Preview - American Economic Association
... 2 considers the nature of the current Long Depression and argues that it is the level and changes in business investment, not household consumption or residential investment as the central cause of depressions. Section 34 links the movements in business investment to the movements in the profitabili ...
... 2 considers the nature of the current Long Depression and argues that it is the level and changes in business investment, not household consumption or residential investment as the central cause of depressions. Section 34 links the movements in business investment to the movements in the profitabili ...
F585 Global Economy June 2010
... since the 1930s, and that Britain seemed to lag behind other advanced countries in terms of recovery from recession. You should be aware that examination papers (and stimulus material) are drafted some time in advance of the examination, (although this one was drafted not 18 months ahead of the exam ...
... since the 1930s, and that Britain seemed to lag behind other advanced countries in terms of recovery from recession. You should be aware that examination papers (and stimulus material) are drafted some time in advance of the examination, (although this one was drafted not 18 months ahead of the exam ...
AP review wk 5
... The Monetary Role of Banks • Roughly half of M1 consists of currency in circulation (i.e. $1 bills, $5 bills, and so on) • The rest of M1 (and the bulk of M2) consists of bank deposits – Checkable and debitable account balances in commercial banks and other types of financial ...
... The Monetary Role of Banks • Roughly half of M1 consists of currency in circulation (i.e. $1 bills, $5 bills, and so on) • The rest of M1 (and the bulk of M2) consists of bank deposits – Checkable and debitable account balances in commercial banks and other types of financial ...
Howard V. More v. Commissioner, 115 TC 125, Code Sec(s) 469
... In light of the restrictive nature of subdivision (ii)(C), we read it narrowly. We look closely at the language contained in the regulation and interpret it according to its ordinary and plain meaning. See FDIC v. Meyer, 510 U.S. 471, 476 (1994); Borregard v. National Transp. Safety Bd., 46 F.3d 944 ...
... In light of the restrictive nature of subdivision (ii)(C), we read it narrowly. We look closely at the language contained in the regulation and interpret it according to its ordinary and plain meaning. See FDIC v. Meyer, 510 U.S. 471, 476 (1994); Borregard v. National Transp. Safety Bd., 46 F.3d 944 ...
Disc #3: Ch 7 Answers
... Output: Your workday lasts from 9:00am-12:00pm in a sidewalk doughnut stand. During this time period, you produce 12 dozens of doughnuts. Each dozen sells for 50 baht. What is the value of your GDP as defined by total output? Ans: 50*12=600 baht. ...
... Output: Your workday lasts from 9:00am-12:00pm in a sidewalk doughnut stand. During this time period, you produce 12 dozens of doughnuts. Each dozen sells for 50 baht. What is the value of your GDP as defined by total output? Ans: 50*12=600 baht. ...
The Toy Industry 2010 Economic Impact Study Methodology and
... activities spend their wages. The ratio between induced economic and direct impact is termed the multiplier. The framework in the chart on the prior page illustrates these linkages. This method of analysis allows the impact of local production activities to be quantified in terms of final demand, ea ...
... activities spend their wages. The ratio between induced economic and direct impact is termed the multiplier. The framework in the chart on the prior page illustrates these linkages. This method of analysis allows the impact of local production activities to be quantified in terms of final demand, ea ...
Revisiting Latin America`s debt crisis: some lessons for
... onset of the debt crash. As is generally known, the major Latin American countries experienced a foreign debt crisis that erupted on 13 August 1982 and lasted for the rest of 1980s, thus producing the infamous ‘lost decade’. Orthodox views traced the origin of the debt crisis to some domestic factor ...
... onset of the debt crash. As is generally known, the major Latin American countries experienced a foreign debt crisis that erupted on 13 August 1982 and lasted for the rest of 1980s, thus producing the infamous ‘lost decade’. Orthodox views traced the origin of the debt crisis to some domestic factor ...
Capital Mobility, Monetization, and Money Demand
... real income to the speed of adjustment. The estimates of long-run real income elasticities reveal some evidence of economies of scale in cash management only for Niger; whereas money appears to be a luxury good in the remaining countries.10 ...
... real income to the speed of adjustment. The estimates of long-run real income elasticities reveal some evidence of economies of scale in cash management only for Niger; whereas money appears to be a luxury good in the remaining countries.10 ...
spd04 Posen 225566 en
... 3.5 percentage points of GDP. Given that the tax revenue/GDP ratio is related to cyclical developments, it is instructive to ask what would be the fiscal situation today if Japan had not experienced a prolonged economic downturn. It is important to note that the large fall in taxation revenue is no ...
... 3.5 percentage points of GDP. Given that the tax revenue/GDP ratio is related to cyclical developments, it is instructive to ask what would be the fiscal situation today if Japan had not experienced a prolonged economic downturn. It is important to note that the large fall in taxation revenue is no ...
Reforming the Fiscal Management System in Korea
... Most importantly, strict application of the principle enabled the Korean government to keep the size of government debt at a manageable level, and provided it with room for maneuver when the crisis hit the economy. Without too much worry about the rapid explosion of the budget deficit and public deb ...
... Most importantly, strict application of the principle enabled the Korean government to keep the size of government debt at a manageable level, and provided it with room for maneuver when the crisis hit the economy. Without too much worry about the rapid explosion of the budget deficit and public deb ...
The Fiscal and Monetary History of Colombia: 1963-2012 1 Introduction
... economic performance of Colombia during this period, measured as real per capita GDP, was worse than average among comparable Latin American economics. Additionally, Colombia did not catch up to its peers either (see Figure 3). The roots of relative stagnation in Colombia amidst a stable macroeconom ...
... economic performance of Colombia during this period, measured as real per capita GDP, was worse than average among comparable Latin American economics. Additionally, Colombia did not catch up to its peers either (see Figure 3). The roots of relative stagnation in Colombia amidst a stable macroeconom ...
Aggregate demand and aggregate supply
... price level falls, real wealth rises, interest rates fall, and the exchange rate depreciates. These effects stimulate spending on consumption, investment, and net exports. Increased spending on any or all of these components of output means a larger quantity of goods and services demanded. ...
... price level falls, real wealth rises, interest rates fall, and the exchange rate depreciates. These effects stimulate spending on consumption, investment, and net exports. Increased spending on any or all of these components of output means a larger quantity of goods and services demanded. ...
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... average. This reduction from an average growth rate of 5.1 percent in 2004 is mainly attributable to Poland, where especially private consumption grew only moderately. With the exception of Hungary and the Slovak Republic, investment levelled off. Lower domestic demand increases had its impact on im ...
... average. This reduction from an average growth rate of 5.1 percent in 2004 is mainly attributable to Poland, where especially private consumption grew only moderately. With the exception of Hungary and the Slovak Republic, investment levelled off. Lower domestic demand increases had its impact on im ...
At a Glance – Outlook and key Brazil themes for 2014
... We think Brazil’s overall balance-of-payments position is better than the ‘Fragile Five’ and less vulnerable to turns in market sentiment. ...
... We think Brazil’s overall balance-of-payments position is better than the ‘Fragile Five’ and less vulnerable to turns in market sentiment. ...
Ch 7 Notes
... located within a country. 2. GDP can be measured as a country’s total product = total income = total expenditure. - Example: The value of total product of Thailand was 9,471 billion baht (in 2015). - Example: The value of total income of Thailand was 9,471 billion baht (in 2015). - Example: The valu ...
... located within a country. 2. GDP can be measured as a country’s total product = total income = total expenditure. - Example: The value of total product of Thailand was 9,471 billion baht (in 2015). - Example: The value of total income of Thailand was 9,471 billion baht (in 2015). - Example: The valu ...
Ever since Benjamin Franklin wrote
... The general query “Are Americans saving enough?” is probably not answerable. For years, many of our policy commentators warned us that frugal Japan would someday overtake the United States as the world’s premier economic power. That warning came before Japan’s economy sank, its large banks failed, a ...
... The general query “Are Americans saving enough?” is probably not answerable. For years, many of our policy commentators warned us that frugal Japan would someday overtake the United States as the world’s premier economic power. That warning came before Japan’s economy sank, its large banks failed, a ...
increase
... any fiscal measure takes substantial amounts of time. This makes fiscal policy more effective in the long term than in the short term. 2. The government can spend only what it earns through taxes, or its budget will not balance. Sometimes, situation calls for strong expansionary measures (increasing ...
... any fiscal measure takes substantial amounts of time. This makes fiscal policy more effective in the long term than in the short term. 2. The government can spend only what it earns through taxes, or its budget will not balance. Sometimes, situation calls for strong expansionary measures (increasing ...
Document
... area in coming months. Confidence data have fallen almost uninterruptedly since May 2007 and are now well below their long-term averages. In December, the Commission's Economic Sentiment Indicator declined to its lowest level in both the EU and the euro area since the current series was launched in ...
... area in coming months. Confidence data have fallen almost uninterruptedly since May 2007 and are now well below their long-term averages. In December, the Commission's Economic Sentiment Indicator declined to its lowest level in both the EU and the euro area since the current series was launched in ...
Guillermo Calvo LOOKING AT FINANCIAL CRISES IN THE EYE Some Basic Observations
... and the Kahn-Keynes multiplier may apply with great force.2 Thus, the multiplier’s relevance hinges more on financial disruption than the questionable consumption’s psychological norms emphasized in the General Theory. This conclusion may sound a bit hasty given the abundant evidence that income sho ...
... and the Kahn-Keynes multiplier may apply with great force.2 Thus, the multiplier’s relevance hinges more on financial disruption than the questionable consumption’s psychological norms emphasized in the General Theory. This conclusion may sound a bit hasty given the abundant evidence that income sho ...
2003
... | <Date> | Entire contents © 2003 Gartner, Inc. All rights reserved.
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<img class="thumbnail" alt="Stabilizing chaos in a dynamic macroeconomic model"
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<a href="/doc/17021439/stabilizing-chaos-in-a-dynamic-macroeconomic-model">Stabilizing chaos in a dynamic macroeconomic model</a>
<br><br>
... such a trade-off between regularity and efficiency. Its short-run structure is related to
Neo-Keynesian models developed by Benassy (1975) and Malinvaud (1977) who built on
the seminal work of Clower (1965). Models of this kind describe the emergence of
different disequilibrium
regimes due to ration ...
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<h1>Fiscal multiplier</h1>
In economics, the fiscal multiplier (not to be confused with monetary multiplier) is the ratio of a change in national income to the change in government spending that causes it. More generally, the exogenous spending multiplier is the ratio of a change in national income to any autonomous change in spending (private investment spending, consumer spending, government spending, or spending by foreigners on the country's exports) that causes it. When this multiplier exceeds one, the enhanced effect on national income is called the multiplier effect. The mechanism that can give rise to a multiplier effect is that an initial incremental amount of spending can lead to increased consumption spending, increasing income further and hence further increasing consumption, etc., resulting in an overall increase in national income greater than the initial incremental amount of spending. In other words, an initial change in aggregate demand may cause a change in aggregate output (and hence the aggregate income that it generates) that is a multiple of the initial change.The existence of a multiplier effect was initially proposed by Keynes student Richard Kahn in 1930 and published in 1931. Some other schools of economic thought reject or downplay the importance of multiplier effects, particularly in terms of the long run. The multiplier effect has been used as an argument for the efficacy of government spending or taxation relief to stimulate aggregate demand.In certain cases multiplier values less than one have been empirically measured (an example is sports stadiums), suggesting that certain types of government spending crowd out private investment or consumer spending that would have otherwise taken place. This crowding out can occur because the initial increase in spending may cause an increase in interest rates or in the price level. In 2009, The Economist magazine noted ""economists are in fact deeply divided about how well, or indeed whether, such stimulus works"", partly because of a lack of empirical data from non-military based stimulus. New evidence came from the American Recovery and Reinvestment Act of 2009, whose benefits were projected based on fiscal multipliers and which was in fact followed - from 2010 to 2012 - by a slowing of job loss and private sector job growth.
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