People`s Republic of China: 2015 IV Consultation
... credit and investment vulnerabilities. Meanwhile, a sharp contraction in local government spending that would reduce the augmented fiscal deficit should be avoided this year, in view of headwinds to growth from slowing credit and real estate investment. Directors considered it appropriate to start a ...
... credit and investment vulnerabilities. Meanwhile, a sharp contraction in local government spending that would reduce the augmented fiscal deficit should be avoided this year, in view of headwinds to growth from slowing credit and real estate investment. Directors considered it appropriate to start a ...
Chapter 16
... Trade in services is just as important as trade in goods. The key statistic for economists is the balance of goods and services which is the difference between the value of goods and services exported and ...
... Trade in services is just as important as trade in goods. The key statistic for economists is the balance of goods and services which is the difference between the value of goods and services exported and ...
Federal Reserve Bank of Boston © o
... Tootell (~991) finds that District presidents do not vote at the FOMC based on the economic conditions in their regions. It is also possible that the District banks’ boards of directors have different national goals than members of the FOMC; these boards may have a different view on the relative cos ...
... Tootell (~991) finds that District presidents do not vote at the FOMC based on the economic conditions in their regions. It is also possible that the District banks’ boards of directors have different national goals than members of the FOMC; these boards may have a different view on the relative cos ...
Chapter 27 Money and Inflation
... (b) the aggregate supply curve to shift left along a stationary aggregate demand curve, leading to continually contracting aggregate output and prices. (c) the aggregate demand curve to shift continually to the right as the aggregate supply curve shifts continually inward, leading to higher and high ...
... (b) the aggregate supply curve to shift left along a stationary aggregate demand curve, leading to continually contracting aggregate output and prices. (c) the aggregate demand curve to shift continually to the right as the aggregate supply curve shifts continually inward, leading to higher and high ...
Changes in the Federal Reserve`s Inflation Target: Causes and
... version of these stories that applies to the entire postwar period, although the same results also indicate that considerable uncertainty remains as to exactly why the Federal Reserve allowed inflation to move as much as it did. Before going on to provide a more detailed description of the model and ...
... version of these stories that applies to the entire postwar period, although the same results also indicate that considerable uncertainty remains as to exactly why the Federal Reserve allowed inflation to move as much as it did. Before going on to provide a more detailed description of the model and ...
The Taylor Curve and the Unemployment-Inflation Tradeoff
... workers to enter into employment contracts in which they agree to supply as many hours of work as demanded by their employers (within reasonable limits) for an agreed-upon wage rate or salary. This contractually fixed wage rate or salary reflects, in part, what workers and employers expect the infla ...
... workers to enter into employment contracts in which they agree to supply as many hours of work as demanded by their employers (within reasonable limits) for an agreed-upon wage rate or salary. This contractually fixed wage rate or salary reflects, in part, what workers and employers expect the infla ...
-1- June 2004 THE MACROFOUNDATION OF MONETARY POWER
... transfers. Adjustment, correspondingly, is the process by which imbalances in the current account – surpluses or deficits – are reduced or eliminated. Import and/or export volumes “adjust” to restore payments equilibrium. Countries with deficits experiences a decline of imports of goods and services ...
... transfers. Adjustment, correspondingly, is the process by which imbalances in the current account – surpluses or deficits – are reduced or eliminated. Import and/or export volumes “adjust” to restore payments equilibrium. Countries with deficits experiences a decline of imports of goods and services ...
APMacroPracFIN
... d. cause bank reserves to increase. e. all of the above ____ 56. Paper money is printed at the __________, but it is issued to commercial banks by the __________. a. Bureau of Engraving and Printing; FOMC b. U.S. Mint; 12 Federal Reserve District Banks c. Federal Reserve building in Washington; D.C. ...
... d. cause bank reserves to increase. e. all of the above ____ 56. Paper money is printed at the __________, but it is issued to commercial banks by the __________. a. Bureau of Engraving and Printing; FOMC b. U.S. Mint; 12 Federal Reserve District Banks c. Federal Reserve building in Washington; D.C. ...
Effect of GDP, Interest Rate and Inflation on Private Investment in
... developing countries however may not be felt through higher taxes and/or increased interest rates as in industrial countries. (ii) Empirical studies in private investment The theories of investment date back to Keynes in 1936, who first called attention to the existence of an independent investment ...
... developing countries however may not be felt through higher taxes and/or increased interest rates as in industrial countries. (ii) Empirical studies in private investment The theories of investment date back to Keynes in 1936, who first called attention to the existence of an independent investment ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... Regime F posits different policies that align closely to actual behavior in many countries recently. Suppose that higher deficits do not create higher expected surpluses and that central banks either peg short-term nominal interest rates or raise them only weakly with inflation. Because a tax cut tod ...
... Regime F posits different policies that align closely to actual behavior in many countries recently. Suppose that higher deficits do not create higher expected surpluses and that central banks either peg short-term nominal interest rates or raise them only weakly with inflation. Because a tax cut tod ...
paper
... unsatisfied citizens outing the oligarchy, and in turn allowing growth to resume under a more democratic system? Or, alternately, will the oligarchy be able to retain sufficient support even in a low-growth economy? Modernization theory suggests that democratization is likely to occur. But, then, on ...
... unsatisfied citizens outing the oligarchy, and in turn allowing growth to resume under a more democratic system? Or, alternately, will the oligarchy be able to retain sufficient support even in a low-growth economy? Modernization theory suggests that democratization is likely to occur. But, then, on ...
the use of reserve requirements in an optimal monetary policy
... Some inflation targeting countries like Brazil, Colombia and Peru, have used reserve requirements on domestic deposits as a macro-prudential policy tool aimed at increasing lending interest rates, reducing credit growth and curbing excessive private sector leverage during the expansionary phase of t ...
... Some inflation targeting countries like Brazil, Colombia and Peru, have used reserve requirements on domestic deposits as a macro-prudential policy tool aimed at increasing lending interest rates, reducing credit growth and curbing excessive private sector leverage during the expansionary phase of t ...
Antigua and Barbuda: Staff Report for the 2012 Article IV
... 3½ percent of GDP in 2013 and beyond, consistent with an overall fiscal surplus of 0.6–0.8 percent of GDP. This would lead to a decline in the ratio of debt-to-GDP from close to 100 percent in 2012 in this scenario, to 76 percent in 2016. The current account deficit is expected to widen with increas ...
... 3½ percent of GDP in 2013 and beyond, consistent with an overall fiscal surplus of 0.6–0.8 percent of GDP. This would lead to a decline in the ratio of debt-to-GDP from close to 100 percent in 2012 in this scenario, to 76 percent in 2016. The current account deficit is expected to widen with increas ...
Equilibrium Risk Shifting and Interest Rate in an
... empirical and theoretical. Acharya and Richardson (2009) notably document the overexposure of the U.S. banking sector to securitised mortgages prior to the current crisis, with the risk associated with those securities being e¤ectively kept within the sector (via the use of unregulated liquidity enh ...
... empirical and theoretical. Acharya and Richardson (2009) notably document the overexposure of the U.S. banking sector to securitised mortgages prior to the current crisis, with the risk associated with those securities being e¤ectively kept within the sector (via the use of unregulated liquidity enh ...
** Complementary Credit Networks and Macro-Economic Stability * * uses data from a Swiss barter network to argue that large scale internet barter helps to stabilize the business cycle. My paper was recently invited for a 2nd presentation to the Central Bank of Brazil, and is in the
... keeps accounts for each household or firm in terms of its WIR credits or debits. From the individual’s point of view, an account in WIR is much like an ordinary checking account with clearing balances and limits on how large a negative balance can be run. (WIR-Bank is, in fact, a bank under Swiss la ...
... keeps accounts for each household or firm in terms of its WIR credits or debits. From the individual’s point of view, an account in WIR is much like an ordinary checking account with clearing balances and limits on how large a negative balance can be run. (WIR-Bank is, in fact, a bank under Swiss la ...
the effect of interest rate and inflation rate
... The study sought to understand the effects of interest rate and inflation rate on exchange rates in Kenya. There are many factors that affect the exchange rate in Kenya and elsewhere in the world, but the study keenly was interested in understanding the relationship between interest rates and inflat ...
... The study sought to understand the effects of interest rate and inflation rate on exchange rates in Kenya. There are many factors that affect the exchange rate in Kenya and elsewhere in the world, but the study keenly was interested in understanding the relationship between interest rates and inflat ...
The macroeconomic effects of fiscal policy in Spain
... single instrument on the demand side to offset idiosyncratic shocks. On the other hand, the Stability and Growth Pact has, in some cases, encouraged fiscal consolidations so as to achieve close to balance or in surplus budgetary positions in terms of ESA-95. Spain is one of the most prominent exampl ...
... single instrument on the demand side to offset idiosyncratic shocks. On the other hand, the Stability and Growth Pact has, in some cases, encouraged fiscal consolidations so as to achieve close to balance or in surplus budgetary positions in terms of ESA-95. Spain is one of the most prominent exampl ...
Baixar PDF
... assume that the equilibrium level of private sector leverage is the average during 1990-2007, then to offset the additional private sector deleveraging that will need to take place, public sector debt may need to rise by 72% of GDP, i.e., from the current 108% to 180% of GDP. There are intense debat ...
... assume that the equilibrium level of private sector leverage is the average during 1990-2007, then to offset the additional private sector deleveraging that will need to take place, public sector debt may need to rise by 72% of GDP, i.e., from the current 108% to 180% of GDP. There are intense debat ...
NBER WORKING PAPER SERIES WAGES, RELATIVE PRICES AND CHOICE BETWEEN
... 9Following Gray (1976) we might measure domestic output relative to "desired" output, rather than expected output, where the former is defined as that output which would prevail in a frictionless economy without contract lags. As long as labor supply is inelastic, these two objectives are equivalent ...
... 9Following Gray (1976) we might measure domestic output relative to "desired" output, rather than expected output, where the former is defined as that output which would prevail in a frictionless economy without contract lags. As long as labor supply is inelastic, these two objectives are equivalent ...
A Rehabilitation of Monetary Policy in the 1950`s
... said, “Increasing demands after mid-1955 resulted in relatively small increases in output but marked advances in prices ... . Distortions such as undue inventory accumulation, too hasty capital expansion in some areas, too rapid a rise in debt burden, and consumer resistance to price increases under ...
... said, “Increasing demands after mid-1955 resulted in relatively small increases in output but marked advances in prices ... . Distortions such as undue inventory accumulation, too hasty capital expansion in some areas, too rapid a rise in debt burden, and consumer resistance to price increases under ...
No 15
... It was possible to show that the government resorts chiefly to public investment (Ip) cuts and tax increases to make fiscal adjustments. In doing so, the government was right for public investment on the short run but wrong for tax rates (t). Indeed, the regression analysis showed Ip was positively ...
... It was possible to show that the government resorts chiefly to public investment (Ip) cuts and tax increases to make fiscal adjustments. In doing so, the government was right for public investment on the short run but wrong for tax rates (t). Indeed, the regression analysis showed Ip was positively ...
The Costs of Inflation
... and carpenter go to buy from each other, they find they are no better off than before because of higher prices ...
... and carpenter go to buy from each other, they find they are no better off than before because of higher prices ...
Three essays about monetary policy in China - ROS Home
... through which monetary conditions might influence aggregate demand. The empirical tests show that the MCIs contain useful information about future output growth and inflation in China over the short and medium term. Chapter 3 examines the fiscal challenges to the monetary authority’s control over th ...
... through which monetary conditions might influence aggregate demand. The empirical tests show that the MCIs contain useful information about future output growth and inflation in China over the short and medium term. Chapter 3 examines the fiscal challenges to the monetary authority’s control over th ...