NBER WORKING PAPER SERIES DEPRESSION Peter F. Basile
... Britain was a much milder affair than in the United States, both in terms of financial markets and real outcomes (Capie 1990). It would have been odd to attribute a condition that we associate with depression and nonfunctioning capital markets to an economy that experienced a mild shock and showed r ...
... Britain was a much milder affair than in the United States, both in terms of financial markets and real outcomes (Capie 1990). It would have been odd to attribute a condition that we associate with depression and nonfunctioning capital markets to an economy that experienced a mild shock and showed r ...
Increasing mortality during the expansions of the US economy, 1900
... (Table 1), suggesting that the results are robust to the business cycle indicator used. The identity of signs, and even the similarity of the values of the correlations for each pair of variables in rates of change (rc) and deviation from trend (rd) is strong evidence that these models are showing a ...
... (Table 1), suggesting that the results are robust to the business cycle indicator used. The identity of signs, and even the similarity of the values of the correlations for each pair of variables in rates of change (rc) and deviation from trend (rd) is strong evidence that these models are showing a ...
NBER WORKING PAPER SERIES DOMESTIC AND FOREIGN DISTURBANCES IN AN OPTIMIZING
... where g denotes real government expenditure and all other variables are defined above. This equation asserts that total real expenditures, including interest payments, less the lump sum tax and 'inflation tax' revenues, must be financed either through printing money or by issuing bonds. The rate of ...
... where g denotes real government expenditure and all other variables are defined above. This equation asserts that total real expenditures, including interest payments, less the lump sum tax and 'inflation tax' revenues, must be financed either through printing money or by issuing bonds. The rate of ...
This PDF is a selection from a published volume from
... The descriptive analysis above suggests that output variables, aggregate price indexes, and the federal funds rate exhibit a higher than average degree of commonality: more than 70% of the variance of these variables can be explained by a projection on two aggregates.4 This in turn suggests that a m ...
... The descriptive analysis above suggests that output variables, aggregate price indexes, and the federal funds rate exhibit a higher than average degree of commonality: more than 70% of the variance of these variables can be explained by a projection on two aggregates.4 This in turn suggests that a m ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... supply curve holds that at any given moment, the economy has a clearly defined capacity, or maximum, output. With planned aggregate expenditure of AE1 and aggregate demand of AD1, equilibrium output is Y1. A shift of planned aggregate expenditure to AE2, corresponding to a shift of the AD curve to A ...
... supply curve holds that at any given moment, the economy has a clearly defined capacity, or maximum, output. With planned aggregate expenditure of AE1 and aggregate demand of AD1, equilibrium output is Y1. A shift of planned aggregate expenditure to AE2, corresponding to a shift of the AD curve to A ...
Document
... Large govt budget deficits led to the creation of large quantities of money and high inflation rates. ...
... Large govt budget deficits led to the creation of large quantities of money and high inflation rates. ...
NBER WORKING PAPER SERIES DO CAPITAL ADEQUACY REQUIREMENTS MATTER FOR MONETARY POLICY?
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
g - Weebly
... Large govt budget deficits led to the creation of large quantities of money and high inflation rates. ...
... Large govt budget deficits led to the creation of large quantities of money and high inflation rates. ...
McKinnon`s Complementarity Hypothesis: Empirical Evidence for the
... discourages savings and hence reduces the availability of loanable funds, constrains investment, and in turn lowers the rate of economic growth. On the contrary, an increase in the real interest rate may induce the savers to save more, which will enable more investment to take place and which would ...
... discourages savings and hence reduces the availability of loanable funds, constrains investment, and in turn lowers the rate of economic growth. On the contrary, an increase in the real interest rate may induce the savers to save more, which will enable more investment to take place and which would ...
Topic 5 Money & Investment
... focus on the investment decision so we need to focus on capital in isolation ...
... focus on the investment decision so we need to focus on capital in isolation ...
Loanable funds theory
... be used to explain movements in the general level of interest rates of a particular country Can be used to explain why interest rates among debt securities of a given country vary ...
... be used to explain movements in the general level of interest rates of a particular country Can be used to explain why interest rates among debt securities of a given country vary ...
MARXIAN CRISIS THEORY AND THE POSTWAR U. S. ECONOMY
... the productivity of labor. This positive effect of new technology and higher productivity on the profit produced per worker is also reinforced by other ways to increase the profit per worker, such as wages cuts and increases in the intensity of labor, discussed above. However, Marxian theory argues ...
... the productivity of labor. This positive effect of new technology and higher productivity on the profit produced per worker is also reinforced by other ways to increase the profit per worker, such as wages cuts and increases in the intensity of labor, discussed above. However, Marxian theory argues ...
chapter summary
... The opportunity cost of holding money is the higher interest forgone by not holding other financial assets instead. Along a given money demand curve, the quantity of money demanded relates inversely to the interest rate. The demand for money curve shifts rightward as a result of an increase in the p ...
... The opportunity cost of holding money is the higher interest forgone by not holding other financial assets instead. Along a given money demand curve, the quantity of money demanded relates inversely to the interest rate. The demand for money curve shifts rightward as a result of an increase in the p ...
dees mmi08 6664950 en
... must also be sufficiently correlated with the target variables, an undiscriminating use of lagged variables might not help identification, or could do so only in a marginal sense, thus leading to the so called weak instrument problem. Secondly, the NKPC is usually derived from a dynamic stochastic gen ...
... must also be sufficiently correlated with the target variables, an undiscriminating use of lagged variables might not help identification, or could do so only in a marginal sense, thus leading to the so called weak instrument problem. Secondly, the NKPC is usually derived from a dynamic stochastic gen ...
Chapter 2
... Because government services are not sold in markets, (a) they are excluded from measurements of GDP. (b) the government tries to estimate their market value and uses this to measure the government’s contribution to GDP. (c) they are valued at their cost of production. (d) taxes are used to value the ...
... Because government services are not sold in markets, (a) they are excluded from measurements of GDP. (b) the government tries to estimate their market value and uses this to measure the government’s contribution to GDP. (c) they are valued at their cost of production. (d) taxes are used to value the ...
Juraj Dobrila University of Pula
... richest and poor countries reflects the differences that have been observed in the rates of economic growth. “Productivity isn’t everything, but in the long run it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise it ...
... richest and poor countries reflects the differences that have been observed in the rates of economic growth. “Productivity isn’t everything, but in the long run it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise it ...
National Economic Collapse and Revival, The Case of Zimbabwe
... Inflation is the process were by a currency loses its value due to many factors that include for example; a increase in demand for products and extreme printing of money by central banks. (Andrew B. Abel, Inflation, 2008) It can also be described as a sustained increase in the general price levels i ...
... Inflation is the process were by a currency loses its value due to many factors that include for example; a increase in demand for products and extreme printing of money by central banks. (Andrew B. Abel, Inflation, 2008) It can also be described as a sustained increase in the general price levels i ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... This view has been debunked by Posen (1998) and Kuttner and Posen (2001). They show that several “expansion” programs failed because they were not really expansions—they consisted mainly of normal expenditures. There were large fiscal deficits, but these mainly reflected revenue losses caused by the ...
... This view has been debunked by Posen (1998) and Kuttner and Posen (2001). They show that several “expansion” programs failed because they were not really expansions—they consisted mainly of normal expenditures. There were large fiscal deficits, but these mainly reflected revenue losses caused by the ...
original article in English
... This last point would be key to the likelihood of future stagflation scenarios throughout the world. Along these lines, Taylor (2010) posits that after the Great Recession, monetary policy, mainly in the developed countries, would appear to have deviated from the rules that prevailed in the Great Mo ...
... This last point would be key to the likelihood of future stagflation scenarios throughout the world. Along these lines, Taylor (2010) posits that after the Great Recession, monetary policy, mainly in the developed countries, would appear to have deviated from the rules that prevailed in the Great Mo ...
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.