MEMORANDUM FOR FROM DATE
... rose only slightly from 2001 to 2003, while our contemporary estimates and forecasts rose over the period. In effect, the contemporary projections treated a larger part of realised growth as coming from increased capacity rather than excess demand. That partly explains why the RBNZ saw a lower OCR a ...
... rose only slightly from 2001 to 2003, while our contemporary estimates and forecasts rose over the period. In effect, the contemporary projections treated a larger part of realised growth as coming from increased capacity rather than excess demand. That partly explains why the RBNZ saw a lower OCR a ...
Cyclical patterns of the spanish economy
... Spanish economic aggregates from a business cycle viewpoint; and further, to examine to what extent such regularities differ from those found in other economies. For this purpose, we compute correlations of various types among the deviations from trend of a wide array of variables, emphasising empir ...
... Spanish economic aggregates from a business cycle viewpoint; and further, to examine to what extent such regularities differ from those found in other economies. For this purpose, we compute correlations of various types among the deviations from trend of a wide array of variables, emphasising empir ...
unit #8 slides
... Many CONSUMERS like to buy FOREIGN-MADE, or IMPORTED, GOODS because they are CHEAPER than goods made in their own countries When this happens, companies in the CONSUMER’S own country LOSE SALES, leading to LOWER PRODUCTION & LAY-OFFS of WORKERS When this happens, affected workers & industries ...
... Many CONSUMERS like to buy FOREIGN-MADE, or IMPORTED, GOODS because they are CHEAPER than goods made in their own countries When this happens, companies in the CONSUMER’S own country LOSE SALES, leading to LOWER PRODUCTION & LAY-OFFS of WORKERS When this happens, affected workers & industries ...
NBER WORKING PAPER SERIES THE EFFECT OF CONVENTIONAL AND UNCONVENTIONAL MONETARY
... which it extended credit to the private economy through the purchase of a variety of assets including mortgage-backed securities and long-maturity government bonds. The current debate about the role of monetary policy is not just about the effects of policy on inflation. It is also about the effecti ...
... which it extended credit to the private economy through the purchase of a variety of assets including mortgage-backed securities and long-maturity government bonds. The current debate about the role of monetary policy is not just about the effects of policy on inflation. It is also about the effecti ...
2) The misery index in 1980 exceeded 25.
... the unemployment rate fell even though less people are working (feel free to Google it). Using the formula for the unemployment rate, show how this, the idea that the unemployment rate can fall even though less people are employed, is not as unusual as one may think. Be specific as to what happens, ...
... the unemployment rate fell even though less people are working (feel free to Google it). Using the formula for the unemployment rate, show how this, the idea that the unemployment rate can fall even though less people are employed, is not as unusual as one may think. Be specific as to what happens, ...
The recession of 1937—A cautionary tale
... the Fed bought commercial paper and bankers’ acceptances, compared with open-market rates. The Fed’s rate in panel A is somewhat lower than the market rate because the latter pertains to paper of four to six months maturity, whereas the Fed purchased shorter maturities. Both panels in figure 6 show ...
... the Fed bought commercial paper and bankers’ acceptances, compared with open-market rates. The Fed’s rate in panel A is somewhat lower than the market rate because the latter pertains to paper of four to six months maturity, whereas the Fed purchased shorter maturities. Both panels in figure 6 show ...
Monetary Endogeneity and the Quantity Theory
... prices in, say, gold Crowns are found simply by dividing by the number of ounces of gold in a Crown. If the definition of a Crown is changed such that it now becomes the accounting-name for half the amount of gold that it previously represented, the natural effect is (a) a doubling of the nominal mo ...
... prices in, say, gold Crowns are found simply by dividing by the number of ounces of gold in a Crown. If the definition of a Crown is changed such that it now becomes the accounting-name for half the amount of gold that it previously represented, the natural effect is (a) a doubling of the nominal mo ...
Over the past 20 years inflation in the U.S. econ-
... moreover, it has been relatively stable, with a standard deviation of just 1.0%.These statistics may give the impression that inflation has been tamed, or even beaten into submission. However, the period has not been without inflation scares; consider, for example, the run up in inflation prior to t ...
... moreover, it has been relatively stable, with a standard deviation of just 1.0%.These statistics may give the impression that inflation has been tamed, or even beaten into submission. However, the period has not been without inflation scares; consider, for example, the run up in inflation prior to t ...
Answers to Practice Questions 8
... a. increases in government purchases, investment spending, autonomous consumption, taxes, or the money supply b. increases in government purchases, investment spending, autonomous consumption, or the money supply c. decreases in government purchases, investment spending, autonomous consumption, taxe ...
... a. increases in government purchases, investment spending, autonomous consumption, taxes, or the money supply b. increases in government purchases, investment spending, autonomous consumption, or the money supply c. decreases in government purchases, investment spending, autonomous consumption, taxe ...
Keynes`s relevance in the new millennium
... Price stickiness was no more relevant either, but to show this requires us to review the heart of Keynes’s argument. This was that modern economies were characterised by two obvious features. One was the use of money and the other was that (for the vast majority of workers) ‘employment’ meant being ...
... Price stickiness was no more relevant either, but to show this requires us to review the heart of Keynes’s argument. This was that modern economies were characterised by two obvious features. One was the use of money and the other was that (for the vast majority of workers) ‘employment’ meant being ...
Inflation: Islamic and Conventional Economic Systems: Evidence
... According to monetarists led by Milton Friedman, inflation is only a monetary phenomenon. When money supply increases, people have more money than they desire. They, consequently, spend the extra money. Since goods and services are constant the prices will go up. It is also possible for the consumer ...
... According to monetarists led by Milton Friedman, inflation is only a monetary phenomenon. When money supply increases, people have more money than they desire. They, consequently, spend the extra money. Since goods and services are constant the prices will go up. It is also possible for the consumer ...
Chapter 8: How the Fed Moves the Economy
... can cause an increase in the demand for goods from any of these sectors, then it can cause an increase in real GDP, provided firms are willing to produce the additional output. Similarly, if the Fed can dampen demand, then it can reduce real GDP and even cause a recession. In this chapter we will s ...
... can cause an increase in the demand for goods from any of these sectors, then it can cause an increase in real GDP, provided firms are willing to produce the additional output. Similarly, if the Fed can dampen demand, then it can reduce real GDP and even cause a recession. In this chapter we will s ...
CENTRAL BANK MONEY AND PAYMENT FINALITY
... the implementation and transmission mechanism of a central bank’s monetary policy depends also on the smooth functioning of domestic payment systems, and hence the issue of payment finality is of both a private and a public concern. While the question of payment finality has been addressed by lawye ...
... the implementation and transmission mechanism of a central bank’s monetary policy depends also on the smooth functioning of domestic payment systems, and hence the issue of payment finality is of both a private and a public concern. While the question of payment finality has been addressed by lawye ...
COLUMBIA UNIVERSITY, NEW YORK CITY, 5 MAY 2016 THE
... a time, with the people apparently acquiescing in a polity’s system of government, including its delegation of powers. But when things go wrong or are just disappointing or when it suits part of the community to remember some of society’s deep norms and beliefs, those dormant concerns can rise with ...
... a time, with the people apparently acquiescing in a polity’s system of government, including its delegation of powers. But when things go wrong or are just disappointing or when it suits part of the community to remember some of society’s deep norms and beliefs, those dormant concerns can rise with ...