Poland`s policy mix: fiscal or monetary leadership?
... monetary policy. Sargent and Wallace (1981) show that, in the long run, the rate of money growth is governed by fiscal policy, since persistent deficits will ultimately force the monetary authority to monetise debt. Alternatively, the government’s solvency condition could be satisfied through an inc ...
... monetary policy. Sargent and Wallace (1981) show that, in the long run, the rate of money growth is governed by fiscal policy, since persistent deficits will ultimately force the monetary authority to monetise debt. Alternatively, the government’s solvency condition could be satisfied through an inc ...
A survey of the effects of discretionary fiscal policy
... substitutes, a rise in government purchases may lead to higher consumption. The aforementioned wealth effect leads individuals to reduce leisure. However, because consumption and leisure are substitutes, the marginal utility of consumption increases and this has a positive effect consumption that ma ...
... substitutes, a rise in government purchases may lead to higher consumption. The aforementioned wealth effect leads individuals to reduce leisure. However, because consumption and leisure are substitutes, the marginal utility of consumption increases and this has a positive effect consumption that ma ...
Financialisation and the financial and economic crises: Theoretical
... countries under consideration, however, need to be examined more closely, as they do not clearly belong to either of the two groups. These are, namely, France, Hungary, Italy, Poland, Portugal, and Turkey. They all exhibit indicators of a domestic demand-led type of development as will be seen below ...
... countries under consideration, however, need to be examined more closely, as they do not clearly belong to either of the two groups. These are, namely, France, Hungary, Italy, Poland, Portugal, and Turkey. They all exhibit indicators of a domestic demand-led type of development as will be seen below ...
test #1 production possibilities / growth / circular flow
... c) there is unemployment at point T because workers in the watch industry are without jobs d) a technological improvement in the watch industry would move the economy from point T to point P e) the opportunity cost of moving from point S to point T is the number of watches given up 3) An economy tha ...
... c) there is unemployment at point T because workers in the watch industry are without jobs d) a technological improvement in the watch industry would move the economy from point T to point P e) the opportunity cost of moving from point S to point T is the number of watches given up 3) An economy tha ...
IKD Open University Research Centre on I
... failed to equip them with an understanding of how the rich nations got rich to be able to devise policies for the poor nations to be able to become more like the rich nations? In my view, a basic intellectual challenge for those concerned with the poverty of nations was and remains that of coming to ...
... failed to equip them with an understanding of how the rich nations got rich to be able to devise policies for the poor nations to be able to become more like the rich nations? In my view, a basic intellectual challenge for those concerned with the poverty of nations was and remains that of coming to ...
iv. the size and role of automatic fiscal stabilisers
... influence on economic activity. When this occurs, the negative effect on private spending operates to diminish or even to reverse the supportive effects of automatic fiscal stabilisers. Such confidence effects are not incorporated in INTERLINK and, therefore, not reflected in the results reported in ...
... influence on economic activity. When this occurs, the negative effect on private spending operates to diminish or even to reverse the supportive effects of automatic fiscal stabilisers. Such confidence effects are not incorporated in INTERLINK and, therefore, not reflected in the results reported in ...
Optimal monetary and fiscal policy in a currency union Journal of
... country-specific levels of public consumption, and by having the latter yield utility to domestic households. Finally, we model the currency union as being made up of a continuum of small open economies, subject to imperfectly correlated productivity shocks. That modelling choice stands in contrast w ...
... country-specific levels of public consumption, and by having the latter yield utility to domestic households. Finally, we model the currency union as being made up of a continuum of small open economies, subject to imperfectly correlated productivity shocks. That modelling choice stands in contrast w ...
View/ the full texst in PDF format
... In his second paper Kalecki studied the shape and peculiarities of the business cycle in the USA between 1956 and 1961. From his analysis he inferred: “The course of the business cycle in the USA in 1956-61 confirms the view that the capitalist economy still shows a tendency to go into recession, b ...
... In his second paper Kalecki studied the shape and peculiarities of the business cycle in the USA between 1956 and 1961. From his analysis he inferred: “The course of the business cycle in the USA in 1956-61 confirms the view that the capitalist economy still shows a tendency to go into recession, b ...
Institutional Factors in Domestic Inflation
... sustainable rate of unemployment) The coincidental upward movement in unemployment and prices, which gives the appearance of an upward sloping short-run Phillips curve is due to three developments: First, due in part to demographic changes in the population, U* has been increasing since the late 195 ...
... sustainable rate of unemployment) The coincidental upward movement in unemployment and prices, which gives the appearance of an upward sloping short-run Phillips curve is due to three developments: First, due in part to demographic changes in the population, U* has been increasing since the late 195 ...
Financial Structure and the Impact of Monetary Policy on Property
... crucial link through which adverse macroeconomic developments can cause financial instability. 1 Episodes of asset-price booms are seen by many as raising the risk of a future sharp “correction” of prices, which could have immediate repercussions on the stability of financial institutions. Indeed, m ...
... crucial link through which adverse macroeconomic developments can cause financial instability. 1 Episodes of asset-price booms are seen by many as raising the risk of a future sharp “correction” of prices, which could have immediate repercussions on the stability of financial institutions. Indeed, m ...
The politics of fiscal policy during economic downturns, 1981-2010
... albeit briefly, to deficit spending during the Great Recession of 2008-09. In light of this experience, it is time, we think, to bring macro-economic policy, and fiscal policy in particular, back to the center-stage of comparative political economy.1 Building on Pontusson and Raess (2012), this arti ...
... albeit briefly, to deficit spending during the Great Recession of 2008-09. In light of this experience, it is time, we think, to bring macro-economic policy, and fiscal policy in particular, back to the center-stage of comparative political economy.1 Building on Pontusson and Raess (2012), this arti ...
word 97
... the associated strengthening of domestic demand in western Europe. In Russia, the deep recession has bottomed out and output has started to rise again, although the foundations for a sustained recovery still appear to be rather weak. There has also been an upturn in economic activity in most of the ...
... the associated strengthening of domestic demand in western Europe. In Russia, the deep recession has bottomed out and output has started to rise again, although the foundations for a sustained recovery still appear to be rather weak. There has also been an upturn in economic activity in most of the ...
J. 1050
... are constrained in their purchases and/or sales of factors and commodities (Patinkin (1965), dower (1965), Leijohnufvud (1968) , Barro and Grossman (l97l),Malinvaud (1977)) is of a more recent vintage, the basic insight that when there is a rigidity in some factor or commodity price then the only eq ...
... are constrained in their purchases and/or sales of factors and commodities (Patinkin (1965), dower (1965), Leijohnufvud (1968) , Barro and Grossman (l97l),Malinvaud (1977)) is of a more recent vintage, the basic insight that when there is a rigidity in some factor or commodity price then the only eq ...
VOLUME 1, ISSUE 1, March 2016 - Oradea Journal of Business and
... studies which confirm existence of interdependent relations between preference changes and other changes in social and economic conditions (Fuchs, 1982; Horioka; 1990; Olsen, 1993; Sheldon, 1997, 1998; Becker and Mulligan, 1997; Kirby et al. 2002; and Chao et al., 2009). The modeling of preference c ...
... studies which confirm existence of interdependent relations between preference changes and other changes in social and economic conditions (Fuchs, 1982; Horioka; 1990; Olsen, 1993; Sheldon, 1997, 1998; Becker and Mulligan, 1997; Kirby et al. 2002; and Chao et al., 2009). The modeling of preference c ...
03/RT/2015 The macroeconomic effects of the Euro Area`s fiscal
... European Commission, the IMF and the OECD. The role of the fiscal consolidation in driving the Euro Area’s disappointing economic performance is uncertain and disputed. Blanchard and Leigh (2013) argue that the growth forecast errors in the IMF’s and the European Commission’s projections are systema ...
... European Commission, the IMF and the OECD. The role of the fiscal consolidation in driving the Euro Area’s disappointing economic performance is uncertain and disputed. Blanchard and Leigh (2013) argue that the growth forecast errors in the IMF’s and the European Commission’s projections are systema ...
Aggregate Expenditure and Product Fichier
... In this chapter we will introduce the factors, that influence the development of macroeconomic product, and the circumstances that lead to its change to a new equilibrium position, thus leading to fluctuations in the actual product. The main reason there will be changes in aggregate demand. The Keyn ...
... In this chapter we will introduce the factors, that influence the development of macroeconomic product, and the circumstances that lead to its change to a new equilibrium position, thus leading to fluctuations in the actual product. The main reason there will be changes in aggregate demand. The Keyn ...
Economic growth and unemployment rate. Case of Albania
... the Okun’s coefficient (Neely, 2010) noted that this coefficient can change over time since the relation of unemployment to economic growth depends on technology, laws, preferences, demographics and social customs. Accept the equation it is important to say that the Okun’s coefficient is by itself a ...
... the Okun’s coefficient (Neely, 2010) noted that this coefficient can change over time since the relation of unemployment to economic growth depends on technology, laws, preferences, demographics and social customs. Accept the equation it is important to say that the Okun’s coefficient is by itself a ...
Document
... As noted in Section 1, micro- and macroprudential policies can reinforce each other. While the frameworks and tools may differ, macro- and microprudential policies share the same goal, which is to reinforce the resiliency of banks and the banking system, including the latter’s interactions with othe ...
... As noted in Section 1, micro- and macroprudential policies can reinforce each other. While the frameworks and tools may differ, macro- and microprudential policies share the same goal, which is to reinforce the resiliency of banks and the banking system, including the latter’s interactions with othe ...
Chapter 3: BENEFITS AND COSTS, SUPPLY AND DEMAND
... Figure 3-4 illustrates how the aggregate demand curve is derived for organic apples. Suppose there are only two consumers, Alice and Bruce. These two people are representative of different types of consumers in Vancouver. Alice really likes organic apples, while Bruce is not so keen on them; he migh ...
... Figure 3-4 illustrates how the aggregate demand curve is derived for organic apples. Suppose there are only two consumers, Alice and Bruce. These two people are representative of different types of consumers in Vancouver. Alice really likes organic apples, while Bruce is not so keen on them; he migh ...
Answers to Key Questions
... b. Assume now that a new technique, technique No. 4, is developed. It entails the use of 2 units of labor, 2 of land, 6 of capital, and 3 of entrepreneurial ability. Given the resource prices in the table, will the firm adopt the new technique? Explain your answers. c. Suppose now that an increase i ...
... b. Assume now that a new technique, technique No. 4, is developed. It entails the use of 2 units of labor, 2 of land, 6 of capital, and 3 of entrepreneurial ability. Given the resource prices in the table, will the firm adopt the new technique? Explain your answers. c. Suppose now that an increase i ...
