The Strengths and Limitations of Input
... our motivation is to examine its applicability on fiscal policy impact measurement. To be more specific, the thesis focuses on anti-crisis measures, which were introduced to mitigate effects of financial crisis on the economy. Since there has been a little attention paid to input-output analysis app ...
... our motivation is to examine its applicability on fiscal policy impact measurement. To be more specific, the thesis focuses on anti-crisis measures, which were introduced to mitigate effects of financial crisis on the economy. Since there has been a little attention paid to input-output analysis app ...
Money In Modern Macro Models: A Review of the Arguments
... policy got more and more into doubt. In particular, owing to the seminal works by Kydland & Prescott (1982) and Long & Posser (1983), Real Business Cycle (RBC) and recently Dynamic Stochastic General Equilibrium (DSGE) models gained importance for monetary policy purposes. Despite these models’ theo ...
... policy got more and more into doubt. In particular, owing to the seminal works by Kydland & Prescott (1982) and Long & Posser (1983), Real Business Cycle (RBC) and recently Dynamic Stochastic General Equilibrium (DSGE) models gained importance for monetary policy purposes. Despite these models’ theo ...
When is the Government Spending Multiplier Large?
... real interest rate and the higher is desired savings. Recall that savings must be zero in equilibrium. So, as above, the nominal interest rate could hit zero before the real interest rate falls by enough to make savings equal to zero. When the zero bound is binding the equilibrium is established by ...
... real interest rate and the higher is desired savings. Recall that savings must be zero in equilibrium. So, as above, the nominal interest rate could hit zero before the real interest rate falls by enough to make savings equal to zero. When the zero bound is binding the equilibrium is established by ...
Historical Energy Price Shocks and their Effects on the Economy
... innovations as a explanatory variable for GDP have been performed for the US (Guo and Kliesen 2005) and several other oil-importing countries (Germany, Japan, India, SouthKorea) as well as oil-exporting countries (Malaysia) by Rentschler (2013). For all countries, there seemed to be a significant ne ...
... innovations as a explanatory variable for GDP have been performed for the US (Guo and Kliesen 2005) and several other oil-importing countries (Germany, Japan, India, SouthKorea) as well as oil-exporting countries (Malaysia) by Rentschler (2013). For all countries, there seemed to be a significant ne ...
Historical energy price shocks and their changing effects on the economy: Working Paper 153 (1 MB) (opens in new window)
... study, which used a six-variable system for testing the influence of oil prices on macro-economic aggregates. He found that oil prices had a significant impact on GDP. These findings were confirmed by Burbidge and Harrison (1984), Gisser and Goodwin (1986), Mork (1989), and Ferderer (1996). Similar ...
... study, which used a six-variable system for testing the influence of oil prices on macro-economic aggregates. He found that oil prices had a significant impact on GDP. These findings were confirmed by Burbidge and Harrison (1984), Gisser and Goodwin (1986), Mork (1989), and Ferderer (1996). Similar ...
Economic growth in Latin America in the late 20th
... process of the last 30 or 40 years in Latin America. The 1980s and 1990s have been decades of instability and slow growth for most of the Latin American region. There are exceptions, however. Chile and the Dominican Republic grew rapidly in the last decade or so although in recent years both economi ...
... process of the last 30 or 40 years in Latin America. The 1980s and 1990s have been decades of instability and slow growth for most of the Latin American region. There are exceptions, however. Chile and the Dominican Republic grew rapidly in the last decade or so although in recent years both economi ...
1 Principles of Macroeconomics, 9e
... 33) Unemployment generally ________ during recessions and ________ during expansions. A) falls; rises. B) falls; falls. C) rises; falls. D) rises; rises. Answer: C Diff: 1 Topic: Macroeconomic Concerns Skill: Conceptual AACSB: Reflective Thinking ...
... 33) Unemployment generally ________ during recessions and ________ during expansions. A) falls; rises. B) falls; falls. C) rises; falls. D) rises; rises. Answer: C Diff: 1 Topic: Macroeconomic Concerns Skill: Conceptual AACSB: Reflective Thinking ...
On growth and volatility regime switching models for
... the switch between the two governed by the outcome of a Markov process. Regime switching models such as these have also been heavily used in many other disciplines including finance (Hamilton and Susmel (1994)), meteorology (Zucchini and Guttorp (1991)) and speech recognition (Rabiner (1989)) to nam ...
... the switch between the two governed by the outcome of a Markov process. Regime switching models such as these have also been heavily used in many other disciplines including finance (Hamilton and Susmel (1994)), meteorology (Zucchini and Guttorp (1991)) and speech recognition (Rabiner (1989)) to nam ...
Combining Monetary and Fiscal Policy in an SVAR for a Small Open
... news variable based on expected present values of government spending caused by military events as reported in news media. On the other hand, Romer and Romer (2010) used narrative records, such as presidential speeches and Congressional reports, to document the timing of legislative changes to U.S. ...
... news variable based on expected present values of government spending caused by military events as reported in news media. On the other hand, Romer and Romer (2010) used narrative records, such as presidential speeches and Congressional reports, to document the timing of legislative changes to U.S. ...
The Reconnection Agenda
... would become the Recovery Act (and a big part of my life for the next few years, as VP Biden would be tagged to be its implementer-in-chief). Credit flows, supply, demand . . . the technical expertise in the room, including my own, believed that our job first and foremost was to get the economic sys ...
... would become the Recovery Act (and a big part of my life for the next few years, as VP Biden would be tagged to be its implementer-in-chief). Credit flows, supply, demand . . . the technical expertise in the room, including my own, believed that our job first and foremost was to get the economic sys ...
Design / Economics • Courses
... ECON 3560. Intermediate Macro-Theory. 3 hours. Factors affecting income level, employment and output; national income concepts and measurements; application of economic policy to current problems. Prerequisite(s): ECON 1100 and ECON 1110 with a grade of A or B. ECON 4020. Money and Financial Institu ...
... ECON 3560. Intermediate Macro-Theory. 3 hours. Factors affecting income level, employment and output; national income concepts and measurements; application of economic policy to current problems. Prerequisite(s): ECON 1100 and ECON 1110 with a grade of A or B. ECON 4020. Money and Financial Institu ...
sample only ECONOMIC FUNDAMENTALS IN
... major) at the University of Melbourne before moving to Canberra to work as an Economist with the Commonwealth Department of Treasury. After a few years he was promoted within the federal bureaucracy to the position of Senior Economist with the Industry Commission (now Productivity Commission). Since ...
... major) at the University of Melbourne before moving to Canberra to work as an Economist with the Commonwealth Department of Treasury. After a few years he was promoted within the federal bureaucracy to the position of Senior Economist with the Industry Commission (now Productivity Commission). Since ...
Chapter 01 Limits, Alternatives, and Choices
... A. What is the amount of profit for Intel and other makers of microchips? B. How does a cut in the business tax rate increase business investment in the economy? C. What will be the level of stock market and bond market prices at the end of the year? D. How does the supply of fruits and vegetables c ...
... A. What is the amount of profit for Intel and other makers of microchips? B. How does a cut in the business tax rate increase business investment in the economy? C. What will be the level of stock market and bond market prices at the end of the year? D. How does the supply of fruits and vegetables c ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... informs us that existing research may not be able to address this fundamental issue without first confronting the observational equivalence problem. Until we tackle this formidable empirical challenge, we cannot use data to distinguish perceptions from misperceptions about fiscal inflation. This cha ...
... informs us that existing research may not be able to address this fundamental issue without first confronting the observational equivalence problem. Until we tackle this formidable empirical challenge, we cannot use data to distinguish perceptions from misperceptions about fiscal inflation. This cha ...
Economic Structure in Humboldt County
... growth by tracking the year-to-year percentage change over 1970-2012. The average annual percentage change for the entire 42-year period is also traced on this chart to provide a benchmark for gauging period of relative high—and relative low—growth against the long-term trend. ...
... growth by tracking the year-to-year percentage change over 1970-2012. The average annual percentage change for the entire 42-year period is also traced on this chart to provide a benchmark for gauging period of relative high—and relative low—growth against the long-term trend. ...
expenditure plans and real gdp
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
romewp2013-01 - Research on Money in the Economy” ROME
... the oldest and most fundamental artefacts of economic life – i.e. money. The neglect of money in monetary policy circles seems to have come to an end since the dawn of the financial crisis in 2007. Since central banks around the world conduct quantitative easing in order to counteract the negative c ...
... the oldest and most fundamental artefacts of economic life – i.e. money. The neglect of money in monetary policy circles seems to have come to an end since the dawn of the financial crisis in 2007. Since central banks around the world conduct quantitative easing in order to counteract the negative c ...
At the Intersection - Canadian Construction Association
... the world enjoyed robust economic growth, fuelled by tremendous gains in productivity. Canada was no exception; strong productivity growth led to a growing economy, rising incomes and greater national wealth. In the 1970s and 1980s, however, productivity growth slowed and so did economic growth. In ...
... the world enjoyed robust economic growth, fuelled by tremendous gains in productivity. Canada was no exception; strong productivity growth led to a growing economy, rising incomes and greater national wealth. In the 1970s and 1980s, however, productivity growth slowed and so did economic growth. In ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Temin's work and that of his critics that no attention has been paid to the issue of finding the true slope of the consumption/income schedule. If the history of the United States is full of episodes where consumption shifts affected GNP, then the observed correlation of consumption and income is no ...
... Temin's work and that of his critics that no attention has been paid to the issue of finding the true slope of the consumption/income schedule. If the history of the United States is full of episodes where consumption shifts affected GNP, then the observed correlation of consumption and income is no ...
The data are collected at a quarterly frequency, over a
... side of the banking sector balance sheet, and thus of credit to otherwise financially constrained firms. If bank credit indeed plays a special role in the financing of these firms, shocks to money (and so credit availability) may have significant systemic consequences (Hartley and Walsh, 1991; Hartl ...
... side of the banking sector balance sheet, and thus of credit to otherwise financially constrained firms. If bank credit indeed plays a special role in the financing of these firms, shocks to money (and so credit availability) may have significant systemic consequences (Hartley and Walsh, 1991; Hartl ...
Monetary and Fiscal Policy in a Liquidity Trap:
... expected inflation, and a weaker domestic currency in the adverse periods when the natural rate of interest significantly deviates from a normal level. This is as if a central bank “borrows” future monetary easing in the periods when current monetary easing is exhausted. This idea of borrowing futu ...
... expected inflation, and a weaker domestic currency in the adverse periods when the natural rate of interest significantly deviates from a normal level. This is as if a central bank “borrows” future monetary easing in the periods when current monetary easing is exhausted. This idea of borrowing futu ...