Working papers - Federal Reserve Bank of Cleveland
... stagnant, in that it is below trend and worsening relative to trend; and stagflation must be a sufficiently negative event that it lasts longer than a single quarter. Constructing such an algorithm and applying it to U.S. data suggests that the United States faced two bouts of stagflation in the po ...
... stagnant, in that it is below trend and worsening relative to trend; and stagflation must be a sufficiently negative event that it lasts longer than a single quarter. Constructing such an algorithm and applying it to U.S. data suggests that the United States faced two bouts of stagflation in the po ...
Drifting Inflation Targets and Stagflation
... thereby explaining the high inflation of the decade (e.g., Ireland 2007, among others). But this research has been silent on the issue of whether monetary factors alone could have caused the economic stagnation—i.e., the “stag” in stagflation—of the decade as well. This paper examines the connection ...
... thereby explaining the high inflation of the decade (e.g., Ireland 2007, among others). But this research has been silent on the issue of whether monetary factors alone could have caused the economic stagnation—i.e., the “stag” in stagflation—of the decade as well. This paper examines the connection ...
macroeconomics
... fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Camb ...
... fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Camb ...
Chapter 27 Money and Inflation
... According to the monetarist view of inflation, a continually increasing money supply causes (a) the aggregate demand curve to shift right along a stationary aggregate supply curve, leading to continually increasing aggregate output and prices. (b) the aggregate supply curve to shift left along a sta ...
... According to the monetarist view of inflation, a continually increasing money supply causes (a) the aggregate demand curve to shift right along a stationary aggregate supply curve, leading to continually increasing aggregate output and prices. (b) the aggregate supply curve to shift left along a sta ...
Macroeconomics
... Consistent with this approach, there are no appendices or ‘afterthought’ chapters. If important material is challenging then it is still included in the main body of the text; it is not relegated elsewhere for a limited audience; the text makes choices on what issues and topics are important in an i ...
... Consistent with this approach, there are no appendices or ‘afterthought’ chapters. If important material is challenging then it is still included in the main body of the text; it is not relegated elsewhere for a limited audience; the text makes choices on what issues and topics are important in an i ...
This PDF is a selection from a published volume from
... conditions deteriorate. A famous instance of forward looking policy occurred in 1994 when the Federal Reserve moved preemptively against increases in inflation that had only begun to show up in long-term bond yields. Goodfriend (2005) concludes that the preemptive strike was successful, as inflation ...
... conditions deteriorate. A famous instance of forward looking policy occurred in 1994 when the Federal Reserve moved preemptively against increases in inflation that had only begun to show up in long-term bond yields. Goodfriend (2005) concludes that the preemptive strike was successful, as inflation ...
INFLATION IN VIETNAM
... affected significantly (Vinh, 2007).The government control of the economy and a nonconvertible currency have protected Vietnam from what could have been a more severe impact resulting from the East Asian financial crisis in 1997. Inflation was controlled at a fairly low rate while the average GDP gr ...
... affected significantly (Vinh, 2007).The government control of the economy and a nonconvertible currency have protected Vietnam from what could have been a more severe impact resulting from the East Asian financial crisis in 1997. Inflation was controlled at a fairly low rate while the average GDP gr ...
How Independent Should a Central Bank Be?
... The rate of inflation in the consumer price index over the past three years has been low and stable, averaging 2.8 percent and never exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemploym ...
... The rate of inflation in the consumer price index over the past three years has been low and stable, averaging 2.8 percent and never exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemploym ...
physical savings - Editorial Express
... in India is expected to depend on some other relevant variables. The first variable is the real interest rate. What is the effect of real interest rate (IR) on savings? The effect of an increase in real interest rate on saving could be either positive or negative. An increase in real interest rate i ...
... in India is expected to depend on some other relevant variables. The first variable is the real interest rate. What is the effect of real interest rate (IR) on savings? The effect of an increase in real interest rate on saving could be either positive or negative. An increase in real interest rate i ...
The Interest Rate Effect on Private Saving: Alternative Perspectives
... saving may differ depending on macroeconomic or demographical conditions or policy environment. Examining the link between the interest rate and saving is important. In the short term, whether policy interest rates and saving rates have a positive or negative relationship also refers to the kind of ...
... saving may differ depending on macroeconomic or demographical conditions or policy environment. Examining the link between the interest rate and saving is important. In the short term, whether policy interest rates and saving rates have a positive or negative relationship also refers to the kind of ...
AP ECON – Final Exam Review
... all unspent money is deposited in the bank. The interest rate measures which of the following? I. the cost of using a dollar today rather than a year from now II. the benefit of delaying the use of a dollar from today until a year from now III. the price of borrowing money calculated as a percentage ...
... all unspent money is deposited in the bank. The interest rate measures which of the following? I. the cost of using a dollar today rather than a year from now II. the benefit of delaying the use of a dollar from today until a year from now III. the price of borrowing money calculated as a percentage ...
Unfunded Liabilities of State and Local Government
... a pension plan’s accrued liabilities. However, pensioners have a durable legal claim to receive their benefits and consequently, it is more appropriate to use a lower discount rate in calculating the plans’ accrued liabilities. Due to the use of high discount rates, the liabilities of state and loca ...
... a pension plan’s accrued liabilities. However, pensioners have a durable legal claim to receive their benefits and consequently, it is more appropriate to use a lower discount rate in calculating the plans’ accrued liabilities. Due to the use of high discount rates, the liabilities of state and loca ...
1 M.A.PART - I ECONOMIC PAPER
... of income. When income is zero (00) people spend out of their past saving or borrowed income on consumption because they must eat in order to live. When income increases in the economy to the extent of Rs. 70 crores, but it is not enough to meet the consumption expenditure of Rs. 80 crores (negative ...
... of income. When income is zero (00) people spend out of their past saving or borrowed income on consumption because they must eat in order to live. When income increases in the economy to the extent of Rs. 70 crores, but it is not enough to meet the consumption expenditure of Rs. 80 crores (negative ...
12INFLATION*
... B) expansionary monetary policy followed by decreases in the money wage rate. C) rises in prices of raw materials followed by expansionary monetary policy. D) simultaneous expansionary aggregate demand and aggregate supply shifts. Answer: A Topic: Initial Effect of an Increase in Aggregate ...
... B) expansionary monetary policy followed by decreases in the money wage rate. C) rises in prices of raw materials followed by expansionary monetary policy. D) simultaneous expansionary aggregate demand and aggregate supply shifts. Answer: A Topic: Initial Effect of an Increase in Aggregate ...
NBER WORKING PAPER SERIES ON THE ORIGINS OF "A MONETARY HISTORY"
... diffuse widely through the economy, automatically produced forces – falling profits resulting from the pressure of costs on prices and tensions in the money market – that inevitably produced a contraction. The contraction, which would also diffuse widely, then produced changes in relative prices, su ...
... diffuse widely through the economy, automatically produced forces – falling profits resulting from the pressure of costs on prices and tensions in the money market – that inevitably produced a contraction. The contraction, which would also diffuse widely, then produced changes in relative prices, su ...
modules 31 to 35
... Label equilibrum at the natural rate of unemployment point A. 2) Label point B. If the government decreases taxes, where is point B in the Phillip's curve graph. 3) Using point A as the starting point, label point C if Oil prices increase ...
... Label equilibrum at the natural rate of unemployment point A. 2) Label point B. If the government decreases taxes, where is point B in the Phillip's curve graph. 3) Using point A as the starting point, label point C if Oil prices increase ...
Macroeconomics
... We can get a good sense of who consumes the goods and services produced by looking at the percentages of total income earned by different groups of people. The 20 percent of people with the lowest incomes earn about 5 percent of total income, while the richest 20 percent earn close to 50 percent of ...
... We can get a good sense of who consumes the goods and services produced by looking at the percentages of total income earned by different groups of people. The 20 percent of people with the lowest incomes earn about 5 percent of total income, while the richest 20 percent earn close to 50 percent of ...
Principles of Macroeconomics
... Consistent with this approach, there are no appendices or ‘afterthought’ chapters. If important material is challenging then it is still included in the main body of the text; it is not relegated elsewhere for a limited audience; the text makes choices on what issues and topics are important in an i ...
... Consistent with this approach, there are no appendices or ‘afterthought’ chapters. If important material is challenging then it is still included in the main body of the text; it is not relegated elsewhere for a limited audience; the text makes choices on what issues and topics are important in an i ...
Three essays about monetary policy in China - ROS Home
... the lending rates and the deposit rates. Meanwhile, to curb the expansion of bank loans the PBC severely cut commercial banks’ loans for fixed capital formation. Later in 1994, a further enormous rise in inflation hit China with the annual rate reaching 24.2 per cent. This time, the PBC did not incr ...
... the lending rates and the deposit rates. Meanwhile, to curb the expansion of bank loans the PBC severely cut commercial banks’ loans for fixed capital formation. Later in 1994, a further enormous rise in inflation hit China with the annual rate reaching 24.2 per cent. This time, the PBC did not incr ...
Inflation First Pages
... 1990s, Japan entered a period of sustained deflation. This was in part caused by a tremendous fall in asset prices, particularly land and stocks, but also by a long recession. Short-term interest rates were essentially zero after 2000. For example, the yield on 1 year bank deposits was 0.032 percent ...
... 1990s, Japan entered a period of sustained deflation. This was in part caused by a tremendous fall in asset prices, particularly land and stocks, but also by a long recession. Short-term interest rates were essentially zero after 2000. For example, the yield on 1 year bank deposits was 0.032 percent ...
Inflation First Pages
... 1990s, Japan entered a period of sustained deflation. This was in part caused by a tremendous fall in asset prices, particularly land and stocks, but also by a long recession. Short-term interest rates were essentially zero after 2000. For example, the yield on 1 year bank deposits was 0.032 percent ...
... 1990s, Japan entered a period of sustained deflation. This was in part caused by a tremendous fall in asset prices, particularly land and stocks, but also by a long recession. Short-term interest rates were essentially zero after 2000. For example, the yield on 1 year bank deposits was 0.032 percent ...
(TZS) versus the US Dollar (USD) and other major world currenc
... depreciation. The pursuant paragraphs document some of the contributions given by members of the business community interviewed by TPSF. Members of the business community said that being able to use both TZSs and USDs makes the TZS weaker. One of them said; “I don’t think anything in Tanzania shoul ...
... depreciation. The pursuant paragraphs document some of the contributions given by members of the business community interviewed by TPSF. Members of the business community said that being able to use both TZSs and USDs makes the TZS weaker. One of them said; “I don’t think anything in Tanzania shoul ...