On Reserve: A Resource for Economic Educators
... Sol, sucre, colon, and gourde. When asked what these words have in common, someone familiar with the French language might quickly respond that they are all French words––but the similarity ends there since their meanings are quite unrelated. (For the curious at heart, sol––in English––is ground, su ...
... Sol, sucre, colon, and gourde. When asked what these words have in common, someone familiar with the French language might quickly respond that they are all French words––but the similarity ends there since their meanings are quite unrelated. (For the curious at heart, sol––in English––is ground, su ...
Optimal monetary policy in an economy with inflation persistence
... Rogo (1996, chapter 10) and Rotemberg and Woodford (1998,1999). ...
... Rogo (1996, chapter 10) and Rotemberg and Woodford (1998,1999). ...
PowerPoint
... corporations”: how to distribute it to the HH and Government sector is not mentioned(?): • NFCs often have a negative net worth, because “net assets < market value of equity issued” • This reflects that shareholders value the company as a whole higher than the sum its (net) assets • The net worth th ...
... corporations”: how to distribute it to the HH and Government sector is not mentioned(?): • NFCs often have a negative net worth, because “net assets < market value of equity issued” • This reflects that shareholders value the company as a whole higher than the sum its (net) assets • The net worth th ...
Inflation targeting framework and interest Rates
... interbank rate falls almost directly with the prime rate but lending rates turns to be sticky downwards. Commercial banks have always attributed these anomalies to default risk associated with loans. For the IT policy to promote saving, investment and economic growth, it should be effective on movem ...
... interbank rate falls almost directly with the prime rate but lending rates turns to be sticky downwards. Commercial banks have always attributed these anomalies to default risk associated with loans. For the IT policy to promote saving, investment and economic growth, it should be effective on movem ...
Gerald P. Dwyer Jr.
... What does the term policy mean? In this article, policy means a plan of action or a strategy. A policy may either be the outcome of some process or it may be a plan designed specifically to further some goal. In either case, dynamic aspects of the economy are sufficiently important that no sensible ...
... What does the term policy mean? In this article, policy means a plan of action or a strategy. A policy may either be the outcome of some process or it may be a plan designed specifically to further some goal. In either case, dynamic aspects of the economy are sufficiently important that no sensible ...
Moore lcr08 7952932 en
... In this paper, we provide a model of monetary economy with di¤erences in liquidity across assets. Our purpose is to understand how aggregate production and asset prices ‡uctuate with recurrent shocks to productivity and liquidity. In so doing, we want to …nd out what role government policy might hav ...
... In this paper, we provide a model of monetary economy with di¤erences in liquidity across assets. Our purpose is to understand how aggregate production and asset prices ‡uctuate with recurrent shocks to productivity and liquidity. In so doing, we want to …nd out what role government policy might hav ...
Topic VIII
... reserves from the Fed using their assets (typically short term bonds) as collateral. Common in the early days of the Fed. Rare later On large scale in recent financial crisis. ...
... reserves from the Fed using their assets (typically short term bonds) as collateral. Common in the early days of the Fed. Rare later On large scale in recent financial crisis. ...
29.3 aggregate demand
... Along the aggregate supply curve, the only influence that on production plans that changes is the price level. All the other influences on production plans remain constant. Among these other influences are: • The money wage rate • The money prices of other resources Along the potential GDP line, whe ...
... Along the aggregate supply curve, the only influence that on production plans that changes is the price level. All the other influences on production plans remain constant. Among these other influences are: • The money wage rate • The money prices of other resources Along the potential GDP line, whe ...
Bank Interest Rates and Loan Determinants
... present value of its future expected return. Variables of scale, such as economic activity or disposable income, accordingly reflect the ability of households to contract debt, since the expectation of higher levels of income, permitting a higher debt burden to be serviced, leads to higher indebtedne ...
... present value of its future expected return. Variables of scale, such as economic activity or disposable income, accordingly reflect the ability of households to contract debt, since the expectation of higher levels of income, permitting a higher debt burden to be serviced, leads to higher indebtedne ...
NBER WORKING PAPER SERIES Marvin Goodfriend Working Paper 13580
... In the 1970s, monetary policy was in disarray. The situation in the United States was typical: inflation peaked above 10 percent in 1974 and again in 1980. Many central bankers were pessimistic about the power of monetary policy to reduce inflation, at least at any politically acceptable cost (Burn ...
... In the 1970s, monetary policy was in disarray. The situation in the United States was typical: inflation peaked above 10 percent in 1974 and again in 1980. Many central bankers were pessimistic about the power of monetary policy to reduce inflation, at least at any politically acceptable cost (Burn ...
NBER WORKING PAPER SERIES DOES STABILIZING INFLATION CONTRIBUTE TO STABILIZING ECONOMIC ACTIVITY?
... arise if inflation expectations are well anchored. The oil shocks in the 1970s caused large increases in inflation not only through their direct effects on household energy prices but also through their “second round” effects on the prices of other goods that reflected, in part, expectations of hig ...
... arise if inflation expectations are well anchored. The oil shocks in the 1970s caused large increases in inflation not only through their direct effects on household energy prices but also through their “second round” effects on the prices of other goods that reflected, in part, expectations of hig ...
NBER WORKING PAPER SERIES Peter N. Ireland Working Paper 16420
... those developed by Ireland (2004, 2007). The modeling strategy thereby follows Canova’s (2009) by using a small-scale model that focuses on three main equations: the New Keynesian IS curve, describing the behavior of a representative household, the New Keynesian Phillips curve, describing the optimi ...
... those developed by Ireland (2004, 2007). The modeling strategy thereby follows Canova’s (2009) by using a small-scale model that focuses on three main equations: the New Keynesian IS curve, describing the behavior of a representative household, the New Keynesian Phillips curve, describing the optimi ...
NBER WORKING PAPER SERIES BACKWARD-LOOKING INTEREST-RATE RULES, INTEREST-RATE SMOOTHING, AND MACROECONOMIC INSTABILITY
... a backward-looking measure of inflation into the Taylor rule. For plausible parameterizations, we show that under active backward-looking rules attracting equilibrium cycles exist. The existence of attracting cycles represents a severe case of policy induced macroeconomic instability. This is becau ...
... a backward-looking measure of inflation into the Taylor rule. For plausible parameterizations, we show that under active backward-looking rules attracting equilibrium cycles exist. The existence of attracting cycles represents a severe case of policy induced macroeconomic instability. This is becau ...
Have We Underestimated the Likelihood and Severity
... Finally, research in this area suggested that monetary policies could be crafted that would greatly mitigate any effect of the ZLB. Proposed strategies to accomplish this goal included responding more aggressively to economic weakness and falling inflation, or promising to run an easier monetary pol ...
... Finally, research in this area suggested that monetary policies could be crafted that would greatly mitigate any effect of the ZLB. Proposed strategies to accomplish this goal included responding more aggressively to economic weakness and falling inflation, or promising to run an easier monetary pol ...
Mankiw 6e PowerPoints - University of California, Davis
... interest rate and demand for goods & services the Phillips curve, which relates inflation to the gap between output and its natural level, expected inflation, and supply shocks adaptive expectations, a simple model of inflation expectations CHAPTER 14 ...
... interest rate and demand for goods & services the Phillips curve, which relates inflation to the gap between output and its natural level, expected inflation, and supply shocks adaptive expectations, a simple model of inflation expectations CHAPTER 14 ...