PART I: Multiple Choice/Fill-In
... rate of capital; 2) firms’ expectations of future output levels; and 3) the amount of excess labor and excess capital on hand. According to Keynesians, “animal spirits,” which describe investors’ feelings, increase the volatility of firms’ investment decisions. 5. Describe the pattern of monetary po ...
... rate of capital; 2) firms’ expectations of future output levels; and 3) the amount of excess labor and excess capital on hand. According to Keynesians, “animal spirits,” which describe investors’ feelings, increase the volatility of firms’ investment decisions. 5. Describe the pattern of monetary po ...
Answers to questions.
... appropriate interpretation of the index is that prices in the market basket of goods and services purchased by the typical consumer increased from the 1982-1984 period to May, 2006 by 101.9 percent. A typical consumer good that cost one dollar in 1983 now costs $2.02. Inflation is announced and repo ...
... appropriate interpretation of the index is that prices in the market basket of goods and services purchased by the typical consumer increased from the 1982-1984 period to May, 2006 by 101.9 percent. A typical consumer good that cost one dollar in 1983 now costs $2.02. Inflation is announced and repo ...
M o n e t a r y ... C o n t e n t s 1 November 1998
... appear optimistic. On the other hand, with the recent substantial easing in monetary policy, and New Zealand’s previous experience when conditions were at this level, projecting such a modest recovery may seem pessimistic. There remains considerable uncertainty about the outlook, as reflected in the ...
... appear optimistic. On the other hand, with the recent substantial easing in monetary policy, and New Zealand’s previous experience when conditions were at this level, projecting such a modest recovery may seem pessimistic. There remains considerable uncertainty about the outlook, as reflected in the ...
Shifts in Aggregate Demand Page 1 of 2
... We are building a model of the macroeconomy, and our goal is to be able to predict business cycles and explain how the economy will respond to changes in the environment. We have started with this aggregate demand curve, which is kind of the main axis of the model we are building. The aggregate dema ...
... We are building a model of the macroeconomy, and our goal is to be able to predict business cycles and explain how the economy will respond to changes in the environment. We have started with this aggregate demand curve, which is kind of the main axis of the model we are building. The aggregate dema ...
The central-bank balance sheet as an instrument of monetary policy
... equals the satiation level (m̄t (L)) when δm t = 0. For institutional reasons, it is not possible for the central bank to pay a negative interest rate on reserves, thus implying that 0 itm itd . To summarize, the central bank can play with the quantity of reserves Mt that are supplied, with the inte ...
... equals the satiation level (m̄t (L)) when δm t = 0. For institutional reasons, it is not possible for the central bank to pay a negative interest rate on reserves, thus implying that 0 itm itd . To summarize, the central bank can play with the quantity of reserves Mt that are supplied, with the inte ...
English title
... • In open economies, the exchange rate is an important part of the transmission mechanisms, as well as a source of shocks; • The performance seems to be good (or at least non-negative) ...
... • In open economies, the exchange rate is an important part of the transmission mechanisms, as well as a source of shocks; • The performance seems to be good (or at least non-negative) ...
NBER WORKING PAPER SERIES A TWO-YEAR REVIEW Michael Bruno Working Paper No. 2398
... appropriate initial synchronization of the most important nominal variables. In spite of the continued success of the stabilization program over the last two years, many problems remain. Excessive wage demands and a private consumption boom, in part the result of relative stability, have so far prev ...
... appropriate initial synchronization of the most important nominal variables. In spite of the continued success of the stabilization program over the last two years, many problems remain. Excessive wage demands and a private consumption boom, in part the result of relative stability, have so far prev ...
NBER WORKING PAPER SERIES THE ROLES OF MONETARY, FINANCIAL AND
... and financial policy of the "rational expectations revolution" in macroeconomics. The general conclusion is that most of the policy conclusions derived from conventional eclectic Neo-Keynesian models remain valid when rational expectations are introduced: to anticipate policy is not to neutralize it ...
... and financial policy of the "rational expectations revolution" in macroeconomics. The general conclusion is that most of the policy conclusions derived from conventional eclectic Neo-Keynesian models remain valid when rational expectations are introduced: to anticipate policy is not to neutralize it ...
Chapter 23
... the Fed is more often wrong than right, and stabilization policy end up making real output more volatile. They point to the Great Depression as the Fed's most tragic error. Friedman and Schwartz recommend that the Fed choose a reasonable rate of growth for the money supply, and stick to it. This is ...
... the Fed is more often wrong than right, and stabilization policy end up making real output more volatile. They point to the Great Depression as the Fed's most tragic error. Friedman and Schwartz recommend that the Fed choose a reasonable rate of growth for the money supply, and stick to it. This is ...
The Open Economy Revisited: the Mundell
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
... Mexico’s central bank had repeatedly promised foreign investors that it would not allow the peso’s value to fall, so it bought pesos and sold dollars to “prop up” the peso exchange rate. ...
Wells Fargo announces effective dates for changes to certain money
... and their impact on the fund and its share price can be sudden and unpredictable. The use of derivatives may reduce returns and/or increase volatility. Securities issued by U.S. government agencies or governmentsponsored entities may not be guaranteed by the U.S. Treasury. Certain investment strateg ...
... and their impact on the fund and its share price can be sudden and unpredictable. The use of derivatives may reduce returns and/or increase volatility. Securities issued by U.S. government agencies or governmentsponsored entities may not be guaranteed by the U.S. Treasury. Certain investment strateg ...
Monetary Policy Statement March 2013 Contents
... conditions. These periods of overvaluation can be protracted. However, exchange rates do eventually adjust in line with underlying economic conditions, often ...
... conditions. These periods of overvaluation can be protracted. However, exchange rates do eventually adjust in line with underlying economic conditions, often ...
what caused the great depression?
... are not necessary; all that is required is that the creation of money through bank lending drive the market rate of interest below that rate consistent with consumer preferences. In addition, Austrians also admit that the secondary depression, as Hayek termed it, was much more severe and responsible ...
... are not necessary; all that is required is that the creation of money through bank lending drive the market rate of interest below that rate consistent with consumer preferences. In addition, Austrians also admit that the secondary depression, as Hayek termed it, was much more severe and responsible ...
Taylor Rules and Potential Output
... aggregate supply relationship exists) has long been a central concern of macroeconomic research. Lucas (1973) proposes a model in which the effect arises because agents in the economy are unable to distinguish perfectly between aggregate and idiosyncratic shocks. He tests this model at the aggregate ...
... aggregate supply relationship exists) has long been a central concern of macroeconomic research. Lucas (1973) proposes a model in which the effect arises because agents in the economy are unable to distinguish perfectly between aggregate and idiosyncratic shocks. He tests this model at the aggregate ...
Franz Seitz - OTH Amberg
... policy shocks in Canada.3 For the case of Switzerland Lenz (1997) finds that only if net exports enter the money-supply equation as an explanatory variable is there evidence for asymmetric effects. Otherwise monetary shocks have no real effects at all. In trying to identify asymmetric effects it is ...
... policy shocks in Canada.3 For the case of Switzerland Lenz (1997) finds that only if net exports enter the money-supply equation as an explanatory variable is there evidence for asymmetric effects. Otherwise monetary shocks have no real effects at all. In trying to identify asymmetric effects it is ...
Monetary Policy Statement June 2011 Contents
... inflation remains constrained. As GDP growth picks up, underlying inflation is expected to rise. A gradual increase in the OCR over the next two years will be required to offset this, such that CPI inflation tracks close to the midpoint of the target band over the latter part of the projection. The ...
... inflation remains constrained. As GDP growth picks up, underlying inflation is expected to rise. A gradual increase in the OCR over the next two years will be required to offset this, such that CPI inflation tracks close to the midpoint of the target band over the latter part of the projection. The ...
Ch22
... The basic tool used to analyze the role of money in the economy in this book is aggregate demand and supply analysis. My experience in the classroom suggests that aggregate demand and supply analysis is actually easier for students to learn than the ISLM model. They find it more intuitive because it ...
... The basic tool used to analyze the role of money in the economy in this book is aggregate demand and supply analysis. My experience in the classroom suggests that aggregate demand and supply analysis is actually easier for students to learn than the ISLM model. They find it more intuitive because it ...
M o n e t a r y ... Contents 1 August 2002
... equity markets and heightened investor nervousness in the US and elsewhere. Although the New Zealand economy has performed well over the past year, the odds of an international slowdown have increased, which would have adverse consequences for the performance of the New Zealand economy. This renewed ...
... equity markets and heightened investor nervousness in the US and elsewhere. Although the New Zealand economy has performed well over the past year, the odds of an international slowdown have increased, which would have adverse consequences for the performance of the New Zealand economy. This renewed ...
