Showing 1 - 10 of 4,218
Persistent link: https://www.econbiz.de/10012294115
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...
Persistent link: https://www.econbiz.de/10012251398
Persistent link: https://www.econbiz.de/10012137290
Persistent link: https://www.econbiz.de/10012129616
The theory and practice of stabilization policy has taken many turns as it evolved over the past century, oscillating between high hopes and deep skepticism regarding the capacity - and desirability - of governments taking responsibility for macroeconomic stability. This paper reviews the...
Persistent link: https://www.econbiz.de/10013383580
Persistent link: https://www.econbiz.de/10000336904
Persistent link: https://www.econbiz.de/10001430757
Persistent link: https://www.econbiz.de/10001471218
Persistent link: https://www.econbiz.de/10000920809
After the breakdown of the Bretton Woods system, Austria adhered to an exchange rate policy of adjustably pegging the … to considerations of an optimum currency area comprising Germany and Austria. In the paper it is shown that (i) the … remarkable real wage flexibility in Austria, and (iii) a currency union with Germany was harmful to real sector developments in …
Persistent link: https://www.econbiz.de/10014180895