Analysing and Decomposing the Sources of Added
... Printed in France, August 2013. Copyright© EDHEC 2013 The opinions expressed in this study are those of the author and do not necessarily reflect those of EDHEC Business School. The authors can be contacted at [email protected]. ...
... Printed in France, August 2013. Copyright© EDHEC 2013 The opinions expressed in this study are those of the author and do not necessarily reflect those of EDHEC Business School. The authors can be contacted at [email protected]. ...
Potential GDP Estimation for Romania
... Economic growth displays irregular fluctuations along business cycles, periods of economic expansion alternating with those of stagnation. The fact that economies have a central longterm growth tendency has prompted economists to formulate the concept of potential GDP, whose long-term growth rate is ...
... Economic growth displays irregular fluctuations along business cycles, periods of economic expansion alternating with those of stagnation. The fact that economies have a central longterm growth tendency has prompted economists to formulate the concept of potential GDP, whose long-term growth rate is ...
The Dynamics of Business Investment Following Banking Crises
... I start by estimating equation (1), which does not differentiate between normal recessions and banking crises, and find that there is evidence that growth in business investments in recoveries is moderately stronger the deeper the previous recession was. The parameter estima ...
... I start by estimating equation (1), which does not differentiate between normal recessions and banking crises, and find that there is evidence that growth in business investments in recoveries is moderately stronger the deeper the previous recession was. The parameter estima ...
This PDF is a selection from a published volume
... actually be welfare enhancing, since government spending crowds out private consumption in our model. But as we discuss below, this result may be driven by problematic features of our model. • Deficits are more sensitive to interest rates in high debt countries, due to the burden of debt service. In ...
... actually be welfare enhancing, since government spending crowds out private consumption in our model. But as we discuss below, this result may be driven by problematic features of our model. • Deficits are more sensitive to interest rates in high debt countries, due to the burden of debt service. In ...
Asset Allocation - Columbia Basin Foundation
... The Investment Committee has also approved the assignment of “affiliate managers”. These are typically Investment Managers who have played a role in the assignment of a major new fund ($500,000.00 or more) to the Community Foundation. In such cases, equivalent investment amounts may be assigned to t ...
... The Investment Committee has also approved the assignment of “affiliate managers”. These are typically Investment Managers who have played a role in the assignment of a major new fund ($500,000.00 or more) to the Community Foundation. In such cases, equivalent investment amounts may be assigned to t ...
When is the Government Spending Multiplier Large?
... Our analysis proceeds in two steps. First, we consider an economy with Calvostyle pricing frictions, no capital, and a monetary authority that follows a standard Taylor rule. We study the e!ects of a temporary, unanticipated rise in the discount factor of the representative agent. Other things equal ...
... Our analysis proceeds in two steps. First, we consider an economy with Calvostyle pricing frictions, no capital, and a monetary authority that follows a standard Taylor rule. We study the e!ects of a temporary, unanticipated rise in the discount factor of the representative agent. Other things equal ...
Financial Illiteracy Meets Conflicted Advice: The Case of Thrift
... That survey found that 42 percent of participants rated the TSP as about the same (37 percent) or below (5 percent) other plans. In addition, generally, people tend to think that their financial adviser is providing advice in their best interest, with roughly three out of four indicating that in a s ...
... That survey found that 42 percent of participants rated the TSP as about the same (37 percent) or below (5 percent) other plans. In addition, generally, people tend to think that their financial adviser is providing advice in their best interest, with roughly three out of four indicating that in a s ...
NBER WORKING PAPER SERIES DOMESTIC SAVINGS AND INTERNATIONAL CAPITAL FLOWS
... since housing accounts for roughly half of fixed capital, the overall return will be quite sensitive to the return that local national income accountants (impute on housing. Harberger provides no evidence on the relative importance (of capital flows, trade flows and domestic savings responses in any ...
... since housing accounts for roughly half of fixed capital, the overall return will be quite sensitive to the return that local national income accountants (impute on housing. Harberger provides no evidence on the relative importance (of capital flows, trade flows and domestic savings responses in any ...
NBER WORKING PAPER SERIES TAX POLICY AND INTERNATIONAL COMPETATIVENESS Lawrence H. Summers
... domestic goods factor price frontier. It is clear from Figure 1 that under our assumption that the traded good sector is more capital intensive than the non-traded goods sector, a corporate tax will lower capital intensity in both sectors and reduce the relative price of domestic goods, thereby caus ...
... domestic goods factor price frontier. It is clear from Figure 1 that under our assumption that the traded good sector is more capital intensive than the non-traded goods sector, a corporate tax will lower capital intensity in both sectors and reduce the relative price of domestic goods, thereby caus ...
1 - Hans-Böckler
... to a lesser extent, government spending.1 Cyclically adjusted balances are commonly used as an estimate of the structural balance in order to gain information about the fiscal stance. However, asset price swings are usually not accounted for in the cyclical adjustment. Tax revenues, being an importa ...
... to a lesser extent, government spending.1 Cyclically adjusted balances are commonly used as an estimate of the structural balance in order to gain information about the fiscal stance. However, asset price swings are usually not accounted for in the cyclical adjustment. Tax revenues, being an importa ...
An Introduction to Dividends and Dividend Policy
... with a call from a client back in the 1980s. I had been valuing a family business, Plumley Rubber Company, founded by Mr. Harold Plumley, for a number of years. One day in the latter 1980s, Mr. Plumley called me and asked me to help him establish a formal dividend policy for his company, which was o ...
... with a call from a client back in the 1980s. I had been valuing a family business, Plumley Rubber Company, founded by Mr. Harold Plumley, for a number of years. One day in the latter 1980s, Mr. Plumley called me and asked me to help him establish a formal dividend policy for his company, which was o ...
NBER WORKING PAPER SERIES THE COLLECTION EFFICIENCY OF THE INTERNATIONAL EVIDENCE
... occasionally as “A too easy tax to collect” by advocates of the “Starve the beast” approach to government’s size, versus views that focus on the welfare cost of alternative taxes. A frequently cited advantage of the VAT is that this tax is collected throughout the production chain, giving it a pract ...
... occasionally as “A too easy tax to collect” by advocates of the “Starve the beast” approach to government’s size, versus views that focus on the welfare cost of alternative taxes. A frequently cited advantage of the VAT is that this tax is collected throughout the production chain, giving it a pract ...
Ch7
... Revolution was a temporary burst of inflation. The graph provides dramatic evidence that inflation took off during the last century. ...
... Revolution was a temporary burst of inflation. The graph provides dramatic evidence that inflation took off during the last century. ...
Objectives for Class 24: The Business Cycle and
... production is falling and unemployment is rising. As you will see, this occurs because, for some reason, people are not buying all of the products that can be produced. People who are unemployed because the number of jobs declines as buyers buy fewer products are called cyclically unemployed. (The t ...
... production is falling and unemployment is rising. As you will see, this occurs because, for some reason, people are not buying all of the products that can be produced. People who are unemployed because the number of jobs declines as buyers buy fewer products are called cyclically unemployed. (The t ...
The Business Cycle and Unemployment
... production is falling and unemployment is rising. As you will see, this occurs because, for some reason, people are not buying all of the products that can be produced. People who are unemployed because the number of jobs declines as buyers buy fewer products are called cyclically unemployed. (The t ...
... production is falling and unemployment is rising. As you will see, this occurs because, for some reason, people are not buying all of the products that can be produced. People who are unemployed because the number of jobs declines as buyers buy fewer products are called cyclically unemployed. (The t ...
Financial Statement Analysis and Valuation
... This document describes the spreadsheets and related textual narratives for FSA and valuation that are available for free at http://www.godeohlson.com/. These materials streamline the terminology and organize the topics in a coherent framework, and as a consequence, provide efficient implementation ...
... This document describes the spreadsheets and related textual narratives for FSA and valuation that are available for free at http://www.godeohlson.com/. These materials streamline the terminology and organize the topics in a coherent framework, and as a consequence, provide efficient implementation ...
WELFARE AND NORDIC CRISIS - MANAGEMENT STRATEGIES
... increasing the money supply (“printing money”), monetary policy could be used to hold back the drop in aggregate income, as well as reduce interest rates, making savings less attractive and stimulating investment (Krugman 2012, 32). On the other hand, by increasing government spending (or decreasing ...
... increasing the money supply (“printing money”), monetary policy could be used to hold back the drop in aggregate income, as well as reduce interest rates, making savings less attractive and stimulating investment (Krugman 2012, 32). On the other hand, by increasing government spending (or decreasing ...
3-1 Balance Sheet Balance Sheet Assets Assets
... Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. ...
... Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. ...
trends and cycles in china`s macroeconomy
... share is weak at best. Frictionless two-sector models of capital deepening à la Acemoglu and Guerrieri (2008) assume that (labor-augmented) total factor productivity (TFP) in the capital-intensive sector grows faster than TFP in the labor-intensive sector when the elasticity of substitution between ...
... share is weak at best. Frictionless two-sector models of capital deepening à la Acemoglu and Guerrieri (2008) assume that (labor-augmented) total factor productivity (TFP) in the capital-intensive sector grows faster than TFP in the labor-intensive sector when the elasticity of substitution between ...
The future of international capital flows
... in capital flows will have implications for many policy issues, including, but not limited to: the elimination of data gaps; policies which limit the build-up of balance sheet mismatches; the Basel III international capital and liquidity standards; macroprudential policies; the use of capital contro ...
... in capital flows will have implications for many policy issues, including, but not limited to: the elimination of data gaps; policies which limit the build-up of balance sheet mismatches; the Basel III international capital and liquidity standards; macroprudential policies; the use of capital contro ...
Finance and Economics Discussion Series Federal Reserve Board, Washington, D.C.
... component and potential output as the trend component from these decompositions. We construct new estimates of potential output and the output gap using a multivariate approach that allows for an explicit role for measurement errors in the decomposition of real output. There are a number of advantag ...
... component and potential output as the trend component from these decompositions. We construct new estimates of potential output and the output gap using a multivariate approach that allows for an explicit role for measurement errors in the decomposition of real output. There are a number of advantag ...
PDF
... at time t. The per capita world endowment is ytW = N i=1 nt , where nit is the population in country i and nt is the world population. Before risksharing cit = yit . Next we allow for trade in claims on the endowments. 10 As is shown in van Wincoop [1994], for a specific country the welfare gain fro ...
... at time t. The per capita world endowment is ytW = N i=1 nt , where nit is the population in country i and nt is the world population. Before risksharing cit = yit . Next we allow for trade in claims on the endowments. 10 As is shown in van Wincoop [1994], for a specific country the welfare gain fro ...
THE CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY
... The balance sheets include all of the System’s assets, deferred outflows of resources, liabilities and deferred inflows of resources and provide information about the nature and amounts of investments in resources (assets), future consumption of net position (deferred outflows of resources), the obl ...
... The balance sheets include all of the System’s assets, deferred outflows of resources, liabilities and deferred inflows of resources and provide information about the nature and amounts of investments in resources (assets), future consumption of net position (deferred outflows of resources), the obl ...