- Rainer Maurer
... It is possible to explain, why firms on average do not change their prices more often than one time per year with the standard microeconomic profit-maximization behavior. ...
... It is possible to explain, why firms on average do not change their prices more often than one time per year with the standard microeconomic profit-maximization behavior. ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study of the Great Depression,1 while the analysis of inflatio ...
... Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study of the Great Depression,1 while the analysis of inflatio ...
Principles of Macroeconomics Self-study quiz and Exercises with
... 1) To get the economy out of a slump, Keynes believed that the government should A) cut both taxes and government spending. B) increase both taxes and government spending. C) increase taxes and/or decrease government spending. D) decrease taxes and/or increase government spending. Answer: D 2) To br ...
... 1) To get the economy out of a slump, Keynes believed that the government should A) cut both taxes and government spending. B) increase both taxes and government spending. C) increase taxes and/or decrease government spending. D) decrease taxes and/or increase government spending. Answer: D 2) To br ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Butkiewicz (1980), confirm that consumption functions of various types had important negative residuals in 1930. It is a curious feature of Temin's work and that of his critics that no attention has been paid to the issue of finding the true slope of the consumption/income schedule. If the history o ...
... Butkiewicz (1980), confirm that consumption functions of various types had important negative residuals in 1930. It is a curious feature of Temin's work and that of his critics that no attention has been paid to the issue of finding the true slope of the consumption/income schedule. If the history o ...
The Great Inflation in the United States and the United Kingdom
... policymakers’ views also brings the study of the Great Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study o ...
... policymakers’ views also brings the study of the Great Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study o ...
mmi11 Sturm 15004126 en
... robust determinants of IMF involvement include among others past IMF involvement and lagged legislative and executive elections (on the political side) and the level of international reserves, real economic growth rates and currency crises (on the economic side). We contribute to the empirical liter ...
... robust determinants of IMF involvement include among others past IMF involvement and lagged legislative and executive elections (on the political side) and the level of international reserves, real economic growth rates and currency crises (on the economic side). We contribute to the empirical liter ...
N - Piazza
... to help students understand the importance of a model-based approach to macroeconomic analysis as well as how the various models are connected. Our goal is to produce students who have the capacity to analyze current economic issues in the context of an economic frame of reference, namely, a set of ...
... to help students understand the importance of a model-based approach to macroeconomic analysis as well as how the various models are connected. Our goal is to produce students who have the capacity to analyze current economic issues in the context of an economic frame of reference, namely, a set of ...
Robert Barro and Jong-Wha Lee IMF Programs: Who Is Chosen and What Are the Effects? (Second IMF Research Conference).
... analogous variables for other important countries, such as France, Germany and the United Kingdom, but find no additional effects.) We find that, as an international organization influenced by the dominating power of the United States, the IMF apparently takes politics into account when making decis ...
... analogous variables for other important countries, such as France, Germany and the United Kingdom, but find no additional effects.) We find that, as an international organization influenced by the dominating power of the United States, the IMF apparently takes politics into account when making decis ...
Economic Growth and Advertising Expenditures
... Srinivasan (2003) further specify that consumer goods industries advertise more in relation to annual sales than producer goods industries. Lee (2002) adds that the money spend on advertising also depends on consumer preferences, advertising competence (also Jones, 1985), and—in different ways for c ...
... Srinivasan (2003) further specify that consumer goods industries advertise more in relation to annual sales than producer goods industries. Lee (2002) adds that the money spend on advertising also depends on consumer preferences, advertising competence (also Jones, 1985), and—in different ways for c ...
D An Evaluation of Recent Macroeconomic Forecast Errors
... errors over shorter periods, such as the recent underpredictions of GDP, average out over time. Some sample periods beginning in the early 1980s show modest evidence of statistically significant bias in recent GDP forecasts. But the evidence is not robust across sample periods, and it does not appea ...
... errors over shorter periods, such as the recent underpredictions of GDP, average out over time. Some sample periods beginning in the early 1980s show modest evidence of statistically significant bias in recent GDP forecasts. But the evidence is not robust across sample periods, and it does not appea ...
Chapter 30
... This number led administration economists to predict that the stimulus plan that increased government expenditure would prevent the unemployment rate from rising much above 8 percent. This prediction turned out to be optimistic. One reason might be that the multiplier assumption was also too optimis ...
... This number led administration economists to predict that the stimulus plan that increased government expenditure would prevent the unemployment rate from rising much above 8 percent. This prediction turned out to be optimistic. One reason might be that the multiplier assumption was also too optimis ...
NBER WORKING PAPER SERIES RECONCILING POLICY DECISIONS AND DATA OUTCOMES
... policymakers’ views also brings the study of the Great Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study o ...
... policymakers’ views also brings the study of the Great Inflation onto the same footing as the study of other episodes in monetary history. For example, Romer and Romer (2004) observe that examination of the ideas driving policymaking was an important element of Friedman and Schwartz’s (1963) study o ...
What Was the UK GDP Then?
... The objective of this study is to describe the generation of the six series listed in What Was the UK GDP Then? The two basic series are GDP at current prices and GDP at constant prices. Each series is presented not only in level but also in per-capita form. Also shown are the GDP deflator, construe ...
... The objective of this study is to describe the generation of the six series listed in What Was the UK GDP Then? The two basic series are GDP at current prices and GDP at constant prices. Each series is presented not only in level but also in per-capita form. Also shown are the GDP deflator, construe ...
The Safety Trap - The Review of Economic Studies
... of safe assets shrinks relative to demand, a shortage of safe assets develops. The safe interest rate drops and the risk premium rises. This mechanism transfers resources from Knightians to Neutrals, reduces the demand for safe assets, and restores equilibrium in the safe asset market. However, onc ...
... of safe assets shrinks relative to demand, a shortage of safe assets develops. The safe interest rate drops and the risk premium rises. This mechanism transfers resources from Knightians to Neutrals, reduces the demand for safe assets, and restores equilibrium in the safe asset market. However, onc ...
13EXPENDITURE MULTIPLIERS: THE KEYNESIAN MODEL*
... The basic idea and practice. Students need quite a lot of practice using multipliers. One good problem involves working out the effects on consumption as well as GDP of a change in investment (when the price level is fixed). The best way to present this problem to the students seems to be sequential ...
... The basic idea and practice. Students need quite a lot of practice using multipliers. One good problem involves working out the effects on consumption as well as GDP of a change in investment (when the price level is fixed). The best way to present this problem to the students seems to be sequential ...
AGGREGATE DEMAND AND OUTPUT IN THE SHORT RUN
... the conference, particularly their insistence that the defeated Germans make huge compensatory payments (called reparations) to the victorious nations. In his widely read book The Economic Consequences of the Peace (1919), Keynes argued that the reparations imposed on Germany were impossibly large a ...
... the conference, particularly their insistence that the defeated Germans make huge compensatory payments (called reparations) to the victorious nations. In his widely read book The Economic Consequences of the Peace (1919), Keynes argued that the reparations imposed on Germany were impossibly large a ...
Is nominal GDP targeting a suitable tool for ECB monetary policy?
... them to be rather finely balanced. To dig deeper, we consider certain particular features of nominal income targeting: the crucial role of supply side responsiveness (nominal income targeting substitutes for poor responses or a lack of market or structural reform); the need to bring market forces in ...
... them to be rather finely balanced. To dig deeper, we consider certain particular features of nominal income targeting: the crucial role of supply side responsiveness (nominal income targeting substitutes for poor responses or a lack of market or structural reform); the need to bring market forces in ...
CHAPTER 13 | Aggregate Demand and Aggregate Supply Analysis
... variables that cause AD to shift fall into three categories: Changes in government policies. Monetary policy refers to the actions the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives. Fiscal policy refers to changes in federal taxes and p ...
... variables that cause AD to shift fall into three categories: Changes in government policies. Monetary policy refers to the actions the Federal Reserve takes to manage the money supply and interest rates to pursue macroeconomic policy objectives. Fiscal policy refers to changes in federal taxes and p ...
Principles of Macroeconomics
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
OpenStax College
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
Principles of Macroeconomics
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
... San Francisco Bay Area. Guided by the belief that every life has equal value, the Bill & Melinda Gates Foundation works to help all people lead healthy, productive lives. In developing countries, it focuses on improving people’s health with vaccines and other life-saving tools and giving them th ...
Size, Determinants, and Use in Macroeconomic Projections
... miscalculate the amount of adjustment necessary to curb their debt ratio (Eyraud and Weber, 2012, 2013). This could affect the credibility of fiscal consolidation programs. In addition, authorities may engage in repeated rounds of tightening in an effort to make fiscal variables (balance, debt) conv ...
... miscalculate the amount of adjustment necessary to curb their debt ratio (Eyraud and Weber, 2012, 2013). This could affect the credibility of fiscal consolidation programs. In addition, authorities may engage in repeated rounds of tightening in an effort to make fiscal variables (balance, debt) conv ...
Forecasting Short-Term Real GDP Growth in the Euro
... United States, the euro area, Japan, China and several emerging economies. The traditional challenge analysts face when monitoring short-term forecasting for a given country or region in real-time is that important indicators of economic activity, such as quarterly real GDP, are typically released w ...
... United States, the euro area, Japan, China and several emerging economies. The traditional challenge analysts face when monitoring short-term forecasting for a given country or region in real-time is that important indicators of economic activity, such as quarterly real GDP, are typically released w ...
Optimal Government Debt Maturity under Limited Commitment
... example, if households are primarily buying long-term bonds ex-ante, then they appropriately anticipate that the government lacking commitment will pursue future policies which increase future short-term interest rates, thereby diluting their claims. In this case, households require a higher ex-ante ...
... example, if households are primarily buying long-term bonds ex-ante, then they appropriately anticipate that the government lacking commitment will pursue future policies which increase future short-term interest rates, thereby diluting their claims. In this case, households require a higher ex-ante ...
Document
... 3. Use AD-AS diagram to see how the shift changes Y and P in the short run. 4. Use AD-AS diagram to see how economy ...
... 3. Use AD-AS diagram to see how the shift changes Y and P in the short run. 4. Use AD-AS diagram to see how economy ...