economic theory in transition
... In the midsummer of 2011 the American political image was badly tainted by the bitter partisan quarrel over the federal debt-ceiling. Democrats and Republicans alike knew that the ceiling had to be increased or the federal government could not maintain its operations, yet an issue that was supposed ...
... In the midsummer of 2011 the American political image was badly tainted by the bitter partisan quarrel over the federal debt-ceiling. Democrats and Republicans alike knew that the ceiling had to be increased or the federal government could not maintain its operations, yet an issue that was supposed ...
RBC Economic Outlook - Provincial Fact Sheet
... “British Columbia’s healthy employment situation has kept households in good spending spirit, which has been positive for consumer sectors in the province,” said Craig Wright, senior vice-president and chief economist, RBC. “The retail trade industry and new car dealers are benefiting from confident ...
... “British Columbia’s healthy employment situation has kept households in good spending spirit, which has been positive for consumer sectors in the province,” said Craig Wright, senior vice-president and chief economist, RBC. “The retail trade industry and new car dealers are benefiting from confident ...
Working Paper WAGNER’S LAW IN 19 CENTURY GREECE: A COINTEGRATION AND
... The notion that there is a long-run tendency for government activities to grow relative to economic activity was proposed by Wagner as back as in the late 19th century (Wagner, 1890). Wagner stated that during the industrialisation process, as the real income per capita of a nation increases, the sh ...
... The notion that there is a long-run tendency for government activities to grow relative to economic activity was proposed by Wagner as back as in the late 19th century (Wagner, 1890). Wagner stated that during the industrialisation process, as the real income per capita of a nation increases, the sh ...
Chapter 5 PPT
... Initial equilibrium is at E where AD and AS intersect (goods and money market equilibrium) Assume an increase in AD, which shifts AD to ...
... Initial equilibrium is at E where AD and AS intersect (goods and money market equilibrium) Assume an increase in AD, which shifts AD to ...
The Monetary Policy Effects of Sweden`s Transition Towards a
... negative interest rates. Thus, this implies that a cashless society in the case of negative interest rates might strengthen the power of the central bank to conduct monetary policy. Unell and Enlund argue that if the negative interest rates were to be carried over to private households, Sweden woul ...
... negative interest rates. Thus, this implies that a cashless society in the case of negative interest rates might strengthen the power of the central bank to conduct monetary policy. Unell and Enlund argue that if the negative interest rates were to be carried over to private households, Sweden woul ...
NBER WORKING PAPER SERIES REAL BUSINESS CYCLES AND THE LUCAS PARADIGM
... This paper has benefitted from comments provided by participants in the Macroeconomics Workshop at UNC-Chapel Hill, as well as from comments by Charles Plosser, Richard Sweeney, and an anonymous referee. The usual disclaimer applies. The research reported here is part of the NBERs research programs ...
... This paper has benefitted from comments provided by participants in the Macroeconomics Workshop at UNC-Chapel Hill, as well as from comments by Charles Plosser, Richard Sweeney, and an anonymous referee. The usual disclaimer applies. The research reported here is part of the NBERs research programs ...
(I) The Previous- Examination and (ii)
... The N.C.C./NSS; Cadets sent our to parades and camps and such students who are deputed by the University to take part in games, athletic or cultural activities may,. For purpose of attendance, be treated as present for the days of their absence in connection with the aforesaid activities and that pe ...
... The N.C.C./NSS; Cadets sent our to parades and camps and such students who are deputed by the University to take part in games, athletic or cultural activities may,. For purpose of attendance, be treated as present for the days of their absence in connection with the aforesaid activities and that pe ...
The Crisis of the Early 21st Century: Marxian perspectives
... on national territory is used declines, inducing enterprises to diminish their investment, with a negative effect on growth rates. A deficit of the government budget would have performed the task (the stimulation of demand) as well, but this device was not in line with neoliberal trends prior to the ...
... on national territory is used declines, inducing enterprises to diminish their investment, with a negative effect on growth rates. A deficit of the government budget would have performed the task (the stimulation of demand) as well, but this device was not in line with neoliberal trends prior to the ...
[The Macroeconomics of War and Peace
... think GOPO explained a very large fraction of the increase in productivity and real wages. That seems unlikely to me. First, this view is inconsistent with the post-World War I1 facts. As Hall (1988) and Rotemberg and Woodford (1992) have shown, productivity and real wages also rose together with mi ...
... think GOPO explained a very large fraction of the increase in productivity and real wages. That seems unlikely to me. First, this view is inconsistent with the post-World War I1 facts. As Hall (1988) and Rotemberg and Woodford (1992) have shown, productivity and real wages also rose together with mi ...
Presentation, Powerpoint 345kb - The Cambridge Trust for New
... agent assumption is Keynes’ (1936) ‘fallacy of composition’; And to quote Samuelson (1948) on this issue: “What is true for each is not necessarily true for all; and conversely, what is true for all may be quite false for each individual “ (p. 9); Clearly, the use of the ‘representative agent’ i ...
... agent assumption is Keynes’ (1936) ‘fallacy of composition’; And to quote Samuelson (1948) on this issue: “What is true for each is not necessarily true for all; and conversely, what is true for all may be quite false for each individual “ (p. 9); Clearly, the use of the ‘representative agent’ i ...
France: historic recession, atypical unemployment
... The lesson from four earlier cyclical downturns and recoveries: unemployment lags behind activity ...
... The lesson from four earlier cyclical downturns and recoveries: unemployment lags behind activity ...
Uk Economic Forecast Q2 2014 BUSINESS WITH CONFIDENCE icaew.com/ukeconomicforecast
... In this latest edition, we have revised up our 2014 economic growth forecast from 3.3% to 3.4%, as business confidence remains at a record high in Q2 2014, pointing to continued resilience in the economic recovery. Growth this year is forecast to be twice the rate seen in 2013. Encouragingly, there ...
... In this latest edition, we have revised up our 2014 economic growth forecast from 3.3% to 3.4%, as business confidence remains at a record high in Q2 2014, pointing to continued resilience in the economic recovery. Growth this year is forecast to be twice the rate seen in 2013. Encouragingly, there ...
FISCAL POLICY IN THE IS
... a) After working through theme 1 you should understand the interaction among demand, aggregate production and income in the simple model of income determination in the short run. The role of fiscal policy in this model is a clear one. Increases in government spending and decreases in taxes both incr ...
... a) After working through theme 1 you should understand the interaction among demand, aggregate production and income in the simple model of income determination in the short run. The role of fiscal policy in this model is a clear one. Increases in government spending and decreases in taxes both incr ...
MONETARY AND FISCAL POLICY IN THE VERY SHORT RUN
... economy is to move to point E1, where the interest rate is lower but output has not yet changed. At point E1, the money market is in equilibrium (the economy is on the new LM curve) but the goods market is not in equilibrium. In the goods market, the new interest rate, given the existing level of in ...
... economy is to move to point E1, where the interest rate is lower but output has not yet changed. At point E1, the money market is in equilibrium (the economy is on the new LM curve) but the goods market is not in equilibrium. In the goods market, the new interest rate, given the existing level of in ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... unconditional and systemic. The former are granted whenever there is a default by an individual borrower (e.g., deposit insurance), whereas the latter are granted only if a critical mass of borrowers goes bust. Clearly, if all debt were covered by unconditional bailout guarantees, then the enforceab ...
... unconditional and systemic. The former are granted whenever there is a default by an individual borrower (e.g., deposit insurance), whereas the latter are granted only if a critical mass of borrowers goes bust. Clearly, if all debt were covered by unconditional bailout guarantees, then the enforceab ...
Investing in "Innovation Infrastructure" to Restore U.S. Growth
... edition of Fiscal Monitor. 22 However, the United States, through its budget cutting “sequestration” program, began to focus more on budget deficits than stimulus. It is worthwhile asking if there is any evidence that a fiscal expansion during a period of stagnating growth and high government debt i ...
... edition of Fiscal Monitor. 22 However, the United States, through its budget cutting “sequestration” program, began to focus more on budget deficits than stimulus. It is worthwhile asking if there is any evidence that a fiscal expansion during a period of stagnating growth and high government debt i ...
Macroeconomics - Iowa State University Department of Economics
... is going to be in two or three years. That has a lot to do with how the macroeconomy is performing in two or three years, whether the economy is going to keep growing or go into a new recession. That in turn may have to do with the government’s macro policies, fiscal and monetary policies. If for ex ...
... is going to be in two or three years. That has a lot to do with how the macroeconomy is performing in two or three years, whether the economy is going to keep growing or go into a new recession. That in turn may have to do with the government’s macro policies, fiscal and monetary policies. If for ex ...
A Tour of The World
... Can Europe reduce its unemployment rate? Should the United States reduce its trade deficit? ...
... Can Europe reduce its unemployment rate? Should the United States reduce its trade deficit? ...
chapter 1
... aggregate of all markets, while macroeconomics is primarily concerned with the study of individual households and firms in a particular market. 7.____ If you buy a corporate bond or stock issued by Apple Computer, Inc., you are engaging in direct finance. 8.____ Business cycles usually proceed throu ...
... aggregate of all markets, while macroeconomics is primarily concerned with the study of individual households and firms in a particular market. 7.____ If you buy a corporate bond or stock issued by Apple Computer, Inc., you are engaging in direct finance. 8.____ Business cycles usually proceed throu ...
Fiscal Policy Design in Greece in the Aftermath of the Crisis: An Algorithmic Approach
... A highly illustrating example of fiscal policy design comes from the case of Greece. The greek economy suffered from persistent deficits combined with increasing debt-to-GDP ratios during the period up to 2009, thus leaving no fiscal space for exercising expansionary policy when the crisis hit. In M ...
... A highly illustrating example of fiscal policy design comes from the case of Greece. The greek economy suffered from persistent deficits combined with increasing debt-to-GDP ratios during the period up to 2009, thus leaving no fiscal space for exercising expansionary policy when the crisis hit. In M ...
Lecture 7: Macro: Growth of the National Economy
... – Two consecutive quarters (3-month periods) of declining GDP – A period when business production, employment and earnings fall below levels that the economy is capable of achieving ...
... – Two consecutive quarters (3-month periods) of declining GDP – A period when business production, employment and earnings fall below levels that the economy is capable of achieving ...
