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 ...
Macroeconomic Shocks and Monetary Policy
... This paper studies the theoretical relationship between supply and demand-side shocks, the monetary policy instrument and the target variables of monetary policy. The theory is based on the New Keynesian framework presented in a previous paper by Clarida et al (1999). The theoretical study is limite ...
... This paper studies the theoretical relationship between supply and demand-side shocks, the monetary policy instrument and the target variables of monetary policy. The theory is based on the New Keynesian framework presented in a previous paper by Clarida et al (1999). The theoretical study is limite ...
Dynamics between government debt and budget deficits in the
... of recession, the cost of reducing the deficits is particularly large.Balassone, Francese and Zotteri (2010) uses a panel for 14 European Union countries and finds cyclical asymmetry between budget deficits and government debt. Mahdavi (2014) uses a panel of 48 US states to investigate the state fi ...
... of recession, the cost of reducing the deficits is particularly large.Balassone, Francese and Zotteri (2010) uses a panel for 14 European Union countries and finds cyclical asymmetry between budget deficits and government debt. Mahdavi (2014) uses a panel of 48 US states to investigate the state fi ...
Version 2.0, Instruction Manual, Revised Version
... institutions and individuals. The prices of instruments reveal a high degree of integration between instruments issued locally and internationally, confirming that aggregate public debt is the relevant measure for focusing the analysis. Moreover, private companies that borrow abroad do so with compl ...
... institutions and individuals. The prices of instruments reveal a high degree of integration between instruments issued locally and internationally, confirming that aggregate public debt is the relevant measure for focusing the analysis. Moreover, private companies that borrow abroad do so with compl ...
i Maximum Sustainable Government Debt in the Overlapping
... speculative forecasts of future spending or taxation. From this discussion it should be clear that our interest lies in ‘technical’, rather than ‘political’, sustainability. Quite a lot of recent work on government debt has examined the incentives which a government may have to default on its debt, ...
... speculative forecasts of future spending or taxation. From this discussion it should be clear that our interest lies in ‘technical’, rather than ‘political’, sustainability. Quite a lot of recent work on government debt has examined the incentives which a government may have to default on its debt, ...
Simple and Robust Rules for Monetary Policy by
... constant growth rate rules or with actual policy, and to check the rules for robustness. Examples include the simple three equation model in Taylor (1979), the multi-equation international models in the comparative studies by Bryant, Hooper, and Mann (1993), and the econometric models in robustness ...
... constant growth rate rules or with actual policy, and to check the rules for robustness. Examples include the simple three equation model in Taylor (1979), the multi-equation international models in the comparative studies by Bryant, Hooper, and Mann (1993), and the econometric models in robustness ...
Multiple-choice questions to accompany
... 34. That GDP tends to overstate a nation's economic well-being is illustrated by its treatment of which of the following a) you buy a new generator for your barn b) you decide to stay home to care for your children c) you decide to work fewer hours to enjoy life more d) the government spends million ...
... 34. That GDP tends to overstate a nation's economic well-being is illustrated by its treatment of which of the following a) you buy a new generator for your barn b) you decide to stay home to care for your children c) you decide to work fewer hours to enjoy life more d) the government spends million ...
ExamView Pro - ec1001june2009.tst
... d. consumers spend the largest fraction of their income on. 5. When the inflation rate ends up being lower than expected, a. everyone benefits because money is cheaper. b. everyone benefits because prices do not increase. c. lenders of fixed-rate mortgages generally benefit because they will make hi ...
... d. consumers spend the largest fraction of their income on. 5. When the inflation rate ends up being lower than expected, a. everyone benefits because money is cheaper. b. everyone benefits because prices do not increase. c. lenders of fixed-rate mortgages generally benefit because they will make hi ...
Chapter 18_The Multiplier Effect and Crowding Out
... There are several possible sources of crowding out. First, higher government spending may be financed by higher taxes which reduce private consumption spending. Second, higher government spending may be financed by borrowing (issuing government bonds) which reduces spending on private bonds, therefo ...
... There are several possible sources of crowding out. First, higher government spending may be financed by higher taxes which reduce private consumption spending. Second, higher government spending may be financed by borrowing (issuing government bonds) which reduces spending on private bonds, therefo ...
A Comparison of Twelve Macroeconomic Models
... expectations and by factor disequilibrium in labour or product markets. Under the money matters paradigm, inflation is determined mainly by monetary disequilibrium. Although most models are based on the conventional paradigm, there are nevertheless important differences within that paradigm. In part ...
... expectations and by factor disequilibrium in labour or product markets. Under the money matters paradigm, inflation is determined mainly by monetary disequilibrium. Although most models are based on the conventional paradigm, there are nevertheless important differences within that paradigm. In part ...
Mongolia: 2015 Article IV Consultation Staff Report
... the mining sector. In 2011–12, FDI averaged 40 percent of GDP and annual growth exceeded 15 percent, and over the past decade, growth averaged 9 percent. One project alone—the Oyu Tolgoi (OT) copper and gold mine—brought more than $6 billion (50 percent of GDP) in investment during its first phase o ...
... the mining sector. In 2011–12, FDI averaged 40 percent of GDP and annual growth exceeded 15 percent, and over the past decade, growth averaged 9 percent. One project alone—the Oyu Tolgoi (OT) copper and gold mine—brought more than $6 billion (50 percent of GDP) in investment during its first phase o ...
Delusional economics and the economic
... "The creation of new gilts by the government has actually - net more than matched the pace of purchases by the Bank of ...
... "The creation of new gilts by the government has actually - net more than matched the pace of purchases by the Bank of ...
An Analysis of Public and Private Sector Employment
... This paper examines the evolution of public and private sector employment at both the national and provincial levels. While the public sector share of employment in Canada declined during the 1990s, its growth resumed during the first decade of the 21st century. Specifically, there was a decline in ...
... This paper examines the evolution of public and private sector employment at both the national and provincial levels. While the public sector share of employment in Canada declined during the 1990s, its growth resumed during the first decade of the 21st century. Specifically, there was a decline in ...
Fiscal and Financial Crises
... the necessity for government to socialize the income losses of financial crises. ...
... the necessity for government to socialize the income losses of financial crises. ...
paper - University of Oxford, Department of Economics
... government starts to build up assets. Eventually it has enough assets that it can finance all its spending from the interest on those assets, and so taxes can be completely eliminated. Both these conclusions about the long run debt target appear rather extreme, and very different from each other. Ac ...
... government starts to build up assets. Eventually it has enough assets that it can finance all its spending from the interest on those assets, and so taxes can be completely eliminated. Both these conclusions about the long run debt target appear rather extreme, and very different from each other. Ac ...
paper - Pascal Michaillat
... which labor services are traded. Not all services are sold at all times so sellers of services are unemployed part of the time. Buyers direct their search towards sellers offering lower prices and shorter queues for their services; sellers set their price given this directed search and a price-adjus ...
... which labor services are traded. Not all services are sold at all times so sellers of services are unemployed part of the time. Buyers direct their search towards sellers offering lower prices and shorter queues for their services; sellers set their price given this directed search and a price-adjus ...
lecture6_2006_hv
... Trade deficit increases in the short-run because the increase in real exports is less than the increase in real imports (based upon values of alphas!) Real GDP shoots above the base case value, so that there is a boom in the economy in the short-run. In the long-run, once the prices adjust completel ...
... Trade deficit increases in the short-run because the increase in real exports is less than the increase in real imports (based upon values of alphas!) Real GDP shoots above the base case value, so that there is a boom in the economy in the short-run. In the long-run, once the prices adjust completel ...
NBER WORKING PAPER SERIES Marvin Goodfriend Working Paper 13580
... probably contributed to the inflation scare (Goodfriend, 1993). The inflation scare forced the Fed to choose between fighting unemployment and fighting inflation; it had effectively lost “room to maneuver” between go and stop policy. The Federal Reserve reacted aggressively—letting the federal funds ...
... probably contributed to the inflation scare (Goodfriend, 1993). The inflation scare forced the Fed to choose between fighting unemployment and fighting inflation; it had effectively lost “room to maneuver” between go and stop policy. The Federal Reserve reacted aggressively—letting the federal funds ...
Rating Report
... would rapidly fall from favour. Moreover, only Congress can change the system, which would require a constitutional amendment. Convertibility is here to stay for the foreseeable future. The downside of the system, especially for a highly indebted country like Argentina, was demonstrated forcefully i ...
... would rapidly fall from favour. Moreover, only Congress can change the system, which would require a constitutional amendment. Convertibility is here to stay for the foreseeable future. The downside of the system, especially for a highly indebted country like Argentina, was demonstrated forcefully i ...
The Supply and Demand for Safe Assets
... collateral because the introduction and amount of government bonds effects the information environment of the economy. By supplying government bonds, the government can eliminate the incentive to produce information about private collateral. By preventing information production this private collate ...
... collateral because the introduction and amount of government bonds effects the information environment of the economy. By supplying government bonds, the government can eliminate the incentive to produce information about private collateral. By preventing information production this private collate ...
2015-16 - University of Glasgow
... fact that the optimal policy precisely balances the short-run costs of fiscal adjustment in a stickyprice model against the long-run gains of a lower steady state level of debt. However, when the policy maker cannot commit to behave in this way, the resultant time-consistent policy is radically diff ...
... fact that the optimal policy precisely balances the short-run costs of fiscal adjustment in a stickyprice model against the long-run gains of a lower steady state level of debt. However, when the policy maker cannot commit to behave in this way, the resultant time-consistent policy is radically diff ...
MEASURING PRODUCTION AND INCOME, Chapter 2
... thereby private investment, aggregate demand and output. 9.1.2B. The small open economy with its own currency. The interest rate is fixed but the exchange rate is flexible. Main lesson: Fiscal policy is less effective in a small open economy. Increased government spending or lower net taxes increase ...
... thereby private investment, aggregate demand and output. 9.1.2B. The small open economy with its own currency. The interest rate is fixed but the exchange rate is flexible. Main lesson: Fiscal policy is less effective in a small open economy. Increased government spending or lower net taxes increase ...
Post World War II politics and Keynes`s aborted revolutionary
... Today however, the teaching of “Keynesianism” is virtually dead, at least in mainstream economic textbooks, the analysis of recent economic Nobel Laureates, and speeches of governmental policy makers whether they be “liberal” or “conservative”. Indeed the current sub prime mortgage credit crisis in ...
... Today however, the teaching of “Keynesianism” is virtually dead, at least in mainstream economic textbooks, the analysis of recent economic Nobel Laureates, and speeches of governmental policy makers whether they be “liberal” or “conservative”. Indeed the current sub prime mortgage credit crisis in ...