Chapter 1: Background Facts By James Piereson
... respect. The wealth data in particular were arrived at via some sophisticated statistical estimation. Governments collect income data because they tax income. They don’t collect data on wealth. For this reason, Piketty and his associates had to piece together the data on wealth using estimation tech ...
... respect. The wealth data in particular were arrived at via some sophisticated statistical estimation. Governments collect income data because they tax income. They don’t collect data on wealth. For this reason, Piketty and his associates had to piece together the data on wealth using estimation tech ...
GOVERNMENT SPENDING, INTEREST BATES, PRICES, AND
... there are no storable (investment) goods, then consumption (or leisure) must fall to match the increase in g, at date t,. Then consumption remains constant at this depressed level during the war. Since consumption is constant - although at a lower level than before - during the war, the real interes ...
... there are no storable (investment) goods, then consumption (or leisure) must fall to match the increase in g, at date t,. Then consumption remains constant at this depressed level during the war. Since consumption is constant - although at a lower level than before - during the war, the real interes ...
Top of Form AP MACROECONOMICS Course Syllabus
... All student rules as listed in the Student Handbook apply in this class. The list of clarifications for this class are as follows. Grades for unexcused absences, truancy, and suspension will be adjusted according to the Student Handbook. Where deference is given to the teacher 50% credit will be giv ...
... All student rules as listed in the Student Handbook apply in this class. The list of clarifications for this class are as follows. Grades for unexcused absences, truancy, and suspension will be adjusted according to the Student Handbook. Where deference is given to the teacher 50% credit will be giv ...
The influence of monetary on aggregate demand (short run)
... – Investment tax credit – John Maynard Keynes’s General Theory – Stimulate aggregate demand – Change incentives that people face – Can alter the aggregate supply of goods and services ...
... – Investment tax credit – John Maynard Keynes’s General Theory – Stimulate aggregate demand – Change incentives that people face – Can alter the aggregate supply of goods and services ...
Math Big Test
... The difference between the follows of income coming into the economy and those being paid abroad is known as net property income from abroad. Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; ...
... The difference between the follows of income coming into the economy and those being paid abroad is known as net property income from abroad. Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; ...
Publication in doc format - Irish Congress of Trade Unions
... potential unemployment was 16.5% in Ireland. 1 The government’s ‘jobs policy’ is a) to bail-out the private banks with taxpayers Euros; b) to deal with the public finances by slashing and burning; c) and make Ireland ‘more competitive’ - whatever that means, because they don’t appear to know themsel ...
... potential unemployment was 16.5% in Ireland. 1 The government’s ‘jobs policy’ is a) to bail-out the private banks with taxpayers Euros; b) to deal with the public finances by slashing and burning; c) and make Ireland ‘more competitive’ - whatever that means, because they don’t appear to know themsel ...
Fiscal and monetary coordination, Reserve Bank of New Zealand
... interest rate makes it more worth their while to leave their savings in the bank a little longer. ...
... interest rate makes it more worth their while to leave their savings in the bank a little longer. ...
Chapter 23
... households based, or are basing, their actions. Suppose that the price level had been P* for a long time before the unexpected oil price shock, so all contracts and labor supply decisions were based on the expectation that prices would remain at P*. The oil price shock takes the actual price level t ...
... households based, or are basing, their actions. Suppose that the price level had been P* for a long time before the unexpected oil price shock, so all contracts and labor supply decisions were based on the expectation that prices would remain at P*. The oil price shock takes the actual price level t ...
NBER WORKING PAPER SERIES MACROECONOMICS OF STAGFLATION UNDER FLEXIBLE EXCHANGE RATES
... exchange rate changes do not have much effect on the domestic economy. Modern open economy macroeconomics assumes in contrast that changes in export and import prices have significant effects on the domestic economy. In the extreme, the monetarist model assumes that all countries are "small countrie ...
... exchange rate changes do not have much effect on the domestic economy. Modern open economy macroeconomics assumes in contrast that changes in export and import prices have significant effects on the domestic economy. In the extreme, the monetarist model assumes that all countries are "small countrie ...
Chapter 15
... tightened. • However, most economists no longer think – if indeed they ever thought – that the Fed causes business cycles. It reacts to other factors that cause business cycles, namely an imbalance between the cost of capital and the MPK. The expansion invariably comes to an end when the former exce ...
... tightened. • However, most economists no longer think – if indeed they ever thought – that the Fed causes business cycles. It reacts to other factors that cause business cycles, namely an imbalance between the cost of capital and the MPK. The expansion invariably comes to an end when the former exce ...
Caribeanst
... it leaks out to foreigners. Foreign Owned Hotels, Some of the money will make it’s way back ...
... it leaks out to foreigners. Foreign Owned Hotels, Some of the money will make it’s way back ...
Macroeconomic Stabilization Policy
... not credible. …A credible disinflation plan initiated by the monetary authorities will bring down inflation more quickly and with less chance of recession than a plan with little credibility.” – “If the public is confident that appropriate policies are being followed, then households and businesses ...
... not credible. …A credible disinflation plan initiated by the monetary authorities will bring down inflation more quickly and with less chance of recession than a plan with little credibility.” – “If the public is confident that appropriate policies are being followed, then households and businesses ...
sq-macro-S`98
... 20. Demonstrate with a supply and demand graph the effect of a decline in the demand for the Thai baht. The declines in the demand for the East Asian currencies was caused by the loss of confidence in the East Asian economies. In general terms (as we discussed in class) why did foreigners lose confi ...
... 20. Demonstrate with a supply and demand graph the effect of a decline in the demand for the Thai baht. The declines in the demand for the East Asian currencies was caused by the loss of confidence in the East Asian economies. In general terms (as we discussed in class) why did foreigners lose confi ...
09-Elasticities
... Suppose a 10% rise in the price of a good causes a 20% reduction in the quantity demanded in a measured time period ε = -20%/+10% = -2 Suppose a 15% decline in the price of a good causes a 10% increase quantity demanded in a measured time period ε = +10%/-15% = -0.67 ...
... Suppose a 10% rise in the price of a good causes a 20% reduction in the quantity demanded in a measured time period ε = -20%/+10% = -2 Suppose a 15% decline in the price of a good causes a 10% increase quantity demanded in a measured time period ε = +10%/-15% = -0.67 ...
gross fixed capital formation
... (excluding public enterprises which we have included in the firms sector): – Not all income earned by the firms and the households is available for “private” consumption or saving. The government is taking its share by taxing firms and households. – On the other hand, the government is transferring ...
... (excluding public enterprises which we have included in the firms sector): – Not all income earned by the firms and the households is available for “private” consumption or saving. The government is taking its share by taxing firms and households. – On the other hand, the government is transferring ...
Finance and Economics Discussion Series Federal Reserve Board, Washington, D.C.
... disintermediation that used to choke off the supply of bank credit when interest rates were high. An important caveat, though, is that if households or firms are carrying a lot of debt under good economic conditions, they might be unable or unwilling to increase their indebtedness when conditions de ...
... disintermediation that used to choke off the supply of bank credit when interest rates were high. An important caveat, though, is that if households or firms are carrying a lot of debt under good economic conditions, they might be unable or unwilling to increase their indebtedness when conditions de ...
Solutions to Problems
... 1b. The significance of a slowdown in the rate of technological change is it slows down increases in the productivity of labour and capital with smaller consequent increases in longrun and short-run aggregate supply (smaller movement to the right the LAS and SAS curves). This is a movement along th ...
... 1b. The significance of a slowdown in the rate of technological change is it slows down increases in the productivity of labour and capital with smaller consequent increases in longrun and short-run aggregate supply (smaller movement to the right the LAS and SAS curves). This is a movement along th ...
SOLUTION EXAM 06/07/04
... 1. a) Disagree. If an increase in the price of butter leads, by demand law, to an increase in the quantity demanded of margarine that means that a fall in the demand of butter will provoke an increase in the demand of margarine, then margarine and butter are substitutes b) Agree. The marginal cost c ...
... 1. a) Disagree. If an increase in the price of butter leads, by demand law, to an increase in the quantity demanded of margarine that means that a fall in the demand of butter will provoke an increase in the demand of margarine, then margarine and butter are substitutes b) Agree. The marginal cost c ...
Country experiences – international The New Zealand Experience
... provided support to the economy. This stance continued until 2012, when the fiscal impulse turned contractionary as measures were introduced to restrain government expenditure growth. New Zealand’s planned fiscal adjustment will subtract from aggregate demand at a time when private sector and earthq ...
... provided support to the economy. This stance continued until 2012, when the fiscal impulse turned contractionary as measures were introduced to restrain government expenditure growth. New Zealand’s planned fiscal adjustment will subtract from aggregate demand at a time when private sector and earthq ...
Chapter 6 Check Your Understanding
... 2b) If you believed the economy was self-regulating, then you would advocate decreasing taxes in response to the slump. ...
... 2b) If you believed the economy was self-regulating, then you would advocate decreasing taxes in response to the slump. ...
The General Theory and Victoria Chick at 80: A Celebration
... Chick’s stages of banking development: the implications 1. “Intensifies the subordinate position of saving with regard to investment” (Chick 1986: 124) 2. Questions the convention of considering the transmission mechanism “as a purely theoretical matter, independently of institutional context” (Chi ...
... Chick’s stages of banking development: the implications 1. “Intensifies the subordinate position of saving with regard to investment” (Chick 1986: 124) 2. Questions the convention of considering the transmission mechanism “as a purely theoretical matter, independently of institutional context” (Chi ...
