Issues in Microeconomics Econ 101
... economic growth of real GDP. This is, as shown in the above figure, is far from reality. Ups and downs in real GDP are basically caused by changes in shocks to aggregate demand (a significant change in desired spending by consumers, business, government and foreigners). ...
... economic growth of real GDP. This is, as shown in the above figure, is far from reality. Ups and downs in real GDP are basically caused by changes in shocks to aggregate demand (a significant change in desired spending by consumers, business, government and foreigners). ...
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... Theory of Optimum Currency Areas (henceforth OCA; Mundell, 1961). Bayoumi and Eichengreen applied this methodology to assess the merits of adopting the common currency in the European Union. They sought to identify which European countries tend to encounter shocks predominantly symmetric or asymmetr ...
... Theory of Optimum Currency Areas (henceforth OCA; Mundell, 1961). Bayoumi and Eichengreen applied this methodology to assess the merits of adopting the common currency in the European Union. They sought to identify which European countries tend to encounter shocks predominantly symmetric or asymmetr ...
Problem Set 4 Question 2
... Looking at the IS-LM diagram first, we see that the fall in government spending causes the IS Curve to shift to the left, from IS0 to IS1. On the AS-AD diagram, the fiscal contraction causes the AD Curve to shift to the left, from AD0 to AD1. The new equilibrium has a lower output level, Y1, and als ...
... Looking at the IS-LM diagram first, we see that the fall in government spending causes the IS Curve to shift to the left, from IS0 to IS1. On the AS-AD diagram, the fiscal contraction causes the AD Curve to shift to the left, from AD0 to AD1. The new equilibrium has a lower output level, Y1, and als ...
A MONETARY POLICY RULE BASED ON FUZZY CONTROL IN AN
... with the actual policy of the American central bank (FED) in the period 1980-1990. Now, in order to preserve this agreement with data, other numbers are assigned to these parameters. By that way, the policy does not depend on values of economic variables generated by the economy itself, but also on ...
... with the actual policy of the American central bank (FED) in the period 1980-1990. Now, in order to preserve this agreement with data, other numbers are assigned to these parameters. By that way, the policy does not depend on values of economic variables generated by the economy itself, but also on ...
Wage theory, new deal labor policy and the Great Depression: were
... of attention and criticism. The reason for the attention is explained by Nobel laureate Edward Prescott: "The Great Depression and business cycles are similar in that both include variation in output accounted for in large part by variations in labor input to production" (1999: 26). Thus, Prescott i ...
... of attention and criticism. The reason for the attention is explained by Nobel laureate Edward Prescott: "The Great Depression and business cycles are similar in that both include variation in output accounted for in large part by variations in labor input to production" (1999: 26). Thus, Prescott i ...
Real Economic Consequences of Financial Crises
... in the absence of the Financial Crisis. This corresponds to a total accumulated output loss of around 12 per cent of GDP over the period 2009-13. An important question when reviewing the transmission process of the Financial Crisis is whether there have been periods showing signs of a general "credi ...
... in the absence of the Financial Crisis. This corresponds to a total accumulated output loss of around 12 per cent of GDP over the period 2009-13. An important question when reviewing the transmission process of the Financial Crisis is whether there have been periods showing signs of a general "credi ...
Long-Run and Short-Run Concerns: Growth, Productivity
... in his or her own business for 1 or more hours per week, 2. who works without pay for 15 or more hours ...
... in his or her own business for 1 or more hours per week, 2. who works without pay for 15 or more hours ...
Economic Ideas, the Monetary Order and the Uneasy Case for
... Economic ideas, as we shall henceforth label the state of economic understanding among the agents it is designed to serve, play a ubiquitous role in any monetary order. Most obviously, they inform the expectations on which agents’ day by day decisions are taken, but in addition they are the source o ...
... Economic ideas, as we shall henceforth label the state of economic understanding among the agents it is designed to serve, play a ubiquitous role in any monetary order. Most obviously, they inform the expectations on which agents’ day by day decisions are taken, but in addition they are the source o ...
NBER WORKING PAPER SERIES ON THE IRRELEVANCE OF PUBLIC FINANCIAL POLICY
... This paper establishes conditions under which public financial policy has neither real nor inflationary effects; under which it has inflationary effects, but not real effects; and under which it has real effects. An increase in government debt (keeping real expenditures fixed), accompanied by a decr ...
... This paper establishes conditions under which public financial policy has neither real nor inflationary effects; under which it has inflationary effects, but not real effects; and under which it has real effects. An increase in government debt (keeping real expenditures fixed), accompanied by a decr ...
Consulta: creatorFacets:"Sun, Lili" Registros recuperados: 9 Data
... useful typology for grouping countries by GDP and forest cover per capita, (2) to determine if the framework can enhance our understanding of the relationship between forest cover and GDP per capita, and (3) to investigate why countries in the four-quadrant world occupy different quadrants, and to d ...
... useful typology for grouping countries by GDP and forest cover per capita, (2) to determine if the framework can enhance our understanding of the relationship between forest cover and GDP per capita, and (3) to investigate why countries in the four-quadrant world occupy different quadrants, and to d ...
7. Medium-Term Projections
... Accordingly, global liquidity conditions will play an important role on the future course of monetary policy. The current monetary policy and the instruments designed by the CBRT provide a flexible framework to contain the adverse effects of the global shocks on the domestic economy. Currently, the ...
... Accordingly, global liquidity conditions will play an important role on the future course of monetary policy. The current monetary policy and the instruments designed by the CBRT provide a flexible framework to contain the adverse effects of the global shocks on the domestic economy. Currently, the ...
Does consumer credit support domestic growth or imports?
... Hence, tests are conducted after differentiation of all the series. The results for credit do not all converge. If, for the ERS and ADF tests, the transform series is stationary, other tests reject the stationarity hypothesis. Thus, this series will be regarded as I(1) later in the study. If it turn ...
... Hence, tests are conducted after differentiation of all the series. The results for credit do not all converge. If, for the ERS and ADF tests, the transform series is stationary, other tests reject the stationarity hypothesis. Thus, this series will be regarded as I(1) later in the study. If it turn ...
BEING KEYNESIAN IN THE SHORT TERM AND CLASSICAL IN
... in particular, technology and the real wage are given, and it is, consequently, possible to refer to a long-term equilibrium, also called steady state or long-term center of gravitation3 . The definition of this equilibrium is conventional. On the classical long-term equilibrium, the profit rates am ...
... in particular, technology and the real wage are given, and it is, consequently, possible to refer to a long-term equilibrium, also called steady state or long-term center of gravitation3 . The definition of this equilibrium is conventional. On the classical long-term equilibrium, the profit rates am ...
Problem Session-2
... paradox of saving in the short run, under different assumptions about the response of investment to output and the interest rate. Here we consider the issue one last time in the context of the AS-AD model. Suppose the economy begins with output equal to its natural level. Then there is a decrease in ...
... paradox of saving in the short run, under different assumptions about the response of investment to output and the interest rate. Here we consider the issue one last time in the context of the AS-AD model. Suppose the economy begins with output equal to its natural level. Then there is a decrease in ...
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... In their role as economic agents, households in the model take prices, taxes, public investment, the retirement age and retirement benefits as given when choosing consumption, savings, and labor supply. In their role as voters, households choose among office motivated parties that offer policy platf ...
... In their role as economic agents, households in the model take prices, taxes, public investment, the retirement age and retirement benefits as given when choosing consumption, savings, and labor supply. In their role as voters, households choose among office motivated parties that offer policy platf ...
Comments on Paul Davidson`s “Full Employment, Open Economy
... change in the real exchange rate, then ...” Davidson clearly needs to have some fixed prices for his “Keynesian” analysis, although he chooses to hold the real exchange rate constant, rather than wages. This is the vertical axis of the Swan diagram, and Davidson is describing movements along a hori ...
... change in the real exchange rate, then ...” Davidson clearly needs to have some fixed prices for his “Keynesian” analysis, although he chooses to hold the real exchange rate constant, rather than wages. This is the vertical axis of the Swan diagram, and Davidson is describing movements along a hori ...
Insert D, Ch 29
... substitution effect does not apply. Also, whereas when dealing with the demand for a single product the consumer’s income is assumed to be fixed, the AD curve specifically excludes this assumption. Movement down the AD curve indicates lower prices but, with regard to the circular flow of economic ac ...
... substitution effect does not apply. Also, whereas when dealing with the demand for a single product the consumer’s income is assumed to be fixed, the AD curve specifically excludes this assumption. Movement down the AD curve indicates lower prices but, with regard to the circular flow of economic ac ...