Download or read book Induced Investment and Business Cycles written by Hyman P. Minsky and published by Edward Elgar Publishing. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume presents, for the first time in publication, the original Ph.D. thesis of Hyman P. Minsky, one of the most innovative thinkers on financial markets. Dimitri B. Papadimitriou's introduction places the thesis in a modern context, and explains its relevance today. The thesis explores the relationship between induced investment, the constraints of financing investment, market structure, and the determinants of aggregate demand and business cycle performance. Forming the basis of his subsequent development of financial Keynesianism and his 'Wall Street' paradigm, Hyman Minsky investigates the relevance of the accelerator-multiplier models of investment to individual firm behaviour in undertaking investment dependent on cost structure. Uncertainty, the coexistence of other market structures, and the behaviour of the monetary system are also explored. In assessing the assumptions underlying the structure and coefficient values of the accelerator models frequently used, the book addresses their limitations and inapplicability to real world situations where the effect of financing conditions on the balance sheet structures of individual firms plays a crucial and determining role for further investment. Finally, Hyman Minsky discusses his findings on business cycle theory and economic policy. This book will greatly appeal to advanced undergraduate and graduate students in economics, as well as to policymakers and researchers. In addition, it will prove to be valuable supplementary reading for those with an interest in advanced microeconomics.
Download or read book Induced Investment and Business Cycles written by Hyman Philip Minsky and published by . This book was released on 1954 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Minsky s Induced Investment and Business Cycles written by Jan Toporowski and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the recently published PhD thesis of Hyman P. Minsky, summarising its main contributions to methodology and microeconomics. These are aspects of economics with which Minsky is not usually associated, but which lie at the foundation of his later work. They include critical remarks on Cambridge economics. The paper then draws out some antecedents of Minsky's ideas in the work of Henry Simons, and highlights the Marshallian monetary analysis that he adopted. It is argued that this analysis is incompatible with the Kaleckian theory of profits that Minsky was later to adopt.
Download or read book Business Cycles and Forecasting written by Elmer Clark Bratt and published by . This book was released on 1961 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Cycles and National Income written by Alvin Harvey Hansen and published by . This book was released on 1951 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Cycles Part I written by F. A. Hayek and published by University of Chicago Press. This book was released on 2012-01-27 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The two Business Cycles volumes bring together” the Nobel Laureate economist’s “most substantial contributions to technical economics” (Roger W. Garrison, Auburn University). In the years following its publication, F. A. Hayek’s pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over the monetary origins of the current economic and financial crisis, economists are once again paying heed to Hayek’s thoughts on the repercussions of excessive central bank interventions. The latest editions in the University of Chicago Press’s ongoing series The Collected Works of F. A. Hayek, these volumes bring together Hayek’s work on what causes periods of boom and bust in the economy. Moving away from the classical emphasis on equilibrium, Hayek demonstrates that business cycles are generated by the adaptation of the structure of production to changes in relative demand. Thus, when central banks artificially lower interest rates, the result is a misallocation of capital and the creation of asset bubbles and additional instability. Business Cycles, Part I contains Hayek’s two major monographs on the topic: Monetary Theory and the Trade Cycle and Prices and Production. Reproducing the text of the original 1933 translation of the former, this edition also draws on the original German, as well as more recent translations. For Prices and Production, a variorum edition is presented, incorporating the 1931 first edition and its 1935 revision. Business Cycles, Part II assembles a series of Hayek’s shorter papers on the topic. The two volumes of Business Cycles also include extensive introductions by Hansjoerg Klausinger, providing background on the evolution of Hayek’s thought.
Download or read book Business Cycles in the Contemporary World written by Bernd Süssmuth and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a thorough and sophisticated descriptive analysis of business cycles in a historical perspective. The study is based on the latest available time series as well as latest techniques from the frequency domain. A combined univariate and bivariate analysis is conducted on the national as well as supranational (G7- and Euro-Area wide) level. Issues of stability, volatility, and cyclicality are investigated jointly. An extensive analysis of US manufacturing investment series on the fairly disaggregated four-digit level highlights the limits of linear models to capture the sectoral aggregation process. Synchronization is modelled by a mode-locking mechanism of industrial investment cycles induced by informational externalities. The model in its stochastic version is numerically simulated to assess an agreement between model and data.
Download or read book Investment Confidence and Business Cycles written by Ian Boyd and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book and a brief description of its con tents appear in chapter I. The purpose of this preface is to express our thanks to various people and organizations. Professor Peter Groenewegen of Sydney University and Dr. Michael Krueger of the University of Massachusetts at Amherst have both been extremely helpful in reading the ma terial and proffering many valuable suggestions. We also wish to thank an anonymous referee for Springer Verlag, for his critical reading and comments. Naturally, we take full responsibility for whatever errors and shortcomings remain. OUr thanks go to Haifa University, particularly the mem bers of the Haifa University Computation Center, for their patience and help in the preparation of the manuscript and production of camera copy. It is a pleasure to acknowledge the assistance of various members of staff of the University of New South Wales, and in particular those at the computer facility within the School of Mathematics. Ian Boyd, Sydney, Austral ia John Blatt, Haifa, Israel. Table of Contents Preface . . . . . . . . . . . . . . . . . . . . . . . . v CHAPTER 1. INTRODUCTION AND BRIEF SUMMARY. . . . . . 1 THE TRADE CYCLE. 7 CHAPTER 11. A BRIEF HISTORICAL SURVEY OF Section A: Why the nineteenth century? • • • • • • • • • 7 Section B: Classification of Cycles. • • •• 10 11 Section C: The Crash of 1873. ••• •• Section D: Asymmetry between Rise and Fall. •• 15 Section E: The Speed of the Crash. 17 · . . . .
Download or read book Business Cycles and Economic Growth written by James Stemble Duesenberry and published by New York : McGraw-Hill. This book was released on 1958 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Cycles written by Victor Zarnowitz and published by University of Chicago Press. This book was released on 2007-11-01 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents the most complete collection available of the work of Victor Zarnowitz, a leader in the study of business cycles, growth, inflation, and forecasting.. With characteristic insight, Zarnowitz examines theories of the business cycle, including Keynesian and monetary theories and more recent rational expectation and real business cycle theories. He also measures trends and cycles in economic activity; evaluates the performance of leading indicators and their composite measures; surveys forecasting tools and performance of business and academic economists; discusses historical changes in the nature and sources of business cycles; and analyzes how successfully forecasting firms and economists predict such key economic variables as interest rates and inflation.
Download or read book The Economics of Cycles and Growth written by Stanley Bober and published by . This book was released on 1968 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Textbook on business cycles and economic growth in aggregate economics - analyses economic models and economic theories, covers the characteristics of change, the anatomy of the cycle, consumption expenditures and investment expenditures, etc., and includes models of steady growth. Diagrams and references.
Download or read book Investment and Business Cycles written by James Waterhouse Angell and published by . This book was released on 1941 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Policy and Business Cycles written by Alvin Harvey Hansen and published by . This book was released on 1941 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Growth and Instability written by Daniel Hamberg and published by Praeger. This book was released on 1978 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hamberg examines the contemporary literatire dealing with economic growth and the theories it involves.
Download or read book Economics of Growth written by Jamshed Kaikhusroo Mehta and published by . This book was released on 1970 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Cycles written by Daniel Hamberg and published by . This book was released on 1951 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt:
