Six Years of Inflation Targeting
... to ignore Australia, and financial markets were by and large sceptical. There were reasons for such scepticism. One was that it is easy to say you will keep inflation low when it has come down in circumstances of a recessed economy, but another to keep it there under conditions of stronger growth. T ...
... to ignore Australia, and financial markets were by and large sceptical. There were reasons for such scepticism. One was that it is easy to say you will keep inflation low when it has come down in circumstances of a recessed economy, but another to keep it there under conditions of stronger growth. T ...
Nominal GDP Targeting as an Alternative Framework for Monetary
... back to full employment, which is the same situation as in the classic Keynesian liquidity trap. The difference lies in the fact that in Krugman‘s model not just fiscal, but also monetary policy can revive the economy. To achieve the required negative real interest rate, the economy needs expected i ...
... back to full employment, which is the same situation as in the classic Keynesian liquidity trap. The difference lies in the fact that in Krugman‘s model not just fiscal, but also monetary policy can revive the economy. To achieve the required negative real interest rate, the economy needs expected i ...
Monetary Policy, Fiscal Policy, and Secular Stagnation at the Zero
... Figure 15 Life Expectancy and Effective Retirement Age in the Eurozone.......................... 16 Figure 16 Income Inequality in the Eurozone........................................................................ 16 Figure 17 Income Distribution in the Eurozone by Quintile ....................... ...
... Figure 15 Life Expectancy and Effective Retirement Age in the Eurozone.......................... 16 Figure 16 Income Inequality in the Eurozone........................................................................ 16 Figure 17 Income Distribution in the Eurozone by Quintile ....................... ...
studies and PERSPECTIves the caribbean
... In the face of weak global growth in major export markets the Caribbean economies have underperformed. The situation is much more severe among service producers1 which have suffered the decline in tourist arrivals and offshore banking services. The goods producers have benefited from the commodity b ...
... In the face of weak global growth in major export markets the Caribbean economies have underperformed. The situation is much more severe among service producers1 which have suffered the decline in tourist arrivals and offshore banking services. The goods producers have benefited from the commodity b ...
IC
... The initial work on this paper was done during a visit to the Institute of International Economic Studies, University of Stockholm, in May 1988. I am grateful for conversations with the research staff and visitors at the Institute, particularly Cuillermo Calvo, Torsten Persson, and Lars Svensson. Th ...
... The initial work on this paper was done during a visit to the Institute of International Economic Studies, University of Stockholm, in May 1988. I am grateful for conversations with the research staff and visitors at the Institute, particularly Cuillermo Calvo, Torsten Persson, and Lars Svensson. Th ...
Investing in Ontario`s Infrastructure for Economic Growth
... use of public utilities such as roads, railways, and human capital from a well-educated labour force. At the same time, there are several public sector infrastructure investments, such as highways and sewers, which could not have been profitably provided by the private sector. For these services it ...
... use of public utilities such as roads, railways, and human capital from a well-educated labour force. At the same time, there are several public sector infrastructure investments, such as highways and sewers, which could not have been profitably provided by the private sector. For these services it ...
The optimal mix of monetary and fiscal policy
... government is required by determinacy. Given this, reaction to the output gap, either by …scal or by monetary policy, does not have drastic implications for determinacy. Second, turning now to optimal policy, and within the determinacy areas speci…ed above, the best policy mix is simple: government ...
... government is required by determinacy. Given this, reaction to the output gap, either by …scal or by monetary policy, does not have drastic implications for determinacy. Second, turning now to optimal policy, and within the determinacy areas speci…ed above, the best policy mix is simple: government ...
international-business-7th-edition-griffin-test-bank
... 26) What is the most likely reason that Germany is considered the most important member of the EU? A) Germany has the world's fourth largest economy. B) Germany's government promotes human rights. C) Germany initially suggested developing the EU. D) Germany uses a codetermination system. Answer: A ...
... 26) What is the most likely reason that Germany is considered the most important member of the EU? A) Germany has the world's fourth largest economy. B) Germany's government promotes human rights. C) Germany initially suggested developing the EU. D) Germany uses a codetermination system. Answer: A ...
Current Account Reversals: Always a Problem?
... connections between the two phenomena are clear. Recall Fischer’s (1988) caution that the “primary indicator [of a looming crisis] is the current account deficit.”4 At the same time, crises – currency crises in particular – were lower in frequency under the gold standard than in recent years.5 Indee ...
... connections between the two phenomena are clear. Recall Fischer’s (1988) caution that the “primary indicator [of a looming crisis] is the current account deficit.”4 At the same time, crises – currency crises in particular – were lower in frequency under the gold standard than in recent years.5 Indee ...
Countermeasures and Suggestions for Resource-based Industrial
... Since the reform and opening-up policy, the change of regional industrial structure of China, in particular, the rapid development of export processing industry, which creates enormous market demands for resource-based industries such as the coal, minerals products etc, giving a strong impetus to th ...
... Since the reform and opening-up policy, the change of regional industrial structure of China, in particular, the rapid development of export processing industry, which creates enormous market demands for resource-based industries such as the coal, minerals products etc, giving a strong impetus to th ...
The importance of unemployment insurance as an automatic stabilizer
... counties by including counties …xed e¤ects, as well as for the interaction between the Bartik shock and the fraction of subprime borrowers in the pre-period. However, one potential concern with these estimates is the possibility that they might be driven by unobserved heterogeneity across counties, ...
... counties by including counties …xed e¤ects, as well as for the interaction between the Bartik shock and the fraction of subprime borrowers in the pre-period. However, one potential concern with these estimates is the possibility that they might be driven by unobserved heterogeneity across counties, ...
Investment a Major Driver, Except in Countries Plagued by
... financial crisis (see Table 1). In 2016-2017 the group will experience some modest growth deceleration on account of the recent consumption boom coming to an end and a temporary decline in EU transfers. Growth will be most robust in Romania and Poland, given the solid household consumption in both c ...
... financial crisis (see Table 1). In 2016-2017 the group will experience some modest growth deceleration on account of the recent consumption boom coming to an end and a temporary decline in EU transfers. Growth will be most robust in Romania and Poland, given the solid household consumption in both c ...
Technological Diversification Miklos Koren and Silvana Tenreyro
... Empirical Observation 3. Firm-level volatility and aggregate volatility tend to comove positively. As said, this observation holds for the countries for which we have data and helps di¤erentiate our paper from …nancial-diversi…cation models that predict a negative comovement between micro and macro ...
... Empirical Observation 3. Firm-level volatility and aggregate volatility tend to comove positively. As said, this observation holds for the countries for which we have data and helps di¤erentiate our paper from …nancial-diversi…cation models that predict a negative comovement between micro and macro ...
Nigeria`s renewal: Delivering inclusive growth in Africa`s
... We define the “consuming class” as households with annual incomes of $7,500 per year and up. In Nigeria, we use an estimate of average household size of 4.7 people, based on the Canback Global Income Distribution Database (C-GIDD). ...
... We define the “consuming class” as households with annual incomes of $7,500 per year and up. In Nigeria, we use an estimate of average household size of 4.7 people, based on the Canback Global Income Distribution Database (C-GIDD). ...
The Inflation Target Ten Years On
... Now this fall in inflation has led to sharp reductions in nominal interest rates, at both short and long time horizons, as shown in Table 2. That reflects both lower inflation expectations and smaller risk premia to compensate for future inflation uncertainty. The total inflation premium – the sum o ...
... Now this fall in inflation has led to sharp reductions in nominal interest rates, at both short and long time horizons, as shown in Table 2. That reflects both lower inflation expectations and smaller risk premia to compensate for future inflation uncertainty. The total inflation premium – the sum o ...
Inflation - ProEducate
... governments, and for the purpose of comparing absolute, rather than relative standards of living, various economists have calculated imputed inflation figures. Most inflation data before the early 20th century is imputed based on the known costs of goods, rather than compiled at the time. It is also ...
... governments, and for the purpose of comparing absolute, rather than relative standards of living, various economists have calculated imputed inflation figures. Most inflation data before the early 20th century is imputed based on the known costs of goods, rather than compiled at the time. It is also ...
free sample here
... 10) Which country has the highest per capita income in North America? A) the United States B) Central America C) Canada D) Mexico Answer: A Diff: 1 Skill: Concept Objective: 2 11) The countries of North America produce approximately ________ percent of the world's output. A) 18 B) 26 C) 45 D) 52 Ans ...
... 10) Which country has the highest per capita income in North America? A) the United States B) Central America C) Canada D) Mexico Answer: A Diff: 1 Skill: Concept Objective: 2 11) The countries of North America produce approximately ________ percent of the world's output. A) 18 B) 26 C) 45 D) 52 Ans ...
The Effects of Fiscal Policy on Employment: an
... has larger effects on output during downturn, implying a larger multiplier also for employment during recessions. Indeed, when the output is below its potential, there is room to raise the endowment of factors without increasing wage levels or capital remuneration, which would increase inflation, da ...
... has larger effects on output during downturn, implying a larger multiplier also for employment during recessions. Indeed, when the output is below its potential, there is room to raise the endowment of factors without increasing wage levels or capital remuneration, which would increase inflation, da ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... McChesney Martin stated that “[t]he objective of the System is always the same—to promote monetary and credit conditions that will foster sustained economic growth together with stability in the value of the dollar.” To this end, he stressed the importance of price stability: “Price stability is ess ...
... McChesney Martin stated that “[t]he objective of the System is always the same—to promote monetary and credit conditions that will foster sustained economic growth together with stability in the value of the dollar.” To this end, he stressed the importance of price stability: “Price stability is ess ...
Inflation and Unemployment: What is the Connection?
... of economists. For some time, it was believed that there was a trade-off between the two that policymakers could exploit. In other words, a lower unemployment rate could be had by tolerating a higher rate of inflation. That notion is no longer widely held, at least as regards the long run. While min ...
... of economists. For some time, it was believed that there was a trade-off between the two that policymakers could exploit. In other words, a lower unemployment rate could be had by tolerating a higher rate of inflation. That notion is no longer widely held, at least as regards the long run. While min ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: NBER Macroeconomics Annual 1986, Volume 1
... that large technology shocks are more likely than large aggregate stochastic shifts in tastes. We relax this assumption in constructing our IIlustrative monetary and real business cycle models in sections 3 and 4. The absence of shocks to government purchases or tax rates can be explained by the nat ...
... that large technology shocks are more likely than large aggregate stochastic shifts in tastes. We relax this assumption in constructing our IIlustrative monetary and real business cycle models in sections 3 and 4. The absence of shocks to government purchases or tax rates can be explained by the nat ...
public - Europa.eu
... Once a Member State is subject to an Excessive Deficit Procedure (EDP) – the corrective arm of the Stability and Growth Pact (SGP) – the Commission regularly assesses whether it is acting in compliance with the Council recommendation under Article 126(7) TFEU or notice under Article 126(9). 1 That i ...
... Once a Member State is subject to an Excessive Deficit Procedure (EDP) – the corrective arm of the Stability and Growth Pact (SGP) – the Commission regularly assesses whether it is acting in compliance with the Council recommendation under Article 126(7) TFEU or notice under Article 126(9). 1 That i ...
4 The macroeconomic impact of the 2004-2006 EU funds
... apply to Latvia. The Latvian economy has exhibited a faster growth rate of real GDP in recent years than in the 1990s. In the period 1995-2000, real GDP grew by only 5.4 percent per year, on average, compared to 8.2 percent in the 2000-2005 period. In 2006, real GDP even increased by 11.9 percent. S ...
... apply to Latvia. The Latvian economy has exhibited a faster growth rate of real GDP in recent years than in the 1990s. In the period 1995-2000, real GDP grew by only 5.4 percent per year, on average, compared to 8.2 percent in the 2000-2005 period. In 2006, real GDP even increased by 11.9 percent. S ...
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).