Are We in a Recession? The `Anxious Index Nowcast`
... However, as we see in Table 4, the economic forecasters in the survey have an upward risk bias at the low end of the index spectrum. When they forecast recessions at values between 0 percent and 20 percent, they are overstating the possibility of there being a recession (i.e., they have been oversta ...
... However, as we see in Table 4, the economic forecasters in the survey have an upward risk bias at the low end of the index spectrum. When they forecast recessions at values between 0 percent and 20 percent, they are overstating the possibility of there being a recession (i.e., they have been oversta ...
Smith, Marshall and Young on Division of Labor and Economic Growth
... the Smith-Marshall-Young (SMY) approach still challenges modern growth theory. This paper attempts to substantiate this claim, a companion paper (Lavezzi, 2002) compares in more detail the SMY approach to the formalization of growth based on the division of labor in EGT, proposed by Romer (1987). Sp ...
... the Smith-Marshall-Young (SMY) approach still challenges modern growth theory. This paper attempts to substantiate this claim, a companion paper (Lavezzi, 2002) compares in more detail the SMY approach to the formalization of growth based on the division of labor in EGT, proposed by Romer (1987). Sp ...
Financial Development and Economic Growth: Evidence from a
... initial stock of physical capital and the initial stock of human capital. The available data on physical capital seem unreliable (Barro and Sala-i-Martin, 2004). Following Barro and Sala-i-Martin (2004) we assume that for a given stock of human capital, a higher level of initial income reflects a gr ...
... initial stock of physical capital and the initial stock of human capital. The available data on physical capital seem unreliable (Barro and Sala-i-Martin, 2004). Following Barro and Sala-i-Martin (2004) we assume that for a given stock of human capital, a higher level of initial income reflects a gr ...
UK BUSINESS CONFIDENCE MONITOR Q1 2009 East England 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 ...
The characteristics of a monetary economy: a Keynes
... Both Keynes and Schumpeter maintain that it is not possible to describe the way in which a monetary economy (capitalist economy) works by adopting the classical theory which describes a barter economy, but they justify money non-neutrality using different arguments. Keynes maintains that the presenc ...
... Both Keynes and Schumpeter maintain that it is not possible to describe the way in which a monetary economy (capitalist economy) works by adopting the classical theory which describes a barter economy, but they justify money non-neutrality using different arguments. Keynes maintains that the presenc ...
Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
... While these demand side factors have undoubtedly played a central role, it is unlikely that they alone can account for the extraordinarily sluggish movement of the economy back to the pre-crisis trend. This has led a number of authors to explore the contribution of supply-side factors. Both Hall (20 ...
... While these demand side factors have undoubtedly played a central role, it is unlikely that they alone can account for the extraordinarily sluggish movement of the economy back to the pre-crisis trend. This has led a number of authors to explore the contribution of supply-side factors. Both Hall (20 ...
A Dynamic Model of Aggregate Demand and Aggregate Supply
... • The dynamic model of aggregate demand and aggregate supply (DAD-DAS) determines both – real GDP (Y), and – the inflation rate (π) ...
... • The dynamic model of aggregate demand and aggregate supply (DAD-DAS) determines both – real GDP (Y), and – the inflation rate (π) ...
macronotes - Houston H. Stokes Page
... problems. Since the notes are distributed in WORD® 97 format, students can edit the notes. I. Fundamentals of Macroeconomics: Chapter 1 The Macroeconomy: Growth and Fluctuations Macroeconomics studies the aggregate economy - how and why the economy grows and fluctuates over time. Macro Theory provid ...
... problems. Since the notes are distributed in WORD® 97 format, students can edit the notes. I. Fundamentals of Macroeconomics: Chapter 1 The Macroeconomy: Growth and Fluctuations Macroeconomics studies the aggregate economy - how and why the economy grows and fluctuates over time. Macro Theory provid ...
Government spending and economic growth: evidence from Nigeria
... whereas government consumption spending is anticipated to be growth-retarding (Josaphat and Oliver, 2000). However, economies in transition do spend heavily on physical infrastructure to improve economic welfare of the people and facilitate production of goods and services across all sectors of the ...
... whereas government consumption spending is anticipated to be growth-retarding (Josaphat and Oliver, 2000). However, economies in transition do spend heavily on physical infrastructure to improve economic welfare of the people and facilitate production of goods and services across all sectors of the ...
Equation (6.2) gives so
... So dP = g ′dY , which could have obtained more easily from equation (6.12). Ordinarily this increase in the price level would have real effects since it reduces the real money supply and should therefore raise interest rates. But the Fed has ensured that interest rates do not changes, so the inflati ...
... So dP = g ′dY , which could have obtained more easily from equation (6.12). Ordinarily this increase in the price level would have real effects since it reduces the real money supply and should therefore raise interest rates. But the Fed has ensured that interest rates do not changes, so the inflati ...
Economists : Occupational Outlook Handbook : U.S. Bureau of
... programs, including spreadsheets, statistical analysis, and database management programs. Nearly half of all economists work in federal, state, and local government. Federal government economists collect and analyze data about the U.S. economy, including employment, prices, productivity, and wages a ...
... programs, including spreadsheets, statistical analysis, and database management programs. Nearly half of all economists work in federal, state, and local government. Federal government economists collect and analyze data about the U.S. economy, including employment, prices, productivity, and wages a ...
3. Determinants of Demand for Goods and Services
... An increase in government purchases: • No increase in taxes • So the government finances additional spending by borrowing or reducing public spending • No change in private saving • So national saving decreases: S shifts to the left • Interest rate rises • Increase in G causes r to rise • See Graph ...
... An increase in government purchases: • No increase in taxes • So the government finances additional spending by borrowing or reducing public spending • No change in private saving • So national saving decreases: S shifts to the left • Interest rate rises • Increase in G causes r to rise • See Graph ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... investment projects. In other words, credit crunch specifically refers to widespread reduction, ceteris paribus, in supply of credit for viable and unviable firms. It was Bernanke and Lown (1991) who first provided a different perspective on this hypothesis. They defined credit crunch as a significa ...
... investment projects. In other words, credit crunch specifically refers to widespread reduction, ceteris paribus, in supply of credit for viable and unviable firms. It was Bernanke and Lown (1991) who first provided a different perspective on this hypothesis. They defined credit crunch as a significa ...
Introduction - BORA
... see further than others. Without doubt, however, it has improved my own vision. The research that is the foundation for this thesis has been motivated by an overarching goal of improving economics education at the undergraduate level. An argument will be made that a new approach to teaching macroeco ...
... see further than others. Without doubt, however, it has improved my own vision. The research that is the foundation for this thesis has been motivated by an overarching goal of improving economics education at the undergraduate level. An argument will be made that a new approach to teaching macroeco ...
Krzysztof T. Konecki - Qualitative Sociology Review
... was not particularly worried about the issue of company’s profits, and that the entrepreneur was not especially concerned about the deep structure of the meaning of the term ‘profit’, since this could be destructive for the system. It must also be borne in mind that many activities are economic in c ...
... was not particularly worried about the issue of company’s profits, and that the entrepreneur was not especially concerned about the deep structure of the meaning of the term ‘profit’, since this could be destructive for the system. It must also be borne in mind that many activities are economic in c ...
Giancarlo Bertocco Money as an institution of capitalism. On the
... high with respect to the rate that is coherent with full employment. Dillard (1987) notes that this explanation of the non neutrality of money is based on two elements: the first is the characteristics of money that Keynes specifies in chapter XVII of the General Theory;5 the second is the presence ...
... high with respect to the rate that is coherent with full employment. Dillard (1987) notes that this explanation of the non neutrality of money is based on two elements: the first is the characteristics of money that Keynes specifies in chapter XVII of the General Theory;5 the second is the presence ...
