Rudiger Dornbusch Working Paper No. i66
... ministers later, stability is a prospect far removed and the traditional conflicts about real wages; distribution, and inflation remain topical and are further complicated by an external debt crisis. In late 1983 production of manufactures and real GDP were still at ...
... ministers later, stability is a prospect far removed and the traditional conflicts about real wages; distribution, and inflation remain topical and are further complicated by an external debt crisis. In late 1983 production of manufactures and real GDP were still at ...
Economic Systems of OECD Nations: Impact and Evolution
... by Bruce Maxwell and described in Maxwell, Pryor, and Smith, 2002) allows an easy calculation of the MDL over a range of numbers of clusters. Once the optimal number of clusters (the number of economic systems) is selected, the program prints out the list of economies in each, as well as certain pro ...
... by Bruce Maxwell and described in Maxwell, Pryor, and Smith, 2002) allows an easy calculation of the MDL over a range of numbers of clusters. Once the optimal number of clusters (the number of economic systems) is selected, the program prints out the list of economies in each, as well as certain pro ...
NBER WORKING PAPER SERIES LOCAL DEFICITS AND LOCAL JOBS:
... . (L)ocal government cannot use conventional stabilization tools to much effect and must instead rely mainly on beggar-thy-neighbor policies, which from a national standpoint are likely to produce far from the desired results. The central government, on the other hand, is free to adopt monetary poli ...
... . (L)ocal government cannot use conventional stabilization tools to much effect and must instead rely mainly on beggar-thy-neighbor policies, which from a national standpoint are likely to produce far from the desired results. The central government, on the other hand, is free to adopt monetary poli ...
Keynesian Economics Bad
... experience during the early 1990s. In an attempt to restart the Japanese economy, repeated fiscal stimuli were applied. But monetary policy remained "tight," and the economy remained in the doldrums. Prof. Friedman's second example was the U.S. experience during the 1990s. When President Clinton ent ...
... experience during the early 1990s. In an attempt to restart the Japanese economy, repeated fiscal stimuli were applied. But monetary policy remained "tight," and the economy remained in the doldrums. Prof. Friedman's second example was the U.S. experience during the 1990s. When President Clinton ent ...
A New Look at China`s Output Fluctuations: Quarterly GDP
... ―China moves to centre stage‖ ----Cover story, Economist, Oct. 30, 2008 In the past three decades, China has emerged as one of the most important and influential ...
... ―China moves to centre stage‖ ----Cover story, Economist, Oct. 30, 2008 In the past three decades, China has emerged as one of the most important and influential ...
Política monetaria en un entorno de dos monedas
... check payments made in dollars as a proxy measure for transaction dollarization2 . Given the nonnegligible importance of transaction dollarization, developing an analytical framework to explore its implications for monetary policy will be useful for central bankers that operate in such an environme ...
... check payments made in dollars as a proxy measure for transaction dollarization2 . Given the nonnegligible importance of transaction dollarization, developing an analytical framework to explore its implications for monetary policy will be useful for central bankers that operate in such an environme ...
NBER WORKING PAPER SERIES STABILIZATION POLICIES IN OPEN ECONOMIES Richard C. Marston
... 2.3. Fixed exchange rates With fixed exchange rates, the trade balance directly affects output in equation (2.1), so the effects of domestic policy are modified by interaction ...
... 2.3. Fixed exchange rates With fixed exchange rates, the trade balance directly affects output in equation (2.1), so the effects of domestic policy are modified by interaction ...
Aggregate Demand and Supply Analysis
... factors—fiscal policy, net exports, and “animal spirits”—are equally important sources of shifts in the aggregate demand curve. Because aggregate demand can be written as the sum of C I G NX, it might appear that any factor affecting one of its components must cause aggregate demand to change. ...
... factors—fiscal policy, net exports, and “animal spirits”—are equally important sources of shifts in the aggregate demand curve. Because aggregate demand can be written as the sum of C I G NX, it might appear that any factor affecting one of its components must cause aggregate demand to change. ...
NBER WORKING PAPER SERIES MONETARY-FISCAL POLICY INTERACTIONS BEYOND
... changes on the economy. Microeconomic public finance economists should care about the fiscal theory because it identifies a new channel by which fiscal policies can affect economic activity. This channel is typically absent from both micro and macro models of taxation. Whether the channel shows up en ...
... changes on the economy. Microeconomic public finance economists should care about the fiscal theory because it identifies a new channel by which fiscal policies can affect economic activity. This channel is typically absent from both micro and macro models of taxation. Whether the channel shows up en ...
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... According to the second school of thought, the present degree of political unification reached in the EU is sufficient to guarantee the long-run survival of the monetary union. In this view, the eurozone can survive even if the EU does not become a federal state like the United States of America. Th ...
... According to the second school of thought, the present degree of political unification reached in the EU is sufficient to guarantee the long-run survival of the monetary union. In this view, the eurozone can survive even if the EU does not become a federal state like the United States of America. Th ...
Credit Spreads and the Severity of Financial Crises Arvind Krishnamurthy Tyler Muir
... on Jorda et al. (2010), is one way to measure fragility. Thus we have two cases. A crisis as de…ned in the literature, i;t > , is a case where fragility is high and there a large surprise. In other cases, where there is less fragility, the surprise results in losses but does not pass through to the ...
... on Jorda et al. (2010), is one way to measure fragility. Thus we have two cases. A crisis as de…ned in the literature, i;t > , is a case where fragility is high and there a large surprise. In other cases, where there is less fragility, the surprise results in losses but does not pass through to the ...
Chapter 1: Introduction
... output—falls by some five percent. Five percent is about four years worth of growth in output per worker. Moreover, recessions are not permanent; with rare exceptions, they are over in a year or two and are followed by periods of rapid growth that return real GDP to its pre-recession growth trend. E ...
... output—falls by some five percent. Five percent is about four years worth of growth in output per worker. Moreover, recessions are not permanent; with rare exceptions, they are over in a year or two and are followed by periods of rapid growth that return real GDP to its pre-recession growth trend. E ...
Introduction - Monash University
... enabling measures of yield to be developed based on estimates of Gross Operating Surplus of tourism characteristic and connected industries. Using this method, Collins, Salma and Suridge (2004) produced estimates of tourism GOS per visitor for several special interest Australian inbound markets. How ...
... enabling measures of yield to be developed based on estimates of Gross Operating Surplus of tourism characteristic and connected industries. Using this method, Collins, Salma and Suridge (2004) produced estimates of tourism GOS per visitor for several special interest Australian inbound markets. How ...
CHAPTER 24: Aggregate Demand and Aggregate Supply Analysis
... © 2006 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien—1st ed. ...
... © 2006 Prentice Hall Business Publishing Economics R. Glenn Hubbard, Anthony Patrick O’Brien—1st ed. ...
A Level Economics Mark Scheme Unit 2 JAN 2012
... understands and applies it in the same correct way. As preparation for standardisation each examiner analyses a number of students’ scripts: alternative answers not already covered by the mark scheme are discussed and legislated for. If, after the standardisation process, examiners encounter unusual ...
... understands and applies it in the same correct way. As preparation for standardisation each examiner analyses a number of students’ scripts: alternative answers not already covered by the mark scheme are discussed and legislated for. If, after the standardisation process, examiners encounter unusual ...
