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Dramatic changes in the relative prices of goods in international trade have accompanied, and indeed preceded, the global crisis. These changes are reflected in the terms of trade ofindividual countries and in the relative prices of goods within those countries. Asia-Pacific countries are...
Persistent link: https://www.econbiz.de/10009434781
Dramatic changes in the relative prices of goods in international trade have accompanied, and indeed preceded, the global crisis. These changes are reflected in the terms of trade of individual countries and in the relative prices of goods within those countries. Asia-Pacific countries are...
Persistent link: https://www.econbiz.de/10009434784
We contribute to the task of identifying trends and cycles in energy prices by examining very long series of prices for coal and oil, going back to 1650 in the case of coal and 1859 in the case of oil. We find annual rates of increase in real price of greater than two percent are found for coal...
Persistent link: https://www.econbiz.de/10009435028
This paper investigates the welfare costs of business cycles in a heterogeneous agent, overlapping generations economy which is distinguished by idiosyncratic labor market risk. Aggregate variation arises both in terms of aggregate productivity shocks and countercyclical variation in the...
Persistent link: https://www.econbiz.de/10009441157
The goal of this thesis is twofold: it aims, firstly, at a description of cycles in SouthAfrican financial variables and, secondly, at the evaluation of the relationshipbetween cycles in financial variables and the South African business cycle. The studyis based on the original business cycle...
Persistent link: https://www.econbiz.de/10009442149
This paper examines whether Australian labour market variables, in particular aggregate employment and unemployment … macroeconomy but there is evidence of asymmetric steepness for both employment and unemployment as well as the CPI. Nominal or real … wages exhibit neither forms of asymmetry. The evidence suggests that unemployment (employment) rises (falls) rapidly in …
Persistent link: https://www.econbiz.de/10009448021
's geographical behaviour. To maximise opportunities for observing change, the effects of recession on firms using a particular …
Persistent link: https://www.econbiz.de/10009448104
This paper identifies America's first Great Moderation, a period from 1841-1856 of unbroken economic expansion and low volatility comparable to the Great Moderation of the 1980s-2000s. This moderation occurred despite a lack of central banks, low governmental spending, and barriers to interstate...
Persistent link: https://www.econbiz.de/10009468758
This study attempts to determine the degree to which the state of the macroeconomy can be used to create a mutual fund investment strategy that consistently outperforms the S&P 500. By quantifying how systematic economic factors affect the relative performance of different fund strategies...
Persistent link: https://www.econbiz.de/10009474981
This dissertation studies the optimal regulatory response to financial crises. The first two chapters focus on prevention of financial crises, and the third chapter focuses on resolution of financial crises.Chapter 1 develops a quantitative theory of overborrowing based on a systemic risk...
Persistent link: https://www.econbiz.de/10009450677