Economic Freedom and The Business Cycle: The Egyptian Experience

O. Mikhail ()

Macroeconomics from University Library of Munich, Germany

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)
Pages: 37 pages
Date: 2004-02-02
New Economics Papers: this item is included in nep-dge
Note: Type of Document - pdf; prepared on Win98; pages: 37; figures: 8
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0402/0402002.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0402002

Access Statistics for this paper

More papers in Macroeconomics from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).