A Theory of Macroprudential Policies in the Presence of Nominal Rigidities
... the world there is a sub-equilibrium in goods and labor markets affected by nominal rigidities. One can define wedges that measure the departure of these allocations from the first best outcome. In simple cases, a positive wedge for a particular good indicates the underprovision of this good. Our fo ...
... the world there is a sub-equilibrium in goods and labor markets affected by nominal rigidities. One can define wedges that measure the departure of these allocations from the first best outcome. In simple cases, a positive wedge for a particular good indicates the underprovision of this good. Our fo ...
chapter summary
... permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
Chapter 31 MONETARY POLICY AND THE NATIONAL ECONOMY
... America’s Central Bank: The Federal Reserve System ● Central Bank Independence ♦ In some other countries, the central banks are less independent. ♦ Countries without independent central banks often have less stable economies. ...
... America’s Central Bank: The Federal Reserve System ● Central Bank Independence ♦ In some other countries, the central banks are less independent. ♦ Countries without independent central banks often have less stable economies. ...
Policies for a revitalisation of Japan
... Broadening the direct tax base while reducing rates Personal income tax revenues are especially low in Japan and revenues from social security contributions are much lower than in continental European countries. As a result, the tax wedge on labour income for workers earning the average wage was est ...
... Broadening the direct tax base while reducing rates Personal income tax revenues are especially low in Japan and revenues from social security contributions are much lower than in continental European countries. As a result, the tax wedge on labour income for workers earning the average wage was est ...
Fiscal Sustainability and the Role of the State: A New Analytical
... 2. The Concept of Fiscal Sustainability and Budget Constraint In literature, the ability of government to manage budget deficits and debt accumulation has been receiving a growing attention since equilibrium growth paths of the economy need to be supported by adequate fiscal policy (Afonso 2004). Th ...
... 2. The Concept of Fiscal Sustainability and Budget Constraint In literature, the ability of government to manage budget deficits and debt accumulation has been receiving a growing attention since equilibrium growth paths of the economy need to be supported by adequate fiscal policy (Afonso 2004). Th ...
ECON 775 Monetary Economics - University of Wisconsin Whitewater
... Enrollment in this course is taken as a commitment from you that you have made room in your life to fulfill the obligations of this course - coming to class, being there for exams when they are scheduled, etc. I will not record attendance, but you will find yourself at a significant disadvantage if ...
... Enrollment in this course is taken as a commitment from you that you have made room in your life to fulfill the obligations of this course - coming to class, being there for exams when they are scheduled, etc. I will not record attendance, but you will find yourself at a significant disadvantage if ...
living better on less? toward an economics of
... When the results of these studies are illustrated graphically, however, with average per capita income in a nation (across the horizontal axis) and average life satisfaction (on the vertical axis), ...
... When the results of these studies are illustrated graphically, however, with average per capita income in a nation (across the horizontal axis) and average life satisfaction (on the vertical axis), ...
Mankiw 5/e Chapter 14: Stabilization Policy
... An example of the Lucas Critique Prediction (based on past experience): ...
... An example of the Lucas Critique Prediction (based on past experience): ...
Globalisation and monetary policy - from virtue to vice?
... to the crisis stemmed from the potential impact of more integrated financial markets on the monetary policy transmission mechanism, for example by increasing the sensitivity of investors to (now lower) interest rate differentials. From a theoretical point of view, some observers argued that key dete ...
... to the crisis stemmed from the potential impact of more integrated financial markets on the monetary policy transmission mechanism, for example by increasing the sensitivity of investors to (now lower) interest rate differentials. From a theoretical point of view, some observers argued that key dete ...
File - MCNEIL ECONOMICS
... tools (techniques or instruments) to control the reserves of banks and the size of the money supply. a. The Federal Reserve can buy or sell government securities in the open market to change the lending ability of the banking system. (1) Buying securities in the open market from either banks or the ...
... tools (techniques or instruments) to control the reserves of banks and the size of the money supply. a. The Federal Reserve can buy or sell government securities in the open market to change the lending ability of the banking system. (1) Buying securities in the open market from either banks or the ...
Betting on the Future with a Cloudy Crystal Ball?
... • After 1994, the federal deficit was eliminated by a combination of spending restraint, revenue increases, and boom. • After 2001 spending increased, taxes were cut, and we had a slight recession, reestablishing a structural deficit of 1 to 3 percent of GDP. • Then came the Great Recession! Jump to ...
... • After 1994, the federal deficit was eliminated by a combination of spending restraint, revenue increases, and boom. • After 2001 spending increased, taxes were cut, and we had a slight recession, reestablishing a structural deficit of 1 to 3 percent of GDP. • Then came the Great Recession! Jump to ...
NBER WORKING PAPER SERIES WITH FIRMS AND HOUSEHOLDS Andrew Haughwout Robert P. Jnman
... tax which falls on firm capital. Second, there is a perfectly elastic supply of suburban workers to city firms; firms therefore bear the initial burden of a non-resident wage tax. Third, all firms own land in the city; firms therefore bear the burden of the portion of the local property tax which fa ...
... tax which falls on firm capital. Second, there is a perfectly elastic supply of suburban workers to city firms; firms therefore bear the initial burden of a non-resident wage tax. Third, all firms own land in the city; firms therefore bear the burden of the portion of the local property tax which fa ...
PDF Download
... financed by current tax revenues. Financing such consumptive expenditures with public debt would crowd out private investments due to increasing interest rates. Although the balanced budget rule is still widely used, it has to be taken into account that a balanced budget does not necessarily have a ...
... financed by current tax revenues. Financing such consumptive expenditures with public debt would crowd out private investments due to increasing interest rates. Although the balanced budget rule is still widely used, it has to be taken into account that a balanced budget does not necessarily have a ...
MICHAL KALECKI
... need not slow down the pace of private investment. Anyway, he advocated financing higher government expenditure with higher taxes on profits, rather than by deficits, because he argued that the former would contribute also to redistribute income in favor of wage-earners and the poor. In developed ca ...
... need not slow down the pace of private investment. Anyway, he advocated financing higher government expenditure with higher taxes on profits, rather than by deficits, because he argued that the former would contribute also to redistribute income in favor of wage-earners and the poor. In developed ca ...
Comparing per capita income in the Hellenistic world: the case of
... We can use the income approach as cross-check. Jursa’s (2010) estimates the average wage at 2.5 shekel per month for a male worker, and two-third and one-third of this sum for a woman and a child respectively. We can assume that each household had 5 members, but it is very unlikely that all of them ...
... We can use the income approach as cross-check. Jursa’s (2010) estimates the average wage at 2.5 shekel per month for a male worker, and two-third and one-third of this sum for a woman and a child respectively. We can assume that each household had 5 members, but it is very unlikely that all of them ...
Discuss whether rising costs limit the size of firms over time.
... Capital: man-made resource used in further production Involves postponing present consumption Entrepreneurship: takes risk of being in business Information: data for the basis of knowledge-based economy 3. Opportunity Cost Real cost in terms of the next best alternative foregone Calculat ...
... Capital: man-made resource used in further production Involves postponing present consumption Entrepreneurship: takes risk of being in business Information: data for the basis of knowledge-based economy 3. Opportunity Cost Real cost in terms of the next best alternative foregone Calculat ...
Economics - Lake County Schools
... All teachers are expected to use the curriculum maps, in conjunction with data, to drive instruction. The maps were designed for the instruction to take place by quarter. There is some flexibility within the quarters for mastery and re-teaching. The expectation is that teachers will finish the conte ...
... All teachers are expected to use the curriculum maps, in conjunction with data, to drive instruction. The maps were designed for the instruction to take place by quarter. There is some flexibility within the quarters for mastery and re-teaching. The expectation is that teachers will finish the conte ...
Some thoughts on the Spanish economy after
... certain perspective. The crisis prompted a substantial readjustment of the main Spanish macroeconomic aggregates, affecting the level and composition of GDP, employment and the balance sheet position of the institutional sectors. During this period some of the imbalances that built up during the upt ...
... certain perspective. The crisis prompted a substantial readjustment of the main Spanish macroeconomic aggregates, affecting the level and composition of GDP, employment and the balance sheet position of the institutional sectors. During this period some of the imbalances that built up during the upt ...