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Economics essay:浅析新型市场下的经济增长模式

小编导读:本文由代写留学生论文中心Economics essay定制专栏整理提供,全文论述了在新型市场下的经济增长模式。该文章语言流畅,结构有条理,有论有据,是篇不错的欣赏范文。

After reading the article on page 724, you will be required to choose one of there three emerging countries to write about (Malaysia, indonesia or the Philippines)and based on the information from the interwiew, class notes and a minimum of five external sources, decide which economic growth model is best for your country of choice.The paper should be include the nessary graphs to support your model.

Most of your work has been on business cycles and other high-frequency phenomena. Can you begin by reviewing the costs of recessions?robert lucas says that postwar U.S. recessions have cost very little.Do you agree?

No …but I’m not sure robert lucas was really trying to say that. My sense is that he was trying to push the profession to focus a bit more on long-run growth issues. Putting down the costs of recessions was a useful debating device to make his important point.

I believe that the statement that recessions are not costly is incorrect. First, I think his calculation of this magnitude reflects some fundamental flaw in the way the workhorse models we use in economics fail to account for the costs of risk and volatility. This flaw shows up in many different puzzle in economics, including the well-known equity premium puzzle. Economic models underestimate, by an order of magnitude, how unhappy agents are about facing uncertainty. Second, it is highly unlikely that recessions and medium-term growth are completely separable. In particular, the ongoing process of restructuring, which is central to productivity growth, is severly hampered by deep recessions.

Recessions are costly because they waste enormous resources, affect physical and human investment decisions, have large negative distributional consequences, influence political outcomes, and so on.

What about the costs of recessions in other parts of the world,especially latin america?
The cost of recessions grows exponentially with their size and the country’s inability to soften the impact on the most affected. Less developed economies suffer much larger shocks beause their economise are not well diversified, and they experience capital out-flows that exacerbate the impact of recessionary shocks. Their domestic financial sectors are small and often become strained during recessions, making it difficult to reallocate scarce resources toward those who need them the most.(本文由代写留学生论文中心Economics essay定制专栏整理提供)

To make maters worse, the government’s ability to use fiscal policy is also out of the question when the currency is in free fall and liabilities are dollarized. There are many things that we take  for granted in the United States that simply are not feasible for emerging markets in distess. One has to be careful with extrapolating too directly the countercyclical recipes used for developed economise to these countries.



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