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 ...
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 ...
STRUCTURAL DYNAMICS AND ECONOMIC GROWTH IN
... technological change smoothly increase aggregate GDP, may be a useful metaphor for some purposes, but it ends up overlooking some of the most essential elements of economic development (and technical change). An alternative perspective, derived from structuralist economic thinking (broadly defined), ...
... technological change smoothly increase aggregate GDP, may be a useful metaphor for some purposes, but it ends up overlooking some of the most essential elements of economic development (and technical change). An alternative perspective, derived from structuralist economic thinking (broadly defined), ...
Economics of Natural Disasters: A Critical Review
... The analysis of supply and demand relationship in and after a disaster in the book starts with a provocative paragraph: “At first glance, a theorist might view these short-term problems as trivial applications of the basic laws of supply and demand, thus concluding they are not worth special study. ...
... The analysis of supply and demand relationship in and after a disaster in the book starts with a provocative paragraph: “At first glance, a theorist might view these short-term problems as trivial applications of the basic laws of supply and demand, thus concluding they are not worth special study. ...
The Ill Wind that Blows from Europe: Implications for Canada`s
... The Study In Brief Speculation about the consequences of a break-up of the eurozone, a worsening sovereign debt crisis or a prolonged recession in the European Union have all in recent years made the headlines. At first glance, the effect that such events might have on the Canadian macroeconomy mig ...
... The Study In Brief Speculation about the consequences of a break-up of the eurozone, a worsening sovereign debt crisis or a prolonged recession in the European Union have all in recent years made the headlines. At first glance, the effect that such events might have on the Canadian macroeconomy mig ...
C - MyWeb
... The Determination of Equilibrium Output (Income) The Saving/Investment Approach to Equilibrium Because aggregate income must be saved or spent, by definition, Y ≡ C + S, which is an identity. The equilibrium condition is Y = C + I, but this is not an identity because it does not hold when we are ou ...
... The Determination of Equilibrium Output (Income) The Saving/Investment Approach to Equilibrium Because aggregate income must be saved or spent, by definition, Y ≡ C + S, which is an identity. The equilibrium condition is Y = C + I, but this is not an identity because it does not hold when we are ou ...
Lucas on the relationship between theory and ideology M. De Vroey
... “Methods and Problems in Business Cycle Theory” ([1980a] 1981a) comes closest to such an enterprise — it should be noted that about half the essays in his book, Studies in Business Cycle Theory, are of a methodological nature. The above account is drawn mainly from them. Note also that, with a few e ...
... “Methods and Problems in Business Cycle Theory” ([1980a] 1981a) comes closest to such an enterprise — it should be noted that about half the essays in his book, Studies in Business Cycle Theory, are of a methodological nature. The above account is drawn mainly from them. Note also that, with a few e ...
IMF Macroeconomic Impact of Fiscal Policy In This Issue
... would be modestly reduced in the short run, while lower government debt would reduce real interest rates and boost investment in the long run. In all the papers referred to in the preceding discussion, Ricardian equivalence does not hold. When Ricardian equivalence holds, public debt has no real eff ...
... would be modestly reduced in the short run, while lower government debt would reduce real interest rates and boost investment in the long run. In all the papers referred to in the preceding discussion, Ricardian equivalence does not hold. When Ricardian equivalence holds, public debt has no real eff ...
chapter summary
... in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
Estimation of the Mechanisms for Automatic Fiscal Stabilization. The
... stabilizers has a short duration, and if they have a symmetrical functionality during the economic cycle, they do not contribute to the degradation of the structural budget position. „The automatic stabilizers represent natural means to reduce the variations in the economic activity. Nevertheless, t ...
... stabilizers has a short duration, and if they have a symmetrical functionality during the economic cycle, they do not contribute to the degradation of the structural budget position. „The automatic stabilizers represent natural means to reduce the variations in the economic activity. Nevertheless, t ...
Forecasting real GDP: what role for narrow money?
... dealing with the situation in individual euro area countries (see the discussion above) but the results may differ for the euro area as a whole. Second, we distinguish between different forecasting horizons ranging from one quarter to two years. Usually, only one such horizon is evaluated.4 Third, i ...
... dealing with the situation in individual euro area countries (see the discussion above) but the results may differ for the euro area as a whole. Second, we distinguish between different forecasting horizons ranging from one quarter to two years. Usually, only one such horizon is evaluated.4 Third, i ...
I. 本年度特別關注事項 - Delia Memorial School (Hip Wo)
... - Uses and limitations of national income statistics as an indicator of economic welfare and for international comparison A. ...
... - Uses and limitations of national income statistics as an indicator of economic welfare and for international comparison A. ...
Loan supply shocks and the business cycle - ECB
... Kingdom and the United States. Together with a number of other historical episodes in recent decades, such as the well documented “capital crunch” during the early 1990s recession in the US, these represent clear indications that credit markets may play a non-negligible role over the business cycle ...
... Kingdom and the United States. Together with a number of other historical episodes in recent decades, such as the well documented “capital crunch” during the early 1990s recession in the US, these represent clear indications that credit markets may play a non-negligible role over the business cycle ...
Asymmetric Effects of Uncertainty over the Business Cycle: A
... In the wake of the Great Depression, Keynes (1936) notes that business cycles are asymmetric and Fisher (1933) remarks that cycles may be milder depending on the state of the different macrovariables. The past Global Financial Crisis suggests equivalent conclusions. It provides firm evidence for str ...
... In the wake of the Great Depression, Keynes (1936) notes that business cycles are asymmetric and Fisher (1933) remarks that cycles may be milder depending on the state of the different macrovariables. The past Global Financial Crisis suggests equivalent conclusions. It provides firm evidence for str ...
Cross-Country Empirical Studies of Systemic Bank
... the financial sector can be effected by larger scale than other sectors. Based on this factors, Borio et al.(2002) believed that the timing of financial crisis are unpredictable, but if one looked closely at other economic factors such as rapid growth in credit and asset prices or cumulative appreci ...
... the financial sector can be effected by larger scale than other sectors. Based on this factors, Borio et al.(2002) believed that the timing of financial crisis are unpredictable, but if one looked closely at other economic factors such as rapid growth in credit and asset prices or cumulative appreci ...
ec22 - Caritas University
... produce as many goods and services as possible while maintaining an acceptable level of price stability. Therefore, the level of output or productivity (real GDP) and employment ...
... produce as many goods and services as possible while maintaining an acceptable level of price stability. Therefore, the level of output or productivity (real GDP) and employment ...
Inflation and growth: Explaining a negative effect
... to physical capital, is proxied with the investment rate in a way suggested by the theory. Any further changes across countries to this real rate, for example as caused by differing tax regimes, are accounted for via use of fixed country specific effects within the econometric model. This is important i ...
... to physical capital, is proxied with the investment rate in a way suggested by the theory. Any further changes across countries to this real rate, for example as caused by differing tax regimes, are accounted for via use of fixed country specific effects within the econometric model. This is important i ...
how did leading indicator forecasts do during the 2001 recession?
... we find that the performance of specific indicators was different than during previous recessions. Some indicators, in particular the so-called term spread (the difference between long-term and short-term interest rates on government debt) and stock returns, provided some warning of a slowdown in ec ...
... we find that the performance of specific indicators was different than during previous recessions. Some indicators, in particular the so-called term spread (the difference between long-term and short-term interest rates on government debt) and stock returns, provided some warning of a slowdown in ec ...