Short versus Long Coalitions: Electoral Accountability and the Size
... There is substantial scholarly interest in the effects of government forms on public policy, but little agreement as to net effects on government spending or the mechanisms by which structures of accountability matter. While Grilli, Masciandaro and Tabellini (1991) found that majoritarian systems t ...
... There is substantial scholarly interest in the effects of government forms on public policy, but little agreement as to net effects on government spending or the mechanisms by which structures of accountability matter. While Grilli, Masciandaro and Tabellini (1991) found that majoritarian systems t ...
Appropriate Macroeconomic Policies for Complex
... crisis period. We need to deal better with heterogeneity across agents and the interaction among those heterogeneous agents. Agent-based modelling dispenses with the optimisation assumption and allows for more complex interactions between ...
... crisis period. We need to deal better with heterogeneity across agents and the interaction among those heterogeneous agents. Agent-based modelling dispenses with the optimisation assumption and allows for more complex interactions between ...
Interactive Tool
... stimulate inflation. If growth in spending exceeds growth in capacity, inflationary pressures tend to emerge. If growth in spending is less than the growth in capacity, then the economy will not be producing as much as it could. As a result, unemployment may rise. When the Federal Reserve adopts a r ...
... stimulate inflation. If growth in spending exceeds growth in capacity, inflationary pressures tend to emerge. If growth in spending is less than the growth in capacity, then the economy will not be producing as much as it could. As a result, unemployment may rise. When the Federal Reserve adopts a r ...
Financial Markets - KsuWeb Home Page
... – USA demand for capital from the rest of the world equals the difference between national domestic investment and national domestic saving for different values of the world interest rate. – The world supply of capital equals the amount that other countries are willing to lend in world capital marke ...
... – USA demand for capital from the rest of the world equals the difference between national domestic investment and national domestic saving for different values of the world interest rate. – The world supply of capital equals the amount that other countries are willing to lend in world capital marke ...
The Budget Outlook and Options for Fiscal Policy
... understandably includes such spending increases. The key question for budgetary purposes, though, is how the required spending will be financed and how the looming budget imbalance will be corrected. We address the effects of two options. The Administration’s budget proposes to finance the war on t ...
... understandably includes such spending increases. The key question for budgetary purposes, though, is how the required spending will be financed and how the looming budget imbalance will be corrected. We address the effects of two options. The Administration’s budget proposes to finance the war on t ...
The other half of macroeconomics and the three stages of
... For example, if a person with an income of $1,000 decides to spend $900 and save $100, the $900 that is spent becomes someone else’s income, which means it is already circulating in the economy. Typically, the $100 that he saved is deposited with a financial institution such as a bank, which then le ...
... For example, if a person with an income of $1,000 decides to spend $900 and save $100, the $900 that is spent becomes someone else’s income, which means it is already circulating in the economy. Typically, the $100 that he saved is deposited with a financial institution such as a bank, which then le ...
Social Welfare Expenditures in the United States
... capita social spending in 1990 dollars in Table 3 show that the leader Denmark was spending only $182 per capita while the United States trailed the pack at $35 per capita. Lindert (1994) confines his measures to social spending by governments, and thus government mandates for private social spendin ...
... capita social spending in 1990 dollars in Table 3 show that the leader Denmark was spending only $182 per capita while the United States trailed the pack at $35 per capita. Lindert (1994) confines his measures to social spending by governments, and thus government mandates for private social spendin ...
Unit 7 Unemployment and inflation Objectives Calculate the
... Demand-pull inflation occurs when there is an increase in aggregate demand (C+I+G+X-M) but aggregate supply remains the same. Businesses cannot increase supply because all the available resources are fully employed. Businesses then respond by increasing prices. Demand-pull inflation is often describ ...
... Demand-pull inflation occurs when there is an increase in aggregate demand (C+I+G+X-M) but aggregate supply remains the same. Businesses cannot increase supply because all the available resources are fully employed. Businesses then respond by increasing prices. Demand-pull inflation is often describ ...
FINANCING DEVELOPMENT: FISCAL REFORM, DEBT
... In order to achieve long term fiscal sustainability and reposition the government in the economy, an expenditure rationalization strategy is needed. It will be governed by five priorities: ➜ Ceiling of the overall public expenditure ➜ Reduce share of current expenditures ➜ Rationalize investment spe ...
... In order to achieve long term fiscal sustainability and reposition the government in the economy, an expenditure rationalization strategy is needed. It will be governed by five priorities: ➜ Ceiling of the overall public expenditure ➜ Reduce share of current expenditures ➜ Rationalize investment spe ...
Excess Burden of Taxation
... produces a higher level of economic welfare might have a greater measured excess burden than an alternative that raises the same revenue. If excess burden is to be useful in the evaluation and formation of tax policies, it is necessary that the measure correspond, at least approximately, to the econ ...
... produces a higher level of economic welfare might have a greater measured excess burden than an alternative that raises the same revenue. If excess burden is to be useful in the evaluation and formation of tax policies, it is necessary that the measure correspond, at least approximately, to the econ ...
Ch 6: Macroeconomic Measurements, Part II GDP and Real GDP
... population. GDP figures are useful for obtaining an estimate of the productive capabilities of an economy but they do not ...
... population. GDP figures are useful for obtaining an estimate of the productive capabilities of an economy but they do not ...
Balancing the Three Approaches to Measuring Gross Domestic
... approaches. (For more information on data content, please see Skipper (2005), ‘Early estimates of GDP: information content and forecasting methods’.) The rate of change in output is, for this reason, used to set the rate of change of UK GDP. As more data from all three approaches become available, t ...
... approaches. (For more information on data content, please see Skipper (2005), ‘Early estimates of GDP: information content and forecasting methods’.) The rate of change in output is, for this reason, used to set the rate of change of UK GDP. As more data from all three approaches become available, t ...
The Ricardian Approach to Budget Deficits
... One objection to Ricardian equivalence is that some persons, such as those without children, are not connected to future generations (see James Tobin and Willem Buiter, 1980, pp. 86ff.). Persons in this situation tend to be made wealthier when the government substitutes a budget deficit for taxes. A ...
... One objection to Ricardian equivalence is that some persons, such as those without children, are not connected to future generations (see James Tobin and Willem Buiter, 1980, pp. 86ff.). Persons in this situation tend to be made wealthier when the government substitutes a budget deficit for taxes. A ...
the dual income tax - Victoria University of Wellington
... An imputed return to corporate assets is taxed as capital income; the remaining part of corporate profit is taxed as labour income ...
... An imputed return to corporate assets is taxed as capital income; the remaining part of corporate profit is taxed as labour income ...
Price and Inflation
... What is spent on a product is the income to those who helped to produce and sell it. GDP can be measured either from the expenditure approach or the income approach. ...
... What is spent on a product is the income to those who helped to produce and sell it. GDP can be measured either from the expenditure approach or the income approach. ...
Speech: The Federal Reserve System: Balancing Independence
... The Fed has increased the degree of transparency regarding its monetary policy decisions over the past two decades. The FOMC issues a statement after each meeting, detailed minutes three weeks later, and verbatim transcripts after five years. The Fed publishes weekly balance sheets, monthly and quar ...
... The Fed has increased the degree of transparency regarding its monetary policy decisions over the past two decades. The FOMC issues a statement after each meeting, detailed minutes three weeks later, and verbatim transcripts after five years. The Fed publishes weekly balance sheets, monthly and quar ...
Aggregate Supply and Demand Analysis
... with matching expected and uncertain future returns with present real costs. And such a decision can be a very troublesome one to carry through.9 Because investment decisions are fundamentally based on true uncertainty about future events, investment purchases might be very volatile indeed as histor ...
... with matching expected and uncertain future returns with present real costs. And such a decision can be a very troublesome one to carry through.9 Because investment decisions are fundamentally based on true uncertainty about future events, investment purchases might be very volatile indeed as histor ...
6010 T : M
... In the early stages of demand management policies, the ‘loose’ reasoning was that, by a judicious timing, no public finance instrument would, over the business cycle, create financing problems. This would be the result of the automatic stabilizing properties of taxation. This view was supported by t ...
... In the early stages of demand management policies, the ‘loose’ reasoning was that, by a judicious timing, no public finance instrument would, over the business cycle, create financing problems. This would be the result of the automatic stabilizing properties of taxation. This view was supported by t ...
6010 - Reference
... In the early stages of demand management policies, the ‘loose’ reasoning was that, by a judicious timing, no public finance instrument would, over the business cycle, create financing problems. This would be the result of the automatic stabilizing properties of taxation. This view was supported by t ...
... In the early stages of demand management policies, the ‘loose’ reasoning was that, by a judicious timing, no public finance instrument would, over the business cycle, create financing problems. This would be the result of the automatic stabilizing properties of taxation. This view was supported by t ...
National Income Accounting: Gross Domestic Product (GDP)
... • A significant use of GDP is to measure how production changes from year to year. • Price changes from year to year make it difficult to compare one year’s GDP with the next year’s GDP. – Both output levels and prices can change. – We want to see only the change in output levels. – Because of this, ...
... • A significant use of GDP is to measure how production changes from year to year. • Price changes from year to year make it difficult to compare one year’s GDP with the next year’s GDP. – Both output levels and prices can change. – We want to see only the change in output levels. – Because of this, ...
the fiscal framework in romania – the efficiency of
... debt sustainability by public finances can be achieved in a framework based on rules or one based on discretion. If in the second case, the advantage is represented by flexibility and possibility to respond timely to shocks manifested in an economy, a policy based on rules has the advantage of reduc ...
... debt sustainability by public finances can be achieved in a framework based on rules or one based on discretion. If in the second case, the advantage is represented by flexibility and possibility to respond timely to shocks manifested in an economy, a policy based on rules has the advantage of reduc ...
The “Orthodoxy” of Leon H. Keyserling: Advisor to the President.
... of the Federal Reserve. Higher interest rates would decrease investment and consumer borrowing to decrease investment aggregate demand back towards the level of aggregate supply—the diminishment of so called “excess demand”. But, to increase interest rates would also increase costs which may be pass ...
... of the Federal Reserve. Higher interest rates would decrease investment and consumer borrowing to decrease investment aggregate demand back towards the level of aggregate supply—the diminishment of so called “excess demand”. But, to increase interest rates would also increase costs which may be pass ...