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Asymmetry In Economic Fluctuations In The Us Economy: The Pre-War And The 1946-1991 Periods Compared

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  • Magda Kandil

Abstract

The focus of this investigation is one the asymmetric effects of monetary growth Shocks in the pre-and periods of United States history. The downward Rigidity of nominal wages in the post -war period appears to be an important factor in Differentiating the slope of the aggregate supply curve over time. Accordingly, the Response of real output and price to expansionary monetary growth shocks is similar in The pre-and post-war periods. In contrast, the aggregate supply curve is flatter in the Face of negative monetary growth shocks in the post-war period, exacerbating output Contraction and moderating price deflaction. The apparent change in the asymmetric Effects of m onetary growth shocks deflation. The apparent change in the asymmetric States over time. [E30,E33,E34,E35]

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  • Magda Kandil, 2002. "Asymmetry In Economic Fluctuations In The Us Economy: The Pre-War And The 1946-1991 Periods Compared," International Economic Journal, Taylor & Francis Journals, vol. 16(1), pages 21-42.
    • Handle: RePEc:taf:intecj:v:16:y:2002:i:1:p:21-42
    DOI: 10.1080/10168730200000002
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    1. Magda Kandil, 1992. "Some Evidence on Demand Fluctuations and the Increased Stability of the Post-war American Economy," Canadian Journal of Economics, Canadian Economics Association, vol. 25(4), pages 839-864, November.
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    1. Kandil, Magda, 2009. "Demand-side stabilization policies: What is the evidence of their potential?," Journal of Economics and Business, Elsevier, vol. 61(3), pages 261-276.
    2. Kandil, Magda, 2007. "The wage-price spiral: International evidence and implications," Journal of Economics and Business, Elsevier, vol. 59(3), pages 212-240.
    3. Ahrens, Steffen & Pirschel, Inske & Snower, Dennis J., 2017. "A theory of price adjustment under loss aversion," Journal of Economic Behavior & Organization, Elsevier, vol. 134(C), pages 78-95.
    4. Magda Kandil, 2010. "The asymmetric effects of demand shocks: international evidence on determinants and implications," Applied Economics, Taylor & Francis Journals, vol. 42(17), pages 2127-2145.
    5. Magda Kandil, 2016. "On the relationship between public and private spending in developing and developed countries," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 25(2), pages 165-191, March.
    6. Kandil, Magda, 2017. "Crowding out or crowding in? Correlations of spending components within and across countries," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1254-1273.
    7. Magda Kandil, 2019. "External Cyclicality in the Face of Aggregate Demand Shocks: Pros and Cons Across Developed and Developing Countries," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 48(1), February.

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