... ranked, and the most profitable equilibrium need not be the most efficient. While an informed stabilization policy can sometimes raise welfare, if large booms are necessary to cover fixed costs of innovation, stabilization policy can stop all technological progress. The second essay explores theoret ...
Ch2
... • Over time, relative prices change, so the base year should be updated periodically. • In essence, chain-weighted real GDP updates the base year every year, so it is more accurate than constant-price GDP. • Your textbook usually uses constant-price real GDP, because: – the two measures are highly c ...
... • Over time, relative prices change, so the base year should be updated periodically. • In essence, chain-weighted real GDP updates the base year every year, so it is more accurate than constant-price GDP. • Your textbook usually uses constant-price real GDP, because: – the two measures are highly c ...
New independent estimation of expenditure components
... New data sources incorporated into estimates: Household budget survey as the primary source for HFCE estimations: Estimates on HFCE at current and constant (previous year) prices are treated at 6 digit level of COICOP categories (more than 370 products) The data refer to national concept (the co ...
... New data sources incorporated into estimates: Household budget survey as the primary source for HFCE estimations: Estimates on HFCE at current and constant (previous year) prices are treated at 6 digit level of COICOP categories (more than 370 products) The data refer to national concept (the co ...
Stagflation - Annenberg Learner
... accepted policy for the government to fight unemployment by stimulating total demand. Often, inflation resulted. When that happened, the government shifted gears and clamped down on demand in order to decrease inflation. For five administrations the government more or less successfully practiced the ...
... accepted policy for the government to fight unemployment by stimulating total demand. Often, inflation resulted. When that happened, the government shifted gears and clamped down on demand in order to decrease inflation. For five administrations the government more or less successfully practiced the ...
CHAPTER OVERVIEW
... size. To make comparisons of length, a yard must remain 36 inches. To make comparisons of real output, a dollar must keep the same purchasing power. 3. Nominal GDP is calculated using the current prices prevailing when the output was produced but real GDP is a figure that has been adjusted for price ...
... size. To make comparisons of length, a yard must remain 36 inches. To make comparisons of real output, a dollar must keep the same purchasing power. 3. Nominal GDP is calculated using the current prices prevailing when the output was produced but real GDP is a figure that has been adjusted for price ...
Macro-prudential chartpack Reserve Bank of New Zealand 27-Oct-2015
... are used as a proxy for overall credit interest.co.nz spreads, and are defined using the relevant benchmark swap rate. They are computed for the 7 largest mortgage lenders and across all fixed terms. Two methods are used to aggregate data (i) simple average of spreads (ii) median of the best 5 sprea ...
... are used as a proxy for overall credit interest.co.nz spreads, and are defined using the relevant benchmark swap rate. They are computed for the 7 largest mortgage lenders and across all fixed terms. Two methods are used to aggregate data (i) simple average of spreads (ii) median of the best 5 sprea ...
Causes of Inflation in the Iranian Economy
... actual GDP has negative effect on inflation in long run in Iran. This result seems to support the conclusion of Alavi Rad (2002) that the liquidity and play a remarkable role on inflation in Iran. Finally, the results reported in this study show that with fluctuation of liquidity, actual GDP and imp ...
... actual GDP has negative effect on inflation in long run in Iran. This result seems to support the conclusion of Alavi Rad (2002) that the liquidity and play a remarkable role on inflation in Iran. Finally, the results reported in this study show that with fluctuation of liquidity, actual GDP and imp ...
Impact of Fuel Price Increaseon the Nigerian Economy
... prices. The value of minimum wage compensation will depreciate further (assuming it is finally at N18, 000) combined with the increase in inflation. At the same time, the average household’s annual spending on energy goods and services will rise by about N75, 000, and their saving rate will drop sha ...
... prices. The value of minimum wage compensation will depreciate further (assuming it is finally at N18, 000) combined with the increase in inflation. At the same time, the average household’s annual spending on energy goods and services will rise by about N75, 000, and their saving rate will drop sha ...
Money
... Inflation is a general rise in prices. The national price level rises for the same reason that prices of particular goods and services rise---namely, that there is more demanded than supplied at a given price. When people have more money, they tend to spend more. Without a corresponding increase in ...
... Inflation is a general rise in prices. The national price level rises for the same reason that prices of particular goods and services rise---namely, that there is more demanded than supplied at a given price. When people have more money, they tend to spend more. Without a corresponding increase in ...
The Two Triangles: What Did Wicksell and Keynes Know about
... mattered to Wicksell and Keynes, not because of quantity rationing, but because, as long as the market real rate of interest is at the ”wrong level”, the economy will be driven away from its intertemporal-equilibrium path in a cumulative process of changes in prices and/or output at which capital an ...
... mattered to Wicksell and Keynes, not because of quantity rationing, but because, as long as the market real rate of interest is at the ”wrong level”, the economy will be driven away from its intertemporal-equilibrium path in a cumulative process of changes in prices and/or output at which capital an ...
FRANK WILKINSON Neo-liberalism and New Labour policy
... Increasingly these problems were attributed to Keynesian fallacies and sparked amongst economists a revival of traditional liberal beliefs in monetary causes of inflation and the efficacy of unrestricted markets in maximising economic welfare – a revival labelled neo-liberalism. Neo-liberals claim t ...
... Increasingly these problems were attributed to Keynesian fallacies and sparked amongst economists a revival of traditional liberal beliefs in monetary causes of inflation and the efficacy of unrestricted markets in maximising economic welfare – a revival labelled neo-liberalism. Neo-liberals claim t ...
Britain has now paid more than half a trillion pounds to the EU
... Compounding this lack of control, the UK has a legal obligation to honour any payment request made by the EU. Under the terms of section 2(3) of the European Communities Act 1972, any amount of money 'to meet any EU obligation to make any payments' to either the EU or one of its member states must b ...
... Compounding this lack of control, the UK has a legal obligation to honour any payment request made by the EU. Under the terms of section 2(3) of the European Communities Act 1972, any amount of money 'to meet any EU obligation to make any payments' to either the EU or one of its member states must b ...
The Elusive Costs of Inflation
... aggregate price flexibility is a question of active research over the past decade. The empirical literature has emphasized that temporary sales have quite different empirical properties from those of regular prices. Sales are much more transitory than other price changes, and less responsive to macr ...
... aggregate price flexibility is a question of active research over the past decade. The empirical literature has emphasized that temporary sales have quite different empirical properties from those of regular prices. Sales are much more transitory than other price changes, and less responsive to macr ...
The IS-LM Framework for Macroeconomic Analysis
... in a new point, where a temporary equilibrium only in the goods and asset market will be established. The labor market will not be in this equilibrium and consequently firms will push the price up to return to the general equilibrium state. The question is how fast this adjustment process takes plac ...
... in a new point, where a temporary equilibrium only in the goods and asset market will be established. The labor market will not be in this equilibrium and consequently firms will push the price up to return to the general equilibrium state. The question is how fast this adjustment process takes plac ...
The Two Triangles: what did Wicksell and Keynes know about
... mattered to Wicksell and Keynes, not because of quantity rationing, but because, as long as the market real rate of interest is at the “wrong level”, the economy will be driven away from its intertemporal-equilibrium path in a cumulative process of changes in prices and/or output at which capital an ...
... mattered to Wicksell and Keynes, not because of quantity rationing, but because, as long as the market real rate of interest is at the “wrong level”, the economy will be driven away from its intertemporal-equilibrium path in a cumulative process of changes in prices and/or output at which capital an ...
The IS*LM/AD*AS Model: A General Framework for Macroeconomic
... • A temporary adverse supply shock is a movement along the IS curve, not a shift of the IS curve. • A temporary adverse supply shock has no direct effect on the demand for, or the supply of money. • But there is now excess demand in the economy which will start to put upward pressure on the price ...
... • A temporary adverse supply shock is a movement along the IS curve, not a shift of the IS curve. • A temporary adverse supply shock has no direct effect on the demand for, or the supply of money. • But there is now excess demand in the economy which will start to put upward pressure on the price ...
Working Paper 142
... shift in growth rates for some of the variables, e.g. inflation, money growth and asset price inflation, observed in the "Great Inflation" and "Great Moderation" periods which would otherwise affect the identified shocks.5 Another problem we encountered during the analysis, especially for the specif ...
... shift in growth rates for some of the variables, e.g. inflation, money growth and asset price inflation, observed in the "Great Inflation" and "Great Moderation" periods which would otherwise affect the identified shocks.5 Another problem we encountered during the analysis, especially for the specif ...