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ECONOMICS
ECONOMICS

... revenue is higher, but labor cost is not. Production is more profitable, so firms increase output and employment. ...
NBER WORKING PAPER SERIES CHOOSING THE FEDERAL RESERVE CHAIR: LESSONS FROM HISTORY
NBER WORKING PAPER SERIES CHOOSING THE FEDERAL RESERVE CHAIR: LESSONS FROM HISTORY

... Monetary policy actions in this period reflected policymakers’ beliefs. The most significant action was a doubling of reserve requirements from August 1936 to May 1937. The Board took this step because it feared that existing excess reserves could “create an injurious credit expansion” (Report, 1936 ...
10104002
10104002

... attempt to achieve through manipulation of fiscal and monetary policies. Fiscal policy relates to taxes and expenditures, monetary policy to financial markets and the supply of credit, money, and other financial assets. There are many economic indicators, and even more private reports that can be us ...
Globalization and Inflation Dynamics
Globalization and Inflation Dynamics

... declined, and how lower import prices both of final and intermediate goods might have contributed to maintain overall inflation at low levels. Similarly, President Yellen (2006) and Governor Kohn (2006) have discussed several direct and indirect impacts of more global markets on US inflation. In thi ...
Unemployed
Unemployed

... How Long Are People Typically Unemployed? Long periods of unemployment are bad for workers, as their skills decay and they risk becoming discouraged and depressed. • During the Great Depression of the 1930s, some people were unemployed for years at a time. ...
Aggregate Demand and Aggregate Supply
Aggregate Demand and Aggregate Supply

NBER WORKING PAPER SERIES GLOBALIZATION AND INFLATION DYNAMICS: Argia M. Sbordone
NBER WORKING PAPER SERIES GLOBALIZATION AND INFLATION DYNAMICS: Argia M. Sbordone

... declined, and how lower import prices both of final and intermediate goods might have contributed to maintain overall inflation at low levels. Similarly, President Yellen (2006) and Governor Kohn (2006) have discussed several direct and indirect impacts of more global markets on US inflation. In thi ...
Macro Syllabusx - IDLA – Blackboard Learn
Macro Syllabusx - IDLA – Blackboard Learn

... *Explain the business cycle's relationship with employment, inflation, and economic output. *Explain what a circular flow diagram models. Be able to draw a circular flow model and explain the components that make it up. *Explain what GDP measures and how it is calculated. *Explain the difference bet ...
Preview - American Economic Association
Preview - American Economic Association

... draw demand and supply curves as graphical representations of the functional relationships understood to exist between quantities demanded and supplied and price. The diagram will normally be accompanied by explanation of how, when demand and supply are not equal, prices and quantities will alter as ...
Chapter 2: Review of Literature
Chapter 2: Review of Literature

... proportional increase in the price level. We have again reached the classical formula: every increase in spending or wages will translate into an equivalent change in the price level. Even amongst the monetarists there is no clear consensus about how long this corrective period lasts. For monetarist ...
NBER WORKING PAPER SERIES INFLATION REPORTS Eric M. Leeper
NBER WORKING PAPER SERIES INFLATION REPORTS Eric M. Leeper

... description than an economic one. Then the staff can explain how their judgments shift the forecast away from the benchmark. Indeed, this explanation would be a central theme of the staff’s briefings of the Executive Board. It would be interesting also to produce forecasts from the benchmark model ...
Choosing the Federal Reserve Chair: Lessons from History
Choosing the Federal Reserve Chair: Lessons from History

CHAPTER 3 THE LOANABLE FUNDS MODEL
CHAPTER 3 THE LOANABLE FUNDS MODEL

... budget deficit or Federal Reserve Policy (the graph is drawn in such a way as to show a relatively neutral effect - it could have been drawn to slow slightly higher rates or slightly lower rates). This combined effect illustrates a point made earlier - either of these two effects considered in isola ...
Macroeconomic Shocks and Monetary Policy
Macroeconomic Shocks and Monetary Policy

... the time constraint, the empirical study will be limited to the cases of Sweden and the United Kingdom. These countries are interesting to study for several reasons. First, according to a finding in Fromlet’s (2010) study, the variance of inflation around the target value is the lowest for countries ...
The Aggregate
The Aggregate

AP Macroeconomics Syllabus/Schedule Course Description AP
AP Macroeconomics Syllabus/Schedule Course Description AP

... *Explain the relationship between marginal propensity to consume and the multiplier. *Explain the role of the consumption function and the factors that can increase or decrease a person's ability to spend their disposable income. *Explain the factors that can increase or decrease investment for a fi ...
aggregate demand curve
aggregate demand curve

Chapter 5 PPT
Chapter 5 PPT

...  Initial equilibrium is at E where AD and AS intersect (goods and money market equilibrium)  Assume an increase in AD, which shifts AD to ...
M07_ABEL4987_7E_IM_C07
M07_ABEL4987_7E_IM_C07

... 1. When individuals decide what kinds of assets to invest in with their wealth, most look first at assets in their home countries because of their knowledge of these markets. 2. Increasingly, however, people also look overseas for investment opportunities. These investments can include buying foreig ...
2. International Economic Developments
2. International Economic Developments

... The fact that Turkey's export destinations recover at a slower pace will continue to have a dampening effect on external demand in coming months. Graph 2.1.1. Aggregated Growth Rates ...
NBER WORKING PAPER SERIES PRIVATE PENSIONS INFLATION Martin Feldstein
NBER WORKING PAPER SERIES PRIVATE PENSIONS INFLATION Martin Feldstein

... continue to function effectively in an inflationary econornlf.l ...
Can Government Really Stabilize the Economy?
Can Government Really Stabilize the Economy?

Optimal Monetary Policy in a Currency Area
Optimal Monetary Policy in a Currency Area

... Their simulations show that for industrial economies this assumption may not be so inaccurate. Money matters because agents derive utility from its liquidity services. If real money balances and consumption are separable in utility and prices are flexible, money is neutral. In order to give a role t ...
The 3-Equation New Keynesian Model — a Graphical
The 3-Equation New Keynesian Model — a Graphical

... to the problem faced by the central bank in minimizing the costs of achieving its objectives given the constraints it faces from the private sector. To derive the monetary rule graphically, we need to consider how the central bank behaves. In Fig.2, we assume that the economy is initially at point B ...
Document
Document

... The costs of holding real money balances are: • The foregone interest that the nonmonetary balances of households and firms would have earned Decision Rule: • Hold real money balances as long as the benefits are greater than the costs ...
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Stagflation

In economics, stagflation, a portmanteau of stagnation and inflation, is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It raises a dilemma for economic policy, since actions designed to lower inflation may exacerbate unemployment, and vice versa.The term is generally attributed to a British Conservative Party politician who became chancellor of the exchequer in 1970, Iain Macleod, who coined the phrase in his speech to Parliament in 1965. Keynes did not use the term, but some of his work refers to the conditions that most would recognise as stagflation. In the version of Keynesian macroeconomic theory that was dominant between the end of World War II and the late 1970s, inflation and recession were regarded as mutually exclusive, the relationship between the two being described by the Phillips curve. Stagflation is very costly and difficult to eradicate once it starts, both in social terms and in budget deficits.One economic indicator, the misery index, is derived by the simple addition of the inflation rate to the unemployment rate.
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