Interactive Tool
... Reserve or from another bank. If another bank has more reserves than they are required to maintain, those extra reserves are called excess reserves. The reserve requirement is seldom changed, but it has a potentially very large effect on the ability to make loans and thus on interest rates. If the ...
... Reserve or from another bank. If another bank has more reserves than they are required to maintain, those extra reserves are called excess reserves. The reserve requirement is seldom changed, but it has a potentially very large effect on the ability to make loans and thus on interest rates. If the ...
Capital Inflows in a Small Open Economy
... model. International trade in this model takes place between two countries under a system of fixed exchange rates and full-employment. An adaptation of the classical diagram invented by Metzler(1960), is updated to include intertemporal maximizing agents, and a small economy that takes the foreign i ...
... model. International trade in this model takes place between two countries under a system of fixed exchange rates and full-employment. An adaptation of the classical diagram invented by Metzler(1960), is updated to include intertemporal maximizing agents, and a small economy that takes the foreign i ...
Finance-dominated capitalism in crisis – the
... summer 2007, which then gained momentum with the breakdown of Lehman Brothers in September 2008 and which reached another climax with the euro crisis in early-mid 2010. Under the conditions of deregulated and liberalised international financial markets the financial crisis has rapidly spread all ove ...
... summer 2007, which then gained momentum with the breakdown of Lehman Brothers in September 2008 and which reached another climax with the euro crisis in early-mid 2010. Under the conditions of deregulated and liberalised international financial markets the financial crisis has rapidly spread all ove ...
what do we know about macroeconomics that
... and Business Cycle Theory.3 At the center of Monetary Theory was the quantity theory— the theory of how changes in money lead to movements in output and in prices. The focus was both on long-run neutrality and on short-run nonneutrality. The discussion of the short-run effects of an increase in mone ...
... and Business Cycle Theory.3 At the center of Monetary Theory was the quantity theory— the theory of how changes in money lead to movements in output and in prices. The focus was both on long-run neutrality and on short-run nonneutrality. The discussion of the short-run effects of an increase in mone ...
Introduction to Macroeconomics
... 5. Which of the following would NOT be counted in 2003's GDP? A) The value of a 2001 car you purchase from a car dealer in 2003. B) The 2003 salary of a used car salesperson C) The commissions earned by a real estate agent in selling houses built prior to 2003 D) The value of a computer manufactured ...
... 5. Which of the following would NOT be counted in 2003's GDP? A) The value of a 2001 car you purchase from a car dealer in 2003. B) The 2003 salary of a used car salesperson C) The commissions earned by a real estate agent in selling houses built prior to 2003 D) The value of a computer manufactured ...
Latecomer`s Effects in Environment Pollution in East Asia
... pollution controls on the ODS and BOD have intensively been promoted by East Asian countries. The ozone-depleting substances have been strictly regulated since the 1987’s signature of the Montreal Protocol, i.e. an international treaty designed to protect the ozone layer by phasing out the productio ...
... pollution controls on the ODS and BOD have intensively been promoted by East Asian countries. The ozone-depleting substances have been strictly regulated since the 1987’s signature of the Montreal Protocol, i.e. an international treaty designed to protect the ozone layer by phasing out the productio ...
short_run - YSU
... spending or taxes designed to change equilibrium GDP— is completely ineffective – crowding out effect. • In short-run, an increase in government purchases causes a multiplied increase in equilibrium GDP. – Therefore, in short-run, fiscal policy can actually change equilibrium GDP. – Observation sugg ...
... spending or taxes designed to change equilibrium GDP— is completely ineffective – crowding out effect. • In short-run, an increase in government purchases causes a multiplied increase in equilibrium GDP. – Therefore, in short-run, fiscal policy can actually change equilibrium GDP. – Observation sugg ...
Tabular Approach
... Tabular Approach – Provides scope for good international comparability – But care still needed in interpretation – e.g. since 2006 self employed are included in the BR, prior to that they were in an AR and so N5. – And so focus of comparability should not be on total N1 to N7. – N1+N6 not really af ...
... Tabular Approach – Provides scope for good international comparability – But care still needed in interpretation – e.g. since 2006 self employed are included in the BR, prior to that they were in an AR and so N5. – And so focus of comparability should not be on total N1 to N7. – N1+N6 not really af ...
Introduction
... In particular, Keynesian macroeconomics has no optimisation behaviour. This is actually a criticism that was made in the 70’s, (Lucas critique): macroeconomic knowledge is not supported by individual decision making. As a result, more modern approaches (like “rational expectations”) are micro founde ...
... In particular, Keynesian macroeconomics has no optimisation behaviour. This is actually a criticism that was made in the 70’s, (Lucas critique): macroeconomic knowledge is not supported by individual decision making. As a result, more modern approaches (like “rational expectations”) are micro founde ...
Europe Project - University of Victoria
... In some jurisdictions agricultural land continues to be largely publicly owned, and farming may, in some cases, be performed by state-owned enterprises or collective farms. In other jurisdictions, sole proprietor (family) farms dominate. For economies in transition, both extremes of state ownership ...
... In some jurisdictions agricultural land continues to be largely publicly owned, and farming may, in some cases, be performed by state-owned enterprises or collective farms. In other jurisdictions, sole proprietor (family) farms dominate. For economies in transition, both extremes of state ownership ...
Monetary policy in the euro area`s neighbouring countries
... within the euro area. This was reflected in the fact that the government bond interest rates of most member countries were practically the same as those of the country with the lowest yields, namely Germany. During the course of the financial crisis, concerns over the stability of the euro area led ...
... within the euro area. This was reflected in the fact that the government bond interest rates of most member countries were practically the same as those of the country with the lowest yields, namely Germany. During the course of the financial crisis, concerns over the stability of the euro area led ...
Capitalism and Socialism: A Review of Kornai`s Dynamism
... as one of capitalism’s great virtues, albeit one with several detrimental side effects” (Kornai 2013, p. 53). Various and conflicting socialist concepts and different so-called socialist systems appear in an exceedingly wide political economic and ideological spectrum, from highly equal societies wi ...
... as one of capitalism’s great virtues, albeit one with several detrimental side effects” (Kornai 2013, p. 53). Various and conflicting socialist concepts and different so-called socialist systems appear in an exceedingly wide political economic and ideological spectrum, from highly equal societies wi ...
Post-Keynesian Institutionalism after the Great Recession
... interested in the possibility of a PKI. At that time, the institutionalist tradition had fewer followers and less professional influence than it did in the first half of the 20th century, but institutionalism still attracted innovative thinkers and even included some illustrious economists (such as ...
... interested in the possibility of a PKI. At that time, the institutionalist tradition had fewer followers and less professional influence than it did in the first half of the 20th century, but institutionalism still attracted innovative thinkers and even included some illustrious economists (such as ...
A Structural Model Of Sovereign Credit Risk
... – Theoretically ,CDS spreads should correspond to changing credit outlooks of underlying issuers; they could be used as a clear gauge for credit riskiness However, the thin CDS market make them suspect measures: 40% of sovereigns have less than one CDS trade per day (data: Kamakura Corporation) ...
... – Theoretically ,CDS spreads should correspond to changing credit outlooks of underlying issuers; they could be used as a clear gauge for credit riskiness However, the thin CDS market make them suspect measures: 40% of sovereigns have less than one CDS trade per day (data: Kamakura Corporation) ...
- The Bichler and Nitzan Archives
... What is capital? Despite centuries of debate, there is no clear answer to this question – and for a good reason. Capital is a polemic term. The way we define it attests our theoretical biases, ideological disposition, view of politics, class consciousness, social position, and more. Is capital the s ...
... What is capital? Despite centuries of debate, there is no clear answer to this question – and for a good reason. Capital is a polemic term. The way we define it attests our theoretical biases, ideological disposition, view of politics, class consciousness, social position, and more. Is capital the s ...
Serbia: Country Profile and Recent Economic Developments
... (IAS). Banks and large enterprises have had to publish IAS-conform fi nancial statements since 2004 and 2005, respectively. A reconstruction program was developed for the eight largest, sociallyowned enterprises in the electricity, petroleum, railway, postal, telecommunications, airline, airport and ...
... (IAS). Banks and large enterprises have had to publish IAS-conform fi nancial statements since 2004 and 2005, respectively. A reconstruction program was developed for the eight largest, sociallyowned enterprises in the electricity, petroleum, railway, postal, telecommunications, airline, airport and ...
CEOs` Economic Outlook Dims as More Plan to
... "An aspect of FRB/US that is closely related to slow market adjustment is the behavior of inflation. In the model, firms seek to pay workers the value of their marginal product and to price their output as a markup over trend unit labor and energy costs. However, labor contracts and other factors cr ...
... "An aspect of FRB/US that is closely related to slow market adjustment is the behavior of inflation. In the model, firms seek to pay workers the value of their marginal product and to price their output as a markup over trend unit labor and energy costs. However, labor contracts and other factors cr ...
vsi11 ec Fiaschi 16151107 en
... The competition for the appropriation of residual rents between the two groups is first modelled as a one-shot game, where both groups simultaneously choose how to allocate their time between the productive sector and the fighting for the appropriation of rents from natural resources. Technology in ...
... The competition for the appropriation of residual rents between the two groups is first modelled as a one-shot game, where both groups simultaneously choose how to allocate their time between the productive sector and the fighting for the appropriation of rents from natural resources. Technology in ...
Using Fiscal Policy to Fight Recession
... OpenStax College This work is produced by OpenStax-CNX and licensed under the ...
... OpenStax College This work is produced by OpenStax-CNX and licensed under the ...
2. Main Achievement
... Global economy under profound adjustment: EU sovereign debt crisis, capital flight from BRICS countries (in 2012, the developed economies grew by 1.3%, and the emerging economies 5.3%) ...
... Global economy under profound adjustment: EU sovereign debt crisis, capital flight from BRICS countries (in 2012, the developed economies grew by 1.3%, and the emerging economies 5.3%) ...
Solution
... 1/(1 − 0.75) = 4, an increase in government purchases of $15 billion will increase real GDP by $60 billion and close the recessionary gap. Each dollar of a government transfer increase will increase real GDP by MPC/(1 − MPC) × $1, or 0.75/(1 − 0.75) × $1 = $3. Since real GDP needs to increase by $60 ...
... 1/(1 − 0.75) = 4, an increase in government purchases of $15 billion will increase real GDP by $60 billion and close the recessionary gap. Each dollar of a government transfer increase will increase real GDP by MPC/(1 − MPC) × $1, or 0.75/(1 − 0.75) × $1 = $3. Since real GDP needs to increase by $60 ...
Labor Market Policy in the Great Recession
... numerically flexible employment levels and strong income security for workers – appear to perform well when the economy is at or near full employment. In good times, the country’s expensive active labor market policies work to connect unemployed workers to available jobs. In a severe downturn, howev ...
... numerically flexible employment levels and strong income security for workers – appear to perform well when the economy is at or near full employment. In good times, the country’s expensive active labor market policies work to connect unemployed workers to available jobs. In a severe downturn, howev ...
Liquid Capital and Market Liquidity
... prices with respect to a marginal perturbation in share holdings is higher when such a trade induces greater intertemporal substitution in consumption. That, in turn, occurs more readily when liquid asset holdings are low because the marginal propensity to consume is higher. The theory developed in ...
... prices with respect to a marginal perturbation in share holdings is higher when such a trade induces greater intertemporal substitution in consumption. That, in turn, occurs more readily when liquid asset holdings are low because the marginal propensity to consume is higher. The theory developed in ...