Real Fluctuations at the Zero Lower Bound
... dramatically alter the effects of real shocks at the zero lower bound. To analyze the quantitiatve impact of history-dependence, I calibrate and solve a general-equilibrium model with nominal price rigidity and a zero lower bound constraint on the central bank’s nominal policy rate. If monetary poli ...
... dramatically alter the effects of real shocks at the zero lower bound. To analyze the quantitiatve impact of history-dependence, I calibrate and solve a general-equilibrium model with nominal price rigidity and a zero lower bound constraint on the central bank’s nominal policy rate. If monetary poli ...
The Macroeconomic Effects of El Niño
... accounts for the effects of common factors (whether observed or unobserved), and ensures that the El Niño-economy relationship is identified from idiosyncratic local characteristics (using both time-series and cross-section dimensions of the data). To the extent that El Niño events are exogenously d ...
... accounts for the effects of common factors (whether observed or unobserved), and ensures that the El Niño-economy relationship is identified from idiosyncratic local characteristics (using both time-series and cross-section dimensions of the data). To the extent that El Niño events are exogenously d ...
Economics 05.17.11 Economics Tuesday
... Just yesterday, economists polled by the National Association of Business Economics shaved half a percent from ...
... Just yesterday, economists polled by the National Association of Business Economics shaved half a percent from ...
- Munich Personal RePEc Archive
... Because our focus is on NGAP, our determination of quarter 0 for some recessions differs from the official beginning of some recessions. Table 1 summarizes our analysis that led to the determination of what quarter to treat as quarter 0. For the Recession of 1949 and the 1973-1975 Recession, the sig ...
... Because our focus is on NGAP, our determination of quarter 0 for some recessions differs from the official beginning of some recessions. Table 1 summarizes our analysis that led to the determination of what quarter to treat as quarter 0. For the Recession of 1949 and the 1973-1975 Recession, the sig ...
towards a circular economy: business rationale for an accelerated
... and optimised. For example, in Europe, the average car is parked 92 percent of the time, 31 percent of food is wasted along the value chain, and the average office is used only 35–50 percent of the time, even during working hours.3 Price risks. Recently, many companies have begun to notice that a li ...
... and optimised. For example, in Europe, the average car is parked 92 percent of the time, 31 percent of food is wasted along the value chain, and the average office is used only 35–50 percent of the time, even during working hours.3 Price risks. Recently, many companies have begun to notice that a li ...
towards a circular economy: business rationale for an accelerated
... and optimised. For example, in Europe, the average car is parked 92 percent of the time, 31 percent of food is wasted along the value chain, and the average office is used only 35–50 percent of the time, even during working hours.3 Price risks. Recently, many companies have begun to notice that a li ...
... and optimised. For example, in Europe, the average car is parked 92 percent of the time, 31 percent of food is wasted along the value chain, and the average office is used only 35–50 percent of the time, even during working hours.3 Price risks. Recently, many companies have begun to notice that a li ...
eurozone crisis: beggar thyself and thy neighbour
... The public debt crisis of Greece and other peripheral eurozone countries has the potential to harm the European Monetary Union. But the eurozone project has already inflicted damage onto Greece and other peripheral countries. There are two related reasons for the crisis: first, the skewed nature of ...
... The public debt crisis of Greece and other peripheral eurozone countries has the potential to harm the European Monetary Union. But the eurozone project has already inflicted damage onto Greece and other peripheral countries. There are two related reasons for the crisis: first, the skewed nature of ...
No. 278 Distortionary Fiscal Policy and Monetary Policy Goals
... Prescott (1977) and Barro and Gordon (1983). In particular, to overcome the in‡ationary bias caused by discretionary conduct of monetary policy, Rogo¤ (1985) proposed appointing a conservative central banker, who dislikes in‡ation more than society does. Recently in Adam and Billi (2008) we have sho ...
... Prescott (1977) and Barro and Gordon (1983). In particular, to overcome the in‡ationary bias caused by discretionary conduct of monetary policy, Rogo¤ (1985) proposed appointing a conservative central banker, who dislikes in‡ation more than society does. Recently in Adam and Billi (2008) we have sho ...
Cambridge History of Science Morgan Ch 16
... unit consumed, the least valuable in terms of utility gained, provided the measure of exchange with other goods and thus determined the price paid for all units. There were four variants of this new theory. The English economist William Stanley Jevons (1835–1882) drew on the Benthamite picture of pl ...
... unit consumed, the least valuable in terms of utility gained, provided the measure of exchange with other goods and thus determined the price paid for all units. There were four variants of this new theory. The English economist William Stanley Jevons (1835–1882) drew on the Benthamite picture of pl ...
conference paper
... Note: Countries ranked by total trade volume. Sources: current account, budget deficit: Economist Intelligence Unit (1 March 2014); public debt: IMF (April 2013 World Economic Outlook) ...
... Note: Countries ranked by total trade volume. Sources: current account, budget deficit: Economist Intelligence Unit (1 March 2014); public debt: IMF (April 2013 World Economic Outlook) ...
Lecture 2
... The nature of economic data makes it difficult to identify what is a cause and what is an effect. The logical tool all scientists use is ceteris paribus, a Latin term that means “other things being equal.” By changing one factor at a time, we can investigate its effects clearly. ...
... The nature of economic data makes it difficult to identify what is a cause and what is an effect. The logical tool all scientists use is ceteris paribus, a Latin term that means “other things being equal.” By changing one factor at a time, we can investigate its effects clearly. ...
Survey of Economics (8th Edition)
... some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable in ...
... some third party content may be suppressed. Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. The publisher reserves the right to remove content from this title at any time if subsequent rights restrictions require it. For valuable in ...
Urban world: The shifting global business landscape
... new dimensions to their economies.6 Only 38 percent of GDP is generated by services in countries with per capita GDP of less than $5,000, but that share averages 59 percent in countries with per capita GDP of over $40,000. This growth is reflected in the number of large service-sector companies. As ...
... new dimensions to their economies.6 Only 38 percent of GDP is generated by services in countries with per capita GDP of less than $5,000, but that share averages 59 percent in countries with per capita GDP of over $40,000. This growth is reflected in the number of large service-sector companies. As ...
Scotiabank`s Global Outlook - Global Banking and Markets
... expected in the Pacific Alliance countries, reflecting higher prices for some commodities and stronger global growth. Risks in emerging markets remain, however, as fiscal challenges exist in some countries, others have large external financing requirements, and there is still some chance that an eve ...
... expected in the Pacific Alliance countries, reflecting higher prices for some commodities and stronger global growth. Risks in emerging markets remain, however, as fiscal challenges exist in some countries, others have large external financing requirements, and there is still some chance that an eve ...
The Changing Dynamics of the Global Business Cycle
... vulnerabilities—for example, the losses associated with highly leveraged investments in the U.S. subprime mortgage market have created distress in the banking sector in many advanced economies, raising concerns about a possible credit crunch (see Chapter 1). Looking beyond the most recent market dev ...
... vulnerabilities—for example, the losses associated with highly leveraged investments in the U.S. subprime mortgage market have created distress in the banking sector in many advanced economies, raising concerns about a possible credit crunch (see Chapter 1). Looking beyond the most recent market dev ...
Global Cities and the Spread of Infectious Disease
... effects can also be discerned in relation to matters of public health within and amongst the global cities comprising the network. Notably, such unanticipated, nonlinear effects should be considered in assessing the spread of SARS within the global cities network. Thus, for example, an editorial in ...
... effects can also be discerned in relation to matters of public health within and amongst the global cities comprising the network. Notably, such unanticipated, nonlinear effects should be considered in assessing the spread of SARS within the global cities network. Thus, for example, an editorial in ...
MWP WP Template 2013 - Cadmus, EUI Research Repository
... Lynn Hunt recently observed that the historiographical turn of global history has been characterised by what she termed the ‘globalization paradigm’. While not all global histories operate within this globalization paradigm,1 its scope and implications are significant enough to warrant further histo ...
... Lynn Hunt recently observed that the historiographical turn of global history has been characterised by what she termed the ‘globalization paradigm’. While not all global histories operate within this globalization paradigm,1 its scope and implications are significant enough to warrant further histo ...
The Gold Price Outlook
... China wants the CNY to be used more actively in Chinese and SE Asian trade; indeed many countries want the US dollar to be replaced in global trade and global reserves. To encourage other countries to hold CNY balances (and as reserve currency) the CNY must have: ...
... China wants the CNY to be used more actively in Chinese and SE Asian trade; indeed many countries want the US dollar to be replaced in global trade and global reserves. To encourage other countries to hold CNY balances (and as reserve currency) the CNY must have: ...
Vulnerability in Small Island Economies. The case of the Caribbean
... researcher) or using some econometric technique such as principal components. These indices mostly capture structural conditions of these economies, such as exposure to foreign economic conditions or proneness to natural disasters. Being structural, these conditions do not change much across time, a ...
... researcher) or using some econometric technique such as principal components. These indices mostly capture structural conditions of these economies, such as exposure to foreign economic conditions or proneness to natural disasters. Being structural, these conditions do not change much across time, a ...
Joint Discussion Paper Series in Economics No. 21
... economic circumstances, and potentially respond by adjusting different types of capital flows. Their findings attribute a crucial role to global factors, a somewhat less important role to contagion and an even less prominent role to domestic pull factors. Among these global factors, global risk has ...
... economic circumstances, and potentially respond by adjusting different types of capital flows. Their findings attribute a crucial role to global factors, a somewhat less important role to contagion and an even less prominent role to domestic pull factors. Among these global factors, global risk has ...
Liberal Studies Major
... *Students who complete an advanced level modern language course (300-400 level course) can override the “sequential” requirement, by pairing it instead with any beginning level course in a new language, or they can continue their advanced language studies. (AP and/or transfer credit not allowed in t ...
... *Students who complete an advanced level modern language course (300-400 level course) can override the “sequential” requirement, by pairing it instead with any beginning level course in a new language, or they can continue their advanced language studies. (AP and/or transfer credit not allowed in t ...
Theoretical Notes and Empirical Evidence
... among others, in the works of Marx, Polanyi, Poulantzas, and Gramsci. The formal or apparent, separation of the political and the economic spheres of a larger social totality under capitalism is not real; it is illusory. It takes the expression of the separation of the “public” from the “private,” t ...
... among others, in the works of Marx, Polanyi, Poulantzas, and Gramsci. The formal or apparent, separation of the political and the economic spheres of a larger social totality under capitalism is not real; it is illusory. It takes the expression of the separation of the “public” from the “private,” t ...
The Classical View
... the economy is in equilibrium with respect to money; the actual amount of money supplied equals the amount the public wants to hold. If velocity is stable, the equation of exchange suggests that there is a predictable relationship between the money supply and nominal GDP (= P x Q). An increase in th ...
... the economy is in equilibrium with respect to money; the actual amount of money supplied equals the amount the public wants to hold. If velocity is stable, the equation of exchange suggests that there is a predictable relationship between the money supply and nominal GDP (= P x Q). An increase in th ...
Capital Flows to Emerging Market Economies
... feature going forward. While an increase in policy rates by the Federal Reserve may still be some time away – not least because the U.S. unemployment rate may decline more slowly going forward and core inflation remains low – a process of normalization would be in line with the fact that U.S. growth ...
... feature going forward. While an increase in policy rates by the Federal Reserve may still be some time away – not least because the U.S. unemployment rate may decline more slowly going forward and core inflation remains low – a process of normalization would be in line with the fact that U.S. growth ...
NBER WORKING PAPER SERIES NONLINEAR ADVENTURES AT THE ZERO LOWER BOUND
... The economy starts with a high discount factor that sends the nominal interest rate to zero and, in every period, there is a probability that the discount factor will move to its long run value and never change again. In the model with capital, the path for the discount factor (and hence, for the e ...
... The economy starts with a high discount factor that sends the nominal interest rate to zero and, in every period, there is a probability that the discount factor will move to its long run value and never change again. In the model with capital, the path for the discount factor (and hence, for the e ...
Nouriel Roubini
Nouriel Roubini (born March 29, 1958) is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm.The child of Iranian Jews, he was born in Turkey and grew up in Italy. After receiving a BA in political economics at Bocconi University, Milan and a doctorate in international economics at Harvard University, he became an academic at Yale and a practising economist at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early research focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who in 2009 became Treasury Secretary.