Detail práce

An empirical approach to understanding Japan’s secular stagnation through Austrian business cycle theory

Autor: Bc. Daniel Kessl
Rok: 2017 - letní
Vedoucí: Mgr. Pavel Ryska MPhil
Konzultant:
Typ práce: Bakalářská
Jazyk: Anglicky
Stránky: 34
Ocenění:
Odkaz: https://is.cuni.cz/webapps/zzp/detail/185467/
Abstrakt: The present thesis estimates an econometric model based on the Austrian business cycle
theory on data from the ‘lost decades’ in Japan – a period of economic stagnation from 1990
to 2010. The results show a negative significant effect both of the ratio of consumption to
investment expenditure and the term spread on aggregate economic activity, a result
consistent with the expectations and with other empirical studies done on the subject. Overall,
the estimation confirms the hypothesis of Austrian business cycle theory that monetary shocks
explain business cycles.
Prosinec 2017
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