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1

The cause and effect of cycles

100%
Brody A.
Kozgazdasagi Szemle (Economic Review)
|
2007
|
vol. 54
|
issue 10
903-914
EN
A cycle can be described mathematically, which also allows its course to be predicted. Yet the damage caused by fluctuation is hard to quantify, except as lost utilization of potential production. The deeper cause of the phenomenon and its real consequences are revealed by economic historical argument and description. In Hungary in the last decade and a half, cycles have caused some severe losses.
2

CHRONIC DEPRESSION - THE MOVEMENT OF THE STOCK-MARKET INDEX (A tartos depressziorol - a tozsdeindex mozgasa)

100%
Brody A.
Kozgazdasagi Szemle (Economic Review)
|
2009
|
vol. 56
|
issue 2
119-132
EN
The operation and disturbances of the US stock market around the turn of the millennium were treated in detail by Shiller (2000) and Soros (2008). Since the present protracted and general depression will have deep effects on the operation, theories and regulation of the economy, it is worth re-examining the forms in which it developed. The study puts forward a mathematical line of argument, but without formulae or equations, concerned with the operation of the economy, its pattern of movement, and the scope for modelling it. The flexibility of the group of models describing the mutual financial effects allows a better fit and forecasting ability than before, while revealing the theoretical roots of the present difficulties.
3

CHANGING MONEY TO MONEY. MONEY ABUNDANCE AND SHORTAGE (A penz csereje penzre. Penzboseg es penzszuke)

100%
Brody A.
Kozgazdasagi Szemle (Economic Review)
|
2009
|
vol. 56
|
issue 12
1110-1124
EN
Money circulation and credit mainly serve production and consumption, but purely monetary transactions - changing one type of money into another - can operate in other ways. The author seeks clear statistical knowledge and bases for describing and interpreting this activity, possibly for regulating it, and for accelerating and slowing its turnover. Stock marketization in its present form has proved to be dangerous as the events and imbroglios of the world stock-market crisis show. The study also impinges on the causes and effects of this.
4

The symmetries of the Goodwin Model. Contradiction and reconciliation among economic paradigms

63%
Brody A., Abel I.
Kozgazdasagi Szemle (Economic Review)
|
2008
|
vol. 55
|
issue 4
333-343
EN
Recognition of the duality and symmetries of economic motion offers researchers a new concept. As in the sciences of the last century, the debate between 'causes' and 'objectives' dies down. The basic question today is not seemingly contradictory paradigms or logical rivalry among schools, but correct and easily measurable description of the movement. In seeking a simpler and more comprehensible explanation, the authors examine the mathematical methods of creating theories and models. For this reason, they examine the cycle model of Goodwin, which is accepted by both schools. The causal or teleological explanation and the criteria of costs and of output are equally satisfactory, and a realistic description of economic cycles is arrived at by analysing the calculation practice of a model that satisfies and is based upon both.
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