NBER WORKING PAPER SERIES CHOOSING THE FEDERAL RESERVE CHAIR: LESSONS FROM HISTORY
... “banks have been accustomed … to an extremely large amount of excess reserves … and … it would take the banks some time to accustom themselves to operating with a smaller amount of excess, as evidenced by the fact that they had sold earning assets rather than reduce their balances with correspondent ...
... “banks have been accustomed … to an extremely large amount of excess reserves … and … it would take the banks some time to accustom themselves to operating with a smaller amount of excess, as evidenced by the fact that they had sold earning assets rather than reduce their balances with correspondent ...
Your Share January 2015 | Manning & Napier | Rochester, NY
... companies over their private counterparts for the Series’ portfolio. Public companies have more outlets through which to access capital, and they have taken advantage of the current environment to lock in low interest rates. The debt level among U.S. REITs continues to be very low, which, in our vie ...
... companies over their private counterparts for the Series’ portfolio. Public companies have more outlets through which to access capital, and they have taken advantage of the current environment to lock in low interest rates. The debt level among U.S. REITs continues to be very low, which, in our vie ...
UK BUSINESS CONFIDENCE MONITOR Q1 2009 Scotland Summary Report
... Demand in the economy is contracting and firms are shedding jobs as a result. Claimantcount unemployment rose by 213,000 in Q4 2008. Through 2009 we anticipate the rise in unemployment will be severe; the claimant count could almost double to reach 2.1m by the end of 2009. The latest UK Business Con ...
... Demand in the economy is contracting and firms are shedding jobs as a result. Claimantcount unemployment rose by 213,000 in Q4 2008. Through 2009 we anticipate the rise in unemployment will be severe; the claimant count could almost double to reach 2.1m by the end of 2009. The latest UK Business Con ...
Boundless Study Slides
... • fiscal policy Government policy that attempts to influence the direction of the economy through changes in government spending or taxes. • gold standard A monetary system where the value of circulating money is linked to the value of gold. • Keynesian Of or pertaining to an economic theory based o ...
... • fiscal policy Government policy that attempts to influence the direction of the economy through changes in government spending or taxes. • gold standard A monetary system where the value of circulating money is linked to the value of gold. • Keynesian Of or pertaining to an economic theory based o ...
MacroPractice
... 89. Explain the difference between how adaptive expectations are formed and how rational expectations are formed. How does this difference affect the speed at which economic variables are expected to change? 90. In what ways does the original Phillips curve differ from the Phillips curve created by ...
... 89. Explain the difference between how adaptive expectations are formed and how rational expectations are formed. How does this difference affect the speed at which economic variables are expected to change? 90. In what ways does the original Phillips curve differ from the Phillips curve created by ...
sustainability Monetary and Fiscal Policies for a Finite Planet
... how much money banks can create. An alternative view, known as endogenous money theory, argues that banks will actually make any loan they believe is likely to prove profitable. At the end of the day, banks that have loaned too much can borrow from those who have excess reserves or from the central ...
... how much money banks can create. An alternative view, known as endogenous money theory, argues that banks will actually make any loan they believe is likely to prove profitable. At the end of the day, banks that have loaned too much can borrow from those who have excess reserves or from the central ...
32.1 the short-run phillips curve
... The expected inflation rate is the inflation rate that people forecast and use to set the money wage rate and other money prices. Because the actual inflation rate equals the expected inflation rate at full employment, we can interpret the long-run Phillips curve as the relationship between inflatio ...
... The expected inflation rate is the inflation rate that people forecast and use to set the money wage rate and other money prices. Because the actual inflation rate equals the expected inflation rate at full employment, we can interpret the long-run Phillips curve as the relationship between inflatio ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Financial Liberalisation And Economic Growth In Nigeria: An Empirical Analysis and competition among banks. Until 1986, there were 29 deposit money banks (DMB‟s) 1 and 12 merchants banks most of which were government-owned. The government had a substantial share in the country‟s leading DMB‟s and m ...
... Financial Liberalisation And Economic Growth In Nigeria: An Empirical Analysis and competition among banks. Until 1986, there were 29 deposit money banks (DMB‟s) 1 and 12 merchants banks most of which were government-owned. The government had a substantial share in the country‟s leading DMB‟s and m ...
Fiscal Policy in a Currency Union at the Zero Lower Bound ∗
... Fiscal policy that directs spending toward low demand region can offset both. However, this also will creates additional distortions, so perfect allocation cannot be achieved. As noted by, Corsetti, Keester and Muller (2012) and Cook and Devereux (2015), a currency union does contain a commitment to ...
... Fiscal policy that directs spending toward low demand region can offset both. However, this also will creates additional distortions, so perfect allocation cannot be achieved. As noted by, Corsetti, Keester and Muller (2012) and Cook and Devereux (2015), a currency union does contain a commitment to ...
Is there a monetary growth imperative?
... Note the critical conceptual framing here: neoclassical economics sees interest and growth as independent of money. Both concepts are explained by certain characteristics of the capital stock (positive but diminishing returns on accumulation), individual preferences (saving vs. consuming) and techn ...
... Note the critical conceptual framing here: neoclassical economics sees interest and growth as independent of money. Both concepts are explained by certain characteristics of the capital stock (positive but diminishing returns on accumulation), individual preferences (saving vs. consuming) and techn ...
What is the relationship between large deficits and
... foreign exchange rates. As was the case for Catão and Terrones (2005), a deficit correction is impossible in the larger sample because we lack data on the stock of government liabilities (Bt – 1 in equations B1 and B2). Hall and Sargent (1997, 2010) use detailed information about individual governme ...
... foreign exchange rates. As was the case for Catão and Terrones (2005), a deficit correction is impossible in the larger sample because we lack data on the stock of government liabilities (Bt – 1 in equations B1 and B2). Hall and Sargent (1997, 2010) use detailed information about individual governme ...
Munich Annual Economic Report
... employment levels in the Bavarian capital, where the number of socially insured jobs rose by 2.7% to 776,405. Employment has thus been on the rise continually and at an above average rate for a number of years, and socially insured jobs have now reached a new peak both in Munich itself and in the en ...
... employment levels in the Bavarian capital, where the number of socially insured jobs rose by 2.7% to 776,405. Employment has thus been on the rise continually and at an above average rate for a number of years, and socially insured jobs have now reached a new peak both in Munich itself and in the en ...
Macro-economics of balance-sheet problems and the
... Households maximise their utility, firms maximise their profits and the government maximises a social welfare function. Monetary authorities many follow simple rules, such as the Taylor-rule. Every agent faces constraints. For example, households cannot consume more than they earned, loans require c ...
... Households maximise their utility, firms maximise their profits and the government maximises a social welfare function. Monetary authorities many follow simple rules, such as the Taylor-rule. Every agent faces constraints. For example, households cannot consume more than they earned, loans require c ...
1. assessing the stance of irish fiscal policy
... during the first half of 2000 which has been offset by the depreciation in the currency and rising domestic inflation. In this context the monetary and exchange rate conditions for the Irish economy remain very loose and accommodative of strong economic growth. The Irish economy continues its remark ...
... during the first half of 2000 which has been offset by the depreciation in the currency and rising domestic inflation. In this context the monetary and exchange rate conditions for the Irish economy remain very loose and accommodative of strong economic growth. The Irish economy continues its remark ...
INFLATIONARY PRESSURES IN SOUTH ASIA
... instability. Even so, the deficits in general as a percentage of GDP rarely exceeded ten per cent, and for most countries, the deficits widened in periods of low growth such as in the late 1990s, when they were driven by supply rather than demand shocks. Figures 5 to 7 graph the components of demand ...
... instability. Even so, the deficits in general as a percentage of GDP rarely exceeded ten per cent, and for most countries, the deficits widened in periods of low growth such as in the late 1990s, when they were driven by supply rather than demand shocks. Figures 5 to 7 graph the components of demand ...