Introduction to Economic Growth and Instability
... D. Cyclical fluctuations: Durable goods output is more unstable than non-durables and services because spending on latter usually can not be postponed. Unemployment (One Result of Economic Downturns) A. Types of unemployment: 1. Frictional unemployment consists of those searching for jobs or waiting ...
... D. Cyclical fluctuations: Durable goods output is more unstable than non-durables and services because spending on latter usually can not be postponed. Unemployment (One Result of Economic Downturns) A. Types of unemployment: 1. Frictional unemployment consists of those searching for jobs or waiting ...
Microsoft Word - Jakubik_Case_Study_082011
... testing. The scenarios are generated using macroeconomic modeling, which is performed in a similar way to that for monetary policy purposes. However, these techniques are usually problematic under adverse scenarios as they tend to underestimate the magnitude of the responses of key variables to larg ...
... testing. The scenarios are generated using macroeconomic modeling, which is performed in a similar way to that for monetary policy purposes. However, these techniques are usually problematic under adverse scenarios as they tend to underestimate the magnitude of the responses of key variables to larg ...
Financial Strategy for Economic Growth in Brazil: a Post Keynesian
... secrecy, as a condition for monetary policy to be effective. In global financial markets, financial market prices – including exchange rate – have been excessively volatile, as they fluctuate according to fads and fashions. Indeed, there is an extensive empirical literature which indicates that the ...
... secrecy, as a condition for monetary policy to be effective. In global financial markets, financial market prices – including exchange rate – have been excessively volatile, as they fluctuate according to fads and fashions. Indeed, there is an extensive empirical literature which indicates that the ...
The pressure on the Canadian dollar is expected to
... January 10, then came back up somewhat. The rise primarily seems to be associated with the surge in concern over China and global economic growth. Demand for the yen tends to rise during such times, supporting its value. More fundamentally, the state of Japan’s economy and monetary policy do not sug ...
... January 10, then came back up somewhat. The rise primarily seems to be associated with the surge in concern over China and global economic growth. Demand for the yen tends to rise during such times, supporting its value. More fundamentally, the state of Japan’s economy and monetary policy do not sug ...
Ch25 - 山东大学课程中心
... 9. "The more credible the policymakers who pursue an anti-inflation policy, the more successful that policy will be." Is this statement true, false, or uncertain? Explain your answer. 10. Many economists are worried that a high level of budget deficits may lead to inflationary monetary policies in t ...
... 9. "The more credible the policymakers who pursue an anti-inflation policy, the more successful that policy will be." Is this statement true, false, or uncertain? Explain your answer. 10. Many economists are worried that a high level of budget deficits may lead to inflationary monetary policies in t ...
CHAPTER 15
... adopt an expansionary monetary policy to decrease the foreign exchange value of the dollar. 8. To combat a recession, the Fed would adopt an expansionary monetary policy. By making more reserves available to the banking system, the money supply would tend to increase. This would cause interest rates ...
... adopt an expansionary monetary policy to decrease the foreign exchange value of the dollar. 8. To combat a recession, the Fed would adopt an expansionary monetary policy. By making more reserves available to the banking system, the money supply would tend to increase. This would cause interest rates ...
How China helped create the macroeconomic backdrop for financial
... do so. Countries with larger reserves are weathering the storm relatively better than those who have bought less insurance. Although purchasing insurance policy might have been sensible from the perspective of each country, collectively these currency interventions prepared the ground for the global ...
... do so. Countries with larger reserves are weathering the storm relatively better than those who have bought less insurance. Although purchasing insurance policy might have been sensible from the perspective of each country, collectively these currency interventions prepared the ground for the global ...
Bhumika Muchhala, Intervention March 10 Roundtable 2
... This study stated that “capital controls are a legitimate part of the toolkit to manage capital inflows in certain circumstances,” and that the use of capital controls by governments during the threat of financial crisis “was associated with avoiding some of the worst growth outcomes associated wit ...
... This study stated that “capital controls are a legitimate part of the toolkit to manage capital inflows in certain circumstances,” and that the use of capital controls by governments during the threat of financial crisis “was associated with avoiding some of the worst growth outcomes associated wit ...
Third World Network - the United Nations
... This study stated that "capital controls are a legitimate part of the toolkit to manage capital inflows in certain circumstances," and that the use of capital controls by governments during the threat of financial crisis "was associated with avoiding some of the worst growth outcomes associated with ...
... This study stated that "capital controls are a legitimate part of the toolkit to manage capital inflows in certain circumstances," and that the use of capital controls by governments during the threat of financial crisis "was associated with avoiding some of the worst growth outcomes associated with ...
- SlideBoom
... 7. How do investment in technology and investment in capital differ? • They have similar effects on output so they have no important differences from an economic point of view. • They have the same effects on output but investments in technology are much more closely tied to the level of saving tha ...
... 7. How do investment in technology and investment in capital differ? • They have similar effects on output so they have no important differences from an economic point of view. • They have the same effects on output but investments in technology are much more closely tied to the level of saving tha ...
Some Thoughts on the Possibility of Changes in Trend Growth
... facts; these can be found in Jones (1999), available on my web page. 1. As shown in Figure 1, GDP per capita over the last 125 years or so is well-represented by a log-linear time trend with a slope of about 1.8 percent per year. In particular, actual GDP per capita does not deviate from this time t ...
... facts; these can be found in Jones (1999), available on my web page. 1. As shown in Figure 1, GDP per capita over the last 125 years or so is well-represented by a log-linear time trend with a slope of about 1.8 percent per year. In particular, actual GDP per capita does not deviate from this time t ...
quiz 9
... a. prices are rigid. b. both velocity of money and real output are variable. c. changes in the money supply cause changes in velocity of money. d. the velocity of money is assumed to be constant. ____ 9. The irrelevance of monetary changes for real variables is called a. the classical dichotomy. b. ...
... a. prices are rigid. b. both velocity of money and real output are variable. c. changes in the money supply cause changes in velocity of money. d. the velocity of money is assumed to be constant. ____ 9. The irrelevance of monetary changes for real variables is called a. the classical dichotomy. b. ...
Tutorial
... b. not a concern during war. c. a result of high unemployment. d. an increase in the relative price level. A. Inflation is always a concern and it is not caused by a high unemployment rate. ...
... b. not a concern during war. c. a result of high unemployment. d. an increase in the relative price level. A. Inflation is always a concern and it is not caused by a high unemployment rate. ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... The buildup of macroeconomic disequilibria was also closely associated with economic policy. In the first years of the revolution, the government adopted an expansionary public expenditure program to improve the poor social record inherited from the Somoza years and to accelerate economic growth. Th ...
... The buildup of macroeconomic disequilibria was also closely associated with economic policy. In the first years of the revolution, the government adopted an expansionary public expenditure program to improve the poor social record inherited from the Somoza years and to accelerate economic growth. Th ...
Monetary - Harvard Kennedy School
... Why does capital often flow “uphill”: to countries that already have a lot of capital, rather than to those without? Answer: Because the former group are the countries that have institutions, such as rule of law, that assure investors they will be able to reap the returns on their investments. ...
... Why does capital often flow “uphill”: to countries that already have a lot of capital, rather than to those without? Answer: Because the former group are the countries that have institutions, such as rule of law, that assure investors they will be able to reap the returns on their investments. ...
Monetary Policy
... loans made from temporary excess funds Targeted by the Federal Reserve when changing the money supply Prime interest rate is charged on loans to most credit-worthy customers Prime interest rate is directly related to the Federal funds rate. ...
... loans made from temporary excess funds Targeted by the Federal Reserve when changing the money supply Prime interest rate is charged on loans to most credit-worthy customers Prime interest rate is directly related to the Federal funds rate. ...
PDF Download
... from a common currency stem from an increase in misalignment of relative prices. The explanation is that, relative to the case of a common currency, national monetary policy can better stabilise demand and target the national natural rate of output at the current level of prices. This means that, wi ...
... from a common currency stem from an increase in misalignment of relative prices. The explanation is that, relative to the case of a common currency, national monetary policy can better stabilise demand and target the national natural rate of output at the current level of prices. This means that, wi ...
Department of Economics, University of Toronto
... 5. Assume a constant level of output (i.e. y=0). Suppose that in the New Classical economy the growth rate of money decreases unexpectedly and that expectations are given by: expected inflation = last-period growth of money supply m(-1) i.e. expectations are based on last period's money growth. a. A ...
... 5. Assume a constant level of output (i.e. y=0). Suppose that in the New Classical economy the growth rate of money decreases unexpectedly and that expectations are given by: expected inflation = last-period growth of money supply m(-1) i.e. expectations are based on last period's money growth. a. A ...
Ch 4:Determining Interest Rates
... • Diversification divides wealth among less than perfectly positively correlated assets to reduce or eliminate idiosyncratic or asset specific or unsystematic risk. Systematic or market risk, common to all assets in an economy, cannot be diversified. • Some economists see the financial crisis as a b ...
... • Diversification divides wealth among less than perfectly positively correlated assets to reduce or eliminate idiosyncratic or asset specific or unsystematic risk. Systematic or market risk, common to all assets in an economy, cannot be diversified. • Some economists see the financial crisis as a b ...
CHAPTER 23: The Art of Central Banking: Targets, Instruments and
... monetary policy are called operating instruments. They include variables such as the monetary base, government deposits, open market operations, and the overnight lending rate. Intermediate targets are a set of economic variables, such as various measures of monetary aggregates (M1, M2, and M2+) and ...
... monetary policy are called operating instruments. They include variables such as the monetary base, government deposits, open market operations, and the overnight lending rate. Intermediate targets are a set of economic variables, such as various measures of monetary aggregates (M1, M2, and M2+) and ...
Mishkin • Macroeconomics: Policy and Practice, Second Edition
... how policymakers must react to changes in unemployment or inflation and those who would allow policymakers greater latitude to use their discretionary judgment to formulate the policy response they believe is most appropriate in a given situation. 11 Global trade imbalances occur when some countries ...
... how policymakers must react to changes in unemployment or inflation and those who would allow policymakers greater latitude to use their discretionary judgment to formulate the policy response they believe is most appropriate in a given situation. 11 Global trade imbalances occur when some countries ...
Slide 1 - Spring Branch ISD
... necessary funds from foreign nations. C) No, because the government can refinance the public debt by selling new bonds to pay off holders of maturing bonds. D) No, because most of the public debt is held by foreign nations and they would prefer to refinance the debt. E) No, because most of the publi ...
... necessary funds from foreign nations. C) No, because the government can refinance the public debt by selling new bonds to pay off holders of maturing bonds. D) No, because most of the public debt is held by foreign nations and they would prefer to refinance the debt. E) No, because most of the publi ...
This PDF is a selection from a published volume from... Economic Research Volume Title: Europe and the Euro
... equilibrium models (Kose and Yi [2001]). If asset markets are complete (and even if productivity shocks are correlated across countries), a higher trade intensity leads to a lower cross-country correlation of output. The idea is that increased openness enhances the swings in international relative p ...
... equilibrium models (Kose and Yi [2001]). If asset markets are complete (and even if productivity shocks are correlated across countries), a higher trade intensity leads to a lower cross-country correlation of output. The idea is that increased openness enhances the swings in international relative p ...
Implications of Fiscal Austerity for U.S. Monetary Policy
... Fiscal matters are the subject of intense debate Many developed economies have adopted fiscal austerity The U.S. reduced real government spending and government employment even before recent payroll tax increase and sequester ...
... Fiscal matters are the subject of intense debate Many developed economies have adopted fiscal austerity The U.S. reduced real government spending and government employment even before recent payroll tax increase and sequester ...
Monetary Policy
... Gregory), the larger money supply M’ intersects the money demand curve at a lower equilibrium rate of interest. ...
... Gregory), the larger money supply M’ intersects the money demand curve at a lower equilibrium rate of interest. ...