Business Cycles PDF Download

Author: Francis X. Diebold
Publisher: Princeton University Press
ISBN: 9780691012186
Category : Business & Economics
Languages : en
Pages : 442

View

Book Description
Table of Contents

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

View

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.

Author: Robert Shimer
Publisher: Princeton University Press
ISBN: 1400835232
Category : Business & Economics
Languages : en
Pages : 189

View

Book Description
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. Developing detailed search and matching models, Labor Markets and Business Cycles will be the main reference for those interested in the intersection of labor market dynamics and business cycle research.

Author: Mr.Ayhan Kose
Publisher: International Monetary Fund
ISBN: 1451870019
Category : Business & Economics
Languages : en
Pages : 51

View

Book Description
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.

Author: Hyungdo Ahn
Publisher: KIEP
ISBN:
Category : Business cycles
Languages : en
Pages : 76

View

Book Description

Author: Mr.Romain A Duval
Publisher: International Monetary Fund
ISBN: 1475523599
Category : Business & Economics
Languages : en
Pages : 46

View

Book Description
This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country-pair heterogeneity—that is absent when gross trade data are used. That effect is bigger in crisis times, pointing to trade as an important crisis propagation mechanism. Bilateral intra-industry trade and trade specialization correlation also appear to increase co-movement, indicating that not only the intensity but also the type of trade matters. Finally, we show that dependence on Chinese final demand in value-added terms amplifies the international spillovers and synchronizing impact of growth shocks in China.

Author: Soyoung Kim
Publisher: 대외경제정책연구원
ISBN:
Category : Business cycles
Languages : en
Pages : 80

View

Book Description

Author: Harukiyo Hasegawa
Publisher: Red Globe Press
ISBN: 9780230367388
Category : Business & Economics
Languages : en
Pages : 388

View

Book Description
The second edition of this core textbook, edited and contributed to by recognised international authorities on the subject, outlines the critical contextual and theoretical issues of business and management in Asia and offers a fresh, topical analysis of management in the major Asian nations. Featuring an accessible two-part structure and updated with the latest research, the book will enable students to assess Asian management systems and the strategies adopted by corporations and governments. The text’s thought-provoking teaching and learning tools guide students through a number of the key issues in the field, including globalization, regionalism, corporate social responsibility, ethics and sustainability. This is an ideal textbook for upper-level undergraduates and MBA/MA students studying modules in Asian Business and Management. In addition, it is an essential text for managers and executives seeking a more realistic understanding of business and management in Asia as an evolving adaptive system.

Author: Benno Ferrarini
Publisher: Edward Elgar Publishing
ISBN: 178347209X
Category : Business & Economics
Languages : en
Pages : 393

View

Book Description
This timely book deploys new tools and measures to understand how global production networks change the nature of global economic interdependence, and how that in turn changes our understanding of which policies are appropriate in this new environment.

Author: Vincent Barnett
Publisher: Springer
ISBN: 1349263273
Category : History
Languages : en
Pages : 262

View

Book Description
Barnett presents the first in-depth analysis in English of the pioneer of long cycle analysis, N.D. Kondratiev (1892-1938), who was a key policy adviser to the Soviet government in the early part of the 1920s. Kondratiev developed a market-led industrialization strategy for the USSR, in direct opposition to Stalin's centrally-planned industrialization programme, and was the director of the Conjuncture Institute, a centre for the study of business cycles and forecasting between 1920 and 1928. It was within the Conjuncture Institute that Kondratiev developed his analysis of long cycles. Barnett covers all aspects of Kondratiev's work.