NBER WORKING PAPER SERIES THE CONQUEST OF SOUTH AMERICAN INFLATION Thomas Sargent
... bursts of inflation in Latin America that seemed not to coincide with any marked increases in government deficits. However, note that when deficits are higher on average, as in the dashed lines in figure 1, not only is inflation higher on average due to the higher π1∗ , but the higher fixed point π2 ...
... bursts of inflation in Latin America that seemed not to coincide with any marked increases in government deficits. However, note that when deficits are higher on average, as in the dashed lines in figure 1, not only is inflation higher on average due to the higher π1∗ , but the higher fixed point π2 ...
Steven Davis presentation
... will make economic policy decisions, 68% discuss uncertainty about what policies will be undertaken or when, and 47% discuss uncertainty about the effects of past, present or future policy actions. • The who share of EPU H = 1 triples in presidential election years as compared to other years the n ...
... will make economic policy decisions, 68% discuss uncertainty about what policies will be undertaken or when, and 47% discuss uncertainty about the effects of past, present or future policy actions. • The who share of EPU H = 1 triples in presidential election years as compared to other years the n ...
1 Principles of Macroeconomics, 9e
... by coal miners reduced the supply of coal and increased the price of coal. This would cause A) the short-run aggregate supply curve to shift to the right. B) the short-run aggregate supply curve to become flatter. C) the short-run aggregate supply curve to shift to the left. D) the short-run aggrega ...
... by coal miners reduced the supply of coal and increased the price of coal. This would cause A) the short-run aggregate supply curve to shift to the right. B) the short-run aggregate supply curve to become flatter. C) the short-run aggregate supply curve to shift to the left. D) the short-run aggrega ...
Testing stabilisation policy limits in a small open policy forum
... New Zealand may have been unique. Hence, there was a general tone that there is no reason for New Zealand policy makers to panic. Participants at the Forum did not go so far to suggest, however, that policy makers in New Zealand can be complacent about the economic outlook, or that there are no poli ...
... New Zealand may have been unique. Hence, there was a general tone that there is no reason for New Zealand policy makers to panic. Participants at the Forum did not go so far to suggest, however, that policy makers in New Zealand can be complacent about the economic outlook, or that there are no poli ...
Money, Banking, and the Financial System
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
No.334 / August 2010 IIIS Discussion Paper No. 334
... Kumhof and Laxton (2009) also show qualitatively-similar results apply in relation to a temporary increase in the fiscal deficit even in an infinite-horizon framework if some proportion of households are credit constrained. Under these conditions, a debt-financed tax cut boosts the current consumpti ...
... Kumhof and Laxton (2009) also show qualitatively-similar results apply in relation to a temporary increase in the fiscal deficit even in an infinite-horizon framework if some proportion of households are credit constrained. Under these conditions, a debt-financed tax cut boosts the current consumpti ...
The Aggregate-Supply - Churchill High School
... The long run is a misleading guide to current affairs. In the long run, we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us when the storm is long past, the ocean will be flat. AGGREGATE DEMAND AND AGGREGATE SUPPLY ...
... The long run is a misleading guide to current affairs. In the long run, we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us when the storm is long past, the ocean will be flat. AGGREGATE DEMAND AND AGGREGATE SUPPLY ...
Sample
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
1 Principles of Macroeconomics, 9e
... 6) Policy lags mean that A) economic policy may be inappropriate when it takes affect. B) economic policy will be ineffective. C) fiscal policy is more effective than monetary policy. D) monetary policy is more effective than fiscal policy. Answer: A Diff: 2 Topic: Time Lags Regarding Monetary and F ...
... 6) Policy lags mean that A) economic policy may be inappropriate when it takes affect. B) economic policy will be ineffective. C) fiscal policy is more effective than monetary policy. D) monetary policy is more effective than fiscal policy. Answer: A Diff: 2 Topic: Time Lags Regarding Monetary and F ...
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... Klenow, 2004; Nakamura and Steinsson, 2008; Klenow and Kryvtsov, 2008). These data, however, have the substantial disadvantage that they span only the post-1987 Greenspan-Bernanke period of U.S. monetary history, when inflation was low and stable. This seriously limits their usefulness in studying h ...
... Klenow, 2004; Nakamura and Steinsson, 2008; Klenow and Kryvtsov, 2008). These data, however, have the substantial disadvantage that they span only the post-1987 Greenspan-Bernanke period of U.S. monetary history, when inflation was low and stable. This seriously limits their usefulness in studying h ...
policy disagreement and the transmission of - ECB
... nancial crisis in 2008, however, budgetary authorities were faced with a relatively new and certainly challenging - economic context. This re-launched scal policy as a stabilisation tool and, contemporaneously, highlighted the importance of policy communication for an eective transmission of the ...
... nancial crisis in 2008, however, budgetary authorities were faced with a relatively new and certainly challenging - economic context. This re-launched scal policy as a stabilisation tool and, contemporaneously, highlighted the importance of policy communication for an eective transmission of the ...
mtw11-Benz 16830266 en
... due to two opposing forces. On the one hand, a high share of oshored production increases the leverage of a given research eort and thus leads to more innovative work. On the other hand, a high share of oshored production increases the risk of imitation, which destroys prots from Northern innova ...
... due to two opposing forces. On the one hand, a high share of oshored production increases the leverage of a given research eort and thus leads to more innovative work. On the other hand, a high share of oshored production increases the risk of imitation, which destroys prots from Northern innova ...
Discussing Economic Factors` Effects on Personal Saving Rate
... because a low personal saving rate means that the U.S. economy is growing rapidly in the short run. However, business capital and investment are increasingly moving abroad as globalization occurs, and worldwide economic integration is accordingly strengthened. Therefore, every country is involved in ...
... because a low personal saving rate means that the U.S. economy is growing rapidly in the short run. However, business capital and investment are increasingly moving abroad as globalization occurs, and worldwide economic integration is accordingly strengthened. Therefore, every country is involved in ...
Can the Term Spread Predict Output Growth and Recessions? A
... growth or inflation could cause changes in the ability of the term spread to forecast output growth. In contrast to explanations that focus on monetary policy, theories of intertemporal consumption derive a relationship between the slope of the yield curve and future economic activity explicitly fro ...
... growth or inflation could cause changes in the ability of the term spread to forecast output growth. In contrast to explanations that focus on monetary policy, theories of intertemporal consumption derive a relationship between the slope of the yield curve and future economic activity explicitly fro ...
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... • As discussed above, the size of the automatic stabilisers is positively related to the share of government expenditure in GDP, the degree of tax progressivity and the generosity of unemployment compensation. But the decisions on such structural parameters have not been influenced much by stabilisa ...
... • As discussed above, the size of the automatic stabilisers is positively related to the share of government expenditure in GDP, the degree of tax progressivity and the generosity of unemployment compensation. But the decisions on such structural parameters have not been influenced much by stabilisa ...
2004] legal measures of inflation 1 The Price of Macroeconomic
... whether the United States can remain “at the world productivity frontier in many industries.”1 As the prospect of “a new era of greater economic prosperity and possibility” fades with each dot-com mirage and each shocking corporate scandal, cautious Americans must question how quickly their country ...
... whether the United States can remain “at the world productivity frontier in many industries.”1 As the prospect of “a new era of greater economic prosperity and possibility” fades with each dot-com mirage and each shocking corporate scandal, cautious Americans must question how quickly their country ...
Chapter one: Introduction to Macroeconomics 1) Which of the
... Chapter 2: Measuring national income 1) The total market value of all final goods and services produced within a given period by factors of production located within a country is A) gross domestic product. B) gross national product. C) net national product. D) net national income. Answer: A 2) Gros ...
... Chapter 2: Measuring national income 1) The total market value of all final goods and services produced within a given period by factors of production located within a country is A) gross domestic product. B) gross national product. C) net national product. D) net national income. Answer: A 2) Gros ...
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... because majority of the population do not have access to basic needs of life in the economy, mostly food products. ...
... because majority of the population do not have access to basic needs of life in the economy, mostly food products. ...
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.