NATIONAL OPEN UNIVERSITY OF NIGERIA MACROECONOMICS
... which carries three credit units for third year level economics students in the School of Art and Social Sciences at the National Open University, Nigeria. This coursework will be useful in your academic pursuit and help undergraduate to gain in-depth insight in Macroeconomic theory. This course gui ...
... which carries three credit units for third year level economics students in the School of Art and Social Sciences at the National Open University, Nigeria. This coursework will be useful in your academic pursuit and help undergraduate to gain in-depth insight in Macroeconomic theory. This course gui ...
Fiscal Policy in the EMU and Outside
... precludes automatic credit facilities, and thereby monetization of public deficits are ruled out. So governments must finance expenditures by raising taxes or issuing bonds and securities. Countries that have relied on monetary financing (seigniorage) as an important source of public revenue must tu ...
... precludes automatic credit facilities, and thereby monetization of public deficits are ruled out. So governments must finance expenditures by raising taxes or issuing bonds and securities. Countries that have relied on monetary financing (seigniorage) as an important source of public revenue must tu ...
D : M F I
... result from temporary mismatches in revenue and expenditures of the Union Government, management of which requires accommodation in the nature of ways and means advances. These transient mismatches, largely of a cyclical nature, may at times go beyond an accounting time frame of a year, but there co ...
... result from temporary mismatches in revenue and expenditures of the Union Government, management of which requires accommodation in the nature of ways and means advances. These transient mismatches, largely of a cyclical nature, may at times go beyond an accounting time frame of a year, but there co ...
PPT - UNSD
... Production of all goods that are produced by households whether for sale or not — included in the output? Activity of the own-account money lenders included in the output? Value of output of goods and services produced by households and corporations for own final use, when estimated on cost basis, i ...
... Production of all goods that are produced by households whether for sale or not — included in the output? Activity of the own-account money lenders included in the output? Value of output of goods and services produced by households and corporations for own final use, when estimated on cost basis, i ...
Optimal Monetary Policy in a Currency Union: Implications of a
... same degree of nominal rigidity, it is optimal to stabilize the price level for the union as a whole. Lombardo (2006) emphasizes the importance of country-speci…c degrees of product market competition for the design of optimal monetary policy. If the currency union has a trade linkage with the rest ...
... same degree of nominal rigidity, it is optimal to stabilize the price level for the union as a whole. Lombardo (2006) emphasizes the importance of country-speci…c degrees of product market competition for the design of optimal monetary policy. If the currency union has a trade linkage with the rest ...
PPT - United Nations Statistics Division
... Production of all goods that are produced by households whether for sale or not — included in the output? Activity of the own-account money lenders included in the output? Value of output of goods and services produced by households and corporations for own final use, when estimated on cost basis, i ...
... Production of all goods that are produced by households whether for sale or not — included in the output? Activity of the own-account money lenders included in the output? Value of output of goods and services produced by households and corporations for own final use, when estimated on cost basis, i ...
Classification of Sectors 2012
... exercise of its principal function. An institutional unit keeps a complete set of accounts or is able to compile a complete set of accounts. An institutional unit has autonomy of decision in respect of its principal function, a unit is: • Entitled to own goods and assets in its own right; it will be ...
... exercise of its principal function. An institutional unit keeps a complete set of accounts or is able to compile a complete set of accounts. An institutional unit has autonomy of decision in respect of its principal function, a unit is: • Entitled to own goods and assets in its own right; it will be ...
Domestic versus External Borrowing and Fiscal Policy in Emerging
... foreign borrowing, with most papers addressing only external debt.5 Furthermore, most studies of sovereign external debt assume that the capacity to raise foreign exchange is the binding constraint in the sovereign’s repayment decision. On the other hand, several authors have focused on the fiscal c ...
... foreign borrowing, with most papers addressing only external debt.5 Furthermore, most studies of sovereign external debt assume that the capacity to raise foreign exchange is the binding constraint in the sovereign’s repayment decision. On the other hand, several authors have focused on the fiscal c ...
Instruments, rules and household debt: The effects of fiscal policy J. Andrés
... in uncharted territory in terms of the effect of their actions. In this paper we contribute to fill that gap in the literature and explore the effect that high private debt has on alternative fiscal strategies. We study how the conditions of access to mortgaged debt by households shapes both the mac ...
... in uncharted territory in terms of the effect of their actions. In this paper we contribute to fill that gap in the literature and explore the effect that high private debt has on alternative fiscal strategies. We study how the conditions of access to mortgaged debt by households shapes both the mac ...
The Contributions of Milton Friedman to Economics
... Friedman’s defense of free markets and criticism of government intervention in the marketplace were always controversial. By basing his arguments on the logic of price theory, Friedman kept debate on a high intellectual level. Friedman (Friedman and Kuznets 1945) established the pattern for his cont ...
... Friedman’s defense of free markets and criticism of government intervention in the marketplace were always controversial. By basing his arguments on the logic of price theory, Friedman kept debate on a high intellectual level. Friedman (Friedman and Kuznets 1945) established the pattern for his cont ...
v. saving behaviour and the effectiveness of fiscal policy
... through a variety of channels besides tax discounting. The most direct, incorporated into most conventional aggregate demand models, may arise because a fiscal stimulus boosts disposable income and the propensity to consume out of an extra dollar of income is generally significantly less than one in ...
... through a variety of channels besides tax discounting. The most direct, incorporated into most conventional aggregate demand models, may arise because a fiscal stimulus boosts disposable income and the propensity to consume out of an extra dollar of income is generally significantly less than one in ...
The Optimal Level of International Reserves For Emerging Market
... anticipation of crises with an output cost of unprecedented size. Our paper contributes to a long line of literature on reserves adequacy. The …rst costbene…t analyses of the optimal level of reserves were developed in the 1960s and the 1970s, when the focus was mainly on the current account (Helle ...
... anticipation of crises with an output cost of unprecedented size. Our paper contributes to a long line of literature on reserves adequacy. The …rst costbene…t analyses of the optimal level of reserves were developed in the 1960s and the 1970s, when the focus was mainly on the current account (Helle ...
Government debt: causes, effects and limits
... debt corresponds – either directly or indirectly through financial institutions – to creditor assets in the form of government securities and, in macroeconomic terms, both offset each other. Especially in the case of domestic indebtedness, government debt therefore differs substantially from the ind ...
... debt corresponds – either directly or indirectly through financial institutions – to creditor assets in the form of government securities and, in macroeconomic terms, both offset each other. Especially in the case of domestic indebtedness, government debt therefore differs substantially from the ind ...
Fiscal Rules and Macroeconomic Stability
... the long run. Finally we look into the recent EMU experience that suggests that the Stability and Growth Pact (SGP hereafter) has proved to be useful in restraining debt and deficits. Fiscal policy seems to be a useful stabilizing instrument in the short run, while high debt and deficits have harmin ...
... the long run. Finally we look into the recent EMU experience that suggests that the Stability and Growth Pact (SGP hereafter) has proved to be useful in restraining debt and deficits. Fiscal policy seems to be a useful stabilizing instrument in the short run, while high debt and deficits have harmin ...
Fiscal Strategy 2015
... limiting the growth of the largest expenditure category along with the increase of certain tax rates. In the next period, the restrictiveness of the fiscal policy will include implementation of the adopted program of fiscal consolidation, which will ensure the reduction of the high fiscal deficit an ...
... limiting the growth of the largest expenditure category along with the increase of certain tax rates. In the next period, the restrictiveness of the fiscal policy will include implementation of the adopted program of fiscal consolidation, which will ensure the reduction of the high fiscal deficit an ...
Article: Interest and inflation rates through the lens of the theory of
... in Sweden, the US, the UK and Canada the level is five to ten per cent higher. Additionally, GDP per capita is at the pre-crisis level in all these countries, see Figure 1(b). Sweden only just reaches the pre-crisis level and both the euro area and the UK are below that level. The central banks reac ...
... in Sweden, the US, the UK and Canada the level is five to ten per cent higher. Additionally, GDP per capita is at the pre-crisis level in all these countries, see Figure 1(b). Sweden only just reaches the pre-crisis level and both the euro area and the UK are below that level. The central banks reac ...
MacroPolicy - Purdue Agriculture
... consumers want to buy 1,000 pizzas, but restaurants make 11,000 pizzas for sale. There is a surplus of pizza. In such a situation, desperate restaurant owners would try to attract customers by cutting the price of pizza. Some clever consumers might even offer a lower price to the owner to try to tak ...
... consumers want to buy 1,000 pizzas, but restaurants make 11,000 pizzas for sale. There is a surplus of pizza. In such a situation, desperate restaurant owners would try to attract customers by cutting the price of pizza. Some clever consumers might even offer a lower price to the owner to try to tak ...
Fiscal Rules for Resource Windfall Allocation: The Case of
... and …scal or macroeconomic stability. The Agénor framework incorporates a range of externalities associated with public infrastructure, which include a direct complementary e¤ect with private investment and lower distribution costs, to capture the constraints faced by low-income countries. Additiona ...
... and …scal or macroeconomic stability. The Agénor framework incorporates a range of externalities associated with public infrastructure, which include a direct complementary e¤ect with private investment and lower distribution costs, to capture the constraints faced by low-income countries. Additiona ...
UNIVERSITY OF CALICUT SCHOOL OF DISTANCE EDUCATION II SEMESTER BA ECONOMICS
... Some markets involve a physical marketplace. Traders on the Bombay Stock Exchange get together in a trading pit. Traders on eBay come together in an electronic marketplace. Other markets, which are more familiar to most of us, involve physical stores that may or may not be next door to each other, a ...
... Some markets involve a physical marketplace. Traders on the Bombay Stock Exchange get together in a trading pit. Traders on eBay come together in an electronic marketplace. Other markets, which are more familiar to most of us, involve physical stores that may or may not be next door to each other, a ...
Chapter 36 MC — Five Debates Over Macroeconomic Policy
... 7. President George W. Bush and congress cut taxes and raised government expenditures in 2003. Which of the following is not correct? a. At the time the economy was just moving into a recession. b. While there was subsequent improvement in economic performance, it’s not entirely clear that this was ...
... 7. President George W. Bush and congress cut taxes and raised government expenditures in 2003. Which of the following is not correct? a. At the time the economy was just moving into a recession. b. While there was subsequent improvement in economic performance, it’s not entirely clear that this was ...
Fiscal Policy Reaction in the Short Term for Assessing Fiscal
... values of the primary balance and discount rates. It shows whether the government can generate future primary surpluses whose discounted value equals the current stock of public debt, making the assumption that the transversality condition is fulfilled (the terminal value of the public debt stock co ...
... values of the primary balance and discount rates. It shows whether the government can generate future primary surpluses whose discounted value equals the current stock of public debt, making the assumption that the transversality condition is fulfilled (the terminal value of the public debt stock co ...
STATE BANK OF PAKISTAN SBP Working Paper Series
... absolute and relative terms. This table shows that: aggregate income is more volatile in developing countries as compared with developed countries, private consumption and investment relative to aggregate income are substantially more volatile, net exports is countercyclical with aggregate income an ...
... absolute and relative terms. This table shows that: aggregate income is more volatile in developing countries as compared with developed countries, private consumption and investment relative to aggregate income are substantially more volatile, net exports is countercyclical with aggregate income an ...
Exchange rate valuation and its impact on the real economy
... adjusted PPP approach aims to isolate the role of one factor that helps to explain why PPP may not hold – the fact that LOOP can only be expected to hold for tradable goods. Put simply, the standard BS model predicts that countries with highly productive tradable sectors have higher non-tradable pri ...
... adjusted PPP approach aims to isolate the role of one factor that helps to explain why PPP may not hold – the fact that LOOP can only be expected to hold for tradable goods. Put simply, the standard BS model predicts that countries with highly productive tradable sectors have higher non-tradable pri ...
ESSAYS ON MONETARY AND FISCAL POLICY By Andrea Pescatori
... The thesis is focused on the policy implications of financial markets imperfections for the business cycle. The view that the financial structure and the performance of credit markets may be important to understand macroeconomic facts dates back at least to Gurley and Shaw (1955). However, many resu ...
... The thesis is focused on the policy implications of financial markets imperfections for the business cycle. The view that the financial structure and the performance of credit markets may be important to understand macroeconomic facts dates back at least to Gurley and Shaw (1955). However, many resu ...