Growth
... We can think of growth as coming from capital accumulation and from technological progress, but these two factors play very different roles in the growth process: Capital accumulation by itself cannot sustain growth. Saving rate is the proportion of income that is saved. Sustained growth require ...
... We can think of growth as coming from capital accumulation and from technological progress, but these two factors play very different roles in the growth process: Capital accumulation by itself cannot sustain growth. Saving rate is the proportion of income that is saved. Sustained growth require ...
The Great Depression in Brazil
... Brazilian economy is Delfim Netto (1959). This study is aimed at examining the entire history of coffee production in Brazil, from the second half of the nineteenth century up to the midtwentieth century, with a special focus on the different forms of government intervention in this market. It is wo ...
... Brazilian economy is Delfim Netto (1959). This study is aimed at examining the entire history of coffee production in Brazil, from the second half of the nineteenth century up to the midtwentieth century, with a special focus on the different forms of government intervention in this market. It is wo ...
Financial Structure and the Impact of Monetary Policy on Property
... sector. Residential property prices were subsequently weak or fell in the 1990s, following the US recession in 1990-1991 and the episode of high interest rates in many European countries after the turmoil in the European exchange rate mechanism (ERM) in 1992-93, which was triggered by the adoption o ...
... sector. Residential property prices were subsequently weak or fell in the 1990s, following the US recession in 1990-1991 and the episode of high interest rates in many European countries after the turmoil in the European exchange rate mechanism (ERM) in 1992-93, which was triggered by the adoption o ...
INDIAN MACRO ECONOMETRIC MODELS ON MONETARY
... equation either to replace the monetary factors or to support them as appropriate. There is no consensus on the form in which money is incorporated in price equation. However, sectoral as well as aggregative prices are affected by excess liquidity in the economy following Quantity Theory approach. T ...
... equation either to replace the monetary factors or to support them as appropriate. There is no consensus on the form in which money is incorporated in price equation. However, sectoral as well as aggregative prices are affected by excess liquidity in the economy following Quantity Theory approach. T ...
Regional Economic Outlook: Middle East and Central Asia
... curtail the capital inflows that have supported growth in many countries in the region. The key macroeconomic policy challenge in the short run for most countries in the region is to contain rising inflationary pressures, and for countries with large external debts and current account deficits to pr ...
... curtail the capital inflows that have supported growth in many countries in the region. The key macroeconomic policy challenge in the short run for most countries in the region is to contain rising inflationary pressures, and for countries with large external debts and current account deficits to pr ...
International aspects of the Great Depression and the crisis of 2007
... nicely illustrating the geographic spread of a crisis outward from London, to the rest of Britain, to British colonies, and to continental and American destinations following its initial outbreak in August 1847. The international dimension of banking crises became, if anything, more important during ...
... nicely illustrating the geographic spread of a crisis outward from London, to the rest of Britain, to British colonies, and to continental and American destinations following its initial outbreak in August 1847. The international dimension of banking crises became, if anything, more important during ...
Nicholas C Garganas: Macroeconomic management
... Experience in the euro area and the US with supply-side shocks The discussion until this point has largely been in an analytical context. One of the basic messages to emerge from the analysis is the fact that theory does not give us a clear lead – there are too many ‘ifs’ and ‘buts’. For this reaso ...
... Experience in the euro area and the US with supply-side shocks The discussion until this point has largely been in an analytical context. One of the basic messages to emerge from the analysis is the fact that theory does not give us a clear lead – there are too many ‘ifs’ and ‘buts’. For this reaso ...
the full text of the Speech
... shocks. These outcomes appear to be more modest than the predictions of econometric models, estimated on the basis of past relationships when oil-price shocks exerted a relatively large impact on inflation and growth. For example, euro area econometric models predict that a 50% increase in oil pric ...
... shocks. These outcomes appear to be more modest than the predictions of econometric models, estimated on the basis of past relationships when oil-price shocks exerted a relatively large impact on inflation and growth. For example, euro area econometric models predict that a 50% increase in oil pric ...
Impact from Changing Internal and External Conditions on Korea`s
... With the majority of the world experiencing disinflation, Korea’s inflation has remained below the target range for the past several years, calling for an examination into the related factors. The average inflation rate of major advanced countries has dropped 0.9%p since 2000, posting 1.2% in 2012. ...
... With the majority of the world experiencing disinflation, Korea’s inflation has remained below the target range for the past several years, calling for an examination into the related factors. The average inflation rate of major advanced countries has dropped 0.9%p since 2000, posting 1.2% in 2012. ...
Chapter 18 PPT
... to redeem their dollar assets before the gold ran out. This problem is similar to what any central bank may face when it tries to maintain a fixed exchange rate. If markets perceive that the central bank does not have enough official international reserve assets to maintain a fixed rate, a balan ...
... to redeem their dollar assets before the gold ran out. This problem is similar to what any central bank may face when it tries to maintain a fixed exchange rate. If markets perceive that the central bank does not have enough official international reserve assets to maintain a fixed rate, a balan ...
FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN
... Based on an aggregate production function that relates the total output of an economy to the aggregate amounts of labor, human and physical capital, and the level of technology, neoclassical growth theory predicts that poor countries will grow faster than rich countries. Under the assumption of dimi ...
... Based on an aggregate production function that relates the total output of an economy to the aggregate amounts of labor, human and physical capital, and the level of technology, neoclassical growth theory predicts that poor countries will grow faster than rich countries. Under the assumption of dimi ...
Money, Income, Prices, and Causality in Pakistan
... from income to money indicating that probably real factors rather than money supply has played a major role in the growth of national income of Pakistan. A closer look at the results reveals that income affects money at third lag, i.e., the significant impact of income on money appears after three y ...
... from income to money indicating that probably real factors rather than money supply has played a major role in the growth of national income of Pakistan. A closer look at the results reveals that income affects money at third lag, i.e., the significant impact of income on money appears after three y ...
Keynes`s Theory of Depression
... economy will become more production oriented and less consumption oriented. So even if consumption in the economy declines due to a fall in total wage payments, that does not mean total spending in the economy will decline. Consumption is not the largest component of spending in the economy. Consump ...
... economy will become more production oriented and less consumption oriented. So even if consumption in the economy declines due to a fall in total wage payments, that does not mean total spending in the economy will decline. Consumption is not the largest component of spending in the economy. Consump ...
Trade Policy and America`s Standard of Living: An Historical
... integration into an international division of labor. Before World War II things were different. For a century and a half after the founding of the United States, free trade tended to be the exception, and protectionism the rule. Tariff rates did oscillate: they went up with the Hawley-Smoot tariff a ...
... integration into an international division of labor. Before World War II things were different. For a century and a half after the founding of the United States, free trade tended to be the exception, and protectionism the rule. Tariff rates did oscillate: they went up with the Hawley-Smoot tariff a ...
Chapter 1: Introduction
... Legend: The Federal Reserve controls the money supply through open market operations: purchases and sales of bonds on the open market. A purchase of bonds increases the economy’s money stock. A sale of bonds sucks cash out of the economy and reduces the money stock. The Federal Reserve directly cont ...
... Legend: The Federal Reserve controls the money supply through open market operations: purchases and sales of bonds on the open market. A purchase of bonds increases the economy’s money stock. A sale of bonds sucks cash out of the economy and reduces the money stock. The Federal Reserve directly cont ...
Business Cycles - Faculty Websites
... are weather-dependent. Rainfall and sunshine influence the output of these sectors, so the weather is a a potential source of fluctuations. This is also true for disasters like earthquakes or landslides. El Niño is a shock of this kind that received a lot of attention lately. We can regard these kind ...
... are weather-dependent. Rainfall and sunshine influence the output of these sectors, so the weather is a a potential source of fluctuations. This is also true for disasters like earthquakes or landslides. El Niño is a shock of this kind that received a lot of attention lately. We can regard these kind ...
Do Higher Wages Cause Inflation?
... The purpose of this paper is to demonstrate that a 2-sector DGE model calibrated to the ...
... The purpose of this paper is to demonstrate that a 2-sector DGE model calibrated to the ...
Macro Economics
... its foundations in Classical Theory was developed. The major principle behind this New Classical Economics approach was the theory of Rational Expectations. In the 1980s, a new school of economic thought called supply-side economics gained prominence. Supply-side economists stressed the importance o ...
... its foundations in Classical Theory was developed. The major principle behind this New Classical Economics approach was the theory of Rational Expectations. In the 1980s, a new school of economic thought called supply-side economics gained prominence. Supply-side economists stressed the importance o ...
from global collapse to recovery
... policy frameworks paid off. They enabled LAC to better cushion the external shock and undertake countercyclical policies, especially on the monetary front but also, to a lesser extent, on the fiscal side. While banking system weaknesses did not play a role in most LAC countries (with the possible ex ...
... policy frameworks paid off. They enabled LAC to better cushion the external shock and undertake countercyclical policies, especially on the monetary front but also, to a lesser extent, on the fiscal side. While banking system weaknesses did not play a role in most LAC countries (with the possible ex ...
Macro Economics - RuralNaukri.com
... its foundations in Classical Theory was developed. The major principle behind this New Classical Economics approach was the theory of Rational Expectations. In the 1980s, a new school of economic thought called supply-side economics gained prominence. Supply-side economists stressed the importance o ...
... its foundations in Classical Theory was developed. The major principle behind this New Classical Economics approach was the theory of Rational Expectations. In the 1980s, a new school of economic thought called supply-side economics gained prominence. Supply-side economists stressed the importance o ...
NBER WORKING PAPER SERIES THE ROLES OF MONETARY, FINANCIAL AND
... inflexible rules such as a constant growth rate for budget or a constant share of public spending in GNP sensible. ...
... inflexible rules such as a constant growth rate for budget or a constant share of public spending in GNP sensible. ...
SOLUTIONS TO TEXT PROBLEMS:
... Second, the sticky-price theory suggests that the prices of some goods and services are slow to change. If some economic event causes the overall price level to decline, the relative prices of goods whose prices are sticky will rise and the quantity of those goods sold will decline, leading firms to ...
... Second, the sticky-price theory suggests that the prices of some goods and services are slow to change. If some economic event causes the overall price level to decline, the relative prices of goods whose prices are sticky will rise and the quantity of those goods sold will decline, leading firms to ...
Estimating Indexes of Coincident and Leading Indicators
... -6traditionally concentrated in the mining of phosphates and potash, petroleum refining, and cement production, although light manufacturing—particularly textiles and apparel—have recently gained in importance. The economy is relatively open to international trade, with the tradable sector (defined ...
... -6traditionally concentrated in the mining of phosphates and potash, petroleum refining, and cement production, although light manufacturing—particularly textiles and apparel—have recently gained in importance. The economy is relatively open to international trade, with the tradable sector (defined ...
AD - Binus Repository
... and the AD-AS Model • The basic AD-AS model focuses on how the general level of prices influence the choices of business decision makers. Disequilibrium occurs when the actual price level is either greater than or less than the anticipated level. • When the inflation rate is greater than anticipated ...
... and the AD-AS Model • The basic AD-AS model focuses on how the general level of prices influence the choices of business decision makers. Disequilibrium occurs when the actual price level is either greater than or less than the anticipated level. • When the inflation rate is greater than anticipated ...
Quantifying Australias Three Speed Boom
... As a commodity exporter, the Australian economy faces a volatile terms of trade and progresses between commodity booms and busts. It has therefore been forced to cope repeatedly with structural adjustments associated with the resource movement effects and de-industrialisation. Battellino (2010) revi ...
... As a commodity exporter, the Australian economy faces a volatile terms of trade and progresses between commodity booms and busts. It has therefore been forced to cope repeatedly with structural adjustments associated with the resource movement effects and de-industrialisation. Battellino (2010) revi ...
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%.