When It Rains, It Pours: Procyclical Capital Flows and
... During good times, the economy repays its debt. Saving is thus positively correlated with the business cycle. Hence, in the standard model with no investment, capital inflows are countercyclical and tend to stabilize the cycle. Naturally, the counterpart of countercyclical borrowing in the standard ...
... During good times, the economy repays its debt. Saving is thus positively correlated with the business cycle. Hence, in the standard model with no investment, capital inflows are countercyclical and tend to stabilize the cycle. Naturally, the counterpart of countercyclical borrowing in the standard ...
paper - Institute for New Economic Thinking
... emotional values generalize to inflected forms, which makes it unnecessary to rate all forms separately (Warriner et al, 2013). In line with Loughran and Mcdonald’s result that words may be understood slightly different in an economics/finance context respondents with a finance background were selec ...
... emotional values generalize to inflected forms, which makes it unnecessary to rate all forms separately (Warriner et al, 2013). In line with Loughran and Mcdonald’s result that words may be understood slightly different in an economics/finance context respondents with a finance background were selec ...
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... (2014)). However, these papers either do not feature entry and exit or do not attempt to match their relative contributions for labor market dynamics over the business cycle. In many existing models, firm default and exit are key drivers of firm dynamics, whereas the data shows that this margin is qua ...
... (2014)). However, these papers either do not feature entry and exit or do not attempt to match their relative contributions for labor market dynamics over the business cycle. In many existing models, firm default and exit are key drivers of firm dynamics, whereas the data shows that this margin is qua ...
1 - Whitman People
... An economy's aggregate demand curve is not derived by horizontally summing the market demand curves for all the products consumed in the economy. The logic that explains why a simple demand curve slopes downward fails to explain why the aggregate demand curve also has a negative slope. Aggregate dem ...
... An economy's aggregate demand curve is not derived by horizontally summing the market demand curves for all the products consumed in the economy. The logic that explains why a simple demand curve slopes downward fails to explain why the aggregate demand curve also has a negative slope. Aggregate dem ...
es09 Ragot 11171426 en
... huge revisions in permanent income forecasts. Within the Real Business Cycles framework, the general equilibrium variant of the permanent income approach, only permanent shifts in total factor productivity can generate substantial move permanent income; and it is hard to imagine, in the present case ...
... huge revisions in permanent income forecasts. Within the Real Business Cycles framework, the general equilibrium variant of the permanent income approach, only permanent shifts in total factor productivity can generate substantial move permanent income; and it is hard to imagine, in the present case ...
Pierre Bourdieu - Olivier Godechot
... In the following years, these contacts remain strong and this cooperation is recognized by government officials of the INSEE , which, at that time, is considered to be one of the central places of the Keynesian spirit inside the French administration19. The “colloque d’Arras” in June 1965 (Arras con ...
... In the following years, these contacts remain strong and this cooperation is recognized by government officials of the INSEE , which, at that time, is considered to be one of the central places of the Keynesian spirit inside the French administration19. The “colloque d’Arras” in June 1965 (Arras con ...
Document
... d. It must increase the domestic interest rates on its bonds. e. It must limit the flow of foreign capital investment. (59%) 8. Econ can produce either 2 tons of cocoa or 4 cars with 10 units of labor. Nomics can produce either 5 tons of cocoa or 25 cars with 10 units of labor. Based on this informa ...
... d. It must increase the domestic interest rates on its bonds. e. It must limit the flow of foreign capital investment. (59%) 8. Econ can produce either 2 tons of cocoa or 4 cars with 10 units of labor. Nomics can produce either 5 tons of cocoa or 25 cars with 10 units of labor. Based on this informa ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... postwar recoveries. While limited fiscal actions have occurred around most troughs, these actions have almost always been too small to contribute much to economic recovery. In contrast, monetary policy has typically moved toward expansion shortly after the start of most recessions and appears to hav ...
... postwar recoveries. While limited fiscal actions have occurred around most troughs, these actions have almost always been too small to contribute much to economic recovery. In contrast, monetary policy has typically moved toward expansion shortly after the start of most recessions and appears to hav ...
Introduction to Minsky`s Stabilizing an Unstable Economy
... Minsky argued that no one had previously thought-through the policy implications of Keynes’s General Theory (p. 291). As implied by the title of his book, Minsky’s mission was to rectify that lacuna by developing policy for the modern, financial, capitalist economy. Chapters 12 and, especially, 13 p ...
... Minsky argued that no one had previously thought-through the policy implications of Keynes’s General Theory (p. 291). As implied by the title of his book, Minsky’s mission was to rectify that lacuna by developing policy for the modern, financial, capitalist economy. Chapters 12 and, especially, 13 p ...
Chapter 4 Slides
... • What might cause interest rates to be low one year and high the next? • How do changes in the money supply affect the economy? • How do changes in government spending and tax policy affect the economy? ...
... • What might cause interest rates to be low one year and high the next? • How do changes in the money supply affect the economy? • How do changes in government spending and tax policy affect the economy? ...
3BUAdvising and Supervision (as main/co
... Extend to Both the Oil and the Non-Oil Sectors (2012) (with Rosmy Jean Louis, and Mohammad Osman) International Economics and Economic Policy, 9(1), 83-110. [12] Income Smoothing and Welfare Gains across Pacific Island Countries: The Role of ...
... Extend to Both the Oil and the Non-Oil Sectors (2012) (with Rosmy Jean Louis, and Mohammad Osman) International Economics and Economic Policy, 9(1), 83-110. [12] Income Smoothing and Welfare Gains across Pacific Island Countries: The Role of ...
Monetary Policy in Japan Since the Late 1980s
... a success in holding down and stabilizing money growth (e.g., Friedman 1985; Hamada and Hayashi 1985). We therefore treat the reaction function estimated for 1975-85 as the benchmark for a ‘‘good’’ policy rule and compute the call rate after 1985 using the policy rule before 1985. From this exercise ...
... a success in holding down and stabilizing money growth (e.g., Friedman 1985; Hamada and Hayashi 1985). We therefore treat the reaction function estimated for 1975-85 as the benchmark for a ‘‘good’’ policy rule and compute the call rate after 1985 using the policy rule before 1985. From this exercise ...
Economics of Money, Banking, and Financial Markets, 8e
... inflation. Describe how the inflation process is generated. Answer: See figure below. ...
... inflation. Describe how the inflation process is generated. Answer: See figure below. ...
McCallum rule and Chinese monetary policy
... diate annual targets. In contrast, no such targets are defined for the monetary base in the Chinese context. Another difference in comparison with the original rule is that, due to a limited data sample, we average money velocity growth over the previous year, instead of over four years as in e.g. ...
... diate annual targets. In contrast, no such targets are defined for the monetary base in the Chinese context. Another difference in comparison with the original rule is that, due to a limited data sample, we average money velocity growth over the previous year, instead of over four years as in e.g. ...
NBER WORKING PAPER SERIES A JOBLESS RECOVERY
... inflation target as the negative fundamental shock fades away. As inflation converges to its target level, it erodes the real purchasing power of wages, fostering employment. Consequently, in our model the recovery from a contraction driven by fundamental shocks is characterized by both an increase ...
... inflation target as the negative fundamental shock fades away. As inflation converges to its target level, it erodes the real purchasing power of wages, fostering employment. Consequently, in our model the recovery from a contraction driven by fundamental shocks is characterized by both an increase ...
Fiscal consolidation during a depression
... led to a sharp rise in global government debt, giving rise to concerns about long-term fiscal sustainability. Despite this, long-term interest rates remain low in virtually all major developed economies outside the Euro Area, reflecting the fact that growth is weak and short-term interest rates are ...
... led to a sharp rise in global government debt, giving rise to concerns about long-term fiscal sustainability. Despite this, long-term interest rates remain low in virtually all major developed economies outside the Euro Area, reflecting the fact that growth is weak and short-term interest rates are ...
NBER WORKING PAPER SERIES Bruce A. Blonigen Jeremy Piger
... that trade more with one another. Frankel and Rose (1998) first demonstrated stronger correlations between business cycle fluctuations in real GDP for trading partners. A large ensuing literature has demonstrated that this result is robust to the inclusion of a battery of additional explanatory vari ...
... that trade more with one another. Frankel and Rose (1998) first demonstrated stronger correlations between business cycle fluctuations in real GDP for trading partners. A large ensuing literature has demonstrated that this result is robust to the inclusion of a battery of additional explanatory vari ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... that the simple New Keynesian model may be misleading by emphasizing that demand-driven changes in output should be inflationary. As for the first inference, it is obviously possible to find parameters that will allow the volatility of inflation built from (1) to be similar to that observed in the d ...
... that the simple New Keynesian model may be misleading by emphasizing that demand-driven changes in output should be inflationary. As for the first inference, it is obviously possible to find parameters that will allow the volatility of inflation built from (1) to be similar to that observed in the d ...
Working Paper, No. 121 - Wirtschaftswissenschaftliche Fakultät der
... the Austrian concept of the natural interest rate – which balances saving and investment – two types of monetary policy mistakes can be defined. First, during an economic upswing the central bank keeps the interest rate below the natural interest rate (for too long) (monetary policy mistake of type ...
... the Austrian concept of the natural interest rate – which balances saving and investment – two types of monetary policy mistakes can be defined. First, during an economic upswing the central bank keeps the interest rate below the natural interest rate (for too long) (monetary policy mistake of type ...