Download or read book Money Bank Credit and Economic Cycles written by Jesús Huerta de Soto and published by Ludwig von Mises Institute. This book was released on 2006 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Banking Cycles written by Lincoln Withington Hall and published by . This book was released on 1927 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Cycles written by Dimitris N. Chorafas and published by Springer. This book was released on 2016-04-30 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Banking and the Business Cycle written by Chester Arthur Philips and published by Ludwig von Mises Institute. This book was released on 1972 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Cycles Early Warning Indicators of Banking Crises written by Ms. Sally Chen and published by International Monetary Fund. This book was released on 2021-04-29 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Money Bank Credit and Economic Cycles written by Jesús Huerta de Soto and published by Ludwig von Mises Institute. This book was released on 2009 with total page 939 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Business Cycles and Financial Crises written by A. W. Mullineux and published by Bookboon. This book was released on 1990 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Cycles and the Real Economy written by Ewald Nowotny and published by Edward Elgar Publishing. This book was released on 2014-10-31 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book How Do Business and Financial Cycles Interact written by Mr.Marco Terrones and published by International Monetary Fund. This book was released on 2011-04-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Boom and Bust written by Alex J. Pollock and published by Government Institutes. This book was released on 2010-11-16 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the recent economic crisis was a painful period for many Americans, the panic surrounding the downturn was fueled by an incomplete understanding of economic history. Economic hysteria made for riveting journalism and effective political theater, but the politicians and members of the media who declared that America was in the midst of the greatest financial calamity since the Great Depression were as wrong and misguided as the expansionists of the Roosevelt era. In reality the cyclical nature of market economies is as old as the markets themselves. In a free market system, financial downturns inevitably accompany economic prosperity-but the overall trend is upward progress in living standards and national wealth. While it is helpful to understand what caused the recent crisis, the more important questions to consider are 'What makes the 'boom and bust' cycle so predictable?' and 'What are the ethical responsibilities of the citizens of a free market economy?' In Boom and Bust: Financial Cycles and Human Prosperity, Alex J. Pollock argues that while economic downturns can be frightening and difficult, people living in free market economies enjoy greater health, better access to basic necessities, better education, work less arduous jobs, and have more choices and wider horizons than people at any other point in history. This wonderful reality would not exist in the absence of financial cycles. This book explains why.
Download or read book Business Cycles written by Lars Tvede and published by John Wiley & Sons. This book was released on 2006-05-26 with total page 512 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Money Banking and the Business Cycle written by Brian P. Simpson and published by Springer. This book was released on 2015-12-11 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume I bridges tough economic theory with empirical evidence.
Download or read book Principles written by Ray Dalio and published by Simon and Schuster. This book was released on 2018-08-07 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: #1 New York Times Bestseller “Significant...The book is both instructive and surprisingly moving.” —The New York Times Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals. In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine’s list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater’s exceptionally effective culture, which he describes as “an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency.” It is these principles, and not anything special about Dalio—who grew up an ordinary kid in a middle-class Long Island neighborhood—that he believes are the reason behind his success. In Principles, Dalio shares what he’s learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book’s hundreds of practical lessons, which are built around his cornerstones of “radical truth” and “radical transparency,” include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating “baseball cards” for all employees that distill their strengths and weaknesses, and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision-making that Dalio believes anyone can apply, no matter what they’re seeking to achieve. Here, from a man who has been called both “the Steve Jobs of investing” and “the philosopher king of the financial universe” (CIO magazine), is a rare opportunity to gain proven advice unlike anything you’ll find in the conventional business press.
Download or read book Financial Cycles written by Mr.Marco Terrones and published by International Monetary Fund. This book was released on 2011-04-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long and severe, especially those in housing and equity markets. Second, they are highly synchronized within countries, particularly credit and house price cycles. The extent of synchronization of financial cycles across countries is high as well, mainly for credit and equity cycles, and has been increasing over time. Third financial cycles accentuate each other and become magnified, especially during coincident downturns in credit and housing markets. Moreover, globally synchronized downturns tend to be associated with more prolonged and costly episodes, especially for credit and equity cycles. We discuss how these findings can guide future research on various aspects of financial market developments.
Download or read book Financial and Business Cycles in Brazil written by Mr.Ivo Krznar and published by International Monetary Fund. This book was released on 2017-01-27 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the nexus between the financial cycle and business cycle in Brazil. Cycles are estimated using a variety of commonly-used statistical methods and with a small, semistructural model of the Brazilian economy. An advantage of using the model-based approach is that financial and business cycles can be jointly estimated, allowing information from all key economic relationships to be used in a consistent way. The results show that Brazil is now in the downturn phase of the financial cycle. Moreover, the results underscore the importance of macro-financial linkages and highlight risks to the recovery going forward.
Download or read book Financial Soundness Indicators and the Characteristics of Financial Cycles written by Ms.Natasha Xingyuan Che and published by International Monetary Fund. This book was released on 2014-01-27 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better “financial soundness” of banks could help mitigate the volatility of financial cycles by reducing banks’ risk exposure. But trying to improve financial soundness in the midst of a downturn can do the opposite—further aggravating the contraction of credit. Consistent with this notion, the paper found that better initial scores in certain financial soundness indicators (FSIs) are associated with milder and shorter downturns; and improving FSIs during a downturn worsens the shrinkage of credit and amplifies the cycle. In this context, our results suggest that policy makers should be mindful about the timing of regulating changes in banks’ FSIs.
Download or read book Credit Reversals written by Mr. Francisco F. Vazquez and published by International Monetary Fund. This book was released on 2021-04-23 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity—credit reversals. Using data for 179 countries during 1960‒2017, the paper finds that reversals are a relatively common phenomenon--on average, they occur every five years. By comparison, banking crises take place every eight years on average. Credit reversals and banking crises also appear related to each other: reversals become more likely in the aftermath of banking crises, while the likelihood of crises drops following reversals. In terms of foregone economic activity, reversals are shown to be very costly, at about two-thirds of the costs of banking crises after taking into account their relative frequencies.
