This PDF is a selection from an out-of-print volume from... of Economic Research
... Juan J. Dolado is professor of economics at Universidad Carlos ID,Madrid, and program director of labor economics at the Centre for Economic Policy Research, London. Jose M. GonzilezPiramo is professor of public finance at the Universidad Complutense de Madrid. Jose Viiials is head of Monetary and F ...
... Juan J. Dolado is professor of economics at Universidad Carlos ID,Madrid, and program director of labor economics at the Centre for Economic Policy Research, London. Jose M. GonzilezPiramo is professor of public finance at the Universidad Complutense de Madrid. Jose Viiials is head of Monetary and F ...
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... 7) Given the path of natural real GDP growth, economists prefer an economy such as ________, in which the real GDP gaps are ________. A) Stabilia's, minimized B) Stabilia's, maximized C) Volatilia's, minimized D) Volatilia's, maximized Answer: A Question Status: Previous Edition 8) In an economy whe ...
... 7) Given the path of natural real GDP growth, economists prefer an economy such as ________, in which the real GDP gaps are ________. A) Stabilia's, minimized B) Stabilia's, maximized C) Volatilia's, minimized D) Volatilia's, maximized Answer: A Question Status: Previous Edition 8) In an economy whe ...
Monetary Policy Report
... The operational target of monetary policy is low and stable inflation, with annual consumer price inflation of approximately 2.5% over time. Implementation Norges Bank operates a flexible inflation targeting regime, so that weight is given to both variability in inflation and variability in output a ...
... The operational target of monetary policy is low and stable inflation, with annual consumer price inflation of approximately 2.5% over time. Implementation Norges Bank operates a flexible inflation targeting regime, so that weight is given to both variability in inflation and variability in output a ...
What Explains Inflation in China?
... Central to current monetary policy in the major advanced economies is price stability, where an increase in the general price level is termed inflation and a decrease deflation. Inflation and deflation distort price signals, leading to inefficient allocation of resources; they also undermine the cre ...
... Central to current monetary policy in the major advanced economies is price stability, where an increase in the general price level is termed inflation and a decrease deflation. Inflation and deflation distort price signals, leading to inefficient allocation of resources; they also undermine the cre ...
NBER WORKING PAPER SERIES THE CONQUEST OF SOUTH AMERICAN INFLATION Thomas Sargent
... to the higher π1∗ , but the higher fixed point π2∗ is lower and thus it will be easier for beliefs to escape. To make this explanation fit together, Marcet and Nicolini (2003) supplemented the basic model of Marcet and Sargent (1989b) with a story about mechanical reforms that end an escape episode ...
... to the higher π1∗ , but the higher fixed point π2∗ is lower and thus it will be easier for beliefs to escape. To make this explanation fit together, Marcet and Nicolini (2003) supplemented the basic model of Marcet and Sargent (1989b) with a story about mechanical reforms that end an escape episode ...
14 - Weber State University
... A) the government has been a stabilizing force in the economy. B) much of the existing unemployment voluntary. C) the velocity of money is unstable. D) policymakers are able to accurately forecast the future effect of current policy actions. 22) The activists believe that the time required for flexi ...
... A) the government has been a stabilizing force in the economy. B) much of the existing unemployment voluntary. C) the velocity of money is unstable. D) policymakers are able to accurately forecast the future effect of current policy actions. 22) The activists believe that the time required for flexi ...
Some Monetary Facts - Federal Reserve Bank of Minneapolis
... While correlations are not direct evidence of causality, they do lend support to causal hypotheses that yield predictions consistent with the correlations. Consider, for example, the hypothesis that a monetary policy with a higher growth rate of money will result in a higher inflation rate than a po ...
... While correlations are not direct evidence of causality, they do lend support to causal hypotheses that yield predictions consistent with the correlations. Consider, for example, the hypothesis that a monetary policy with a higher growth rate of money will result in a higher inflation rate than a po ...
Inflation, Its Causes and Cures
... level should be kept approximately stable for the long run does not mean that the price level· should never be allowed to decline. The reason is very simple. It will hardly be possible, even apart fromwar and periods of acute international tension requiring large defense expenditure, to avoid period ...
... level should be kept approximately stable for the long run does not mean that the price level· should never be allowed to decline. The reason is very simple. It will hardly be possible, even apart fromwar and periods of acute international tension requiring large defense expenditure, to avoid period ...
Monetary Policy with Interest on Reserves
... answers: optimal quantity of money, and financial stability. Optimal quantity of money Milton Friedman (1969) described the “optimal quantity of money:” a slow deflation with zero nominal rates and deflation generating the a positive real rate of interest. In this environment, money and bonds pay th ...
... answers: optimal quantity of money, and financial stability. Optimal quantity of money Milton Friedman (1969) described the “optimal quantity of money:” a slow deflation with zero nominal rates and deflation generating the a positive real rate of interest. In this environment, money and bonds pay th ...
Interest Rate Rules and Equilibrium Stability
... the observed effects of demand shocks. For instance, deep habits with their implied counter-cyclical movements of markups have been shown to successfully explain the rise in wages and consumption in response to a government spending shock, an empirical observation that most standard model fail to pr ...
... the observed effects of demand shocks. For instance, deep habits with their implied counter-cyclical movements of markups have been shown to successfully explain the rise in wages and consumption in response to a government spending shock, an empirical observation that most standard model fail to pr ...
Does the Yield Curve Signal Recession?
... funds rate.” That is, when the real federal funds rate—the target rate set by the FOMC, adjusted for inflation—is high relative to its long-run level, the chance of a recession increases. While Greenspan does not cite the statistical analysis he refers to, there is some evidence that movements in s ...
... funds rate.” That is, when the real federal funds rate—the target rate set by the FOMC, adjusted for inflation—is high relative to its long-run level, the chance of a recession increases. While Greenspan does not cite the statistical analysis he refers to, there is some evidence that movements in s ...
A small model of the UK economy - Office for Budget Responsibility
... suitability of which depends upon its intended use. The sorts of models produced by academic macroeconomists typically adhere strictly to the prescriptions of their microeconomic foundations. That is to say that, whether it’s a model with three equations or twenty, the laws of motion of the economy ...
... suitability of which depends upon its intended use. The sorts of models produced by academic macroeconomists typically adhere strictly to the prescriptions of their microeconomic foundations. That is to say that, whether it’s a model with three equations or twenty, the laws of motion of the economy ...
The monetary policy decision-making process
... but we report our current views of the future every time we publish a monetary policy decision. The Riksbank is governed by an Executive Board The year 1999 is a natural starting point when describing the process for monetary policy decision-making. This was when the price stability target was presc ...
... but we report our current views of the future every time we publish a monetary policy decision. The Riksbank is governed by an Executive Board The year 1999 is a natural starting point when describing the process for monetary policy decision-making. This was when the price stability target was presc ...
aggregate supply (AS) curve
... Sustained Inflation as a Purely Monetary Phenomenon Virtually all economists agree that an increase in the price level can be caused by anything that causes the AD curve to shift to the right or the AS curve to shift to the left. It is also generally agreed that for a sustained inflation to occur, t ...
... Sustained Inflation as a Purely Monetary Phenomenon Virtually all economists agree that an increase in the price level can be caused by anything that causes the AD curve to shift to the right or the AS curve to shift to the left. It is also generally agreed that for a sustained inflation to occur, t ...
Monetary Policy Statement March 2009 Contents
... interest rates, the lower New Zealand dollar, and significant ...
... interest rates, the lower New Zealand dollar, and significant ...
Document
... accumulation and future living standards Raising taxes reduces incentives to work and save Focusing on the deficit diverts attention from other programs that redistribute income across generations, such as Social Security. Debt/income ratio more relevant than debt itself. © 2015 Cengage Learni ...
... accumulation and future living standards Raising taxes reduces incentives to work and save Focusing on the deficit diverts attention from other programs that redistribute income across generations, such as Social Security. Debt/income ratio more relevant than debt itself. © 2015 Cengage Learni ...
Chapter 23
... accumulation and future living standards Raising taxes reduces incentives to work and save Focusing on the deficit diverts attention from other programs that redistribute income across generations, such as Social Security. Debt/income ratio more relevant than debt itself. © 2015 Cengage Learni ...
... accumulation and future living standards Raising taxes reduces incentives to work and save Focusing on the deficit diverts attention from other programs that redistribute income across generations, such as Social Security. Debt/income ratio more relevant than debt itself. © 2015 Cengage Learni ...
Economic Fluctuations, Unemployment, and Inflation (15th ed.)
... Copyright ©2015 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 ©2015 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. ...
Monetary Policy in Deflation: The Liquidity Trap in History and Practice
... of the “ineffectiveness” of monetary policy to inflate the economy from a slump provided a convenient alternative explanation of events that also afforded a much less negative view of the role of monetary policy during that episode. With inflation becoming the norm in the industrialized world follo ...
... of the “ineffectiveness” of monetary policy to inflate the economy from a slump provided a convenient alternative explanation of events that also afforded a much less negative view of the role of monetary policy during that episode. With inflation becoming the norm in the industrialized world follo ...
chapter overview
... 1. The Phillips Curve controversy can be introduced by using actual data such as that shown in Figure 16-7b. Ask students if they can see any discernible pattern between unemployment and inflation data without viewing the curves. 2. The aggregate supply and demand model can also be helpful in explai ...
... 1. The Phillips Curve controversy can be introduced by using actual data such as that shown in Figure 16-7b. Ask students if they can see any discernible pattern between unemployment and inflation data without viewing the curves. 2. The aggregate supply and demand model can also be helpful in explai ...
Investigating the Link between Population Aging and Deflation
... results in the tails of the distribution. Indeed, the 65 and up age group could form quite a large tail and there may be differences in results within subgroups within that tail group. We conducted several further investigations using panel regressions. In the first, we investigated two distinct sub ...
... results in the tails of the distribution. Indeed, the 65 and up age group could form quite a large tail and there may be differences in results within subgroups within that tail group. We conducted several further investigations using panel regressions. In the first, we investigated two distinct sub ...
NBER WORKING PAPER SERIES OPTIMAL SIMPLE AND IMPLEMENTABLE MONETARY AND FISCAL RULES
... Specifically, this paper characterizes monetary and fiscal policy rules that are optimal within a family of implementable, simple rules in a calibrated model of the business cycle. In the model economy, business cycles are driven by stochastic variations in the level of total factor productivity and ...
... Specifically, this paper characterizes monetary and fiscal policy rules that are optimal within a family of implementable, simple rules in a calibrated model of the business cycle. In the model economy, business cycles are driven by stochastic variations in the level of total factor productivity and ...