GDP per capita or Real Wages?
... Authors will use as a price index a geometric or an arithmetic weighted average of individual prices where the weights are the shares of each good in the consumption basket of a typical worker. The scope of goods included in the consumption basket is determined largely by data availability. Some stu ...
... Authors will use as a price index a geometric or an arithmetic weighted average of individual prices where the weights are the shares of each good in the consumption basket of a typical worker. The scope of goods included in the consumption basket is determined largely by data availability. Some stu ...
A Literature Survey with Special Reference to Theories of Inflation
... economic units initially results in higher expenditures for goods, and hence, in higher production. Then, under the assumption of underemployment, prices start to adjust to risen money supply. As a result, money is not neutral as in the neoclassical model; it has also some real effects in the short ...
... economic units initially results in higher expenditures for goods, and hence, in higher production. Then, under the assumption of underemployment, prices start to adjust to risen money supply. As a result, money is not neutral as in the neoclassical model; it has also some real effects in the short ...
(656 K)
... The Economic Derivatives market prices options on many different outcomes, allowing us to assess forecasts of a full probability distribution. In section 4 we compare the dispersion of the option- and survey-based distributions, and exploit the unique feature of our data that allows us to address t ...
... The Economic Derivatives market prices options on many different outcomes, allowing us to assess forecasts of a full probability distribution. In section 4 we compare the dispersion of the option- and survey-based distributions, and exploit the unique feature of our data that allows us to address t ...
Liquidity Traps and Expectation Dynamics: Fiscal Stimulus or Fiscal
... As is now recognized, a Taylor-type interest-rate rule, when combined with the Fisher equation, necessarily leads to multiple equilibria. In addition to the intended steady state at the targeted inflation rate = , there is a low-inflation unintended steady state, which in fact is likely to be ...
... As is now recognized, a Taylor-type interest-rate rule, when combined with the Fisher equation, necessarily leads to multiple equilibria. In addition to the intended steady state at the targeted inflation rate = , there is a low-inflation unintended steady state, which in fact is likely to be ...
No. 278 Distortionary Fiscal Policy and Monetary Policy Goals
... Prescott (1977) and Barro and Gordon (1983). In particular, to overcome the in‡ationary bias caused by discretionary conduct of monetary policy, Rogo¤ (1985) proposed appointing a conservative central banker, who dislikes in‡ation more than society does. Recently in Adam and Billi (2008) we have sho ...
... Prescott (1977) and Barro and Gordon (1983). In particular, to overcome the in‡ationary bias caused by discretionary conduct of monetary policy, Rogo¤ (1985) proposed appointing a conservative central banker, who dislikes in‡ation more than society does. Recently in Adam and Billi (2008) we have sho ...
Historical energy price shocks and their changing effects on the economy: Working Paper 153 (1 MB) (opens in new window)
... economy . Rising oil price increase energy expenditure (when price elasticities of demand are low) which raises the price of goods produced and reduces goods consumed, thus, harming GDP, as well as harming the balance of payments (when oil is imported) and generating inflationary pressures. Hamilton ...
... economy . Rising oil price increase energy expenditure (when price elasticities of demand are low) which raises the price of goods produced and reduces goods consumed, thus, harming GDP, as well as harming the balance of payments (when oil is imported) and generating inflationary pressures. Hamilton ...
Macroeconomic Derivatives: An Initial Analysis of Market-based Macro Forecasts, Uncertainty, and Risk.
... The Economic Derivatives market prices options on many different outcomes, allowing us to assess forecasts of a full probability distribution. In section 4 we compare the dispersion of the option- and survey-based distributions, and exploit the unique feature of our data that allows us to address t ...
... The Economic Derivatives market prices options on many different outcomes, allowing us to assess forecasts of a full probability distribution. In section 4 we compare the dispersion of the option- and survey-based distributions, and exploit the unique feature of our data that allows us to address t ...
Economics Principles and Practices Reading Essentials
... is a tangible economic product that is useful, relatively scarce, and transferable to others. Examples of goods include books, bicycles, and computers. There are many types of goods. A capital good is a good producers use to make other goods and services, such as a machine in a factory. A consumer g ...
... is a tangible economic product that is useful, relatively scarce, and transferable to others. Examples of goods include books, bicycles, and computers. There are many types of goods. A capital good is a good producers use to make other goods and services, such as a machine in a factory. A consumer g ...
Why Monetary Policy Matters
... of growth of aggregate output relatively high. After all, low unemployment and high rates of growth would mean higher real incomes and higher average living standards. This brings us to the second proposition above―the limitations on what can be achieved by monetary policy. Arguments put forward mos ...
... of growth of aggregate output relatively high. After all, low unemployment and high rates of growth would mean higher real incomes and higher average living standards. This brings us to the second proposition above―the limitations on what can be achieved by monetary policy. Arguments put forward mos ...
ECON 202 - Macroeconomic Principles
... Economic Growth U.S. Real GDP, 1930-2015 Nominal and Real US-GDP ...
... Economic Growth U.S. Real GDP, 1930-2015 Nominal and Real US-GDP ...
The labyrinth: how can Latin America and the Caribbean navigate
... amortizations are set to double in the coming years although, as noted in last year’s report, there ...
... amortizations are set to double in the coming years although, as noted in last year’s report, there ...
sample - Test Bank Corp
... 12) Economic indicators help to assess the performance of an economy. Answer: TRUE Explanation: Specifically, economic growth is measured via aggregate output, standard of living, gross domestic product, and productivity; stability is reflected through levels of inflation and unemployment. Page Ref ...
... 12) Economic indicators help to assess the performance of an economy. Answer: TRUE Explanation: Specifically, economic growth is measured via aggregate output, standard of living, gross domestic product, and productivity; stability is reflected through levels of inflation and unemployment. Page Ref ...
Oil-Price Density Forecasts of U.S. GDP
... In this paper we carry out a pseudo out-of-sample (OOS) density forecasting exercise to examine the predictive content of oil prices for U.S. real GDP growth. Our point of departure is the seminal paper of Hamilton (1983), who shows that large crude oil price increases systematically Granger-caused ...
... In this paper we carry out a pseudo out-of-sample (OOS) density forecasting exercise to examine the predictive content of oil prices for U.S. real GDP growth. Our point of departure is the seminal paper of Hamilton (1983), who shows that large crude oil price increases systematically Granger-caused ...
What Does Monetary Policy Do?
... has to identify it-give its elements economic interpretations.3The mathematicalmodel explains all variationin the data as arising from the independentdisturbances,E. Since we are studying the effects of monetarypolicy, we need to specify an element of the E vector, or a list of its elements, that re ...
... has to identify it-give its elements economic interpretations.3The mathematicalmodel explains all variationin the data as arising from the independentdisturbances,E. Since we are studying the effects of monetarypolicy, we need to specify an element of the E vector, or a list of its elements, that re ...
paper - Pascal Michaillat
... describes the consumption-saving decision of households, an interest-rate rule that describes how monetary policy responds to inflation and unemployment, and a Phillips curve relating inflation to unemployment. The mechanism behind the Phillips curve is the following. When unemployment is high, sell ...
... describes the consumption-saving decision of households, an interest-rate rule that describes how monetary policy responds to inflation and unemployment, and a Phillips curve relating inflation to unemployment. The mechanism behind the Phillips curve is the following. When unemployment is high, sell ...