Title: Money, capital formation and economic growth : international comparison with time series analysis /
Authors: Amano, Masanori, 1945-
Publisher: Palgrave Macmillan,
Year: 2013
Subjects: Macroeconomics.; Time-series analysis.; Finance; Economic development; BUSINESS & ECONOMICS Economics Macroeconomics.; POLITICAL SCIENCE Economic Conditions.; Economic growth.; Macroeconomics.; Economics.; Economic development; Macroeconomics; Finance; Time-series analysis
Abstract: This book presents new methods for resolving important puzzles in macro-dynamic analysis: firstly detecting causal relations among changing dynamic variables; and secondly estimating the divisions of nominal income change into output change and price level change. The first topic is the basis of analysis of economic growth and business cycle phenomena, and as such has significant policy implications both in the medium and long term, for economic growth and development. The second topic is a quest for Milton Freidman's 'missing equations'; since this topic is vital for any analysis of inflation and output growth, and builds on Philips' curve phenomena, it will have important consequences for current policy discussions. Amano builds on careful empirical analyses, examining data from different countries and periods.
Contents: Machine generated contents note: PART I -- 1.The `Missing Equations' for Postwar USA, UK, and Japan -- 2.Estimating the `Missing Equations' for Developing Countries -- 3.A Quest for the `Missing Equations' in OECD Countries -- PART II -- 4.The NAIRU, Potential Output, and the Kalman Filter: A Survey and Method of Estimation -- 5.The NAIRU, Potential Output, and Okun's Law: Postwar USA, UK, and Japan -- PART III -- 6.Finance and Growth: VARs with Cointegration for the USA, the UK, and Japan -- 7.Financial Structure and Economic Growth: Evidence from the USA, the UK, and Japan -- PART IV -- 8.Has Growth Been Led by Investment or Exports? Prewar and Postwar US, UK, and Japan -- 9.Was It Investment or Exports That Led Economic Growth? 13 Developing Country Experiences.