Note on growth and growth accounting
... factor productivity growth captures the impact of intangible aspects of human progress that allow both labour and capital to increase their productivity. Thinking of the period 1990 to 2000, what has made the US economy more productive and has increased welfare was not simply the fact that firms hav ...
... factor productivity growth captures the impact of intangible aspects of human progress that allow both labour and capital to increase their productivity. Thinking of the period 1990 to 2000, what has made the US economy more productive and has increased welfare was not simply the fact that firms hav ...
Social Structures of Accumulation, the Rate of Profit
... in the SSA literature introduced the idea that an SSA, when it was working effectively, promoted a high rate of profit and that the crisis resulted from a profit rate decline stemming from problems that arose in the SSA and its relation to capital accumulation. Using econometric analysis, Weisskopf ...
... in the SSA literature introduced the idea that an SSA, when it was working effectively, promoted a high rate of profit and that the crisis resulted from a profit rate decline stemming from problems that arose in the SSA and its relation to capital accumulation. Using econometric analysis, Weisskopf ...
a study of the long-term movement of the profit rate in
... Each systemic cycle consists of a material expansion phase and a financial expansion phase. In material expansions, the emerging hegemonic power of the capitalist world system creates a set of new geopolitical and organizational conditions required for the emergence of wider and deeper divisions of ...
... Each systemic cycle consists of a material expansion phase and a financial expansion phase. In material expansions, the emerging hegemonic power of the capitalist world system creates a set of new geopolitical and organizational conditions required for the emergence of wider and deeper divisions of ...
4 - Weber State University
... increase by ____________ shifting the IS curve from IS0 to IS1 and crowding out is approximately ____________. A) 500, 500 B) 250, 500 C) 1000, 1000 D) 1000, 250 31) If spending is not responsive to changes in the interest rate then the A) LM curve is vertical. B) IS and LM curves are vertical. C) I ...
... increase by ____________ shifting the IS curve from IS0 to IS1 and crowding out is approximately ____________. A) 500, 500 B) 250, 500 C) 1000, 1000 D) 1000, 250 31) If spending is not responsive to changes in the interest rate then the A) LM curve is vertical. B) IS and LM curves are vertical. C) I ...
This PDF is a selection from a published volume from
... better the features of the data. In comparison to models where imports enter as consumption goods, such as in Gali and Monacelli (2002), McCallum and Nelson's (2000) model generates a lower and more delayed correlation between exchange-rate changes and the inflation rate, closer to that observed in ...
... better the features of the data. In comparison to models where imports enter as consumption goods, such as in Gali and Monacelli (2002), McCallum and Nelson's (2000) model generates a lower and more delayed correlation between exchange-rate changes and the inflation rate, closer to that observed in ...
the assessment of some macroeconomic forecasts for spain using
... short and medium run forecasts being done in April and September. There are some discussions for the important issues of developing and industrial states and also for the countries with the economy in transition to market. For the years 2014 and 2015, the IMF estimated that the inflation would decre ...
... short and medium run forecasts being done in April and September. There are some discussions for the important issues of developing and industrial states and also for the countries with the economy in transition to market. For the years 2014 and 2015, the IMF estimated that the inflation would decre ...
29 INFLATION, JOBS, AND THE BUSINESS CYCLE**
... What are the four special forms of the mainstream theory of the business cycle and how do they differ? The four special forms of the mainstream theory are the Keynesian cycle theory, the monetarist cycle theory, the new classical cycle theory, and the new Keynesian cycle theory. These theories diffe ...
... What are the four special forms of the mainstream theory of the business cycle and how do they differ? The four special forms of the mainstream theory are the Keynesian cycle theory, the monetarist cycle theory, the new classical cycle theory, and the new Keynesian cycle theory. These theories diffe ...
MerCAtUS reSeArCh A MArket-Driven noMinAl GDP tArGetinG reGiMe
... is likely to produce better macroeconomic outcomes than an inflation target.11 If so, then a monetary policy that results in the price of nominal GDP futures contracts rising along a stable trend line, perhaps at 3–5 percent per year, would be desirable. The markets will then determine the money sto ...
... is likely to produce better macroeconomic outcomes than an inflation target.11 If so, then a monetary policy that results in the price of nominal GDP futures contracts rising along a stable trend line, perhaps at 3–5 percent per year, would be desirable. The markets will then determine the money sto ...
Document
... In the modern U.S. economy, the typical unemployed person stays unemployed for a relatively brief period of time. In April 2007—which was during a period of economic expansion—82 percent of the people who were unemployed had been unemployed for less than six months. In September 2011, after the end ...
... In the modern U.S. economy, the typical unemployed person stays unemployed for a relatively brief period of time. In April 2007—which was during a period of economic expansion—82 percent of the people who were unemployed had been unemployed for less than six months. In September 2011, after the end ...
EN EN Table of Contents 1. Introduction 2. Overview of capital loan
... This working document is published in parallel with the report of the Commission to the European Parliament and the Council on guarantees covered by the EU budget at 31 December 2015. It provides further information on the risk borne by the EU budget related to Member States and third countries. An ...
... This working document is published in parallel with the report of the Commission to the European Parliament and the Council on guarantees covered by the EU budget at 31 December 2015. It provides further information on the risk borne by the EU budget related to Member States and third countries. An ...
15.1 the consumer price index
... purchasing power—the nominal interest rate adjusted for the effects of inflation. Real interest rate = Nominal interest rate – Inflation rate ...
... purchasing power—the nominal interest rate adjusted for the effects of inflation. Real interest rate = Nominal interest rate – Inflation rate ...
Growth Effects of 1992 - Graduate Institute of International and
... There is a standard reply to this mismatch. 1992's greatest benefits may be found not in its once-off effect on resource allocation but rather in its dynamic effects: more innovation, faster productivity gains, greater investment and higher output growth. The Cecchini Report ignores these dynamic ef ...
... There is a standard reply to this mismatch. 1992's greatest benefits may be found not in its once-off effect on resource allocation but rather in its dynamic effects: more innovation, faster productivity gains, greater investment and higher output growth. The Cecchini Report ignores these dynamic ef ...
inflation - Economics
... economy. This created the hyperinflation. By the early 1990s the government used up all of its own hard currency reserves and proceded to loot the hard currency savings of private citizens. It did this by imposing more and more difficult restrictions on private citizens access to their hard currency ...
... economy. This created the hyperinflation. By the early 1990s the government used up all of its own hard currency reserves and proceded to loot the hard currency savings of private citizens. It did this by imposing more and more difficult restrictions on private citizens access to their hard currency ...
Real Fluctuations at the Zero Lower Bound
... where φd > 0 is a parameter.2 When the monetary authority is unconstrained by the zero lower bound, the policy rule in Equation (3) responds exactly as a simple Taylor (1993)-type policy rule. At the zero lower bound, however, the central bank continues to respond to the state of the economy by adju ...
... where φd > 0 is a parameter.2 When the monetary authority is unconstrained by the zero lower bound, the policy rule in Equation (3) responds exactly as a simple Taylor (1993)-type policy rule. At the zero lower bound, however, the central bank continues to respond to the state of the economy by adju ...
Overborrowing and Systemic Externalities in the Business Cycle ∗
... markets is generally short term and denominated in foreign currency. In turn, these features of debt contracts are generally seen as an important source of vulnerability in emerging markets (see e.g., Calvo, Izquierdo, and Loo-Kung, 2006). The second form of market incompleteness is given by the cre ...
... markets is generally short term and denominated in foreign currency. In turn, these features of debt contracts are generally seen as an important source of vulnerability in emerging markets (see e.g., Calvo, Izquierdo, and Loo-Kung, 2006). The second form of market incompleteness is given by the cre ...
The Capital Structure of Nations
... tradeo¤ between in‡ation and expected debt default costs. In general, there is no simple rule for the evolution of the optimal quantity of money in an economy with frictions. How much a nation should rely on printing money as opposed to debt …nancing depends on the value of investments to be funded, ...
... tradeo¤ between in‡ation and expected debt default costs. In general, there is no simple rule for the evolution of the optimal quantity of money in an economy with frictions. How much a nation should rely on printing money as opposed to debt …nancing depends on the value of investments to be funded, ...
The impact of a budget deficit on inflation in Zimbabwe
... the future budget, what simultaneously means heavier fiscal burden for future generations. It is, however, often forgotten that interest on government bonds will also be the income of future generations. As long as the deficit is financed through internal debt, interest payment is simply financial t ...
... the future budget, what simultaneously means heavier fiscal burden for future generations. It is, however, often forgotten that interest on government bonds will also be the income of future generations. As long as the deficit is financed through internal debt, interest payment is simply financial t ...
some characteristics of sharp current account deficit reversals in
... even stagnant saving rates. Hence, to close the gap they need to turn to foreign saving, which has generally induced the high and even growing current account deficits of the last decade. In this respect, the problem of external imbalances is particularly important for CEE countries which have alread ...
... even stagnant saving rates. Hence, to close the gap they need to turn to foreign saving, which has generally induced the high and even growing current account deficits of the last decade. In this respect, the problem of external imbalances is particularly important for CEE countries which have alread ...
WHY THE FEDERAL RESERVE SHOULD ADOPT INFLATION TARGETING
... on its head. I would argue that inflation targeting can actually make it easier to reduce output fluctuations and probably has done so. First the presence of an inflation target which provides an effective nominal anchor enables a central bank to be even more aggressive in the face of negative shoc ...
... on its head. I would argue that inflation targeting can actually make it easier to reduce output fluctuations and probably has done so. First the presence of an inflation target which provides an effective nominal anchor enables a central bank to be even more aggressive in the face of negative shoc ...
Macroeconomic Measurements, Part I: Prices and Unemployment
... The CPI is used (1) as an economic indicator, (2) to find T H I N K I N G L I K E A N Comparing one thing with something else can the real value of an economic variable, and (3) to adjust be extremely useful. For example, in each of certain income payments. these three cases, we compared the percent ...
... The CPI is used (1) as an economic indicator, (2) to find T H I N K I N G L I K E A N Comparing one thing with something else can the real value of an economic variable, and (3) to adjust be extremely useful. For example, in each of certain income payments. these three cases, we compared the percent ...
Macroeconomic Performance and Volatility of Turkish Republic of
... Table 10. Average of General government balance ................................................... 32 Table 11. Average of unemployment ......................................................................... 34 Table 12. Summary of volatility of selected macroeconomic parameters ................. ...
... Table 10. Average of General government balance ................................................... 32 Table 11. Average of unemployment ......................................................................... 34 Table 12. Summary of volatility of selected macroeconomic parameters ................. ...
Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis ∗ Jeffrey R. Campbell
... the expectations theory of the term structure holds good and real rates should not be affected much beyond the duration of price stickiness. These findings raise questions about the use of standard NK models for identifying the effects of Odyssean forward guidance. Therefore we reconsider the Hanson ...
... the expectations theory of the term structure holds good and real rates should not be affected much beyond the duration of price stickiness. These findings raise questions about the use of standard NK models for identifying the effects of Odyssean forward guidance. Therefore we reconsider the Hanson ...
Price level targeting, the zero bound on the nominal interest rate and
... the ensuing global recession, millions of jobs were lost; trillions of dollars of output foregone. These zero lower bound episodes and the large welfare costs associated with them have called into question the effectiveness of our existing monetary policy frameworks and have given new impetus to the ...
... the ensuing global recession, millions of jobs were lost; trillions of dollars of output foregone. These zero lower bound episodes and the large welfare costs associated with them have called into question the effectiveness of our existing monetary policy frameworks and have given new impetus to the ...
SEDP-2014-11-Chen-Kirsanova-Leith
... European Central Bank (ECB) and the associated single currency. However, even prior to the creation of the Euro, Euro-area monetary policy has undergone a number of significant shifts which could impact on the efficacy of that policy. For example, the Bundesbank became the de facto leader in monetar ...
... European Central Bank (ECB) and the associated single currency. However, even prior to the creation of the Euro, Euro-area monetary policy has undergone a number of significant shifts which could impact on the efficacy of that policy. For example, the Bundesbank became the de facto leader in monetar ...