Interpreting clause 4(b) of the Policy Targets Agreement:
... that would be needed to clamp down on inflation pressures within this short time frame would in all likelihood open up a large negative output gap over successive months. This policy-induced recession would then require interest rates to be eased, and aggressively so, if the imminent fall in inflation ...
... that would be needed to clamp down on inflation pressures within this short time frame would in all likelihood open up a large negative output gap over successive months. This policy-induced recession would then require interest rates to be eased, and aggressively so, if the imminent fall in inflation ...
PDF
... achieving these potential rates of food consumption were considered in other sections of the testimony given before the Agriculture Committee in connection with hearings on long-range agricultural policy. TWENTIETH CENTURY FUND STUDY. —The only set of data reviewed in this article which was not publ ...
... achieving these potential rates of food consumption were considered in other sections of the testimony given before the Agriculture Committee in connection with hearings on long-range agricultural policy. TWENTIETH CENTURY FUND STUDY. —The only set of data reviewed in this article which was not publ ...
Franz Seitz - OTH Amberg
... policy on the net worth or goodwill of business firms (balance sheet channel) or the reliance on bank loans and the lack of alternative financial resources, especially for small firms and households (bank lending channel). This tightens the credit constraint on some borrowers and limits their spendi ...
... policy on the net worth or goodwill of business firms (balance sheet channel) or the reliance on bank loans and the lack of alternative financial resources, especially for small firms and households (bank lending channel). This tightens the credit constraint on some borrowers and limits their spendi ...
Can Great Depression Theories Explain the Great Recession?
... Can Great Depression Theories explain the Great Recession? 2 Kirchgässner, 2009, p. 1), they will not be able to predict the upturn. So is economics useless? Surely not, if we understand economics as interpreting the past in order to let bad history not repeat. Consequently in an economic crisis ec ...
... Can Great Depression Theories explain the Great Recession? 2 Kirchgässner, 2009, p. 1), they will not be able to predict the upturn. So is economics useless? Surely not, if we understand economics as interpreting the past in order to let bad history not repeat. Consequently in an economic crisis ec ...
A Simulation of Counter-cyclical Intervention
... empirical macroeconomics literature relevant to both fiscal and monetary policy. As such, this work should be viewed as a complement to, not a substitute for, Lengwiler’s simulation. A SIMPLE MODEL OF GOVERNMENT INTERVENTION It is impossible to understand the challenges and potential benefits associ ...
... empirical macroeconomics literature relevant to both fiscal and monetary policy. As such, this work should be viewed as a complement to, not a substitute for, Lengwiler’s simulation. A SIMPLE MODEL OF GOVERNMENT INTERVENTION It is impossible to understand the challenges and potential benefits associ ...
Decentralization and Sub-National Economics Thematic Group
... government can be used to assess aspects of fiscal decentralization across countries, regions, and time. Fiscal decentralization encompasses expenditure and financing dimensions. To understand who does what, the amount of subnational government spending relative to the central government (e.g., rela ...
... government can be used to assess aspects of fiscal decentralization across countries, regions, and time. Fiscal decentralization encompasses expenditure and financing dimensions. To understand who does what, the amount of subnational government spending relative to the central government (e.g., rela ...
An Explanation of the Greek Crisis: “The Insiders – Outsiders Society”
... combined effects of low total factor productivity growth and lower capital formation. The lower output feeds back to the public deficit via automatic stabilizers-type effects. The accumulation of public deficits in combination with the relatively low growth increases the public debt-to-GDP ratio to ...
... combined effects of low total factor productivity growth and lower capital formation. The lower output feeds back to the public deficit via automatic stabilizers-type effects. The accumulation of public deficits in combination with the relatively low growth increases the public debt-to-GDP ratio to ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... revenue of about 11% of GDP would have to rise by between 70% and 100% to bring in that extra revenue.7 While it is possible to imagine raising the 15% rate to 25% or even the 28% rate to 48%, it would not be possible to raise the 35% corporate tax rate to 60% or the top personal rate of nearly 40% ...
... revenue of about 11% of GDP would have to rise by between 70% and 100% to bring in that extra revenue.7 While it is possible to imagine raising the 15% rate to 25% or even the 28% rate to 48%, it would not be possible to raise the 35% corporate tax rate to 60% or the top personal rate of nearly 40% ...
New Hampshire Economic Outlook
... years. Kluber Lubrication North America Limited Partnership, a subsidiary of Freudenberg Chemical Specialties, provides seals and vibration control technology components, filters, nonwovens, release agents and lubricants for a variety of industrial sectors. The parent company also has facilities in ...
... years. Kluber Lubrication North America Limited Partnership, a subsidiary of Freudenberg Chemical Specialties, provides seals and vibration control technology components, filters, nonwovens, release agents and lubricants for a variety of industrial sectors. The parent company also has facilities in ...
S2009519_en.pdf
... The region is facing a crisis whose depth and scope are comparable solely to that of the 1930s. Moreover, both episodes have several points in common: both crises began in the United States financial system and from there spread outward to other countries and sectors; both started when a bubble of a ...
... The region is facing a crisis whose depth and scope are comparable solely to that of the 1930s. Moreover, both episodes have several points in common: both crises began in the United States financial system and from there spread outward to other countries and sectors; both started when a bubble of a ...
The Working-Day Effect in the Austrian Economy
... In order to answer the important question as to the economy's phase in the business cycle, it is necessary to isolate seasonal as well as calendar effects − to which working days belong − from the rest of the series. The simplest method of eliminating the effect of a variation in the number of worki ...
... In order to answer the important question as to the economy's phase in the business cycle, it is necessary to isolate seasonal as well as calendar effects − to which working days belong − from the rest of the series. The simplest method of eliminating the effect of a variation in the number of worki ...
Trade Liberalization Impacts on Disparity of Income Distribution in Rural China
... has the significant influence to the countryside income disparity. China has reduced the trade protective measures largely, and the average customs tariff dropped from 52.3% to 10.4% in 2004. Moreover, with China taking part in WTO, the nominal protection ratio further dropped, which causes the dome ...
... has the significant influence to the countryside income disparity. China has reduced the trade protective measures largely, and the average customs tariff dropped from 52.3% to 10.4% in 2004. Moreover, with China taking part in WTO, the nominal protection ratio further dropped, which causes the dome ...
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... public expenditures, but there are also cases where a specific subset of expenditures is addressed, for example primary expenditures in Belgium, Ireland and Italy, public consumption in Denmark, compensation of public employees in Greece. In Austria and Italy two and three targets, respectively, are ...
... public expenditures, but there are also cases where a specific subset of expenditures is addressed, for example primary expenditures in Belgium, Ireland and Italy, public consumption in Denmark, compensation of public employees in Greece. In Austria and Italy two and three targets, respectively, are ...
The euro area fiscal stance - ECB
... while allowing budgetary room for manoeuvre. Adjustments required to meet the MTO are defined in structural terms (i.e. net of the impact of the cycle and one-off measures) and therefore generally allow the full operation of automatic stabilisers. These should be sufficient to deal with normal cycli ...
... while allowing budgetary room for manoeuvre. Adjustments required to meet the MTO are defined in structural terms (i.e. net of the impact of the cycle and one-off measures) and therefore generally allow the full operation of automatic stabilisers. These should be sufficient to deal with normal cycli ...
Optimal Automatic Stabilizers
... aggregate slack is more responsive to the replacement rate for two reasons. First, there are more unemployed workers with high marginal propensities to consume receiving the transfers. Second, the effect of social insurance on precautionary savings motives is larger when there is a greater risk of u ...
... aggregate slack is more responsive to the replacement rate for two reasons. First, there are more unemployed workers with high marginal propensities to consume receiving the transfers. Second, the effect of social insurance on precautionary savings motives is larger when there is a greater risk of u ...
1 Greece`s 2013 Draft Budget: Key Targets and
... fiscal impact) will be implemented next year, with the bulk of these measures coming from the expenditure side (Table 1.2). As we alluded to earlier on, this breakdown should be considered as preliminary and subject to revisions, not only because the troika has yet to give its final approval to t ...
... fiscal impact) will be implemented next year, with the bulk of these measures coming from the expenditure side (Table 1.2). As we alluded to earlier on, this breakdown should be considered as preliminary and subject to revisions, not only because the troika has yet to give its final approval to t ...
Deputy Minister of Finance speech
... But it is not merely Government and the financial sector industry which need to recognise the importance of increasing domestic saving. Individuals themselves need to take responsibility for planning their own future. This means empowering oneself with financial knowledge and demanding explanations ...
... But it is not merely Government and the financial sector industry which need to recognise the importance of increasing domestic saving. Individuals themselves need to take responsibility for planning their own future. This means empowering oneself with financial knowledge and demanding explanations ...
An Aggregative Theory for a Closed Economy
... fall in response to open market purchases and tax increases. Open market operations induce larger changes in the price level than tax changes that transfer securities of equal value, but the effects on real balances are identical. Open market purchases raise the equilibrium price level; open market ...
... fall in response to open market purchases and tax increases. Open market operations induce larger changes in the price level than tax changes that transfer securities of equal value, but the effects on real balances are identical. Open market purchases raise the equilibrium price level; open market ...
NBER WORKING PAPER SERIES WINNERS AND LOSERS OF TAX COMPETITION
... externalities of tax policy separately, studying them in simplified dynamic environments under partial equilibrium and with governments running balanced budgets in every period. Second, most of the literature is theoretical in nature and there have been few attempts to study the quantitative implica ...
... externalities of tax policy separately, studying them in simplified dynamic environments under partial equilibrium and with governments running balanced budgets in every period. Second, most of the literature is theoretical in nature and there have been few attempts to study the quantitative implica ...
A-level Economics Mark Scheme Unit 02 - The
... Marks awarded to candidates should be in accordance with the following mark scheme and examiners should be prepared to use the full range of marks available. The mark scheme for most questions is flexible, permitting the candidate to score full marks in a variety of ways. Where the candidate’s respo ...
... Marks awarded to candidates should be in accordance with the following mark scheme and examiners should be prepared to use the full range of marks available. The mark scheme for most questions is flexible, permitting the candidate to score full marks in a variety of ways. Where the candidate’s respo ...
Reports - UM Personal World Wide Web Server
... estimates that absent gold sterilization, the 1937 monetary base would have been as much as 10 percent larger. However, the channel through which money supply declines affected real activity is unclear. There was relatively little impact on interest rates. Figure 1(b) shows the path of the yield on ...
... estimates that absent gold sterilization, the 1937 monetary base would have been as much as 10 percent larger. However, the channel through which money supply declines affected real activity is unclear. There was relatively little impact on interest rates. Figure 1(b) shows the path of the yield on ...
Chapter 13 - the School of Economics and Finance
... Monetary policy (MP): The actions the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives. Fiscal policy (FP): Changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. Gov uses monetary and …scal po ...
... Monetary policy (MP): The actions the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives. Fiscal policy (FP): Changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. Gov uses monetary and …scal po ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... the tax rate could cause tax revenues to fall. Similarly, under the same circumstances, a cut in the tax rate could generate enough additional economic activity to cause revenues to rise. ...
... the tax rate could cause tax revenues to fall. Similarly, under the same circumstances, a cut in the tax rate could generate enough additional economic activity to cause revenues to rise. ...
AD and AS honors version
... When aggregate demand falls, output and the price level fall in the short run. Over time, a change in expectations causes wages, prices, and perceptions to adjust, and the short-run aggregate supply curve shifts rightward. In the long run, the economy returns to the natural rates of output and une ...
... When aggregate demand falls, output and the price level fall in the short run. Over time, a change in expectations causes wages, prices, and perceptions to adjust, and the short-run aggregate supply curve shifts rightward. In the long run, the economy returns to the natural rates of output and une ...