... there are studies that primarily concern themselves with growth and pollution levels and interpret their results as indicative of the relative strength of scale versus technique effects (for example, Grossman and Krueger (1993, 1995), Shafik (1994), Seldon and Song (1994), Gale and Mendez (1996), an ...
Chapter 17 Macroeconomic and Industry Analysis
... 44. ________ is a proposition that a strong proponent of supply side economics would most likely stress. A. Higher marginal tax rates will lead to a reduction in the size of the budget deficit and lower interest rates as they depend on government revenues B. Higher marginal tax rates promote economi ...
... 44. ________ is a proposition that a strong proponent of supply side economics would most likely stress. A. Higher marginal tax rates will lead to a reduction in the size of the budget deficit and lower interest rates as they depend on government revenues B. Higher marginal tax rates promote economi ...
THE DEMAND FOR MONEY
... Money is the medium of exchange and the final payment in most transactions involves the transfer of money. But this alone is not enough to generate a demand for money. To see why, suppose that there are two assets in the economy: bonds that pay risk free interest and money that bears no interest, bu ...
... Money is the medium of exchange and the final payment in most transactions involves the transfer of money. But this alone is not enough to generate a demand for money. To see why, suppose that there are two assets in the economy: bonds that pay risk free interest and money that bears no interest, bu ...
economic consequences of the size of government in australia
... The aim of this thesis is to contribute to the economics literature by providing a theoretical and empirical investigation of the effects of changes in the relative size of government on Australian economic performance. The theoretical literature indicates that an expansion in government size is lik ...
... The aim of this thesis is to contribute to the economics literature by providing a theoretical and empirical investigation of the effects of changes in the relative size of government on Australian economic performance. The theoretical literature indicates that an expansion in government size is lik ...
Press ECON of Northeastern University
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
... 2010). This algorithm can be extended to product-based, priority-matching rule used allow each house to have multiple manag- in the Stanford market for managers preers (Roth & Sotomayor, 1990). 2010. Similar to Stanford, Birmingham broke ties in favor of consultants. NewThe exquisite work of Alvin R ...
mmi06 kletzer 1923465 en
... More specifically, a sovereign government chooses whether to honor its own obligations, whether to foreign or domestic creditors. The ability of a sovereign to borrow depends upon its willingness to repay. Following the literature on sovereign debt, fiscal authorities choose to repay if doing so is ...
... More specifically, a sovereign government chooses whether to honor its own obligations, whether to foreign or domestic creditors. The ability of a sovereign to borrow depends upon its willingness to repay. Following the literature on sovereign debt, fiscal authorities choose to repay if doing so is ...
Optimal Monetary Policy in a Currency Union: Implications of a
... …rms must borrow at the beginning of a period from …nancial intermediaries. Financial intermediaries receive deposits from households and supply loans to …rms at the nominal interest rate Rtl . For simplicity we can approximate the lending rate Rtl by the policycontrolled risk-free interest rate Rt ...
... …rms must borrow at the beginning of a period from …nancial intermediaries. Financial intermediaries receive deposits from households and supply loans to …rms at the nominal interest rate Rtl . For simplicity we can approximate the lending rate Rtl by the policycontrolled risk-free interest rate Rt ...
The impact of policy change announcements by the - UvA-DARE
... keep on changing policies, making the future economic environment more unpredictable and uncertain. Hence, the markets might react even more negative to a policy change. Pastor and Veronesi do not take this kind of uncertainty into account. The authors make the government unpredictable in a differen ...
... keep on changing policies, making the future economic environment more unpredictable and uncertain. Hence, the markets might react even more negative to a policy change. Pastor and Veronesi do not take this kind of uncertainty into account. The authors make the government unpredictable in a differen ...
ABSTRACT Title of Document:
... monetization, creating an increase in current prices as in Sargent and Wallace (1981) and Drazen (1985). This occurs because the desire to reduce money holdings in the future creates pressures on the exchange rate market today, which in the absence of central bank intervention effectively increases ...
... monetization, creating an increase in current prices as in Sargent and Wallace (1981) and Drazen (1985). This occurs because the desire to reduce money holdings in the future creates pressures on the exchange rate market today, which in the absence of central bank intervention effectively increases ...
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... service payroll (-0.2% of GDP); Postponement of agreed pay increase (-0.1% of GDP). ...
... service payroll (-0.2% of GDP); Postponement of agreed pay increase (-0.1% of GDP). ...
Economics of Money, Banking, and Financial Markets, 8e
... 19.4 Further Developments in the Keynesian Approach 1) The Baumol-Tobin analysis suggests that A) velocity is relatively constant. B) the transactions component of the demand for money is negatively related to the level of interest rates. C) the speculative motive is nonexistent. D) velocity is unre ...
... 19.4 Further Developments in the Keynesian Approach 1) The Baumol-Tobin analysis suggests that A) velocity is relatively constant. B) the transactions component of the demand for money is negatively related to the level of interest rates. C) the speculative motive is nonexistent. D) velocity is unre ...
- Chicago Fed
... is the total number of repeat responses in a given period. We do this by calculating the denominator as a threeperiod moving average of the lag period, the current period, and the lead period.7 We do this because there are a few periods over the history of the index where there was a notable increas ...
... is the total number of repeat responses in a given period. We do this by calculating the denominator as a threeperiod moving average of the lag period, the current period, and the lead period.7 We do this because there are a few periods over the history of the index where there was a notable increas ...
Inflation Through the Lens of the Fiscal Theory
... explore a wide range of issues through the lens of the fiscal theory to reach conclusions that contrast sharply with conventional perspective. This chapter also re-examines some practical issues in the light of the fiscal theory. Most of the article focuses on the nature of equilibrium, including pr ...
... explore a wide range of issues through the lens of the fiscal theory to reach conclusions that contrast sharply with conventional perspective. This chapter also re-examines some practical issues in the light of the fiscal theory. Most of the article focuses on the nature of equilibrium, including pr ...
Budget deficit and national debt: sharing India experience
... predominant Keynesian stimulus possibly because later is the only option left to the governments if they have to be seen as doing something about the crises. However, the fear of sovereign defaults started taking shape in some countries from the late 2009. Globally, the debt star ...
... predominant Keynesian stimulus possibly because later is the only option left to the governments if they have to be seen as doing something about the crises. However, the fear of sovereign defaults started taking shape in some countries from the late 2009. Globally, the debt star ...
Budget Deficit and National Debt: Sharing India Experience
... predominant Keynesian stimulus possibly because later is the only option left to the governments if they have to be seen as doing something about the crises. However, the fear of sovereign defaults started taking shape in some countries from the late 2009. Globally, the debt star ...
... predominant Keynesian stimulus possibly because later is the only option left to the governments if they have to be seen as doing something about the crises. However, the fear of sovereign defaults started taking shape in some countries from the late 2009. Globally, the debt star ...
Corruption and the composition of government expenditure
... estimated through widely-used robust regression techniques (see notes to the tables). Fig. 1 provides direct visual evidence that this result is not driven by a small group of countries. Other components of government expenditure are also significantly associated with the corruption index at the con ...
... estimated through widely-used robust regression techniques (see notes to the tables). Fig. 1 provides direct visual evidence that this result is not driven by a small group of countries. Other components of government expenditure are also significantly associated with the corruption index at the con ...
NBER WORKING PAPER SERIES CREDIT SPREADS AND MONETARY POLICY Vasco Cúrdia Michael Woodford
... statistics did not yet indicate that real GDP was declining, and according to many indicators inflation was if anything increasing; a simple “Taylor rule” (Taylor, 1993) for monetary policy would thus not seem to have provided any ground for the Fed’s actions at the time. Obviously, they were paying ...
... statistics did not yet indicate that real GDP was declining, and according to many indicators inflation was if anything increasing; a simple “Taylor rule” (Taylor, 1993) for monetary policy would thus not seem to have provided any ground for the Fed’s actions at the time. Obviously, they were paying ...
Republic of Montenegro: Public Expenditure and Institutional Review
... starting with a resumption of talks on the Stabilization and Association Agreement (SAA). With only about 620,000 inhabitants, Montenegro’s domestic market is extremely small. EU integration thus remains fundamental to enhancing its growth and prosperity through expanded market access, increased spe ...
... starting with a resumption of talks on the Stabilization and Association Agreement (SAA). With only about 620,000 inhabitants, Montenegro’s domestic market is extremely small. EU integration thus remains fundamental to enhancing its growth and prosperity through expanded market access, increased spe ...
Chapter 4 D : M
... specified period. The revenue deficit of the Union Government which exhibited a declining trend during the first three years of the X Plan (2002-07) has increased by 39.39 per cent during 2005-06 over the previous year. In relation to GDP, revenue deficit increased from the level of 2.53 per cent in ...
... specified period. The revenue deficit of the Union Government which exhibited a declining trend during the first three years of the X Plan (2002-07) has increased by 39.39 per cent during 2005-06 over the previous year. In relation to GDP, revenue deficit increased from the level of 2.53 per cent in ...
Uncertainty Shocks in a Model of Effective Demand No. 12-15
... markups over marginal cost. A higher markup reduces the demand for consumption, and especially, investment goods. Since output is demand-determined in these models, output and employment must fall when consumption and investment both decline. Thus, comovement is restored, and uncertainty shocks caus ...
... markups over marginal cost. A higher markup reduces the demand for consumption, and especially, investment goods. Since output is demand-determined in these models, output and employment must fall when consumption and investment both decline. Thus, comovement is restored, and uncertainty shocks caus ...
The relevance of Keynes - Dr. Robert E. Looney Homepage
... when I wrote my biography. It was not that I was unaware of it, but I did not place it at the heart of my account of Keynes’s theory. In this I followed the usual treatment. The purpose of the General Theory (Keynes, 1973A) was to explain how an economy could get stuck in a low employment trap. This ...
... when I wrote my biography. It was not that I was unaware of it, but I did not place it at the heart of my account of Keynes’s theory. In this I followed the usual treatment. The purpose of the General Theory (Keynes, 1973A) was to explain how an economy could get stuck in a low employment trap. This ...