Do We Have a “New” Macroeconomy?
... calculating artillery trajectories. The next generation were used not to make sophisticated but to make the extremely simple calculations needed by the Census Department and by the human resource departments of large corporations. The next generation of computers were used to stuff data into and pul ...
... calculating artillery trajectories. The next generation were used not to make sophisticated but to make the extremely simple calculations needed by the Census Department and by the human resource departments of large corporations. The next generation of computers were used to stuff data into and pul ...
INFLATION Inflation is defined as the steady and persistent rise in
... households worse off. In times of inflation, producers find difficulty in keeping up with taxation changes. Impact of inflation of employment If wages are permitted to rise every time there is a rise in the general level of prices (the wage price spiral is operating), those who remain in work will e ...
... households worse off. In times of inflation, producers find difficulty in keeping up with taxation changes. Impact of inflation of employment If wages are permitted to rise every time there is a rise in the general level of prices (the wage price spiral is operating), those who remain in work will e ...
Bank of England Inflation Report August 2014 Output and supply
... is considerable uncertainty about how well this proxy measure captures the medium-term equilibrium unemployment rate. See the box on pages 28–29 of the August 2013 Report for more details. (d) Staff estimate. The swathe around the central staff estimate of the natural rate reflects uncertainty about ...
... is considerable uncertainty about how well this proxy measure captures the medium-term equilibrium unemployment rate. See the box on pages 28–29 of the August 2013 Report for more details. (d) Staff estimate. The swathe around the central staff estimate of the natural rate reflects uncertainty about ...
Ch 11 The measurement of macroeconomic
... • A persistent rise in prices in an economy over a period of time • Now measured by the HICP (CPI) • Inflation does not fall – it slows down or speeds up! (If inflation in 2003 was 3% and in 2004 ends up being 2% it still means prices have risen by an average of 2% over the last year!) • A fall in t ...
... • A persistent rise in prices in an economy over a period of time • Now measured by the HICP (CPI) • Inflation does not fall – it slows down or speeds up! (If inflation in 2003 was 3% and in 2004 ends up being 2% it still means prices have risen by an average of 2% over the last year!) • A fall in t ...
MV=PQ I
... If M had risen at the rate of 2.5% over the period 1983—2008 and P had risen at the rate of 0.60%, the current CPI would be 115.0 instead of 216. That is, prices in general would’ve been only 15% higher than they were in 1983. ...
... If M had risen at the rate of 2.5% over the period 1983—2008 and P had risen at the rate of 0.60%, the current CPI would be 115.0 instead of 216. That is, prices in general would’ve been only 15% higher than they were in 1983. ...
Economics Department, SJSU - San Jose State University
... Economics is a social science, which covers the actions of individuals and groups of individuals in the processes of producing, exchanging, and consuming goods and services. It is divided into two major branches: macroeconomics (Econ. 1A) and microeconomics (Econ. 1B). Macroeconomics is the study of ...
... Economics is a social science, which covers the actions of individuals and groups of individuals in the processes of producing, exchanging, and consuming goods and services. It is divided into two major branches: macroeconomics (Econ. 1A) and microeconomics (Econ. 1B). Macroeconomics is the study of ...
Monetary Policy and Interest Rates
... However, one does not have to wait until a Treasury bond matures to get one’s money back. If I buy a bond from the Treasury today, I can sell it on the bond market next week. But there is a catch: the price I sell it for will likely to be higher or lower than the price I bought it for. The bond mark ...
... However, one does not have to wait until a Treasury bond matures to get one’s money back. If I buy a bond from the Treasury today, I can sell it on the bond market next week. But there is a catch: the price I sell it for will likely to be higher or lower than the price I bought it for. The bond mark ...
Document
... permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
... permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. ...
Macroeconomic Policy Lessons Learned and Admonitions Offered
... RESPONSES--Created federal oil reserves to prevent short term crises from the rise in oil prices; lowered oil windfall profits tax. Enacted: a lower marginal tax rate (from 70 to 28 percent); a simplified tax code; more deregulation of industry; reduced inflation (from 13.5 in 1980 to 4.1 percent in ...
... RESPONSES--Created federal oil reserves to prevent short term crises from the rise in oil prices; lowered oil windfall profits tax. Enacted: a lower marginal tax rate (from 70 to 28 percent); a simplified tax code; more deregulation of industry; reduced inflation (from 13.5 in 1980 to 4.1 percent in ...
Changes in the American Economy: The Energy Crisis
... Economists dubbed the phenomena "Stagflation," a period of rising prices in a stagnant economy. The high standard of living in the US following World War II suddenly began to lag behind that of Western Europe and Japan. Americans found it increasingly difficult to sustain a middle class lifestyle. ...
... Economists dubbed the phenomena "Stagflation," a period of rising prices in a stagnant economy. The high standard of living in the US following World War II suddenly began to lag behind that of Western Europe and Japan. Americans found it increasingly difficult to sustain a middle class lifestyle. ...
Changes in the American Economy: The Energy Crisis
... Economists dubbed the phenomena "Stagflation," a period of rising prices in a stagnant economy. The high standard of living in the US following World War II suddenly began to lag behind that of Western Europe and Japan. Americans found it increasingly difficult to sustain a middle class lifestyle. ...
... Economists dubbed the phenomena "Stagflation," a period of rising prices in a stagnant economy. The high standard of living in the US following World War II suddenly began to lag behind that of Western Europe and Japan. Americans found it increasingly difficult to sustain a middle class lifestyle. ...
Re-examine - KAM South
... Source: SEI, in USD, Small Cap = Russell 2000, Large Cap = Russell 1000, World Equities = MSCI World Index, Emerging Markets Equity = MSCI EME, Real Estate = DJ Wilshire RESI Index, Developed International Equity Markets = MSCI EAFE, High Yield = Merrill Lynch US HY Master II Constrained, Cash = ML ...
... Source: SEI, in USD, Small Cap = Russell 2000, Large Cap = Russell 1000, World Equities = MSCI World Index, Emerging Markets Equity = MSCI EME, Real Estate = DJ Wilshire RESI Index, Developed International Equity Markets = MSCI EAFE, High Yield = Merrill Lynch US HY Master II Constrained, Cash = ML ...
Recitation Material - Matthew H. Shapiro
... 21. (3 RP) Consider the following FOMC statement. Is the Fed using expansionary or contractionary monetary policy, or neither? Is actual output above or below potential output? The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 3 percent ...
... 21. (3 RP) Consider the following FOMC statement. Is the Fed using expansionary or contractionary monetary policy, or neither? Is actual output above or below potential output? The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 3 percent ...
by John B. Taylor Stanford University March 3, 2000
... late 1980s, grew again in the early 1990s, and have disappeared in the late 1990s. Nor does counter cyclical policy seem to have strengthened. The discretionary stimulus packages submitted by Presidents Bush and Clinton in 1992 and 1993 were defeated by Congress. And Alan Auerbach (1999) shows that ...
... late 1980s, grew again in the early 1990s, and have disappeared in the late 1990s. Nor does counter cyclical policy seem to have strengthened. The discretionary stimulus packages submitted by Presidents Bush and Clinton in 1992 and 1993 were defeated by Congress. And Alan Auerbach (1999) shows that ...
Principles of Economics
... Copyright © 2011, 2008 Timothy Taylor. Published by Textbook Media ISBN 1-930789-13-0 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrie ...
... Copyright © 2011, 2008 Timothy Taylor. Published by Textbook Media ISBN 1-930789-13-0 All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrie ...
Document
... • The Inflation Rate-% change in prices in 1 year • They also compare changes in prices to a given base year (usually 1982) • Prices of subsequent years are then expressed as a percentage of the base year • Examples: • 2005 inflation rate was 3.4% • U.S. prices have increase 98.3% since 1982 (base y ...
... • The Inflation Rate-% change in prices in 1 year • They also compare changes in prices to a given base year (usually 1982) • Prices of subsequent years are then expressed as a percentage of the base year • Examples: • 2005 inflation rate was 3.4% • U.S. prices have increase 98.3% since 1982 (base y ...
Lecture 13: The Great Depression
... the run up to the housing crisis Many people think the Fed kept interest rates low too long during the 2000s, which encouraged mortgage lending ...
... the run up to the housing crisis Many people think the Fed kept interest rates low too long during the 2000s, which encouraged mortgage lending ...
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.