CHAPTER 7: Long-Run and Short
... b. The labor force in the United States is almost completely mobile, with workers taking advantage of job opportunities clear across the country. c. A low national rate of unemployment does not mean that the entire nation is growing and producing at the same rate. d. All of the above. ...
... b. The labor force in the United States is almost completely mobile, with workers taking advantage of job opportunities clear across the country. c. A low national rate of unemployment does not mean that the entire nation is growing and producing at the same rate. d. All of the above. ...
NBER WORKING PAPER SERIES DEBT RELIEF AND FISCAL SUSTAINABILITY Sebastian Edwards 8939
... explicitly considers the role of domestic debt in analyzing fiscal sustainability. Second, I consider the case where the country’s access to subsidized debt declines gradually through time. This is an important assumption, and is based on the notion that after reaching a certain GDP per capita, coun ...
... explicitly considers the role of domestic debt in analyzing fiscal sustainability. Second, I consider the case where the country’s access to subsidized debt declines gradually through time. This is an important assumption, and is based on the notion that after reaching a certain GDP per capita, coun ...
Fiscal Policy as a Tool for Stabilization in Developing Countries
... inefficiencies and waste in the selection and implementation of infrastructure projects (Pritchett 2000). The disconnect between spending and asset accumulation is particularly acute when governance and fiscal institutions are weak, as is the case in many developing countries (Keefer and Knack 2007 ...
... inefficiencies and waste in the selection and implementation of infrastructure projects (Pritchett 2000). The disconnect between spending and asset accumulation is particularly acute when governance and fiscal institutions are weak, as is the case in many developing countries (Keefer and Knack 2007 ...
Agustín S. Bénétrix IIIS, Trinity College Dublin Philip R. Lane
... values of a dummy variable that measures fiscal shocks in their empirical model. They show that anticipation effects are not important in the United States. Studies suggesting the existence of anticipation effects find that fiscal policy may be anticipated one or two quarters in advance. Using a new ...
... values of a dummy variable that measures fiscal shocks in their empirical model. They show that anticipation effects are not important in the United States. Studies suggesting the existence of anticipation effects find that fiscal policy may be anticipated one or two quarters in advance. Using a new ...
Output Loss from the Banking Crisis in Cyprus† 1. Introduction
... both the level and growth rate of real GDP methods (Angkinand 2008; Bordo et al. 2001; Boyd et al. 2005; IMF 1998), described as follows. • When the growth rate is used, output loss is measured by the sum of the differences between actual and potential GDP growth over the crisis period, with the end ...
... both the level and growth rate of real GDP methods (Angkinand 2008; Bordo et al. 2001; Boyd et al. 2005; IMF 1998), described as follows. • When the growth rate is used, output loss is measured by the sum of the differences between actual and potential GDP growth over the crisis period, with the end ...
GREECE 2013 ARTICLE IV CONSULTATION
... has reduced the competitiveness gap by about half since 2010. And financial stability has been preserved, notwithstanding public debt restructuring and the recession. This progress has been facilitated by considerable European and international support. But Greece is adjusting mainly through recessi ...
... has reduced the competitiveness gap by about half since 2010. And financial stability has been preserved, notwithstanding public debt restructuring and the recession. This progress has been facilitated by considerable European and international support. But Greece is adjusting mainly through recessi ...
Working Paper no 15/2005 Title: A bottom
... For unemployment benefits and social welfare payments, the aim of the method is to capture the expenditure impact of changes in replacement rates – understood as the difference between the actual average increase in transfer incomes per recipient and the increase in private sector wages. Hence, chan ...
... For unemployment benefits and social welfare payments, the aim of the method is to capture the expenditure impact of changes in replacement rates – understood as the difference between the actual average increase in transfer incomes per recipient and the increase in private sector wages. Hence, chan ...
2015/1 An analysis of the Okun`s law for the Spanish provinces
... The strong impact of business cycles on unemployment is a Spanish particular feature. The high increase in unemployment during the current economic downturn is a clear example of this great variability of the unemployment rate. Since 2008 and in just six years the unemployment rate has more than tri ...
... The strong impact of business cycles on unemployment is a Spanish particular feature. The high increase in unemployment during the current economic downturn is a clear example of this great variability of the unemployment rate. Since 2008 and in just six years the unemployment rate has more than tri ...
Foundations of Economics, 3e (Bade/Parkin)
... 2) What is the NBER's definition of recession? Discuss the relationship between the phases of the business cycle, real GDP and unemployment in the context of the United States economy from 1992 to the present. Answer: The NBER defines a recession as a period of significant decline in total output, i ...
... 2) What is the NBER's definition of recession? Discuss the relationship between the phases of the business cycle, real GDP and unemployment in the context of the United States economy from 1992 to the present. Answer: The NBER defines a recession as a period of significant decline in total output, i ...
Introduction - Nevada Subcontractors Association
... Impacts of the Federal Government Shutdown The Research and Analysis Bureau in Nevada’s Department of Employment, Training & Rehabilitation partners with the U.S. Department of Labor to oversee the State’s labor market information program. As a result of the Federal government shutdown, primary lab ...
... Impacts of the Federal Government Shutdown The Research and Analysis Bureau in Nevada’s Department of Employment, Training & Rehabilitation partners with the U.S. Department of Labor to oversee the State’s labor market information program. As a result of the Federal government shutdown, primary lab ...
A Practical Guide to Public Debt Dynamics, Fiscal
... liabilities are the result of above-the-line budgetary operations. This means that the debt path is determined by the path of overall fiscal balances (or primary balances and interest bill). In particular, the formulas abstract from the use of privatization proceeds; off-budget operations; gains and ...
... liabilities are the result of above-the-line budgetary operations. This means that the debt path is determined by the path of overall fiscal balances (or primary balances and interest bill). In particular, the formulas abstract from the use of privatization proceeds; off-budget operations; gains and ...
lost decade
... components of GDP (private fixed investment, government fixed investment, and inventory investment) were all negative during the 1991-2003 period even though they were all positive and inventory investment and private fixed investment ranked first and second, respectively, during the 1980-91 period. ...
... components of GDP (private fixed investment, government fixed investment, and inventory investment) were all negative during the 1991-2003 period even though they were all positive and inventory investment and private fixed investment ranked first and second, respectively, during the 1980-91 period. ...
In D R flue Dev Rele enc velo evan cing opm nt F g Re men Fac ece
... care expenditures. As a result, the indicator of long-term sustainability calculated by the Commission shows that Italy’s debt is the most sustainable over the long term among the EU countries. Long term projections of age-related expenditures show that long term sustainability is fully preserved ev ...
... care expenditures. As a result, the indicator of long-term sustainability calculated by the Commission shows that Italy’s debt is the most sustainable over the long term among the EU countries. Long term projections of age-related expenditures show that long term sustainability is fully preserved ev ...
Nominal GDP Targeting Rules: Can They Stabilize the Economy?
... nominal GDP and, as a result, reduce forecasted nominal GDP growth. Policymakers would raise the interest rate enough that, based on the higher rate, the forecast for future growth of nominal GDP equals the targeted rate.13 Conversely, if forecasts indicate nominal GDP growth next year will be below ...
... nominal GDP and, as a result, reduce forecasted nominal GDP growth. Policymakers would raise the interest rate enough that, based on the higher rate, the forecast for future growth of nominal GDP equals the targeted rate.13 Conversely, if forecasts indicate nominal GDP growth next year will be below ...
An analysis of Okun`s law for the Spanish provinces
... until 1991, when a generalised recession affected the Spanish economy. The cycle change came again in 1995 when labour law reforms favoured wage moderation and boosted temporary jobs. Low interest rates following the adoption of the Euro fuelled housing and promoted economic growth; convergence wit ...
... until 1991, when a generalised recession affected the Spanish economy. The cycle change came again in 1995 when labour law reforms favoured wage moderation and boosted temporary jobs. Low interest rates following the adoption of the Euro fuelled housing and promoted economic growth; convergence wit ...
Lecture 12
... the goods and services that firms buy from each other and use as inputs in the goods and services they eventually sell to final users. The way a good is counted depends on its use. Ice cream sold to you is a final good, while ice cream sold to a restaurant is an intermediate good. ...
... the goods and services that firms buy from each other and use as inputs in the goods and services they eventually sell to final users. The way a good is counted depends on its use. Ice cream sold to you is a final good, while ice cream sold to a restaurant is an intermediate good. ...
Estimate of Potential Gross Domestic Product Using the Production
... The motive underlying this research is the need to model the Croatian economy’s supply side and the need to forecast GDP values for increasingly longer periods. There is also a better ...
... The motive underlying this research is the need to model the Croatian economy’s supply side and the need to forecast GDP values for increasingly longer periods. There is also a better ...
Measuring the Natural Rate of Interest Redux
... core inflation remaining surprisingly stable in the face of sharp declines of real GDP below the trend implied by the pre-crisis trend growth rate of around 3 percent, the model assigned some of the unexpected output declines to the output gap, but also a large share to declines in potential output ...
... core inflation remaining surprisingly stable in the face of sharp declines of real GDP below the trend implied by the pre-crisis trend growth rate of around 3 percent, the model assigned some of the unexpected output declines to the output gap, but also a large share to declines in potential output ...
7 The Anatomy of Inflation and Unemployment
... jobs. Discouraged workerspeople who would like jobs but have given up looking for themare not considered a part of the labor force, and thus, technically, are not unemployed. It is also important to understand how the aggregate, or overall, rate of unemployment is formed. Because the labor force i ...
... jobs. Discouraged workerspeople who would like jobs but have given up looking for themare not considered a part of the labor force, and thus, technically, are not unemployed. It is also important to understand how the aggregate, or overall, rate of unemployment is formed. Because the labor force i ...
Solutions for all Economics Grade 12 Learner`s Book
... to support teaching and learning in the Economics classroom by presenting the material to be taught and practised in the classroom in 30-60 minute lessons. In each lesson the learners will: • Establish what they already know about a topic • Learn new facts about a topic • Practise using the new k ...
... to support teaching and learning in the Economics classroom by presenting the material to be taught and practised in the classroom in 30-60 minute lessons. In each lesson the learners will: • Establish what they already know about a topic • Learn new facts about a topic • Practise using the new k ...
In D R flue Dev Rele enc velo evan cing opm nt F g Re men Fac ece
... care expenditures. As a result, the indicator of long-term sustainability calculated by the Commission shows that Italy’s debt is the most sustainable over the long term among the EU countries. Long term projections of age-related expenditures show that long term sustainability is fully preserved ev ...
... care expenditures. As a result, the indicator of long-term sustainability calculated by the Commission shows that Italy’s debt is the most sustainable over the long term among the EU countries. Long term projections of age-related expenditures show that long term sustainability is fully preserved ev ...
EN EN 1. Introduction Due to general elections, which took place on
... The Commisison's forecast points to a general government deficit estimated at 2.8% of GDP for 2014, slightly exceeding the forecast of the updated DBP. The Commission's forecast takes into account a budgetary impact of financial sector measures which is broadly the same as the updated DBP, and takes ...
... The Commisison's forecast points to a general government deficit estimated at 2.8% of GDP for 2014, slightly exceeding the forecast of the updated DBP. The Commission's forecast takes into account a budgetary impact of financial sector measures which is broadly the same as the updated DBP, and takes ...
Fiscal Multipliers: Lessons from the Great Recession for Small Open
... ing crises. Variations in these dimensions are accounted for by dummy variables based on, respectively, official/de facto classifications of exchange rate regimes; chronologies of crises available in the literature; threshold values for the size of debt and deficits—all subject to extensive robustne ...
... ing crises. Variations in these dimensions are accounted for by dummy variables based on, respectively, official/de facto classifications of exchange rate regimes; chronologies of crises available in the literature; threshold values for the size of debt and deficits—all subject to extensive robustne ...
UK BUSINESS CONFIDENCE MONITOR Q1 2009
... output since 1980. This is not the first time we have experienced recession; however, the globalised nature of business today combined with our recent reliance on the now fraught Financial Services sector as the driver of our economic prosperity gives previously unseen dimensions to the situation. S ...
... output since 1980. This is not the first time we have experienced recession; however, the globalised nature of business today combined with our recent reliance on the now fraught Financial Services sector as the driver of our economic prosperity gives previously unseen dimensions to the situation. S ...
The Adverse Effects of Government Spending in New Keynesian
... caused by an increase in labour supply, which in turn requires consumption to fall in order to occur (Baxter and King, 1993). Thus the predictions by the representative agent model seem at odds with empirical evidence. An induced rise in consumption is a typical Keynesian feature, so one should expe ...
... caused by an increase in labour supply, which in turn requires consumption to fall in order to occur (Baxter and King, 1993). Thus the predictions by the representative agent model seem at odds with empirical evidence. An induced rise in consumption is a typical Keynesian feature, so one should expe ...