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Business Cycles and Long-Lived Impact of Recession
on Economy. Edition No. 1
VDM Publishing House, Feb 2009, Pages: 128
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 (costs
of using monetary policy to reduce inflation) when
disinflation has long-lived effects on
output or unemployment.
The second paper is about the relationship between
corruption, economic
volatility, and economic growth.
In the third paper, I use a standard “gravity” model
to analyze the separate effects of
exchange rate volatility and economic integration,
such as membership in the European
Union (EU) and participation in the European
Monetary System (EMS), on foreign direct
investment (FDI).
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