Aggregate Demand and Aggregate Supply
... • Upward sloping aggregate supply implies that attempts to increase aggregate output result in an increase in both output and the price level. – When the demand for goods and services rises, firms increase their demand for inputs. • When all firms demand more inputs and the market supply of inputs i ...
... • Upward sloping aggregate supply implies that attempts to increase aggregate output result in an increase in both output and the price level. – When the demand for goods and services rises, firms increase their demand for inputs. • When all firms demand more inputs and the market supply of inputs i ...
GDP chpt 10 - Cobb Learning
... G excludes transfer payments, such as Social Security or unemployment insurance benefits. They are not purchases of g&s. ...
... G excludes transfer payments, such as Social Security or unemployment insurance benefits. They are not purchases of g&s. ...
Liquidity, Innovation, and Endogenous Growth
... by issuing more public debt, the liquidity premium decreases, as documented by Krishnamurthy and Vissing-Jorgensen (2012). Firms are then more willing to hoard money-like securities and increase their target cash reserves; i.e., they increase the resources that are naturally meant for the financing ...
... by issuing more public debt, the liquidity premium decreases, as documented by Krishnamurthy and Vissing-Jorgensen (2012). Firms are then more willing to hoard money-like securities and increase their target cash reserves; i.e., they increase the resources that are naturally meant for the financing ...
STATE BANK OF PAKISTAN SBP Working Paper Series
... analysis by evaluating alternative interest rate rules and calibrating the model using data from Pakistan economy. The learning and determinacy analysis suggests that monetary authority in developing economies should broadly follow the Taylor principle and put some weight on exchange rate fluctuatio ...
... analysis by evaluating alternative interest rate rules and calibrating the model using data from Pakistan economy. The learning and determinacy analysis suggests that monetary authority in developing economies should broadly follow the Taylor principle and put some weight on exchange rate fluctuatio ...
Instruments, rules and household debt: The effects of fiscal policy J. Andrés
... many of these governments are struggling to reverse the process of massive debt accumulation that has occurred over the last few years, by reducing expenditures and/or increasing taxes. These policies have been carried out against the backdrop of economies with heavily leveraged households, which me ...
... many of these governments are struggling to reverse the process of massive debt accumulation that has occurred over the last few years, by reducing expenditures and/or increasing taxes. These policies have been carried out against the backdrop of economies with heavily leveraged households, which me ...
22-66 What Happens When Potential Output Changes?
... • Innovations in mortgages and other forms of personal credit made it easier for households and businesses to borrow. • They were then better able to smooth their spending during periods of temporary income fluctuations. • However, rising levels of risky debt eventually led to record defaults during ...
... • Innovations in mortgages and other forms of personal credit made it easier for households and businesses to borrow. • They were then better able to smooth their spending during periods of temporary income fluctuations. • However, rising levels of risky debt eventually led to record defaults during ...
Global Quality Competition, O¤shoring and Wage Inequality Giammario Impullitti (Cambridge University)
... sector leads to a more e¢ cient international allocation of innovation e¤orts, thereby increasing the global demand for skills and the skill premium.2 This is the global e¢ ciency e¤ect. As before, an increase in the education premium increases the share of skilled workers and reduces their average ...
... sector leads to a more e¢ cient international allocation of innovation e¤orts, thereby increasing the global demand for skills and the skill premium.2 This is the global e¢ ciency e¤ect. As before, an increase in the education premium increases the share of skilled workers and reduces their average ...
Financial Structure and the Impact of Monetary Policy on Property
... predictable effects on asset prices. Needless to say, if this criterion is not satisfied, any ...
... predictable effects on asset prices. Needless to say, if this criterion is not satisfied, any ...
Inflation, Inequality and Social Conflict
... political instability in Cukierman et al. are not signi…cant once these other factors are controlled for. Desai et al. (2002) argue that inequality and the political system interact to drive in‡ation performance. In high inequality countries, more democracy leads to higher in‡ation as a result of po ...
... political instability in Cukierman et al. are not signi…cant once these other factors are controlled for. Desai et al. (2002) argue that inequality and the political system interact to drive in‡ation performance. In high inequality countries, more democracy leads to higher in‡ation as a result of po ...
Technical Report: Coincident and Leading Economic Indicators
... customers. NPPD provides an estimate of native load for electricity generation, which is sold to NPPD retail and wholesale customers in the State of Nebraska. Aggregate electricity sales from these three utilities provide a broad-based measure of the aggregate Nebraska economy. Electricity is an imp ...
... customers. NPPD provides an estimate of native load for electricity generation, which is sold to NPPD retail and wholesale customers in the State of Nebraska. Aggregate electricity sales from these three utilities provide a broad-based measure of the aggregate Nebraska economy. Electricity is an imp ...
Государственный университет – Высшая школа экономики
... of course, who traditionally controlled the whole process of unemployment benefit payments. 3. There has been growing criticism of the law in relation to hiring workers and letting them go. 4. The employers are slow and unwilling to hire staff as this can mean financial obligation and they only deci ...
... of course, who traditionally controlled the whole process of unemployment benefit payments. 3. There has been growing criticism of the law in relation to hiring workers and letting them go. 4. The employers are slow and unwilling to hire staff as this can mean financial obligation and they only deci ...
pen04Knaap-2 225520 en
... with adverse effects on the real return to pension funds’ wealth. All these setbacks loom at a time when the pension funds are more vulnerable to risk because of their shrinking premium base. Thus, not only pay-as-you-go systems but funded systems appear to be vulnerable to ageing. This paper aims t ...
... with adverse effects on the real return to pension funds’ wealth. All these setbacks loom at a time when the pension funds are more vulnerable to risk because of their shrinking premium base. Thus, not only pay-as-you-go systems but funded systems appear to be vulnerable to ageing. This paper aims t ...
Principles of National Accounting for Non
... which might be classified as “defensive” rather than final expenditures. In part, the need for rethinking the definition of output arises because non-market accounts might choose to tailor their design to economic welfare rather than, as in the NEA, primarily as a measure of current production and i ...
... which might be classified as “defensive” rather than final expenditures. In part, the need for rethinking the definition of output arises because non-market accounts might choose to tailor their design to economic welfare rather than, as in the NEA, primarily as a measure of current production and i ...
Intersectoral Linkages, Diverse Information, and Aggregate Dynamics in a Neoclassical Model ∗
... output linkages, in which each firm’s output is (potentially) an input in the production of other firms. Recent work in the vein of Long and Plosser (1983) has explored how intermediate production structure influences the propagation of sectoral shocks to the aggregate economy.1 We focus attention, ...
... output linkages, in which each firm’s output is (potentially) an input in the production of other firms. Recent work in the vein of Long and Plosser (1983) has explored how intermediate production structure influences the propagation of sectoral shocks to the aggregate economy.1 We focus attention, ...
Allocation, distribution, and scale: towards an
... marginal social benefit of a larger population or greater per capita resource use (i.e., larger scale). This balance requires calculation and imposition of shadow prices that value the in natura use of all resources in terms commensurate with the customary pecuniary exchange valuation of commodities ...
... marginal social benefit of a larger population or greater per capita resource use (i.e., larger scale). This balance requires calculation and imposition of shadow prices that value the in natura use of all resources in terms commensurate with the customary pecuniary exchange valuation of commodities ...
Chapter 15 Deficit and Debt 2 It is the Flow
... In the short run, if the economy is below potential, deficits are good because deficits increase expenditures moving output closer to potential Long-run surpluses are good because they provide saving for investment ...
... In the short run, if the economy is below potential, deficits are good because deficits increase expenditures moving output closer to potential Long-run surpluses are good because they provide saving for investment ...
Economic Systems of OECD Nations: Impact and Evolution
... or the percentage of workers covered by collective bargaining contracts); while still others, on expert opinion, for instance, the level of the economy at which wages are most often bargained or the competitiveness of the economic environment). When I present the summary data below, I also specify w ...
... or the percentage of workers covered by collective bargaining contracts); while still others, on expert opinion, for instance, the level of the economy at which wages are most often bargained or the competitiveness of the economic environment). When I present the summary data below, I also specify w ...
A survey of the effects of discretionary fiscal policy
... between sectors (though labour is perfectly mobile). Either capital can be shifted between sectors at a loss or new capital has to be generated within the sector in which it is to be used. The argument for using a two-sector model is that government spending is often concentrated in specific sectors ...
... between sectors (though labour is perfectly mobile). Either capital can be shifted between sectors at a loss or new capital has to be generated within the sector in which it is to be used. The argument for using a two-sector model is that government spending is often concentrated in specific sectors ...
Reassessing Discretionary Fiscal Policy
... typical approach is to place alternative rules into macro models and simulate the models to see which policies work well. The research is normative because its purpose is to find and recommend good policies to be used in practice. Performance measures are stated in terms of the fluctuations of outpu ...
... typical approach is to place alternative rules into macro models and simulate the models to see which policies work well. The research is normative because its purpose is to find and recommend good policies to be used in practice. Performance measures are stated in terms of the fluctuations of outpu ...
Monetary Conditions in the Euro Area
... This paper takes a closer look at the leading indicator qualities of monetary conditions. For this purpose the relationship of two widely used monetary conditions indicators to the output gap as a proxy for aggregate demand conditions in the euro area is considered. A simple plot of both variables i ...
... This paper takes a closer look at the leading indicator qualities of monetary conditions. For this purpose the relationship of two widely used monetary conditions indicators to the output gap as a proxy for aggregate demand conditions in the euro area is considered. A simple plot of both variables i ...
UNIVERSITY OF CALICUT
... Teaching of Economics lack relevance if they do not help in the understanding of the laws of motion of the economy and society where one lives. The idea is to make the student at the undergraduate level understand correctly the basic concepts and terms used in Economics and to give him an exposure ...
... Teaching of Economics lack relevance if they do not help in the understanding of the laws of motion of the economy and society where one lives. The idea is to make the student at the undergraduate level understand correctly the basic concepts and terms used in Economics and to give him an exposure ...
The Effects of Fiscal Policy on Consumption and
... lack of attention was at odds with the fact that several key public debates on the role of fiscal policy were based on arguments eliciting the macroeconomic importance of government spending and taxation. The discussions around the Balanced Budget Amendment in the US, the deficit limits of the Growt ...
... lack of attention was at odds with the fact that several key public debates on the role of fiscal policy were based on arguments eliciting the macroeconomic importance of government spending and taxation. The discussions around the Balanced Budget Amendment in the US, the deficit limits of the Growt ...
Budget Paper 1: Budget Strategy and Outlook
... so without adverse effects on economic performance and intergenerational equity in the face of an ageing population. First, Australia’s reliance on foreign capital is often seen as exposing us to a somewhat higher degree of external vulnerability, notwithstanding that we benefit from importing capit ...
... so without adverse effects on economic performance and intergenerational equity in the face of an ageing population. First, Australia’s reliance on foreign capital is often seen as exposing us to a somewhat higher degree of external vulnerability, notwithstanding that we benefit from importing capit ...
Measuring the Wealth of Nations
... just one of the many transactions that take place in the U.S. economy. Say you bought a jar of peanut butter when you went to the grocery store. Although you may not have thought beyond your next peanut butter and jelly sandwich, your purchase contributed to the size of the economy. Consider some of ...
... just one of the many transactions that take place in the U.S. economy. Say you bought a jar of peanut butter when you went to the grocery store. Although you may not have thought beyond your next peanut butter and jelly sandwich, your purchase contributed to the size of the economy. Consider some of ...