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Author : Bozzano G Luisa
Publisher : Elsevier
Page : 746 pages
File Size : 48,5 Mb
Release : 2000-11-16
Category : Business & Economics
ISBN : 9780080545325
A Textbook on Macroeconomic Knowledge and Analysis
Author : Benjamin Higgins
Publisher : Routledge
Page : 384 pages
File Size : 44,8 Mb
Release : 2018-01-16
Category : Business & Economics
ISBN : 9781351292351
The world economy has undergone a fundamental transformation in recent decades and theoretical structures inherited from the 1930s through the 1950s, while retaining large elements of truth, are inadequate to deal with current problems. Benjamin Higgins feels that for a society such as the United States a fiscal policy needs to be adopted that can deal simultaneously with existing unemployment and inflation. He suggests three possible governmental policies: stimulating a high rate of long-run growth, by use of reward innovations and by maintaining the highest possible level of scientific and technical activity; isolating regions that are generators of inflation and others that are pools for unemployment; and establishing a system of direct controls similar to those used in wartime. Higgins describes the transformation of the cogent prewar business cycle, with its alternations of inflation or unemployment, then a transitional period of underemployment equilibrium and secular stagnation, and finally, the strange new world of today, one with economic fluctuations in the form of shifting trade-off curves and loops. He then applies his new paradigm to current problems, showing why they cannot be managed through macroeconomic monetary and fiscal policy. Higgins offers case studies of efforts to fight inflation and unemployment, and to reduce regional gaps, to show their strengths and weaknesses. It can be said that unemployment always results from too many people chasing too few jobs, and inflation is always caused by too much money chasing too few goods and services. Beyond such banal generalizations, Higgins maintains there is no single cause for either unemployment or inflation, and thus no single cure can be prescribed for either, let alone for both at once. Nor is it to be expected that the appropriate cure will prove to be the same in all countries at all times. He suggests that an optimal blend of monetary and fiscal policy that will produce the "minimum discomfort" is a good start. Employment Without Inflation will be of direct policy interest to economists, sociologists, and national planners.
Author : Edmond Malinvaud
Publisher : Unknown
Page : 712 pages
File Size : 47,7 Mb
Release : 2000
Category : Business cycles
ISBN : OCLC:648299183
Author : Jordi Galí
Publisher : Princeton University Press
Page : 295 pages
File Size : 51,8 Mb
Release : 2015-06-09
Category : Business & Economics
ISBN : 9781400866274
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Author : Thomas D. Willett
Publisher : Duke University Press
Page : 554 pages
File Size : 50,6 Mb
Release : 1988
Category : Business & Economics
ISBN : 0822308428
"A Pacific Research Institute for Public Policy book." Includes bibliographies and index.
Author : Geoffrey Hoyt Moore
Publisher : Ballinger Publishing Company
Page : 496 pages
File Size : 49,9 Mb
Release : 1980
Category : Business & Economics
ISBN : UOM:49015000929753
Author : Edmond Malinvaud
Publisher : Unknown
Page : 128 pages
File Size : 55,5 Mb
Release : 1998
Category : Macroeconomics
ISBN : LCCN:98015139
Author : United States. Panel on the American Economy: Employment, Productivity, and Inflation
Publisher : Unknown
Page : 100 pages
File Size : 42,6 Mb
Release : 1981
Category : Industrial productivity
ISBN : UIUC:30112070967408
Author : Robert James Gordon
Publisher : Cambridge University Press
Page : 520 pages
File Size : 46,9 Mb
Release : 2004
Category : Business & Economics
ISBN : 052153142X
Publisher Description
Author : Simone Dommer
Publisher : GRIN Verlag
Page : 27 pages
File Size : 53,5 Mb
Release : 2010-03-03
Category : Business & Economics
ISBN : 9783640549818
Studienarbeit aus dem Jahr 2009 im Fachbereich BWL - Unternehmensforschung, Operations Research, , Sprache: Deutsch, Abstract: This assignment covers the topic “Measuring Business Cycles”. A business cycle is defined as recurrent but not period fluctuations in business econom-ics. It includes four different phases: contraction (decrease of business activi-ties), trough (lower turning point), expansion or recovery (increase of busi-ness activities) and peak (upper turning point followed again by contraction). One business cycle can either last from trough to next trough or from one peak to another. Business cycles present fluctuations around a given growth-trend. According to the impulse-propagation approaching fluctuations are caused by three types of shocks: supply shock, private demand shock and policy shock. Short-time shifts in aggregate supply and aggregate demand have an impact on output, employment and price level as these factors are closely intercon-nected. Therefore economists use variables to track output, employment and price level in order to find out the current business cycle phase and to select the correct instruments or if necessary to start the counteractive measure-ments. The most important factor in determining the phase of the business cycle is the economic activity measured by gross domestic product (GDP), a procyc-lical variable. A positive GDP indicates that the economy is growing (expan-sion phase) and vice versa a negative GDP shows the economy is declining (contraction phase). Potential GDP shows the possible output under full em-ployment. The harmonisation of potential and real GDP can be influenced by decreasing the unemployment rate (share of unemployed people of labor force. Unemployment rate develops counter cyclically. In case economic ac-tivity increases (expansion phase), unemployment rate will fall and vice versa. Another important factor is inflation. High inflation devaluates value of money and rising inflation will increase the demand for higher wages leading to lower output. The objective of macroeconomic policy is to track the variables and to find the correct respond to each development. Possible instruments may be fo-cussing on stability in employment, prices and growth.
Author : Robert J. Gordon
Publisher : University of Chicago Press
Page : 882 pages
File Size : 51,6 Mb
Release : 2007-11-01
Category : Business & Economics
ISBN : 9780226304595
In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them." In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the labor market. Five papers focus on aggregate economic activity. In a number of cases, the papers present findings that challenge widely accepted models and assumptions. In addition to its substantive findings, The American Business Cycle includes an appendix containing both the first published history of the NBER business-cycle dating chronology and many previously unpublished historical data series.
Author : Ms.Valerie Cerra,A. Fatas,Ms.Sweta Chaman Saxena
Publisher : International Monetary Fund
Page : 50 pages
File Size : 54,7 Mb
Release : 2020-05-29
Category : Business & Economics
ISBN : 9781513536996
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 : Lakshman Achuthan,Anirvan Banerji
Publisher : Crown Currency
Page : 210 pages
File Size : 52,9 Mb
Release : 2004-05-18
Category : Business & Economics
ISBN : 9780385512589
How can you make wise decisions about your company and your personal future when you have no idea where the economy is headed? The answer is, you can’t. But you can learn how to accurately predict turns in the economy so that you can see the road ahead. And BEATING THE BUSINESS CYCLE shows you how. In BEATING THE BUSINESS CYCLE, Lakshman Achuthan and Anirvan Banerji, the directors of the renowned Economic Cycle Research Institute (ECRI) show how anyone can predict and profit from the inevitable booms and busts of the economy. Why should we believe them? Because while so many economists and financial gurus have failed to predict recessions in the past, ECRI’s forecasts are known for being uncannily accurate. The institute successfully predicted the U.S. recession of 2001 many months before the economists did; the 1990 recession and later recovery; and most recently, the weak U.S. recovery in 2002. ECRI is in constant demand by corporate America and the media. It is the “secret weapon” of companies from Disney to DuPont, the major fund managers, and many central banks. BEATING THE BUSINESS CYCLE is the first book to reveal how decision makers at all levels–managers, small business owners, and individuals–can see into the economy’s future when making key decisions. Should a large company search out new clients and build new factories or stores, or should it consider cost cutting and layoffs? Is it the right time for you to splurge on that luxury vacation or addition to your house, or would it be more prudent to cut back on big expenditures and save money for a rainy day? Written in an easy-to-understand, accessible style, BEATING THE BUSINESS CYCLE reveals which of the hundreds of economic indicators to trust and which ones to trash. It will give you the tools and confidence you need to make the right decisions at the right times–even when the rest of the investing and business world would persuade you otherwise. Whether you are a corporate manager or the owner of a small business, whether you have your money invested in stocks or in your home, BEATING THE BUSINESS CYCLE will give you the edge you need to trump the competition and stay ahead of the crowd.
Author : Edouard Challe
Publisher : MIT Press
Page : 361 pages
File Size : 55,5 Mb
Release : 2023-09-19
Category : Business & Economics
ISBN : 9780262549295
The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework. This textbook presents the basic tools for analyzing macroeconomic fluctuations and policies and applies them to contemporary issues. It employs a unified New Keynesian framework for understanding business cycles, major crises, and macroeconomic policies, introducing students to the approach most often used in academic macroeconomic analysis and by central banks and international institutions. The book addresses such topics as how recessions and crises spread; what instruments central banks and governments have to stimulate activity when private demand is weak; and what “unconventional” macroeconomic policies might work when conventional monetary policy loses its effectiveness (as has happened in many countries in the aftermath of the Great Recession.). The text introduces the foundations of modern business cycle theory through the notions of aggregate demand and aggregate supply, and then applies the theory to the study of regular business-cycle fluctuations in output, inflation, and employment. It considers conventional monetary and fiscal policies aimed at stabilizing the business cycle, and examines unconventional macroeconomic policies, including forward guidance and quantitative easing, in situations of “liquidity trap”—deep crises in which conventional policies are either ineffective or have very different effects than in normal time. This book is the first to use the New Keynesian framework at the advanced undergraduate level, connecting undergraduate learning not only with the more advanced tools taught at the graduate level but also with the large body of policy-oriented research in academic journals. End-of-chapter problems help students master the materials presented.
Author : Martin Neil Baily
Publisher : Washington, D.C. : Brookings Institution
Page : 394 pages
File Size : 43,6 Mb
Release : 1982
Category : Business & Economics
ISBN : UOM:39015002251695
Labor market performance, competition, and inflation; Unemployment, unsatisfied demand for labor, and compensation growth, 1956-80; Inflation, flexible exchange rates and the natural - of unemployment; Feedback between monetary policy, labor market activity, and wage inflation, 1955-78.