Business cycle scenario
Author | : Jay Kloepfer |
Publisher | : |
Total Pages | : 248 |
Release | : 1994 |
Genre | : Air |
ISBN | : |
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Author | : Jay Kloepfer |
Publisher | : |
Total Pages | : 248 |
Release | : 1994 |
Genre | : Air |
ISBN | : |
Author | : Carl Chiarella |
Publisher | : Cambridge University Press |
Total Pages | : 572 |
Release | : 2005-10-27 |
Genre | : Business & Economics |
ISBN | : 9781139448215 |
Building on The Dynamics of Keynesian Monetary Growth by Chiarella and Flaschel (2000), this book is a key contribution to business cycle theory, setting out a disequilibrium approach with gradual adjustments of the key macroeconomic variables. Its analytic study of a deterministic model of economic activity, inflation and income distribution integrates elements in the tradition of Keynes, Metzler and Goodwin (KMG). After a qualitative analysis of the basic feedback mechanisms, the authors calibrate the KMG model to the stylized facts of the business cycle in the U.S. economy, and then undertake a detailed numerical investigation of the local and global dynamics generated by the model. Finally, topical issues in monetary policy are studied in small macromodels as well as for the KMG model by incorporating an estimated Taylor-type interest rate reaction function. The stability features of this enhanced model are also compared to those of the original KMG model.
Author | : Jean-Olivier Hairault |
Publisher | : Springer Science & Business Media |
Total Pages | : 355 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 1461561736 |
Setting the issue "Most economists consider the marked increase in automatic stabilizers a highly favorable development with respect to maintenance of economic stability". Besides the rare privilege of having being signed by both Milton Friedman and Paul Samuelson (Depres,Friedman, Hart, Samuelson, and Wallace [1950]), among others, this sentence expressed as soon as 1950 the consensus view on the stabilizing effect of fiscal rules governing tax revenue and public expendi tures and transfers. This positive ex ante assessment will have been confirmed ex post as part of the explanation for post war stabilization (Burns [1960], de Long and Summers [1986], Moore and Zarnovitz [1986]). However, it becomes disputed in both its positive and normative aspects. Many institutional changes since the eighties point at curbing back the transfer mechanisms underlying automatic stabilizers, and legal restraints on deficits such as the US balanced budget amendment or the European Maastricht criteria would involve serious risks for the future of stabilizers. Under such rules "the government would become, almost inevitally, a destabilizer rather than a stabilizer" said Joseph Stiglitz, quoted by the New York Times (April 1995)). "Built-in stabilizers are automatic fiscal adjustments that reduce the national income multiplier and thus cushion the effects of changes in autonomous spend ing on the level of income" (Pechman [1987]). Early analyses of the automatic fiscal stabilizers include the contributions of A. G. Hart [1945], R. Musgrave and M. Miller (1948) and E. C. Brown (1955).
Author | : |
Publisher | : |
Total Pages | : 32 |
Release | : 1984 |
Genre | : Dollar, American |
ISBN | : |
Author | : Tyler Cowen |
Publisher | : Routledge |
Total Pages | : 182 |
Release | : 2002-09-26 |
Genre | : Business & Economics |
ISBN | : 1134701519 |
In this book the author argues the case for the revival of an important role for monetary causes in business cycle theory, which challenges the current trend towards favouring purely real theories.
Author | : Matthew J. Kotchen |
Publisher | : University of Chicago Press |
Total Pages | : 275 |
Release | : 2022-01-24 |
Genre | : Business & Economics |
ISBN | : 0226821749 |
This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.
Author | : Nicolas Petit |
Publisher | : Oxford University Press, USA |
Total Pages | : 304 |
Release | : 2020-07 |
Genre | : Business & Economics |
ISBN | : 9780198837701 |
This book asks a simple question: are the tech giants monopolies? In the current environment of suspicion towards the major technology companies as a result of concerns about their power and influence, it has become commonplace to talk of Google, Facebook, Amazon, Apple, Microsoft, or Netflix as the modern day version of the 19th century trusts. In turn, the tech giants are vilified for a whole range of monopoly harms towards consumers, workers and even the democratic process. In the US and the EU, antitrust, and regulatory reform is on the way. Using economics, business and management science as well legal reasoning, this book offers a new perspective on big tech. It builds a theory of "moligopoly". The theory advances that the tech giants, or at least some of them, coexist both as monopolies and oligopoly firms that compete against each other in an environment of substantial uncertainty and economic dynamism. With this, the book assesses ongoing antitrust and regulatory policy efforts. It demonstrates that it is counterproductive to pursue policies that introduce more rivalry in moligopoly markets subject to technological discontinuities. And that non-economic harms like privacy violations, fake news, or hate speech are difficult issues that belong to the realm of regulation, not antimonopoly remediation.
Author | : A. Martelli |
Publisher | : Springer |
Total Pages | : 509 |
Release | : 2014-10-01 |
Genre | : Business & Economics |
ISBN | : 1137293500 |
Models of Scenario Building and Planning offers a unique and innovative exploration of the scenario approach. The book focuses on the analysis of the competitors' behavior; the analysis of risk and uncertainty; and the link between scenarios and strategies.
Author | : Willi Semmler |
Publisher | : Springer Science & Business Media |
Total Pages | : 404 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9401113645 |
In macrodynamics and business cycle analysis we find nowadays a variety of approaches elaborating frameworks for studying the fluctuations in economic and financial data. These approaches are viewed from Keynesian, monetarist and rational expectations standpoints. There are now also numerous empirical methods for the testing of nonlinear data generating mechanisms. This volume brings together a selection of contributions on theories of the business cycle and new empirical methods and synopsizes the new results. The volume (i) gives an overview of current models and modern concepts and tools for analyzing the business cycle; (ii) demonstrates, where possible, the relation of those models to the history of business cycle analysis; and (iii) presents current work, surveys and original work, on new empirical methods of studying cycle generating mechanisms.