the dynamics of innovation and investment
... The cause of innovation clustering and the subsequent bunching of investment (“clustbun”) is a matter of debate (see Freeman 1994, 86–9), but the Kaleckian feature of expanded reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological br ...
... The cause of innovation clustering and the subsequent bunching of investment (“clustbun”) is a matter of debate (see Freeman 1994, 86–9), but the Kaleckian feature of expanded reproduction has not been recognized by the protagonists in this debate. Clustering requires depressions or technological br ...
By How Much Does GDP Rise If the Government Buys More Output?
... the government purchases enter preferences in a separable fashion: they do not affect households’ marginal rate of substitution between consumption and work or between consumption this year and in any future year. Military spending is the obvious example. If instead the government provided consumers ...
... the government purchases enter preferences in a separable fashion: they do not affect households’ marginal rate of substitution between consumption and work or between consumption this year and in any future year. Military spending is the obvious example. If instead the government provided consumers ...
Economics EOCT Study Guide
... prepare to take the Economics/Business/ Free Enterprise EOCT. It will give you valuable information about the EOCT, explain how to prepare to take the EOCT, and provide some opportunities to practice for the EOCT. The study guide is organized into three sections. Each section focuses on a different ...
... prepare to take the Economics/Business/ Free Enterprise EOCT. It will give you valuable information about the EOCT, explain how to prepare to take the EOCT, and provide some opportunities to practice for the EOCT. The study guide is organized into three sections. Each section focuses on a different ...
A Rehabilitation of Monetary Policy in the 1950`s
... of in ation were large and imminent. As a result, they rmly believed that in ghting in ation they were encouraging both short-run stability and long-run growth. A key feature of the model of many FOMC members was a sensible view of capacity or full employment. Most policymakers believed that i ...
... of in ation were large and imminent. As a result, they rmly believed that in ghting in ation they were encouraging both short-run stability and long-run growth. A key feature of the model of many FOMC members was a sensible view of capacity or full employment. Most policymakers believed that i ...
NBER WORKING PAPER SERIES A SOLUTION TO FISCAL PROCYCLICALITY:
... each mid-year to make the judgments regarding the output gap and the medium term equilibrium price of copper. The experts on the copper panel are drawn from mining companies, the financial sector, research centers, and universities. The government then follows a set of procedures that translates the ...
... each mid-year to make the judgments regarding the output gap and the medium term equilibrium price of copper. The experts on the copper panel are drawn from mining companies, the financial sector, research centers, and universities. The government then follows a set of procedures that translates the ...
Demand-Led Growth Theory: An Historical Approach
... value of the super-multiplier. Section 4 then examines the key features and limitations of our model. It is shown that a central feature of the model is that the trend growth rate is normally different from one period to the next in which the accumulation process is ...
... value of the super-multiplier. Section 4 then examines the key features and limitations of our model. It is shown that a central feature of the model is that the trend growth rate is normally different from one period to the next in which the accumulation process is ...
ESSAYS ON MONETARY AND FISCAL POLICY By Andrea Pescatori
... are highly indebted I show that optimal monetary policy reaction (through interest rate) to inflationary pressure should be ‘milder’ than it is usually prescribed. The second chapter is based on the KM framework. This is a stronger type of credit market imperfection where households are not allowed ...
... are highly indebted I show that optimal monetary policy reaction (through interest rate) to inflationary pressure should be ‘milder’ than it is usually prescribed. The second chapter is based on the KM framework. This is a stronger type of credit market imperfection where households are not allowed ...
Paper 2 (sorted by syllabus section)
... Explain why economists distinguish between the short-run and long-run when examining how the costs of a firm behave as output increases. ...
... Explain why economists distinguish between the short-run and long-run when examining how the costs of a firm behave as output increases. ...
Bubbly Collateral and Economic Activity
... We build on this insight to develop a model of the bubbly economy. Entrepreneurs demand funds from bankers to finance their investment projects. Bankers, in turn, demand funds from savers to finance their loans to entrepreneurs. All of this borrowing must be collateralized, that is, it must be back ...
... We build on this insight to develop a model of the bubbly economy. Entrepreneurs demand funds from bankers to finance their investment projects. Bankers, in turn, demand funds from savers to finance their loans to entrepreneurs. All of this borrowing must be collateralized, that is, it must be back ...
Macro Sample Questions All Chapters McConnell 20 edition TO
... percentage point decline in the interest rate. Refer to the information. Using i and I to indicate the interest rate and investment (in billions of dollars) respectively, which of the following is the correct tabular presentation of the described relationship? A. Option A B. Option B C. Option C ...
... percentage point decline in the interest rate. Refer to the information. Using i and I to indicate the interest rate and investment (in billions of dollars) respectively, which of the following is the correct tabular presentation of the described relationship? A. Option A B. Option B C. Option C ...
The Effects of Macroeconomic Aggregates on Fertility Decisions
... extracted from above-trend taxes is a better functioning economy, which encourages fertility. In the contrary, people perceive tax cuts as a bad signal since, more often than not, they occur in periods of downturn. A rise in the government spending-GDP ratio is associated with a fall in fertility. T ...
... extracted from above-trend taxes is a better functioning economy, which encourages fertility. In the contrary, people perceive tax cuts as a bad signal since, more often than not, they occur in periods of downturn. A rise in the government spending-GDP ratio is associated with a fall in fertility. T ...
When are the Effects of Fiscal Policy Uncertainty Large?
... Naturally, the exact value of the effects of uncertainty about short-run fiscal policy depends on the details and parameterization of the model. However, I show that if the effects of a change in fiscal policy are larger when the ZLB binds than when it does not, then the effects of uncertainty abou ...
... Naturally, the exact value of the effects of uncertainty about short-run fiscal policy depends on the details and parameterization of the model. However, I show that if the effects of a change in fiscal policy are larger when the ZLB binds than when it does not, then the effects of uncertainty abou ...
FREE Sample Here
... the goods and services they need, any instances where they do not adequately fulfil those needs means that consumers are more likely to want mixed or market economies. In these kinds of economies, consumers have more control over the goods and services they receive. Diff: 2 Page Ref: 33 Objective: W ...
... the goods and services they need, any instances where they do not adequately fulfil those needs means that consumers are more likely to want mixed or market economies. In these kinds of economies, consumers have more control over the goods and services they receive. Diff: 2 Page Ref: 33 Objective: W ...
Chapter 24 The Great Depression
... nothing to stop the reckless business practices of the 20’s. Modern Industrial economies require government intervention in order to “balance” unbridled Mr. Robson, Hicksville High School ...
... nothing to stop the reckless business practices of the 20’s. Modern Industrial economies require government intervention in order to “balance” unbridled Mr. Robson, Hicksville High School ...
Preview Sample 2
... the goods and services they need, any instances where they do not adequately fulfil those needs means that consumers are more likely to want mixed or market economies. In these kinds of economies, consumers have more control over the goods and services they receive. Diff: 2 Page Ref: 33 Objective: W ...
... the goods and services they need, any instances where they do not adequately fulfil those needs means that consumers are more likely to want mixed or market economies. In these kinds of economies, consumers have more control over the goods and services they receive. Diff: 2 Page Ref: 33 Objective: W ...
The IS-LM Model - Spears School of Business
... interest rate (i) The connection between i and Y is investment (I) We need to figure out: i ←→ (I ) ←→ Y First we’ll discuss investment schedule: i ←→ (I ) Then we’ll use the Keynesian cross diagram Combining these two will give us: i ←→ Y ...
... interest rate (i) The connection between i and Y is investment (I) We need to figure out: i ←→ (I ) ←→ Y First we’ll discuss investment schedule: i ←→ (I ) Then we’ll use the Keynesian cross diagram Combining these two will give us: i ←→ Y ...
A Antonio Martino
... in the future and long-term investment plans; both need a stable money All the more so since the reconstruction will inevitably need the participation of foreign investors, who are certainly not encouraged by countries with dismal records of monetary performance. The lesson for policymakers in ex-co ...
... in the future and long-term investment plans; both need a stable money All the more so since the reconstruction will inevitably need the participation of foreign investors, who are certainly not encouraged by countries with dismal records of monetary performance. The lesson for policymakers in ex-co ...
The Role of Firm-Level Productivity Growth for the Optimal Rate of
... and new firms that expand at a faster rate than incumbent firms, I find that the optimal long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning- ...
... and new firms that expand at a faster rate than incumbent firms, I find that the optimal long-run inflation rate is between 0.5% and 1.5% per year. The model is calibrated to the US economy, and the calibration relies on firm-level data. The positive optimal inflation rate arises from the learning- ...
