Essays on the Effects of Business Cycles on Productivity in U.S. Manufacturing and Cyclical Vs. Structural Determinants of Output Recovery in Poland PDF Download

Author: Domenico Junior Marchetti
Publisher:
ISBN:
Category :
Languages : en
Pages : 178

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Author: Domenico Marchetti
Publisher: Taylor & Francis
ISBN: 9780815327226
Category : Business & Economics
Languages : en
Pages : 108

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Three essays on the ways in which business cycles affect productivity review and criticize previous research, propose an dynamic model using gross output data, and provide a decomposition of industrial productivity growth in Polish manufacturing 1992-93 indicating the importance of structural effects. Annotation copyrighted by Book News, Inc., Portland, OR

Author: Miguel Jimenez
Publisher: Routledge
ISBN: 1317512103
Category : Business & Economics
Languages : en
Pages : 113

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This book presents several pieces of empirical work which disentangle why the standard measure of productivity growth used in macroeconomics turn out to be procyclical for American manufacturing industries. Procyclical productivity is an essential feature of business cycles because of its important implications for macroeconomic modelling. The author explains why traditional Keynesian theories of the business cycle do not explain satisfactorily why productivity is procyclical, and argues that the force of technology for generating economic cycles is much more important than that of the management or mismanagement of monetary or fiscal policies. This book is aimed at those working in empirical macroeconomics but also industrial economics.

Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 644

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 730

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Author: Ms.Valerie Cerra
Publisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50

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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.

Author: Mark J. Lasky
Publisher: Garland Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 200

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Author: Sumon Bhaumik
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 99

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Author: Susanto Basu
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 56

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This paper presents an aggregate demand-driven model of business cycles that provides a new explanation for the procyclicality of productivity, and simultaneously predicts large welfare losses from monetary non-neutrality. The key features of the model are an input- output production structure, imperfect competition, countercyclical markups, and, for some results, state- dependent price rigidity. True technical efficiency is procyclical even though production takes place with constant returns, without technology shocks or technological externalities. The paper has observable implications that distinguish it empirically from related work. These implications are generally supported by data from U.S. manufacturing industries.

Author: Gilles Saint-Paul
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 56

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