Booms and Banking Crises
... in the interbank market. We show that there is a threshold value of interest rates below which the interbank market freezes, corporate credit collapses and the economy tanks. This threshold can be alternatively expressed in terms of the level of banking assets relative to the level of productivity ( ...
... in the interbank market. We show that there is a threshold value of interest rates below which the interbank market freezes, corporate credit collapses and the economy tanks. This threshold can be alternatively expressed in terms of the level of banking assets relative to the level of productivity ( ...
ch_7
... Government expenditures – government payments for goods and services or investment in equipment and structures. ...
... Government expenditures – government payments for goods and services or investment in equipment and structures. ...
Happy Generations, Depressed Generations
... This paper attempts to unravel the generation difference of Chinese people using a novel model-based approach with longitudinal survey data. Any arbitrary efforts on defining generation often neglects the fact that generation is confounded with age. When some researches try to summarize the feature ...
... This paper attempts to unravel the generation difference of Chinese people using a novel model-based approach with longitudinal survey data. Any arbitrary efforts on defining generation often neglects the fact that generation is confounded with age. When some researches try to summarize the feature ...
Exercises for Chapter 23
... U.S. government purchases increase by $30,000 and U.S. net exports decrease by $30,000. U.S. GNP increases by $30,000, but U.S. GDP is unaffected. 12. Which of the following statements about GDP is most accurate? a. Nominal GDP values production at current prices, while real GDP values production at ...
... U.S. government purchases increase by $30,000 and U.S. net exports decrease by $30,000. U.S. GNP increases by $30,000, but U.S. GDP is unaffected. 12. Which of the following statements about GDP is most accurate? a. Nominal GDP values production at current prices, while real GDP values production at ...
this paper
... Several studies have explored the role of variations in monopoly power in giving rise to endogenous cycles. Peck and Shell (1991) prove the existence of sunspot equilibria in a pure exchangeeconomy in which agents have market power in both commodity and security markets. In Gali (1994), variations ...
... Several studies have explored the role of variations in monopoly power in giving rise to endogenous cycles. Peck and Shell (1991) prove the existence of sunspot equilibria in a pure exchangeeconomy in which agents have market power in both commodity and security markets. In Gali (1994), variations ...
COM SEC(2010)
... of 2009 brought a coalition government into power on a reform agenda that seeks closer approximation to the EU and aims at turning around the previous growth model that was relied heavily on the inflow of remittances. These political developments have allowed a speeding up of the scaling up of bilat ...
... of 2009 brought a coalition government into power on a reform agenda that seeks closer approximation to the EU and aims at turning around the previous growth model that was relied heavily on the inflow of remittances. These political developments have allowed a speeding up of the scaling up of bilat ...
Is it a Recessionary Gap or a fall in Potential Output?
... time, inflation rose dramatically, from 3 percent in 1973 to nearly 12 percent in 1975. What is the appropriate policy response in this sort of situation? It depends! The immediate cause of the episode was a tripling of the price of oil, from $3.56 to $11.16 a barrel. That’s a huge inflation shock. ...
... time, inflation rose dramatically, from 3 percent in 1973 to nearly 12 percent in 1975. What is the appropriate policy response in this sort of situation? It depends! The immediate cause of the episode was a tripling of the price of oil, from $3.56 to $11.16 a barrel. That’s a huge inflation shock. ...
ch15, lecture
... GDP is the most widely used measure of a nation’s economic performance. GDP is the market value of all final goods produced in the U.S. during a period of time regardless of who owns the factors of production. ...
... GDP is the most widely used measure of a nation’s economic performance. GDP is the market value of all final goods produced in the U.S. during a period of time regardless of who owns the factors of production. ...
The National Informal Economy Policy 2011-2015
... The policy nominates two 'arms' for action to achieve these goals. The first is financial inclusion, or giving people access to formal financial services. Only 8 per cent of its people are 'financially included' at present, making PNG one of the worst performing countries in this important indicator ...
... The policy nominates two 'arms' for action to achieve these goals. The first is financial inclusion, or giving people access to formal financial services. Only 8 per cent of its people are 'financially included' at present, making PNG one of the worst performing countries in this important indicator ...
Exam Name___________________________________ 1) In
... 23) Statistics Canada excludes from GDP the value of goods and services exchanged ʺunder the counterʺ because A) satisfactory methods for their measurement have not been developed. B) these goods are all intermediate goods. C) their production has zero opportunity cost. D) Statistics Canada is respo ...
... 23) Statistics Canada excludes from GDP the value of goods and services exchanged ʺunder the counterʺ because A) satisfactory methods for their measurement have not been developed. B) these goods are all intermediate goods. C) their production has zero opportunity cost. D) Statistics Canada is respo ...
Chapter 7 Gross Domestic Product and Measurements of Output
... 5. Ways to Measure GDP a. Sectoral/Final Good/Expenditure Approach – breaks GDP down into sectors and then adds up the total purchases in each sector Sectors: Consumption – Done by HH. This includes durable goods, nondurable goods, and services. Investment – This is spending done by firms on K. Reca ...
... 5. Ways to Measure GDP a. Sectoral/Final Good/Expenditure Approach – breaks GDP down into sectors and then adds up the total purchases in each sector Sectors: Consumption – Done by HH. This includes durable goods, nondurable goods, and services. Investment – This is spending done by firms on K. Reca ...
The Nordic model of economic development: shocks
... its key features affected by country-specific shocks and reforms? The research question of this study lies at the intersection between the fields of political economy and institutional economics. In order to provide a conceptual framework for the different shocks and trends at hand, the paper starts ...
... its key features affected by country-specific shocks and reforms? The research question of this study lies at the intersection between the fields of political economy and institutional economics. In order to provide a conceptual framework for the different shocks and trends at hand, the paper starts ...
Division of Labor and Economic Growth: from Adam Smith to Paul
... opening of trade for foreign manufactures, could …nd a latent, potential demand on the part of the surplus disposers6 , who were ready to spend their surplus in those goods, renouncing to some of their servants. Since, as noted, this type of demand was almost unbounded, landlords had an incentive to ...
... opening of trade for foreign manufactures, could …nd a latent, potential demand on the part of the surplus disposers6 , who were ready to spend their surplus in those goods, renouncing to some of their servants. Since, as noted, this type of demand was almost unbounded, landlords had an incentive to ...
New Macroeconomics and Credibility Analysis
... it is arguably the case that pinpointing the costs and benefits of unexpected inflation in terms of an aggregate intertemporal model of a unique average representative agent is a less arbitrary procedure than postulating an ad hoc macro welfare function. Also, it is widely acknowledged among macroec ...
... it is arguably the case that pinpointing the costs and benefits of unexpected inflation in terms of an aggregate intertemporal model of a unique average representative agent is a less arbitrary procedure than postulating an ad hoc macro welfare function. Also, it is widely acknowledged among macroec ...
Advanced Placement Macroeconomics Study Notes
... reaches its cyclical peaks in the middle of a recession. It also tends to decline at the beginning of an expansion as firms meet their sales demand from excess inventories. 4. Consumer installment credit outstanding to personal income: This measures the relationship between consumer debt and income. ...
... reaches its cyclical peaks in the middle of a recession. It also tends to decline at the beginning of an expansion as firms meet their sales demand from excess inventories. 4. Consumer installment credit outstanding to personal income: This measures the relationship between consumer debt and income. ...
Advanced Placement Macroeconomics Study Notes 17th edition of
... reaches its cyclical peaks in the middle of a recession. It also tends to decline at the beginning of an expansion as firms meet their sales demand from excess inventories. 4. Consumer installment credit outstanding to personal income: This measures the relationship between consumer debt and income. ...
... reaches its cyclical peaks in the middle of a recession. It also tends to decline at the beginning of an expansion as firms meet their sales demand from excess inventories. 4. Consumer installment credit outstanding to personal income: This measures the relationship between consumer debt and income. ...
NBER WORKING PAPER SERIES ESTIMATED MACROECONOMIC EFFECTS OF DEFICIT TARGETING
... The model of firm behavior is somewhat more involved. The theory will not be discussed in detail here. The main estimated equations have the following features. Prices and wages affect each other and are affected by demand conditions. In addition, the price of imports has an important effect on dome ...
... The model of firm behavior is somewhat more involved. The theory will not be discussed in detail here. The main estimated equations have the following features. Prices and wages affect each other and are affected by demand conditions. In addition, the price of imports has an important effect on dome ...
Lessons from Experience with Ex-ante Poverty Impact Assessments
... considering the economy as a whole. • These models can take into account the direct and indirect effects of a policy reform. • It is used as an analytical and simulation instrument, and integrates the data of all aggregate sectors of the economy (production, labor market, external indebtness and its ...
... considering the economy as a whole. • These models can take into account the direct and indirect effects of a policy reform. • It is used as an analytical and simulation instrument, and integrates the data of all aggregate sectors of the economy (production, labor market, external indebtness and its ...