DIVERGENT INFLATION RATES BETWEEN MEMBERS OF THE EURO B
... inflation synergies between such ‘convergers’ and normal performers. From the comparison of Balassa-Samuelson estimates of differentials with actual differentials between 1995 and 2002, it emerges that the effect is most significant for the EMU’s formerly least developed countries and interestingly, ...
... inflation synergies between such ‘convergers’ and normal performers. From the comparison of Balassa-Samuelson estimates of differentials with actual differentials between 1995 and 2002, it emerges that the effect is most significant for the EMU’s formerly least developed countries and interestingly, ...
Chapter 13. Uses of Balance of Payments
... such as trade balance, current account balance, basic balance, official settlements balance, and the overall balance. The manual will include a discussion of the monetary presentation of balance of payments. A concept of liquidity abroad (extended M3) will be explained. ...
... such as trade balance, current account balance, basic balance, official settlements balance, and the overall balance. The manual will include a discussion of the monetary presentation of balance of payments. A concept of liquidity abroad (extended M3) will be explained. ...
Financial
... of return on such investment has also been positive, the public sector current account surplus (deficit) will have been larger (smaller) than the PSBR. ...
... of return on such investment has also been positive, the public sector current account surplus (deficit) will have been larger (smaller) than the PSBR. ...
Fiscal policy under floating exchange rates
... • In this figure we have interest rates on the horizontal axis and fiscal policy on the vertical axis defined in such a way that down and to the left implies more expansionary fiscal and monetary policy (lower interest rates and a higher budget deficit). The bliss points of the monetary and fiscal ...
... • In this figure we have interest rates on the horizontal axis and fiscal policy on the vertical axis defined in such a way that down and to the left implies more expansionary fiscal and monetary policy (lower interest rates and a higher budget deficit). The bliss points of the monetary and fiscal ...
Blanchard4e_IM_Ch05
... equilibrium. The increase in the interest rate will be small to the extent that money demand is not very sensitive to income, but is very sensitive to the interest rate. If money demand is not very sensitive to income, then the excess demand for money created by the increase in G will be small. If ...
... equilibrium. The increase in the interest rate will be small to the extent that money demand is not very sensitive to income, but is very sensitive to the interest rate. If money demand is not very sensitive to income, then the excess demand for money created by the increase in G will be small. If ...
Incorporating Gender in Keynes`s Theory of Monetary Production
... conflict. Output does not increase if returns from production are expected to grow at a rate below the rate of interest on money. ...
... conflict. Output does not increase if returns from production are expected to grow at a rate below the rate of interest on money. ...
Book Review on - Portland State University
... The first implication of the Japanese deflation experience is surely that the debate on liquidity trap rekindled for the first time since the 1930s. Chapter 4 by Ito and Mishkin, which I recommend readers read first, gives an overview of Japanese deflation experience and its monetary policy over th ...
... The first implication of the Japanese deflation experience is surely that the debate on liquidity trap rekindled for the first time since the 1930s. Chapter 4 by Ito and Mishkin, which I recommend readers read first, gives an overview of Japanese deflation experience and its monetary policy over th ...
Mr Gramlich gives his views on stabilization policy strategy (Central
... traditionally operated through changes in short term interest rates, which then change long term rates with some lag, and real spending with some further lag. But there are reasons why this lag may have speeded up in recent years — credit markets have now become more forward-looking and asset values ...
... traditionally operated through changes in short term interest rates, which then change long term rates with some lag, and real spending with some further lag. But there are reasons why this lag may have speeded up in recent years — credit markets have now become more forward-looking and asset values ...
School of Oriental and African Studies University of London London
... governments and central banks to influence price levels over a short time period. This discussion produces the obvious conclusion that governments and central banks do not in practice have the power to influence "the price level", because there is none. To varying degrees they can influence componen ...
... governments and central banks to influence price levels over a short time period. This discussion produces the obvious conclusion that governments and central banks do not in practice have the power to influence "the price level", because there is none. To varying degrees they can influence componen ...
Working Paper
... about the “Great Moderation” and praise for advances in monetary economics that had helped stabilize the economy [Bernanke 2004; Goodfriend, 2007; Blanchard, 2008]: now there is talk among policy insiders of need to rethink monetary policy. The status quo insider rethink focuses on the role of monet ...
... about the “Great Moderation” and praise for advances in monetary economics that had helped stabilize the economy [Bernanke 2004; Goodfriend, 2007; Blanchard, 2008]: now there is talk among policy insiders of need to rethink monetary policy. The status quo insider rethink focuses on the role of monet ...
Some Monetary Facts - Federal Reserve Bank of Minneapolis
... money growth and inflation has come from studies using cross-sectional data. In general, these studies include fewer countries and cover a shorter time period than does our study. For example, using a pooled time series-cross-sectional regression, Vogel (1974, p. 112) finds that "an increase in the ...
... money growth and inflation has come from studies using cross-sectional data. In general, these studies include fewer countries and cover a shorter time period than does our study. For example, using a pooled time series-cross-sectional regression, Vogel (1974, p. 112) finds that "an increase in the ...
dynamic AD
... and the real interest rate are at their natural values, inflation and expected inflation are at the target rate of inflation, and the nominal interest rate equals the natural rate of interest plus target inflation. • The long-run equilibrium is described as follows: Output and the real interest rate ...
... and the real interest rate are at their natural values, inflation and expected inflation are at the target rate of inflation, and the nominal interest rate equals the natural rate of interest plus target inflation. • The long-run equilibrium is described as follows: Output and the real interest rate ...