slides
... Nominal GDP Targeting: Practice • Unanticipated shifts in potential output growth translate into persistent deviations of inflation from desired target • Policy should be symmetric (example: what would PLT or NGDP targeting imply for the UK today?) • Relies on credible commitment to not let “bygone ...
... Nominal GDP Targeting: Practice • Unanticipated shifts in potential output growth translate into persistent deviations of inflation from desired target • Policy should be symmetric (example: what would PLT or NGDP targeting imply for the UK today?) • Relies on credible commitment to not let “bygone ...
‘The Empirical Implications of the Interest-Rate Lower Bound’ Gust, Lopez-Salido and Smith Discussion
... Great Recession was triggered and prolonged by extremely unlikely sequence of negative discount rate, TFP shocks. Key force triggering the ZLB epsiode during 2008- 2009: a sequence of discount rate shocks. Productivity shocks played relatively larger role in slow output growth from 2009 on. Large, p ...
... Great Recession was triggered and prolonged by extremely unlikely sequence of negative discount rate, TFP shocks. Key force triggering the ZLB epsiode during 2008- 2009: a sequence of discount rate shocks. Productivity shocks played relatively larger role in slow output growth from 2009 on. Large, p ...
Economic Measurements – Unit 2
... 2.7 Measuring Employment, Inflation and GDP Changes The 1930s were marked by periods of chronically high unemployment in the United States. After World War II, Congress passed the Employment Act of 1946, which stated that it was the policy and responsibility of the federal government to use all prac ...
... 2.7 Measuring Employment, Inflation and GDP Changes The 1930s were marked by periods of chronically high unemployment in the United States. After World War II, Congress passed the Employment Act of 1946, which stated that it was the policy and responsibility of the federal government to use all prac ...
Preview Sample 2
... of a business cycle expansion and then falls during a recession. The unemployment rate declines during the latter part of an expansion and increases during a recession. The unemployment rate often continues to increase even after an expansion has begun. Economists have not found a method to predict ...
... of a business cycle expansion and then falls during a recession. The unemployment rate declines during the latter part of an expansion and increases during a recession. The unemployment rate often continues to increase even after an expansion has begun. Economists have not found a method to predict ...
ECON 201 10074 - Western New Mexico University
... 7. Be familiar with the structure and activities of the Federal Reserve System. 8. Propose and forecast the impact of alternative monetary policies used by the Federal Reserve in pursuit of low inflation and economic growth. 9. Describe the impact of expansion of trade, interpret balance of payments ...
... 7. Be familiar with the structure and activities of the Federal Reserve System. 8. Propose and forecast the impact of alternative monetary policies used by the Federal Reserve in pursuit of low inflation and economic growth. 9. Describe the impact of expansion of trade, interpret balance of payments ...
Full class notes
... Proportion of income spend on this good: Greater the proportion more elastic Availability of Substitute: More substitutes Elastic demand Importance of the Good: Greater importance Inelastic Delay- How long can you put off the purchase: Longer delay elastic ...
... Proportion of income spend on this good: Greater the proportion more elastic Availability of Substitute: More substitutes Elastic demand Importance of the Good: Greater importance Inelastic Delay- How long can you put off the purchase: Longer delay elastic ...
According to estimates from MassBenchmarks, Massachusetts real gross domestic product
... years productivity growth has been faster. As measured by GDP to payroll employment, real output per worker rose from $100,800 in 2001 to $120,300 in 2012.7 Relative to New England as a whole, this productivity measure for Boston was 9.7% higher in 2001, and 13.6% higher by 2012. Boston’s higher rat ...
... years productivity growth has been faster. As measured by GDP to payroll employment, real output per worker rose from $100,800 in 2001 to $120,300 in 2012.7 Relative to New England as a whole, this productivity measure for Boston was 9.7% higher in 2001, and 13.6% higher by 2012. Boston’s higher rat ...
The Quantity Theory of Money
... Example of Crude QTOM If the money supply is increased by 15% (remembering level of GDP assumed to be fixed), this will mean that there is MORE money in circulation chasing the same quantity of goods. This in turn bids up prices as the purchasing power of each dollar falls. The end result will ...
... Example of Crude QTOM If the money supply is increased by 15% (remembering level of GDP assumed to be fixed), this will mean that there is MORE money in circulation chasing the same quantity of goods. This in turn bids up prices as the purchasing power of each dollar falls. The end result will ...
practice 32 - Brunswick City Schools
... A. assumes that the economy moves from E1 to E3 and ignores E2; thus, only inflation increases but real GDP remains the same. B. assumes that the economy moves from E2 to E3 and ignores E1; thus, only real GDP increases but inflation remains the same. C. assumes that the economy moves from E2 to E3; ...
... A. assumes that the economy moves from E1 to E3 and ignores E2; thus, only inflation increases but real GDP remains the same. B. assumes that the economy moves from E2 to E3 and ignores E1; thus, only real GDP increases but inflation remains the same. C. assumes that the economy moves from E2 to E3; ...
This PDF is a selection from a published volume from... Economic Research Volume Title: NBER International Seminar on Macroeconom
... Indeed, a striking development during the past decade has been the active use of well‐timed discretionary countercyclical fiscal policy in many countries. Japan aggressively used fiscal policy with the goal of stimulating the economy during the 1990s and the current recession. Auerbach (2009) docume ...
... Indeed, a striking development during the past decade has been the active use of well‐timed discretionary countercyclical fiscal policy in many countries. Japan aggressively used fiscal policy with the goal of stimulating the economy during the 1990s and the current recession. Auerbach (2009) docume ...
Money
... In the early 1990s, Mexico was an attractive place for foreign investment: ◦ Mexican interest rates were high promise of higher returns on investment ◦ Mexican Central Bank maintained and had committed to a fixed exchange rate against the dollar ◦ This made returns from foreign investment very sta ...
... In the early 1990s, Mexico was an attractive place for foreign investment: ◦ Mexican interest rates were high promise of higher returns on investment ◦ Mexican Central Bank maintained and had committed to a fixed exchange rate against the dollar ◦ This made returns from foreign investment very sta ...
On Democratizing Financial Turmoil: A Minskian Analysis of the
... homeownership rate reached a record 69.2% in the second quarter of 2004. The number of homeowners in the United States reached 73.4 million, the most ever. And for the first time, the majority of minority Americans own their own homes” (The White House 2004: 44). Unfortunately, the short-lived incre ...
... homeownership rate reached a record 69.2% in the second quarter of 2004. The number of homeowners in the United States reached 73.4 million, the most ever. And for the first time, the majority of minority Americans own their own homes” (The White House 2004: 44). Unfortunately, the short-lived incre ...
Answers to Second Midterm (version 2)
... a. Lower steady-state levels of output per worker. b. Lower steady-state growth rates of output per worker. 4. If inflation falls from 6 percent to 4 percent and nothing else changes, then, according to the Fisher effect a. The real interest rate falls by 2 percent and the nominal interest rate rema ...
... a. Lower steady-state levels of output per worker. b. Lower steady-state growth rates of output per worker. 4. If inflation falls from 6 percent to 4 percent and nothing else changes, then, according to the Fisher effect a. The real interest rate falls by 2 percent and the nominal interest rate rema ...
Failing on Two Fronts: The U.S. Labor Market Since 2000
... increasing in the United States. For a portion of this period, the United States could console itself, in part, by celebrating its success as a “jobs machine.” Indeed, the two issues were often linked in the standard economics account of the post-Reagan era: widening wage inequality rewarded the ski ...
... increasing in the United States. For a portion of this period, the United States could console itself, in part, by celebrating its success as a “jobs machine.” Indeed, the two issues were often linked in the standard economics account of the post-Reagan era: widening wage inequality rewarded the ski ...
PRESS RELEASE SUMMARY OF THE MONETARY POLICY COMMITTEE MEETING No: 2015-06
... by energy and food prices, yet inflation lost pace in almost all sub-groups. The decline in energy prices continued at a stronger pace in line with the international oil prices. The decline in the underlying trend in inflation got more apparent in services, but remained relatively limited in core go ...
... by energy and food prices, yet inflation lost pace in almost all sub-groups. The decline in energy prices continued at a stronger pace in line with the international oil prices. The decline in the underlying trend in inflation got more apparent in services, but remained relatively limited in core go ...
chapter 12 questions
... a. The U.S. Treasury does not have to pay off these bonds. b. These bonds were not issued by the Treasury. c. These bonds do not represent a net-interest obligation of the government. d. These bonds are not interest-bearing bonds. In 2003, the privately held federal debt was approximately what perce ...
... a. The U.S. Treasury does not have to pay off these bonds. b. These bonds were not issued by the Treasury. c. These bonds do not represent a net-interest obligation of the government. d. These bonds are not interest-bearing bonds. In 2003, the privately held federal debt was approximately what perce ...
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.