World Economic Outlook - September 2011
... As used in this report, the terms “country” and “economy” do not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained ...
... As used in this report, the terms “country” and “economy” do not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained ...
physical savings - Editorial Express
... a situation in which people borrow less than what they are willing to borrow to fulfill their purchasing decisions. In a typical developing country with repressed financial system, it may not be possible for people with low level of income to borrow against future income, as they may be believed to ...
... a situation in which people borrow less than what they are willing to borrow to fulfill their purchasing decisions. In a typical developing country with repressed financial system, it may not be possible for people with low level of income to borrow against future income, as they may be believed to ...
modernized barter trade, bottom up projection under the
... However, the co-ordination principle can give more meaning in both the monetary system and the modernized barter trade system when they are pulled together to trigger economic performance. This can be more emphasized when modernized barter trade system is introduced to ensure the effectiveness of th ...
... However, the co-ordination principle can give more meaning in both the monetary system and the modernized barter trade system when they are pulled together to trigger economic performance. This can be more emphasized when modernized barter trade system is introduced to ensure the effectiveness of th ...
T.Y.B.A. Economics Paper - IV
... There is high degree of market concentration, since the fourfirm concentration ratio is often used, where the market shares of four largest firms are measured (as a percentage) since they form the major portion of the market share. An Oligopolist faces a downward sloping demand curve; however; the p ...
... There is high degree of market concentration, since the fourfirm concentration ratio is often used, where the market shares of four largest firms are measured (as a percentage) since they form the major portion of the market share. An Oligopolist faces a downward sloping demand curve; however; the p ...
ppt
... around potential output, rarely getting too far from it. • As a result, the economy’s rate of growth over long periods—say, decades—is very close to the rate of growth of potential output. • And potential output growth is determined by the factors we analyzed in the chapter on long-run economic grow ...
... around potential output, rarely getting too far from it. • As a result, the economy’s rate of growth over long periods—say, decades—is very close to the rate of growth of potential output. • And potential output growth is determined by the factors we analyzed in the chapter on long-run economic grow ...
The role of inflation-linked bonds Increasing, but still modest
... bonds over nominal bonds are clear. ILBs offer protection against inflation risk. Therefore, they should be interesting for households, firms and governments as well. They should be particularly interesting for investors who want to hold on to their investments for very long periods, say twenty year ...
... bonds over nominal bonds are clear. ILBs offer protection against inflation risk. Therefore, they should be interesting for households, firms and governments as well. They should be particularly interesting for investors who want to hold on to their investments for very long periods, say twenty year ...
Full Employment, Guideposts and Economic Stability
... who have had the good fortune to hold down steady jobs at rising wages have found that their improved money earnings, and also their accumulated savings, are partly illusory on account of the upward tendency of prices. Economic instability has not yet vanished in our country, any more than it has va ...
... who have had the good fortune to hold down steady jobs at rising wages have found that their improved money earnings, and also their accumulated savings, are partly illusory on account of the upward tendency of prices. Economic instability has not yet vanished in our country, any more than it has va ...
Cyclicality in the Fiscal Policy of Nepal
... adds aggregate demand during downturns (bad time) and withdraws demand during upturns (good time). Fiscal policy is indicated as pro-cyclical if it is expanded (expansionary) when the economy goes up (good time). Fiscal policy is indicated as acyclical (neutral) if its stance does not change over bu ...
... adds aggregate demand during downturns (bad time) and withdraws demand during upturns (good time). Fiscal policy is indicated as pro-cyclical if it is expanded (expansionary) when the economy goes up (good time). Fiscal policy is indicated as acyclical (neutral) if its stance does not change over bu ...
Slide 1
... services and sticky nominal wages. On one side, some nominal wages are in fact flexible even in the short run because some workers are not covered by a contract or informal agreement with their employers. Since some nominal wages are sticky but others are flexible, we observe that the average nomina ...
... services and sticky nominal wages. On one side, some nominal wages are in fact flexible even in the short run because some workers are not covered by a contract or informal agreement with their employers. Since some nominal wages are sticky but others are flexible, we observe that the average nomina ...
Economic Policy Uncertainty Spillovers in Booms and Busts!
... uncertainty for the U.S. and a number of other countries. When employing such index in carefully designed VAR-based analysis, they …nd that increases in the level of uncertainty associated to policy decisions can explain a non-negligible share of the business cycle in the U.S. and other industrializ ...
... uncertainty for the U.S. and a number of other countries. When employing such index in carefully designed VAR-based analysis, they …nd that increases in the level of uncertainty associated to policy decisions can explain a non-negligible share of the business cycle in the U.S. and other industrializ ...
The Aggregate
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
DP2013/03 Deep Habits, Price Rigidities and the Consumption Response to Government Spending
... raising the price, the pro…t-maximizing …rm responds to the demand shock by hiring more labor to expand production. This in turn raises the real marginal cost or equivalently lowers the mark-up of the price over the nominal marginal cost. If the expansion in labor demand exceeds the increase in labo ...
... raising the price, the pro…t-maximizing …rm responds to the demand shock by hiring more labor to expand production. This in turn raises the real marginal cost or equivalently lowers the mark-up of the price over the nominal marginal cost. If the expansion in labor demand exceeds the increase in labo ...
Document
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
33 Power Point
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
** Complementary Credit Networks and Macro-Economic Stability * * uses data from a Swiss barter network to argue that large scale internet barter helps to stabilize the business cycle. My paper was recently invited for a 2nd presentation to the Central Bank of Brazil, and is in the
... Since every WIR-credit is matched by an equal and opposite debit, the system as a whole must net to zero. Individual traders will have either positive or negative balances (“overdrafts”), the latter, in effect, a loan from the WIR-Bank. Short-term overdrafts are interest-free, with limits “individua ...
... Since every WIR-credit is matched by an equal and opposite debit, the system as a whole must net to zero. Individual traders will have either positive or negative balances (“overdrafts”), the latter, in effect, a loan from the WIR-Bank. Short-term overdrafts are interest-free, with limits “individua ...
What Is the Real Business Cycle Theory?
... Problems in Conducting Monetary Policy • The lag problem inherent in adopting fiscal policy changes is less acute for monetary policy, largely because the decisions are not slowed by the same budgetary process. • However, the length and variability of the impact lag before its effects on output and ...
... Problems in Conducting Monetary Policy • The lag problem inherent in adopting fiscal policy changes is less acute for monetary policy, largely because the decisions are not slowed by the same budgetary process. • However, the length and variability of the impact lag before its effects on output and ...
Good
... macroeconomic behavior reflects the behaviors of many individuals and firms interacting in markets. These markets of the economy are added together (or aggregated). Thus in macroeconomics we study the aggregate market(s). In microeconomics, on the other hand, we study an individual market, say, a co ...
... macroeconomic behavior reflects the behaviors of many individuals and firms interacting in markets. These markets of the economy are added together (or aggregated). Thus in macroeconomics we study the aggregate market(s). In microeconomics, on the other hand, we study an individual market, say, a co ...
The Aggregate
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
... In the short run, output deviates from its natural rate when the price level is different than expected, leading to an upward-sloping short-run aggregate supply curve. The three theories proposed to explain this upward slope are the sticky wage theory, the sticky price theory, and the misperceptio ...
2. A More Realistic Aggregate Demand
... in aggregate demand will be accompanied by increases in real output, employment, some factor prices, and the aggregate price level. The underlying factor supply curves, however, reflect the price expectations held by the suppliers of the factors. If these price expectations change, then factor suppl ...
... in aggregate demand will be accompanied by increases in real output, employment, some factor prices, and the aggregate price level. The underlying factor supply curves, however, reflect the price expectations held by the suppliers of the factors. If these price expectations change, then factor suppl ...
Near-rational exuberance
... subjective changes to the forecast which depend on the forecaster’s assessment of special circumstances that are not well summarized by the variables that are included in the econometric model. We develop a theory that takes explicit account of the effects of judgement on the behavior of macroeconom ...
... subjective changes to the forecast which depend on the forecaster’s assessment of special circumstances that are not well summarized by the variables that are included in the econometric model. We develop a theory that takes explicit account of the effects of judgement on the behavior of macroeconom ...
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.Further goals of a monetary policy are usually to contribute to economic growth and stability, to lower unemployment, and to maintain predictable exchange rates with other currencies.Monetary economics provides insight into how to craft optimal monetary policy.Monetary policy is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.Monetary policy differs from fiscal policy, which refers to taxation, government spending, and associated borrowing.