Fiscal policy, net exports, and the sectoral composition of output in
... real effective exchange rate appreciation following a positive government spending shock. Moreover, Benetrix and Lane (2010) show that an increase in government spending matters not only for aggregate variables but also for the sectoral composition of output, i.e. the policy increases the relative s ...
... real effective exchange rate appreciation following a positive government spending shock. Moreover, Benetrix and Lane (2010) show that an increase in government spending matters not only for aggregate variables but also for the sectoral composition of output, i.e. the policy increases the relative s ...
Spending Entitlements and Tax Entitlements
... affluent households as much as they benefit the poor. This shouldn’t be surprising in that programs like Social Security and Medicare were designed to be universally available for the older population. Although their benefits are spread broadly across the income spectrum, they are in fact targeted f ...
... affluent households as much as they benefit the poor. This shouldn’t be surprising in that programs like Social Security and Medicare were designed to be universally available for the older population. Although their benefits are spread broadly across the income spectrum, they are in fact targeted f ...
President’s Report Board Directors
... The increase in real GDP in the second quarter primarily reflected positive contributions from exports, nonresidential fixed investment, inventory investment and federal government spending. Those effects were partly offset by negative contributions from state and local government spending and impor ...
... The increase in real GDP in the second quarter primarily reflected positive contributions from exports, nonresidential fixed investment, inventory investment and federal government spending. Those effects were partly offset by negative contributions from state and local government spending and impor ...
Lecture31(Ch28)
... • First, the Fed lowers the interest rate when it shouldn’t have (the mistake Kelly McGillis warned Tom Cruise about)--this causes a boom • Then the Fed undoes the mistake by shifting monetary policy back towards a lower inflation rate • Now look at what happens over time ...
... • First, the Fed lowers the interest rate when it shouldn’t have (the mistake Kelly McGillis warned Tom Cruise about)--this causes a boom • Then the Fed undoes the mistake by shifting monetary policy back towards a lower inflation rate • Now look at what happens over time ...
Principles of Economics, Case and Fair,9e
... disposable personal income or after-tax income Personal income minus personal income taxes. The amount that households have to spend or save. personal saving The amount of disposable income that is left after total personal spending in a given period. personal saving rate The percentage of disposabl ...
... disposable personal income or after-tax income Personal income minus personal income taxes. The amount that households have to spend or save. personal saving The amount of disposable income that is left after total personal spending in a given period. personal saving rate The percentage of disposabl ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Rational Expectations and Economic Policy
... Supposing that the process of designing, ordering, and installing capital can be described by a fixed distribution of lags, Hall (1977) found the average lag to be about two years. Evidence of a different kind is reported by Mayer (1960). On the basis of a survey he found that the average lag (weigh ...
... Supposing that the process of designing, ordering, and installing capital can be described by a fixed distribution of lags, Hall (1977) found the average lag to be about two years. Evidence of a different kind is reported by Mayer (1960). On the basis of a survey he found that the average lag (weigh ...
Economic Policy
... Family with Two Children Statistical Abstract of the United States, 2003, Table 1344. Copyright © Houghton Mifflin Company. All rights reserved. ...
... Family with Two Children Statistical Abstract of the United States, 2003, Table 1344. Copyright © Houghton Mifflin Company. All rights reserved. ...
CLOSING THE GAPS OF THE SGP. WHY A
... criterion remained more or less untouched. Obvious malfunctions of the markets were not addressed. Driven by the hope that different interest rates paid by the currency’s members are a sufficient incentive for prudent fiscal policies, i.e., SGP plus markets work, the possibility of market distortion ...
... criterion remained more or less untouched. Obvious malfunctions of the markets were not addressed. Driven by the hope that different interest rates paid by the currency’s members are a sufficient incentive for prudent fiscal policies, i.e., SGP plus markets work, the possibility of market distortion ...
The Wizard Test Maker
... Based on the above diagram, which of the following could cause a shift from point A to point B? (A) Increase is demand for Francs (B) Decreased political stability in France (C) Expectations that the Franc will appreciate (D) A relative increase in interest rates in France (E) Increase in relative l ...
... Based on the above diagram, which of the following could cause a shift from point A to point B? (A) Increase is demand for Francs (B) Decreased political stability in France (C) Expectations that the Franc will appreciate (D) A relative increase in interest rates in France (E) Increase in relative l ...
The Classical View
... decline in a nation’s aggregate supply, which destabilizes the economy by simultaneously causing cost-push inflation and recession. ...
... decline in a nation’s aggregate supply, which destabilizes the economy by simultaneously causing cost-push inflation and recession. ...
EN EN Introduction After the severe credit
... should be nevertheless noted that the calculation of potential growth has to be interpreted with caution, given fast structural changes in the Estonian economy due both to the catching-up process and the ongoing post-crisis rebalancing of the economy towards a more sustainable growth pattern. Overal ...
... should be nevertheless noted that the calculation of potential growth has to be interpreted with caution, given fast structural changes in the Estonian economy due both to the catching-up process and the ongoing post-crisis rebalancing of the economy towards a more sustainable growth pattern. Overal ...
Review Packet
... 1. Define Scarcity. Give two conditions that must be met in order for a resource to be considered scarce. Tell why scarcity is the basic problem of economics. Give two examples of scarce resources for each of the following categories: land, labor, and capital. 2. Define Opportunity Cost. Tell the op ...
... 1. Define Scarcity. Give two conditions that must be met in order for a resource to be considered scarce. Tell why scarcity is the basic problem of economics. Give two examples of scarce resources for each of the following categories: land, labor, and capital. 2. Define Opportunity Cost. Tell the op ...
macronotes - Houston H. Stokes Page
... is greater. Is this correct? Will this continue? What long run implications does a lower role for technological change have? ...
... is greater. Is this correct? Will this continue? What long run implications does a lower role for technological change have? ...
Letter of Intent, Memorandum of Economic and Financial
... macroeconomic policies of the Government of Rwanda for the remainder of fiscal year 2013/14 and the medium term. The Government requests that these policies, which aim to maintain macroeconomic stability, sustain high rates of economic growth, further reduce poverty and income inequality, and contin ...
... macroeconomic policies of the Government of Rwanda for the remainder of fiscal year 2013/14 and the medium term. The Government requests that these policies, which aim to maintain macroeconomic stability, sustain high rates of economic growth, further reduce poverty and income inequality, and contin ...
PDF
... The two dimensional migration shares array (age cohorts and education level) controls the total migration (in and out) of working age people in response to changes in regional labour demand and quality of life. Migrants are assumed to migrate as families including both youth and elderly members. The ...
... The two dimensional migration shares array (age cohorts and education level) controls the total migration (in and out) of working age people in response to changes in regional labour demand and quality of life. Migrants are assumed to migrate as families including both youth and elderly members. The ...
Asset-based Reserve Requirements: Reasserting
... provide monetary authorities with multiple independent additional tools of monetary control that can supplement existing control over the short-term interest rate. In terms of Tinbergen’s (1952) targets and instruments approach to macroeconomic stabilization policy, ABRRs can provide additional inst ...
... provide monetary authorities with multiple independent additional tools of monetary control that can supplement existing control over the short-term interest rate. In terms of Tinbergen’s (1952) targets and instruments approach to macroeconomic stabilization policy, ABRRs can provide additional inst ...
Second Midterm Monday/Wednesday Lecture
... a) Great Britain would offer a tax credit to any of their own citizens who purchase goods made in the Falkland Islands. British citizens who opted to purchase Falkland Island goods would pay lower taxes to Great Britain, which effectively increases the British demand for Falkland goods and services. ...
... a) Great Britain would offer a tax credit to any of their own citizens who purchase goods made in the Falkland Islands. British citizens who opted to purchase Falkland Island goods would pay lower taxes to Great Britain, which effectively increases the British demand for Falkland goods and services. ...
Chapter 2
... a. Workers and jobs have different requirements, so there is a matching problem b. It takes time to match workers to jobs, so there is always some unemployment c. Unemployment rises in recessions because productivity shocks cause increased mismatches between workers and jobs d. A shock that increase ...
... a. Workers and jobs have different requirements, so there is a matching problem b. It takes time to match workers to jobs, so there is always some unemployment c. Unemployment rises in recessions because productivity shocks cause increased mismatches between workers and jobs d. A shock that increase ...
Christina D. Romer NATIONAL
... interest rates and in the high-employment surplus during recessions and around troughs were taken largely to end the recessions or for other reasons. We find that nearly all of the monetary changes and most of the fiscal changes were genuinely anti-recessionary. Interestingly, we find that many of t ...
... interest rates and in the high-employment surplus during recessions and around troughs were taken largely to end the recessions or for other reasons. We find that nearly all of the monetary changes and most of the fiscal changes were genuinely anti-recessionary. Interestingly, we find that many of t ...
Document
... 1. Warm up—Outline the five components of GDP. Give a clear example of what is counted in each. (e.g. Imports include oil purchased from Saudi Arabia) 2. Government fiscal policy. (reading, notes, discussion, questions) 3. Complete GDP two country comparison. ...
... 1. Warm up—Outline the five components of GDP. Give a clear example of what is counted in each. (e.g. Imports include oil purchased from Saudi Arabia) 2. Government fiscal policy. (reading, notes, discussion, questions) 3. Complete GDP two country comparison. ...
Sustainability of the public sector wage bill
... According to Wagner’s Law, Government will increase its share in the economy if per capita incomes increase. The dominant forces that influence government expenditure, such as social welfare, administration, law and order do not support the growing size of South Africa’s public sector. The fact that ...
... According to Wagner’s Law, Government will increase its share in the economy if per capita incomes increase. The dominant forces that influence government expenditure, such as social welfare, administration, law and order do not support the growing size of South Africa’s public sector. The fact that ...
1. Introduction
... 2. Financial markets and fiscal policy in a monetary union As the European Monetary Union (EMU) has been perhaps the most important policy decision in the international financial markets is the late 20th century, it has attracted attention of many analysts and researchers. Financial markets may eit ...
... 2. Financial markets and fiscal policy in a monetary union As the European Monetary Union (EMU) has been perhaps the most important policy decision in the international financial markets is the late 20th century, it has attracted attention of many analysts and researchers. Financial markets may eit ...
Chapter 9 M G F
... till 2004-05 and in the current year, the shortfall was only marginal. The fiscal policy has a significant role in maintaining the macroeconomic stability but its efficacy and effectiveness depends upon the structure of fiscal deficit. However, the large structural fiscal deficit caused due to domin ...
... till 2004-05 and in the current year, the shortfall was only marginal. The fiscal policy has a significant role in maintaining the macroeconomic stability but its efficacy and effectiveness depends upon the structure of fiscal deficit. However, the large structural fiscal deficit caused due to domin ...