Output and Expenditure in the Short Run
... GDP in the short run, assuming the price level is constant. In any particular year, the level of GDP is determined by the level of total spending, or aggregate expenditure, in the economy. The four components of aggregate expenditure are: consumption (C), planned investment (I), government purchases ...
... GDP in the short run, assuming the price level is constant. In any particular year, the level of GDP is determined by the level of total spending, or aggregate expenditure, in the economy. The four components of aggregate expenditure are: consumption (C), planned investment (I), government purchases ...
Hysteresis and Persistent Long-term Unemployment
... I conduct a counterfactual simulation in which matching efficiency does not fall during the Great Recession. When the effects of hysteresis on the labor market are removed for the 2007-2014 period, American employment is higher by over 12 million workers. The slow recovery from the Depression is con ...
... I conduct a counterfactual simulation in which matching efficiency does not fall during the Great Recession. When the effects of hysteresis on the labor market are removed for the 2007-2014 period, American employment is higher by over 12 million workers. The slow recovery from the Depression is con ...
Structural Unemployment in Japan - Pacific Economic Cooperation
... Employment adjustment speed was slow, because of high fixed costs due to long-term employment and accumulated firm-specific skills though intensive OJT. Discouraged-worker effect among women contributed to reduce labor supply during recessions. Smooth transition from school to work was ensured throu ...
... Employment adjustment speed was slow, because of high fixed costs due to long-term employment and accumulated firm-specific skills though intensive OJT. Discouraged-worker effect among women contributed to reduce labor supply during recessions. Smooth transition from school to work was ensured throu ...
Reconsidering the business cycle and stabilisation policies in South
... gate economic activity. Burns and Mitchell and others of their era did not have access to reliable time series of gross domestic product as a summary of economic activity, 2 and that is why these pioneers of formal business cycle analysis found it “...necessary to have recourse to other statistical ...
... gate economic activity. Burns and Mitchell and others of their era did not have access to reliable time series of gross domestic product as a summary of economic activity, 2 and that is why these pioneers of formal business cycle analysis found it “...necessary to have recourse to other statistical ...
Rapid estimates: a dashboard for short-term economic developments Kees Zeelenberg
... • Statistics Netherlands • Eurostat • OECD • ABS (Australia) • Korea Business cycle Dashboard ...
... • Statistics Netherlands • Eurostat • OECD • ABS (Australia) • Korea Business cycle Dashboard ...
How to measure a fiscal stimulus
... a partial view of the relevant fiscal developments. Furthermore, it might be prone to varying classifications, or even manipulation, in international comparisons. In this regard, the selec tion of measures may depend on the cut-off date or other criteria for their choice. These objections hold in p ...
... a partial view of the relevant fiscal developments. Furthermore, it might be prone to varying classifications, or even manipulation, in international comparisons. In this regard, the selec tion of measures may depend on the cut-off date or other criteria for their choice. These objections hold in p ...
Chapter 21 - McGraw Hill Higher Education
... 5. Inflation makes foreign goods cheaper in relation to domestic goods. ...
... 5. Inflation makes foreign goods cheaper in relation to domestic goods. ...
So what is economic success? Going beyond GDP
... organisations are managed today. They shape the way people think about the economy and business, affecting their behaviour and the actual outcomes of economic activity. Economic growth, measured as real increases in GDP, is at the centre of public policy debates around the world. Profit is at the he ...
... organisations are managed today. They shape the way people think about the economy and business, affecting their behaviour and the actual outcomes of economic activity. Economic growth, measured as real increases in GDP, is at the centre of public policy debates around the world. Profit is at the he ...
Government Spending Multipliers under the Zero
... in government spending by one percent of GDP, during the periods when nominal interest rates are at the zero lower bound? The recent global financial crisis, which forced the central banks in many developed countries to reduce their short-term nominal interest rates close to the zero bound, brought ...
... in government spending by one percent of GDP, during the periods when nominal interest rates are at the zero lower bound? The recent global financial crisis, which forced the central banks in many developed countries to reduce their short-term nominal interest rates close to the zero bound, brought ...
Prudent debt level: a tentative calculation
... A government that responds to economic shocks by changing the debt level instead of increasing the tax rate, as advocated by Barro (1979), has a debt-to-GDP ratio that follows a random walk. If the government debt level has no impact on the economy, either directly or via the expectations it generat ...
... A government that responds to economic shocks by changing the debt level instead of increasing the tax rate, as advocated by Barro (1979), has a debt-to-GDP ratio that follows a random walk. If the government debt level has no impact on the economy, either directly or via the expectations it generat ...
National Accounts on the Economic Crisis in Slovenia
... GDP figure is the result of one comprehensive statistical survey. ...
... GDP figure is the result of one comprehensive statistical survey. ...
Utah Jobs: Quantity vs. Quality
... In 2011, Utah Governor Gary Herbert made recovery in the state’s employment situation a focus by pledging to create 100,000 jobs in 1,000 days.1 Since then the Utah economy has met and surpassed that goal.2 Over the course of 2014, for example, employment grew 3.9%, translating into 50,700 new jobs ...
... In 2011, Utah Governor Gary Herbert made recovery in the state’s employment situation a focus by pledging to create 100,000 jobs in 1,000 days.1 Since then the Utah economy has met and surpassed that goal.2 Over the course of 2014, for example, employment grew 3.9%, translating into 50,700 new jobs ...
Unpacking the Multiplier: Making Sense of
... cacy o f the stim ulus treat the m ultiplier as singular, claim ing that the fraction o f new spending that displaces existing production is always at or near one, or the fraction o f tax reductions spent by beneficiaries is always at or near zero. Robert Barro (2009), for exam ple, focuses on crow ...
... cacy o f the stim ulus treat the m ultiplier as singular, claim ing that the fraction o f new spending that displaces existing production is always at or near one, or the fraction o f tax reductions spent by beneficiaries is always at or near zero. Robert Barro (2009), for exam ple, focuses on crow ...
Building the Aggregate Expenditures Model
... A) MPC has increased but its APC at each income level is unchanged. B) APC at each income level is increased but its MPC is unchanged. C) MPC and APC at each income level have both increased. D) MPC and APC at each income level have both decreased. ...
... A) MPC has increased but its APC at each income level is unchanged. B) APC at each income level is increased but its MPC is unchanged. C) MPC and APC at each income level have both increased. D) MPC and APC at each income level have both decreased. ...
IDC`s Forecast Scenario Assumptions for the ICT Markets and
... High. The key advantage to cloud services should be the ability of IT organizations to shift IT resources from maintenance to new initiatives. This in turn could lead to new business revenue and competitiveness as well as create new opportunities for IT vendors in SMB and emerging markets. The benef ...
... High. The key advantage to cloud services should be the ability of IT organizations to shift IT resources from maintenance to new initiatives. This in turn could lead to new business revenue and competitiveness as well as create new opportunities for IT vendors in SMB and emerging markets. The benef ...
Unit III Answers to Extra Practice Questions CHAPTER 9
... These latter two determinants of investment support the contention of economists that the investment schedule is more unstable than the consumption schedule. Technological change is difficult to predict and certainly its impact would vary depending on the extent of the change. The stock of capital g ...
... These latter two determinants of investment support the contention of economists that the investment schedule is more unstable than the consumption schedule. Technological change is difficult to predict and certainly its impact would vary depending on the extent of the change. The stock of capital g ...
View PDF - CiteSeerX
... It is often maintained in conflict studies that the warproneness of a system is contingent on the distribution of capabilities within the system; in essence, this is an extension of the realist argument of selfinterested behavior by the states in the system, with all states reacting similarly given ...
... It is often maintained in conflict studies that the warproneness of a system is contingent on the distribution of capabilities within the system; in essence, this is an extension of the realist argument of selfinterested behavior by the states in the system, with all states reacting similarly given ...
EMU enlargement and government debt - Otto-Wolff
... income in the case of high macroeconomic volatility. If business cycle demand problems are correctly identified and procyclality is avoided, fiscal policy may also play a role to stabilise the economy. This may be even more needed (and/or used for political economic reasons) in EMU, as monetary poli ...
... income in the case of high macroeconomic volatility. If business cycle demand problems are correctly identified and procyclality is avoided, fiscal policy may also play a role to stabilise the economy. This may be even more needed (and/or used for political economic reasons) in EMU, as monetary poli ...
The Influence of IMF Programs on the Re
... prevail. These different expectations on the results of IMF programs might emerge because politicians as well as some groups protected by them derive benefits from IMF money or conditions attached to it although the population as a whole is worse off (Vreeland, 2002). As another explanation, voters m ...
... prevail. These different expectations on the results of IMF programs might emerge because politicians as well as some groups protected by them derive benefits from IMF money or conditions attached to it although the population as a whole is worse off (Vreeland, 2002). As another explanation, voters m ...
2015 Spring - 421 Notes 03
... Considering that X − IM was only -3.5% of GDP in 2010 for the US, this is not an unforgivable assumption. ...
... Considering that X − IM was only -3.5% of GDP in 2010 for the US, this is not an unforgivable assumption. ...
the evolution of economic understanding
... important feature of the model was a definite belief that attempting to push the economy above full employment would be self-defeating. Such policies would lead to inflation, which would in turn lower long-term growth and possibly precipitate a recession. Thus, if anything, the 1950s model held that ...
... important feature of the model was a definite belief that attempting to push the economy above full employment would be self-defeating. Such policies would lead to inflation, which would in turn lower long-term growth and possibly precipitate a recession. Thus, if anything, the 1950s model held that ...
Sunspots and perceptions in consumer expectations
... Perceptions are also important for how consumers view changes in monetary policy. Changes in the cash rate (Australia’s policy rate) appear to be seen by consumers as signals of the strength of the economy. A rise in the cash rate signals that the central bank expects robust growth, inflationary pr ...
... Perceptions are also important for how consumers view changes in monetary policy. Changes in the cash rate (Australia’s policy rate) appear to be seen by consumers as signals of the strength of the economy. A rise in the cash rate signals that the central bank expects robust growth, inflationary pr ...
The Close Connection Between Nominal
... a reasonable approximation of actual U.S. monetary policy? Using the slope of the real yield curve (the di¤erence between long-forward and short-term real interest rates) to measure the Fed’s policy stance, the answer is a quali…ed “yes.”4 From the late 1980s through 2004, the FOMC typically set rea ...
... a reasonable approximation of actual U.S. monetary policy? Using the slope of the real yield curve (the di¤erence between long-forward and short-term real interest rates) to measure the Fed’s policy stance, the answer is a quali…ed “yes.”4 From the late 1980s through 2004, the FOMC typically set rea ...
An Alternative Framework for Sectoral Contributions to GDP
... By taking into account changes in relative prices, the GEN growth contribution of an industry is given by the sum of the three components in the right-hand side of (22). In contrast, TRAD ignores changes in relative prices so that the growth contribution of an industry is given only by the single co ...
... By taking into account changes in relative prices, the GEN growth contribution of an industry is given by the sum of the three components in the right-hand side of (22). In contrast, TRAD ignores changes in relative prices so that the growth contribution of an industry is given only by the single co ...
The 1920s and the 1990s in Mutual Reflection
... With the 1913:1984 to 1932:2003 alignment, Figure 1 displays the astonishing similarity of real GDP growth in the 1920s and 1990s. With a base year of 1929=2000=100, we note that the growth rate of real GDP was identical over the intervals 1913-29 and 1984-2000, or alternatively between 1919-29 and ...
... With the 1913:1984 to 1932:2003 alignment, Figure 1 displays the astonishing similarity of real GDP growth in the 1920s and 1990s. With a base year of 1929=2000=100, we note that the growth rate of real GDP was identical over the intervals 1913-29 and 1984-2000, or alternatively between 1919-29 and ...