21.2 measuring us gdp
... they were produced and during which time they were new goods. Financial Assets ...
... they were produced and during which time they were new goods. Financial Assets ...
14.1 gdp, income, and expenditure
... they were produced and during which time they were new goods. Financial Assets ...
... they were produced and during which time they were new goods. Financial Assets ...
The Evolution of US Monetary Policy: 2000-2007
... in particular, distinguishes between whether the central bank adjusted the strength of its systematic responses to inflation versus output (or unemployment) and whether it deviated from that systematic behavior to a greater or lesser extent. Because it embeds this version of the Taylor Rule within a ...
... in particular, distinguishes between whether the central bank adjusted the strength of its systematic responses to inflation versus output (or unemployment) and whether it deviated from that systematic behavior to a greater or lesser extent. Because it embeds this version of the Taylor Rule within a ...
GDP and the Standard of Living C H A P T E R C H E C K L I S T
... they were produced and during which time they were new goods. Financial Assets When households buy financial assets such as bonds and stocks, they are making loans, not buying goods and services. ...
... they were produced and during which time they were new goods. Financial Assets When households buy financial assets such as bonds and stocks, they are making loans, not buying goods and services. ...
GDP and the Standard of Living C H A P T E R C H E C K L I S T
... they were produced and during which time they were new goods. Financial Assets When households buy financial assets such as bonds and stocks, they are making loans, not buying goods and services. ...
... they were produced and during which time they were new goods. Financial Assets When households buy financial assets such as bonds and stocks, they are making loans, not buying goods and services. ...
NEER WORKING PAPER SERIES THE AMERICAN FISCAL DEFICIT: FACTS AND EFFECTS Herschel Grossman
... latest outcry, however, involves a substantial shift away from the usual claim that budget deficits bear primary responsibility for inflation. With inflation declining rapidly, this indictment ...
... latest outcry, however, involves a substantial shift away from the usual claim that budget deficits bear primary responsibility for inflation. With inflation declining rapidly, this indictment ...
Real Vs. Nominal GDP, Per Capita GDP, & the shortcoming of GDP
... spills, a large GDP is not a good indicator of how we’re doing • In general, the problem with using GDP as a measure of national economic well-being is that GDP is just one number, and no single number can possibly provide us with all of the information we need ...
... spills, a large GDP is not a good indicator of how we’re doing • In general, the problem with using GDP as a measure of national economic well-being is that GDP is just one number, and no single number can possibly provide us with all of the information we need ...
Trade and the Global Recession - The University of Chicago Booth
... often rose. Productivity shocks therefore had little impact on global trade. Increases in a country’s aggregate demand raise spending on consumption of nondurables and services there, leading to higher factor prices, lower exports, higher imports, and higher GDP relative to other countries. Such sho ...
... often rose. Productivity shocks therefore had little impact on global trade. Increases in a country’s aggregate demand raise spending on consumption of nondurables and services there, leading to higher factor prices, lower exports, higher imports, and higher GDP relative to other countries. Such sho ...
NBER WORKING PAPER SERIES DOES STABILIZING INFLATION CONTRIBUTE TO STABILIZING ECONOMIC ACTIVITY?
... in the economy, future inflation will fall below levels consistent with price stability, and the central bank will pursue an expansionary policy to keep inflation from falling. The expansionary policy will then result in an increase in demand that boosts output toward its potential to return inflati ...
... in the economy, future inflation will fall below levels consistent with price stability, and the central bank will pursue an expansionary policy to keep inflation from falling. The expansionary policy will then result in an increase in demand that boosts output toward its potential to return inflati ...
NBER WORKING PAPER SERIES USING MONETARY CONTROL 10 DAMPEN THE
... and recent critiques based on the rational expectations view of macroeconomic behavior. The paper treats supply shocks and institutional rigidities as constraints faced by policymakers. These influence the optimal degree of monetary accommodation of Supply shocks and the choice among alternative pat ...
... and recent critiques based on the rational expectations view of macroeconomic behavior. The paper treats supply shocks and institutional rigidities as constraints faced by policymakers. These influence the optimal degree of monetary accommodation of Supply shocks and the choice among alternative pat ...
How do fiscal shocks affect the macroeconomic
... may enable the fiscal policy to act counter-cyclically if appropriately geared to affect economic activity. This would require forming sufficient buffers in the fiscal balance in favourable times, to enable additional spending in the downswings of the economic cycle. Second, restrictive fiscal polic ...
... may enable the fiscal policy to act counter-cyclically if appropriately geared to affect economic activity. This would require forming sufficient buffers in the fiscal balance in favourable times, to enable additional spending in the downswings of the economic cycle. Second, restrictive fiscal polic ...
The Aggregate Expenditures Model
... • Prices did not fall sufficiently during the Great Depression. • Keynes’ model is based on fixed prices and the adjustment of employment and GDP to economic shocks when prices are inflexible. • We first assume a “closed economy” with no international trade. • Government is ignored. • Although both ...
... • Prices did not fall sufficiently during the Great Depression. • Keynes’ model is based on fixed prices and the adjustment of employment and GDP to economic shocks when prices are inflexible. • We first assume a “closed economy” with no international trade. • Government is ignored. • Although both ...
Fiscal consolidation as a self-fulfilling prophecy on fiscal multipliers
... and within countries. A plausible range of first-year spending multipliers calculated using linear models is in the range of 0.5-0.9. Using a non-linear model results in multiplier estimations exceeding unity during economic recessions. In their meta-analysis Gechert and Will (2012) study 89 article ...
... and within countries. A plausible range of first-year spending multipliers calculated using linear models is in the range of 0.5-0.9. Using a non-linear model results in multiplier estimations exceeding unity during economic recessions. In their meta-analysis Gechert and Will (2012) study 89 article ...
Modeling the Effect of Macroeconomic Factors on Corporate Default
... production?; strength in a composite variable such as the Chicago Federal Reserve's National Activity Index?; the NBER's indicator of recession and expansion? Rather than trying to choose among these possibilities a priori, we begin by grouping candidate variables into three broad classes: those re ...
... production?; strength in a composite variable such as the Chicago Federal Reserve's National Activity Index?; the NBER's indicator of recession and expansion? Rather than trying to choose among these possibilities a priori, we begin by grouping candidate variables into three broad classes: those re ...
Crowding Out and Its Critics
... discussion.5 In particular, Friedman pointed out the necessity of distinguishing between initial and subsequent effects of fiscal actions. According to Friedman, an “expansionary” fiscal action might first be reflected in a rise in output, but the financing of the deficit would set in motion contrac ...
... discussion.5 In particular, Friedman pointed out the necessity of distinguishing between initial and subsequent effects of fiscal actions. According to Friedman, an “expansionary” fiscal action might first be reflected in a rise in output, but the financing of the deficit would set in motion contrac ...
National Tax Journal, September 2010,xx (x), xxx-xxx
... It is worth noting several deficit-increasing measures — tax cuts or spending increases — that we do not include in the extended policy scenario. As previously noted, we do not extend the payroll tax cut beyond the end of 2012. Second, for non-stimulus, non-defense discretionary spending, we note th ...
... It is worth noting several deficit-increasing measures — tax cuts or spending increases — that we do not include in the extended policy scenario. As previously noted, we do not extend the payroll tax cut beyond the end of 2012. Second, for non-stimulus, non-defense discretionary spending, we note th ...
PDF Download
... The assessments of the surveyed companies for the business situation and for the business expectations are poor, on balance, i.e., in minus, the business cycle is in “recession” (lower left quadrant). When the expectation indicator moves into plus territory (with an improving but still on balance po ...
... The assessments of the surveyed companies for the business situation and for the business expectations are poor, on balance, i.e., in minus, the business cycle is in “recession” (lower left quadrant). When the expectation indicator moves into plus territory (with an improving but still on balance po ...
Changing Impact of Fiscal Policy on Selected ASEAN Countries
... In contrast, in the neoclassical model (for example, Baxter and King 1993), higher government spending reduces the lifetime income of households as a result of higher future tax liability. Responding to this, households reduce consumption and work more, raising labor supply and output that partially ...
... In contrast, in the neoclassical model (for example, Baxter and King 1993), higher government spending reduces the lifetime income of households as a result of higher future tax liability. Responding to this, households reduce consumption and work more, raising labor supply and output that partially ...
The macroeconomic effects of fiscal policy in Spain
... 2.1 The data The baseline VAR includes quarterly data on real public expenditure (Gt), net taxes (Tt), real GDP, GDP deflator (Pt) and the three-month interest rate (Rt). As Fatás and Mihov point out, “these five variables are the minimal set of macroeconomic variables necessary for the study of the ...
... 2.1 The data The baseline VAR includes quarterly data on real public expenditure (Gt), net taxes (Tt), real GDP, GDP deflator (Pt) and the three-month interest rate (Rt). As Fatás and Mihov point out, “these five variables are the minimal set of macroeconomic variables necessary for the study of the ...
Parkin-Bade Chapter 22
... curve starts to shift leftward. The price level continues to rise and real GDP continues to decrease until it equals potential GDP. ...
... curve starts to shift leftward. The price level continues to rise and real GDP continues to decrease until it equals potential GDP. ...
Real Fluctuations at the Zero Lower Bound
... bound, the policy rule in Equation (3) responds exactly as a simple Taylor (1993)-type policy rule. At the zero lower bound, however, the central bank continues to respond to the state of the economy by adjusting its future path of desired policy rates. By including smoothing in the desired nominal ...
... bound, the policy rule in Equation (3) responds exactly as a simple Taylor (1993)-type policy rule. At the zero lower bound, however, the central bank continues to respond to the state of the economy by adjusting its future path of desired policy rates. By including smoothing in the desired nominal ...
Mankiw 5/e Chapter 2: The Data of Macroeconomics
... In essence, “chain-weighted Real GDP” updates the base year every year. ...
... In essence, “chain-weighted Real GDP” updates the base year every year. ...
PDF - Centre for International Governance Innovation
... Heller and Setser (forthcoming 2016); Gitlin and House (2014); Guzman and Stiglitz (2015; forthcoming 2016); International Capital Market Association (2014); IMF (2014); Mooney (2015); Ocampo (forthcoming 2016); Raffer (forthcoming 2016) and Schwarcz (2015), among many other papers that point in the ...
... Heller and Setser (forthcoming 2016); Gitlin and House (2014); Guzman and Stiglitz (2015; forthcoming 2016); International Capital Market Association (2014); IMF (2014); Mooney (2015); Ocampo (forthcoming 2016); Raffer (forthcoming 2016) and Schwarcz (2015), among many other papers that point in the ...
Activator – GDP Chapter 12
... (6 straight months) Rise in unemployment, falling profits, bankruptcies, foreclosures, etc. ...
... (6 straight months) Rise in unemployment, falling profits, bankruptcies, foreclosures, etc. ...