Fiscal calculus in a New Keynesian model with matching
... significantly larger than one, several other authors have revised such estimates offering less favorable scenarios (see Cogan, Cwik, Taylor and Wieland (5), Cwik and Wieland (7), Uhlig (21) among others). Christiano, Eichenbaum and Rebelo (4) argue that fiscal multipliers might be larger than one wh ...
... significantly larger than one, several other authors have revised such estimates offering less favorable scenarios (see Cogan, Cwik, Taylor and Wieland (5), Cwik and Wieland (7), Uhlig (21) among others). Christiano, Eichenbaum and Rebelo (4) argue that fiscal multipliers might be larger than one wh ...
- TestbankU
... 6. Government purchases of goods and services: spending by the government on goods or services a. About 1/5 of U.S. GDP b. Most by state and local governments, not federal government c. Not all government expenditures are purchases of goods and services (1) Some are payments that are not made in exc ...
... 6. Government purchases of goods and services: spending by the government on goods or services a. About 1/5 of U.S. GDP b. Most by state and local governments, not federal government c. Not all government expenditures are purchases of goods and services (1) Some are payments that are not made in exc ...
Environmental Sustainability and Poverty Eradication in Developing
... industrial activities, infrastructure, health services, education and skills necessary for long-term economic development. However, designing and implementing policies for more efficient and sustainable resource-based development is necessary but not sufficient. In addition, specific policies need t ...
... industrial activities, infrastructure, health services, education and skills necessary for long-term economic development. However, designing and implementing policies for more efficient and sustainable resource-based development is necessary but not sufficient. In addition, specific policies need t ...
From unconventional monetary to unconventional fiscal policies
... transmission mechanism of monetary policy. Even though monetary policy can have positive effects, it is not possible to use this policy systematically to take advantage of these effects. A new impetus for using monetary policy as a stabilizing mechanism occurred when research showed that policy can ...
... transmission mechanism of monetary policy. Even though monetary policy can have positive effects, it is not possible to use this policy systematically to take advantage of these effects. A new impetus for using monetary policy as a stabilizing mechanism occurred when research showed that policy can ...
Shocks - College of Business
... 4. Time Bunching—the tendency of economic activities to be coordinated at common points in time. It pays to coordinate your economic activities with those of others. Bunching also causes shocks to spread through the economy through time. • Example: Suppose a negative economic shock arrives and t ...
... 4. Time Bunching—the tendency of economic activities to be coordinated at common points in time. It pays to coordinate your economic activities with those of others. Bunching also causes shocks to spread through the economy through time. • Example: Suppose a negative economic shock arrives and t ...
The Economy of Burma/ Myanmar on the Eve of the 2010 Elections
... In 1990, Burma’s National League for Democracy (NLD), the political party led by Aung San Suu Kyi, won an overwhelming electoral victory, but the country’s military rulers decided to repudiate the results. Burma’s political landscape was frozen in a stalemate for eighteen years after that. Four rece ...
... In 1990, Burma’s National League for Democracy (NLD), the political party led by Aung San Suu Kyi, won an overwhelming electoral victory, but the country’s military rulers decided to repudiate the results. Burma’s political landscape was frozen in a stalemate for eighteen years after that. Four rece ...
Chapter 12 Aggregate Supply, Aggregate Demand
... If you read the financial pages in any newspaper (or sometimes the front pages if economic issues are pressing), you will see discussion about government budgets and deficits, interest rate changes, and how these affect unemployment and inflation. You may also see news about changes in the availabil ...
... If you read the financial pages in any newspaper (or sometimes the front pages if economic issues are pressing), you will see discussion about government budgets and deficits, interest rate changes, and how these affect unemployment and inflation. You may also see news about changes in the availabil ...
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... processes may increase consumption if they are guaranteed the absence of these elements. We call this the “consumption effect”. We also include an “externality effect” of standards, which we denote by γ(c). The externality may be positive or negative (Anderson et al. 2004), and is increasing in cons ...
... processes may increase consumption if they are guaranteed the absence of these elements. We call this the “consumption effect”. We also include an “externality effect” of standards, which we denote by γ(c). The externality may be positive or negative (Anderson et al. 2004), and is increasing in cons ...
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... The Bureau of Economic Analysis makes data available on output, inputs, compensation, and prices for approximately 80 one-digit and two-digit industries. For unexplained reasons, BEA does not, however, provide productivity statistics that correspond to its income-side input and output data. The pres ...
... The Bureau of Economic Analysis makes data available on output, inputs, compensation, and prices for approximately 80 one-digit and two-digit industries. For unexplained reasons, BEA does not, however, provide productivity statistics that correspond to its income-side input and output data. The pres ...
Productivity Performance and
... The current productivity gap between the UK and its main competitors is significant. Using figures for labour productivity given by output per worker, the UK is 36 per cent behind the USA, 25 per cent behind France and 15 per cent behind Germany. In many, but not all, of the key elements that are co ...
... The current productivity gap between the UK and its main competitors is significant. Using figures for labour productivity given by output per worker, the UK is 36 per cent behind the USA, 25 per cent behind France and 15 per cent behind Germany. In many, but not all, of the key elements that are co ...
Housing in US Fordism - Creative Class Group
... sell off loans and recycle capital, allowing them to switch over to long-term mortgages and still remain liquid. Secondary market purchases increased from around $1 million per year in the late 1930s to nearly $1 billion by the 1950s. This inchoate mortgage finance system functioned within the broad ...
... sell off loans and recycle capital, allowing them to switch over to long-term mortgages and still remain liquid. Secondary market purchases increased from around $1 million per year in the late 1930s to nearly $1 billion by the 1950s. This inchoate mortgage finance system functioned within the broad ...
here
... point is that the beneficial dynamic from a skewed distribution of the static gains from offshoring can be undermined if profit reinvestment does not follow the cost-saving trade. The structural changes taking place in certain regional subcategories of the services trade balance are, despite the hig ...
... point is that the beneficial dynamic from a skewed distribution of the static gains from offshoring can be undermined if profit reinvestment does not follow the cost-saving trade. The structural changes taking place in certain regional subcategories of the services trade balance are, despite the hig ...
Chapter 4: The Theory of Economic Growth
... today are at least seven times what they were at the end of the nineteenth century (and ...
... today are at least seven times what they were at the end of the nineteenth century (and ...
The unemployment rate is the number of people
... loss or gain in jobs are also important indicators of progress in the economy. The failure of the economy to produce as many jobs as we have experienced in the past has been of particular interest and concern. The failure of employment to increase at the same rate as population growth ultimately mea ...
... loss or gain in jobs are also important indicators of progress in the economy. The failure of the economy to produce as many jobs as we have experienced in the past has been of particular interest and concern. The failure of employment to increase at the same rate as population growth ultimately mea ...
Greece in Recession: Economic predictions, mispredictions and policy implications
... expected either; and admits that the economy encountered a much-deeperthan expected recession. Pisani-Ferry et al. (2013) spell out a good number of policy mistakes and inconsistencies taking place in Greece and the EU. In addition, they point out that though it is not unusual for IMF programs to di ...
... expected either; and admits that the economy encountered a much-deeperthan expected recession. Pisani-Ferry et al. (2013) spell out a good number of policy mistakes and inconsistencies taking place in Greece and the EU. In addition, they point out that though it is not unusual for IMF programs to di ...
Real GDP
... • The spending by households on goods and services, with the exception of purchases of new housing. This includes education. ...
... • The spending by households on goods and services, with the exception of purchases of new housing. This includes education. ...
Peace, Prosperity and Pro
... and smugglers develop substantial business interests during the war. y This not only makes the achievement of peace in many cases difficult (as these participants profit more from war than peace) but will also have a significant impact on the post-conflict economic success. y ...
... and smugglers develop substantial business interests during the war. y This not only makes the achievement of peace in many cases difficult (as these participants profit more from war than peace) but will also have a significant impact on the post-conflict economic success. y ...
UK BUSINESS CONFIDENCE MONITOR Q1 2009 East Midlands Summary Report
... for Surviving the Downturn’ a guide to help businesses plan survival strategies and activities which could help them in facing the current economic challenges. It provides businesses with practical help and topics to discuss within their management teams as well as with their advisors. The findings ...
... for Surviving the Downturn’ a guide to help businesses plan survival strategies and activities which could help them in facing the current economic challenges. It provides businesses with practical help and topics to discuss within their management teams as well as with their advisors. The findings ...
China in the World Economy: The Domestic Policy
... specific steps, in order to maximise the benefits of China’s opening and other reform efforts. These analyses highlight the interdependence, and increasing need for co-ordination of policies in different areas. Messages The studies document the impressive progress China has made in transforming its ...
... specific steps, in order to maximise the benefits of China’s opening and other reform efforts. These analyses highlight the interdependence, and increasing need for co-ordination of policies in different areas. Messages The studies document the impressive progress China has made in transforming its ...
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... Finally, and potentially most significantly, the speed of the transition has meant that institutions, in the sense of the new institutional economics, and particularly informal institutions, are poorly developed. Thus, the set self-imposed consensual restraints which mediate economic behaviour in th ...
... Finally, and potentially most significantly, the speed of the transition has meant that institutions, in the sense of the new institutional economics, and particularly informal institutions, are poorly developed. Thus, the set self-imposed consensual restraints which mediate economic behaviour in th ...
Measuring the Benefits of Tourism
... of additional natural resources must be taken from the change in the value of the increased economic activity, as measured by the change in GNP or National Income. However, the measure derived is a partial one only. We must allow for externalities of tourism and all other industries if an accurate m ...
... of additional natural resources must be taken from the change in the value of the increased economic activity, as measured by the change in GNP or National Income. However, the measure derived is a partial one only. We must allow for externalities of tourism and all other industries if an accurate m ...