Specifically, job losses for the Slovak Republic, Poland, Lithuania, Latvia, Estonia and the Czech Republic during downswings are comparable with those found by Cuaresma (2003) and Silvapulle et al.
Our results imply a limited flexibility of labor markets in transition economies and mostly larger unemployment response in downswing than upswing regimes implying poor job growth in recoveries in all countries except for Latvia, Poland, Slovak Republic and Slovenia.
ij] are the fixed transition probabilities of being in an upswing or downswing regime, respectively.
The estimates of Okun coefficients are negative for all countries in the upswing and downswing regimes and these results are in line with a priori expectations.
The authors say brand manufacturers should try to maintain--or if possible even raise--current marketing spending during downswings
because marketing plays an important role in helping protect market share.
Special reference is given to whether Australia has been going through long wave upswing or downswing over recent decades, and whether suitable social structures of accumulation are currently in place to propel sustainable growth in the long-term.
5 percent growth per capita); and long wave downswing (below 2.
Long wave theory is the philosophy that capitalism undergoes long movements in core performance, including upswing and downswing, beyond simply business cycles.
Clark said the sequence of the downswing
should go as follows: The big muscles of the body should initiate the downswing
, followed by the arms, then the hands then finally the golf club.
The findings support the view that innovation-based growth and job creation may operate in drastically different ways during different phases of the cycle, suggesting the need to move beyond the assumption that employment dynamics are affected by the same factors and in the same way in upswings and downswings.
In endogenous growth studies, downswings can stimulate productivity and foster long-term growth through a process of restructuring and reorganization of activities where inefficient firms are crowded out, raising the rate of productivity growth of the whole economic system (Caballero and Hammour, 1991; Aghion and Saint-Paul, 1998).
Conversely, during downswings, the lack of demand may discourage the introduction of new products and may increase competition based on costs and prices, leading industries to focus on new processes that allow labour saving and cost cutting in the context of restructuring and exit of less-efficient firms.
Participants, however, must be aware of the latest emerging trends and information to survive any economic downswings
propelled by the highly cyclic nature of the automotive market.
The survey is conducted every month and over time is meant to develop an early warning system of upswings and downswings
in the Silicon Valley economy.
Pending tangible evidence the pattern has changed, stocks should be given the benefit of the doubt on downswings