Essays on International Real Business Cycles and Exchange Rate Regimes PDF Download

Author: Yossi Yakhin
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 240

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Author: Nasser Saidi
Publisher: Routledge
ISBN: 1351804847
Category : Business & Economics
Languages : en
Pages : 205

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Originally published in 1982. This book deals with exchange-rate determination and the implications of floating rate regimes for the time paths of prices and quantities. It develops a class of stochastic equilibrium models of the open economy operating under flexible exchange rates, assuming that agents are endowed with rational expectations but do not possess full current information as to the state of the world. Chapters look at a model’s response to economic disturbances, the effect on non-traded goods, and cyclical variations of the terms of trade. The final chapter considers a model to investigate purchasing parity issues.

Author: Philip A. Klein
Publisher: Routledge
ISBN: 1315492288
Category : Business & Economics
Languages : en
Pages : 353

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This "Festschrift" honours Geoffrey H. Moore's life-long contribution to the study of business cycles. After some analysts had concluded that business cycles were dead, renewed economic turbulence in the 1970s and 1980s brought new life to the subject. The study of business cycles now encompasses the global economic system, and this work aims to push back the frontiers of knowledge.

Author: Philip A Klein
Publisher: Routledge
ISBN: 1351695576
Category : Business & Economics
Languages : en
Pages : 356

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This title was first published in 1990.

Author: Solomos Solomou
Publisher: Manchester University Press
ISBN: 9780719041518
Category : Business cycles
Languages : en
Pages : 150

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The ups and downs of booms and slumps, often referred to as business cycles, are features of all modern economies. This book considers business cycles over three epochs 1870-1913, 1919-1938 and the post-World War II period. It provides an analysis of the key macroeconomic questions relating to economic fluctuations. Why are the ups and down more volatile in some epochs than others? Why are some business cycle shocks more persistent in their effects? Is there an international business cycle? Can present business cycle features predict future patterns? What impact will institutional changes, such as EMU have on future fluctuations?

Author: Cosimo Pancaro
Publisher:
ISBN:
Category : Macroeconomics
Languages : en
Pages : 98

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Author: David P. Cobham
Publisher: Manchester University Press
ISBN: 9780719029493
Category : Balance of payments
Languages : en
Pages : 280

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This dissertation consists of three chapters about business cycles in open economies. The first chapter addresses the question of why housing investment is so volatile, especially in economies with developed mortgage markets. To this end, the chapter develops an augmented Real Business Cycle model with a housing collateral constraint. The collateral constraint creates a link between the housing market and borrowing capacity, a link that amplifies the response of housing demand to shocks and becomes stronger in economies with deeper mortgage markets. The second chapter examines an anomaly between international business cycle models and empirical evidence in cross-country employment correlation. It shows that the wealth effect on leisure plays a determining role in generating a negative employment comovement in the models, hence proposing a solution to the anomaly. The last chapter compares macroeconomic consequences of dollarized emerging countries under two alternative monetary policies: the inflation targeting rule and the fixed exchange rate regime. It shows that the floating exchange rate regime can be dominated by the fixed exchange rate regime in the role of cushioning shocks and in welfare terms.

Author: Marianne Baxter
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 80

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This paper investigates empirically the differences in time?series behavior of key economic aggregates under alternative exchange rate systems. We use a postwar sample of 49 countries to compare the behavior of output. consumption, trade flows, government consumption spending, and real exchange rates under alternative exchange rate systems (pegged, floating, and systems such as the EMS). We then examine evidence from two particular episodes, involving Canada and Ireland, of changes in the exchange rate system. Aside from greater variability of real exchange rates under flexible than under pegged nominal exchange rate systems, we find little evidence of systematic differences in the behavior of other macroeconomic aggregates or international trade flows under alternative exchange rate systems. These results are of interest because a large class of theoretical models implies that the nominal exchange rate system has important effects on a number of macroeconomic quantities.

Author: Gottfried Haberler
Publisher: Cambridge, Mass. : MIT Press
ISBN:
Category : Economics
Languages : en
Pages : 680

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Book Description
Gottfried Haberler's contributions to the field of international trade and finance began in the 1920s with a seminal paper on comparative costs. His continuing contributions to open economy analysis, development, business cycles and inflation, the theory of money, and rational expections are highlighted in this selection of 27 essays spanning the years 1925 to 1980. The essays are divided into five major sections, representing the subdisciplines of Haberler's most significant work. The first section on international trade contains his work on comparative costs, comparative advantage, and the location of production and international trade. A section on international finance deals with the state of the international monetary system under conditions of world recession, control over international reserve, U.S. balance-of-payments policy, currency depreciation and the terms of trade, and transfer and price movements. The topic of inflation and business cycles is covered in the third section, with essays on income policies, stagflation, and the Great Depression, and the international transmission of inflation. Section four deals with economic development, and the concluding section contains essays on the theory of money and general macroeconomic theory. Several articles are translated here for the first time and there is a complete bibliography of Haberler's work up to 1980. Gottfried Haberler is Professor Emeritus of Economics, Harvard University, and Resident Scholar at the American Enterprise Institute. Anthony Koo is Professor of Economics at Michigan State University.