... The region has undergone notable economic transformation resulting from sustained high rates of economic growth for many years. A rising share of manufacturing output in gross domestic product and rapid urbanization are but two manifestations of the transformation, which has not, however, been accom ...
How Important is Money in the Conduct of Monetary Policy?∗
... inflation. This was not always accepted — in the 1950s and 1960s, many Keynesian models treated the general price level as given, independent of policy, or only affected by policy under relatively extreme circumstances (when capacity constraints were reached), but not in the most common situation. E ...
... inflation. This was not always accepted — in the 1950s and 1960s, many Keynesian models treated the general price level as given, independent of policy, or only affected by policy under relatively extreme circumstances (when capacity constraints were reached), but not in the most common situation. E ...
ECONOMICS
... ECON 4110* Economics of Education 3(3) Analysis of economic issues related to education. The decision to invest in education, elementary and secondary school markets and reform, the market for college education, teacher labor markets, and education’s effects on economic growth and income distributio ...
... ECON 4110* Economics of Education 3(3) Analysis of economic issues related to education. The decision to invest in education, elementary and secondary school markets and reform, the market for college education, teacher labor markets, and education’s effects on economic growth and income distributio ...
... been alleviated compared to the previous quarter. Problems in credit, real estate and labor markets in many advanced economies are yet to be fully solved. Moreover, uncertainties regarding debt sustainability issues and the impact of a possible fiscal consolidation persist. Furthermore, rapid increa ...
The Fed`s Effect on Excess Returns and Inflation is Bigger Than You
... a central bank, that serves as the numeraire good and as a medium of exchange, and “bonds.” We assume that money and bonds are not perfectly substitutable, and that there is a non-zero demand for money. In an unexpected contractionary move, the central bank decreases the quantity of money. Household ...
... a central bank, that serves as the numeraire good and as a medium of exchange, and “bonds.” We assume that money and bonds are not perfectly substitutable, and that there is a non-zero demand for money. In an unexpected contractionary move, the central bank decreases the quantity of money. Household ...
deflation - Assets - Cambridge University Press
... (Richard Charles Keighley), 1958– II. Siklos, Pierre L., 1955– III. Series. ...
... (Richard Charles Keighley), 1958– II. Siklos, Pierre L., 1955– III. Series. ...
Global Shocks, Global Financial Crises: How can small open economies like
... The world can be a large and dangerous place for a small open economy like New Zealand in the face of global shocks. At present we are coming out of just this type of event – a financial crisis which started with subprime mortgages in the U.S., spread through derivatives to the global banking system ...
... The world can be a large and dangerous place for a small open economy like New Zealand in the face of global shocks. At present we are coming out of just this type of event – a financial crisis which started with subprime mortgages in the U.S., spread through derivatives to the global banking system ...
Stock Market Liquidity and the Business Cycle
... to quality in the sense that liquidity providers shift their liquidity provision towards stocks with low margins. In our Norwegian data set, we find that mutual funds have a stronger tendency to realize the value of their portfolios in small stocks during downturns than the general financial investo ...
... to quality in the sense that liquidity providers shift their liquidity provision towards stocks with low margins. In our Norwegian data set, we find that mutual funds have a stronger tendency to realize the value of their portfolios in small stocks during downturns than the general financial investo ...
How to assess the impact of FDI on an economy?
... II. FDI impact analysis in the economics and international business literature This section relies on work by Julia Wörz, wiiw 1) Impact of FDI on economic growth: the theoretical background Economic theory provides us with many reasons why foreign direct investment may result in enhanced growth pe ...
... II. FDI impact analysis in the economics and international business literature This section relies on work by Julia Wörz, wiiw 1) Impact of FDI on economic growth: the theoretical background Economic theory provides us with many reasons why foreign direct investment may result in enhanced growth pe ...
paper - University of Oxford, Department of Economics
... labour was able to use its bargaining power to raise wages faster than productivity and this resulted in price increases. But there was a variety of other more or less closely related accounts. One was a similar in nature to the idea of unions causing inflation, but had producers with market power r ...
... labour was able to use its bargaining power to raise wages faster than productivity and this resulted in price increases. But there was a variety of other more or less closely related accounts. One was a similar in nature to the idea of unions causing inflation, but had producers with market power r ...
NBER WORKING PAPER SERIES Michael Woodford Working Paper 13325
... inflation. This was not always accepted — in the 1950s and 1960s, many Keynesian models treated the general price level as given, independent of policy, or only affected by policy under relatively extreme circumstances (when capacity constraints were reached), but not in the most common situation. E ...
... inflation. This was not always accepted — in the 1950s and 1960s, many Keynesian models treated the general price level as given, independent of policy, or only affected by policy under relatively extreme circumstances (when capacity constraints were reached), but not in the most common situation. E ...
NBER WORKING PAPER SERIES MONETARY POLICY WHEN POTENTIAL OUTPUT IS UNCERTAIN:
... errors. We consider a continuum of interest policy rules with price level targeting (complete errorcorrection) and inflation targeting (no error-correction) as two extremes. Intermediate cases are equally interesting as they approximate targeting an average inflation rate over several periods. Since ...
... errors. We consider a continuum of interest policy rules with price level targeting (complete errorcorrection) and inflation targeting (no error-correction) as two extremes. Intermediate cases are equally interesting as they approximate targeting an average inflation rate over several periods. Since ...
the eleventh national economic and social development plan
... Several small and medium firms and community enterprises became models for managing businesses through building strong group-based networks and clusters. These businesses examined the local community’s potential for capital, raw materials, knowledge and local experience. They carried out a step-by-s ...
... Several small and medium firms and community enterprises became models for managing businesses through building strong group-based networks and clusters. These businesses examined the local community’s potential for capital, raw materials, knowledge and local experience. They carried out a step-by-s ...
v. saving behaviour and the effectiveness of fiscal policy
... through a variety of channels besides tax discounting. The most direct, incorporated into most conventional aggregate demand models, may arise because a fiscal stimulus boosts disposable income and the propensity to consume out of an extra dollar of income is generally significantly less than one in ...
... through a variety of channels besides tax discounting. The most direct, incorporated into most conventional aggregate demand models, may arise because a fiscal stimulus boosts disposable income and the propensity to consume out of an extra dollar of income is generally significantly less than one in ...
THE GREAT DEPRESSION IN IRVING FISHER`S THOUGHT∗
... become increasingly precarious and vulnerable to bearish speculation, until the crash of October-December, which ended up bringing down even first-rate securities. In 1930 and 1931 Fisher remained basically optimistic about the prospects of the American economy and continued to predict the imminent ...
... become increasingly precarious and vulnerable to bearish speculation, until the crash of October-December, which ended up bringing down even first-rate securities. In 1930 and 1931 Fisher remained basically optimistic about the prospects of the American economy and continued to predict the imminent ...
Monetary Policy Rules: from Adam Smith to John
... When new rational expectations methods led to real business cycle models without a role for monetary policy, this was a “tough time”: the "dark ages" for monetary policy rules research (Taylor 2005). Small group of monetary economists saw themselves as "toiling in the vineyards" (McCallum 1999). A r ...
... When new rational expectations methods led to real business cycle models without a role for monetary policy, this was a “tough time”: the "dark ages" for monetary policy rules research (Taylor 2005). Small group of monetary economists saw themselves as "toiling in the vineyards" (McCallum 1999). A r ...
+ docx - Harvard University
... ahead estimate by one plus the two-year ahead Real GDP Growth Rate Forecast and one plus the two-year ahead inflation rate. We then divide the budget balance forecast (in levels) by our estimated nominal GDP forecasts. In the case of countries where the fiscal year differs from the calendar year bu ...
... ahead estimate by one plus the two-year ahead Real GDP Growth Rate Forecast and one plus the two-year ahead inflation rate. We then divide the budget balance forecast (in levels) by our estimated nominal GDP forecasts. In the case of countries where the fiscal year differs from the calendar year bu ...
The Drivers and Dynamics of Illicit Financial Flows from India: 1948
... This report presents an in-depth study of the issue of illicit financial flows (or illegal capital flight) from India using the World Bank Residual model adjusted for gross trade misinvoicing which excludes illicit inflows through export over-invoicing and import under-invoicing. For reasons enumera ...
... This report presents an in-depth study of the issue of illicit financial flows (or illegal capital flight) from India using the World Bank Residual model adjusted for gross trade misinvoicing which excludes illicit inflows through export over-invoicing and import under-invoicing. For reasons enumera ...
the eleventh national economic and social development plan
... which substantially reduced unemployment. In the long run, productivity will be increased through development of the logistic system, human capital, and distribution of prosperity among regions. In addition, the Philosophy was extensively applied in government agencies to increase their efficiency a ...
... which substantially reduced unemployment. In the long run, productivity will be increased through development of the logistic system, human capital, and distribution of prosperity among regions. In addition, the Philosophy was extensively applied in government agencies to increase their efficiency a ...
MEDIA LAW & POLICY V
... U.S. ranks fifteenth worldwide in broadband adoption and that according to an analysis by the Information Technology and Innovation Foundation (ITIF). The U.S. also trails numerous other countries in price, speed and broadband availability.14 The Obama Administration has stated that it wants to enco ...
... U.S. ranks fifteenth worldwide in broadband adoption and that according to an analysis by the Information Technology and Innovation Foundation (ITIF). The U.S. also trails numerous other countries in price, speed and broadband availability.14 The Obama Administration has stated that it wants to enco ...
issues paper on corruption and economic growth
... growth. In terms of public sector governance indicators, it confirms the importance of the “rule of law”, free from political interference, to facilitate the fair prosecution of perpetrators of corruption, and “voice and accountability” to allow voters to sanction governments which fail to live up t ...
... growth. In terms of public sector governance indicators, it confirms the importance of the “rule of law”, free from political interference, to facilitate the fair prosecution of perpetrators of corruption, and “voice and accountability” to allow voters to sanction governments which fail to live up t ...
Did New Deal Grant Programs Stimulate Local Economies? A Study
... income in cross-sectional comparisons across states. Correlations of state-level per capita personal income and retail sales for the years 1929, 1933, 1935, and 1939 are .87, .89, .88, and .90, respectively. The 1930s was a decade of lost output for the economy as a whole, but there was substantial ...
... income in cross-sectional comparisons across states. Correlations of state-level per capita personal income and retail sales for the years 1929, 1933, 1935, and 1939 are .87, .89, .88, and .90, respectively. The 1930s was a decade of lost output for the economy as a whole, but there was substantial ...
4 Tax contributions by Hyundai in Europe
... 2012, largely due to exports to the US and emerging markets8. Moreover, the sector is dynamic and highly innovative. The industry invests €26 billion, or 5% of turnover, in R&D every year, which rises to €32.8 billion when including trucks, commercial vehicles and parts. The focus of innovation is o ...
... 2012, largely due to exports to the US and emerging markets8. Moreover, the sector is dynamic and highly innovative. The industry invests €26 billion, or 5% of turnover, in R&D every year, which rises to €32.8 billion when including trucks, commercial vehicles and parts. The focus of innovation is o ...
Estimating NAIRU for the Turkish Economy Using Extended Kalman Filter Approach Vuslat US
... framework combines an Okun-type relationship between output gap and unemployment gap with a Phillips curve equation, and also imposes stochastic laws of motion for NAIRU and potential output, while assuming the parameters to be time-varying. However, the requirement to simultaneously estimate parame ...
... framework combines an Okun-type relationship between output gap and unemployment gap with a Phillips curve equation, and also imposes stochastic laws of motion for NAIRU and potential output, while assuming the parameters to be time-varying. However, the requirement to simultaneously estimate parame ...
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).