13.1 aggregate supply
... The quantity of money kept growing. Also, the government increased its own expenditures, which added to aggregate demand. The combined effects of continued growth in the quantity of money and increased government expenditure limited the fall in aggregate demand and prevented a large decrease in real ...
... The quantity of money kept growing. Also, the government increased its own expenditures, which added to aggregate demand. The combined effects of continued growth in the quantity of money and increased government expenditure limited the fall in aggregate demand and prevented a large decrease in real ...
... rate will rise if the 11If the shock is Harrod neutral, the unemployment elasticity of subsitution exceeds one and fall if the elasticity is less than the one. The intuition is as follows. If the elasticity of subtitutiOfl is one, share of labor is constant. The real wage should fall by exactly the ...
Gasoline Prices and Road Fatalities: International Evidence
... To address these potential endogeneity concerns we present estimates using the two supplyside instruments for the gasoline price employed by Burke and Nishitateno (2013) in their recent study of the gasoline price elasticity of demand. The first is a country’s per capita underground oil reserves, as ...
... To address these potential endogeneity concerns we present estimates using the two supplyside instruments for the gasoline price employed by Burke and Nishitateno (2013) in their recent study of the gasoline price elasticity of demand. The first is a country’s per capita underground oil reserves, as ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... since the base period. The sizable shifts in fiscal policy in Japan and the United States are one likely important factor. Also, as noted above, the difference in productivity growth between traded and nontraded goods sectors was substantial in the 1970s. If productivity in the nontraded goods secto ...
... since the base period. The sizable shifts in fiscal policy in Japan and the United States are one likely important factor. Also, as noted above, the difference in productivity growth between traded and nontraded goods sectors was substantial in the 1970s. If productivity in the nontraded goods secto ...
Economics for Today 2nd edition Irvin B. Tucker
... are relatively constant. Given this assumption, changes in the money supply yield proportionate changes in the price level. ...
... are relatively constant. Given this assumption, changes in the money supply yield proportionate changes in the price level. ...
The Macroeconomic Effects of El Niño
... We contribute to the literature that assesses the macroeconomic effects of weather shocks in several dimensions, including a novel multi-country methodology. Our modelling framework accounts for the effects of common factors (whether observed or unobserved), and ensures that the El Niño-economy rela ...
... We contribute to the literature that assesses the macroeconomic effects of weather shocks in several dimensions, including a novel multi-country methodology. Our modelling framework accounts for the effects of common factors (whether observed or unobserved), and ensures that the El Niño-economy rela ...
Realignment of the Yen-Dollar Exchange Rate: Aspects of the
... since the base period. The sizable shifts in fiscal policy in Japan and the United States are one likely important factor. Also, as noted above, the difference in productivity growth between traded and nontraded goods sectors was substantial in the 1970s. If productivity in the nontraded goods secto ...
... since the base period. The sizable shifts in fiscal policy in Japan and the United States are one likely important factor. Also, as noted above, the difference in productivity growth between traded and nontraded goods sectors was substantial in the 1970s. If productivity in the nontraded goods secto ...
Oil Price Volatility Factors An Applied Research Project Presented in
... make coherent efforts to the economic development of its member states. Today, the organization grew to thirty-four Member countries around the world from North and South America to Europe and Asia-Pacific. OECD’s focus has expanded to include cooperation with civil society of non-Member states and ...
... make coherent efforts to the economic development of its member states. Today, the organization grew to thirty-four Member countries around the world from North and South America to Europe and Asia-Pacific. OECD’s focus has expanded to include cooperation with civil society of non-Member states and ...
Robrt J. Gordon Working 1050 OF EVENTS AND
... many evils. Thus it is surprising that when Federal spending on goods and services is combined with that of state and local government, we find at the bottom of Table 1 (section II.B) that their share in GNP exhibited no increase at all between the 1957—67 decade and the most recent 1973—79 sub—peri ...
... many evils. Thus it is surprising that when Federal spending on goods and services is combined with that of state and local government, we find at the bottom of Table 1 (section II.B) that their share in GNP exhibited no increase at all between the 1957—67 decade and the most recent 1973—79 sub—peri ...
DP2008/Preliminary Draft Real-time conditional forecasts with Bayesian VARs: An application to New Zealand
... BVAR methodology produces more accurate forecasts than a range of univariate and VAR forecasts. Moreover, the BVAR forecasts show comparable forecast accuracy to the judgementally-adjusted forecasts produced internally at the RBNZ. We analyse forecast performance as the size of the BVAR model increa ...
... BVAR methodology produces more accurate forecasts than a range of univariate and VAR forecasts. Moreover, the BVAR forecasts show comparable forecast accuracy to the judgementally-adjusted forecasts produced internally at the RBNZ. We analyse forecast performance as the size of the BVAR model increa ...
Exemplar for Internal Assessment Resource Economics
... The analysis included a description of how the policies would minimise any negative flow-on effects of inflation on growth, using the AS/AD model, but these were not fully justified, which is required for Excellence. For example; the statement that the only negative effect on inflation will be the i ...
... The analysis included a description of how the policies would minimise any negative flow-on effects of inflation on growth, using the AS/AD model, but these were not fully justified, which is required for Excellence. For example; the statement that the only negative effect on inflation will be the i ...
Measuring the Effects of Structural Reforms in Malta: an analysis
... assessment is beyond the scope of this paper. ...
... assessment is beyond the scope of this paper. ...
NBER WORKING PAPER SERIES A SOLUTION TO FISCAL PROCYCLICALITY:
... servicing net external dollar debt.4 The target was subsequently lowered to ½ % of GDP in 2007, and again to 0 in 2009, as it was determined that the debt had been essentially paid off and that a structurally balanced budget was economically appropriate.5 Targeting the structural budget balance, to ...
... servicing net external dollar debt.4 The target was subsequently lowered to ½ % of GDP in 2007, and again to 0 in 2009, as it was determined that the debt had been essentially paid off and that a structurally balanced budget was economically appropriate.5 Targeting the structural budget balance, to ...
Chapter 12 - Dr. George Fahmy
... sloped, increases in aggregate demand raise both output and the price level. A. W. Phillips, investigating unemployment and price/wage increases over time, found that low rates of unemployment in Great Britain were associated with high rates of price/wage rate increase, while higher levels of unempl ...
... sloped, increases in aggregate demand raise both output and the price level. A. W. Phillips, investigating unemployment and price/wage increases over time, found that low rates of unemployment in Great Britain were associated with high rates of price/wage rate increase, while higher levels of unempl ...
Internationalized Production in a Small Open Economy Aur´ elien Eyquem G¨
... Second, the share of domestic variables variances explained by foreign shocks increases by several orders of magnitude. Indeed, standard small open economy DSGE models are mostly unable to account for the observed large effects foreign shocks on domestic variables of small open economies. For instan ...
... Second, the share of domestic variables variances explained by foreign shocks increases by several orders of magnitude. Indeed, standard small open economy DSGE models are mostly unable to account for the observed large effects foreign shocks on domestic variables of small open economies. For instan ...
Chapter 12
... How does the dynamic model of aggregate supply and aggregate demand explain inflation? ...
... How does the dynamic model of aggregate supply and aggregate demand explain inflation? ...
Chapter 9
... • Consider two different levels of output – At the higher level of output, the saving curve is shifted to the right compared to the situation at the lower level of output – Since the investment curve is downward sloping, equilibrium at the higher level of output has a lower real interest rate – Thus ...
... • Consider two different levels of output – At the higher level of output, the saving curve is shifted to the right compared to the situation at the lower level of output – Since the investment curve is downward sloping, equilibrium at the higher level of output has a lower real interest rate – Thus ...
GCE in Economics - Edexcel
... quite abstract — use examples that they are able to relate to, such as asking how many times they would visit their local coffee shop per week at different prices of their favourite drink, or how likely they would be to deliver newspapers at different wage rates. A significant number of students fin ...
... quite abstract — use examples that they are able to relate to, such as asking how many times they would visit their local coffee shop per week at different prices of their favourite drink, or how likely they would be to deliver newspapers at different wage rates. A significant number of students fin ...
CH 9 PDF
... • Consider two different levels of output – At the higher level of output, the saving curve is shifted to the right compared to the situation at the lower level of output – Since the investment curve is downward sloping, equilibrium at the higher level of output has a lower real interest rate – Thus ...
... • Consider two different levels of output – At the higher level of output, the saving curve is shifted to the right compared to the situation at the lower level of output – Since the investment curve is downward sloping, equilibrium at the higher level of output has a lower real interest rate – Thus ...
