• Study Resource
  • Explore
    • Arts & Humanities
    • Business
    • Engineering & Technology
    • Foreign Language
    • History
    • Math
    • Science
    • Social Science

    Top subcategories

    • Advanced Math
    • Algebra
    • Basic Math
    • Calculus
    • Geometry
    • Linear Algebra
    • Pre-Algebra
    • Pre-Calculus
    • Statistics And Probability
    • Trigonometry
    • other →

    Top subcategories

    • Astronomy
    • Astrophysics
    • Biology
    • Chemistry
    • Earth Science
    • Environmental Science
    • Health Science
    • Physics
    • other →

    Top subcategories

    • Anthropology
    • Law
    • Political Science
    • Psychology
    • Sociology
    • other →

    Top subcategories

    • Accounting
    • Economics
    • Finance
    • Management
    • other →

    Top subcategories

    • Aerospace Engineering
    • Bioengineering
    • Chemical Engineering
    • Civil Engineering
    • Computer Science
    • Electrical Engineering
    • Industrial Engineering
    • Mechanical Engineering
    • Web Design
    • other →

    Top subcategories

    • Architecture
    • Communications
    • English
    • Gender Studies
    • Music
    • Performing Arts
    • Philosophy
    • Religious Studies
    • Writing
    • other →

    Top subcategories

    • Ancient History
    • European History
    • US History
    • World History
    • other →

    Top subcategories

    • Croatian
    • Czech
    • Finnish
    • Greek
    • Hindi
    • Japanese
    • Korean
    • Persian
    • Swedish
    • Turkish
    • other →
 
Profile Documents Logout
Upload
A guide to the Eurosystem/ECB staff macroeconomic projection
A guide to the Eurosystem/ECB staff macroeconomic projection

... area and individual country projections draw on all the expertise available and that there is consistency between the euro area and the individual country projections, reflecting a consensus among Eurosystem/ECB staff. The preparation of detailed figures for the macroeconomic projections for the eur ...
Local Risk, Local Factors, and Asset Prices∗
Local Risk, Local Factors, and Asset Prices∗

Inflation Targeting with a backward Bending Phillips Curve
Inflation Targeting with a backward Bending Phillips Curve

... reformulation of Phillips curve theory in the late 1960s. That reformulation shifted the focus of Phillips curve research to the issue of expectation formation, closing an alternative research program suggested by Tobin (1971a, 1971b) that focused on incorporation of inflation expectations. Tobin’s ...
Practice Questions Chapter 1
Practice Questions Chapter 1

Chapter 2 1. Identify the parts of the circular
Chapter 2 1. Identify the parts of the circular

... £40,000 of spending from households to market for goods and services. Car moves from market for goods and services to household. £40,000 of revenue from market for goods and services to firms while car moves from firm to market for goods and services. ...
Foundations of Economics, 3e (Bade/Parkin)
Foundations of Economics, 3e (Bade/Parkin)

... 47) An increase in the price level leads to A) an upward movement along the aggregate supply curve. B) a downward movement along the aggregate supply curve. C) a leftward shift of the aggregate supply curve. D) a rightward shift of the aggregate supply curve. E) neither a movement along the aggrega ...
Money and the Transmission Mechanism in the Optimizing IS
Money and the Transmission Mechanism in the Optimizing IS

... formulation (4) is probably the most commonly used version of the optimizing IS equation in the literature.5 The recent IS-LM revival has followed Koenig (1989, 1993a, 1993b) in building an aggregate IS equation from the standard Euler optimality condition for consumption that appears in forward-loo ...
paper - University of Oxford, Department of Economics
paper - University of Oxford, Department of Economics

... labour was able to use its bargaining power to raise wages faster than productivity and this resulted in price increases. But there was a variety of other more or less closely related accounts. One was a similar in nature to the idea of unions causing inflation, but had producers with market power r ...
AP ECON – Final Exam Review
AP ECON – Final Exam Review

... II. The level of prices doesn’t matter. III. The rate of change in prices matters. a. I only d. II and III only b. II only e. I, II, and III c. III only ____ 72. If your nominal wage doubles at the same time as prices double, your real wage will a. increase d. double b. decrease e. be impossible to ...
12INFLATION*
12INFLATION*

... Skill: Recognition ...
Energy Subsidies in Latin America and the Caribbean: Stocktaking
Energy Subsidies in Latin America and the Caribbean: Stocktaking

... in several countries. This has prompted some authorities to develop strategies to reduce subsidies and to target them to the most vulnerable. However, energy subsidy reform is often difficult as it can be associated with adverse near-term economic and social consequences. Vested interests that captu ...
NBER WORKING PAPER SERIES STABILIZING EXPECTATIONS UNDER MONETARY AND FISCAL POLICY COORDINATION
NBER WORKING PAPER SERIES STABILIZING EXPECTATIONS UNDER MONETARY AND FISCAL POLICY COORDINATION

... ables on endogenous macroeconomic developments, the greater the likelihood of expectationsdriven instability. This gives support to concerns about the ability of policy-makers to …ne tune the macroeconomy expounded in Friedman (1968). However, a policy regime which guarantees stability of expectati ...
CPA PassMaster Questions–Business 2 Export Date: 10/30/08
CPA PassMaster Questions–Business 2 Export Date: 10/30/08

... However, health care services are typically not affected by business cycles. People need medical services regardless of whether or not the economy is doing well. Thus, the health care industry is the least affected by the business cycle. Choice "a" is incorrect. During a downturn in economic activit ...
1O >>Aggregate Supply and Aggregate Demand
1O >>Aggregate Supply and Aggregate Demand

... At any given point in time, many of the costs producers face are fixed and can’t be changed for an extended period of time. Typically, the largest source of inflexible production cost is the wages paid to workers. Wages here refers to all forms of worker compensation, such as employer-paid health ca ...
Inflation Dynamics in Sri Lanka: An Empirical Analysis
Inflation Dynamics in Sri Lanka: An Empirical Analysis

... studies investigate the overall impact of macroeconomic aggregates on inflation, which is helpful for better economic policies. Second, with the consideration of the government expenditure, this study investigates the fiscal impact on expenditure, which plays a vital role in an economy. In particula ...
This PDF is a selection from a published volume from
This PDF is a selection from a published volume from

... Taylor's (1993) rule, which has the central bank adjust the short-term nominal interest rate in response to fluctuations in inflation and some measure of output. Rare is the paper now that posits an exogenous process for money growth and claims to offer practical policy advice. A substantial line of ...
Advertising, Mass Consumption and Capitalism
Advertising, Mass Consumption and Capitalism

Advertising, Mass Consumption and Capitalism
Advertising, Mass Consumption and Capitalism

... consumption goods (that is, advertising that generates a ”quest for distinction” in Bourdieu’s terminology) tends to have positive welfare effects on the representative consumer. This is because as a consequence of advertising, firms extract monopoly profits from the consumers and charge higher pric ...
Document
Document

... This fall is particularly damaging when the capital belongs to the people of the affected country, because not only are the citizens now burdened by the loss of faith in the economy and devaluation of their currency, but probably also their assets have lost much of their Real versus nominal value (e ...
The political economy of OPEC - Department of Agricultural
The political economy of OPEC - Department of Agricultural

... countries pay significantly lower price at the pump compared with the average price paid by the rest of the world. Whereas in 2006 super gasoline prices in non-OPEC countries equaled, on average, 1.04 US$ per liter, they averaged only 0.28 US$ per liter in OPEC countries (Metschies et al., 2007). Th ...
MacroPolicy - Purdue Agriculture
MacroPolicy - Purdue Agriculture

... Suppose the price is $2. Now there’s a shortage. Consumers want to buy 12,000 pizzas, but restaurants only make 1,000. Consumers are lined up around the block for a chance to buy pizza. Restaurant owners wouldn’t take long to raise their prices in such a situation. Some hungry consumers at the back ...
The firm size distribution across countries and skill
The firm size distribution across countries and skill

the business cycle - McGraw Hill Higher Education
the business cycle - McGraw Hill Higher Education

INFLATION IN VIETNAM
INFLATION IN VIETNAM

... summary about all theories explaining inflation is not a simple task. In order to avoid overlapped statements this part attempt to arrange the broadly theoretical explanation on inflation based mainly on two aspects of inflation’s causes. These aspects are demand-pull and cost-push. There are certai ...
Preview Sample File
Preview Sample File

... Answer: A nation's resources, often referred to as the factors of production, include four tradition factors: labor, capital, entrepreneurs and physical resources. Recently, information resources were added to the list. An economic system is defined by how it manages and allocates these factors of p ...
< 1 2 3 4 5 6 7 8 ... 278 >

Nominal rigidity

Nominal rigidity, also known as price-stickiness or wage-stickiness, describes a situation in which the nominal price is resistant to change. Complete nominal rigidity occurs when a price is fixed in nominal terms for a relevant period of time. For example, the price of a particular good might be fixed at $10 per unit for a year. Partial nominal rigidity occurs when a price may vary in nominal terms, but not as much as it would if perfectly flexible. For example, in a regulated market there might be limits to how much a price can change in a given year.If we look at the whole economy, some prices might be very flexible and others rigid. This will lead to the aggregate price level (which we can think of as an average of the individual prices) becoming ""sluggish"" or ""sticky"" in the sense that it does not respond to macroeconomic shocks as much as it would if all prices were flexible. The same idea can apply to nominal wages. The presence of nominal rigidity is animportant part of macroeconomic theory since it can explain why markets might not reach equilibrium in the short run or even possibly the long-run. In his The General Theory of Employment, Interest and Money, John Maynard Keynes argued that nominal wages display downward rigidity, in the sense that workers are reluctant to accept cuts in nominal wages. This can lead to involuntary unemployment as it takes time for wages to adjust to equilibrium, a situation he thought applied to the Great Depression that he sought to understand.
  • studyres.com © 2025
  • DMCA
  • Privacy
  • Terms
  • Report