Download or read book Macroeconomic Dynamics written by Bernard J. F. Lonergan and published by University of Toronto Press. This book was released on 1988-01-01 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic Dynamics represents the economic thought of Lonergan at the end of his career. His analysis breaks from centralist theory and practice towards a radically democratic perspective on surplus income and non-political control, and explores more fully the ideas introduced in For a New Political Economy.

Download or read book Essays in Economic Dynamics written by R.M. Goodwin and published by Springer. This book was released on 1982-07-15 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on macroeconomic dynamics written by Pedro Pablo Álvarez Lois and published by . This book was released on 2001 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Macroeconomic Dynamics written by Stephen McKnight and published by . This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in Macroeconomic Dynamics written by Hammad Qureshi and published by . This book was released on 2009 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This dissertation examines theoretical and empirical topics in macroeconomic dynamics. A central issue in macroeconomic dynamics is understanding the sources of business cycle fluctuations. The idea that expectations about future economic fundamentals can drive business cycles dates back to the early twentieth century. However, the standard real business cycle (RBC) model fails to generate positive comovement in output, consumption, labor-hours and investment in response to news shocks. My dissertation proposes a solution to this puzzling feature of the RBC model by developing a theoretical model that can generate positive aggregate and sectoral comovement in response to news shocks. Another key issue in macroeconomic dynamics is gauging the performance of theoretical models by comparing them to empirical models. Some of the most widely used empirical models in macroeconomics are level vector autoregressive (VAR) models. However, estimated level VAR models may contain explosive roots, which is at odds with the widespread consensus among macroeconomists that roots are at most unity. My dissertation investigates the frequency of explosive roots in estimated level VAR models using Monte Carlo simulations. Additionally, it proposes a way to mitigate explosive roots. Finally, as macroeconomic datasets are relatively short, empirical models such as autoregressive models (i.e. AR or VAR models) may have substantial small-sample bias. My dissertation develops a procedure that numerically corrects the bias in the roots of AR models. This dissertation consists of three essays. The first essay develops a model based on learning-by-doing (LBD) that can generate positive comovement in output, consumption, labor-hours and investment in response to news shocks. I show that the one-sector RBC model augmented by LBD can generate aggregate comovement in response to news shock about technology. Furthermore, I show that in the two-sector RBC model, LBD along with an intratemporal adjustment cost can generate sectoral comovement in response to news about three types of shocks: i) neutral technology shocks, ii) consumption technology shocks, and iii) investment technology shocks. I show that these results hold for contemporaneous technology shocks and for different specifications of LBD. The second essay investigates the frequency of explosive roots in estimated level VAR models in the presence of stationary and nonstationary variables. Monte Carlo simulations based on datasets from the macroeconomic literature reveal that the frequency of explosive roots exceeds 40% in the presence of unit roots. Even when all the variables are stationary, the frequency of explosive roots is substantial. Furthermore, explosion increases significantly, to as much as 100% when the estimated level VAR coefficients are corrected for small-sample bias. These results suggest that researchers estimating level VAR models on macroeconomic datasets encounter explosive roots, a phenomenon that is contrary to common macroeconomic belief, with a very high frequency. Monte Carlo simulations reveal that imposing unit roots in the estimation can substantially reduce the frequency of explosion. Hence one way to mitigate explosive roots is to estimate vector error correction models. The third essay proposes a numerical procedure to correct the small-sample bias in autoregressive roots of univariate AR(p) models. I examine the median-bias properties and variability of the bias-adjusted parameters relative to the least-squares estimates. I show that the bias correction procedure substantially reduces the median-bias in impulse response functions. Furthermore, correcting the bias in roots significantly improves the median-bias in half-life, quarter-life and up-life estimates. The procedure pays a negligible-to-small price in terms of increased standard deviation for its improved median-bias properties.

Download or read book Essays in Open Macroeconomic Dynamics written by Jingxian Hu and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Macroeconomic Dynamics written by Jesús Fernández-Villaverde Sánchez and published by . This book was released on 2001 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Firm Heterogeneity and Macroeconomic Dynamics written by Roberto Naim Jorge Fattal Jaef and published by . This book was released on 2011 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Nonlinear Macroeconomic Dynamics written by Luigi Bocola and published by . This book was released on 2014 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Macroeconomic Dynamics an Essay in Circulation Analysis written by Bernard Lonergan and published by . This book was released on 1999 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Macroeconomic Dynamics written by David R. Munro and published by . This book was released on 2016 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: The motivation of my dissertation research has been to develop a better understanding of the mechanisms behind business cycle fluctuations in employment and firm dynamics. I have an interest in these issues not only because I find business cycle phenomena interesting, but because it is crucial in designing economic policies that can help mitigate the severity of recessions. To answer these questions my dissertation research has focused on outcomes and behavior at the individual and firm level.

Download or read book Essays on Financial Frictions and Macroeconomic Dynamics written by Juan Pablo Medina Guzman and published by . This book was released on 2004 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Macroeconomic Dynamics written by Mallory Yeromonahos and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Heterogeneity and Macroeconomic Dynamics written by Giacomo Caracciolo and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Macroeconomic Dynamics Credit Intermediation and Financial Stability written by Umang Rawat and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Macroeconomic Dynamics in the Medium Term written by Jean-Paul K. Tsasa and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Uncertainty and Macroeconomic Dynamics written by Jeffrey A. Levy and published by . This book was released on 2021 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation I examine economic uncertainty, particularly from the perspective of disaggregation below the national level. In part one I outline the building of news-based uncertainty measures for all 50 US states plus Washington DC. I analyze different search specifications, finding that the simplest set of terms involving one group for "economy" and one group for "uncertainty" has the highest resolution, while yielding similar results to more focused news searches, including one similar to the ubiquitous policy search from Baker et al. (2016), and an alternative specification designed to eliminate false positives. I also explore the differences between two other national uncertainty measures - the VIX stock market volatility index from the Chicago Board Options Exchange, and the unforecastable macroeconomic factors from Jurado et al. (2015). In part two, I build upon the analysis of the state uncertainty measures begun in part one. I show that analyzing uncertainty at the national level obscures significant state-level variation, with state-to-national uncertainty correlations ranging from 0.124 to 0.913, while some inter-state uncertainty correlations even turn negative. I then show that VAR analysis using state-level unemployment figures yields impulse response functions that are remarkably similar to existing national-level uncertainty research, with 92% of states exhibiting a rise in unemployment that peaks near 12 months after an uncertainty shock, then overshoots the starting point for a time. Finally, in part three I attempt to get at the causal effects of an uncertainty shock, as VAR analysis is unable to do, by applying a difference-in-difference framework to the natural experiment of military base closures. I look at the 1991, 1993, 1995, and 2005 rounds of the Base Realignment and Closure (BRAC) process, whereby the government moves military jobs in and out of bases through a process that is, at least initially, heavily insulated from confounding economic indicators and political influence. This creates asymmetric and exogenous uncertainty shocks in places with different military employment, which I use to show that a one-percentage point higher military share of employment causes a tenth of a percentage point higher unemployment rate in a given Metropolitan Statistical Area (MSA) during a BRAC round.