NBER Reporter Program Report
... range of applications offered with little or no direct charge is challenging because there is no reliable monetary yardstick to guide measurement, and their omission or undervaluation surely affects GDP. This is important for the recent debate over future living standards and employment. The two per ...
... range of applications offered with little or no direct charge is challenging because there is no reliable monetary yardstick to guide measurement, and their omission or undervaluation surely affects GDP. This is important for the recent debate over future living standards and employment. The two per ...
Exploring the Dynamics of Global Liquidity
... focuses on the funding available to expand financial institutions’ balance sheets and the risks associated with sudden funding reversals, as manifested during the global financial crisis. Put differently, “liquidity” as measured here, is the degree to which institutions can borrow—as measured by the ...
... focuses on the funding available to expand financial institutions’ balance sheets and the risks associated with sudden funding reversals, as manifested during the global financial crisis. Put differently, “liquidity” as measured here, is the degree to which institutions can borrow—as measured by the ...
What the Government Purchases Multiplier Actually Multiplied in the
... government purchases has occurred mainly at the federal level. While states and localities received substantial grants under ARRA, state and local governments have not increased their purchases of goods and services. Instead they reduced borrowing and increased transfer payments. These findings expl ...
... government purchases has occurred mainly at the federal level. While states and localities received substantial grants under ARRA, state and local governments have not increased their purchases of goods and services. Instead they reduced borrowing and increased transfer payments. These findings expl ...
Working PaPer SerieS ToWardS eXPendiTUre rULeS and FiScaL
... over 10 pp of GDP lower in certain countries if expenditure policies had been neutral during EMU.1 It is important to note that - for the euro area excluding Germany - more than half of the spending above that implied by neutral policy rules already accumulates in the pre-crisis period up to 2007. ...
... over 10 pp of GDP lower in certain countries if expenditure policies had been neutral during EMU.1 It is important to note that - for the euro area excluding Germany - more than half of the spending above that implied by neutral policy rules already accumulates in the pre-crisis period up to 2007. ...
28 EXPENDITURE MULTIPLIERS**
... more than $600 billion went toward poor and middle-class tax cuts, safety net spending (more unemployment assistance and food stamps), and aid to state governments with budget shortfalls. These are the most directly simulative parts of the bill, bolstering demand and preventing lay-offs—and stimulat ...
... more than $600 billion went toward poor and middle-class tax cuts, safety net spending (more unemployment assistance and food stamps), and aid to state governments with budget shortfalls. These are the most directly simulative parts of the bill, bolstering demand and preventing lay-offs—and stimulat ...
Aggregate Demand and Supply Aggregate Demand and
... Classical View of Aggregate Supply Prior to the Great Depression, a group of economists known as the classical economists dominated economic thinking. The founder of the classical school of economics was Adam Smith. Exhibit 5 uses the aggregate demand and supply model to illustrate the classical vie ...
... Classical View of Aggregate Supply Prior to the Great Depression, a group of economists known as the classical economists dominated economic thinking. The founder of the classical school of economics was Adam Smith. Exhibit 5 uses the aggregate demand and supply model to illustrate the classical vie ...
Fiscal multipliers and beyond - ECB
... the size of fiscal multipliers. As such, there is no “single” short-term fiscal multiplier: multipliers may be larger in times of deep recession or financial crises, but they tend to be smaller when fiscal positions are precarious. Against this background, the paper presents a stylised analysis of t ...
... the size of fiscal multipliers. As such, there is no “single” short-term fiscal multiplier: multipliers may be larger in times of deep recession or financial crises, but they tend to be smaller when fiscal positions are precarious. Against this background, the paper presents a stylised analysis of t ...
Fiscal sustainability report
... underlying age-specific spending on public services, such as health and education, rises with per capita GDP. As detailed spending plans are only available to 2015-16, we have to make an assumption about the composition of spending on public services in 2019-20: our central projection assumes that a ...
... underlying age-specific spending on public services, such as health and education, rises with per capita GDP. As detailed spending plans are only available to 2015-16, we have to make an assumption about the composition of spending on public services in 2019-20: our central projection assumes that a ...
NBER WORKING PAPER SERIES WHAT THE GOVERNMENT PURCHASES MULTIPLIER ACTUALLY MULTIPLIED
... Reinvestment Act (ARRA) of 2009. This increase in government purchases has occurred mainly at the federal level. While states and localities received substantial grants under ARRA, state and local governments have not increased their purchases of goods and services. Instead they reduced borrowing an ...
... Reinvestment Act (ARRA) of 2009. This increase in government purchases has occurred mainly at the federal level. While states and localities received substantial grants under ARRA, state and local governments have not increased their purchases of goods and services. Instead they reduced borrowing an ...
Macro CH 30 sample questions
... ____ 14. Induced expenditure includes a. consumption expenditures, government expenditures on goods and services, and imports. b. investment, consumption expenditures, and exports. c. consumption expenditures and imports. d. consumption expenditures and exports. e. consumption expenditures and gover ...
... ____ 14. Induced expenditure includes a. consumption expenditures, government expenditures on goods and services, and imports. b. investment, consumption expenditures, and exports. c. consumption expenditures and imports. d. consumption expenditures and exports. e. consumption expenditures and gover ...
1 Principles of Macroeconomics, 9e
... B) not counted in GDP because it is not assumed to flow from the production of goods and services. C) not counted in GDP but is counted in GNP because it is paid by U.S. citizens to people living in the United States. D) included in both GDP and GNP because it represents an expenditure by one group ...
... B) not counted in GDP because it is not assumed to flow from the production of goods and services. C) not counted in GDP but is counted in GNP because it is paid by U.S. citizens to people living in the United States. D) included in both GDP and GNP because it represents an expenditure by one group ...
NBER WORKING PAPER ROLE OF CONSUMPTION IN ECONOMIC FLUCTUATIONS Robert E. Hall
... function are estimated to be smaller in this case, but their contribution to movements in GNP is larger because the multiplier is larger. ...
... function are estimated to be smaller in this case, but their contribution to movements in GNP is larger because the multiplier is larger. ...
Aggregate Demand and Aggregate Supply Analysis
... a point below full-employment real GDP, wages and prices will fall and the short-run aggregate supply curve will shift to the right until full employment is restored. If short-run equilibrium occurs at a point beyond full-employment real GDP, wages and prices will rise and the short-run aggregate su ...
... a point below full-employment real GDP, wages and prices will fall and the short-run aggregate supply curve will shift to the right until full employment is restored. If short-run equilibrium occurs at a point beyond full-employment real GDP, wages and prices will rise and the short-run aggregate su ...
ECB
... A monetary policy that has little room for manoeuvre – something that is often seen during recessions and financial crises – may lead to larger fiscal multipliers, as interest rates do not react (or react only weakly) to declines in aggregate demand. In DSGE model-based analyses, the zero lower boun ...
... A monetary policy that has little room for manoeuvre – something that is often seen during recessions and financial crises – may lead to larger fiscal multipliers, as interest rates do not react (or react only weakly) to declines in aggregate demand. In DSGE model-based analyses, the zero lower boun ...
1. Introduction to Macroeconomics
... This means that a choice has to be made: How much environment shall be sacrificed in order to increase per capita income? The answer to such type of questions depends on „how desirable“ an aim like “income growth” is compared to an aim like “environmental protection”. This leads to the second type o ...
... This means that a choice has to be made: How much environment shall be sacrificed in order to increase per capita income? The answer to such type of questions depends on „how desirable“ an aim like “income growth” is compared to an aim like “environmental protection”. This leads to the second type o ...
triple crises - UNCTAD Paragraph 166 Course
... Economic growth has been accompanied by some improvements in LDCs macroeconomic fundamentals (esp. lower inflation, better business environment). In most cases, however, growth contributed only weakly to the development of LDCs’ productive capacities. ...
... Economic growth has been accompanied by some improvements in LDCs macroeconomic fundamentals (esp. lower inflation, better business environment). In most cases, however, growth contributed only weakly to the development of LDCs’ productive capacities. ...
Chapter 1: Introduction
... potential output) and changes in the unemployment rate makes Okun’s law one of the strongest and most reliable of macroeconomic relationships. It means that we can talk about fluctuations in unemployment and know that we are also talking about fluctuations in real GDP relative to potential output. I ...
... potential output) and changes in the unemployment rate makes Okun’s law one of the strongest and most reliable of macroeconomic relationships. It means that we can talk about fluctuations in unemployment and know that we are also talking about fluctuations in real GDP relative to potential output. I ...
Working papers - Federal Reserve Bank of Cleveland
... algorithm and applying it to U.S. data suggests that the United States faced two bouts of stagflation in the postwar era, 1974Q3–1975Q1 and 1980Q2–1980Q3. The stagflation algorithm allows for a more exhaustive analysis of the factors that can generate stagflation than visual analysis alone. Thus, we ...
... algorithm and applying it to U.S. data suggests that the United States faced two bouts of stagflation in the postwar era, 1974Q3–1975Q1 and 1980Q2–1980Q3. The stagflation algorithm allows for a more exhaustive analysis of the factors that can generate stagflation than visual analysis alone. Thus, we ...
26 Expenditure Multipliers.tst
... 49) The marginal propensity to import is equal to ________. A) the change in net imports divided by the change in disposable income, other things remaining the same B) 1 - MPC C) the change in imports divided by the change in real GDP that brought it about, other things remaining the same D) dispos ...
... 49) The marginal propensity to import is equal to ________. A) the change in net imports divided by the change in disposable income, other things remaining the same B) 1 - MPC C) the change in imports divided by the change in real GDP that brought it about, other things remaining the same D) dispos ...
Crisis and consolidation in the public finances
... 2018-19, the Coalition Government is planning to replace the 2.6 per cent of GDP budget deficit that Labour ran in in 2007-08 with a 0.2 per cent of GDP surplus, to spend 1.2 per cent of GDP more on welfare, 1.6 per cent of GDP more on debt interest and 0.4 per cent of GDP more on other annually man ...
... 2018-19, the Coalition Government is planning to replace the 2.6 per cent of GDP budget deficit that Labour ran in in 2007-08 with a 0.2 per cent of GDP surplus, to spend 1.2 per cent of GDP more on welfare, 1.6 per cent of GDP more on debt interest and 0.4 per cent of GDP more on other annually man ...
THE CYCLICAL CONDUCT OF ESTONIAN FISCAL POLICY
... Estonian macroeconomic policy performance is often criticized by academics and various economic organizations as being procyclical, but without providing the empirical analysis that led to such a result. Most commonly, procyclicality in Estonian fiscal policy is associated with only modest surpluses ...
... Estonian macroeconomic policy performance is often criticized by academics and various economic organizations as being procyclical, but without providing the empirical analysis that led to such a result. Most commonly, procyclicality in Estonian fiscal policy is associated with only modest surpluses ...
Chapter 12: Aggregate Demand and Aggregate Supply Analysis
... macroeconomic policy objectives. Fiscal policy (FP): Changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. Gov uses monetary and …scal policies to shift the AD curve. Lower IRs lower the cost to …rms and HHs of borrowing. Lower borrowing costs increase ...
... macroeconomic policy objectives. Fiscal policy (FP): Changes in federal taxes and purchases that are intended to achieve macroeconomic policy objectives. Gov uses monetary and …scal policies to shift the AD curve. Lower IRs lower the cost to …rms and HHs of borrowing. Lower borrowing costs increase ...
Investment a Major Driver, Except in Countries Plagued by
... Countries in the Western Balkans also picked up speed in 2015 and will thus maintain positive growth rates in 2016 and beyond. They will grow at an average rate of 3%, except for Serbia where growth will be depressed on account of stabilisation. However unimpressive it may be compared to their need ...
... Countries in the Western Balkans also picked up speed in 2015 and will thus maintain positive growth rates in 2016 and beyond. They will grow at an average rate of 3%, except for Serbia where growth will be depressed on account of stabilisation. However unimpressive it may be compared to their need ...
Principles of Macroeconomics for AP® Courses
... 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 ...