Principles of Macroeconomics for AP® Courses
... help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to significantly improve educatio ...
... help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them the chance to lift themselves out of hunger and extreme poverty. In the United States, it seeks to significantly improve educatio ...
keynesian and new(keynesian models: the impact of military
... consumer behaviour, i.e. the increased asset market participation. From a theoretical point of view, we assume a standard Dynamic Stochastic General Equilibrium Model (DSGE) with an economy with sticky prices and limited asset market participation. Moreover, we assume the existence of a …scal polic ...
... consumer behaviour, i.e. the increased asset market participation. From a theoretical point of view, we assume a standard Dynamic Stochastic General Equilibrium Model (DSGE) with an economy with sticky prices and limited asset market participation. Moreover, we assume the existence of a …scal polic ...
When is the Government Spending Multiplier Large? Northwestern University
... discount factor increases desired saving. Since investment is zero in this economy, aggregate saving must be zero in equilibrium. When the shock is small enough, the real interest rate falls and there is a modest decline in output. However, when the shock is large enough, the zero bound becomes bind ...
... discount factor increases desired saving. Since investment is zero in this economy, aggregate saving must be zero in equilibrium. When the shock is small enough, the real interest rate falls and there is a modest decline in output. However, when the shock is large enough, the zero bound becomes bind ...
Structural Unemployment in Japan - Pacific Economic Cooperation
... Employment adjustment speed was slow, because of high fixed costs due to long-term employment and accumulated firm-specific skills though intensive OJT. Discouraged-worker effect among women contributed to reduce labor supply during recessions. Smooth transition from school to work was ensured throu ...
... Employment adjustment speed was slow, because of high fixed costs due to long-term employment and accumulated firm-specific skills though intensive OJT. Discouraged-worker effect among women contributed to reduce labor supply during recessions. Smooth transition from school to work was ensured throu ...
NBER WORKING PAPER SERIES MARKETS Rahul Anand
... The global financial crisis has led to a vigorous debate about the appropriate objectives for monetary policy. For instance, it has been posited that a narrow version of inflation targeting (IT) could pose risks if it implies that potential asset bubbles are ignored by central banks. The emerging co ...
... The global financial crisis has led to a vigorous debate about the appropriate objectives for monetary policy. For instance, it has been posited that a narrow version of inflation targeting (IT) could pose risks if it implies that potential asset bubbles are ignored by central banks. The emerging co ...
Markup Cycles, Dynamic Misallocation, and Amplification
... may arise even when aggregate “technological” shocks are small. A recent strand of literature has aimed at explaining how technological shocks at the individual firm or industry level do not diversify out, but may affect aggregate productivity. Gabaix [22] notes that if the distribution of firm size ...
... may arise even when aggregate “technological” shocks are small. A recent strand of literature has aimed at explaining how technological shocks at the individual firm or industry level do not diversify out, but may affect aggregate productivity. Gabaix [22] notes that if the distribution of firm size ...
C Forecast of macroeconomic indicators
... Impacts of the mentioned measures are calculated under ESA 95 methodology. From this reason, they may differ from actual claims to public financing. E.g. an increase in CEB capital will take the assumed CZK 2bn but in ESA 95 it is a financial operation having no impact on the balance, because one fi ...
... Impacts of the mentioned measures are calculated under ESA 95 methodology. From this reason, they may differ from actual claims to public financing. E.g. an increase in CEB capital will take the assumed CZK 2bn but in ESA 95 it is a financial operation having no impact on the balance, because one fi ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: American Economic Policy in the 1980s
... effectively resist a persistent rise in the rate of inflation, even if it is not the only influence on the general price level. Monetary policy is also far from the only important factor that influences the course of economic activity. The general slowdown in the rate of real economic growth since t ...
... effectively resist a persistent rise in the rate of inflation, even if it is not the only influence on the general price level. Monetary policy is also far from the only important factor that influences the course of economic activity. The general slowdown in the rate of real economic growth since t ...
How Friedman and Schwartz became monetarists
... Hammond (1996) and Rockoff (2006). Much of the work on the book took place in correspondence between Friedman in Chicago, and Schwartz, who was a researcher of the National Bureau of Economic Research, in New York. Here, we want to highlight two points. The first has to do with Friedman’s role. From ...
... Hammond (1996) and Rockoff (2006). Much of the work on the book took place in correspondence between Friedman in Chicago, and Schwartz, who was a researcher of the National Bureau of Economic Research, in New York. Here, we want to highlight two points. The first has to do with Friedman’s role. From ...
Inflation targeting, economic performance, and income distribution: a
... into an excess demand and higher prices on the market for produced goods and services. Mainstream Keynesians, on the other hand, would argue that low interest rates will lead to higher investment, increased economic activity, and higher prices owing to a Phillipscurve-like relation between prices an ...
... into an excess demand and higher prices on the market for produced goods and services. Mainstream Keynesians, on the other hand, would argue that low interest rates will lead to higher investment, increased economic activity, and higher prices owing to a Phillipscurve-like relation between prices an ...
Chapter Three - Mrs Swail`s Website
... US GDP would be the value of all the goods produced in the US in 2004. The GDP is seen as one of the most important economic numbers because it gives economists a rough idea of how fast the economy is growing. For example, the GDP for the United States rose 4.5% in 1999 which shows that our domestic ...
... US GDP would be the value of all the goods produced in the US in 2004. The GDP is seen as one of the most important economic numbers because it gives economists a rough idea of how fast the economy is growing. For example, the GDP for the United States rose 4.5% in 1999 which shows that our domestic ...
NBER WORKING PAPER SERIES THE PHILLIPS CURVE IS BACK? USING
... This consensus about the primary role of expectations for the failure of the Phillips curve has a serious limitation: expectations are dicult to subject to empirical examination. We address this problem by developing a simple and natural extension of the textbook Phillips curve for an open economy ...
... This consensus about the primary role of expectations for the failure of the Phillips curve has a serious limitation: expectations are dicult to subject to empirical examination. We address this problem by developing a simple and natural extension of the textbook Phillips curve for an open economy ...
No.334 / August 2010 IIIS Discussion Paper No. 334
... A feature of these political economy models is that the procyclicality bias tends to be more severe, the greater is the level of macroeconomic volatility. In a relatively-stable economy, the amplitude of the business cycle may be sufficiently low that it is sufficient to run a surplus in the low sin ...
... A feature of these political economy models is that the procyclicality bias tends to be more severe, the greater is the level of macroeconomic volatility. In a relatively-stable economy, the amplitude of the business cycle may be sufficiently low that it is sufficient to run a surplus in the low sin ...
Government Spending Multipliers under the Zero
... estimates the effects of government spending shocks on the economy. For example, Blanchard and Perotti (2002), Ramey (2011b) and Barro and Redlick (2011), Fisher and Peters (2010) and many other papers identify the multipliers for the U.S. using different identification schemes such as the instituti ...
... estimates the effects of government spending shocks on the economy. For example, Blanchard and Perotti (2002), Ramey (2011b) and Barro and Redlick (2011), Fisher and Peters (2010) and many other papers identify the multipliers for the U.S. using different identification schemes such as the instituti ...
modules 31 to 35
... Cutting interest rates to fight a slump in the economy caused by deflation can only go so far. Liquidity trap is when cutting interest rates cannot occur due to nominal rates close to 0%. ...
... Cutting interest rates to fight a slump in the economy caused by deflation can only go so far. Liquidity trap is when cutting interest rates cannot occur due to nominal rates close to 0%. ...