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| Author | : Jeremy Greenwood |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 1986 |
| Genre | : Business cycles |
| ISBN | : |
| Author | : Donald Courtney Streever |
| Publisher | : |
| Total Pages | : 88 |
| Release | : 1960 |
| Genre | : Capital investments |
| ISBN | : |
| Author | : Ryo Jinnai |
| Publisher | : |
| Total Pages | : 39 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
This paper studies a model that includes investment-specific technological shocks, a variable capacity utilization rate, and endogenous product entry subject to sunk product development costs. These factors constitute a powerful amplification mechanism as they interact with each other. The model generates an economic boom in a state in which people anticipate a future endogenous productivity rise; replicates the empirical patterns of economic fluctuations, both at the business cycle frequency and at a medium frequency; and replicates the empirical negative correlation between the net entry rates and the real investment prices over business cycles.
| Author | : Andrea Raffo |
| Publisher | : DIANE Publishing |
| Total Pages | : 55 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 1437939104 |
Understanding the joint dynamics of internat. prices and quantities remains a central issue in internat. bus. cycles. Internat. relative prices appreciate when domestic consumption and output increase more than their foreign counterparts. In addition, both trade flows and trade prices display sizable volatility. This paper incorporates Hicks-neutral and investment-specific TS into a standard two-country general equilibrium model with variable capacity utilization and weak wealth effects on labor supply. Investment-specific TS introduce a source of fluctuations in absorption similar to taste shocks, thus reconciling theory and data. Also presents implications for the transmission mechanism of TS across countries. Illus. This is a print on demand pub.
| Author | : Ms.Valerie Cerra |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 2020-05-29 |
| Genre | : Business & Economics |
| ISBN | : 1513536990 |
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 | : Donald C. Streever |
| Publisher | : |
| Total Pages | : 76 |
| Release | : 1960 |
| Genre | : Capital investments |
| ISBN | : |
| Author | : Mr.Pau Rabanal |
| Publisher | : International Monetary Fund |
| Total Pages | : 68 |
| Release | : 2004-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1451875657 |
Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
| Author | : Ben S. Bernanke |
| Publisher | : MIT Press |
| Total Pages | : 364 |
| Release | : 1996 |
| Genre | : Business & Economics |
| ISBN | : 9780262522052 |
Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.
| Author | : James Hartley |
| Publisher | : Routledge |
| Total Pages | : 690 |
| Release | : 2013-07-04 |
| Genre | : Business & Economics |
| ISBN | : 1134694784 |
Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contemporary macroeconomics today. This volume presents: * the authoritative anthology in RBC. The work contains the major articles introducing and extending the theory as well as critical literature * an extensive introduction which contains an expository summary and critical evaluation of RBC theory * comprehensive coverage and balance between seminal papers and extensions; proponents and critics; and theory and empirics. Macroeconomics is a compulsory element in most economics courses, and this book will be an essential guide to one of its major theories.
| Author | : James Hartley |
| Publisher | : Routledge |
| Total Pages | : 684 |
| Release | : 2013-07-04 |
| Genre | : Business & Economics |
| ISBN | : 1134694792 |
Real Business Cycle theory combines the remains of monetarism with the new classical macroeconomics, and has become one of the dominant approaches within contemporary macroeconomics today. This volume presents: * the authoritative anthology in RBC. The work contains the major articles introducing and extending the theory as well as critical literature * an extensive introduction which contains an expository summary and critical evaluation of RBC theory * comprehensive coverage and balance between seminal papers and extensions; proponents and critics; and theory and empirics. Macroeconomics is a compulsory element in most economics courses, and this book will be an essential guide to one of its major theories.
