Modern Macroeconomics and Monetary Policy (15th ed.)
... • The Keynesian view dominated during the 1950s and 1960s. • Keynesians argued that money supply did not matter much. • Monetarists challenged the Keynesian view during the 1960s and 1970s. • Monetarists argued that changes in the money supply caused both inflation and economic instability. • While ...
... • The Keynesian view dominated during the 1950s and 1960s. • Keynesians argued that money supply did not matter much. • Monetarists challenged the Keynesian view during the 1960s and 1970s. • Monetarists argued that changes in the money supply caused both inflation and economic instability. • While ...
Here
... rise in the relative price of grains. Grain prices in Sweden rose more steeply than prices of animal foodstuffs, which in turn rose less than prices of textiles and building materials. This conforms to trends elsewhere in western Europe.20 After about 1540, the trend in real wages in Stockholm is cl ...
... rise in the relative price of grains. Grain prices in Sweden rose more steeply than prices of animal foodstuffs, which in turn rose less than prices of textiles and building materials. This conforms to trends elsewhere in western Europe.20 After about 1540, the trend in real wages in Stockholm is cl ...
Chapter 20 - Aggregate demand and aggregate supply
... 3. Shifts Arising from Natural Resources: An increase in the availability of natural resources shifts the aggregate-supply curve to the right. A decrease in the availability of natural resources shifts the aggregate-supply curve to the left. 4. Shifts Arising from Technology: An advance in technolog ...
... 3. Shifts Arising from Natural Resources: An increase in the availability of natural resources shifts the aggregate-supply curve to the right. A decrease in the availability of natural resources shifts the aggregate-supply curve to the left. 4. Shifts Arising from Technology: An advance in technolog ...
Beggar Thy Neighbour: British Imports During the Inter
... Many studies have investigated the effect of the 1932 tariff on the British economy, especially import demand. One of the earliest was Leak (1938), which focused on identifying the areas affected by the introduction of the tariff by calculating the average rates, using 1930 as the base year. The pro ...
... Many studies have investigated the effect of the 1932 tariff on the British economy, especially import demand. One of the earliest was Leak (1938), which focused on identifying the areas affected by the introduction of the tariff by calculating the average rates, using 1930 as the base year. The pro ...
PWT 8.0 – a user guide - Industrial Relations Section
... reflect relative prices of non-‐traded products, such as housing and many other services, while a PPP is designed to compare prices for all products in the economy. The third row show ...
... reflect relative prices of non-‐traded products, such as housing and many other services, while a PPP is designed to compare prices for all products in the economy. The third row show ...
Per commodity: comparing price indexes of supply and of the
... Traditionally the national accounts (NA) are used to estimate the strength and the performance of an economy. The main indicators are (the growth of) gross domestic product (GDP) and its components both from an expenditure and production point of view. In the course of time the use of national accou ...
... Traditionally the national accounts (NA) are used to estimate the strength and the performance of an economy. The main indicators are (the growth of) gross domestic product (GDP) and its components both from an expenditure and production point of view. In the course of time the use of national accou ...
July 2014 CURRICULUM VITAE Personal Data:
... International Review of Economics and Finance International Review of Economics Education International Tax and Public Finance Internet, Processes, and Systems for Interdisciplinary Research Journal of Asian Economics Journal of Banking and Finance Journal of Business Journal of Business and Economi ...
... International Review of Economics and Finance International Review of Economics Education International Tax and Public Finance Internet, Processes, and Systems for Interdisciplinary Research Journal of Asian Economics Journal of Banking and Finance Journal of Business Journal of Business and Economi ...
Patterns of Growth and Stagnation in the Late Nineteenth Century Habsburg Economy'
... results. First, Gross’s observations do not lend themselves to any measurement over time since the underlying original (census and survey) data were generated by using different methods and gathered unsystematically relative to the business cycle (Komlos ; cf. Huertas ). Some of the dates of ...
... results. First, Gross’s observations do not lend themselves to any measurement over time since the underlying original (census and survey) data were generated by using different methods and gathered unsystematically relative to the business cycle (Komlos ; cf. Huertas ). Some of the dates of ...
Lecture Notes on Macroeconomic Principles
... Since bank accounts, bonds, automobile loans, and mortgages all make or require dollar payments at different points in time, the interest rates on these investments or loans must also be corrected for the effects of inflation to gauge their true economic significance. Suppose, for example, that y ...
... Since bank accounts, bonds, automobile loans, and mortgages all make or require dollar payments at different points in time, the interest rates on these investments or loans must also be corrected for the effects of inflation to gauge their true economic significance. Suppose, for example, that y ...
From bimetallism to monetarism
... deposits that normally vary in unison with the quantity of money), provided that the velocities of circulation and the volume of trade remain unchanged, and that there be a given state of development in deposit banking. This is one of the chief propositions concerning the level of prices or its reci ...
... deposits that normally vary in unison with the quantity of money), provided that the velocities of circulation and the volume of trade remain unchanged, and that there be a given state of development in deposit banking. This is one of the chief propositions concerning the level of prices or its reci ...
Patterns of growth and stagnation in the late nineteenth century
... results. First, Gross’s observations do not lend themselves to any measurement over time since the underlying original (census and survey) data were generated by using different methods and gathered unsystematically relative to the business cycle (Komlos ; cf. Huertas ). Some of the dates of ...
... results. First, Gross’s observations do not lend themselves to any measurement over time since the underlying original (census and survey) data were generated by using different methods and gathered unsystematically relative to the business cycle (Komlos ; cf. Huertas ). Some of the dates of ...
PWT 8.0 – a user guide
... reflect relative prices of non-‐traded products, such as housing and many other services, while a PPP is designed to compare prices for all products in the economy. The third row ...
... reflect relative prices of non-‐traded products, such as housing and many other services, while a PPP is designed to compare prices for all products in the economy. The third row ...
CHAPTER 12
... were flexible. According to Keynes, powerful labor unions and large businesses would resist wage and price reductions during an economic downturn and therefore output and employment would ...
... were flexible. According to Keynes, powerful labor unions and large businesses would resist wage and price reductions during an economic downturn and therefore output and employment would ...
4V - EconStor
... both deflationary monetary policies to reduce domestic expenditure and wage flexibility downwards to restore the previous employment level. This forms our option (iv), namely a real wage cut to meet the domestic employment constraint and a cut in real domestic absorption to meet the balance of trade ...
... both deflationary monetary policies to reduce domestic expenditure and wage flexibility downwards to restore the previous employment level. This forms our option (iv), namely a real wage cut to meet the domestic employment constraint and a cut in real domestic absorption to meet the balance of trade ...
Aggregate Demand and Aggregate Supply
... On average over the past 50 years, production in the U.S. economy has grown by about 3 percent per year. In some years normal growth does not occur, causing a recession. A recession is a period of declining real GDP, falling incomes, and rising unemployment. A depression is a severe recession. ...
... On average over the past 50 years, production in the U.S. economy has grown by about 3 percent per year. In some years normal growth does not occur, causing a recession. A recession is a period of declining real GDP, falling incomes, and rising unemployment. A depression is a severe recession. ...
aggregate-supply curve
... sustainable pace for a while, just as the U.S. economy grew faster than its potential growth rate during the 1990s. But over the entire course, the economy, like the marathoner, can produce only at a maximum sustainable “speed”, and this sustainable output speed is what we call potential output. (Sa ...
... sustainable pace for a while, just as the U.S. economy grew faster than its potential growth rate during the 1990s. But over the entire course, the economy, like the marathoner, can produce only at a maximum sustainable “speed”, and this sustainable output speed is what we call potential output. (Sa ...
Postwar Macroeconomics: The Evolution of Events and Ideas
... Two of the most important measures of the nation's economic performance are real GNP and the unemployment rate. Throughout the postwar era both have been explicit targets of policymakers, and the actual level of each variable has been compared in public policy discussions to target values for each. ...
... Two of the most important measures of the nation's economic performance are real GNP and the unemployment rate. Throughout the postwar era both have been explicit targets of policymakers, and the actual level of each variable has been compared in public policy discussions to target values for each. ...
China`s gross domestic product estimation
... 1. Establishment and development of China’s gross domestic product (GDP) estimation 1.1. Establishment of China’s GDP estimation National income, the key indicator in the Material Product System (MPS) by the Soviet Union and East European countries has been long adopted in China, from its founding t ...
... 1. Establishment and development of China’s gross domestic product (GDP) estimation 1.1. Establishment of China’s GDP estimation National income, the key indicator in the Material Product System (MPS) by the Soviet Union and East European countries has been long adopted in China, from its founding t ...
David Wyss
... independence and objectivity of ratings opinions. The credit ratings and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of the informa ...
... independence and objectivity of ratings opinions. The credit ratings and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of the informa ...
Economic Growth :Importance of Education and Technological
... As the catch-up phase comes to an end, innovation becomes the key to further growth. Existing industries in developed economies are subjected to global competition from the next wave of low-wage global competitors in their own catch-up phase. As “catch-up” countries compete successfully at lower cos ...
... As the catch-up phase comes to an end, innovation becomes the key to further growth. Existing industries in developed economies are subjected to global competition from the next wave of low-wage global competitors in their own catch-up phase. As “catch-up” countries compete successfully at lower cos ...
The role of FDI on economic growth in Malaysia
... reaching a high of 9.7% in 1990. This figure stabilizes at 8.2% until 1994 and increased to 9.5% in 1995. During the last three decades, the growth rate of the real GDP averaged from 5 percent to 9 percent. Similarly, Malaysia’s income per capita in (nominal terms) has increased from US$334 in 1970 ...
... reaching a high of 9.7% in 1990. This figure stabilizes at 8.2% until 1994 and increased to 9.5% in 1995. During the last three decades, the growth rate of the real GDP averaged from 5 percent to 9 percent. Similarly, Malaysia’s income per capita in (nominal terms) has increased from US$334 in 1970 ...
MONEY MARKET EQUILIBRIUM IN THE CZECH REPUBLIC
... spend more money to buy the usual basket of goods and services. Therefore, to maintain the same level of liquidity as it was before the price increase, they will need to keep more money. The third factor that determines the aggregate money demand is the real national income. If real gross domestic p ...
... spend more money to buy the usual basket of goods and services. Therefore, to maintain the same level of liquidity as it was before the price increase, they will need to keep more money. The third factor that determines the aggregate money demand is the real national income. If real gross domestic p ...
IS-LM and Monetarism
... A second issue is that the quantity theorist regards the supply of money as affected by factors other than those affecting the demand for money. A third issue is that Keynes asserts that under conditions of underemployment, when interest rates are positive but low, a liquidity trap exists such that ...
... A second issue is that the quantity theorist regards the supply of money as affected by factors other than those affecting the demand for money. A third issue is that Keynes asserts that under conditions of underemployment, when interest rates are positive but low, a liquidity trap exists such that ...
growthfin_slides_AFA - Duke University`s Fuqua School of
... What we know as a result of our research: • We show the mechanism. Both: » increased investment, partially through a cost of capital effect and » increased productivity (which is different from the financial development literature) ...
... What we know as a result of our research: • We show the mechanism. Both: » increased investment, partially through a cost of capital effect and » increased productivity (which is different from the financial development literature) ...
How Powerful Is Monetary Policy in the Long Run?
... unemployment that were afflicting virtually the entire world during the Great Depression. He also sought to identify government policies that could help reduce these high levels of unemployment. Although Keynes’s theory discussed the long-term implications of government policies, his focus was on th ...
... unemployment that were afflicting virtually the entire world during the Great Depression. He also sought to identify government policies that could help reduce these high levels of unemployment. Although Keynes’s theory discussed the long-term implications of government policies, his focus was on th ...
Long Depression
The Long Depression was a worldwide price recession, beginning in 1873 and running through the spring of 1879. It was the most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War. The episode was labeled the ""Great Depression"" at the time, and it held that designation until the Great Depression of the 1930s. Though a period of general deflation and a general contraction, it did not have the severe economic retrogression of the Great Depression.It was most notable in Western Europe and North America, at least in part because reliable data from the period are most readily available in those parts of the world. The United Kingdom is often considered to have been the hardest hit; during this period it lost some of its large industrial lead over the economies of Continental Europe. While it was occurring, the view was prominent that the economy of the United Kingdom had been in continuous depression from 1873 to as late as 1896 and some texts refer to the period as the Great Depression of 1873–96.In the United States, economists typically refer to the Long Depression as the Depression of 1873–79, kicked off by the Panic of 1873, and followed by the Panic of 1893, book-ending the entire period of the wider Long Depression. The National Bureau of Economic Research dates the contraction following the panic as lasting from October 1873 to March 1879. At 65 months, it is the longest-lasting contraction identified by the NBER, eclipsing the Great Depression's 43 months of contraction.In the US, from 1873–1879, 18,000 businesses went bankrupt, including 89 railroads. Ten states and hundreds of banks went bankrupt. Unemployment peaked in 1878, long after the panic ended. Different sources peg the peak unemployment rate anywhere from 8.25% to 14%.