Volatility and Growth (häftad)
Fler böcker inom
Format
Häftad (Paperback / softback)
Språk
Engelska
Serie
Clarendon Lectures in Economics
Antal sidor
160
Utgivningsdatum
2020-12-18
Förlag
OUP OXFORD
Dimensioner
213 x 135 x 10 mm
Vikt
236 g
ISBN
9780198867739

Volatility and Growth

av Philippe Aghion, Abhijit Banerjee, Philippe Aghion
Häftad,  Engelska, 2020-12-18
306

10% rabatt på allt med kod NYSTART26

Gäller t.o.m. 25 januari. Villkor.

Köp
Spara som favorit
  • Skickas från oss inom 7-10 vardagar.
  • Fri frakt över 249 kr för privatkunder i Sverige.
Finns även som
Visa alla 2 format & utgåvor
It has long been recognized that productivity growth and the business cycle are closely interrelated. Yet, until recently, the two phenomena have been investigated separately in the economics literature. This book provides the first consistent attempt to analyze the effects of macroeconomic volatility on productivity growth, and also the reverse causality from growth to business cycles. The authors show that by looking at the economy through the lens of private entrepreneurs, who invest under credit constraints, one can go some way towards explaining persistent macroeconomic volatility and the effects of volatility on growth. Beginning with an analysis of the effects of volatility on growth, the authors argue that the lower the level of financial development in a country the more detrimental the effect of volatility on growth. This prediction is confirmed by cross-country panel regressions. The data also suggests that a fixed exchange rate regime or more countercyclical budgetary policies are growth-enhancing in countries with a lower level of financial development. The former reduce aggregate volatility whereas the latter reduce the negative effects of volatility on long-term productivity-enhancing investment by firms. The book concludes with an investigation into how the interplay between credit constraints and pecuniary externalities is sufficient to generate persistent business cycles and to explain the occurrence of currency crises.
Visa hela texten

Passar bra ihop

  1. Volatility and Growth
  2. +
  3. The Impact of Incomplete Contracts on Economics

De som köpt den här boken har ofta också köpt The Impact of Incomplete Contracts on Economics av Philippe Aghion, Mathias Dewatripont, Patrick Legros, Luigi Zingales (häftad).

Köp båda 2 för 1019 kr

Kundrecensioner

Har du läst boken? Sätt ditt betyg »

Fler böcker av författarna

Philippe Aghion, Abhijit Banerjee, Philippe Aghion

Övrig information

Philippe Aghion is Robert C. Waggoner Professor of Economics at Harvard University. He has held positions at MIT, the French CNRS, the University of Oxford, and University College London, and joined the Harvard faculty in 2000. In 2001 he received the Yrjo Jahnsson Award of the European Economic Association and in 2020 he shared the BBVA Frontier of Knowledge Award with Peter Howitt. Abhijit Banerjee is Ford Foundation International Professor of Economics and Director of the Poverty Action Lab at MIT. He was a past President of the Bureau for Research in Economic Analysis and Development (BREAD). He received his Ph.D. in economics from Harvard University, and has taught at Princeton and Harvard before joining the MIT faculty in 1996. He is a 2019 Nobel Prize Winner for Economic Sciences.

Du kanske gillar