The Open Economy Revisited: the Mundell
... In the Mundell-Fleming model, the central bank shifts the LM* curve as required to keep e at its preannounced rate. ...
... In the Mundell-Fleming model, the central bank shifts the LM* curve as required to keep e at its preannounced rate. ...
Economic Freedom and Financial Development: International Evidence
... To answer that question we estimate equations (1) and (2). Table 3 reports the results for both. The “baseline” results are found in the first column under each financial measure. The results uniformly indicate that the initial level of (log) real per capita GDP in 1980 is a highly significant facto ...
... To answer that question we estimate equations (1) and (2). Table 3 reports the results for both. The “baseline” results are found in the first column under each financial measure. The results uniformly indicate that the initial level of (log) real per capita GDP in 1980 is a highly significant facto ...
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... in favour of such inverse link. The evidence is rationalised with the notion that trade openness, by enhancing the magnitude of the market facing a given country, increases the benefits of small size. Conversely, small countries have a strong interest in maintaining access to international markets ( ...
... in favour of such inverse link. The evidence is rationalised with the notion that trade openness, by enhancing the magnitude of the market facing a given country, increases the benefits of small size. Conversely, small countries have a strong interest in maintaining access to international markets ( ...
demand S. 1
... –You may visit other shops and gauge the reactions of consumers to different prices. –You may poll ____________ about prices and determine demand from this data. –You could study data compiled over past years, which would show consumer reactions to higher and lower prices. •All of these methods woul ...
... –You may visit other shops and gauge the reactions of consumers to different prices. –You may poll ____________ about prices and determine demand from this data. –You could study data compiled over past years, which would show consumer reactions to higher and lower prices. •All of these methods woul ...
Chapter 30: Monetary Policy
... 3) The long-term real interest rate falls. 4) Consumption expenditure, investment, and net exports ...
... 3) The long-term real interest rate falls. 4) Consumption expenditure, investment, and net exports ...
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... of exports is expected to be dampened somewhat as a result of revaluation of the yuan against the dollar (though some economists expect that the recent 2 percent revaluation of the yuan will be absorbed by Chinese manufacturers, diminishing their profit margins, and not be passed on export prices). ...
... of exports is expected to be dampened somewhat as a result of revaluation of the yuan against the dollar (though some economists expect that the recent 2 percent revaluation of the yuan will be absorbed by Chinese manufacturers, diminishing their profit margins, and not be passed on export prices). ...
When the Bubbles Burst…
... • Consider only top quartile of recorded peak to peak price increases as bubbles • Consider only bottom quartile of recorded peak to trough price declines as bubble crashes ...
... • Consider only top quartile of recorded peak to peak price increases as bubbles • Consider only bottom quartile of recorded peak to trough price declines as bubble crashes ...
Circular flow of economic activity through a simple market economy
... The supply curve intersects the new demand curve at point n, so the new equilibrium price is $6 (down from $8), and the new equilibrium quantity is 20,000 pizzas (down from 30,000 pizzas). Market Effects of an Increase in Supply: An increase in supply shifts the supply curve to the right: At each pr ...
... The supply curve intersects the new demand curve at point n, so the new equilibrium price is $6 (down from $8), and the new equilibrium quantity is 20,000 pizzas (down from 30,000 pizzas). Market Effects of an Increase in Supply: An increase in supply shifts the supply curve to the right: At each pr ...
A Neo-Keynedan Vie~ of Monetary Policy
... minimizing the importance of monetary forces. That contention was probably true 20 years ago for a variety of historical and institutional reasons. But much water has passed over the dam since that time, and I believe it would now be difficult to find an example of the popular stereotype of the Keyn ...
... minimizing the importance of monetary forces. That contention was probably true 20 years ago for a variety of historical and institutional reasons. But much water has passed over the dam since that time, and I believe it would now be difficult to find an example of the popular stereotype of the Keyn ...
Mankiw: Brief Principles of Macroeconomics, Second Edition
... rate but a positive inflation rate. If the AD had shifted to the left, inflation would have fallen, but unemployment would have risen. ...
... rate but a positive inflation rate. If the AD had shifted to the left, inflation would have fallen, but unemployment would have risen. ...
Studies on the Macroeconomics of Monetary Union - Jultika
... regimes.1 The gold standard was blamed for the worldwide spread of depression after 1929, and a system of flexible exchange rates was proposed as an alternative. For example Friedman (1953) argued that a country could be better off by reserving domestic monetary policy for price or employment stabil ...
... regimes.1 The gold standard was blamed for the worldwide spread of depression after 1929, and a system of flexible exchange rates was proposed as an alternative. For example Friedman (1953) argued that a country could be better off by reserving domestic monetary policy for price or employment stabil ...
Keynes and Development Economics: a Sixty Year
... Skidelsy and Donald Moggridge and authors and editors of research papers over many years have greatly enriched our knowledge of Keynes and his manifold activities, compared with the situation of thirty years ago. So we can say more clearly today what Keynes believed about economic development. Keyne ...
... Skidelsy and Donald Moggridge and authors and editors of research papers over many years have greatly enriched our knowledge of Keynes and his manifold activities, compared with the situation of thirty years ago. So we can say more clearly today what Keynes believed about economic development. Keyne ...
Household Debt—the final stage in an artificially
... 73 per cent in Australia versus 64 per cent in 1929. Debt-financed demand was a much smaller fraction of aggregate demand—13 per cent in the United States and under 10 per cent in Australia—so that deleveraging would have occurred from a much lower base than that of the present. Inflation was also h ...
... 73 per cent in Australia versus 64 per cent in 1929. Debt-financed demand was a much smaller fraction of aggregate demand—13 per cent in the United States and under 10 per cent in Australia—so that deleveraging would have occurred from a much lower base than that of the present. Inflation was also h ...
Multiple Choice
... c. result in decreases in the interest rate and real GDP, which are then followed by increases in the interest rate which offset some of the change in real GDP d. result in decreases in the interest rate and increases in real GDP, which are then followed by increases in the interest rate which offse ...
... c. result in decreases in the interest rate and real GDP, which are then followed by increases in the interest rate which offset some of the change in real GDP d. result in decreases in the interest rate and increases in real GDP, which are then followed by increases in the interest rate which offse ...
A Arthur Burns and Inflation Robert L. Hetzel
... two worlds in economics: an earlier American institutionalism and the nowdominant neoclassical school. Burns was the protégé of the American institutionalist and founder of the NBER, Wesley Clair Mitchell. While working on his Ph.D. at Columbia in 1930, he attracted Mitchell’s attention. Burns bec ...
... two worlds in economics: an earlier American institutionalism and the nowdominant neoclassical school. Burns was the protégé of the American institutionalist and founder of the NBER, Wesley Clair Mitchell. While working on his Ph.D. at Columbia in 1930, he attracted Mitchell’s attention. Burns bec ...
building lithuanian macro-econometric model: forecast of
... 2. Developed Macroeconomic Models for Average Wages and Unemployment Macroeconomic models have been used for formulation of economic policy almost in every country of the world. These models not only provide an analytical framework to link the wages, unemployment rates and other economic indicator s ...
... 2. Developed Macroeconomic Models for Average Wages and Unemployment Macroeconomic models have been used for formulation of economic policy almost in every country of the world. These models not only provide an analytical framework to link the wages, unemployment rates and other economic indicator s ...
short_run - YSU
... spending will cause a sustained increase in GDP. • Multiplier process works in both directions. – Just as increases in investment spending cause equilibrium GDP to rise by a multiple of the change in spending. • Decreases in investment spending cause equilibrium GDP to fall by a multiple of the chan ...
... spending will cause a sustained increase in GDP. • Multiplier process works in both directions. – Just as increases in investment spending cause equilibrium GDP to rise by a multiple of the change in spending. • Decreases in investment spending cause equilibrium GDP to fall by a multiple of the chan ...
Utility and Preference
... • Point U the economy is producing inside the production possibility curve. At this point output can be increased in the short-term policy measures that should absorb the idle or unemployed resources and move to I (one). • Full – employment does not mean the economy will grow. Full – employment impl ...
... • Point U the economy is producing inside the production possibility curve. At this point output can be increased in the short-term policy measures that should absorb the idle or unemployed resources and move to I (one). • Full – employment does not mean the economy will grow. Full – employment impl ...
Monetary Policy, Part 2
... ¾ Intermediate targets are variables the Fed cannot directly control but can influence predictably and are related to the Fed’s goals. ¾ Examples include: • The monetary aggregates such as M1 and M2, and • Short-term interest rates, such as the Fed funds rate ...
... ¾ Intermediate targets are variables the Fed cannot directly control but can influence predictably and are related to the Fed’s goals. ¾ Examples include: • The monetary aggregates such as M1 and M2, and • Short-term interest rates, such as the Fed funds rate ...
Inflation
... hurting both consumers and businesses. By causing price increases throughout an economy, rising oil prices take money out of the pockets of consumers and businesses. Economists therefore view oil price hikes as a “tax,” in effect, that can depress an already weak economy. Surges in oil prices were f ...
... hurting both consumers and businesses. By causing price increases throughout an economy, rising oil prices take money out of the pockets of consumers and businesses. Economists therefore view oil price hikes as a “tax,” in effect, that can depress an already weak economy. Surges in oil prices were f ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... gains, and by extension, leading to economic growth. At an extreme end, some authors find no causal relationship between the two series. So many researchers have looked at single country effect of export on economic growth, while there are also substantial authors who have examined cross-country emp ...
... gains, and by extension, leading to economic growth. At an extreme end, some authors find no causal relationship between the two series. So many researchers have looked at single country effect of export on economic growth, while there are also substantial authors who have examined cross-country emp ...