PPT
... Suppose GDP increases; is the increase in GDP due to production increasing, or due to prices increasing? • To separate these effects, the BEA calculates both Nominal GDP—the value of final goods and services evaluated at current-year prices—and Real GDP—the value of final goods and services evaluate ...
... Suppose GDP increases; is the increase in GDP due to production increasing, or due to prices increasing? • To separate these effects, the BEA calculates both Nominal GDP—the value of final goods and services evaluated at current-year prices—and Real GDP—the value of final goods and services evaluate ...
maintaining economic stability
... which were published in the Pre-Budget Report on 27 November 2001.1 The public finance projections in the Pre-Budget Report have a different status to those included in the Budget – they present an interim forecast update and do not necessarily represent the outcome the Government is seeking. This u ...
... which were published in the Pre-Budget Report on 27 November 2001.1 The public finance projections in the Pre-Budget Report have a different status to those included in the Budget – they present an interim forecast update and do not necessarily represent the outcome the Government is seeking. This u ...
The German Labor Market During the Great Recession
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
10 MEASURING A NATION`S INCOME
... Chapter 10/Measuring a Nation’s Income ❖ 183 5. The four components of GDP are consumption, such as the purchase of a DVD; investment, such as the purchase of a computer by a business; government purchases, such as an order for military aircraft; and net exports, such as the sale of American wheat ...
... Chapter 10/Measuring a Nation’s Income ❖ 183 5. The four components of GDP are consumption, such as the purchase of a DVD; investment, such as the purchase of a computer by a business; government purchases, such as an order for military aircraft; and net exports, such as the sale of American wheat ...
plans
... programs (notably, Medicare and Medicaid). Deficit reduction well in excess of targets, with stronger-thanexpected economic growth and revenues, but also effective spending caps. ...
... programs (notably, Medicare and Medicaid). Deficit reduction well in excess of targets, with stronger-thanexpected economic growth and revenues, but also effective spending caps. ...
Misunderstanding the Great Depression, making the next one worse
... • Debt for productive purposes good – Working capital for firms – Loans for new technology, factories, markets… • But debt for speculation on asset prices – Drives up asset prices • “Positive feedback loop” between debt & price – Doesn’t add to capacity of economy to service debts – If debt high rel ...
... • Debt for productive purposes good – Working capital for firms – Loans for new technology, factories, markets… • But debt for speculation on asset prices – Drives up asset prices • “Positive feedback loop” between debt & price – Doesn’t add to capacity of economy to service debts – If debt high rel ...
Economic Adjustment in the Baltic Countries
... from 2000 to 2007, when average annual real growth was about 8 per cent (see Table 1)1. To a large extent this robust growth was based on a rapid increase in the productive capacity of these economies, and estimates by the European Commission show that the potential output during that period expande ...
... from 2000 to 2007, when average annual real growth was about 8 per cent (see Table 1)1. To a large extent this robust growth was based on a rapid increase in the productive capacity of these economies, and estimates by the European Commission show that the potential output during that period expande ...
Présentation PowerPoint - McGraw Hill Higher Education
... Measuring Gross Domestic Product o Net domestic product at factor cost: The total payments to the factors of production. o Net domestic product at market prices: Indirect taxes (net of subsidies) are added to net domestic product at factor cost. o Gross domestic product: By adding depreciation to N ...
... Measuring Gross Domestic Product o Net domestic product at factor cost: The total payments to the factors of production. o Net domestic product at market prices: Indirect taxes (net of subsidies) are added to net domestic product at factor cost. o Gross domestic product: By adding depreciation to N ...
The Political Economy of Balanced Budget
... 1960s, but their size had increased to 61 percent by 2010 (Figure 2). The composition of spending shifted from temporary to structural expenditures. A balanced budget rule is seen by proponents as a way to limit these expenditures. They argue that reducing debt will result in lower interest rate pay ...
... 1960s, but their size had increased to 61 percent by 2010 (Figure 2). The composition of spending shifted from temporary to structural expenditures. A balanced budget rule is seen by proponents as a way to limit these expenditures. They argue that reducing debt will result in lower interest rate pay ...
Fiscal Policy in an Emerging Market Economy Andrés Velasco Harvard University
... (1991), Velasco (1998) & (2003), Lane and Tornell (1993) Imagine n symmetric groups. Ech can be thought of as a particular constituency or recipient of government resources. Public expenditure on group i can be interpreted as subsidies to its members or spending on a public good that only benefits t ...
... (1991), Velasco (1998) & (2003), Lane and Tornell (1993) Imagine n symmetric groups. Ech can be thought of as a particular constituency or recipient of government resources. Public expenditure on group i can be interpreted as subsidies to its members or spending on a public good that only benefits t ...
Introduction Portugal has been under the excessive deficit
... indirect taxes and the slight recovery in energy price inflation. The strong rebound in the consumption of durable goods in the first half of 2015 is not forecast to be maintained as still high unemployment and high debt levels are projected to keep upward pressures on household savings. Most of the ...
... indirect taxes and the slight recovery in energy price inflation. The strong rebound in the consumption of durable goods in the first half of 2015 is not forecast to be maintained as still high unemployment and high debt levels are projected to keep upward pressures on household savings. Most of the ...
Your Share January 2015 | Manning & Napier | Rochester, NY
... For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at www.manning-napier.com or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it con ...
... For more information about any of the Manning & Napier Fund, Inc. Series, you may obtain a prospectus at www.manning-napier.com or by calling (800) 466-3863. Before investing, carefully consider the objectives, risks, charges and expenses of the investment and read the prospectus carefully as it con ...
PEOPLE IN ECONOMICS: The $787 Billion Question - Finance
... policy had done all it could to solve the crisis, so using fiscal—taxing and spending—policy was the only option. Though Romer agreed that fiscal stimulus was needed, the academic in her couldn’t help disagreeing with the premise of the President’s statement. “The Fed really isn’t out of bullets. Th ...
... policy had done all it could to solve the crisis, so using fiscal—taxing and spending—policy was the only option. Though Romer agreed that fiscal stimulus was needed, the academic in her couldn’t help disagreeing with the premise of the President’s statement. “The Fed really isn’t out of bullets. Th ...
Sovereigns versus Banks: Credit, Crises, and Consequences
... isolation. Yet the debate about mounting public debt levels in advanced economies has often focused on a narrower view of the historical experience, paying little attention to the development of private credit. This section provides an overview of the co-evolution of private and public sector debt o ...
... isolation. Yet the debate about mounting public debt levels in advanced economies has often focused on a narrower view of the historical experience, paying little attention to the development of private credit. This section provides an overview of the co-evolution of private and public sector debt o ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... Business cycles are a type of fluctuation found in the aggregate activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and reviv ...
... Business cycles are a type of fluctuation found in the aggregate activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and reviv ...
Some Definitions and Preliminaries
... The first other method begins by asking what happens to this final output - the £250 worth of steel and the £1,200 worth of nails - in the previous example. By national income conventions, any final good or service must have been bought by someone, whether they wanted to or not. We assumed that firm ...
... The first other method begins by asking what happens to this final output - the £250 worth of steel and the £1,200 worth of nails - in the previous example. By national income conventions, any final good or service must have been bought by someone, whether they wanted to or not. We assumed that firm ...
A. GDP, Economic Growth, and Business Cycles
... and the consumer price index (CPI) which a weighted average of the prices of a set of goods and services produced in an economy over a period of time and is calculated as Cost of base year quantities at current prices CP Icurrent year = ...
... and the consumer price index (CPI) which a weighted average of the prices of a set of goods and services produced in an economy over a period of time and is calculated as Cost of base year quantities at current prices CP Icurrent year = ...
from global collapse to recovery
... cyclical recovery has so far taken a sharper V-shape than was expected a year ago, not least because economic activity is rebounding from a very low base. There has been a strong and steady comeback in as- ...
... cyclical recovery has so far taken a sharper V-shape than was expected a year ago, not least because economic activity is rebounding from a very low base. There has been a strong and steady comeback in as- ...
Chapter 12: Aggregate Expenditure and Output in the Short Run
... Borrowing takes the form of issuing corporate bonds or receiving loans from banks. A signi…cant fraction of investment is …nanced by borrowing. HHs also borrow to …nance most of their spending on new houses. Because households and …rms are interested in the cost of borrowing after taking into accoun ...
... Borrowing takes the form of issuing corporate bonds or receiving loans from banks. A signi…cant fraction of investment is …nanced by borrowing. HHs also borrow to …nance most of their spending on new houses. Because households and …rms are interested in the cost of borrowing after taking into accoun ...
The Current Federal Debt and Deficit Debate in the US
... John F. Kennedy’s 1962 Yale speech and the Employment Act of 1946. Although many might have it that the first deliberate practical application of Keynes’ recommendation for the counter cyclical use of deficit financing occurred during the Roosevelt administration, it would appear to be more historic ...
... John F. Kennedy’s 1962 Yale speech and the Employment Act of 1946. Although many might have it that the first deliberate practical application of Keynes’ recommendation for the counter cyclical use of deficit financing occurred during the Roosevelt administration, it would appear to be more historic ...
Some thoughts on the Spanish economy after
... five years of crisis, a task which is easier now that this period can be analysed from a certain perspective. The crisis prompted a substantial readjustment of the main Spanish macroeconomic aggregates, affecting the level and composition of GDP, employment and the balance sheet position of the inst ...
... five years of crisis, a task which is easier now that this period can be analysed from a certain perspective. The crisis prompted a substantial readjustment of the main Spanish macroeconomic aggregates, affecting the level and composition of GDP, employment and the balance sheet position of the inst ...
Chapter 10 Fiscal Policy
... income taxes and transfers to individuals. For example, let’s say consumers receive a tax cut of 50. If they spent it all, that would add 50 to aggregate demand. But according to the “marginal propensity to consume” (mpc) principle, consumers are likely to use some portion of the tax cut to increase ...
... income taxes and transfers to individuals. For example, let’s say consumers receive a tax cut of 50. If they spent it all, that would add 50 to aggregate demand. But according to the “marginal propensity to consume” (mpc) principle, consumers are likely to use some portion of the tax cut to increase ...
PDF Download
... A precise and reliable decomposition of the observed time series of real GDP in its trend and cycle components is a crucial task in applied business cycle research and a prerequisite for rational decisions in monetary and fiscal policy. The most popular approach to tackle this problem is the applica ...
... A precise and reliable decomposition of the observed time series of real GDP in its trend and cycle components is a crucial task in applied business cycle research and a prerequisite for rational decisions in monetary and fiscal policy. The most popular approach to tackle this problem is the applica ...
NBER WORKING PAPER SERIES REAL BUSINESS CYCLES: A NEW KEYNESIAN PERSPECTIVE
... generate fluctuations in real business cycle models. For example, changes in the level of government purchases or in the investment tax credit alter the demand for goods and therefore ...
... generate fluctuations in real business cycle models. For example, changes in the level of government purchases or in the investment tax credit alter the demand for goods and therefore ...
National Income Accounting: Gross Domestic Product (GDP)
... foreign lands but purchased in the United States. • Exports (X): goods and services produced in the United States but purchased in foreign lands. • We add exports to our GDP, but subtract imports from our GDP. • The difference between exports and imports is called net exports (X – M). ...
... foreign lands but purchased in the United States. • Exports (X): goods and services produced in the United States but purchased in foreign lands. • We add exports to our GDP, but subtract imports from our GDP. • The difference between exports and imports is called net exports (X – M). ...