This PDF is a selection from an out-of-print volume from... of Economic Research
... In a world without money illusion a nominal exchange rate devaluation per se will not have any persistent real effects. Under various plausible circumstances, however, a devaluation may speed up adjustment of the real economy to disturbances, be they exogenous or policy induced. It is in this vein t ...
... In a world without money illusion a nominal exchange rate devaluation per se will not have any persistent real effects. Under various plausible circumstances, however, a devaluation may speed up adjustment of the real economy to disturbances, be they exogenous or policy induced. It is in this vein t ...
Document
... 29. According to the quantity theory of money, the rate of inflation equals: a. the rate of growth in the money supply. b. the rate of growth in the money supply less the rate of growth in output. c. the rate of growth in the money supply less the rate of growth in velocity. d. the rate of growth in ...
... 29. According to the quantity theory of money, the rate of inflation equals: a. the rate of growth in the money supply. b. the rate of growth in the money supply less the rate of growth in output. c. the rate of growth in the money supply less the rate of growth in velocity. d. the rate of growth in ...
OECD Labour Markets in the Great Recession
... Introductory remarks: Timings • Great Recession started with a downturn in housing markets and financial failures, sometime in late 2007 or beginning of 2008 • Although exact timing differed across countries, by the time of the Lehman collapse in September 2008 all countries of the OECD entered som ...
... Introductory remarks: Timings • Great Recession started with a downturn in housing markets and financial failures, sometime in late 2007 or beginning of 2008 • Although exact timing differed across countries, by the time of the Lehman collapse in September 2008 all countries of the OECD entered som ...
Keynes and the Classical Economists: The Early Debate on Policy
... The classical economists believed that Say’s Law and the flexibility of interest rates would ensure that spending would be adequate to maintain full employment. But some critics were unconvinced. Suppose that households chose to “hoard” some of their income. (Hoarding money is the act of hiding it o ...
... The classical economists believed that Say’s Law and the flexibility of interest rates would ensure that spending would be adequate to maintain full employment. But some critics were unconvinced. Suppose that households chose to “hoard” some of their income. (Hoarding money is the act of hiding it o ...
The first fifty years of the Government Economic Service Dave Ramsden
... same story goes on. Next Tuesday we will be saying that the trade deficit was over 100 m. in October. I very much doubt the exchanges will stand that.” Saturday, 18 November: “Der Tag. At 9.30 the statement became public and at 10.25 I saw the TV screen show a £1 note with DEVALUED printed across it ...
... same story goes on. Next Tuesday we will be saying that the trade deficit was over 100 m. in October. I very much doubt the exchanges will stand that.” Saturday, 18 November: “Der Tag. At 9.30 the statement became public and at 10.25 I saw the TV screen show a £1 note with DEVALUED printed across it ...
dynamic seigniorage theory - University of California, Berkeley
... an inflation rate with a tendency to fall over time toward the socially preferred long-run rate (zero in my model).6 The basic reason is that government budgetary conditions affect inflationary expectations, thus giving the authorities additional incentives to retire debt and thereby reduce future s ...
... an inflation rate with a tendency to fall over time toward the socially preferred long-run rate (zero in my model).6 The basic reason is that government budgetary conditions affect inflationary expectations, thus giving the authorities additional incentives to retire debt and thereby reduce future s ...
Chapter 12: Aggregate Demand and Aggregate Supply model
... The International-Trade Effect: The impact of the price level on net exports ...
... The International-Trade Effect: The impact of the price level on net exports ...
Chapter 14
... 1. Government purchases cannot go beyond both real and political limits. The real upper limit is 100 percent of GDP. No one knows what the political upper limit is, but it is likely to be substantially less than 100 percent of GDP. In either case, once government purchases reach their limit, they ca ...
... 1. Government purchases cannot go beyond both real and political limits. The real upper limit is 100 percent of GDP. No one knows what the political upper limit is, but it is likely to be substantially less than 100 percent of GDP. In either case, once government purchases reach their limit, they ca ...
departamento de economía departamento de economía
... Meanwhile, in August 1998, the Russian government announced the restructuring of its public debt (local currency), the 90-day moratorium on external debt payment, and a devaluation of the ruble. The strongest symptoms of this crisis emerged the previous year, when the country was hit by the Asian cr ...
... Meanwhile, in August 1998, the Russian government announced the restructuring of its public debt (local currency), the 90-day moratorium on external debt payment, and a devaluation of the ruble. The strongest symptoms of this crisis emerged the previous year, when the country was hit by the Asian cr ...
What Is Price Level Stability?
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
Chapter 17 - Money growth and inflation
... And available production technology (Tech) Because money is neutral ...
... And available production technology (Tech) Because money is neutral ...
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... Studies which works closely with the Department of Economics and the Institute of Business and Economic Research. CIDER is devoted to promoting research on international economic and development issues among Berkeley faculty and students, and to stimulating collaborative interactions between them an ...
... Studies which works closely with the Department of Economics and the Institute of Business and Economic Research. CIDER is devoted to promoting research on international economic and development issues among Berkeley faculty and students, and to stimulating collaborative interactions between them an ...
What Is Price Level Stability?
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
What Is Price Level Stability?
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
... inflation reduction lowers inflation but with no accompanying recession or increase in unemployment. ...
Modern macroeconomics: monetary policy
... Italy Pakistan Thailand France Australia U.S. Canada Malaysia Belgium Germany Switzerland ...
... Italy Pakistan Thailand France Australia U.S. Canada Malaysia Belgium Germany Switzerland ...
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.