Fiscal Consolidations Under Imperfect Credibility
... member of a currency union (CU henceforth), without the means to exert any meaningful in‡uence on currency union policy rates and its nominal exchange rate. The latter case, we believe, is the most interesting one given the current situation for many European peripheral economies. Our main …ndings a ...
... member of a currency union (CU henceforth), without the means to exert any meaningful in‡uence on currency union policy rates and its nominal exchange rate. The latter case, we believe, is the most interesting one given the current situation for many European peripheral economies. Our main …ndings a ...
NBER WORKING PAPER SERIES ENDOGENOUS MONEY OR STICKY PRICES? Peter N. Ireland
... more general policy rule nests, as one class of special cases, interest rate rules of the kind proposed by Taylor (1993), according to which the nominal interest rate is set as a function of output and inßation. It also nests, as another class of special cases, money growth rules like those studied ...
... more general policy rule nests, as one class of special cases, interest rate rules of the kind proposed by Taylor (1993), according to which the nominal interest rate is set as a function of output and inßation. It also nests, as another class of special cases, money growth rules like those studied ...
How would a fiscal shock in Germany affect other European countries?
... Commission (in ‘t Veld, 2013) point to more sizable spillover effects: a two-year increase in government investment in Germany totaling 1% of GDP increases real GDP in other euro area countries by between 0.2% and 0.3%. In a more recent paper, in ‘t Veld (2016) shows that an investment-based fiscal ...
... Commission (in ‘t Veld, 2013) point to more sizable spillover effects: a two-year increase in government investment in Germany totaling 1% of GDP increases real GDP in other euro area countries by between 0.2% and 0.3%. In a more recent paper, in ‘t Veld (2016) shows that an investment-based fiscal ...
SERIES
... assumption may not be appropriate in the period immediately after a policy reform (when market participants are learning about the policy), it does seem appropriate for estimating the longer—term ...
... assumption may not be appropriate in the period immediately after a policy reform (when market participants are learning about the policy), it does seem appropriate for estimating the longer—term ...
Demography, National Savings and International Capital Flows
... rates, ignoring the determinants of investment demand. Yet saving is determined independently of investment only under perfect capital mobility, that is, for a small, open economy facing an exogenous world interest rate. In any other setting, the observed saving rate depends on both domestic saving ...
... rates, ignoring the determinants of investment demand. Yet saving is determined independently of investment only under perfect capital mobility, that is, for a small, open economy facing an exogenous world interest rate. In any other setting, the observed saving rate depends on both domestic saving ...
Suriname Country Report
... figure X, the more regionally specific “Small Island Developing States” measure indicates the need to increase reserves to cover 30 percent of short-term debt at remaining maturing, 15 percent of other portfolio liabilities, 10 percent of broad money and 10 percent of exports indicate the need to in ...
... figure X, the more regionally specific “Small Island Developing States” measure indicates the need to increase reserves to cover 30 percent of short-term debt at remaining maturing, 15 percent of other portfolio liabilities, 10 percent of broad money and 10 percent of exports indicate the need to in ...
Shadow Economies All over the World
... Activities associated with shadow economies are facts of life around the world. Most societies attempt to control these activities through various measures such as punishment, prosecution, economic growth or education. To more effectively and efficiently allocate resources, it is crucial for a count ...
... Activities associated with shadow economies are facts of life around the world. Most societies attempt to control these activities through various measures such as punishment, prosecution, economic growth or education. To more effectively and efficiently allocate resources, it is crucial for a count ...
Shadow Economies All over the World
... Activities associated with shadow economies are facts of life around the world. Most societies attempt to control these activities through various measures such as punishment, prosecution, economic growth or education. To more effectively and efficiently allocate resources, it is crucial for a count ...
... Activities associated with shadow economies are facts of life around the world. Most societies attempt to control these activities through various measures such as punishment, prosecution, economic growth or education. To more effectively and efficiently allocate resources, it is crucial for a count ...
Cyclical fiscal policy in developing countries: the case of Africa
... Stabilisation must therefore come as a policy priority in developing countries, even more so in Africa where volatility is on average higher, growth more fragile, and poverty deeper than elsewhere. Stabilisation in turn requires two complementary courses of actions. One involves the design of struc ...
... Stabilisation must therefore come as a policy priority in developing countries, even more so in Africa where volatility is on average higher, growth more fragile, and poverty deeper than elsewhere. Stabilisation in turn requires two complementary courses of actions. One involves the design of struc ...
Urban America: US cities in the global economy
... Large US cities have such relative economic weight for two reasons. First, they are home to 80 percent of the population compared with less than 60 percent in Western Europe. Second, they have a relatively high per capita GDP premium. The average per capita GDP of large US cities is almost 35 percen ...
... Large US cities have such relative economic weight for two reasons. First, they are home to 80 percent of the population compared with less than 60 percent in Western Europe. Second, they have a relatively high per capita GDP premium. The average per capita GDP of large US cities is almost 35 percen ...
GCE AS/A Economics Specification (From 2015 - WALES
... learners who wish to progress to undergraduate level study. Learners will have the opportunity to apply economic concepts and theories using a wide range of contexts and to appreciate their value and limitations in explaining realworld phenomena. Learners will develop an appreciation of the complex ...
... learners who wish to progress to undergraduate level study. Learners will have the opportunity to apply economic concepts and theories using a wide range of contexts and to appreciate their value and limitations in explaining realworld phenomena. Learners will develop an appreciation of the complex ...
NBER WORKING PAPER SERIES ARE ALL BANKING CRISES ALIKE? THE JAPANESE EXPERIENCE
... comparison with similar episodes in developed and developing countries over the 1975-1997 period (Table 1).1 The average duration of an episode of banking sector distress is 3.9 years. Japan’s banking problem had continued for 7 years by end-1998 and is likely to continue through the end of the deca ...
... comparison with similar episodes in developed and developing countries over the 1975-1997 period (Table 1).1 The average duration of an episode of banking sector distress is 3.9 years. Japan’s banking problem had continued for 7 years by end-1998 and is likely to continue through the end of the deca ...
DRAFT Do Worker Remittances Reduce Output Volatility in Developing Countries?
... institutional environment that may affect macroeconomic volatility, several authors have emphasized that deeper aspects of the domestic institutional environment may be even more important in affecting volatility. Rodrik (1998) for example, points to the quality of domestic institutions of internal ...
... institutional environment that may affect macroeconomic volatility, several authors have emphasized that deeper aspects of the domestic institutional environment may be even more important in affecting volatility. Rodrik (1998) for example, points to the quality of domestic institutions of internal ...
Debt Overhangs: Past and Present
... overhang in the advanced economies in both historical context and relative to developments in emerging market economies. The topic of debt overhangs will be relevant for policy discussions in the years ahead. The core analysis of the paper documenting the features of the 26 debt overhang episodes we ...
... overhang in the advanced economies in both historical context and relative to developments in emerging market economies. The topic of debt overhangs will be relevant for policy discussions in the years ahead. The core analysis of the paper documenting the features of the 26 debt overhang episodes we ...
the impact of trade integration on business cycle
... members, the one size fits all monetary policy could still be more effective than national monetary policies that would have been implemented if monetary union had not been pursued. This may lead to a more stable economic environment, promoting investment, stable capital flows, and economic growth. ...
... members, the one size fits all monetary policy could still be more effective than national monetary policies that would have been implemented if monetary union had not been pursued. This may lead to a more stable economic environment, promoting investment, stable capital flows, and economic growth. ...
sample - Test Bank Corp
... 14) Gross domestic product (GDP) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located. Answer: FALSE Explanation: GDP refers to the total value of all goods and services produced within a given ...
... 14) Gross domestic product (GDP) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located. Answer: FALSE Explanation: GDP refers to the total value of all goods and services produced within a given ...
Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
... One of the great challenges for macroeconomists is explaining the slow recovery from major financial crises (see, e.g. Reinhart and Rogoff (2009)). This phenomenon is only partly accounted for by existing theories. A large literature has suggested that demand shortfalls can account for slow growth f ...
... One of the great challenges for macroeconomists is explaining the slow recovery from major financial crises (see, e.g. Reinhart and Rogoff (2009)). This phenomenon is only partly accounted for by existing theories. A large literature has suggested that demand shortfalls can account for slow growth f ...
Economic Integration, Industrial Specialization, and the
... utility gain as a measure of °uctuations asymmetry. The more a country can gain from sharing country-speci¯c risk with other countries in a group, the more asymmetric are its GDP °uctuations relative to the group. A utility-based measure of °uctuations asymmetry Our proposed measure builds on the fo ...
... utility gain as a measure of °uctuations asymmetry. The more a country can gain from sharing country-speci¯c risk with other countries in a group, the more asymmetric are its GDP °uctuations relative to the group. A utility-based measure of °uctuations asymmetry Our proposed measure builds on the fo ...
Economists : Occupational Outlook Handbook : U.S. Bureau of
... Some economists study the cost of products, healthcare, or energy. Others examine employment levels, business cycles, or exchange rates. Still, others analyze the effect of taxes, inflation, or interest rates. Economists often study historical trends and use them to make forecasts. They research an ...
... Some economists study the cost of products, healthcare, or energy. Others examine employment levels, business cycles, or exchange rates. Still, others analyze the effect of taxes, inflation, or interest rates. Economists often study historical trends and use them to make forecasts. They research an ...
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).