Real Business Cycle Theory and Demand Shocks Cycle Free Essay Example, 1750 words

Real business cycle models are characterized by a neglect of demand shocks and highlight technological productivity shocks that are the primary source of economic fluctuations. The strong assumptions of supply-driven dynamics and demand determined influences are considered in accordance with real business cycle theory. According to Entorf (1992), the backward propagation mechanism of demand shocks dominates the forward propagation of supply disturbances .In certain cases, business cycles are hit by productivity shocks that in turn affect consumer expectations and this has all the features of an aggregate demand shock that increases output, employment, and inflation. Productivity shock tends to have a temporary negative effect on inflation and employment (Lorenzoni, 2006). A demand shock is captured by a shift in consumer expectations and a disruption in market equilibrium or market adjustment that leads to a demand detriment and shifts in the demand curve. A demand shock can repres ent demand increase or demand decrease and an increase in demand is seen as a shift of the demand curve resulting in either increase or decrease of equilibrium quantity and price. According to Lorenzoni (2006), demand shocks can be related to changes in public sector expectations and productivity shocks can be associated with aggregate supply shocks. We will write a custom essay sample on Real Business Cycle Theory and Demand Shocks Cycle or any topic specifically for you Only $17.96 $11.86/pageorder now In the certain traditional Keynesian description and business cycle theories and models, the demand shocks or sudden growth in demand of products and services actually drive growth and business cycle and bring about changes in the market ad economy. For the real business cycle model which is seen as different and quite opposed to the demand shock cycle, the focus is on supply rather than demand and real business cycle highlights the fact that shocks or economic variations are driven by technological changes and technological or supply shocks in which there are rapid fluctuations of supply-driven by changes in technology.

Prominence of Desire and Loss in Romantic Literature Essay

The Prominence of Desire and Loss in Romantic Literature Romanticism is defined as â€Å"a sweeping but indispensable modern term applied to the profound shift in Western attitudes to art and human creativity that dominated much of European culture in the first half of the 19th century, and that has shaped most subsequent developments in literature--even those reacting against it† (Baldick). Though the time period that American Romanticism spans is rather vast and many of the literary works that spark out of this movement are unique in themselves, various unifying elements are present in these texts that categorize them as Romantic works. These elements, sometimes referred to as the â€Å"Romantic Spirit,† consist of principles such†¦show more content†¦Desire first presents itself in this letter by Columbus’ longing to conquer the land. This can be seen as he states, â€Å"And there I found very many islands filled with people innumerable, and of them all I have taken possession for their high ness, by proclamation made and with the royal standard unfurled, and no opposition was offered to me† (Columbus, â€Å"Luis† 12). Certainly, it is noticeable that Columbus enjoys this conquering of the land, especially in the latter portion of the statement, as he seems to offer the information about having no opposition as a tribute to his own greatness. Yet, his desire does not end here. Despite his excitement over the discovery and naming of these islands, it is no longer enough for him, and desire for more land tugs at his heart. Columbus, as if some land from afar is calling out to him, sends two of his men â€Å"inland to learn if there were a king or great cities† (Columbus, â€Å"Luis† 12). When they return with no news of such a land, desire rears its head again. Although he could have given up after their findings, Columbus decides not to do so. Instead, he follows the island’s coastline eastward and discovers another island, which he names â€Å"Espaà ±ola† (Columbus, â€Å"Luis† 12). Columbus views this island as the completeness of nature, meaning the total convergence of anything that people could hope for in their dreams. He describes Espaà ±ola with an utmostShow MoreRelatedThe New Idea Of Romanticism1745 Words   |  7 Pagesrevolution. Nostalgia became a topic, desire and will for personal motivation was accentuated, and this era became a profound social and cultural change that radically transformed everyday lives. Many individuals in this time liberated changes in the arts, like William Wordsworth, a writer born in 1770, who was one of the most prominent writers in the Romantic Era who stressed nature, and paid close attention to the physical world. 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Comparative Criticism of Two Museums Free Essays

Mark Moran Prof. Elizabeth Marlowe Masterpieces of Western Art November 8, 1999 Formal Comparison of Two Museums The Frick Collection and The Guggenheim Museum are both museums on 5th  Avenue in New York’s Upper East Side neighborhood, and they are both named for famous American tycoons from the early 20thcentury. But their similarities pretty much end there. We will write a custom essay sample on Comparative Criticism of Two Museums or any similar topic only for you Order Now The Frick Collection is the former residence of steel baron Henry Clay Frick who spent forty years assembling a large collection of artwork for his personal enjoyment. The Guggenheim Museum, on the other hand, was always intended as a public museum to display various art exhibits. These fundamental differences are most evident in the architectural design of the buildings themselves: the Frick building is a calm, warm house built for a family to live in while the Guggenheim building is a cold, public hall built to accommodate hundreds of art enthusiasts at a time. The styles of the architecture are quite different, and they reflect the very different styles of artwork inside. Furthermore, the shapes and layout of the buildings lend themselves to quite different viewing experiences for the visitor. From the outside, the only things the two buildings have in common is that they both dominate an entire block of 5th  Avenue and they are both white. The Frick building, designed by architect Thomas Hastings, was built from 1913-1914 in the neo-classical style prevalent in New York at the time. Classical arches, ionic columns, and outdoor gardens and fountains remind the viewer of an ancient Roman villa, much like fellow baron and art collector J. P. Getty’s museum in Malibu, CA. Elaborate decoration over the doorways and columns as well as ornamented atriums and statue niches further enhance the classic design and tranquil setting. The building is relatively horizontal, primarily one story that sprawls out much lower than the towering buildings which surround it. The Guggenheim building is just the opposite. Built in 1956 from architect Frank Lloyd Wright’s design, it is as much a vision of the future as Frick’s house is an homage to antiquity. The Guggenheim is a giant concrete and glass spiral designed with mathematical curves and no right ngles. The surfaces are all completely smooth and there is no decoration or ornamentation inside or out. The bizarre structure conjures up images of alien civilizations and challenges the viewer with its unusual shape. The Guggenheim resembles and upside-down wedding cake, which gives it a much more vertical feeling than the Frick, even though it is also shorter than the surrounding buildings. There are no living areas inside the Guggenheim, just one huge chamber with a long spiral that visitors are intended to wind down and view all the artwork from. Artwork is primarily installed along the large spiral, although there are also small rooms which come off the spiral ramp. Because visitors take the elevator to the top, they have nowhere to go but to follow the spiral down. This ensures that they see the artwork in a specific order and provides the satisfying feeling that the viewer has seen all there is to see. The Frick, however, has no set order. Even though some modifications were made by architect John Russell Pope in the 1930’s to convert it for public use, the building largely retains the feeling of a house. Just as one would expect of a house, it is a mixture or narrow hallways, living areas, large banquet rooms, and outdoor courtyards which sprawl out in various directions from the entryway. The rooms are designed for comfort and practical living, not for efficiently taking a tour. Visitors are encouraged to wander through the rooms in any particular order without guidebooks, simply enjoying the pieces as Frick himself did. This provides a relaxing and laid back setting for viewing the assorted artwork inside, but also leaves the visitor unsure of when he has finished seeing the entire collection. Since the collection doesn’t change much, seeing it all is not the point. Relaxing in the setting is. This very different interior designs demonstrate the different priorities of the museums. The Frick Collection is primarily static; that is, it is almost entirely the varied artwork collected by Frick himself (although there is a small area in the basement for temporary exhibits). There is no unifying theme of the pieces inside and Japanese vases sit right beside European paintings. Frick’s goal was to collect pieces of art that he found pleasant to live with, regardless of their genre or origin. For this reason, he had a house built to hold his artwork rather than a museum, even though he always intended to eventually bequeath it as a public collection. The Guggenheim, on the other hand, transforms itself every several months as it rotates in a new exhibit. One month it may be almost entirely 20th  century French paintings and the next month mostly Harley-Davidson motorcycles. That permanent collection of the Guggenheim is relatively small and not its main focus. The main focus of the Guggenheim is to show off a particular theme or genre of artwork assembled by professional museum curators. Since the exhibits only last a few months, the museum encourages repeat viewers who benefit from the spiral design that allows them to efficiently see the entire new show. What is consistent about that Guggenheim’s exhibits is that they are generally modern and challenging, just like the building. The design of the Frick residence is to inspire tranquility. The painting, sculpture, furniture, and pottery range from the Renaissance to the late 19th  century, and there are no violent or startling works in the collection. The building’s layout, from the peaceful fountains to the elegant columns and niches all enforce a feeling of serenity inside the building and out in its gardens. The constantly changing Guggenheim strives to do just the opposite. It’s goal is to be thought-provoking and shocking which is emphasized by its strange structure and lack of benches and resting areas, which are abundant in the Frick. Because Frick’s artwork is pre-20thcentury and somewhat traditional by today’s standards, the mansion built to house the works was designed to be as classical as possible. The building itself is a classically inspired artwork. Likewise, the Guggenheim building is an abstract, thought-provoking piece of 20th  century artwork. The Guggenheim Museum and the Frick Collection are two of New York’s most famous museums. They have fundamentally different architectural designs, both inside and out, that reflect and enhance the different goals of the museums. And yet, they both interact with their environments in a similar manner. Neither building is a large rectangle like the apartment buildings and consulate offices that tower over them. Their unusual designs which dominate entire blocks instead suggest buildings that are open to the public, just as libraries or churches do. Neither of them blends in with the surrounding buildings, and yet each one elegantly faces Central Park and adds to the neighborhood’s overall harmony. The unique shapes of these museums invite passersby to marvel at them and perhaps to come in and admire the artwork, or at least browse through the gift shops. In this sense, the different architecture of these buildings, one classical and one futuristic, produce a similar emotion in the viewer and thus achieve the same goal. How to cite Comparative Criticism of Two Museums, Essay examples