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Macroeconomic reforms: Risks, flash points and the way forward
Bhagwati, Jaimini; Barua, Abheek; Khan, M. Shuheb - 2014
This Working Paper examines India's growth and employment generation performance over the last ten years in the context of key indicators such as fiscal and current account balances and inflation and suggests priorities for macroeconomic reforms. An improvement in the central Government's...
Persistent link: https://www.econbiz.de/10011807696
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Freight Transportation Activity, Business Cycles and Trend Growth
Andersson, Fredrik N. G.; Elger, Thomas - 2007
This paper studies empirical linkages between cycles and trends in freight transportation activity and real economic activity in Sweden. We find that cycles in freight transportation are highly contemporaneously correlated with cycles in economic variables over both the short run and the medium...
Persistent link: https://www.econbiz.de/10013208518
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Consumption smoothing during unemployment
Kolsrud, Jonas - 2011
kink allows me to identify how UI affect the use of private wealth to finance consumption during unemployment spells. Using … lacks buffer savings. This is further emphasized for different subpopulations. Women, couples, and older individuals holds … significantly larger liquid wealth than men and young singles. …
Persistent link: https://www.econbiz.de/10010321386
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Saving on a Rainy Day, Borrowing for a Rainy Day
Alan, Sule; Crossley, Thomas; Low, Hamish - 2012
-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of …
Persistent link: https://www.econbiz.de/10010500212
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First-time home buyers and residential investment volatility
Fisher, Jonas Daniel Maurice; Gervais, Martin - 2007
Like other macroeconomic variables, residential investment has become much less volatile since the mid-1980s (recent experience notwithstanding.) This paper explores the role of structural change in this decline. Since the the early 1980s there have been many changes in the underlying structure...
Persistent link: https://www.econbiz.de/10010292099
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Investment spending, equilibrium indeterminacy, and the interactions of monetary and fiscal policy
Lubik, Thomas A. - 2003
This paper investigates determinacy of equilibrium in a canonical New Keynesian model under different monetary and fiscal policy rules. It is shown that a simple monetary rule that responds aggressively to inflation is a necessary condition for equilibrium determinacy, when fiscal policy is...
Persistent link: https://www.econbiz.de/10010293451
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Input and output inventories
Humphreys, Brad R.; Maccini, Louis J.; Schuh, Scott - 2000
This paper presents a new stage-of-fabrication inventory model with ordering usage and stocking of input materials that distinguishes between gross production and value added It extends the traditional linear-quadratic model of output (finished goods) inventories by adding joint determination of...
Persistent link: https://www.econbiz.de/10010293497
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Financialisation and financial crisis in Iceland
Guðmundsson, Björn Rúnar - 2015
Financialisation in Iceland should be seen as an evolving process driven by a mixture of global and domestic forces. Responding to fundamental issues underlying macroeconomic imbalances, the authorities introduced policies that proved particularly supportive of financial expansion at a time when...
Persistent link: https://www.econbiz.de/10011310222
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The principle of effective demand: Marx, Kalecki, Keynes and beyond
Hein, Eckhard - 2015
The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians,...
Persistent link: https://www.econbiz.de/10011381299
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The relationship between housing investment and economic growth in China: A panel analysis using quarterly provincial data
Chen, Jie; Zhu, Aiyong - 2008
In this paper we investigate the long-run and short-run relationship between housing investment and economic growth in China using the quarterly province-level panel data for the period 1999 q1 to 2007 q4. Recently developed econometric techniques for panel unit root testing and heterogeneous...
Persistent link: https://www.econbiz.de/10010321479