NBER WORKING PAPER SERIES Jesús Fernández-Villaverde
... model that is su¢ ciently detailed to account for the dynamics of the data reasonably well. But this goal con‡icts with the objective of having a parsimonious and soundly microfounded description of the aggregate economy. Given our investigation, a default choice for a model is a standard DSGE econo ...
... model that is su¢ ciently detailed to account for the dynamics of the data reasonably well. But this goal con‡icts with the objective of having a parsimonious and soundly microfounded description of the aggregate economy. Given our investigation, a default choice for a model is a standard DSGE econo ...
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... The survey questionnaire focuses on qualitative information: assessments of a country’s general economic situation and expectations regarding key economic indicators. It has proven a useful tool, since it reveals economic changes earlier than conventional business statistics. The individual replies ...
... The survey questionnaire focuses on qualitative information: assessments of a country’s general economic situation and expectations regarding key economic indicators. It has proven a useful tool, since it reveals economic changes earlier than conventional business statistics. The individual replies ...
Topic: Great Depression and New Deal (3.1) Score 3.0 The student
... depression in U.S. history; that it was fought with New Deal policies, and ultimately ended by economic growth related to World War II. ...
... depression in U.S. history; that it was fought with New Deal policies, and ultimately ended by economic growth related to World War II. ...
The End of the Treasury
... Chancellors shrugged at the sight of the pound rising or falling. They no longer boasted of what ‘they’ had done with interest rates. No one thinks the Treasury should have the tools to regulate in-year spending. The term “incomes policy” is now a political slur on those daring to interfere in the f ...
... Chancellors shrugged at the sight of the pound rising or falling. They no longer boasted of what ‘they’ had done with interest rates. No one thinks the Treasury should have the tools to regulate in-year spending. The term “incomes policy” is now a political slur on those daring to interfere in the f ...
Commentary: How Should Monetary Policy Be ∗ Michael Woodford
... is of the form (2) assumed above – and therefore depends only upon the variability of a relatively short-run measure of the inflation rate, not upon cumulative changes in the price level – a policy that responds to deviations in the price level from some target value (or deterministic trend path) ma ...
... is of the form (2) assumed above – and therefore depends only upon the variability of a relatively short-run measure of the inflation rate, not upon cumulative changes in the price level – a policy that responds to deviations in the price level from some target value (or deterministic trend path) ma ...
Optimal Monetary Policy when Information is - HEC Lausanne
... Indeed, the analysis of optimal monetary policy has been done mostly in the context of exogenous imperfect information. In that context, the general result is that optimal monetary policy targets price stability, at least for shocks driving ecient uctuations, like productivity shocks. This extends ...
... Indeed, the analysis of optimal monetary policy has been done mostly in the context of exogenous imperfect information. In that context, the general result is that optimal monetary policy targets price stability, at least for shocks driving ecient uctuations, like productivity shocks. This extends ...
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... WES results, the capital expenditure and private consumption are expected to remain downbeat in the course of the next six months. In Russia, the surveyed economists emphasized that lack ment’s economic policy” has been emphasized by the of international competitiveness, accompanied by WES experts. ...
... WES results, the capital expenditure and private consumption are expected to remain downbeat in the course of the next six months. In Russia, the surveyed economists emphasized that lack ment’s economic policy” has been emphasized by the of international competitiveness, accompanied by WES experts. ...
So what is economic success? Going beyond GDP
... considering and the project as a whole. If you are interested in these issues, in whatever capacity, then we want to hear from you. Your feedback will influence future activities and outputs. ...
... considering and the project as a whole. If you are interested in these issues, in whatever capacity, then we want to hear from you. Your feedback will influence future activities and outputs. ...
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... and moreover their lead times are long and results uncertain. Relative price changes, by contrast, are known to produce substantial shifts in developing country agricultural resource allocation even in the short run (Askari and Cummings 1976). Relative price shifts in agriculture may have very indir ...
... and moreover their lead times are long and results uncertain. Relative price changes, by contrast, are known to produce substantial shifts in developing country agricultural resource allocation even in the short run (Askari and Cummings 1976). Relative price shifts in agriculture may have very indir ...
Effects of smart specialization on regional economic resilience in EU
... based on the recognition that successful development and innovation strategies cannot be replicated mechanically in each and every different regional context. They also argue that rather than trying to generate ‘technology miracles’ in economically disadvantaged areas, the best way to close the gap ...
... based on the recognition that successful development and innovation strategies cannot be replicated mechanically in each and every different regional context. They also argue that rather than trying to generate ‘technology miracles’ in economically disadvantaged areas, the best way to close the gap ...
Schelkle , Waltraud (2002) 'Disciplining Device or Insurance Arrangement? Two Approaches to the Political Economy of EMU Policy Coordination', EI WP 2002-01 (December)
... some fundamental reforms, such as differentiating between countries with high and low levels of public debt. This row indicates that the institutionalisation of EMU policy coordination is still in a state of flux and that EU policymakers perceive shortcomings that call for reform. In the academic de ...
... some fundamental reforms, such as differentiating between countries with high and low levels of public debt. This row indicates that the institutionalisation of EMU policy coordination is still in a state of flux and that EU policymakers perceive shortcomings that call for reform. In the academic de ...
Moving to a New Global Competitiveness Index
... the economy can upgrade their productivity. Identifying the drivers of productivity (and ultimately prosperity) across countries is one of the oldest occupations of economic research.Theoretical models initially concentrated on the role of capital accumulation in economic growth.3 Over the last deca ...
... the economy can upgrade their productivity. Identifying the drivers of productivity (and ultimately prosperity) across countries is one of the oldest occupations of economic research.Theoretical models initially concentrated on the role of capital accumulation in economic growth.3 Over the last deca ...
Monetary Policy in Japan Since the Late 1980s
... zero for almost a year at the time of this writing (February 2000). There are increasing requests for further monetary easing, from both inside and outside the country, to prompt economic recovery. The requests often come with the proposal that the central bank should purchase some specific assets, ...
... zero for almost a year at the time of this writing (February 2000). There are increasing requests for further monetary easing, from both inside and outside the country, to prompt economic recovery. The requests often come with the proposal that the central bank should purchase some specific assets, ...
External financing and economic activity in the euro area
... and prices because means of payments that were hoarded get back into circulation, this may not necessarily be the case. Accordingly, one would at least expect that the average effect of changes in other sources of financing on macroeconomic variables is orders of magnitude smaller than the direct on ...
... and prices because means of payments that were hoarded get back into circulation, this may not necessarily be the case. Accordingly, one would at least expect that the average effect of changes in other sources of financing on macroeconomic variables is orders of magnitude smaller than the direct on ...
Economics HL paper 2
... • domestic producers will be forced to become more efficient as appreciation means that their products are less competitive in international markets and as imported goods become less expensive • the effect of the appreciation on the current account and AD depends on the elasticities of demand for ex ...
... • domestic producers will be forced to become more efficient as appreciation means that their products are less competitive in international markets and as imported goods become less expensive • the effect of the appreciation on the current account and AD depends on the elasticities of demand for ex ...
The impact of ECB communication on financial market
... the president’s introductory statement at the monthly press conferences after a monetary policy meeting.2 The statements are assessed by giving each a grade on a scale from -3 (strong downside risks) to +3 (strong upside risks). The impact on expectations is measured by the day-to-day reaction of th ...
... the president’s introductory statement at the monthly press conferences after a monetary policy meeting.2 The statements are assessed by giving each a grade on a scale from -3 (strong downside risks) to +3 (strong upside risks). The impact on expectations is measured by the day-to-day reaction of th ...
Advanced Manufacturing in the American South
... have contributed to a sizable regional deficit in innovation activity. 2. Innovation deficits are negatives for the quality of both labor and non-labor inputs into the production process and for the advancement of the production process itself, holding back the total factor productivity gains neede ...
... have contributed to a sizable regional deficit in innovation activity. 2. Innovation deficits are negatives for the quality of both labor and non-labor inputs into the production process and for the advancement of the production process itself, holding back the total factor productivity gains neede ...
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... present situation improved further in nearly all euro area countries. However, at the same time the economic expectations have been downgraded somewhat, but still remain positive. ...
... present situation improved further in nearly all euro area countries. However, at the same time the economic expectations have been downgraded somewhat, but still remain positive. ...
What is the track record of OECD Economic Projections
... the performance of its forecasts for real GDP with those published by other institutions in May and November of each year. The results of this reassessment are shown in the attached technical appendix, together with the initial conclusions of Riksbank.3 The table in appendix displays a better perfor ...
... the performance of its forecasts for real GDP with those published by other institutions in May and November of each year. The results of this reassessment are shown in the attached technical appendix, together with the initial conclusions of Riksbank.3 The table in appendix displays a better perfor ...
Preview Page 1 of 1 D:\clases\Government\6.2.6.mht 02/04/2012
... Question 1a of 10 ( 1 economic policy 244326 ) Maximum Attempts: ...
... Question 1a of 10 ( 1 economic policy 244326 ) Maximum Attempts: ...
I Changes in Business Cycles: Evidence and Explanations Christina D. Romer
... all seemed destined to radically reduce short-run economic fluctuations in the postwar era. In Burns’s (p. 17) words, “[T]he business cycle is unlikely to be as disturbing or troublesome to our children as it once was to our fathers.” This essay analyzes to what extent Burns’s prediction of growing ...
... all seemed destined to radically reduce short-run economic fluctuations in the postwar era. In Burns’s (p. 17) words, “[T]he business cycle is unlikely to be as disturbing or troublesome to our children as it once was to our fathers.” This essay analyzes to what extent Burns’s prediction of growing ...
Economics Year-at-a-Glance Semester Class Only
... Describe the functions of money (ECO.12A) Describe the characteristics of money, including commodity money, fiat money, and representative money (ECO.12B) Examine the positive and negative aspects of barter, currency, credit cards, and debit cards (ECO.12C) Explain the structure of the Federal Reser ...
... Describe the functions of money (ECO.12A) Describe the characteristics of money, including commodity money, fiat money, and representative money (ECO.12B) Examine the positive and negative aspects of barter, currency, credit cards, and debit cards (ECO.12C) Explain the structure of the Federal Reser ...
LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600034 DEPARTMENT OF ECONOMICS Major Core (MC)
... Environmental externalities – market failure – Pareto optimality and competitive equilibrium – common property resources and environmental quality as a public good – use values; option values and non use values; valuation methods – Hedonic property values and household production models (travel cost ...
... Environmental externalities – market failure – Pareto optimality and competitive equilibrium – common property resources and environmental quality as a public good – use values; option values and non use values; valuation methods – Hedonic property values and household production models (travel cost ...
paper - Institute for New Economic Thinking
... anxiety or words for excitement on a virtual scale. The results show (after standard procedures for removal of outliers) that a word rated highly by one participant on a particular scale was usually rated highly by other participants too. Additionally, there was a strong negative correlation between ...
... anxiety or words for excitement on a virtual scale. The results show (after standard procedures for removal of outliers) that a word rated highly by one participant on a particular scale was usually rated highly by other participants too. Additionally, there was a strong negative correlation between ...
A Lesson from the Great Depression that the Fed Might... A Comparison of the 1932 Open Market Purchases with Quantitative...
... Several papers explore the consequences of the 1932 open market operation for the economy. Meltzer (2003) discusses the economic and political context of the operation. Hsieh and Romer (2006) examine the e¤ects of the operation on expectations of devaluation, and whether the Fed could have continued ...
... Several papers explore the consequences of the 1932 open market operation for the economy. Meltzer (2003) discusses the economic and political context of the operation. Hsieh and Romer (2006) examine the e¤ects of the operation on expectations of devaluation, and whether the Fed could have continued ...
American School (economics)
See also American System (economic plan).The American School, also known as the ""National System"", represents three different yet related constructs in politics, policy and philosophy. It was the American policy from the 1860s to the 1970s, waxing and waning in actual degrees and details of implementation. Historian Michael Lind describes it as a coherent applied economic philosophy with logical and conceptual relationships with other economic ideas.It is the macroeconomic philosophy that dominated United States national policies from the time of the American Civil War until the mid-twentieth century. Closely related to mercantilism, it can be seen as contrary to classical economics. It consisted of these three core policies:protecting industry through selective high tariffs (especially 1861–1932) and through subsidies (especially 1932–70)government investments in infrastructure creating targeted internal improvements (especially in transportation)a national bank with policies that promote the growth of productive enterprises rather than speculation.It is a capitalist economic school based on the Hamiltonian economic program. The American School of capitalism was intended to allow the United States to become economically independent and nationally self-sufficient.The American School's key elements were promoted by John Q. Adams and his National Republican Party, Henry Clay and the Whig Party, and Abraham Lincoln through the early Republican Party which embraced, implemented, and maintained this economic system.During its American System period the United States grew into the largest economy in the world with the highest standard of living, surpassing the British Empire by the 1880s.