NBER WORKING PAPER SERIES ON THE ORIGINS OF "A MONETARY HISTORY"
... replaced Mitchell as director of the NBER, asked Friedman to take over.6 The choice of Friedman made sense. Friedman had successfully completed several projects at the Bureau. He had already, moreover, developed an interest in the problem of inflation while working at the Treasury in World War II, ...
... replaced Mitchell as director of the NBER, asked Friedman to take over.6 The choice of Friedman made sense. Friedman had successfully completed several projects at the Bureau. He had already, moreover, developed an interest in the problem of inflation while working at the Treasury in World War II, ...
Deficit Financing
... The receipts similarly comprise revenues on current account as well as capital account. Creation of new money to meet the deficit in use for a long time. ...
... The receipts similarly comprise revenues on current account as well as capital account. Creation of new money to meet the deficit in use for a long time. ...
IS-LM
... 1973–1974 oil price shock (though it did during the 1979–1980 shock) • It could be that people expected the 1973–1974 oil price shock to be permanent • In that case the real interest rate would not necessarily rise • If so, people’s expectations were correct, since the 1973–1974 shock seems to have ...
... 1973–1974 oil price shock (though it did during the 1979–1980 shock) • It could be that people expected the 1973–1974 oil price shock to be permanent • In that case the real interest rate would not necessarily rise • If so, people’s expectations were correct, since the 1973–1974 shock seems to have ...
A MACROECONOMETRIC MODEL FOR THE ECONOMY OF
... period from 1980 to 2000 using the Engle-Granger two-step cointegration technique, capturing both the long-run and short-run dynamic properties of the economy. ...
... period from 1980 to 2000 using the Engle-Granger two-step cointegration technique, capturing both the long-run and short-run dynamic properties of the economy. ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Reducing Inflation: Motivation and Strategy
... None of these studies takes into account the taxation of capital income and the interaction of inflation and tax rules. 9. Because depreciation is not adjusted for inflation, an increase in the rate of inflation favors investment in inventories and short-lived equipment. 10.The mixture of debt and e ...
... None of these studies takes into account the taxation of capital income and the interaction of inflation and tax rules. 9. Because depreciation is not adjusted for inflation, an increase in the rate of inflation favors investment in inventories and short-lived equipment. 10.The mixture of debt and e ...
Chapter 10
... face risk, such as the risk of becoming unemployed, and cannot borrow if they become unemployed, then the real interest rate is somewhat lower than in other RBC models without heterogeneous agents – The risk in such models also leads people to save more than they would if there were no such risk ...
... face risk, such as the risk of becoming unemployed, and cannot borrow if they become unemployed, then the real interest rate is somewhat lower than in other RBC models without heterogeneous agents – The risk in such models also leads people to save more than they would if there were no such risk ...
Inflation and economic growth in Rwanda
... relationship between inflation and growth to be either non-significant or positive. Based on the data from the 1950s and the 1960s, these findings were in line with the prevailing view that inflation was not an important issue. As pointed out by many authors (Sarel, 1996; Cuaresma and Silgoner, 2003 ...
... relationship between inflation and growth to be either non-significant or positive. Based on the data from the 1950s and the 1960s, these findings were in line with the prevailing view that inflation was not an important issue. As pointed out by many authors (Sarel, 1996; Cuaresma and Silgoner, 2003 ...
IB/AP Economics Unit 3.3 Macroeconomic Models
... • If a government spends money on a project such as new weapons or infrastructure, income is created for households and firms. • A proportion of this new income will be spent on new goods and services, creating yet more new income for households and firms. • The initial change in government spending ...
... • If a government spends money on a project such as new weapons or infrastructure, income is created for households and firms. • A proportion of this new income will be spent on new goods and services, creating yet more new income for households and firms. • The initial change in government spending ...
GettinG the Balance riGht: transitioninG out of sustained
... through policy actions such as exchange rate appreciation or macroeconomic stimulus. It subjects these historical episodes to statistical analysis and provides a narrative account of five specific transitions, examining economic performance and identifying key factors that explain various growth out ...
... through policy actions such as exchange rate appreciation or macroeconomic stimulus. It subjects these historical episodes to statistical analysis and provides a narrative account of five specific transitions, examining economic performance and identifying key factors that explain various growth out ...
Globalization and Inflation Dynamics
... finds evidence of a flatter curve and a higher sacrifice ratio in the samples that start in the 1990s relative to those estimated in the full sample. However, he also finds that in the more recent samples the unit sum restriction on the lag coefficients, which defines the accelerationist curve, is vio ...
... finds evidence of a flatter curve and a higher sacrifice ratio in the samples that start in the 1990s relative to those estimated in the full sample. However, he also finds that in the more recent samples the unit sum restriction on the lag coefficients, which defines the accelerationist curve, is vio ...
The Effect of Macroeconomic Variables on Market Risk
... This paper contains a short overview on the literature that has been identified as potentially interesting for being used in writing the thesis on the topic defined above. The choice of the macroeconomic variables was not sporadic. It was motivated by number of articles that have investigated the ma ...
... This paper contains a short overview on the literature that has been identified as potentially interesting for being used in writing the thesis on the topic defined above. The choice of the macroeconomic variables was not sporadic. It was motivated by number of articles that have investigated the ma ...
Chapter Ten - lhu.edu.tw
... Now if the price level can be adjusted as time goes by, the weak aggregate demand will force the price level to go down in the long run. This decline of the price level will shift the LM curve to the right. As long as the aggregate demand is still less than the full employment output, the price adju ...
... Now if the price level can be adjusted as time goes by, the weak aggregate demand will force the price level to go down in the long run. This decline of the price level will shift the LM curve to the right. As long as the aggregate demand is still less than the full employment output, the price adju ...
Understanding the Great Recession ! Lawrence J. Christiano Martin S. Eichenbaum
... reduction in consumption as a trigger for a zero lower bound (ZLB) episode (see Eggertsson and Woodford (2003), Eggertsson and Krugman (2012) and Guerrieri and Lorenzoni (2012)). The third shock in our analysis is a neutral technology shock that captures the observed decline, relative to trend, in ...
... reduction in consumption as a trigger for a zero lower bound (ZLB) episode (see Eggertsson and Woodford (2003), Eggertsson and Krugman (2012) and Guerrieri and Lorenzoni (2012)). The third shock in our analysis is a neutral technology shock that captures the observed decline, relative to trend, in ...
PDF
... It is worth stressing the intuition behind this simple result that inflation is negatively correlated with birth and death rates. By construction each agent has access to an investment technology, that is, each young agent has the option to start a firm that lasts either one or two periods. Over the ...
... It is worth stressing the intuition behind this simple result that inflation is negatively correlated with birth and death rates. By construction each agent has access to an investment technology, that is, each young agent has the option to start a firm that lasts either one or two periods. Over the ...
Nordic Outlook
... funds rate of 1.50-1.75 per cent by the end of 2018. Other central banks are close to the end of the road in terms of stimulus measures; we are not expecting any further rate cuts, although both the European Central Bank (ECB) and Sweden’s Riksbank are likely to extend their bond purchase programmes ...
... funds rate of 1.50-1.75 per cent by the end of 2018. Other central banks are close to the end of the road in terms of stimulus measures; we are not expecting any further rate cuts, although both the European Central Bank (ECB) and Sweden’s Riksbank are likely to extend their bond purchase programmes ...
Markets Overview
... the US jobs markets staying tight as it rose to 257k from prior week’s 248k, but still better than the forecast of 259k and that four-week moving average of claims was just 256k, a level last seen in December 1973. The US 1Q 2016 GDP growth unexpectedly eased to +0.5%q/q SAAR (lower than the Bloombe ...
... the US jobs markets staying tight as it rose to 257k from prior week’s 248k, but still better than the forecast of 259k and that four-week moving average of claims was just 256k, a level last seen in December 1973. The US 1Q 2016 GDP growth unexpectedly eased to +0.5%q/q SAAR (lower than the Bloombe ...
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.