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Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
---|---|---|---|---|---|
Searching... | 30000010244958 | HB3716 R43 2009 | Open Access Book | Book | Searching... |
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Summary
Summary
A critical consideration in understanding business cycles is the amplification and propagation of shocks to the economic system. Many recessions seem to arise without a clearly identifiable cause or at least one of significant magnitude to justify an economy-wide recession. How can a small shock cause large changes in the economy? What are the mechanisms that amplify a modest shock such that a serious recession ensues? Despite the persistent search for a mechanism for business cycle amplification and propagation, much research in business cycles seems to ignore the likely role of the financial system. If a shock to the economy inhibits the capital allocation capability of an economy, then a seemingly mild shock may be amplified through its impact on new investment thereby snuffing out economic growth and causing a recession. This book provides new research on the field of recessions from around the globe.
Table of Contents
Preface |
What is a Recession, Who Decides When It Starts, and When Do They Decide? |
Business Cycles in Economic Theory: Exogenous or Endogenous? |
Evaluating the Potential for a Recession in 2008 |
The Recessionary Impact of Stabilizing Inflation |
On Accuracy Measure of Recession Forecasts |
Predicting Recessions Using Financial Variables |
Mysterious Socio-Economic Disturbances and Cyclical Fluctuations |
Dynamic Investor Risk Premia and Recessions |
Index |