Financial Dynamics and Business Cycles
Title | Financial Dynamics and Business Cycles PDF eBook |
Author | Willi Semmler |
Publisher | Routledge |
Pages | 274 |
Release | 2019-08-08 |
Genre | Business & Economics |
ISBN | 1315288796 |
As the 55th anniversary of the bank holiday of March 1933 approached, financial instability was a main topic in the financial press. Daily reports appeared of international debt crises, of the covert bankruptcy of deposit insurance, and of the near bankruptcy of one great financial institution after another. The great stock market crash of October 19 and 20, 1987, demonstrated that extreme instability can happen. It is generally asserted that the consequences of October 19th and 20th would have been disastrous if the Federal Reserve and Treasury interventions had not set things right. In 1933, financial markets in the United States and throughout the capitalist world collapsed. In the light of historical experience, the past 55 years are the anomaly. The papers collected in this volume come from various backgrounds and research paradigms. A common theme runs through these papers that makes the collection both interesting and important: The authors take seriously the obvious evidence that capitalist economies progress through time by lurching. Whether a particular study starts from household utility maximization or from the processes by which productive structures are reproduced and expanded, the authors are united in accepting the evidence that financial instability is a significant characteristic of modern capitalism.
Business Cycles and Financial Crises
Title | Business Cycles and Financial Crises PDF eBook |
Author | A. W. Mullineux |
Publisher | Bookboon |
Pages | 146 |
Release | 1990 |
Genre | Business cycles |
ISBN | 8776818853 |
Business Cycles
Title | Business Cycles PDF eBook |
Author | Francis X. Diebold |
Publisher | Princeton University Press |
Pages | 442 |
Release | 1999-04-12 |
Genre | Business & Economics |
ISBN | 9780691012186 |
Table of Contents
Business Cycle Dynamics
Title | Business Cycle Dynamics PDF eBook |
Author | Iryna Sushko |
Publisher | Springer Science & Business Media |
Pages | 336 |
Release | 2006-08-13 |
Genre | Business & Economics |
ISBN | 3540321683 |
Business cycle theory has been one of the fastest growing fields in modern nonlinear economic dynamics. This book presents new mathematical methods for global analysis which have not previously been available in this easily accessible form. In addition it contains a presentation of full analyses of several models left open in the 1950s when the tools then available did not permit more systematic analysis.
Business Cycles
Title | Business Cycles PDF eBook |
Author | Francis X. Diebold |
Publisher | Princeton University Press |
Pages | 438 |
Release | 2020-10-06 |
Genre | Business & Economics |
ISBN | 0691219583 |
This is the most sophisticated and up-to-date econometric analysis of business cycles now available. Francis Diebold and Glenn Rudebusch have long been acknowledged as leading experts on business cycles. And here they present a highly integrative collection of their most important essays on the subject, along with a detailed introduction that draws together the book's principal themes and findings. Diebold and Rudebusch use the latest quantitative methods to address five principal questions about the measurement, modeling, and forecasting of business cycles. They ask whether business cycles have become more moderate in the postwar period, concluding that recessions have, in fact, been shorter and shallower. They consider whether economic expansions and contractions tend to die of "old age." Contrary to popular wisdom, they find little evidence that expansions become more fragile the longer they last, although they do find that contractions are increasingly likely to end as they age. The authors discuss the defining characteristics of business cycles, focusing on how economic variables move together and on the timing of the slow alternation between expansions and contractions. They explore the difficulties of distinguishing between long-term trends in the economy and cyclical fluctuations. And they examine how business cycles can be forecast, looking in particular at how to predict turning points in cycles, rather than merely the level of future economic activity. They show here that the index of leading economic indicators is a poor predictor of future economic activity, and consider what we can learn from other indicators, such as financial variables. Throughout, the authors make use of a variety of advanced econometric techniques, including nonparametric analysis, fractional integration, and regime-switching models. Business Cycles is crucial reading for policymakers, bankers, and business executives.
Business Cycles
Title | Business Cycles PDF eBook |
Author | Wesley Clair Mitchell |
Publisher | National Bureau of Economic Research |
Pages | 520 |
Release | 1927 |
Genre | Business & Economics |
ISBN |
Real and Financial Dynamics in a Macroeconomic Growth Model with Endogenous Cycles
Title | Real and Financial Dynamics in a Macroeconomic Growth Model with Endogenous Cycles PDF eBook |
Author | Eleonora Cavallaro |
Publisher | Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften |
Pages | 204 |
Release | 1999 |
Genre | Business cycles |
ISBN |
This book provides an analysis of the endogenous mechanisms that govern the dynamic processes in capitalist economies. A nonlinear IS-LM version of a macromodel is developed in which real and financial feed-back mechanisms lead to income distribution-employment dynamics along with fluctuations in aggregate demand and the capacity utilisation rate. Emphasis is placed on the relevance of demand constraints in firms' pricing strategies, within the context of imperfectly competitive markets, and its implications for the dynamics of income distribution in the cyclical process. The financial mechanisms appear in terms of the effects of the endogenous liquidity creation process on the dynamics of firms' indebtedness. The stress is on the two-fold nature of «finance» it supports the accumulation process and enhances growth, and yet it can lead to financial fragility and act as a source of systemic instability.