Stability Programme - European Commission
... Domestic demand is set to speed up, especially under the impetus of household demand. Households’ purchasing power should remain strong in 2016 against a backdrop of low inflation (+1.6% after +1.8% in 2015), before falling off in 2017 (+1.2%) as inflation picks up. Growth in real wages is expected ...
... Domestic demand is set to speed up, especially under the impetus of household demand. Households’ purchasing power should remain strong in 2016 against a backdrop of low inflation (+1.6% after +1.8% in 2015), before falling off in 2017 (+1.2%) as inflation picks up. Growth in real wages is expected ...
Good
... and doctor visits. Buying new houses by households for living is NOT included in C. Investment (I): Investment refers to the purchase of new capital goods, such as machines, tools buildings, or houses, computer systems, airplanes, and trucks. Firms buy machines or plants to get more output in the fu ...
... and doctor visits. Buying new houses by households for living is NOT included in C. Investment (I): Investment refers to the purchase of new capital goods, such as machines, tools buildings, or houses, computer systems, airplanes, and trucks. Firms buy machines or plants to get more output in the fu ...
LCcarG572_en.pdf
... Anguilla experienced positive real GDP growth in all years except in 1995 when there was a decline in real GDP of 4.1per cent in 1995, compared with a 7.1per cent increase in 1994. This negative growth was due to the effect of Hurricane Luis in September 1995 which left a trail of destruction on the ...
... Anguilla experienced positive real GDP growth in all years except in 1995 when there was a decline in real GDP of 4.1per cent in 1995, compared with a 7.1per cent increase in 1994. This negative growth was due to the effect of Hurricane Luis in September 1995 which left a trail of destruction on the ...
Government Spending Multiplier in Turkey June 2015
... system. On the …scal side, in parallel with some countries, Turkey gave more importance to economic stabilization and implemented a countercyclical …scal policy at the time of the recession by decreasing taxes and increasing government spending8 . As a result, budget de…cit to GDP ratio increased to ...
... system. On the …scal side, in parallel with some countries, Turkey gave more importance to economic stabilization and implemented a countercyclical …scal policy at the time of the recession by decreasing taxes and increasing government spending8 . As a result, budget de…cit to GDP ratio increased to ...
CBO_OMB_Forecast_Oct_2011 - California State University
... real oil prices, and two lagged ten-year Treasury bond interest rates. Real oil prices represent an important supply shock. The Treasury bond rate captures general credit market conditions. Both can influence real GDP growth and would have been taken into account for any forecast of the economy. P-v ...
... real oil prices, and two lagged ten-year Treasury bond interest rates. Real oil prices represent an important supply shock. The Treasury bond rate captures general credit market conditions. Both can influence real GDP growth and would have been taken into account for any forecast of the economy. P-v ...
Abolishing GDP
... with progress (however measured) should not be confused with the idea that GDP (growth) is a good measure of social welfare (progress) in general. In other words, the correlation may be low or even negative in certain periods and regions. If, by way of thought experiment, one extrapolates a constant ...
... with progress (however measured) should not be confused with the idea that GDP (growth) is a good measure of social welfare (progress) in general. In other words, the correlation may be low or even negative in certain periods and regions. If, by way of thought experiment, one extrapolates a constant ...
This PDF is a selection from a published volume from
... away transfers because they represent pure rents accruing to households. Without direct instruments to tax transfers, the government imposes an indirect levy on this source of household income via the inflation tax. Optimal policy calls for low inflation volatility in spite of the following two dist ...
... away transfers because they represent pure rents accruing to households. Without direct instruments to tax transfers, the government imposes an indirect levy on this source of household income via the inflation tax. Optimal policy calls for low inflation volatility in spite of the following two dist ...
... macroeconomic stability, to develop a business environment that promotes investment and job creation, and to increase the stock of physical and human capital. • Foreign Direct Investment is key to Kenya’s development agenda. Since domestic savings are low, attracting FDI would supplement domestic s ...
Download paper (PDF)
... open economy relative multiplier and assess how it relates to the closed economy aggregate multiplier for the United States. Using this framework, we show that our estimate for the open economy relative multiplier favors models in which demand shocks can have large effects on output. Our estimates l ...
... open economy relative multiplier and assess how it relates to the closed economy aggregate multiplier for the United States. Using this framework, we show that our estimate for the open economy relative multiplier favors models in which demand shocks can have large effects on output. Our estimates l ...
"Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions"
... of interstate subcontracting. To help assess the extent of such subcontracting, we have compiled a new dataset on shipments to the government from defense oriented industries. The source of these data are the Annual Survey of Shipments by DefenseOriented Industries conducted by the US Census Bureau ...
... of interstate subcontracting. To help assess the extent of such subcontracting, we have compiled a new dataset on shipments to the government from defense oriented industries. The source of these data are the Annual Survey of Shipments by DefenseOriented Industries conducted by the US Census Bureau ...
Austerity in 2009-2013
... form of multi-year plans, rather than one year moves, we need a model capable of simulating the effects of plans rather than isolated shifts in fiscal variables. We estimate such a model with data running up to (but not including) the years 2009-13. Then we simulate the model out of sample (that is ...
... form of multi-year plans, rather than one year moves, we need a model capable of simulating the effects of plans rather than isolated shifts in fiscal variables. We estimate such a model with data running up to (but not including) the years 2009-13. Then we simulate the model out of sample (that is ...
Identifying Government Spending Shocks: It`s All in the Timing
... creates a negative wealth effect for the representative household. The household optimally responds by decreasing its consumption and increasing its labor supply. Output rises as a result. The increased labor supply lowers the real wage and raises the marginal product of capital in the short run. Th ...
... creates a negative wealth effect for the representative household. The household optimally responds by decreasing its consumption and increasing its labor supply. Output rises as a result. The increased labor supply lowers the real wage and raises the marginal product of capital in the short run. Th ...
What are the Effects of Fiscal Policy Shocks
... revenues to stay unchanged during a whole year following the shock, compared to the no-shock scenario. That way, fiscal policy shocks which change government expenditure in the near future, but not immediately, are captured. We apply this method to US quarterly data, from 1955 to 2000. We find that ...
... revenues to stay unchanged during a whole year following the shock, compared to the no-shock scenario. That way, fiscal policy shocks which change government expenditure in the near future, but not immediately, are captured. We apply this method to US quarterly data, from 1955 to 2000. We find that ...
The Multiplier
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...
... function was CF0 in 1965. The assumed MPC is 0.9. The U.S. consumption function was CF1 in 2005. The consumption function has shifted upward over time because economic growth has created greater wealth and higher expected future income. ...
Questions to Measuring a Nation`s Income
... d. regulations imposed on firms and unions. 2. Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist? a. Why do prices in general rise by more in some countries than in others? b. Why do wages differ across industries? c. Why do national production a ...
... d. regulations imposed on firms and unions. 2. Which of the following questions is more likely to be studied by a microeconomist than a macroeconomist? a. Why do prices in general rise by more in some countries than in others? b. Why do wages differ across industries? c. Why do national production a ...
Abenomics
Abenomics (アベノミクス, Abenomikusu) refers to the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as prime minister of Japan. Abenomics is based upon ""three arrows"" of fiscal stimulus, monetary easing and structural reforms. The Economist characterized the program as a ""mix of reflation, government spending and a growth strategy designed to jolt the economy out of suspended animation that has gripped it for more than two decades.""The term ""Abenomics"" is a portmanteau of Abe and economics, and follows previous political neologisms for economic policies linked to specific leaders, such as Reaganomics, Clintonomics and Rogernomics.