FROM STANDARD TO David I. Fand A RANDOM-WALK MONETARY
... A second factor that has been helpful in holding down the inflation rate is the commodity supply revolution. There has been a significant revolution—increasing supply—throughout the world. Some have called it the green revolution, but it also has an impact on industrial products. Whether we have tau ...
... A second factor that has been helpful in holding down the inflation rate is the commodity supply revolution. There has been a significant revolution—increasing supply—throughout the world. Some have called it the green revolution, but it also has an impact on industrial products. Whether we have tau ...
The Economic Outlook: Fasten Your Seatbelts
... Permission to reprint or distribute any content from this presentation requires the written approval of Standard & Poor’s. Copyright (c) 2008 Standard & Poor’s, a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved. ...
... Permission to reprint or distribute any content from this presentation requires the written approval of Standard & Poor’s. Copyright (c) 2008 Standard & Poor’s, a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved. ...
Measuring the Economic Impact of Civil War
... investment, growth in the capital stock is stunted. Civil war, therefore, reduces both the level of the capital stock and its rate of growth. This suggests that a major way in which civil war affects the economy is through dramatic reductions in domestic investment. According to this perspective, t ...
... investment, growth in the capital stock is stunted. Civil war, therefore, reduces both the level of the capital stock and its rate of growth. This suggests that a major way in which civil war affects the economy is through dramatic reductions in domestic investment. According to this perspective, t ...
From Bimetallism to Monetarism
... To begin with, the “monetarist-structuralist debate” about inflation and growth was well under way in Latin America by the early 1960s, before the monetarist controversy had gathered much momentum in the United States and Europe, and Friedman’s work played only a peripheral role in this, particularl ...
... To begin with, the “monetarist-structuralist debate” about inflation and growth was well under way in Latin America by the early 1960s, before the monetarist controversy had gathered much momentum in the United States and Europe, and Friedman’s work played only a peripheral role in this, particularl ...
Australia Philippines Taiwan Thailand
... Employers have been reluctant to employ permanent employees as they remain skeptical about economic growth prospects. The new monthly leading indicator of employment, which peaked in January 2014, has been falling since then.1 In other words, employment growth has been weak since early last year, an ...
... Employers have been reluctant to employ permanent employees as they remain skeptical about economic growth prospects. The new monthly leading indicator of employment, which peaked in January 2014, has been falling since then.1 In other words, employment growth has been weak since early last year, an ...
Review-exam#1 - Economics Department
... 74. Harry Truman is credited with the statement, "Give me a one-armed economist," because economists are likely to say, "On the one hand, . . . on the other hand." Why do economists "waffle" more than physicists or chemists? 75. In the early 1800s, there was a smallpox outbreak in a remote part of R ...
... 74. Harry Truman is credited with the statement, "Give me a one-armed economist," because economists are likely to say, "On the one hand, . . . on the other hand." Why do economists "waffle" more than physicists or chemists? 75. In the early 1800s, there was a smallpox outbreak in a remote part of R ...
Document
... The liquidity trap is when interest rates are very low (bond prices are high), and virtually everyone comes to believe that interest rates will rise in the future. If they buy bonds at this ...
... The liquidity trap is when interest rates are very low (bond prices are high), and virtually everyone comes to believe that interest rates will rise in the future. If they buy bonds at this ...
NBER WORKING PAPER SERIES MONETARY POLICY AND ASSET PRICES:
... Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms Large swings in asset prices and economic activity in the United States, Japan, and other countries over the past several years have brought renewed focus on the linkages between monetary policy and asset markets. Monetary ...
... Monetary Policy and Asset Prices: A Look Back at Past U.S. Stock Market Booms Large swings in asset prices and economic activity in the United States, Japan, and other countries over the past several years have brought renewed focus on the linkages between monetary policy and asset markets. Monetary ...
Local copy
... commodity prices might be particularly good indicators because they are highly responsive to changing economic conditions. Similarly, during the U.S. stock market boom of the 1990s, some economists called for Fed tightening to dampen “asset price in ation,” suggesting that the right index for monet ...
... commodity prices might be particularly good indicators because they are highly responsive to changing economic conditions. Similarly, during the U.S. stock market boom of the 1990s, some economists called for Fed tightening to dampen “asset price in ation,” suggesting that the right index for monet ...
Reports - UM Personal World Wide Web Server
... expectations and thus affect the real interest rate. This is the channel through which Romer (1992) argues that money supply growth led to economic recovery after 1933. Eggertsson and Pugsley (2006) argue that policymakers’ actions in the spring of 1937 lowered inflation expectations and through thi ...
... expectations and thus affect the real interest rate. This is the channel through which Romer (1992) argues that money supply growth led to economic recovery after 1933. Eggertsson and Pugsley (2006) argue that policymakers’ actions in the spring of 1937 lowered inflation expectations and through thi ...
Economic growth in Germany, 1500–1850
... and a decline in the rest (Allen 2001). However, it may well be that declining real wages were at least partially offset by an increasing work effort (van Zanden 2001; de Vries 2008) and by income from other sources than labour. Looking at welfare from an aggregate perspective, therefore, has the po ...
... and a decline in the rest (Allen 2001). However, it may well be that declining real wages were at least partially offset by an increasing work effort (van Zanden 2001; de Vries 2008) and by income from other sources than labour. Looking at welfare from an aggregate perspective, therefore, has the po ...
Natural Capital, Investment, and Economic Growth
... goods. An appreciation of the domestic currency in real terms lowers the price of tradable output and reduces investment, learning and growth. Increased volatility of the real exchange rate has the same effect. In a recent paper (Gylfason and Zoega, 2003) we develop a model of rent-seeking behaviour ...
... goods. An appreciation of the domestic currency in real terms lowers the price of tradable output and reduces investment, learning and growth. Increased volatility of the real exchange rate has the same effect. In a recent paper (Gylfason and Zoega, 2003) we develop a model of rent-seeking behaviour ...
Y - IS MU
... the IS curve, and its relation to the Keynesian cross the loanable funds model the LM curve, and its relation to the theory of liquidity preference how the IS-LM model determines income and the interest rate in the short run when P is fixed CHAPTER 9 ...
... the IS curve, and its relation to the Keynesian cross the loanable funds model the LM curve, and its relation to the theory of liquidity preference how the IS-LM model determines income and the interest rate in the short run when P is fixed CHAPTER 9 ...
FROM LIBERALIZATION TO INVESTMENT AND JOBS: LOST IN TRANSLATION A.
... mobile, moved from one location to another through international trade and investment.2 The distribution of jobs across countries is also influenced by rapidly growing international financial flows through their impact on exchange rates, competitiveness and trade flows. Consequently, unemployment ha ...
... mobile, moved from one location to another through international trade and investment.2 The distribution of jobs across countries is also influenced by rapidly growing international financial flows through their impact on exchange rates, competitiveness and trade flows. Consequently, unemployment ha ...
Slide 1
... due to an exogenous fall in the demand for goods & services Supporting evidence: ◦ output, consumption, and investment declined steadily from 1929-1934 ◦ Government spending remained largely unchanged during this period ...
... due to an exogenous fall in the demand for goods & services Supporting evidence: ◦ output, consumption, and investment declined steadily from 1929-1934 ◦ Government spending remained largely unchanged during this period ...
Chapter 1: Introduction
... Sixth and last of the key economic quantities is the exchange rate: the rate at which the moneys of different countries can be exchanged one for another. The exchange rate governs the terms on which international trade and international investment takes place. When the dollar is appreciated, the val ...
... Sixth and last of the key economic quantities is the exchange rate: the rate at which the moneys of different countries can be exchanged one for another. The exchange rate governs the terms on which international trade and international investment takes place. When the dollar is appreciated, the val ...
Investment in the euro area
... Fixed capital formation has also been trailing behind its longer-term average when measured in terms of the aggregate investment ratio in recent years. Gross fixed capital formation accounted for a mean 22% of gross domestic product (GDP) between 1995 and 2007, shrinking to less than 20% by 2014. T ...
... Fixed capital formation has also been trailing behind its longer-term average when measured in terms of the aggregate investment ratio in recent years. Gross fixed capital formation accounted for a mean 22% of gross domestic product (GDP) between 1995 and 2007, shrinking to less than 20% by 2014. T ...
The financial crisis as a tsunami
... The main concern of this analysis is to facilitate a deeper understanding of the way of thinking and the main reference frameworks of economists with different paradigmatic orientation and prove whether there are any differences among them. A far‐reaching and dramatic event ...
... The main concern of this analysis is to facilitate a deeper understanding of the way of thinking and the main reference frameworks of economists with different paradigmatic orientation and prove whether there are any differences among them. A far‐reaching and dramatic event ...
US Economic Growth in the Gilded Age
... as presented by Abramovitz.. The growth rate over that 36 year period also reflects the combined influence of two subperiods, the first between 1835 and 1855, in which growth of output per hour was largely attributable to capital deepening, and the second, as noted, in which TFP fell. Abramovitz has ...
... as presented by Abramovitz.. The growth rate over that 36 year period also reflects the combined influence of two subperiods, the first between 1835 and 1855, in which growth of output per hour was largely attributable to capital deepening, and the second, as noted, in which TFP fell. Abramovitz has ...
FREE Sample Here
... 26. Which of the following statements is most correct? a. Both gold and silver have now been completely removed from any monetary role in the U.S. economy. b. Savings deposits and small time deposits at depository institutions constitute part of the M1 money supply definition. c. Fiat money is gold ...
... 26. Which of the following statements is most correct? a. Both gold and silver have now been completely removed from any monetary role in the U.S. economy. b. Savings deposits and small time deposits at depository institutions constitute part of the M1 money supply definition. c. Fiat money is gold ...
Demand from China: Fact or Fiction?
... increase, the supply of goods would be even greater and prices would then be even lower, since with more people producing there would be more goods created.1 Absent more people producing, the supply of goods increases by way of each worker being able to produce more goods. Each worker’s productivit ...
... increase, the supply of goods would be even greater and prices would then be even lower, since with more people producing there would be more goods created.1 Absent more people producing, the supply of goods increases by way of each worker being able to produce more goods. Each worker’s productivit ...
RETHINKING MACROECONOMICS: WHAT FAILED, AND HOW TO REPAIR IT Joseph E. Stiglitz
... test—the one whose results we really cared about—the standard macroeconomic models failed miserably. Those relying on the Standard Model did not predict the crisis; and even after the bubble broke, the Fed Chairman argued that its effects would be contained.2 They were not. In the months that follow ...
... test—the one whose results we really cared about—the standard macroeconomic models failed miserably. Those relying on the Standard Model did not predict the crisis; and even after the bubble broke, the Fed Chairman argued that its effects would be contained.2 They were not. In the months that follow ...
O`Sullivan Sheffrin Peres 6e
... for the Japanese economy during its decade-long economic downturn? ...
... for the Japanese economy during its decade-long economic downturn? ...
PDF
... (0.05) are higher than previous findings for selected states in India. Aggregate agricultural output responds positively to credit availability (represented by banks) and canal irrigation, each with an elasticity of 0.01. The wage elasticity (0.3) on aggregate output is higher than price elasticity ...
... (0.05) are higher than previous findings for selected states in India. Aggregate agricultural output responds positively to credit availability (represented by banks) and canal irrigation, each with an elasticity of 0.01. The wage elasticity (0.3) on aggregate output is higher than price elasticity ...
Short-Run Macroeconomic Equilibrium
... 1. In the AD–AS model, the intersection of the short-run aggregate supply curve and the aggregate demand curve is the point of short-run macroeconomic equilibrium. It determines the short-run equilibrium aggregate price level and the level of short-run equilibrium aggregate output. 2. Economic fluct ...
... 1. In the AD–AS model, the intersection of the short-run aggregate supply curve and the aggregate demand curve is the point of short-run macroeconomic equilibrium. It determines the short-run equilibrium aggregate price level and the level of short-run equilibrium aggregate output. 2. Economic fluct ...
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%.