Insert C, Chapter 24
... the average and say total production has increased by 55 percent. Since oranges and computers have different values, the quantities of each commodity are multiplied by their values or prices. Adding together all the results of the price times quantity figures leads to the aggregate figure showing th ...
... the average and say total production has increased by 55 percent. Since oranges and computers have different values, the quantities of each commodity are multiplied by their values or prices. Adding together all the results of the price times quantity figures leads to the aggregate figure showing th ...
Chapter 24 Measuring Domestic Output and National
... the average and say total production has increased by 55 percent. Since oranges and computers have different values, the quantities of each commodity are multiplied by their values or prices. Adding together all the results of the price times quantity figures leads to the aggregate figure showing th ...
... the average and say total production has increased by 55 percent. Since oranges and computers have different values, the quantities of each commodity are multiplied by their values or prices. Adding together all the results of the price times quantity figures leads to the aggregate figure showing th ...
Fiscal Sentiment and the Weak Recovery from the Great Recession
... path of private gross domestic investment trace rather closely the actual trajectory of that variable during the Great Recession and its aftermath. This particular incarnation of the …scal sentiment hypothesis can also account for between one-third and one-half of the decline in labor input relative ...
... path of private gross domestic investment trace rather closely the actual trajectory of that variable during the Great Recession and its aftermath. This particular incarnation of the …scal sentiment hypothesis can also account for between one-third and one-half of the decline in labor input relative ...
sample test two
... 16) The quantity of real GDP demanded equals $7.2 trillion when the GDP deflator is 90. If the GDP deflator rises to 95, the quantity of real GDP demanded equals A) less than $7.2 trillion. B) $7.2 trillion. C) more than $7.2 trillion but less than $7.8 trillion. D) more than $7.2 trillion but witho ...
... 16) The quantity of real GDP demanded equals $7.2 trillion when the GDP deflator is 90. If the GDP deflator rises to 95, the quantity of real GDP demanded equals A) less than $7.2 trillion. B) $7.2 trillion. C) more than $7.2 trillion but less than $7.8 trillion. D) more than $7.2 trillion but witho ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... entitled "The Business Cycle Today," was held at the Hotel Pierre in New York City on September 24, 1970. Its program included papers by members of the Bureau's research staff: Ilse Mintz, Geoffrey H. Moore and Solomon Fabricant in the morning session; and Victor Zarnowitz and Yoel Haitovsky and Nei ...
... entitled "The Business Cycle Today," was held at the Hotel Pierre in New York City on September 24, 1970. Its program included papers by members of the Bureau's research staff: Ilse Mintz, Geoffrey H. Moore and Solomon Fabricant in the morning session; and Victor Zarnowitz and Yoel Haitovsky and Nei ...
December 2007 - National Bureau of Economic Research
... Page 2 of 6 The committee identified December 2007 as the peak month, after determining that the subsequent decline in economic activity was large enough to qualify as a recession. Payroll employment, the number of filled jobs in the economy based on the Bureau of Labor Statistics’ large survey of ...
... Page 2 of 6 The committee identified December 2007 as the peak month, after determining that the subsequent decline in economic activity was large enough to qualify as a recession. Payroll employment, the number of filled jobs in the economy based on the Bureau of Labor Statistics’ large survey of ...
Cyclically Adjusted Fiscal Balance – OECD and ESCB Methods
... may react atypically over the cycle depending on the nature of the economic shock. By concentrating on elasticity with respect to the output gap, the OECD approach cannot incorporate actual composition effects. If the economic expansion is driven by private consumption, tax proceeds (mainly VAT and ...
... may react atypically over the cycle depending on the nature of the economic shock. By concentrating on elasticity with respect to the output gap, the OECD approach cannot incorporate actual composition effects. If the economic expansion is driven by private consumption, tax proceeds (mainly VAT and ...
NBER WORKING PAPER SERIES UNCERTAIN FISCAL CONSOLIDATIONS Huixin Bi Eric M. Leeper
... address questions relating to the composition of consolidations, which the empirical literature often finds important. Our analysis begins by adding distorting taxes to Bertola and Drazen’s (1993) model to highlight how uncertainty over the timing and the composition of fiscal compositions can affect w ...
... address questions relating to the composition of consolidations, which the empirical literature often finds important. Our analysis begins by adding distorting taxes to Bertola and Drazen’s (1993) model to highlight how uncertainty over the timing and the composition of fiscal compositions can affect w ...
FISCAL RULES 2014-03
... being a sufficient condition to get sustainable fiscal parameters, or on their ability to address the source of the bias toward unsustainable policies. And what about the effects of fiscal rules on the stabilisation function of fiscal policy? The literature has hardly investigated this research que ...
... being a sufficient condition to get sustainable fiscal parameters, or on their ability to address the source of the bias toward unsustainable policies. And what about the effects of fiscal rules on the stabilisation function of fiscal policy? The literature has hardly investigated this research que ...
NBER WORKING PAPER SERIES AN ALTERNATIVE INTERPRETATION OF THE ‘RESOURCE CURSE’:
... So the welfare losses associated with the consumption risk of the flow itself are not particularly large. To get bigger effects, the rest of the economy must somehow be disrupted by the volatility in oil. Interestingly, in a neo-classical setting, it is quite hard to make volatility matter. Imagine ...
... So the welfare losses associated with the consumption risk of the flow itself are not particularly large. To get bigger effects, the rest of the economy must somehow be disrupted by the volatility in oil. Interestingly, in a neo-classical setting, it is quite hard to make volatility matter. Imagine ...
“Banking, Finance, and Money: a Socio
... According to the concensus, in the long run only the supply side matters, while in the short run, both supply side and demand side variables matter. Unlike the 1960s version of Keynesian economics, fiscal policy is given a small role to play on the demand side (although government can influence the ...
... According to the concensus, in the long run only the supply side matters, while in the short run, both supply side and demand side variables matter. Unlike the 1960s version of Keynesian economics, fiscal policy is given a small role to play on the demand side (although government can influence the ...
Chapter 12: Macroeconomic Performance
... Whenever business activity creates output, it generates jobs and income for someone. GDP, then, is like a two-sided coin, where one side represents output and the other side an equal amount of income. If we want to see how much output is produced, we look at one side of the coin. If we want to see h ...
... Whenever business activity creates output, it generates jobs and income for someone. GDP, then, is like a two-sided coin, where one side represents output and the other side an equal amount of income. If we want to see how much output is produced, we look at one side of the coin. If we want to see h ...
Study Guide for Williamson Intermediate Macroeconomics, First
... income, corporate profits, net interest, indirect business taxes (sales and excise taxes paid by business), and depreciation (consumption of fixed capital). The last two GDP measures are represented by the income expenditure identity given as C + I + G + NX. C represents aggregate consumption and in ...
... income, corporate profits, net interest, indirect business taxes (sales and excise taxes paid by business), and depreciation (consumption of fixed capital). The last two GDP measures are represented by the income expenditure identity given as C + I + G + NX. C represents aggregate consumption and in ...
A Primer on the Nature of Business Cycles
... consumption patterns: they do not increase their spending too much when times are good and do not cut back too much when times are bad. The reason for this behavior can perhaps be best illustrated by the simple microeconomic experiment depicted in Figure 3. This diagram illustrates the choices open ...
... consumption patterns: they do not increase their spending too much when times are good and do not cut back too much when times are bad. The reason for this behavior can perhaps be best illustrated by the simple microeconomic experiment depicted in Figure 3. This diagram illustrates the choices open ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... all consumers and the government do not have identical homothetic preference functions, then any shifting of income among these groups would also have repercussions for relative prices since the composition of aggregate demand would change. The personal incidence of a differential tax depends on the ...
... all consumers and the government do not have identical homothetic preference functions, then any shifting of income among these groups would also have repercussions for relative prices since the composition of aggregate demand would change. The personal incidence of a differential tax depends on the ...
NATIONAL ACCOUNTS
... produced by an establishment, excluding the value of any goods and services used in an activity for which the establishment does not assume the risk of using the products in production, and excluding the value of goods and services consumed by the same establishment except for goods and services use ...
... produced by an establishment, excluding the value of any goods and services used in an activity for which the establishment does not assume the risk of using the products in production, and excluding the value of goods and services consumed by the same establishment except for goods and services use ...
Search theory and applied economic research
... in any model of money. If a lack of transparency (monitoring) is assumed, implementation of fiscal policies are affected because collecting taxes is made much more difficult. In other words, the characteristics that make money essential also determine the way in which the credit markets work and the ...
... in any model of money. If a lack of transparency (monitoring) is assumed, implementation of fiscal policies are affected because collecting taxes is made much more difficult. In other words, the characteristics that make money essential also determine the way in which the credit markets work and the ...
Judd
... how this dynamic incidence is to be valued. When the adjustment path is modeled in such models (as in Boadway and Bernheim) the results are sensitive to the discount rate, a parameter of intertemporal preferences which, in their models, does not affect savings behavior. In contrast, we examine dynam ...
... how this dynamic incidence is to be valued. When the adjustment path is modeled in such models (as in Boadway and Bernheim) the results are sensitive to the discount rate, a parameter of intertemporal preferences which, in their models, does not affect savings behavior. In contrast, we examine dynam ...
The change of paradigm of Milton Friedman
... So Milton Friedman came on and explained his theory of the causes of inflation. The first step to understand Friedman’s theory, is to accept that inflation is always a monetary phenomenon. It’s always a result of too much money, of more rapid increase in the quantity of money than in an output. More ...
... So Milton Friedman came on and explained his theory of the causes of inflation. The first step to understand Friedman’s theory, is to accept that inflation is always a monetary phenomenon. It’s always a result of too much money, of more rapid increase in the quantity of money than in an output. More ...
CHAPTER OVERVIEW
... 2. Since interest must be paid out of government revenues, a large debt and high interest can increase tax burden and may decrease incentives to work, save, and invest for taxpayers. 3. A higher proportion of the debt is owed to foreigners (about 23 percent) than in the past, and this can increase t ...
... 2. Since interest must be paid out of government revenues, a large debt and high interest can increase tax burden and may decrease incentives to work, save, and invest for taxpayers. 3. A higher proportion of the debt is owed to foreigners (about 23 percent) than in the past, and this can increase t ...