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Optimal Interest Rate Rules and Inflation Stabilization versus Price
Optimal Interest Rate Rules and Inflation Stabilization versus Price

A Retrospective Look at the US Productivity
A Retrospective Look at the US Productivity

... Is the resurgence in U.S. productivity growth sustainable? The rise in productivity growth lasted through the middle of 2004, but more recent data have been considerably weaker. The 1.3 percent annual productivity growth rate from the middle of 2004 through the middle of 2007, for example, falls sho ...
The End of the Great Depression 1939‐41:   VAR Insight on Policy Contributions and Fiscal Multipliers 
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... This paper’s results show that while both fiscal and monetary policy contributed to the  recovery from the Great Depression, fiscal policy innovations were the dominant force,  especially after 1940:Q2 when government expenditures as a percentage of potential real GDP  started to explode.  This conc ...
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Macroeconomics
Macroeconomics

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macroeconomics
macroeconomics

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Growth, Distribution and Effective Demand: the supermultiplier

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Principles of Macroeconomics Self-study quiz and Exercises March

... 4) According to Keynes, the governmentʹs role during periods when private demand is low is to stimulate aggregate demand and, by so doing, lift the economy out of recession. 5) In the Classical model, the level of employment is determined by the level of aggregate demand. 6)ʺ Fine tuningʺ is any gov ...
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Business cycle

The business cycle or economic cycle is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend. These fluctuations typically involve shifts over time between periods of relatively rapid economic growth (expansions or booms), and periods of relative stagnation or decline (contractions or recessions).Used in the indefinite sense, a business cycle is a period of time containing a single boom and contraction in sequence.Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles, these fluctuations in economic activity can prove unpredictable.A boom-and-bust cycle is one in which the expansions are rapid and the contractions are steep and severe.
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