Business Cycles and Long-Lived Impact of Recession on Economy : Policy Implication

ISBN-13: 9783639119695 / Angielski / Miękka / 2009 / 128 str.

Huiyan Zhang

Opis

This book provides new theoretical and empirical evidence to examine three factors often cited as causes of business cycle fluctuations. The first factor is monetary policy; the second is financial structures and crony capitalism; and the third is external shocks, such as European integration.The first paper contains a theoretical and empirical study of sacrifice ratios (costsof using monetary policy to reduce inflation) when disinflation has long-lived effects onoutput or unemployment. The second paper is about the relationship between corruption, economicvolatility, and economic growth. In the third paper, I use a standard gravity model to analyze the separate effects ofexchange rate volatility and economic integration, such as membership in the EuropeanUnion (EU) and participation in the European Monetary System (EMS), on foreign directinvestment (FDI).

O autorze

Huiyan (Lawrence) Zhang, PhD, CFA, is a Vice President at Nomura
Securities in New York. Prior to Nomura, He worked
at E Trade as a Senior Manager, and at International
Monetary Fund as an Economist/Consultant. He earned a Ph.D. in
Economics from Johns Hopkins University, M.S. from Fudan
University, and B.S. from Shandong University.