NBER WORKING PAPER SERIES Takero Doi Takeo Hoshi
... within the general government sector. For those series, data on the central/local governments side are publicly available, so we calculate the quarterly amount for the central/local governments first and then subtract the number from the general government sector number to obtain the amount for the ...
... within the general government sector. For those series, data on the central/local governments side are publicly available, so we calculate the quarterly amount for the central/local governments first and then subtract the number from the general government sector number to obtain the amount for the ...
Monetary Policy and Aggregate Demand
... 1. In the short run, an increase in the money supply causes a rightward shift of the aggregate demand curve. As a result, real GDP and the aggregate price level both rise. 2. In the long run, an increase in the money supply will cause the aggregate demand curve to shift to the right, thereby raising ...
... 1. In the short run, an increase in the money supply causes a rightward shift of the aggregate demand curve. As a result, real GDP and the aggregate price level both rise. 2. In the long run, an increase in the money supply will cause the aggregate demand curve to shift to the right, thereby raising ...
Stable Value Fund
... Income Risk: The possibility that a fund’s income will decline as a result of falling interest rates. Investments are generally made for terms of at least two to five years, on average, producing a rate of fund income that will be higher than that earned on shorter-maturity money market funds. But b ...
... Income Risk: The possibility that a fund’s income will decline as a result of falling interest rates. Investments are generally made for terms of at least two to five years, on average, producing a rate of fund income that will be higher than that earned on shorter-maturity money market funds. But b ...
NBER WORKING PAPER SERIES PUZZLING TAX STRUCTURES IN DEVELOPING ALTERNATIVE EXPLANATIONS
... financial sector, they leave a paper trail, facilitating tax enforcement. In contrast, cash transactions are virtually impossible to monitor and tax, to the point that the informal economy and the cash economy are often used as synonyms. When countries have both a financial sector that provides litt ...
... financial sector, they leave a paper trail, facilitating tax enforcement. In contrast, cash transactions are virtually impossible to monitor and tax, to the point that the informal economy and the cash economy are often used as synonyms. When countries have both a financial sector that provides litt ...
The IS Schedule
... • The supply of real money balances is defined as the ratio of nominal money balances and the price level, M/P. – where M is the nominal money supply and P is the price level. • The money supply is assumed to be an exogenous variable determined by the central bank. • The price level is also assumed ...
... • The supply of real money balances is defined as the ratio of nominal money balances and the price level, M/P. – where M is the nominal money supply and P is the price level. • The money supply is assumed to be an exogenous variable determined by the central bank. • The price level is also assumed ...
Economic Statement Executive Summary
... responses will also shape our future through to mid-century. This was the clear prospect when we began this reference a year ago, and we firmly believe it holds good today, but the near-term future has been muddied by the abrupt and extraordinary financial crisis that has grown since 2008. At time o ...
... responses will also shape our future through to mid-century. This was the clear prospect when we began this reference a year ago, and we firmly believe it holds good today, but the near-term future has been muddied by the abrupt and extraordinary financial crisis that has grown since 2008. At time o ...
Short-run Phillips Curve
... sacrifice of large amounts of aggregate output. • However, policy makers in the United States and other wealthy countries were willing to pay that price of bringing down the high inflation of the 1970s. ...
... sacrifice of large amounts of aggregate output. • However, policy makers in the United States and other wealthy countries were willing to pay that price of bringing down the high inflation of the 1970s. ...
phillips curve case study – romania
... will continue. The number of jobs will be reduce with at least 3,5 million reaching a 8,75% rate within EU and 9,25% within euro (exchange) zone. Inflation in 2009 was predicted by EU at 1,2%, as aginast 3,7% in 2008 and somwehere near 2% in 2010. This can only mean one thing: new methods for stimul ...
... will continue. The number of jobs will be reduce with at least 3,5 million reaching a 8,75% rate within EU and 9,25% within euro (exchange) zone. Inflation in 2009 was predicted by EU at 1,2%, as aginast 3,7% in 2008 and somwehere near 2% in 2010. This can only mean one thing: new methods for stimul ...
economic crisis and taxation in europe
... similar fashion to those depicted for the EU27. On the other hand, the dynamics of tax revenue in the NMS revealed certain specific feature, in addition to the previously - mentioned greater changes in terms of GDP. In particular, substantial fluctuations in the latter caused gaps between the dynami ...
... similar fashion to those depicted for the EU27. On the other hand, the dynamics of tax revenue in the NMS revealed certain specific feature, in addition to the previously - mentioned greater changes in terms of GDP. In particular, substantial fluctuations in the latter caused gaps between the dynami ...
NBER WORKING PAPER SERIES SOCIAL SECURITY AND INDIVIDUAL WELFARE: PRECAUTIONARY SAVING, LIQUIDITY CONSTRAINTS,
... case under similar assumptions; for example, the ratio of the former to the latter is 0.22 for the plausible case wherein r = .02 and ...
... case under similar assumptions; for example, the ratio of the former to the latter is 0.22 for the plausible case wherein r = .02 and ...
Swedish post-war economic development — The role of age structure
... Our starting point takes the different age effects on the economy as granted. Given this we form an overall picture of the connections between reduced-form estimates of age structure effects on saving, growth, investment, the current account and inflation in the Swedish post-war economy. Cohort-siz ...
... Our starting point takes the different age effects on the economy as granted. Given this we form an overall picture of the connections between reduced-form estimates of age structure effects on saving, growth, investment, the current account and inflation in the Swedish post-war economy. Cohort-siz ...
Working Paper No. 510 Institutional investor
... United Kingdom, the Bank of England responded to the risk that it would undershoot its 2% target for annual CPI inflation by cutting its policy rate further in March 2009, to a historical low of 0.5%, and introducing a programme of large-scale purchases of financial assets financed through the creat ...
... United Kingdom, the Bank of England responded to the risk that it would undershoot its 2% target for annual CPI inflation by cutting its policy rate further in March 2009, to a historical low of 0.5%, and introducing a programme of large-scale purchases of financial assets financed through the creat ...
Fund Facts
... and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. The services described are provided by CCLA Investment Management Limited (CCLA), a firm authorised and regulated by the Financial Conduct Authority. This document is issued for information purp ...
... and it should not be relied upon as such. Opinions expressed herein are subject to change without notice. The services described are provided by CCLA Investment Management Limited (CCLA), a firm authorised and regulated by the Financial Conduct Authority. This document is issued for information purp ...
Probably Too Little, Certainly Too Late. An Assessment of
... that the multiplier of public investment in this moment could be far larger than one (especially if the projects are selected carefully). ...
... that the multiplier of public investment in this moment could be far larger than one (especially if the projects are selected carefully). ...
Chapter 11 Applications of the Ramsey model
... That is, if a shock occurs in historical time, it must be treated as a complete surprise, a “once-for-all” shock not expected to be replicated in any sense. Suppose that up until time 0 0 government spending maintains the constant given ratio (T ) = ̃ Suppose further that before time 0 ...
... That is, if a shock occurs in historical time, it must be treated as a complete surprise, a “once-for-all” shock not expected to be replicated in any sense. Suppose that up until time 0 0 government spending maintains the constant given ratio (T ) = ̃ Suppose further that before time 0 ...
Reflections on Recent Target Date Glide-Path
... authors acknowledge that the approach may not align with investor risk preferences. In addition, a closer look at the study’s results suggests that, for equity weights commonly used by target date portfolios in the retirement years (say, in the range of 20%–60% equity), the effect of glide-path slop ...
... authors acknowledge that the approach may not align with investor risk preferences. In addition, a closer look at the study’s results suggests that, for equity weights commonly used by target date portfolios in the retirement years (say, in the range of 20%–60% equity), the effect of glide-path slop ...
Aggregate Price Levels Inflation Consumer Price Index (CPI)
... • Creditors, the people who lend out money, are hurt by unanticipated inflation – The ultimate creditors, or lenders, are the people who put their money in banks, life insurance, or any other financial instrument paying a fixed rate of interest Copyright ©2002 by The McGraw-Hill Companies, Inc. All ...
... • Creditors, the people who lend out money, are hurt by unanticipated inflation – The ultimate creditors, or lenders, are the people who put their money in banks, life insurance, or any other financial instrument paying a fixed rate of interest Copyright ©2002 by The McGraw-Hill Companies, Inc. All ...
chapter 3
... and taxes (EBIT) by the interest charges. The TIE measures the extent to which operating income can decline before the firm is unable to meet its annual interest costs. Note that EBIT, rather than net income, is used in the numerator. Because interest is paid with pretax dollars, the firm’s ability ...
... and taxes (EBIT) by the interest charges. The TIE measures the extent to which operating income can decline before the firm is unable to meet its annual interest costs. Note that EBIT, rather than net income, is used in the numerator. Because interest is paid with pretax dollars, the firm’s ability ...
Chapter Two: LOW GROWTH, LOW INTEREST RATES, AND
... the global financial crisis. From a longer-term perspective, real interest rates have been on a steady decline over the past three decades. Despite recent signs of an increase in long-term yields, particularly in the United States, the experience of Japan suggests that an imminent and permanent exit ...
... the global financial crisis. From a longer-term perspective, real interest rates have been on a steady decline over the past three decades. Despite recent signs of an increase in long-term yields, particularly in the United States, the experience of Japan suggests that an imminent and permanent exit ...
The Economic Crisis through the Lens of Economic Wellbeing
... This report looks at how the economic crisis has unfolded in Canada and what will be the impacts on economic wellbeing. The shortfall is estimated to be approximately $12,000 ($2007) per capita. In other words, given no economic crisis, GDP per capita in Canada would have likely been $1,736 higher o ...
... This report looks at how the economic crisis has unfolded in Canada and what will be the impacts on economic wellbeing. The shortfall is estimated to be approximately $12,000 ($2007) per capita. In other words, given no economic crisis, GDP per capita in Canada would have likely been $1,736 higher o ...
What Fiscal Policy Is Effective at Zero Interest Rates?
... prominence in the policy discussion but to highlight a general principle for policy in this class of models. The principal goal of policy at zero interest rates should not be to increase aggregate supply by manipulating aggregate supply incentives. Instead, the goal of policy should be to increase a ...
... prominence in the policy discussion but to highlight a general principle for policy in this class of models. The principal goal of policy at zero interest rates should not be to increase aggregate supply by manipulating aggregate supply incentives. Instead, the goal of policy should be to increase a ...
A Comparison in Manufacturing: UK, France
... in. Competition amongst companies should provide an imperative to growth. Each company has to grow to survive and for government, charged with overseeing the process, GDP becomes their number one economic target. When GDP goes up, it means an economy is expanding and when the economy is expanding, i ...
... in. Competition amongst companies should provide an imperative to growth. Each company has to grow to survive and for government, charged with overseeing the process, GDP becomes their number one economic target. When GDP goes up, it means an economy is expanding and when the economy is expanding, i ...
Aggregate Price Levels
... • Creditors, the people who lend out money, are hurt by unanticipated inflation – The ultimate creditors, or lenders, are the people who put their money in banks, life insurance, or any other financial instrument paying a fixed rate of interest Copyright 2002 by The McGraw-Hill Companies, Inc. All ...
... • Creditors, the people who lend out money, are hurt by unanticipated inflation – The ultimate creditors, or lenders, are the people who put their money in banks, life insurance, or any other financial instrument paying a fixed rate of interest Copyright 2002 by The McGraw-Hill Companies, Inc. All ...
NBER WORKING PAPER SERIES TWO EXAMPLES Joshua Aizenman
... If a bad enough shock reduces future output so much that the country defaults (i.e., if Q < 1), then the country services the eternal debt by paying the default penalty. In the absence of sufficient international reserve holdings to finance second-period public expenditures, the country also needs t ...
... If a bad enough shock reduces future output so much that the country defaults (i.e., if Q < 1), then the country services the eternal debt by paying the default penalty. In the absence of sufficient international reserve holdings to finance second-period public expenditures, the country also needs t ...
Education, Married Women`s Participation Rate, Fertility and
... contributes to economic growth. It combines a model of the household’s fertility/labor supply choices with a growth model in which fertility and economic growth are endogenously determined. This study’s main issue is how the female labor supply, through the proportion of educational expenditure, aff ...
... contributes to economic growth. It combines a model of the household’s fertility/labor supply choices with a growth model in which fertility and economic growth are endogenously determined. This study’s main issue is how the female labor supply, through the proportion of educational expenditure, aff ...