Has the Business Cycle Changed and Why?
... ployment in the 1990s was 0.73. The 1990s were also a period of quiescence for inflation: changes in annual price inflation, measured by the GDP deflator, has a relative standard deviation of 0.50. As noted by Kim, Nelson, and Piger (2001), Watson (1999), and Basistha and Startz (2001), the situatio ...
... ployment in the 1990s was 0.73. The 1990s were also a period of quiescence for inflation: changes in annual price inflation, measured by the GDP deflator, has a relative standard deviation of 0.50. As noted by Kim, Nelson, and Piger (2001), Watson (1999), and Basistha and Startz (2001), the situatio ...
Chapter Twelve - McGraw Hill Higher Education
... suffer economic harm. Because inflation alters the distribution of income, a major concern is the degree of equity, or fairness, in the distribution of income. Anyone who is on a fixed income is hurt by inflation since it reduces real income. For example, a person who earns $20,000 a year during an ...
... suffer economic harm. Because inflation alters the distribution of income, a major concern is the degree of equity, or fairness, in the distribution of income. Anyone who is on a fixed income is hurt by inflation since it reduces real income. For example, a person who earns $20,000 a year during an ...
Unemployment - Business @ UOW
... of significant job polarisation with the loss of jobs that were high in routine task intensity or low in the level of skill requirement. More specifically, the employment share of high skill jobs has increased substantially, there has been a large a large decline in the share of middle skill jobs an ...
... of significant job polarisation with the loss of jobs that were high in routine task intensity or low in the level of skill requirement. More specifically, the employment share of high skill jobs has increased substantially, there has been a large a large decline in the share of middle skill jobs an ...
Uncertainty Shocks in a Model of Effective Demand No. 12-15
... Kuester, and Rubio-Ramı̀rez (2011), and Gilchrist, Sim, and Zakrajšek (2010) also suggests that uncertainty shocks can cause fluctuations in macroeconomic aggregates. However, most of these papers experience difficulty in generating business cycle comovements among output, consumption, investment, ...
... Kuester, and Rubio-Ramı̀rez (2011), and Gilchrist, Sim, and Zakrajšek (2010) also suggests that uncertainty shocks can cause fluctuations in macroeconomic aggregates. However, most of these papers experience difficulty in generating business cycle comovements among output, consumption, investment, ...
chapter - Princeton University
... Figure 32-1 reviews the effects of an increase in the money supply according to the AD–AS model. The economy starts at E1, a point of short-run and long-run macroeconomic equilibrium. It lies at the intersection of the aggregate demand curve, AD1, and the short-run aggregate supply curve, SRAS1. It ...
... Figure 32-1 reviews the effects of an increase in the money supply according to the AD–AS model. The economy starts at E1, a point of short-run and long-run macroeconomic equilibrium. It lies at the intersection of the aggregate demand curve, AD1, and the short-run aggregate supply curve, SRAS1. It ...
The Introduction of the Euro in Central and Eastern European
... development and integration within the EU should lead Croatia in that direction. Since CEE countries started the accession process to the EU, economists have been interested in how their economic structures can cope with the more developed Western European economies. The reason for this interest is ...
... development and integration within the EU should lead Croatia in that direction. Since CEE countries started the accession process to the EU, economists have been interested in how their economic structures can cope with the more developed Western European economies. The reason for this interest is ...
economics-q.b-with answers
... Ans.12 Opportunity cost refers to the value of a factor in its next best alternative use. ...
... Ans.12 Opportunity cost refers to the value of a factor in its next best alternative use. ...
A Rehabilitation of Monetary Policy in the 1950`s
... reserves and interest rates, it typically changed the reserves target. In March 1955, for example, the FOMC expected that without open-market operations, there would be a large fall in free reserves with only slight upward pressure on rates. Since the Committee felt that some rise in rates was desir ...
... reserves and interest rates, it typically changed the reserves target. In March 1955, for example, the FOMC expected that without open-market operations, there would be a large fall in free reserves with only slight upward pressure on rates. Since the Committee felt that some rise in rates was desir ...
Does Geographical Diversification in International Trade Reduce
... has any mitigating effect on shocks of various origins. The results indicate that at higher levels of geographical diversification in trade, the adverse effects on output volatility of fiscal, financial and international shocks are significantly reduced while there is no statistically significant im ...
... has any mitigating effect on shocks of various origins. The results indicate that at higher levels of geographical diversification in trade, the adverse effects on output volatility of fiscal, financial and international shocks are significantly reduced while there is no statistically significant im ...
Global liquidity
... prices. Currently, a large number of countries still manage their currency exchange rates (only 30 countries – mainly advanced economies – were categorised as free-floating by the IMF in 2011).7 As a result, the ultimate transmission effects of global liquidity are composed of the effects associated ...
... prices. Currently, a large number of countries still manage their currency exchange rates (only 30 countries – mainly advanced economies – were categorised as free-floating by the IMF in 2011).7 As a result, the ultimate transmission effects of global liquidity are composed of the effects associated ...
Unemployment dynamics and NAIRU estimates for Accession countries: a univariate approach
... relationship dates back to the 60’s and 70’s. The concept of structural or “natural” rate of unemployment was …rst introduced by Friedman (1968) and Phelps (1968). According to this approach, in the long-run the structural rate of unemployment is reached and hence there is no long-term trade-o¤ betw ...
... relationship dates back to the 60’s and 70’s. The concept of structural or “natural” rate of unemployment was …rst introduced by Friedman (1968) and Phelps (1968). According to this approach, in the long-run the structural rate of unemployment is reached and hence there is no long-term trade-o¤ betw ...
ARE WORKERS’ REMITTANCES A HEDGE AGAINST MACROECONOMIC SHOCKS?
... The evolution of Sri Lanka’s inward remittances is broadly in line with the trend observed in global remittance flows. As a global aggregate, workers’ remittances have become the largest source of foreign financing after FDI, exceeding both ODA and portfolio investment by a wide margin. In 2005, rem ...
... The evolution of Sri Lanka’s inward remittances is broadly in line with the trend observed in global remittance flows. As a global aggregate, workers’ remittances have become the largest source of foreign financing after FDI, exceeding both ODA and portfolio investment by a wide margin. In 2005, rem ...
Estimation of Money Demand Function for Selected
... Figure 2. Quantity of Money Demand in Canada .............................................................. 8 Figure 3. Quantity of Money Demand in Hungary ............................................................ 9 Figure 4. Quantity of Money Demand in Iceland ................................... ...
... Figure 2. Quantity of Money Demand in Canada .............................................................. 8 Figure 3. Quantity of Money Demand in Hungary ............................................................ 9 Figure 4. Quantity of Money Demand in Iceland ................................... ...
Unemployed
... The Long Run Phillips Curve depicts the notion that the economy will remain at a particular level of unemployment (and output). It is represented as a straight vertical line as seen below. Attempts to move away from the long run level of unemployment by implementing expansionary policy will only res ...
... The Long Run Phillips Curve depicts the notion that the economy will remain at a particular level of unemployment (and output). It is represented as a straight vertical line as seen below. Attempts to move away from the long run level of unemployment by implementing expansionary policy will only res ...
How Has Globalization Affected Inflation?
... In international trade, the locational fragmentation in the production of manufactured goods and the growing importance of emerging market economies in world trade have reshaped many markets and industries. Measures of trade and financial integration obviously are highly correlated, and in the subse ...
... In international trade, the locational fragmentation in the production of manufactured goods and the growing importance of emerging market economies in world trade have reshaped many markets and industries. Measures of trade and financial integration obviously are highly correlated, and in the subse ...
The Determinants and Excessiveness of Current Account
... high and even growing current account deficits of the last decade. In this respect, the problem of external imbalances is particularly important for the Central and Eastern European (CEE) countries which joined the EU in May 2004 and have already expressed their desire to adopt the euro as soon as p ...
... high and even growing current account deficits of the last decade. In this respect, the problem of external imbalances is particularly important for the Central and Eastern European (CEE) countries which joined the EU in May 2004 and have already expressed their desire to adopt the euro as soon as p ...
The Current Account and the Interest Rate Differential in Canada
... study this version of the interest differential because it is widely used in the literature (see, for example, Letendre (2004), Nason and Rogers (2003), and Schmitt-Grohé and Uribe 2003). In this version, the interest differential worsens with a deterioration in the net foreign asset position. A ris ...
... study this version of the interest differential because it is widely used in the literature (see, for example, Letendre (2004), Nason and Rogers (2003), and Schmitt-Grohé and Uribe 2003). In this version, the interest differential worsens with a deterioration in the net foreign asset position. A ris ...
Free Full text
... associated with patterns of sectoral specialization that have implications for macroeconomic volatility. Specifically, they find that as countries grow, they tend to concentrate production in less risky sectors. The degree of sectoral concentration in production also appears to decline initially wit ...
... associated with patterns of sectoral specialization that have implications for macroeconomic volatility. Specifically, they find that as countries grow, they tend to concentrate production in less risky sectors. The degree of sectoral concentration in production also appears to decline initially wit ...
vsi09 cc Farmer 10154386 en
... nations. In particular, unilateral fiscal expansion was shown to reduce capital accumulation domestically and abroad (Lipton and Sachs, 1983). The economic reason for this decline in capital accumulation is that government debt implies an increase in the tax burden which reduces both savings and the ...
... nations. In particular, unilateral fiscal expansion was shown to reduce capital accumulation domestically and abroad (Lipton and Sachs, 1983). The economic reason for this decline in capital accumulation is that government debt implies an increase in the tax burden which reduces both savings and the ...
Combining Monetary and Fiscal Policy in an SVAR for a Small Open
... to 1 in 1950Q3, 1965Q1 and 1980Q1 and to 0 otherwise; later, researchers added 2001Q3 to capture the 9/11 event). Ramey (2011b) in addition studied a narrative news variable based on expected present values of government spending caused by military events as reported in news media. On the other hand ...
... to 1 in 1950Q3, 1965Q1 and 1980Q1 and to 0 otherwise; later, researchers added 2001Q3 to capture the 9/11 event). Ramey (2011b) in addition studied a narrative news variable based on expected present values of government spending caused by military events as reported in news media. On the other hand ...
Postwar Macroeconomics: The Evolution of Events and Ideas
... It is easiest to think of "aggregate demand" as final sales measured in current dollars, or "nominal final sales." This concept is equal to nominal GNP minus inventory change. Because inventory changes are unimportant over the long intervals examined in table 2.1, line I.A.I shows the growth rates o ...
... It is easiest to think of "aggregate demand" as final sales measured in current dollars, or "nominal final sales." This concept is equal to nominal GNP minus inventory change. Because inventory changes are unimportant over the long intervals examined in table 2.1, line I.A.I shows the growth rates o ...
CHAP1.WP (Word5)
... and endogenous variables, which are variables that are determined by the given set of exogenous variables through a known or theoretical relationship. To clarify the relationship between exogenous and endogenous variables, you might want to give the simplest example of a oneindependent-variable equa ...
... and endogenous variables, which are variables that are determined by the given set of exogenous variables through a known or theoretical relationship. To clarify the relationship between exogenous and endogenous variables, you might want to give the simplest example of a oneindependent-variable equa ...
Chapter 12 Aggregate Supply, Aggregate Demand
... we explained economic theories concerning fiscal and monetary policy. So far our models have all been "demand side," illustrated by shifts of the Aggregate Demand curve. In this chapter, we complete the demand side story so that it includes explicit attention to the upturn side of the story and the ...
... we explained economic theories concerning fiscal and monetary policy. So far our models have all been "demand side," illustrated by shifts of the Aggregate Demand curve. In this chapter, we complete the demand side story so that it includes explicit attention to the upturn side of the story and the ...
How have world shocks affected the UK economy?
... stress in international banking systems and money markets. As the crisis escalated, credit conditions tightened and households and firms became more uncertain about the outlook for activity across many advanced economies. The crisis was associated with a severe downturn in the United Kingdom, as dem ...
... stress in international banking systems and money markets. As the crisis escalated, credit conditions tightened and households and firms became more uncertain about the outlook for activity across many advanced economies. The crisis was associated with a severe downturn in the United Kingdom, as dem ...