Chapter 25 - Aggregate Demand and Aggregate Supply
... • Can summarize impact of price-level changes – When government purchases increase, horizontal shift of AD curve measures how much real GDP would increase if price level remained constant • But because price level rises, real GDP rises by less than horizontal shift in AD curve ...
... • Can summarize impact of price-level changes – When government purchases increase, horizontal shift of AD curve measures how much real GDP would increase if price level remained constant • But because price level rises, real GDP rises by less than horizontal shift in AD curve ...
The Economy of People`s Republic of China from 1953
... in agricultural TFP. The rest of the wedges played a relatively minor role. We then study what would happen if 1953-1978 policies continued after 1978. This is an important counterfactual as it provides a benchmark against which to measure the success of the post-1978 reforms. Specifically, we compa ...
... in agricultural TFP. The rest of the wedges played a relatively minor role. We then study what would happen if 1953-1978 policies continued after 1978. This is an important counterfactual as it provides a benchmark against which to measure the success of the post-1978 reforms. Specifically, we compa ...
Chapter 14 - Aufinance
... Monetary Policy Objectives Monetary policy objectives stem from the mandate of the Board of Governors of the Federal Reserve System as set out in the Federal Reserve Act of 1913 and its amendments. The law states: The Fed and the FOMC shall maintain long-term growth of the monetary and credit aggreg ...
... Monetary Policy Objectives Monetary policy objectives stem from the mandate of the Board of Governors of the Federal Reserve System as set out in the Federal Reserve Act of 1913 and its amendments. The law states: The Fed and the FOMC shall maintain long-term growth of the monetary and credit aggreg ...
HKUMacroch02_5e
... There are clear exceptions, however. In 1979 and 1980, the increase in the CPI was significantly larger than the increase in the GDP deflator. ...
... There are clear exceptions, however. In 1979 and 1980, the increase in the CPI was significantly larger than the increase in the GDP deflator. ...
A theory of countercyclical government multiplier
... recent literature has argued that the effect of government policy can be different across stages of the business cycle if the zero lower bound on nominal interest rates is reached during a recession.1 In this paper, I present a New Keynesian model in which the effect of government policy varies acro ...
... recent literature has argued that the effect of government policy can be different across stages of the business cycle if the zero lower bound on nominal interest rates is reached during a recession.1 In this paper, I present a New Keynesian model in which the effect of government policy varies acro ...
Unit 5 - Models of Output Determination
... lowers interest rates in the short run. This increases borrowing and spending, and stimulates the economy in the short run. but it causes inflation and increases interest rates, and slows down the economy in the long run. ...
... lowers interest rates in the short run. This increases borrowing and spending, and stimulates the economy in the short run. but it causes inflation and increases interest rates, and slows down the economy in the long run. ...
Franz Seitz - OTH Amberg
... (1993), finds no evidence of asymmetries on industrial production. Borio/Fritz (1995) investigate whether there exists a possible asymmetric effect induced by an asymmetric passthrough of policy and money market rates to bank lending rates. The only country in their study where this is the case is G ...
... (1993), finds no evidence of asymmetries on industrial production. Borio/Fritz (1995) investigate whether there exists a possible asymmetric effect induced by an asymmetric passthrough of policy and money market rates to bank lending rates. The only country in their study where this is the case is G ...
UAE Goes Global
... the leadership to modernize the country and create an attractive business environment. To further invigorate private sector growth, the leadership of UAE established trade policies favorable to foreign investment including re-exporting and other private sector enterprises. The diversification strateg ...
... the leadership to modernize the country and create an attractive business environment. To further invigorate private sector growth, the leadership of UAE established trade policies favorable to foreign investment including re-exporting and other private sector enterprises. The diversification strateg ...
Class Conflict and the Cambridge Theory of
... 5. Bringing class back to Cambridge Though having a class structure embedded in aggregate demand (the Pasinetti contribution), class con‡ict in the Kaleckian model is opaque. This is because it is made to operate through the mark-up, which in turn depends on the rate of capacity utilization. However ...
... 5. Bringing class back to Cambridge Though having a class structure embedded in aggregate demand (the Pasinetti contribution), class con‡ict in the Kaleckian model is opaque. This is because it is made to operate through the mark-up, which in turn depends on the rate of capacity utilization. However ...
- International Trade Union Confederation
... The advantage of this strategy is that in time the initial investment should generate benefits worth far more to society than it costs and therefore could justify increased public deficit and borrowing in the initial phase. There will be savings in public expenditure from the reduction in unemployme ...
... The advantage of this strategy is that in time the initial investment should generate benefits worth far more to society than it costs and therefore could justify increased public deficit and borrowing in the initial phase. There will be savings in public expenditure from the reduction in unemployme ...
Establishing the principles: Quality Change and Complementarity
... sometimes captured in current measures and no additional adjustments were necessary. An example given was that complementarity is apparent when the public sector benefits from efficiency gains made by the private sector (as in the purchase of better drugs). One proposal made was that only a discerni ...
... sometimes captured in current measures and no additional adjustments were necessary. An example given was that complementarity is apparent when the public sector benefits from efficiency gains made by the private sector (as in the purchase of better drugs). One proposal made was that only a discerni ...
New Labour, the `Third Way` and the Sector Skills Agreement
... practice of the author over the past two and half years or so since 2005. The concept of the SSA was formulated at a time when at least nominally, the ‘New Labour’ Government was espousing the doctrines of ‘third way’ social democratic policies, and no more so was this championed by Anthony Giddens. ...
... practice of the author over the past two and half years or so since 2005. The concept of the SSA was formulated at a time when at least nominally, the ‘New Labour’ Government was espousing the doctrines of ‘third way’ social democratic policies, and no more so was this championed by Anthony Giddens. ...
Lecture Notes on Macroeconomic Principles
... o Conceptually, we want to include this $100 million in US GDP, since the income is earned by a US firm. o And, consistent with this idea, the $100 million in exports get added to US GDP. But suppose that you spend $100,000 on a new Porsche. o Conceptually, we would not want to include this $100 ...
... o Conceptually, we want to include this $100 million in US GDP, since the income is earned by a US firm. o And, consistent with this idea, the $100 million in exports get added to US GDP. But suppose that you spend $100,000 on a new Porsche. o Conceptually, we would not want to include this $100 ...
Chapter 16
... These goods are produced but not yet sold This entry can be positive or negative Negative inventory investment means less in inventory at year-end than at the beginning LO 16 - 2 McGraw-Hill/Irwin ...
... These goods are produced but not yet sold This entry can be positive or negative Negative inventory investment means less in inventory at year-end than at the beginning LO 16 - 2 McGraw-Hill/Irwin ...
Fiscal Spillovers and Monetary Policy Transmission in the Euro Area
... In the past many different strings have evolved in the literature concerning these policies. Fiscal analysis has until recently very often been empirical and dealt with the multiplier determination in a closed economy, starting with Blanchard, Perotti (2002). Work on fiscal spillover analysis in ope ...
... In the past many different strings have evolved in the literature concerning these policies. Fiscal analysis has until recently very often been empirical and dealt with the multiplier determination in a closed economy, starting with Blanchard, Perotti (2002). Work on fiscal spillover analysis in ope ...
On the Use of High-Frequency Economic Information to Anticipate
... components, we compute their 3-month averages in order to get quarterly series, and then we regress the quarterly GDP on its associated quarterly components. This will generate an equation to estimate the quarterly GDP as a function of quarterly indicators. Given that the principal components repres ...
... components, we compute their 3-month averages in order to get quarterly series, and then we regress the quarterly GDP on its associated quarterly components. This will generate an equation to estimate the quarterly GDP as a function of quarterly indicators. Given that the principal components repres ...
NBER WORKING PAPER SERIES BUSINESS CYCLES IN EMERGING ECONOMIES: Pablo A. Neumeyer
... cannot account for the magnitude of the fluctuations in economic activity observed at the onset and at the end of a stabilization plan. The quantitative exercise carried out in this paper suggests that fluctuations in country risk might provide the amplification mechanism needed to reconcile data an ...
... cannot account for the magnitude of the fluctuations in economic activity observed at the onset and at the end of a stabilization plan. The quantitative exercise carried out in this paper suggests that fluctuations in country risk might provide the amplification mechanism needed to reconcile data an ...
Modelling The Impact Of Automatic Fiscal Stabilisers On Output
... In his definition of the automatic stabilisation process, Martin (2002) emphasized on the smoothing impact that some fiscal variables have on business cycle fluctuations. The European Central Bank has extensively published on the role that AFS play in strengthening and enhancing confidence during bu ...
... In his definition of the automatic stabilisation process, Martin (2002) emphasized on the smoothing impact that some fiscal variables have on business cycle fluctuations. The European Central Bank has extensively published on the role that AFS play in strengthening and enhancing confidence during bu ...
6010 - Reference
... consititutional rules, that budgets should balance and that deficits were immoral. Until the early 1970s, the main - if not the only - argument to denounce fiscal policy concerned crowding out; that is, that the impact of an increase in government expenditures on total demand would be offset by lowe ...
... consititutional rules, that budgets should balance and that deficits were immoral. Until the early 1970s, the main - if not the only - argument to denounce fiscal policy concerned crowding out; that is, that the impact of an increase in government expenditures on total demand would be offset by lowe ...
6010 T : M
... consititutional rules, that budgets should balance and that deficits were immoral. Until the early 1970s, the main - if not the only - argument to denounce fiscal policy concerned crowding out; that is, that the impact of an increase in government expenditures on total demand would be offset by lowe ...
... consititutional rules, that budgets should balance and that deficits were immoral. Until the early 1970s, the main - if not the only - argument to denounce fiscal policy concerned crowding out; that is, that the impact of an increase in government expenditures on total demand would be offset by lowe ...
Why DSGE analysis cannot accurately model financial-real sector interaction
... information later on (the utility of “wait and see”), which explains why liquidity preference increases during times of heightened uncertainty. As such money also provides a means by which agents can enhance their market knowledge. In sum, agents attach utility to the medium of exchange because it f ...
... information later on (the utility of “wait and see”), which explains why liquidity preference increases during times of heightened uncertainty. As such money also provides a means by which agents can enhance their market knowledge. In sum, agents attach utility to the medium of exchange because it f ...