The Impact of Policy Uncertainty on U.S. Employment: Industry Evidence No. 13-3
... subsequent steps of production it will traverse before eventually reaching the final user––the federal government in this case. ...
... subsequent steps of production it will traverse before eventually reaching the final user––the federal government in this case. ...
mihaela paun
... Potential output is commonly defined as the highest level of real GDP that can be sustained on the long run considering the full employment of all available production factors. ...
... Potential output is commonly defined as the highest level of real GDP that can be sustained on the long run considering the full employment of all available production factors. ...
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... indicator correlates closely with the actual business-cycle trend for the euro area – measured in annual growth rates of real GDP (see Figure). The Ifo Indicator for the economic climate in the euro area continued to rise this quarter, exceeding its long-term average for the first time since the end ...
... indicator correlates closely with the actual business-cycle trend for the euro area – measured in annual growth rates of real GDP (see Figure). The Ifo Indicator for the economic climate in the euro area continued to rise this quarter, exceeding its long-term average for the first time since the end ...
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... for the worldwide tourism industry. With that said, these events and crises, individually and/or collectively, rarely precipitate any lasting recession within the international tourism industry. A plausible explanation for the ability of the industry to recover and recoup quickly is that tourism exp ...
... for the worldwide tourism industry. With that said, these events and crises, individually and/or collectively, rarely precipitate any lasting recession within the international tourism industry. A plausible explanation for the ability of the industry to recover and recoup quickly is that tourism exp ...
Principles of Economic Growth
... Experiment 1: The saving rate What happens if the saving rate rises? The G line shifts up to G’ The equilibrium point moves north-east from A to B, at which economic growth is faster than before, as is technological progress ...
... Experiment 1: The saving rate What happens if the saving rate rises? The G line shifts up to G’ The equilibrium point moves north-east from A to B, at which economic growth is faster than before, as is technological progress ...
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... open economy relative multiplier and assess how it relates to the closed economy aggregate multiplier for the United States. Using this framework, we show that our estimate for the open economy relative multiplier favors models in which demand shocks can have large effects on output. Our estimates l ...
... open economy relative multiplier and assess how it relates to the closed economy aggregate multiplier for the United States. Using this framework, we show that our estimate for the open economy relative multiplier favors models in which demand shocks can have large effects on output. Our estimates l ...
Ch 5: Economic Growth, Business Cycles
... Recessions and expansions are caused primarily by the demand side of the economy. ...
... Recessions and expansions are caused primarily by the demand side of the economy. ...
Effectiveness of the Australian Fiscal Stimulus Package
... The model is estimated with a Bayesian approach, using pre-crisis Australian data (1993-2007). The estimated model implies impulse response functions to the four exogenous shocks that are consistent with economic intuition. A cumulative fiscal multiplier is also computed to further ...
... The model is estimated with a Bayesian approach, using pre-crisis Australian data (1993-2007). The estimated model implies impulse response functions to the four exogenous shocks that are consistent with economic intuition. A cumulative fiscal multiplier is also computed to further ...
The Political Economy of Government Debt
... deficits during recessions, but the political process did not permit countervailing surpluses and cuts during expansion creating a ratchet effect on the size of government and persistent deficits. Given the extensive discussion of deficit, the pros and cons of austerity policies in the US and Europe ...
... deficits during recessions, but the political process did not permit countervailing surpluses and cuts during expansion creating a ratchet effect on the size of government and persistent deficits. Given the extensive discussion of deficit, the pros and cons of austerity policies in the US and Europe ...
MerCAtUS reSeArCh A MArket-Driven noMinAl GDP tArGetinG reGiMe
... approach to monetary policy, but rather that these policy recommendations are based on fundamentally distinct ways of thinking about monetary economics in general. Indeed, it is not clear that the preceding five economists would even agree on what is meant by the term “monetary policy.” Friedman and ...
... approach to monetary policy, but rather that these policy recommendations are based on fundamentally distinct ways of thinking about monetary economics in general. Indeed, it is not clear that the preceding five economists would even agree on what is meant by the term “monetary policy.” Friedman and ...
Aggregate Demand and Aggregate Supply Analysis
... c. Except during periods when workers and firms expect high rates of inflation, the aggregate supply curve will be shifting to the right. The dynamic aggregate demand and aggregate supply model allows us to analyze macroeconomic conditions, including the recovery from the 2001 ...
... c. Except during periods when workers and firms expect high rates of inflation, the aggregate supply curve will be shifting to the right. The dynamic aggregate demand and aggregate supply model allows us to analyze macroeconomic conditions, including the recovery from the 2001 ...
Inflation Targeting in South Africa: A VAR Analysis
... Debelle and Fisher (1994)) have focused on the transparency of the targeting procedure and the extent to which the procedure can make the central bank accountable for its actions.2 Greater transparency and accountability increase credibility, but they decrease a central bank’s flexibility in respond ...
... Debelle and Fisher (1994)) have focused on the transparency of the targeting procedure and the extent to which the procedure can make the central bank accountable for its actions.2 Greater transparency and accountability increase credibility, but they decrease a central bank’s flexibility in respond ...
Medium Term Business Cycles in Developing Countries
... FDI also allows us to capture realistically the nature of capital ‡ows to developing countries, of which, since 1990, 70% have been in the form of FDI (Loayza and Serven, 2006).2 It is well known (e.g. Comin and Hobijn, 2010) that developing countries adopt new technologies with signi…cant time lag ...
... FDI also allows us to capture realistically the nature of capital ‡ows to developing countries, of which, since 1990, 70% have been in the form of FDI (Loayza and Serven, 2006).2 It is well known (e.g. Comin and Hobijn, 2010) that developing countries adopt new technologies with signi…cant time lag ...
FINDING NEW LINKS – FISHER’S EQUATION OF SOCIETARY CIRCULATION M
... flexible, meaning that T would adjust, absorbing some of the changes on the left-hand side of the equation of exchange. Fisher also discusses non-neutralities of real interest rate movements on the real economy; however, these transitional effects are not emphasised, so as not to detract from his co ...
... flexible, meaning that T would adjust, absorbing some of the changes on the left-hand side of the equation of exchange. Fisher also discusses non-neutralities of real interest rate movements on the real economy; however, these transitional effects are not emphasised, so as not to detract from his co ...
Estimating the potential output of the New Zealand economy
... (GST). The increase in output was, to a large extent, reversed at the end of 1986 after the GST had been introduced. This pattern of change to real output does not cause a substantial increase in the HP trend because the HP filter identifies the initial increase in output as temporary. In contrast, ...
... (GST). The increase in output was, to a large extent, reversed at the end of 1986 after the GST had been introduced. This pattern of change to real output does not cause a substantial increase in the HP trend because the HP filter identifies the initial increase in output as temporary. In contrast, ...
chapter overview - Amazon Web Services
... The Relationship of the Aggregate Demand Curve to the Aggregate Expenditures Model A. Deriving AD-curve from aggregate expenditures model. (See Appendix Figure 1) 1. Both models measure real GDP on horizontal axis. 2. Suppose initial price level is P1 and aggregate expenditures AE1 as shown in Appen ...
... The Relationship of the Aggregate Demand Curve to the Aggregate Expenditures Model A. Deriving AD-curve from aggregate expenditures model. (See Appendix Figure 1) 1. Both models measure real GDP on horizontal axis. 2. Suppose initial price level is P1 and aggregate expenditures AE1 as shown in Appen ...
Chapter 1: The Scope and Method of Economics
... fallacy refers to a common error made in thinking about causation: If event A happened before event B, it is not necessarily true that A caused B. • The fallacy of composition is the ...
... fallacy refers to a common error made in thinking about causation: If event A happened before event B, it is not necessarily true that A caused B. • The fallacy of composition is the ...
The relevance of Keynes
... making investment more ‘liquid’, the stock market reduces the proportion of their resources that people will want to hold in cash. Other things being equal, it serves to increase the volume of real investment (accumulation of capital). But by the same token it enlarges the scope for speculation and ...
... making investment more ‘liquid’, the stock market reduces the proportion of their resources that people will want to hold in cash. Other things being equal, it serves to increase the volume of real investment (accumulation of capital). But by the same token it enlarges the scope for speculation and ...