Pre-revolutionary Iranian Economic Policy Making: An Optimal Control Based Assessment Looney, R.E.
... where a(t) is a vector of targets for the variables y(t) and K(t) is ~ diagonal matrix giving the relative penalties for the squared deviations of the various variables from their targets. The problem becomes essentially one of minimizing the expected value of the loss function for T periods by choo ...
... where a(t) is a vector of targets for the variables y(t) and K(t) is ~ diagonal matrix giving the relative penalties for the squared deviations of the various variables from their targets. The problem becomes essentially one of minimizing the expected value of the loss function for T periods by choo ...
Bill of Rights in Action 32:3 - Constitutional Rights Foundation
... rise. Testifying about the crisis before Congress in 2010, Meanwhile, the Federal Reserve acted to use monbillionaire investor Warren Buffett said, “The whole etary stimulus to combat the rapidly increasing numAmerican public was caught up in a belief that American ber of business failures and unemp ...
... rise. Testifying about the crisis before Congress in 2010, Meanwhile, the Federal Reserve acted to use monbillionaire investor Warren Buffett said, “The whole etary stimulus to combat the rapidly increasing numAmerican public was caught up in a belief that American ber of business failures and unemp ...
NBER WORKING PAPER SERIES SHOULD SOCIAL SECURITY BENEFITS INCREASE WITH AGE? Martin Feldstejn
... uncertain retirement period. Because insurance companies cannot know as much about individuals' health and life expectancy as the individuals themselves, ...
... uncertain retirement period. Because insurance companies cannot know as much about individuals' health and life expectancy as the individuals themselves, ...
of Macroeconomics
... sum society” (the rate of growth is zero), any extra good or service enjoyed by one person requires that something else is taken from someone else. For example in order to build more houses, the economy has to sacrifice building fewer hospitals. Copyright © 2012 Pearson Addison-Wesley. All rights re ...
... sum society” (the rate of growth is zero), any extra good or service enjoyed by one person requires that something else is taken from someone else. For example in order to build more houses, the economy has to sacrifice building fewer hospitals. Copyright © 2012 Pearson Addison-Wesley. All rights re ...
Topic Outline - Matthew H. Shapiro
... There will be many definitions in this class, and each definition may have several key elements. The best way to learn which elements are key to a definition is to break the definition down into its component parts and understand how those parts relate to each other. We will work through this proces ...
... There will be many definitions in this class, and each definition may have several key elements. The best way to learn which elements are key to a definition is to break the definition down into its component parts and understand how those parts relate to each other. We will work through this proces ...
Chapter 1 - Central Bank of Sri Lanka
... concessions in order to rein in the escalating cost of goods and services. At the same time, the government continued with its higher public investment programme, aiming at expanding the country’s economic and social infrastructure to facilitate future economic growth. The government’s ability to re ...
... concessions in order to rein in the escalating cost of goods and services. At the same time, the government continued with its higher public investment programme, aiming at expanding the country’s economic and social infrastructure to facilitate future economic growth. The government’s ability to re ...
Challenges Facing the Russian Economy after the Crisis
... In 1999–2008, Russia was one of the fastest growing economies in the world. In 2009, it was one of the worst affected by the global economic crisis. Its GDP fell by 8 percent, more than any other economy in the Group of Twenty (G-20)—the group of the world’s largest economies. Does this mean that Vl ...
... In 1999–2008, Russia was one of the fastest growing economies in the world. In 2009, it was one of the worst affected by the global economic crisis. Its GDP fell by 8 percent, more than any other economy in the Group of Twenty (G-20)—the group of the world’s largest economies. Does this mean that Vl ...
FRBSF E L
... from 1854 to 1938. As shown by the red line in Figure 3, mortality rates for expansions before World War II increased with the length of the expansion. This positive duration dependence means that prewar expansions were more likely to end as they grew older. The evidence that duration dependence dis ...
... from 1854 to 1938. As shown by the red line in Figure 3, mortality rates for expansions before World War II increased with the length of the expansion. This positive duration dependence means that prewar expansions were more likely to end as they grew older. The evidence that duration dependence dis ...
Keynes and Polanyi: the 1920s and the 1990s - IEIM-UQAM
... competition on a world scale, driving down real wages and commodity prices to benefit a relatively small number of large transnational corporations which control access to technology and markets. Rich countries like Canada can no longer afford the universal right to free education and health care av ...
... competition on a world scale, driving down real wages and commodity prices to benefit a relatively small number of large transnational corporations which control access to technology and markets. Rich countries like Canada can no longer afford the universal right to free education and health care av ...
Chapter 13 and 16: The Federal Reserve and Monetary Policy
... • #2: Adjusting the discount rate--The discount rate is the interest rate that banks pay to borrow money from the Fed. When banks other than the Federal Reserve loan other banks money, the interest rate charged is known as the Federal Funds Rate, and is typically* approximately a percentage point be ...
... • #2: Adjusting the discount rate--The discount rate is the interest rate that banks pay to borrow money from the Fed. When banks other than the Federal Reserve loan other banks money, the interest rate charged is known as the Federal Funds Rate, and is typically* approximately a percentage point be ...
Notes 11: Examples of Fiscal Policy
... G, decreases the IS curve (and the AD curve – they are both the same – just drawn in different spaces) will fall. This causes interest rates to fall (as does output). A lower level of output will decrease the demand for money (we need less money in the economy because there is less stuff to buy). Th ...
... G, decreases the IS curve (and the AD curve – they are both the same – just drawn in different spaces) will fall. This causes interest rates to fall (as does output). A lower level of output will decrease the demand for money (we need less money in the economy because there is less stuff to buy). Th ...
Government Spending Effects in a Small Open Economy
... in the closed economy. Negative wealth effects are affected by the terms of trade. When the government spending increases agents expect higher present value of taxes. But the terms of trade changes the present value of the government spending. When the government spending is revaluated in CPI terms, ...
... in the closed economy. Negative wealth effects are affected by the terms of trade. When the government spending increases agents expect higher present value of taxes. But the terms of trade changes the present value of the government spending. When the government spending is revaluated in CPI terms, ...
An Empirical Investigation between Money Supply - Econ
... methodology of demand management critically spoiled the free market mechanism while stability in prices is a necessary base. A second salient feature of the monetarist approach to the monetary policy was the focus on supply side economy. They ruled out any discussion for demand management policies b ...
... methodology of demand management critically spoiled the free market mechanism while stability in prices is a necessary base. A second salient feature of the monetarist approach to the monetary policy was the focus on supply side economy. They ruled out any discussion for demand management policies b ...
Aggregate Supply
... the overall price level. It is not the sum of individual firm supply curves. It is the relationship between production and the price level. It does not hold costs and prices constant, as in microeconomics. ...
... the overall price level. It is not the sum of individual firm supply curves. It is the relationship between production and the price level. It does not hold costs and prices constant, as in microeconomics. ...
Finance, Stagnation and Poverty in the World Economy
... These arguments of course do not hold for the leading capitalist power, the U.S., which, because its currency is considered “as good as gold”, is likely to be free of the prospects of such potentially debilitating capital flights. But here another important factor intervenes which also keeps its fis ...
... These arguments of course do not hold for the leading capitalist power, the U.S., which, because its currency is considered “as good as gold”, is likely to be free of the prospects of such potentially debilitating capital flights. But here another important factor intervenes which also keeps its fis ...
Answers for Chapters 11 and 12
... AD1 to AD2 in Figure 11.15(b). The short-run equilibrium is at point B. Output increases, the real interest rate increases, employment increases, and the price level is unchanged. To restore long-run equilibrium, the price level rises, shifting the LM curve from LM1 to LM2 in Figure 11.15(a) and the ...
... AD1 to AD2 in Figure 11.15(b). The short-run equilibrium is at point B. Output increases, the real interest rate increases, employment increases, and the price level is unchanged. To restore long-run equilibrium, the price level rises, shifting the LM curve from LM1 to LM2 in Figure 11.15(a) and the ...
NBER WORKING PAPER SERIES FISCAL DEFICITS AND RELATIVE PRICES IN A
... 2. Model structure: Consumption and production This section describes a small open economy with a growing population ...
... 2. Model structure: Consumption and production This section describes a small open economy with a growing population ...
Press Release - University of Macau
... the first half of 2009, Macao’s GDP recorded an impressive growth rate of 25.3% in the first-three quarters of 2010. The low base of comparison may not happen again in 2011, but the momentum of growth of Macao economy is expected to go on. According to the IMF forecasts on January 2011, the global e ...
... the first half of 2009, Macao’s GDP recorded an impressive growth rate of 25.3% in the first-three quarters of 2010. The low base of comparison may not happen again in 2011, but the momentum of growth of Macao economy is expected to go on. According to the IMF forecasts on January 2011, the global e ...
Global Imbalances, Peak Oil, and the Next Global Economic Crisis
... and expanded. National income was redistributed from capital to labor and social spending. All of these contributed to the rapid expansion of effective demand in the advanced capitalist countries during the 1950s and 1960s. At the global level, under the Bretton Woods System, fixed exchange rates we ...
... and expanded. National income was redistributed from capital to labor and social spending. All of these contributed to the rapid expansion of effective demand in the advanced capitalist countries during the 1950s and 1960s. At the global level, under the Bretton Woods System, fixed exchange rates we ...
The Demand for Domestic Goods and Net Exports
... and the Trade Balance NX S (T G) I From the equation above, we conclude: An increase in investment must be reflected in either an increase in private saving or public saving, or in a deterioration of the trade balance. An increase in the budget deficit must be reflected in an increase in ei ...
... and the Trade Balance NX S (T G) I From the equation above, we conclude: An increase in investment must be reflected in either an increase in private saving or public saving, or in a deterioration of the trade balance. An increase in the budget deficit must be reflected in an increase in ei ...
UNIVERSITY OF DELHI DEPARTMENT OF ECONOMICS SYLLABUS OF COURSES TO BE OFFERED
... CHOICE BASED CREDIT SYSTEM (CBCS): The CBCS provides an opportunity for the students to choose courses from the prescribed courses comprising core, elective/minor or skill based courses. The courses can be evaluated following the grading system, which is considered to be better than the conventiona ...
... CHOICE BASED CREDIT SYSTEM (CBCS): The CBCS provides an opportunity for the students to choose courses from the prescribed courses comprising core, elective/minor or skill based courses. The courses can be evaluated following the grading system, which is considered to be better than the conventiona ...
mmi12-Hristov 17805180 en
... in the (very) short run each firm has some monopoly power over a fraction of all consumers. This fraction equals the firm’s market share. In particular, Phelps and Winter (1970) assume that the transmission of information about prices evolves (proceeds) through random encounters among customers in w ...
... in the (very) short run each firm has some monopoly power over a fraction of all consumers. This fraction equals the firm’s market share. In particular, Phelps and Winter (1970) assume that the transmission of information about prices evolves (proceeds) through random encounters among customers in w ...
Budget and the Economy
... and reflect the government’s priorities; and they distribute income through the government’s power to tax and spend. In addition, the federal budget constitutes one-fifth of the economy and thus plays an important role in promoting economic stability and growth. Decisions made during each budget cyc ...
... and reflect the government’s priorities; and they distribute income through the government’s power to tax and spend. In addition, the federal budget constitutes one-fifth of the economy and thus plays an important role in promoting economic stability and growth. Decisions made during each budget cyc ...
Welfare gains from the adoption of proportional taxation
... decision. Using a calibrated micro-founded general-equilibrium model with informal sector a la Conesa et al. (2001), this study provides a quantitative evaluation of the effect resulting from the introduction of flat income taxation in Bulgaria in 2008.1 Under proportional taxation system featuring ...
... decision. Using a calibrated micro-founded general-equilibrium model with informal sector a la Conesa et al. (2001), this study provides a quantitative evaluation of the effect resulting from the introduction of flat income taxation in Bulgaria in 2008.1 Under proportional taxation system featuring ...