Chapter 4: Commodity Price Swings and Commodity Exporters
... on the level of public net debt—at high levels of debt, debt reduction should become a priority to help reduce the sovereign risk premium and build credibility. Furthermore, for some commodity market shocks and under some circumstances, a less countercyclical policy response in major commodity expor ...
... on the level of public net debt—at high levels of debt, debt reduction should become a priority to help reduce the sovereign risk premium and build credibility. Furthermore, for some commodity market shocks and under some circumstances, a less countercyclical policy response in major commodity expor ...
NBER WORKING PAPER SERIES MACROECONOMICS AND VOLATILITY: DATA, MODELS, AND ESTIMATION Jesús Fernández-Villaverde
... of the economy, and for policy analysis. In this chapter, we first review the different mechanisms proposed in the literature to generate changes in volatility similar to the ones observed in the data. Second, we document the quantitative importance of time-varying volatility in aggregate time serie ...
... of the economy, and for policy analysis. In this chapter, we first review the different mechanisms proposed in the literature to generate changes in volatility similar to the ones observed in the data. Second, we document the quantitative importance of time-varying volatility in aggregate time serie ...
Cyclicality of Fiscal Policy over the Business Cycle: An Empirical
... unemployed increase. Therefore, with no explicit action by the state, when an economy enters into recession, government revenues start decreasing and government spending start increasing. The opposite is true for times of economic booms. Thus, automatic stabilizers are often associated with counterc ...
... unemployed increase. Therefore, with no explicit action by the state, when an economy enters into recession, government revenues start decreasing and government spending start increasing. The opposite is true for times of economic booms. Thus, automatic stabilizers are often associated with counterc ...
Ph.D. Thesis: Essays in Monetary and Fiscal Policy
... the change of the labor income tax is three times smaller and the response of government spending is one order of magnitude larger compared to the case with debt dynamics. My results for the balanced budget case suggest that, inability of households to smooth their consumption by running down their ...
... the change of the labor income tax is three times smaller and the response of government spending is one order of magnitude larger compared to the case with debt dynamics. My results for the balanced budget case suggest that, inability of households to smooth their consumption by running down their ...
NBER WORKING PAPER SERIES INTERPRETING THE GREAT MODERATION:
... timing to that for overall GDP, but the size of the sector and its contribution to GDP volatility are modest. Thus, the drop in GDP volatility appears most closely related to developments in the durable goods sector. Figure 3 demonstrates this point in a different way by plotting the volatility (me ...
... timing to that for overall GDP, but the size of the sector and its contribution to GDP volatility are modest. Thus, the drop in GDP volatility appears most closely related to developments in the durable goods sector. Figure 3 demonstrates this point in a different way by plotting the volatility (me ...
OCR A Level Economics H460
... students across the ability range. The classroom is where the majority of students will be introduced to the study of economics. It’s within this environment that they will confront issues, tackle the challenges that these issues raise, and engage in debate and discussion with fellow students. ...
... students across the ability range. The classroom is where the majority of students will be introduced to the study of economics. It’s within this environment that they will confront issues, tackle the challenges that these issues raise, and engage in debate and discussion with fellow students. ...
PDF Download
... basis for long-term economic growth. The application of this idea in the empirical regional science also suggests that regional growth is stimulated by the existence of numerous innovative industries and/or industries in the rapid-growth phase of the product life-cycle, and is retarded by the strong ...
... basis for long-term economic growth. The application of this idea in the empirical regional science also suggests that regional growth is stimulated by the existence of numerous innovative industries and/or industries in the rapid-growth phase of the product life-cycle, and is retarded by the strong ...
... This is the fortieth annual Economic and Social Survey o f Asia and the Pacific (until 1974 entitled the Economic Survey o f Asia and the Far East). The Survey is divided into two parts, as in previous years. Part one is devoted to a survey of current economic developments in the region in the persp ...
mehr...
... procurement can be used as an innovation policy tool (for overviews, see Edler and Georghiou, 2007; OECD, 2011). For instance, some major initiatives have been launched at the European level to encourage public authorities to focus their procurement spending on innovative products and services (EU, ...
... procurement can be used as an innovation policy tool (for overviews, see Edler and Georghiou, 2007; OECD, 2011). For instance, some major initiatives have been launched at the European level to encourage public authorities to focus their procurement spending on innovative products and services (EU, ...
The Impact of Regional and Sectoral Productivity Changes on the U.S. Economy,
... The major part of research in macroeconomics has traditionally emphasized aggregate disturbances as sources of aggregate changes.1 Exceptions to this approach were Long and Plosser (1983), and Horvath (1998, 2000) who posited that because of input-output linkages, productivity disturbances at the le ...
... The major part of research in macroeconomics has traditionally emphasized aggregate disturbances as sources of aggregate changes.1 Exceptions to this approach were Long and Plosser (1983), and Horvath (1998, 2000) who posited that because of input-output linkages, productivity disturbances at the le ...
Macroeconomic Effects of Federal Reserve Forward Guidance
... the Blue Chip consensus forecasts of the unemployment rate and consumer price index (CPI) inflation respond to the policy innovations identified by Gürkaynak and others (2005). For the sample period February 1994 to June 2007, a positive innovation to future federal funds rates is associated with de ...
... the Blue Chip consensus forecasts of the unemployment rate and consumer price index (CPI) inflation respond to the policy innovations identified by Gürkaynak and others (2005). For the sample period February 1994 to June 2007, a positive innovation to future federal funds rates is associated with de ...
An Examination on the Determinants of Inflation
... transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. GDP growth ( ...
... transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. GDP growth ( ...
IMF Staff Papers Vol. 48 No. 3, 2001
... resources from it. Given that society is composed of multiple self-interested groups who act noncooperatively, no single group has any incentive to constrain its demand for resources. Velasco (1997) suggests the common pool model as a reason for the perpetuation of fiscal deficits over time. Lane an ...
... resources from it. Given that society is composed of multiple self-interested groups who act noncooperatively, no single group has any incentive to constrain its demand for resources. Velasco (1997) suggests the common pool model as a reason for the perpetuation of fiscal deficits over time. Lane an ...
THE CYCLICAL CONDUCT OF ESTONIAN FISCAL POLICY
... resulting from not reaching it. During an economic downturn, as the government works to employ idle resources, economic activity falls less than it would have in the absence of government intervention (Courtois 2009: 3). Macroeconomists debate over what policies they can and should pursue to reduce ...
... resulting from not reaching it. During an economic downturn, as the government works to employ idle resources, economic activity falls less than it would have in the absence of government intervention (Courtois 2009: 3). Macroeconomists debate over what policies they can and should pursue to reduce ...
Download Full Article
... by the World Bank, it was submitted by (Emy Prihtiyani: 2011) (4)., And economist for the World Bank Indonesia (Shubham Chudori: 2011) (5). According Hasanuddin Aco: 2010(6), cheapest currency today is Zimbabwe. Talking about the redenomination, Zimbabwe is one country that is quite aggressive condu ...
... by the World Bank, it was submitted by (Emy Prihtiyani: 2011) (4)., And economist for the World Bank Indonesia (Shubham Chudori: 2011) (5). According Hasanuddin Aco: 2010(6), cheapest currency today is Zimbabwe. Talking about the redenomination, Zimbabwe is one country that is quite aggressive condu ...
... recovery notwithstanding, the international environment in the short term seems significantly less harsh than in the early 1980s. However, the recession has left some undesirable imprints yet to be effaced. Restrictions to the free flow of world trade continue, real interest rates in world capital m ...
The euro area fiscal stance - ECB
... zero lower bound. In this case, one would need to state explicitly how fiscal policy would be used, such rules being more difficult to specify and enforce in practice than parallel rules for monetary policy. See also the discussion in Box 2. ...
... zero lower bound. In this case, one would need to state explicitly how fiscal policy would be used, such rules being more difficult to specify and enforce in practice than parallel rules for monetary policy. See also the discussion in Box 2. ...
S1100676_en.pdf
... Latin American countries stand to reap substantial benefits. In the first place, increasing the access of senior officials to information signals may reduce the problems caused by uncertainty about the current and future “state of the world”, the structure of the economy and other types of uncertain ...
... Latin American countries stand to reap substantial benefits. In the first place, increasing the access of senior officials to information signals may reduce the problems caused by uncertainty about the current and future “state of the world”, the structure of the economy and other types of uncertain ...
The Great Inflation in the United States and the United Kingdom
... views of the economy. Such an approach has been pursued by Romer and Romer (2002, 2004), Orphanides (2003), and others in the study of U.S. 1970s policymaking, and is continued in this paper. The emphasis that this approach gives to the importance of policymakers’ views also brings the study of the ...
... views of the economy. Such an approach has been pursued by Romer and Romer (2002, 2004), Orphanides (2003), and others in the study of U.S. 1970s policymaking, and is continued in this paper. The emphasis that this approach gives to the importance of policymakers’ views also brings the study of the ...
LSE | International Development | Prizewinning Dissertations | 2014 - Momchil Petkov, International Capital Flows
... through a variety of channels such as restricted access to credit, bankruptcies, trade, and destruction of human capital (Calvo 1998). The empirical literature so has far focused on domestic factors as causes of sudden stops and has defined sudden stops using net capital flows (Cavallo and Frankel 2 ...
... through a variety of channels such as restricted access to credit, bankruptcies, trade, and destruction of human capital (Calvo 1998). The empirical literature so has far focused on domestic factors as causes of sudden stops and has defined sudden stops using net capital flows (Cavallo and Frankel 2 ...
cera-economic-recovery-programme-for-greater
... impressively sustained throughout this period of seismic activity, due in no small part to the embracing of innovation as a key driver of business continuity. This recovery will provide further opportunities as new initiatives, focused on innovation in the key sectors of agri-science, high value man ...
... impressively sustained throughout this period of seismic activity, due in no small part to the embracing of innovation as a key driver of business continuity. This recovery will provide further opportunities as new initiatives, focused on innovation in the key sectors of agri-science, high value man ...
Open Access - Lund University Publications
... an average annual rate of 10%, it is the world's main source of low-cost manufacturing and regarded as "world factory". In 2009,China overtook Germany become the world's largest exporter, and overtook Japan in 2010, become the second largest economy after the United States. China’s outstanding perfo ...
... an average annual rate of 10%, it is the world's main source of low-cost manufacturing and regarded as "world factory". In 2009,China overtook Germany become the world's largest exporter, and overtook Japan in 2010, become the second largest economy after the United States. China’s outstanding perfo ...
Post–World War II economic expansion
""Golden Age of capitalism"" redirects here. Other periods this term may refer to are Gilded Age and Belle Époque.The post–World War II economic expansion, also known as the postwar economic boom, the long boom, and the Golden Age of Capitalism, was a period of economic prosperity in the mid-20th century which occurred, following the end of World War II in 1945, and lasted until the early 1970s. It ended with the collapse of the Bretton Woods system in 1971, the 1973 oil crisis, and the 1973–1974 stock market crash, which led to the 1970s recession. Narrowly defined, the period spanned from 1945 to 1952, with overall growth lasting well until 1971, though there are some debates on dating the period, and booms in individual countries differed, some starting as early as 1945, and overlapping the rise of the East Asian economies into the 1980s or 1990s.During this time there was high worldwide economic growth; Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment. Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Greece (Greek economic miracle), West Germany (Wirtschaftswunder), France (Trente Glorieuses), Japan (Japanese post-war economic miracle), and Italy (Italian economic miracle).