The international dimension of confidence shocks - ECB
... Overall, our analysis provides robust evidence that confidence shocks play some role in business cycle fluctuations. At the same time, we show that confidence shocks have a strong global component, supporting their relevance in international business cycles. The plan of the paper is as follows: Sect ...
... Overall, our analysis provides robust evidence that confidence shocks play some role in business cycle fluctuations. At the same time, we show that confidence shocks have a strong global component, supporting their relevance in international business cycles. The plan of the paper is as follows: Sect ...
Finance and Economics Discussion Series Federal Reserve Board, Washington, D.C.
... estimated parameter values, variance decompositions, impulse response functions, and estimated paths of the exogenous processes driving the model. The equations that characterize equilibrium in this model are contained in the appendix. Appendix A reports the equations of the symmetric and stationary ...
... estimated parameter values, variance decompositions, impulse response functions, and estimated paths of the exogenous processes driving the model. The equations that characterize equilibrium in this model are contained in the appendix. Appendix A reports the equations of the symmetric and stationary ...
Sticky Information and Non-pricing Policies in DSGE Models by Benedetto Molinari
... in support of this intuition. Finally, by the mean of a welfare analysis we show that despite the higher consumption generated by advertising, consumers are always worse off with advertising. Welfare losses are driven in the model by the ”overworking” effect ...
... in support of this intuition. Finally, by the mean of a welfare analysis we show that despite the higher consumption generated by advertising, consumers are always worse off with advertising. Welfare losses are driven in the model by the ”overworking” effect ...
The United States of Walmart: Economics 226 Module 4
... According to some studies, Wal-Mart dictates control over prices so as to affect the United States Consumer Price Index as a whole. As stated by Global Insight, “We found that the expansion of Wal-Mart over the period 1985-2004 can be associated with a cumulative decline of 9.1% in food-at-home pric ...
... According to some studies, Wal-Mart dictates control over prices so as to affect the United States Consumer Price Index as a whole. As stated by Global Insight, “We found that the expansion of Wal-Mart over the period 1985-2004 can be associated with a cumulative decline of 9.1% in food-at-home pric ...
Essays on Non-Price Competition and Macroeconomics TESI DOCTORAL UPF / 2009 Francesco Turino
... effect of advertisements on sales. Firms realize that the demand they face is not exogenously a product of consumers’ preferences, but instead that it can be tilted toward their own products through advertisements. Building on this fact, we ask whether such relationships would hold in the aggregate. ...
... effect of advertisements on sales. Firms realize that the demand they face is not exogenously a product of consumers’ preferences, but instead that it can be tilted toward their own products through advertisements. Building on this fact, we ask whether such relationships would hold in the aggregate. ...
International Doctorate in Economic Analysis Departament d’Economia i d’Història Econòmica
... the theoretical intuition that, during periods of adverse financial conditions, private agents are more likely to become liquidity constrained thus finding it hard to optimally smoothen their consumption along time. In turn, fiscal shocks will have relatively more pronounced effects on private deman ...
... the theoretical intuition that, during periods of adverse financial conditions, private agents are more likely to become liquidity constrained thus finding it hard to optimally smoothen their consumption along time. In turn, fiscal shocks will have relatively more pronounced effects on private deman ...
See ANAdotstat for detailed information on the database
... GDP by the three approaches, disposable income and net lending/net borrowing) for all countries and zones. For the main aggregate series (see part 3), data are also linked backwards to provide long time series wherever possible. Data are then control-coded by an “E” to indicate estimates. Power and ...
... GDP by the three approaches, disposable income and net lending/net borrowing) for all countries and zones. For the main aggregate series (see part 3), data are also linked backwards to provide long time series wherever possible. Data are then control-coded by an “E” to indicate estimates. Power and ...
Information, Animal Spirits, and the Meaning of Innovations in
... noise, nor are they simply re‡ections of information contained in other variables with which they are correlated. The fact that con…dence innovations have implications for consumption and income many periods in the future suggests that there is at least some truth to the news view of con…dence. Perm ...
... noise, nor are they simply re‡ections of information contained in other variables with which they are correlated. The fact that con…dence innovations have implications for consumption and income many periods in the future suggests that there is at least some truth to the news view of con…dence. Perm ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Fiscal Institutions and Fiscal Performance
... Sorensen is assistant professor of economics at Brown University. Oved Yosha is senior lecturer at the Berglas School of Economics, Tel Aviv University. The authors thank Charles Goodhart for encouraging them to investigate risk-sharing patterns in Europe and Alex Cukierman, Manfred Neumann, Assaf R ...
... Sorensen is assistant professor of economics at Brown University. Oved Yosha is senior lecturer at the Berglas School of Economics, Tel Aviv University. The authors thank Charles Goodhart for encouraging them to investigate risk-sharing patterns in Europe and Alex Cukierman, Manfred Neumann, Assaf R ...
... This innovation is still in progress. Revising the national accounts, or discussing how they should be revised, is a major ongoing activity. The System of National Accounts, or SNA, has been revised from its 1968 standard and is undergoing further revision (United Nations 1993, 1998). Individual nat ...
Yeoman
... outpaces growth of economic output as measured in Gross Domestic Product (GDP). With a European GDP atInternational 1.6% pa, 1995-2015, arrivals have grown 2.1 Arrivals:international Percentage Change times faster than GDP. An average rate of 3.5% pa. ...
... outpaces growth of economic output as measured in Gross Domestic Product (GDP). With a European GDP atInternational 1.6% pa, 1995-2015, arrivals have grown 2.1 Arrivals:international Percentage Change times faster than GDP. An average rate of 3.5% pa. ...
Chapter 30
... What is monetary policy, and who conducts it? What is fiscal policy, and who conducts it? Compute the budget balance. Is there a budget deficit or surplus? ...
... What is monetary policy, and who conducts it? What is fiscal policy, and who conducts it? Compute the budget balance. Is there a budget deficit or surplus? ...
By How Much Does GDP Rise If the Government Buys More Output?
... arises from the fact that the government, as the nation’s agent for collective action, may have uses for output that exceed the private value of the output. For example, law enforcement is underprovided by private action and may be underprovided by current government action. If the increase in gover ...
... arises from the fact that the government, as the nation’s agent for collective action, may have uses for output that exceed the private value of the output. For example, law enforcement is underprovided by private action and may be underprovided by current government action. If the increase in gover ...
NBER WORKING PAPER SERIES Robert E. Hall Working Paper 15496
... varying extents, these estimates include adjustments for the factors such as taxes that may correct downward biases in the simple regressions. The paper then turns to models, specifically those derived from the blending of neoclassical and Keynesian macro theory that has flourished in the past decad ...
... varying extents, these estimates include adjustments for the factors such as taxes that may correct downward biases in the simple regressions. The paper then turns to models, specifically those derived from the blending of neoclassical and Keynesian macro theory that has flourished in the past decad ...
Effects of Fiscal Policy on Consumer Confidence
... explanation as to why consumer confidence affects spending and output. In some matters such as politics, people may be uninformed or have little desire to form an opinion on the matter if it does not directly affect their lives. Economics is different because people have no choice. They must form op ...
... explanation as to why consumer confidence affects spending and output. In some matters such as politics, people may be uninformed or have little desire to form an opinion on the matter if it does not directly affect their lives. Economics is different because people have no choice. They must form op ...
chapter 21 consumption and investment
... Producers and consumers make their production and consumption decisions simultaneously and independently of each other. This simple observation may help to explain why the economy can, at times, slide into recession and at other times bound into prosperity. For example, if production exceeds consump ...
... Producers and consumers make their production and consumption decisions simultaneously and independently of each other. This simple observation may help to explain why the economy can, at times, slide into recession and at other times bound into prosperity. For example, if production exceeds consump ...
Principles of Economics Third Edition by Fred Gottheil
... 2. Expectations of price changes. • An expectation of inflation could cause an increase in the current level of consumption, even though incomes are not expected to change. The increase in consumption would shift the curve upward. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
... 2. Expectations of price changes. • An expectation of inflation could cause an increase in the current level of consumption, even though incomes are not expected to change. The increase in consumption would shift the curve upward. Gottheil - Principles of Economics, 4e © 2005 Thomson ...
imPortanCe oF tHe BranD For ConsUmer PUrCHasinG DeCision in
... Brand knowledge and brand value are the factors that affect the customer`s decision by product purchasing. Therefore, is necessary to identify how is the company brand or product brand known and preferred by consumers and how this brand impacts purchasing the product. Last year, a research in a samp ...
... Brand knowledge and brand value are the factors that affect the customer`s decision by product purchasing. Therefore, is necessary to identify how is the company brand or product brand known and preferred by consumers and how this brand impacts purchasing the product. Last year, a research in a samp ...
NBER WORKING PAPER SERIES AN EVALUATION OF THEORY AND EVIDENCE B. Douglas Bernheim
... equivalence, it is essential to distinguish between the short run effects of government borrowing (primarily the potential for stimulating aggregate demand) and the long run effects (primarily the potential for depressing capital accumulation). I argue that the theoretical case for long run neutrali ...
... equivalence, it is essential to distinguish between the short run effects of government borrowing (primarily the potential for stimulating aggregate demand) and the long run effects (primarily the potential for depressing capital accumulation). I argue that the theoretical case for long run neutrali ...
expenditure plans and real gdp
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
TOURISM SATELLITE ACCOUNT IN ISRAEL
... Despite the fact that Israeli tourism consumption rose in 2004 by 75%, compared with that of 1995, no significant change has occurred in total tourism consumption, and it has dropped by only 1%, because the tourism consumption of foreign tourists dropped by 41% (Table C). With regard to the change ...
... Despite the fact that Israeli tourism consumption rose in 2004 by 75%, compared with that of 1995, no significant change has occurred in total tourism consumption, and it has dropped by only 1%, because the tourism consumption of foreign tourists dropped by 41% (Table C). With regard to the change ...
This PDF is a selection from a published volume from... Bureau of Economic Research
... business cycles over the last thirty years. As is well known, over this period the economy experienced three main cycles. In each case, the common narrative behind these cycles has been that they were in large part driven by demand (residential investment demand in the 2000s, “tech” investment deman ...
... business cycles over the last thirty years. As is well known, over this period the economy experienced three main cycles. In each case, the common narrative behind these cycles has been that they were in large part driven by demand (residential investment demand in the 2000s, “tech” investment deman ...
expenditure plans and real gdp
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
... 2. Equilibrium expenditure increases by $2 trillion from $9 trillion to $11 trillion. 3. The increase in equilibrium expenditure is 4 times the increase in investment, so the multiplier is 4 ...
I. Production Possibility Frontier (PPF)
... the number of apples increases by 8. The slope from C to D is -15/8. The reason for the negative slope is quite straightforward. Because resources are limited, in order to produce more apples, the other product (grapes) must be sacrificed. Thus between C and D, in order to produce 8 more apples, the ...
... the number of apples increases by 8. The slope from C to D is -15/8. The reason for the negative slope is quite straightforward. Because resources are limited, in order to produce more apples, the other product (grapes) must be sacrificed. Thus between C and D, in order to produce 8 more apples, the ...
Consumerism
Consumerism as a social and economic order and ideology encourages the acquisition of goods and services in ever-increasing amounts. Early criticisms of consumerism occur in 1899 in the works of Thorstein Veblen. Veblen's subject of examination, the newly emergent middle class arising at the turn of the twentieth century,came to fruition by the end of the twentieth century through the process of globalization.In the domain of politics, the term ""consumerism"" has also been used to refer to something quite different called the consumerists' movement, consumer protection or consumer activism, which seeks to protect and inform consumers by requiring such practices as honest packaging and advertising, product guarantees, and improved safety standards. In this sense it is a political movement or a set of policies aimed at regulating the products, services, methods, and standards of manufacturers, sellers, and advertisers in the interests of the buyer.In the domain of economics, ""consumerism"" refers to economic policies placing emphasis on consumption. In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice by manufacturers of what is produced and how, and therefore orient the economic organization of a society (compare producerism, especially in the British sense of the term). In this sense, consumerism expresses the idea not of ""one man, one voice"", but of ""one dollar, one voice"", which may or may not reflect the contribution of people to society.Overall, since the end of the twentieth century, the burgeoning of consumerism as a way of life across all domains has remade politics, economics and culture: