Transition Report 2012 - INTEGRATION ACROSS BORDERS
... 2008. What started as a banking crisis in a small group of countries has transformed into a sovereign crisis in the eurozone which has in turn weakened European banks and led to a withdrawal of funding from emerging Europe and to some extent from the southern and eastern Mediterranean (referring to ...
... 2008. What started as a banking crisis in a small group of countries has transformed into a sovereign crisis in the eurozone which has in turn weakened European banks and led to a withdrawal of funding from emerging Europe and to some extent from the southern and eastern Mediterranean (referring to ...
Inflation: Causes and Consequences
... changes in the price level may cause producers to change their output. Hence the actual level of output can be less than or greater than the level that is consistent with long-run full employment. In the long run, the aggregate supply curve is vertical at the full employment level of output. What is ...
... changes in the price level may cause producers to change their output. Hence the actual level of output can be less than or greater than the level that is consistent with long-run full employment. In the long run, the aggregate supply curve is vertical at the full employment level of output. What is ...
Debt sustainability: how to assess whether a country is insolvent
... of trade balances, current account balance, primary fiscal balances, foreign debt and public debt that are consistent with a country or a government being solvent. A more restrictive, practical, solvency criterion suggests that the debt to GDP ratio (or the ratio of debt to some other measure of the ...
... of trade balances, current account balance, primary fiscal balances, foreign debt and public debt that are consistent with a country or a government being solvent. A more restrictive, practical, solvency criterion suggests that the debt to GDP ratio (or the ratio of debt to some other measure of the ...
keynes – revolution and counter- revolution - Post
... Therefore, orthodox thinking supposed that a person added to total demand as much by saving as he/she did by purchasing consumer products, incredible as that may seem to the layperson. It was assumed that what was saved was available to fund investment in new capital equipment. In terms of causatio ...
... Therefore, orthodox thinking supposed that a person added to total demand as much by saving as he/she did by purchasing consumer products, incredible as that may seem to the layperson. It was assumed that what was saved was available to fund investment in new capital equipment. In terms of causatio ...
the impact of changes in bank ownership structure
... profit maximizing opportunities than government or domestic blockholder-controlled banks, which may have ulterior motives. These foreign banks will thus be more likely to direct investment to those firms or industries with better prospects. This will lead to the observed positive impact of increased ...
... profit maximizing opportunities than government or domestic blockholder-controlled banks, which may have ulterior motives. These foreign banks will thus be more likely to direct investment to those firms or industries with better prospects. This will lead to the observed positive impact of increased ...
How the Economic Machine Works – Leveragings and Deleveragings
... assets, and they can pay for them with either 1) money or 2) credit. In a market-based system, this exchange takes place through free choice – i.e., there are “free markets” in which buyers and sellers of goods, services and financial assets make their transactions in pursuit of their own interests. ...
... assets, and they can pay for them with either 1) money or 2) credit. In a market-based system, this exchange takes place through free choice – i.e., there are “free markets” in which buyers and sellers of goods, services and financial assets make their transactions in pursuit of their own interests. ...
analysing uk fiscal policy - UK Government Web Archive
... This prudent approach is implemented, among other things, by adopting a cautious assumption about the economy's trend growth rate. The Government's economic policies are designed to raise this growth rate beyond the level assumed for fiscal policy purposes. For the purposes of fiscal planning, howev ...
... This prudent approach is implemented, among other things, by adopting a cautious assumption about the economy's trend growth rate. The Government's economic policies are designed to raise this growth rate beyond the level assumed for fiscal policy purposes. For the purposes of fiscal planning, howev ...
Output Gap, Recessions and Fiscal Discretion
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...
EUI, Florence October 2013 More Habits than
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. • Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. • Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...
Fiscal policy and private saving in Australia
... As mentioned above, it is likely that the Australian economy has been subject to a substantial amount of structural change over the past 50 years. From the 1950s through to the early 1980s, the economy was heavily regulated, with markets subject to price controls and tariff protection, a fixed excha ...
... As mentioned above, it is likely that the Australian economy has been subject to a substantial amount of structural change over the past 50 years. From the 1950s through to the early 1980s, the economy was heavily regulated, with markets subject to price controls and tariff protection, a fixed excha ...
The IS-LM Model - Spears School of Business
... Y = aggregate income = aggregate output T = taxes The consumption function: C = a + (mpc × YD ) ...
... Y = aggregate income = aggregate output T = taxes The consumption function: C = a + (mpc × YD ) ...
African Debt since HIPC
... International debt relief efforts for low-income countries (LICs) gained traction in the late 1990s and built momentum through the 2000s. These initiatives, mainly comprising the Heavily Indebted Poor Countries (HIPC) Initiative, its close cousin the Multilateral Debt Relief Initiative (MDRI), and P ...
... International debt relief efforts for low-income countries (LICs) gained traction in the late 1990s and built momentum through the 2000s. These initiatives, mainly comprising the Heavily Indebted Poor Countries (HIPC) Initiative, its close cousin the Multilateral Debt Relief Initiative (MDRI), and P ...
Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis ∗ Jeffrey R. Campbell
... the expectations theory of the term structure holds good and real rates should not be affected much beyond the duration of price stickiness. These findings raise questions about the use of standard NK models for identifying the effects of Odyssean forward guidance. Therefore we reconsider the Hanson ...
... the expectations theory of the term structure holds good and real rates should not be affected much beyond the duration of price stickiness. These findings raise questions about the use of standard NK models for identifying the effects of Odyssean forward guidance. Therefore we reconsider the Hanson ...
Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy ∗ Eric M. Leeper
... New Keynesian model.4 In fact, the results under discretion in Leith and Wren-Lewis (2013) suggest that there are massive non-linearities - for example, there is an overshooting in the debt correction in a single period when the economy is linearized around higher steady state debt levels, but a mor ...
... New Keynesian model.4 In fact, the results under discretion in Leith and Wren-Lewis (2013) suggest that there are massive non-linearities - for example, there is an overshooting in the debt correction in a single period when the economy is linearized around higher steady state debt levels, but a mor ...
NBER WORKING PAPER SERIES GOVERNMENT SPENDING AND PRIVATE ACTIVITY Valerie A. Ramey
... government spending. I show that whether one uses structural vector autoregressions (SVARs) or expectational vector autoregressions (EVARS), whether the sample includes WWII and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact ...
... government spending. I show that whether one uses structural vector autoregressions (SVARs) or expectational vector autoregressions (EVARS), whether the sample includes WWII and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact ...
modules 31 to 35
... e) Go back. What should they do to those tools if expansionary policies are put into place. ...
... e) Go back. What should they do to those tools if expansionary policies are put into place. ...
"Does Government Spending Stimulate Private Activity?"
... government spending. I show that whether one uses structural vector autoregressions (SVARs) or expectational vector autoregressions (EVARS), whether the sample includes WWII and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact ...
... government spending. I show that whether one uses structural vector autoregressions (SVARs) or expectational vector autoregressions (EVARS), whether the sample includes WWII and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact ...
Effectiveness of devaluation in achieving Internal and External
... among other things, to in appropriate trade and payment policies, such as overvalued exchange reassess and exchange controls, high tariffs and quantitative restrictions which result in a divergence between world prices and domestic prices leading to policy induced distortion with a considerable macr ...
... among other things, to in appropriate trade and payment policies, such as overvalued exchange reassess and exchange controls, high tariffs and quantitative restrictions which result in a divergence between world prices and domestic prices leading to policy induced distortion with a considerable macr ...
The Effects of Fiscal Policy on Output in Belize
... economic thought. More specifically, the effects of fiscal policy on aggregate demand can be described as having either non-Keynesian or Keynesian effects. ...
... economic thought. More specifically, the effects of fiscal policy on aggregate demand can be described as having either non-Keynesian or Keynesian effects. ...
Government Debt and Deficits
... “And forgive us our debts, as we also have forgiven our debtors.” While the clear intension of the use of the word “debts” is in regard to moral debts, nonetheless France (1985) notes that the word debts is the regular Aramaic term for sin which literally indicates a monetary debt. Luke uses a more ...
... “And forgive us our debts, as we also have forgiven our debtors.” While the clear intension of the use of the word “debts” is in regard to moral debts, nonetheless France (1985) notes that the word debts is the regular Aramaic term for sin which literally indicates a monetary debt. Luke uses a more ...
THE MIT DICTIONARY OF MODERN ECONOMICS
... Preface to the First Edition The idea for this dictionary of economics originated within the reference books division of Macmillan Press. When we were approached to put that idea into practice there was widespread agreement that there was a need for something different in this area of reference stu ...
... Preface to the First Edition The idea for this dictionary of economics originated within the reference books division of Macmillan Press. When we were approached to put that idea into practice there was widespread agreement that there was a need for something different in this area of reference stu ...
Estimating the e®ects of ¯scal policy in OECD countries Roberto Perotti
... While most economists would agree that an exogenous 10 percent increase in money supply will lead to some increase in prices after a while, perfectly reasonable economists can and do disagree even on the basic qualitative e®ects of ¯scal policy. For instance, neoclassical models predict that private ...
... While most economists would agree that an exogenous 10 percent increase in money supply will lead to some increase in prices after a while, perfectly reasonable economists can and do disagree even on the basic qualitative e®ects of ¯scal policy. For instance, neoclassical models predict that private ...
Budget Deficits, National Saving, and Interest Rates
... exchange rates, future domestic production, or future national income. A second model, the small open economy view, suggests that budget deficits do reduce national saving but, at the same time, induce increased capital inflows from abroad that finance the entire reduction. As a result, domestic pro ...
... exchange rates, future domestic production, or future national income. A second model, the small open economy view, suggests that budget deficits do reduce national saving but, at the same time, induce increased capital inflows from abroad that finance the entire reduction. As a result, domestic pro ...
Monetary Policy According to HANK ∗ Greg Kaplan Benjamin Moll
... small changes in interest rates (consistent with evidence in Vissing-Jorgensen, 2002, that non-asset holders do not respond to interest rate cuts). Third, these same survey data reveal vast inequality in wealth holdings and composition across households (Diaz-Gimenez et al., 2011). Some households m ...
... small changes in interest rates (consistent with evidence in Vissing-Jorgensen, 2002, that non-asset holders do not respond to interest rate cuts). Third, these same survey data reveal vast inequality in wealth holdings and composition across households (Diaz-Gimenez et al., 2011). Some households m ...