MONETARY POLICY REPORT 2004-III
... greater risks to inflation. According to GNP data, which are announced with a lag compared to the price data, expenditures on semi-durables and non-durables as well as durable goods as of the second quarter of 2004. In other words, the revival in domestic demand has started to involve a wider range ...
... greater risks to inflation. According to GNP data, which are announced with a lag compared to the price data, expenditures on semi-durables and non-durables as well as durable goods as of the second quarter of 2004. In other words, the revival in domestic demand has started to involve a wider range ...
Brexit – The Economic Impact - Institut der deutschen Wirtschaft
... If we look at imports, the changes are less pronounced. The UK’s imports from other EU member states declined up until 2012, but this was considerably less than for exports. Moreover, the proportion of British imports from the EU increased after the low from 2012 to 2015 by nearly 6 percentage point ...
... If we look at imports, the changes are less pronounced. The UK’s imports from other EU member states declined up until 2012, but this was considerably less than for exports. Moreover, the proportion of British imports from the EU increased after the low from 2012 to 2015 by nearly 6 percentage point ...
The-Gold-Standard-Domitrovic2
... the gold standard in the Constitution were nothing short of phenomenal. In the back-cast and unofficial, but good statistics of the most contemporary economics, economic output (or GDP) of the United States increased every single year of the first two decades under the new gold standard, from 1790 t ...
... the gold standard in the Constitution were nothing short of phenomenal. In the back-cast and unofficial, but good statistics of the most contemporary economics, economic output (or GDP) of the United States increased every single year of the first two decades under the new gold standard, from 1790 t ...
CORRUPTION
... equilibrium, Mauro showed that the link between widespread corruption and low economic growth is explained by the behaviour of the individuals regarding public affairs and the behaviour of the politicians in a corrupt society (Mauro, 2002). Tanzi and Davoodi find that countries with higher perceived ...
... equilibrium, Mauro showed that the link between widespread corruption and low economic growth is explained by the behaviour of the individuals regarding public affairs and the behaviour of the politicians in a corrupt society (Mauro, 2002). Tanzi and Davoodi find that countries with higher perceived ...
export dependence and export concentration
... the CIS region, followed by the Middle East and Africa (Chart 1.7). In Africa, export revenues declined sharply as a result of the fall in global demand and in international prices.7 “Exports from the As the 2007–2008 crisis hit developing continent are expected to fall by more than USD 250 billion ...
... the CIS region, followed by the Middle East and Africa (Chart 1.7). In Africa, export revenues declined sharply as a result of the fall in global demand and in international prices.7 “Exports from the As the 2007–2008 crisis hit developing continent are expected to fall by more than USD 250 billion ...
This PDF is a selection from a published volume from... National Bureau of Economic Research Volume Title: The Inflation-Targeting Debate
... too far away from the target, you can end up in quite serious difficulty with a costly process to bring them back again. Another aspect of our process is that it is one in which economists have some comparative advantage. This is unlike the old British amateur tradition, in which mystery and mystique ...
... too far away from the target, you can end up in quite serious difficulty with a costly process to bring them back again. Another aspect of our process is that it is one in which economists have some comparative advantage. This is unlike the old British amateur tradition, in which mystery and mystique ...
The Benefits of ITA Expansion for Developing Countries
... ICT is just as vital to enabling innovation as to boosting productivity. For example, the OECD found that the probability of innovation in a firm increases with the intensity of ICT use, and that this held true for both manufacturing and services firms and for different types of innovation. 19 Likew ...
... ICT is just as vital to enabling innovation as to boosting productivity. For example, the OECD found that the probability of innovation in a firm increases with the intensity of ICT use, and that this held true for both manufacturing and services firms and for different types of innovation. 19 Likew ...
An Empirical Examination of the dynamics of Negative INFLATION
... rentals fell by around 60% and 40%, respectively, from their peak levels in mid-1997 (Fukuda & Yamada, 2012; Chiu, 2003). This dampened private consumption and investment, which was worsened by the global economic downturn, in the aftermath of the Asian financial crisis. Hong Kong’s deflationary per ...
... rentals fell by around 60% and 40%, respectively, from their peak levels in mid-1997 (Fukuda & Yamada, 2012; Chiu, 2003). This dampened private consumption and investment, which was worsened by the global economic downturn, in the aftermath of the Asian financial crisis. Hong Kong’s deflationary per ...
Long-run Unemployment and Macroeconomic Volatility
... necessary independent in the long-run. Starting with Tobin (1972), a huge strand of literature has stressed in particular on the long-run relation between in‡ation and unemployment, that is on the long-run Phillips curve.1 This paper contributes to this literature exploring the relationship at low f ...
... necessary independent in the long-run. Starting with Tobin (1972), a huge strand of literature has stressed in particular on the long-run relation between in‡ation and unemployment, that is on the long-run Phillips curve.1 This paper contributes to this literature exploring the relationship at low f ...
Infrastructure Investment and Economic Growth: Surveying New Post-Crisis Evidence POLICY MEMO
... stream. A lack of sustained federal funding could adversely affect how much funding states are willing to allocate to transportation, or delay certain transportation projects, especially for larger projects that could rely in part on federal aid. ...
... stream. A lack of sustained federal funding could adversely affect how much funding states are willing to allocate to transportation, or delay certain transportation projects, especially for larger projects that could rely in part on federal aid. ...
NBER WORKING PAPER SERIES CALLING RECESSIONS IN REAL TIME James D. Hamilton
... produce a greater quantity of goods and services. Second, the stock of equipment and facilities that people have to work with has also increased more than six-fold over this period. And third, the techniques of production, such as higher-yielding crops, faster computers, and more efficient management ...
... produce a greater quantity of goods and services. Second, the stock of equipment and facilities that people have to work with has also increased more than six-fold over this period. And third, the techniques of production, such as higher-yielding crops, faster computers, and more efficient management ...
Heterogeneous Effects of Commodity Price Shocks on Inflation
... Sargent and Wallace (1981) predicted that the ability of the monetary policy to target inflation may only be effective with coordination with fiscal side of economic policy. Sargent and Wallace (1981) predicted that tight monetary policy could lead to a higher inflation rate under certain conditions ...
... Sargent and Wallace (1981) predicted that the ability of the monetary policy to target inflation may only be effective with coordination with fiscal side of economic policy. Sargent and Wallace (1981) predicted that tight monetary policy could lead to a higher inflation rate under certain conditions ...
Dynamic Asymmetries in the Australian Labour Market Philip M. Bodman School of Economics
... that economic variables vary asymmetrically over time and that the economy may operate differently in different phases of the business cycle (e.g. the ineffectiveness of monetary policy due to a ‘liquidity trap’ in recessions) is not new, there was almost no systematic investigation of cyclical asymmet ...
... that economic variables vary asymmetrically over time and that the economy may operate differently in different phases of the business cycle (e.g. the ineffectiveness of monetary policy due to a ‘liquidity trap’ in recessions) is not new, there was almost no systematic investigation of cyclical asymmet ...
opening the pandora`s box? trade openness and informal
... * Corresponding author. E-mail: [email protected] ...
... * Corresponding author. E-mail: [email protected] ...
From real business cycle and new Keynesian to DSGE
... scope, individual cycles have common elements. Burns and Mitchell (1946, 3) were clear that they were proposing a “tool of research” when they put forward their working definition of business cycles: Business cycles … [consist] of expansions occurring at about the same time in many economic activiti ...
... scope, individual cycles have common elements. Burns and Mitchell (1946, 3) were clear that they were proposing a “tool of research” when they put forward their working definition of business cycles: Business cycles … [consist] of expansions occurring at about the same time in many economic activiti ...
Reforming public expenditure in industrialised countries: are
... yet developed as a serious field of study. In some countries the expansion of the public sector was considerable. In others it was more limited. But all countries saw public spending go up as a share of GDP. In a number of countries this share exceeded 50 per cent, especially when the programmes cre ...
... yet developed as a serious field of study. In some countries the expansion of the public sector was considerable. In others it was more limited. But all countries saw public spending go up as a share of GDP. In a number of countries this share exceeded 50 per cent, especially when the programmes cre ...
View/Open
... surrounding the EPAs emerged as the five year window period neared its end in late 2007 (Julian & Makhan, 2007). The ACP RTAs, like the SACU, SADC, Economic Community of West African States (ECOWAS),5 etc., and individual member countries adopted a variety of negotiation positions with respect to th ...
... surrounding the EPAs emerged as the five year window period neared its end in late 2007 (Julian & Makhan, 2007). The ACP RTAs, like the SACU, SADC, Economic Community of West African States (ECOWAS),5 etc., and individual member countries adopted a variety of negotiation positions with respect to th ...
How Does the Economy Shape Policy
... The American public’s appetite for an activist government varies over time, and that variation is both substantial and systematic. We saw it in calls to shrink government across the board and cut taxes in the early 1980s, and to invest in the future by funding education and overhauling health care f ...
... The American public’s appetite for an activist government varies over time, and that variation is both substantial and systematic. We saw it in calls to shrink government across the board and cut taxes in the early 1980s, and to invest in the future by funding education and overhauling health care f ...
Monetary Policy in Emerging Markets
... “financial repression” under which the only financial intermediaries were uncompetitive banks and the government itself, which kept nominal interest rates artificially low (often well below the inflation rate) and allocated capital administratively rather than by market forces.3 Capital inflows and ...
... “financial repression” under which the only financial intermediaries were uncompetitive banks and the government itself, which kept nominal interest rates artificially low (often well below the inflation rate) and allocated capital administratively rather than by market forces.3 Capital inflows and ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... has been converging to West German and U.S. levels as estimated by Dollar (1991) and Szirmai and Pilat (1990), respectively. However, the latter study notes that while South Korean labor productivity increased from 11.9 percent of U.S. productivity in 1975 to 19.2 percent in 1985, it is still less t ...
... has been converging to West German and U.S. levels as estimated by Dollar (1991) and Szirmai and Pilat (1990), respectively. However, the latter study notes that while South Korean labor productivity increased from 11.9 percent of U.S. productivity in 1975 to 19.2 percent in 1985, it is still less t ...
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).