2004] legal measures of inflation 1 The Price of Macroeconomic
... Rate Cuts, N.Y. TIMES, June 4, 2003, at C1 (noting Federal Reserve chairman Alan Greenspan’s belief that inflation is not a major concern and suggesting that the Fed may be willing to cut short-term interest rates even further). See Jeff D. Opdyke, Are You Ready for Deflation?, WALL ST. J., June 5, ...
... Rate Cuts, N.Y. TIMES, June 4, 2003, at C1 (noting Federal Reserve chairman Alan Greenspan’s belief that inflation is not a major concern and suggesting that the Fed may be willing to cut short-term interest rates even further). See Jeff D. Opdyke, Are You Ready for Deflation?, WALL ST. J., June 5, ...
This PDF is a selection from a published volume
... explain the observed CPI-based real appreciations. Only 33-72 percent of it can be attributed to productivity growth induced internal real exchange rate movements; the rest can be assigned to the external real exchange rate. Egert (2002, Table 9) also reveals that productivity induced appreciation o ...
... explain the observed CPI-based real appreciations. Only 33-72 percent of it can be attributed to productivity growth induced internal real exchange rate movements; the rest can be assigned to the external real exchange rate. Egert (2002, Table 9) also reveals that productivity induced appreciation o ...
Deflation and Liberty - Satoshi Nakamoto Institute
... whether our monetary authorities can legitimately use “their” gold reserves to salvage their paper money. In fact, they have come to control these reserves through a confiscatory coup, and it is therefore not at all clear how plans for monetary reform à la Mises and Rothbard can be squared with the ...
... whether our monetary authorities can legitimately use “their” gold reserves to salvage their paper money. In fact, they have come to control these reserves through a confiscatory coup, and it is therefore not at all clear how plans for monetary reform à la Mises and Rothbard can be squared with the ...
Lecture 13
... And, adjusting for the price level, Real Aggregate Demand = Y = MV/P If we want to see the slope of the aggregate demand curve, the second equation is more convenient. Holding both the money supply and velocity constant, aggregate demand curve is a downward sloping function of price. The higher the ...
... And, adjusting for the price level, Real Aggregate Demand = Y = MV/P If we want to see the slope of the aggregate demand curve, the second equation is more convenient. Holding both the money supply and velocity constant, aggregate demand curve is a downward sloping function of price. The higher the ...
The Economic Determinants of US Presidential Approval Ratings
... incumbent. Our paper takes issue with this conventional wisdom. It finds that while both inflation and unemployment are statistically significant variables in determining presidential approval, they are not economically or practically significant. Indeed, all of the common macroeconomic variables di ...
... incumbent. Our paper takes issue with this conventional wisdom. It finds that while both inflation and unemployment are statistically significant variables in determining presidential approval, they are not economically or practically significant. Indeed, all of the common macroeconomic variables di ...
Unit V - KV Institute of Management and Information Studies
... can also accompany a situation of zero minimum wages. The extent to which structural unemployment takes place depends on a number of parameters. Higher the mobility of labor across different jobs, lower will be the structural unemployment. Along with the mobility of labour, structural unemployment a ...
... can also accompany a situation of zero minimum wages. The extent to which structural unemployment takes place depends on a number of parameters. Higher the mobility of labor across different jobs, lower will be the structural unemployment. Along with the mobility of labour, structural unemployment a ...
Monetary Policy Coordination, Monetary Integration and Other Essays
... observers, the project of economic integration in the region had been initiated several times before the signing of the Asuncion Treaty in 1991. Marked by a history of alternating rivalries and alliances, Argentina and Brazil started to discuss regional economic integration in the late 1960s with t ...
... observers, the project of economic integration in the region had been initiated several times before the signing of the Asuncion Treaty in 1991. Marked by a history of alternating rivalries and alliances, Argentina and Brazil started to discuss regional economic integration in the late 1960s with t ...
4A FIRST LOOK AT MACROECONOMICS
... C) the fluctuations of real GDP around potential GDP. D) the maximum point of real GDP as the economy moves through the business cycles. Answer: B Topic: Productivity Growth Slowdown Skill: Recognition ...
... C) the fluctuations of real GDP around potential GDP. D) the maximum point of real GDP as the economy moves through the business cycles. Answer: B Topic: Productivity Growth Slowdown Skill: Recognition ...
Chapter 12 - Dr. George Fahmy
... weighted sum of the price of each good and can be found by dividing the nominal value of final output by the total units of output or by weighting each unit price by the ratio of each good's output to that of total output. The average price of output is $1.84. (b) The nominal value of final output h ...
... weighted sum of the price of each good and can be found by dividing the nominal value of final output by the total units of output or by weighting each unit price by the ratio of each good's output to that of total output. The average price of output is $1.84. (b) The nominal value of final output h ...
THE RETURN OF THE WAGE PHILLIPS CURVE
... empirical relation between wage inflation and the unemployment rate in the United Kingdom over the period 1861–1957. His analysis was subsequently replicated using US data by Samuelson and Solow (1960), who showed that a similar empirical relation had been prevalent in the United States, with the ex ...
... empirical relation between wage inflation and the unemployment rate in the United Kingdom over the period 1861–1957. His analysis was subsequently replicated using US data by Samuelson and Solow (1960), who showed that a similar empirical relation had been prevalent in the United States, with the ex ...
Chapter 27 The Phillips Curve and Expectations Theory 1. The
... a. Incorrect. According to adaptive expectations theory, an increase in the aggregate demand curve from AD1 to AD2 will cause the economy to move from E1 to E2 initially and then eventually move to E3. b. Incorrect. According to adaptive expectations theory, an increase in the aggregate demand curve ...
... a. Incorrect. According to adaptive expectations theory, an increase in the aggregate demand curve from AD1 to AD2 will cause the economy to move from E1 to E2 initially and then eventually move to E3. b. Incorrect. According to adaptive expectations theory, an increase in the aggregate demand curve ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... system, disturbances in the public’s demand for money, or other disturbances affecting the demand for goods, a policy of holding nominal GNP steady insulates the economy; neither real income nor the price level need be affected. In the event of disturbances to supply, such as the oil price increases ...
... system, disturbances in the public’s demand for money, or other disturbances affecting the demand for goods, a policy of holding nominal GNP steady insulates the economy; neither real income nor the price level need be affected. In the event of disturbances to supply, such as the oil price increases ...
Monetary policy Framework of Ethiopia
... As a routine activity of the Bank, all major economic and financial indicators will be monitored and the MPC briefed on these issues every quarter. These indicators include liquidity of the banking system, inflation and exchange rate trends, financial market developments, foreign exchange reserve po ...
... As a routine activity of the Bank, all major economic and financial indicators will be monitored and the MPC briefed on these issues every quarter. These indicators include liquidity of the banking system, inflation and exchange rate trends, financial market developments, foreign exchange reserve po ...
What`s so Great about the Great Moderation?
... World War II, and then drop rapidly until the mid- to late 1960s. This Postwar Moderation typically yields the largest decline in output growth volatilities. For all countries, volatilities of both output growth and inflation fall more during this Postwar Moderation than during the Great Moderation, ...
... World War II, and then drop rapidly until the mid- to late 1960s. This Postwar Moderation typically yields the largest decline in output growth volatilities. For all countries, volatilities of both output growth and inflation fall more during this Postwar Moderation than during the Great Moderation, ...
Is Numérairology the Future of Monetary Economics?
... Woodford (2003) as the limit of an economy in which central bank currency serves as both means of payment and numéraire, as the demand for currency as a means of payment goes to zero. The fact that the choice of numéraire has implications for the existence of a liquidity trap would not be of practic ...
... Woodford (2003) as the limit of an economy in which central bank currency serves as both means of payment and numéraire, as the demand for currency as a means of payment goes to zero. The fact that the choice of numéraire has implications for the existence of a liquidity trap would not be of practic ...
NBER WORKING PAPER SERIES Junhee Lee Joonhyuk Song
... increases seem to slowly pass the impact to the price of non-energy goods and services and led to dissociation between the headline and core inflation. This widening gap between two measures of inflation re-ignites debates over which inflation measure the central bank should focus has been resurfac ...
... increases seem to slowly pass the impact to the price of non-energy goods and services and led to dissociation between the headline and core inflation. This widening gap between two measures of inflation re-ignites debates over which inflation measure the central bank should focus has been resurfac ...
A model of secular stagnation
... deleveraging - rather than facilitating the transition to a new steady state with a positive interest rate - will instead reduce the real rate even further by increasing the supply of savings in the future. The point here is not to predict that the natural rate of interest will necessarily remain ne ...
... deleveraging - rather than facilitating the transition to a new steady state with a positive interest rate - will instead reduce the real rate even further by increasing the supply of savings in the future. The point here is not to predict that the natural rate of interest will necessarily remain ne ...
and Uncertain Fiscal Financing - Federal Reserve Bank of Kansas City
... which is treated as an absorbing state for promised transfers. Both before and after the switch to the explosive transfers process, tax policy passively adjusts the distorting tax rate to try to stabilize government debt, while monetary policy is active, obeying a Taylor rule that aims to target the ...
... which is treated as an absorbing state for promised transfers. Both before and after the switch to the explosive transfers process, tax policy passively adjusts the distorting tax rate to try to stabilize government debt, while monetary policy is active, obeying a Taylor rule that aims to target the ...
Central banks and financial crises
... operationalization of the price stability objective is the responsibility of the Chancellor of the Exchequer. It takes the form of a 2 percent annual target inflation rate for the headline consumer price index or CPI. The ECB sets its own operational inflation target, an annual rate of inflation for ...
... operationalization of the price stability objective is the responsibility of the Chancellor of the Exchequer. It takes the form of a 2 percent annual target inflation rate for the headline consumer price index or CPI. The ECB sets its own operational inflation target, an annual rate of inflation for ...
Demographic factors affecting macroeconomic
... financial crisis. Bachmann, Ruediger and Sims (2010) document the concerns of both important policy makers and economists on how consumer confidence was affecting the strength of the recovery after the recession. While there has been theoretical work on how confidence can drive fluctuations in a wor ...
... financial crisis. Bachmann, Ruediger and Sims (2010) document the concerns of both important policy makers and economists on how consumer confidence was affecting the strength of the recovery after the recession. While there has been theoretical work on how confidence can drive fluctuations in a wor ...