Lessons from the OECD workshop: Accounting for Implicit Pension
... Use actuarial valuations for both stocks and flows (aligns on business accounting, improvement in the measure of the cost of labour) Allocate the funds’ net assets (liabilities) to sponsors ...
... Use actuarial valuations for both stocks and flows (aligns on business accounting, improvement in the measure of the cost of labour) Allocate the funds’ net assets (liabilities) to sponsors ...
The Capital Structure of Nations
... equity, a stock split just like a change in currency denomination should have neutral e¤ects in a frictionless economic environment. A stock split could a¤ect the market capitalization of a company in practice by improving secondary market liquidity. But, similar e¤ects can also be found for nation ...
... equity, a stock split just like a change in currency denomination should have neutral e¤ects in a frictionless economic environment. A stock split could a¤ect the market capitalization of a company in practice by improving secondary market liquidity. But, similar e¤ects can also be found for nation ...
Debt reduction without default?
... market conditions, but in reality its interventions have been only of a ‘one-way’ character, sustaining the price of peripheral government debt. At the same time, however, the ECB has let it be known that in the end it will not let (fiscal) policy-makers off the hook by a wholesale funding of old an ...
... market conditions, but in reality its interventions have been only of a ‘one-way’ character, sustaining the price of peripheral government debt. At the same time, however, the ECB has let it be known that in the end it will not let (fiscal) policy-makers off the hook by a wholesale funding of old an ...
FRBSF E L CONOMIC ETTER
... assume that nominal interest rates will tend toward some equilibrium, or “natural,” real rate of interest plus an adjustment for expected long-run inflation. Unfortunately, the “natural” real rate of interest is not observable, so it must be estimated. Monetary policymakers are interested in estimat ...
... assume that nominal interest rates will tend toward some equilibrium, or “natural,” real rate of interest plus an adjustment for expected long-run inflation. Unfortunately, the “natural” real rate of interest is not observable, so it must be estimated. Monetary policymakers are interested in estimat ...
Glossary of key terms in international economics
... are sold in the forward market. Crawling peg system The system under which par values or exchange rates are changed by very small preannounced amounts at frequent and clearly specified intervals until the equilibrium exchange rate is reached. Credit tranche The amounts that a member nation could bor ...
... are sold in the forward market. Crawling peg system The system under which par values or exchange rates are changed by very small preannounced amounts at frequent and clearly specified intervals until the equilibrium exchange rate is reached. Credit tranche The amounts that a member nation could bor ...
NBER WORKING PAPER SERIES ON THE OR IRRELEVANCE OF PUBLIC
... be made about the role of the government in redisgeneral. If, behind the veil of ignorance, before individuals knew the endowments with which they were to be born they could sell enforceable Insurance policies to each other, with the payoffs a function of what endowments they were presented with, or ...
... be made about the role of the government in redisgeneral. If, behind the veil of ignorance, before individuals knew the endowments with which they were to be born they could sell enforceable Insurance policies to each other, with the payoffs a function of what endowments they were presented with, or ...
Japan`s Liquidity Trap - Levy Economics Institute of Bard College
... Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan’s liquidity trap in light of the structure and performance of the country’s economy since the onset of stagnation. It also analyzes the country’s liquidity tra ...
... Japan has experienced stagnation, deflation, and low interest rates for decades. It is caught in a liquidity trap. This paper examines Japan’s liquidity trap in light of the structure and performance of the country’s economy since the onset of stagnation. It also analyzes the country’s liquidity tra ...
Global Views 01-23
... As for further colour on how the Fed views international risks, we’re uncertain but err closer to the side of seeing optimism going forward. Some argue that if other central banks like the ECB and BoC are adding stimulus, the BoE is delaying hikes, and the BoJ is expected to do more, then that compl ...
... As for further colour on how the Fed views international risks, we’re uncertain but err closer to the side of seeing optimism going forward. Some argue that if other central banks like the ECB and BoC are adding stimulus, the BoE is delaying hikes, and the BoJ is expected to do more, then that compl ...
Robert Philip Flood Nancy Peregriin Marion Working Paper No. 500 1050
... under the FLEX regime, since both real and monetary foreign disturbances penetrate the small country via an interest-rate channel as well as a price channel. ...
... under the FLEX regime, since both real and monetary foreign disturbances penetrate the small country via an interest-rate channel as well as a price channel. ...
Estimating New Zealand’s neutral interest rate AN2015/05 September 2015
... The Bank is directed by legislation and the Policy Targets Agreement 2 to keep future inflation between 1 percent and 3 percent percent on average over the medium-term, with a focus on the 2 percent mid-point. The Bank’s primary instrument to achieve this target is the Official Cash Rate (OCR). Sett ...
... The Bank is directed by legislation and the Policy Targets Agreement 2 to keep future inflation between 1 percent and 3 percent percent on average over the medium-term, with a focus on the 2 percent mid-point. The Bank’s primary instrument to achieve this target is the Official Cash Rate (OCR). Sett ...
Macroeconomics
... Assume I loan you $100 at a rate of 6 percent, and that the inflation rate is 6 percent. How much of an increase in purchasing power do I obtain when you pay me back? Consequently, what is the real rate of interest on this loan? Develop an equation that contains the real rate of interest, the nomina ...
... Assume I loan you $100 at a rate of 6 percent, and that the inflation rate is 6 percent. How much of an increase in purchasing power do I obtain when you pay me back? Consequently, what is the real rate of interest on this loan? Develop an equation that contains the real rate of interest, the nomina ...
Real Interest Rate
... c. It must increase the purchases of foreign goods & services. d. It must increase the domestic interest rates on its bonds. e. It must limit the flow of foreign capital investment. (59%) 8. Econ can produce either 2 tons of cocoa or 4 cars with 10 units of labor. Nomics can produce either 5 tons of ...
... c. It must increase the purchases of foreign goods & services. d. It must increase the domestic interest rates on its bonds. e. It must limit the flow of foreign capital investment. (59%) 8. Econ can produce either 2 tons of cocoa or 4 cars with 10 units of labor. Nomics can produce either 5 tons of ...
department of treasury - Bank of Papua New Guinea
... its financial obligations. PNG’s current sovereign credit rating rated by credit rating agencies is B+ and a negative outlook. The negative outlook emanated from the prolonged Fiscal and External imbalances continuing on from 2015. ...
... its financial obligations. PNG’s current sovereign credit rating rated by credit rating agencies is B+ and a negative outlook. The negative outlook emanated from the prolonged Fiscal and External imbalances continuing on from 2015. ...
FISCAL AND MONETARY STABILIZATION POLICY OF THE
... contribute to the elimination, or at least mitigation of fluctuations which occur in the individual markets, and thus completely or at least partially provide conditions of general equilibrium, that is, create preconditions for a stable and uninterrupted economic growth. From the macroeconomic point ...
... contribute to the elimination, or at least mitigation of fluctuations which occur in the individual markets, and thus completely or at least partially provide conditions of general equilibrium, that is, create preconditions for a stable and uninterrupted economic growth. From the macroeconomic point ...
Initiation By Fire: Alan Greenspan Faced a Stock Market Crash Just
... meeting on Sept. 22 if circumstances warranted it. This gave Greenspan a window of opportunity to use his authority in between FOMC meetings to initiate small adjustments in the federal funds rate, the interest that banks charge each other to lend reserves. On Sept. 3, the rate moved up a quarter of ...
... meeting on Sept. 22 if circumstances warranted it. This gave Greenspan a window of opportunity to use his authority in between FOMC meetings to initiate small adjustments in the federal funds rate, the interest that banks charge each other to lend reserves. On Sept. 3, the rate moved up a quarter of ...
SOLUTIONS TO MACRO END-OF-CHAPTER
... $842,302 / 12,547,300 = $ 67,130 per household in 2006. Measures how much money the average household earns after taxes but including transfer payments from government each year in Canada. x) A household is a self-contained unit of economic and social organization. Like a cell in biology, it is the ...
... $842,302 / 12,547,300 = $ 67,130 per household in 2006. Measures how much money the average household earns after taxes but including transfer payments from government each year in Canada. x) A household is a self-contained unit of economic and social organization. Like a cell in biology, it is the ...
Peterson Institute for International Economics
... Greece’s bailout The EU, jointly with the IMF, is about to finance Greece’s public debt while Greek officials are required to bring its budget into order, under close European Commission and IMF supervision. The rescue package is conditional on Greece’s government implementing a strict budget auster ...
... Greece’s bailout The EU, jointly with the IMF, is about to finance Greece’s public debt while Greek officials are required to bring its budget into order, under close European Commission and IMF supervision. The rescue package is conditional on Greece’s government implementing a strict budget auster ...
Woodford and Wicksell: a Cashless Economy or a Moneyless
... science, it should, then, be quite natural to make the bridge between theory and practice. Unfortunately, most of the time a gap emerges between academics and policymakers. Goodhart (2005) for instance -in his survey of the last 25 years of macroeconomics history- raises the lack of realism as the m ...
... science, it should, then, be quite natural to make the bridge between theory and practice. Unfortunately, most of the time a gap emerges between academics and policymakers. Goodhart (2005) for instance -in his survey of the last 25 years of macroeconomics history- raises the lack of realism as the m ...
by Carlo Panico and Antonio Pinto Paper presented at the Conference on
... four forms of regulation. It aimed at reinforcing the position of the authorities via à vis the financial sector by imposing limits to its size to avoid that it grew more than others and acquired a significant weight in the economy. At the same time, limitations on pricing (in the US in the form of ...
... four forms of regulation. It aimed at reinforcing the position of the authorities via à vis the financial sector by imposing limits to its size to avoid that it grew more than others and acquired a significant weight in the economy. At the same time, limitations on pricing (in the US in the form of ...
Modern Macroeconomics and Monetary Policy
... Copyright ©2010 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
... Copyright ©2010 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
CH_14_13th
... Copyright ©2010 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
... Copyright ©2010 Cengage Learning. All rights reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible web site, in whole or in part. ...
12-4
... individual’s debt for the following reasons: – Government debt is ongoing – it does not ...
... individual’s debt for the following reasons: – Government debt is ongoing – it does not ...
NBER WORKING PAPER SERIES DEPRESSION Peter F. Basile
... expense and risk decline pari passu. Thus the rate of interest which the typical borrower has to pay may decline more slowly than the pure rate of interest, and may be incapable of being brought, by the methods of the existing banking and financial organization, below a certain minimum figure. This ...
... expense and risk decline pari passu. Thus the rate of interest which the typical borrower has to pay may decline more slowly than the pure rate of interest, and may be incapable of being brought, by the methods of the existing banking and financial organization, below a certain minimum figure. This ...
debt and macroeconomic stability
... amplified, particularly when asset price boom-bust cycles act through the value of collateral and associated margin calls, which accentuate cyclical fluctuations and generate debt-deflation pressures. Borrowers using assets as collateral are limited in their ability to borrow if the market value of ...
... amplified, particularly when asset price boom-bust cycles act through the value of collateral and associated margin calls, which accentuate cyclical fluctuations and generate debt-deflation pressures. Borrowers using assets as collateral are limited in their ability to borrow if the market value of ...