Should U.S. Fiscal Policy Address Slow Growth or the Debt? A Nondilemma
... Since June 2009, when the recession ended, output has grown more slowly than in prior recoveries, leaving the level of output well below its long-term trend. Likewise, unemployment remains above the level usually considered full employment. Thus, although the recovery began more than three years ago ...
... Since June 2009, when the recession ended, output has grown more slowly than in prior recoveries, leaving the level of output well below its long-term trend. Likewise, unemployment remains above the level usually considered full employment. Thus, although the recovery began more than three years ago ...
Summary: Ifo Economic Forecast 2014/2015: German Economy Gradually Regains Impetus (PDF, 172 KB)
... in the fourth quarter, translating into an annual average increase in real gross domestic product equal to 1.5% in 2014. Outlook for the German economy The upturn is expected to gain momentum over the year ahead. Adverse factors should already be largely priced into corporate sentiment, especially ...
... in the fourth quarter, translating into an annual average increase in real gross domestic product equal to 1.5% in 2014. Outlook for the German economy The upturn is expected to gain momentum over the year ahead. Adverse factors should already be largely priced into corporate sentiment, especially ...
14.02: Principles of Macroeconomics
... True. If investment is very sensitive to changes in the interest rate, a small decrease in interest rate will cause a large increase in investment level. Thus, the IS curve will be relatively flat. This will make monetary policy, with it direct impact on interest rate, very effective tool the gover ...
... True. If investment is very sensitive to changes in the interest rate, a small decrease in interest rate will cause a large increase in investment level. Thus, the IS curve will be relatively flat. This will make monetary policy, with it direct impact on interest rate, very effective tool the gover ...
Practice Exam
... a. Increasing returns to capital; Increasing ICOR levels b. Decreasing returns to capital; Increasing ICOR levels c. Increasing returns to capital; Decreasing ICOR levels d. Decreasing returns to capital; Decreasing ICOR levels ...
... a. Increasing returns to capital; Increasing ICOR levels b. Decreasing returns to capital; Increasing ICOR levels c. Increasing returns to capital; Decreasing ICOR levels d. Decreasing returns to capital; Decreasing ICOR levels ...
Ch 15
... • Many have argued that cuts in government transfers do not result in expanded work effort – Transfer programs in early 1980s were meant for women with small children and others unable to work – Many participants in current welfare system will not be able to work unless needs for child care, transpo ...
... • Many have argued that cuts in government transfers do not result in expanded work effort – Transfer programs in early 1980s were meant for women with small children and others unable to work – Many participants in current welfare system will not be able to work unless needs for child care, transpo ...
NBER WORKING PAPER SERIES THE EVOLUTION OF ENDOGENOUS BUSINESS CYCLES
... business cycles may not be the efficient responses of rational agents to shocks to technology; instead, they may be inefficient fluctuations in employment and GDP, caused by shocks to the self-fulfilling beliefs of households and firms. The 1994 JET volume spawned a literature on Endogenous Business Cyc ...
... business cycles may not be the efficient responses of rational agents to shocks to technology; instead, they may be inefficient fluctuations in employment and GDP, caused by shocks to the self-fulfilling beliefs of households and firms. The 1994 JET volume spawned a literature on Endogenous Business Cyc ...
The Political Economy of Finance: Greece from Postwar to EMU
... includes the organizational attributes of the state, the market, the political system, and civil society. Such institutional attributes at the aggregate macro-level amount to structural properties of the economy, polity, and society, that allow us, for example, to talk of underdevelopment of capital ...
... includes the organizational attributes of the state, the market, the political system, and civil society. Such institutional attributes at the aggregate macro-level amount to structural properties of the economy, polity, and society, that allow us, for example, to talk of underdevelopment of capital ...
What the Political System Can Do to Help the Fed
... (2003), and Carl Walsh (2010) point to several distinct advantages of a policymaking strategy that focuses directly on prices or inflation. First, these New Keynesian models imply that to the extent that short-run economic fluctuations have their origins in what more traditional Keynesian analyses r ...
... (2003), and Carl Walsh (2010) point to several distinct advantages of a policymaking strategy that focuses directly on prices or inflation. First, these New Keynesian models imply that to the extent that short-run economic fluctuations have their origins in what more traditional Keynesian analyses r ...
chapter summary
... Macroeconomics focuses on the national economy. A standard measure of performance is the growth of real gross domestic product, or real GDP, the value of all final goods and services produced in the nation during the year. The economy has two phases: periods of expansion and periods of contraction. ...
... Macroeconomics focuses on the national economy. A standard measure of performance is the growth of real gross domestic product, or real GDP, the value of all final goods and services produced in the nation during the year. The economy has two phases: periods of expansion and periods of contraction. ...
The Classical View Page 1 of 2
... model. What does an economist mean by the term “classical”? It means simply this—that wages and prices adjust instantly to clear markets. The classical perspective in macroeconomics is to be contrast with the Keynesian perspective. The Keynesian perspective is a view of the world as if wages and pri ...
... model. What does an economist mean by the term “classical”? It means simply this—that wages and prices adjust instantly to clear markets. The classical perspective in macroeconomics is to be contrast with the Keynesian perspective. The Keynesian perspective is a view of the world as if wages and pri ...
International Monetary Policy Co
... that the terms of trade effects may welfare dominate aggregate demand externalities. These models correct lack of micro-foundation in the traditional Mundell-Fleming-Dornbusch models for analysis of economic policy of open and interdependent economies including issues such as “beggar thyself” or beg ...
... that the terms of trade effects may welfare dominate aggregate demand externalities. These models correct lack of micro-foundation in the traditional Mundell-Fleming-Dornbusch models for analysis of economic policy of open and interdependent economies including issues such as “beggar thyself” or beg ...
Alberta`s Recession Not Quite Like The Others
... forcast to be particularly out-sized, consistent with the larger-than-average declines in both oil prices and shock to business and personal incomes. Labour market indicators, however, either point to an average recession in 2015-16 (i.e., peak-to-trough drop in employment) or below average (rise in ...
... forcast to be particularly out-sized, consistent with the larger-than-average declines in both oil prices and shock to business and personal incomes. Labour market indicators, however, either point to an average recession in 2015-16 (i.e., peak-to-trough drop in employment) or below average (rise in ...
Aggregate Supply & Aggregate Demand
... – Substitutions/complements can’t be graphed, since we’re showing aggregates—to overcome, we use inflation-adjusted monetary value of real GDP – Shapes based on GDP ...
... – Substitutions/complements can’t be graphed, since we’re showing aggregates—to overcome, we use inflation-adjusted monetary value of real GDP – Shapes based on GDP ...
Global Financial Crisis
... drop in commodity prices and deterioration in their terms of trade. In India, though our financial sector remained healthy, we were hit by sudden capital flow reversals as part of the global de-leveraging process and the liquidity hiccups transmitted mainly through the confidence channel. 4. While ...
... drop in commodity prices and deterioration in their terms of trade. In India, though our financial sector remained healthy, we were hit by sudden capital flow reversals as part of the global de-leveraging process and the liquidity hiccups transmitted mainly through the confidence channel. 4. While ...
Mishkin08
... • The study of business cycles focuses on short-run economic fluctuations • John Maynard Keynes questioned the classical view that economies moved quickly to their long-run equilibriums • Stating that “in the long run, we are all dead”, Keynes argued that the primary focus of macroeconomists should ...
... • The study of business cycles focuses on short-run economic fluctuations • John Maynard Keynes questioned the classical view that economies moved quickly to their long-run equilibriums • Stating that “in the long run, we are all dead”, Keynes argued that the primary focus of macroeconomists should ...
Origins of Pre-Revolutionary Iranian Economic Cycles and Policy Response Looney, R.E.
... As was the case with the First Plan, emphas.is was given to infrastructural projects. Similarly, investments for inclusion in the plan were chosen without any particular systematic framework in which their simultaneous impacts could be assessed and evaluated; i.e., the plan was largely a set of inde ...
... As was the case with the First Plan, emphas.is was given to infrastructural projects. Similarly, investments for inclusion in the plan were chosen without any particular systematic framework in which their simultaneous impacts could be assessed and evaluated; i.e., the plan was largely a set of inde ...
Economic Study Notes Inflation - The description of inflation
... Disposable income/transfer payments: Increases consumption spending vice versa Business (Trade) Cycle: Describes reoccurring fluctuations in economic activity experienced by most economies over a number of years Expansion ----- Boom ----- Recession ----- Trough Changes due to: business confidence; c ...
... Disposable income/transfer payments: Increases consumption spending vice versa Business (Trade) Cycle: Describes reoccurring fluctuations in economic activity experienced by most economies over a number of years Expansion ----- Boom ----- Recession ----- Trough Changes due to: business confidence; c ...
File
... Expansionary Fiscal Policy A government can try to eliminate a recessionary gap by: • Increasing government spending (+G) • Decreasing personal income taxes (+discretionary income => +C) • Decreasing corporate income taxes (+after-tax profit => +I) ...
... Expansionary Fiscal Policy A government can try to eliminate a recessionary gap by: • Increasing government spending (+G) • Decreasing personal income taxes (+discretionary income => +C) • Decreasing corporate income taxes (+after-tax profit => +I) ...
Three Arrows: Abenomics and Economic Growth
... ▪ The teacher can bring beans into class to represent money. Begin by giving students few beans. Bring in various items students might want (candy/soda/etc) and set a price for the items that is fairly high, high enough that few/no students can purchase it. ▪ Explain that this is what Japan was like ...
... ▪ The teacher can bring beans into class to represent money. Begin by giving students few beans. Bring in various items students might want (candy/soda/etc) and set a price for the items that is fairly high, high enough that few/no students can purchase it. ▪ Explain that this is what Japan was like ...
Structural Reforms: Set Up for Success? by Beth Anne Wilson
... • Duval and Furceri take a narrative approach: – Analyze OECD Country Surveys to isolate “large” reforms by looking for strong reform language, frequency of this language, or large changes in OECD indicators for product and labor market regulation ...
... • Duval and Furceri take a narrative approach: – Analyze OECD Country Surveys to isolate “large” reforms by looking for strong reform language, frequency of this language, or large changes in OECD indicators for product and labor market regulation ...
Japanese Economic Recovery and the Macroeconomic Policy Mix
... the behaviour of prices continues to be a source of concern. Even as recently as May 2004, Japan's CPI fell by 0.5 per cent from a year ago. Prices of commodities have witnessed steady declines since 1998 resulting in more than five years of near continuous fall in overall price levels in the econom ...
... the behaviour of prices continues to be a source of concern. Even as recently as May 2004, Japan's CPI fell by 0.5 per cent from a year ago. Prices of commodities have witnessed steady declines since 1998 resulting in more than five years of near continuous fall in overall price levels in the econom ...