Business Cycles and Financial Crises

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Business Cycles and Financial Crises. My interest in business cycles was rekindled by Professor Jim Ford, my mentor during the first part of my career at the University of Birmingham. Since completing my PhD on business cycles in 1983, my lecturing and research had focussed on money, banking and finance. Jim introduced me to Shackle’s much neglected work on business cycles, which is discussed in Chapter 4 and emphasises the key role bank lending decisions play in the propogation of business cycles. The 2007-9 Global Financial Crisis (GFC) was a clear demonstration of the role of bank lending in the propogation of financial crises and business cycles and a reminder.... Giống những tài liệu khác được bạn đọc chia sẽ hoặc do sưu tầm lại và giới thiệu lại cho các bạn với mục đích học tập , chúng tôi không thu tiền từ bạn đọc ,nếu phát hiện tài liệu phi phạm bản quyền hoặc vi phạm pháp luật xin thông báo cho chúng tôi,Ngoài giáo án bài giảng này, bạn có thể tải tài liệu miễn phí phục vụ tham khảo Một ít tài liệu tải về sai font không xem được, thì do máy tính bạn không hỗ trợ font củ, bạn tải các font .vntime củ về cài sẽ xem được.

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A. W. Mullineux Business Cycles and Financial Crises Download free ebooks at 2 Business Cycles and Financial Crises © 2011 A. W. Mullineux & Ventus Publishing ApS ISBN 978-87-7681-885-2 Download free ebooks at 3 Business Cycles and Financial Crises Contents Contents Preface 6 1 The Nature of the Business Cycle 7 1.1 Definitions 7 1.2 The Monte Carlo Hypothesis 11 1.3 Are Business Cycles Symmetric? 18 1.4 The Frisch-Slutsky Hypothesis 23 1.5 Has the Business Cycle Changed Since 1945? 33 Notes 38 2 Business Cycle Theory 41 2.1 Introduction 41 2.2 Equilibrium Business Cycle (EBC) Modelling 48 2.3 Nonlinear Cycle Theory 56 Notes 61 3 The Financial Instability Hypothesis 63 3.1 Introduction 63 3.2 The Role of Money and Credit in Pre-Keynesian Business Cycle Literature 64 3.3 The Financial Instability Hypothesis (FIH) 71 Fast-track r Masters in Management London Business School Regent’s Park London NW1 4SA United Kingdom Tel +44 (0)20 7000 7573 Email Stand out from the crowd Designed for graduates with less than one year of full-time postgraduate work experience, London Business School’s Masters in Management will expand your thinking and provide you with the foundations for a successful career in business. The programme is developed in consultation with recruiters to provide you with the key skills that top employers demand. Through 11 months of full-time study, you will gain the business knowledge and capabilities to increase your career choices and stand out from the crowd. Applications are now open for entry in September 2011. For more information visit email or call +44 (0)20 7000 7573 Download free ebooks at 4 Business Cycles and Financial Crises Contents 3.4 Rational Speculative Bubbles 88 3.5 Conclusion 96 Notes 98 4 Towards a Theory of Dynamic Economic Development 101 4.1 A Brief Overview of Cycle Modelling 101 4.2 Schumpeter on Economic Evolution 104 4.3 The Long Swing Hypothesis and the Growth Trend 108 4.4 Shackle on the Business Cycle 116 4.5 Goodwin’s Macrodynamics 120 4.6 Concluding Remarks 124 Notes 126 5 The Unfinished Research Agenda 128 Notes 133 References 134 You’re full of energy and ideas. And that’s just what we are looking for. Looking for a career where your ideas could really make a difference? UBS’s Graduate Programme and internships are a chance for you to experience for yourself what it’s like to be part of a global team that rewards your input and believes in succeeding together. Wherever you are in your academic career, make your future a part of ours by visiting Download free ebooks at 5 ... - 658879