NBER WORKING PAPER SERIES REAL BUSINESS CYCLE MODELS: PAST, PRESENT, AND FUTURE
... macroeconomics research agenda of the last two decades. The wave of models that first followed Kydland and Prescott’s (1982) work were referred to as “real business cycle” models because of their emphasis on the role of real shocks, particularly technology shocks, in driving business fluctuations. B ...
... macroeconomics research agenda of the last two decades. The wave of models that first followed Kydland and Prescott’s (1982) work were referred to as “real business cycle” models because of their emphasis on the role of real shocks, particularly technology shocks, in driving business fluctuations. B ...
Problem Set 7 FE312 Fall 2011 Rahman Some Answers 1
... restoring the original equilibrium point. b) An exogenous increase in the price of oil. An exogenous increase in the price of oil is an adverse supply shock that causes the short-run aggregate supply curve to shift upward. ...
... restoring the original equilibrium point. b) An exogenous increase in the price of oil. An exogenous increase in the price of oil is an adverse supply shock that causes the short-run aggregate supply curve to shift upward. ...
No: 2012 – 56 Release date: 27 November 2012
... Committee (Committee) stated that confidence indices are yet to improve and the uncertainties in external financial markets may put a cap on the economic activity. 8. The latest data confirm that the rebalancing between the domestic and external demand continues as envisaged. While imports declined ...
... Committee (Committee) stated that confidence indices are yet to improve and the uncertainties in external financial markets may put a cap on the economic activity. 8. The latest data confirm that the rebalancing between the domestic and external demand continues as envisaged. While imports declined ...
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... pumping massive liquidity into credit markets and working with finance ministries to prop up, sustain and nationalize major financial institutions. Nearly every government in Asia, Europe and North America is pursuing some vigorous form of Keynesian fiscal stimulus, defined generally as debt finance ...
... pumping massive liquidity into credit markets and working with finance ministries to prop up, sustain and nationalize major financial institutions. Nearly every government in Asia, Europe and North America is pursuing some vigorous form of Keynesian fiscal stimulus, defined generally as debt finance ...
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... 2-4. Why is the economic concept of scarcity a crucial concept for businesspeople to understand? The economic concept of scarcity is a crucial concept for businesspeople to understand because scarcity creates competition for resources and forces tradeoffs on the part of every participant in the econ ...
... 2-4. Why is the economic concept of scarcity a crucial concept for businesspeople to understand? The economic concept of scarcity is a crucial concept for businesspeople to understand because scarcity creates competition for resources and forces tradeoffs on the part of every participant in the econ ...
Article for Newcastle Journal
... Fighting poverty in London is as important as fighting poverty in the North East – but the way in which it is done must be different in these two areas. London does have areas of extreme deprivation, often right next to areas of extreme wealth, but this does not (despite what the Government were arg ...
... Fighting poverty in London is as important as fighting poverty in the North East – but the way in which it is done must be different in these two areas. London does have areas of extreme deprivation, often right next to areas of extreme wealth, but this does not (despite what the Government were arg ...
Slides - Penn Economics
... cyclical dynamics and support normative analysis Why? Efficient Markets Hypothesis (EMH) behind the scenes: market clearing and RE guarantee that all information is efficiently used. No need to explicitly model financial sector… …nonetheless, significant work on financial factors in pre-crisis N ...
... cyclical dynamics and support normative analysis Why? Efficient Markets Hypothesis (EMH) behind the scenes: market clearing and RE guarantee that all information is efficiently used. No need to explicitly model financial sector… …nonetheless, significant work on financial factors in pre-crisis N ...
econ 325 radical economics
... • Capital development is accompanied by exchanges of present money for future money – “Present money” pays for resources into production of investment output; “Future money” is the profits accruing to capitalasset owning firms – Control over capital stock is financed by ...
... • Capital development is accompanied by exchanges of present money for future money – “Present money” pays for resources into production of investment output; “Future money” is the profits accruing to capitalasset owning firms – Control over capital stock is financed by ...
La congiuntura e le prospettive
... cyclical dynamics and support normative analysis Why? Efficient Markets Hypothesis (EMH) behind the scenes: market clearing and RE guarantee that all information is efficiently used. No need to explicitly model financial sector… …nonetheless, significant work on financial factors in pre-crisis N ...
... cyclical dynamics and support normative analysis Why? Efficient Markets Hypothesis (EMH) behind the scenes: market clearing and RE guarantee that all information is efficiently used. No need to explicitly model financial sector… …nonetheless, significant work on financial factors in pre-crisis N ...
Economic Policy ALM Voiceover Script Slide 1: Economic Policy
... economy, such that there is no growth over a long period of time. Government seeks to influence the economy at each of these points in the cycle; however, there is a special policy in which the government can be limited, thus allowing the free market to improve on its own. This is sometimes referred ...
... economy, such that there is no growth over a long period of time. Government seeks to influence the economy at each of these points in the cycle; however, there is a special policy in which the government can be limited, thus allowing the free market to improve on its own. This is sometimes referred ...
Module Long-run Economic Growth
... level. This is the size of the pie after adjusting for inflation. • Real GDP per capita because we want to isolate the effect of changes in the population. This gives us the size of each person’s slice of the pie, if it were shared ...
... level. This is the size of the pie after adjusting for inflation. • Real GDP per capita because we want to isolate the effect of changes in the population. This gives us the size of each person’s slice of the pie, if it were shared ...
From Shared Sacrifices to Constructive Contributions - Some Controversial Governmental, Corporate and Consumer Challenges (When Most of the Western World Is in Economic Troubles)
... much of the value added portion of the final prices went to pay for production and distribution costs in foreign countries and (b) much of the domestically added portion of the value created that led to the constitution of the final product prices was associated with shuffling the product among var ...
... much of the value added portion of the final prices went to pay for production and distribution costs in foreign countries and (b) much of the domestically added portion of the value created that led to the constitution of the final product prices was associated with shuffling the product among var ...
Presentation to The Forecasters Club New York, New York
... remains in check. Despite all this, I expect the economic expansion to gain momentum this year and over the next few years. In fact, I am cautiously hopeful that we could be at a point where the economy really starts to shake off its doldrums. The improvement partly reflects the effects of Fed mone ...
... remains in check. Despite all this, I expect the economic expansion to gain momentum this year and over the next few years. In fact, I am cautiously hopeful that we could be at a point where the economy really starts to shake off its doldrums. The improvement partly reflects the effects of Fed mone ...
Extract from Economic and Structural Report
... In much of the corporate sector, we expect relatively positive development. The growth rate for Swedish exports will decline, but is still decent. Corporate investments are slowing, and in the housing sector they are falling after several years of rapid growth. Because of weak productivity growth, c ...
... In much of the corporate sector, we expect relatively positive development. The growth rate for Swedish exports will decline, but is still decent. Corporate investments are slowing, and in the housing sector they are falling after several years of rapid growth. Because of weak productivity growth, c ...
THE ECONOMICS OF CORRUPTION IN DEVELOPING COUNTRIES Ramchandra Akkihal
... groups of people, the allocative inefficiency present in the short run may not be eliminated--or even reduced. Indeed, the extent of inefficiency could rise, given the adverse selection problem discussed above. Potential Real GDP in the economy would therefore continue to fall in the long run, along ...
... groups of people, the allocative inefficiency present in the short run may not be eliminated--or even reduced. Indeed, the extent of inefficiency could rise, given the adverse selection problem discussed above. Potential Real GDP in the economy would therefore continue to fall in the long run, along ...
(+) deficit (–) or surplus(+) fiscal policy
... 5. Explain the effect of a discretionary increase in government spending of $50 billion on the economy when the economy’s marginal propensity to consume is .75. By how much is output likely to expand if the economy is operating in the horizontal range of its aggregate supply curve and there are no c ...
... 5. Explain the effect of a discretionary increase in government spending of $50 billion on the economy when the economy’s marginal propensity to consume is .75. By how much is output likely to expand if the economy is operating in the horizontal range of its aggregate supply curve and there are no c ...
91403 Sample Assessment Schedule
... an increase in investment in capital goods and also increased consumer spending by consumers. Both are components of AD. An increase in AD leads to an increase in output in the economy which is economic growth. ...
... an increase in investment in capital goods and also increased consumer spending by consumers. Both are components of AD. An increase in AD leads to an increase in output in the economy which is economic growth. ...
Press Release (PDF, 228 KB)
... economic situation. Expectations for the next six months remain confident. In contrast to the last WES survey, on the other hand, there are few indications of the economy gaining any momentum in Asia. Although assessments of the current economic situation in the region remained satisfactory, economi ...
... economic situation. Expectations for the next six months remain confident. In contrast to the last WES survey, on the other hand, there are few indications of the economy gaining any momentum in Asia. Although assessments of the current economic situation in the region remained satisfactory, economi ...
Fiscal Policy Notes
... The President may not follow the advice of the Council of Economics advisors due to political issues (like reelection). Challenge Questions!!!! 1. Despite what economic advisors say, would a president who is up for reelection be more inclined to increase taxes or cut taxes? Cut taxes 2. Expansionary ...
... The President may not follow the advice of the Council of Economics advisors due to political issues (like reelection). Challenge Questions!!!! 1. Despite what economic advisors say, would a president who is up for reelection be more inclined to increase taxes or cut taxes? Cut taxes 2. Expansionary ...