Size, Trend, and Policy Implications of the Underground Economy Renzo Orsi
... underground economy is negatively correlated with the cyclical component of the official output, thus providing evidence of a double business cycle in the Italian economy. The estimated model is then used to assess the implications of alternative fiscal policies. We find that at the actual tax rates ...
... underground economy is negatively correlated with the cyclical component of the official output, thus providing evidence of a double business cycle in the Italian economy. The estimated model is then used to assess the implications of alternative fiscal policies. We find that at the actual tax rates ...
NCEA Level 2 Economics (91224) 2013 Assessment Schedule
... (i) Explanation in detail that farmers may suffer due to increased costs of production, which will reduce profits and hence they may have to cut back on production or lay off workers, AND/OR explanation in detail that farmers may benefit, as New Zealand’s improved international reputation may result ...
... (i) Explanation in detail that farmers may suffer due to increased costs of production, which will reduce profits and hence they may have to cut back on production or lay off workers, AND/OR explanation in detail that farmers may benefit, as New Zealand’s improved international reputation may result ...
Lecture 5
... It is the value of the final goods and services produced in a given year expressed in the prices of that same year. A more precise name for GDP that is measured in the current prices we pay for final goods and services. When a variable is measured in current prices, it is described in nominal ...
... It is the value of the final goods and services produced in a given year expressed in the prices of that same year. A more precise name for GDP that is measured in the current prices we pay for final goods and services. When a variable is measured in current prices, it is described in nominal ...
Dossierbijdrage
... marked out economic growth, sustainability and solidarity as the key concepts in its Coalition Agreement for the period up to 2011 and identified six priority areas for public policy: (1) an active and constructive role for the Netherlands in Europe and in the world, (2) progress towards an innovati ...
... marked out economic growth, sustainability and solidarity as the key concepts in its Coalition Agreement for the period up to 2011 and identified six priority areas for public policy: (1) an active and constructive role for the Netherlands in Europe and in the world, (2) progress towards an innovati ...
Using Natural Resources for Development: Why Has It Proven So
... “[T]he real problem is not that growth . . . has been slow when it should have been normal, but that it has been normal when it should have been faster than normal.” Fourth, resource revenues can be highly volatile. Some variability is predictable—due to opening of new deposits of natural resources ...
... “[T]he real problem is not that growth . . . has been slow when it should have been normal, but that it has been normal when it should have been faster than normal.” Fourth, resource revenues can be highly volatile. Some variability is predictable—due to opening of new deposits of natural resources ...
+ = GDP
... is probably biased upward because more output now takes place in the market sector and less in the household sector. However, it is also probably biased downward because of failure to adjust for increased leisure, improvements in the work environment, and the introduction of improved products and ne ...
... is probably biased upward because more output now takes place in the market sector and less in the household sector. However, it is also probably biased downward because of failure to adjust for increased leisure, improvements in the work environment, and the introduction of improved products and ne ...
Commerce 1. The expenditure approach to tabulating GDP
... 16. You have taken this quiz and received a grade of 3 out of a possible 10 points (F). You are allowed to take a second version of this quiz. If you score 7 or more, you can raise your score to a 7 (C). You will need to study for the second version. In making a rational decision as to whether or no ...
... 16. You have taken this quiz and received a grade of 3 out of a possible 10 points (F). You are allowed to take a second version of this quiz. If you score 7 or more, you can raise your score to a 7 (C). You will need to study for the second version. In making a rational decision as to whether or no ...
Robert Cambridge, MA 02138
... Since I omitted the two standard sources of exogenous growth—population change and technological progress—the model has steady-state levels of capital, k*, and consumption, c*. The value k* is determined from equation (3) by the condition fi(k*) = p. ...
... Since I omitted the two standard sources of exogenous growth—population change and technological progress—the model has steady-state levels of capital, k*, and consumption, c*. The value k* is determined from equation (3) by the condition fi(k*) = p. ...
Pre-Test Chap 12 Handout Page
... (a) the classical economists were right - in the long run, interest rates would equilibrate savings and investment. (b) the self-correcting mechanism of the economy works slowly. (c) high rates of unemployment could not occur for an extended period of time. (d) the Great Depression was a long-run ph ...
... (a) the classical economists were right - in the long run, interest rates would equilibrate savings and investment. (b) the self-correcting mechanism of the economy works slowly. (c) high rates of unemployment could not occur for an extended period of time. (d) the Great Depression was a long-run ph ...
Working paper version.
... countries. Weak fiscal capacity is an important obstacle to the governments in developing countries that are aiming to invest in infrastructure and provide better public goods and employment opportunities.5 The sale revenue of land can be an important source of income for those governments with fisc ...
... countries. Weak fiscal capacity is an important obstacle to the governments in developing countries that are aiming to invest in infrastructure and provide better public goods and employment opportunities.5 The sale revenue of land can be an important source of income for those governments with fisc ...
Department of Land Economy
... ECB in the long-term link between money (M3 in this case) and inflation. This focus, of course, reflects the notion that inflation is a monetary phenomenon to be tackled by both manipulating the rate of interest and watching movements in M3. Short-term volatility of inflation is allowed but not in t ...
... ECB in the long-term link between money (M3 in this case) and inflation. This focus, of course, reflects the notion that inflation is a monetary phenomenon to be tackled by both manipulating the rate of interest and watching movements in M3. Short-term volatility of inflation is allowed but not in t ...
Sec 4, Mod 18, 19 Aggregate Supply
... An increase in aggregate demand during the horizontal range (AD1 to AD2) means that the economy is in recession…..excess production capacity and a high unemployment rate. Businesses are willing to produce more output at existing prices. An initial change in spending and resulting change in aggregat ...
... An increase in aggregate demand during the horizontal range (AD1 to AD2) means that the economy is in recession…..excess production capacity and a high unemployment rate. Businesses are willing to produce more output at existing prices. An initial change in spending and resulting change in aggregat ...
NBER WORKING PAPER SERIES MONETARY POLICY IN AN UNCERTAIN ECONOMY Martin Feldstein
... when the forecast says there is only a small chance of rain. If there is no rain, he suffers the small inconvenience of carrying the umbrella. But if he does not bring the umbrella and it does rain, he may suffer the much larger inconvenience of being caught in a downpour. The prudent central bank s ...
... when the forecast says there is only a small chance of rain. If there is no rain, he suffers the small inconvenience of carrying the umbrella. But if he does not bring the umbrella and it does rain, he may suffer the much larger inconvenience of being caught in a downpour. The prudent central bank s ...
military competition between friends? hegemonic development and
... selected here, their combined share of the GDP of the United States in 1920 was 67 per cent; in 1938 this share was 73 per cent. Hence, the United States was the unam biguous economic leader of the interwar period; a position which had emerged latest by the beginning of the century 4 However, the Am ...
... selected here, their combined share of the GDP of the United States in 1920 was 67 per cent; in 1938 this share was 73 per cent. Hence, the United States was the unam biguous economic leader of the interwar period; a position which had emerged latest by the beginning of the century 4 However, the Am ...
NBER WORKING PAPER SERIES IS-LM AND MONETARISM Michael D. Bordo Anna J. Schwartz
... (1969, 1970) offered the most critical appraisal. He did so not on grounds that its substance was flawed, but for three incidental shortcomings. One, it was an improper representation of the traditional quantity theory. Two, it was a misinterpretation of doctrinal history, of the shift from the tran ...
... (1969, 1970) offered the most critical appraisal. He did so not on grounds that its substance was flawed, but for three incidental shortcomings. One, it was an improper representation of the traditional quantity theory. Two, it was a misinterpretation of doctrinal history, of the shift from the tran ...
Chapter 22: Money Demand, the Equilibrium Interest Rate, and
... • If someone buys a 10-year bond with a fixed rate of 10%, and a newly issued 10-year bond pays 12%, then the old bond paying 10% will have fallen in value. • Higher bond prices mean that the interest a buyer is willing to accept is lower than before. • When interest rates are high (low) and expecte ...
... • If someone buys a 10-year bond with a fixed rate of 10%, and a newly issued 10-year bond pays 12%, then the old bond paying 10% will have fallen in value. • Higher bond prices mean that the interest a buyer is willing to accept is lower than before. • When interest rates are high (low) and expecte ...
The unemployment rate is the number of people actively looking for
... State and federal governments reduce the personal financial cost of being unemployed through the unemployment compensation provided to many unemployed workers. Government spending is funded, in part, from tax revenues. Therefore, unemployment compensation spreads out the cost of being unemployed amo ...
... State and federal governments reduce the personal financial cost of being unemployed through the unemployment compensation provided to many unemployed workers. Government spending is funded, in part, from tax revenues. Therefore, unemployment compensation spreads out the cost of being unemployed amo ...
Restructuring Marketing Spending to Do More
... media company that diligently pursued all three strategic sourcing levers found that more than 70 percent of the value it identified came from improving the way it worked with its vendors (see Exhibit 1). Marketers can uncover value by critically examining whether to develop an internal capability, ...
... media company that diligently pursued all three strategic sourcing levers found that more than 70 percent of the value it identified came from improving the way it worked with its vendors (see Exhibit 1). Marketers can uncover value by critically examining whether to develop an internal capability, ...
Overview of the IMPLAN Model
... – Enables determination of specific multipliers for the project – Multipliers measure how much a type of output changes in response to a change in input – i.e. – for each new employee directly involved, a project with a 1.5 employment multiplier will add an additional 0.5 employees through downstrea ...
... – Enables determination of specific multipliers for the project – Multipliers measure how much a type of output changes in response to a change in input – i.e. – for each new employee directly involved, a project with a 1.5 employment multiplier will add an additional 0.5 employees through downstrea ...
Lecture 1: Gross Domestic Product
... Spend the next several lectures looking at the variation in income (production) across time and across countries ...
... Spend the next several lectures looking at the variation in income (production) across time and across countries ...
1. assessing the stance of irish fiscal policy
... tax burden, which is roughly equal to the share of government current revenues in GNP, stabilised at around 42 per cent. With strong growth in the economy in more recent years there has been the steady decline in the share of current expenditure in GNP, with the share of non-interest current expendi ...
... tax burden, which is roughly equal to the share of government current revenues in GNP, stabilised at around 42 per cent. With strong growth in the economy in more recent years there has been the steady decline in the share of current expenditure in GNP, with the share of non-interest current expendi ...
Requirements for Policy Rules for the Fed
... In particular, the Act would require that the Fed “submit to the appropriate congressional committees a Directive Policy Rule… which shall describe the strategy or rule of the Federal Open Market Committee for the systematic quantitative adjustment of the Policy Instrument Target to respond to a cha ...
... In particular, the Act would require that the Fed “submit to the appropriate congressional committees a Directive Policy Rule… which shall describe the strategy or rule of the Federal Open Market Committee for the systematic quantitative adjustment of the Policy Instrument Target to respond to a cha ...
Document
... Equilibrium in the goods market implies that an increase in the interest rate leads to a decrease in output. This relation is represented by the downward-sloping IS curve. Changes in factors that decrease the demand for goods, given the interest rate, shift the IS curve to the left. Changes in f ...
... Equilibrium in the goods market implies that an increase in the interest rate leads to a decrease in output. This relation is represented by the downward-sloping IS curve. Changes in factors that decrease the demand for goods, given the interest rate, shift the IS curve to the left. Changes in f ...