Fiscal Policy and the Current Account
... corroborate each other. The sample includes about a hundred countries over a period of more than two decades. The estimates distinguish among advanced and emerging/low-income countries; more and less open economies; and country-years with small and large output gaps. While the analysis was also cond ...
... corroborate each other. The sample includes about a hundred countries over a period of more than two decades. The estimates distinguish among advanced and emerging/low-income countries; more and less open economies; and country-years with small and large output gaps. While the analysis was also cond ...
When are the Effects of Fiscal Policy Uncertainty Large?
... define short-run fiscal policy to be the government spending levels and the tax rates that are effective while the household discount factor is elevated. I model an increase in uncertainty about short-run fiscal policy as a mean-preserving spread in the distribution of the fiscal instruments. In th ...
... define short-run fiscal policy to be the government spending levels and the tax rates that are effective while the household discount factor is elevated. I model an increase in uncertainty about short-run fiscal policy as a mean-preserving spread in the distribution of the fiscal instruments. In th ...
answer key - U of L Personal Web Sites
... occurs when the population is growing. occurs when output is growing. occurs when there is an increase in goods and services per person. improves the distribution of income. Ans: C ...
... occurs when the population is growing. occurs when output is growing. occurs when there is an increase in goods and services per person. improves the distribution of income. Ans: C ...
Premium Margins and Managing the - mynl.com
... elements are included with losses, so L, Ll and hence r, rl are the only random variables in the above equations. This means that retro premiums are netted out of the losses rather than being added to the premium. Losses, expenses and premiums are all expressed as present values, and so include inve ...
... elements are included with losses, so L, Ll and hence r, rl are the only random variables in the above equations. This means that retro premiums are netted out of the losses rather than being added to the premium. Losses, expenses and premiums are all expressed as present values, and so include inve ...
Leverage
... Leverage is generally defined as the ratio of the percentage change in profits to the percentage change in sales. In other words, leverage is the multiplying effect that fixed costs have on profits when there is any change in sales. As sales increases or decreases, it is only the variable costs that ...
... Leverage is generally defined as the ratio of the percentage change in profits to the percentage change in sales. In other words, leverage is the multiplying effect that fixed costs have on profits when there is any change in sales. As sales increases or decreases, it is only the variable costs that ...
The Principle of Effective Demand and the State of Post Keynesian
... is then not profitable for firms to expand output beyond the point of effective demand. In terms of Figure 1, unilateral attempts by entrepreneurs to increase output and employment will depress aggregate demand prices below aggregate supply prices and losses will result. Ou ...
... is then not profitable for firms to expand output beyond the point of effective demand. In terms of Figure 1, unilateral attempts by entrepreneurs to increase output and employment will depress aggregate demand prices below aggregate supply prices and losses will result. Ou ...
CHAPTER 15: Macroeconomic Issues and Policy
... a. The Fed is likely to increase the interest rate during times of high output and low inflation. b. The Fed is likely to lower the interest rate during times of low output and low inflation. c. The Fed is likely to lower the interest rate during times of high output and low inflation. d. The Fed is ...
... a. The Fed is likely to increase the interest rate during times of high output and low inflation. b. The Fed is likely to lower the interest rate during times of low output and low inflation. c. The Fed is likely to lower the interest rate during times of high output and low inflation. d. The Fed is ...
SOCIAL INDICATORS AND TRUE COMPARISONS OF LIVING
... average for the period 1975–80, taken from United Nations (1989). This measure is based on the notional expected life of newborn infants if they were to face current age-specific mortality rates throughout their future lives. It is the single most widely-used measure of the health of a nation. The a ...
... average for the period 1975–80, taken from United Nations (1989). This measure is based on the notional expected life of newborn infants if they were to face current age-specific mortality rates throughout their future lives. It is the single most widely-used measure of the health of a nation. The a ...
The exchange rate and the monetary transmission mechanism in
... Identified Vector Autoregressions (VARs) are a useful tool to empirically examine the MTM because they allow to separate the endogenous reaction of the monetary authorities to developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used t ...
... Identified Vector Autoregressions (VARs) are a useful tool to empirically examine the MTM because they allow to separate the endogenous reaction of the monetary authorities to developments in the economy from exogenous monetary impulses. The estimated effects of such policy shocks can then be used t ...
Answers to Questions: Chapter 8
... imports rise as income rises. The increase in government spending is likely to increase the budget deficit, although not as much as the rise in spending since the higher level of income generates more tax revenue. 10. a. Real output decreases and interest rate increases via the IS-LM analysis. Thus, ...
... imports rise as income rises. The increase in government spending is likely to increase the budget deficit, although not as much as the rise in spending since the higher level of income generates more tax revenue. 10. a. Real output decreases and interest rate increases via the IS-LM analysis. Thus, ...
An Explanation of the Greek Crisis: “The Insiders – Outsiders Society”
... seventies to about 170% of GDP, presently.11 Note that, over the last fifteen years total gross public debt as a share of GDP in Greece has been more than 35-67 percentage points higher than that of the Euro area average. Obviously, to the extent that the Greek public debt and deficit figures system ...
... seventies to about 170% of GDP, presently.11 Note that, over the last fifteen years total gross public debt as a share of GDP in Greece has been more than 35-67 percentage points higher than that of the Euro area average. Obviously, to the extent that the Greek public debt and deficit figures system ...
How Worried Should We Be about Wagner, Baumol and Ageing?
... In welfare state research, a distinction is often made between cash benefits and benefits in kind. The former consists of income transfers and social insurance schemes; the latter largely consists of a set of welfare services (such as schooling, health care and elder care) that are mainly or entire ...
... In welfare state research, a distinction is often made between cash benefits and benefits in kind. The former consists of income transfers and social insurance schemes; the latter largely consists of a set of welfare services (such as schooling, health care and elder care) that are mainly or entire ...
Fiscal Multiplier in a Liquidity Constrained New Keynesian Economy∗
... In the DEFK model, the economy is populated with a large number of identical households. Each household consists of two types of members (entrepreneurs and workers) and can save in two types of …nancial assets (government bonds and private equity). The two types of …nancial assets di¤er in the degr ...
... In the DEFK model, the economy is populated with a large number of identical households. Each household consists of two types of members (entrepreneurs and workers) and can save in two types of …nancial assets (government bonds and private equity). The two types of …nancial assets di¤er in the degr ...
Figure 8-12 Responses of the Inflation Rate (p)
... continuous inflation. Along the SP curve, the economy is not in a long run equilibrium because the price level is constantly racing ahead of the nominal wage rage. There will be continuous pressures for higher wages. As labor contracts fail to anticipate further inflation, and as a result they fai ...
... continuous inflation. Along the SP curve, the economy is not in a long run equilibrium because the price level is constantly racing ahead of the nominal wage rage. There will be continuous pressures for higher wages. As labor contracts fail to anticipate further inflation, and as a result they fai ...
View/Open
... availability. A similar problem crops up at the firm level (see Petersen and Rajan 1994). For both reasons, external debt is included in the analysis, just as in Chirinko and Schaller (1995), although its impact on investment decisions may be a priori unpredictable. The real exchange rate can also a ...
... availability. A similar problem crops up at the firm level (see Petersen and Rajan 1994). For both reasons, external debt is included in the analysis, just as in Chirinko and Schaller (1995), although its impact on investment decisions may be a priori unpredictable. The real exchange rate can also a ...
del06 mundaca 2762891 en
... necessary consequence of adverse fundamentals. Our model also presents an “endogenouspolicy” model of currency crises such as the ones pioneered by Obstfeld (1986, 1994). The government rationally chooses – on the basis of their assessment of costs and benefits in terms of social welfare - whether o ...
... necessary consequence of adverse fundamentals. Our model also presents an “endogenouspolicy” model of currency crises such as the ones pioneered by Obstfeld (1986, 1994). The government rationally chooses – on the basis of their assessment of costs and benefits in terms of social welfare - whether o ...
Incomplete Exchange Rate Pass-Through and Simple - S
... the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly the exchange rate) from their zero targets.9 Equation (7a), setting ρ = 0, is the simple rule suggested by Ta ...
... the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly the exchange rate) from their zero targets.9 Equation (7a), setting ρ = 0, is the simple rule suggested by Ta ...
Has the U.S. Economy Become Less Interest Rate Sensitive?
... durable goods manufacturing, experienced the largest decreases in responsiveness over time. But many industries in the service sector, such as retail trade and trade, transportation, and utilities, experienced similar declines. The industry with the largest overall decline in interest sensitivity wa ...
... durable goods manufacturing, experienced the largest decreases in responsiveness over time. But many industries in the service sector, such as retail trade and trade, transportation, and utilities, experienced similar declines. The industry with the largest overall decline in interest sensitivity wa ...
Low Henry N. Goldstein SHOULD WE FRET ABOUT OUR NET
... United States highly vulnerable to a cutoff of foreign investment funds. Thus, Alan Greenspan (1989, p. 15) has argued: The U.S. [budget] deficits of recent years are threatening precisely because they have been occurring in the context of private saving that is low by both historical and internatio ...
... United States highly vulnerable to a cutoff of foreign investment funds. Thus, Alan Greenspan (1989, p. 15) has argued: The U.S. [budget] deficits of recent years are threatening precisely because they have been occurring in the context of private saving that is low by both historical and internatio ...
Reassessing Discretionary Fiscal Policy
... enough that the real interest rate rises. I11 developing this framework, I first assume that inflation is the only variable in the monetary policy rule, though in reality, as shown below, real output appears too. The second relationship is between real GDP and the real interest 1-ate-analogous to a ...
... enough that the real interest rate rises. I11 developing this framework, I first assume that inflation is the only variable in the monetary policy rule, though in reality, as shown below, real output appears too. The second relationship is between real GDP and the real interest 1-ate-analogous to a ...
Demography and the Long-Run Predictability of the Stock Market
... postwar period and increased participation in the stock market, have also been used to justify the bull market of the 1950s.4 The period of declining stock prices from 1966 to 1982 has spawned fewer rationales, as documented by the well-known paper by Franco Modigliani and Richard Cohn.5 They argued ...
... postwar period and increased participation in the stock market, have also been used to justify the bull market of the 1950s.4 The period of declining stock prices from 1966 to 1982 has spawned fewer rationales, as documented by the well-known paper by Franco Modigliani and Richard Cohn.5 They argued ...
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... (0.1% of GDP); Renewal of schools premises (0.2% of GDP); Investment (and support to investment) in energy and telecommunications infrastructure (0.2% of GDP). ...
... (0.1% of GDP); Renewal of schools premises (0.2% of GDP); Investment (and support to investment) in energy and telecommunications infrastructure (0.2% of GDP). ...
The Tenth Development Plan (2014-2018)
... European Network of Transmission System Operators for Electricity European Patent Convention Energy Performance Contract European Union European Community Statistical Office Movement of Enhancing Opportunities and Improving Technology Free on Board Full-time Equivalent Group of 20 Southeastern Anato ...
... European Network of Transmission System Operators for Electricity European Patent Convention Energy Performance Contract European Union European Community Statistical Office Movement of Enhancing Opportunities and Improving Technology Free on Board Full-time Equivalent Group of 20 Southeastern Anato ...
Chile: 2016 Article IV Consultation-Press Release
... and reliance on foreign currency debt. Domestically, the main risks are a delayed recovery in business confidence and investment related to larger the expected uncertainties surrounding a new labor bill. Also, should a pension reform be approved, an increase in contribution rates could dampen growth ...
... and reliance on foreign currency debt. Domestically, the main risks are a delayed recovery in business confidence and investment related to larger the expected uncertainties surrounding a new labor bill. Also, should a pension reform be approved, an increase in contribution rates could dampen growth ...
Why foreign savings fail to cause growth - Bresser
... Although foreign indebtedness is an old problem, the idea of growth with foreign savings assumed its character of deliberate strategy and became dominant only in the 90's. It was then followed by the financial opening of developing countries and by the great increase in capital flows towards them. ...
... Although foreign indebtedness is an old problem, the idea of growth with foreign savings assumed its character of deliberate strategy and became dominant only in the 90's. It was then followed by the financial opening of developing countries and by the great increase in capital flows towards them. ...