NBER WORKING PAPER SERIES MODIGLIANIESQUE MACRO MODELS Stanley Fischer Working Paper No. 1797
... (1969). With q normally inversely related to r, an open market purchase that reduces the interest rate then increases aggregate demand both through a wealth effect on Consumption demand and a cost of capital effect on investment (Modigliani, 1971). However, as Tobin shows, the inclusion of q does no ...
... (1969). With q normally inversely related to r, an open market purchase that reduces the interest rate then increases aggregate demand both through a wealth effect on Consumption demand and a cost of capital effect on investment (Modigliani, 1971). However, as Tobin shows, the inclusion of q does no ...
View/Open
... where k and d denote contribution to the annual growth of credits and deposits, and crisis is a dummy variable for the period of the financial crisis (September 2008 to May 2012). We estimate this relationship for total credits, as well as for credits to non-financial corporations and households. Al ...
... where k and d denote contribution to the annual growth of credits and deposits, and crisis is a dummy variable for the period of the financial crisis (September 2008 to May 2012). We estimate this relationship for total credits, as well as for credits to non-financial corporations and households. Al ...
Tara Inc. - Duke University`s Fuqua School of Business
... Tara – A Buddhist savior-goddess with numerous forms, widely popular in Nepal and Tibet. ...
... Tara – A Buddhist savior-goddess with numerous forms, widely popular in Nepal and Tibet. ...
AGGREGATE DEMAND AND AGGREGATE SUPPLY The
... b) Unemployment is increasing and it is higher than the natural rate of unemployment c) Investments are typically more volatile than GDP. Thus, in a recession the decline in investements is typically higher than the decline in GDP meaning that compared with the long-run average capital has to be use ...
... b) Unemployment is increasing and it is higher than the natural rate of unemployment c) Investments are typically more volatile than GDP. Thus, in a recession the decline in investements is typically higher than the decline in GDP meaning that compared with the long-run average capital has to be use ...
Mankiw 5/e Chapter 13: Aggregate Supply
... In contrast to the sticky-wage model, the stickyprice model implies a pro-cyclical real wage: Suppose aggregate output/income falls. Then, Firms see a fall in demand for their products. Firms with sticky prices reduce production, and hence reduce their demand for labor. The leftward shift in l ...
... In contrast to the sticky-wage model, the stickyprice model implies a pro-cyclical real wage: Suppose aggregate output/income falls. Then, Firms see a fall in demand for their products. Firms with sticky prices reduce production, and hence reduce their demand for labor. The leftward shift in l ...
CronovichChap_13
... In contrast to the sticky-wage model, the stickyprice model implies a pro-cyclical real wage: Suppose aggregate output/income falls. Then, Firms see a fall in demand for their products. Firms with sticky prices reduce production, and hence reduce their demand for labor. The leftward shift in l ...
... In contrast to the sticky-wage model, the stickyprice model implies a pro-cyclical real wage: Suppose aggregate output/income falls. Then, Firms see a fall in demand for their products. Firms with sticky prices reduce production, and hence reduce their demand for labor. The leftward shift in l ...
the optimal path of monetary expansion
... CDC's would be sold to the public and their proceeds be invested in CD's throughout the banking system, CDC’s would provide the lowest degree of financial risk in an interest-free economy, since each carries with it a title to a more diversified investment portfolio than any member bank by itsel ...
... CDC's would be sold to the public and their proceeds be invested in CD's throughout the banking system, CDC’s would provide the lowest degree of financial risk in an interest-free economy, since each carries with it a title to a more diversified investment portfolio than any member bank by itsel ...
Macro Economics - e
... (iv) Increase in population : An increase in population, too, causes excess aggregate demand for goods and services over limited aggregate supply and thus a cause of demand pull inflation. (v) Black Money : A parallel economy of black money is one of the most important factors to increase aggregate ...
... (iv) Increase in population : An increase in population, too, causes excess aggregate demand for goods and services over limited aggregate supply and thus a cause of demand pull inflation. (v) Black Money : A parallel economy of black money is one of the most important factors to increase aggregate ...
Causes of Inflation in the Iranian Economy
... oil price and the quantity of oil exports increasing, the rates of inflation rose sharply and exhibited large fluctuations. The annual average rate of the GDP deflator and CPI inflation was 22.9 and 14.7 percent, respectively, during the period 1973-1978. A spike for the GDP deflator inflation appea ...
... oil price and the quantity of oil exports increasing, the rates of inflation rose sharply and exhibited large fluctuations. The annual average rate of the GDP deflator and CPI inflation was 22.9 and 14.7 percent, respectively, during the period 1973-1978. A spike for the GDP deflator inflation appea ...
Federal Reserve and Monetary Policy
... during an economic recovery. One key to understanding this phenomenon is that the extra income being generated by firms and individuals during the recovery will increase the demand for money. Because the demand for money increases while the supply of money remains fixed, interest rates rise. •Anothe ...
... during an economic recovery. One key to understanding this phenomenon is that the extra income being generated by firms and individuals during the recovery will increase the demand for money. Because the demand for money increases while the supply of money remains fixed, interest rates rise. •Anothe ...
Economics: Principles and Applications, 2e by Robert E. Hall & Marc
... Joblessness arising from mismatches between workers’ skills and employers’ requirements or between workers’ locations and employers’ locations. ...
... Joblessness arising from mismatches between workers’ skills and employers’ requirements or between workers’ locations and employers’ locations. ...
lecture notes
... 3. Money market mutual fund balances, which can be redeemed by phone calls, checks, or through the Internet. C. Money Definition: M3 = M2 + large certificates of deposit (time accounts) $100,000 or more (See Table 13-1) D. Which definitions are used? M1 will be used in this text, but M2 is watched c ...
... 3. Money market mutual fund balances, which can be redeemed by phone calls, checks, or through the Internet. C. Money Definition: M3 = M2 + large certificates of deposit (time accounts) $100,000 or more (See Table 13-1) D. Which definitions are used? M1 will be used in this text, but M2 is watched c ...
Mankiw 5/e Chapter 1: The Science of Macroeconomics
... …is negative: A tax increase reduces C, which reduces income. …is greater than one (in absolute value): A change in taxes has a multiplier effect on income. …is smaller than the govt spending multiplier: Consumers save the fraction (1 – MPC) of a tax cut, so the initial boost in spending from a tax ...
... …is negative: A tax increase reduces C, which reduces income. …is greater than one (in absolute value): A change in taxes has a multiplier effect on income. …is smaller than the govt spending multiplier: Consumers save the fraction (1 – MPC) of a tax cut, so the initial boost in spending from a tax ...
Principles of Macroeconomics, Case/Fair/Oster, 10e
... the trough to the peak. When the economy moves from a peak down to a trough, through point B, the economy is in recession. ...
... the trough to the peak. When the economy moves from a peak down to a trough, through point B, the economy is in recession. ...
CHAPTER 7 Wage and Price Adjustment: The Phillips Curve and
... Accomplishing the Objectives This chapter begins with a discussion of the Phillips curve, which shows an empirical inverse relationship between the unemployment rate and increases in the nominal wage rate. This relationship can be expanded into a relationship between inflation and unemployment, whi ...
... Accomplishing the Objectives This chapter begins with a discussion of the Phillips curve, which shows an empirical inverse relationship between the unemployment rate and increases in the nominal wage rate. This relationship can be expanded into a relationship between inflation and unemployment, whi ...
(2008-2015Q2) (Comparison With Great Depression)
... Source: Bureau of Economic Analysis (BEA), Bureau of Labor Statistics (BLS), Federal Reserve Bank of Saint Louis (FRED) database. ...
... Source: Bureau of Economic Analysis (BEA), Bureau of Labor Statistics (BLS), Federal Reserve Bank of Saint Louis (FRED) database. ...
Impacts of the Financial Tsunami on the Hong Kong Economy
... especially in trade • Interest rates hold stable or move down • US$ to reverse trend • Infrastructure projects can speed up ...
... especially in trade • Interest rates hold stable or move down • US$ to reverse trend • Infrastructure projects can speed up ...
Mark scheme - Unit F585 - The global economy - June
... Level qualifications, NVQs and vocational qualifications in areas such as IT, business, languages, teaching/training, administration and secretarial skills. It is also responsible for developing new specifications to meet national requirements and the needs of students and teachers. OCR is a not-for ...
... Level qualifications, NVQs and vocational qualifications in areas such as IT, business, languages, teaching/training, administration and secretarial skills. It is also responsible for developing new specifications to meet national requirements and the needs of students and teachers. OCR is a not-for ...
A Forecast assumptions
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
... On 12 June 2009 in the first reading as part of the amendment of the Value Added Tax Act, the Chamber of Deputies approved the transfer of select services to a lower VAT rate. These are services with a high labour content, e.g. restaurant services, hairdressing, and bicycle, clothing and upholstery ...
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.