ECON
... outcomes; labor supply and the role of family formation; the effect of human capital and discrimination on earnings; analysis of government policies; international comparisons. Prerequisites: 6 hours drawn from the following: ECON 202, STAT 303, 3 hours in WGST above 200 level; junior or senior clas ...
... outcomes; labor supply and the role of family formation; the effect of human capital and discrimination on earnings; analysis of government policies; international comparisons. Prerequisites: 6 hours drawn from the following: ECON 202, STAT 303, 3 hours in WGST above 200 level; junior or senior clas ...
kalecki`s long-run theory of effective demand
... Kalecki’s business cycle theory can be considered as one of the first results, together with Frisch’s 1933 “Swinging System”, of a mathematical theory of the business cycle. Each one combines two essential elements. A set of carefully chosen and empirically observable facts is formalized, and then a ...
... Kalecki’s business cycle theory can be considered as one of the first results, together with Frisch’s 1933 “Swinging System”, of a mathematical theory of the business cycle. Each one combines two essential elements. A set of carefully chosen and empirically observable facts is formalized, and then a ...
A Tempestuous Season
... use evidence, economic data, to evaluate the theories developed to explain how economic agents behave. A Time Series Econometrician, with a time series perspective. We study the peculiarities in some data as it evolves over time. Random Walks live in Time Series Econometrics. ...
... use evidence, economic data, to evaluate the theories developed to explain how economic agents behave. A Time Series Econometrician, with a time series perspective. We study the peculiarities in some data as it evolves over time. Random Walks live in Time Series Econometrics. ...
FISCAL POLICY IN SWEDEN
... unemployment benefit for an unemployed person. However, it is probable that other transfer payments in the form of housing allowances and social welfare payments also decrease when unemployment decline. Taxes seem to be strongly procyclical. Taken as a whole, taxes in proportion to GDP increase by 0 ...
... unemployment benefit for an unemployed person. However, it is probable that other transfer payments in the form of housing allowances and social welfare payments also decrease when unemployment decline. Taxes seem to be strongly procyclical. Taken as a whole, taxes in proportion to GDP increase by 0 ...
NBER WORKING PAPER SERIES ENDOGENOUS ENTRY, PRODUCT VARIETY, AND BUSINESS CYCLES
... exit in our model capture the product-switching dynamics within firms documented by Bernard, Redding, and Schott (2006).8 In our baseline setup, each individual producer/firm produces output using only labor. However, the number of firms that produce in each period can be interpreted as the capital ...
... exit in our model capture the product-switching dynamics within firms documented by Bernard, Redding, and Schott (2006).8 In our baseline setup, each individual producer/firm produces output using only labor. However, the number of firms that produce in each period can be interpreted as the capital ...
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... a percent of potential GDP. Growth of the euro area is still lacking the dynamics observed elsewhere in the world. On average, real GDP growth in the euro area is expected to increase to 2.0 percent this year. Growth will thereby be somewhat above trend. The growth gap between Europe and the United ...
... a percent of potential GDP. Growth of the euro area is still lacking the dynamics observed elsewhere in the world. On average, real GDP growth in the euro area is expected to increase to 2.0 percent this year. Growth will thereby be somewhat above trend. The growth gap between Europe and the United ...
60s - Eurobank
... growth path (divergence) compared to that which other developed market economies (USA, Japan and EU-15) have followed during the last 40 years (1974-2013). The not negligible contribution of the capital factor only partially managed to offset this weak growth behavior. Things were more successful du ...
... growth path (divergence) compared to that which other developed market economies (USA, Japan and EU-15) have followed during the last 40 years (1974-2013). The not negligible contribution of the capital factor only partially managed to offset this weak growth behavior. Things were more successful du ...
This PDF is a selection from a published volume
... Moreover, the violation of PPP is not a transitory phenomenon, as several empirical studies have shown. Chari, Kehoe, and McGrattan (2002) studied the persistence of the real-exchange-rate shocks using HP-filtered quarterly data for the USA and 11 developed European countries for the period 1973:1-2 ...
... Moreover, the violation of PPP is not a transitory phenomenon, as several empirical studies have shown. Chari, Kehoe, and McGrattan (2002) studied the persistence of the real-exchange-rate shocks using HP-filtered quarterly data for the USA and 11 developed European countries for the period 1973:1-2 ...
Paper - Langer Research Associates
... serves as a useful economic forecasting tool. Economic analysts and the news media report its ups and downs. The release of confidence numbers is often cited (with and sometimes without supporting evidence) as a force in the movement of the stock markets (e.g., Associated Press, 2002; Chu, 2003; Fue ...
... serves as a useful economic forecasting tool. Economic analysts and the news media report its ups and downs. The release of confidence numbers is often cited (with and sometimes without supporting evidence) as a force in the movement of the stock markets (e.g., Associated Press, 2002; Chu, 2003; Fue ...
Section 4: The national and international economy
... 3 The multiplier effect explains how an initial rise in the level of injections causes a greater than proportionate increase in national income. At the same time the accelerator theory suggests that investment increases when national income rises over time. Both concepts feed off each other — a rise ...
... 3 The multiplier effect explains how an initial rise in the level of injections causes a greater than proportionate increase in national income. At the same time the accelerator theory suggests that investment increases when national income rises over time. Both concepts feed off each other — a rise ...
MEASURING PRODUCTION AND INCOME, Chapter 2
... recession some of it may not be used. Lessons: 1. A higher aggregate demand (AD) stimulates output in the short run but not in the long run. 2. Higher nominal wages or temporary higher oil prices increases the price level and decreases output in the short run but have no effect in the long run. 9.1. ...
... recession some of it may not be used. Lessons: 1. A higher aggregate demand (AD) stimulates output in the short run but not in the long run. 2. Higher nominal wages or temporary higher oil prices increases the price level and decreases output in the short run but have no effect in the long run. 9.1. ...
IS THERE A TRADE-OFF BETWEEN INFLATION AND OUTPUT STABILIZATION?
... that the con‡ict among policymakers’objectives is negligible. At low frequencies, the contribution of wage markup shocks to ‡uctuations is small because our prior assumes that most of the exogenous variation in labor supply identi…ed by the model is due to shifts in households’attitudes towards work ...
... that the con‡ict among policymakers’objectives is negligible. At low frequencies, the contribution of wage markup shocks to ‡uctuations is small because our prior assumes that most of the exogenous variation in labor supply identi…ed by the model is due to shifts in households’attitudes towards work ...
Successful Austerity in the United States, Europe and Japan
... conventional monetary policy support to fiscal consolidation is limited by the fact that interest rates are near their effective floor, while everywhere population aging and currently low trend growth provide little room to absorb falling demand. As most of the advanced countries are called to adjus ...
... conventional monetary policy support to fiscal consolidation is limited by the fact that interest rates are near their effective floor, while everywhere population aging and currently low trend growth provide little room to absorb falling demand. As most of the advanced countries are called to adjus ...
(When) Does Austerity Work? On the Conditional Link between
... Prior to the sovereign debt crisis in Europe, the debate on debt dynamics and fiscal consolidation was framed largely around two theoretical schools of thought. On the one hand, the Keynesian tradition which saw fiscal expansion as growth-inducing, owing to the premise of price- and wagestickiness. ...
... Prior to the sovereign debt crisis in Europe, the debate on debt dynamics and fiscal consolidation was framed largely around two theoretical schools of thought. On the one hand, the Keynesian tradition which saw fiscal expansion as growth-inducing, owing to the premise of price- and wagestickiness. ...
Problems for Macroeconomics, 2/e
... clear similarities in the policy responses of the U.S. and Japanese governments. Central banks in both countries reduced interest rates, and governments in both countries tried to stimulate the economy with lower taxes. Government spending also increased in both countries; explicitly for economic st ...
... clear similarities in the policy responses of the U.S. and Japanese governments. Central banks in both countries reduced interest rates, and governments in both countries tried to stimulate the economy with lower taxes. Government spending also increased in both countries; explicitly for economic st ...
portable document (.pdf) format
... No causality exists between Government Investment and Government Expenditure. Bidirectional causality exists between Exchange Rate and Government Expenditure, No causality exists between Inflation Rate and Government Expenditure, No causality exists between Interest Rate and Government Expenditure, ...
... No causality exists between Government Investment and Government Expenditure. Bidirectional causality exists between Exchange Rate and Government Expenditure, No causality exists between Inflation Rate and Government Expenditure, No causality exists between Interest Rate and Government Expenditure, ...
The Costs of Inflation
... changes in nominal prices for changes in real prices. • Example: Mary receives a 10% increase in salary. Feeling she can now afford it, she takes on a higher mortgage payment. The rate of inflation is 10% and she is no better off in terms of real salary. She now has a higher house payment and is in ...
... changes in nominal prices for changes in real prices. • Example: Mary receives a 10% increase in salary. Feeling she can now afford it, she takes on a higher mortgage payment. The rate of inflation is 10% and she is no better off in terms of real salary. She now has a higher house payment and is in ...
Public Procurement: The Achilles’ Heel of Good Governance Jeff Gutman Senior Fellow
... A results-based focus requires a different and more holistic approach to public procurement to best serve governance concerns for the quality of public expenditure while addressing governance concerns for integrity of the process. ...
... A results-based focus requires a different and more holistic approach to public procurement to best serve governance concerns for the quality of public expenditure while addressing governance concerns for integrity of the process. ...
Optimal Mane~ary Palicy and Sacrifice Ra~ia Jeffrey C. Fuhrer*
... goals. Thus, an optimal monetary policy according to this metric will systematically set the policy instrument in response to deviations of policy goals--usually inflation and real output from their targets so as to minimize this weighted average. The weights on inflation and real output reflect the ...
... goals. Thus, an optimal monetary policy according to this metric will systematically set the policy instrument in response to deviations of policy goals--usually inflation and real output from their targets so as to minimize this weighted average. The weights on inflation and real output reflect the ...
- Rainer Maurer
... 4. The Keynesian Model and its Policy Implications 4.1. The Keynesian Theory ➤ The Keynesian consumption function C(Y↑)↑ corresponds at first sight much better to empirical observations as the neoclassical consumption function C(i↑)↓. ...
... 4. The Keynesian Model and its Policy Implications 4.1. The Keynesian Theory ➤ The Keynesian consumption function C(Y↑)↑ corresponds at first sight much better to empirical observations as the neoclassical consumption function C(i↑)↓. ...