From real business cycle and new Keynesian to DSGE
... and new Keynesian, on the other – were eventually synthesized into the DSGE macroeconomics. In such narratives, mainstream macroeconomists tend to hold loose methodological and philosophical ideas about facts falsifying theories, about paradigms being challenged, and school of thoughts winning bitte ...
... and new Keynesian, on the other – were eventually synthesized into the DSGE macroeconomics. In such narratives, mainstream macroeconomists tend to hold loose methodological and philosophical ideas about facts falsifying theories, about paradigms being challenged, and school of thoughts winning bitte ...
CHAPTER 7: Long-Run and Short
... The two features immediately clear when you examine the trend in productivity in the United States over the past fifty years are: a. An upward trend and fairly sizable fluctuations around that trend. b. An upward trend and relatively small fluctuations around that trend. c. A downward trend and fair ...
... The two features immediately clear when you examine the trend in productivity in the United States over the past fifty years are: a. An upward trend and fairly sizable fluctuations around that trend. b. An upward trend and relatively small fluctuations around that trend. c. A downward trend and fair ...
Sample
... 21) The proportion of the money supply that is held in the form of currency is ultimately determined by A) the Federal Reserve. B) the public. C) the U.S. Congress. D) commercial banks. Answer: B Diff: 2 Skill: Applied 22) The Federal Reserve satisfies the public's demand for currency by A) printing ...
... 21) The proportion of the money supply that is held in the form of currency is ultimately determined by A) the Federal Reserve. B) the public. C) the U.S. Congress. D) commercial banks. Answer: B Diff: 2 Skill: Applied 22) The Federal Reserve satisfies the public's demand for currency by A) printing ...
The role of labor markets for euro area monetary - ECB
... in hours worked which may affect inflation dynamics via their effect on firm’s marginal costs through changes in the marginal product of labor. The institutional features that we consider in this paper will affect inflation through one or a combination of these two channels. We find that a labor market cha ...
... in hours worked which may affect inflation dynamics via their effect on firm’s marginal costs through changes in the marginal product of labor. The institutional features that we consider in this paper will affect inflation through one or a combination of these two channels. We find that a labor market cha ...
Sample
... 21) The proportion of the money supply that is held in the form of currency is ultimately determined by A) the Federal Reserve. B) the public. C) the U.S. Congress. D) commercial banks. Answer: B Diff: 2 Skill: Applied 22) The Federal Reserve satisfies the public's demand for currency by A) printing ...
... 21) The proportion of the money supply that is held in the form of currency is ultimately determined by A) the Federal Reserve. B) the public. C) the U.S. Congress. D) commercial banks. Answer: B Diff: 2 Skill: Applied 22) The Federal Reserve satisfies the public's demand for currency by A) printing ...
Has durable goods spending become less sensitive to interest rates?
... that prevailed during typical recoveries in the past, declining real interest rates in the current recovery could have provided a stronger boost to durable goods spending. This spending, in turn, could have contributed more strongly to real GDP growth a few years into the recovery, when interest rat ...
... that prevailed during typical recoveries in the past, declining real interest rates in the current recovery could have provided a stronger boost to durable goods spending. This spending, in turn, could have contributed more strongly to real GDP growth a few years into the recovery, when interest rat ...
Course Outline Word Document | AS/A level
... and in extreme case render them unable to operate at all. Use of used cars (lemons) and private health insurance as examples. Common goods: Absence of property rights – where assets do not have clearly defined owners then a price cannot be established and they will be over-used. Tragedy of the Commo ...
... and in extreme case render them unable to operate at all. Use of used cars (lemons) and private health insurance as examples. Common goods: Absence of property rights – where assets do not have clearly defined owners then a price cannot be established and they will be over-used. Tragedy of the Commo ...
Updating the Discount Rate Used for Benefit-Cost Analysis
... method and the weighted average method. The Shadow Price of Capital. The general consensus among economists appears to be that using the Shadow Price of Capital (SPC) is the conceptually superior method of bridging the gap between the social rate of time preference and the opportunity cost of capita ...
... method and the weighted average method. The Shadow Price of Capital. The general consensus among economists appears to be that using the Shadow Price of Capital (SPC) is the conceptually superior method of bridging the gap between the social rate of time preference and the opportunity cost of capita ...
No Slide Title
... Individuals may choose to hold bonds over money: Because the market value of interest-bearing bonds is inversely related to the interest rate, investors may wish to hold bonds when the interest rates are high with the hope of selling them when interest rates fall. ...
... Individuals may choose to hold bonds over money: Because the market value of interest-bearing bonds is inversely related to the interest rate, investors may wish to hold bonds when the interest rates are high with the hope of selling them when interest rates fall. ...
Exchange rate valuation and its impact on the real economy
... The relationship between exchange rate movements and the real economy has been a key focus of macroeconomic policy discussions in New Zealand in recent years. There has been considerable debate about the causes of the appreciation of the real exchange rate and the extent to which it reflects either ...
... The relationship between exchange rate movements and the real economy has been a key focus of macroeconomic policy discussions in New Zealand in recent years. There has been considerable debate about the causes of the appreciation of the real exchange rate and the extent to which it reflects either ...
Asymmetric Fiscal Policy Shocks
... In this paper we empirically test the existence of non-linearities that may be associated with the conduct of fiscal policy. In doing so, we try to detect two types of fiscal policy asymmetries: first, whether equal in magnitude contractionary or expansionary fiscal shocks have the same multiplier i ...
... In this paper we empirically test the existence of non-linearities that may be associated with the conduct of fiscal policy. In doing so, we try to detect two types of fiscal policy asymmetries: first, whether equal in magnitude contractionary or expansionary fiscal shocks have the same multiplier i ...
An electricity-backed currency proposal
... form of belief and associated behaviors. Gold is primarily a volatile scarcity-based asset contributing only marginally to social progress. Many who favor gold-backed currencies are articulating a desire for a stable independent central bank issued currency with a fixed reserve ratio. In this guise, ...
... form of belief and associated behaviors. Gold is primarily a volatile scarcity-based asset contributing only marginally to social progress. Many who favor gold-backed currencies are articulating a desire for a stable independent central bank issued currency with a fixed reserve ratio. In this guise, ...
Chapter 22 - Samuel Moon Jung
... slopes down with respect to the inflation rate. Be sure to discuss two channels through which changes in inflation rates affect demand. Answer: A fall in the inflation rate lowers real interest rates. Lower rates increase investment, thereby increasing aggregate demand. Lower interest rates also cau ...
... slopes down with respect to the inflation rate. Be sure to discuss two channels through which changes in inflation rates affect demand. Answer: A fall in the inflation rate lowers real interest rates. Lower rates increase investment, thereby increasing aggregate demand. Lower interest rates also cau ...
Full text - HEC Lausanne
... compare results found mainly in large economies with those in a small open economy such as Switzerland. For this reason, we will try as systematically as possible to compare our results with those of the US as a benchmark. We will especially be able to determine whether the increasing degree of glob ...
... compare results found mainly in large economies with those in a small open economy such as Switzerland. For this reason, we will try as systematically as possible to compare our results with those of the US as a benchmark. We will especially be able to determine whether the increasing degree of glob ...
10.00 points - HCC Learning Web
... Which of the following correctly characterizes the shape of a constant opportunity cost production possibilities curve? A straight line indicating that the law of increasing opportunity costs applies. ...
... Which of the following correctly characterizes the shape of a constant opportunity cost production possibilities curve? A straight line indicating that the law of increasing opportunity costs applies. ...
On our own? The Icelandic business cycle in an international context
... various indicators or about what other measures are considered. The CEPR committee operates in a similar way. To make business cycle identification operational, it is useful to decompose the economic time series into three components: a trend component, a business cycle component and an irregular c ...
... various indicators or about what other measures are considered. The CEPR committee operates in a similar way. To make business cycle identification operational, it is useful to decompose the economic time series into three components: a trend component, a business cycle component and an irregular c ...
Has Policy Uncertainty Slowed the Recovery?
... Notes: Index of Policy-Related Economic Uncertainty composed of quarterly news articles containing uncertain or uncertainty, economic or economy, and policy relevant terms (scaled by the smoothed total number of articles) in 5 newspapers (WP, BG, LAT, WSJ and CHT). Data normalized to 100 from Jan 19 ...
... Notes: Index of Policy-Related Economic Uncertainty composed of quarterly news articles containing uncertain or uncertainty, economic or economy, and policy relevant terms (scaled by the smoothed total number of articles) in 5 newspapers (WP, BG, LAT, WSJ and CHT). Data normalized to 100 from Jan 19 ...
1. assessing the stance of irish fiscal policy
... continuing the process of tax reform, the budget is an opportunity to set fiscal policy to steer the economy to a non-inflationary, sustainable growth path. Membership of Economic and Monetary Union (EMU) limits the range of macroeconomic tools available for economic demand management in Ireland to ...
... continuing the process of tax reform, the budget is an opportunity to set fiscal policy to steer the economy to a non-inflationary, sustainable growth path. Membership of Economic and Monetary Union (EMU) limits the range of macroeconomic tools available for economic demand management in Ireland to ...
Document
... The president of the New York Federal Reserve Bank, and four other presidents of Federal Reserve Banks, who serve on the committee on a rotating basis. ...
... The president of the New York Federal Reserve Bank, and four other presidents of Federal Reserve Banks, who serve on the committee on a rotating basis. ...
Mankiw 5/e Chapter 10: Aggregate Demand I
... – output determined by factors of production & technology – unemployment equals its natural rate Short run – prices fixed – output determined by aggregate demand – unemployment is negatively related to output CHAPTER 10 ...
... – output determined by factors of production & technology – unemployment equals its natural rate Short run – prices fixed – output determined by aggregate demand – unemployment is negatively related to output CHAPTER 10 ...
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.