LEADER 04275oam 2200625I 450 001 9910463623603321 005 20170822123030.0 010 $a1-138-86070-0 010 $a1-315-71636-4 010 $a1-317-50677-4 024 7 $a10.4324/9781315716367 035 $a(CKB)2670000000603113 035 $a(EBL)2001984 035 $a(SSID)ssj0001562803 035 $a(PQKBManifestationID)16210951 035 $a(PQKBTitleCode)TC0001562803 035 $a(PQKBWorkID)14835540 035 $a(PQKB)10713506 035 $a(MiAaPQ)EBC2001984 035 $a(OCoLC)958109469 035 $a(EXLCZ)992670000000603113 100 $a20180706e20151997 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aIndustrial restructuring, financial instability, and the dynamics of the postwar U.S. economy /$fDavid J. Carrier 210 1$aLondon ;$aNew York :$cRoutledge,$d2015. 215 $a1 online resource (242 p.) 225 0 $aRoutledge Library Editions: Business Cycles ;$vVolume 1 300 $aFirst published in 1997. 311 $a1-138-86062-X 311 $a1-336-22097-X 320 $aIncludes bibliographical references and index. 327 $aCover; Half Title; Title Page; Copyright Page; Original Title Page; Original Copyright Page; Dedication; Table of Contents; Tables; Figures; Preface; Introduction; Acknowledgments; I. What Did Economists Learn from the Great Depression?; Wesley Clair Mitchell; Geoffrey Moore; Jan Tinbergen; Robert A. Gordon; Victor Zarnowitz; Howard Sherman; II. How Chaos Killed the Auctioneer; Macroeconomic chaos; Theoretical implications of chaos; Chaos and the future of modeling; III. Macroeconomic Effects of Industrial Restructuring; Methodology and source data; Returns to factors of production 327 $aIntermediate and final demandProductivity and unit labor costs; Returns to capital; Employment and earnings; Conclusions; IV. Consumption Patterns and the Multiplier; Consumer credit and the propensity to consume; Consumption multipliers by income type; Consumption multipliers by industry; V. Finance, Investment, and the Business Cycle; Data and measurement; Mainstream investment theory; Financial institutions; Firms; The Federal Reserve; Endogenous money and credit; Minsky's investment theory; VI. An Empirical Model of Investment and Finance; Linear vs. nonlinear estimation 327 $aThe model and explanatory variablesInvestment model specification; Linear estimates; Nonlinear estimates; VII. A Multiplier-Accelerator Simulation Model; Derivation of stability conditions; Historical stability conditions; Simulations of factors affecting stability; Conclusions; Appendix; I. Data sources and compatibility; II. The input-output transactions table; III. Aggregation of input-output industries; IV. Data values for figures 2.1-2.12; Bibliography; Index 330 $aThis volume, originally published in 1997, examines the combined effect of financial instability and industrial restructuring on postwar economic growth and recession in the US. It sheds light on the fundamental question of whether or not these trends are positive for the economy as a whole. To explain the cyclical nature of investment and finance, institutional theory regarding financial instability is examined in depth and related to Minsky's analysis of investment behaviour. The author has created an empirical model of this behaviour which, he claims, accurately predicts historical consumpt 410 0$aRoutledge Library Editions: Business Cycles 606 $aBusiness cycles$zUnited States$xEconometric models 606 $aGross domestic product$zUnited States$xEconometric models 607 $aUnited States$xEconomic conditions$y1945-$xEconometric models 608 $aElectronic books. 615 0$aBusiness cycles$xEconometric models. 615 0$aGross domestic product$xEconometric models. 676 $a330.973092 700 $aCarrier$b David J.$0856250 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463623603321 996 $aIndustrial restructuring, financial instability, and the dynamics of the postwar U.S. economy$91911867 997 $aUNINA