The Conceptual Evolution of Inflation Inertia in Brazil
... the latter’s modeling strategies and conclusions, we show that, along the 1980s, these economists gradually shift towards a more ecumenical approach, inviting monetarist elements into their analyses while downplaying the relevance of the inertial component. Finally, when the 1990s came, the rise of ...
... the latter’s modeling strategies and conclusions, we show that, along the 1980s, these economists gradually shift towards a more ecumenical approach, inviting monetarist elements into their analyses while downplaying the relevance of the inertial component. Finally, when the 1990s came, the rise of ...
AD and AS test bank vers 2
... MSC: Interpretive 23. In the last half of 1999, the U.S. unemployment rate was about 4 percent. Historical experience suggests that this is a. above the natural rate, so that real GDP growth was likely low. b. above the natural rate, so that real GDP growth was likely high. c. below the natural rate ...
... MSC: Interpretive 23. In the last half of 1999, the U.S. unemployment rate was about 4 percent. Historical experience suggests that this is a. above the natural rate, so that real GDP growth was likely low. b. above the natural rate, so that real GDP growth was likely high. c. below the natural rate ...
FOCUS - Piazza
... of Technology. He did his undergraduate work in France and received a Ph.D. in economics from MIT in 1977. He taught at Harvard from 1977 to 1982 and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics. He is currently on leave from MIT ...
... of Technology. He did his undergraduate work in France and received a Ph.D. in economics from MIT in 1977. He taught at Harvard from 1977 to 1982 and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics. He is currently on leave from MIT ...
The relevance of the value-relevance literature for financial
... standard setters do not pursue that objective and (ii) why pursuit of that objective is relevant and feasible. In our evaluation we address some econometric issues that arise in value-relevance studies. We do it during our evaluation of the underlying theories rather than highlight the issues separa ...
... standard setters do not pursue that objective and (ii) why pursuit of that objective is relevant and feasible. In our evaluation we address some econometric issues that arise in value-relevance studies. We do it during our evaluation of the underlying theories rather than highlight the issues separa ...
Chapter 7--Unemployment and Inflation
... 26. Which of the following people would be counted among the unemployed? a. a new college graduate selling newspaper advertising part-time while looking for other work b. a new college graduate selling newspaper advertising full-time while looking for other work c. a new college graduate selling new ...
... 26. Which of the following people would be counted among the unemployed? a. a new college graduate selling newspaper advertising part-time while looking for other work b. a new college graduate selling newspaper advertising full-time while looking for other work c. a new college graduate selling new ...
Chapter 8—Unemployment and Inflation
... 25. Which of the following people would be counted among the unemployed? a. a new college graduate selling newspaper advertising part-time while looking for other work b. a new college graduate selling newspaper advertising full-time while looking for other work c. a new college graduate selling new ...
... 25. Which of the following people would be counted among the unemployed? a. a new college graduate selling newspaper advertising part-time while looking for other work b. a new college graduate selling newspaper advertising full-time while looking for other work c. a new college graduate selling new ...
(IS) Y
... [email protected] Web: http://sites.google.com/site/huynhvanthinhsite http://sites.google.com/site/economicsfamily HUỲNH VĂN THỊNH [email protected] ...
... [email protected] Web: http://sites.google.com/site/huynhvanthinhsite http://sites.google.com/site/economicsfamily HUỲNH VĂN THỊNH [email protected] ...
DoD Inflation Handbook
... As a result the Office of the Secretary of Defense (Program Analysis and Evaluation) decided to contract for this book. The intent was to provide a relatively comprehensive treatment of the topic of inflation with a focus on common applications and the user/analyst. For those dealing with DoD budget ...
... As a result the Office of the Secretary of Defense (Program Analysis and Evaluation) decided to contract for this book. The intent was to provide a relatively comprehensive treatment of the topic of inflation with a focus on common applications and the user/analyst. For those dealing with DoD budget ...
Sample Chapter 28
... model is that it does not explain the behavior of inflation. Indeed, the model represents a special case in which prices are constant and inflation is zero. Although firms may meet demand at preset prices for a time, as assumed in the basic Keynesian model, prices do not remain fixed indefinitely. I ...
... model is that it does not explain the behavior of inflation. Indeed, the model represents a special case in which prices are constant and inflation is zero. Although firms may meet demand at preset prices for a time, as assumed in the basic Keynesian model, prices do not remain fixed indefinitely. I ...
612_abel-andrew-b-bernanke-ben-s-macroeconomics
... growth rate of labor force price of capital goods expected real interest rate world real interest rate expected after-tax real interest rate reserve-deposit ratio individual saving; saving rate inCOlne tax rate ...
... growth rate of labor force price of capital goods expected real interest rate world real interest rate expected after-tax real interest rate reserve-deposit ratio individual saving; saving rate inCOlne tax rate ...
NBER WORKING PAPER SERIES AN ALTERNATIVE INTERPRETATION
... Fed’s response to inflation and its response to the output gap, output growth, price-level gap, and the degree of interest smoothing, and 3) the model of the economy. We revisit the issue of possible changes in monetary policy over the last forty years, as well as the implications for economic stab ...
... Fed’s response to inflation and its response to the output gap, output growth, price-level gap, and the degree of interest smoothing, and 3) the model of the economy. We revisit the issue of possible changes in monetary policy over the last forty years, as well as the implications for economic stab ...
N - Piazza
... The 11th edition of Macroeconomics is published 31 years after the first. We have been both amazed and flattered by the response our book has received over those years. Besides its use in the classrooms of many U.S. universities, it has been translated into many languages and used in many countries, ...
... The 11th edition of Macroeconomics is published 31 years after the first. We have been both amazed and flattered by the response our book has received over those years. Besides its use in the classrooms of many U.S. universities, it has been translated into many languages and used in many countries, ...
Core inflation: a critical guide
... interpret, particularly when they display different trends. This paper sets out how the concept of core inflation might be useful to monetary policy makers and provides a conceptual and empirical evaluation of various measures of core inflation in the United Kingdom. Month-to-month movements in infl ...
... interpret, particularly when they display different trends. This paper sets out how the concept of core inflation might be useful to monetary policy makers and provides a conceptual and empirical evaluation of various measures of core inflation in the United Kingdom. Month-to-month movements in infl ...
Monetary Policy, Imperfect Information and the Expectations Channel
... a role at the aggregate level. Second, monetary variations do not become common knowledge in the period following the shock, what magnifies the effect of higher-order expectations. Indeed, under imperfect common knowledge, higher-order expectations will be slower to adjust and create uncertainty tha ...
... a role at the aggregate level. Second, monetary variations do not become common knowledge in the period following the shock, what magnifies the effect of higher-order expectations. Indeed, under imperfect common knowledge, higher-order expectations will be slower to adjust and create uncertainty tha ...
Core Inflation: Concepts, Uses and Measurement
... First, as Keynes notes “[c]hanges in relative prices may, of course, affect partial indexnumbers which represent price changes in particular classes of things, e.g. the index of the cost of living of the working classes.”12 Since all price indices produced by statistical agencies can be regarded as ...
... First, as Keynes notes “[c]hanges in relative prices may, of course, affect partial indexnumbers which represent price changes in particular classes of things, e.g. the index of the cost of living of the working classes.”12 Since all price indices produced by statistical agencies can be regarded as ...
Inflation Inertia in Egypt and its Policy Implications
... Low inflation is a key for macroeconomic stability as evidenced by many country experiences, since high inflation in general hurt macroeconomic stability mainly through lower domestic savings by deeply negative real interest rates, lower capital accumulation due to increased uncertainty, and real ap ...
... Low inflation is a key for macroeconomic stability as evidenced by many country experiences, since high inflation in general hurt macroeconomic stability mainly through lower domestic savings by deeply negative real interest rates, lower capital accumulation due to increased uncertainty, and real ap ...
Chapter 1: Introduction
... Or can use Okun’s law to write down yet a third form for short-run aggregate supply. Real GDP relative to potential output is proportional to the difference between the unemployment rate and the natural rate of unemployment. Substitute the unemployment rate in on the left-hand side oft the equation ...
... Or can use Okun’s law to write down yet a third form for short-run aggregate supply. Real GDP relative to potential output is proportional to the difference between the unemployment rate and the natural rate of unemployment. Substitute the unemployment rate in on the left-hand side oft the equation ...
How Friedman and Schwartz became monetarists
... volume of money and money substitutes in the hands of the public” and the second, “the great volume of unused lending power in the hands of the banks”. (Friedman, Hart and Jacoby, 1946). In further contrast to his 1942 congressional testimony, Friedman argued against price controls, including rent c ...
... volume of money and money substitutes in the hands of the public” and the second, “the great volume of unused lending power in the hands of the banks”. (Friedman, Hart and Jacoby, 1946). In further contrast to his 1942 congressional testimony, Friedman argued against price controls, including rent c ...
Inflation Scares and Forecast-Based Monetary Policy
... the structure of the model, its time invariance, or simply the values of the model parameters? Once imperfect knowledge is acknowledged, the tight mechanical link from economic outcomes to the expectations formation process breaks down. As stressed by Friedman (1979) and Sargent (1993), the explicit ...
... the structure of the model, its time invariance, or simply the values of the model parameters? Once imperfect knowledge is acknowledged, the tight mechanical link from economic outcomes to the expectations formation process breaks down. As stressed by Friedman (1979) and Sargent (1993), the explicit ...
Inflation Dynamics in Sri Lanka: An Empirical Analysis
... was opened to the rest of the world by removing trade barriers and exchange controls. With the removal of import and exchange controls, imports began to gain greater significance in affecting prices (Cooray, 2008). Further, after liberalisation, there was a rapid increase in public investment. This ...
... was opened to the rest of the world by removing trade barriers and exchange controls. With the removal of import and exchange controls, imports began to gain greater significance in affecting prices (Cooray, 2008). Further, after liberalisation, there was a rapid increase in public investment. This ...
Budget deficits and inflation feedback
... European hyperinflations (Germany, 1922-23; Austria, 1921-22; Hungary, 1923-24; among others)2 and more recent hyperinflations experienced by chronic high-inflation countries (Argentina, 198990; Brazil, 1989-90; Bolivia, 1984-85; Congo (Dem.Rep.) 1991-92, 1993-94; Nicaragua, 1986-91; Zimbabwe, 2006- ...
... European hyperinflations (Germany, 1922-23; Austria, 1921-22; Hungary, 1923-24; among others)2 and more recent hyperinflations experienced by chronic high-inflation countries (Argentina, 198990; Brazil, 1989-90; Bolivia, 1984-85; Congo (Dem.Rep.) 1991-92, 1993-94; Nicaragua, 1986-91; Zimbabwe, 2006- ...