Economic Review, 2nd Quarter, 1999
... adjustment factors can also be seen as incorporating both long-run and short-run goals. The inflation gap adjustment factor incorporates the central bank’s long-run inflation goal. The output gap adjustment factor incorporates the view that in the short-run policy should lean against cyclical winds. ...
... adjustment factors can also be seen as incorporating both long-run and short-run goals. The inflation gap adjustment factor incorporates the central bank’s long-run inflation goal. The output gap adjustment factor incorporates the view that in the short-run policy should lean against cyclical winds. ...
Aggregate Demand and Aggregate Supply
... A third reason for the rise in the total quantity of goods and services demanded as the price level falls can be found in changes in the net export component of aggregate demand. All other things unchanged, a lower price level in an economy reduces the prices of its goods and services relative to fo ...
... A third reason for the rise in the total quantity of goods and services demanded as the price level falls can be found in changes in the net export component of aggregate demand. All other things unchanged, a lower price level in an economy reduces the prices of its goods and services relative to fo ...
Coyote Economist Economics Scholarships for Fall 2012 News.from.the.Department.of.Economics,.CSUSB
... blue line) and potential real GDP growth path (the red line). Obviously, if the current expansion continues growing at the pace seen since June of 2009, it will be several years before the United States economy returns to its long-run potential. It’s also possible that this may be the beginning of a ...
... blue line) and potential real GDP growth path (the red line). Obviously, if the current expansion continues growing at the pace seen since June of 2009, it will be several years before the United States economy returns to its long-run potential. It’s also possible that this may be the beginning of a ...
Labor market regimes and the effects of monetary policy
... The aim of this paper is help clarify the sources and potential numerical magnitudes of institutionally contingent monetary non-neutrality. Specifically, we apply a workhorse multi-union, monopolistic competition model to pin down analytically and evaluate numerically the nominal and real macroeconom ...
... The aim of this paper is help clarify the sources and potential numerical magnitudes of institutionally contingent monetary non-neutrality. Specifically, we apply a workhorse multi-union, monopolistic competition model to pin down analytically and evaluate numerically the nominal and real macroeconom ...
Expectations and Fundamentals in Banking Panics: Todd Keister Vijay Narasiman
... run occurs. This pattern – where bank runs are driven by agents’ expectations and where allowing intervention may be desirable – can be found in many subsequent papers; examples include Chang and Velasco (2000), Cooper and Kempf (2013) and Keister (2014), to name only a few. Other papers in the lite ...
... run occurs. This pattern – where bank runs are driven by agents’ expectations and where allowing intervention may be desirable – can be found in many subsequent papers; examples include Chang and Velasco (2000), Cooper and Kempf (2013) and Keister (2014), to name only a few. Other papers in the lite ...
The Economic Impact of Saratoga Gaming and Raceway
... supply store pays its workers and the feed mill supplying horse feed to the track purchases grain from farmers. Finally, the induced impacts result when wage payments are used to purchase consumer goods locally. For example, induced impacts occur when horse trainers or track employees use their inco ...
... supply store pays its workers and the feed mill supplying horse feed to the track purchases grain from farmers. Finally, the induced impacts result when wage payments are used to purchase consumer goods locally. For example, induced impacts occur when horse trainers or track employees use their inco ...
Department of Economic History, Stockholm University
... To investigate the causal relations between the different series prevalent statistical methods are used, as correlation and time series analysis. I also construct my own (or partly my own) statistical models that are more adequately suited to the specific questions I am posing. In deciding signific ...
... To investigate the causal relations between the different series prevalent statistical methods are used, as correlation and time series analysis. I also construct my own (or partly my own) statistical models that are more adequately suited to the specific questions I am posing. In deciding signific ...
Economics
... Higher education is a catalyst in shaping the development of human resources and in human capital formation. With the broadening of the concept of ‘capital’, the possibility of using expenditure on higher education as an ‘investment’ towards promoting growth through better quality human capital is w ...
... Higher education is a catalyst in shaping the development of human resources and in human capital formation. With the broadening of the concept of ‘capital’, the possibility of using expenditure on higher education as an ‘investment’ towards promoting growth through better quality human capital is w ...
Unemployment in Namibia - The Namibian Manufacturers Association
... unemployment rates (broadly defined) in the world, currently standing at 51.2% rising from 36% in 2004. This means more than half of Namibia’s economically active population is unemployed, posing major social, political and economic risks, as such high unemployment can yield devastating effects on s ...
... unemployment rates (broadly defined) in the world, currently standing at 51.2% rising from 36% in 2004. This means more than half of Namibia’s economically active population is unemployed, posing major social, political and economic risks, as such high unemployment can yield devastating effects on s ...
Financial Markets
... differ from zero. Notice that the R2 are rather low meaning that a lot of the changes in yields are not predictable. Notice the differences in the values of the standard deviations of the dependent variables. Weekly changes in Bill yields are most volatile, and weekly changes in BAA yields are less ...
... differ from zero. Notice that the R2 are rather low meaning that a lot of the changes in yields are not predictable. Notice the differences in the values of the standard deviations of the dependent variables. Weekly changes in Bill yields are most volatile, and weekly changes in BAA yields are less ...
Macroeconomics: Introduction
... Capital gains are no longer offsetting our current account deficit. ...
... Capital gains are no longer offsetting our current account deficit. ...
Sample Chapter 28
... output gap, in which short-run equilibrium output exceeds potential output. When output is above potential output, firms must produce at above-normal capacity to meet the demands of their customers. Like Al’s ice cream store, described in the chapter “Short-Term Economic Fluctuations,” firms may be ...
... output gap, in which short-run equilibrium output exceeds potential output. When output is above potential output, firms must produce at above-normal capacity to meet the demands of their customers. Like Al’s ice cream store, described in the chapter “Short-Term Economic Fluctuations,” firms may be ...
The Full Employment Surplus Revisited
... Most of these uses require a quantification of the full employment surplus in a consistent time series. The standard calculations have been based on an assumed level of real output equal to "potential output," which in turn is the estimated trend line of production consistent with an average unemplo ...
... Most of these uses require a quantification of the full employment surplus in a consistent time series. The standard calculations have been based on an assumed level of real output equal to "potential output," which in turn is the estimated trend line of production consistent with an average unemplo ...
NBER WORKING PAPER SERIES George-Marios Angeletos Luigi Iovino
... by i ∈ I = [0, 1]; firms and commodities by (i, j) ∈ I × J; and periods by t ∈ {0, 1, 2, ...}. Each period has two stages. In stage 1, workers and firms decide how much labor to, respectively, supply and demand in their local labor market, and local wages adjust so as to clear any excess demand. At ...
... by i ∈ I = [0, 1]; firms and commodities by (i, j) ∈ I × J; and periods by t ∈ {0, 1, 2, ...}. Each period has two stages. In stage 1, workers and firms decide how much labor to, respectively, supply and demand in their local labor market, and local wages adjust so as to clear any excess demand. At ...
CPI Mismeasurements and Their Impacts on Economic
... This debate has been aided by a new approach to estimating the CPI bias using Engel curves, which were introduced by Hamilton (2001). The basis of the approach is that Engel’s Law shows the inverse relationship between food’s budget share and household real income. Because food’s budget share may re ...
... This debate has been aided by a new approach to estimating the CPI bias using Engel curves, which were introduced by Hamilton (2001). The basis of the approach is that Engel’s Law shows the inverse relationship between food’s budget share and household real income. Because food’s budget share may re ...
(c.) (a.)
... 11. (58%) In the simple Keynesian AE model [not AD/AS] of an economy, changes in Ig or G will lead to a change in which of the following? a. the price level b. the level of output and employment c. interest rates d. the AS curve 12. (83%) In a closed-private in which the APC is .75, which of followi ...
... 11. (58%) In the simple Keynesian AE model [not AD/AS] of an economy, changes in Ig or G will lead to a change in which of the following? a. the price level b. the level of output and employment c. interest rates d. the AS curve 12. (83%) In a closed-private in which the APC is .75, which of followi ...
NBER WORKING PAPER SERIES Oleksiy Kryvtsov
... these prices are allocative and quantities are demand-determined. Thus, the assumption that factor inputs can be relatively flexibly varied over the cycle is a key feature in this second class of models. Indeed, Dotsey and King (2005) use the term “real flexibilities” to characterize this class of ...
... these prices are allocative and quantities are demand-determined. Thus, the assumption that factor inputs can be relatively flexibly varied over the cycle is a key feature in this second class of models. Indeed, Dotsey and King (2005) use the term “real flexibilities” to characterize this class of ...