Book Reviews

2012 ◽  
Vol 50 (1) ◽  
pp. 184-187
Keyword(s):  
Los Angeles ◽  
Business Cycle ◽  
Department Chair ◽  
The Great Depression ◽  
Basic Model ◽  
Equilibrium Level ◽  
The Business Cycle ◽  
The University ◽  
The U.S

Patrick Pintus of Aix-Marseille School of Economics, Aix-Marseille University reviews “Expectations, Employment and Prices” by Roger E. A. Farmer. The EconLit Abstract of the reviewed work begins: Presents a Keynesian economicsbased analysis of the business cycle and how to control it, focusing on the inefficiency of the equilibrium level of unemployment. Discusses the basic model; an extension to multiple goods; a model with investment and saving; a new way to understand business cycle facts; the Great Depression--telling the Keynesian story in a new way; the wartime recovery--a dynamic model where fiscal policy matters; the U.S. economy from 1951 to 2000--employment and gross domestic product; money and uncertainty; money and inflation since 1951; and how to fix the economy. Farmer is Professor and Department Chair of the Department of Economics at the University of California, Los Angeles. Bibliography; index.

Book Reviews

2014 ◽  
Vol 52 (2) ◽  
pp. 538-540 ◽  
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Early Years ◽  
African Studies ◽  
Intellectual Biography ◽  
The Business Cycle ◽  
The University

Michael Assous of Universite Paris I Pantheon-Sorbonne P.H.A.R.E. reviews “Michal Kalecki: An Intellectual Biography: Volume I, Rendezvous in Cambridge 1899–1939”, by Jan Toporowski. The Econlit abstract of this book begins: “Presents an intellectual biography of Polish economist Michal Kalecki, focusing on the years 1899–1939. Discusses the early years; the crucible of the Polish Revolution; economic journalism; a move to Warsaw; the Institute for the Study of Business Cycles and Prices; the socialist discussions; the enigma of the business cycle; Sweden; London; from London to Cambridge; seeking work again; the first synthesis of theory; Kalecki and his colleagues at the Cambridge Project; and shared ideas amid mutual incomprehension. Toporowski is with the School of Oriental and African Studies at the University of London.”

scholarly journals Asymmetric dynamics between uncertainty and unemployment flows in the United States

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Ali Ahmed ◽  
Mark Granberg ◽  
Victor Troster ◽  
Gazi Salah Uddin
Keyword(s):  
United States ◽  
Business Cycle ◽  
Negative Impact ◽  
The United States ◽  
Large Uncertainty ◽  
Monthly Data ◽  
Uncertainty Measures ◽  
Linear And Nonlinear ◽  
The Business Cycle ◽  
The U.S

AbstractThis paper examines how different uncertainty measures affect the unemployment level, inflow, and outflow in the U.S. across all states of the business cycle. We employ linear and nonlinear causality-in-quantile tests to capture a complete picture of the effect of uncertainty on U.S. unemployment. To verify whether there are any common effects across different uncertainty measures, we use monthly data on four uncertainty measures and on U.S. unemployment from January 1997 to August 2018. Our results corroborate the general predictions from a search and matching framework of how uncertainty affects unemployment and its flows. Fluctuations in uncertainty generate increases (upper-quantile changes) in the unemployment level and in the inflow. Conversely, shocks to uncertainty have a negative impact on U.S. unemployment outflow. Therefore, the effect of uncertainty is asymmetric depending on the states (quantiles) of U.S. unemployment and on the adopted unemployment measure. Our findings suggest state-contingent policies to stabilize the unemployment level when large uncertainty shocks occur.

scholarly journals The Business Cycle And Competition In The U.S. Brewing Industry

2011 ◽  
Vol 18 (2) ◽  
Author(s):  
Craig A. Gallet ◽  
Patricia J. Euzent
Keyword(s):  
Business Cycle ◽  
Font Size ◽  
Brewing Industry ◽  
Game Theoretic ◽  
Demand Fluctuations ◽  
The Business Cycle ◽  
The U.S

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; tab-stops: 4.5pt;"><span style="mso-bidi-font-style: italic;"><span style="font-size: x-small;"><span style="font-family: Batang;">Recent game-theoretic models of cartel behavior assess the sustainability of cooperation in the presence of demand fluctuations.<span style="mso-spacerun: yes;">&nbsp; </span>Depending on the stochastic assumptions of demand, different outcomes are predicted.<span style="mso-spacerun: yes;">&nbsp; </span>Accordingly, this paper investigates the effects of demand fluctuations on competition in the U.S. brewing industry.<span style="mso-spacerun: yes;">&nbsp; </span>The results show that competition among brewers is greater during periods associated with significant negative shocks to demand, lower observed demand, lower expected future industry profit, and lower advertising.</span></span></span></p>

Book Reviews

2011 ◽  
Vol 49 (3) ◽  
pp. 776-777
Keyword(s):  
Los Angeles ◽  
Urban Life ◽  
University Of California ◽  
Yale University ◽  
Quality Of Urban Life ◽  
The University ◽  
The Hill ◽  
China’S Cities

Matthew J. Kotchen of Yale University reviews “Climatopolis: How Our Cities Will Thrive in the Hotter Future” by Matthew E. Kahn. The EconLit Abstract of the reviewed work begins “Explores how cities will adapt to the challenges of climate change, focusing on how geographical and socioeconomic factors will affect the quality of urban life in a hotter world. Discusses too much gas; what we've done when our cities have blown up; king of the hill; the case of Los Angeles; whether Manhattan will flood; whether China's cities will go green; effects and adaptations in developing countries; seize the day--opportunities from our hotter future; and the future of cities. Kahn is Professor with the Institute of the Environment, the Department of Economics, and the Department of Public Policy at the University of California, Los Angeles. Index.”

The Maquiladora Industry: Recent Downturn And Future Prospects

2011 ◽  
Vol 8 (3) ◽  
Author(s):  
Javad Gorjidooz ◽  
Bijan Vasigh
Keyword(s):  
United States ◽  
Economic Growth ◽  
Business Cycle ◽  
Labor Demand ◽  
The United States ◽  
Global Competition ◽  
Bracero Program ◽  
Major Player ◽  
The Business Cycle ◽  
The U.S

The Maquiladora industry was created in the mid-1960 as the United States terminated the Bracero program. The main objective of the Bracero program was to bring in Mexican workers to fulfill U.S. agricultural labor demand. The end of the Bracero program left thousands of unemployed farm workers in Mexican cities bordering the U.S. The Maquiladora programs intent was to subsidize foreign manufacturers that set up plants on the Mexico side of the border to create jobs for the Mexican workers. Mexico allowed plants to temporarily import supplies, parts, machinery, and equipment necessary to produce goods and services in Mexico duty-free as long as the output was exported back to the United States. U.S. firms, as well as other multinational companies, responded enthusiastically to the lure of cheap labor. Mexico experienced high economic growth and become a major player in exporting intra-industry products to the U.S. The NAFTA and other free trade agreements signed by Mexico helped the economic growth of the Maquiladora region. Maquiladora employment increased significantly since the inception of the Maquiladora industry and Maquiladora exports now account for half of Mexicos total exports. The Maquiladora industry is U.S.-demand driven since most of Mexicos Maquiladora production is destined for the U.S. market. The recent recession in the U.S. took a heavy toll on Mexicos Maquiladora industry. Another challenge to the Maquiladora industry is raising global competition, particularly from China. Therefore, the magnitude of the industrys contraction during the most recent recession suggests that there are more factors influencing the industry than just the business cycle. This paper presents the creation of the Maquiladora industry, its success following the NAFTA agreement, and its recent downturn. It also explores the answers to the following questions: How much of the Maquiladora downturn was due to the business cycle? How much was due to structural change? Is the Maquiladora industry ready to face rising global competition?

Notes from the Editors, February 2020

2020 ◽  
pp. c2-64
Author(s):  
The Editors
Keyword(s):  
Business Cycle ◽  
Unemployment Rate ◽  
Full Employment ◽  
Wage Growth ◽  
The Past ◽  
Labor Statistics ◽  
The Business Cycle ◽  
Bureau Of Labor Statistics ◽  
The U.S ◽  
New Jobs

buy this issue According to the U.S. Bureau of Labor Statistics, the U.S. economy is experiencing an unemployment rate that is at a fifty-year low. Yet, wage growth continues to be weak, with continuing wage stagnation even at the peak of the business cycle. A major and largely undertheorized reason for the sluggish wages in a period of seeming full employment is to be found in the fact that the new jobs being created by the economy do not measure up to those of the past in terms of weekly wages and hours, or in the degree to which they support households or even individuals.

Book Reviews

2012 ◽  
Vol 50 (3) ◽  
pp. 809-818
Keyword(s):  
Economic Development ◽  
Los Angeles ◽  
The United States ◽  
Factor Endowments ◽  
University Of Wisconsin ◽  
European Colonization ◽  
The University ◽  
Relative Differences

Jeffrey G. Williamson of Harvard University and University of Wisconsin reviews “Economic Development in the Americas since 1500: Endowments and Institutions” by Stanley L. Engerman and Kenneth L. Sokoloff. The EconLit abstract of the reviewed work begins: Eleven papers explore differences in the rates of economic growth in Latin America and mainland North America, specifically the United States and Canada, and consider how relative differences in growth over time are related to differences in the institutions that developed in different economies. Papers discuss paths of development -- an overview; factor endowments and institutions; the role of institutions in shaping factor endowments; the evolution of suffrage institutions; the evolution of schooling – 1800–1925; inequality and the evolution of taxation; land and immigration policies; politics and banking systems; five hundred years of European colonization; institutional and noninstitutional explanations of economic development; and institutions in political and economic development. Engerman is John H. Munro Professor of Economics and Professor of History at the University of Rochester. The late Sokoloff was Professor in the Department of Economics at the University of California, Los Angeles. Bibliography; index.

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