Economics Nov 2011 Memo Eng
... tend to invite retaliation Protectionism leads to cost on society, inefficiency and loss in welfare Economies of scale trade allow economies of scale to be maximized and thus unit costs are reduced promotes competition and improves resource allocation Allows each country optimal use o ...
... tend to invite retaliation Protectionism leads to cost on society, inefficiency and loss in welfare Economies of scale trade allow economies of scale to be maximized and thus unit costs are reduced promotes competition and improves resource allocation Allows each country optimal use o ...
An Ageing Australia: Preparing for the Future
... significant fiscal and policy consequences of demographic change seems not to have created much genuine desire for reform. Further, recent interventions to address the threats posed by global economic events have left Australian governments less well placed to handle the effects of ageing than most ...
... significant fiscal and policy consequences of demographic change seems not to have created much genuine desire for reform. Further, recent interventions to address the threats posed by global economic events have left Australian governments less well placed to handle the effects of ageing than most ...
Answer to hw1
... demographic change plus the government action? The combined effect of the actions equals 0.04 + 0.05 − 0.07 = 0.02 = 2%; i.e., the government can partially compensate the effect of the aging of the population on income per capita by trying to increase the labour force participation ratio or increasing ...
... demographic change plus the government action? The combined effect of the actions equals 0.04 + 0.05 − 0.07 = 0.02 = 2%; i.e., the government can partially compensate the effect of the aging of the population on income per capita by trying to increase the labour force participation ratio or increasing ...
Gross National Expenditure Flow of Payments in a Closed Economy
... z Valuation effects = +$502 billion z Change in external wealth = $502 - $804 = -$302 billion – Why the large valuation effects? Two reasons: z Portfolio composition effects: U.S. external assets had more equities than external liabilities, equities that boomed more. z Currency effects as dollar dep ...
... z Valuation effects = +$502 billion z Change in external wealth = $502 - $804 = -$302 billion – Why the large valuation effects? Two reasons: z Portfolio composition effects: U.S. external assets had more equities than external liabilities, equities that boomed more. z Currency effects as dollar dep ...
Government Employment Expenditure and the Effects
... households. As such, it entails a substantial negative wealth effect that leads to a negative impact on private consumption and a positive impact on both the number of hours worked and output in the private sector. In contrast, an unanticipated increase in government expenditure on hours has a negat ...
... households. As such, it entails a substantial negative wealth effect that leads to a negative impact on private consumption and a positive impact on both the number of hours worked and output in the private sector. In contrast, an unanticipated increase in government expenditure on hours has a negat ...
Failure of the Washington Consensus on Inequality and the
... bounds, to be desired. The centrally planned economies were viewed as having too much equality, as not offering sufficient incentives for growth opportunities. It has been considered that it was inevitable that in moving to market capitalism there would be increases in inequality as these incentives ...
... bounds, to be desired. The centrally planned economies were viewed as having too much equality, as not offering sufficient incentives for growth opportunities. It has been considered that it was inevitable that in moving to market capitalism there would be increases in inequality as these incentives ...
Parkin-Bade Chapter 22
... determined when the price level is fixed Explain equilibrium expenditure at a fixed price level Explain the expenditure multiplier and how recessions and expansions begin Explain the relationship between aggregate expenditure and aggregate demand and how the multiplier gets smaller as the pric ...
... determined when the price level is fixed Explain equilibrium expenditure at a fixed price level Explain the expenditure multiplier and how recessions and expansions begin Explain the relationship between aggregate expenditure and aggregate demand and how the multiplier gets smaller as the pric ...
Money Supply
... run adjustment toward “full employment” real GDP. This module also incorporates supply and demand shocks, which can cause problems in addressing the ones in the initial conditions. Finally, you will be able to see how long run adjustment of prices and wages eventually lead to a full employment equil ...
... run adjustment toward “full employment” real GDP. This module also incorporates supply and demand shocks, which can cause problems in addressing the ones in the initial conditions. Finally, you will be able to see how long run adjustment of prices and wages eventually lead to a full employment equil ...
Aggregate demand
... • An increase in q raises EX and improves the domestic country’s CA. – Foreign products have become more expensive relative to domestic product:Each unit of domestic output now purchases fewer units of foreign output, therefore, foreign will demand more exports. ...
... • An increase in q raises EX and improves the domestic country’s CA. – Foreign products have become more expensive relative to domestic product:Each unit of domestic output now purchases fewer units of foreign output, therefore, foreign will demand more exports. ...
Alternative fiscal rules for the new eu member states
... up to a maximum fine of 0.5% of GDP. This general principle, however, is subject to four important qualifications: First, the 3% constraint has been systematically violated by various recidivist EU and EMU old members – 4 years in succession by Germany, 3 by Italy and France, not to mention Greece’ ...
... up to a maximum fine of 0.5% of GDP. This general principle, however, is subject to four important qualifications: First, the 3% constraint has been systematically violated by various recidivist EU and EMU old members – 4 years in succession by Germany, 3 by Italy and France, not to mention Greece’ ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... for the elderly down in the future, this would blunt the impact of aging in those countries. Conversely, if spending on the elderly rises in other countries, to match the technological intensity of the United States, most other countries could face an even greater spending burden than my forecasts s ...
... for the elderly down in the future, this would blunt the impact of aging in those countries. Conversely, if spending on the elderly rises in other countries, to match the technological intensity of the United States, most other countries could face an even greater spending burden than my forecasts s ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... interest sensitivity or insensitivity of planned investment The responsiveness of planned investment spending to changes in the interest rate. Interest sensitivity means that planned investment spending changes a great deal in response to changes in the interest rate; interest insensitivity means li ...
... interest sensitivity or insensitivity of planned investment The responsiveness of planned investment spending to changes in the interest rate. Interest sensitivity means that planned investment spending changes a great deal in response to changes in the interest rate; interest insensitivity means li ...
Chapter 6
... Terms of trade effect. Terms of trade is the ratio of export price to import price. In the previous example, China’s terms of trade is 6/12 = 0.5 before devaluation. It means one unit of exports can buy ½ units of imports. The terms of trade deteriorates after the devaluation, because it is 6/14 = 0 ...
... Terms of trade effect. Terms of trade is the ratio of export price to import price. In the previous example, China’s terms of trade is 6/12 = 0.5 before devaluation. It means one unit of exports can buy ½ units of imports. The terms of trade deteriorates after the devaluation, because it is 6/14 = 0 ...
Official PDF , 73 pages
... shows the declining shares of private non-guaranteeddebt in medium and long term debt which came about due to reduced foreign credit to the private sector and the takeoverof some oi the private debt by the public which would restrict sector so as to avoid problemsof credit-worthiness other sources o ...
... shows the declining shares of private non-guaranteeddebt in medium and long term debt which came about due to reduced foreign credit to the private sector and the takeoverof some oi the private debt by the public which would restrict sector so as to avoid problemsof credit-worthiness other sources o ...
Rethinking the World War II Economy: The Welfare Effects
... America had fought5. Yet, for the soldiers actually fighting it the war was simply one of survival. William O'Neill in his book A Democracy at War describes American Soldiers: Nearly all accepted that having been attacked the United States must defend itself and that they owed the nation a duty. Ho ...
... America had fought5. Yet, for the soldiers actually fighting it the war was simply one of survival. William O'Neill in his book A Democracy at War describes American Soldiers: Nearly all accepted that having been attacked the United States must defend itself and that they owed the nation a duty. Ho ...
Secular Stagnation and the Failed Growth Economy
... The materials used in this study consist of secondary sources of tabular and graphical data and theories found in peer-evaluated journals and scholarly books. The paper will survey briefly the literatures on monopoly concentration, theories of long-term economic stagnation in the macroeconomics, and ...
... The materials used in this study consist of secondary sources of tabular and graphical data and theories found in peer-evaluated journals and scholarly books. The paper will survey briefly the literatures on monopoly concentration, theories of long-term economic stagnation in the macroeconomics, and ...
Has durable goods spending become less sensitive to interest rates?
... However, the beneficial impact on the economy of the Federal Reserve’s accommodative monetary policy stance could be greater than the direct impact of lower interest rates on aggregate spending. The policy stance could, over time, also provide substantial support to the economy indirectly, by mitiga ...
... However, the beneficial impact on the economy of the Federal Reserve’s accommodative monetary policy stance could be greater than the direct impact of lower interest rates on aggregate spending. The policy stance could, over time, also provide substantial support to the economy indirectly, by mitiga ...
Midterm 2 - Fall 2014
... (D) The change in investment of part (C) resulted in a change in the exchange rate. Suppose that for some reason the central bank doesn't like this change and decides to change money supply in o ...
... (D) The change in investment of part (C) resulted in a change in the exchange rate. Suppose that for some reason the central bank doesn't like this change and decides to change money supply in o ...
Chapter 15
... – Because of automatic stabilizers, the government budget deficit rises in recessions and falls in booms • The full-employment deficit is a measure of what the government budget deficit would be if the economy were at full employment • So the full-employment deficit doesn’t change with the business ...
... – Because of automatic stabilizers, the government budget deficit rises in recessions and falls in booms • The full-employment deficit is a measure of what the government budget deficit would be if the economy were at full employment • So the full-employment deficit doesn’t change with the business ...
Beyond the numbers: The human cost of the crisis At a glance
... PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.p ...
... PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.p ...
The Distributional Consequences of Government Spending Santanu
... (i) Government spending on public capital leads to a gradual increase in wealth inequality, regardless of how it is financed. In contrast, the time paths of both pre- and post-tax income inequality are highly sensitive to the financing policy adopted, and in many cases are characterized by sharp in ...
... (i) Government spending on public capital leads to a gradual increase in wealth inequality, regardless of how it is financed. In contrast, the time paths of both pre- and post-tax income inequality are highly sensitive to the financing policy adopted, and in many cases are characterized by sharp in ...
PDF - Department of Economics
... unemployment. The conventional wisdom suggests that central bankers dismissed the so-called real bills doctrine, and developed an activist view of the central bank. In this view, the abandonment of the real bills doctrine allowed a more active control of money supply and credit. In contrast to that ...
... unemployment. The conventional wisdom suggests that central bankers dismissed the so-called real bills doctrine, and developed an activist view of the central bank. In this view, the abandonment of the real bills doctrine allowed a more active control of money supply and credit. In contrast to that ...