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Caribbean Business Cycles
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ISBN: 1462307515 1452738106 1282050915 9786613798367 1451900996 Year: 2004 Publisher: Washington, D.C. : International Monetary Fund,

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This paper identifies and describes key features of Caribbean business cycles during the period 1963-2003. In particular, the chronologies in the Caribbean classical cycle (expansions and contractions in the level of output) and growth cycle (periods of above-trend and below-trend rates of economic growth) are identified. It is found that Caribbean classical cycles are longer-lived than those of developed countries and non-Caribbean developing countries. While there are large asymmetries in the duration and amplitude of phases in the Caribbean classical cycle, on both measures the Caribbean growth cycle is much more symmetric. Further, there is some evidence of synchronization among the classical cycles of Caribbean countries, and stronger evidence of synchronization of Caribbean growth cycles.

Productivity and Cyclicality in Semiconductors : Trends, Implications, and Questions : report of a symposium
Authors: --- --- ---
ISBN: 0309092744 9786610208708 1280208708 0309544815 9780309544818 9780309092746 0309594815 9781280208706 6610208700 0309165571 9780309165570 Year: 2004 Publisher: Washington, D.C. : National Academies Press,

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The Langevin equation : with applications to stochastic problems in physics, chemistry, and electrical engineering
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ISBN: 1281935522 9786611935528 981279509X 9789812795090 9812384626 9789812384621 Year: 2004 Publisher: Singapore ; River Edge, N.J. : World Scientific,

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This volume is the second edition of the first-ever elementary book on the Langevin equation method for the solution of problems involving the Brownian motion in a potential, with emphasis on modern applications in the natural sciences, electrical engineering and so on. It has been substantially enlarged to cover in a succinct manner a number of new topics, such as anomalous diffusion, continuous time random walks, stochastic resonance etc, which are of major current interest in view of the large number of disparate physical systems exhibiting these phenomena. The book has been written in suc

Brittle-ductile deformation behaviour in the middle crust as exemplified by mullions (former "boudins") in the High-Ardenne slate belt, Belgium
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ISBN: 9058674452 Year: 2004 Volume: 14 Publisher: Leuven : Leuven University press,

Orogenic curvature : integrating paleomagnetic and structural analyses
Authors: ---
ISBN: 0813723833 Year: 2004 Publisher: Boulder, Colo. : Geological Society of America,

The Langevin equation : with applications to stochastic problems in physics, chemistry, and electrical engineering.
Authors: --- ---
ISBN: 9812384626 Year: 2004 Publisher: River Edge World Scientific


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Technology Shocks and Aggregate Fluctuations : How Well Does the RBC Model Fit Postwar U.S. Data?
Authors: --- ---
ISBN: 1451875657 1462355706 1451920253 9786613822499 1452743975 1282562207 Year: 2004 Publisher: Washington, D.C. : International Monetary Fund,

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Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.


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Boom-Bust Phases in Asset Prices and Fiscal Policy Behavior
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ISBN: 1462301592 1452746249 1281155845 1451894414 9786613777201 Year: 2004 Publisher: Washington, D.C. : International Monetary Fund,

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Boom and bust phases in asset prices have become a pervasive feature of macroeconomic developments in many advanced economies. This paper studies fiscal policy during boom-bust phases in asset prices and draws several conclusions. First, expansions and contractions in economic activity during such boom-bust phases tend to be highly persistent, cyclical turning points are harder to forecast, and the margins of error for output gap estimates can be large. Second, conventional estimates of revenue elasticities seem not to allow an accurate assessment of the fiscal stance and of the strength of underlying fiscal positions during boom-bust phases. And third, boom-bust phases tend to exacerbate already existing procyclical policy biases, as well as political-economy biases, toward higher spending and public debt ratios.


Book
Measuring a Roller Coaster : Evidenceon the Finnish Output Gap
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ISBN: 1462352030 1452751285 1281600547 1451894651 9786613781239 Year: 2004 Publisher: Washington, D.C. : International Monetary Fund,

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The output gap-which measures the deviation of actual output from its potential-is frequently used as an indicator of slack in an economy. This paper estimates the Finnish output gap using various empirical methods. It evaluates these methods against economic history and each other by a simulated out-of-sample forecasting exercise for Finnish CPI inflation. Only two gap measures, stemming from a frequency domain approach and the Blanchard-Quah decomposition, perform better than the naïve prediction of no change in inflation-but do not improve upon a simple autoregressive forecast. The pronounced volatility of output in Finland makes it particularly difficult to estimate potential output, producing considerable uncertainty about the size (and sign) of the gap.

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