headerdesktop literatransp29iun25

MAI SUNT 00:00:00:00

MAI SUNT

X

headermobile literatransp29iun25

MAI SUNT 00:00:00:00

MAI SUNT

X

Promotii popup img

🍒Weekend Litera -50% -20%

🚛 la doar 4.99lei!

Poftă de citit?

Hai la răsfoit!

Volatility and Growth

Volatility and Growth - Philippe Aghion

Volatility and Growth

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.

Citeste mai mult

-10%

transport gratuit

PRP: 187.99 Lei

!

Acesta este Pretul Recomandat de Producator. Pretul de vanzare al produsului este afisat mai jos.

169.19Lei

169.19Lei

187.99 Lei

Primesti 169 puncte

Important icon msg

Primesti puncte de fidelitate dupa fiecare comanda! 100 puncte de fidelitate reprezinta 1 leu. Foloseste-le la viitoarele achizitii!

Livrare in 2-4 saptamani

Descrierea produsului

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.

Citeste mai mult

De acelasi autor

Parerea ta e inspiratie pentru comunitatea Libris!

Istoricul tau de navigare

Acum se comanda

Noi suntem despre carti, si la fel este si

Newsletter-ul nostru.

Aboneaza-te la vestile literare si primesti un cupon de -10% pentru viitoarea ta comanda!

*Reducerea aplicata prin cupon nu se cumuleaza, ci se aplica reducerea cea mai mare.

Ma abonez image one
Ma abonez image one