A Post–Keynesian Policy Model
... regime as either profit–led or wage–led, and consequences therefrom for distributive policies. The discussion rests on two strands of literature. First, the Neo–Kaleckian literature on interactions between the rate of capacity utilization and the distribution of income, see Rowthorn (1982), Dutt (198 ...
... regime as either profit–led or wage–led, and consequences therefrom for distributive policies. The discussion rests on two strands of literature. First, the Neo–Kaleckian literature on interactions between the rate of capacity utilization and the distribution of income, see Rowthorn (1982), Dutt (198 ...
The Political Economy of Privatization in the Maghreb
... laws. Only one of the political parties, the Modernist Islamist Party (MSP), backed by some small entrepreneurs and businessmen with Islamist “leanings” backed the privatization process outside the hydrocarbon and public service sectors (Werenfels 2002). Resistance also came from elites and workers, ...
... laws. Only one of the political parties, the Modernist Islamist Party (MSP), backed by some small entrepreneurs and businessmen with Islamist “leanings” backed the privatization process outside the hydrocarbon and public service sectors (Werenfels 2002). Resistance also came from elites and workers, ...
Globalization and Central Bank Independence: A partisan explanation
... country becomes more globalized.4 This incentive should disproportionately affect leftist governments, which may need more credibility with international investors. As a result, these governments should be more likely to reform the bank as globalization progresses in order to demonstrate a commitme ...
... country becomes more globalized.4 This incentive should disproportionately affect leftist governments, which may need more credibility with international investors. As a result, these governments should be more likely to reform the bank as globalization progresses in order to demonstrate a commitme ...
Fiscal Policy in an Unemployment Crisis
... invoked to support the effect of fiscal policy, expressing concerns over their theoretical and empirical foundations. This paper offers a new perspective on these issues by exploring a channel in which equilibrium unemployment dynamics can increase the efficacy of government spending considerably. T ...
... invoked to support the effect of fiscal policy, expressing concerns over their theoretical and empirical foundations. This paper offers a new perspective on these issues by exploring a channel in which equilibrium unemployment dynamics can increase the efficacy of government spending considerably. T ...
The Role of Automatic Stabilizers in the US Business
... ing better automatic stabilizers was one of the most promising routes for better macroeconomic policy. This paper asks the question: are the automatic stabilizers effective at reducing the volatility of macroeconomic fluctuations? More concretely, we propose a business-cycle model that captures the ...
... ing better automatic stabilizers was one of the most promising routes for better macroeconomic policy. This paper asks the question: are the automatic stabilizers effective at reducing the volatility of macroeconomic fluctuations? More concretely, we propose a business-cycle model that captures the ...
Agri-business Research and Development
... world’s fastest growing economies and an increasingly affluent middle class, is currently Canada’s second largest export market for agri-food. This demand will only grow in the coming years and decades as China’s economy develops and its domestic consumption patterns mature. Given the Chinese domest ...
... world’s fastest growing economies and an increasingly affluent middle class, is currently Canada’s second largest export market for agri-food. This demand will only grow in the coming years and decades as China’s economy develops and its domestic consumption patterns mature. Given the Chinese domest ...
Technology, unemployment, and relative wages in a global economy
... The role of technical change in giving rise to observed movements in skilled to unskilled wages has been a source of great interest and controversy. Some researchers, as Berman et al. (1994), have identified technical change as the central cause for the decline of unskilled relative wages in the Uni ...
... The role of technical change in giving rise to observed movements in skilled to unskilled wages has been a source of great interest and controversy. Some researchers, as Berman et al. (1994), have identified technical change as the central cause for the decline of unskilled relative wages in the Uni ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... its debt obligations and as well maintain adequate domestic investment needed for the economy’s growth. The extent to which this economic condition (growth) improves depends highly on the optimality of these sources of funds and other macro-economic factors such as interest rate, exchange rate, infl ...
... its debt obligations and as well maintain adequate domestic investment needed for the economy’s growth. The extent to which this economic condition (growth) improves depends highly on the optimality of these sources of funds and other macro-economic factors such as interest rate, exchange rate, infl ...
NBER WORKING PAPER SERIES DOES STABILIZING INFLATION CONTRIBUTE TO STABILIZING ECONOMIC ACTIVITY?
... arise if inflation expectations are well anchored. The oil shocks in the 1970s caused large increases in inflation not only through their direct effects on household energy prices but also through their “second round” effects on the prices of other goods that reflected, in part, expectations of hig ...
... arise if inflation expectations are well anchored. The oil shocks in the 1970s caused large increases in inflation not only through their direct effects on household energy prices but also through their “second round” effects on the prices of other goods that reflected, in part, expectations of hig ...
Costly capital reallocation and the effects of government spending
... Firms in each sector can augment their capital stocks by buying either newly-produced investment goods or used capital from the other sector. New and used capital are both available with the same lag. New capital is not productive until one period after it is produced; in order to be shifted across ...
... Firms in each sector can augment their capital stocks by buying either newly-produced investment goods or used capital from the other sector. New and used capital are both available with the same lag. New capital is not productive until one period after it is produced; in order to be shifted across ...
NBER WORKING PAPER SERIES STABILIZATION POLICIES IN OPEN ECONOMIES Richard C. Marston
... the trade balance, so no foreign disturbance can affect the economy. This strong conclusion about insulation has often been used as an argument for flexible rates, even though it is very sensitive to assumptions about capital mobility. ...
... the trade balance, so no foreign disturbance can affect the economy. This strong conclusion about insulation has often been used as an argument for flexible rates, even though it is very sensitive to assumptions about capital mobility. ...
“The text was adapted by The Saylor Foundation under the CC BY
... serv ices from the United States. In the same y ear, U.S. residents, firms, and government agencies purchased $2,677.9 billion worth of goods and services from foreign countries. The difference between these two figures, −$7 06.6 billion, represented the net exports of the U.S. economy in the third ...
... serv ices from the United States. In the same y ear, U.S. residents, firms, and government agencies purchased $2,677.9 billion worth of goods and services from foreign countries. The difference between these two figures, −$7 06.6 billion, represented the net exports of the U.S. economy in the third ...
apers g P orkin al Bank W
... they seek to distinguish between boom and non-boom periods. However, they estimate their panel VAR using the standard fixed-effect panel estimator which is likely to yield biased results for reasons we discuss below. ...
... they seek to distinguish between boom and non-boom periods. However, they estimate their panel VAR using the standard fixed-effect panel estimator which is likely to yield biased results for reasons we discuss below. ...
Parkin-Bade Chapter 22
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
... A Keynesian macroeconomist believes that left alone, the economy would rarely operate at full employment and that to achieve and maintain full employment, active help from fiscal policy and monetary policy is required. The term “Keynesian” derives from the name of one of the twentieth century’s most ...
Principles of Economics, Case and Fair,9e
... 1.Keynesians believe that the macroeconomy is likely to fluctuate too much if left on its own 2.Others (known by various names but whose antecedents are the classical school) claim that fiscal and monetary policies are incapable of stabilizing the economy and, even worse, may be destabilizing and ha ...
... 1.Keynesians believe that the macroeconomy is likely to fluctuate too much if left on its own 2.Others (known by various names but whose antecedents are the classical school) claim that fiscal and monetary policies are incapable of stabilizing the economy and, even worse, may be destabilizing and ha ...
demographic changes and fiscal policy in mena countries
... countries, focusing specifically on the economic impacts coming from the conflict between social security and education, which are two of the most government programs in any country. Pension systems in MENA countries have structural problems. To start with, they are financially unsustainable. While ...
... countries, focusing specifically on the economic impacts coming from the conflict between social security and education, which are two of the most government programs in any country. Pension systems in MENA countries have structural problems. To start with, they are financially unsustainable. While ...
Inflation, Disinflation, and Deflation in China: Identifying the Shocks
... 1983:12-1994:05. Employing a variety of vector error-correction models (VECMs) that include variables such as money aggregates, bank credit, output and prices in the empirical estimation, he argues that tight monetary management in the early transition period played an important role in influencing ...
... 1983:12-1994:05. Employing a variety of vector error-correction models (VECMs) that include variables such as money aggregates, bank credit, output and prices in the empirical estimation, he argues that tight monetary management in the early transition period played an important role in influencing ...
AP US History
... The multiplier: Informal Introduction. First we assume that producers are willing to suplly additional output at a fixed price. Then we take the interest rate as give. Then we assume that there is no government spending and no taxes. Finally we assume that exports&imports are zero. -The increase in ...
... The multiplier: Informal Introduction. First we assume that producers are willing to suplly additional output at a fixed price. Then we take the interest rate as give. Then we assume that there is no government spending and no taxes. Finally we assume that exports&imports are zero. -The increase in ...
NBER WORKING PAPER SERIES Christina D. Romer David H. Romer
... opinion led to volatile output and bouts of inflation. Keynesian economists, such as Blinder and Goldfeld (1976), argued that the Federal Reserve of the 1950s targeted output below the natural rate and therefore unnecessarily restrained output growth. More recent studies of postwar monetary policy h ...
... opinion led to volatile output and bouts of inflation. Keynesian economists, such as Blinder and Goldfeld (1976), argued that the Federal Reserve of the 1950s targeted output below the natural rate and therefore unnecessarily restrained output growth. More recent studies of postwar monetary policy h ...
How does a federal minimum wage hike affect
... any other reproduction, distribution, republication, or creation of derivative works of Chicago Fed ...
... any other reproduction, distribution, republication, or creation of derivative works of Chicago Fed ...
Graduate School of Management - personal.kent.edu
... reports both GDP (billions of dollars) and GDP (billions of 1997 dollars). The first item is nominal GDP, while the second is real GDP. If we want to compare how much more goods and services we have now than say in 1990, we want to use Real GDP. There is nothing magic about using 1997 dollars. You w ...
... reports both GDP (billions of dollars) and GDP (billions of 1997 dollars). The first item is nominal GDP, while the second is real GDP. If we want to compare how much more goods and services we have now than say in 1990, we want to use Real GDP. There is nothing magic about using 1997 dollars. You w ...
Small, Medium-sized, and Large Businesses
... makes comparisons across entities and jurisdictions problematic. Size of entity has much less meaning given the wide variety of practices across government in terms of consolidating payroll into small or large units. As a result, this paper focuses on the business sector. ...
... makes comparisons across entities and jurisdictions problematic. Size of entity has much less meaning given the wide variety of practices across government in terms of consolidating payroll into small or large units. As a result, this paper focuses on the business sector. ...