Ogbokor. Is Namibia`s inflation import driven
... phenomenon, the first determinant of inflation we consider in this study is the rate of money supply (M2) growth. Since there are some lags in the impact of monetary policy on the real variables we also include first lag of money supply (M2) growth. To see how the availability of goods and services ...
... phenomenon, the first determinant of inflation we consider in this study is the rate of money supply (M2) growth. Since there are some lags in the impact of monetary policy on the real variables we also include first lag of money supply (M2) growth. To see how the availability of goods and services ...
Chapter 16 Money in macroeconomics
... The following three functions are sometimes considered to be the de…nitional characteristics of money: 1. It is a generally accepted medium of exchange. 2. It is a store of value. 3. It serves as a unit of account in which prices are quoted and books kept (the numeraire). On can argue, however, that ...
... The following three functions are sometimes considered to be the de…nitional characteristics of money: 1. It is a generally accepted medium of exchange. 2. It is a store of value. 3. It serves as a unit of account in which prices are quoted and books kept (the numeraire). On can argue, however, that ...
Real-Time Estimation of Trend Output and Kevin J. Lansing *
... cian believed that Fed policymakers were responding to the deviation of nominal income growth from a long-run target growth rate. Over the course of 1,000 model simulations, I find that the econometrician almost always obtains a positive and strongly significant regression coefficient on the lagged fed ...
... cian believed that Fed policymakers were responding to the deviation of nominal income growth from a long-run target growth rate. Over the course of 1,000 model simulations, I find that the econometrician almost always obtains a positive and strongly significant regression coefficient on the lagged fed ...
Origins and Measurement of Financial Repression: The
... economic growth and financial repression may not be mutually exclusive. For example, many of the countries that Reinhart and Sbrancia argue as having actively engaged in financial repression following the Second World War also managed to generate outsized economic growth. From 1948 to 1973 the r ...
... economic growth and financial repression may not be mutually exclusive. For example, many of the countries that Reinhart and Sbrancia argue as having actively engaged in financial repression following the Second World War also managed to generate outsized economic growth. From 1948 to 1973 the r ...
chapter1
... • The Exchange Rate – governs the terms on which international trade and investment take place – the nominal exchange rate is the rate at which monies of different countries can be exchanged for one another – the real exchange rate is the rate at which the goods and services produced in different co ...
... • The Exchange Rate – governs the terms on which international trade and investment take place – the nominal exchange rate is the rate at which monies of different countries can be exchanged for one another – the real exchange rate is the rate at which the goods and services produced in different co ...
measuring the services of commercial banks in the
... keeps loans from being priced at levels that yield economic profits (profits in excess of a normal return on capital), we can expect an equilibrium where banks are indifferent between investment opportunities at the margin. Borrowers from banks are willing to pay a margin over the reference rate bec ...
... keeps loans from being priced at levels that yield economic profits (profits in excess of a normal return on capital), we can expect an equilibrium where banks are indifferent between investment opportunities at the margin. Borrowers from banks are willing to pay a margin over the reference rate bec ...
Alternative fiscal rules for the new eu member states
... France, not to mention Greece’s fulfillment of the constraint only thanks to acknowledged falsification of national accounts – without the application of any penalties; the same applies to the non-EMU-member UK for the last two years. Second, the 3% ceiling has been considerably softened by the Marc ...
... France, not to mention Greece’s fulfillment of the constraint only thanks to acknowledged falsification of national accounts – without the application of any penalties; the same applies to the non-EMU-member UK for the last two years. Second, the 3% ceiling has been considerably softened by the Marc ...
PDF
... variables grow at constant (possibly zero) rates. Furthermore, its transition properties, which were unclear in this original paper, have been described in a number of subsequent studies on this topic. Important contributions in this line of research include Mulligan and Sala-i-Martin (1992), Caball ...
... variables grow at constant (possibly zero) rates. Furthermore, its transition properties, which were unclear in this original paper, have been described in a number of subsequent studies on this topic. Important contributions in this line of research include Mulligan and Sala-i-Martin (1992), Caball ...
Money, Interest, and Capital Accumulation in Karl Marx`s
... crisis. In the second part of the paper we will show that Marx’s theory of labour value has to be considered a „monetary theory of value“ because „abstract labour“ as the social substance of value cannot be measured without a social standard of value. Money as a social representative of value, there ...
... crisis. In the second part of the paper we will show that Marx’s theory of labour value has to be considered a „monetary theory of value“ because „abstract labour“ as the social substance of value cannot be measured without a social standard of value. Money as a social representative of value, there ...
Document
... how much should Congress increase G to end the recession? B. If there is crowding out, will Congress need to ...
... how much should Congress increase G to end the recession? B. If there is crowding out, will Congress need to ...
Inflation Report 4/2000
... inflation in Norway is gradually reduced to the level aimed at by the European Central Bank (ECB). At the same time, monetary policy must not in itself contribute to deflationary recessions as this could undermine confidence in the krone. The labour market is tight. The rate of increase in labour co ...
... inflation in Norway is gradually reduced to the level aimed at by the European Central Bank (ECB). At the same time, monetary policy must not in itself contribute to deflationary recessions as this could undermine confidence in the krone. The labour market is tight. The rate of increase in labour co ...
Chapter 13 power point
... • As consumers cut back on purchases, other goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
... • As consumers cut back on purchases, other goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
`Open Access` in Electricity - Central Electricity Regulatory Commission
... sector in the next 8-9 years also has to be seen. – Considering the above, lenders may not be willing to lend at the same 70:30 debt-equity ratio and may insist on a better debt-equity ratio. – Moreover, credit profile of the borrower would also determine the debtequity ratio being offered to him. F ...
... sector in the next 8-9 years also has to be seen. – Considering the above, lenders may not be willing to lend at the same 70:30 debt-equity ratio and may insist on a better debt-equity ratio. – Moreover, credit profile of the borrower would also determine the debtequity ratio being offered to him. F ...
Interest groups and investment: A further test of the Olson hypothesis
... evidence for this offsetting effect. Both studies found a harmful effect of “Putnam-groups” on investment share. Knack (2002) reports the high positive correlation between his “Putnam-groups” variable and our special interest group variable for the 27 countries which overlap in our samples. Most of ...
... evidence for this offsetting effect. Both studies found a harmful effect of “Putnam-groups” on investment share. Knack (2002) reports the high positive correlation between his “Putnam-groups” variable and our special interest group variable for the 27 countries which overlap in our samples. Most of ...
Metroeconomica paper outline proposal (10-04-03)
... π&t > 0 in equation 1. Changes in the inflation rate are thus signalling the unwarranted growth of aggregate demand in excess of the growth of aggregate supply. By appropriately adjusting the nominal interest rate to changes in the inflation rate CBs can then bring current output in line with potent ...
... π&t > 0 in equation 1. Changes in the inflation rate are thus signalling the unwarranted growth of aggregate demand in excess of the growth of aggregate supply. By appropriately adjusting the nominal interest rate to changes in the inflation rate CBs can then bring current output in line with potent ...
Sectoral Analysis
... theory of interest rate determination: The optimal stock of capital is determined at the point where the declining MPk is equated with the real interest rate, which is set separately and externally. Interest rate is determined in the money market where the demand for liquidity or real money is equal ...
... theory of interest rate determination: The optimal stock of capital is determined at the point where the declining MPk is equated with the real interest rate, which is set separately and externally. Interest rate is determined in the money market where the demand for liquidity or real money is equal ...
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.