NBER WORKING PAPER SERIES TRENDS IN HOURS, BALANCED GROWTH,
... the possible exception of Japan). More generally, modern economies are subject to a variety of frictions and distortions that can account for permanent shifts–and, thus unit-root like behavior– in hours. Furthermore, this can occur without violating the central element of the balanced growth hypothe ...
... the possible exception of Japan). More generally, modern economies are subject to a variety of frictions and distortions that can account for permanent shifts–and, thus unit-root like behavior– in hours. Furthermore, this can occur without violating the central element of the balanced growth hypothe ...
Democracy Undermined, Economic Justice Denied
... benefit of foreign investors and wealthy Haitian factory owners. Small manufacturers, handicraft producers and informal-sector workers, whose contributions to the economy are significant, have been left to their own devices. It is estimated that the informal sector provides 66 percent of employment ...
... benefit of foreign investors and wealthy Haitian factory owners. Small manufacturers, handicraft producers and informal-sector workers, whose contributions to the economy are significant, have been left to their own devices. It is estimated that the informal sector provides 66 percent of employment ...
Foundations of Economics, 3e (Bade/Parkin)
... foreign currency. As a result, foreign goods and services become cheaper to U.S. citizens because U.S. citizens need to spend fewer dollars to buy foreign-produced goods and services. Simultaneously, U.S.-produced goods and services become more expensive to foreigners because they must spend more of ...
... foreign currency. As a result, foreign goods and services become cheaper to U.S. citizens because U.S. citizens need to spend fewer dollars to buy foreign-produced goods and services. Simultaneously, U.S.-produced goods and services become more expensive to foreigners because they must spend more of ...
2011:2 What is the natural interest rate?
... too much of those goods that are comparatively expensive to produce. This could lead to the misallocation of resources within individual firms and industries, and in the economy as a whole. This latter situation will be the case if the economy’s average price or wage level is not adjusted fast enoug ...
... too much of those goods that are comparatively expensive to produce. This could lead to the misallocation of resources within individual firms and industries, and in the economy as a whole. This latter situation will be the case if the economy’s average price or wage level is not adjusted fast enoug ...
Chapter 25
... But laypeople couldn’t point to anything wrong with it. It made sense, but it wasn’t satisfying. People thought, “Gee, Uncle Joe, who’s unemployed, would take a job at half the going wage. But he can’t find one—there just aren’t enough jobs to go around at any wage.” So most laypeople developed diff ...
... But laypeople couldn’t point to anything wrong with it. It made sense, but it wasn’t satisfying. People thought, “Gee, Uncle Joe, who’s unemployed, would take a job at half the going wage. But he can’t find one—there just aren’t enough jobs to go around at any wage.” So most laypeople developed diff ...
A Classical View of the Business Cycle
... framework based on a long-run simulated path for price stability. By comparing the current price level against the simulated long-run path a central bank could then evaluate whether the stance of monetary policy was too accommodative or too restrictive.8 Although the details are different, the foreg ...
... framework based on a long-run simulated path for price stability. By comparing the current price level against the simulated long-run path a central bank could then evaluate whether the stance of monetary policy was too accommodative or too restrictive.8 Although the details are different, the foreg ...
An introduction to reconciled estimates of GDP
... The alignment adjustment is applied to the series ‘changes in inventories’ (of expenditure) and ‘gross operating surplus of private non-financial corporations’ (of income). However, the alignment adjustments are attempting to ensure the growth is following the same path – not the same level. This me ...
... The alignment adjustment is applied to the series ‘changes in inventories’ (of expenditure) and ‘gross operating surplus of private non-financial corporations’ (of income). However, the alignment adjustments are attempting to ensure the growth is following the same path – not the same level. This me ...
The Money Supply and the Federal Reserve System
... government could A) encourage education and increase government spending. B) adopt policies that increase input prices and increase net taxes. C) lower the corporate profits tax and have the Fed raise the discount rate. D) raise taxes on corporate profits and lower federal income taxes. Answer: C ...
... government could A) encourage education and increase government spending. B) adopt policies that increase input prices and increase net taxes. C) lower the corporate profits tax and have the Fed raise the discount rate. D) raise taxes on corporate profits and lower federal income taxes. Answer: C ...
0538453672_298496
... • Size of government – bogus argument – Active fiscal policy must inevitably lead to a growing public sector © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or se ...
... • Size of government – bogus argument – Active fiscal policy must inevitably lead to a growing public sector © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or se ...
Chapter 21 Stabilization Policy with Backward
... in (1)? The answer may seem straightforward: In our AS-AD model a fluctuating rate of inflation means that people generally fail to anticipate the rate of inflation correctly. When households and firms underestimate or overestimate inflation, they end up with different real rates of return to their l ...
... in (1)? The answer may seem straightforward: In our AS-AD model a fluctuating rate of inflation means that people generally fail to anticipate the rate of inflation correctly. When households and firms underestimate or overestimate inflation, they end up with different real rates of return to their l ...
NBER WORKING PAPER SERIES Robert E. Hall Working Paper 15496
... buildup was accompanied by large increases in tax rates. Changes in military purchases from Vietnam, the Reagan years, or the two wars in Iraq were not large enough to deliver usable estimates of the multipliers. I conclude that the evidence on the magnitude of the multipliers available from U.S. h ...
... buildup was accompanied by large increases in tax rates. Changes in military purchases from Vietnam, the Reagan years, or the two wars in Iraq were not large enough to deliver usable estimates of the multipliers. I conclude that the evidence on the magnitude of the multipliers available from U.S. h ...
Kad Brunner*
... expenditure categories showed little, if any, serious exposure to the impact of borrowing costs according to this view. Countercyclic variations of the money stock imposed under the circumstances a heavy burden on a sector of the economy satisfying "social or political priorities." This social evalu ...
... expenditure categories showed little, if any, serious exposure to the impact of borrowing costs according to this view. Countercyclic variations of the money stock imposed under the circumstances a heavy burden on a sector of the economy satisfying "social or political priorities." This social evalu ...
7th Grade Social Studies Workbook
... that will come up repeatedly throughout this year. This important first unit covers the basic ideas in our study of government, geography, history, and economics this year. These terms will show up in each unit and on each major test we take as we go through this workbook. Standards/Elements This un ...
... that will come up repeatedly throughout this year. This important first unit covers the basic ideas in our study of government, geography, history, and economics this year. These terms will show up in each unit and on each major test we take as we go through this workbook. Standards/Elements This un ...
The World Bank and IMF Policies in Cote d`Ivoire
... Today, after more than fifty years, the World Bank and IMF have brought about more misery than wealth. Their remedy to every donor country is the package of structural adjustment policies that is intended as a “one-size-fits all” model of development. No matter the development stage of the donor co ...
... Today, after more than fifty years, the World Bank and IMF have brought about more misery than wealth. Their remedy to every donor country is the package of structural adjustment policies that is intended as a “one-size-fits all” model of development. No matter the development stage of the donor co ...
Economic Growth: the Solow Model Why Study Economic Growth?
... Economic growth allows each member of society to produce and consume more of all goods ...
... Economic growth allows each member of society to produce and consume more of all goods ...
Comparative Advantages of Mauritius and Seychelles
... result of different factor endowments in each particular economy. Because labour productivity differs among particular economies, each economy could specialize itself on production of a good, it manufactures relatively more efficiently and gains through goods exchange in the international market. Ri ...
... result of different factor endowments in each particular economy. Because labour productivity differs among particular economies, each economy could specialize itself on production of a good, it manufactures relatively more efficiently and gains through goods exchange in the international market. Ri ...
NBER WORKING PAPER SERIES THE RIDDLE OF THE GREAT PYRAMIDS Randall Morck
... listed firms, each of which controls yet more listed firms, each of which controls still other listed firms – in a broadening cascade of control. In each case, one firm controls the other with a large block of shares, and the controlled firm’s remaining shares are sold to public shareholders. Obviou ...
... listed firms, each of which controls yet more listed firms, each of which controls still other listed firms – in a broadening cascade of control. In each case, one firm controls the other with a large block of shares, and the controlled firm’s remaining shares are sold to public shareholders. Obviou ...
The Keynesian Cross
... of output was reached. Using the inventory adjustment process, inventories would be bulging from shelves and warehouses and rational firms would reduce output and production until inventory stocks return to the desired level. There is more discussion of this inventory adjustment process later in the ...
... of output was reached. Using the inventory adjustment process, inventories would be bulging from shelves and warehouses and rational firms would reduce output and production until inventory stocks return to the desired level. There is more discussion of this inventory adjustment process later in the ...
Principles of Economics, Case and Fair,8e
... transfer payments Cash payments made by the government to people who do not supply goods, services, or labor in exchange for these payments. They include Social Security benefits, veterans’ benefits, and welfare payments. ...
... transfer payments Cash payments made by the government to people who do not supply goods, services, or labor in exchange for these payments. They include Social Security benefits, veterans’ benefits, and welfare payments. ...
Intersectoral Linkages, Diverse Information, and Aggregate
... In our fourth and fifth propositions, we characterize a notion of symmetry for which the linearized model with incomplete information delivers aggregate dynamics that are identical to the full-information economy This aggregate irrelevance may hold even when sectoral dynamics are quite different th ...
... In our fourth and fifth propositions, we characterize a notion of symmetry for which the linearized model with incomplete information delivers aggregate dynamics that are identical to the full-information economy This aggregate irrelevance may hold even when sectoral dynamics are quite different th ...
Pushing on a string: US monetary policy is less powerful in
... resource utilization such as the output gap do not as clearly distinguish regimes. We find that fiscal policy seems to have counteracted monetary policy in recessions, but reinforced it in expansions, which provides one explanation for our results. These findings are relevant for the design of stabi ...
... resource utilization such as the output gap do not as clearly distinguish regimes. We find that fiscal policy seems to have counteracted monetary policy in recessions, but reinforced it in expansions, which provides one explanation for our results. These findings are relevant for the design of stabi ...