The Roller Coaster Economy

The Roller Coaster Economy PDF

Author: Howard J Sherman

Publisher: Routledge

Published: 2015-07-17

Total Pages: 208

ISBN-13: 1317454731

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Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2008-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.

Sharing a Ride on the Commodities Roller Coaster

Sharing a Ride on the Commodities Roller Coaster PDF

Author: Andres Fernandez

Publisher: International Monetary Fund

Published: 2015-12-29

Total Pages: 60

ISBN-13: 1513549421

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Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). We document how these fluctuations correlate strongly with the business cycle in EMEs. We then embed a commodity sector into a multi-country EMEs’ business cycle model where exogenous fluctuations in commodity prices follow a common dynamic factor structure and coexist with other driving forces. The estimated model assigns to commodity shocks 42 percent of the variance in income, of which a considerable part is linked to the common factor. A further amplification mechanism is a ”spillover” effect from commodity prices to risk premia.

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