Growth, Distribution and Effective Demand: the supermultiplier
... output growth and the rate of capital accumulation (i.e. the rate of growth of the capital stock) to be equal to each other. The heterodox literature that deals with the relationship between economic growth, income distribution and effective demand, proposes two types of adjustment mechanisms to ach ...
... output growth and the rate of capital accumulation (i.e. the rate of growth of the capital stock) to be equal to each other. The heterodox literature that deals with the relationship between economic growth, income distribution and effective demand, proposes two types of adjustment mechanisms to ach ...
Global Economic Prospects January 2015
... Oil production and consumption for selected countries ...
... Oil production and consumption for selected countries ...
Economic Freedom of the World: 1975-1995
... this book that we did not know before. What we have done is to acquire a set of data that can be used to explore just how the relation works, and what are the essential connections, and that will enable skeptics to test their views objectively. ...
... this book that we did not know before. What we have done is to acquire a set of data that can be used to explore just how the relation works, and what are the essential connections, and that will enable skeptics to test their views objectively. ...
January 2015 - Public Documents Profile Viewer
... Oil production and consumption for selected countries ...
... Oil production and consumption for selected countries ...
Principles Of Economics
... into Chapter 1, to more clearly and efficiently prepare students for the economic way of thinking and the approach to learning economics used in the text. Chapter 2 presents comparative advantage as the basis for exchange (this was Chapter 3 in the First Edition) and Chapter 3 introduces supply and ...
... into Chapter 1, to more clearly and efficiently prepare students for the economic way of thinking and the approach to learning economics used in the text. Chapter 2 presents comparative advantage as the basis for exchange (this was Chapter 3 in the First Edition) and Chapter 3 introduces supply and ...
The Great Inflation in the United States and the United Kingdom
... and not on U.S. policy in both the 1960s and 1970s. For the United States, we do not find it useful to categorize the 1960s as part of the same inflation epoch as that of the 1970s. To do so is to gloss over the very significant segment of U.S. policymaking in 1969−70 in which both policy decisions ...
... and not on U.S. policy in both the 1960s and 1970s. For the United States, we do not find it useful to categorize the 1960s as part of the same inflation epoch as that of the 1970s. To do so is to gloss over the very significant segment of U.S. policymaking in 1969−70 in which both policy decisions ...
Mankiw 5/e Chapter 10: Aggregate Demand I
... Chapter 10 developed the IS-LM model, the basis of the aggregate demand curve. In Chapter 11, we will use the IS-LM model to – see how policies and shocks affect income and the interest rate in the short run when prices are fixed – derive the aggregate demand curve – explore various explanations ...
... Chapter 10 developed the IS-LM model, the basis of the aggregate demand curve. In Chapter 11, we will use the IS-LM model to – see how policies and shocks affect income and the interest rate in the short run when prices are fixed – derive the aggregate demand curve – explore various explanations ...
View/Open
... account. The current account records the value of a country‟s merchandise trade (imports and exports), trade in services, as well as foreign transfer payments and receipts (Economist, 2008: 1). It will be shown below that the current account balance can also be expressed as the difference between a ...
... account. The current account records the value of a country‟s merchandise trade (imports and exports), trade in services, as well as foreign transfer payments and receipts (Economist, 2008: 1). It will be shown below that the current account balance can also be expressed as the difference between a ...
Unfunded Liabilities of State and Local Government
... a pension plan’s accrued liabilities. However, pensioners have a durable legal claim to receive their benefits and consequently, it is more appropriate to use a lower discount rate in calculating the plans’ accrued liabilities. Due to the use of high discount rates, the liabilities of state and loca ...
... a pension plan’s accrued liabilities. However, pensioners have a durable legal claim to receive their benefits and consequently, it is more appropriate to use a lower discount rate in calculating the plans’ accrued liabilities. Due to the use of high discount rates, the liabilities of state and loca ...
The Eurozone Debt Crisis 2010
... The EMU is a monetary union across countries which have asynchronous business cycles: GDP Gaps of ECU Member States and the USA ...
... The EMU is a monetary union across countries which have asynchronous business cycles: GDP Gaps of ECU Member States and the USA ...
ESRC-DFID Project ChauvetEtAl March16 Paper
... countries, income volatility has been shown to have a negative impact on economic growth (Ramey and Ramey, 1995; Hnatkovska and Loayza, 2005). Exogenous sources of instability, either due to external trade shocks or natural and climatic disasters, and the volatility they induce are significant facto ...
... countries, income volatility has been shown to have a negative impact on economic growth (Ramey and Ramey, 1995; Hnatkovska and Loayza, 2005). Exogenous sources of instability, either due to external trade shocks or natural and climatic disasters, and the volatility they induce are significant facto ...
- Strathprints - University of Strathclyde
... (1988), all writing on the development of Keynes’s thinking on the rate of interest, draw no connection to Sraffa. Maclachlan (1993) sees a tenuous link. Lord Skidelsky (1992, p. 458) does hint at the possibility of an important Sraffian influence on Keynes’s thinking. In discussing progress toward ...
... (1988), all writing on the development of Keynes’s thinking on the rate of interest, draw no connection to Sraffa. Maclachlan (1993) sees a tenuous link. Lord Skidelsky (1992, p. 458) does hint at the possibility of an important Sraffian influence on Keynes’s thinking. In discussing progress toward ...
Unemployment-Inflation Relationship
... (CPI) and unemployment rates. The ready availability of the data is considered one of the driving factors for using the NAIRU as a policy tool. The CPI is available for the Seattle-Tacoma-Bremerton area and for small metropolitan and non-metropolitan areas in the western U.S.—as are unemployment rat ...
... (CPI) and unemployment rates. The ready availability of the data is considered one of the driving factors for using the NAIRU as a policy tool. The CPI is available for the Seattle-Tacoma-Bremerton area and for small metropolitan and non-metropolitan areas in the western U.S.—as are unemployment rat ...
Money, Banking, and the Financial System
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
Sample
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
... coincidence of wants, resulting in high transaction costs. Second, there will be many prices for each good; one for each good for which it can be traded. Third, there is a lack of standardization in terms of the goods to be exchanged. Fourth, it will be difficult to accumulate wealth. Diff: 2 Page R ...
NBER WORKING PAPER SERIES RECONCILING POLICY DECISIONS AND DATA OUTCOMES
... July 1978, p. 4). Its own analysis of inflation emphasized nonmonetary factors. For example, a 1968 Treasury analysis in the publication Economic Trends observed, “The retail price index rose by about ½ per cent in June… The increase in June was largely the result of higher prices for fresh fruit an ...
... July 1978, p. 4). Its own analysis of inflation emphasized nonmonetary factors. For example, a 1968 Treasury analysis in the publication Economic Trends observed, “The retail price index rose by about ½ per cent in June… The increase in June was largely the result of higher prices for fresh fruit an ...
Why Have Business Cycle Fluctuations Become Less
... labor utilization. This “mis-measurement” view of TFP would suggest that the change in TFP volatility is due to the change in the volatility of some other shock, combined with unmeasured changes in factor utilization. We therefore pursue this possibility using the model of Burnside et al. (1996) th ...
... labor utilization. This “mis-measurement” view of TFP would suggest that the change in TFP volatility is due to the change in the volatility of some other shock, combined with unmeasured changes in factor utilization. We therefore pursue this possibility using the model of Burnside et al. (1996) th ...
DOCUMENTOS DE TRABAJO Serie Economía Nº 272
... The ability of the model to generate a negative correlation between the scope of the government and the volatility of the private components of aggregate expenditure is an important contribution of our paper. Indeed, in a recent paper Andrés et al. (2008) study how alternative models of the busine ...
... The ability of the model to generate a negative correlation between the scope of the government and the volatility of the private components of aggregate expenditure is an important contribution of our paper. Indeed, in a recent paper Andrés et al. (2008) study how alternative models of the busine ...
960 K - National Bureau of Economic Research
... to our model economy. Instead, we also wish to derive policy rules that the monetary and fiscal authorities may reasonably commit themselves to follow as a way of implementing the optimal equilibrium. In particular, we seek to characterize optimal policy in terms of optimal targeting rules for monet ...
... to our model economy. Instead, we also wish to derive policy rules that the monetary and fiscal authorities may reasonably commit themselves to follow as a way of implementing the optimal equilibrium. In particular, we seek to characterize optimal policy in terms of optimal targeting rules for monet ...
Is nominal GDP targeting a suitable tool for ECB monetary policy?
... last, the balance of the empirical or simulation studies shows that nominal income targeting rules perform less well, certainly in terms of reducing output and inflation fluctuations, than more flexible generalisations such as the Taylor rule. Significantly, they also appear to be more vulnerable to ...
... last, the balance of the empirical or simulation studies shows that nominal income targeting rules perform less well, certainly in terms of reducing output and inflation fluctuations, than more flexible generalisations such as the Taylor rule. Significantly, they also appear to be more vulnerable to ...
T.Y.B.A. Economics Paper - IV
... unit of products decreases; thus ensuring higher profits. There is high degree of market concentration, since the fourfirm concentration ratio is often used, where the market shares of four largest firms are measured (as a percentage) since they form the major portion of the market share. An Oligopo ...
... unit of products decreases; thus ensuring higher profits. There is high degree of market concentration, since the fourfirm concentration ratio is often used, where the market shares of four largest firms are measured (as a percentage) since they form the major portion of the market share. An Oligopo ...
N - Piazza
... Even before the Czech Republic gained independence from communism, an underground translation was secretly used in macroeconomics seminars at Charles University in Prague. There is no greater pleasure for teachers and textbook authors than to see their efforts succeed so concretely around the world. ...
... Even before the Czech Republic gained independence from communism, an underground translation was secretly used in macroeconomics seminars at Charles University in Prague. There is no greater pleasure for teachers and textbook authors than to see their efforts succeed so concretely around the world. ...
Saving Transitions - Faculty Support Site
... the gap in growth between these two groups of countries can be attributed to the difference in their saving performance. Such comparisons, however, tell us little about the underlying economics of high growth and the policies that enable it. High-growth countries share many characteristics other tha ...
... the gap in growth between these two groups of countries can be attributed to the difference in their saving performance. Such comparisons, however, tell us little about the underlying economics of high growth and the policies that enable it. High-growth countries share many characteristics other tha ...
Chapter 36 MC — Five Debates Over Macroeconomic Policy
... a. At the time the economy was just moving into a recession. b. While there was subsequent improvement in economic performance, it’s not entirely clear that this was due to the policy. c. In general monetary policy can be implemented faster than fiscal policy. d. In general it is easier to reverse m ...
... a. At the time the economy was just moving into a recession. b. While there was subsequent improvement in economic performance, it’s not entirely clear that this was due to the policy. c. In general monetary policy can be implemented faster than fiscal policy. d. In general it is easier to reverse m ...