Bade_Parkin_Macro_Lecture_CH14
... Other things remaining the same, a rise in the foreign exchange rate usually decreases aggregate demand (since our goods become more expensive abroad). Similarly, a fall in foreign income decreases U.S. exports and decreases U.S. aggregate demand. ...
... Other things remaining the same, a rise in the foreign exchange rate usually decreases aggregate demand (since our goods become more expensive abroad). Similarly, a fall in foreign income decreases U.S. exports and decreases U.S. aggregate demand. ...
Rethinking Reforms -How Latin America and the Caribbean Can
... lobal growth projections have waned since last year and growth may be suppressed below potential for several years to come. Compared to the favorable winds before the Great Recession of 2008–09, headwinds from the four main world economic blocs may lower growth in Latin America and the Caribbean in ...
... lobal growth projections have waned since last year and growth may be suppressed below potential for several years to come. Compared to the favorable winds before the Great Recession of 2008–09, headwinds from the four main world economic blocs may lower growth in Latin America and the Caribbean in ...
When is the Government Spending Multiplier Large?
... larger when the zero bound is binding. Allowing for capital accumulation has two e!ects. First, for a given size shock it reduces the likelihood that the zero bound becomes binding. Second, when the zero bound binds, the presence of capital accumulation tends to increase the size of the government s ...
... larger when the zero bound is binding. Allowing for capital accumulation has two e!ects. First, for a given size shock it reduces the likelihood that the zero bound becomes binding. Second, when the zero bound binds, the presence of capital accumulation tends to increase the size of the government s ...
Chapter 14
... the same. Other things remaining the same, • When the price level rises, the quantity of real GDP demanded decreases. • When the price level falls, the quantity of real GDP demanded increases. ...
... the same. Other things remaining the same, • When the price level rises, the quantity of real GDP demanded decreases. • When the price level falls, the quantity of real GDP demanded increases. ...
Vlandas , Tim. 'The impact of the elderly on inflation rates in developed countries' LEQS Paper No. 107, March 2016
... Two main approaches in comparative political economy have sought to explain inflation rates in developed economies - both ignoring electoral politics. The first approach has focused on the role of ideas. In this approach, a new dominant economic narrative, new classical economics9 - and within it mo ...
... Two main approaches in comparative political economy have sought to explain inflation rates in developed economies - both ignoring electoral politics. The first approach has focused on the role of ideas. In this approach, a new dominant economic narrative, new classical economics9 - and within it mo ...
time lags
... optimism on the part of households and firms or through very aggressive behavior on the part of the Fed, but because neither of these situations is very plausible, the multiplier is likely to be greater than zero. Thus, it is likely that to lower the deficit by a certain amount, the cut in governmen ...
... optimism on the part of households and firms or through very aggressive behavior on the part of the Fed, but because neither of these situations is very plausible, the multiplier is likely to be greater than zero. Thus, it is likely that to lower the deficit by a certain amount, the cut in governmen ...
BEN BERNANKE VERSUS MILTON FRIEDMAN: The Federal
... history of the United States; they were also the largest in the history of the world. Bernanke’s and Friedman’s differences center on why those panics generated economic catastrophe. For Friedman and Schwartz, the causal mechanism was the resulting changes in the money stock and therefore in the equ ...
... history of the United States; they were also the largest in the history of the world. Bernanke’s and Friedman’s differences center on why those panics generated economic catastrophe. For Friedman and Schwartz, the causal mechanism was the resulting changes in the money stock and therefore in the equ ...
Melbourne Institute: Home
... The Full Employment Project has been established at the University of Melbourne by the Melbourne Institute of Applied Economic and Social Research and the Institute of Public Affairs to develop public support for the restoration of full employment in Australia. Enquiries about the Working Papers and ...
... The Full Employment Project has been established at the University of Melbourne by the Melbourne Institute of Applied Economic and Social Research and the Institute of Public Affairs to develop public support for the restoration of full employment in Australia. Enquiries about the Working Papers and ...
Optimum Currency Area Theory and EMU
... Figure 4:1 Labour Mobility in Europe and the USA ............................................................... 30 Figure 4:1b Labour Mobility Criterion: US vs. the EMU ....................................................... 30 Figure 4:2 Impact of Crisis on Distribution of Mobile Workers ......... ...
... Figure 4:1 Labour Mobility in Europe and the USA ............................................................... 30 Figure 4:1b Labour Mobility Criterion: US vs. the EMU ....................................................... 30 Figure 4:2 Impact of Crisis on Distribution of Mobile Workers ......... ...
Ch10 11e Lecture Presentation
... Because government expenditure on goods and services is one component of aggregate demand, an increase in government expenditure increases aggregate demand. The Fed’s attempt to influence the economy by changing the interest rate and adjusting the quantity of money is called monetary policy. An incr ...
... Because government expenditure on goods and services is one component of aggregate demand, an increase in government expenditure increases aggregate demand. The Fed’s attempt to influence the economy by changing the interest rate and adjusting the quantity of money is called monetary policy. An incr ...
Long-Run and Short-Run Concerns: Growth, Productivity
... • Part of the reason for the upward trend in productivity is an increase in the amount of capital per worker. With more capital per worker, more output can be produced per year. • The other reason productivity has increased is that the quality of labor and capital has been increasing. ...
... • Part of the reason for the upward trend in productivity is an increase in the amount of capital per worker. With more capital per worker, more output can be produced per year. • The other reason productivity has increased is that the quality of labor and capital has been increasing. ...
Long-Run and Short-Run Concerns: Growth, Productivity
... • Part of the reason for the upward trend in productivity is an increase in the amount of capital per worker. With more capital per worker, more output can be produced per year. • The other reason productivity has increased is that the quality of labor and capital has been increasing. ...
... • Part of the reason for the upward trend in productivity is an increase in the amount of capital per worker. With more capital per worker, more output can be produced per year. • The other reason productivity has increased is that the quality of labor and capital has been increasing. ...
NBER WORKING PAPER SERIES
... government deficit is not a well—defined concept from the perspective of neoclassical macro economics. From the neoclassical perspective the deficit is an arbitrary accounting construct whose value depends on how the government chooses to label its receipts and payments. This paper demonstrates the ...
... government deficit is not a well—defined concept from the perspective of neoclassical macro economics. From the neoclassical perspective the deficit is an arbitrary accounting construct whose value depends on how the government chooses to label its receipts and payments. This paper demonstrates the ...
A Modified Consumer Price Index - Scientific Research Publishing
... the media as the primary scorecard of a nation’s economic health and welfare. However, GDP has some unavoidable deficiencies as a measure of economic performance (see [10-12]), and is incapable of measuring peoples’ well-being. The major problem is that GDP makes no distinction between economic tran ...
... the media as the primary scorecard of a nation’s economic health and welfare. However, GDP has some unavoidable deficiencies as a measure of economic performance (see [10-12]), and is incapable of measuring peoples’ well-being. The major problem is that GDP makes no distinction between economic tran ...
A.1. Reflecting on new developmentalism and classical
... In relation to political theory, what is the nature of the modern state according to new developmentalism? In rich countries it began as absolutist, changed into the liberal state, changed again into liberal democracy as people acquired the right to universal suffrage. A little later, with the press ...
... In relation to political theory, what is the nature of the modern state according to new developmentalism? In rich countries it began as absolutist, changed into the liberal state, changed again into liberal democracy as people acquired the right to universal suffrage. A little later, with the press ...
Fiscal consolidation as a self-fulfilling prophecy on fiscal multipliers
... This outcome has other specific results if additional assumptions on government decision-taking are made. Government expectations, which influence decision on timing of the consolidation, might become a self-fulfilling prophecy. Specifically when the policy-maker expects the multiplier to stay high ...
... This outcome has other specific results if additional assumptions on government decision-taking are made. Government expectations, which influence decision on timing of the consolidation, might become a self-fulfilling prophecy. Specifically when the policy-maker expects the multiplier to stay high ...
The NAIRU and the Natural Rate of Unemployment
... be attained with an unlimited rise in the rate of unemployment. This trivial finding is important in particular with respect to the later discussion pertaining to the relationship between the natural rate of unemployment and the NAIRU. As far as the level of the non-inflationary rate of unemployment ...
... be attained with an unlimited rise in the rate of unemployment. This trivial finding is important in particular with respect to the later discussion pertaining to the relationship between the natural rate of unemployment and the NAIRU. As far as the level of the non-inflationary rate of unemployment ...
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.