Research Department Working Paper No:05/07
... as budget deficits and the credit expansion continued to grow even after the announcement of the stabilization programs. Monetary disequilibrium models are useful to explain interactions in these economies where the major source of disturbances is the disequilibrium in the money market. With these ...
... as budget deficits and the credit expansion continued to grow even after the announcement of the stabilization programs. Monetary disequilibrium models are useful to explain interactions in these economies where the major source of disturbances is the disequilibrium in the money market. With these ...
Introduction to Economic Fluctuations
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
Mankiw 6e PowerPoints
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
... Short run: Many prices are “sticky” at some predetermined level. The economy behaves much differently when prices are sticky. CHAPTER 9 ...
Rethinking Inequality - Economic Society of Singapore
... set of instructions that machines can easily follow (and which can consequently be mechanized). This helps to explain middle-class wage stagnation. Spread of “winner-takes-all” markets in which small differences translates into very large differences in reward. In such markets, “top performers are ...
... set of instructions that machines can easily follow (and which can consequently be mechanized). This helps to explain middle-class wage stagnation. Spread of “winner-takes-all” markets in which small differences translates into very large differences in reward. In such markets, “top performers are ...
Workshop on National Accounts 6
... • Separate estimates of expenditure components except change in stocks • Change in stock: residually estimated • No explicit statistical discrepancy • Attempt to produce GDP by income ...
... • Separate estimates of expenditure components except change in stocks • Change in stock: residually estimated • No explicit statistical discrepancy • Attempt to produce GDP by income ...
Keynesian vs. monetarist/new classical view
... syllabus heading and the curves in Figure 3.3.3 - Keynesian aggregate supply above? Have a quick look and ponder before you read on. Did you see it? The heading reads ‘long run aggregate supply’ but the curve in the diagram is labelled ‘aggregate supply’. This is completely in line with Keynesian r ...
... syllabus heading and the curves in Figure 3.3.3 - Keynesian aggregate supply above? Have a quick look and ponder before you read on. Did you see it? The heading reads ‘long run aggregate supply’ but the curve in the diagram is labelled ‘aggregate supply’. This is completely in line with Keynesian r ...
Haider
... The hypotheses of “tax then spend”, “spend then tax” and “tax or spend and spend or tax” are all supported by the economic studies regarding different economies. Thus we can classify these studies with respect to the first, second and third hypothesis. Furthermore, a careful examination of these stu ...
... The hypotheses of “tax then spend”, “spend then tax” and “tax or spend and spend or tax” are all supported by the economic studies regarding different economies. Thus we can classify these studies with respect to the first, second and third hypothesis. Furthermore, a careful examination of these stu ...
The National Debt
... Furthermore, if would-be creditors not have the pleasure of spending the federal government had to bal- — such as foreign central banks — (getting votes) without the pain of taxance the budget, that would damp- begin to worry the United States will ing (losing votes),” wrote public-finance en the ec ...
... Furthermore, if would-be creditors not have the pleasure of spending the federal government had to bal- — such as foreign central banks — (getting votes) without the pain of taxance the budget, that would damp- begin to worry the United States will ing (losing votes),” wrote public-finance en the ec ...
1 - EcoMod
... enacted into law this year or next, the phasing in slowly of the law will likely encourage consumption as households will rush to buy goods and services. This higher spending by consumers will boost aggregate demand which will help boost increased production and economic activities and thus improve ...
... enacted into law this year or next, the phasing in slowly of the law will likely encourage consumption as households will rush to buy goods and services. This higher spending by consumers will boost aggregate demand which will help boost increased production and economic activities and thus improve ...
Cyclical fiscal policy in developing countries: the case of Africa
... Giavazzi et al. 2000). In this type of models, a fiscal expansion is contractionary because it reduces household’s private consumption. The transmission mechanism may work through the expectation that taxes will increase in the future and/or via the wealth effect associated with the upward adjustmen ...
... Giavazzi et al. 2000). In this type of models, a fiscal expansion is contractionary because it reduces household’s private consumption. The transmission mechanism may work through the expectation that taxes will increase in the future and/or via the wealth effect associated with the upward adjustmen ...
United States then, Europe now
... governments, like states in the U.S. or nations in the European Union, cannot be relied on voluntarily to provide revenue to the central government to pay for public goods. Each state has an incentive to refuse, hoping that other states will accept the burden. 3. Good reputations can be costly to ac ...
... governments, like states in the U.S. or nations in the European Union, cannot be relied on voluntarily to provide revenue to the central government to pay for public goods. Each state has an incentive to refuse, hoping that other states will accept the burden. 3. Good reputations can be costly to ac ...
United States then, Europe now
... governments, like states in the U.S. or nations in the European Union, cannot be relied on voluntarily to provide revenue to the central government to pay for public goods. Each state has an incentive to refuse, hoping that other states will accept the burden. 3. Good reputations can be costly to ac ...
... governments, like states in the U.S. or nations in the European Union, cannot be relied on voluntarily to provide revenue to the central government to pay for public goods. Each state has an incentive to refuse, hoping that other states will accept the burden. 3. Good reputations can be costly to ac ...
Fiscal policy in an oil economy
... should be simple and easy to communicate, like all other fiscal policy rules. The objectives outlined above must be met even when uncertainty prevails. 10. Several factors indicate that the spending of Norway’s petroleum revenues should be increased more gradually in the years ahead than in the peri ...
... should be simple and easy to communicate, like all other fiscal policy rules. The objectives outlined above must be met even when uncertainty prevails. 10. Several factors indicate that the spending of Norway’s petroleum revenues should be increased more gradually in the years ahead than in the peri ...
Gross Domestic Product (GDP)
... owners, including wages, rents, interest, and profits Personal Income (PI) is the total income received by households that is available for consumption, saving, and payment of personal taxes Disposable Personal Income (DI) is the amount of income that households have to spend or save after payment o ...
... owners, including wages, rents, interest, and profits Personal Income (PI) is the total income received by households that is available for consumption, saving, and payment of personal taxes Disposable Personal Income (DI) is the amount of income that households have to spend or save after payment o ...
On the construction and first empirical application of the new
... Production technology of the sectors in ENESS is represented using a Constant Elasticity of Substitution (CES) function. Substitution possibilities at each of the nests are captured by the corresponding elasticity of substitution parameter. The higher the values of this parameter the easier it is to ...
... Production technology of the sectors in ENESS is represented using a Constant Elasticity of Substitution (CES) function. Substitution possibilities at each of the nests are captured by the corresponding elasticity of substitution parameter. The higher the values of this parameter the easier it is to ...
Statistical Appendix
... the 1993 version of the System of National Accounts (SNA). The IMF’s sector statistical standards—the Balance of Payments Manual, Fifth Edition (BPM5), the Monetary and Financial Statistics Manual (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with t ...
... the 1993 version of the System of National Accounts (SNA). The IMF’s sector statistical standards—the Balance of Payments Manual, Fifth Edition (BPM5), the Monetary and Financial Statistics Manual (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with t ...
CHAPTER OVERVIEW
... This value is not included in GDP because such sales and purchases simply transfer the ownership of existing assets; such sales and purchases are not themselves (economic) investment and thus should not be counted as production of final goods and services. Used furniture was produced in some previou ...
... This value is not included in GDP because such sales and purchases simply transfer the ownership of existing assets; such sales and purchases are not themselves (economic) investment and thus should not be counted as production of final goods and services. Used furniture was produced in some previou ...
Module 32 Money, Output, and Prices in the Long Run
... Short-Run and Long-Run Effects of an Increase in the Money Supply To analyze the long-run effects of monetary policy, it’s helpful to think of the central bank as choosing a target for the money supply rather than for the interest rate. In assessing the effects of an increase in the money supply, w ...
... Short-Run and Long-Run Effects of an Increase in the Money Supply To analyze the long-run effects of monetary policy, it’s helpful to think of the central bank as choosing a target for the money supply rather than for the interest rate. In assessing the effects of an increase in the money supply, w ...
The principle of effective demand – Marx, Kalecki
... For Marx, a second argument against Say’s law derives from the function of money as a means of payment (Marx 1861-63, p. 511). Money functions as a means of payment when the sale of a commodity and the realisation of its price are separated. The seller becomes a creditor, the buyer a debtor, and mon ...
... For Marx, a second argument against Say’s law derives from the function of money as a means of payment (Marx 1861-63, p. 511). Money functions as a means of payment when the sale of a commodity and the realisation of its price are separated. The seller becomes a creditor, the buyer a debtor, and mon ...
Government Budget Deficits and the Development of the Bond
... compounded by a fragmented cash management and budgetary system that does not generate reliable cash forecasts and effective control. The overall deficits and financing sources are summarized in Table 1. Persistent budgetary deficits have pushed the total debt and liability stock to 69.5 percent of ...
... compounded by a fragmented cash management and budgetary system that does not generate reliable cash forecasts and effective control. The overall deficits and financing sources are summarized in Table 1. Persistent budgetary deficits have pushed the total debt and liability stock to 69.5 percent of ...
Public Policy Brief 71 - Levy Economics Institute of Bard College
... portfolios decline in value. This reduction in net wealth has an impact on people’s purchases of consumer goods. The interest rate channel and the monetarist channel can be taken together. The interest rate channel works because consumers and business people are likely to make more purchases when th ...
... portfolios decline in value. This reduction in net wealth has an impact on people’s purchases of consumer goods. The interest rate channel and the monetarist channel can be taken together. The interest rate channel works because consumers and business people are likely to make more purchases when th ...
