Author: Klaus Schmidt-HebbelPublisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 0
Book Description
Dynamic Response to External Shocks in Classical and Keynesian Economics
Author: Klaus Schmidt-HebbelPublisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 0
Book Description
Dynamic response to external shocks in classical and Keynesian
Author: Klaus Schmidt HebbelPublisher:
ISBN:
Category : Estabilizacion del mercado
Languages : en
Pages : 58
Book Description
Dynamic Response to External Shocks in Classical and Keynesian Economies
Author: Klaus Schmidt-HebbelExternal Shocks in Classical and Keynesian Economies
Author: Klaus Schmidt-HebbelPublisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 64
Book Description
External Shocks in Classical and Keynesian Economies
Author: Klaus Schmidt-HebbelPublisher: World Bank Publications
ISBN:
Category : Balance of payments
Languages : en
Pages : 72
Book Description
Transitory and permanent shocks may have opposite effects on the current account. In particular, an increase in foreign transfers or a terms- of- trade windfall, if permanent, can result in a current account deficit. But if temporary, they cause a surplus. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
Fiscal Policy in Classical and Keynesian Open Economies
Author: Klaus Schmidt-HebbelPublisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 52
Book Description
A History of Macroeconomics from Keynes to Lucas and Beyond
Author: Michel De VroeyPublisher: Cambridge University Press
ISBN: 0521898439
Category : Business & Economics
Languages : en
Pages : 451
Book Description
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Dynamic Response to Foreign Transfers and Terms-of-trade Shocks in Open Economies
Author: Klaus Schmidt-HebbelPublisher: World Bank Publications
ISBN:
Category : Comercio internacional
Languages : en
Pages : 52
Book Description
Both permanent and transitory disturbances can change long- run capacity and output -- although they may have opposite effects on the current account. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
North-South Linkages and International Macroeconomic Policy
Author: David VinesPublisher: Cambridge University Press
ISBN: 9780521462341
Category : Business & Economics
Languages : en
Pages : 436
Book Description
Researchers have begun to apply economic techniques initially developed to analyse the industrialised countries to analyse North-South interactions in the world economy. This volume, derived from a CEPR conference, brings together theoretical and empirical papers on fiscal, monetary and trade linkages between the North and South. The papers use the advances in the use of the major macroeconomic models to simulate global and inter-regional interactions, and to analyse the implications for the South of macroeconomic developments in the North. They also examine international policy questions in a genuinely global context, and consider the design of policy packages for the Third World (aid versus trade, growth-oriented adjustment) in an empirical context. This volume provides a useful overview of the flourishing research area relating to interactions between North and South, and highlights areas where future research is needed.
Hysteresis and Business Cycles
Author: Ms.Valerie CerraPublisher: International Monetary Fund
ISBN: 1513536990
Category : Business & Economics
Languages : en
Pages : 50
Book Description
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.