July 2011 minutes - Lars E.O. Svensson
... area given the problems with weak public finances in several of the countries. In the nearterm, it is the situation in Greece that is creating a great deal of uncertainty and risks with regard to financial stability in Europe. In the slightly longer term, however, there are also obvious problems in ...
... area given the problems with weak public finances in several of the countries. In the nearterm, it is the situation in Greece that is creating a great deal of uncertainty and risks with regard to financial stability in Europe. In the slightly longer term, however, there are also obvious problems in ...
Public investment boosted private investment in Brazil between
... afforded by the potentially favorable effects of the Plan’s price stabilization with regard to the tendency of entrepreneurs to invest, as stated by Bielschowsky (2002). The reduction in public investment in the second half of the 1990s was marked, on one hand, by the absolute contraction of the GFC ...
... afforded by the potentially favorable effects of the Plan’s price stabilization with regard to the tendency of entrepreneurs to invest, as stated by Bielschowsky (2002). The reduction in public investment in the second half of the 1990s was marked, on one hand, by the absolute contraction of the GFC ...
Working Paper 135/13 THE PSYCHOLOGY AND ECONOMICS OF
... decumulating wealth. Moreover, as Merton (2007) points out, “one does not need to be an expert to know that it is probably far from optimal bequest policy, from the point of view of the heirs’ utility, to receive the value of the house as a legacy at some time in the future – perhaps next year, perh ...
... decumulating wealth. Moreover, as Merton (2007) points out, “one does not need to be an expert to know that it is probably far from optimal bequest policy, from the point of view of the heirs’ utility, to receive the value of the house as a legacy at some time in the future – perhaps next year, perh ...
The Eurozone Crisis - Institute for New Economic Thinking
... The never ending crisis of the Eurozone The Eurozone entered a recession in the first quarter of 2008, and quarterly growth rates collapsed in the first quarter of 2009, when the financial crisis hit Europe full-force. The combined real GDP (2008Q1 = 100) of the 18 Eurozone countries fell by a cumu ...
... The never ending crisis of the Eurozone The Eurozone entered a recession in the first quarter of 2008, and quarterly growth rates collapsed in the first quarter of 2009, when the financial crisis hit Europe full-force. The combined real GDP (2008Q1 = 100) of the 18 Eurozone countries fell by a cumu ...
Estimating New Zealand’s neutral interest rate AN2015/05 September 2015
... current level. The Bank continually monitors the economy for possible changes in the neutral interest rate. This includes a broad assessment of consumer attitudes towards debt and risk, the economy’s potential growth rate, and international developments. Signs that the neutral rate may be changing a ...
... current level. The Bank continually monitors the economy for possible changes in the neutral interest rate. This includes a broad assessment of consumer attitudes towards debt and risk, the economy’s potential growth rate, and international developments. Signs that the neutral rate may be changing a ...
marx`s economic theory and contemporary capitalism
... unemployment and higher inflation, and hence also of the lower real wages, of recent decades. As in periods of depression of the past, the decline in the rate of profit reduced the rate of capital accumulation, which in turn has resulted in slower growth and higher rates of unemployment. One importa ...
... unemployment and higher inflation, and hence also of the lower real wages, of recent decades. As in periods of depression of the past, the decline in the rate of profit reduced the rate of capital accumulation, which in turn has resulted in slower growth and higher rates of unemployment. One importa ...
QUIZ 2: Macro – Winter 2002 - The University of Chicago Booth
... c. Shift both the Money Demand (MD) and Money Supply (MS) curves to the right. Question 2 (1 point each – 5 points total) Circle all true answers to the following statement. Assume that the income effects on labor supply (NS) are large relative to the substitution effects on labor supply. A fall in ...
... c. Shift both the Money Demand (MD) and Money Supply (MS) curves to the right. Question 2 (1 point each – 5 points total) Circle all true answers to the following statement. Assume that the income effects on labor supply (NS) are large relative to the substitution effects on labor supply. A fall in ...
Balance Sheet Effects, Bailout Guarantees and Financial Crises (2004, Review of Economic Studies)
... government commits to a bailout, the manager can commit to pay lenders at least in states where he defaults and a bailout takes place. Guarantees thus permit more leverage. A self-fulfilling crisis occurs as follows. Suppose the price of N-goods falls. N-sector cash flow also falls and there are wid ...
... government commits to a bailout, the manager can commit to pay lenders at least in states where he defaults and a bailout takes place. Guarantees thus permit more leverage. A self-fulfilling crisis occurs as follows. Suppose the price of N-goods falls. N-sector cash flow also falls and there are wid ...
NBER WORKING PAPER SERIES Craig Burnside Martin Eichenbaum
... We consider a standard small open economy model populated by a representative, inÞnitely lived agent who can borrow and lend at a Þxed interest rate in world capital markets. Agents in the economy consume tradable and nontradable goods and receive endowments of both goods. In addition to allowing fo ...
... We consider a standard small open economy model populated by a representative, inÞnitely lived agent who can borrow and lend at a Þxed interest rate in world capital markets. Agents in the economy consume tradable and nontradable goods and receive endowments of both goods. In addition to allowing fo ...
Dynamics of Budget Deficit and Macroeconomic Fundamentals
... macroeconomic variables. They argue that budget deficits lead to higher interest rates, discourages the issue of private bonds, private investments, and private spending, increases inflation level, and cause a similar increase in the current account deficits and finally slows the growth of the econo ...
... macroeconomic variables. They argue that budget deficits lead to higher interest rates, discourages the issue of private bonds, private investments, and private spending, increases inflation level, and cause a similar increase in the current account deficits and finally slows the growth of the econo ...
International spill-overs of uncertainty shocks: Evidence from a FAVAR
... The effects of the Global Financial Crisis, although it originated in the US, have been felt around the world. Despite large amounts of monetary and fiscal stimulus in the US and other countries, most advanced economies have experienced prolonged and synchronised downturns. Recently economists are r ...
... The effects of the Global Financial Crisis, although it originated in the US, have been felt around the world. Despite large amounts of monetary and fiscal stimulus in the US and other countries, most advanced economies have experienced prolonged and synchronised downturns. Recently economists are r ...
![Ch 8 Basic Macro Relationships [Building AE 1] [AP]](http://s1.studyres.com/store/data/008217109_1-2db3ccec916917dc25d98b9756691d43-300x300.png)
Ch 8 Basic Macro Relationships [Building AE 1] [AP]
... 1. Suppose that the following conditions describe the current U.S. economy. - The unemployment rate is 5% - Inflation is 2% - Real GDP is growing at the rate of 3% I. First assume that the federal government increases its spending and increases taxes so as to maintain a balanced budget. Using AD/AS ...
... 1. Suppose that the following conditions describe the current U.S. economy. - The unemployment rate is 5% - Inflation is 2% - Real GDP is growing at the rate of 3% I. First assume that the federal government increases its spending and increases taxes so as to maintain a balanced budget. Using AD/AS ...
Materials
... BACKGROUND: At its May meeting, the Board of Visitors considers the proposed operating budgets for the Academic Division, The University of Virginia's College at Wise, and the Medical Center. At its April meeting, the Board of Visitors approved tuition, mandatory fees, housing, and dining rates for ...
... BACKGROUND: At its May meeting, the Board of Visitors considers the proposed operating budgets for the Academic Division, The University of Virginia's College at Wise, and the Medical Center. At its April meeting, the Board of Visitors approved tuition, mandatory fees, housing, and dining rates for ...
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... timber cash yields are a snapshot based on a single quarter’s return, whereas in practice timberland is typically valued by discounting up to 50 years’ worth of cash flows. Moreover, timberland owners may choose to accelerate or delay timber harvesting based on market conditions—for example, leaving ...
... timber cash yields are a snapshot based on a single quarter’s return, whereas in practice timberland is typically valued by discounting up to 50 years’ worth of cash flows. Moreover, timberland owners may choose to accelerate or delay timber harvesting based on market conditions—for example, leaving ...
active learning
... The value of these transactions is evidently $100,000,000, i.e. $20,000,000 worth of bread plus $50,000,000 worth of coal plus $30,000,000 worth of cloth. The equation of exchange therefore (remember that the money side consisted of $5,000,000 exchanged 20 times) is as follows:— $5,000,000 × 20 time ...
... The value of these transactions is evidently $100,000,000, i.e. $20,000,000 worth of bread plus $50,000,000 worth of coal plus $30,000,000 worth of cloth. The equation of exchange therefore (remember that the money side consisted of $5,000,000 exchanged 20 times) is as follows:— $5,000,000 × 20 time ...
ch6_IM_1E
... projects are best thought of as consisting of a series of contingent cash flows over time, whose amount and timing are partially under the control of management. The objective of capital budgeting procedures is to assure that only projects which increase shareholder value (or at least do not reduce ...
... projects are best thought of as consisting of a series of contingent cash flows over time, whose amount and timing are partially under the control of management. The objective of capital budgeting procedures is to assure that only projects which increase shareholder value (or at least do not reduce ...
Washington Mutual – largest bank failure in US history
... * CDs are FDIC insured up to $250,000 through 12/31/2009, offer a fixed rate of return, and are not subject to market volatility. Equity investments are subject to market volatility and have greater risk than CDs and other cash investments. 1 Continuous or periodic investment plans neither assure a ...
... * CDs are FDIC insured up to $250,000 through 12/31/2009, offer a fixed rate of return, and are not subject to market volatility. Equity investments are subject to market volatility and have greater risk than CDs and other cash investments. 1 Continuous or periodic investment plans neither assure a ...
Economics: Explore and Apply 1/e by Ayers and Collinge Chapter
... The Incentive Effects of Taxation In addition to regulation, taxes can also affect growth. A tax on savings increases the market interest rate and discourages investment. Taxing the return to savings shifts the supply of savings to the left. There is concern over the low personal savings rate i ...
... The Incentive Effects of Taxation In addition to regulation, taxes can also affect growth. A tax on savings increases the market interest rate and discourages investment. Taxing the return to savings shifts the supply of savings to the left. There is concern over the low personal savings rate i ...
Country Report Lao PDR - Millennium Development Goals Indicators
... Need more investment, particularly in the rural areas, in antenatal care, in the training of more birth attendants and in the promotion of maternal health at the community level. ...
... Need more investment, particularly in the rural areas, in antenatal care, in the training of more birth attendants and in the promotion of maternal health at the community level. ...
34 The Influence of Monetary and Fiscal Policy on Aggregate Demand
... not be the cause of fluctuations, so it should avoid sudden changes in fiscal and monetary policy, and (2) the government should respond to changes in the private economy in order to stabilize it. For example, if consumer pessimism reduces aggregate demand, the proper amount of expansionary monetar ...
... not be the cause of fluctuations, so it should avoid sudden changes in fiscal and monetary policy, and (2) the government should respond to changes in the private economy in order to stabilize it. For example, if consumer pessimism reduces aggregate demand, the proper amount of expansionary monetar ...
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... Governing Council might have reached its decisions, we test which decision rule aggregates the counterfactual national interest rate paths we derived best to the EONIA path. First, we consider a political economy scenario as in Hayo and Méon (2011) and Riboni and Ruge-Murcia (2010) where the governo ...
... Governing Council might have reached its decisions, we test which decision rule aggregates the counterfactual national interest rate paths we derived best to the EONIA path. First, we consider a political economy scenario as in Hayo and Méon (2011) and Riboni and Ruge-Murcia (2010) where the governo ...
NBER WORKING PAPER SERIES DOES STOCK MARKET PERFORMANCE INFLUENCE RETIREMENT INTENTIONS?
... control for local labor and housing market conditions in a more precise way than previous studies. We can match respondents with county-level unemployment rates and MSA-level house price indices. 1 This is important because the weak labor market brought on by the recession may increase the amount of ...
... control for local labor and housing market conditions in a more precise way than previous studies. We can match respondents with county-level unemployment rates and MSA-level house price indices. 1 This is important because the weak labor market brought on by the recession may increase the amount of ...
Working Paper no 15/2005 Title: A bottom
... For excise duties (which are defined in DKK-amounts and are not automatically indexed to prices), the fiscal easing and reduction in revenues (fiscal drag), which is implied by unchanged rates when prices rise, is considered discretionary policy. The neutral path for each type of excise duty is thus ...
... For excise duties (which are defined in DKK-amounts and are not automatically indexed to prices), the fiscal easing and reduction in revenues (fiscal drag), which is implied by unchanged rates when prices rise, is considered discretionary policy. The neutral path for each type of excise duty is thus ...
NBER WORKING PAPER SERIES GAME OVER: SIMULATING UNSUSTAINABLE FISCAL POLICY
... Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify. Official debt is plagued with a number of measurement difficulties since its measurement reflects the choice of words, not policies. And forming the fiscal gap–the imbalance in the gove ...
... Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify. Official debt is plagued with a number of measurement difficulties since its measurement reflects the choice of words, not policies. And forming the fiscal gap–the imbalance in the gove ...