NBER WORKING PAPER SERIES DO FLEXIBLE DURABLE GOODS PRICES Robert Barsky
... powerful forces that cause demand for durables to rise sharply following a monetary expansion, more than offsetting any contractionary effects of increased factor prices. The mechanism that leads to the contrarian behavior of the durables sector in our scenario is a manifestation of a more general c ...
... powerful forces that cause demand for durables to rise sharply following a monetary expansion, more than offsetting any contractionary effects of increased factor prices. The mechanism that leads to the contrarian behavior of the durables sector in our scenario is a manifestation of a more general c ...
July 1980
... on a rough draft. Except for a few minor changes of wording this version replicates the paper read at the conference. I am grateful to Peter Neary and Pentti Kouri for their illuminating discussion. The research reported here is part of the NBER's research program in International Studies. Any opini ...
... on a rough draft. Except for a few minor changes of wording this version replicates the paper read at the conference. I am grateful to Peter Neary and Pentti Kouri for their illuminating discussion. The research reported here is part of the NBER's research program in International Studies. Any opini ...
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... on Germany, also provides an equally detailed description of the REA’s economy. In particular, unlike most existing frameworks assuming a homogeneous labor market, we account for heterogeneities among households with respect to their labor productivity. This facilitates the analysis of supply shift ...
... on Germany, also provides an equally detailed description of the REA’s economy. In particular, unlike most existing frameworks assuming a homogeneous labor market, we account for heterogeneities among households with respect to their labor productivity. This facilitates the analysis of supply shift ...
Memo 2 - Department of Basic Education
... evaluate/Draw a graph and explain/Use the graph given and explain/ Complete the given graph/Calculate/Deduce/Compare/Explain/ Distinguish/Interpret/Briefly debate/How?/Suggest ...
... evaluate/Draw a graph and explain/Use the graph given and explain/ Complete the given graph/Calculate/Deduce/Compare/Explain/ Distinguish/Interpret/Briefly debate/How?/Suggest ...
BHARAT SCHOOL OF BANKING INFLATION
... Suppose, you lived in "peace" (in context of your spending) in the year 2010, when you bought vegetables or fruits (or any other commodity) in much less price (than present). But at present i.e. in 2015, the prices of the same things have gone up which means you have to spend much more, than you use ...
... Suppose, you lived in "peace" (in context of your spending) in the year 2010, when you bought vegetables or fruits (or any other commodity) in much less price (than present). But at present i.e. in 2015, the prices of the same things have gone up which means you have to spend much more, than you use ...
Interest Rate
... The bank lends $900 out to Bob (excess reserves) Bob deposits the $900 in his bank Bob’s bank must hold $90. It loans out $810 to Jill Jill deposits $810 in her bank ...
... The bank lends $900 out to Bob (excess reserves) Bob deposits the $900 in his bank Bob’s bank must hold $90. It loans out $810 to Jill Jill deposits $810 in her bank ...
PDF
... In this paper we propose an empirical model to jointly estimate the impact of price changes, factor endowment changes and technological change on the relative decline of the agricultural share of GDP in Taiwan. We use an aggregate restricted GDP function based on the theoretical models discussed by ...
... In this paper we propose an empirical model to jointly estimate the impact of price changes, factor endowment changes and technological change on the relative decline of the agricultural share of GDP in Taiwan. We use an aggregate restricted GDP function based on the theoretical models discussed by ...
E P conomic ErsPEctivE
... about 0.4 (a typical income elasticity for gasoline) then we would expect consumers to purchase about 1.4 percent more gasoline if prices did not change.1 If prices and incomes were the only two factors affecting demand over a one-year period, we would expect gasoline consumption by households to be ...
... about 0.4 (a typical income elasticity for gasoline) then we would expect consumers to purchase about 1.4 percent more gasoline if prices did not change.1 If prices and incomes were the only two factors affecting demand over a one-year period, we would expect gasoline consumption by households to be ...
Opportunity cost, comparative advantage, absolute advantage An
... If a factor of production is fixed, its cost does not vary with production (it is a fixed cost). If a factor of production is variable, its cost varies with production (it is a variable cost). A sunk cost is a cost that cannot be recovered once paid. The short run is the period of time in which at l ...
... If a factor of production is fixed, its cost does not vary with production (it is a fixed cost). If a factor of production is variable, its cost varies with production (it is a variable cost). A sunk cost is a cost that cannot be recovered once paid. The short run is the period of time in which at l ...
Speech to the Arizona Council on Economic Education Scottsdale, Arizona
... continue for a while longer, I think the concerns we used to hear about the possibility of a devastating collapse—one that might be big enough to cause a recession in the U.S. economy—have been largely allayed. As I mentioned, long-term rates have remained low, and that has helped to cushion the dow ...
... continue for a while longer, I think the concerns we used to hear about the possibility of a devastating collapse—one that might be big enough to cause a recession in the U.S. economy—have been largely allayed. As I mentioned, long-term rates have remained low, and that has helped to cushion the dow ...
Trade Policy
... If a tariff increases export prices more than import prices, terms of trade may improve May be valid only for large countries ...
... If a tariff increases export prices more than import prices, terms of trade may improve May be valid only for large countries ...
An Input-Output Sticky-price Model
... posit that wages or prices are set by multiperiod contracts or commitments. In each period, the contracts governing some fraction of wages or prices expire and must be renewed. The central result of the models is that multiperiod contracts lead to gradual adjustment of the price level to nominal dis ...
... posit that wages or prices are set by multiperiod contracts or commitments. In each period, the contracts governing some fraction of wages or prices expire and must be renewed. The central result of the models is that multiperiod contracts lead to gradual adjustment of the price level to nominal dis ...
Case Study: Buying and Selling Shares of Alanna
... sellers must pay their brokers a small commission for completing the transaction as ordered. In graph A, continuous curves have been drawn through the points of the demand and supply schedules. The point of intersection E1 confirms that 45,000 shares will be transacted at a price of $22.50 per share ...
... sellers must pay their brokers a small commission for completing the transaction as ordered. In graph A, continuous curves have been drawn through the points of the demand and supply schedules. The point of intersection E1 confirms that 45,000 shares will be transacted at a price of $22.50 per share ...
FRBSF E L CONOMIC ETTER
... than with the real yield, particularly since the mid1960s.This result is a puzzle from the perspective of efficient valuation theory. Observed movements in the nominal yield can be largely attributed to changes in expected inflation which, in turn, have been driven by changes in actual inflation. If ...
... than with the real yield, particularly since the mid1960s.This result is a puzzle from the perspective of efficient valuation theory. Observed movements in the nominal yield can be largely attributed to changes in expected inflation which, in turn, have been driven by changes in actual inflation. If ...
Please ensure you hand up your Answer Booklet + MCQ Answer
... The answers for section A must be entered into the MCQ Answer Sheet handed out with this examination paper. Please ensure your name, student number, lecturers name and class group are written clearly on this sheet, and submit it in the centre of your answer booklet. Any solutions provided on the exa ...
... The answers for section A must be entered into the MCQ Answer Sheet handed out with this examination paper. Please ensure your name, student number, lecturers name and class group are written clearly on this sheet, and submit it in the centre of your answer booklet. Any solutions provided on the exa ...
The impact of inflation on family money income Manrique, Luis.
... Intlation increased, reaching an arumal rate of 13.5% and marking the beginning of the inflationary process (Figure 3). Inflation in Venezuela has been influenced by a price control system and high subsidies established by the government. ...
... Intlation increased, reaching an arumal rate of 13.5% and marking the beginning of the inflationary process (Figure 3). Inflation in Venezuela has been influenced by a price control system and high subsidies established by the government. ...
Y - The University of Chicago Booth School of Business
... • Some Macro Economists (Keynes) had the notion that prices are fixed in the short run. It is costly to keep changing your prices when faced with every given shock. As a result, prices in the market tend to change slowly. Think about the price of milk at Dominicks. Macro conditions are changing all ...
... • Some Macro Economists (Keynes) had the notion that prices are fixed in the short run. It is costly to keep changing your prices when faced with every given shock. As a result, prices in the market tend to change slowly. Think about the price of milk at Dominicks. Macro conditions are changing all ...
Consequence of Innovation: About Twenty
... the customer means spending less. OK, but then why are so many products going up in prices? Inflationar y prices on some products are caused by reduced supply which is a hedge against increasing risk for existing businesses. For example, car making is profitable today only because production is redu ...
... the customer means spending less. OK, but then why are so many products going up in prices? Inflationar y prices on some products are caused by reduced supply which is a hedge against increasing risk for existing businesses. For example, car making is profitable today only because production is redu ...
Final Exam Section 2 Study Questions. 1) State what happens to the
... statement correct or incorrect? State the factors that shift the short run Phillips curve. 10) “As the economy moves upward along its aggregate supply curve, the economy also moves upward along its short-run Phillips curve.” Is the previous statement correct or incorrect? Briefly explain your answer ...
... statement correct or incorrect? State the factors that shift the short run Phillips curve. 10) “As the economy moves upward along its aggregate supply curve, the economy also moves upward along its short-run Phillips curve.” Is the previous statement correct or incorrect? Briefly explain your answer ...
gdp homework
... ECONOMICS 100 Calculating Nominal GDP and real GDP Suppose the following table records the total output and prices for an entire economy. Further, suppose the base year in the following table is 2003. The base year is the year for comparing other years. Calculating GDP for 2004 is (P2004 x Q2004= no ...
... ECONOMICS 100 Calculating Nominal GDP and real GDP Suppose the following table records the total output and prices for an entire economy. Further, suppose the base year in the following table is 2003. The base year is the year for comparing other years. Calculating GDP for 2004 is (P2004 x Q2004= no ...
Mankiw 5/e Chapter 13: Aggregate Supply
... When income is high, the demand for goods is high. Firms with flexible prices set high prices. The greater the fraction of flexible price firms, the smaller is s and the bigger is the effect of Y on P. CHAPTER 13 ...
... When income is high, the demand for goods is high. Firms with flexible prices set high prices. The greater the fraction of flexible price firms, the smaller is s and the bigger is the effect of Y on P. CHAPTER 13 ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... consequences. However, Atkeson and Phelan show that these asset price consequences need not have important welfare effects either. In their model, the welfare effects of these asset price consequences hinge crucially on the extent to which bond returns are stabilized (so that the cost of borrowing c ...
... consequences. However, Atkeson and Phelan show that these asset price consequences need not have important welfare effects either. In their model, the welfare effects of these asset price consequences hinge crucially on the extent to which bond returns are stabilized (so that the cost of borrowing c ...
mid term exam solutions
... AE describes the actual level of expenditure. Yet, the economy is in equilibrium when production (i.e., income) equals AE. That is, when Y=AE. Q2. In practice, the rate of unemployment is measured based on a survey that the BLS carries out every month. Roughly, the survey concerns household members ...
... AE describes the actual level of expenditure. Yet, the economy is in equilibrium when production (i.e., income) equals AE. That is, when Y=AE. Q2. In practice, the rate of unemployment is measured based on a survey that the BLS carries out every month. Roughly, the survey concerns household members ...