Download or read book A Working Model of Slump and Recovery from Disturbances to Capital Goods Demand in a Closed Non Monetary Economy written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-08-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Certain long swings in activity may involve one or more non-monetary mechanisms not yet studied. Unlike the fundamentally classical “real” theory of the business cycle refined in this decade, the emerging line of “real” models called structuralist, such as the model here, hinges on the long time required for complete adjustment of implicit labor contracts to real shocks disturbing labor demand. The structuralist model here describes the depression and recovery resulting from shocks in time preference, the public debt, or labor supply whose impact drives up the real rate of interest and drives down the real demand-price of investment goods.
Download or read book A Working Model of Slump and Recovery from Disturbances to Capital goods Demand in a Closed Non monetary Economy written by Edmund S. Phelps and published by . This book was released on 1988 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Seven Schools of Macroeconomic Thought written by Edmund S. Phelps and published by Oxford University Press. This book was released on 1990 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seven Schools of Macroeconomic Thought offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholar whose own contribution to the field is considerable. In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and `non-monetary' models of macroeconomics - the real business cycle theory and the 'structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy.
Download or read book Nicholas Kaldor and Mainstream Economics written by Edward J. Nell and published by Springer. This book was released on 1991-06-18 with total page 622 pages. Available in PDF, EPUB and Kindle. Book excerpt: An examination of the role of Nicholas Kaldor within economics. Topics covered range from Kaldor's discovery of the Von Neumann input-output model, to cyclical growth in a Kaldorian model, to Nicholas Kaldor as advocate of commodity reserve currency.
Download or read book Global Disequilibrium in the World Economy written by Mario Baldassarri and published by Springer. This book was released on 2016-07-27 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: The US twin deficit, Western European economic integration, Eastern Europe's transition towards a market economy, the debt burden of the Less Developed Countries, the growing and deepening discrimination against the rest of the world by new homogeneous areas such as the North America free trade area, the new Europe, and Japan are the issues at the heart of global disequilibrium in the world economy. This book brings together leading economists to analyse these issues and further the debate on the need for sound economic policies to avoid a crash on a global scale.
Download or read book Issues in Contemporary Economics written by Marc Nerlove and published by Springer. This book was released on 2016-07-27 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second volume of the proceedings of the IEA Congress in Athens. Part 1 on macroeconomics considers aspects of unemployment, both generally in a Keynesian framework and in more detail, while Part 2 discusses international aspects of macroeconomic fluctuations and macroeconomic equilibrium associated with the development of the European Community. Part 3 on econometrics deals particularly with the use of survey data and microeconomic theory to analyse decisions important to the understanding of macroeconomic fluctuations and expectation formation.
Download or read book Taxation in the United States and Europe written by Anthonie Knoester and published by Springer. This book was released on 2016-07-27 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on taxation and economic policy making. It contains a variety of contributions devoted to important theoretical and empirical topics of taxation. Among the issues discussed are tax reforms, the poverty trap and the Laffer curve, taxation and the inverted Haavelmo effect, the excess burden of taxation in the United States, corporation tax harmonisation and taxation policy and economic integration. In addition, it contains a survey of the tax policies actually pursued by Austria, France, Germany, Italy, the Netherlands, the United Kingdom and the United States in the 1980s and the 1990s thus providing an unique documentation for an international comparison. The book will be of interest for anyone who is professionally involved with the theory and practise of taxation.
Download or read book Structural Slumps written by Edmund S. Phelps and published by Harvard University Press. This book was released on 1994 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfied with the explanations of the business cycle provided by the Keynesian, monetarist, New Keynesian, and real business cycle schools, Edmund Phelps has developed from various existing strands-some modern and some classical--a radically different theory to account for the long periods of unemployment that have dogged the economies of the United States and Western Europe since the early 1970s. Phelps sees secular shifts and long swings of the unemployment rate as structural in nature. That is, they are typically the result of movements in the natural rate of unemployment (to which the equilibrium path is always tending) rather than of long-persisting deviations around a natural rate itself impervious to changing structure. What has been lacking is a "structuralist" theory of how the natural rate is disturbed by real demand and supply shocks, foreign and domestic, and the adjustments they set in motion. To study the determination of the natural rate path, Phelps constructs three stylized general equilibrium models, each one built around a distinct kind of asset in which firms invest and which is important for the hiring decision. An element of these models is the modern economics of the labor market whereby firms, in seeking to dampen their employees' propensities to quit and shirk, drive wages above market-clearing levels-the phenomenon of the "incentive wage"--and so generate involuntary unemployment in labor-market equilibrium. Another element is the capital market, where interest rates are disturbed by demand and supply shocks such as shifts in profitability, thrift, productivity, and the rate of technical progress and population increase. A general-equilibrium analysis shows how various real shocks, operating through interest rates upon the demand for employees and through the propensity to quit and shirk upon the incentive wage, act upon the natural rate (and thus equilibrium path). In an econometric and historical section, the new theory of economic activity is submitted to certain empirical tests against global postwar data. In the final section the author draws from the theory some suggestions for government policy measures that would best serve to combat structural slumps.
Download or read book Issues in Contemporary Economics Macroeconomics and econometrics written by International Economic Association. World Congress and published by . This book was released on 1991 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second volume of the proceedings of the IEA congress in Athens covers those sessions dealing mainly with aspects of macroeconomics and econometrics.
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book My Journeys in Economic Theory written by Edmund Phelps and published by Columbia University Press. This book was released on 2023-05-16 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edmund Phelps is among the most important economists of his generation. He developed a new understanding of unemployment and inflation and went on to rethink the roots of innovation. His work represents a lifelong project to put “people as we know them” into economic theory. In this book, Phelps tells the story of his role in reshaping economic theory, offering a powerful personal account of a creative and rewarding career. My Journeys in Economic Theory charts two major phases of Phelps’s work, illuminating the breadth of his contributions to the field. First, introducing the expectations of wage setters and cofounding the “equilibrium” rate of unemployment, he built the microeconomic foundations for the employment theory pioneered by Keynes and Hicks. More recently, he conceived a theory of “mass flourishing” superseding Schumpeter and Solow’s conception of the process of innovating—a theory in which individuals’ creativity and society’s dynamism fuel grassroots innovation and generate job satisfaction in the process. Phelps recounts his vivid experiences in the world of economics—fierce arguments, competition and collaboration, and the good fortune of time spent among some great figures—as well as his relationships with luminaries such as John Rawls, Thomas Nagel, Paul Samuelson, and Paul Volcker. At its core, this book shares the joy of intellectual achievement: the excitement of coming up with a new idea that radically departs from prevailing views and the satisfaction of exercising one’s own ingenuity instead of applying or developing others’ models. Telling the story of a life packed with intellectual adventure, My Journeys in Economic Theory provides a profound vision of a dynamic, modern economy that offers lives rich with creativity and meaning.
Download or read book Leading Contemporary Economists written by Steven Pressman and published by Routledge. This book was released on 2008-10-01 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the important contributions of several contemporary economic figures including recent Nobel Laureates. Describing their work and putting it into an historical perspective, these chapters explain how their work constitutes a major contribution to the discipline of economics and how it has broadened economic science. Co-Editor of
Download or read book Rivista delle societ commerciali written by and published by . This book was released on 1989 with total page 632 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes sections "Rassegna delle pubblicazioni economiche" and "Rassegna della stampa economica periodica."
Download or read book INTERNATIONAL MONETARY FUND STAFF PAPERS written by and published by . This book was released on 1989 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Download or read book Index of Economic Articles in Journals and Collective Volumes written by American Economic Association and published by . This book was released on 1991 with total page 1416 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Index of Economic Articles in Journals and Collective Volumes written by and published by . This book was released on 1995 with total page 1418 pages. Available in PDF, EPUB and Kindle. Book excerpt:
