Textbook of Economics
... students study economics at colleges rather than at universities so that they need less profound knowledge. Second, the book is written in simple English, as I am not a native speaker of English myself. This can be an advantage for foreign students whose mother tongue is different from English. Thir ...
... students study economics at colleges rather than at universities so that they need less profound knowledge. Second, the book is written in simple English, as I am not a native speaker of English myself. This can be an advantage for foreign students whose mother tongue is different from English. Thir ...
View the Entire Research Piece as a PDF here.
... other currencies, volatilities have rarely been that low over the past 40-plus years (see Table 1) and are currently well below the long-term average (see Figure 3). For the currencies in which gold price volatility isn’t near all-time lows, the reason lies in the denominator as those currencies go ...
... other currencies, volatilities have rarely been that low over the past 40-plus years (see Table 1) and are currently well below the long-term average (see Figure 3). For the currencies in which gold price volatility isn’t near all-time lows, the reason lies in the denominator as those currencies go ...
Solutions to Study Guide Questions
... b) Countries both export and import automobiles, beer, cheese, children’s toys. The simplest explanation for exporting and importing the same type of good, but differentiated in some way, e.g. parmesan cheese and brie, is variety. If Italy and France both export cheese to each other, then both natio ...
... b) Countries both export and import automobiles, beer, cheese, children’s toys. The simplest explanation for exporting and importing the same type of good, but differentiated in some way, e.g. parmesan cheese and brie, is variety. If Italy and France both export cheese to each other, then both natio ...
NBER WORKING PAPER SERIES A MARKOV JUMP-LINEAR-QUADRATIC APPROACH
... In previous work, Svensson and Williams [16] and [17], we have developed methods to study optimal policy in Markov jump-linear-quadratic (MJLQ) models with forward-looking variables: models with conditionally linear dynamics and conditionally quadratic preferences, where the matrices in both prefere ...
... In previous work, Svensson and Williams [16] and [17], we have developed methods to study optimal policy in Markov jump-linear-quadratic (MJLQ) models with forward-looking variables: models with conditionally linear dynamics and conditionally quadratic preferences, where the matrices in both prefere ...
NBER WORKING PAPER SERIES NONLINEAR ADVENTURES AT THE ZERO LOWER BOUND
... and, in every period, there is a probability that the discount factor will move to its long run value and never change again. In the model with capital, the path for the discount factor (and hence, for the economy, conditional on some …scal policy) is deterministic. Braun and Körber (2010) employ a ...
... and, in every period, there is a probability that the discount factor will move to its long run value and never change again. In the model with capital, the path for the discount factor (and hence, for the economy, conditional on some …scal policy) is deterministic. Braun and Körber (2010) employ a ...
Shifts of the Short-Run Aggregate Supply Curve
... The long-run aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied that would exist if all prices, including nominal wages, were fully ...
... The long-run aggregate supply curve shows the relationship between the aggregate price level and the quantity of aggregate output supplied that would exist if all prices, including nominal wages, were fully ...
wiiw Balkan Observatory Working Paper 43: Slovenia
... the EU in order to bridge the income gap with this group of countries, (ii) to enhance international competitiveness of the Slovenian economy, (iii) to integrate the country into European integrations, and (iv) to promote long-term economic growth that is environmentally, regionally, socially and et ...
... the EU in order to bridge the income gap with this group of countries, (ii) to enhance international competitiveness of the Slovenian economy, (iii) to integrate the country into European integrations, and (iv) to promote long-term economic growth that is environmentally, regionally, socially and et ...
Impact of Macroeconomic Factors on Non-financial
... Relationship between stock returns and macro-economic factors is an important area of investigation for the capital market’s financial analysts and academicians. Various studies have been conducted to examine the behavior of different macroeconomic factors and stock returns. This section of the pape ...
... Relationship between stock returns and macro-economic factors is an important area of investigation for the capital market’s financial analysts and academicians. Various studies have been conducted to examine the behavior of different macroeconomic factors and stock returns. This section of the pape ...
The United States as a monetary union
... Given the strong performance of the US economy, it is not surprising that it is typically seen as an example of a successful monetary union. The US experience is often cited as evidence that diverse regions can prosper within a monetary union and can adjust to unanticipated economic disturbances, or ...
... Given the strong performance of the US economy, it is not surprising that it is typically seen as an example of a successful monetary union. The US experience is often cited as evidence that diverse regions can prosper within a monetary union and can adjust to unanticipated economic disturbances, or ...
Going Global Why understanding currency diversification within a
... 1700s but it did not spread to the rest of Europe until later, becoming widespread by the 1870s. The United States began to adopt a gold standard in the early 1800s. While not universal, the gold standard was widely used until World War I. The period of the gold standard was one of smooth internatio ...
... 1700s but it did not spread to the rest of Europe until later, becoming widespread by the 1870s. The United States began to adopt a gold standard in the early 1800s. While not universal, the gold standard was widely used until World War I. The period of the gold standard was one of smooth internatio ...
Parkin-Bade Chapter 21
... New Goods Bias New goods that were not available in the base year appear and, if they are more expensive than the goods they replace, they put an upward bias into the CPI. Quality Change Bias Quality improvements occur every year. Part of the rise in the price is payment for improved quality and is ...
... New Goods Bias New goods that were not available in the base year appear and, if they are more expensive than the goods they replace, they put an upward bias into the CPI. Quality Change Bias Quality improvements occur every year. Part of the rise in the price is payment for improved quality and is ...
6010 - Reference
... expectations are rational in the sense that they combine all the available information and therefore do not lead to systematic forecasting errors. The implication of the rational expectations hypothesis is that policies will only be effective when they produce surprises (= forecast errors). By defin ...
... expectations are rational in the sense that they combine all the available information and therefore do not lead to systematic forecasting errors. The implication of the rational expectations hypothesis is that policies will only be effective when they produce surprises (= forecast errors). By defin ...
6010 T : M
... expectations are rational in the sense that they combine all the available information and therefore do not lead to systematic forecasting errors. The implication of the rational expectations hypothesis is that policies will only be effective when they produce surprises (= forecast errors). By defin ...
... expectations are rational in the sense that they combine all the available information and therefore do not lead to systematic forecasting errors. The implication of the rational expectations hypothesis is that policies will only be effective when they produce surprises (= forecast errors). By defin ...
Economic Fluctuations, Unemployment, and Inflation (15th ed.)
... 1. Classify the following as employed, unemployed, or not in labor force: a) person who is not working but applied for a job at Target last week b) person working part-time and searching diligently for a full-time job c) auto worker vacationing in Florida during a layoff at a General Motors plant wh ...
... 1. Classify the following as employed, unemployed, or not in labor force: a) person who is not working but applied for a job at Target last week b) person working part-time and searching diligently for a full-time job c) auto worker vacationing in Florida during a layoff at a General Motors plant wh ...
Parkin-Bade Chapter 21
... Substitution Bias The market basket of goods used in calculating the price index is fixed and does not take into account substitutions that consumers make away from goods whose relative prices rise. As the structure of retailing changes, people switch to buying from cheaper sources, but the price in ...
... Substitution Bias The market basket of goods used in calculating the price index is fixed and does not take into account substitutions that consumers make away from goods whose relative prices rise. As the structure of retailing changes, people switch to buying from cheaper sources, but the price in ...
Optimal Monetary Policy under Uncertainty in DSGE Models: A
... In previous work, Svensson and Williams [16] and [17], we have developed methods to study optimal policy in Markov jump-linear-quadratic (MJLQ) models with forward-looking variables: models with conditionally linear dynamics and conditionally quadratic preferences, where the matrices in both prefere ...
... In previous work, Svensson and Williams [16] and [17], we have developed methods to study optimal policy in Markov jump-linear-quadratic (MJLQ) models with forward-looking variables: models with conditionally linear dynamics and conditionally quadratic preferences, where the matrices in both prefere ...
Chapter 19 The theory of effective demand
... are artificial constructs. Being functions only of initial resources and price signals, the Walrasian supplies and demands are mutually inconsistent outside equilibrium and can therefore not tell what quantities will be traded during an adjustment process. The story needs a considerable refinement u ...
... are artificial constructs. Being functions only of initial resources and price signals, the Walrasian supplies and demands are mutually inconsistent outside equilibrium and can therefore not tell what quantities will be traded during an adjustment process. The story needs a considerable refinement u ...
THE COLOMBIAN ECONOMY IN THE NINETIES: CAPITAL FLOWS
... in the opposite direction, of interest rates.2 This can be seen in the panels C and D of Graph 2.1. In fact, the first period identified in the previous section, characterized by a decline in economic activity, coincided with high and increasing nominal interest rates. Due to the high levels of infl ...
... in the opposite direction, of interest rates.2 This can be seen in the panels C and D of Graph 2.1. In fact, the first period identified in the previous section, characterized by a decline in economic activity, coincided with high and increasing nominal interest rates. Due to the high levels of infl ...
The currency of an independent Scotland
... should be part of a currency area and where the borders of a currency area should be drawn. OCA literature holds that the essential ingredient of a common currency or a single currency area is an area where factors of production are mobile internally (both geographically and interindustry) but immob ...
... should be part of a currency area and where the borders of a currency area should be drawn. OCA literature holds that the essential ingredient of a common currency or a single currency area is an area where factors of production are mobile internally (both geographically and interindustry) but immob ...
Ch22
... indicate, aggregate demand and supply analysis is useful for understanding important real-world problems such as inflation that cannot be analyzed effectively with the fixed-price ISLM model. Chapter 22 begins by generating a downward-sloping aggregate demand curve from the equation of exchange, MV ...
... indicate, aggregate demand and supply analysis is useful for understanding important real-world problems such as inflation that cannot be analyzed effectively with the fixed-price ISLM model. Chapter 22 begins by generating a downward-sloping aggregate demand curve from the equation of exchange, MV ...
Exercises for Chapter 26
... Pot Poker is investing. 24. Australia has recently implemented a national sales tax. If they use the proceeds from this tax to reduce income tax rates, what happens in the loanable funds market? ANSWER: The supply of loanable funds shifts right. This causes the interest rate to fall. Both investment ...
... Pot Poker is investing. 24. Australia has recently implemented a national sales tax. If they use the proceeds from this tax to reduce income tax rates, what happens in the loanable funds market? ANSWER: The supply of loanable funds shifts right. This causes the interest rate to fall. Both investment ...
一、選擇題︰一題1 分
... (A)rise, keep constant, lowering (B)rise, raise, lowering (C)fall, keep constant, raising (D)fall, raise, lowering【100 銘傳經研所】 31.The crowding-out effect suggests that (A)expansionary fiscal policy causes inflation. (B)restrictive fiscal policy is an effective weapon against inflation. (C)reduction i ...
... (A)rise, keep constant, lowering (B)rise, raise, lowering (C)fall, keep constant, raising (D)fall, raise, lowering【100 銘傳經研所】 31.The crowding-out effect suggests that (A)expansionary fiscal policy causes inflation. (B)restrictive fiscal policy is an effective weapon against inflation. (C)reduction i ...
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.