Josef Platzer's Books

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

By: Josef Platzer,Marcel Peruffo

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Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

By: Josef Platzer,Marcel Peruffo

We develop a heterogeneous agent, overlapping generations model with nonhomothetic preferences that nests several explanations for the decline in the natural rate of interest (r∗) suggested in the literature: demographic change, a slowdown in productivity growth, a rise in income inequality, and public policy. The model can account for a 2.2 percentage point (pp) decline in r∗ between 1975 and 2015, which is within the range of empirical estimates. Rising income inequality is an important driver (-0.70 pp), and together with demographic change (-0.71 pp) and the slowdown in productivity growth (-1.0 pp) explains most of the decline. Growing public debt is the major counteracting force (+0.31 pp). Permanent income inequality is of greater importance than inequality due to uninsurable income risk, and matching the degree of nonhomotheticity in consumption and savings behavior to empirical estimates is essential for this result. We predict that r∗ will reach a low of 0.38% by 2030, after which a slow reversal will begin. The natural rate will stabilize at 1% in the long run, a low level when compared with the postwar path of r∗ implied by the model. This remains true even if we take into account soaring public debt levels due to the COVID-19 pandemic. Policy can have considerable impact on the level of r∗ through the tax and transfer system.

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International Monetary Fund

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ISBN 13

9798400200519

Low for (Very) Long? A Long-Run Perspective on R* Across Advanced Economies

By: Josef Platzer,Mr. Francesco Grigoli,Robin Tietz

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Low for (Very) Long? A Long-Run Perspective on R* Across Advanced Economies

By: Josef Platzer,Mr. Francesco Grigoli,Robin Tietz

We provide a long-run perspective on neutral interest rates with new estimates for 16 advanced economies since the 1870s using the Laubach and Williams approach. Our estimates differ substantially from commonly used proxies. We find that, while cross-country heterogeneity was significant in the past, since the 1980s the decline has been common to many countries. Traditional determinants such as population aging and productivity growth are strongly correlated with the changes in neutral rates, while others like the relative price of capital and inequality exhibit weak relationships with r*. We also find that neutral rates co-vary negatively with public debt-to-GDP ratios.

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International Monetary Fund

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ISBN 13

9798400235245

Josef Frank

Life and Work

By: Christopher Long,Josef Frank

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Josef Frank

Life and Work

By: Christopher Long,Josef Frank

Architect, designer, and theorist Josef Frank (1885-1967) was known throughout Europe in the 1920s as one of the continent's leading modernists. Yet despite his important contributions to the development of modernism, Frank has been largely excluded from histories of the movement. Josef Frank: Life and Work is the first study that comprehensively explores the life, ideas, and designs of this complex and controversial figure. Educated in Vienna just after the turn of the century, Frank became the leader of the younger generation of architects in Austria after the First World War. But Frank fell from grace when he emerged as a forceful critic of the extremes of modern architecture and design during the early 1930s. Dismissing the demands for a unified modern style, Frank insisted that it was pluralism, not uniformity, that most characterized life in the new machine age. He called instead for a more humane modernism, one that responded to people's everyday needs and left room for sentimentality and historical influences. He was able to put these ideas into practice when, in 1933, he was forced to leave Vienna for Sweden. There his work came to define Swedish (or Scandinavian) modern design. For more than thirty years he was the chief designer for the Stockholm furnishings firm Svenskt Tenn, producing colorful, cozy, and eclectic designs that provided a refreshing alternative to the architectural mainstream of the day and presaged the coming revolt against modernism in the 1960s. In this sensitive study of one of the twentieth century's seminal architects and thinkers, Christopher Long offers new insight into Josef Frank's work and ideas and provides an important contribution to the understanding of modernist culture and its history.

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Page Count

450

Publisher

University of Chicago Press

Published Date

ISBN 10

0226492664

ISBN 13

9780226492667

High Angle of Attack Aerodynamics

Subsonic, Transonic, and Supersonic Flows

By: Josef Rom

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High Angle of Attack Aerodynamics

Subsonic, Transonic, and Supersonic Flows

By: Josef Rom

The aerodynamics of aircraft at high angles of attack is a subject which is being pursued diligently, because the modern agile fighter aircraft and many of the current generation of missiles must perform well at very high incidence, near and beyond stall. However, a comprehensive presentation of the methods and results applicable to the studies of the complex aerodynamics at high angle of attack has not been covered in monographs or textbooks. This book is not the usual textbook in that it goes beyond just presenting the basic theoretical and experimental know-how, since it contains reference material to practical calculation methods and technical and experimental results which can be useful to the practicing aerospace engineers and scientists. It can certainly be used as a text and reference book for graduate courses on subjects related to high angles of attack aerodynamics and for topics related to three-dimensional separation in viscous flow courses. In addition, the book is addressed to the aerodynamicist interested in a comprehensive reference to methods of analysis and computations of high angle of attack flow phenomena and is written for the aerospace scientist and engineer who is familiar with the basic concepts of viscous and inviscid flows and with computational methods used in fluid dynamics.

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Page Count

408

Publisher

Springer Science & Business Media

Published Date

ISBN 10

1461228247

ISBN 13

9781461228240

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

By: Josef Platzer,Marcel Peruffo

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Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

By: Josef Platzer,Marcel Peruffo

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Solve jigsaw puzzle

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Publisher

International Monetary Fund

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ISBN 13

9798400200519

Book's by Josef Platzer

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

Low for (Very) Long? A Long-Run Perspective on R* Across Advanced Economies

Low for (Very) Long? A Long-Run Perspective on R* Across Advanced Economies

Josef Frank

Josef Frank

High Angle of Attack Aerodynamics

High Angle of Attack Aerodynamics

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

Secular Drivers of the Natural Rate of Interest in the United States: A Quantitative Evaluation

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