The Study of Economics
... In addition, a variety of factors (such as minimum wages, unions, efficiency wages, and government policies designed to help laid-off workers) result in a situation in which there is a surplus of labor at the market wage rate, creating structural unemployment. As a result, the natural rate of unempl ...
... In addition, a variety of factors (such as minimum wages, unions, efficiency wages, and government policies designed to help laid-off workers) result in a situation in which there is a surplus of labor at the market wage rate, creating structural unemployment. As a result, the natural rate of unempl ...
econs 1 - University of Maiduguri
... Households typically do not spend all their income as consumer goods. They also save part of their income. Government consist of large institutions in the modern world which tax individuals income and which use their tax proceeds to pay large quantities of goods and services from firms. Economic act ...
... Households typically do not spend all their income as consumer goods. They also save part of their income. Government consist of large institutions in the modern world which tax individuals income and which use their tax proceeds to pay large quantities of goods and services from firms. Economic act ...
(classical) theory of the demand for money
... • The speculative component of money demand would be related to income but more to interest rates as the factor that influence the holding of money as a store of wealth. – Keynes divided the assets that can be used to store wealth into two categories: money and bonds. He then asked the following que ...
... • The speculative component of money demand would be related to income but more to interest rates as the factor that influence the holding of money as a store of wealth. – Keynes divided the assets that can be used to store wealth into two categories: money and bonds. He then asked the following que ...
Topic: Great Depression and New Deal (3.1) Score 3.0 The student
... Score 4.0 In addition to Score 3.0, in-depth inferences and applications that go beyond what was taught. Justify US government responses to the Great Depression and compare those to more recent actions. ...
... Score 4.0 In addition to Score 3.0, in-depth inferences and applications that go beyond what was taught. Justify US government responses to the Great Depression and compare those to more recent actions. ...
Asymmetric Granger Causality between Military Expenditures and
... nonlinear causality, it is not able to provide the further information about the asymmetric effect of military expenditure on economic growth, vice versa. In order to establish an empirical model with a strong theoretical foundation that can truly identify asymmetric causality between military expe ...
... nonlinear causality, it is not able to provide the further information about the asymmetric effect of military expenditure on economic growth, vice versa. In order to establish an empirical model with a strong theoretical foundation that can truly identify asymmetric causality between military expe ...
A budget for the euro area - Direction Générale du Trésor
... The theory of optimum currency areas suggests that internal adjustments serve to offset fixed exchange rates in a currency union: according to this view, the difficult adjustment in response to the crisis stemmed not so much from the currency union's design flaws as from the lack of factor mobility ...
... The theory of optimum currency areas suggests that internal adjustments serve to offset fixed exchange rates in a currency union: according to this view, the difficult adjustment in response to the crisis stemmed not so much from the currency union's design flaws as from the lack of factor mobility ...
Inequality and poverty in a developing economy
... relationship existing between growth, inequality and poverty. Our results show that economic growth and lower levels of inequality played a role in improving the economic condition of the most disadvantaged. The paper is structured as follows. Section 2 offers a brief description of the economic con ...
... relationship existing between growth, inequality and poverty. Our results show that economic growth and lower levels of inequality played a role in improving the economic condition of the most disadvantaged. The paper is structured as follows. Section 2 offers a brief description of the economic con ...
This PDF is a selection from an out-of-print volume from the... of Economic Research Volume Title: International Economic Cooperation
... their balance of payments deficit. 8 The failure of the Mitterrand expansion in 1981 is some evidence in favor of this view, though that period was marked by monetary as well as fiscal expansion. The spillover effects on GNP in the United States are quite small (0.2), though all but one of the model ...
... their balance of payments deficit. 8 The failure of the Mitterrand expansion in 1981 is some evidence in favor of this view, though that period was marked by monetary as well as fiscal expansion. The spillover effects on GNP in the United States are quite small (0.2), though all but one of the model ...
UNEMPLOYMENT VS. MISMATCH OF TALENTS
... quali®ed groups (college graduates, experienced workers) vs. non-quali®ed groups, it is now well-documented that, in the United States, wage differences have grown not only across groups, i.e. between workers with different quali®cations, but also within groups, i.e. among observationally identical ...
... quali®ed groups (college graduates, experienced workers) vs. non-quali®ed groups, it is now well-documented that, in the United States, wage differences have grown not only across groups, i.e. between workers with different quali®cations, but also within groups, i.e. among observationally identical ...
More details
... speculation. Such tools as securities, future transaction, options transaction becomes strong tools in hands of investors to rare commodities. And its results are oil price reached its highest point ever recorded, gold and other farm products and raw material also surprisingly increased. According t ...
... speculation. Such tools as securities, future transaction, options transaction becomes strong tools in hands of investors to rare commodities. And its results are oil price reached its highest point ever recorded, gold and other farm products and raw material also surprisingly increased. According t ...
Medium Term Business Cycles in Developing Countries
... frequency component and a medium term component. The high frequency component captures ‡uctuations with periods smaller than 8 years while the medium term component captures ‡uctuations with periods between 8 and 50 years. We use a Hodrick-Prescott …lter to isolate ‡uctuations at the high frequency ...
... frequency component and a medium term component. The high frequency component captures ‡uctuations with periods smaller than 8 years while the medium term component captures ‡uctuations with periods between 8 and 50 years. We use a Hodrick-Prescott …lter to isolate ‡uctuations at the high frequency ...
Chapter 19 The Demand for Money
... • Distinguishing Between the Friedman and Keynesian Theories. • Friedman recognized more than one interest rate in his demand for money function, Keynes, lumped financial assets other than money into one bonds because he felt that their returns generally move together. • Friedman viewed money and go ...
... • Distinguishing Between the Friedman and Keynesian Theories. • Friedman recognized more than one interest rate in his demand for money function, Keynes, lumped financial assets other than money into one bonds because he felt that their returns generally move together. • Friedman viewed money and go ...
Macro Risks and the Term Structure
... We formulate a model which links macroeconomic factors to the term structure of interest rates in a no-arbitrage framework. We include novel factors in the model that capture the risks associated with aggregate supply and demand shocks for the U.S. economy. We extract these shocks from data on real ...
... We formulate a model which links macroeconomic factors to the term structure of interest rates in a no-arbitrage framework. We include novel factors in the model that capture the risks associated with aggregate supply and demand shocks for the U.S. economy. We extract these shocks from data on real ...
Keynes` Theory of Money and His Attack on the Classical Model
... demand for money may be divided into five categories. Three of these are: 1) income deposits, money used to meet personal expenditures; 2) business deposits, money used to meet business obligations; and 3) savings deposits, money used to meet personal (financial) investment needs. The remaining two ...
... demand for money may be divided into five categories. Three of these are: 1) income deposits, money used to meet personal expenditures; 2) business deposits, money used to meet business obligations; and 3) savings deposits, money used to meet personal (financial) investment needs. The remaining two ...
Multiplier
... be accompanied by a decrease in the investment in the other sector. An inter-sectoral transfer of the investment will not raise the value of the multiplier. Further, it is necessary to ensure a steady injection of the investment. That is, the increments in the investment should be repeated at regula ...
... be accompanied by a decrease in the investment in the other sector. An inter-sectoral transfer of the investment will not raise the value of the multiplier. Further, it is necessary to ensure a steady injection of the investment. That is, the increments in the investment should be repeated at regula ...
The German Labor Market During the Great Recession
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
Publisher_macro_ch_12_13th
... Alternative Views of Fiscal Policy • Keynesians stress the potency of fiscal policy and its use to maintain AD at a level consistent with full employment. • Others argue there are secondary effects of fiscal policy which undermine its effectiveness. • Critics also argue that Keynesian analysis ignor ...
... Alternative Views of Fiscal Policy • Keynesians stress the potency of fiscal policy and its use to maintain AD at a level consistent with full employment. • Others argue there are secondary effects of fiscal policy which undermine its effectiveness. • Critics also argue that Keynesian analysis ignor ...
EcoMod2010
... Chair: Søren HOVE RAVN Revitalizing Reserve Requirement in Banking Model: An Industrial Organization Approach Iman GUNADI Friedman Meets the Joneses: A Model of Essential Money with Consumption Externalities Patrik RYFF Has the Fed Reacted Asymmetrically to Stock Prices Søren HOVE RAVN ...
... Chair: Søren HOVE RAVN Revitalizing Reserve Requirement in Banking Model: An Industrial Organization Approach Iman GUNADI Friedman Meets the Joneses: A Model of Essential Money with Consumption Externalities Patrik RYFF Has the Fed Reacted Asymmetrically to Stock Prices Søren HOVE RAVN ...
spd04 Hughes-Hallett-k 225546 en
... the fact that fiscal policies typically have long run targets (sustainability, low debt), and is not easily reversible (public services, social equality), and doesn’t stabilise well (if efficiency is to be maintained). Nevertheless, there are also automatic stabilisers in any fiscal policy framework ...
... the fact that fiscal policies typically have long run targets (sustainability, low debt), and is not easily reversible (public services, social equality), and doesn’t stabilise well (if efficiency is to be maintained). Nevertheless, there are also automatic stabilisers in any fiscal policy framework ...
Reading Ch 1 Classifying Monetary Economics
... Keynesian models of money demand, implicit in Keynes (1936) and developed more formally by Baumol (1952) and Tobin (1956, 1958), adding bonds as an alternative asset to money and highlighting the role of the interest rate and transactionstechnology costs (1.2 in Figure 1), are a second recurrent the ...
... Keynesian models of money demand, implicit in Keynes (1936) and developed more formally by Baumol (1952) and Tobin (1956, 1958), adding bonds as an alternative asset to money and highlighting the role of the interest rate and transactionstechnology costs (1.2 in Figure 1), are a second recurrent the ...
PPT
... E.g. if the CPI rose from 100 to 110, and the next year to 112, the inflation rate is positive but slowing down. BACK TO ...
... E.g. if the CPI rose from 100 to 110, and the next year to 112, the inflation rate is positive but slowing down. BACK TO ...
