Economic Freedom and The Business Cycle: The Egyptian Experience

O. Mikhail ()

Macroeconomics from EconWPA

Abstract: Most studies that emphasize and encourage the shift towards a less regulated and financially open system rest on the premise of a prosperous growth prospect. Accordingly, interests have focused on growth models as a framework to understand and to analyze the effects of economic freedom. In this paper, we investigate the short-run characteristics of economic freedom. Using a stochastic general equilibrium framework, we argue that economic reforms tend to ease periods of recessions, increase welfare, and alleviate the burden of unemployment. Calibrated to the Egyptian economy, we simulate our model and investigate the [robust] relationship between economic reforms and the business cycle.

Keywords: Economic Freedom; Washington Consensus; Business Cycle; Egypt. (search for similar items in EconPapers)
JEL-codes: D90 E32 P11 P16 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge
Date: Written 2004-02-02
Note: Type of Document - pdf; prepared on Win98; pages: 37; figures: 8
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http://129.3.20.41/eps/mac/papers/0402/0402002.pdf (application/pdf)

Related works:
Journal Article: Economic Freedom and the Business Cycle: The Egyptian Experience (2007)
Journal Article: Economic freedom and the business cycle: The Egyptian experience (2005)
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