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Journal articles on the topic 'Economic Bubble IN Cycle'

Author: Grafiati

Published: 29 July 2024

Last updated: 31 July 2025

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1

Martin, Alberto, and Jaume Ventura. "Economic Growth with Bubbles." American Economic Review 102, no. 6 (2012): 3033–58. http://dx.doi.org/10.1257/aer.102.6.3033.

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We develop a stylized model of economic growth with bubbles in which changes in investor sentiment lead to the appearance and collapse of macroeconomic bubbles or pyramid schemes. These bubbles mitigate the effects of financial frictions. During bubbly episodes, unproductive investors demand bubbles while productive investors supply them. These transfers of resources improve economic efficiency thereby expanding consumption, the capital stock and output. When bubbly episodes end, there is a fall in consumption, the capital stock and output. We argue that the stochastic equilibria of the model

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2

Weise, Andreas Dittmar, Jürgen W. Philips, and Norberto Hochheim. "Cyclicity Of Housing Markets Under The Specific Condition Of The Existence Of A Bubble In The Real Estate Market." Real Estate Management and Valuation 23, no. 3 (2015): 85–98. http://dx.doi.org/10.1515/remav-2015-0028.

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Abstract In recent years, real estate bubbles have been commonplace in housing markets all over the world. That’s why we examine the relation between housing prices during bubbles in 101 cities located in ten different countries, aiming to explain the housing market cycle during a housing bubble, using economic and housing indicators. We obtained data on eight variables used in market cycle analysis which may be able to explain the existence of speculation and the ideal market cycle. The obtained resultsshow that many of economic and housing indicators begin to decrease while housing prices pe

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Borhan, Nurharyanti, Nurfadhlina Abdul Halim, Wan Muhammad Amir W. Ahmad, et al. "Rational Speculative Bubble Size in Hang Seng, S&P500 and Nikkei 225 Index Trend from Year 1976 until 2016." International Journal of Engineering & Technology 7, no. 2.14 (2018): 36. http://dx.doi.org/10.14419/ijet.v7i2.14.11150.

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Rational speculative bubble size happens when the prices of an asset surpass its intrinsic value. This bubbles are harmful when burst because its gives a big impact towards the economic. The aims of this study is to show the size of rational speculative bubble existed from year 1976 until 2016. The period are separated into four which are the first cycle is from 1/11976 to 6/12/1987, the second cycle happen in 7/12/1987 to 12/8/1998, 13/8/1998 to 26/10/2008 for the third cycle and 27/10/2008 to 31/12/2016 for the fourth cycle. This study is also emphasizing on the trend of the rational specula

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4

Cholewiński, Jarosław. "The Phenomenon of Speculative Bubble in the Light of the Austrian Business Cycle Theory." Equilibrium 4, no. 1 (2010): 51–63. http://dx.doi.org/10.12775/equil.2010.004.

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The article presents the modern interpretation of the Austrian business cycle theory and the look at the phenomenon of economic bubble through the lens of that theory. The aim of the article is to answer the question ‘What is the main cause of economic bubbles’. The author suggests that it is a depiction which integrates cyclical fluctuations induced by credit expansion with the phenomenon of speculative bubble. Capital-based macroeconomics proposed by Garrison can become a core of universal economic theorizing. The model presented by the author shows how credit expansion that decreases intere

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Girdzijauskas, Stasys, and Dalia Štreimikienė. "APPLICATION OF LOGISTIC MODELS FOR STOCK MARKET BUBBLES ANALYSIS." Journal of Business Economics and Management 10, no. 1 (2009): 45–51. http://dx.doi.org/10.3846/1611-1699.2009.10.45-51.

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The article deals with economic bubbles and analyses their possible causes and tools for the prediction of such bubbles development. An economic bubble is the commonly used term for an economic cycle that is characterized by a rapid expansion followed by a dramatic crash. While some bubbles happen naturally as a part of the economic cycle, some also occur as a result of investor exuberance and serve as correctives. These typically happen in securities, stock markets, real estate and various other business sectors because of certain changes in the way key players conduct business. The well‐know

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Štreimikienė, Dalia, and Neringa Barakauskaitė-Jakubauskienė. "AN APPLICATION OF LOGISTIC CAPITAL MANAGEMENT THEORY MODEL TO THE ECONOMIC GROWTH CYCLE IN LITHUANIA / LOGISTINĖS KAPITALO VALDYMO TEORIJOS MODELIO TAIKYMAS LIETUVOS EKONOMINIO AUGIMO CIKLUI." Technological and Economic Development of Economy 17, no. 2 (2011): 352–68. http://dx.doi.org/10.3846/20294913.2011.583724.

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The article analyses one of the most recent theories of economic growth prof. Girdzijauskas (2002, 2006, 2008, 2009, 2010) created logistic growth theory, whose main idea is based on market saturation and the concept of limitation. The essential claims of the theory are being tried to adjust analysing the economic growth cycle of Lithuania in 1995–2009 period. Performed logistic analysis of Lithuania's GDP (Loglet Lab2), macro–economic indicators’ and factors’ affecting them correlation regression analysis (SPSS15,0). The article concludes of the presentation of the created economic growth cyc

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Yoshino, Naoyuki, and Tetsuro Mizoguchi. "The Role of Public Works in the Political Business Cycle and the Instability of the Budget Deficits in Japan." Asian Economic Papers 9, no. 1 (2010): 94–112. http://dx.doi.org/10.1162/asep.2010.9.1.94.

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This paper discusses the Liberal Democratic Party's (LDP) ability to maintain a majority of seats in the Diet after WWII by focusing on the role of public investment. The paper discusses three periods, namely, (i) the high-growth period (1950 to 1985), (ii) the asset bubble period (1986 to 1990), and (iii) the period of economic downturn after the bubble (post 1990). During the high-growth period, government investment had a strong positive output effect and it increased the tax revenue in the medium and long run. The high rate of private capital formation boosted growth and tax revenue even f

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Yifan, Ding. "World economic situation and China's new development pattern against background of COVID-19." Napredak 2, no. 2 (2021): 57–66. http://dx.doi.org/10.5937/napredak2-32687.

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The COVID pandemic has devastated the world economy, which has also caused serious slumps in Western developed countries. Although they have adopted "ultra-easy" monetary policy, the real economy did not emerge from recessions because of it and a global "liquidity bubble" was caused instead. The economic recession caused by the pandemic in developed countries may last for years. The governments of some countries in the United States and Europe have adopted strong state intervention methods to control the investment and trade behaviors of enterprises, then force them to "decouple" from China. B

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9

Asadov, Alam I., and Mansor H. Ibrahim. "THEORETICAL IMPACT OF ENHANCED MUSHARAKAH MUTANAQISAH HOME FINANCING ON REAL ESTATE PRICES." Journal of Islamic Monetary Economics and Finance 4, no. 1 (2018): 133–60. http://dx.doi.org/10.21098/jimf.v4i1.747.

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This paper theoretically analyzes two alternative modes of home financing. The first mode is the conventional housing loan and the other is Enhanced Musharakah Mutanaqisah (EMM) home financing. Our results reveal the EMM based setting is superior to the conventional housing loans in at least two aspects. These are the prevention of house price inflation in all phases of economic business cycle and the smoothening of real estate cycles. This means that, under the EMM, the risk of real estate bubble formation is subdued, which should prove to be welfare improving.

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Pitros, Charalambos, and Yusuf Arayici. "How to identify housing bubbles? A decision support model." International Journal of Housing Markets and Analysis 9, no. 2 (2016): 190–221. http://dx.doi.org/10.1108/ijhma-01-2015-0002.

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Purpose The purpose of this paper is to provide a decision support model for the early diagnosis of housing bubbles in the UK during the maturity process of the phenomenon. Design/methodology/approach The development process of the model is divided into four stages. These stages are driven by the normal distribution theorem coupled with the case study approach. The application of normal distribution theory is allowed through the usage of several parametric tools. The case studies tested in this research include the last two UK housing bubbles, 1986 to 1989 and 2001/2002 to 2007. The central hy

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Fantcho, Joseph Emmanuel, and Patrick Konin N'gouan. "Do Bubbles Have Real Effects? Balance Sheet Analysis and Review of Literature." International Journal of Economics and Finance 16, no. 9 (2024): 41. http://dx.doi.org/10.5539/ijef.v16n9p41.

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This paper studies the nature and the existence of bubbles in financial markets. Do bubbles have real effects? How do they behave? From balance sheet, we learn that the impacts of bubbles depend on who owns the bubbles assets. The effects of speculative bubbles are intensified when it is banks that hold financial assets. Banks&rsquo; balance sheets are improving following the expansion of a bubble that sharply increases asset prices, earnings and equity. The increase in equity rises the capacity of banks to grant credit to the economy, to stimulate economic growth, investments and producti

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Abueg, Luisito, Christian Marvin Zamora, and Leonard Nevin Correa. "COVID-19 pandemic and the Philippine real estate property cycle: indications of bubble and burst in the “new normal”?" Philippine Review of Economics 58, no. 1&2 (2021): 264–92. http://dx.doi.org/10.37907/11erp1202jd.

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The Philippines has been one of the countries greatly affected by the COVID-19 pandemic. The country is regarded to be under the world's longest lockdown with an upsurge of cases, and it has also entered into an official recession with record-breaking economic contraction and high unemployment rates, fueling economic uncertainties. These macroeconomic indicators show serious signs of the adversities of the pandemic affecting the real estate development sector. As the real estate sector recalibrates its plans on response, recovery, and resiliency, this paper attempts to provide empirical eviden

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Imai, Masami, and Seitaro Takarabe. "Bank Integration and Transmission of Financial Shocks: Evidence from Japan." American Economic Journal: Macroeconomics 3, no. 1 (2011): 155–83. http://dx.doi.org/10.1257/mac.3.1.155.

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This paper investigates whether banking integration plays an important role in transmitting financial shocks across geographical boundaries by using a dataset on the branch network of nationwide city banks and a prefecture-level dataset on the formation and collapse of the real estate bubble in Japan. The results show that the credit and economic cycle of financially integrated prefectures exhibits higher sensitivity to fluctuation in land prices in cities relative to financially isolated ones. These results suggest nationwide banks can be a source of economic volatility when they pass on the

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14

Liang, Yuxuan. "Bubble in the Real Estate Market and Its Risks to Macroeconomy: A Case Study of the United States." Advances in Economics, Management and Political Sciences 125, no. 1 (2024): 72–76. https://doi.org/10.54254/2754-1169/2024.17788.

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The real estate market in the United States is renowned for its cycles of rapid growth and subsequent decline, which have profound implications for the broader economy. This paper delves into the nature of real estate bubbles, investigating their formation, development, and the associated risks to the macroeconomy, with a particular focus on the U.S. market. Through a comprehensive analysis of historical data, key economic indicators, and case studies of significant real estate bubbles, including the infamous 2008 financial crisis, the paper elucidates how these bubbles emerge and the mechanis

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Beretta, Edoardo. "On the Inflation-Debt-Bubble “Vicious Cycle” in Times of Evolving Money—A Memorandum of Forward-Looking Lessons." Economies 12, no. 2 (2024): 26. http://dx.doi.org/10.3390/economies12020026.

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The global financial crisis (2008–2009) represents a notable example of a generally unpredicted crisis in economic history. Nevertheless, it presented features comparable to almost any previous (monetarily related) crisis episode. For instance, it was characterized by a “vicious cycle” made by over-issued money and/or over-granted loans nourishing private and public indebtedness and—eventually—affecting asset prices with stable consumer price indexes. While the post-COVID-19 inflation presents different characteristics because of being a crisis “exogenous” to the economic system, the present C

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Yoon, Jae-Ho, Young-Wan Goo, and Katarzyna Anna Nawrot. "The linked movement of the housing market and stock market in the G7 asset economy." JOURNAL OF INTERNATIONAL STUDIES 17, no. 4 (2024): 80–89. https://doi.org/10.14254/2071-8330.2024/17-4/5.

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The relationship between housing and stock prices has traditionally been positive and stable. However, prior research suggests this relationship can vary significantly under certain economic conditions. For instance, Yoon (2018) identified a typical business cycle between housing and stock prices in the U.S. and U.K. during oil shocks, the IT bubble collapse, and the 2008 financial crisis. This study examines whether such standard asymmetric behaviour exists across G7 countries using the FIML Markov-switching model developed by Yoon and Nawrot (2022). Our findings indicate that housing and sto

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17

Hahn, Jonas, Verena Keil, Thomas Wiegelmann, and Sven Bienert. "Office properties through the interest cycle." Journal of Property Investment & Finance 34, no. 5 (2016): 432–56. http://dx.doi.org/10.1108/jpif-01-2016-0006.

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Purpose – The purpose of this paper is to estimate the impact of changes in macro-economic conditions going forward, focusing on a change in interest policy, with regard to office letting and investment markets. Design/methodology/approach – For this analysis, the authors constructed two vector-autoregressive models, measuring the response of office rents and capital values in Germany to economic impulses. The authors isolated effects of unique exogenous positive shocks (such as economic growth or interest leaps) on the basis of impulse-response functions in order to understand the complex dyn

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18

Walther, Herbert. "Forty years of real-estate bubbles in the US and the macroeconomy: a Keynesian perspective." European Journal of Economics and Economic Policies: Intervention 16, no. 3 (2019): 381–402. http://dx.doi.org/10.4337/ejeep.2019.03.07.

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This paper presents a dynamic, non-linear, stock–flow consistent aggregate Keynesian model with a banking sector, a household sector, a government sector, and a real-estate sector, to study the interactions between booms and busts in the real-estate sector and the macroeconomy. Using this model we try to simulate some ‘stylized facts’ about the US economy observable during the last four decades. It is argued that for various reasons house-price volatility in the US has increased since the 1980s: house prices seem to have followed a ‘cobweb’ pattern of accelerating instability, leading to the c

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Avni, Nufar, and Nurit Alfasi. "UniverCity: The Vicious Cycle of Studentification in a Peripheral City." City & Community 17, no. 4 (2018): 1248–69. http://dx.doi.org/10.1111/cico.12338.

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Research on studentification has unpacked the spatial, economic, and social impacts that are associated with the growing presence of students in cities. Nonetheless, considerably less attention has been paid to the broader regional and national contexts that shape studentification. Using the case study of Ben–Gurion University of the Negev, Beersheba, we argue that the studentification of the city should be understood within its context as the periphery of the country. Despite the university's central location and its involvement in revitalization efforts in the region, Ben–Gurion University i

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Jadevicius, Arvydas, and Peter van Gool. "Assessing Dutch housing cycle and near-term market prospects." Journal of European Real Estate Research 13, no. 2 (2020): 257–70. http://dx.doi.org/10.1108/jerer-07-2019-0020.

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Purpose This study is a practice undertaking examining three main concerns that currently dominate Dutch housing market debate: how long is the cycle, will the current house price inflation continue and is housing market in a bubble. With national house prices reaching record highs across all major cities, future market prospects became a topic of significant debate among policymakers, investors and the populace. Design/methodology/approach A triangulation of well-established academic methods is used to perform investigation. The models include Hodrick-Prescott (HP) filter, volatility autoregr

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Dzikevičius, Audrius, Lukas Kazlauskas, and Šarūnas Bruzgė. "Evaluation of factors leading to formation of price-bubbles in the real estate market of Lithuania." Business: Theory and Practice 16, no. (4) (2015): 345–52. https://doi.org/10.3846/btp.2015.544.

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Recently, real estate market has been discussed more frequently in the framework of economic analysis. The global economic crisis of 2008 has demonstrated the severity of financial shock that can be caused by inconsiderate investments in the real estate market. The present article analyses business cycles and the phenomenon of a price-bubble in that context. Drawing on the analysis of reference literature we identify the main reasons that can lead to fluctuations of prices in the real estate market. Finally, drawing on correlation and regression analysis we determine which factors have the str

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Tebekin, Alexey. "Problems of creative implementation of global development initiatives: theoretical and methodological aspect." Theoretical economics, no. 9 (September 30, 2024): 73–88. https://doi.org/10.52957/2221-3260-2024-9-73-88.

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The relevance of the presented study is determined by the fact that in recent years the world community has been living in anticipation of another economic crisis of a financial nature. A very serious reason for such concerns is the fact that, unlike previous global economic crises of a financial nature, the crisis of the 2020s did not result in the collapse of the financial bubble periodically inflated within the framework of the K. Juglar cycle, but on the contrary was accompanied by the release of a large amount of money onto the market in the interests of combating the COVID-19 pandemic. A

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Fernández-Villaverde, Jesús, Luis Garicano, and Tano Santos. "Political Credit Cycles: The Case of the Eurozone." Journal of Economic Perspectives 27, no. 3 (2013): 145–66. http://dx.doi.org/10.1257/jep.27.3.145.

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We study the mechanisms through which the entry into the euro delayed, rather than advanced, key economic reforms in the eurozone periphery and led to the deterioration of important institutions in these countries. We show that the abandonment of the reform process and the institutional deterioration, in turn, not only reduced their growth prospects but also fed back into financial conditions, prolonging the credit boom and delaying the response to the bubble when the speculative nature of the cycle was already evident. We analyze empirically the interrelation between the financial boom and th

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Feng, Kun, and Ki Seong Lee. "Relationship between Chinese Financial Cycle and Business Cycle." Asia Europe Perspective Association 18, no. 3 (2021): 115–37. https://doi.org/10.31203/aepa.2021.18.3.005.

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The data used in this research are from the first quarter of 2001 to the third quarter of 2020 to analyze the relationship between the financial cycle and the business cycle in China. The research results are as follows: First, the cycling period of housing price cycles and equity price cycles are relatively short in comparison with the ratios of total credit to the private credit to GDP. Second, the research shows that the selected indicators faithfully manifest the medium-term cycle. Third, in terms of the financial cycle, because of the peak, there is concern that this could lead to a finan

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Zhang, Yunyi, and Boqiang Lin. "Managing Dynamic Information Transition Between the Semiconductor Cycle and China's Coal-Electricity Market." Journal of Global Information Management 33, no. 1 (2025): 1–26. https://doi.org/10.4018/jgim.373581.

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This study examines the unexpected rise in electricity production in China amid economic pressures from 2022 to 2023, highlighting the role of information dynamics. Employing a Bayesian Structural VAR model, the research delves into technology shocks derived from the semiconductor cycle to elucidate these anomalies within China's Coal-Electricity Market. We find: (1) A positive response of China's electricity production to technology and demand shocks, influenced by information transitions, lasting nearly a year. (2) Rapid absorption of reactions to coal supply and inherent electricity product

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Majewski, Sebastian, and Agnieszka Majewska. "Using Monte Carlo Methods for the Valuation of Intangible Assets in Sports Economics." Folia Oeconomica Stetinensia 17, no. 2 (2017): 71–82. http://dx.doi.org/10.1515/foli-2017-0019.

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AbstractThis paper indicates the possibilities of using Monte Carlo simulations methods in players’ performance rights value monitoring. The authors have formulated a hypothesis that connects Monte Carlo methods (MC) and econometric models of the player’s life cycle that could give club managers another source of information for the decision process. The MC method in finance is usually used to value the option price on the basis of assumed distribution of price changes. In this approach, the method was used to determine future the hypothetical value of footballers’ performance rights. Using ec

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Schnabl, Gunther. "Monetary Policy and Structural Decline: Lessons from Japan for the European Crisis." Asian Economic Papers 14, no. 1 (2015): 124–50. http://dx.doi.org/10.1162/asep_a_00327.

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Japan experienced a boom-and-bust cycle in the real estate and stock markets almost 20 years earlier than Europe. Since the bursting of the Japanese bubble economy, the country has fallen into a deep recession and has experimented with crisis therapies in the form of unconventional monetary expansion, Keynesian fiscal stimulus, and recapitalization of financial institutions. Japan reached a low interest rate environment in the mid 1990s and has accumulated an exceptionally high level of public debt during more than two decades of economic stagnation. This paper compares the boom-and-bust cycle

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Cossiga, Giovanni Antonio. "Stability and Instability of an Economic System: Considerations." Review of European Studies 9, no. 3 (2017): 8. http://dx.doi.org/10.5539/res.v9n3p8.

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The essay would like to investigate on the inflation as an equilibrium problem within an economic system hit by an outside or inside shock. The persistence of economic system instability makes the inflation speed to grow, gradually reaching the maturity condition. From this point forward, the nominal price movement becomes regular and this regularity will allow the economic system to have an almost-normal working condition. The inflation must be intended as a remedy spontaneously applied when a system is hit by a severe shock, then becoming unstable. According to this view, also the negative i

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BOUALI, SAFIEDDINE. "FEEDBACK LOOP IN EXTENDED VAN DER POL'S EQUATION APPLIED TO AN ECONOMIC MODEL OF CYCLES." International Journal of Bifurcation and Chaos 09, no. 04 (1999): 745–56. http://dx.doi.org/10.1142/s0218127499000535.

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We connect to the Van der Pol's equation an appropriate feedback loop which unfolds a wide range of dynamic behavior. The bifurcation diagrams reveal the rise, then the extinction of the chaos bubble. Moreover, the numerical computations display an antisymmetric strange attractor with morphological plasticity by the variation of the sole feedback control parameter. This chaotic 3D system is built to found an heuristic model of economic cycles focused on the capital flight observed in the less developed countries. The model exhibits the ability of the potential GDP to drive the growth dynamic.

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Gao, Meizhen. "Optimizing Energy Storage System Operations and Configuration through a Whale Optimization Algorithm Enhanced with Chaotic Mapping and IoT Data: Enhancing Efficiency and Longevity of Energy Storage Stations." Wireless Power Transfer 2023 (December 4, 2023): 1–14. http://dx.doi.org/10.1155/2023/9998972.

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To enhance the charging and discharging strategy of the energy storage system (ESS) and optimize its economic efficiency, this paper proposes a novel approach based on the enhanced whale algorithm. Recognizing that the standard whale algorithm can sometimes suffer from local optima in high-dimensional multiobjective optimization, this study introduces chaotic mapping and individual information exchange mechanisms to address this challenge. The proposed algorithm explores optimal configurations for different energy device placements and capacities through encircling and bubble searches, evaluat

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Harnos, László. "Cycles of the Housing Market in Hungary from the Economic Crisis until Today." Naše gospodarstvo/Our economy 64, no. 2 (2018): 3–14. http://dx.doi.org/10.2478/ngoe-2018-0007.

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AbstractThe main aim of this paper is to identify the underlying reasons for the cyclical nature of the Hungarian housing market, in particular the business cycles, the construction, and market participants’ expectations. Our research was conducted based on analysis of statistical data and of the housing market indices. As a result, it can be stated that cyclic behaviour of the housing market may be explained primarily with business cycles, but state subsidies and mortgages also affect the variations. Accordingly, the increasing lending and the high amount of subsidies can generate a price bub

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Dzikevičius, Audrius, Lukas Kazlauskas, and Šarūnas Bruzgė. "Evaluation of factors leading to formation of price-bubbles in the real estate market of Lithuania." Verslas: Teorija ir Praktika 16, no. 4 (2015): 345–52. http://dx.doi.org/10.3846/btp.2015.544.

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Recently, real estate market has been discussed more frequently in the framework of economic analysis. The global economic crisis of 2008 has demonstrated the severity of financial shock that can be caused by inconsiderate investments in the real estate market. The present article analyses business cycles and the phenomenon of a price-bubble in that context. Drawing on the analysis of reference literature we identify the main reasons that can lead to fluctuations of prices in the real estate market. Finally, drawing on correlation and regression analysis we determine which factors have the str

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33

Hu, Jiayi. "The Impact of Japan's Yield Curve Control (YCC) on Inflation of Japan." Advances in Economics, Management and Political Sciences 39, no. 1 (2023): 39–46. http://dx.doi.org/10.54254/2754-1169/39/20231931.

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After the bursting of the bubble crisis in Japan, the government adopted a series of quantitative easing policies to improve the weak economic environment and promote economic growth. in September 2016, the Japanese government began to implement the yield curve control policy to improve the economic environment by controlling the yield on government bonds. the YCC policy, in theory, could promote economic growth and achieve the inflation target in Japan, but the actual effect was lacking. This paper analyses the main reason for the unsatisfactory implementation of the yield curve policy in Jap

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Gray, David. "An international housing market in the British Isles: Evidence from business and medium-term cycles using a Friedman test." Urban Studies 57, no. 2 (2019): 307–22. http://dx.doi.org/10.1177/0042098019839886.

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It has been averred that there is an international market in housing (inter alia, Adams Z and Füss R (2010) Macroeconomic determinants of international housing markets. Journal of Housing Economics 19(1): 38–50; Helbling T and Terrones M (2003) When Bubbles Burst – Chapter II, World Economic Outlook. April. Washington, DC: IMF; Pomogajko K and Voigtländer M (2012) Co-movement of house price cycles – A factor analysis. International Journal of Housing Markets & Analysis 5(4): 414–427). Although some authors examine the business cycle range, the mechanism by which this comes about is more li

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Singh, Onkar, Sandeep K. Rai, and Ravindra K. Ambikesh. "Investigations on Solar Powered Vapour Absorption Refrigeration based Air Conditioning." SAMRIDDHI : A Journal of Physical Sciences, Engineering and Technology 15, no. 01 (2023): 116–21. http://dx.doi.org/10.18090/samriddhi.v15i01.15.

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A solar-operated vapor absorption refrigeration cycle is environment-friendly refrigeration system that holds the potential to be used for refrigeration and air conditioning systems. Such a system requires a solar concentrator to run the vapor absorption refrigeration cycle using LiBr-H2O-based refrigeration/air conditioner for small capacity applications. With the solar-powered pumping process, this refrigeration system becomes completely free from electricity requirements. However, the limitations of all time solar radiation availability, low-pressure maintenance requirement of the LiBr-H2O

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Ghassan, Hassan Belkacem, and Noureddine Krichene. "Theoretical and Analytical Approach of Financial Stability: Islamic Perspective." Turkish Journal of Islamic Economics 12, no. 1 (2025): 140–75. https://doi.org/10.26414/a4148.

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This paper theoretically investigates financial stability and assesses the impacts of central bank policies on the banking system. The Islamic finance system has empirically shown relative stability to the waves of the 2007-2008 international financial crisis and reduced volatility of global financial markets. By using the sharing rule and stochastic dominance, we prove that the investor’s expected payoff in the stochastic return model is superior and falls between the expected payoffs of the investor and financier in the fixed return model, respectively. Financial instability can stem from ba

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Sieroń, Arkadiusz. "Znaczenie efektu Cantillona w teorii ekonomii." Ekonomia 22, no. 3 (2016): 9–25. http://dx.doi.org/10.19195/2084-4093.22.3.1.

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The Role of Cantillon Effect in EconomicsThe aim of this article is to examine the role of the Cantillon effect in economics. The literature of economic theory lacks the detailed discussion of the implications of the first-round effect for economics. This paper attempts to fill this gap. The article is mainly theoretical, but considerations presented are illustrated by relevant empirical data. Based on the analysis, the author concludes that the effect of Cantillon develops particularly the theory of money and inflation, the theory of banking and central banking, the theory of business cycle a

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HAGIWARA, TAIJI, and YOICHI MATSUBAYASHI. "CAPITAL ACCUMULATION, VINTAGE AND PRODUCTIVITY: THE JAPANESE EXPERIENCE." Singapore Economic Review 64, no. 03 (2019): 747–71. http://dx.doi.org/10.1142/s0217590816500211.

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We empirically examine the relationship between capital accumulation, vintage and productivity of industries in Japan using firm-level microdata. Our analyses confirm that vintage significantly influenced productivity during the period of economic expansion. The effect was particularly notable during the upturn that started in 2000, when most examined industries displayed strong vintage effects. The rejuvenation of capital equipment during this period clearly resulted from a strong productivity effect. During the economic bubble of the late 1980s, by contrast, vintage exerted no observable eff

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Seo, Hye-Seong, and Yejin Joo. "Do External Impacts Cause Differences between Regional and National Business Cycles?: Focusing on the Dongnam Metropolitan Area." Korea International Trade Research Institute 19, no. 1 (2023): 197–210. http://dx.doi.org/10.16980/jitc.19.1.202302.197.

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Purpose – This study analyzes large differences and similarities through comparison with national level business fluctuations, including differences between regions within the Dongnam metropolitan area, focusing on the impact of major domestic and international economic shocks. Design/Methodology/Approach – This study conducted econometric analysis using the Markov switching model with the monthly manufacturing production indexes of each region from 2000 to 2020 as data. Findings – The characteristics of Dongnam metropolitan area, distinguished from other regions nationwide, are as follows. Fi

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Wang, Yuqian, Che-Wei Chiu, and Mark Wrolstad. "Do Covenants of Bonds Outstanding Affect the Choice of Covenants of New Issues? Evidence from the U.S. Corporate Bonds." Accounting and Finance Research 7, no. 1 (2018): 223. http://dx.doi.org/10.5430/afr.v7n1p223.

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This paper investigates the relation between debt covenants of a firm’s bonds outstanding and covenants of its newly issued bonds. On the one hand, since covenants are priced and costly, newly issued bonds may not include covenants that have been used in bonds outstanding, suggesting a negative relation between covenants of bonds outstanding and those of new issues. On the other hand, since firms tend to use boilerplate language in debt indentures, similar covenants of bonds outstanding are likely to be used repeatedly in the contracts of new issues, indicating a positive relation. Based on th

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Song, Jiyeoun. "Young people, precarious work, and the development of youth employment policies in Japan." Japanese Journal of Political Science 19, no. 3 (2018): 444–60. http://dx.doi.org/10.1017/s1468109918000117.

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AbstractJapan's labor market has been under severe strain over the past few decades, driven by its protracted economic recession, a series of labor market reforms, and changing labor management practices. Confronting these new challenges, an increasing number of young people have had extreme difficulties in searching for decent and stable jobs in the labor market, trapped in the vicious cycle of precarious employment. This paper examines the deterioration of employment and labor market conditions for Japan's youth after the collapse of the asset bubble in the early 1990s and the government's p

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Boshoff, Douw. "The impact of affordability on house price dynamics in South Africa." Acta Structilia 17, no. 2 (2010): 126–48. https://doi.org/10.38140/as.v17i2.106.

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Lately, the residential property market in South Africa has experienced much turbulence. Some perceived growth as a ‘property bubble’, while others considered it a healthy investment opportunity. This article considers the fundamental drive behind residential property demand and analyses the recent property cycle compared to the past. It also considers the effects of residential property demand on the construction industry. The study investigates the variables that drive property demand and uses methods of statistical fit of historical macro-economic variables to apply to a South African conte

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Dorofeenko, Viktor, Gabriel S. Lee, and Kevin D. Salyer. "Rationale Erklärungen für Immobilienpreis-Bubbles: Die Auswirkungen von Risikoschocks auf die Wohnimmobilienpreisvolatilität und die Volatilität von Investitionen in Wohnimmobilien." Perspektiven der Wirtschaftspolitik 12, no. 2 (2011): 151–69. http://dx.doi.org/10.1111/j.1468-2516.2011.00361.x.

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AbstractThe dramatic world-wide housing boom and bust cycles during the last few years are often described in the media as “bubbles” and were largely caused by irrational exuberance due to the liberalization of housing finance (i.e. credit market irregularities in the U.S.: the subprime markets and mortgage structured products). Following Dorofeenko et al (2011), this paper, however, argues that many of the business and housing stylized facts, especially, the U.S. housing price and residential investment volatilites can be explained by analyzing the role of uncertainty (risk) in the framework

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N. Kallianiotis, Dr Ioannis. "HOW EFFECTIVE AND EFFICIENT ARE THE NEW “PROGRESSIVE” PUBLIC POLICIES?" International Journal of Research in Commerce and Management Studies 06, no. 05 (2024): 358–402. http://dx.doi.org/10.38193/ijrcms.2024.6521.

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In this work we deal with the recent (1995-2024) Federal Reserve operated monetary policies, which were two unprecedented and distinct monetary policy regimes. They were, the inflation stabilization era (1995-2008) and the zero-interest rate era (December 15, 2008-December 15, 2015) and again (March 15, 2020-March 15, 2022), plus the current corrective period (March 16, 2022-present). These different monetary policy regimes provided various outcomes for interest rates, financial markets, inflation, cost of living, employment, international trade, and real economic growth. Then, a new “progress

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Douglas, H. Carr. "A FRAMEWORK EXPLAINING INFLATION SURPRISES." Journal of Global Trade, Ethics and Law 1, no. 1 (2023): 146–220. https://doi.org/10.5281/zenodo.7823904.

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<strong>Abstract. </strong>Four major inflation surprises mark the modern economic era: diminished response of inflation to stimulus since the 1990’s, increasing financial bubble cycles, resilience of inflation during the Great Financial Crisis, and, of course, the pandemic inflation. To explain these surprises, this paper presents a new framework for analysing inflation as driven by three major components: a Natural Rate of Inflation reflecting an economy’s dynamism, monetary inflation driven by the relative unit value of a currency as determined by monetary aggregates, and cyclic

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Mothorpe, Chris, and David Wyman. "Collapse: the decline and fall of master planned golf course communities." Journal of Property Investment & Finance 35, no. 6 (2017): 638–51. http://dx.doi.org/10.1108/jpif-04-2017-0030.

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Purpose The purpose of this paper is to examine the pricing of vacant lots in master planned golf course communities (GCCs) over the period of 2000-2016. The authors compare the longitudinal pricing behavior of different lot types during this economic cycle and examine the causes of the property bubble and subsequent deterioration of the business model with the arrival of the Financial Economic Crisis (FEC). Design/methodology/approach The authors construct spatial hedonic models for three master planned GCCs in Pickens County, South Carolina and use interaction dummies to examine the pricing

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Bostani, Maryam Rahemi. "Fungi and Effect of Fungi on Bodies." American International Journal of Cancer Studies 1, no. 1 (2019): 1–5. http://dx.doi.org/10.46545/aijcs.v1i1.46.

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The world and Kingdom Fungi involves many of the most important organisms, both in terms of their ecological and economic roles. By breaking down dead organic material, they continue the cycle of nutrients through ecosystems. In addition, most vascular plants could not grow without the symbiotic fungi, or mycorrhizae, that increase their roots and supply essential nutrients. Other fungi provide numerous drugs (such as penicillin and other antibiotics), foods like mushrooms, truffles and morels, and the bubbles in bread, champagne, and beer.

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Thornton, Mark. "Was Richard Cantillon a Mercantilist?" Journal of the History of Economic Thought 29, no. 4 (2007): 417–35. http://dx.doi.org/10.1080/10427710701666495.

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Richard Cantillon is considered by many to be the first economic theorist. His contributions span such diverse topics as methodology, value and price theory, population, money, international trade, business cycles, the circular-flow model of the economy, and the price-specie-flow mechanism. His only known book, Essai sur la Nature du Commerce en Général (hereafter, the Essai), may represent one of the single largest steps forward in the social sciences. Many attempts have been made to classify Richard Cantillon into a well-defined school of thought and he has been claimed as a forerunner by ma

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Backhaus, Achim, Aliya Zhakanova Isiksal, and Matthias Bausch. "What Financial Conditions Affect Dynamic Equity Risk Factor Allocation?" Economies 10, no. 2 (2022): 42. http://dx.doi.org/10.3390/economies10020042.

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The “technology bubble” in the late 1990s, the financial crisis in 2007/2008, and the Eurozone crisis generated significant losses across several asset classes. The objective of this paper is to investigate risk premia factors such as size, value, momentum, carry, quality, and low volatility and their time-variant behavior. The time-variant behavior of these risk premia baskets has been analyzed based on different financial conditions: The business cycle, the yield curve, equity market momentum, and different risk conditions. Factor calculations are based on the MSCI World universe. The monthl

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Wang, Lei, Shouwei Li, Jining Wang, and Yi Meng. "Real estate bubbles in a bank-real estate loan network model integrating economic cycle and macro-prudential stress testing." Physica A: Statistical Mechanics and its Applications 542 (March 2020): 122576. http://dx.doi.org/10.1016/j.physa.2019.122576.

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