- 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↑)↓. ...
DRAFT A Review of High School Economics Textbooks
... describe the study of economics in roughly the same fashion. But any economic educator who has worked with school district curriculum leaders at the elementary level has been confronted with the false economic distinction of “wants versus needs.” The standards document does not confront this problem ...
... describe the study of economics in roughly the same fashion. But any economic educator who has worked with school district curriculum leaders at the elementary level has been confronted with the false economic distinction of “wants versus needs.” The standards document does not confront this problem ...
This PDF is a selection from a published volume from... Research Volume Title: Asset Prices and Monetary Policy
... However, and due to the presence of price stickiness, inflation variability is costly. Hence, monetary policy will have to optimally balance the incentive to offset the price stickiness distortion with the one of marginally affecting borrower’s collateral constraint. Our results point out that, quanti ...
... However, and due to the presence of price stickiness, inflation variability is costly. Hence, monetary policy will have to optimally balance the incentive to offset the price stickiness distortion with the one of marginally affecting borrower’s collateral constraint. Our results point out that, quanti ...
... proportion of their workforce. For instance, the survey of manufacturing companies undertaken by the Manufacturers Association of Nigeria (MAN) showed that 61.0% of the companies surveyed were shut down for different periods of not less that 3months while between 62.0 and 63.9% of them disengaged ov ...
the macroeconomics of the trym model of the
... contains: (1) a description of the overall structure of the model and a summary of its main relationships; (2) a brief description of sectors and markets embodied in TRYM; (3) a brief introduction to the intuition behind the model results drawing on standard macroeconomic theory; (4) a discussion of ...
... contains: (1) a description of the overall structure of the model and a summary of its main relationships; (2) a brief description of sectors and markets embodied in TRYM; (3) a brief introduction to the intuition behind the model results drawing on standard macroeconomic theory; (4) a discussion of ...
TRYM - Treasury archive
... contains: (1) a description of the overall structure of the model and a summary of its main relationships; (2) a brief description of sectors and markets embodied in TRYM; (3) a brief introduction to the intuition behind the model results drawing on standard macroeconomic theory; (4) a discussion of ...
... contains: (1) a description of the overall structure of the model and a summary of its main relationships; (2) a brief description of sectors and markets embodied in TRYM; (3) a brief introduction to the intuition behind the model results drawing on standard macroeconomic theory; (4) a discussion of ...
Chapter 15: Modern Macro - From Short-Run to Long-Run
... Cuts in G (like cuts in military spending) will lead to increases in investment in the long run Initially though a decrease in G will cause a decrease in real GDP As prices fall interest go down → and I goes up ...
... Cuts in G (like cuts in military spending) will lead to increases in investment in the long run Initially though a decrease in G will cause a decrease in real GDP As prices fall interest go down → and I goes up ...
ECONOMICS: PRINCIPLES AND PRACTICES Daily Lecture Notes
... A. Value is worth expressed in dollars and cents. Scarcity by itself is not enough to create value. For something to have value, it must also have utility. B. Utility is a good’s or service’s capacity to provide satisfaction, which varies with the needs and wants of each person. C. Wealth is the acc ...
... A. Value is worth expressed in dollars and cents. Scarcity by itself is not enough to create value. For something to have value, it must also have utility. B. Utility is a good’s or service’s capacity to provide satisfaction, which varies with the needs and wants of each person. C. Wealth is the acc ...
DES/UTAD
... different parts of Europe. In some areas there have been major tourism developments based on, for example, ski-ing or purpose-built coastal holiday villages. In other areas there is much more varied provision, including land-based tourist enterprises, small, medium and large hotels and holiday villa ...
... different parts of Europe. In some areas there have been major tourism developments based on, for example, ski-ing or purpose-built coastal holiday villages. In other areas there is much more varied provision, including land-based tourist enterprises, small, medium and large hotels and holiday villa ...
ANALYSIS OF THE ZIMBABWEAN HYPERINFLATION CRISIS: A
... regression and tests for significance than on the calculus and mathematical proofs of Cagan. In addition, current research is often more policy-oriented, which makes it very relevant to this paper’s objectives. In this section, I will summarize some of the recent work in the field of hyperinflation ...
... regression and tests for significance than on the calculus and mathematical proofs of Cagan. In addition, current research is often more policy-oriented, which makes it very relevant to this paper’s objectives. In this section, I will summarize some of the recent work in the field of hyperinflation ...
Economics Principles and Practices Reading Essentials
... Scarcity is the basic economic problem of how to meet people’s seemingly unlimited wants with scarce resources. This basic problem affects almost every economic decision people make as buyers and as sellers. Consider how people seem to always want more than they have. People’s wants are unlimited bu ...
... Scarcity is the basic economic problem of how to meet people’s seemingly unlimited wants with scarce resources. This basic problem affects almost every economic decision people make as buyers and as sellers. Consider how people seem to always want more than they have. People’s wants are unlimited bu ...
BNR ECONOMIC REVIEW Vol. 9
... The first paper on financial innovation and monetary policy is aimed at assessing whether the various financial innovation that have taken place over the past years pose difficulties on the conduct of monetary policy in Rwanda. In the context of the current monetary policy framework, this assessment ...
... The first paper on financial innovation and monetary policy is aimed at assessing whether the various financial innovation that have taken place over the past years pose difficulties on the conduct of monetary policy in Rwanda. In the context of the current monetary policy framework, this assessment ...
NBER WORKING PAPER SERIES THEORIES OF WAGE RIGIDITY Joseph E. Stiglitz
... employees by their employers. The second I shall refer to generically as "efficiency wage" theories; these hold that workers' productivity depends on the wage that they are paid; firms may not lower wages, even in the presence of unemployment, because to do so would lower the ...
... employees by their employers. The second I shall refer to generically as "efficiency wage" theories; these hold that workers' productivity depends on the wage that they are paid; firms may not lower wages, even in the presence of unemployment, because to do so would lower the ...
Endogenous Technical Change in Alternative Theories
... distribution. The goal is to highlight the distinctive features that allow for a comparison with the alternative growth and distribution theories that are at the center of this paper. The neoclassical (or marginalist) theory of output and distribution is based on technology, consumer preferences, an ...
... distribution. The goal is to highlight the distinctive features that allow for a comparison with the alternative growth and distribution theories that are at the center of this paper. The neoclassical (or marginalist) theory of output and distribution is based on technology, consumer preferences, an ...
NBER WORKING PAPER SERIES Robert J. Gordon Working Paper 11778
... This paper develops a new analysis of the U. S. economy in the 1920s that is illuminated by contrasts with the 1990s, and it also re-examines the causes of the Great Depression. In both the 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invent ...
... This paper develops a new analysis of the U. S. economy in the 1920s that is illuminated by contrasts with the 1990s, and it also re-examines the causes of the Great Depression. In both the 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously invent ...
NBER WORKING PAPER SERIES HOW DO MONETARY AND FISCAL POLICY
... equation (27). If prices are flexible, DPt = 1 and aggregate output is maximized for a given labor input; if prices are sticky, DPt > 1, and output will be less for a given labor input. ...
... equation (27). If prices are flexible, DPt = 1 and aggregate output is maximized for a given labor input; if prices are sticky, DPt > 1, and output will be less for a given labor input. ...
The St~cture of Financial Markets and the Monetary Mechanism
... represents the effects of a monetary authority which has the power of fixing "exogenously" the nominal money supply through techniques which need not be specified at this point and equation (6) defines equlibrium in the money market. Equations (4)-(6) together define the Hicksian LM schedule, the co ...
... represents the effects of a monetary authority which has the power of fixing "exogenously" the nominal money supply through techniques which need not be specified at this point and equation (6) defines equlibrium in the money market. Equations (4)-(6) together define the Hicksian LM schedule, the co ...
CHAPTER 27: Fiscal Policy
... An Expression for Equilibrium Real GDP The letters with “bars” represent fixed or autonomous values that do not depend on the values of other variables. So, C represents autonomous consumption, which had a value of 1,000 in our original example. Now, solving for equilibrium we get: ...
... An Expression for Equilibrium Real GDP The letters with “bars” represent fixed or autonomous values that do not depend on the values of other variables. So, C represents autonomous consumption, which had a value of 1,000 in our original example. Now, solving for equilibrium we get: ...
Land-Price Dynamics and Macroeconomic Fluctuations
... equilibrium framework. We focus on land prices because most of the fluctuations in house prices are driven by land prices rather than by the cost of structures (Davis and Heathcote, 2007). We first establish evidence that land prices move together with macroeconomic variables not just in the Great R ...
... equilibrium framework. We focus on land prices because most of the fluctuations in house prices are driven by land prices rather than by the cost of structures (Davis and Heathcote, 2007). We first establish evidence that land prices move together with macroeconomic variables not just in the Great R ...
Contents pdf 122.6 KB
... feature of the procedure is that it allows to derive a measure of the uncertainty surrounding the estimates. However, a number of issues, also common to other indicators, suggest a cautious use of the FiPS. Mohr investigates the impact of fiscal policy in Germany using a structural vector autoregres ...
... feature of the procedure is that it allows to derive a measure of the uncertainty surrounding the estimates. However, a number of issues, also common to other indicators, suggest a cautious use of the FiPS. Mohr investigates the impact of fiscal policy in Germany using a structural vector autoregres ...
