NBER WORKING PAPER SERIES ESTIMATING REAL PRODUCTION AND EXPENDITURES ACROSS NATIONS:
... implement for a larger set of countries. ...
... implement for a larger set of countries. ...
NBER WORKING PAPER SERIES OPTIMAL SIMPLE AND IMPLEMENTABLE MONETARY Stephanie Schmitt-Grohé
... rules that respond to measures of inflation, output and lagged values of the nominal interest rate. We analyze fiscal policy rules whereby the tax revenue is set as an increasing function of the level of public liabilities. The optimal simple and implementable rule is the simple and implementable ru ...
... rules that respond to measures of inflation, output and lagged values of the nominal interest rate. We analyze fiscal policy rules whereby the tax revenue is set as an increasing function of the level of public liabilities. The optimal simple and implementable rule is the simple and implementable ru ...
mmi09 Peersman 9031972 en
... itself could be in a boom or indirectly gain from trade with the rest of the world. Accordingly, the ECB is not necessarily confronted with a trade-off between output and inflation. Even if the oil demand shock is of a purely speculative nature, part of the income transfers to oil-exporting countrie ...
... itself could be in a boom or indirectly gain from trade with the rest of the world. Accordingly, the ECB is not necessarily confronted with a trade-off between output and inflation. Even if the oil demand shock is of a purely speculative nature, part of the income transfers to oil-exporting countrie ...
Macro2
... country with GDP in another country is problematic because prices of particular products in one country may be much less or much more than in the other country. – For example, using the market exchange rate to value Chinese GDP in dollars leads to an estimate that in 2006, U.S. real GDP per person w ...
... country with GDP in another country is problematic because prices of particular products in one country may be much less or much more than in the other country. – For example, using the market exchange rate to value Chinese GDP in dollars leads to an estimate that in 2006, U.S. real GDP per person w ...
Output Market: Output and the Price Level
... semester. There was a time when nearly all people were employed in agriculture - the time of Plimouth Plantations - but the agrarian life gave way to the industrial life reflected in the mills you see in Pawtucket and Fall River - and that is giving way to a post-industrial or information age econom ...
... semester. There was a time when nearly all people were employed in agriculture - the time of Plimouth Plantations - but the agrarian life gave way to the industrial life reflected in the mills you see in Pawtucket and Fall River - and that is giving way to a post-industrial or information age econom ...
Document
... Similarly, price stability, which had been achieved for long periods before the 1930s, has not been consistently observed since that time. In every year in the lifetimes of most students enrolled in this course, the general level of prices has risen. ...
... Similarly, price stability, which had been achieved for long periods before the 1930s, has not been consistently observed since that time. In every year in the lifetimes of most students enrolled in this course, the general level of prices has risen. ...
The Data of Macroeconomics
... A problem arises when using fixed base-year weights: Growth will vary depending on base year chosen. Rapidly growing sectors with declining relative prices will be weighted “too much” as base year becomes further and further in the past. Opposite for slowly growing sectors. CHAPTER 2 ...
... A problem arises when using fixed base-year weights: Growth will vary depending on base year chosen. Rapidly growing sectors with declining relative prices will be weighted “too much” as base year becomes further and further in the past. Opposite for slowly growing sectors. CHAPTER 2 ...
Chapter 9 The IS-LM/AD
... (a) increases output, national saving, and investment, but not the real interest rate. (b) increases output, national saving, and the real interest rate, but not investment. (c) increases the real interest rate, investment, and output, but not national saving. (d) increases output, national saving, ...
... (a) increases output, national saving, and investment, but not the real interest rate. (b) increases output, national saving, and the real interest rate, but not investment. (c) increases the real interest rate, investment, and output, but not national saving. (d) increases output, national saving, ...
Grover et al policy paper January 2016 (opens in new window)
... Table 5: Industries’ intermediate consumption, 2011 (the ‘Combined Use’ or input-output matrix) ...................................................................................................................................... 49 ...
... Table 5: Industries’ intermediate consumption, 2011 (the ‘Combined Use’ or input-output matrix) ...................................................................................................................................... 49 ...
What is Gross Domestic Product
... is designed to measure the output of goods and services produced in an economy. The definition of GDP tells us a lot about what it measures. It measures the “market value” of the goods and services produced. The market prices paid for various items determine how much they will add to GDP. For exampl ...
... is designed to measure the output of goods and services produced in an economy. The definition of GDP tells us a lot about what it measures. It measures the “market value” of the goods and services produced. The market prices paid for various items determine how much they will add to GDP. For exampl ...
Biased Growth (cont.)
... – are downward sloping – if you have less cloth, then you must have more food to be equally satisfied. – that lie farther from the origin make consumers more satisfied – they prefer having more of both goods. – become flatter when they move to the right – with more cloth and less food, an extra yard ...
... – are downward sloping – if you have less cloth, then you must have more food to be equally satisfied. – that lie farther from the origin make consumers more satisfied – they prefer having more of both goods. – become flatter when they move to the right – with more cloth and less food, an extra yard ...
Commentary: How Should Monetary Policy Be ∗ Michael Woodford
... level – a policy that responds to deviations in the price level from some target value (or deterministic trend path) may nonetheless have advantages over one that pays attention only to the inflation rate. The reason for this is intimately connected with the desirability of history-dependence in the ...
... level – a policy that responds to deviations in the price level from some target value (or deterministic trend path) may nonetheless have advantages over one that pays attention only to the inflation rate. The reason for this is intimately connected with the desirability of history-dependence in the ...
Bade_Parkin_Macro_Lecture_CH13
... the quantity of money held is less than the quantity demanded. People sell bonds, the price of a bond falls, and the interest rate rises. A rise in the nominal interest rate decreases the quantity of real money demanded. 3. If the interest rate is 5 percent a year, the quantity of money held equals ...
... the quantity of money held is less than the quantity demanded. People sell bonds, the price of a bond falls, and the interest rate rises. A rise in the nominal interest rate decreases the quantity of real money demanded. 3. If the interest rate is 5 percent a year, the quantity of money held equals ...
GDP
... • Macroeconomics is the study of the economy as a whole. • Its goal is to explain the economic changes that affect many households, firms, and markets at once. ...
... • Macroeconomics is the study of the economy as a whole. • Its goal is to explain the economic changes that affect many households, firms, and markets at once. ...
The Elasticity of Demand for Gasoline in Brazil with the
... The Elasticity of Demand for Gasoline in Brazil with the Flex-fuel Fleet ...
... The Elasticity of Demand for Gasoline in Brazil with the Flex-fuel Fleet ...
Clashing Theories: Why Is Unemployment So High When Interest
... a widely accepted and well-developed account of turnover, wage determination, and unemployment. The standard DMP model is a clashing theory of unemployment, in the sense that its determinants of unemployment do not include any variables that signal an excess supply of current output. Altering the DM ...
... a widely accepted and well-developed account of turnover, wage determination, and unemployment. The standard DMP model is a clashing theory of unemployment, in the sense that its determinants of unemployment do not include any variables that signal an excess supply of current output. Altering the DM ...
G97/2 The Inflation-Output Trade-Off: Is The Phillips Curve
... symmetrically (ie, responding in an equal measure to excess demand and excess supply) under the assumption that the Phillips curve is symmetric while in fact it is not then, on average, output losses will tend to be higher and (or) inflation higher than if policy is conducted in an asymmetric fashio ...
... symmetrically (ie, responding in an equal measure to excess demand and excess supply) under the assumption that the Phillips curve is symmetric while in fact it is not then, on average, output losses will tend to be higher and (or) inflation higher than if policy is conducted in an asymmetric fashio ...
PDF
... domestic unrest and expropriation, whereas Jodice (1980) did not. The political risk model has been directly tested with Knudsen (1974), Jones (1984), and Picht and Stüven (1991) finding a negative correlation between real GDP growth and the probability of expropriation. However, Jodice (1980) and P ...
... domestic unrest and expropriation, whereas Jodice (1980) did not. The political risk model has been directly tested with Knudsen (1974), Jones (1984), and Picht and Stüven (1991) finding a negative correlation between real GDP growth and the probability of expropriation. However, Jodice (1980) and P ...