Chapter 9: Introduction to Business Cycles
... output (but not the level of prices)--in the short run. In the long run prices are flexible, and so shifts in policy or the environment that affect the total flow of nominal spending affect the level of prices (but not the level of production)--in the long run. But when does the "long run" arrive? D ...
... output (but not the level of prices)--in the short run. In the long run prices are flexible, and so shifts in policy or the environment that affect the total flow of nominal spending affect the level of prices (but not the level of production)--in the long run. But when does the "long run" arrive? D ...
Home Price Declines - Television Bureau of Advertising :: TVB Online
... The World Is Ignoring The U.S. Sniffles • World growth remains solid • Slower growth in the US and Europe is offset by stronger growth ...
... The World Is Ignoring The U.S. Sniffles • World growth remains solid • Slower growth in the US and Europe is offset by stronger growth ...
Chained-Dollar Indexes Issues, Tips on Their Use, and Upcoming Changes
... EA’s introduction of chain-weighted indexes in 1996 significantly improved the accuracy of the U.S. estimates of the growth in real gross domestic product (GDP) and prices. These indexes use up-todate weights in order to provide a more accurate picture of the economy, to better capture changes in sp ...
... EA’s introduction of chain-weighted indexes in 1996 significantly improved the accuracy of the U.S. estimates of the growth in real gross domestic product (GDP) and prices. These indexes use up-todate weights in order to provide a more accurate picture of the economy, to better capture changes in sp ...
In Search of Potential GDP
... and targeted immigration policies) we employ baseline, upside and downside scenarios for the labor force to working age population ratio. In the baseline scenario, the ratio for the extrapolated 10-year average normalizes around 81.6%. In the downside scenario, it continues to decline to an average ...
... and targeted immigration policies) we employ baseline, upside and downside scenarios for the labor force to working age population ratio. In the baseline scenario, the ratio for the extrapolated 10-year average normalizes around 81.6%. In the downside scenario, it continues to decline to an average ...
NBER WORKING PAPER SERIES A JOBLESS RECOVERY
... inundated by liquidity, a fall in interest rates has no longer a stimulating effect on aggregate demand. The experience of Japan in the past two decades as well as the recent economic performance of the United States and other developed countries seems to suggest that zero nominal interest rates ar ...
... inundated by liquidity, a fall in interest rates has no longer a stimulating effect on aggregate demand. The experience of Japan in the past two decades as well as the recent economic performance of the United States and other developed countries seems to suggest that zero nominal interest rates ar ...
GDP
... GDP per capita (i.e. GDP divided by population) is often used to represent differences in standards of living from country to country. However, even if it accurately measured total production, it would not reflect: • The value of leisure • Pollution and other negative effects of production • Crime a ...
... GDP per capita (i.e. GDP divided by population) is often used to represent differences in standards of living from country to country. However, even if it accurately measured total production, it would not reflect: • The value of leisure • Pollution and other negative effects of production • Crime a ...
Chapter 17 - Aggregate Demand and Aggregate Supply
... Depression—than it did at any other time What do we know about demand shocks that caused Great Depression? Fall of 1929, bubble of optimism burst Stock market crashed, and investment and consumption ...
... Depression—than it did at any other time What do we know about demand shocks that caused Great Depression? Fall of 1929, bubble of optimism burst Stock market crashed, and investment and consumption ...
Gross Domestic Product - U of L Personal Web Sites
... Firms in Canada sell goods and services to the rest of the world—exports—and buy goods and services from the rest of the world—imports. The value of exports (X ) minus the value of imports (M) is called net exports, the red flow X – M. If net exports are positive, the net flow of goods and services ...
... Firms in Canada sell goods and services to the rest of the world—exports—and buy goods and services from the rest of the world—imports. The value of exports (X ) minus the value of imports (M) is called net exports, the red flow X – M. If net exports are positive, the net flow of goods and services ...
Gross Domestic Product
... excludes much that is valuable, and includes much that is really unwanted. Most alarmingly, GDP does not subtract the annoyance that you suffer from your long hours of work, or the loneliness of your children. If your health deteriorates, but you stay on the job, GDP will also increase because someo ...
... excludes much that is valuable, and includes much that is really unwanted. Most alarmingly, GDP does not subtract the annoyance that you suffer from your long hours of work, or the loneliness of your children. If your health deteriorates, but you stay on the job, GDP will also increase because someo ...
Entrepreneurship and the Business Cycle
... Similar to that of Bernanke and Gertler, the model by Carlstrom and Fuerst also does not focus on entrepreneurship per se and assumes that the potential share of entrepreneurs in a population is a constant that does not fluctuate with the cycle. However, due to simplifying assumptions, they end up w ...
... Similar to that of Bernanke and Gertler, the model by Carlstrom and Fuerst also does not focus on entrepreneurship per se and assumes that the potential share of entrepreneurs in a population is a constant that does not fluctuate with the cycle. However, due to simplifying assumptions, they end up w ...
L7-9InstrumentsMABP
... – In which case it is a rightward shift of the LM curve – Which itself slopes up (because money demand depends negatively in i and positively on Y). E.g., Quantitative Easing sets MB. ITF-220, Prof.J.Frankel ...
... – In which case it is a rightward shift of the LM curve – Which itself slopes up (because money demand depends negatively in i and positively on Y). E.g., Quantitative Easing sets MB. ITF-220, Prof.J.Frankel ...
Document
... Imagine that in 2010 the economy is in long-run equilibrium. Then stock prices rise more than expected and stay high for some time. 27. Refer to Stock Market Boom 2010. Which curve shifts and in which direction? a. aggregate demand shifts right b. aggregate demand shifts left c. aggregate supply shi ...
... Imagine that in 2010 the economy is in long-run equilibrium. Then stock prices rise more than expected and stay high for some time. 27. Refer to Stock Market Boom 2010. Which curve shifts and in which direction? a. aggregate demand shifts right b. aggregate demand shifts left c. aggregate supply shi ...
Practice Exam - Dasha Safonova
... 28. In April 2008 the price of oil was approximately $130 per barrel; in April 2015, it was approximately $40 per barrel. This change in the price of oil could have started (a) ...
... 28. In April 2008 the price of oil was approximately $130 per barrel; in April 2015, it was approximately $40 per barrel. This change in the price of oil could have started (a) ...
Income and Expenditure
... A great way to explain the multiplier process is with a numerical example, such as the one outlined in the text. By carrying out the calculations of the additional consumer spending rounds arising from an initial increase in investment spending, students will have a better understanding of the multi ...
... A great way to explain the multiplier process is with a numerical example, such as the one outlined in the text. By carrying out the calculations of the additional consumer spending rounds arising from an initial increase in investment spending, students will have a better understanding of the multi ...
The Impact of the 2008 Tax Rebates on Consumer Spending
... Between May and July of this year, the U.S. Federal Government has distributed more than 90 billion dollars worth of economic stimulus payments, or tax rebates, to American households. Despite much recent concern that households would save the money, we find that households are doing a significant a ...
... Between May and July of this year, the U.S. Federal Government has distributed more than 90 billion dollars worth of economic stimulus payments, or tax rebates, to American households. Despite much recent concern that households would save the money, we find that households are doing a significant a ...
MERCATUS GRADUATE POLICY ESSAY
... However, since empirical evidence proves that economic policy can itself confer negative costs onto societies, the effectiveness of monetary and fiscal policies is often questioned. Of crucial importance today, increasing public and private debt levels pose huge challenges for policy implementation. ...
... However, since empirical evidence proves that economic policy can itself confer negative costs onto societies, the effectiveness of monetary and fiscal policies is often questioned. Of crucial importance today, increasing public and private debt levels pose huge challenges for policy implementation. ...
chapter summary
... policies are mostly anticipated by the public, and therefore have less effect than unexpected policies. The passive approach suggests that the government should follow clear and predictable policies and avoid discretionary intervention to stimulate or dampen aggregate demand over the business cycle. ...
... policies are mostly anticipated by the public, and therefore have less effect than unexpected policies. The passive approach suggests that the government should follow clear and predictable policies and avoid discretionary intervention to stimulate or dampen aggregate demand over the business cycle. ...
Successful Austerity in the United States, Europe and Japan
... With the U.S., Europe’s and Japan’s public debt at historic levels, concerns are rising over the growth impact of needed fiscal adjustment. The severe recession, the significant capital interventions in the financial markets and the fiscal stimulus measures have pushed up the joint public debt to le ...
... With the U.S., Europe’s and Japan’s public debt at historic levels, concerns are rising over the growth impact of needed fiscal adjustment. The severe recession, the significant capital interventions in the financial markets and the fiscal stimulus measures have pushed up the joint public debt to le ...
This PDF is a selection from a published volume from... Bureau of Economic Research Volume Title: NBER International Seminar on Macroeconomics
... only through the surplus ft ¼ τt gt , I follow Dai and Philippon (2006) and calculate the structural “surplus shocks” by using η f ;q ¼ ητ;q η g;q and so forth. To provide some additional information on properties of the VAR, below I also report impulse response functions to a “monetary policy s ...
... only through the surplus ft ¼ τt gt , I follow Dai and Philippon (2006) and calculate the structural “surplus shocks” by using η f ;q ¼ ητ;q η g;q and so forth. To provide some additional information on properties of the VAR, below I also report impulse response functions to a “monetary policy s ...
Fiscal Policy in the Global Financial and Economic Crisis First, I
... have been changes that were neither discretionary nor the automatic stabilisers. One example might be pensions. There are two ways of separating these two, neither of which are perfect. The first way is to examine budgets for fiscal policy changes in response to the crisis. In our June, 2009 Economi ...
... have been changes that were neither discretionary nor the automatic stabilisers. One example might be pensions. There are two ways of separating these two, neither of which are perfect. The first way is to examine budgets for fiscal policy changes in response to the crisis. In our June, 2009 Economi ...
AP Review wk 4
... • We said earlier that the economy is self-correcting in the long-run – Most macroeconomists believe, however, that the process takes a decade or more. – During recessions, the economy can suffer an extended period of depressed aggregate output and high unemployment before it returns to normal. ...
... • We said earlier that the economy is self-correcting in the long-run – Most macroeconomists believe, however, that the process takes a decade or more. – During recessions, the economy can suffer an extended period of depressed aggregate output and high unemployment before it returns to normal. ...
The Effects of Labor and Product Market Reforms
... 0.6 and 0.3 percent, respectively, while no significant average impact of major reforms of employment protection legislation for regular workers could be identified. Second, reforms typically take time to pay off. For example, the positive impact of product market reform becomes statistically signif ...
... 0.6 and 0.3 percent, respectively, while no significant average impact of major reforms of employment protection legislation for regular workers could be identified. Second, reforms typically take time to pay off. For example, the positive impact of product market reform becomes statistically signif ...
The Impact of Policy Uncertainty on U.S. Employment: Industry Evidence No. 13-3
... eventually purchased by the government sector, particularly the federal government, varies across industries. It seems natural to focus on the federal government, which has been the primary source of recent policy uncertainty. The federal budget deficit and debt have ballooned since the Great Recess ...
... eventually purchased by the government sector, particularly the federal government, varies across industries. It seems natural to focus on the federal government, which has been the primary source of recent policy uncertainty. The federal budget deficit and debt have ballooned since the Great Recess ...
Fiscal Reaction Function: Evidences from CESEE countries 4
... Economic crisis that recently hit the world left many European countries, both emerging and advanced, with public finance imbalances and sloppy growth prospects. Efforts of European countries to speed up economic growth and fight recession and rising levels of public debt revived academic discussion ...
... Economic crisis that recently hit the world left many European countries, both emerging and advanced, with public finance imbalances and sloppy growth prospects. Efforts of European countries to speed up economic growth and fight recession and rising levels of public debt revived academic discussion ...