Volatility And Growth (Clarendon Lectures in Economics) Год выпуска: 2005Автор: Phillipe AghionИздательство: Страниц: 0ISBN: 0199248613Описание Book DescriptionIt 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...
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Виктория, 26.12 Марин, я защитила диплом на отлично 24-го!!!! Спасибо громадное за то, что помогли мне. Не пожалела, что заказала речь, потому что комиссия сразу сказала - говорите только по делу. Мне очень приятно было с вами работать. Желаю вам побольше заказов. Еще раз большое спасибо!
