Endogenous Government Spending and Fiscal Stimulus
... large size of fiscal expansion under deep recession and small size of fiscal expansion under moderate recession, since the aggressive fiscal expansion is usually given under the exceptional circumstances, but not for more normal fluctuations. Therefore, both the timing and size of the fiscal expansi ...
... large size of fiscal expansion under deep recession and small size of fiscal expansion under moderate recession, since the aggressive fiscal expansion is usually given under the exceptional circumstances, but not for more normal fluctuations. Therefore, both the timing and size of the fiscal expansi ...
The impact of government debt on aggregate investment
... In line with basic growth theory (Acemoglu, 2009; Durlauf et al., 2005), we expect a positive coefficient on the capital stock and a positive one on openness and financial development. We also expect results to be compatible with the idea of conditional convergence (i.e., we expect β prodgr to be n ...
... In line with basic growth theory (Acemoglu, 2009; Durlauf et al., 2005), we expect a positive coefficient on the capital stock and a positive one on openness and financial development. We also expect results to be compatible with the idea of conditional convergence (i.e., we expect β prodgr to be n ...
Composite Leading Indicators for Ukraine - CASE
... years. Similarly to the 1998 crisis, the downturn was sparked by external events affecting the global economy. Nevertheless it could be argued that in both cases, i.e., in 1998 and 2008, the crises were predictable and their occurrence should not surprise the analysts. What was difficult to predict ...
... years. Similarly to the 1998 crisis, the downturn was sparked by external events affecting the global economy. Nevertheless it could be argued that in both cases, i.e., in 1998 and 2008, the crises were predictable and their occurrence should not surprise the analysts. What was difficult to predict ...
SPAIN 2013 ARTICLE IV CONSULTATION
... tightened. Monthly reports are now available for all major levels of government. A commission is reviewing public administration functions to eliminate overlaps/increase efficiency. ...
... tightened. Monthly reports are now available for all major levels of government. A commission is reviewing public administration functions to eliminate overlaps/increase efficiency. ...
Stone2e_CH20_Layout 1
... well below full employment, we saw that increases in aggregate demand can move the economy toward full employment without generating excessive inflation pressures. However, influencing aggregate demand brings with it a tradeoff: Output is increased at the expense of raising the price level. When the ...
... well below full employment, we saw that increases in aggregate demand can move the economy toward full employment without generating excessive inflation pressures. However, influencing aggregate demand brings with it a tradeoff: Output is increased at the expense of raising the price level. When the ...
Monetary Growth and Business Cycles
... preventing large reductions in output and employment during economic contractions. Monetarists also consider the rate of monetary growth to be the best indicator of the impact of monetary policy. They believe that growth in the money supply is a more reliable measure of the effects of Federal Reserv ...
... preventing large reductions in output and employment during economic contractions. Monetarists also consider the rate of monetary growth to be the best indicator of the impact of monetary policy. They believe that growth in the money supply is a more reliable measure of the effects of Federal Reserv ...
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... de Ree, 2010). Such transnational spreads of negative effects tend to accelerate the economic down-turn of the entire region, which, in turn, makes a rapid postwar recovery of the initial victim also difficult due to its close economic relationship with its surroundings. ...
... de Ree, 2010). Such transnational spreads of negative effects tend to accelerate the economic down-turn of the entire region, which, in turn, makes a rapid postwar recovery of the initial victim also difficult due to its close economic relationship with its surroundings. ...
Chapter 26 DEMAND-SIDE EQUILIBRIUM: UNEMPLOYMENT OR
... gov regulations that place legal floors on wages and prices. These were all developed since WWII. ● Psychological resistance: firms are reluctant to cut wages for fear their employees will resent it and reduce effort. ♦ But why wasn’t this true prior to WWII? ...
... gov regulations that place legal floors on wages and prices. These were all developed since WWII. ● Psychological resistance: firms are reluctant to cut wages for fear their employees will resent it and reduce effort. ♦ But why wasn’t this true prior to WWII? ...
Sample
... 14) Explain why the Phillips curve on average is downward sloping. Answer: When unemployment becomes very low, the economy is likely to overheat and this will lead to upward pressure on inflation. 15) Explain why economists care about unemployment. Answer: First, they care about unemployment becaus ...
... 14) Explain why the Phillips curve on average is downward sloping. Answer: When unemployment becomes very low, the economy is likely to overheat and this will lead to upward pressure on inflation. 15) Explain why economists care about unemployment. Answer: First, they care about unemployment becaus ...
- TestbankU
... Note that the definition of income was changed in several ways in 2003. Several categories were broken down in more detail, indirect business taxes were included in the larger category of taxes on production and imports, and less netting was done for transfers, interest, and surplus or subsidies of ...
... Note that the definition of income was changed in several ways in 2003. Several categories were broken down in more detail, indirect business taxes were included in the larger category of taxes on production and imports, and less netting was done for transfers, interest, and surplus or subsidies of ...
chapter 20 gross domestic product accounting
... Chapter in a Nutshell Gross domestic product was introduced in the previous chapter as a basic measure of macroeconomic performance. This chapter identifies the component parts of GDP and describes their significance — personal consumption expenditures, gross private domestic investment, government ...
... Chapter in a Nutshell Gross domestic product was introduced in the previous chapter as a basic measure of macroeconomic performance. This chapter identifies the component parts of GDP and describes their significance — personal consumption expenditures, gross private domestic investment, government ...
chapter 5 gross domestic product accounting
... Chapter in a Nutshell Gross domestic product was introduced in the previous chapter as a basic measure of macroeconomic performance. This chapter identifies the component parts of GDP and describes their significance — personal consumption expenditures, gross private domestic investment, government ...
... Chapter in a Nutshell Gross domestic product was introduced in the previous chapter as a basic measure of macroeconomic performance. This chapter identifies the component parts of GDP and describes their significance — personal consumption expenditures, gross private domestic investment, government ...
Cover Page - Rotary Club of York
... Slower global growth means that most commodity prices, which have declined over the past few months, should not shoot up again. However, a return of commodity prices to 2003-like levels does not seem likely either because growth in the developing world is not falling completely apart. ...
... Slower global growth means that most commodity prices, which have declined over the past few months, should not shoot up again. However, a return of commodity prices to 2003-like levels does not seem likely either because growth in the developing world is not falling completely apart. ...
WORKING PAPER SERIES Centre for Competitive Advantage in the Global Economy
... adverse growth effects of high debt described by Reinhart and Rogoff (2010), may succeed in generating precisely the outcomes they are afraid of! The fear that higher interest rates could cause the programme of consolidation to unravel is real enough, however. When multiplier effects are at work, in ...
... adverse growth effects of high debt described by Reinhart and Rogoff (2010), may succeed in generating precisely the outcomes they are afraid of! The fear that higher interest rates could cause the programme of consolidation to unravel is real enough, however. When multiplier effects are at work, in ...
PPT
... barrel to less than $13 a barrel. The result: gasoline prices were lower than they had been in over 50 years. In 2005, oil prices shot up to $60 a barrel. • Reason: increased demand throughout the world, particularly in fastgrowing countries such as China and India. • Result: the economy appeared to ...
... barrel to less than $13 a barrel. The result: gasoline prices were lower than they had been in over 50 years. In 2005, oil prices shot up to $60 a barrel. • Reason: increased demand throughout the world, particularly in fastgrowing countries such as China and India. • Result: the economy appeared to ...
Lecture 5 Unemployment
... stopped looking for work are called ____ workers. What are the types of unemployment? The natural rate of unemployment consists solely of frictional and structural unemployment. ...
... stopped looking for work are called ____ workers. What are the types of unemployment? The natural rate of unemployment consists solely of frictional and structural unemployment. ...
Unemployment, NAIRU and the Phillips Curve
... The demand for lifeguard services tends to exist in the summer but nothing like as much in the winter – ...
... The demand for lifeguard services tends to exist in the summer but nothing like as much in the winter – ...
NBER WORKING PAPER SERIES MACROECONOMIC POLICY DESIGN IN AN INTERDEPENDENT WORLD ECONOMY-
... balances viii be larger since lover nominal interest rates raise velocity. Given nominal money growth rates in the U.S. and the ROW and without any discrete changes in the levels of the nominal money stocks, the process of increasing real balances requires that the rate of inflation be held below th ...
... balances viii be larger since lover nominal interest rates raise velocity. Given nominal money growth rates in the U.S. and the ROW and without any discrete changes in the levels of the nominal money stocks, the process of increasing real balances requires that the rate of inflation be held below th ...
Theme 2 The UK economy: performance and
... before the recession ‘at around $38,000 (US$ PPP)’. One advantage of using GDP per capita is that it is easy to calculate from official government figures. The methodology for calculating GDP is well understood and it does not require a separate calculation. Governments across the world have agreed ...
... before the recession ‘at around $38,000 (US$ PPP)’. One advantage of using GDP per capita is that it is easy to calculate from official government figures. The methodology for calculating GDP is well understood and it does not require a separate calculation. Governments across the world have agreed ...
Unit III - AP Macro Practice Exam Questions Multiple Choice Identify
... a. the cost of productive resources d. the federal budget deficit b. productivity e. imports c. the money supply 23. In the simple Keynesian aggregate expenditure model of an economy, changes in investment or government spending will lead to a change in which of the following? a. the price level d. ...
... a. the cost of productive resources d. the federal budget deficit b. productivity e. imports c. the money supply 23. In the simple Keynesian aggregate expenditure model of an economy, changes in investment or government spending will lead to a change in which of the following? a. the price level d. ...
Output Gap, Recessions and Fiscal Discretion
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...
... the recovery pace - revitalized the debate on fiscal stimuli and spending multipliers. Yet, this debate does not seem conclusive: not simply because results widely differ but also -and even more - because one should evaluate first if there are (and which are) spending variables under some policy c ...