View/Open
... aggregate production function. Another measure is calculated by the Congressional Budget Office (CBO, 1995) using a large-scale multi-sector growth model. There also are efforts in merging statistical and economic approaches to estimate the output gap. For example, Kuttner (1994) uses a bivariate mo ...
... aggregate production function. Another measure is calculated by the Congressional Budget Office (CBO, 1995) using a large-scale multi-sector growth model. There also are efforts in merging statistical and economic approaches to estimate the output gap. For example, Kuttner (1994) uses a bivariate mo ...
grade 12 economics teacher notes
... (d) Hyperinflation- a very high rate of inflation when the levels are rising so rapidly that people are losing confidence in the value of money. (e) Stagflation -refers to a condition of stagnation of economic growth (low growth and unemployment) and high rates of inflation. (f) Deflation- wh ...
... (d) Hyperinflation- a very high rate of inflation when the levels are rising so rapidly that people are losing confidence in the value of money. (e) Stagflation -refers to a condition of stagnation of economic growth (low growth and unemployment) and high rates of inflation. (f) Deflation- wh ...
Inflation During and After the Zero Lower Bound
... In Section IV we confront our quantitative model with data from the three economies. Looking at inflation rates, inflation expectations, and interest rates, the Japanese ZLB experience seems more consistent with the deflation regime while U.S. data appear to be consistent with the targeted-inflation ...
... In Section IV we confront our quantitative model with data from the three economies. Looking at inflation rates, inflation expectations, and interest rates, the Japanese ZLB experience seems more consistent with the deflation regime while U.S. data appear to be consistent with the targeted-inflation ...
Quantity Theory of Money Redux? Will Inflation Be the Legacy of
... concerns about inflation in terms of the classic quantity theory of money, which holds that inflation occurs when the money supply expands more rapidly than warranted by increases in real production. The Brief first reviews the US experience and shows that whereas rapid money growth might have been ...
... concerns about inflation in terms of the classic quantity theory of money, which holds that inflation occurs when the money supply expands more rapidly than warranted by increases in real production. The Brief first reviews the US experience and shows that whereas rapid money growth might have been ...
Making sense of international interest rate movements ARTICLES
... but the Reserve Bank of New Zealand uses them to help make sense of what is going on in international bond markets which in turn directly affect longer-term interest rates in New Zealand. ...
... but the Reserve Bank of New Zealand uses them to help make sense of what is going on in international bond markets which in turn directly affect longer-term interest rates in New Zealand. ...
Lecture 11.2
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. ...
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. ...
Will the U.S. Economy Face Deflation?
... breadlines and "people in jail who were there for stealing food for their families." The Depression, he said in a speech in March, "was a very real thing to the people who created the Federal Reserve's mandate and they never wanted it to happen again." **Demonstrate deflation cause by productivity ...
... breadlines and "people in jail who were there for stealing food for their families." The Depression, he said in a speech in March, "was a very real thing to the people who created the Federal Reserve's mandate and they never wanted it to happen again." **Demonstrate deflation cause by productivity ...
Schroders The effect of unstable correlations on portfolio diversification
... What does the analysis lead to overall? Conditional correlation matrices are different, and in some instances very importantly so, relative to the long run average correlation matrix. The impact of equity volatility will continue to dominate a fixed SAA growth portfolio. This is evident in the condi ...
... What does the analysis lead to overall? Conditional correlation matrices are different, and in some instances very importantly so, relative to the long run average correlation matrix. The impact of equity volatility will continue to dominate a fixed SAA growth portfolio. This is evident in the condi ...
NBER WORKING PAPER SERIES USING MONETARY CONTROL 10 DAMPEN THE
... in spirit to activism than a monetarist CCMR, much of the paper is concerned with both old and new objections to activist policy intervention. ...
... in spirit to activism than a monetarist CCMR, much of the paper is concerned with both old and new objections to activist policy intervention. ...
Chapter 11 Introduction Learning Objectives
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. Cop ...
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. Cop ...
On the Causes of the Increased Stability of the U.S. Economy
... stability would have to explain why policy affected the volatility of production so much more than final sales, and why the phenomenon of increased stability has been concentrated in the durable goods sector. In other words, policy (or good luck) would have to explain why the impact was felt primari ...
... stability would have to explain why policy affected the volatility of production so much more than final sales, and why the phenomenon of increased stability has been concentrated in the durable goods sector. In other words, policy (or good luck) would have to explain why the impact was felt primari ...
Evolving post-World War II UK economic
... United States. In particular, to the best of our knowledge, no study has systematically investigated changes in the extent of stability of the UK economy over the post-WWII period. (3) In a sense, this is most surprising. First, the United Kingdom has undergone, over the post-WWII era, significant c ...
... United States. In particular, to the best of our knowledge, no study has systematically investigated changes in the extent of stability of the UK economy over the post-WWII period. (3) In a sense, this is most surprising. First, the United Kingdom has undergone, over the post-WWII era, significant c ...
Macro-economics of balance-sheet problems and the
... loans require collateral, and higher prices may decrease turnover, etc. The main advantage of micro-founded macro-models is that they are internally consistent and able to handle expectations. This makes them resilient – if they describe economic behaviour correctly – to the Lucas critique (Lucas, 1 ...
... loans require collateral, and higher prices may decrease turnover, etc. The main advantage of micro-founded macro-models is that they are internally consistent and able to handle expectations. This makes them resilient – if they describe economic behaviour correctly – to the Lucas critique (Lucas, 1 ...
11 Research Department Working Paper ... The Central Bank of the Republic of Turkey CALCULATION OF OUTPUT-INFLATION
... The tradeoff central banks face between output and inflation was a popular area of research for years. Since the introduction of the Philips curve in 1950s many economists were investigated if the tradeoff really exists or not. The labor market conditions, wage and price adjustments in the markets, ...
... The tradeoff central banks face between output and inflation was a popular area of research for years. Since the introduction of the Philips curve in 1950s many economists were investigated if the tradeoff really exists or not. The labor market conditions, wage and price adjustments in the markets, ...
Mohan Bijapur Are credit crunches supply or demand shocks?
... rationing can also affect aggregate supply by restricting the availability of working capital for firms (who need to borrow as they must pay their factors of production before receiving revenues from sales), and also reducing future production by constraining investment spending and thus reducing t ...
... rationing can also affect aggregate supply by restricting the availability of working capital for firms (who need to borrow as they must pay their factors of production before receiving revenues from sales), and also reducing future production by constraining investment spending and thus reducing t ...
CHAPTER OVERVIEW
... Why is the aggregate demand curve downsloping? Specify how your explanation differs from the explanation for the downsloping demand curve for a single product. What role does the multiplier play in shifts of the aggregate demand curve? The aggregate demand (AD) curve shows that as the price level dr ...
... Why is the aggregate demand curve downsloping? Specify how your explanation differs from the explanation for the downsloping demand curve for a single product. What role does the multiplier play in shifts of the aggregate demand curve? The aggregate demand (AD) curve shows that as the price level dr ...
Money, Interest and Income
... Money market equilibrium implies that an increase in the interest rate is accompanied by an increase in the level of income. ...
... Money market equilibrium implies that an increase in the interest rate is accompanied by an increase in the level of income. ...
Inflation
... of 7% on a loan. The expected inflation rate is 5%. This means the bank expects to make a real profit of 2% (7% - 5%). • Suppose there is unexpected inflation, adding another 1% to inflation (6% total). The bank will now make a profit of just 1%. Inflation hurt the bank! • Borrowers, in this case, e ...
... of 7% on a loan. The expected inflation rate is 5%. This means the bank expects to make a real profit of 2% (7% - 5%). • Suppose there is unexpected inflation, adding another 1% to inflation (6% total). The bank will now make a profit of just 1%. Inflation hurt the bank! • Borrowers, in this case, e ...
Real Fluctuations at the Zero Lower Bound
... I show that a moderate amount of history-dependence in the central bank’s policy rule can dramatically alter the effects of real shocks at the zero lower bound. To analyze the quantitiatve impact of history-dependence, I calibrate and solve a general-equilibrium model with nominal price rigidity and ...
... I show that a moderate amount of history-dependence in the central bank’s policy rule can dramatically alter the effects of real shocks at the zero lower bound. To analyze the quantitiatve impact of history-dependence, I calibrate and solve a general-equilibrium model with nominal price rigidity and ...
... external demand, this did not spill over to more rapid growth in either domestic demand or real GDP as a whole. Almost all of the extra nominal GDP growth enjoyed by the leavers was chewed up by extra inflation, not just in import prices but in both the CPI and GDP deflator. Nominal unit labor costs ...