Cyclical Productivity in US Manufacturing (RLE: Business Cycles)
Cyclical Productivity in US Manufacturing (RLE: Business Cycles)

Author: Miguel Jimenez

Publisher: Routledge

Published: 2015-03-27

Total Pages: 113

ISBN-13: 1317512103

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This book presents several pieces of empirical work which disentangle why the standard measure of productivity growth used in macroeconomics turn out to be procyclical for American manufacturing industries. Procyclical productivity is an essential feature of business cycles because of its important implications for macroeconomic modelling. The author explains why traditional Keynesian theories of the business cycle do not explain satisfactorily why productivity is procyclical, and argues that the force of technology for generating economic cycles is much more important than that of the management or mismanagement of monetary or fiscal policies. This book is aimed at those working in empirical macroeconomics but also industrial economics.

Productivity and the Business Cycle
Productivity and the Business Cycle

Author: Domenico Marchetti

Publisher: Taylor & Francis

Published: 1997

Total Pages: 108

ISBN-13: 9780815327226

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Three essays on the ways in which business cycles affect productivity review and criticize previous research, propose an dynamic model using gross output data, and provide a decomposition of industrial productivity growth in Polish manufacturing 1992-93 indicating the importance of structural effects. Annotation copyrighted by Book News, Inc., Portland, OR

The Global Trade Slowdown
The Global Trade Slowdown

Author: Cristina Constantinescu

Publisher: International Monetary Fund

Published: 2015-01-21

Total Pages: 44

ISBN-13: 1498399134

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This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and income in the past four decades reveals that the long-term trade elasticity rose sharply in the 1990s, but declined significantly in the 2000s even before the global financial crisis. These results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because of a structural change in the trade-GDP relationship in recent years. The available evidence suggests that the explanation may lie in the slowing pace of international vertical specialization rather than increasing protection or the changing composition of trade and GDP.

Technology Shocks and Aggregate Fluctuations
Technology Shocks and Aggregate Fluctuations

Author: Mr.Pau Rabanal

Publisher: International Monetary Fund

Published: 2004-12-01

Total Pages: 68

ISBN-13: 1451875657

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Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.

Market Behaviour and Macroeconomic Modelling
Market Behaviour and Macroeconomic Modelling

Author: Simon Kuipers

Publisher: Springer

Published: 1998-11-12

Total Pages: 416

ISBN-13: 1349267325

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Market Behaviour and Macroeconomic Modelling discusses several state-of-the-art developments in the modelling approach to market behaviour in macroeconomic modelling. Leading experts in this field, deal with the implications of market imperfections in commodity markets, capital markets and labour markets for macroeconomic modelling and stabilization policy. They demonstrate that incorporating market imperfections leads to very different policy recommendations than those derived from the standard perfect competition model.

NBER Macroeconomics Annual 1989
NBER Macroeconomics Annual 1989

Author: Oliver J. Blanchard

Publisher: MIT Press

Published: 1989

Total Pages: 420

ISBN-13: 9780262521451

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This is the fourth in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents: The Monetary History After Twenty-Five Years: New Evidence on the Money-Output Relationship, Christina Romer and David Romer Restrictions on Financial Intermediaries and Implecations for Aggregate Fluctuations: Canada and the U.S., 1870-1908, Stephen Williamson The Thatcher "Miracle", Charles Bean with Jim Symons The Revised NBER Indexes of Coincident and Leading Economic Indicators, James Stock and Mark Watson Consumption, Income, and Interest Rates: The Euler Equation Approach Ten Years Later, John Campbell and N. Gregory Mankiw U.S. Earnings and Income Inequality: Recent Trends, Frank Levy Business Cycle Models with Increasing Returns, Kevin Murphy, Andrei Shleifer, and Robert Vishny

Cyclical Effects of the Composition of Government Purchases
Cyclical Effects of the Composition of Government Purchases

Author: Mr.Jahangir Aziz

Publisher: International Monetary Fund

Published: 1997-02-01

Total Pages: 39

ISBN-13: 1451843712

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This paper constructs a general equilibrium model with monopolistically competitive firms and endogenous markups where government spending consists of both consumption and investment goods. It is shown that when markups are countercyclical, increases in the share of investment goods in aggregate government expenditure entail a trade-off between greater long- run efficiency and higher short-run volatility. Estimates based on the model, calibrated to the postwar U.S. economy, show that the effects on output, employment, and welfare can be significant

Industrial Organization And Trade In The Food Industries
Industrial Organization And Trade In The Food Industries

Author: Ian Sheldon

Publisher: CRC Press

Published: 2019-04-24

Total Pages: 338

ISBN-13: 0429723326

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This book is the outcome of a conference on 'Empirical Studies of Industrial Organization and Trade in the Food Industries' in Indianapolis. The conference placed an emphasis on empirical applications of new methods linking industrial organization and trade theory for the U.S. food industries.

Is the Economic Cycle Still Alive?
Is the Economic Cycle Still Alive?

Author: Paolo Annunziato

Publisher: Springer

Published: 1994-02-12

Total Pages: 298

ISBN-13: 1349231835

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We are now living in a period of disillusion in the ability of economic policy to stabilise the economy. This is proven by the onset of severe world recession in the early 1980s and the inability to invert the negative phase of the business cycle under way in the industrialized countries in the early 1990s. The failure of old policies motivates the research into the causes of economic fluctuations and their measurement whose results are published in this volume