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article in the Journal of Monetary Economics—the argument that features of the Hawley-Smoot tariffs could have done more to … tariffs during the Depression correlates well with the overall measure of productive inefficiency. Our model fails to produce … a labor wedge of any consequence—persuasive evidence that factors other than tariffs also contributed significantly to …
Persistent link: https://www.econbiz.de/10010283390
The recent global recession requires policy makers to identify the relative importance of shock transmission mechanisms in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics have changed considerably due to increased openness...
Persistent link: https://www.econbiz.de/10008533255
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The paper uses quarterly GDP data for some 30 years up to and including 2001, to examine the identity and development of the European business cycle. Cycles are identified by using a band-pass filter version of the Hodrick-Prescott filter and affiliations are examined using clustering techniques...
Persistent link: https://www.econbiz.de/10011509523
Deciding to undertake a series of tightening actions present unique challenges for Federal Reserve policymakers. These challenges are both political and economic. Using a variety of economic and financial market metrics, this article examines how the economy and financial markets evolved in...
Persistent link: https://www.econbiz.de/10012216728
Spain has experienced many financial crises through its history. These financial crises have varied origins. However, they do have common threads. The current recession and subsequent debt crisis follow the same pattern. The fiscal and monetary policies of the Spanish government have played a...
Persistent link: https://www.econbiz.de/10013125662
The paper uses quarterly GDP data for some 30 years up to and including 2001, to examine the identity and development of the European business cycle. Cycles are identified by using a band-pass filter version of the Hodrick-Prescott filter and affiliations are examined using clustering techniques...
Persistent link: https://www.econbiz.de/10013319683
The National Bureau of Economic Research (NBER) confirmed in November 2001 what many had long suspected - that the U.S. economy was in recession and had been since March 2001. Thus ended an economic expansion that had begun in March 1991, the longest in the NBER chronology that dates to the...
Persistent link: https://www.econbiz.de/10014034064
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