Working Paper 160 - Infrastructure Investment and Economic Growth
... hand, public intervention and the application of non-efficiency investment criteria were very intense in large network construction while on the other hand, returns to new investment in large networks might have decreased dramatically once the basic links were constructed. Furthermore, statistical e ...
... hand, public intervention and the application of non-efficiency investment criteria were very intense in large network construction while on the other hand, returns to new investment in large networks might have decreased dramatically once the basic links were constructed. Furthermore, statistical e ...
Learning from Prices: Amplification and Sentiments ∗ Ryan Chahrour
... lead consumers to become unduly optimistic about their economic prospects. Initial optimism causes consumers to demand more goods, further increasing prices beyond their full-information level. The self-reinforcing nature of this feedback loop leads to equilibria in which small initial shocks to sup ...
... lead consumers to become unduly optimistic about their economic prospects. Initial optimism causes consumers to demand more goods, further increasing prices beyond their full-information level. The self-reinforcing nature of this feedback loop leads to equilibria in which small initial shocks to sup ...
Dynamic Change, Economic Fluctuations, and the AD
... Copyright ©2017 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
... Copyright ©2017 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
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... Adjustment to Equilibrium The adjustment process will continue as long as output (income) is not equal to planned aggregate expenditure. ...
... Adjustment to Equilibrium The adjustment process will continue as long as output (income) is not equal to planned aggregate expenditure. ...
Fiscal Divergence and Business Cycle Synchronization
... Stock-Yogo (2004) have shown that weak instruments can produced biased IV estimators and hypothesis tests with large size distortions ...
... Stock-Yogo (2004) have shown that weak instruments can produced biased IV estimators and hypothesis tests with large size distortions ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: NBER Macroeconomics Annual 1986, Volume 1
... financial aggregates to improve macroeconomic performance became virtually synonymous with macroeconomics and, rightly or wrongly, was credited with the quarter-century of strong stable economic growth that followed World War II. When, after an initial period of success, activist Keynesian policies ...
... financial aggregates to improve macroeconomic performance became virtually synonymous with macroeconomics and, rightly or wrongly, was credited with the quarter-century of strong stable economic growth that followed World War II. When, after an initial period of success, activist Keynesian policies ...
EMPLOYMENT AND UNEMPLOYMENT
... 2. Joe performed 15 hours of unpaid work on his family farm. He would be considered to be an ____________ person, according to the BLS. 3. Marwan lost his job as an airline mechanic, and has been sending out his resume to other potential employers. He would be willing to start working in a new job i ...
... 2. Joe performed 15 hours of unpaid work on his family farm. He would be considered to be an ____________ person, according to the BLS. 3. Marwan lost his job as an airline mechanic, and has been sending out his resume to other potential employers. He would be willing to start working in a new job i ...
Chapter 23 Employment and Unemployment
... 2. Joe performed 15 hours of unpaid work on his family farm. He would be considered to be an ____________ person, according to the BLS. 3. Marwan lost his job as an airline mechanic, and has been sending out his resume to other potential employers. He would be willing to start working in a new job i ...
... 2. Joe performed 15 hours of unpaid work on his family farm. He would be considered to be an ____________ person, according to the BLS. 3. Marwan lost his job as an airline mechanic, and has been sending out his resume to other potential employers. He would be willing to start working in a new job i ...
Module 19 Equilibrium in the Aggregate Demand
... reality there is a long-term upward trend in both aggregate output and the aggregate price level. We’ll assume that a fall in either variable really means a fall compared to the long-run trend. For example, if the aggregate price level normally rises 4% per year, a year in which the aggregate price ...
... reality there is a long-term upward trend in both aggregate output and the aggregate price level. We’ll assume that a fall in either variable really means a fall compared to the long-run trend. For example, if the aggregate price level normally rises 4% per year, a year in which the aggregate price ...
ExamView - Untitled.tst
... ____ 14. During 1998, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland a. there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative. b. the po ...
... ____ 14. During 1998, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland a. there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative. b. the po ...
Mod 6.1: Monetary Policy
... They would further agree that the short-term affects, about the first 9 months, will be responses in output and employment, with inflation following at about 18 months out. However, they differ in their views of the role of monetary policy. Keynesians believe that the central bank should have discre ...
... They would further agree that the short-term affects, about the first 9 months, will be responses in output and employment, with inflation following at about 18 months out. However, they differ in their views of the role of monetary policy. Keynesians believe that the central bank should have discre ...
Document
... Thomson Learning™ is a trademark used herein under license. ALL RIGHTS RESERVED. Instructors of classes adopting EXPLORING ECONOMICS, 3rd Edition by Robert L. Sexton as an assigned textbook may reproduce material from this publication for classroom use or in a secure electronic network environment t ...
... Thomson Learning™ is a trademark used herein under license. ALL RIGHTS RESERVED. Instructors of classes adopting EXPLORING ECONOMICS, 3rd Edition by Robert L. Sexton as an assigned textbook may reproduce material from this publication for classroom use or in a secure electronic network environment t ...
A Post-Keynesian Response to Piketty`s “Fundamental Contradiction
... return is neither a rate of interest nor a rate of profit, but rather an average rate of return on the total capital of the economy. How do all these laws fit into a coherent explanation of capitalism? Summers (2014) provides a concise summary about the place of the laws in Piketty’s argument: ‘[h]i ...
... return is neither a rate of interest nor a rate of profit, but rather an average rate of return on the total capital of the economy. How do all these laws fit into a coherent explanation of capitalism? Summers (2014) provides a concise summary about the place of the laws in Piketty’s argument: ‘[h]i ...
Has Policy Uncertainty Slowed the Recovery?
... US index is similar to the VIX index of 1 month implied S&P500 stock market volatility, but not the same ...
... US index is similar to the VIX index of 1 month implied S&P500 stock market volatility, but not the same ...
Should the European Central Bank and the
... concerned that high interest rates would slow economic growth. When the ECB first came to power, several finance ministers called for a competitive exchange rate; this was implicitly a call for looser monetary policy. (The Maastricht Treaty allows the Council of Ministers to adopt “general orientati ...
... concerned that high interest rates would slow economic growth. When the ECB first came to power, several finance ministers called for a competitive exchange rate; this was implicitly a call for looser monetary policy. (The Maastricht Treaty allows the Council of Ministers to adopt “general orientati ...
a critical review of the literature on integrated macro
... analysis. It intended to be a general-purpose model, though not a panacea for all policy problems. The simultaneous core of the CANDIDE Model 1.0 contained more than 1000 non-linear equations and the entire model contained more than 1500 equations, which requires the use of high-speed computational ...
... analysis. It intended to be a general-purpose model, though not a panacea for all policy problems. The simultaneous core of the CANDIDE Model 1.0 contained more than 1000 non-linear equations and the entire model contained more than 1500 equations, which requires the use of high-speed computational ...
Biographical Information Curriculum Vitae of Willem H. Buiter General
... 1982 Specialist Adviser, House of Commons Select Service Committee of the Treasury and Civil Service, Enquiry into International Monetary Arrangements. ...
... 1982 Specialist Adviser, House of Commons Select Service Committee of the Treasury and Civil Service, Enquiry into International Monetary Arrangements. ...
Submitted Article What is the Future of Agricultural Economics
... declined from 46 in 1991 to 29 in 2006, with 25 of these 29 departments located at land-grant universities. Much of the loss in agricultural economics is simply a shift to degrees in agribusiness.3 This shift has been ongoing since the 1970s, but it has become very pronounced in the 2000s. Agribusin ...
... declined from 46 in 1991 to 29 in 2006, with 25 of these 29 departments located at land-grant universities. Much of the loss in agricultural economics is simply a shift to degrees in agribusiness.3 This shift has been ongoing since the 1970s, but it has become very pronounced in the 2000s. Agribusin ...
US Economics: Potential GDP and Its Implications
... takes a longer moving average of the unemployment rate as a proxy for the natural rate, and asks what real GDP would have been with unemployment at its natural, rather than actual, rate. This prediction is an approximation of the level of potential output. Exhibit 1 shows this moving estimate of the ...
... takes a longer moving average of the unemployment rate as a proxy for the natural rate, and asks what real GDP would have been with unemployment at its natural, rather than actual, rate. This prediction is an approximation of the level of potential output. Exhibit 1 shows this moving estimate of the ...
On the Macroeconomic Determinants of the Housing Market in Greece: A VECM Approach
... 2009). Hardouvelis (2009) argues that investing in the housing market was for the Greek household a form of saving. Homeownership rate reaches 73.2% (Fig.1) while 81.5% of the Greek household assets are related to housing. The housing investments reached their peak in 2006 representing 11.8% of GDP ...
... 2009). Hardouvelis (2009) argues that investing in the housing market was for the Greek household a form of saving. Homeownership rate reaches 73.2% (Fig.1) while 81.5% of the Greek household assets are related to housing. The housing investments reached their peak in 2006 representing 11.8% of GDP ...
sample - Test Bank Corp
... 20) In a natural monopoly, prices tend to be government-regulated. Answer: TRUE Explanation: Natural monopolies occur in industries in which one company can efficiently supply all needed goods or services. Since they have little or no competition, their prices have to be regulated so that consumers ...
... 20) In a natural monopoly, prices tend to be government-regulated. Answer: TRUE Explanation: Natural monopolies occur in industries in which one company can efficiently supply all needed goods or services. Since they have little or no competition, their prices have to be regulated so that consumers ...