an investigation of the relationship between inflation rates in kenya
... Inflation in Kenya has been unstable especially during the period of study. Increased inflation is associated with high cost of living thereby reducing amount available for investment. The government aims to maintain a constant rate of inflation characterized by a single digit. The aim has been to m ...
... Inflation in Kenya has been unstable especially during the period of study. Increased inflation is associated with high cost of living thereby reducing amount available for investment. The government aims to maintain a constant rate of inflation characterized by a single digit. The aim has been to m ...
MacroPolicy - Purdue Agriculture
... Usually we don’t put numbers on our demand and supply diagrams, but draw them like Figure 12 instead. We can always point to the intersection of the demand and supply curves, though, and call it the equilibrium point. That’s where the quantity demanded equals the quantity supplied, and the point whe ...
... Usually we don’t put numbers on our demand and supply diagrams, but draw them like Figure 12 instead. We can always point to the intersection of the demand and supply curves, though, and call it the equilibrium point. That’s where the quantity demanded equals the quantity supplied, and the point whe ...
Financial Markets
... pattern in interest rates that would allow you to time your sale of securities to get the lowest possible yield. You must choose a period of time over which to estimate your model of interest rates. I recommend that you use as much data as possible. But, let us say that you are only going to use dat ...
... pattern in interest rates that would allow you to time your sale of securities to get the lowest possible yield. You must choose a period of time over which to estimate your model of interest rates. I recommend that you use as much data as possible. But, let us say that you are only going to use dat ...
NBER WORKING PAPER SERIES RATIONAL INFLATIONARY BUBBLES Herschel i. Grossman
... of fiat money (in units of the consumption good) grows without bound at this increasing proportionate rate. Accordingly, if, as discussed above, in the empirically relevant environment agents cannot rationally expect the value of a unit of fiat money to grow at such a rapid pace, then rational defla ...
... of fiat money (in units of the consumption good) grows without bound at this increasing proportionate rate. Accordingly, if, as discussed above, in the empirically relevant environment agents cannot rationally expect the value of a unit of fiat money to grow at such a rapid pace, then rational defla ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... The other important source of change was the development of bank credit to the public (total credit of the commercial banking system other than to the government). As may be seen from column 6, the rate of expansion of credit tothe public declined from a level of about 40 per cent per year during 19 ...
... The other important source of change was the development of bank credit to the public (total credit of the commercial banking system other than to the government). As may be seen from column 6, the rate of expansion of credit tothe public declined from a level of about 40 per cent per year during 19 ...
The Impact of Treasury Supply on Financial Sector Lending and
... the representative bank faces a constraint on deposit issuance: D ≤ λK K + θ F ...
... the representative bank faces a constraint on deposit issuance: D ≤ λK K + θ F ...
12INFLATION*
... causes people to use resources (e.g., shoe leather) in order to spend their money more rapidly (by shopping more frequently). At still higher anticipated inflation rates, people incur costs by using alternatives for money to conduct transactions. ♦ Tax consequences — anticipated inflation reduces th ...
... causes people to use resources (e.g., shoe leather) in order to spend their money more rapidly (by shopping more frequently). At still higher anticipated inflation rates, people incur costs by using alternatives for money to conduct transactions. ♦ Tax consequences — anticipated inflation reduces th ...
Inflation: Causes and Consequences
... expectations of the price level from P0 to P1. (Recall that anticipated changes in the money supply lead households and businesses to expect a higher price level.) The SRAS curve shifts upward from SRAS0 to SRAS1 (quickly, in the new classical approach), and the economy’s equilibrium shifts from E0 ...
... expectations of the price level from P0 to P1. (Recall that anticipated changes in the money supply lead households and businesses to expect a higher price level.) The SRAS curve shifts upward from SRAS0 to SRAS1 (quickly, in the new classical approach), and the economy’s equilibrium shifts from E0 ...
DRAFT September 8, 2010
... The current account balance is the sum of the trade balance, remittance inflows, and the interest payments/receipts associated with the country’s international investment position. The latter is the product of the nominal interest rate on external debt/assets (given by the rate of time preference pl ...
... The current account balance is the sum of the trade balance, remittance inflows, and the interest payments/receipts associated with the country’s international investment position. The latter is the product of the nominal interest rate on external debt/assets (given by the rate of time preference pl ...
Chap 23
... don’t yet have the background to appreciate all the details that go into the aggregate demand and aggregate supply curves. But they are able to grasp the basic purpose of the model. Your goal at this point in the course is to help them understand the components of the model intuitively and to put th ...
... don’t yet have the background to appreciate all the details that go into the aggregate demand and aggregate supply curves. But they are able to grasp the basic purpose of the model. Your goal at this point in the course is to help them understand the components of the model intuitively and to put th ...
Chapter 29(14)
... money wage rate (and other resource prices) rising to reflect the higher price level. So, in the AD/AS model, the rise in the money wage rate shifts the SAS curve leftward. Real GDP returns to the vertical LAS curve and equals potential GDP. In terms of the Phillips curve, the unemployment rate cann ...
... money wage rate (and other resource prices) rising to reflect the higher price level. So, in the AD/AS model, the rise in the money wage rate shifts the SAS curve leftward. Real GDP returns to the vertical LAS curve and equals potential GDP. In terms of the Phillips curve, the unemployment rate cann ...
The Close Connection Between Nominal
... any pT choice that depends only on currently available information. The speci…c implementation of nominal-GDP targeting analyzed in this paper is mathematically equivalent to setting nT = (p+Ey ) + T , where E(yT y )=T + . In words: To obtain future target nominal GDP, extrapolate current nominal po ...
... any pT choice that depends only on currently available information. The speci…c implementation of nominal-GDP targeting analyzed in this paper is mathematically equivalent to setting nT = (p+Ey ) + T , where E(yT y )=T + . In words: To obtain future target nominal GDP, extrapolate current nominal po ...
PRIVATE CAPITAL FLOWS AND THE REAL EXCHANGE RATE IN
... Ghana, and Kasekende and Atingi-Ego (1999) in Uganda find that aid inflows are associated with the appreciation of the real exchange rate. However, other case studies do not conclude to a real appreciation of the exchange rate associated with public flows [Bandara (1995) in Sri Lanka; Nyoni (1998) a ...
... Ghana, and Kasekende and Atingi-Ego (1999) in Uganda find that aid inflows are associated with the appreciation of the real exchange rate. However, other case studies do not conclude to a real appreciation of the exchange rate associated with public flows [Bandara (1995) in Sri Lanka; Nyoni (1998) a ...
APMacroPracFIN
... ____ 45. The actual change in the money supply as a result of an increase in excess reserves will be less than the maximum change if banks a. do not lend out all of their excess reserves. b. borrow from the Federal Reserve. c. sell some of their government securities to the Federal Reserve. d. lend ...
... ____ 45. The actual change in the money supply as a result of an increase in excess reserves will be less than the maximum change if banks a. do not lend out all of their excess reserves. b. borrow from the Federal Reserve. c. sell some of their government securities to the Federal Reserve. d. lend ...
Quantitative Easing in a Small Open Economy: An International
... by the small open economy. The strong co-movement between domestic and foreign term premia is also consistent with the evidence presented in literature. The left panel in Figure 2 shows term premium estimates over time for several small open economies, obtained from Wright (2011). For comparison, th ...
... by the small open economy. The strong co-movement between domestic and foreign term premia is also consistent with the evidence presented in literature. The left panel in Figure 2 shows term premium estimates over time for several small open economies, obtained from Wright (2011). For comparison, th ...
What Explains Inflation in China?
... in the general price level is termed inflation and a decrease deflation. Inflation and deflation distort price signals, leading to inefficient allocation of resources; they also undermine the credibility of the central bank, making it difficult to conduct macroeconomic management. Therefore, major a ...
... in the general price level is termed inflation and a decrease deflation. Inflation and deflation distort price signals, leading to inefficient allocation of resources; they also undermine the credibility of the central bank, making it difficult to conduct macroeconomic management. Therefore, major a ...
24.3 Implementing Monetary Policy: Tools of the Fed
... network environment that prevents downloading or reproducing the copyrighted material. Otherwise, no part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including, but not limited to, photocopying, recording, tap ...
... network environment that prevents downloading or reproducing the copyrighted material. Otherwise, no part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including, but not limited to, photocopying, recording, tap ...
Good
... markets and call it aggregate output (GDP). All these goods have their own prices. From prices of all these goods we make an average price, called the price level (or index). Thus the price level or index includes many prices of goods and services the country produces and consumes. The use of aggreg ...
... markets and call it aggregate output (GDP). All these goods have their own prices. From prices of all these goods we make an average price, called the price level (or index). Thus the price level or index includes many prices of goods and services the country produces and consumes. The use of aggreg ...
Banamex affiliated-party EOs
... money penalty to the Treasury of the United States. It is further ordered that Respondent is prohibited from seeking or accepting indemnification from any insured depository institution for the civil money penalty assessed and paid in this matter. Nothing herein shall preclude any proceedings broug ...
... money penalty to the Treasury of the United States. It is further ordered that Respondent is prohibited from seeking or accepting indemnification from any insured depository institution for the civil money penalty assessed and paid in this matter. Nothing herein shall preclude any proceedings broug ...