Statistical Appendix
... (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with the 1993 SNA. These standards reflect the IMF’s special interest in countries’ external positions, financial sector stability, and public sector fiscal positions. The process of adapting country data t ...
... (MFSM 2000), and the Government Finance Statistics Manual 2001 (GFSM 2001)—have all been aligned with the 1993 SNA. These standards reflect the IMF’s special interest in countries’ external positions, financial sector stability, and public sector fiscal positions. The process of adapting country data t ...
Stimulus without Debt - Alfred Lerner College of Business and
... additional spending by households would primarily raise real output and employment and have a modest effect on prices. In an academic article before he became a member of the Federal Reserve Board, Ben Bernanke (2000) made the following recommendation to Japan on how to energize its weak economic re ...
... additional spending by households would primarily raise real output and employment and have a modest effect on prices. In an academic article before he became a member of the Federal Reserve Board, Ben Bernanke (2000) made the following recommendation to Japan on how to energize its weak economic re ...
The Zero Lower Bound and Endogenous Uncertainty
... happening in the economy. An increase in uncertainty occurs as the short-term nominal interest rate approaches its ZLB due to the restriction the constraint places on the ability of the central bank to stabilize the economy. In our model, the ZLB arises in states where the discount factor or technol ...
... happening in the economy. An increase in uncertainty occurs as the short-term nominal interest rate approaches its ZLB due to the restriction the constraint places on the ability of the central bank to stabilize the economy. In our model, the ZLB arises in states where the discount factor or technol ...
Shock Therapy versus Gradualism
... Take the example of Vietnam and China - two countries that shared a lot of similarities in initial conditions and achieved basically the same results (immediate growth of output without transformational recession) despite different reform strategies. While Chinese reforms are normally treated as a c ...
... Take the example of Vietnam and China - two countries that shared a lot of similarities in initial conditions and achieved basically the same results (immediate growth of output without transformational recession) despite different reform strategies. While Chinese reforms are normally treated as a c ...
The Great Recession versus the Great Depression: Stylized Facts on
... The main research point of this paper is to compare the severity of the two crises; more specifically how much did the main economic activity variables drop (their relative change) compared with their pre-crisis maximum? The pre-crisis peak in the Great Depression, for most indicators and most count ...
... The main research point of this paper is to compare the severity of the two crises; more specifically how much did the main economic activity variables drop (their relative change) compared with their pre-crisis maximum? The pre-crisis peak in the Great Depression, for most indicators and most count ...
The Great Recession versus the Great Depression
... The main research point of this paper is to compare the severity of the two crises; more specifically how much did the main economic activity variables drop (their relative change) compared with their pre-crisis maximum? The pre-crisis peak in the Great Depression, for most indicators and most count ...
... The main research point of this paper is to compare the severity of the two crises; more specifically how much did the main economic activity variables drop (their relative change) compared with their pre-crisis maximum? The pre-crisis peak in the Great Depression, for most indicators and most count ...
Chapter 12
... federal budget to attain price stability, relatively full employment, and a satisfactory rate of economic growth – To attain these goals, the government must manipulate its spending and taxes ...
... federal budget to attain price stability, relatively full employment, and a satisfactory rate of economic growth – To attain these goals, the government must manipulate its spending and taxes ...
02- Unit Three Problem Sets
... b. To support your answer in part a, draw a recessionary gap and an inflationary gap. Draw and explain how fiscal policy is used to close the gaps using accurate numbers. ( ____/5) ...
... b. To support your answer in part a, draw a recessionary gap and an inflationary gap. Draw and explain how fiscal policy is used to close the gaps using accurate numbers. ( ____/5) ...
- Department Of Economics
... across countries. PPP-adjusted GDP per capita is the per capita production/income that accounts for the cost of living so as to ‘standardize’ what is the real cost of consumption goods/services across countries. Because of the reasons listed above, it is a better-suited indicator for comparing wealt ...
... across countries. PPP-adjusted GDP per capita is the per capita production/income that accounts for the cost of living so as to ‘standardize’ what is the real cost of consumption goods/services across countries. Because of the reasons listed above, it is a better-suited indicator for comparing wealt ...
chapter 17 macroeconomic policy in an open economy
... Trade-account surplus and a capital-account deficit 37. Under a fixed exchange-rate system, an expansionary fiscal policy leads to an improvement in a nation’s balance-of-payments position if the resulting: a. Trade-account deficit more than offsets the capital-account surplus ...
... Trade-account surplus and a capital-account deficit 37. Under a fixed exchange-rate system, an expansionary fiscal policy leads to an improvement in a nation’s balance-of-payments position if the resulting: a. Trade-account deficit more than offsets the capital-account surplus ...
Chapter 14
... phases and turning points is performed by a private research organization, the National Bureau of Economic Research (NBER). ...
... phases and turning points is performed by a private research organization, the National Bureau of Economic Research (NBER). ...
Bank Runs, Deposit Insurance, and Liquidity Diamond and
... largely unwound through default in the 1930s The even larger buildup in public debts of WWII was unwound partially through steady growth-but, more importantly, through “financial repression” Reinhart ...
... largely unwound through default in the 1930s The even larger buildup in public debts of WWII was unwound partially through steady growth-but, more importantly, through “financial repression” Reinhart ...
May 11, 2012 James H. Stock Department of Economics, Harvard University
... correlated, which makes their separate interpretation problematic. Despite these drawbacks, the structural analysis is consistent with the recession being caused by initial oil price shocks followed by large financial and uncertainty shocks. Third, focusing on the recovery following the 2009Q2 troug ...
... correlated, which makes their separate interpretation problematic. Despite these drawbacks, the structural analysis is consistent with the recession being caused by initial oil price shocks followed by large financial and uncertainty shocks. Third, focusing on the recovery following the 2009Q2 troug ...
The Great Depression Lesson 1 - Measuring the Great Depression
... Lesson 1 | Measuring the Great Depression 11. Explain that because price stability is important to a healthy economy, price levels for the U.S. economy are measured, and there are several measures. One measure of price level changes with which students may be most familiar is the Consumer Price In ...
... Lesson 1 | Measuring the Great Depression 11. Explain that because price stability is important to a healthy economy, price levels for the U.S. economy are measured, and there are several measures. One measure of price level changes with which students may be most familiar is the Consumer Price In ...
CHAPTER 17 MACROECONOMIC POLICY IN AN OPEN ECONOMY
... Chapter 17: Macroeconomic Policy in an Open Economy ...
... Chapter 17: Macroeconomic Policy in an Open Economy ...
Chapter 33
... • The length of a business cycle may be measured by the time between one peak and the next or the time between one trough and the next. • The peaks and troughs of the US business cycle are officially registered by the NBER. • During 1945-2009, there have been 11 cycles in the US. • The average reces ...
... • The length of a business cycle may be measured by the time between one peak and the next or the time between one trough and the next. • The peaks and troughs of the US business cycle are officially registered by the NBER. • During 1945-2009, there have been 11 cycles in the US. • The average reces ...
Financial Crisis, Recessions and the State of
... maximization; general equilibrium and the exploration with no or few imperfections Shocks to aggregate demand Shocks to aggregate supply RBC-school regard changes in productivity as the driving force in business cycles because of changes in technology may come in waves, therefore, favorable or unfav ...
... maximization; general equilibrium and the exploration with no or few imperfections Shocks to aggregate demand Shocks to aggregate supply RBC-school regard changes in productivity as the driving force in business cycles because of changes in technology may come in waves, therefore, favorable or unfav ...
Bade_Parkin_Macro_Lecture_CH14
... phases and turning points is performed by a private research organization, the National Bureau of Economic Research (NBER). ...
... phases and turning points is performed by a private research organization, the National Bureau of Economic Research (NBER). ...
Economic Fluctuations, Unemployment, and Inflation
... 1. Classify each of the following as employed, unemployed, or not in the labor force: a. a person who is not working but applied for a job at Wal-Mart last week b. a person working part-time who is searching diligently for a full-time job c. an auto worker vacationing in Florida during a layoff at a ...
... 1. Classify each of the following as employed, unemployed, or not in the labor force: a. a person who is not working but applied for a job at Wal-Mart last week b. a person working part-time who is searching diligently for a full-time job c. an auto worker vacationing in Florida during a layoff at a ...
Ch11
... increasing. Recession The period of a business cycle during which total production and total employment are decreasing. Economic growth The ability of an economy to produce increasing quantities of goods and services. Inflation rate The percentage increase in the price level from one year to the nex ...
... increasing. Recession The period of a business cycle during which total production and total employment are decreasing. Economic growth The ability of an economy to produce increasing quantities of goods and services. Inflation rate The percentage increase in the price level from one year to the nex ...
Notes on NIPA - San Francisco State University
... prices? Notice that if the economy does not change the production of any good, and the prices of all goods go up by 5%, then the nominal GDP will increase by 5%. In this case the increase in nominal GDP does not reflect an increase in the productive capacity of the economy, but simply a result of in ...
... prices? Notice that if the economy does not change the production of any good, and the prices of all goods go up by 5%, then the nominal GDP will increase by 5%. In this case the increase in nominal GDP does not reflect an increase in the productive capacity of the economy, but simply a result of in ...
Chapter 22 - The Short
... Short-run macro model focuses on spending in explaining economic fluctuations Explains how shocks that affect one sector influence other sectors ...
... Short-run macro model focuses on spending in explaining economic fluctuations Explains how shocks that affect one sector influence other sectors ...
Chapter 13 power point
... • As consumers cut back on purchases, other goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
... • As consumers cut back on purchases, other goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
Macro Module 7 Macro Workings - Instructor Answer
... Economic growth is measured by log run trends in: actual GDP potential GDP* business cycles // Content Page – Reading: The Significance of Economic Growth // New 10/20/2015 ...
... Economic growth is measured by log run trends in: actual GDP potential GDP* business cycles // Content Page – Reading: The Significance of Economic Growth // New 10/20/2015 ...