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| Author | : Jesús Huerta de Soto |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 938 |
| Release | : 2006 |
| Genre | : Banks and banking |
| ISBN | : 1610163885 |
| Author | : Lincoln Withington Hall |
| Publisher | : |
| Total Pages | : 184 |
| Release | : 1927 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Dimitris N. Chorafas |
| Publisher | : Springer |
| Total Pages | : 252 |
| Release | : 2016-04-30 |
| Genre | : Business & Economics |
| ISBN | : 113749798X |
As financial positions expand, the economy becomes more vulnerable to adverse and unexpected developments taking place outside the six to seven year business cycle. Over 50 years ago Nikolai Kondratieff developed the theory of "The Long Waves in Economic Life", which incorporated an extended cycle of innovation and upward thrust, and changed our understanding of business cycles in financial settings. Financial Cycles concentrates on two areas that have thus far been omitted from mainstream economics. The first is the impact of the longer term financial cycle; the second is the beginning of de-globalization as the world enters an era of iron-glad economic blocks. Chorafas argues that to overcome the more narrow limits of the business cycle, we need to go beyond its traditional six to seven year focus and address the longer term. This includes the building-up and running-off of economic risks characterizing the financial cycle, as well as the appreciation of forces underwriting both its growth and its decay. An ever-increasing public debt and the behavior of the banking industry are two principal reasons why the structure of analysis characterizing the previous financial cycle no longer fits present-day realities. A new methodology starts getting in shape, even if it still has to acquire political legitimacy.
| Author | : Chester Arthur Philips |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 291 |
| Release | : 1972 |
| Genre | : |
| ISBN | : 1610162684 |
| Author | : Ms. Sally Chen |
| Publisher | : International Monetary Fund |
| Total Pages | : 79 |
| Release | : 2021-04-29 |
| Genre | : Business & Economics |
| ISBN | : 1513582305 |
Can the upturns and downturns in financial variables serve as early warning indicators of banking crises? Using data from 59 advanced and emerging economies, we show that financial overheating can be detected in real time. Equity prices and output gap are the best leading indicators in advanced markets; in emerging markets, these are equity and property prices and credit gap. Moreover, aggregating this information flags financial crisis many years before the crisis. Lastly, we find that the length of financial cycles is of medium-term frequency, calling into question the longer frequency widely used in the estimation of countercyclical capital buffers.
| Author | : Lars Tvede |
| Publisher | : John Wiley & Sons |
| Total Pages | : 512 |
| Release | : 2006-05-26 |
| Genre | : Business & Economics |
| ISBN | : |
During our lifetime we experience any number of business cycle crises which undermine our confidence and lead many to their ruin. We also experience the ‘happy days’ when our faith in the future becomes almost limitless, and when we forget that tides always turn again. So how can we better understand and predict these cycles? To answer these questions Lars Tvede takes us through a story that moves back in time to the Scottish gambler and financial genius, John Law, and then on to the distracted Adam Smith, the stockbroker Ricardo, the investment banker Thornton, the extrovert Schumpeter, the speculator Gould and many others to trace the theory and reality of business cycles, as it has evolved over 300 years. Gradually we reach the computer jugglers of the modern day who, with giant networks of equations, try to solve the same questions that have attracted the attention of classical economists throughout the centuries. Lars Tvede concludes this historical journey with a summary of what the core of the problem is and how modern understanding of business cycles can be used to forecast economic fluctuations. The final sections of the book provide detailed studies and explanations to of how stocks, bonds, hedge funds, private equity funds, gold, diamonds, exchange rates, real estate, commodities, art and collectibles, and numerous sub-sectors of some of these markets each behave over different categories of business cycles.
| Author | : Jesús Huerta de Soto |
| Publisher | : Ludwig von Mises Institute |
| Total Pages | : 939 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : 1933550392 |
Can the market fully manage the money and banking sector? Jesus Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterised the age of government control. Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating -- not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a decisive vindication of the Misesian-Rothbardian perspective on money, banking, and the law. The author has said that this is the most significant work on money and banking to appear since 1912, when Mises's own book was published and changed the way all economists thought about the subject. Its five main contributions: A wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times; An application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena; A comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy; An application of the Austrian critique of socialism to central banking; The most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship. Those are the main points but, in fact, this only scratches the surface. Indeed, it would be difficult to overestimate the importance of this book. De Soto provides also a defence of the Austrian perspective on business cycles against every other theory, defends the 100% reserve perspective from the point of view of Roman and British law, takes on the most important objections to full reserve theory, and presents a full policy program for radical reform. It could take a decade for the full implications of this book to be absorbed but this much is clear: all serious students of these subject matters will have to master this treatise.
| Author | : A. W. Mullineux |
| Publisher | : Bookboon |
| Total Pages | : 146 |
| Release | : 1990 |
| Genre | : Business cycles |
| ISBN | : 8776818853 |
| Author | : Ewald Nowotny |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 329 |
| Release | : 2014-10-31 |
| Genre | : Business & Economics |
| ISBN | : 1783477636 |
What is the link between the financial cycle - financial booms, followed by busts - and the real economy? What is the direction of this link and how salient is this connection? This unique book examines these fundamental questions and offers a paramoun
| Author | : Mr.Marco Terrones |
| Publisher | : International Monetary Fund |
| Total Pages | : 56 |
| Release | : 2011-04-01 |
| Genre | : Business & Economics |
| ISBN | : 1455233161 |
This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial cycles. In particular, recessions associated with financial disruption episodes, notably house price busts, tend to be longer and deeper than other recessions. Conversely, recoveries associated with rapid growth in credit and house prices tend to be stronger. These findings emphasize the importance of developments in credit and housing markets for the real economy.
