RQ_ANS
... If there is surplus of loanable funds, then a. the supply for loanable funds shifts right and the demand shifts left. b. the supply for loanable funds shifts left and the demand shifts right. c. neither curve shifts, but the quantity of loanable funds supplied increases and the quantity demanded dec ...
... If there is surplus of loanable funds, then a. the supply for loanable funds shifts right and the demand shifts left. b. the supply for loanable funds shifts left and the demand shifts right. c. neither curve shifts, but the quantity of loanable funds supplied increases and the quantity demanded dec ...
Government Maturity Structure Shocks Alexandre Corhay Howard Kung Gonzalo Morales
... the price level through the government budget constraint while the monetary authority passively stabilizes debt and anchors expected inflation. Leeper (1991) refers to the monetary-led regime as Active Monetary/Passive Fiscal (AM/PF) and the fiscally-led regime as Passive Monetary/Active Fiscal (PM ...
... the price level through the government budget constraint while the monetary authority passively stabilizes debt and anchors expected inflation. Leeper (1991) refers to the monetary-led regime as Active Monetary/Passive Fiscal (AM/PF) and the fiscally-led regime as Passive Monetary/Active Fiscal (PM ...
Incomplete Exchange Rate Pass-Through and Simple - S
... where bπ , b y , b∆e , b( pm − pd ) and b( p*+ e − p ) are the policy maker’s reaction coefficients, and ρ is the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly ...
... where bπ , b y , b∆e , b( pm − pd ) and b( p*+ e − p ) are the policy maker’s reaction coefficients, and ρ is the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly ...
Provincial Debt Summary - BC Ministry of Finance
... Government is responsible for determining the appropriateness of the stated basis of accounting as described in the notes to the debt-related statements and for the preparation of the debt-related statements in accordance with the stated basis of accounting. Government is also responsible for such i ...
... Government is responsible for determining the appropriateness of the stated basis of accounting as described in the notes to the debt-related statements and for the preparation of the debt-related statements in accordance with the stated basis of accounting. Government is also responsible for such i ...
A Review of the LIC DSF
... ranges, small changes in a country’s CPIA may imply “large” changes in debt thresholds (50 pp of PV Debt/Exports; 10 pp of PV Debt/GDP) • This is hard to relate to the country’s underlying capacity to service its foreign debt • Resulting changes in debt distress ratings could make it harder for coun ...
... ranges, small changes in a country’s CPIA may imply “large” changes in debt thresholds (50 pp of PV Debt/Exports; 10 pp of PV Debt/GDP) • This is hard to relate to the country’s underlying capacity to service its foreign debt • Resulting changes in debt distress ratings could make it harder for coun ...
A model of secular stagnation
... both theoretical and empirical analysis). In that work, typically, this shock leads to a temporary reduction in the real interest rate as debtors pay down their debt and savers need to compensate for the drop in overall spending by increasing their spending. Once the deleveraging process is complete ...
... both theoretical and empirical analysis). In that work, typically, this shock leads to a temporary reduction in the real interest rate as debtors pay down their debt and savers need to compensate for the drop in overall spending by increasing their spending. Once the deleveraging process is complete ...
money market
... Other Determinants of Planned Investment The assumption that planned investment depends only on the interest rate is obviously a simplification, just as is the assumption that consumption depends only on income. In practice, the decision of a firm on how much to invest depends on, among other things ...
... Other Determinants of Planned Investment The assumption that planned investment depends only on the interest rate is obviously a simplification, just as is the assumption that consumption depends only on income. In practice, the decision of a firm on how much to invest depends on, among other things ...
university of maiduguri - Unimaid, Centre for Distance Learning
... to refer to “a situation where qualified individual who seek jobs at the prevailing wage rate can find them in productive activities without considerable delays. In other wards it means full time jobs for all people who want to work full time. It does not mean unemployment is ever zero. Here again, ...
... to refer to “a situation where qualified individual who seek jobs at the prevailing wage rate can find them in productive activities without considerable delays. In other wards it means full time jobs for all people who want to work full time. It does not mean unemployment is ever zero. Here again, ...
Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary
... ity is that expansions in aggregate demand drive up wages, putting the economy in a vulnerable situation. For in the contractionary phase of the cycle, downward nominal wage rigidity and a fixed exchange rate prevent real wages from falling to the level consistent with full employment. Agents underst ...
... ity is that expansions in aggregate demand drive up wages, putting the economy in a vulnerable situation. For in the contractionary phase of the cycle, downward nominal wage rigidity and a fixed exchange rate prevent real wages from falling to the level consistent with full employment. Agents underst ...
Munir
... denominated in dollars or in another strong foreign currency. If a country having large debt devalues its currency, then both residents and the government need more domestic currency to pay for the same amount of foreign debt. This reduces the net wealth and therefore aggregate expenditure. Another ...
... denominated in dollars or in another strong foreign currency. If a country having large debt devalues its currency, then both residents and the government need more domestic currency to pay for the same amount of foreign debt. This reduces the net wealth and therefore aggregate expenditure. Another ...
NBER WORKING PAPER SERIES ON THE ORIGINS OF "A MONETARY HISTORY"
... appearance of a cycle, and the language of cycles could be used to describe the economy, but only the forces making for recovery were truly inherent in the system.10 Mitchell did not argue that money was the central element in the business cycle. The cycle, according to Mitchell, was a complex and r ...
... appearance of a cycle, and the language of cycles could be used to describe the economy, but only the forces making for recovery were truly inherent in the system.10 Mitchell did not argue that money was the central element in the business cycle. The cycle, according to Mitchell, was a complex and r ...
ESSAYS ON FINANCIAL REFORMS AND MONETARY POLICY IN MALAWI A Thesis
... appeared to be associated with depreciations of the exchange rate rather than the expected real appreciation. There is also evidence of limited impact of a positive aid shock on depreciation and inflation when RBM targets monetary aggregates compared to when the authorities use the Taylor rule and i ...
... appeared to be associated with depreciations of the exchange rate rather than the expected real appreciation. There is also evidence of limited impact of a positive aid shock on depreciation and inflation when RBM targets monetary aggregates compared to when the authorities use the Taylor rule and i ...
A Lesson from the Great Depression that the Fed
... methodology. The strategy is similar to the analyses of Krishnamurthy and Vissing-Jorgensen (2011) and Swanson (2011) for the QE1 period: we estimate the changes in Treasury yields around announcements by the Federal Reserve. In the case of the 1932 operation, no public announcements were made by th ...
... methodology. The strategy is similar to the analyses of Krishnamurthy and Vissing-Jorgensen (2011) and Swanson (2011) for the QE1 period: we estimate the changes in Treasury yields around announcements by the Federal Reserve. In the case of the 1932 operation, no public announcements were made by th ...
Advanced Macroeconomics 4. The Zero Lower Bound
... longer-term rates that many people borrow at will equal zero. By signalling that they intend to keep short-term rates low for a long period of time they can lower longer-term rates. I Quantitative Easing: Purchasing large quantities of longer-term bonds. Reduces supply available to private sector an ...
... longer-term rates that many people borrow at will equal zero. By signalling that they intend to keep short-term rates low for a long period of time they can lower longer-term rates. I Quantitative Easing: Purchasing large quantities of longer-term bonds. Reduces supply available to private sector an ...
PDF file
... periods. Among these episodes are the inßux of immigrants, especially in the early 1990s, the ending of the inßux in the second half of the decade, the emergence of the ”new economy” - the rapid growth of the high-tech sectors towards the end of the 1990s and the substantial deterioration in the sec ...
... periods. Among these episodes are the inßux of immigrants, especially in the early 1990s, the ending of the inßux in the second half of the decade, the emergence of the ”new economy” - the rapid growth of the high-tech sectors towards the end of the 1990s and the substantial deterioration in the sec ...
Monetary Policy Transparency - Faculty of Economics
... assessments. The Dincer and Eichengreen (2013) dataset reveals a remarkable improvement in economic transparency involving quantitative information. The publication of numerical macroeconomic forecasts greatly expanded from 14% of central banks in 1998 to 54% in 2010. Although initially few central ...
... assessments. The Dincer and Eichengreen (2013) dataset reveals a remarkable improvement in economic transparency involving quantitative information. The publication of numerical macroeconomic forecasts greatly expanded from 14% of central banks in 1998 to 54% in 2010. Although initially few central ...
Chapter Ten - lhu.edu.tw
... assets to money assets increases, the real money demand falls and the real money demand curve moves to the left. The equilibrium real interest rate decreases. So the LM curve shifts to the right. ...
... assets to money assets increases, the real money demand falls and the real money demand curve moves to the left. The equilibrium real interest rate decreases. So the LM curve shifts to the right. ...
Document
... extent, can set its own policies. Effectively, however, the 12 banks act largely in unison on major policy issues, with effective control of major policy decisions resting with the Board of Governors and the Federal Open Market Committee of the Federal Reserve System, headquartered in Washington, D. ...
... extent, can set its own policies. Effectively, however, the 12 banks act largely in unison on major policy issues, with effective control of major policy decisions resting with the Board of Governors and the Federal Open Market Committee of the Federal Reserve System, headquartered in Washington, D. ...
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... (public retirement and disability pensions), unemployment insurance and other “entitlement” programs. For the budget as a whole, BEA specified “pay-as-you-go” (PAYGO) restrictions on taxes and entitlement spending (other than Social Security), requiring that legislation on such items does not increa ...
... (public retirement and disability pensions), unemployment insurance and other “entitlement” programs. For the budget as a whole, BEA specified “pay-as-you-go” (PAYGO) restrictions on taxes and entitlement spending (other than Social Security), requiring that legislation on such items does not increa ...
NBER WORKING PAPER SERIES OPTIMAL MONETARY POLICY WITH COLLATERALIZED
... consumption, the borrower needs to optimally balance the purchasing of new debt with an increase in labor supply required to finance new collateral. The tighter the borrowing constraint, the more stringent the necessity of increasing labor supply. Importantly, monetary policy can exert an influence ...
... consumption, the borrower needs to optimally balance the purchasing of new debt with an increase in labor supply required to finance new collateral. The tighter the borrowing constraint, the more stringent the necessity of increasing labor supply. Importantly, monetary policy can exert an influence ...
Fiscal and Monetary Policies The Nominal Anchor
... (abstracting, in particular, from the theoretical possibility of explosive paths for in‡ation) an interest-rate rule that obeys the Taylor Principle (reacts to in‡ation with a coe¢ cient larger than unity) implies a unique bounded equilibrium, in a benchmark model the central bank’s feedback rule ma ...
... (abstracting, in particular, from the theoretical possibility of explosive paths for in‡ation) an interest-rate rule that obeys the Taylor Principle (reacts to in‡ation with a coe¢ cient larger than unity) implies a unique bounded equilibrium, in a benchmark model the central bank’s feedback rule ma ...
Recent studies have found that PEFM is more likely in new
... exchange rate regimes do not face the same risk of a speculative attack, under a flexible exchange rate neither a country’s real exchange rate nor its level of reserves should affect governments’ decision to engage in fiscal electioneering in the same manner. This argument is tested in this article ...
... exchange rate regimes do not face the same risk of a speculative attack, under a flexible exchange rate neither a country’s real exchange rate nor its level of reserves should affect governments’ decision to engage in fiscal electioneering in the same manner. This argument is tested in this article ...
Economic Outlook 2012
... banknotes, bury them at suitable depths in disused coal mines … It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.” (Keynes, General Theory, 1937) Tuesday, May 23, 2017 ...
... banknotes, bury them at suitable depths in disused coal mines … It would, indeed, be more sensible to build houses and the like; but if there are political and practical difficulties in the way of this, the above would be better than nothing.” (Keynes, General Theory, 1937) Tuesday, May 23, 2017 ...
The Political Economy of Government Debt
... to pursue sub optimal fiscal policies which lead to the accumulation of excessive debt, where “excessive” is in reference of what a benevolent social planner would do? In other words, how far are the observed pattern of debt accumulation and fluctuations in line with normative prescription of the li ...
... to pursue sub optimal fiscal policies which lead to the accumulation of excessive debt, where “excessive” is in reference of what a benevolent social planner would do? In other words, how far are the observed pattern of debt accumulation and fluctuations in line with normative prescription of the li ...