Endogenous Technology Adoption and R&D as Sources of Business Cycle Persistence
... One of the great challenges for macroeconomists is explaining the slow recovery from major financial crises (see, e.g. Reinhart and Rogoff (2009)). This phenomenon is only partly accounted for by existing theories. A large literature has suggested that demand shortfalls can account for slow growth f ...
... One of the great challenges for macroeconomists is explaining the slow recovery from major financial crises (see, e.g. Reinhart and Rogoff (2009)). This phenomenon is only partly accounted for by existing theories. A large literature has suggested that demand shortfalls can account for slow growth f ...
Chapter 1: Introduction
... want to hold more liquid money balances than exist. Businesses and households go to their banks and try to borrow to boost their cash holdings. Banks respond by raising the interest rates they charge for loans. As the nominal interest rate rises, the quantity of money demanded by households and busi ...
... want to hold more liquid money balances than exist. Businesses and households go to their banks and try to borrow to boost their cash holdings. Banks respond by raising the interest rates they charge for loans. As the nominal interest rate rises, the quantity of money demanded by households and busi ...
Monetary and Fiscal Policy in a Liquidity Trap:
... expected inflation, and a weaker domestic currency in the adverse periods when the natural rate of interest significantly deviates from a normal level. This is as if a central bank “borrows” future monetary easing in the periods when current monetary easing is exhausted. This idea of borrowing futu ...
... expected inflation, and a weaker domestic currency in the adverse periods when the natural rate of interest significantly deviates from a normal level. This is as if a central bank “borrows” future monetary easing in the periods when current monetary easing is exhausted. This idea of borrowing futu ...
completing conditions to implement monetary policy under inflation
... Since 2012, inflation is basically controlled at single-digit level; however, such long-time low rate of inflation is not likely to be a pledge of the State Bank of Vietnam for price stability and rising price still remains possible hindrances at any time affecting the sustainable development of Vie ...
... Since 2012, inflation is basically controlled at single-digit level; however, such long-time low rate of inflation is not likely to be a pledge of the State Bank of Vietnam for price stability and rising price still remains possible hindrances at any time affecting the sustainable development of Vie ...
key elements of the 2015 stress test
... In the euro area, output growth slows due to a combination of international spillovers and domestic amplifications. Slower world trade results in materially lower demand for exports, a channel that acts more strongly for the euro area ‘core’ given the greater trade linkages with Asian economies. Dom ...
... In the euro area, output growth slows due to a combination of international spillovers and domestic amplifications. Slower world trade results in materially lower demand for exports, a channel that acts more strongly for the euro area ‘core’ given the greater trade linkages with Asian economies. Dom ...
Potential GDP Estimation for Romania
... featured in neoclassical models and it generally changes over relatively long time spans only as a result of significant and lasting changes in economic fundamentals. In order to be empirically identifiable, the concept of potential GDP has received various definitions in literature (for a presentat ...
... featured in neoclassical models and it generally changes over relatively long time spans only as a result of significant and lasting changes in economic fundamentals. In order to be empirically identifiable, the concept of potential GDP has received various definitions in literature (for a presentat ...
NBER WORKING PAPER SERIES DSGE MODELS FOR MONETARY POLICY ANALYSIS Mathias Trabandt
... model with price setting frictions and no capital or other complications. We then use versions of this simple model to address several important policy issues. For example, the past few decades have witnessed the emergence of a consensus that monetary policy ought to respond aggressively to changes ...
... model with price setting frictions and no capital or other complications. We then use versions of this simple model to address several important policy issues. For example, the past few decades have witnessed the emergence of a consensus that monetary policy ought to respond aggressively to changes ...
Unemployment in Namibia - The Namibian Manufacturers Association
... market, for barter or for own consumption, the production of all other goods and services for the market and, in the case of households which produce such goods and services for the market, the corresponding production for own consumption. Two useful measures of the economically active population ar ...
... market, for barter or for own consumption, the production of all other goods and services for the market and, in the case of households which produce such goods and services for the market, the corresponding production for own consumption. Two useful measures of the economically active population ar ...
Principles of Economics Third Edition by Fred Gottheil
... • A new equilibrium is obtained at a lower level of real GDP and at a higher price level. ...
... • A new equilibrium is obtained at a lower level of real GDP and at a higher price level. ...
Economics 101 Homework Assignments Spring
... supply. Based on your research, explain what might be responsible for the change in the price you have discovered. Show your reasoning on the graph below. Price of the Stock ...
... supply. Based on your research, explain what might be responsible for the change in the price you have discovered. Show your reasoning on the graph below. Price of the Stock ...
Social Structures of Accumulation, the Rate of Profit
... down to up after 1982 (see figure 1). Three long economic expansions followed, in 1982-90, 19912000, and 2001-07. In our view, the neoliberal SSA entered its crisis phase abruptly in 2008. Figure 1 shows both the relevance of the movement of the profit rate for the initiation of the crisis phase of ...
... down to up after 1982 (see figure 1). Three long economic expansions followed, in 1982-90, 19912000, and 2001-07. In our view, the neoliberal SSA entered its crisis phase abruptly in 2008. Figure 1 shows both the relevance of the movement of the profit rate for the initiation of the crisis phase of ...
Real wages, inflation and labour productivity in Australia
... Dam, floated the Australian dollar (1983), reformed the tax system, amalgamated the Australian state-specific stock exchanges into one Australian Stock Exchange (1987), and fought through the mid-1980s terms of trade problems and the late 1980s recession with high interest rates. The Labour governme ...
... Dam, floated the Australian dollar (1983), reformed the tax system, amalgamated the Australian state-specific stock exchanges into one Australian Stock Exchange (1987), and fought through the mid-1980s terms of trade problems and the late 1980s recession with high interest rates. The Labour governme ...
15.1 the consumer price index
... Suppose that the UAW and GM sign a 3 year wage deal: In the first year, the wage will be $30 an hour and will rise by the inflation rate in the next two years. If the inflation rate is 5 percent a year, the wage rises to $31.50 an hour in the second year and $33.08 an hour in the third year. But if ...
... Suppose that the UAW and GM sign a 3 year wage deal: In the first year, the wage will be $30 an hour and will rise by the inflation rate in the next two years. If the inflation rate is 5 percent a year, the wage rises to $31.50 an hour in the second year and $33.08 an hour in the third year. But if ...
Incomplete Exchange Rate Pass-Through and Simple - S
... the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly the exchange rate) from their zero targets.9 Equation (7a), setting ρ = 0, is the simple rule suggested by Ta ...
... the degree of interest rate persistence. The policy maker sets the interest rate as a linear function of the lagged interest rate and the deviations of CPI inflation and output (and possibly the exchange rate) from their zero targets.9 Equation (7a), setting ρ = 0, is the simple rule suggested by Ta ...
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.