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Wednesday, May 13, 2020 | History

2 edition of Further observations on the political business cycle in Germany monetary aggregates found in the catalog.

Further observations on the political business cycle in Germany monetary aggregates

Helge Berger

Further observations on the political business cycle in Germany monetary aggregates

by Helge Berger

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  • 18 Currently reading

Published by University of Glasgow, Department of Economics. in Glasgow .
Written in English


Edition Notes

StatementHelge Berger and Ulrich Woitek.
SeriesEconomics discussion paper series / University of Glasgow, Department of Economics -- no.9902, Economics discussion paper (University of Glasgow, Department of Economics) -- no9902.
ContributionsWoitek, Ulrich., University of Glasgow. Department of Economics.
ID Numbers
Open LibraryOL17876405M

It is argued by many historians that Germany experience a period of political calm, economic development and social progress in the mid s for a variety of reasons. There is evidence to support the claim that the economy developed in the mid s, due to the fact that there was significant monetary stability and a growth in available capital. George Macesich is the author of several books, including Political Economy. of Money: Emerging Fiat Monetary Regime (Praeger, ); Issues in Money. and Banking (Praeger, ) and Money and Monetary Regimes: Struggle for. Monetary Supremacy (Praeger, ).

Mises's defense of fixed exchange rates parallels his defense of the gold standard as the ideal monetary system on an international level. For instance, in , in his book Omnipotent Government, Mises wrote, The gold standard put a check on governmental plans for easy money. This report analyzes employment and unemployment patterns from to , offers possible explanations for why labor market outcomes for immigrants have been more cyclical, and proposes possible public policy solutions for mitigating immigrants’ vulnerability to the business cycle.

Richard G. Anderson & Robert H. Rasche, "Eighty years of observations on the adjusted monetary base: ," Review, Federal Reserve Bank of St. Louis, issue Jan, pages El Montasser, Ghassen, "The seasonal KPSS Test: some extensions and further results," MPRA Paper , University Library of Munich, ni Olivei & Silvana Tenreyro,   Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm and brand performance, depends to a large extent on how firms adjust their Cited by: 6.


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Further observations on the political business cycle in Germany monetary aggregates by Helge Berger Download PDF EPUB FB2

Arguably, Germany had the world's most independent central bank. Surprisingly, however, recent work has found political business cycles in German monetary aggregates.

Monetary Theory and Policy from Hume and Smith to Wicksell is one of those rare books that redefines its field. It is indispensable reading for thoughtful bankers and economists alike.' Laurence Harris - University of London ‘Arie Arnon's ambitious history of monetary theory and policy is history of economic thought at its very by: In the U.S.

business cycle, a monetary aggregate consisting predominantly of sight deposits strongly leads output, time deposits strongly lag output, and a monetary aggregate consisting of both types of deposits tends to be coincident with the cycle.

Such movements are observed both before and after the monetary policy change. Similar dynamics are obtained in a model with multi-stage.

Searching for Political Business Cycles in Germany. cycle in annual data for monetary aggregates, Alesina, Cohen, and Roubini (, Tab. "Political Business Cycle Theories" refers to the. A key observation in their study motivating their view is that in the US business cycle movements in monetary aggregates consisting of currency and bank deposits, such as M 2, systematically precede movements in real output.

Tobin (), King and Plosser (), and Freeman and Huffman (), however, challenge such a by: Business cycle research in marketing: a review and research agenda book flights less often, and spend less on travel, when the economy turns sour.

Dekimpe et al. () find that the New Canova, F. Detrending and business cycle facts. Journal of Monetary Economics, 41(3), – Carroll, C. The buffer stock theory Cited by: 6. Financial Innovation, Banking and Monetary Aggregates [Mullineux, Andrew W.] on *FREE* shipping on qualifying offers.

Financial Innovation, Banking and Monetary Aggregates. May 7, / Global Monetary Aggregates Yardeni Research, Inc. US Monetary Aggregates US Monetary Growth US Savings Deposits 8 US Velocity 9 Euro Area Monetary Growth Global Monetary Growth Global M2 Aggregate Growth "Hall's excellent survey of business cycles is concise, lucid, and up-to-date, discussing not only early theories of the business cycle and Keynesian and monetarist models, but also the rational expectationist and new Keynesian models along with actual business cycles.

The book is based on Hall's lecture notes for a business cycles course he Cited by: 8. Graph and download economic data for M1 for Germany (MYAGM1DEMS) from Jan to Dec about M1, Germany, and monetary aggregates. Start studying Econ Learn vocabulary, terms, and more with flashcards, games, and other study tools.

IF POLICY were as restrictive as Poole suggested, reasoned David Fand, interest rates would have exploded in recent months when nominal GNP was rising sharply. Fand concluded that accelerated. Business Cycles Although business cycles are most com - monly used to describe the state of a single country’s economy, globalization and the proliferation of regional trade agreements have prompted economists to study common movements of these cycles across multiple countries.

The eurozone, for example, is an economic and monetary union. Essentially such a strategy has involved the setting of policy instruments to attain an intermediate target (the rate of growth of one or more of the monetary aggregates) with the ultimate aim of influencing the rate of growth of nominal income, particularly inflation, and perhaps affecting real economic variables also (FriedmanOECD out the business cycle EXCEPT that (a) only productivity shocks can cause real fluctuations in the business cycle.

(b) the government has imperfect knowledge of the economy. (c) political constraints on policy actions prevent the government from carrying out effective policies.

baum, and Evans (, ) and Bernanke et al. () focus on monetary policy shocks. These studies come to a consensus on the main macroeconomic e⁄ects of a monetary policy shock.

Following an increase in the short term interest rate, real ac-tivity measures and monetary aggregates such as the M1 money supply decline, prices. Money aggregates, monetary transmissions, and the business cycle Chapters 3 and 4 explain the real impacts of monetary aggregates under a flexible price framework.

The model is able to account for both the nominal interest rate behaviour and the business cycle facts without sticky price/wage and limited participation monetary shocks.

union. This may be interpreted as a relative gain in business cycle affiliation within the currency zone compared to affiliation with outside countries.

Altogether, the results show a distinct euro-area business cycle, though evidence for a further increase in synchronisation File Size: KB. 6 economic data series with tags: France, Monetary Aggregates. FRED: Download, graph, and track economic data.

Business Cycles in International Historical Perspective Susanto Basu and Alan M. Taylor B usiness cycle models seek to answer the question of why economies go through cycles of recession and recovery, or boom and bust. Any theory of the business cycle. Measurement of Monetary Aggregates across Countries Yueh-Yun C.

O’Brien* Novem Division of Monetary Affairs Board of Governors of the Federal Reserve System 20th and C Street, N.W. Washington, D.C. U.S.A. * I am grateful for helpful comments from File Size: KB.Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, fol-lowed by similarly general recessions, contractions, and revivals which merge into.of financial and business cycles, we characterise business cycles applying the same methodology on a set of business cycle indicators, which are economic output, unemployment rate, consumer price inflation, and benchmark bond yields.

Our main empirical findings are threefold. First, credit and asset prices are marked by cyclical similarities.