in history. In part one, Zarnowitz reviews with characteristic insight various theories of the business cycle, including Keynesian and monetary theories as well as more recent rational expectations and real business cycle theories. In doing so, he examines how the business cycle may have changed as the size of government, the exercise of fiscal and monetary policies, the openness of the economy to international forces, and the industrial structure have evolved over time. Emphasizing important research from the 1980s, Zarnowitz discusses in part two various measures of the trends and cycles in economic activity, including output, prices, inventories, investment in residential and nonresidential structures, equipment, and other economic variables. Here the author explores the duration and severity of U.S. business cycles over more than 150 years, and evaluates the ability of macro models to simulate past behavior of the economy. In part three the performance of leading, coincident, and lagging indicators is described and assessed and evidence is presented on the value of their composite measures. Finally, part four offers an analysis of the degree of success of large commercial forecasting firms and of many individual economists in predicting the course of inflation, real growth, unemployment, interest rates, and other key economic variables. Business Cycles is a timely study, certain tobecome a basic reference for professional forecasters and economists in government, academia, and the business community.

Political Economy, Growth, and Business Cycles

Alex Cukierman,Zvi Hercowitz,Leonardo Leiderman
Political Economy Growth and Business Cycles Book PDF

Author : Alex Cukierman,Zvi Hercowitz,Leonardo Leiderman
Publisher : MIT Press
Page : 430 pages
File Size : 50,5 Mb
Release : 1992
Category : Business & Economics
ISBN : 0262031949

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Political Economy, Growth, and Business Cycles by Alex Cukierman,Zvi Hercowitz,Leonardo Leiderman Pdf

These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.

The Impact of Science on Economic Growth and its Cycles

Arvid Aulin
The Impact of Science on Economic Growth and its Cycles Book PDF

Author : Arvid Aulin
Publisher : Springer Science & Business Media
Page : 212 pages
File Size : 53,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642958618

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The Impact of Science on Economic Growth and its Cycles by Arvid Aulin Pdf

The author shows that the enormous gap between theory and facts in modern macroeconomics can only be eliminated by nonlinear macroeconomic dynamics with the following special characteristics: First of all, only certain group-theoretical invariants generate the correct growth cycles with irregularly varying lengths, not any stochastic process as usually applied for this purpose. Furthermore, a special extended value function and generalized human capital are needed for a correct representation of scientific and technological innovation. Finally, the correct nonlinear macroeconomic dynamics are not reducible to microeconomics, for both of the above mentioned reasons.

Business Cycles and Depressions

David Glasner
Business Cycles and Depressions Book PDF

Author : David Glasner
Publisher : Routledge
Page : 800 pages
File Size : 53,7 Mb
Release : 2013-12-16
Category : Business & Economics
ISBN : 9781136545276

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Business Cycles and Depressions by David Glasner Pdf

Experts define, review, and evaluate economic fluctuations Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 323 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The work of more than 200 experts, including many of the leading researchers in the field, the articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. Individual entries explore banking panics, the cobweb cycle, consumer durables, the depression of 1937-1938, Otto Eckstein, Friedrich Engels, experimental price bubbles, forced savings, lass-Steagall Act, Friedrich hagen, qualitative indicators, use of macro-econometric models, monetary neutrality, Phillips Curve, Paul Samuelson, Say's law, supply-side recessions, James Tokin, trend and random wages, Thorstein Veblen, worker-job turnover, and more.

Transportation Indicators and Business Cycles

Kajal Lahiri,Badi H. Baltagi,Efraim Sadka
Transportation Indicators and Business Cycles Book PDF

Author : Kajal Lahiri,Badi H. Baltagi,Efraim Sadka
Publisher : Emerald Group Publishing
Page : 143 pages
File Size : 55,8 Mb
Release : 2010-09-06
Category : Business & Economics
ISBN : 9780857241474

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Transportation Indicators and Business Cycles by Kajal Lahiri,Badi H. Baltagi,Efraim Sadka Pdf

Addressing the role that the transportation sector plays in business cycle propagation, this title presents an index of the different indicators for this sector to identify its state, and predict its future, using various statistical procedures.

Building Cycles

Richard Barras
Building Cycles Book PDF

Author : Richard Barras
Publisher : John Wiley & Sons
Page : 448 pages
File Size : 45,5 Mb
Release : 2009-08-13
Category : Business & Economics
ISBN : 1444310011

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Building Cycles by Richard Barras Pdf

The global economic crisis of 2008 was precipitated by a housing market crash, thus highlighting the destabilizing influence of the property cycle upon the wider economy. This timely book by a world authority explores why cycles occur and how they affect the behaviour of real estate markets. The central argument put forward is that growth and instability are inextricably linked, and that building investment acts both as a key driver of growth and as the source of the most volatile cyclical fluctuations in an economy. The role of building cycles in both economic growth and urban development is explored through a theoretical review and a comparative historical analysis of UK and US national data stretching back to the start of the nineteenth century, together with a case study of the development of London since the start of the eighteenth century. A simulation model of the building cycle is presented and tested using data for the City of London office market. The analysis is then broadened to examine the operation of property cycles in global investment markets during the post-war period, focussing on their contribution to the diffusion of innovation, the accumulation of wealth and the propagation of market instability. Building Cycles: growth & instability concludes by synthesizing the main themes into a theoretical framework, which can guide our understanding of the operation and impact of building cycles on the modern economy. Postgraduate students on courses in property and in urban development as well as professional property researchers, urban economists and planners will find this a stimulating read – demanding but accessible.

Business Cycles in BRICS

Sergey Smirnov,Ataman Ozyildirim,Paulo Picchetti
Business Cycles in BRICS Book PDF

Author : Sergey Smirnov,Ataman Ozyildirim,Paulo Picchetti
Publisher : Springer
Page : 505 pages
File Size : 46,8 Mb
Release : 2018-08-15
Category : Business & Economics
ISBN : 9783319900179

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Business Cycles in BRICS by Sergey Smirnov,Ataman Ozyildirim,Paulo Picchetti Pdf

This volume focuses on the analysis and measurement of business cycles in Brazil, Russia, India, China and South Africa (BRICS). Divided into five parts, it begins with an overview of the main concepts and problems involved in monitoring and forecasting business cycles. Then it highlights the role of BRICS in the global economy and explores the interrelatedness of business cycles within BRICS. In turn, part two provides studies on the historical development of business cycles in the individual BRICS countries and describes the driving forces behind those cycles. Parts three and four present national business tendency surveys and composite cyclical indices for real-time monitoring and forecasting of various BRICS economies, while the final part discusses how the lessons learned in the BRICS countries can be used for the analysis of business cycles and their socio-political consequences in other emerging countries.

Analysing Modern Business Cycles: Essays Honoring Geoffrey H.Moore

Philip A. Klein
Analysing Modern Business Cycles Essays Honoring Geoffrey H Moore Book PDF

Author : Philip A. Klein
Publisher : Routledge
Page : 253 pages
File Size : 40,6 Mb
Release : 2019-07-25
Category : Business & Economics
ISBN : 9781315492278

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Analysing Modern Business Cycles: Essays Honoring Geoffrey H.Moore by Philip A. Klein Pdf

This "Festschrift" honours Geoffrey H. Moore's life-long contribution to the study of business cycles. After some analysts had concluded that business cycles were dead, renewed economic turbulence in the 1970s and 1980s brought new life to the subject. The study of business cycles now encompasses the global economic system, and this work aims to push back the frontiers of knowledge.

Analyzing Modern Business Cycles: Essays Honoring

Philip A Klein
Analyzing Modern Business Cycles Essays Honoring Book PDF

Author : Philip A Klein
Publisher : Routledge
Page : 356 pages
File Size : 41,7 Mb
Release : 2017-10-03
Category : Business & Economics
ISBN : 9781351695572

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Analyzing Modern Business Cycles: Essays Honoring by Philip A Klein Pdf

This title was first published in 1990.

Financial Dynamics and Business Cycles

Willi Semmler
Financial Dynamics and Business Cycles Book PDF

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

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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.

The Economics of Cycles and Growth

Stanley Bober
The Economics of Cycles and Growth Book PDF

Author : Stanley Bober
Publisher : Unknown
Page : 328 pages
File Size : 50,9 Mb
Release : 1968
Category : Business cycles
ISBN : UCAL:$B665923

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The Economics of Cycles and Growth by Stanley Bober Pdf

Textbook on business cycles and economic growth in aggregate economics - analyses economic models and economic theories, covers the characteristics of change, the anatomy of the cycle, consumption expenditures and investment expenditures, etc., and includes models of steady growth. Diagrams and references.