Fiscal policy - Binus Repository
... the loanable funds market, increasing the demand (to D2). • With the new classical view, people save to pay expected higher future taxes (raising the supply of loanable funds to S2.) • This permits the government to borrow the funds to finance the deficit without pushing up the interest rate. Jump t ...
... the loanable funds market, increasing the demand (to D2). • With the new classical view, people save to pay expected higher future taxes (raising the supply of loanable funds to S2.) • This permits the government to borrow the funds to finance the deficit without pushing up the interest rate. Jump t ...
Board of Governors of the Federal Reserve System IFDP 1058
... The death of cash has often been predicted, and it would seem that demand for currency would thus grow somewhat more slowly than income. Despite a general increase in the variety of payment media as well as increasing noncash means of payment, though, U.S. currency in circulation has grown at an ave ...
... The death of cash has often been predicted, and it would seem that demand for currency would thus grow somewhat more slowly than income. Despite a general increase in the variety of payment media as well as increasing noncash means of payment, though, U.S. currency in circulation has grown at an ave ...
Grenada Prospectus June 2009
... As a consequence of this economic catastrophe, Grenada was forced to restructure its commercial debt in 2005. This exercise was highly successful with 91% participation and resulted in a reprofiling of the debt from 2012 to 2025 with step up coupons. It should be noted that the Government of Grenada ...
... As a consequence of this economic catastrophe, Grenada was forced to restructure its commercial debt in 2005. This exercise was highly successful with 91% participation and resulted in a reprofiling of the debt from 2012 to 2025 with step up coupons. It should be noted that the Government of Grenada ...
Slides 1
... Thus, the general message is that the issue is not just a smaller public sector (in the form of a lower debt burden, lower public spending, or both), but the spending-tax mix. The benefits of a smaller public sector are higher, or the costs are lower, when they are used to finance a reduction i ...
... Thus, the general message is that the issue is not just a smaller public sector (in the form of a lower debt burden, lower public spending, or both), but the spending-tax mix. The benefits of a smaller public sector are higher, or the costs are lower, when they are used to finance a reduction i ...
Inflation Dynamics During and After the Zero Lower Bound Introduction
... targeted by the central bank and nominal interest rates are positive. (B) Inflation rates are negative and nominal interest rates are zero. We refer to (A) as the targeted-inflation outcome and (B) as the deflation outcome. Technically speaking, the model has multiple equilibria: given the same set ...
... targeted by the central bank and nominal interest rates are positive. (B) Inflation rates are negative and nominal interest rates are zero. We refer to (A) as the targeted-inflation outcome and (B) as the deflation outcome. Technically speaking, the model has multiple equilibria: given the same set ...
Grad8
... and further increases in income. Notice that the autonomous spending multiplier is larger when the marginal propensity to consume C’ is larger. This indicates that the employment, output, and consumption levels in economies where people exhibit a higher propensity to consume are potentially more vol ...
... and further increases in income. Notice that the autonomous spending multiplier is larger when the marginal propensity to consume C’ is larger. This indicates that the employment, output, and consumption levels in economies where people exhibit a higher propensity to consume are potentially more vol ...
Gold sterilization and the recession of 1937–1938
... As noted earlier, economists have failed to uncover convincing evidence that the doubling of reserve requirements was responsible for this shift. Because banks held large excess reserves, the increased reserve requirements were not binding and do not appear to have constrained bank lending (Calomiri ...
... As noted earlier, economists have failed to uncover convincing evidence that the doubling of reserve requirements was responsible for this shift. Because banks held large excess reserves, the increased reserve requirements were not binding and do not appear to have constrained bank lending (Calomiri ...
Debt Dynamics, Fiscal Deficit, and Stability in Government
... GDP reduces ultimately the ratio of debt to GDP. The higher the share of borrowing utilized in capital formation through the capital account, the greater will be the growth enhancing effect. Public investment in health, education, and research and development contributes to higher economic growth. T ...
... GDP reduces ultimately the ratio of debt to GDP. The higher the share of borrowing utilized in capital formation through the capital account, the greater will be the growth enhancing effect. Public investment in health, education, and research and development contributes to higher economic growth. T ...
The Great Liquidity Boom and the Monetary Superpower Hypothesis
... way around the world to these advanced economies. Along the way, it depressed real long-term interest rates, which in turn discouraged domestic saving and increased asset values (particularly in housing) in these recipient economies. The excess savings also encouraged the U.S. financial sector to cr ...
... way around the world to these advanced economies. Along the way, it depressed real long-term interest rates, which in turn discouraged domestic saving and increased asset values (particularly in housing) in these recipient economies. The excess savings also encouraged the U.S. financial sector to cr ...
The Big Picture of Monetary–Fiscal Interactions
... The Battle scenario has two main testable predictions about the effect of legislating a stronger monetary commitment – commonly implemented as an explicit numerical target for average inflation. Prediction 1: Stronger monetary commitment may lead to an improvement in monetary outcomes: lower and/or ...
... The Battle scenario has two main testable predictions about the effect of legislating a stronger monetary commitment – commonly implemented as an explicit numerical target for average inflation. Prediction 1: Stronger monetary commitment may lead to an improvement in monetary outcomes: lower and/or ...
Foreign Banks, Foreign Lending and Cross-
... foreign direct investment. Moreover, they hold a range of other securities as portfolio investment, for example government and corporate bonds and shares traded on stock exchanges. As a result, prices of assets on the domestic financial markets often change in line with global market sentiment. In a ...
... foreign direct investment. Moreover, they hold a range of other securities as portfolio investment, for example government and corporate bonds and shares traded on stock exchanges. As a result, prices of assets on the domestic financial markets often change in line with global market sentiment. In a ...
The Great Liquidity Boom and the Monetary Superpower Hypothesis
... way around the world to these advanced economies. Along the way, it depressed real long-term interest rates, which in turn discouraged domestic saving and increased asset values (particularly in housing) in these recipient economies. The excess savings also encouraged the U.S. financial sector to cr ...
... way around the world to these advanced economies. Along the way, it depressed real long-term interest rates, which in turn discouraged domestic saving and increased asset values (particularly in housing) in these recipient economies. The excess savings also encouraged the U.S. financial sector to cr ...
File
... Devaluation leads to inflation. ( However, many economists are of the view that it is inflation which leads to Devaluation). Devaluation makes our currency cheap in term of foreign currency. It also makes all those goods cheap which are priced in rupees. Consequently exports price fall and import pr ...
... Devaluation leads to inflation. ( However, many economists are of the view that it is inflation which leads to Devaluation). Devaluation makes our currency cheap in term of foreign currency. It also makes all those goods cheap which are priced in rupees. Consequently exports price fall and import pr ...
The Evolution of US Monetary Policy: 2000-2007
... responses to inflation and output or whether it deviated from that systematic behavior to a greater or lesser extent. Thus, we can use estimates from this model to judge, more specifically, how Federal Reserve policy changed, moving from the period of the Great Moderation to the period leading up t ...
... responses to inflation and output or whether it deviated from that systematic behavior to a greater or lesser extent. Thus, we can use estimates from this model to judge, more specifically, how Federal Reserve policy changed, moving from the period of the Great Moderation to the period leading up t ...
A Technical study on the determinants and outlook of
... Significant efforts have been made by researchers in recent years to determine private savings behavior both at an individual- and a cross-country level. Among other reasons, the long-debated relationship between savings and the level (as well as the growth rate) of income has provided a strong moti ...
... Significant efforts have been made by researchers in recent years to determine private savings behavior both at an individual- and a cross-country level. Among other reasons, the long-debated relationship between savings and the level (as well as the growth rate) of income has provided a strong moti ...
The Evolution of US Monetary Policy: 2000 - 2007
... responses to inflation and output or whether it deviated from that systematic behavior to a greater or lesser extent. Thus, we can use estimates from this model to judge, more specifically, how Federal Reserve policy changed, moving from the period of the Great Moderation to the period leading up t ...
... responses to inflation and output or whether it deviated from that systematic behavior to a greater or lesser extent. Thus, we can use estimates from this model to judge, more specifically, how Federal Reserve policy changed, moving from the period of the Great Moderation to the period leading up t ...
The data are collected at a quarterly frequency, over a
... far from this theoretical ideal. Changing the composition of financial portfolios may entail significant adjustment costs; an extreme form of these costs is represented by limited participation, whereby some agents are permanently excluded from certain financial markets (Christiano et al, 1992). Asy ...
... far from this theoretical ideal. Changing the composition of financial portfolios may entail significant adjustment costs; an extreme form of these costs is represented by limited participation, whereby some agents are permanently excluded from certain financial markets (Christiano et al, 1992). Asy ...
New Keynesian versus Old Keynesian Government Spending
... stimulus bill is a mixture of increased transfer payments, tax refunds, and higher government purchases, the path for the deficit is different from the path of the increase in government purchases. One component of federal government transfers—certain transfers going to state and local governments—i ...
... stimulus bill is a mixture of increased transfer payments, tax refunds, and higher government purchases, the path for the deficit is different from the path of the increase in government purchases. One component of federal government transfers—certain transfers going to state and local governments—i ...
Caution or Activism? Monetary Policy Strategies in an Open Economy
... in a two-country environment. A central bank contemplating an activist policy must therefore take into account that information generated by its own policy will also be used in the learning process of the other central bank. When there is policy coordination this is not a problem as informational sp ...
... in a two-country environment. A central bank contemplating an activist policy must therefore take into account that information generated by its own policy will also be used in the learning process of the other central bank. When there is policy coordination this is not a problem as informational sp ...
The Federal Budget and the National Debt (15th ed.)
... social security trust fund) and the Federal Reserve banks. The other 60.2% is held privately (domestic & abroad). • Of the $9.91 trillion of privately held federal debt, 61.3% is owned by foreigners and 38.7% is held by domestic investors. Copyright ©2015 Cengage Learning. All rights reserved. May n ...
... social security trust fund) and the Federal Reserve banks. The other 60.2% is held privately (domestic & abroad). • Of the $9.91 trillion of privately held federal debt, 61.3% is owned by foreigners and 38.7% is held by domestic investors. Copyright ©2015 Cengage Learning. All rights reserved. May n ...
uganda country debt profile
... Of the above four factors, the issuing of domestic debt papers for monetary policy implementation purposes has been the major driver of the country’s increasing domestic debt. However, this is directly linked to the country’s external debt developments as explained hereunder. The country’s external ...
... Of the above four factors, the issuing of domestic debt papers for monetary policy implementation purposes has been the major driver of the country’s increasing domestic debt. However, this is directly linked to the country’s external debt developments as explained hereunder. The country’s external ...
Background document - European Central Bank
... sectors and the rest of the world equal total uses. Each account leads to a meaningful balancing item, the value of which equals total resources minus total uses. Typically, such balancing items, such as GDP or net saving, are important economic indicators. They are carried over to the next account. ...
... sectors and the rest of the world equal total uses. Each account leads to a meaningful balancing item, the value of which equals total resources minus total uses. Typically, such balancing items, such as GDP or net saving, are important economic indicators. They are carried over to the next account. ...
Why Has the Net Income Deficit Narrowed?
... influences on these yields in more detail. It does so by considering the influences of two key factors: (i) changes in the yields paid on specific types of foreign debt and equity liabilities; and (ii) changes in the composition of foreign debt and equity liabilities. 3 While Australia has an overa ...
... influences on these yields in more detail. It does so by considering the influences of two key factors: (i) changes in the yields paid on specific types of foreign debt and equity liabilities; and (ii) changes in the composition of foreign debt and equity liabilities. 3 While Australia has an overa ...