2002 Japan Conference: A Summary of the Papers
... Although strong corporate affiliations encouraged economic growth during the boom times, for example by making credit more available and investment less sensitive to internal cash flows, these same affiliations might inhibit an economic recovery when the economy needs major restructuring. Firms whos ...
... Although strong corporate affiliations encouraged economic growth during the boom times, for example by making credit more available and investment less sensitive to internal cash flows, these same affiliations might inhibit an economic recovery when the economy needs major restructuring. Firms whos ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... gold throughout, such as Scandinavia and North America since the late 1870s, whereas others experimented with distinct monetary regimes such as bimetallism, temporary gold-pegs, and plain inconvertible paper money; none of these regimes could prevent a capital importer from being hit by an SS.7 Thes ...
... gold throughout, such as Scandinavia and North America since the late 1870s, whereas others experimented with distinct monetary regimes such as bimetallism, temporary gold-pegs, and plain inconvertible paper money; none of these regimes could prevent a capital importer from being hit by an SS.7 Thes ...
Ch - Pearson Canada
... cost of producing one more unit of a good or service. It is the best alternative forgone. It is calculated as the increase in total cost divided by the increase in output. Any arrangement that enables buyers and sellers to get information and to do business with each other. Any commodity or token th ...
... cost of producing one more unit of a good or service. It is the best alternative forgone. It is calculated as the increase in total cost divided by the increase in output. Any arrangement that enables buyers and sellers to get information and to do business with each other. Any commodity or token th ...
Chapter No. 11
... individuals will hold for a given level of transactions, and the higher the velocity of money. The transactions demand for money is also affected by technology, as financial innovation allows people to limit the amount of money they hold. The lower the cost of shifting money between accounts, the lo ...
... individuals will hold for a given level of transactions, and the higher the velocity of money. The transactions demand for money is also affected by technology, as financial innovation allows people to limit the amount of money they hold. The lower the cost of shifting money between accounts, the lo ...
Chapter 21 : What Macroeconomics Is All About?
... the preceding 13 years, an average annual rate of increase of 3.82 percent. The CPI is not a perfect measure of the cost of living because it does not account for quality improvements or for the tendency of consumers to purchase more of things whose prices fall, (and less of things whose prices rise ...
... the preceding 13 years, an average annual rate of increase of 3.82 percent. The CPI is not a perfect measure of the cost of living because it does not account for quality improvements or for the tendency of consumers to purchase more of things whose prices fall, (and less of things whose prices rise ...
Inflation and Unemployment: The Phillips Curve
... Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflation raises the real wage rate, decreases the quantity of labor demanded, and increases the unemployment rat ...
... Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflation raises the real wage rate, decreases the quantity of labor demanded, and increases the unemployment rat ...
Inflation and Unemployment: The Phillips Curve
... Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflation raises the real wage rate, decreases the quantity of labor demanded, and increases the unemployment rat ...
... Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflation raises the real wage rate, decreases the quantity of labor demanded, and increases the unemployment rat ...
EC 102
... Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes a. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased. b. your nominal wage increase. If your nominal wage rose b ...
... Your boss gives you an increase in the number of dollars you earn per hour. This increase in pay makes a. your nominal wage increase. If your nominal wage rose by a greater percentage than the price level, then your real wage also increased. b. your nominal wage increase. If your nominal wage rose b ...
Document
... Higher than anticipated inflation lowers the real wage rate and employers gain at the expense of workers. Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of la ...
... Higher than anticipated inflation lowers the real wage rate and employers gain at the expense of workers. Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of la ...
The U.S. Economy in the 1990s: A Neoliberal Success Story?
... 1990s.6 To remove the influence of cyclical factors, we compared the profit rate peak in 1996 to a cyclical profit rate peak prior to the late 1970s. There were two cyclical peaks in the rate of profit that occurred after the 1960s but before the beginning of neoliberal restructuring, one in 1972 an ...
... 1990s.6 To remove the influence of cyclical factors, we compared the profit rate peak in 1996 to a cyclical profit rate peak prior to the late 1970s. There were two cyclical peaks in the rate of profit that occurred after the 1960s but before the beginning of neoliberal restructuring, one in 1972 an ...
Are pension funds good for sustainable development?
... In this paper we analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations, which is the natural intertemporal approach for this kind of issue. Modelling of the OLG setting and the inclusion of non-renewable resources draws on the contributions of Quang and Vou ...
... In this paper we analyse long-term consumption paths in a dynamic two-sector economy with overlapping generations, which is the natural intertemporal approach for this kind of issue. Modelling of the OLG setting and the inclusion of non-renewable resources draws on the contributions of Quang and Vou ...
NBER WORKING PAPER SERIES IDIOSYNCRATIC PRODUCTION RISK, GROWTH AND THE BUSINESS CYCLE
... mechanism over the business cycle. This result hinges on the property that the risk premium on private capital is endogenously countercyclical. The expectation of a recession in the near future implies a low willingness to take risk in the present, which in turn discourages current investment, ampli ...
... mechanism over the business cycle. This result hinges on the property that the risk premium on private capital is endogenously countercyclical. The expectation of a recession in the near future implies a low willingness to take risk in the present, which in turn discourages current investment, ampli ...
NBER WORKING PAPER SERIES FISCAL DEFICITS AND RELATIVE PRICES IN A
... borrow abroad to bring about this portfolio allocation without disturbing ...
... borrow abroad to bring about this portfolio allocation without disturbing ...
The New IS-LM Model: Language, Logic, and Limits
... not using microfoundations as a guide to the specification of estimable equations and also for avoiding central issues of identification (Sims 1980, Sargent 1981). The rational expectations revolution suggested that new macroeconomic frameworks were necessary—both small analytical frameworks like th ...
... not using microfoundations as a guide to the specification of estimable equations and also for avoiding central issues of identification (Sims 1980, Sargent 1981). The rational expectations revolution suggested that new macroeconomic frameworks were necessary—both small analytical frameworks like th ...
The Role of Government: Impact on Macroeconomy
... Education – investment in human capital – is just as important as investment in physical capital for a country’s long run economic success. Thus, one way the government can enhance the standard of living is to provide good schools and to encourage the population to take advantage of them. Some econo ...
... Education – investment in human capital – is just as important as investment in physical capital for a country’s long run economic success. Thus, one way the government can enhance the standard of living is to provide good schools and to encourage the population to take advantage of them. Some econo ...
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... workers, workers who are only marginally attached to the labor force, and those who work parttime because full-time work is not available to them. The distinction between real and nominal interest rates is also very important. Nominal interest rates represent the actual rate of return on financial i ...
... workers, workers who are only marginally attached to the labor force, and those who work parttime because full-time work is not available to them. The distinction between real and nominal interest rates is also very important. Nominal interest rates represent the actual rate of return on financial i ...
GROwTh IMPERATIvE IN CAPITALIST
... pay their operating expenses, and invest in machines and equipment (the amount is credited to firms’ accounts), and pay out dividends (the amount is credited to the accounts of shareholders).9 However, a portion of banks’ profits (retained profits) remains in accounts in the bank’s own name; therefo ...
... pay their operating expenses, and invest in machines and equipment (the amount is credited to firms’ accounts), and pay out dividends (the amount is credited to the accounts of shareholders).9 However, a portion of banks’ profits (retained profits) remains in accounts in the bank’s own name; therefo ...
paper - Pascal Michaillat
... inflation to unemployment. The mechanism behind the Phillips curve is the following. When unemployment is high, sellers do not sell much, which pushes them to reduce their prices to attract customers, thus generating low inflation. Conversely, when unemployment is low, sellers sell a lot but at a lo ...
... inflation to unemployment. The mechanism behind the Phillips curve is the following. When unemployment is high, sellers do not sell much, which pushes them to reduce their prices to attract customers, thus generating low inflation. Conversely, when unemployment is low, sellers sell a lot but at a lo ...
Document
... to the uncertainties of economic life. Highly variable inflation rates cause great uncertainty. If all financial contracts are written to incorporate a fullyanticipated inflation, then inflation will have no real effects. An unanticipated inflation benefits anyone who has an obligation to pay money, ...
... to the uncertainties of economic life. Highly variable inflation rates cause great uncertainty. If all financial contracts are written to incorporate a fullyanticipated inflation, then inflation will have no real effects. An unanticipated inflation benefits anyone who has an obligation to pay money, ...
Average Convergence Rate of Evolutionary Algorithms
... rate of genetic algorithms can be classified into two categories. The first category is related to the eigenvalues of the transition matrix associated with an EA. A lower bound of convergence rate is derived in [2] for simple genetic algorithms by analyzing eigenvalues of the transition matrix. Then ...
... rate of genetic algorithms can be classified into two categories. The first category is related to the eigenvalues of the transition matrix associated with an EA. A lower bound of convergence rate is derived in [2] for simple genetic algorithms by analyzing eigenvalues of the transition matrix. Then ...
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.