Business Cycle Theory

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  • p 01-01-1970   Download

  • My interest in business cycles was rekindled by Professor Jim Ford, my mentor during the first part of my career at the University of Birmingham. Since completing my PhD on business cycles in 1983, my lecturing and research had focussed on money, banking and finance. Jim introduced me to Shackle’s much neglected work on business cycles, which is discussed in Chapter 4 and emphasises the key role bank lending decisions play in the propogation of business cycles.

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  • Bài giảng "Kinh tế vĩ mô - Chapter 19: Advances in Business Cycle Theory" cung cấp cho người học các kiến thức: An overview of recent work in two areas, real business cycle theory, new keynesian economics. Mời các bạn cùng tham khảo nội dung chi tiết.

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  • This book grew out of my lecture notes for a graduate course in in- ternational macroeconomics and Þnance that I teach at the Ohio State University. The book is targeted towards second year graduate stu- dents in a Ph.D. program. The material is accessible to those who have completed core courses in statistics, econometrics, and macroeconomic theory typically taken in the Þrst year of graduate study.

    pdf376p vigro23 24-08-2012 55 25   Download

  • Chapter 6 - Understanding business cycles. This chapter describe the business cycle and its phases; describe the typical patterns of resource use fluctuation, housing sector activity, and external trade sector activity, as an economy moves through the business cycle; describe theories of the business cycle;...

    ppt22p allbymyself_10 03-03-2016 13 1   Download

  • p 01-01-1970   Download

  • C H A P T E R T W E N T Y - O N E Interwar Monetary and Business Cycle Theory: Macroeconomics before Keynes According to Francis X. Diebold, “A striking and easily forgotten fact is that, before Keynes and Klein, there really was no macroeconomics” . But the rich and varied traditions of monetary and business cycle theory forming the context

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  • Frank: According to this economist, Ernie, it’s all very simple. In an endogenous business cycle where variable-span diffusion indices are neither rising nor falling and the capital-to-output ratio is low, then the interplay of liquidity preferences and reserve ratios escalates and interest rates rise, causing the yield ratio to drop on common stocks.

    ppt62p mientrung102 29-01-2013 18 3   Download

  • The publication date of Business Cycles proved singularly unfor- tunate. Had it appeared three years before Keynes's General Theory sent economists scurrying off in other directions instead of three years' afterwards, it would have gained from the enormous interest everyone had in business cycles in 1933 and might have been accorded a recep- tion second only to that later received by the General Theory itself. 5 Instead, it appeared just as the outbreak of World War II raised eco- nomic problems to which Keynes's tools, but not Schumpeter's, could be readily adapted.

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  • Chapter 1 - Demand and supply analysis: Introduction. The focus of the reading is on demand and supply analysis (microeconomics): How are prices and quantities of transactions determined? The theory of the consumer deals with how consumers make choices, and the theory of the firm is how profit-maximizing firms make choices.

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  • Models begin with many simplifications (e.g., assumptions), but then we evaluate the model by comparing the implications of the model with what we observe in the real world. After studying this chapter you will be able to understand: Why show this? Because some who read about consumer theory may be concerned about the unrealistic nature of the models and thus may get too involved in how unrealistic the model is. The focus should be on understanding consumer choice theory and then examining what happens if more realism is introduced.

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  • Chapter 7 - Monetary and fiscal policy. This chapter compare monetary and fiscal policy, compare monetary and fiscal policy, explain the money creation process, describe functions and definitions of money, describe theories of the demand for and supply of money, describe the roles and objectives of central banks,...

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  • p 01-01-1970   Download

  • Chapter 36 - Current issues in macro theory and policy. In this chapter, you will learn to: Describe alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarists, real-business-cycle advocates, and proponents of coordination failures; explain what the equation of exchange is and how it relates to "monetarism"; discuss why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks;...

    ppt16p tangtuy08 21-04-2016 5 1   Download

  • Standard economic theory argues that international private capital flows will make a major contribution to development to the extent that they will flow from capital-abundant industrialized countries to capital-scarce developing countries, and help to smooth spending throughout the business cycle in capital-recipient countries. In recent years, reality has contradicted both aspects of this standard theory. For the last seven years, developing countries have transferred large amount of resources to developed countries.

    pdf36p thuytinh_den 11-07-2010 71 6   Download

  • The first-order effects of relaxed bank entry restrictions have been favorable, both within the U.S. and across countries. Internationally, the benefits of foreign entry seem to depend on the level of development, but at least for developing nations entrants are more efficient than incumbent banks and the stiffer competition seems to improve overall bank efficiency. In contrast to these first-order effects, the stability implications of increased entry are less obvious.

    pdf34p enterroi 02-02-2013 28 2   Download

  • My second concern was to retain a full account of the interpreta- tion of the cyclical history of one country, in preference to partial ac- counts of the three countries that Schumpeter discussed at length. The nature of the theory, which includes a Kondratieff cycle sixty years in duration, calls for a long sweep of history. That the country chosen should be the United States rather than England or Germany reflects more than the national origins of editor and publisher.

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  • Macroeconomic Principles (3-4 semester credits) Students address classical models of macroeconomic thought in assessing the economy as a whole and the critical factors impacting economic problems. Topics evaluate the works of economists such as John Maynard Keynes and others and investigate how overall levels of employment, production and growth are determined in an economy and of how interactions among nations influence activity worldwide.

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  • Any change in the growth rate of the economy will have a great influence on the level of economic activity and per capita real GDP in the future. Public policies can be designed that enhance the determinants of economic growth identified in this chapter. By increasing the rate of economic growth, we can improve our own future standard of living.

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