Hysteresis and Business Cycles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Hysteresis and Business Cycles write by Ms.Valerie Cerra. This book was released on 2020-05-29. Hysteresis and Business Cycles available in PDF, EPUB and Kindle. 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.
Business Cycles and Financial Crises
Business Cycles and Financial Crises - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Business Cycles and Financial Crises write by A. W. Mullineux. This book was released on 1990. Business Cycles and Financial Crises available in PDF, EPUB and Kindle.
Economic Cycles
Economic Cycles - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Economic Cycles write by Solomos Solomou. This book was released on 1998. Economic Cycles available in PDF, EPUB and Kindle. 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?
Hysteresis in Unemployment and Jobless Recoveries
Hysteresis in Unemployment and Jobless Recoveries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Hysteresis in Unemployment and Jobless Recoveries write by Dmitry Plotnikov. This book was released on 2014-05-06. Hysteresis in Unemployment and Jobless Recoveries available in PDF, EPUB and Kindle. This paper develops and estimates a general equilibrium rational expectations model with search and multiple equilibria where aggregate shocks have a permanent effect on the unemployment rate. If agents' wealth decreases, the unemployment rate increases for a potentially indefinite period. This makes unemployment rate dynamics path dependent as in Blanchard and Summers (1987). I argue that this feature explains the persistence of the unemployment rate in the U.S. after the Great Recession and over the entire postwar period.
NBER Macroeconomics Annual 1986
NBER Macroeconomics Annual 1986 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook NBER Macroeconomics Annual 1986 write by . This book was released on 1986. NBER Macroeconomics Annual 1986 available in PDF, EPUB and Kindle.
