Principles of Economics, Case and Fair,9e
... fine-tuning The phrase used by Walter Heller to refer to the government’s role in regulating inflation and unemployment. stagflation A situation of both high inflation and high unemployment. ...
... fine-tuning The phrase used by Walter Heller to refer to the government’s role in regulating inflation and unemployment. stagflation A situation of both high inflation and high unemployment. ...
ECS1601 –SECTION A 1.16 Which of the following statements are
... 2.10 The correct alternative is (2 [2] Correct. Since the gold price is quoted in dollars, an increase in the price of gold means that more dollars will be earned – the supply of dollar increases. 2.11 Which one of the following is most likely to increase the demand for US dollar on the South Afric ...
... 2.10 The correct alternative is (2 [2] Correct. Since the gold price is quoted in dollars, an increase in the price of gold means that more dollars will be earned – the supply of dollar increases. 2.11 Which one of the following is most likely to increase the demand for US dollar on the South Afric ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... to lay the groundwork for how monetary and fiscal policies jointly determine equilibrium. These results are well known, but the broader implications of thinking about macro policies jointly are not fully appreciated. An infinitely lived representative household is endowed each period with a constant ...
... to lay the groundwork for how monetary and fiscal policies jointly determine equilibrium. These results are well known, but the broader implications of thinking about macro policies jointly are not fully appreciated. An infinitely lived representative household is endowed each period with a constant ...
Stephen J. Working OF INTEREST RATES
... larger variance in policy will translate to a larger variance in the rates. Secondly, by influencing private speculative behavior, it also has another indirect effect. This may either reinforce or counteract the direct effect, depending upon the nature of the disturbance. The remainder of the paper ...
... larger variance in policy will translate to a larger variance in the rates. Secondly, by influencing private speculative behavior, it also has another indirect effect. This may either reinforce or counteract the direct effect, depending upon the nature of the disturbance. The remainder of the paper ...
EMPIRICAL EVIDENCE 3
... Although popular, the co-integration approaches are highly dependent on the stationarity of the series and also on the assumption that the estimated parameters do not change substantially over time (the estimated coefficients are averages throughout the study period). Given these requirements, rese ...
... Although popular, the co-integration approaches are highly dependent on the stationarity of the series and also on the assumption that the estimated parameters do not change substantially over time (the estimated coefficients are averages throughout the study period). Given these requirements, rese ...
5 Steps to a 5 PDF
... a strong understanding of where the learning happens and where the mistakes are made. Third, as a reader of AP exams, I can tell you where points are lost and where a 5 is made on the free-response questions. Most importantly, I am a realist. You want to know what it takes to earn a 5 and not necess ...
... a strong understanding of where the learning happens and where the mistakes are made. Third, as a reader of AP exams, I can tell you where points are lost and where a 5 is made on the free-response questions. Most importantly, I am a realist. You want to know what it takes to earn a 5 and not necess ...
The Aggregate Supply Curve
... The Misperception Effect • It might be that it was not just for his goods that prices were rising; the prices of many other goods and services could also be rising at the same time as a result of an increase in the price level. • The relative price of his output, then, was not actually rising, alth ...
... The Misperception Effect • It might be that it was not just for his goods that prices were rising; the prices of many other goods and services could also be rising at the same time as a result of an increase in the price level. • The relative price of his output, then, was not actually rising, alth ...
Scholarly Electronic Journal Publishing: A Study Comparing
... nonprofit journals and their library subscription prices averaged about $180 per year. Only five of the twenty most-cited journals were owned by commercial publishers, and the average price of these five journals was about $1660 per year. The average price per page (calculated by dividing year 2001 ...
... nonprofit journals and their library subscription prices averaged about $180 per year. Only five of the twenty most-cited journals were owned by commercial publishers, and the average price of these five journals was about $1660 per year. The average price per page (calculated by dividing year 2001 ...
Let`s Get This Right: Swiss GDP and Value Added by Industry from
... large aggregates (10 sectors; manufacturing is lumped together in one single sector). The complete production account for 50 industries is available only since 1997. This corresponds to the date when ...
... large aggregates (10 sectors; manufacturing is lumped together in one single sector). The complete production account for 50 industries is available only since 1997. This corresponds to the date when ...
... This national summary was prepared by ESCAP Statistics Division in November, 2013. Results of the Capacity Screening questionnaire were received in November, 2013 from 50 of the 58 member countries who were contacted. Further information on RPES and the Core Set is available here: http://www.unescap ...
Telecommunications in small economies: the impact of liberalization
... Ambiguity in the definition of smallness based solely on population becomes more obvious in the examples of countries used in different studies 2 . For instance, Briguglio and Buttigieg (2004) discuss the case of Malta; Spiller and Cardilli (1997) study the notion of smallness in Australia, Chile, ...
... Ambiguity in the definition of smallness based solely on population becomes more obvious in the examples of countries used in different studies 2 . For instance, Briguglio and Buttigieg (2004) discuss the case of Malta; Spiller and Cardilli (1997) study the notion of smallness in Australia, Chile, ...
PDF Download
... (2012) by calibrating the model for respectively the Great Inflation and Great Moderation regimes and performing a series of counterfactual exercises. Consistent with the stylized facts, our model predicts a high degree of wage indexation for the Great Inflation, characterized by very volatile - in ...
... (2012) by calibrating the model for respectively the Great Inflation and Great Moderation regimes and performing a series of counterfactual exercises. Consistent with the stylized facts, our model predicts a high degree of wage indexation for the Great Inflation, characterized by very volatile - in ...
Optimal Automatic Stabilizers
... earned when she lost her job. But, given the persistence in earnings, both in the data and in our model, our formulation will not be quantitatively too different from this case. Also, in our notation, it may appear that unemployment benefits are not subject to the income tax, but this is just the re ...
... earned when she lost her job. But, given the persistence in earnings, both in the data and in our model, our formulation will not be quantitatively too different from this case. Also, in our notation, it may appear that unemployment benefits are not subject to the income tax, but this is just the re ...
Optimal Automatic Stabilizers
... earned when she lost her job. But, given the persistence in earnings, both in the data and in our model, our formulation will not be quantitatively too different from this case. Also, in our notation, it may appear that unemployment benefits are not subject to the income tax, but this is just the re ...
... earned when she lost her job. But, given the persistence in earnings, both in the data and in our model, our formulation will not be quantitatively too different from this case. Also, in our notation, it may appear that unemployment benefits are not subject to the income tax, but this is just the re ...
THE DEMAND FOR MONEY
... real income stream, Y, transactions costs, γ, and the expected rate of inflation, πexpected, are held constant along the Md curve. A change in the price level causes a movement along the Md curve, while changes in the remaining variables that determine money demand cause shifts in the Md curve. We a ...
... real income stream, Y, transactions costs, γ, and the expected rate of inflation, πexpected, are held constant along the Md curve. A change in the price level causes a movement along the Md curve, while changes in the remaining variables that determine money demand cause shifts in the Md curve. We a ...
DETERMINANT AND IMPACTS OF DYNAMIC INFLATION IN
... employment level (Jhingan, 1997). Though various economists define inflation in different ways a common general agreement is that inflation is a sustained increase in the general price level. Different schools of thought emphasize one or a combination of the possible sources of inflation. for exampl ...
... employment level (Jhingan, 1997). Though various economists define inflation in different ways a common general agreement is that inflation is a sustained increase in the general price level. Different schools of thought emphasize one or a combination of the possible sources of inflation. for exampl ...
... resources are being allocated efficiently to the production of shoes. B. society would consider additional units of shoes to be more valuable than alternative products. C. society would consider additional units of shoes to be less valuable than alternative products. D. society would experience a ...
The Productive Government Spending Multiplier, In and Out of the
... more attention. If we stay in the familiar, one representative agent environment, then —unless you assume non-separable preferences over consumption and leisure in a model with sticky prices as in Bilbiie (2011)—you end up with a negative multiplier on consumption. The reason is that an increase in ...
... more attention. If we stay in the familiar, one representative agent environment, then —unless you assume non-separable preferences over consumption and leisure in a model with sticky prices as in Bilbiie (2011)—you end up with a negative multiplier on consumption. The reason is that an increase in ...
Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions
... The theoretical framework we describe helps to interpret recent and ongoing research on the effects of other forms of local government spending (Acconcia et al., 2011; Chodorow-Reich et al., 2012; Clemens and Miran, 2012; Cohen et al., 2011; Fishback and Kachanovskaya, 2010; Serrato and Wingender, 2 ...
... The theoretical framework we describe helps to interpret recent and ongoing research on the effects of other forms of local government spending (Acconcia et al., 2011; Chodorow-Reich et al., 2012; Clemens and Miran, 2012; Cohen et al., 2011; Fishback and Kachanovskaya, 2010; Serrato and Wingender, 2 ...
Chapter 24: Aggregate Demand, Aggregate Supply, and Inflation
... The Aggregate Supply Curve: A Warning • When we draw a firm’s supply curve, we assume that input prices are constant. In macroeconomics, an increase in the overall price level means that at least some input prices will be rising as well. • The outputs of some firms are the inputs of other firms. ...
... The Aggregate Supply Curve: A Warning • When we draw a firm’s supply curve, we assume that input prices are constant. In macroeconomics, an increase in the overall price level means that at least some input prices will be rising as well. • The outputs of some firms are the inputs of other firms. ...
Monetary policy trade-offs and forward guidance
... inflation returns to the target, but only if that does not entail material risks to its overriding objective of price stability. In particular, the guidance is subject to two price stability ‘knockouts’ that, if breached, would mean that the guidance would no longer apply: first, if in the MPC’s vie ...
... inflation returns to the target, but only if that does not entail material risks to its overriding objective of price stability. In particular, the guidance is subject to two price stability ‘knockouts’ that, if breached, would mean that the guidance would no longer apply: first, if in the MPC’s vie ...