NBER WORKING PAPER SERIES DSGE MODELS FOR MONETARY POLICY ANALYSIS Mathias Trabandt
... The econometric technique that is particularly suited to the shock-based analysis described in the previous paragraph, is the one that matches impulse response functions estimated by vector autoregressions (VARs) with the corresponding objects in a model. Using US macroeconomic data, we show how the ...
... The econometric technique that is particularly suited to the shock-based analysis described in the previous paragraph, is the one that matches impulse response functions estimated by vector autoregressions (VARs) with the corresponding objects in a model. Using US macroeconomic data, we show how the ...
34 BENDE BRUYN
... from their services sector. The share of the industrial sector in GDP decreased in Japan, Hong Kong, China and Macao, China, and remained largely stable in China and the Republic of Korea. With the exception of Mongolia, which is promoting agricultural output in an effort to diversify the economy an ...
... from their services sector. The share of the industrial sector in GDP decreased in Japan, Hong Kong, China and Macao, China, and remained largely stable in China and the Republic of Korea. With the exception of Mongolia, which is promoting agricultural output in an effort to diversify the economy an ...
Lecture 26
... • Poverty line be updated between the two Surveys by price indices. The most widely used method is to adjust poverty line with CPIbased inflation. This method allows for changes in prices but the consumption basket associated with poverty line remains unchanged. Thus poverty line remains constant ov ...
... • Poverty line be updated between the two Surveys by price indices. The most widely used method is to adjust poverty line with CPIbased inflation. This method allows for changes in prices but the consumption basket associated with poverty line remains unchanged. Thus poverty line remains constant ov ...
NBER WORKING PAPER SERIES CAN CENTRAL BANK TRANSPARENCY GO TOO FAR?
... inflation forecast, or that the inflation forecast differs too markedly from the stated target, they can immediately voice their criticisms of the central bank. Increased accountability of the central bank is then the result. However, despite the obvious advantages of publishing forecasts, there are ...
... inflation forecast, or that the inflation forecast differs too markedly from the stated target, they can immediately voice their criticisms of the central bank. Increased accountability of the central bank is then the result. However, despite the obvious advantages of publishing forecasts, there are ...
EU FISCAL POLICY AND THE STABILITY AND GROWTH PACT: B
... parlance economic slumps, government expenditure has been used as a countercyclical tool to stimulate flagging economies. However, fiscal policy is by no means a panacea. There are serious difficulties in implementing a successful package, and just like any tool at a government’s disposal, it is ope ...
... parlance economic slumps, government expenditure has been used as a countercyclical tool to stimulate flagging economies. However, fiscal policy is by no means a panacea. There are serious difficulties in implementing a successful package, and just like any tool at a government’s disposal, it is ope ...
BUS 111 - Micro Economics
... has a pretty decent grip on what resources are being used and can probably make a list of what those resources are on a sheet of paper – you know, labor, cash registers, etc Each individual household knows what goods and services are being bought and can probably make a list of those items on a shee ...
... has a pretty decent grip on what resources are being used and can probably make a list of what those resources are on a sheet of paper – you know, labor, cash registers, etc Each individual household knows what goods and services are being bought and can probably make a list of those items on a shee ...
: Saya, Dia dan Kamu - Terengganu
... changes in the rate of interest. Investment spending is determined jointly by rate of interest and the marginal efficiency of capital, or the expected rate of return above the cost on new investments. The interest rate depends on people’s preferences for liquidity and the quantity of money. The marg ...
... changes in the rate of interest. Investment spending is determined jointly by rate of interest and the marginal efficiency of capital, or the expected rate of return above the cost on new investments. The interest rate depends on people’s preferences for liquidity and the quantity of money. The marg ...
May 2007 by Alexander J. Field*
... contracts, downward or upward rigidities in nominal wages or prices, or other governmental policies or legal rules that affect microeconomic decision making. These latter factors can be considered aspects of the supply side of the economy. Their introduction or removal could be considered a negative ...
... contracts, downward or upward rigidities in nominal wages or prices, or other governmental policies or legal rules that affect microeconomic decision making. These latter factors can be considered aspects of the supply side of the economy. Their introduction or removal could be considered a negative ...
Dynamics of Budget Deficit and Macroeconomic Fundamentals
... macroeconomic variables. They argue that budget deficits lead to higher interest rates, discourages the issue of private bonds, private investments, and private spending, increases inflation level, and cause a similar increase in the current account deficits and finally slows the growth of the econo ...
... macroeconomic variables. They argue that budget deficits lead to higher interest rates, discourages the issue of private bonds, private investments, and private spending, increases inflation level, and cause a similar increase in the current account deficits and finally slows the growth of the econo ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... 7.1 Introduction When an economy slumps, policymakers typically stimulate demand by reducing short-term interest rates. Japan’s experience in the last decade has renewed interest in an old question: what to do when rates can’t be lowered. Weak demand has produced an output slump and deflation. But s ...
... 7.1 Introduction When an economy slumps, policymakers typically stimulate demand by reducing short-term interest rates. Japan’s experience in the last decade has renewed interest in an old question: what to do when rates can’t be lowered. Weak demand has produced an output slump and deflation. But s ...
The Impact of the Global Financial Crisis on Southeastern European
... 1.1 Background of the Study and Statement of the Problem History has seen a lot of crises during the years, making them an important subject for research and theories trying to explain their causes and effects. There are various definitions for the crises, but; “The classic explanation of financial ...
... 1.1 Background of the Study and Statement of the Problem History has seen a lot of crises during the years, making them an important subject for research and theories trying to explain their causes and effects. There are various definitions for the crises, but; “The classic explanation of financial ...
Transmission of Monetary Policy with Heterogeneity in Household
... monetary shocks, while indirect effects account for the remaining 65%. Indirect effects mainly work through equilibrium changes in labor income (about 85%), which represents the most important income source for the majority of households. The revaluation of nominal claims, including debt deflation, ...
... monetary shocks, while indirect effects account for the remaining 65%. Indirect effects mainly work through equilibrium changes in labor income (about 85%), which represents the most important income source for the majority of households. The revaluation of nominal claims, including debt deflation, ...
Document
... slowly over time. Consequently, the amount of money spent did not affect the level of real output so that a doubling of the quantity of money would result simply in doubling the price level. Until prices had risen by this proportion, individuals and firms would have excess cash which they would spen ...
... slowly over time. Consequently, the amount of money spent did not affect the level of real output so that a doubling of the quantity of money would result simply in doubling the price level. Until prices had risen by this proportion, individuals and firms would have excess cash which they would spen ...
2015 Spring - 421 Notes 03
... 3. How does the relation between investment and output affect the value of the multiplier? 4. For the multiplier to be positive, what condition must (c1 + b1 ) satisfy? 5. Suppose that the parameter b0 , sometimes called business confidence, increases. How will equilibrium output be affected? 6. Wil ...
... 3. How does the relation between investment and output affect the value of the multiplier? 4. For the multiplier to be positive, what condition must (c1 + b1 ) satisfy? 5. Suppose that the parameter b0 , sometimes called business confidence, increases. How will equilibrium output be affected? 6. Wil ...
- Central Bank of Solomon Islands
... Abundant literature exists covering the procedures used in deriving quarterly GDP as well as various measures of the output gap. This section reviews some of the existing literatures and common indicators and disaggregation methods used. In terms of the output gap literature, it focuses on selected ...
... Abundant literature exists covering the procedures used in deriving quarterly GDP as well as various measures of the output gap. This section reviews some of the existing literatures and common indicators and disaggregation methods used. In terms of the output gap literature, it focuses on selected ...
NBER WORKING PAPER SERIES SUPPLY SHOCKS AND OPTIMAL MONETARY POLICY Stephen J. Turnovsky
... disturbances, E(v), E(u), E(w). At the same time, it is adjusted in anticipation of the next period's supply shock, as well as in response to the anticipated supply disturbance for the present period. it can be shown that for the objective function to be introduced below, this rule suffices to achie ...
... disturbances, E(v), E(u), E(w). At the same time, it is adjusted in anticipation of the next period's supply shock, as well as in response to the anticipated supply disturbance for the present period. it can be shown that for the objective function to be introduced below, this rule suffices to achie ...
The Seafood Sector in Ireland: An Assessment of the Employment
... link between production accounts, factors of production, private and public expenditure, investment, imports and exports, while a SAM can be interpreted as the representation of the circular flow production-income-expenditure-production. A SAM contains information on the owners of the factors (house ...
... link between production accounts, factors of production, private and public expenditure, investment, imports and exports, while a SAM can be interpreted as the representation of the circular flow production-income-expenditure-production. A SAM contains information on the owners of the factors (house ...
Chapter 24: Aggregate Demand, Aggregate Supply, and Inflation
... Other Reasons for a DownwardSloping Aggregate Demand Curve • The real wealth effect, or real balance, effect is the change in consumption brought about by a change in real wealth that results from a change in the price level. ...
... Other Reasons for a DownwardSloping Aggregate Demand Curve • The real wealth effect, or real balance, effect is the change in consumption brought about by a change in real wealth that results from a change in the price level. ...
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... inflation forecast, or that the inflation forecast differs too markedly from the stated target, they can immediately voice their criticisms of the central bank. Increased accountability of the central bank is then the result. However, despite the obvious advantages of publishing forecasts, there are ...
... inflation forecast, or that the inflation forecast differs too markedly from the stated target, they can immediately voice their criticisms of the central bank. Increased accountability of the central bank is then the result. However, despite the obvious advantages of publishing forecasts, there are ...
Long-Run Growth - mrclotzman.com
... From Agriculture to Industry • Before the Industrial Revolution in Great Britain, every society in the world was agrarian. • Beginning in England around 1750, technical change and capital accumulation increased productivity in two important industries: agriculture and textiles. ...
... From Agriculture to Industry • Before the Industrial Revolution in Great Britain, every society in the world was agrarian. • Beginning in England around 1750, technical change and capital accumulation increased productivity in two important industries: agriculture and textiles. ...