It is well understood that investment serves as a shock absorber at the time of crisis. The duration of the drag on … investment, however, is perplexing. For the nine Asian economies we focus on in this study, average investment/GDP is about 6 … between the sustained reserve accumulation and the persistent and significantly lower levels of investment in the region. Put …

the relation between monetary disturbances and macroeconomic fluctuations. The theoretical analysis introduces into an …

This paper evaluates the effects of fiscal policy on investment using a panel of OECD countries. In particular, we … investigate how different types of fiscal policy affect profits and , as a result, investment. We find a sizable negative effect … of public spending -- and in particular of its public wage component -- on business investment. This result is consistent …

debt in a way that assures fiscal solvency (a regime we call Money Dominant), then the price level is determined in more …, we present what we think is overwhelming evidence that the United States is in a Money Dominant regime; even the post …

This chapter reviews and synthesizes our current understanding of the shocks that drive economic fluctuations. The … to which the leading shock candidates can explain fluctuations in output and hours. It concludes that we are much closer … to understanding the shocks that drive economic fluctuations than we were twenty years ago …

per worker have also been on a steady decline. As recreation goods make leisure time more enjoyable, we investigate if the …The real price of recreation goods and services has fallen dramatically over the last century. At the same time, hours … recreation prices on hours worked, we use variation in the bundle of recreational goods across demographic groups to instrument …