Chapter 15 Deficit and Debt 2 It is the Flow
... expenditures moving output closer to potential Long-run surpluses are good because they provide saving for investment ...
... expenditures moving output closer to potential Long-run surpluses are good because they provide saving for investment ...
Fluctuations in Emerging Economies: Regional and Global Factors
... Individual countries are listed in table 1. With regards to the standard World Bank classification, we introduce some changes to keep with a regional grouping, which explains why Mexico and Chile have been allocated to Latin America from the OECD group, while Turkey and Israel were consolidated into ...
... Individual countries are listed in table 1. With regards to the standard World Bank classification, we introduce some changes to keep with a regional grouping, which explains why Mexico and Chile have been allocated to Latin America from the OECD group, while Turkey and Israel were consolidated into ...
The slowdown in emerging market economies and its
... economies have had difficulty cushioning the downturn in activity. Commodityexporting economies with flexible exchange rates have also seen their monetary policies constrained, as their currencies have depreciated in line with the falling commodity prices and inflationary pressures have risen. At th ...
... economies have had difficulty cushioning the downturn in activity. Commodityexporting economies with flexible exchange rates have also seen their monetary policies constrained, as their currencies have depreciated in line with the falling commodity prices and inflationary pressures have risen. At th ...
Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning
... incidence of crises as well as their timing. Thus our analysis bodes poorly for the ability of early warning models to forecast future financial crises. After all, ours should be a (relatively) easy first step; we know now that a crisis took place in 2008, and which countries were affected. There ca ...
... incidence of crises as well as their timing. Thus our analysis bodes poorly for the ability of early warning models to forecast future financial crises. After all, ours should be a (relatively) easy first step; we know now that a crisis took place in 2008, and which countries were affected. There ca ...
Pushing on a string: US monetary policy is less powerful in recessions
... effects in expansions than recessions. Unlike the approach we follow, however, his approach requires the researcher to make a number of discretionary decisions on the econometric specification. Differently from these papers—and importantly for understanding the transmission menchanism—our paper stre ...
... effects in expansions than recessions. Unlike the approach we follow, however, his approach requires the researcher to make a number of discretionary decisions on the econometric specification. Differently from these papers—and importantly for understanding the transmission menchanism—our paper stre ...
Four rescue measures for stagnant eurozone
... If we look back to Irish trade records from 1930 to present. We can see we were only ever in physical trade surplus during the hard years of 1941, 43 & 44. It took the first euro depression of the early 80s to drive us into the arms of the european consumer war economy. Beginning in 1985 we began to ...
... If we look back to Irish trade records from 1930 to present. We can see we were only ever in physical trade surplus during the hard years of 1941, 43 & 44. It took the first euro depression of the early 80s to drive us into the arms of the european consumer war economy. Beginning in 1985 we began to ...
chapter2
... • You could wrap your chain of bills more than 12,000 times around the earth’s equator. • If you flew a jet at the speed of sound, spooling out a roll of dollar bills behind you, it would take you more than fourteen years to release a trillion dollars. BUSN ...
... • You could wrap your chain of bills more than 12,000 times around the earth’s equator. • If you flew a jet at the speed of sound, spooling out a roll of dollar bills behind you, it would take you more than fourteen years to release a trillion dollars. BUSN ...
Fiscal Rigor or Rigor Mortis - European Union Center of California
... movements into account, but these proved to be too complicated to generate a substantial following.15 On the other hand, inflation targeting has now become quite popular.16 In undertaking such political economy analysis it is important to consider the effects that constraints will have on the incent ...
... movements into account, but these proved to be too complicated to generate a substantial following.15 On the other hand, inflation targeting has now become quite popular.16 In undertaking such political economy analysis it is important to consider the effects that constraints will have on the incent ...
NBER WORKING PAPER SERIES INFLUENCE OF FOREIGN DISTURBANCES?
... largely relied on calibrations aimed at matching selected moments in the data — see the contributions of Backus et al. (1992, 1995), Stockman and Tesar (1995) and Baxter (1995) for a review. The New Open Economy Macroeconomics (NOEM) has since produced signi…cant theoretical advancements in internat ...
... largely relied on calibrations aimed at matching selected moments in the data — see the contributions of Backus et al. (1992, 1995), Stockman and Tesar (1995) and Baxter (1995) for a review. The New Open Economy Macroeconomics (NOEM) has since produced signi…cant theoretical advancements in internat ...
Coyote Economist Panel Discussion on The Recession News.from.the.Department.of.Economics,.CSUSB
... the Federal Reserve System (the Fed) during the most recession. He noted that the Fed carried out an unprecedented volume and variety of stimulative monetary policies with the intention of not only stabilizing the financial sector but, at the same time, providing the context for the increased spendi ...
... the Federal Reserve System (the Fed) during the most recession. He noted that the Fed carried out an unprecedented volume and variety of stimulative monetary policies with the intention of not only stabilizing the financial sector but, at the same time, providing the context for the increased spendi ...
Financial Structure and the Impact of Monetary Policy on Property
... while monetary policy does have important effects on residential-property prices, those effects are not particularly large relative to those it has on inflation and output. This suggests that attempts to stabilise property prices by using interest rate policy are likely to induce pronounced macroeco ...
... while monetary policy does have important effects on residential-property prices, those effects are not particularly large relative to those it has on inflation and output. This suggests that attempts to stabilise property prices by using interest rate policy are likely to induce pronounced macroeco ...
The exchange rate and the monetary transmission mechanism in
... developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used to assess the validity of calibrated dynamic general equilibrium (CDGE) models by comparing them with the theoretical impulse response functions of those models. In contrast to ...
... developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used to assess the validity of calibrated dynamic general equilibrium (CDGE) models by comparing them with the theoretical impulse response functions of those models. In contrast to ...
Capital Account Liberalization as a Development Strategy for
... policy to promote domestic economic growth. Interestingly, then, the IMF’s interpretation went unchallenged even on the heels of the 1994 financial crisis when Mexico suffered from a severe capital flight. Rather than marking the reversal of the international consensus on the merits of financial lib ...
... policy to promote domestic economic growth. Interestingly, then, the IMF’s interpretation went unchallenged even on the heels of the 1994 financial crisis when Mexico suffered from a severe capital flight. Rather than marking the reversal of the international consensus on the merits of financial lib ...
Capital Flows to Emerging Markets
... gross rather than net capital flows. Secondly, when considering emerging markets, the asymmetric nature of the international monetary system must be stressed. Thirdly, it is important to understand the specific forms that capital flows take: in today’s world, pension funds and other institutional in ...
... gross rather than net capital flows. Secondly, when considering emerging markets, the asymmetric nature of the international monetary system must be stressed. Thirdly, it is important to understand the specific forms that capital flows take: in today’s world, pension funds and other institutional in ...
On the sources of macroeconomic stability
... The volatility of output and inflation has varied substantially across countries and over time. While the global economy was very turbulent in the 1970s, macroeconomic volatility declined sharply in the following years in what has been termed the ‘Great Moderation’. This decline took place to differ ...
... The volatility of output and inflation has varied substantially across countries and over time. While the global economy was very turbulent in the 1970s, macroeconomic volatility declined sharply in the following years in what has been termed the ‘Great Moderation’. This decline took place to differ ...
Monetary Policy, Heterogeneity, and the Housing Channel
... Related Literature This paper is related to several strands of the literature. Several papers examine the role of house prices in driving aggregate fluctuations through consumption. Mian et al. (2013) and Kaplan et al. (2016a) study the response of spending on cars and non-durable consumption, resp ...
... Related Literature This paper is related to several strands of the literature. Several papers examine the role of house prices in driving aggregate fluctuations through consumption. Mian et al. (2013) and Kaplan et al. (2016a) study the response of spending on cars and non-durable consumption, resp ...
Monetary Policy in Fiji Monetary Policy in Fiji
... exporters would earn less and have less to spend in Fiji. ...
... exporters would earn less and have less to spend in Fiji. ...
NBER WORKING PAPER SERIES WHAT HURTS MOST? Carmen M. Reinhart
... with weakness in real commodity prices. In our simple example, if the small country’s endowment was made up of a commodity, the effects of G-3 monetary policy actions on overall demand for those primary goods could induce a sizable shift in the position and rotation of the budget line. Yet, the imp ...
... with weakness in real commodity prices. In our simple example, if the small country’s endowment was made up of a commodity, the effects of G-3 monetary policy actions on overall demand for those primary goods could induce a sizable shift in the position and rotation of the budget line. Yet, the imp ...
Reserve Accumulation, Growth and Financial Crises
... ratio in developing countries more than doubled between 1980 and 2010, increasing from 9.5 to 23.3 percent. The increase has been particularly marked in East Asia, where the average reserves-to-GDP ratio passed from 15.5 percent in 1980 to 55.3 percent in 2010.2 The large accumulation of foreign res ...
... ratio in developing countries more than doubled between 1980 and 2010, increasing from 9.5 to 23.3 percent. The increase has been particularly marked in East Asia, where the average reserves-to-GDP ratio passed from 15.5 percent in 1980 to 55.3 percent in 2010.2 The large accumulation of foreign res ...
macroeconomic challenges for mercosur countries in the post
... Like other Emerging Economies, MERCOSUR members have had favorable conditions to access international capital markets during the last decade. Nonetheless, the expected rise of interest rates in developed countries would generate a higher financial cost of fiscal deficits and debt rollover in the nex ...
... Like other Emerging Economies, MERCOSUR members have had favorable conditions to access international capital markets during the last decade. Nonetheless, the expected rise of interest rates in developed countries would generate a higher financial cost of fiscal deficits and debt rollover in the nex ...
Harvard Kennedy School
... You lend to the Indian company in the form of cash dollars, which they don’t have to pay back for 30 days => debit appears on US short-term capital account. You are the Central Bank, and you buy securities of the Indian company (an improbable example for the Fed – but “Sovereign Wealth Funds,” f ...
... You lend to the Indian company in the form of cash dollars, which they don’t have to pay back for 30 days => debit appears on US short-term capital account. You are the Central Bank, and you buy securities of the Indian company (an improbable example for the Fed – but “Sovereign Wealth Funds,” f ...
Cloud Computing and the Digital Divide
... Small companies are a nursery for the larger ones of the future, and usually drive innovation within a developing economy. However, ICT usage among SMBs in developing countries typically is very low. For example, SMBs in India account for only 30 percent of ICT spending.7 Given that, technology has ...
... Small companies are a nursery for the larger ones of the future, and usually drive innovation within a developing economy. However, ICT usage among SMBs in developing countries typically is very low. For example, SMBs in India account for only 30 percent of ICT spending.7 Given that, technology has ...
Macroeconomic Policy and Financial Markets
... is designed to increase the depth of your understanding whether or not you have studied economics or macroeconomics previously. Although it does not require previous study of macroeconomics, if you have studied an undergraduate macroeconomics course this course adds to your knowledge because, unlike ...
... is designed to increase the depth of your understanding whether or not you have studied economics or macroeconomics previously. Although it does not require previous study of macroeconomics, if you have studied an undergraduate macroeconomics course this course adds to your knowledge because, unlike ...
World Economic Outlook, October 2016
... Brexit—the June 23, 2016, U.K. referendum result in favor of leaving the European Union; ongoing realignments, such as rebalancing in China and the adjustment of commodity exporters to a protracted decline in the terms of trade; and slow-moving trends, such as demographics and the evolution of produ ...
... Brexit—the June 23, 2016, U.K. referendum result in favor of leaving the European Union; ongoing realignments, such as rebalancing in China and the adjustment of commodity exporters to a protracted decline in the terms of trade; and slow-moving trends, such as demographics and the evolution of produ ...
G20 - Bundesfinanzministerium
... The G20 – summary and outlook • The G20’s working programme for 2015 focused on fostering sustainable economic growth. The G20 has developed country-specific investment strategies designed to further stimulate inclusive growth and employment, especially in low-income countries. The Chinese G20 pres ...
... The G20 – summary and outlook • The G20’s working programme for 2015 focused on fostering sustainable economic growth. The G20 has developed country-specific investment strategies designed to further stimulate inclusive growth and employment, especially in low-income countries. The Chinese G20 pres ...
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.