From Great Depression to Great Recession
... can be instructive. So what are the current issues with the international monetary system? Let me mention three—not necessarily with the expectation of getting immediate answers, but in the hope that they will foster discussion and debate. The first, alluded to above, is the scramble for internation ...
... can be instructive. So what are the current issues with the international monetary system? Let me mention three—not necessarily with the expectation of getting immediate answers, but in the hope that they will foster discussion and debate. The first, alluded to above, is the scramble for internation ...
Speech: The Role of International Financial Institutions
... obligations. In addition, IMF lending has not only been used to finance the payment deficits of Greece, Ireland, and Portugal with other euro area countries, but also has been used to cover those countries’ fiscal deficits and help to recapitalize their banking systems. The truth is that IMF lending ...
... obligations. In addition, IMF lending has not only been used to finance the payment deficits of Greece, Ireland, and Portugal with other euro area countries, but also has been used to cover those countries’ fiscal deficits and help to recapitalize their banking systems. The truth is that IMF lending ...
Will US consumer debt reduction cripple the recovery?
... joblessness rising and the economic outlook uncertain, many are also borrowing less and saving more. While this new financial sobriety makes sense for individual households, the collective result has been a large drop in personal spending—a major reason for the sharp GDP contraction that began last ...
... joblessness rising and the economic outlook uncertain, many are also borrowing less and saving more. While this new financial sobriety makes sense for individual households, the collective result has been a large drop in personal spending—a major reason for the sharp GDP contraction that began last ...
Economics - Tamalpais Union High School District
... allows people to make a profit and work towards financial security. Profits and losses are an essential part of a free enterprise system. In general, investments promote the development of new industries, infrastructure, and fund research and development. These investments help the economy grow and ...
... allows people to make a profit and work towards financial security. Profits and losses are an essential part of a free enterprise system. In general, investments promote the development of new industries, infrastructure, and fund research and development. These investments help the economy grow and ...
nassif berlin conference 2009 - Hans-Böckler
... Substitution") and liberalizing economic reforms were implemented almost at the same time (Brazil since 1990, and India after 1991); second, among the countries that form the so-called BRICs, only Brazil and India share ongoing industrialization processes with typical capitalist characteristics4; an ...
... Substitution") and liberalizing economic reforms were implemented almost at the same time (Brazil since 1990, and India after 1991); second, among the countries that form the so-called BRICs, only Brazil and India share ongoing industrialization processes with typical capitalist characteristics4; an ...
Chapter 1: What Does Economics Study?
... English economist John Maynard Keynes, who in 1936 wrote the first macroeconomics book about fighting recessions. Chapter 6 introduces you to his model of the economy and how it explicitly takes account of the fact that prices can’t quickly and easily fall to get you out of recessions. Because it ta ...
... English economist John Maynard Keynes, who in 1936 wrote the first macroeconomics book about fighting recessions. Chapter 6 introduces you to his model of the economy and how it explicitly takes account of the fact that prices can’t quickly and easily fall to get you out of recessions. Because it ta ...
69. Adina Dornean - Danubius Proceedings
... XIX century, the representatives of the schools of economic thought have been preoccupied to offer explanations regarding the causes of the economic cycle and the manifestation of the economic crises. There is a diversity of antagonic opinions, but as Roubini states, “ideas matter” (Roubini & Mihm, ...
... XIX century, the representatives of the schools of economic thought have been preoccupied to offer explanations regarding the causes of the economic cycle and the manifestation of the economic crises. There is a diversity of antagonic opinions, but as Roubini states, “ideas matter” (Roubini & Mihm, ...
BEHIND THE 2000/2001 TURKISH CRISIS: Stability, Credibility, and Governance, for Whom?
... main aim of the program (was) to eliminate the instability due to lack of trust and to… construct the necessary legal infrastructure so as to re-organize the public administration and the economic decision making processes. Accordingly, it would “… no longer be possible to go back to the old ways o ...
... main aim of the program (was) to eliminate the instability due to lack of trust and to… construct the necessary legal infrastructure so as to re-organize the public administration and the economic decision making processes. Accordingly, it would “… no longer be possible to go back to the old ways o ...
School of Economics
... Two-hour lecture, three times per week for 6 weeks Course description: This is a compulsory 1st year unit for undergraduates in the Commerce stream. It examines the functioning of the economy as a whole, and looks at how large components of an economy operate. It first introduces the basic terminolo ...
... Two-hour lecture, three times per week for 6 weeks Course description: This is a compulsory 1st year unit for undergraduates in the Commerce stream. It examines the functioning of the economy as a whole, and looks at how large components of an economy operate. It first introduces the basic terminolo ...
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... Accordingly, Asia ruled the world economy for nearly two millennia of human history: for example, he said, “China was the world’s tech leader from 500 to1500.” Then came the rise of the West with the Industrial Revolution. By the mid-20th century, Asia had 60 percent of the world’s population but re ...
... Accordingly, Asia ruled the world economy for nearly two millennia of human history: for example, he said, “China was the world’s tech leader from 500 to1500.” Then came the rise of the West with the Industrial Revolution. By the mid-20th century, Asia had 60 percent of the world’s population but re ...
Christina D. Romer Teach-In 0n the Great Depression and World
... And output plummeted. We had a second recession in 1938. Indeed, one reason why we think of the recovery from the Great Depression as being very slow was that there were, in fact, two severe downturns. Fiscal contraction was not the only cause of this second recession, but studies suggest it was an ...
... And output plummeted. We had a second recession in 1938. Indeed, one reason why we think of the recovery from the Great Depression as being very slow was that there were, in fact, two severe downturns. Fiscal contraction was not the only cause of this second recession, but studies suggest it was an ...
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. ...
Slide 1
... The Economics • Conditions that favor a high GSmult • If output is well below full employment output, GSmult is high! • If the Fed is at the zero bound, the GSmult is high! • If prices and wages are sticky, the GSmult is high! • If the spending is debt financed, the GSmult is high! ...
... The Economics • Conditions that favor a high GSmult • If output is well below full employment output, GSmult is high! • If the Fed is at the zero bound, the GSmult is high! • If prices and wages are sticky, the GSmult is high! • If the spending is debt financed, the GSmult is high! ...
06 How Macroeconomics Lost Complexity Z1
... effects would operate. This Keynesian model provided a quite different vision about the economy and about policy than the Classical vision. To see the importance of this Keynesian model for policy, think of controlling an economy with emergent laws and many different equilibria. The “wait and see” p ...
... effects would operate. This Keynesian model provided a quite different vision about the economy and about policy than the Classical vision. To see the importance of this Keynesian model for policy, think of controlling an economy with emergent laws and many different equilibria. The “wait and see” p ...
Will Europe Face A Lost Decade? A Comparison With Japan`s
... After World War II, Japan experienced very high growth rates – similar to the ones China has recorded since the beginning of the 1980s – and quickly became the world’s second largest economy behind the United States. Between 1951 and the first oil shock in 1973, the average annual growth rate was 10 ...
... After World War II, Japan experienced very high growth rates – similar to the ones China has recorded since the beginning of the 1980s – and quickly became the world’s second largest economy behind the United States. Between 1951 and the first oil shock in 1973, the average annual growth rate was 10 ...
High Priests and Lowly Philosophers
... economic system repudiated the classical law of markets that maintained self-regulation. Prices were not linked to the supply and demand for money anymore than investment was determined by the interest rate in the modem economy, according to Keynes. The introduction of expectations into economic ana ...
... economic system repudiated the classical law of markets that maintained self-regulation. Prices were not linked to the supply and demand for money anymore than investment was determined by the interest rate in the modem economy, according to Keynes. The introduction of expectations into economic ana ...
Urgent Global Problems, New Global Solutions
... wealth for developed and developing countries. A number of other serious issues, such as global pandemics, drugs trafficking and people smuggling continue to pose new difficulties for governments across the world. ...
... wealth for developed and developing countries. A number of other serious issues, such as global pandemics, drugs trafficking and people smuggling continue to pose new difficulties for governments across the world. ...
`Akira Iriye, Global Community : the Role of International
... Akira Iriye, who is one of the most famous ...
... Akira Iriye, who is one of the most famous ...
BULLETIN CENTRAL BANK OF THE REPUBLIC OF TURKEY INSIDE:
... the world. While the central banks of developed economies have given priority to financial stability and growth during this period, those of emerging economies have focused on the rise of inflation. ...
... the world. While the central banks of developed economies have given priority to financial stability and growth during this period, those of emerging economies have focused on the rise of inflation. ...
Effects of U.S. Quantitative Easing on Latin American Economies
... the fact that these measures have triggered large surges in capital inflows to emerging countries, leading to exchange rate appreciation, high credit growth, and asset price booms. However, it is unclear whether these mentioned effects were transmitted to economic activity and inflation, and, if so, ...
... the fact that these measures have triggered large surges in capital inflows to emerging countries, leading to exchange rate appreciation, high credit growth, and asset price booms. However, it is unclear whether these mentioned effects were transmitted to economic activity and inflation, and, if so, ...
World Economic Situation and Prospects 2015
... Among non-oil commodities, the group of minerals, ores and metals experienced the sharpest price fall between October 2014 and April 2015, declining on average by 14 per cent. Low oil prices amplified the downward trend of non-oil commodity prices, particularly in the case of food and metals. This p ...
... Among non-oil commodities, the group of minerals, ores and metals experienced the sharpest price fall between October 2014 and April 2015, declining on average by 14 per cent. Low oil prices amplified the downward trend of non-oil commodity prices, particularly in the case of food and metals. This p ...
Regulation of Australian Service Oligopolies:
... in the Wicksellian (1898) “natural” rate of interest at the global level. 9 This clearly had financial implications. The global financial market Consistent with the segmentation theory of the yield curve (Johnson et al. 2010), long rates are not merely the commonly claimed (Borio and Disyatat 2011) ...
... in the Wicksellian (1898) “natural” rate of interest at the global level. 9 This clearly had financial implications. The global financial market Consistent with the segmentation theory of the yield curve (Johnson et al. 2010), long rates are not merely the commonly claimed (Borio and Disyatat 2011) ...
Mecpoc Symposium design
... “Short-run fix” Keynesians vs. “sound money” Hayekians When the U.S. and most other governments in the world urgently approved fiscal stimulus programs, the problem with orthodox economists supporting such plans was how to reconcile their policy advice with theoretical models. For the latter, fiscal ...
... “Short-run fix” Keynesians vs. “sound money” Hayekians When the U.S. and most other governments in the world urgently approved fiscal stimulus programs, the problem with orthodox economists supporting such plans was how to reconcile their policy advice with theoretical models. For the latter, fiscal ...
The Renminbi’s Prospects as a Global Reserve Currency
... some emerging market as well as advanced-economy central banks. The bilateral currency pact that China and Japan agreed to in December 2011 is an interesting example of how China is attempting to reduce its dependence on the dollar while other countries, especially in the Asian region, appear eager ...
... some emerging market as well as advanced-economy central banks. The bilateral currency pact that China and Japan agreed to in December 2011 is an interesting example of how China is attempting to reduce its dependence on the dollar while other countries, especially in the Asian region, appear eager ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... Government Deficit Issues If a government is trying to stimulate the economy through tax cuts or spending increases, this, other things being equal, will increase the government deficit. One thus expects deficits in recessions—cyclical deficits. ...
... Government Deficit Issues If a government is trying to stimulate the economy through tax cuts or spending increases, this, other things being equal, will increase the government deficit. One thus expects deficits in recessions—cyclical deficits. ...
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.