Read Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications

Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications

Valerie MS Cerra

4.9/5 (19107 ratings)

Description:All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for shifts in trend output and the puzzling inconsistency of output dynamics with other cyclical components of production. The 'output gap' can be ill-conceived, poorly measured, and inconsistent over time. Persistent losses require more buffers and crisis-avoidance policies, affecting tradeoffs in prudential, macroeconomic, and reserve management policies. The frequency and depth of crises are key determinants of long-term growth and drive a new stylized model of economic development.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications. To get started finding Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: —

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2017

ISBN: 1484329422

Description: All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for shifts in trend output and the puzzling inconsistency of output dynamics with other cyclical components of production. The 'output gap' can be ill-conceived, poorly measured, and inconsistent over time. Persistent losses require more buffers and crisis-avoidance policies, affecting tradeoffs in prudential, macroeconomic, and reserve management policies. The frequency and depth of crises are key determinants of long-term growth and drive a new stylized model of economic development.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications. To get started finding Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications

Booms, Crises, and Recoveries: A New Paradigm of the Business Cycle and Its Policy Implications

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