inertial inflation and the cruzado plan - Bresser
... Wages could not be directly converted from Cruzeiros to Cruzados due to the different months in which wage readjustments were legally executed. They could also not be readjusted to their peak real value on D day by increasing nominal wages by 100% of the period’s inflation and then be converted into ...
... Wages could not be directly converted from Cruzeiros to Cruzados due to the different months in which wage readjustments were legally executed. They could also not be readjusted to their peak real value on D day by increasing nominal wages by 100% of the period’s inflation and then be converted into ...
National Income Accounting - Queen's Economics Department
... macroeconomics to exist in the form we know it today because many aggregate concepts had not yet been formulated, or were lacking rigour. ...
... macroeconomics to exist in the form we know it today because many aggregate concepts had not yet been formulated, or were lacking rigour. ...
Presidents and the U.S. Economy: An Econometric Exploration
... is correct. If we estimate the gap using data ending right after the Eisenhower presidency, it is a whopping 4.14 percentage points (t-ratio = 2.6 using Newey-West standard errors described below). If we end the subsample after the Nixon-Ford administrations, the estimated gap is 3.17 percentage po ...
... is correct. If we estimate the gap using data ending right after the Eisenhower presidency, it is a whopping 4.14 percentage points (t-ratio = 2.6 using Newey-West standard errors described below). If we end the subsample after the Nixon-Ford administrations, the estimated gap is 3.17 percentage po ...
Monetary Policy Interim Report
... the recession reflects a slump in domestic demand, which was the main driver of growth up until 2008. This slump was a consequence of the imperative fiscal consolidation and its stronger-than-foreseen effect on output coupled with a severe deterioration in financial conditions and a contraction of c ...
... the recession reflects a slump in domestic demand, which was the main driver of growth up until 2008. This slump was a consequence of the imperative fiscal consolidation and its stronger-than-foreseen effect on output coupled with a severe deterioration in financial conditions and a contraction of c ...
A Forecast assumptions
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
Presidents and the U.S. Economy: An Econometric Exploration
... is correct. If we estimate the gap using data ending right after the Eisenhower presidency, it is a whopping 4.14 percentage points (t-ratio = 2.6 using Newey-West standard errors described below). If we end the subsample after the Nixon-Ford administrations, the estimated gap is 3.17 percentage po ...
... is correct. If we estimate the gap using data ending right after the Eisenhower presidency, it is a whopping 4.14 percentage points (t-ratio = 2.6 using Newey-West standard errors described below). If we end the subsample after the Nixon-Ford administrations, the estimated gap is 3.17 percentage po ...
THE EFFECTS OF FISCAL POLICY IN ITALY
... The sources of our government budget data are the Italian Ministry of Treasury and the Bank of Italy. Since the early Eighties, the Treasury publishes quarterly cash figures, covering actual payments and receipts of central and local governments, as well as those of health and social security instit ...
... The sources of our government budget data are the Italian Ministry of Treasury and the Bank of Italy. Since the early Eighties, the Treasury publishes quarterly cash figures, covering actual payments and receipts of central and local governments, as well as those of health and social security instit ...
chapter summary
... 1. This chapter discusses two important macroeconomic problems, inflation and unemployment. Although these subjects are often discussed in the news, they are widely misunderstood by the general public. 2. Most students will believe that the only people hurt when the unemployment rate rises are those ...
... 1. This chapter discusses two important macroeconomic problems, inflation and unemployment. Although these subjects are often discussed in the news, they are widely misunderstood by the general public. 2. Most students will believe that the only people hurt when the unemployment rate rises are those ...
Fiscal policy, pricing frictions and monetary accommodation
... historical experience. Coenen et al. (2010) perform similar exercises in seven large scale models used by the policy institutions in the developed world. The conclusions reached by these authors are simple: in normal conditions, expenditure increases induce modest aggregate demand effects. The short ...
... historical experience. Coenen et al. (2010) perform similar exercises in seven large scale models used by the policy institutions in the developed world. The conclusions reached by these authors are simple: in normal conditions, expenditure increases induce modest aggregate demand effects. The short ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... autoregressions (EVARs), whether the sample includes World War II and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact, in most cases it leads to a significant fall. These results imply that the government spending multiplier i ...
... autoregressions (EVARs), whether the sample includes World War II and Korea or excludes them, an increase in government spending never leads to a significant rise in private spending. In fact, in most cases it leads to a significant fall. These results imply that the government spending multiplier i ...
Objectives for Chapter 9 Aggregate Demand and Aggregate Supply
... bonds, bills, stocks, and so forth will see their assets go down in value. If people become less wealthy, they are likely to spend less, causing aggregate demand to fall. There are other reasons for the downward slope of the aggregate demand curve. These will be explained in future chapters. The gra ...
... bonds, bills, stocks, and so forth will see their assets go down in value. If people become less wealthy, they are likely to spend less, causing aggregate demand to fall. There are other reasons for the downward slope of the aggregate demand curve. These will be explained in future chapters. The gra ...
Chapter 9 Aggregate Demand and Aggregate Supply
... bonds, bills, stocks, and so forth will see their assets go down in value. If people become less wealthy, they are likely to spend less, causing aggregate demand to fall. There are other reasons for the downward slope of the aggregate demand curve. These will be explained in future chapters. The gra ...
... bonds, bills, stocks, and so forth will see their assets go down in value. If people become less wealthy, they are likely to spend less, causing aggregate demand to fall. There are other reasons for the downward slope of the aggregate demand curve. These will be explained in future chapters. The gra ...
Document
... of the response of policymakers to inflation. If inflation is high, the monetary policy rule dictates increasing the interest rate. This reduces output by lowering investment demand. The AS curve slopes upward as an implication of price-setting behavior of firms embodied in the Phillips curve. ...
... of the response of policymakers to inflation. If inflation is high, the monetary policy rule dictates increasing the interest rate. This reduces output by lowering investment demand. The AS curve slopes upward as an implication of price-setting behavior of firms embodied in the Phillips curve. ...
Y - McGraw Hill Higher Education
... Insufficient spending to support the normal level of production ...
... Insufficient spending to support the normal level of production ...
Economics 101 Homework Assignments Spring
... rapid rate (hyperinflation) while prices in the United States were hardly rising at all. Second, for a variety of reasons, those who had made portfolio investments in Russia decided to take their money elsewhere. This means that they demanded that the loans they had made in Russia be paid off. When ...
... rapid rate (hyperinflation) while prices in the United States were hardly rising at all. Second, for a variety of reasons, those who had made portfolio investments in Russia decided to take their money elsewhere. This means that they demanded that the loans they had made in Russia be paid off. When ...
Real Business Cycles
... Investment and the Capital Stock • Recall that investment is defined as the purchase of new capital goods. • Capital goods are constantly wearing out (depreciation). Therefore, positive investment is needed to maintain the current capital stock. • The capital stock evolves according to ...
... Investment and the Capital Stock • Recall that investment is defined as the purchase of new capital goods. • Capital goods are constantly wearing out (depreciation). Therefore, positive investment is needed to maintain the current capital stock. • The capital stock evolves according to ...
Large changes in fiscal policy: taxes versus spending.
... the state of public finances and of the economy. But up to a point the decision of whether to act upon the spending side or the revenue side is largely political and due to bargaining amongst political and pressure groups. The uncertainty about the size of fiscal multipliers make this discussion eve ...
... the state of public finances and of the economy. But up to a point the decision of whether to act upon the spending side or the revenue side is largely political and due to bargaining amongst political and pressure groups. The uncertainty about the size of fiscal multipliers make this discussion eve ...
Delusional economics and the economic
... You and I are small beer. If we want a surplus we cut our expenditure or raise our income. What we do is not important to the economy at large – unless everyone else does the same. ...
... You and I are small beer. If we want a surplus we cut our expenditure or raise our income. What we do is not important to the economy at large – unless everyone else does the same. ...
The Expenditure-Output Model
... in this and the following gures, because all consumption expenditures are parts of aggregate expenditures.) An assumption commonly made in this model is that even if income were zero, people would have to consume something. In this example, consumption would be $600 even if income were zero. Then, ...
... in this and the following gures, because all consumption expenditures are parts of aggregate expenditures.) An assumption commonly made in this model is that even if income were zero, people would have to consume something. In this example, consumption would be $600 even if income were zero. Then, ...
CHAPTER 7 Measuring Domestic Output, National
... A) the amount of machinery and equipment used up in producing the GDP in a specific year. B) the difference between the market value and book value of outstanding capital stock. C) gross domestic investment less net exports. D) total investment less the amount of investment goods used up in producin ...
... A) the amount of machinery and equipment used up in producing the GDP in a specific year. B) the difference between the market value and book value of outstanding capital stock. C) gross domestic investment less net exports. D) total investment less the amount of investment goods used up in producin ...
Hanna G. ADAMKIEWICZ, Stanislaw M. KOT1 HOW DOES
... Second, there is an optimal level of international competitiveness (3.5, 4.0) that provides a maximal GDP/capita elasticity. Third, countries with low competitiveness may enjoy immediate effects of economic development while improving their competitiveness. On the other hand, when highly competitive ...
... Second, there is an optimal level of international competitiveness (3.5, 4.0) that provides a maximal GDP/capita elasticity. Third, countries with low competitiveness may enjoy immediate effects of economic development while improving their competitiveness. On the other hand, when highly competitive ...
Answers to Text Questions and Problems Chapter 22 Answers to
... units, it would add nothing to inventory, and its actual investment (including inventory investment) would be less than planned. 5. Figure 23.2 shows a consumption function. Consumption (C), is on the vertical axis and disposable income (Y – T), is on the horizontal axis. a. A movement from left to ...
... units, it would add nothing to inventory, and its actual investment (including inventory investment) would be less than planned. 5. Figure 23.2 shows a consumption function. Consumption (C), is on the vertical axis and disposable income (Y – T), is on the horizontal axis. a. A movement from left to ...
A-level Economics Mark Scheme Unit 02
... for explaining why it might lead to a fall in investment. Recession (2) means that consumer spending (or aggregate demand) falls (2), hence firms will have less need to increase capacity (2), their profits are likely to be falling (2) and so they are likely to cut back on investment to ensure their ...
... for explaining why it might lead to a fall in investment. Recession (2) means that consumer spending (or aggregate demand) falls (2), hence firms will have less need to increase capacity (2), their profits are likely to be falling (2) and so they are likely to cut back on investment to ensure their ...
An analysis of Okun`s law for the Spanish provinces
... participation and industrial structure which may result in unemployment response disparities. In this regard, the provincial approach (NUTS 3) implies a more thorough and rigorous analysis that clarifies the patterns and differences in unemployment sensitivity to economic variations. Besides, it is ...
... participation and industrial structure which may result in unemployment response disparities. In this regard, the provincial approach (NUTS 3) implies a more thorough and rigorous analysis that clarifies the patterns and differences in unemployment sensitivity to economic variations. Besides, it is ...