Deterrence Effects of Korean Antitrust Enforcement on
... not magnitude of penalties is what will deter cartel activity the most. At best, however, this is quite an indirect approach to deterrence, and what seems preferable (though often more difficult due to data limitations) is the more direct look at cartel occurrence or price effects due to antitrust e ...
... not magnitude of penalties is what will deter cartel activity the most. At best, however, this is quite an indirect approach to deterrence, and what seems preferable (though often more difficult due to data limitations) is the more direct look at cartel occurrence or price effects due to antitrust e ...
The Great Depression Lesson 6 - Could It Happen Again?
... 19: Unemployment imposes costs on individuals and nations. Unexpected inflation imposes costs on many people and benefits some others because it arbitrarily redistributes purchasing power. Inflation can reduce the rate of growth of national living standards because individuals and organizations use ...
... 19: Unemployment imposes costs on individuals and nations. Unexpected inflation imposes costs on many people and benefits some others because it arbitrarily redistributes purchasing power. Inflation can reduce the rate of growth of national living standards because individuals and organizations use ...
Global economic conditions survey report: Q4, 2015
... eurozone, the US, the UK and Japan. In a number of emerging markets, mostly in Asia and Central & Eastern Europe, inflation was negative for most of 2015. However, a bout of deflation does not have to be bad news. If it is the result of a supply-side shock, like a fall in commodity prices, rather th ...
... eurozone, the US, the UK and Japan. In a number of emerging markets, mostly in Asia and Central & Eastern Europe, inflation was negative for most of 2015. However, a bout of deflation does not have to be bad news. If it is the result of a supply-side shock, like a fall in commodity prices, rather th ...
NBER WORKING PAPER SERIES UNION Matteo Cacciatore
... Deregulation (even asymmetric across countries) reduces real distortions in goods and labor markets. Since the benefits take time to materialize, the Ramsey central bank expands monetary policy more aggressively than the historical ECB to generate lower markups and boost job creation along the trans ...
... Deregulation (even asymmetric across countries) reduces real distortions in goods and labor markets. Since the benefits take time to materialize, the Ramsey central bank expands monetary policy more aggressively than the historical ECB to generate lower markups and boost job creation along the trans ...
7. Medium-Term Projections
... indicators improve, and increasing global risk appetite have been the major factors leading to an acceleration in capital flows to emerging markets. Nevertheless, the deleveraging process in advanced economies may impede the recovery in the economic activity and thus slow down the improvement in the ...
... indicators improve, and increasing global risk appetite have been the major factors leading to an acceleration in capital flows to emerging markets. Nevertheless, the deleveraging process in advanced economies may impede the recovery in the economic activity and thus slow down the improvement in the ...
Lecture 11.2
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. ...
... • The classical economists’ world was one of fully utilized resources. • In the 1930s, Europe and the United States entered a period of economic decline that could not be explained by the classical model • John Maynard Keynes developed an explanation that has become known as the Keynesian model. ...
The Financial Accelerator in a Quantitative Business Cycle Framework
... Of course, it can be argued that the standard assumption of financial-structure irrelevance is only a simplification, not to be taken literally, and not harmful if the "frictions" in financial and credit markets are sufficiently small. However, as Gertler (1988) discusses, there is a long-standing a ...
... Of course, it can be argued that the standard assumption of financial-structure irrelevance is only a simplification, not to be taken literally, and not harmful if the "frictions" in financial and credit markets are sufficiently small. However, as Gertler (1988) discusses, there is a long-standing a ...
Determinants of Inflation in Nepal: An Empirical Assessment
... determination of inflation. The supply shocks generated outside the country cannot be controlled by the domestic policy. In addition, it is seen that past experiences on inflation may influence the future expected rate of inflation. This pushed the Keynesian economists to formulate new theory which ...
... determination of inflation. The supply shocks generated outside the country cannot be controlled by the domestic policy. In addition, it is seen that past experiences on inflation may influence the future expected rate of inflation. This pushed the Keynesian economists to formulate new theory which ...
Vienna vs. Chicago on Monetary Issues
... which the extra cash spills. The increased demand will spread sooner or later affecting equities, houses, durable producer goods, durable consumer goods, and so on, thought not necessarily in that order…. These effects can be described as operating on “interest rates” if a more cosmopolitan [i.e., A ...
... which the extra cash spills. The increased demand will spread sooner or later affecting equities, houses, durable producer goods, durable consumer goods, and so on, thought not necessarily in that order…. These effects can be described as operating on “interest rates” if a more cosmopolitan [i.e., A ...
- TestbankU
... of the same goods and services using some base year prices. It is possible for nominal GDP to be less than real GDP in a given year. Given the definitions of the two variables, this will occur if prices in that year are simply less than prices in the base year. If, for example, the base year is 2002 ...
... of the same goods and services using some base year prices. It is possible for nominal GDP to be less than real GDP in a given year. Given the definitions of the two variables, this will occur if prices in that year are simply less than prices in the base year. If, for example, the base year is 2002 ...
Document
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
Document
... when sellers charge different customers different prices for the same good or service when the cost does not differ. is possible only with monopoly or where members of a small group of firms (oligopolists, to be considered later) follow identical pricing policies. ...
... when sellers charge different customers different prices for the same good or service when the cost does not differ. is possible only with monopoly or where members of a small group of firms (oligopolists, to be considered later) follow identical pricing policies. ...
Chap 29
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
Walentin 2013
... and the intermediate good to produce new housing. Each period, a unit-sized endowment of land is available. The …nancial constraint in the model applies to households, who can only borrow up to a …xed fraction of the expected next period value of their house. Loans are in nominal terms and we thereb ...
... and the intermediate good to produce new housing. Each period, a unit-sized endowment of land is available. The …nancial constraint in the model applies to households, who can only borrow up to a …xed fraction of the expected next period value of their house. Loans are in nominal terms and we thereb ...
Real GDP with a Fixed Price Level
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
... The Multiplier and the Price Level In the equilibrium expenditure model, the price level is constant. But real firms don’t hold their prices constant for long. When they have an unplanned change in inventories, they change production and prices. And the price level changes when firms change prices. ...
- TestbankU
... and computer-related industries. In the past 70 years, manufacturing output has declined from 54 percent of GDP to 38 percent, while the output of service industries has increased from 35 percent of GDP to 54 percent. The SIC has not been updated to reflect the changes in the economy. NAICS will als ...
... and computer-related industries. In the past 70 years, manufacturing output has declined from 54 percent of GDP to 38 percent, while the output of service industries has increased from 35 percent of GDP to 54 percent. The SIC has not been updated to reflect the changes in the economy. NAICS will als ...
Theoretical and Econometric Modeling of Disequilibrium
... classical unemployment. These models were attempts at obtaining Keynesian results in models where economic • agents are rational maximizing decision-makers. Parallel to the above macroeconomic developments, the general equilibrium framework associated with Arrow and Debreu was generalized to the cas ...
... classical unemployment. These models were attempts at obtaining Keynesian results in models where economic • agents are rational maximizing decision-makers. Parallel to the above macroeconomic developments, the general equilibrium framework associated with Arrow and Debreu was generalized to the cas ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... GDP PPPs, even for economies at similar levels of development (van Ark 1993; van Ark and Timmer 2001). Therefore PPP adjustments—taking account of differences in the structure of relative prices of R&D inputs and output across economies and industries—may be worth the considerable effort required for ...
... GDP PPPs, even for economies at similar levels of development (van Ark 1993; van Ark and Timmer 2001). Therefore PPP adjustments—taking account of differences in the structure of relative prices of R&D inputs and output across economies and industries—may be worth the considerable effort required for ...