test #1 production possibilities / growth / circular flow
... a) a sports star who is not playing during the off-season b) a recent graduate looking for her first job c) a teenager looking for a part-time job in a fast-food restaurant d) a worker who is unemployed because his skills are obsolete e) a woman re-entering the job market after her child begins elem ...
... a) a sports star who is not playing during the off-season b) a recent graduate looking for her first job c) a teenager looking for a part-time job in a fast-food restaurant d) a worker who is unemployed because his skills are obsolete e) a woman re-entering the job market after her child begins elem ...
NBER WORKING PAPER SERIES RULE-OF-THUMB CONSUMERS AND THE Jordi Galí
... has been argued that simple interest rate rules can approximate well the performance of complex optimal rules in a variety of environments,1 those rules have also been shown to contain the seeds of unnecessary instability when improperly designed.2 A sufficiently strong feedback from endogenous target ...
... has been argued that simple interest rate rules can approximate well the performance of complex optimal rules in a variety of environments,1 those rules have also been shown to contain the seeds of unnecessary instability when improperly designed.2 A sufficiently strong feedback from endogenous target ...
The Optimal Use of Public-Good Spending for Macroeconomic
... the single market for services is both a product market and a labor market. The services are purchased by other households, who consume the services, and by the government, which provides these services as a public good. Because of matching frictions, households can only sell a fraction of their po ...
... the single market for services is both a product market and a labor market. The services are purchased by other households, who consume the services, and by the government, which provides these services as a public good. Because of matching frictions, households can only sell a fraction of their po ...
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... For understanding the causes and consequences of international trade, recent research has increasingly focused on individual …rms. While this research emphasizes reallocations of resources across heterogeneous …rms, it typically assumes frictionless labor markets in which all workers are fully emplo ...
... For understanding the causes and consequences of international trade, recent research has increasingly focused on individual …rms. While this research emphasizes reallocations of resources across heterogeneous …rms, it typically assumes frictionless labor markets in which all workers are fully emplo ...
NBER WORKING PAPER SERIES TRADE AND LABOR MARKET OUTCOMES Elhanan Helpman Oleg Itskhoki
... For understanding the causes and consequences of international trade, recent research has increasingly focused on individual …rms. While this research emphasizes reallocations of resources across heterogeneous …rms, it typically assumes frictionless labor markets in which all workers are fully emplo ...
... For understanding the causes and consequences of international trade, recent research has increasingly focused on individual …rms. While this research emphasizes reallocations of resources across heterogeneous …rms, it typically assumes frictionless labor markets in which all workers are fully emplo ...
Empirical Analysis of Policy Interventions
... We also compute an ex-post version of the metric, which reports whether the choices actually taken affected macro variables in ways that are consistent with historical effects. We illustrate the approach in a small model of the U.S. economy that identifies monetary policy behavior. We assess the est ...
... We also compute an ex-post version of the metric, which reports whether the choices actually taken affected macro variables in ways that are consistent with historical effects. We illustrate the approach in a small model of the U.S. economy that identifies monetary policy behavior. We assess the est ...
Some Monetary Facts
... Congress changed those purposes somewhat with the Employment Act of 1946 and the Full Employment and Balanced Growth Act of 1978. In these acts, Congress instructed the Federal Reserve to “maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potenti ...
... Congress changed those purposes somewhat with the Employment Act of 1946 and the Full Employment and Balanced Growth Act of 1978. In these acts, Congress instructed the Federal Reserve to “maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potenti ...
Understanding the Flattening Phillips Curve
... In recent years, inflation appears to have become less responsive to fluctuations in output and unemployment – that is, the Phillips curve has become ‘flatter’. This has been documented for the United States by Roberts (2006), among others, and a similar phenomenon seems to have occurred in other co ...
... In recent years, inflation appears to have become less responsive to fluctuations in output and unemployment – that is, the Phillips curve has become ‘flatter’. This has been documented for the United States by Roberts (2006), among others, and a similar phenomenon seems to have occurred in other co ...
A Literature Overview of the Central Bank’s Knowledge Transparency M. Haluk GÜLER
... economy reduce the potential output below the socially optimal level. In this framework, the assumed timing of events implies that the central bank is in some way able to respond flexibly to disturbances in the economy since the public is unable to change its economic actions in the short term. Hen ...
... economy reduce the potential output below the socially optimal level. In this framework, the assumed timing of events implies that the central bank is in some way able to respond flexibly to disturbances in the economy since the public is unable to change its economic actions in the short term. Hen ...
I Changes in Business Cycles: Evidence and Explanations Christina D. Romer
... reported declines stemmed from melding the pre-World War I and the interwar eras into a single pre-World War II period. However, all of the traditional pre-World War I extensions of the modern macroeconomic indicators show a decline in the standard deviation of percentage changes of 50 percent or mo ...
... reported declines stemmed from melding the pre-World War I and the interwar eras into a single pre-World War II period. However, all of the traditional pre-World War I extensions of the modern macroeconomic indicators show a decline in the standard deviation of percentage changes of 50 percent or mo ...
NBER WORKING PAPER SERIES EMPIRICAL ANALYSIS OF POLICY INTERVENTIONS Eric M. Leeper
... We also compute an ex-post version of the metric, which reports whether the choices actually taken affected macro variables in ways that are consistent with historical effects. We illustrate the approach in a small model of the U.S. economy that identifies monetary policy behavior. We assess the est ...
... We also compute an ex-post version of the metric, which reports whether the choices actually taken affected macro variables in ways that are consistent with historical effects. We illustrate the approach in a small model of the U.S. economy that identifies monetary policy behavior. We assess the est ...
The role of the natural rate of interest in monetary policy
... The notion of the natural rate has evolved over time. Wicksell described the natural rate in several ways. Specifically, he defined the natural rate as (1) the rate of interest that equates saving with investment; (2) the marginal productivity of capital; and (3) the rate of interest that is consis ...
... The notion of the natural rate has evolved over time. Wicksell described the natural rate in several ways. Specifically, he defined the natural rate as (1) the rate of interest that equates saving with investment; (2) the marginal productivity of capital; and (3) the rate of interest that is consis ...
FINALTERM EXAMINATION Fall 2009 ECO401
... ► A conductor of economic activity, a medium of exchange, and a store of value. ► A medium of exchange, a store of value, and a factor of production. ► A store of value, a medium of exchange, and a determinant of investment. ► A store of value, a unit of account, and a medium of exchange. Question N ...
... ► A conductor of economic activity, a medium of exchange, and a store of value. ► A medium of exchange, a store of value, and a factor of production. ► A store of value, a medium of exchange, and a determinant of investment. ► A store of value, a unit of account, and a medium of exchange. Question N ...
If the total surplus in a market with no government
... B. it is impossible to completely fulfill the unlimited human desire for goods and services with the limited resources available.* C. at the current market price, consumers are willing to purchase more of a good than suppliers are willing to produce. D. consumers are too poor to afford the goods and ...
... B. it is impossible to completely fulfill the unlimited human desire for goods and services with the limited resources available.* C. at the current market price, consumers are willing to purchase more of a good than suppliers are willing to produce. D. consumers are too poor to afford the goods and ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... and supply shocks are treated as Wold-causally prior to the third shock). We considered several candidates for x, and found logged government current expenditure (in second differences) to be suitable. In this case we found that the long-run trade-off was marginally insignificant, giving rise to a c ...
... and supply shocks are treated as Wold-causally prior to the third shock). We considered several candidates for x, and found logged government current expenditure (in second differences) to be suitable. In this case we found that the long-run trade-off was marginally insignificant, giving rise to a c ...
Early 1980s recession
The early 1980s recession describes the severe global economic recession affecting much of the developed world in the late 1970s and early 1980s. The United States and Japan exited the recession relatively early, but high unemployment would continue to affect other OECD nations through to at least 1985. Long-term effects of the recession contributed to the Latin American debt crisis, the savings and loans crisis in the United States, and a general adoption of neoliberal economic policies throughout the 1980s and 1990s.