منابع مشابه
Investigating Economic Trends and Cycles
Methods are described for extracting the trend from an economic data sequence and for isolating the cycles that surround it. The latter often consist of a business cycle of variable duration and a perennial seasonal cycle. There is no evident point in the frequency spectrum where the trend ends and the business cycle begins. Therefore, unless it can be represented by a simple analytic function,...
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In this paper we analyze both theoretically and empirically the identifying restrictions on the impulse response functions, implied by the presence of common trends and common cycles. The notion of a complete set of common cycles is exploited to provide a data{dependent orthogonalization of disturbances, keeping separate the contribution to the permanent and transitory components of economic uc...
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Over the past two decades the United States has experienced substantial increases in the number of bank failures, however, surprisingly few banks have failed during the 2001 recession. This paper explores the relationship between economic cycles and bank health. We find that economic forecasts provide little additional information over bank-specific financial data during prosperous times, possi...
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Exergy analysis is based on combined first and second laws of thermodynamics and is a useful tool to analyze the energy systems in a better and more realistic way than an energy analysis, based on the first law of thermodynamics. Combination of exergy from thermodynamics with conventional concepts from engineering economy which is referred to as thermo-economy (exergo-economy) is a valuable too...
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This paper examines the connection between the legal environment and financial development, and then traces this link through to long-run economic growth. Countries with legal and regulatory systems that (1) give a high priority to creditors receiving the full present value of their claims on corporations, (2) enforce contracts effectively, and (3) promote comprehensive and accurate financial r...
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 1915
ISSN: 0013-0133
DOI: 10.2307/2221895