Pre-revolutionary Iranian Economic Policy Making: An Optimal Control Based Assessment Looney, R.E.
... capital goods industry, the country required a certain minimal amount of imports just to maintain a given level of income. The change in wholesale prices obviously indicates a shift away from domestic producers to cheaper foreign suppliers (of nonmachinery goods) as local price increase. The limited ...
... capital goods industry, the country required a certain minimal amount of imports just to maintain a given level of income. The change in wholesale prices obviously indicates a shift away from domestic producers to cheaper foreign suppliers (of nonmachinery goods) as local price increase. The limited ...
Costa Rica: countercyclical fiscal policy with tight monetary policy
... then. 2 And it was then that the International Monetary Fund (IMF) started advocating the need to use fiscal stimulus to put the world economy back in business. 3 However, this stimulus was not to be applied by all economies: only those with “strong fundamentals” were supposed to be able to make use ...
... then. 2 And it was then that the International Monetary Fund (IMF) started advocating the need to use fiscal stimulus to put the world economy back in business. 3 However, this stimulus was not to be applied by all economies: only those with “strong fundamentals” were supposed to be able to make use ...
The Business Cycle - Oxford College of London
... Businesses are unenthusiastic about taking risk for investment. They are unwilling to take on new employees unless they are sure, so unemployment is still high. Lack of business confidence persists. Output can increase sharply as long as there is spare capacity. Businesses use their under-utilised c ...
... Businesses are unenthusiastic about taking risk for investment. They are unwilling to take on new employees unless they are sure, so unemployment is still high. Lack of business confidence persists. Output can increase sharply as long as there is spare capacity. Businesses use their under-utilised c ...
Expansionary Effects of the Welfare State in a Small Open Economy
... between welfare state and globalisation which, despite its colossal policy importance, is still fairly unexplored at the theoretical level. In the last two decades, welfare state policies have come increasingly under attack by an emerging consensus that sees them as being inimical to economic growth ...
... between welfare state and globalisation which, despite its colossal policy importance, is still fairly unexplored at the theoretical level. In the last two decades, welfare state policies have come increasingly under attack by an emerging consensus that sees them as being inimical to economic growth ...
NIPA Accounts and Econometric Intro
... Macroecomics Core Ideas The central bank controls nominal short interest rates, but the real long-term rate impacts aggregate demand and is in part based on expectations of inflation. Expectations of the future play a key role in how economic agents behave. Changes in monetary policy impact both ou ...
... Macroecomics Core Ideas The central bank controls nominal short interest rates, but the real long-term rate impacts aggregate demand and is in part based on expectations of inflation. Expectations of the future play a key role in how economic agents behave. Changes in monetary policy impact both ou ...
Fiscal policy and trends
... do so would mean that a higher proportion of public expenditure would go to service interest payments at the expense of social and economic priorities, or that government would have to raise taxes to meet rising interest costs. Slower growth in expenditure and a recovery in tax revenue due to higher ...
... do so would mean that a higher proportion of public expenditure would go to service interest payments at the expense of social and economic priorities, or that government would have to raise taxes to meet rising interest costs. Slower growth in expenditure and a recovery in tax revenue due to higher ...
x 2
... isolated the change in demand due only to the change in relative prices by asking “What is the change in demand when the consumer’s income is adjusted so that, at the new prices, she can only just buy the original bundle?” ...
... isolated the change in demand due only to the change in relative prices by asking “What is the change in demand when the consumer’s income is adjusted so that, at the new prices, she can only just buy the original bundle?” ...
Tier 1 - Economic Society of Singapore
... The Q2 Impact from SARS… Verily I say unto you; where art thou, my patrons? ...
... The Q2 Impact from SARS… Verily I say unto you; where art thou, my patrons? ...
Chapter 8 8 Slutsky Equation
... Consumer s budget is $y Consumer’s $y. Lower price for commodity 1 pivots the constraint outwards outwards. Now only $y’ are needed to buy the original bundle at the new prices, prices as if the consumer’s income has increased by $y - $y $y’. ...
... Consumer s budget is $y Consumer’s $y. Lower price for commodity 1 pivots the constraint outwards outwards. Now only $y’ are needed to buy the original bundle at the new prices, prices as if the consumer’s income has increased by $y - $y $y’. ...
NBER WORKING PAPER SERIES Robert E. Hall Working Paper 15496
... policy lowers nominal interest rates to their minimum values of zero, the offsetting effect disappears, so an economy at the lower bound has higher multipliers. In an economy with an output multiplier of just under one in normal times, the multiplier rises to 1.7 when monetary policy becomes passive ...
... policy lowers nominal interest rates to their minimum values of zero, the offsetting effect disappears, so an economy at the lower bound has higher multipliers. In an economy with an output multiplier of just under one in normal times, the multiplier rises to 1.7 when monetary policy becomes passive ...
Chapter 16 PowerPoint (2)
... Economists and government officials describe a healthy economy as one that has these characteristics: expanding gross domestic product (GDP); low unemployment rate; low inflation rate. Other measures of economic health focus on the general well-being of the people by accounting for factors such as r ...
... Economists and government officials describe a healthy economy as one that has these characteristics: expanding gross domestic product (GDP); low unemployment rate; low inflation rate. Other measures of economic health focus on the general well-being of the people by accounting for factors such as r ...
Recent economic developments
... Since 2001, when the previous Review of the United States took place, a number of shocks have affected the U.S. economy, including a sharp fall in stock prices, several corporate scandals and failures, the 11 September terrorist attack, and wars in Afghanistan and Iraq. The economy also underwent a ...
... Since 2001, when the previous Review of the United States took place, a number of shocks have affected the U.S. economy, including a sharp fall in stock prices, several corporate scandals and failures, the 11 September terrorist attack, and wars in Afghanistan and Iraq. The economy also underwent a ...
AUBG ECO 302 A F I N A L E X A M
... 8) Suppose your company is in equilibrium, with its capital stock at its desired level. A permanent decline in the expected real interest rate now has what effect on your desired capital stock? A) Lowers it, because the user cost of capital is now higher B) Lowers it, because the future marginal pro ...
... 8) Suppose your company is in equilibrium, with its capital stock at its desired level. A permanent decline in the expected real interest rate now has what effect on your desired capital stock? A) Lowers it, because the user cost of capital is now higher B) Lowers it, because the future marginal pro ...
Questions
... countries, and country A saves 10 percent of output whereas country B saves 20 percent. If A starts out with a capital-labour ratio of 4 and B starts out with a capital-labour ratio of 2, in the long run: A) both A and B will have capital-labour ratios of 4. B) both A and B will have capital-labour ...
... countries, and country A saves 10 percent of output whereas country B saves 20 percent. If A starts out with a capital-labour ratio of 4 and B starts out with a capital-labour ratio of 2, in the long run: A) both A and B will have capital-labour ratios of 4. B) both A and B will have capital-labour ...
Reinventing fiscal policy
... that with a higher government deficit, increases in income and investment occur, as well as the economy's saving, rather than reduced investment. Consequently, expansionary fiscal policy will boost savings since it raises income and investment, rather than reduce savings (see also Gordon 1994). In t ...
... that with a higher government deficit, increases in income and investment occur, as well as the economy's saving, rather than reduced investment. Consequently, expansionary fiscal policy will boost savings since it raises income and investment, rather than reduce savings (see also Gordon 1994). In t ...
19503_unit-ii - WordPress.com
... securities to public and restrain their disposable income Selective credit control: selective credit control (SCC) on advances by banks against the mortgage of sensitive commodities such as rice, wheat, oilseeds, etc. It is out of fashion now. ...
... securities to public and restrain their disposable income Selective credit control: selective credit control (SCC) on advances by banks against the mortgage of sensitive commodities such as rice, wheat, oilseeds, etc. It is out of fashion now. ...
Document
... – If EU policy stance must have authority over partial national preferences, it requires a vote reflecting all European citizens – European Parliament should vote macroeconomic framework law: BEPG – Democratic debates will transform collective preferences Josef Christl: “dialogue will help bridge ...
... – If EU policy stance must have authority over partial national preferences, it requires a vote reflecting all European citizens – European Parliament should vote macroeconomic framework law: BEPG – Democratic debates will transform collective preferences Josef Christl: “dialogue will help bridge ...
US Government: Principles in Practice
... • Each year government takes in amount of money equal to about 20 percent of gross domestic product • Government also spends and borrows similar amount • Increasing taxes, increasing government spending, and borrowing money can cause economy to shift • Government spending and borrowing have huge eff ...
... • Each year government takes in amount of money equal to about 20 percent of gross domestic product • Government also spends and borrows similar amount • Increasing taxes, increasing government spending, and borrowing money can cause economy to shift • Government spending and borrowing have huge eff ...
increase in short-run aggregate supply
... Example: The Great Depression of the 1930s • Consumption collapsed, taxes went up and government spending was cut (to balance budget), trade wars reduced exports • GDP fell by 27%, unemployment reached 24%, price levels fell by 25% ...
... Example: The Great Depression of the 1930s • Consumption collapsed, taxes went up and government spending was cut (to balance budget), trade wars reduced exports • GDP fell by 27%, unemployment reached 24%, price levels fell by 25% ...
Sample
... is not intended to be a measure of social well-being and thus the exclusion of environmental degradation from the official statistics is not considered a flaw in GDP. However, if GDP is intended to measure the total production of all goods and services in an economy, the exclusion of household produ ...
... is not intended to be a measure of social well-being and thus the exclusion of environmental degradation from the official statistics is not considered a flaw in GDP. However, if GDP is intended to measure the total production of all goods and services in an economy, the exclusion of household produ ...
Chapter 15
... policy effects, there will be no effect on real variables such as real GDP and unemployment. Only if people are fooled by the policy will it be effective. Real business cycle theorists argue that business cycles are caused by technology shocks that shift aggregate supply. We cannot use demand-orient ...
... policy effects, there will be no effect on real variables such as real GDP and unemployment. Only if people are fooled by the policy will it be effective. Real business cycle theorists argue that business cycles are caused by technology shocks that shift aggregate supply. We cannot use demand-orient ...
Chapter 15
... a. The inclusion of intermediate goods and services in GDP calculations would underestimate our nation’s production level. b. The expenditures approach sums the compensation of employees, rents, profits, net interest, and non-income expenses for depreciation and indirect business taxes. c. Real GDP ...
... a. The inclusion of intermediate goods and services in GDP calculations would underestimate our nation’s production level. b. The expenditures approach sums the compensation of employees, rents, profits, net interest, and non-income expenses for depreciation and indirect business taxes. c. Real GDP ...
Chapter 15
... a. The inclusion of intermediate goods and services in GDP calculations would underestimate our nation’s production level. b. The expenditures approach sums the compensation of employees, rents, profits, net interest, and non-income expenses for depreciation and indirect business taxes. c. Real GDP ...
... a. The inclusion of intermediate goods and services in GDP calculations would underestimate our nation’s production level. b. The expenditures approach sums the compensation of employees, rents, profits, net interest, and non-income expenses for depreciation and indirect business taxes. c. Real GDP ...
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... capital markets were no longer willing to finance these current account deficits and, in some cases, private capital flows even reversed. The reluctance of private capital markets to provide further financing caused the credit-driven bubble to burst and exposed balance-of-payments imbalances within ...
... capital markets were no longer willing to finance these current account deficits and, in some cases, private capital flows even reversed. The reluctance of private capital markets to provide further financing caused the credit-driven bubble to burst and exposed balance-of-payments imbalances within ...