FedViews
... Data over the past few months show that the expected rebound is under way. Overall retail sales bounced back after February, and automobile sales in May came close to their pre-recession peak rate of 17 million on an annual basis. Moreover, employment gains from February through May generally made u ...
... Data over the past few months show that the expected rebound is under way. Overall retail sales bounced back after February, and automobile sales in May came close to their pre-recession peak rate of 17 million on an annual basis. Moreover, employment gains from February through May generally made u ...
- Troy Media
... strong statement would just point out that the relevant trade-off is between the size (level) of government and the generality of its policies. The more general a policy the less likely it is to have a meaningful effect of individual economic actors within the system. Consider that the Bank of Canad ...
... strong statement would just point out that the relevant trade-off is between the size (level) of government and the generality of its policies. The more general a policy the less likely it is to have a meaningful effect of individual economic actors within the system. Consider that the Bank of Canad ...
Slide 1
... Only government M, B matter. Private M (checks), foreign M (dollarized), private B (“liquidity”) do not matter for P. Exchange rate reflects “faith in government,” not money stocks, and is volatile. Inflation still feels like excess “aggregate demand” or “money chasing goods.” ...
... Only government M, B matter. Private M (checks), foreign M (dollarized), private B (“liquidity”) do not matter for P. Exchange rate reflects “faith in government,” not money stocks, and is volatile. Inflation still feels like excess “aggregate demand” or “money chasing goods.” ...
Kevin P. Hoover THE RATIONAL EXPECTATIONS REVOLUTION: AN ASSESSMENT
... classical macroeconomics have contributed a usable alternative to the quantity theory, particularly in a world with national domestic economies open to international trade and international financial I ...
... classical macroeconomics have contributed a usable alternative to the quantity theory, particularly in a world with national domestic economies open to international trade and international financial I ...
The Interdependence of Markets
... A problem of one instrument and two targets Assume that the central bank is worried about excessive growth in the money supply and rising inflation. It thus decides to raise interest rates. One effect of these higher interest rates its to attract foreign capital into the country (causing a capital a ...
... A problem of one instrument and two targets Assume that the central bank is worried about excessive growth in the money supply and rising inflation. It thus decides to raise interest rates. One effect of these higher interest rates its to attract foreign capital into the country (causing a capital a ...
20140416 Budgeting and Macro Policy
... • Short-run deviations of production from potential output are ironed out. Prices adjust so inflation finds its level. Economy grows. ...
... • Short-run deviations of production from potential output are ironed out. Prices adjust so inflation finds its level. Economy grows. ...
Interest Rates and Monetary Policy: Conference Summary
... regime tends to be associated with economic downturns and on average is less persistent than the lowvolatility regime.This prediction is consistent with the well-documented asymmetry in the U.S. business cycles that recoveries tend to last longer than contractions. Another interesting implication of ...
... regime tends to be associated with economic downturns and on average is less persistent than the lowvolatility regime.This prediction is consistent with the well-documented asymmetry in the U.S. business cycles that recoveries tend to last longer than contractions. Another interesting implication of ...
Speech by Tsvetan Manchev, Ph. D., Deputy Governor of the
... As regards the economic criteria for accession, the 2005 Monitoring Report of the European Commission comes to the conclusion that Bulgaria is a functioning market economy and the continuation of the current pace of its reforms should enable us to cope with the competitive pressure and market forces ...
... As regards the economic criteria for accession, the 2005 Monitoring Report of the European Commission comes to the conclusion that Bulgaria is a functioning market economy and the continuation of the current pace of its reforms should enable us to cope with the competitive pressure and market forces ...
FRBSF E L CONOMIC ETTER
... higher aggregate spending on goods and services produced in the U.S. The increase in aggregate demand for the economy’s output through these different channels leads firms to raise production and employment, which in turn increases business spending on capital goods even further by making greater de ...
... higher aggregate spending on goods and services produced in the U.S. The increase in aggregate demand for the economy’s output through these different channels leads firms to raise production and employment, which in turn increases business spending on capital goods even further by making greater de ...
Lecture 2: New Keynesian Model in Continuous Time
... • New Keynesian model = RBC model with sticky prices • References: • Gali (2008): most accessible intro • Woodford (2003): New Keynesian bible • Clarida, Gali and Gertler (1999): most influential article • Gali and Monacelli (2005): small open economy version ...
... • New Keynesian model = RBC model with sticky prices • References: • Gali (2008): most accessible intro • Woodford (2003): New Keynesian bible • Clarida, Gali and Gertler (1999): most influential article • Gali and Monacelli (2005): small open economy version ...
Admission Examination in Economics
... 5. Complete the sentences: The notion of potential GDP relates to the output level, which cannot be increased in the ________-run. In the _________-run, however, the government can use expansionary _______________ and/or monetary policy to _____________ the output level above the potential GDP. Yet, ...
... 5. Complete the sentences: The notion of potential GDP relates to the output level, which cannot be increased in the ________-run. In the _________-run, however, the government can use expansionary _______________ and/or monetary policy to _____________ the output level above the potential GDP. Yet, ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... volume. Instead, it leaves implicit the “we know better” message that other papers make explicit. This tone of self-congratulation at the conference was particularly grating given the timing of the conference in September 2008, when the financial system was crumbling. Perhaps monetary policy had not ...
... volume. Instead, it leaves implicit the “we know better” message that other papers make explicit. This tone of self-congratulation at the conference was particularly grating given the timing of the conference in September 2008, when the financial system was crumbling. Perhaps monetary policy had not ...
ECON366 - KONSTANTINOS KANELLOPOULOS
... investment spending and maybe even net exports until a new equilibrium is reached at the original level of output but at a higher price level and higher interest rates. Thus, real money balances will decline but interest rates will increase. ...
... investment spending and maybe even net exports until a new equilibrium is reached at the original level of output but at a higher price level and higher interest rates. Thus, real money balances will decline but interest rates will increase. ...
How to conduct monetary policy
... availability of bank loans, the wealth of households, and foreign exchange rates. For example, a decrease in real interest rates lowers the cost of borrowing and leads to increases in business investment spending and household purchases of durable goods, such as autos and new homes. In addition, low ...
... availability of bank loans, the wealth of households, and foreign exchange rates. For example, a decrease in real interest rates lowers the cost of borrowing and leads to increases in business investment spending and household purchases of durable goods, such as autos and new homes. In addition, low ...
bank of montreal
... The Bank of Canada summarizes Monetary Policy: “When the Bank changes the Target for the Overnight Rate, this sends a clear signal about the direction in which it wants short-term interest rates to go. These changes usually lead to moves in the prime rate at commercial banks, which serves as a bench ...
... The Bank of Canada summarizes Monetary Policy: “When the Bank changes the Target for the Overnight Rate, this sends a clear signal about the direction in which it wants short-term interest rates to go. These changes usually lead to moves in the prime rate at commercial banks, which serves as a bench ...
inflation - nagleeco-2009
... Australia achieved a sustained reduction in inflation rates after relatively high inflation since the 1970s. In 1992 the RBA began to target inflation are a rate averaging 2-3% in the wake of the Goods and Services Tax where inflation peaked at approximately 6% in June 2001. Conversely, the Global F ...
... Australia achieved a sustained reduction in inflation rates after relatively high inflation since the 1970s. In 1992 the RBA began to target inflation are a rate averaging 2-3% in the wake of the Goods and Services Tax where inflation peaked at approximately 6% in June 2001. Conversely, the Global F ...
Risk of deflation?
... growth and weak money and credit creation, this decline has triggered discussions about the extent to which there is a risk of deflation in the euro area. In this context, it is important to distinguish between the different definitions of the term deflation. Taking a very narrow definition, some ob ...
... growth and weak money and credit creation, this decline has triggered discussions about the extent to which there is a risk of deflation in the euro area. In this context, it is important to distinguish between the different definitions of the term deflation. Taking a very narrow definition, some ob ...
Unit 6 The Phillips Curve
... ● The unemployment rate tends to shift towards its normal rate ○ Natural Rate of Unemployment- 5% ○ The natural unemployment rate is where the economy tends to gravitate towards in the long run. However, the natural rate may not be socially ...
... ● The unemployment rate tends to shift towards its normal rate ○ Natural Rate of Unemployment- 5% ○ The natural unemployment rate is where the economy tends to gravitate towards in the long run. However, the natural rate may not be socially ...
Minutes of the 196th Meeting of the Monetary Policy Committee
... agricultural products and 9.65% in the prices of industrial products. Inflation measured by the Consumer Price Index (IPC), the second most important component of the IGP-DI, changed 10.53% in twelve months through December (6.86% in December 2014). The Civil Construction National Index (INCC), comp ...
... agricultural products and 9.65% in the prices of industrial products. Inflation measured by the Consumer Price Index (IPC), the second most important component of the IGP-DI, changed 10.53% in twelve months through December (6.86% in December 2014). The Civil Construction National Index (INCC), comp ...