Mankiw 6e PowerPoints - Texas Tech University
... recession A period during which aggregate output declines. Conventionally, a period in which aggregate output declines for two consecutive quarters. depression A prolonged and deep recession. ...
... recession A period during which aggregate output declines. Conventionally, a period in which aggregate output declines for two consecutive quarters. depression A prolonged and deep recession. ...
What Can We Learn from the 1998–2002 Depression in Argentina?*
... worthwhile to start to analyze the depression and to hypothesize about its causes. This paper does so using the “Great Depressions” methodology developed in this volume. This methodology employs growth accounting to decompose changes in economic growth rates into the parts due to capital accumulati ...
... worthwhile to start to analyze the depression and to hypothesize about its causes. This paper does so using the “Great Depressions” methodology developed in this volume. This methodology employs growth accounting to decompose changes in economic growth rates into the parts due to capital accumulati ...
Tariffs and Growth in Late Nineteenth Century America
... productivity growth was undistinguished when put in a comparative perspective. The paper then examines various channels by which high tariffs could have stimulated capital accumulation and productivity growth. It is difficult to attribute much of a positive role for the tariff because import tariffs ...
... productivity growth was undistinguished when put in a comparative perspective. The paper then examines various channels by which high tariffs could have stimulated capital accumulation and productivity growth. It is difficult to attribute much of a positive role for the tariff because import tariffs ...
The Flexible Model, Gold Dinar and Exchange Rate Determination
... c) A third feature of the classical gold standard era was that it both fostered and maintained by cooperation between monetary authorities of different nations. d) A fourth admired feature was that it represented a credible commitment regime. This was due that the fact many nations that adhered to ...
... c) A third feature of the classical gold standard era was that it both fostered and maintained by cooperation between monetary authorities of different nations. d) A fourth admired feature was that it represented a credible commitment regime. This was due that the fact many nations that adhered to ...
unit #9 - orange ws
... UNIT #9 – CIVICS & ECONOMICS – ORANGE WORKSHEET 9.1 – INTERNATIONAL TRADE Complete the statements below using your vocabulary from 9.1. ...
... UNIT #9 – CIVICS & ECONOMICS – ORANGE WORKSHEET 9.1 – INTERNATIONAL TRADE Complete the statements below using your vocabulary from 9.1. ...
LOS CICLOS EN LA ECONOMÍA Paseando con
... • Once the innovations have been disseminated, the markets become saturated and the profits drop. Investments contract. • Capitals change strategy: they accumulate in the financial sector, which offers greater rates of yield and fewer risks. • The expansive long wave leads to increases in wages and ...
... • Once the innovations have been disseminated, the markets become saturated and the profits drop. Investments contract. • Capitals change strategy: they accumulate in the financial sector, which offers greater rates of yield and fewer risks. • The expansive long wave leads to increases in wages and ...
Y - The University of Chicago Booth School of Business
... Notes on AS in the Instantaneous Time Period • Some Macro Economists (Keynes) had the notion that prices are fixed in the short run. It is costly to keep changing your prices when faced with every given shock. As a result, prices in the market tend to change slowly. Think about the price of milk at ...
... Notes on AS in the Instantaneous Time Period • Some Macro Economists (Keynes) had the notion that prices are fixed in the short run. It is costly to keep changing your prices when faced with every given shock. As a result, prices in the market tend to change slowly. Think about the price of milk at ...
Chapter 10 Power Point Presentation
... Explaining the Great Moderation Several factors help to explain the Great Moderation: The increasing importance of services Manufacturing (especially of durable goods) is more strongly affected by recessions. The economy is based more on services now, decreasing the effect of the business cycle on G ...
... Explaining the Great Moderation Several factors help to explain the Great Moderation: The increasing importance of services Manufacturing (especially of durable goods) is more strongly affected by recessions. The economy is based more on services now, decreasing the effect of the business cycle on G ...
DEFICIT
... in a two—sector economy that is otherwise similar to the traditional one— sector Keynesian analysis. The key to this surprising possibility is that an increased budget deficit changes the sectoral balance of demand. A reduction of taxes or an increase in transfer payments raises the demand for consu ...
... in a two—sector economy that is otherwise similar to the traditional one— sector Keynesian analysis. The key to this surprising possibility is that an increased budget deficit changes the sectoral balance of demand. A reduction of taxes or an increase in transfer payments raises the demand for consu ...
Chapter 23 Aggregate Supply and Demand and the Growth Diamond
... The aggregate supply curve is a tad trickier because it is believed to change over time. In the long run, it is thought to be vertical at Ynrl, the natural rate of output concept introduced earlier. In the long run, the economy can produce only so much given the state of technology, the natural rate ...
... The aggregate supply curve is a tad trickier because it is believed to change over time. In the long run, it is thought to be vertical at Ynrl, the natural rate of output concept introduced earlier. In the long run, the economy can produce only so much given the state of technology, the natural rate ...
ECN 111 Chapter 14 Lecture Notes
... 1. A standard definition of a recession is a decrease in real GDP that lasts for at least two quarters (six months). 2. The NBER (National Bureau of Economic Research) uses a broader definition of recession to date business-cycle turning points. It defines a recession as “a period of significant dec ...
... 1. A standard definition of a recession is a decrease in real GDP that lasts for at least two quarters (six months). 2. The NBER (National Bureau of Economic Research) uses a broader definition of recession to date business-cycle turning points. It defines a recession as “a period of significant dec ...
Statistics Canada now computes real GDP and the GDP deflator in a
... Statistics Canada's new method minimizes this potential divergence. The method employs a concept known as a chain volume index, which refers to the way a series of price calculations, each involving volumes of output from two consecutive years, are linked together to form a continuous chain. To unde ...
... Statistics Canada's new method minimizes this potential divergence. The method employs a concept known as a chain volume index, which refers to the way a series of price calculations, each involving volumes of output from two consecutive years, are linked together to form a continuous chain. To unde ...
President’s Report Board Directors
... conditions, it was also a confusing one. Some of the data appears contradictory, due primarily to differences in how the payroll and household survey results are calculated. The most important difference, especially for January, is how the surveys handle people being unable to work due to bad weathe ...
... conditions, it was also a confusing one. Some of the data appears contradictory, due primarily to differences in how the payroll and household survey results are calculated. The most important difference, especially for January, is how the surveys handle people being unable to work due to bad weathe ...
Chapter 14
... The government largely did nothing. Many people believe that monetary flows from Europe energized spending and economic growth in the US. In 1922, the “Roaring 20s” began. High flying tech stocks like RCA (radio) led the frenzied creation of a stock market bubble. Until the crash of Octobe ...
... The government largely did nothing. Many people believe that monetary flows from Europe energized spending and economic growth in the US. In 1922, the “Roaring 20s” began. High flying tech stocks like RCA (radio) led the frenzied creation of a stock market bubble. Until the crash of Octobe ...
Business Fluctuations: Aggregate Demand and Supply Business
... From 1930 to 1932, there were four waves of banking panics. By 1933, more than 40% of all American banks had failed. The fear and uncertainty also reduced investment spending. The U.S. capital stock was lower in 1940 than it had been in 1930. ...
... From 1930 to 1932, there were four waves of banking panics. By 1933, more than 40% of all American banks had failed. The fear and uncertainty also reduced investment spending. The U.S. capital stock was lower in 1940 than it had been in 1930. ...
Lecture 7. Classical monetary theory
... E.g. let’s consider the following. The money and bond markets are so efficient in the modern financially developed economies that they adjust continuously while the financial markets are open – i.e. they can be regarded as continuously in equilibrium for analytical purposes. EmD = E bD = 0 This mean ...
... E.g. let’s consider the following. The money and bond markets are so efficient in the modern financially developed economies that they adjust continuously while the financial markets are open – i.e. they can be regarded as continuously in equilibrium for analytical purposes. EmD = E bD = 0 This mean ...
The impact of new deal spending and lending during the
... (HOLC) to purchase troubled mortgages and refinance them. To gauge the impact of these New Deal programs, we compiled and digitized panel data sets for cities, counties, and states from a variety of sources. Many of the datasets used in the published papers can be found at my website at the Universi ...
... (HOLC) to purchase troubled mortgages and refinance them. To gauge the impact of these New Deal programs, we compiled and digitized panel data sets for cities, counties, and states from a variety of sources. Many of the datasets used in the published papers can be found at my website at the Universi ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Rational Expectations and Economic Policy
... made that year different from other years? I propose to maintain the convenient fiction that 1973 was a year of macroeconomic equilibrium. It wasn’t, as Poole points out clearly in his contribution to this book, but most of us have made worse assumptions from time to time. The unemployment rate was ...
... made that year different from other years? I propose to maintain the convenient fiction that 1973 was a year of macroeconomic equilibrium. It wasn’t, as Poole points out clearly in his contribution to this book, but most of us have made worse assumptions from time to time. The unemployment rate was ...
Long Run Aggregate Supply
... 2. Determine whether curve shifts left or right. 3. Use AD-AS diagram to see how the shift changes Y and P in the short run. ...
... 2. Determine whether curve shifts left or right. 3. Use AD-AS diagram to see how the shift changes Y and P in the short run. ...
1.4 Aggregate Supply
... • An increase in the money supply shifts the LM curve to the right • An increase in prices shifts the LM curve to the left • Increase in the transactions velocity of circulation (vt) will make the LM flatter e.g. financial innovation such as credit cards meaning that there is a rise in the number of ...
... • An increase in the money supply shifts the LM curve to the right • An increase in prices shifts the LM curve to the left • Increase in the transactions velocity of circulation (vt) will make the LM flatter e.g. financial innovation such as credit cards meaning that there is a rise in the number of ...
01pr - Eco 101
... 2. An arrow indicator that prices and quantities will rise and fall. P___or ___ and Q ___or ___ 3. A short explanation why this even affects the wheat market chose from below. Below are 6 developments that the editors foresee for the coming two years. They have to indicate on the side which char ...
... 2. An arrow indicator that prices and quantities will rise and fall. P___or ___ and Q ___or ___ 3. A short explanation why this even affects the wheat market chose from below. Below are 6 developments that the editors foresee for the coming two years. They have to indicate on the side which char ...
NBER WORKING PAPER SERIES AN INTERTEMPORAL DISEQUILIBRIUM MODEL Olivier J. Blanchard Jeffrey Sachs
... (Hall [121 and Sachs [221 allow for a nonlabor market clearing real wage) ...
... (Hall [121 and Sachs [221 allow for a nonlabor market clearing real wage) ...
NBER WORKING PAPER SERIES TARIFFS AND GROWTH IN LATE NINETEENTH CENTURY AMERICA
... accumulation. The pace of capital accumulation in the United States exceeded that in the United Kingdom by a factor of more than 3 during this period. After accounting for capital accumulation, the total factor productivity “residual” appears, somewhat surprisingly, to have been roughly comparable i ...
... accumulation. The pace of capital accumulation in the United States exceeded that in the United Kingdom by a factor of more than 3 during this period. After accounting for capital accumulation, the total factor productivity “residual” appears, somewhat surprisingly, to have been roughly comparable i ...
MINISTRY OF FINANCE Quarterly Economic Update
... 2016. This decline was supported by an increase in export Inflation for December 2016 was recorded at 7.3 receipts, combined with a drop in expenditure on percent, a constant rate since October 2016, although it imported goods. is more than double the 3.7 percent recorded December 2015. The average ...
... 2016. This decline was supported by an increase in export Inflation for December 2016 was recorded at 7.3 receipts, combined with a drop in expenditure on percent, a constant rate since October 2016, although it imported goods. is more than double the 3.7 percent recorded December 2015. The average ...
Business cycle investing
... In this white paper, we provide a framework to help investors evaluate investment decisions at any point in the business cycle and set reasonable expectations for future investment performance. We also put this framework to use in presenting our perspective on the current business cycle and implicat ...
... In this white paper, we provide a framework to help investors evaluate investment decisions at any point in the business cycle and set reasonable expectations for future investment performance. We also put this framework to use in presenting our perspective on the current business cycle and implicat ...
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%.