The US Economy: Explaining Stagnation and Why It Will Persist1
... finance to fill the demand gap by lending to consumers and by spurring asset price inflation. Financialization assisted with this process by changing credit market practices and introducing new credit instruments that made credit more easily and widely available to corporations and households. U.S. ...
... finance to fill the demand gap by lending to consumers and by spurring asset price inflation. Financialization assisted with this process by changing credit market practices and introducing new credit instruments that made credit more easily and widely available to corporations and households. U.S. ...
Romer, Christina D., (2008), Business Cycles, The concise
... Just as there is no regularity in the timing of business cycles, there is no reason why cycles have to occur at all. The prevailing view among economists is that there is a level of economic activity, often referred to as full employment, at which the economy could stay forever. Full employment refe ...
... Just as there is no regularity in the timing of business cycles, there is no reason why cycles have to occur at all. The prevailing view among economists is that there is a level of economic activity, often referred to as full employment, at which the economy could stay forever. Full employment refe ...
Interest Rates
... This is one theory of what happens. 2.2 OMOs to interest rates to deposits Another is that OMOs directly influence the interest rate, by affecting the interest rate at the very short end of the yield curve: the “cash” rate. This is the basic block of the yield curve (a plot of interest rates against ...
... This is one theory of what happens. 2.2 OMOs to interest rates to deposits Another is that OMOs directly influence the interest rate, by affecting the interest rate at the very short end of the yield curve: the “cash” rate. This is the basic block of the yield curve (a plot of interest rates against ...
Team #119 M Challenge Fourth Place: Meritorious Team Prize of
... implosions, deflation, and enormous increases in unemployment, President Obama and the Democratic-controlled Congress introduced sweeping legislation aimed at strengthening the job market. Warning that inaction would lead to an economic downturn comparable to the Great Depression, the White House pu ...
... implosions, deflation, and enormous increases in unemployment, President Obama and the Democratic-controlled Congress introduced sweeping legislation aimed at strengthening the job market. Warning that inaction would lead to an economic downturn comparable to the Great Depression, the White House pu ...
Introduction -- Growth, Convergence and Income Distribution
... • Clearly one has to clearly define what one means by inequality. ...
... • Clearly one has to clearly define what one means by inequality. ...
visible inequality leads to violent crime
... ‘Worse yet, because as research has shown, relative status affects people’s happiness, it might also encourage them to become disenfranchised or angry with society.’ The analysis examines the relationship between social inequality and criminal activity. When there is inequality in socio-economic st ...
... ‘Worse yet, because as research has shown, relative status affects people’s happiness, it might also encourage them to become disenfranchised or angry with society.’ The analysis examines the relationship between social inequality and criminal activity. When there is inequality in socio-economic st ...
fiscal reforms from 2001 to 2005
... • Gross wages (net) taxation system was introduced with personal income tax rate of 14% (in 2001) • A unique minimal basis for contributions was introduced - 40% of gross wage (previously 7 basis) from previous quarter (in 2004) • Payroll tax by employer of 3.5% was abolished (in 2004) • Contributio ...
... • Gross wages (net) taxation system was introduced with personal income tax rate of 14% (in 2001) • A unique minimal basis for contributions was introduced - 40% of gross wage (previously 7 basis) from previous quarter (in 2004) • Payroll tax by employer of 3.5% was abolished (in 2004) • Contributio ...
The impact of the action of public power on economic development
... a priority. International organizations and governments in many developing countries have decided to make education and health of global public goods whose development and increasing need of international mobilization. In total, in many countries, education is the largest budget item of public expen ...
... a priority. International organizations and governments in many developing countries have decided to make education and health of global public goods whose development and increasing need of international mobilization. In total, in many countries, education is the largest budget item of public expen ...
Economics for Today 2nd edition Irvin B. Tucker
... 11. If the nominal rate of interest is less than the inflation rate, a. lenders win. b. savers win. c. the real interest rate is negative. d. the economy is at full employment. C. The real rate of interest is negative because the lender is receiving less money back, in real terms, than was lent out ...
... 11. If the nominal rate of interest is less than the inflation rate, a. lenders win. b. savers win. c. the real interest rate is negative. d. the economy is at full employment. C. The real rate of interest is negative because the lender is receiving less money back, in real terms, than was lent out ...
Government Spending Multipliers under the Zero
... in government spending by one percent of GDP, during the periods when nominal interest rates are at the zero lower bound? The recent global financial crisis, which forced the central banks in many developed countries to reduce their short-term nominal interest rates close to the zero bound, brought ...
... in government spending by one percent of GDP, during the periods when nominal interest rates are at the zero lower bound? The recent global financial crisis, which forced the central banks in many developed countries to reduce their short-term nominal interest rates close to the zero bound, brought ...
The Economic Consequences of German Unification
... period and resulted in an overall budget deficit of DM 85 billion in 1991. Three main factors affected the budget: reduced revenues as a result of the final stage of the income tax reform that came into effect in 1990, net fiscal transfers attributable to unification, and increased revenues related ...
... period and resulted in an overall budget deficit of DM 85 billion in 1991. Three main factors affected the budget: reduced revenues as a result of the final stage of the income tax reform that came into effect in 1990, net fiscal transfers attributable to unification, and increased revenues related ...
NBER WORKING PAPER SERIES AN EMPIRICAL CHARACTERIZATION OF THE DYNAMIC EFFECTS OF
... differ from the annual elasticities because of tax collection lags. In the United States, collection lags are probably relevant only for corporate income taxes (see the Appendix). A more important source of divergence is the difference in the quarterly and annual elasticities of the tax bases with r ...
... differ from the annual elasticities because of tax collection lags. In the United States, collection lags are probably relevant only for corporate income taxes (see the Appendix). A more important source of divergence is the difference in the quarterly and annual elasticities of the tax bases with r ...
business cycle - The Good, the Bad and the Economist
... pressure. In general, the period is one of low consumption, low investment and also low imports which will be affected by the fall in both consumption and investment. Lower government tax revenues coupled with high transfer payments (unemployment and social benefits for example) often lead to budget ...
... pressure. In general, the period is one of low consumption, low investment and also low imports which will be affected by the fall in both consumption and investment. Lower government tax revenues coupled with high transfer payments (unemployment and social benefits for example) often lead to budget ...
The curious case of Greece: The impact of fiscal policy shocks on
... many ways emulate the United States of America. In his vision, Europe was to become, in the long term, a sustainable and strong federation that would have a common fiscal policy, along with the common currency with a super central bank that would in many ways resemble the Federal Reserve. Monetary u ...
... many ways emulate the United States of America. In his vision, Europe was to become, in the long term, a sustainable and strong federation that would have a common fiscal policy, along with the common currency with a super central bank that would in many ways resemble the Federal Reserve. Monetary u ...
PDF
... seems clear that these could not have been prevented without much more direct control over unsound financial innovations. That’s a task where interaction between governments and central banks appears unavoidable. On the one hand, expertise is crucial. On the other hand, as with war, financial innova ...
... seems clear that these could not have been prevented without much more direct control over unsound financial innovations. That’s a task where interaction between governments and central banks appears unavoidable. On the one hand, expertise is crucial. On the other hand, as with war, financial innova ...
Equatorial Guinea - African Economic Outlook
... Equatorial Guinea's economy shrank in 2010 but 2011 saw growth of 7%. This upturn was sustained by renewed activity in the oil sector and public investment. Growth is expected to drop back to 4% in 2012 but gradually pick up again to 6.6% in 2013. These outcomes will depend on the world price of oil ...
... Equatorial Guinea's economy shrank in 2010 but 2011 saw growth of 7%. This upturn was sustained by renewed activity in the oil sector and public investment. Growth is expected to drop back to 4% in 2012 but gradually pick up again to 6.6% in 2013. These outcomes will depend on the world price of oil ...
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... The principle of annuality for ‘supply’ (resource provision) is explicit in law Specific provision for expenditure is only for a specified financial year only The principle of universality – all revenues and expenditures are included in budget-related documents – is not embedded in legislation in th ...
... The principle of annuality for ‘supply’ (resource provision) is explicit in law Specific provision for expenditure is only for a specified financial year only The principle of universality – all revenues and expenditures are included in budget-related documents – is not embedded in legislation in th ...
Ch 18 PDF
... Bush appeared to be presiding over an almost unprecedented economic boom. For fifty-two straight months, the number of jobs available in the United States grew, and unemployment averaged only 5.2 percent. National debt— except for that incurred by the Iraq War— was relatively low, and the gross dome ...
... Bush appeared to be presiding over an almost unprecedented economic boom. For fifty-two straight months, the number of jobs available in the United States grew, and unemployment averaged only 5.2 percent. National debt— except for that incurred by the Iraq War— was relatively low, and the gross dome ...
ECON-205: Principles of Macroeconomics (Classroom)
... student’s comprehension and application of economic concepts. While there is some new vocabulary to master, the emphasis of the course is on analytical thinking and conceptual understanding. The exam format will be a combination of multiple choice and fill in the blank. Grades will be based on the f ...
... student’s comprehension and application of economic concepts. While there is some new vocabulary to master, the emphasis of the course is on analytical thinking and conceptual understanding. The exam format will be a combination of multiple choice and fill in the blank. Grades will be based on the f ...
GST—Yes or No
... structural unemp, recession threat, higher welfare spending, thus implying that Govt expects GST going up in the future. • UK’s GST is 17.5%, up from 3% in 19??. • Govt should give a simulation exercise. E.g. if HK economy declines for 5% for 3 years, how much GST would be increased? ...
... structural unemp, recession threat, higher welfare spending, thus implying that Govt expects GST going up in the future. • UK’s GST is 17.5%, up from 3% in 19??. • Govt should give a simulation exercise. E.g. if HK economy declines for 5% for 3 years, how much GST would be increased? ...
A Nation in Debt - Weldon Cooper Center for Public Service
... Development, we would save less than $300 billion, but the annual deficit is about $1.1 trillion. How much is a trillion? A million seconds is 11 1/2 days. ...
... Development, we would save less than $300 billion, but the annual deficit is about $1.1 trillion. How much is a trillion? A million seconds is 11 1/2 days. ...
OCR AS Economics Unit F582
... 14 The concept of the multiplier refers to the fact that an injection into the circular flow of income of an economy may produce an increase in national income that is greater than the initial injection. For example, if the injection is £1 billion, but the effect of this injection is an increase in ...
... 14 The concept of the multiplier refers to the fact that an injection into the circular flow of income of an economy may produce an increase in national income that is greater than the initial injection. For example, if the injection is £1 billion, but the effect of this injection is an increase in ...