2. The Sacrifice Ratio - Hal-SHS
... monetary policy shift and for neglecting the impact of supply shocks and other demand shocks (such as money demand shocks or fiscal shocks) on the behaviour of inflation and output during these disinflation episodes. The sacrifice ratio estimates could thus be biased, i.e. they could constitute a no ...
... monetary policy shift and for neglecting the impact of supply shocks and other demand shocks (such as money demand shocks or fiscal shocks) on the behaviour of inflation and output during these disinflation episodes. The sacrifice ratio estimates could thus be biased, i.e. they could constitute a no ...
T.Y.B.A. Economics Paper - IV
... constructing even a limited theory of oligopoly. However, this model may be criticised on the following grounds. Criticism: 1. The firm's behaviour is naive in so far as they do not learn from past experience. Without fail, each supposes that the rival will not react in response to any action he may ...
... constructing even a limited theory of oligopoly. However, this model may be criticised on the following grounds. Criticism: 1. The firm's behaviour is naive in so far as they do not learn from past experience. Without fail, each supposes that the rival will not react in response to any action he may ...
Mods 17-18-19 Practice
... C. the aggregate quantity of output demanded by households, businesses, the government, and the rest of the world. D. the aggregate quantity of output demanded by businesses only. E. the aggregate quantity of goods and services consumed by households. ...
... C. the aggregate quantity of output demanded by households, businesses, the government, and the rest of the world. D. the aggregate quantity of output demanded by businesses only. E. the aggregate quantity of goods and services consumed by households. ...
The US Model Workbook
... explained output and inflation in the 1970s. Given the actual values of the exogenous variables over this period, the model can be solved for the endogenous variables. The solution values of the endogenous variables are the predicted values. If the predicted values of output and inflation are close ...
... explained output and inflation in the 1970s. Given the actual values of the exogenous variables over this period, the model can be solved for the endogenous variables. The solution values of the endogenous variables are the predicted values. If the predicted values of output and inflation are close ...
Does the United States Have a Productivity Slowdown or a
... of the two measures are within a few basis points. In other words, shifts in the industry composition of the economy play essentially no role in the productivity speedup in the mid-1990s or slowdown in the 2000s. Why are the two series so similar? The value added share of services and other relative ...
... of the two measures are within a few basis points. In other words, shifts in the industry composition of the economy play essentially no role in the productivity speedup in the mid-1990s or slowdown in the 2000s. Why are the two series so similar? The value added share of services and other relative ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... highly simplified economy into a single input-output table. The industry M, S, and T columns list the sales of goods and services (plus signs are associated with sales) and the purchases of intermediate inputs (minus signs are associated with purchases) for each of the three inputs. The final demand ...
... highly simplified economy into a single input-output table. The industry M, S, and T columns list the sales of goods and services (plus signs are associated with sales) and the purchases of intermediate inputs (minus signs are associated with purchases) for each of the three inputs. The final demand ...
Chapter 15
... Demand-pull inflation is inflation that results from an initial increase in aggregate demand. This can result from an: • Increase in the money supply • Increase in government purchases • Increase in exports Copyright © 2000 Addison Wesley Longman, Inc. ...
... Demand-pull inflation is inflation that results from an initial increase in aggregate demand. This can result from an: • Increase in the money supply • Increase in government purchases • Increase in exports Copyright © 2000 Addison Wesley Longman, Inc. ...
SMS211 - National Open University of Nigeria
... stating over what time period this amount of income was earned. It must be stated as N800 billion for the year 2010, for example. The distinction between stock and flow variables can be further clarified by the following: investment spending is a flow variable and capital stock is a stock variable, ...
... stating over what time period this amount of income was earned. It must be stated as N800 billion for the year 2010, for example. The distinction between stock and flow variables can be further clarified by the following: investment spending is a flow variable and capital stock is a stock variable, ...
Download paper (PDF)
... monetary policy on the economy has changed in important ways. One possible interpretation is that monetary policy has lost some of its influence on the economy. Indeed, various innovations in firms’ and consumers’ behavior, perhaps induced by technological progress or financial innovations, might ha ...
... monetary policy on the economy has changed in important ways. One possible interpretation is that monetary policy has lost some of its influence on the economy. Indeed, various innovations in firms’ and consumers’ behavior, perhaps induced by technological progress or financial innovations, might ha ...
Three Sides of Harberger Triangles
... complished engineer, but was unaware of Dupuit’s work of the 1840s. Jenkin was stimulated by the work of Stanley Jevons, a professor at the University of Manchester in England, who, in his classic The Theory of Political Economy (1871), discusses the effect of price changes on utility. Jevons, who w ...
... complished engineer, but was unaware of Dupuit’s work of the 1840s. Jenkin was stimulated by the work of Stanley Jevons, a professor at the University of Manchester in England, who, in his classic The Theory of Political Economy (1871), discusses the effect of price changes on utility. Jevons, who w ...
Nominal GDP Targeting and the Taylor Rule on
... implement a target for nominal GDP outside the interest rate reaction function approach common in the New Keynesian literature. Our paper adds to this literature by comparing and contrasting the Taylor rule with nominal GDP targeting, with a particular emphasis on the role of imperfect knowledge in ...
... implement a target for nominal GDP outside the interest rate reaction function approach common in the New Keynesian literature. Our paper adds to this literature by comparing and contrasting the Taylor rule with nominal GDP targeting, with a particular emphasis on the role of imperfect knowledge in ...
The Interaction between Household and Firm Dynamics and the
... We solve for the steady state of the model using a benchmark calibration designed to match several moments of the US economy, and analyze the transition dynamics of key aggregate variables following unexpected aggregate …nancial shocks. Even though the model is relatively stylized and we focus more ...
... We solve for the steady state of the model using a benchmark calibration designed to match several moments of the US economy, and analyze the transition dynamics of key aggregate variables following unexpected aggregate …nancial shocks. Even though the model is relatively stylized and we focus more ...
The Close Connection Between Nominal
... any pT choice that depends only on currently available information. The speci…c implementation of nominal-GDP targeting analyzed in this paper is mathematically equivalent to setting nT = (p+Ey ) + T , where E(yT y )=T + . In words: To obtain future target nominal GDP, extrapolate current nominal po ...
... any pT choice that depends only on currently available information. The speci…c implementation of nominal-GDP targeting analyzed in this paper is mathematically equivalent to setting nT = (p+Ey ) + T , where E(yT y )=T + . In words: To obtain future target nominal GDP, extrapolate current nominal po ...
Factors that shift the Aggregate Demand Curve
... A Change in Aggregate Demand: Shifts in the Aggregate Demand Curve A Change in aggregate demand is the change in the quantity demanded of real GDP as the change in the following factors: Consumption, investment, government spending, and net exports. These factors will affect the quantity demanded o ...
... A Change in Aggregate Demand: Shifts in the Aggregate Demand Curve A Change in aggregate demand is the change in the quantity demanded of real GDP as the change in the following factors: Consumption, investment, government spending, and net exports. These factors will affect the quantity demanded o ...
Chapter # 3
... would move from B to C to A. A less harsh point for the CB is to choose point F. the fall in inflation and the rise in unemp will be less than if C is chosen. As the CB is willing to sacrifice a rise in unemp to get a given reduction in inflation we will move along the PC from B to C. inflation av ...
... would move from B to C to A. A less harsh point for the CB is to choose point F. the fall in inflation and the rise in unemp will be less than if C is chosen. As the CB is willing to sacrifice a rise in unemp to get a given reduction in inflation we will move along the PC from B to C. inflation av ...
Article - The relationship between resource utilisation and inflation
... resource utilisation cannot be observed directly and there is no general agreement with regard to the best way of measuring it. The fact that there is a link between two variables does not necessarily mean that there is a causal relationship between the variables. Inflation can fluctuate as a r ...
... resource utilisation cannot be observed directly and there is no general agreement with regard to the best way of measuring it. The fact that there is a link between two variables does not necessarily mean that there is a causal relationship between the variables. Inflation can fluctuate as a r ...
A Critique of Monetarist and Austrian Doctrines on the Utility and
... Neglect of these doctrines has left economics less rich than it otherwise would be, and the doctrines themselves have had less impact on current theory and policy than they would have had if they had focused their attention on points of agreement and come to terms with their differences. This articl ...
... Neglect of these doctrines has left economics less rich than it otherwise would be, and the doctrines themselves have had less impact on current theory and policy than they would have had if they had focused their attention on points of agreement and come to terms with their differences. This articl ...