Presentation by Liqing Zhang, Zhigang Huang
... changes in theoretical. High economic growth brings high income of household, so the demand of house increases, and pulls asset prices up. Unfortunately, this effect is not significant in China (Figure 6). It might be existed other factor to diminish this effect. ...
... changes in theoretical. High economic growth brings high income of household, so the demand of house increases, and pulls asset prices up. Unfortunately, this effect is not significant in China (Figure 6). It might be existed other factor to diminish this effect. ...
School of Oriental and African Studies University of London London
... there is a third practical consideration affecting the theory, measurement and interpretation of changes in composite measures of prices, qualitative changes in commodities. The term inflation refers to the behavior of prices in chronological time. In every economy as time passes qualitative improve ...
... there is a third practical consideration affecting the theory, measurement and interpretation of changes in composite measures of prices, qualitative changes in commodities. The term inflation refers to the behavior of prices in chronological time. In every economy as time passes qualitative improve ...
Inflation Targeting and the Global Financial Crisis: Successes and Challenges
... repeated? The answer to that question may be best found by looking further into the past rather than focusing on recent history. In considering the likelihood of another bout with the ZLB, one important factor is the probability of another severe recession of the kind the United States and many othe ...
... repeated? The answer to that question may be best found by looking further into the past rather than focusing on recent history. In considering the likelihood of another bout with the ZLB, one important factor is the probability of another severe recession of the kind the United States and many othe ...
Unemployment in East and West Europe - Deep Blue
... and VS curves then gives the equilibrium rate of unemployment and vacancies. The advantage of this framework is that it relies on relatively well measured economic indicators for which we have long and consistent time series and which are comparable across the countries that we study. < Graph 1: abo ...
... and VS curves then gives the equilibrium rate of unemployment and vacancies. The advantage of this framework is that it relies on relatively well measured economic indicators for which we have long and consistent time series and which are comparable across the countries that we study. < Graph 1: abo ...
Econ311Handout1
... 2. Why hold money at all? In general, it pays a very low rate of return (currency pays a zero nominal return). There must be some benefit to holding money, but what are these benefits? The answer is money's liquidity. Money is the most liquid of all assets. The liquidity of an asset is the ease and ...
... 2. Why hold money at all? In general, it pays a very low rate of return (currency pays a zero nominal return). There must be some benefit to holding money, but what are these benefits? The answer is money's liquidity. Money is the most liquid of all assets. The liquidity of an asset is the ease and ...
Francisco Gomes* Alexander Michaelides CRR WP 2003-16
... has therefore become an important public policy issue for many countries and various reform proposals have been recently put forth. Given the importance of understanding the aggregate and welfare implications of different social security systems existing in the OECD, a number of recent papers have in ...
... has therefore become an important public policy issue for many countries and various reform proposals have been recently put forth. Given the importance of understanding the aggregate and welfare implications of different social security systems existing in the OECD, a number of recent papers have in ...
十四 Asset Valuation: Debt Investments: Basic Concepts
... Zero-coupon bonds: zero-coupon bonds are bonds that do not pay interest. If you are wondering why any investor would buy such a security, the answer lies in the fact that such securities always sell below their par value prior to maturity. The difference, F-P, between their selling price (P) and fac ...
... Zero-coupon bonds: zero-coupon bonds are bonds that do not pay interest. If you are wondering why any investor would buy such a security, the answer lies in the fact that such securities always sell below their par value prior to maturity. The difference, F-P, between their selling price (P) and fac ...
NBER WORKING PAPER SERIES FISCAL POLICY IN THE AFTERMATH OF 9/11
... beginning of these episodes. There also appears to be a significant buildup in real defense expenditures around the period of 9/11. In our economic model, it is total government consumption, rather than military purchases that is relevant. As Figure 1 reveals, the Ramey-Shapiro and 9/11 episodes als ...
... beginning of these episodes. There also appears to be a significant buildup in real defense expenditures around the period of 9/11. In our economic model, it is total government consumption, rather than military purchases that is relevant. As Figure 1 reveals, the Ramey-Shapiro and 9/11 episodes als ...
Demand-Pull Inflation
... 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 ...
Chapter 13 - Fiscal Policy
... • Every bank holds secondary reserves, mainly in the form of very short-term U.S. government securities – Treasury bills, notes, certificates, and bonds (that will mature in less than a year) are generally considered a bank’s secondary reserves – These can be quickly converted to cash without loss i ...
... • Every bank holds secondary reserves, mainly in the form of very short-term U.S. government securities – Treasury bills, notes, certificates, and bonds (that will mature in less than a year) are generally considered a bank’s secondary reserves – These can be quickly converted to cash without loss i ...
Model 3: with Interest Rates
... government expenditure. In particular, the more government spent, the higher was the output level. Importantly, however, the models were timeless models (with no future to worry about), and they assumed that there were no supply constraints. • Essentially, the government could increase output withou ...
... government expenditure. In particular, the more government spent, the higher was the output level. Importantly, however, the models were timeless models (with no future to worry about), and they assumed that there were no supply constraints. • Essentially, the government could increase output withou ...
Information Technology and Monetary Policy
... policy. The targets of monetary policy—low inflation and stable output, for example—are harder to define and to measure when information goods and services are a large or growing part of the economy. The instruments of monetary policy—in particular, the monetary aggregates—also become harder to defi ...
... policy. The targets of monetary policy—low inflation and stable output, for example—are harder to define and to measure when information goods and services are a large or growing part of the economy. The instruments of monetary policy—in particular, the monetary aggregates—also become harder to defi ...
Receivables
... maturity value to the new payee, then the original payee legally must pay the bank the amount due. ...
... maturity value to the new payee, then the original payee legally must pay the bank the amount due. ...
Document
... interest rates), and by taking account of several other factors mentioned in the final sub-paragraph of Article 121(1). The four convergence criteria are developed further in a Protocol annexed to the Treaty (Protocol No 21 on the convergence criteria). The examination of the compatibility of nation ...
... interest rates), and by taking account of several other factors mentioned in the final sub-paragraph of Article 121(1). The four convergence criteria are developed further in a Protocol annexed to the Treaty (Protocol No 21 on the convergence criteria). The examination of the compatibility of nation ...
Stephen
... the other. The paper demonstrates how the appropriate form of exchange market intervention is sensitive to these aspects of the disturbances. Of particular interest is the case of an unanticipated permanent disturbance, when output may be stabilized perfectly about its friction— less level by the us ...
... the other. The paper demonstrates how the appropriate form of exchange market intervention is sensitive to these aspects of the disturbances. Of particular interest is the case of an unanticipated permanent disturbance, when output may be stabilized perfectly about its friction— less level by the us ...
This PDF is a selection from a published volume
... which was mainly studied by the previous traditional literature. This switch of interest was partly initiated by the findings of Engel (1999), who, using U.S. data, showed that the volatility of the real exchange rate can be explained nearly perfectly by the movements of the external real exchange r ...
... which was mainly studied by the previous traditional literature. This switch of interest was partly initiated by the findings of Engel (1999), who, using U.S. data, showed that the volatility of the real exchange rate can be explained nearly perfectly by the movements of the external real exchange r ...
Document
... 5-2 Financial Markets and the LM Relation Deriving the LM Curve a) An increase in income leads, at a given b) Equilibrium in the financial interest rate, to an increase in the demand for markets implies that an The Derivation of the money. Given the money supply, this increase increase in income le ...
... 5-2 Financial Markets and the LM Relation Deriving the LM Curve a) An increase in income leads, at a given b) Equilibrium in the financial interest rate, to an increase in the demand for markets implies that an The Derivation of the money. Given the money supply, this increase increase in income le ...
PLEASE DO NOT QUOTE A Small Estimated Model (SEM) for New Zealand
... given the intended short to medium term forecast horizon for SEM (of up to, say, 8 quarters), the profile for interest rates, however it is determined, will not materially affect the overall model forecasts. ...
... given the intended short to medium term forecast horizon for SEM (of up to, say, 8 quarters), the profile for interest rates, however it is determined, will not materially affect the overall model forecasts. ...
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.