Download or read book Business Cycle Dynamics and Stabilization Policies written by Hajime Hori and published by Springer. This book was released on 2017-05-09 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

Download or read book Technical Progress and Economic Growth written by Franco Nardini and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book we intend to discuss economic fluctuations and growth and possible stabilizing fiscal policies. Since these topics are major preoccupa tions of economic theorists and have been extensively discussed since the classics, one may wonder why another book on these subjects. A possible defense is that we are going to do so in the framework of a two-sector model where the main featureS of each sector depend on the characteristics of the goods produced by the sector itself. The conventional wisdom suggests that the problem of (dis )aggregation in growth and business cycle theory is basically a quantitative one: the model should consider as many sectors, goods, and agents as necessary to provide a sufficiently rich picture, the upper bound obviously resulting from the tractability of the problem. In this attitude the same equilibrium (or diseqUilibrium) assumptions generally hold true throughout all sectors. Here we want to prove the relevance of an alternative approach: we look at the qualitative differences across sectors and at the peculiarities of each market as at the determinants of the economic dynamics. This tradition goes back over one hundred years to Tugan-Baranowkj and has been de veloped by Aftalion, Fanno, Spiethof, and Lowe, but has never been sys tematically formalized.

Download or read book Business Fluctuations and Cycles written by T. Nagakawa and published by Nova Publishers. This book was released on 2008 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The business cycle or economic cycle refers to the periodic fluctuations of economic activity about its long term growth trend. The cycle involves shifts over time between periods of relatively rapid growth of output (recovery and prosperity), alternating with periods of relative stagnation or decline (contraction or recession). These fluctuations are often measured using the real gross domestic product. One of the government's main roles is to smooth out the business cycle and reduce its fluctuations. To call those alternances 'cycles' is rather misleading as they don't tend to repeat at fairly regular time intervals. Most observers find that their lengths (from peak to peak, or from trough to trough) vary, so that cycles are not mechanical in their regularity. Since no two cycles are alike in their details, some economists dispute the existence of cycles and use the word 'fluctuations' (or the like) instead. Others see enough similarities between cycles that the cycle is a valid basis of studying the state of the economy. A key question is whether or not there are similar mechanisms that generate recessions and/or booms that exist in capitalist economies so that the dynamics that appear as a cycle will be seen again and again. This new book presents leading-edge research in this field.

Download or read book The Dynamics of Business Cycles written by J.J. Polak and published by Routledge. This book was released on 2004-06-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1942, this landmark volume makes available the entire business-cycle analysis of the Dutch economist, Jan Tinbergen, whose work in economic dynamics stimulated a new school of econometric research. The book explains what is typical and common in economic movements - the system of supply and demand schedules used to describe a market, certain technical relations, and 'balance equations'.

Download or read book Business cycle theory as a basis for economic policy written by Pascal Bridel and published by Routledge. This book was released on 2017-10-02 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to start a debate on the relationship between economic theory – and more precisely business cycle theory – and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments. Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with the collapse, at least in academic circles, of the Keynesian consensus favouring stabilization policies. The alternative approach which emerged was based on an a priori hypothesis about the stability of the economy – or at least on its remarkable ability to stabilize itself. The direct consequence of this approach is that any stabilization objective for economic policy is not only misguided but also inefficient. There are many reasons why Keynesian policies ceased to be dominant in theoretical circles, but the most helpful circumstances for the rapid propagation of a new revolutionary theory is certainly the existence of an established orthodoxy, clearly inconsistent with the most salient facts of reality. This book offers a sample of different theoretical approaches to business cycles, examining their respective views on economic policy with the objective of understanding business cycles that have been lost, and identifying those views which explain fluctuations and the way we conceive economic policy. This book was originally published as a special issue of The European Journal of the History of Economic Thought.

Download or read book Dynamics of Business Cycles in Vietnam written by Ha Le Thanh and published by LAP Lambert Academic Publishing. This book was released on 2014-11-12 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding and distinguishing among factors that affect macroeconomic fluctuations in the short-run and the long-run have been among the main area of quantitative macroeconomic research. Lucas (1977) argued that understanding business cycle is so important for designing appropriate stabilization policies. The term business cycle refers to source of the deviations from trend occurs because of the wavelike motion of real economic activity. Over three decades, a large body of empirical business cycle analysis with many powerful tools attempted to discover the main sources of macroeconomic fluctuations. Kydland and Prescott (1982) and Long and Plosser (1983) were pioneers in the real business cycle approach to economic fluctuation. In spite of unresolved issues, the research successfully explained some of the key empirical regularities of business cycle. After that research developed and focused on deriving the driving forces of business cycle fluctuations (Blanchard & Quah, 1989; Shapiro & Watson, 1998).

Download or read book Classical Linear control Analysis Applied to Business cycle Dynamics and Stability written by and published by . This book was released on 1983 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Dynamics of Business Cycles written by Jan Tinbergen and published by Routledge & Kegan Paul Books. This book was released on 2004-08-12 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1942, this landmark volume makes available the entire business-cycle analysis of the Dutch economist, Jan Tinbergen, whose work in economic dynamics stimulated a new school of econometric research. The book explains what is typical and common in economic movements - the system of supply and demand schedules used to describe a market, certain technical relations, and 'balance equations'.

Download or read book The Dynamics of Business Cycles A Study in Economic Fluctuations written by Jan Tinbergen and published by . This book was released on 1960 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Business Cycle Theory written by Günter Gabisch and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Is the business cycle obsolete?" This often cited title of a book edited by Bronfenbren ner with the implicit affirmation of the question reflected the attitude of mainstream macroeconomics in the 1960s regarding the empirical relevance of cyclic motions of an economy. The successful income policies, theoretically grounded in Keynesian macroec onomics, seemed to have eased or even abolished the fluctuations in Western economies which motivated studies of many classical and neoclassical economists for more than 100 years. The reasoning behind the conviction that business cycles would increasingly be come irrelevant was rather simple: if an economy fluctuates for whatever reason, then it is almost always possible to neutralize these cyclic motions by means of anticyclic demand policies. From the 1950s until the mid-1960s business cycle theory had often been consid ered either as an appendix to growth theory or as an academic exercise in dynamical economics. The common business cycle models were essentially multiplier-accelerator models whose dependence on particular parameter values (in order to exhibit oscillatory motion) suggested a rather improbable occurrence of persistent fluctuations. The obvi ous success in compensating business cycles in those days prevented intensive concern with the occurrence of cycles. Rather, business cycle theory turned into stabilization theory which investigated theoretical possibilities of stabilizing a fluctuating economy. Many macroeconomic textbooks appeared in the 1960s which consequently identified business cycle theory with inquiries on the possibilities to stabilize economies by means of active fiscal or monetary policies.

Download or read book Classical Linear Control Analysis Applied to Business Cycle Dynamics and Stability written by National Aeronautics and Space Administration (NASA) and published by Createspace Independent Publishing Platform. This book was released on 2018-07-26 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Linear control analysis is applied as an aid in understanding the fluctuations of business cycles in the past, and to examine monetary policies that might improve stabilization. The analysis shows how different policies change the frequency and damping of the economic system dynamics, and how they modify the amplitude of the fluctuations that are caused by random disturbances. Examples are used to show how policy feedbacks and policy lags can be incorporated, and how different monetary strategies for stabilization can be analytically compared. Representative numerical results are used to illustrate the main points. Wingrove, R. C. Ames Research Center NASA-TM-84366, A-9357, NAS 1.15:84366 RTOP 505-44-21

Download or read book The Dynamics of Business Cycles written by Jan Tinbergen and published by . This book was released on 1950 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Monetary Policy Inflation and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book The Rediscovery of the Business Cycle written by Paul A. Volcker and published by New York : Free Press. This book was released on 1978 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Dynamics of Business Cycles A Study in Economic Fluctuations By Jan Tinbergen and J J Polak Based on Economische Bewegingsleer by J Tinbergen written by Jan Tinbergen and published by . This book was released on 1950 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dynamics of Business Cycles written by Jan Tinbergen and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Dynamics of Business Cycles written by Jan Tinbergen and published by . This book was released on 1950 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: