Changes in Business Cycles: Evidence and Explanations
نویسندگان
چکیده
منابع مشابه
Changes in Business Cycles: Evidence and Explanations
I n his 1959 Presidential Address to the American Economic Association, Arthur Burns (1960, p. 1) predicted, if not the end of business cycles in the United States, at least “progress towards economic stability.” The advent of stabilization policy, the end of bank runs, and structural changes in the economy all seemed destined to radically reduce short-run economic fluctuations in the postwar e...
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Managers engage in income smoothing either to communicate private information about future earnings to investors (informativeness hypothesis) or to distort financial performance for opportunistic purposes (opportunism hypothesis). Business cycles and the monitoring role of institutional ownership may affect the earnings informativeness of income smoothing. The purpose of this research is to exa...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 1999
ISSN: 0895-3309
DOI: 10.1257/jep.13.2.23