International Spillovers of Large
... (LSAPs; also known as quantitative easing or QE), at the zero lower bound. Several studies have found significant effects of these asset purchases in terms of lowering U.S. long-term yields and strengthening economic activity (see Baumeister and Benati, 2013; D’amico et al., 2012; Gagnon et al., 201 ...
... (LSAPs; also known as quantitative easing or QE), at the zero lower bound. Several studies have found significant effects of these asset purchases in terms of lowering U.S. long-term yields and strengthening economic activity (see Baumeister and Benati, 2013; D’amico et al., 2012; Gagnon et al., 201 ...
Asia Economic Policy Conference - Federal Reserve Bank of San
... Indeed, in some views, central bank success in stabilizing inflation and decreasing the volatility of business cycle fluctuations in the two decades before the crisis, popularly known as the Great Moderation, made policymakers complacent about the risks from financial disruptions. Lars Svensson from ...
... Indeed, in some views, central bank success in stabilizing inflation and decreasing the volatility of business cycle fluctuations in the two decades before the crisis, popularly known as the Great Moderation, made policymakers complacent about the risks from financial disruptions. Lars Svensson from ...
An Empirical Analysis on Excessive Reserves in U.S Banking
... now be disturbed by this contraction of lending. As a consequence, they need to fund their debts using other methods instead of using loans from Bank A. However, they will face the same impasse as Bank A does. As it is virtually impossible for them to raise this money elsewhere, they have to withdra ...
... now be disturbed by this contraction of lending. As a consequence, they need to fund their debts using other methods instead of using loans from Bank A. However, they will face the same impasse as Bank A does. As it is virtually impossible for them to raise this money elsewhere, they have to withdra ...
Global Economic Prospects
... Rapidly diminishing foreign reserves and fiscal buffers have already forced many commodity exporting EMDEs to tighten policy. In commodity importing EMDEs, event though low commodity prices have reduced fiscal and external vulnerabilities as well as inflation, the scope for expansionary fiscal polic ...
... Rapidly diminishing foreign reserves and fiscal buffers have already forced many commodity exporting EMDEs to tighten policy. In commodity importing EMDEs, event though low commodity prices have reduced fiscal and external vulnerabilities as well as inflation, the scope for expansionary fiscal polic ...
Chapter 24: Aggregate Demand, Aggregate Supply, and Inflation
... The Aggregate Supply Curve: A Warning • When we draw a firm’s supply curve, we assume that input prices are constant. In macroeconomics, an increase in the overall price level means that at least some input prices will be rising as well. • The outputs of some firms are the inputs of other firms. ...
... The Aggregate Supply Curve: A Warning • When we draw a firm’s supply curve, we assume that input prices are constant. In macroeconomics, an increase in the overall price level means that at least some input prices will be rising as well. • The outputs of some firms are the inputs of other firms. ...
CHAP1.WP (Word5)
... develop theoretical models that will determine the speed at which the economy adjusts to its long-run equilibrium output level. This topic is introduced in Sections 8-7and 8-8 and more fully developed in Chapter 9. Section 8-8 includes a discussion of the quantity theory of money and the “self-corre ...
... develop theoretical models that will determine the speed at which the economy adjusts to its long-run equilibrium output level. This topic is introduced in Sections 8-7and 8-8 and more fully developed in Chapter 9. Section 8-8 includes a discussion of the quantity theory of money and the “self-corre ...
Macroeconomics
... papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Cambridge and the University of York in the United Kingdom. His current research interests are monetary and fiscal policy rules, and the relationship between economic growth and structural chan ...
... papers. He completed his PhD at McGill University, and has held visiting appointments at the University of Cambridge and the University of York in the United Kingdom. His current research interests are monetary and fiscal policy rules, and the relationship between economic growth and structural chan ...
macroeconomics
... Doug Curtis is a specialist in macroeconomics. He is the author of twenty research papers on fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He complet ...
... Doug Curtis is a specialist in macroeconomics. He is the author of twenty research papers on fiscal policy, monetary policy, and economic growth and structural change. He has also prepared research reports for Canadian industry and government agencies and authored numerous working papers. He complet ...
People`s Republic of China: 2015 IV Consultation
... economy status. However, as evidenced by international experience and the literature on the middle income trap, convergence is by no means guaranteed. China’s future success, like its past accomplishments, will depend on continued implementation of necessary yet often difficult macro policies and re ...
... economy status. However, as evidenced by international experience and the literature on the middle income trap, convergence is by no means guaranteed. China’s future success, like its past accomplishments, will depend on continued implementation of necessary yet often difficult macro policies and re ...
Uncertainty Shocks and Equity Return Jumps and Volatility during
... recorded economic history. Those that lived through the Depression however,1 experienced unprecedented uncertainty shocks, including a major banking and financial crisis, uncertainty monetary policies, an uncertain international monetary system based on the gold standard, and major government policy ...
... recorded economic history. Those that lived through the Depression however,1 experienced unprecedented uncertainty shocks, including a major banking and financial crisis, uncertainty monetary policies, an uncertain international monetary system based on the gold standard, and major government policy ...
Demand Management Policy - Queen's Economics Department | …
... policy has led to an increase in government debt because: Early activists favored large increases in government spending as well as favoring the government's using fiscal policy. Politically, it is much easier for government to increase spending and decrease taxes than vice versa. ...
... policy has led to an increase in government debt because: Early activists favored large increases in government spending as well as favoring the government's using fiscal policy. Politically, it is much easier for government to increase spending and decrease taxes than vice versa. ...
2015-IV
... sum of deposit limits allocated to banks and gold and foreign exchange assets held at the CBRT under the ROM reached a level that more than meets banks’ external debt payments in the upcoming year. Moreover, the CBRT announced that due to the increased volatility in global financial markets, as of 1 ...
... sum of deposit limits allocated to banks and gold and foreign exchange assets held at the CBRT under the ROM reached a level that more than meets banks’ external debt payments in the upcoming year. Moreover, the CBRT announced that due to the increased volatility in global financial markets, as of 1 ...
UK inflation in the 1970s and 1980s: the role of
... expansionary; it aimed for low inflation, and did not try deliberately to push output above potential. Rather, the problem was that official measures of the output gap were only belatedly revised in response to the slowing in US productivity growth that began in the late 1960s.(2) Consequently, ‘re ...
... expansionary; it aimed for low inflation, and did not try deliberately to push output above potential. Rather, the problem was that official measures of the output gap were only belatedly revised in response to the slowing in US productivity growth that began in the late 1960s.(2) Consequently, ‘re ...
What`s so Great about the Great Moderation?
... Moderation—and in most cases the difference is substantial. This period has been labeled the Postwar Moderation. 4 Our evidence suggests that the Postwar Moderation is not merely a return to normal pre-World War II volatilities, but the beginning of a period in which volatilities are persistently lo ...
... Moderation—and in most cases the difference is substantial. This period has been labeled the Postwar Moderation. 4 Our evidence suggests that the Postwar Moderation is not merely a return to normal pre-World War II volatilities, but the beginning of a period in which volatilities are persistently lo ...
NBER WORKING PAPER SERIES REAL EXCHANGE RATES AND PRODUCTIVITY GROWTH IN THE
... deviations between any exchange rate and its PPP value. Several of these studies, including Balassa (19614, 1973), De Vries (1968), Clague and Tanzi (1972), and Officer (1976b), have reported empirical tests of' this phenomenon, ...
... deviations between any exchange rate and its PPP value. Several of these studies, including Balassa (19614, 1973), De Vries (1968), Clague and Tanzi (1972), and Officer (1976b), have reported empirical tests of' this phenomenon, ...
Money and generalized exchange: A critical look at Neo
... accounts (both ‘historical’ and logical accounts) of the existence of money and its evolution. According to these outside money always comes into existence prior to inside money. Moreover inside money appears as a consequence and logical result of outside money. ...
... accounts (both ‘historical’ and logical accounts) of the existence of money and its evolution. According to these outside money always comes into existence prior to inside money. Moreover inside money appears as a consequence and logical result of outside money. ...
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.Further goals of a monetary policy are usually to contribute to economic growth and stability, to lower unemployment, and to maintain predictable exchange rates with other currencies.Monetary economics provides insight into how to craft optimal monetary policy.Monetary policy is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.Monetary policy differs from fiscal policy, which refers to taxation, government spending, and associated borrowing.