Outlook for Economic Activity and Prices (April 2016, full text)
... economies.9 Going forward, the tightening of labor market conditions is likely to continue, accompanied by a moderate decline in the unemployment rate, and upward pressure on wages such as part-time employees' hourly cash earnings is projected to heighten. Capacity utilization rates also are expect ...
... economies.9 Going forward, the tightening of labor market conditions is likely to continue, accompanied by a moderate decline in the unemployment rate, and upward pressure on wages such as part-time employees' hourly cash earnings is projected to heighten. Capacity utilization rates also are expect ...
NBER WORKING PAPER SERIES PERCEPTIONS AND MISPERCEPTIONS OF FISCAL INFLATION
... phenomena. It is also reflected in the widespread adoption of inflation targeting by central banks, but the nearly complete absence of the adoption of compatible fiscal frameworks. The Great Recession and accompanying worldwide financial crisis have brought an abrupt halt to researchers’ benign neglect ...
... phenomena. It is also reflected in the widespread adoption of inflation targeting by central banks, but the nearly complete absence of the adoption of compatible fiscal frameworks. The Great Recession and accompanying worldwide financial crisis have brought an abrupt halt to researchers’ benign neglect ...
Quantitative Easing and the Liquidity Channel of Monetary Policy
... of money holdings arising from idiosyncratic trading history, and diminishing marginal utility of money implies that interventions which compress the distribution of money holdings (e.g., helicopter drops) can be welfare-enhancing. This is in stark contrast to the model here, where households hold m ...
... of money holdings arising from idiosyncratic trading history, and diminishing marginal utility of money implies that interventions which compress the distribution of money holdings (e.g., helicopter drops) can be welfare-enhancing. This is in stark contrast to the model here, where households hold m ...
24.3 Implementing Monetary Policy: Tools of the Fed
... network environment that prevents downloading or reproducing the copyrighted material. Otherwise, no part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including, but not limited to, photocopying, recording, tap ...
... network environment that prevents downloading or reproducing the copyrighted material. Otherwise, no part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including, but not limited to, photocopying, recording, tap ...
2. The Sacrifice Ratio - Hal-SHS
... both traditional and VAR models) to obtain estimates of U.S. sacrifice ratios that range from 0 to 8, with a mean of about 5% (less than half of Okun's value). Cuñado & de Gracia (2003) also use a Phillips curve modelling to estimate individual and common sacrifice ratios for EMU countries over the ...
... both traditional and VAR models) to obtain estimates of U.S. sacrifice ratios that range from 0 to 8, with a mean of about 5% (less than half of Okun's value). Cuñado & de Gracia (2003) also use a Phillips curve modelling to estimate individual and common sacrifice ratios for EMU countries over the ...
Bank of England Inflation Report February 2010
... The world economy continued to recover, although global activity remained well below pre-crisis trends. After falling substantially, output in the United Kingdom stabilised in the second half of 2009 and a period of gradual expansion is in prospect. The outlook for growth is underpinned by the consi ...
... The world economy continued to recover, although global activity remained well below pre-crisis trends. After falling substantially, output in the United Kingdom stabilised in the second half of 2009 and a period of gradual expansion is in prospect. The outlook for growth is underpinned by the consi ...
Inflation is
... Source: International Financial Statistics Yearbook, 1992, (Washington DC: International Monetary Fund) ...
... Source: International Financial Statistics Yearbook, 1992, (Washington DC: International Monetary Fund) ...
How Do Monetary and Fiscal Policy Shocks Explain US
... signi…cantly and persistently increase in response to a positive government spending shock. Edelberg et al. (1999) and Mountford and Uhlig (2009) provide evidence that the response of private consumption is close to zero and statistically insigni…cant over the entire impulse response horizon. Ramey ...
... signi…cantly and persistently increase in response to a positive government spending shock. Edelberg et al. (1999) and Mountford and Uhlig (2009) provide evidence that the response of private consumption is close to zero and statistically insigni…cant over the entire impulse response horizon. Ramey ...
The Lender`s View of Debt and Equity: The Case
... separate from the corporation. Legally these funds are trusts, and funding and asset allocation decisions are supposed to be made in the best interests of the beneficiaries, regardless of the financial condition of the sponsoring organization. The pensions offered under a defined benefit plan are be ...
... separate from the corporation. Legally these funds are trusts, and funding and asset allocation decisions are supposed to be made in the best interests of the beneficiaries, regardless of the financial condition of the sponsoring organization. The pensions offered under a defined benefit plan are be ...
AP 宏觀經濟學講義
... This section introduces the aggregate supply and aggregate demand model to explain the determination of equilibrium national output and the general price level, as well as to analyze and evaluate the effects of public policy. It is important to discuss the aggregate demand and aggregate supply conce ...
... This section introduces the aggregate supply and aggregate demand model to explain the determination of equilibrium national output and the general price level, as well as to analyze and evaluate the effects of public policy. It is important to discuss the aggregate demand and aggregate supply conce ...
Chapter 12 - Dr. George Fahmy
... sloped, increases in aggregate demand raise both output and the price level. A. W. Phillips, investigating unemployment and price/wage increases over time, found that low rates of unemployment in Great Britain were associated with high rates of price/wage rate increase, while higher levels of unempl ...
... sloped, increases in aggregate demand raise both output and the price level. A. W. Phillips, investigating unemployment and price/wage increases over time, found that low rates of unemployment in Great Britain were associated with high rates of price/wage rate increase, while higher levels of unempl ...
2010 - About KLP
... A large proportion of the Company’s future claims payments is linked to inflation and the development of the National Insurance basic sum - ”G”. To meet the risk of increased inflation and high G-growth, the Company has increased its property investments in the course of 2010 and established a portf ...
... A large proportion of the Company’s future claims payments is linked to inflation and the development of the National Insurance basic sum - ”G”. To meet the risk of increased inflation and high G-growth, the Company has increased its property investments in the course of 2010 and established a portf ...
QFI CORE Model Solutions Fall 2014
... A zero mean reverting process is one with a zero mean in the long run. This means that E ( X t ) = 0 as t ∞, which holds true for the given process. The speed at which it reaches zero is controlled by the parameter α. The larger this value, the faster the process will return to zero. (d) ...
... A zero mean reverting process is one with a zero mean in the long run. This means that E ( X t ) = 0 as t ∞, which holds true for the given process. The speed at which it reaches zero is controlled by the parameter α. The larger this value, the faster the process will return to zero. (d) ...
Debt, Recovery Rates and the Greek Dilemma - Eureka
... We believe that studying them and their implications for creditor debt policies would be additional to studying the more fundamental TFP shocks the country experienced. Finally, any shocks that reduce the capital stock and/or national income directly that do not depend on the business cycle can be s ...
... We believe that studying them and their implications for creditor debt policies would be additional to studying the more fundamental TFP shocks the country experienced. Finally, any shocks that reduce the capital stock and/or national income directly that do not depend on the business cycle can be s ...
In The Vanguard Core Edition Summer 2012
... Volatile markets, historically low bond yields, a shaky global economy, and an uncertain outlook for the future have prompted some in the financial community to raise the alarm: “It’s different this time.” “It’s a new normal.” “It’s a brave new world.” It’s a provocative message. It’s compelling. Bu ...
... Volatile markets, historically low bond yields, a shaky global economy, and an uncertain outlook for the future have prompted some in the financial community to raise the alarm: “It’s different this time.” “It’s a new normal.” “It’s a brave new world.” It’s a provocative message. It’s compelling. Bu ...
apers g P orkin al Bank W
... crucial link through which adverse macroeconomic developments can cause financial instability. 1 Episodes of asset price booms are seen by many as raising the risk of a future sharp “correction” of prices, which could have immediate repercussions on the stability of financial institutions. Indeed, m ...
... crucial link through which adverse macroeconomic developments can cause financial instability. 1 Episodes of asset price booms are seen by many as raising the risk of a future sharp “correction” of prices, which could have immediate repercussions on the stability of financial institutions. Indeed, m ...
PDF
... same no matter where the claim to the dollar is located. Thus, the equality = 4 holds true (as does the corresponding equality for any other, currency). Empirical studies have pursued this implication of perfect capital mobility by comparing nominal currency interest rates in different financial cen ...
... same no matter where the claim to the dollar is located. Thus, the equality = 4 holds true (as does the corresponding equality for any other, currency). Empirical studies have pursued this implication of perfect capital mobility by comparing nominal currency interest rates in different financial cen ...
New method
... FISIM for the borrowers = Actual interest income of loans – Annual average loans of financial institutions ×Reference rate ...
... FISIM for the borrowers = Actual interest income of loans – Annual average loans of financial institutions ×Reference rate ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... Monetary change in this' period was due primarily to two factors. One was the reduction in the government's borrowing from the banking system, which was associated with a reduction of the government's excess demand. This reduction may be seen in the data on the government's internal debt (column 1), ...
... Monetary change in this' period was due primarily to two factors. One was the reduction in the government's borrowing from the banking system, which was associated with a reduction of the government's excess demand. This reduction may be seen in the data on the government's internal debt (column 1), ...
The Relationship between Stock Returns and Macroeconomic
... other factors such as inflation, exchange rate, money supply, and industrial productions. As to causal relationships, the results of the study based on Granger causality test indicate that the bidirectional causal relationship exists between and overnight interest rate (OIR) and stock returns, which ...
... other factors such as inflation, exchange rate, money supply, and industrial productions. As to causal relationships, the results of the study based on Granger causality test indicate that the bidirectional causal relationship exists between and overnight interest rate (OIR) and stock returns, which ...
Interim Report of the Commission of Enquiry_0
... excessive volatility in the forex market. Since high volatility is normally associated with uncertain and sharp price movements, authorised dealers will tend to increase the gap or spread between the buying and selling rates. The banks are reluctant to trade during such times by virtue of the fact t ...
... excessive volatility in the forex market. Since high volatility is normally associated with uncertain and sharp price movements, authorised dealers will tend to increase the gap or spread between the buying and selling rates. The banks are reluctant to trade during such times by virtue of the fact t ...
Interest rate
An interest rate is the rate at which interest is paid by borrowers (debtors) for the use of money that they borrow from lenders (creditors). Specifically, the interest rate is a percentage of principal paid a certain number of times per period for all periods during the total term of the loan or credit. Interest rates are normally expressed as a percentage of the principal for a period of one year, sometimes they are expressed for different periods such as a month or a day. Different interest rates exist parallelly for the same or comparable time periods, depending on the default probability of the borrower, the residual term, the payback currency, and many more determinants of a loan or credit. For example, a company borrows capital from a bank to buy new assets for its business, and in return the lender receives rights on the new assets as collateral and interest at a predetermined interest rate for deferring the use of funds and instead lending it to the borrower.Interest-rate targets are a vital tool of monetary policy and are taken into account when dealing with variables like investment, inflation, and unemployment. The central banks of countries generally tend to reduce interest rates when they wish to increase investment and consumption in the country's economy. However, a low interest rate as a macro-economic policy can be risky and may lead to the creation of an economic bubble, in which large amounts of investments are poured into the real-estate market and stock market. In developed economies, interest-rate adjustments are thus made to keep inflation within a target range for the health of economic activities or cap the interest rate concurrently with economic growth to safeguard economic momentum.