High Discounts and High Unemployment
... of the canon of the model, Mortensen and Pissarides (1994), is: What force depresses the payoff to job creation in recessions? In that paper, and in hundreds of successor papers, the force is a drop in productivity. But that characterization runs into three problems: First, unemployment did not trac ...
... of the canon of the model, Mortensen and Pissarides (1994), is: What force depresses the payoff to job creation in recessions? In that paper, and in hundreds of successor papers, the force is a drop in productivity. But that characterization runs into three problems: First, unemployment did not trac ...
NBER WORKING PAPER SERIES CONDITIONS Robert E. Hall
... in the equation for the growth of debt that corresponds to raising the primary deficit by 0.97 percent of GDP per year. This raises the primary deficit from its average value in the data of 0.06 percent of GDP to an average of 1.03 percent. Figure 5 demonstrates that the debt does not spiral out of ...
... in the equation for the growth of debt that corresponds to raising the primary deficit by 0.97 percent of GDP per year. This raises the primary deficit from its average value in the data of 0.06 percent of GDP to an average of 1.03 percent. Figure 5 demonstrates that the debt does not spiral out of ...
The Effects of Fiscal Policy on Consumption and
... about two years after the shock with private output increasing by 0.3%. The spending shock itself is very persistent with a half-life of about five years. On the revenue side, the short-run dynamics of net taxes differ substantially from the evolution of expenditures. Tax revenues reach the level of ...
... about two years after the shock with private output increasing by 0.3%. The spending shock itself is very persistent with a half-life of about five years. On the revenue side, the short-run dynamics of net taxes differ substantially from the evolution of expenditures. Tax revenues reach the level of ...
2. - IS MU
... a debt-financed tax cut has no effect on consumption, national saving, the real interest rate, investment, net exports, or real GDP, even in the short run. ...
... a debt-financed tax cut has no effect on consumption, national saving, the real interest rate, investment, net exports, or real GDP, even in the short run. ...
MDG Strategy Analysis: Methods and an Agenda for
... Together with other determinants, government social services determine the "production" of MDGs. MDGs are modeled as being “produced” by a combination of factors or determinants (table following) using a (reduced) functional form that permits: – Imposition of limits (maximum or minimum) given by log ...
... Together with other determinants, government social services determine the "production" of MDGs. MDGs are modeled as being “produced” by a combination of factors or determinants (table following) using a (reduced) functional form that permits: – Imposition of limits (maximum or minimum) given by log ...
WIFO-Layout Century Gothic 10 Punkt
... However, there is no guarantee that the world economy will not be hit by a second wave of problems and at the least there will be echo effects and periods where stock prices might decline. As far as unemployment, and probably also as far as insolvencies, are concerned the “Current Crisis” is not ove ...
... However, there is no guarantee that the world economy will not be hit by a second wave of problems and at the least there will be echo effects and periods where stock prices might decline. As far as unemployment, and probably also as far as insolvencies, are concerned the “Current Crisis” is not ove ...
The Zero Bound on Nominal Interest Rates
... low level of inflation, typically below 1 or 2 per cent. The second set of factors that are important for determining the probability of hitting the zero bound are those that affect the variability of short-term nominal interest rates. As discussed in the previous section, central banks adjust short ...
... low level of inflation, typically below 1 or 2 per cent. The second set of factors that are important for determining the probability of hitting the zero bound are those that affect the variability of short-term nominal interest rates. As discussed in the previous section, central banks adjust short ...
F Stock Prices and the Equity Premium during the Recent Bull and
... decades, while the median rates of appreciation of stocks in the lowest seven deciles fell considerably. In the ensuing bear market, the gap between the top deciles and the lower deciles closed sharply as the median rates of appreciation of stocks in the top deciles dropped even more sharply than th ...
... decades, while the median rates of appreciation of stocks in the lowest seven deciles fell considerably. In the ensuing bear market, the gap between the top deciles and the lower deciles closed sharply as the median rates of appreciation of stocks in the top deciles dropped even more sharply than th ...
The Risks of Sovereign Lending: Lessons from History
... Most of the defaults in the 1820s were by new countries still struggling for their freedom. The demand for loans arose from the need for armaments to protect the borrowers' newly won independence and maintain internal order, not for investments in productive capacity that could repay, the loans. Bet ...
... Most of the defaults in the 1820s were by new countries still struggling for their freedom. The demand for loans arose from the need for armaments to protect the borrowers' newly won independence and maintain internal order, not for investments in productive capacity that could repay, the loans. Bet ...
The sustainability of public finances lies at the core of sound
... sector that emerged from the 1997 financial crisis in East Asia added approximately 50% of GDP to the stock of government debt in Indonesia, 30% in Thailand and over 20% in Japan and Korea. Similar schemes in the 1980’s generated a fiscal cost of over 40% of GDP in Chile and approximately 25% in Cot ...
... sector that emerged from the 1997 financial crisis in East Asia added approximately 50% of GDP to the stock of government debt in Indonesia, 30% in Thailand and over 20% in Japan and Korea. Similar schemes in the 1980’s generated a fiscal cost of over 40% of GDP in Chile and approximately 25% in Cot ...
Bartlett , Will Prica , Ivana. 'Interdependence between Core and Peripheries of the European Economy: Secular Stagnation and Growth in the Western Balkans' LEQS Paper No. 104, February 2016
... The essence of the problem was that the Eurozone lacked an EU-wide “bank resolution” mechanism. When banks get into difficulties in normal countries, their own central banks have the ability to step in and bail them out (or recapitalise them) if needed, and can subject such banks to reorganisations ...
... The essence of the problem was that the Eurozone lacked an EU-wide “bank resolution” mechanism. When banks get into difficulties in normal countries, their own central banks have the ability to step in and bail them out (or recapitalise them) if needed, and can subject such banks to reorganisations ...
national-income-and-price-determination--sample
... If there is an inflationary gap, which of the following accurately describes the adjustment to long-run equilibrium? a. Nominal wages decrease, and the aggregate demand curve shifts left until the economy reaches long-run equilibrium. b. Nominal wages increase, and the aggregate demand curve shifts ...
... If there is an inflationary gap, which of the following accurately describes the adjustment to long-run equilibrium? a. Nominal wages decrease, and the aggregate demand curve shifts left until the economy reaches long-run equilibrium. b. Nominal wages increase, and the aggregate demand curve shifts ...
Market for Loanable Funds
... • The supply of loanable funds comes from people who have extra income they want to save and lend out. • The demand for loanable funds comes from households and firms that wish to borrow to make investments. ...
... • The supply of loanable funds comes from people who have extra income they want to save and lend out. • The demand for loanable funds comes from households and firms that wish to borrow to make investments. ...
Democratisation and tax structure: Greece versus Europe from a
... population and, at the same time, at the expense of the urban population. This occurred because the Greek economy was an almost barter economy, especially in the countryside, and so the rural population was able to evade indirect taxes through self-consumption. In contrast, the population in urban r ...
... population and, at the same time, at the expense of the urban population. This occurred because the Greek economy was an almost barter economy, especially in the countryside, and so the rural population was able to evade indirect taxes through self-consumption. In contrast, the population in urban r ...
N5 Lifeskills Homework - Budgeting, Planning, Choice and Cost 1
... Fiona places her savings in her local bank. Her savings go into a high-interest account with a variable rate of interest. Calculate the total compound interest and the balance in her account at the end of 3 years if she initially invests £3400 with interest rates of 21%, 27% and 30%. ...
... Fiona places her savings in her local bank. Her savings go into a high-interest account with a variable rate of interest. Calculate the total compound interest and the balance in her account at the end of 3 years if she initially invests £3400 with interest rates of 21%, 27% and 30%. ...
Public Commentary on Unemployment
... May 2016), those not in the labor force currently wanting a job increased to 4.736 million in May 2016 (a total of 6.449 million). That net of 4.736 million was against 3.956 million in April 2016, 3.726 million in March 2016, 4.146 million in February 2016, 4.077 million in January 2016, 3.872 mill ...
... May 2016), those not in the labor force currently wanting a job increased to 4.736 million in May 2016 (a total of 6.449 million). That net of 4.736 million was against 3.956 million in April 2016, 3.726 million in March 2016, 4.146 million in February 2016, 4.077 million in January 2016, 3.872 mill ...
Using neural networks and data mining techniques for the financial
... the purpose of hiding the actual status of the company, then investors will have even less chance of obtaining the real financial information. For example, a company can manipulate its current ratio by up to 200% so that its liquidity deficiency will not show up as a financial distress in the short run ...
... the purpose of hiding the actual status of the company, then investors will have even less chance of obtaining the real financial information. For example, a company can manipulate its current ratio by up to 200% so that its liquidity deficiency will not show up as a financial distress in the short run ...
Beyond their Borders Evolution of foreign investment by
... the playing field for pension funds. There are significantly more people retiring today than there were even a decade ago and their numbers will continue to increase in the coming years. This is putting pressure on pension funds’ investment strategies and calling into question their risk estimations ...
... the playing field for pension funds. There are significantly more people retiring today than there were even a decade ago and their numbers will continue to increase in the coming years. This is putting pressure on pension funds’ investment strategies and calling into question their risk estimations ...
Macroeconomic Policy Advice and the Article IV Consultations:
... age is a standard recommendation, without any correlation to a country’s life expectancy. Although slowing population growth can have important benefits (not the least of which is reduced pressure on the world’s resources and climate change), an aging population is seen throughout these agreements a ...
... age is a standard recommendation, without any correlation to a country’s life expectancy. Although slowing population growth can have important benefits (not the least of which is reduced pressure on the world’s resources and climate change), an aging population is seen throughout these agreements a ...
Monetary Policy C H A P T E R C H E C K L I S T
... The time lags in the adjustment process are not predictable, but the average time lags are known. After the Fed takes action, real GDP begins to change about one year later and the inflation rate responds with a lag that averages around two years. This long time lag between the Fed’s action and a ch ...
... The time lags in the adjustment process are not predictable, but the average time lags are known. After the Fed takes action, real GDP begins to change about one year later and the inflation rate responds with a lag that averages around two years. This long time lag between the Fed’s action and a ch ...
The Money Supply and the Federal Reserve System
... currently at Point A. A decrease in the interest rate to 5%, ceteris paribus, will likely A) decrease the quantity of money demanded from $200 million to $100 million. B) increase the quantity of money demanded from $100 million to $200 million. C) increase the quantity of money demanded from ...
... currently at Point A. A decrease in the interest rate to 5%, ceteris paribus, will likely A) decrease the quantity of money demanded from $200 million to $100 million. B) increase the quantity of money demanded from $100 million to $200 million. C) increase the quantity of money demanded from ...
17.1 HOW THE FED CONDUCTS MONETARY POLICY
... The time lags in the adjustment process are not predictable, but the average time lags are known. ...
... The time lags in the adjustment process are not predictable, but the average time lags are known. ...
Presentation before the Council of Ministers Erdem Başçı Governor
... The upward trend of current account deficit has been taken under control starting from the last quarter of 2011. ...
... The upward trend of current account deficit has been taken under control starting from the last quarter of 2011. ...