Matches in DBpedia 2015-10 for { <http://dbpedia.org/resource/Welfare_cost_of_business_cycles> ?p ?o }
Showing triples 1 to 83 of
83
with 100 triples per page.
- Welfare_cost_of_business_cycles abstract "In macroeconomics, the welfare cost of business cycles refers to the decrease in social welfare, if any, caused by business cycle fluctuations.Nobel economist Robert Lucas proposed measuring the cost of business cycles as the percentage increase in consumption that would be necessary to make a representative consumer indifferent between a smooth, non-fluctuating, consumption trend and one that is subject to business cycles.Under the assumptions that business cycles represent random shocks around a trend growth path, Robert Lucas argued that the cost of business cycles is extremely small, and as a result the focus of both academic economists and policy makers on economic stabilization policy rather than on long term growth has been misplaced. Lucas himself, after calculating this cost back in 1987, reoriented his own macroeconomic research program away from the study of short run fluctuations.However, Lucas' conclusion is controversial. In particular, Keynesian economists typically argue that business cycles should not be understood as fluctuations above and below a trend. Instead, they argue that booms are times when the economy is near its potential output trend, and that recessions are times when the economy is substantially below trend, so that there is a large output gap. Under this viewpoint, the welfare cost of business cycles is larger, because an economy with cycles not only suffers more variable consumption, but also lower consumption on average.".
- Welfare_cost_of_business_cycles thumbnail Lucas_W_Cost.JPG?width=300.
- Welfare_cost_of_business_cycles wikiPageID "23150085".
- Welfare_cost_of_business_cycles wikiPageLength "13328".
- Welfare_cost_of_business_cycles wikiPageOutDegree "47".
- Welfare_cost_of_business_cycles wikiPageRevisionID "666575016".
- Welfare_cost_of_business_cycles wikiPageWikiLink Approximation.
- Welfare_cost_of_business_cycles wikiPageWikiLink Business_cycle.
- Welfare_cost_of_business_cycles wikiPageWikiLink Category:Business_cycle.
- Welfare_cost_of_business_cycles wikiPageWikiLink Category:Economics_of_uncertainty.
- Welfare_cost_of_business_cycles wikiPageWikiLink Category:Macroeconomics.
- Welfare_cost_of_business_cycles wikiPageWikiLink Category:Welfare_economics.
- Welfare_cost_of_business_cycles wikiPageWikiLink Consumption_(economics).
- Welfare_cost_of_business_cycles wikiPageWikiLink Consumption_smoothing.
- Welfare_cost_of_business_cycles wikiPageWikiLink Discount_factor.
- Welfare_cost_of_business_cycles wikiPageWikiLink Discounting.
- Welfare_cost_of_business_cycles wikiPageWikiLink Economic_growth.
- Welfare_cost_of_business_cycles wikiPageWikiLink Economic_surplus.
- Welfare_cost_of_business_cycles wikiPageWikiLink Economist.
- Welfare_cost_of_business_cycles wikiPageWikiLink Edward_C._Prescott.
- Welfare_cost_of_business_cycles wikiPageWikiLink Edward_Prescott.
- Welfare_cost_of_business_cycles wikiPageWikiLink Equity_premium_puzzle.
- Welfare_cost_of_business_cycles wikiPageWikiLink Expected_value.
- Welfare_cost_of_business_cycles wikiPageWikiLink Isoelastic_utility.
- Welfare_cost_of_business_cycles wikiPageWikiLink John_Quiggin.
- Welfare_cost_of_business_cycles wikiPageWikiLink Keynesian.
- Welfare_cost_of_business_cycles wikiPageWikiLink Keynesian_economics.
- Welfare_cost_of_business_cycles wikiPageWikiLink Linear_trend_estimation.
- Welfare_cost_of_business_cycles wikiPageWikiLink Log-normal_distribution.
- Welfare_cost_of_business_cycles wikiPageWikiLink Macroeconomic.
- Welfare_cost_of_business_cycles wikiPageWikiLink Macroeconomics.
- Welfare_cost_of_business_cycles wikiPageWikiLink Mean.
- Welfare_cost_of_business_cycles wikiPageWikiLink Natural_log.
- Welfare_cost_of_business_cycles wikiPageWikiLink Natural_logarithm.
- Welfare_cost_of_business_cycles wikiPageWikiLink Nobel_Memorial_Prize_in_Economic_Sciences.
- Welfare_cost_of_business_cycles wikiPageWikiLink Nobel_Prize_in_Economics.
- Welfare_cost_of_business_cycles wikiPageWikiLink Output_gap.
- Welfare_cost_of_business_cycles wikiPageWikiLink Potential_GDP.
- Welfare_cost_of_business_cycles wikiPageWikiLink Potential_output.
- Welfare_cost_of_business_cycles wikiPageWikiLink Preference.
- Welfare_cost_of_business_cycles wikiPageWikiLink Present_discounted_value.
- Welfare_cost_of_business_cycles wikiPageWikiLink Rajnish_Mehra.
- Welfare_cost_of_business_cycles wikiPageWikiLink Ramsey_model.
- Welfare_cost_of_business_cycles wikiPageWikiLink Ramsey–Cass–Koopmans_model.
- Welfare_cost_of_business_cycles wikiPageWikiLink Representative_agent.
- Welfare_cost_of_business_cycles wikiPageWikiLink Risk_aversion.
- Welfare_cost_of_business_cycles wikiPageWikiLink Robert_Lucas,_Jr..
- Welfare_cost_of_business_cycles wikiPageWikiLink Social_welfare.
- Welfare_cost_of_business_cycles wikiPageWikiLink Social_welfare_function.
- Welfare_cost_of_business_cycles wikiPageWikiLink Stabilization_policy.
- Welfare_cost_of_business_cycles wikiPageWikiLink Standard_deviation.
- Welfare_cost_of_business_cycles wikiPageWikiLink Systematic_risk.
- Welfare_cost_of_business_cycles wikiPageWikiLink Time_preference.
- Welfare_cost_of_business_cycles wikiPageWikiLink Time_value_of_money.
- Welfare_cost_of_business_cycles wikiPageWikiLink Trend_estimation.
- Welfare_cost_of_business_cycles wikiPageWikiLink United_States.
- Welfare_cost_of_business_cycles wikiPageWikiLink Variance.
- Welfare_cost_of_business_cycles wikiPageWikiLink Welfare.
- Welfare_cost_of_business_cycles wikiPageWikiLink Welfare_cost_of_inflation.
- Welfare_cost_of_business_cycles wikiPageWikiLink Willingness_to_accept.
- Welfare_cost_of_business_cycles wikiPageWikiLink Willingness_to_pay.
- Welfare_cost_of_business_cycles wikiPageWikiLink File:Lucas_W_Cost.JPG.
- Welfare_cost_of_business_cycles wikiPageWikiLinkText "Welfare cost of business cycles".
- Welfare_cost_of_business_cycles wikiPageWikiLinkText "business cycle fluctuations".
- Welfare_cost_of_business_cycles wikiPageWikiLinkText "costs of business cycles".
- Welfare_cost_of_business_cycles wikiPageWikiLinkText "welfare cost of business cycles".
- Welfare_cost_of_business_cycles hasPhotoCollection Welfare_cost_of_business_cycles.
- Welfare_cost_of_business_cycles wikiPageUsesTemplate Template:Cite_book.
- Welfare_cost_of_business_cycles wikiPageUsesTemplate Template:Economics_sidebar.
- Welfare_cost_of_business_cycles wikiPageUsesTemplate Template:Reflist.
- Welfare_cost_of_business_cycles subject Category:Business_cycle.
- Welfare_cost_of_business_cycles subject Category:Economics_of_uncertainty.
- Welfare_cost_of_business_cycles subject Category:Macroeconomics.
- Welfare_cost_of_business_cycles subject Category:Welfare_economics.
- Welfare_cost_of_business_cycles type Microeconomic.
- Welfare_cost_of_business_cycles type Socioeconomic.
- Welfare_cost_of_business_cycles comment "In macroeconomics, the welfare cost of business cycles refers to the decrease in social welfare, if any, caused by business cycle fluctuations.Nobel economist Robert Lucas proposed measuring the cost of business cycles as the percentage increase in consumption that would be necessary to make a representative consumer indifferent between a smooth, non-fluctuating, consumption trend and one that is subject to business cycles.Under the assumptions that business cycles represent random shocks around a trend growth path, Robert Lucas argued that the cost of business cycles is extremely small, and as a result the focus of both academic economists and policy makers on economic stabilization policy rather than on long term growth has been misplaced. ".
- Welfare_cost_of_business_cycles label "Welfare cost of business cycles".
- Welfare_cost_of_business_cycles sameAs Q7980953.
- Welfare_cost_of_business_cycles sameAs Q7980953.
- Welfare_cost_of_business_cycles wasDerivedFrom Welfare_cost_of_business_cycles?oldid=666575016.
- Welfare_cost_of_business_cycles depiction Lucas_W_Cost.JPG.
- Welfare_cost_of_business_cycles isPrimaryTopicOf Welfare_cost_of_business_cycles.