Welfare Effects of Demand Management Policies: Impact Multipliers
... converted into domestic currency at a given exchange rate. In equilibrium, the model determines domestic output and factor prices so as to clear output and factor markets. For any given exogenous shock we can estimate impact multipliers by solving the model under each of three different factor suppl ...
... converted into domestic currency at a given exchange rate. In equilibrium, the model determines domestic output and factor prices so as to clear output and factor markets. For any given exogenous shock we can estimate impact multipliers by solving the model under each of three different factor suppl ...
pse-michael 221693 en
... Second, at least in the public finance literature of tax competition, little attention is paid to the relation between government behavior and actual commodity trade. Instead, it is implicitly assumed that there is an exchange between an aggregate consumption good and mobile capital. Wilson (1987), ...
... Second, at least in the public finance literature of tax competition, little attention is paid to the relation between government behavior and actual commodity trade. Instead, it is implicitly assumed that there is an exchange between an aggregate consumption good and mobile capital. Wilson (1987), ...
The High Sensitivity of Economic Activity to Financial Frictions
... and product prices. The wedge is not a driving force, though it would be a potent one if it varied spontaneously. Rather, the wedge is an endogenous variable that responds negatively to the level of output. One rationalization for this response is sticky product prices—an increase in factor prices t ...
... and product prices. The wedge is not a driving force, though it would be a potent one if it varied spontaneously. Rather, the wedge is an endogenous variable that responds negatively to the level of output. One rationalization for this response is sticky product prices—an increase in factor prices t ...
Policy brief RURAL ECMOD - agrilife
... Against this background, the RURAL ECMOD research project aims to improve understanding of the regional economy impacts of CAP policy instruments, and, in particular, the impacts associated with switch away from an agriculture-centred focus, to an approach aimed at the balanced and sustainable devel ...
... Against this background, the RURAL ECMOD research project aims to improve understanding of the regional economy impacts of CAP policy instruments, and, in particular, the impacts associated with switch away from an agriculture-centred focus, to an approach aimed at the balanced and sustainable devel ...
Liquidity Traps and the Stability of Money Demand: Is Japan Really
... ``quantitative easing’’ in 2001. Yet the economy exhibits no sign of strong recovery and prices are still gradually declining. All these observations seem consistent with the broad definition of liquidity traps. 1 Perhaps more controversial is whether the Japanese economy has already reached the low ...
... ``quantitative easing’’ in 2001. Yet the economy exhibits no sign of strong recovery and prices are still gradually declining. All these observations seem consistent with the broad definition of liquidity traps. 1 Perhaps more controversial is whether the Japanese economy has already reached the low ...
Macroeconomics Chamberlin and Yueh
... • In the short run, the goal of policy makers is to smooth out cyclical movements in the economy to avoid episodes of high unemployment or inflation. To this end, the government through its central position in the circular flow of income can use monetary and fiscal policies to influence the economy. ...
... • In the short run, the goal of policy makers is to smooth out cyclical movements in the economy to avoid episodes of high unemployment or inflation. To this end, the government through its central position in the circular flow of income can use monetary and fiscal policies to influence the economy. ...
NBER WORKING PAPER SERIES TAXPAYER BEHAVIOR AND THE Lawrence B. Lindsey
... though much more accomodative than during the 1982 tax ...
... though much more accomodative than during the 1982 tax ...
FINALTERM EXAMINATION ECO401- Economics (Session
... ► Endogenous growth theory assumes diminishing returns to capital and the Solow theory assumes constant returns. ► In endogenous growth theory, economies with the same technology and saving rate need not converge to the same steady state as in the Solow model. ► All of the given options are correct. ...
... ► Endogenous growth theory assumes diminishing returns to capital and the Solow theory assumes constant returns. ► In endogenous growth theory, economies with the same technology and saving rate need not converge to the same steady state as in the Solow model. ► All of the given options are correct. ...
Did New Deal Grant Programs Stimulate Local Economies? A Study
... sales in a number of ways. First, regional models show that an additional dollar in grants raises local income relatively more as the share of after-tax income spent on goods and services produced within the county rises. Second, the marginal grant expenditure will have a relatively smaller effect i ...
... sales in a number of ways. First, regional models show that an additional dollar in grants raises local income relatively more as the share of after-tax income spent on goods and services produced within the county rises. Second, the marginal grant expenditure will have a relatively smaller effect i ...
NBER WORKING PAPER SERIES "UNFUNDED LIABILITIES" AND UNCERTAIN FISCAL FINANCING Troy Davig
... hitting the limiting tax rate and inducing regime change, but the exact date of the change and the precise policies that will be adopted remain uncertain. When tax rates reach their limit, they remain fixed and one of two possible regimes is realized: either the government partially reneges on its pr ...
... hitting the limiting tax rate and inducing regime change, but the exact date of the change and the precise policies that will be adopted remain uncertain. When tax rates reach their limit, they remain fixed and one of two possible regimes is realized: either the government partially reneges on its pr ...
Chapter 4 - Dr. George Fahmy
... aggregate output. Nominal GDP is the market value of all-final goods and services produced in the domestic economy in a one-year period at current prices. By this definition, (I) only output exchanged in a market is included (do-it-yourself services such as cleaning your own room are not included); ...
... aggregate output. Nominal GDP is the market value of all-final goods and services produced in the domestic economy in a one-year period at current prices. By this definition, (I) only output exchanged in a market is included (do-it-yourself services such as cleaning your own room are not included); ...
the full text of the Speech
... inflation may differ depending on the source of the negative supply shock. In the case of an oil price shock, the impact on inflation is likely to be greater than other shocks. Aside from being an important input to the production process, oil is also a consumption good and hence its price feeds dir ...
... inflation may differ depending on the source of the negative supply shock. In the case of an oil price shock, the impact on inflation is likely to be greater than other shocks. Aside from being an important input to the production process, oil is also a consumption good and hence its price feeds dir ...
budget statement - Government of Bermuda
... Mr. Speaker, what does the election of Donald Trump mean for us here in Bermuda? The answer depends, perhaps, on whether we believe he will (or can) do all that he has said he will do. He has already reversed himself on a number of campaign promises, even before he became President. However, with th ...
... Mr. Speaker, what does the election of Donald Trump mean for us here in Bermuda? The answer depends, perhaps, on whether we believe he will (or can) do all that he has said he will do. He has already reversed himself on a number of campaign promises, even before he became President. However, with th ...
Government Consumption Expenditures and the Current Account
... bonds, insurance against country-specific shocks is incomplete. This implies that these shocks, even when temporary, produce permanent changes in the distribution of wealth across countries and in the levels of the other endogenous variables, thereby modifying the long-run equilibrium of the model e ...
... bonds, insurance against country-specific shocks is incomplete. This implies that these shocks, even when temporary, produce permanent changes in the distribution of wealth across countries and in the levels of the other endogenous variables, thereby modifying the long-run equilibrium of the model e ...
The Alberta GPI
... Albertans struggled to keep their households afloat against a growing debt and higher levels of total taxes (paid by persons), while their disposable income remained in the doldrums, thus eroding their capacity to save for things like retirement and their children’s needs. GPI accounting attempts to ...
... Albertans struggled to keep their households afloat against a growing debt and higher levels of total taxes (paid by persons), while their disposable income remained in the doldrums, thus eroding their capacity to save for things like retirement and their children’s needs. GPI accounting attempts to ...
Measuring Macroeconomic Activity
... In each of the following cases, determine how much GDP and each of its components is affected (if at all). A. Debbie spends $200 to buy her husband dinner at the finest restaurant in Boston. B. Sarah spends $1800 on a new laptop to use in her publishing business. The laptop was built in China. C. Ja ...
... In each of the following cases, determine how much GDP and each of its components is affected (if at all). A. Debbie spends $200 to buy her husband dinner at the finest restaurant in Boston. B. Sarah spends $1800 on a new laptop to use in her publishing business. The laptop was built in China. C. Ja ...
Budget and External Deficits: Not Twins but the Same Family an
... account deficit widens) because the boost to income sucks in more imports; see the lower left-hand box. In addition, the interest rate rises, which tends to appreciate the dollar; net imports increase more and some of the potential increase in the interest rate is ameliorated by an even larger inflo ...
... account deficit widens) because the boost to income sucks in more imports; see the lower left-hand box. In addition, the interest rate rises, which tends to appreciate the dollar; net imports increase more and some of the potential increase in the interest rate is ameliorated by an even larger inflo ...
THE CLINTON vs. TRUMP DEBATE ON
... What is the difference between movements along a demand or supply curve and shifts in a demand or supply curve? ................................................................... 48 ...
... What is the difference between movements along a demand or supply curve and shifts in a demand or supply curve? ................................................................... 48 ...
Capital Taxation and Entrepreneurial Activity
... wealth is far less diversified—close to half of entrepreneurs‘ total wealth resides in their business and complementary real estate (Gentry and Hubbard 2004, Cagetti and De Nardi 2006). Self-employment income is more correlated with the rate of return of stock markets than is wage income, partially ...
... wealth is far less diversified—close to half of entrepreneurs‘ total wealth resides in their business and complementary real estate (Gentry and Hubbard 2004, Cagetti and De Nardi 2006). Self-employment income is more correlated with the rate of return of stock markets than is wage income, partially ...
Have American Income Stabilizers Become More Effective in
... difficult with macro level data as it is not possible to distinguish between the effects of automatic stabilizers and active fiscal and monetary policy and behavioral responses, for example changes in the labor supply (Dolls et al, 2012). ...
... difficult with macro level data as it is not possible to distinguish between the effects of automatic stabilizers and active fiscal and monetary policy and behavioral responses, for example changes in the labor supply (Dolls et al, 2012). ...
central banking after the crisis
... shock hits the economy so a negative policy rate would be needed to stimulate the economy. This has become known as the zero-lower-bound problem. In this situation, central banks need to resort to other policy measures which have become known as nonconventional policy which involve either 1) managi ...
... shock hits the economy so a negative policy rate would be needed to stimulate the economy. This has become known as the zero-lower-bound problem. In this situation, central banks need to resort to other policy measures which have become known as nonconventional policy which involve either 1) managi ...
Does Neoclassical Theory Account for the Effects of Big Fiscal
... wages.3 We will therefore compare pre-tax real wages from our competitive model to actual pre-tax real wages to address this issue. Finally, there are questions about changes in the composition of output between consumption and investment during periods of large fiscal shocks. Blanchard and Perotti ...
... wages.3 We will therefore compare pre-tax real wages from our competitive model to actual pre-tax real wages to address this issue. Finally, there are questions about changes in the composition of output between consumption and investment during periods of large fiscal shocks. Blanchard and Perotti ...
PDF Download
... fifth part analyses politics of fiscal consolidations and the following section investigates into more detail periods of fiscal consolidations in NMSs. Seventh part concludes the paper by presenting some insights from the EUR-15 pre-euro adoption period. II. FISCAL POLICY’S MAIN PATTERNS IN THE NMSs ...
... fifth part analyses politics of fiscal consolidations and the following section investigates into more detail periods of fiscal consolidations in NMSs. Seventh part concludes the paper by presenting some insights from the EUR-15 pre-euro adoption period. II. FISCAL POLICY’S MAIN PATTERNS IN THE NMSs ...
The Development Centre - Secretariat for External Relations
... • Spending on education as a share of total public expenditure has been growing in Latin America (now stands at around 4%, similar to OECD level), but still there is room for improvement • Latin America’s PISA results give cause for concern: - OECD-Latin America testing gap equivalent to 3 years wor ...
... • Spending on education as a share of total public expenditure has been growing in Latin America (now stands at around 4%, similar to OECD level), but still there is room for improvement • Latin America’s PISA results give cause for concern: - OECD-Latin America testing gap equivalent to 3 years wor ...