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We propose a theoretical framework to reconcile episodes of V-shaped and L-shaped recovery, encompassing the behaviour of the U.S. economy before and after the Great Recession. In a DSGE model with endogenous growth, negative demand shocks destroy productive capacity, moving GDP to a lower...
Persistent link: https://www.econbiz.de/10012533939
We analyze the transmission of global financial crisis to business cycles in China and India. The pattern of business …
Persistent link: https://www.econbiz.de/10003861779
toward rising middle class of Asia. To successfully implement the new initiative of "Make in India", India needs to be … service networks will grow and contribute to the rapid growth in China, India, and Southeast Asian countries, especially from … Southeast Asia. In view of slowdown in growth and even recession in advanced economies as a result of the adverse impact of the …
Persistent link: https://www.econbiz.de/10011387468
Persistent link: https://www.econbiz.de/10003397221
In our article we review the secular stagnation hypothesis, firstly postulated by Hansen (1939), to describe the current macroeconomic dynamics faced by developed economies. Based in the existing literature, we elaborate on a workable definition of secular stagnation founded on four pillars:...
Persistent link: https://www.econbiz.de/10012815750
The paper compares the boom-and-bust cycles in Japan and Europe with respect to the reasons for excessive booms, the … characteristics of the crises, and the (potential) effects of the crisis therapies. As in Japan the consequence of expansionary … well as gradual real income losses, the economic policy implication for Japan and Europe is the timely exit from the …
Persistent link: https://www.econbiz.de/10009743745
). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth …
Persistent link: https://www.econbiz.de/10011863602
We examine whether government ideology was correlated with the growth in military expenditure in Germany over the period 1951-2011. By using various measures of government ideology, the results do not show any effect. The exception is an ideology measure based on the Comparative Manifesto...
Persistent link: https://www.econbiz.de/10010515371
We augment the canonical neoclassical model of trade to allow for interstate disputes over land, oil, water, or other resources. The costs of such disputes in terms of arming depend on the trade regime in place. Under either autarky or free trade, the larger country (in terms of factor...
Persistent link: https://www.econbiz.de/10003850881
imbalance and forecast bias. We found that in cases of severe class imbalance, the forecasts need to be adequately biased to …
Persistent link: https://www.econbiz.de/10014284725