by
Shimer, Robert.
Call Number
331.12 22
Publication Date
2010
Summary
Labor Markets and Business Cycles integrates search and matching theory with the neoclassical growth model to better understand labor market outcomes. Robert Shimer shows analytically and quantitatively that rigid wages are important for explaining the volatile behavior of the unemployment rate in business cycles. The book focuses on the labor wedge that arises when the marginal rate of substitution between consumption and leisure does not equal the marginal product of labor. According to competitive models of the labor market, the labor wedge should be constant and equal to the labor income tax rate. But in U.S. data, the wedge is strongly countercyclical, making it seem as if recessions are periods when workers are dissuaded from working and firms are dissuaded from hiring because of an increase in the labor income tax rate. When job searches are time consuming and wages are flexible, search frictions--the cost of a job search--act like labor adjustment costs, further exacerbating inconsistencies between the competitive model and data. The book shows that wage rigidities can reconcile the search model with the data, providing a quantitatively more accurate depiction of labor markets, consumption, and investment dynamics. --From publisher's description.
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Electronic Resources
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126784.3906
by
Lahiri, Kajal.
Call Number
388.015195 22
Publication Date
2010
Summary
Transportation Indicators and Business Cycles recognises the important role the transportation sector plays in business cycle propagation and develops indicators for this sector to identify its current state, and predict its future. The reference cycle is defined, including business and growth cycles, for this sector over the period from 1979 using both the conventional National Bureau of Economic Research (NBER) method and modern time series models. A one-to-one correspondence between cycles in the transportation sector and those in the aggregate economy is found. It also constructs an index of leading indicators for the transportation sector using rigorous statistical procedures, and performs well as a forecasting tool.
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Electronic Resources
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126783.5625
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by
Altug, Sumru.
Call Number
338.542 22
Publication Date
2010
Summary
This book provides an overview of the modern theory and empirics of business cycles. Written by one of the pioneering authors in this field, it examines the notion of a business cycle and discusses alternative approaches to modeling. Arguably, one of the most important debates in this literature has been the issue of "matching" a business cycle to the data. In their original contribution, Kydland and Prescott (1982) proposed the method of calibration as a way of examining the implications of a business cycle model; yet, even at its inception, this approach came under criticism from a variety of sources. This monograph will examine some of these criticisms and discuss alternative approaches that have been put forward. More generally, it will discuss what lies ahead for modern business cycle theory.
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Electronic Resources
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114682.8516
by
Brown, Clair, 1946-
Call Number
338.4762138152 22
Publication Date
2009
Summary
This title looks at how the chip industry has responded to a series of crises over the past 25 years, often reinventing itself and shifting the basis for a global competitive advantage.
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Electronic Resources
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3.1381
by
Malliaris, A. G.
Call Number
338.542 22
Publication Date
2005
Summary
The compendium of papers in this volume focuses on aspects of economic uncertainty, financial instabilities and asset bubbles. Economic uncertainty is modeled in continuous time using the mathematical techniques of stochastic calculus. A detailed treatment of important topics is provided, including the existence and uniqueness of asymptotic economic growth, the modeling of inflation and interest rates, the decomposition of inflation and its volatility, and the extension of the quantity theory of money to allow for randomness. The reader is also introduced to the methods of chaotic dynamics, and this methodology is applied to asset pricing, the European equity markets, and the multi-fractality in foreign currency markets. Since the techniques of stochastic calculus and chaotic dynamics do not readily accommodate the presence of stochastic bubbles, several papers discuss in depth the presence of financial bubbles in asset prices, and econometric work is performed to link such bubbles to monetary policy. Finally, since bubbles often burst rather than deflate slowly, the last section of the book studies the crash of October 1987 as well as other crashes of national equity markets due to the Persian gulf crisis.
Format:
Electronic Resources
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3.0872
by
Hirata, Hideaki, author.
Call Number
333.338 22
Publication Date
2013
Summary
"We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these questions, we first estimate the global components in house prices and various macroeconomic and financial variables. We then evaluate the roles played by a variety of global shocks, including shocks to interest rates, monetary policy, productivity, credit, and uncertainty, in explaining house price fluctuations using a wide range of FAVAR models. We find that house prices are synchronized across countries, and the degree of synchronization has increased over time. Global interest rate shocks tend to have a significant negative effect on global house prices whereas global monetary policy shocks per se do not appear to have a sizeable impact. Interestingly, uncertainty shocks seem to be important in explaining fluctuations in global house prices"--Abstract.
Format:
Electronic Resources
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2.0633
by
Velthuis, Carol.
Call Number
658.8
Publication Date
2010
Summary
Industries sometimes are dominated by one market leader for many years. These successful companies are called 'Summer Champions' by Carol Velthuis, referring to the natural seasonal cycle of businesses.
Format:
Electronic Resources
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1.5636
by
Turchin, Peter, 1957- author.
Call Number
304.6 22
Publication Date
2009
Format:
Electronic Resources
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1.5126
by
Gregoriou, Greg N., 1956-
Call Number
338.83 22
Publication Date
2007
Summary
It is now a well-know fact that mergers and acquisitions activity comes in waves. The most recent wave, the 5th takeover wave of the 1990s, was characterized by an unprecedented number of corporate restructurings in terms of mergers and acquisitions (M & As), public-to-private transactions, spin-offs and divestitures, and leveraged recapitalizations. Following the collapse of the stock market in March 2000, M & A activity slumped dramatically, but this pause ended in the second half of 2004 when takeover deals occurred again quite frequently. Indeed, some observers wonder whether the 6th takeover wave has started. The takeover wave in the 1990s was particularly remarkable in terms of size and geographical dispersion. For the first time, Continental European firms were as eager to participate as their US and UK counterparts, and M & A activity in Europe hit levels similar to those experienced in the US. Due to its financial impact and the unprecedented activity in Continental Europe, the 5th takeover wave of the 1990s and recent takeover activity (in biotech, utilities, pharmaceuticals) have triggered a great deal of interesting academic research. This volume brings together a selection of insightful papers. An impressive group of international authors address the following themes: takeover regulation; the cyclical pattern of the M & A markets and probable causes and effects; methods to determine the performance of success of M & A actions; cross border deals; means of payment and its effects; studies of hostile bids; high leverage takeovers and delistings. *A selection of the best and latest quantitative research on M & A activity worldwide *Impressive collection of international authors *Provides important insights and implications for practitioners.
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Electronic Resources
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1.4716
by
Rosenfeld, Richard, editor.
Call Number
303.60835 23
Publication Date
2013
Summary
"How do economic conditions such as poverty, unemployment, inflation, and economic growth impact youth violence? Economics and Youth Violence provides a much-needed new perspective on this crucial issue. Pinpointing the economic factors that are most important, the editors and contributors in this volume explore how different kinds of economic issues impact children, adolescents, and their families, schools, and communities. Offering new and important insights regarding the relationship between macroeconomic conditions and youth violence across a variety of times and places, chapters cover such issues as the effect of inflation on youth violence; new quantitative analysis of the connection between race, economic opportunity, and violence; and the cyclical nature of criminal backgrounds and economic disadvantage among families. Highlighting the complexities in the relationship between economic conditions, juvenile offenses, and the community and situational contexts in which their connections are forged, Economics and Youth Violence prompts important questions that will guide future research on the causes and prevention of youth violence. Contributors: Sarah Beth Barnett, Eric P. Baumer, Philippe Bourgois, Shawn Bushway, Philip J. Cook, Robert D. Crutchfield, Linda L. Dahlberg, Mark Edberg, Jeffrey Fagan, Xiangming Fang, Curtis S. Florence, Ekaterina Gorislavsky, Nancy G. Guerra, Karen Heimer, Janet L. Lauritsen, Jennifer L. Matjasko, James A. Mercy, Matthew Phillips, Richard Rosenfeld, Tim Wadsworth, Valerie West, Kevin T. Wolff Richard Rosenfeld is Curators Professor of Criminology and Criminal Justice at the University of Missouri - St. Louis. Mark Edberg is Associate Professor at the George Washington University School of Public Health and Health Services. Xiangming Fang is Professor of Economics and Director of the International Center for Applied Economics and Policy in the College of Economics and Management at China Agricultural University. Curtis S. Florence is the lead health economist for the National Center for Injury Prevention and Control (NCIPC)"--
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Electronic Resources
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1.4174
by
Goldfarb, Brent, author.
Call Number
338.064 23
Publication Date
2019
Summary
This book provides new insight into speculative booms and busts by examining the emergence of major technological innovations and their influence on the market over a 150-year period. The authors pinpoint three factors that create bubbles, make projections about bubbles that are in the works, and offer guidelines for investors and policymakers to help sidestep future episodes.
Format:
Electronic Resources
Relevance:
1.2366
by
Aoki, Masanao.
Call Number
338.5212 22
Publication Date
2002
Format:
Electronic Resources
Relevance:
1.1417
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