The benefits of recession: What we should but often fail to learn
... Classical economists recognized the beneficial effects of recessions much more than economists today. In fact, the classical economic system saw no need for the government to become involved in attempting to soften or eliminate recessions (laissez-faire). Government's role was more micro-oriented (e ...
... Classical economists recognized the beneficial effects of recessions much more than economists today. In fact, the classical economic system saw no need for the government to become involved in attempting to soften or eliminate recessions (laissez-faire). Government's role was more micro-oriented (e ...
The NBER`s Business-Cycle Dating Procedure
... approximate dates of the peak and the trough, the committee therefore places considerable weight on the estimates of real GDP issued by the Bureau of Economic Analysis of the U.S. Department of Commerce. The traditional role of the committee is to maintain a monthly chronology, however, and the BEA’ ...
... approximate dates of the peak and the trough, the committee therefore places considerable weight on the estimates of real GDP issued by the Bureau of Economic Analysis of the U.S. Department of Commerce. The traditional role of the committee is to maintain a monthly chronology, however, and the BEA’ ...
Course Guide
... the websites of recognized institutions and media. It is intended that students develop their ability to organize forms of group work, problem solving, oral and written communication, coordination of activities and search for information on reliable sources. The proposed tasks, both individual and g ...
... the websites of recognized institutions and media. It is intended that students develop their ability to organize forms of group work, problem solving, oral and written communication, coordination of activities and search for information on reliable sources. The proposed tasks, both individual and g ...
Luchian, I.Modern Features of Financial Globalization
... This sharp decline was in stark contrast to other key economic indicators such as GDP, international trade and employment, which all registered positive growth at the global level. Economic fragility and policy uncertainty in a number of major economies gave rise to caution among investors. Furtherm ...
... This sharp decline was in stark contrast to other key economic indicators such as GDP, international trade and employment, which all registered positive growth at the global level. Economic fragility and policy uncertainty in a number of major economies gave rise to caution among investors. Furtherm ...
The contemporary China resources boom
... energy products did fall for considerable periods – a fact that, pending explanation, we should put down to specific and not general causes. There are no economic reasons to expect falling real prices of commodities to be a permanent feature of global economic development. The 20th century tendency f ...
... energy products did fall for considerable periods – a fact that, pending explanation, we should put down to specific and not general causes. There are no economic reasons to expect falling real prices of commodities to be a permanent feature of global economic development. The 20th century tendency f ...
CEPR responds to the IMF’s defense Mark Weisbrot
... sometimes longer, before such agreements are reviewed, the decision to tighten fiscal and/or monetary policy during the downturn can still be expected to cause damage. Second, the IMF’s response to CEPR’s paper, as well as its own papers, did not deal with monetary policy, but instead was limited to ...
... sometimes longer, before such agreements are reviewed, the decision to tighten fiscal and/or monetary policy during the downturn can still be expected to cause damage. Second, the IMF’s response to CEPR’s paper, as well as its own papers, did not deal with monetary policy, but instead was limited to ...
Reading Kindleberger in Washington and Berlin Ideas
... The empirical puzzle is important from a theoretical point of view, since it clashes with the rational choice deductions of Mancur Olson’s “logic of collective action.”17 Olson theorized that rational actors pursuing their own material self-interests would be incapable of providing public goods due ...
... The empirical puzzle is important from a theoretical point of view, since it clashes with the rational choice deductions of Mancur Olson’s “logic of collective action.”17 Olson theorized that rational actors pursuing their own material self-interests would be incapable of providing public goods due ...
Monetary Policy Report - January 2017
... anticipated to support the recovery in capital expenditures, with higher oil prices encouraging a gradual rise in drilling activity. Residential investment is projected to grow at a healthy pace as household incomes rise and construction activity picks up to meet demographic demand. At the same time ...
... anticipated to support the recovery in capital expenditures, with higher oil prices encouraging a gradual rise in drilling activity. Residential investment is projected to grow at a healthy pace as household incomes rise and construction activity picks up to meet demographic demand. At the same time ...
“Subpar” Recovery - Economic Cycle Research Institute
... the 45-degree line. But the strength of the revival following the Great Recession (marked “09”) did fall far short of what this simple relationship would have predicted. This large downward deviation encapsulates the popular disenchantment with the strength of the recovery. However, based on our res ...
... the 45-degree line. But the strength of the revival following the Great Recession (marked “09”) did fall far short of what this simple relationship would have predicted. This large downward deviation encapsulates the popular disenchantment with the strength of the recovery. However, based on our res ...
The Former Soviet Union after Dis
... collapse in a 1977 article in The Times; it is true that he had been exceptionally accurate, having indicated the date of 14 July 1989, only a couple of months before the fall of the Berlin Wall. But it had only been a fortuitous coincidence: he had simply added two full centuries to the start of th ...
... collapse in a 1977 article in The Times; it is true that he had been exceptionally accurate, having indicated the date of 14 July 1989, only a couple of months before the fall of the Berlin Wall. But it had only been a fortuitous coincidence: he had simply added two full centuries to the start of th ...
Global Financial and Economic Crises: Can they be prevented
... Thailand was experiencing a mini economic boom which was largely financed by massive foreign borrowings. As result the economy was suffering from current account deficit. The Thai baht, which was supposed to depreciate under those circumstances, was however being propped up by the Thai government us ...
... Thailand was experiencing a mini economic boom which was largely financed by massive foreign borrowings. As result the economy was suffering from current account deficit. The Thai baht, which was supposed to depreciate under those circumstances, was however being propped up by the Thai government us ...
doi - World Health Organization
... expressed this fear as follows: “If during the boom period they were unable to meet these commitments, I’m wondering what is going to happen now that we’re in a deep recession.”1 Yet so far the issue remains controversial. Although development assistance has been relatively protected from cuts since ...
... expressed this fear as follows: “If during the boom period they were unable to meet these commitments, I’m wondering what is going to happen now that we’re in a deep recession.”1 Yet so far the issue remains controversial. Although development assistance has been relatively protected from cuts since ...
full text - Economics and Business Review
... in Greece nor in Italy. These two countries are not exceptional – the euro harms even those countries which are perfectly governed. The common currency has put Europe into cognitive dissonance. People hate the saving measures yet they have an emotional attitude towards everything that is related to ...
... in Greece nor in Italy. These two countries are not exceptional – the euro harms even those countries which are perfectly governed. The common currency has put Europe into cognitive dissonance. People hate the saving measures yet they have an emotional attitude towards everything that is related to ...
Economics, by R. Glenn Hubbard and Anthony Patrick O'Brien
... © 2006 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien—1st ed. ...
... © 2006 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien—1st ed. ...
“MERHABA” Global Marketing SIG members
... The recent economic challenges have denoted the importance of country-level rebalancing, requiring an increased pursuit of output in traditional consumption-driven economies and a growing emphasis on consumption stimulation in traditional export-oriented economies. Similarly, changes in the global e ...
... The recent economic challenges have denoted the importance of country-level rebalancing, requiring an increased pursuit of output in traditional consumption-driven economies and a growing emphasis on consumption stimulation in traditional export-oriented economies. Similarly, changes in the global e ...
European Perspectives on the Global Financial Crisis: Introduction
... sub-prime mortgage market in early 2007 as homeowners who had been granted loans in spite of their poor credit ratings struggled to make repayments in the face of higher interest rates and falling property prices (see Federal Reserve of St Louis, 2009, for a detailed timeline of the crisis). Followi ...
... sub-prime mortgage market in early 2007 as homeowners who had been granted loans in spite of their poor credit ratings struggled to make repayments in the face of higher interest rates and falling property prices (see Federal Reserve of St Louis, 2009, for a detailed timeline of the crisis). Followi ...
a brief review of the monetary policies in the united states
... Reserve System is unique compared to other central banks. It is also unusual that an entity outside of the Central Bank creates the currency being used, i.e., the US Department of Treasury (Meltzer, 2009). ...
... Reserve System is unique compared to other central banks. It is also unusual that an entity outside of the Central Bank creates the currency being used, i.e., the US Department of Treasury (Meltzer, 2009). ...
International monetary system in the second half of XXth century and
... international reserve currency, there could be conflicts of interest between shortterm domestic and long-term international economic objectives. He pointed out that the country whose currency foreign nations wish to hold (the global reserve currency) must be willing to supply the world with an extra ...
... international reserve currency, there could be conflicts of interest between shortterm domestic and long-term international economic objectives. He pointed out that the country whose currency foreign nations wish to hold (the global reserve currency) must be willing to supply the world with an extra ...
chapter summary
... Macroeconomics focuses on the national economy. A standard measure of performance is the growth of real gross domestic product, or real GDP, the value of all final goods and services produced in the nation during the year. The economy has two phases: periods of expansion and periods of contraction. ...
... Macroeconomics focuses on the national economy. A standard measure of performance is the growth of real gross domestic product, or real GDP, the value of all final goods and services produced in the nation during the year. The economy has two phases: periods of expansion and periods of contraction. ...
great recession: a grave crisis no different from
... the economic downturns along the developed world pose new challenges to economics and to cabinet members who design and implement economic policies. Prof. Carles Manera ...
... the economic downturns along the developed world pose new challenges to economics and to cabinet members who design and implement economic policies. Prof. Carles Manera ...
Labor Market Behavior during and after the Great Recession.indd
... Even though the term “jobless recovery” has been used repeatedly for all three of these episodes, figure 3 makes it clear that what makes them “jobless” is not their divergence from historical patterns as far as employment is concerned. Rather, it is the weakness of the recovery in aggregate output. ...
... Even though the term “jobless recovery” has been used repeatedly for all three of these episodes, figure 3 makes it clear that what makes them “jobless” is not their divergence from historical patterns as far as employment is concerned. Rather, it is the weakness of the recovery in aggregate output. ...
short-run AS curve
... level of input prices will adjust to the increase in final goods prices. The short-run AS curve will shift upward, and the economy will move up and to the left along AD1 until it reaches a new equilibrium at E3. As it does so, the price level of final goods will continue to rise, the output ...
... level of input prices will adjust to the increase in final goods prices. The short-run AS curve will shift upward, and the economy will move up and to the left along AD1 until it reaches a new equilibrium at E3. As it does so, the price level of final goods will continue to rise, the output ...
Homework #5
... about what you are saying about yourself when you do any work for someone else! 1. Use the Keynesian Model to answer this set of questions. Suppose that in the economy we are analyzing that the consumption function is given as C = 100 + .5(Y – T) and that taxes are autonomous and equal to $40 millio ...
... about what you are saying about yourself when you do any work for someone else! 1. Use the Keynesian Model to answer this set of questions. Suppose that in the economy we are analyzing that the consumption function is given as C = 100 + .5(Y – T) and that taxes are autonomous and equal to $40 millio ...
application of the mundell-fleming model on a small open economy
... of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, because the country can borrow money from the rest of the world, thus the government deficit, government budget and capital spending by the government would be exogenous. The economy can undergo strong infla ...
... of liquidity trap is strongly rejected. Furthemore all liquidity constraints are eliminated, because the country can borrow money from the rest of the world, thus the government deficit, government budget and capital spending by the government would be exogenous. The economy can undergo strong infla ...
The Global Financial Crisis: will successful African countries be
... crisis. Each developing country needs to set up a crisis task force to consider the best possible policy responses – short term and long term economic and social policy responses. ...
... crisis. Each developing country needs to set up a crisis task force to consider the best possible policy responses – short term and long term economic and social policy responses. ...
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.