NBER WORKING PAPER SERIES MONETARIST INTERPRETATIONS OF THE GREAT DEPRESSION:
... The paper takes the intermediate view that ...
... The paper takes the intermediate view that ...
Has M2 Demand Become Unstable?
... that the yield curve variable is significant in a money demand regression that includes post-1989 data, but not pre-1989 data. Such a money demand regression can account for most of the “unexplained” weakness of M2 during the current period. This result is consistent with the hypothesis that M2 dema ...
... that the yield curve variable is significant in a money demand regression that includes post-1989 data, but not pre-1989 data. Such a money demand regression can account for most of the “unexplained” weakness of M2 during the current period. This result is consistent with the hypothesis that M2 dema ...
As real as real - Dmitri Williams
... hyperinflation of 1922-1923, money supply was vastly increased in a very short span of time, and the price level rapidly increased as well (Paarlberg 1992). In general, economies usually have relatively stable prices. Contemporary economists debate the extent to which the Quantity Theory of Money ho ...
... hyperinflation of 1922-1923, money supply was vastly increased in a very short span of time, and the price level rapidly increased as well (Paarlberg 1992). In general, economies usually have relatively stable prices. Contemporary economists debate the extent to which the Quantity Theory of Money ho ...
0538453672_298496
... • Lags in stabilization policy – Long and unpredictable lags – Short and reliable lags © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on ...
... • Lags in stabilization policy – Long and unpredictable lags – Short and reliable lags © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on ...
solving the productivity conundrum
... technical progress, which may have changed profoundly. Technology has strengthened the winner-takes-all dynamic, with one dominant firm or group of firms in each market. Success depends on the ability to harness factors such as innovation, skills, effective management, marketing and sourcing. This ens ...
... technical progress, which may have changed profoundly. Technology has strengthened the winner-takes-all dynamic, with one dominant firm or group of firms in each market. Success depends on the ability to harness factors such as innovation, skills, effective management, marketing and sourcing. This ens ...
Productive Government Expenditure and Economic
... of welfare. To accomplish this, we have to focus on endogenous growth models where variations in fiscal policy parameters may have an effect on long-run growth.1 To the best of our knowledge, Barro (1990) is the seminal paper in this field. It introduces government expenditure as a public good into ...
... of welfare. To accomplish this, we have to focus on endogenous growth models where variations in fiscal policy parameters may have an effect on long-run growth.1 To the best of our knowledge, Barro (1990) is the seminal paper in this field. It introduces government expenditure as a public good into ...
File - Ms. Perez-Family and Consumer Sciences
... List 3 advantages and 3 disadvantages of the system ...
... List 3 advantages and 3 disadvantages of the system ...
Measuring Systematic Monetary Policy
... 1982) convinced many macroeconomists that monetary shocks could not account for business cycles. If money were neutral in the long-run it could not induce permanent changes in real variables. Yet real output was, in fact, dominated by a non-stationary component, suggesting that real rather than mone ...
... 1982) convinced many macroeconomists that monetary shocks could not account for business cycles. If money were neutral in the long-run it could not induce permanent changes in real variables. Yet real output was, in fact, dominated by a non-stationary component, suggesting that real rather than mone ...
The macroeconomic effects of a pandemic in Europe
... there is no strict pandemic periodicity.6 In our view, history shows that the risks are real. Hence, we believe there is a need for policy-makers to have estimates of the possible – although not likely or certain – economic effects of a future pandemic in Europe. 3. The macroeconomic effects of a p ...
... there is no strict pandemic periodicity.6 In our view, history shows that the risks are real. Hence, we believe there is a need for policy-makers to have estimates of the possible – although not likely or certain – economic effects of a future pandemic in Europe. 3. The macroeconomic effects of a p ...
Neoliberal Economic Policies and Post- Conflict Peace
... illustrated by the progressive merger of the International Development and Security disciplines (Duffield 2001, Kaldor 1999). Poverty increases a country’s propensity toward conflict and conflict undermines development and recovery from poverty. The two are mutually reinforcing and both must be deal ...
... illustrated by the progressive merger of the International Development and Security disciplines (Duffield 2001, Kaldor 1999). Poverty increases a country’s propensity toward conflict and conflict undermines development and recovery from poverty. The two are mutually reinforcing and both must be deal ...
I Is Inflation Dead?
... women’s unemployment rates have dropped to nearequality with those of similarly aged men. Given these differences in normal unemployment rates, two time periods sharing a 6 percent unemployment rate could have very different pressures on wages. If one period had a higher proportion of younger or fem ...
... women’s unemployment rates have dropped to nearequality with those of similarly aged men. Given these differences in normal unemployment rates, two time periods sharing a 6 percent unemployment rate could have very different pressures on wages. If one period had a higher proportion of younger or fem ...
MANUFACTURING INDUSTRY AND ECONOMIC GROWTH IN LATIN AMERICA: A KALDORIAN APPROACH ABSTRACT
... experienced twenty years of very low growth. Most of the countries in the region have since the late eighties undertaken an important process of trade and financial liberalization, but this has not yet been effective in delivering the high growth rates observed in the “golden age”. In particular, th ...
... experienced twenty years of very low growth. Most of the countries in the region have since the late eighties undertaken an important process of trade and financial liberalization, but this has not yet been effective in delivering the high growth rates observed in the “golden age”. In particular, th ...
NBER WORKING PAPER SERIES DISTANCE TO FRONTIER, SELECTION, AND ECONOMIC GROWTH
... At the heart of our analysis is the trade-off between investment-based and innovationbased strategies, which is founded on three ingredients: (1) Experienced managers and incumbent firms can undertake larger investments, and everything else equal, achieve greater technological improvements and produ ...
... At the heart of our analysis is the trade-off between investment-based and innovationbased strategies, which is founded on three ingredients: (1) Experienced managers and incumbent firms can undertake larger investments, and everything else equal, achieve greater technological improvements and produ ...
NBER WORKING PAPER SERIES PRODUCTIVITY AND THE EURO-DOLLAR EXCHANGE RATE PUZZLE
... Chinn, 1997), which makes it difficult to appeal to measurement error in explaining this finding. Even assuming that both the relative price variable and the broad productivity indices mismeasure the relevant tradable/nontradable productivity differential, the observed elasticity is still more than ...
... Chinn, 1997), which makes it difficult to appeal to measurement error in explaining this finding. Even assuming that both the relative price variable and the broad productivity indices mismeasure the relevant tradable/nontradable productivity differential, the observed elasticity is still more than ...
Macroeconomics: A Growth Theory Approach
... may impact the economy and how these shocks may impact the economic variables that matter for them (for example wages and interest rates). This assumption is called rational expectations in the macroeconomic literature. The information about the future that the agents possess can be key. As we will ...
... may impact the economy and how these shocks may impact the economic variables that matter for them (for example wages and interest rates). This assumption is called rational expectations in the macroeconomic literature. The information about the future that the agents possess can be key. As we will ...
NBER WORKING PAPER SERIES TEMPORARY SHOCKS AND UNAVOIDABLE TRANSITIONS
... the “European unemployment puzzle”. Obviously, a variety of institutional factors distinguishes Europe from the U.S., including strong unions, minimum wages, generous unemployment benefits, and high employment protection. These institutional distinctions cannot by themselves explain the differences i ...
... the “European unemployment puzzle”. Obviously, a variety of institutional factors distinguishes Europe from the U.S., including strong unions, minimum wages, generous unemployment benefits, and high employment protection. These institutional distinctions cannot by themselves explain the differences i ...
Household Debt and Fiscal Multipliers by J
... were those that prior to 2007 witnessed the highest increases in house prices and household leverage. In a fully specified dynamic model, Hall (2011) studies the response of output and unemployment when the economy is hit by adverse forces related to the stock of housing, the number of liquidity con ...
... were those that prior to 2007 witnessed the highest increases in house prices and household leverage. In a fully specified dynamic model, Hall (2011) studies the response of output and unemployment when the economy is hit by adverse forces related to the stock of housing, the number of liquidity con ...
If GT =0, Debt/GDP increases if the r > growth rate of GDP
... future which may lower private consumption today. 13 The life-cycle model: A mathematical example. ...
... future which may lower private consumption today. 13 The life-cycle model: A mathematical example. ...