WP 80 de Paula et al Online
... instability as the result of market processes, and offers a rather clear concept for growth-oriented policies. From this perspective, the establishment of monetary stability alone is far from being sufficient to assure growth, as uncertainty undermines market coordination towards equilibrium with fu ...
... instability as the result of market processes, and offers a rather clear concept for growth-oriented policies. From this perspective, the establishment of monetary stability alone is far from being sufficient to assure growth, as uncertainty undermines market coordination towards equilibrium with fu ...
A New Keynesian Perspective on the Great
... [email protected]. http://www2.bc.edu/∼irelandp. The opinions, findings, conclusions, and recommendations expressed herein are my own and do not reflect those of the National Bureau of Economic Research. ...
... [email protected]. http://www2.bc.edu/∼irelandp. The opinions, findings, conclusions, and recommendations expressed herein are my own and do not reflect those of the National Bureau of Economic Research. ...
Urban world: Mapping the economic power of cities
... generated by cities in India, which is at a much earlier stage of its urbanization. But it would be a mistake to assume that the growth story lies exclusively in emerging markets—98 rapidly growing North American cities will contribute almost 10 percent of global growth in this period. Companies now ...
... generated by cities in India, which is at a much earlier stage of its urbanization. But it would be a mistake to assume that the growth story lies exclusively in emerging markets—98 rapidly growing North American cities will contribute almost 10 percent of global growth in this period. Companies now ...
Do you believe in Asia? Chinese bonds and the renminbi
... be seen as an indication of future returns. It is important to remember that the value of investments and any income from them can go down as well as up and is not guaranteed. Please note that the fund is authorised to invest a in structured products and derivatives, which may be less liquid than st ...
... be seen as an indication of future returns. It is important to remember that the value of investments and any income from them can go down as well as up and is not guaranteed. Please note that the fund is authorised to invest a in structured products and derivatives, which may be less liquid than st ...
Ecological Macroeconomics
... the macroeconomic implications of these policies are not immediately obvious: If consumption is reduced, saving increases. Higher saving can lead to lower output and employment due the Paradox of Thrift. An increased saving ratio can, however, also feed into higher investment and higher economic gro ...
... the macroeconomic implications of these policies are not immediately obvious: If consumption is reduced, saving increases. Higher saving can lead to lower output and employment due the Paradox of Thrift. An increased saving ratio can, however, also feed into higher investment and higher economic gro ...
The Impact of the Great Recession on Monetary and Fiscal Policy in
... prosperity, increases demand for some assets, hence affecting the price growth. The mentioned price growth encourages further crediting of the asset, increases demands and affects the price growth. It leads to the formation of the bubble, whose break initiates a spiral different than the previous on ...
... prosperity, increases demand for some assets, hence affecting the price growth. The mentioned price growth encourages further crediting of the asset, increases demands and affects the price growth. It leads to the formation of the bubble, whose break initiates a spiral different than the previous on ...
Preview - American Economic Association
... at the University of Houston find that deep recessions after a financial crash can take up to nine years before growth returns to trend. But this time it is different—it‘s even worse.5 The IMF also argues that the “potential output‖ of the world economy is growing more slowly than before. Christine ...
... at the University of Houston find that deep recessions after a financial crash can take up to nine years before growth returns to trend. But this time it is different—it‘s even worse.5 The IMF also argues that the “potential output‖ of the world economy is growing more slowly than before. Christine ...
IMF Working Paper 09/282 - “Lost Decade” in Translation: What
... Japan close to a financial meltdown. The bursting of the asset bubbles had left Japan’s financial system saddled with large nonperforming loans, but these were masked by regulatory forbearance and their full scale not properly diagnosed. The increasing mistrust of financial institutions came to a he ...
... Japan close to a financial meltdown. The bursting of the asset bubbles had left Japan’s financial system saddled with large nonperforming loans, but these were masked by regulatory forbearance and their full scale not properly diagnosed. The increasing mistrust of financial institutions came to a he ...
1st Quarter 2016 - Deloitte University Press
... relatively strong growth in the United States, disappointing but improving growth in Europe and Japan, slowing growth in China, and weakness in many other emerging markets—the one big exception being India, where growth is actually quite impressive. The world is also characterized by very low inflat ...
... relatively strong growth in the United States, disappointing but improving growth in Europe and Japan, slowing growth in China, and weakness in many other emerging markets—the one big exception being India, where growth is actually quite impressive. The world is also characterized by very low inflat ...
The Linkage Between the Three Types of National Economic Deficits
... federal government deficits. However as state and local governments are generally required to have balanced operating budgets, we make a simplifying assumption that all government deficits can be attributed to the federal government. If our trading partners do not also reduce their imports at a simi ...
... federal government deficits. However as state and local governments are generally required to have balanced operating budgets, we make a simplifying assumption that all government deficits can be attributed to the federal government. If our trading partners do not also reduce their imports at a simi ...
Implications-of-diff..
... considered to be too slow unless an apt policy strategy intervenes. This particular variety of Keynesianism became mainstream in the 1950s and 1960s retaining a strong, though fading, influence in the 1970s. This “neoclassical synthesis” was undermined by a few crucial shortcomings: in particular th ...
... considered to be too slow unless an apt policy strategy intervenes. This particular variety of Keynesianism became mainstream in the 1950s and 1960s retaining a strong, though fading, influence in the 1970s. This “neoclassical synthesis” was undermined by a few crucial shortcomings: in particular th ...
Delivering growth while reducing deficits
... (IFS, 2010). The implication is the need for a lengthy period of fiscal consolidation based on some combination of expenditure cuts and tax increases but this, in the absence of offsetting interest rate reductions, risks pushing the UK back into recession. While the Bank of England cannot reduce its ...
... (IFS, 2010). The implication is the need for a lengthy period of fiscal consolidation based on some combination of expenditure cuts and tax increases but this, in the absence of offsetting interest rate reductions, risks pushing the UK back into recession. While the Bank of England cannot reduce its ...
Facts and Challenges from the Great Recession for Forecasting and
... role of financial markets in recent business cycles can no longer be seen as passive. Though the recessions of 1990-1991 and 2001 were mild and brief, they had financial origins, with roots in the savings-and-loan crisis and the internet bubble, respectively. These two recessions did not lead to ser ...
... role of financial markets in recent business cycles can no longer be seen as passive. Though the recessions of 1990-1991 and 2001 were mild and brief, they had financial origins, with roots in the savings-and-loan crisis and the internet bubble, respectively. These two recessions did not lead to ser ...
IMF Regional Economic Outlook: Western Hemisphere
... somewhat in the first quarter of 2012, they remain tilted to the downside. The situation in Europe remains fragile, and fresh shocks to confidence could rekindle investor concerns and accelerate bank deleveraging with adverse impacts on real activity in Europe and beyond. In addition, rising tension ...
... somewhat in the first quarter of 2012, they remain tilted to the downside. The situation in Europe remains fragile, and fresh shocks to confidence could rekindle investor concerns and accelerate bank deleveraging with adverse impacts on real activity in Europe and beyond. In addition, rising tension ...
The Global Economic Recession and Industrial Structure: Evidence
... Although there has been some disagreement regarding sources of growth (Krugman 1994), the medium-term sustainability of growth for the economies in the region has generally been taken for granted. All four economies are classified as high-income economies by the World Bank and advanced economies by ...
... Although there has been some disagreement regarding sources of growth (Krugman 1994), the medium-term sustainability of growth for the economies in the region has generally been taken for granted. All four economies are classified as high-income economies by the World Bank and advanced economies by ...
1 THE ISLANDS OF THE BAHAMAS ARRIVALS REPORT January
... the United States and the world would slow down their free fall into the depths of economic chaos. But that was not to be the case and by January 2009 the global economy was still in crisis. In January 2009 alone, 741,000 persons (revised) lost their jobs in the United States bringing the unemployme ...
... the United States and the world would slow down their free fall into the depths of economic chaos. But that was not to be the case and by January 2009 the global economy was still in crisis. In January 2009 alone, 741,000 persons (revised) lost their jobs in the United States bringing the unemployme ...
DEFLATION – A PROBLEM OF THE SOCIO
... conventional manner. The problem may further be complicated, for example, following a collapse in asset prices, the result of which as a rule is the need to make structural reforms. In a deflationary situation irrevocable receivables of the central bank grow and probably strengthen their aversion to ...
... conventional manner. The problem may further be complicated, for example, following a collapse in asset prices, the result of which as a rule is the need to make structural reforms. In a deflationary situation irrevocable receivables of the central bank grow and probably strengthen their aversion to ...
Lecture 1 090904 - Michigan State University
... with imperialism (the history of conquests, colonialism, and alien rule remains relevant today in many ways), and a postcolonial understanding of the world has its merits. But it would be a great mistake to see globalization primarily as a feature of imperialism. It is much bigger--much greater--tha ...
... with imperialism (the history of conquests, colonialism, and alien rule remains relevant today in many ways), and a postcolonial understanding of the world has its merits. But it would be a great mistake to see globalization primarily as a feature of imperialism. It is much bigger--much greater--tha ...
THE ROLE OF INTEREST RATES IN BUSINESS CYCLE
... of interest rate fluctuations. This guarantees that falling labour demand leads to a lower level of equilibrium output. While there is no reason to believe that this mechanism may not be relevant for a developed country as well, it underscores the kind of adjustment that has to be introduced in a mo ...
... of interest rate fluctuations. This guarantees that falling labour demand leads to a lower level of equilibrium output. While there is no reason to believe that this mechanism may not be relevant for a developed country as well, it underscores the kind of adjustment that has to be introduced in a mo ...
the relationship between globalization and the economic crisis
... globalization there are several points of view in the economic literature. By 2007 globalization has developed unprecedented. But the crisis began in the United States has shaken confidence in the globalizing worldwide, calling into question the functionality of the process. In the early years of th ...
... globalization there are several points of view in the economic literature. By 2007 globalization has developed unprecedented. But the crisis began in the United States has shaken confidence in the globalizing worldwide, calling into question the functionality of the process. In the early years of th ...
This PDF is a selection from a published volume from... Research Volume Title: International Dimensions of Monetary Policy
... between the end of the 1981 to 1982 recession in the United States and 2007, and these two recessions have been very short and mild by historical comparison. The standard deviation of real GDP growth was cut in half to 1.5 percent. Though this improvement began in the United States in the early 1980 ...
... between the end of the 1981 to 1982 recession in the United States and 2007, and these two recessions have been very short and mild by historical comparison. The standard deviation of real GDP growth was cut in half to 1.5 percent. Though this improvement began in the United States in the early 1980 ...
Financial Cycle, Financial Stability and Monetary Policy
... a bubble has emerged, it will probably be too late to act with interest rate hikes. • Pursuing a separate asset price objective could mean having to compromise on the inflation objective. A central bank’s focus on assets could lead to public confusion about its policy objectives (Giavazzi and Mishki ...
... a bubble has emerged, it will probably be too late to act with interest rate hikes. • Pursuing a separate asset price objective could mean having to compromise on the inflation objective. A central bank’s focus on assets could lead to public confusion about its policy objectives (Giavazzi and Mishki ...
The Long View How will the global economic order change
... emerging economies should make good progress towards closing this gap With the possible exception of Italy, all of the G7 will continue to sit above the E7 based on our rankings of GDP per capita in 2050. China achieves a middling rank by 2050, while India remains near the bottom, as illustrated in ...
... emerging economies should make good progress towards closing this gap With the possible exception of Italy, all of the G7 will continue to sit above the E7 based on our rankings of GDP per capita in 2050. China achieves a middling rank by 2050, while India remains near the bottom, as illustrated in ...
Slowdown in growth in the emerging market economies
... emerging market economies may have contracted somewhat, but it is still higher than in the group of advanced economies, for which the IMF expects GDP to grow by 2½% in 2015 according to its April WEO.3 A longer-term analysis reveals that the steeper growth path observed in the emerging market econo ...
... emerging market economies may have contracted somewhat, but it is still higher than in the group of advanced economies, for which the IMF expects GDP to grow by 2½% in 2015 according to its April WEO.3 A longer-term analysis reveals that the steeper growth path observed in the emerging market econo ...
ECON 775 Monetary Economics - University of Wisconsin Whitewater
... This course aims to provide students with an introduction into monetary economics accompanied by an understanding of the connections between monetary theory and modern theories of short-run fluctuations (e.g. real business cycle theory and New Keynesian models). The course is divided into two main ...
... This course aims to provide students with an introduction into monetary economics accompanied by an understanding of the connections between monetary theory and modern theories of short-run fluctuations (e.g. real business cycle theory and New Keynesian models). The course is divided into two main ...
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.