Sample Chapter 2 (PDF, 28 Pages
... understand the concept of measuring domestic output, consider, for example, Toyota and TD Bank. Toyota is a Japanese company that produces cars in Canada. Canadian GDP includes the value of those cars. The TD Bank, which is a Canadian company, has a large presence in the United States. The value of ...
... understand the concept of measuring domestic output, consider, for example, Toyota and TD Bank. Toyota is a Japanese company that produces cars in Canada. Canadian GDP includes the value of those cars. The TD Bank, which is a Canadian company, has a large presence in the United States. The value of ...
Econometric Evidence on the Determinants of the Mark Up
... context, firms cannot fully evaluate the consequences of their actions, and therefore determine for sure the price that maximizes their profits. So, the mark up becomes the strategic variable firms manipulate in search of their maximization targets. In oligopolistic markets operating under full capa ...
... context, firms cannot fully evaluate the consequences of their actions, and therefore determine for sure the price that maximizes their profits. So, the mark up becomes the strategic variable firms manipulate in search of their maximization targets. In oligopolistic markets operating under full capa ...
NBER WORKING PAPER SERIES IMPORTED MATERIAlS PRICES, WAGE POLICY, AND MACROECONOMIC STABILIZATION
... the costs of alternative policies, as the analysis makes clear. Only when these costs are taken into account can sensible decisions about wage indexation and employment policy be made. The setting of this analysis is a small open economy under flexible ...
... the costs of alternative policies, as the analysis makes clear. Only when these costs are taken into account can sensible decisions about wage indexation and employment policy be made. The setting of this analysis is a small open economy under flexible ...
NBER WORKING PAPER SERIES DSGE MODELS FOR MONETARY POLICY ANALYSIS Mathias Trabandt
... this purpose. We show that whether the HP filter is a good estimator of the gap depends sensitively on the details of the underlying model economy. This discussion involves a careful review of the intuition of how the New Keynesian model responds to shocks. Interestingly, a New Keynesian model fit t ...
... this purpose. We show that whether the HP filter is a good estimator of the gap depends sensitively on the details of the underlying model economy. This discussion involves a careful review of the intuition of how the New Keynesian model responds to shocks. Interestingly, a New Keynesian model fit t ...
The Impact of Foreign Interest Rates on the Economy
... addition, the results are presented across different empirical models (fixed effect panel and random coefficients models) and hold even more strongly when using investment growth rather than GDP growth. The main finding thus implies that there are real costs to the loss of monetary autonomy that com ...
... addition, the results are presented across different empirical models (fixed effect panel and random coefficients models) and hold even more strongly when using investment growth rather than GDP growth. The main finding thus implies that there are real costs to the loss of monetary autonomy that com ...
Norwegian business cycles 1982–2003
... seasonal and irregular components of each original series, which obscure the cyclical ‡uctuations of primary interest. An alternative technique popular in the business cycle literature is Baxter and King’s (1999) bandpass …lter. This …lter was applied by Stock and Watson (1998) on US data and Agres ...
... seasonal and irregular components of each original series, which obscure the cyclical ‡uctuations of primary interest. An alternative technique popular in the business cycle literature is Baxter and King’s (1999) bandpass …lter. This …lter was applied by Stock and Watson (1998) on US data and Agres ...
A Post-Keynesian model of the business cycle Pedro Leão ISEG
... models were abandoned because of the lack of realism of that rigid form of the accelerator and because they failed to reproduce the main features of real-world cycles. In contrast, our investment function relies on a more flexible form of the accelerator, which is more in line with the empirical evi ...
... models were abandoned because of the lack of realism of that rigid form of the accelerator and because they failed to reproduce the main features of real-world cycles. In contrast, our investment function relies on a more flexible form of the accelerator, which is more in line with the empirical evi ...
vsi09 ss Dubovyk new 10147616 en
... the empirical public …nance literature, an individual’s schooling or labor force participation decisions determine the evolution of labor productivity over the life-cycle. For example, Imai and Keane (2004) show the importance of human capital accumulation in estimating the intertemporal elasticity ...
... the empirical public …nance literature, an individual’s schooling or labor force participation decisions determine the evolution of labor productivity over the life-cycle. For example, Imai and Keane (2004) show the importance of human capital accumulation in estimating the intertemporal elasticity ...
Chapter 21 - McGraw Hill Higher Education
... Introduction • An important part of economic analysis is speculation about the impact of the new data on monetary policy. • The FOMC in the U.S. and the Governing Council in the Euro area always tie their policy actions to current and expected future economic conditions. • Traders are trying to out ...
... Introduction • An important part of economic analysis is speculation about the impact of the new data on monetary policy. • The FOMC in the U.S. and the Governing Council in the Euro area always tie their policy actions to current and expected future economic conditions. • Traders are trying to out ...
Ch 6
... Looking at the NPV profile developed in Part a, the crossover rate is between 14 and 15 percent, or approximately 14.5%. To determine exactly where the crossover rate is, proceed as follows: Construct a Project Δ, which is the difference in the two projects’ cash flows: ...
... Looking at the NPV profile developed in Part a, the crossover rate is between 14 and 15 percent, or approximately 14.5%. To determine exactly where the crossover rate is, proceed as follows: Construct a Project Δ, which is the difference in the two projects’ cash flows: ...
CHAP1.WP (Word5)
... change in a variable plotted on the two axes will cause a movement along the curve, while any change in the factors affecting the curve but not on either of the axes will shift the curve. This is explained in the “Learning About Diagrams” box in Section 3-10. Your more mathematically inclined studen ...
... change in a variable plotted on the two axes will cause a movement along the curve, while any change in the factors affecting the curve but not on either of the axes will shift the curve. This is explained in the “Learning About Diagrams” box in Section 3-10. Your more mathematically inclined studen ...
Measuring the equilibrium real interest rate
... of the equilibrium RIR. We find that this rate has been negative at times, particularly in the late 1970s and, most interestingly, during the latest recession. Second, we estimate the short-term RIR gap as the difference between the current (as opposed to future) ex ante RIR and the equilibrium RIR. ...
... of the equilibrium RIR. We find that this rate has been negative at times, particularly in the late 1970s and, most interestingly, during the latest recession. Second, we estimate the short-term RIR gap as the difference between the current (as opposed to future) ex ante RIR and the equilibrium RIR. ...
NBER WORKING PAPER SERIES
... yet the European wage gap index for manufacturing has fallen steadily since the late 1970s and is now well below the value of the same index for U. S. ...
... yet the European wage gap index for manufacturing has fallen steadily since the late 1970s and is now well below the value of the same index for U. S. ...
Aggregate Demand, Aggregate Supply and Economic Growth
... One distinction between this model and the standard neoclassical synthesis model is that its long-run equilibrium rate of unemployment is some constant, rather than at a particular exogenously specified full employment rate.12 The reason why this model does not result in an exogenously-specified uni ...
... One distinction between this model and the standard neoclassical synthesis model is that its long-run equilibrium rate of unemployment is some constant, rather than at a particular exogenously specified full employment rate.12 The reason why this model does not result in an exogenously-specified uni ...
MacroLab Documentation - BORA
... in words or models. Suitable also means that the behavior generated endogenously by the model’s structure is more or less consistent with the behavior described by standard undergraduate macroeconomics textbook models—whether in narrative, diagrammatic, graphical, or mathematical form. Even mainstre ...
... in words or models. Suitable also means that the behavior generated endogenously by the model’s structure is more or less consistent with the behavior described by standard undergraduate macroeconomics textbook models—whether in narrative, diagrammatic, graphical, or mathematical form. Even mainstre ...
PROBLEMS FOR CHAPTER 1
... 4. (a) What is the cost of the North Korean 2009 missile launch, according to South Korea (p. 10)? (b) How many people could have been fed for an entire year at the World Bank standard of $2 per day with that money? ...
... 4. (a) What is the cost of the North Korean 2009 missile launch, according to South Korea (p. 10)? (b) How many people could have been fed for an entire year at the World Bank standard of $2 per day with that money? ...
Shifting to a Green Economy - Stockholm Environment Institute
... transition are likely to be modest at best, and offer benefits in the near term that often exceed the costs (Global Commission on the Economy and Climate 2014). This raises the question of why these opportunities have not led to a widespread shift towards low-carbon economies. There have, indeed, be ...
... transition are likely to be modest at best, and offer benefits in the near term that often exceed the costs (Global Commission on the Economy and Climate 2014). This raises the question of why these opportunities have not led to a widespread shift towards low-carbon economies. There have, indeed, be ...
The Role of Firm-Level Productivity Growth for the Optimal Rate of
... It selects a financial portfolio of nominal claims with payoff Qt+1 . The price of this portfolio at date t is Ωt,t+1 Qt+1 , where Ωt,t+1 is the unique discount factor, to be determined by complete financial markets. The household consumes and it receives (1 − τL )Wt `t as labor income net of taxes. ...
... It selects a financial portfolio of nominal claims with payoff Qt+1 . The price of this portfolio at date t is Ωt,t+1 Qt+1 , where Ωt,t+1 is the unique discount factor, to be determined by complete financial markets. The household consumes and it receives (1 − τL )Wt `t as labor income net of taxes. ...