34 - CERGE-EI
... • When the stock market booms, households become wealthier and this stimulates consumer spending. • Rising share prices also make it more attractive for firms to issue new shares and this facilitates increased investment spending. • Central banks can offset these expansionary effects on aggregate de ...
... • When the stock market booms, households become wealthier and this stimulates consumer spending. • Rising share prices also make it more attractive for firms to issue new shares and this facilitates increased investment spending. • Central banks can offset these expansionary effects on aggregate de ...
Pensions at a Glance 2015 JAPAN
... supplementary monthly benefit. Women on maternity leave have had an increase their disposable income as they have been exempt from employees’ pension contributions since April 2014. ...
... supplementary monthly benefit. Women on maternity leave have had an increase their disposable income as they have been exempt from employees’ pension contributions since April 2014. ...
FREE Sample Here
... B) the interest rate. C) employment. D) productivity. Answer: D Question Status: Previous Edition 13) To avoid the conflicts and suffering of a "zero-sum society," an economy must maintain a A) positive rate of productivity growth. B) positive rate of inflation. C) foreign trade surplus D) governmen ...
... B) the interest rate. C) employment. D) productivity. Answer: D Question Status: Previous Edition 13) To avoid the conflicts and suffering of a "zero-sum society," an economy must maintain a A) positive rate of productivity growth. B) positive rate of inflation. C) foreign trade surplus D) governmen ...
Europe in Crisis: Challenges and Scenarios for
... While the first two papers of this special issue are based on post-Keynisan perspectives and address the problems at the level of the European Union and demand specific alternative policies in order to achieve cohesion, the following papers focus on selected aspects of the dynamics of the political ...
... While the first two papers of this special issue are based on post-Keynisan perspectives and address the problems at the level of the European Union and demand specific alternative policies in order to achieve cohesion, the following papers focus on selected aspects of the dynamics of the political ...
MONETARY AND FISCAL POLICY IN THE VERY SHORT RUN
... Figure 12-1 illustrates one of the most recent responses of the economy to monetary policy intervention. In 1997 and 1998, real GDP was growing at an average annual rate of approximately 4 percent. The governor of the Bank of Canada considered this growth to be to be excessively strong and, therefor ...
... Figure 12-1 illustrates one of the most recent responses of the economy to monetary policy intervention. In 1997 and 1998, real GDP was growing at an average annual rate of approximately 4 percent. The governor of the Bank of Canada considered this growth to be to be excessively strong and, therefor ...
Speech - Bank of England
... Good evening. It is a pleasure to be at the LSE and an honour to share the podium with Amartya Sen. Professor Sen is rightly recognised for his many contributions, not least to welfare economics and social choice theory. He has posed, and in many cases answered, some of the most fundamental questio ...
... Good evening. It is a pleasure to be at the LSE and an honour to share the podium with Amartya Sen. Professor Sen is rightly recognised for his many contributions, not least to welfare economics and social choice theory. He has posed, and in many cases answered, some of the most fundamental questio ...
The 'economics of monetary integration' revisited: What have we learnt about the theory of optimum currency areas?
... quantitatively very strong. Although later econometric studies have scaled down this “Rose-effect” substantially, there is still a lot left over (see e.g. Mélitz(2001), Bun and Klaassen(2002) and Micco, et al. (2003)), so that it is safe to conclude that a monetary union has a significant positive ...
... quantitatively very strong. Although later econometric studies have scaled down this “Rose-effect” substantially, there is still a lot left over (see e.g. Mélitz(2001), Bun and Klaassen(2002) and Micco, et al. (2003)), so that it is safe to conclude that a monetary union has a significant positive ...
World Economic Situation Prospects
... failed to create a sufficient number of jobs to close the gap in the employment rate (employment-to-population ratio) that opened up during the global financial crisis. The employment gap is estimated to reach 63.2 million in 2015 (figure I.4). The average rate of job creation has slowed to about 1. ...
... failed to create a sufficient number of jobs to close the gap in the employment rate (employment-to-population ratio) that opened up during the global financial crisis. The employment gap is estimated to reach 63.2 million in 2015 (figure I.4). The average rate of job creation has slowed to about 1. ...
Chapter 21 - McGraw Hill Higher Education
... We will proceed in three steps: 1. Examine the relationship between aggregate expenditures and the real interest rate; 2. Study how monetary policymakers adjust their interest-rate instrument in response to change in inflation; and 3. Put these two together to construct the dynamic aggregate demand ...
... We will proceed in three steps: 1. Examine the relationship between aggregate expenditures and the real interest rate; 2. Study how monetary policymakers adjust their interest-rate instrument in response to change in inflation; and 3. Put these two together to construct the dynamic aggregate demand ...
The Interaction Between Monetary and Fiscal Policies
... trade-off between inflation and unemployment.5 Those who believed that there was, were more willing to engage in a high level of fine-tuning the real economy. Models were used to mimic finetuning exercises, with interest rates or fiscal policy levers changed to get back quickly to desired output lev ...
... trade-off between inflation and unemployment.5 Those who believed that there was, were more willing to engage in a high level of fine-tuning the real economy. Models were used to mimic finetuning exercises, with interest rates or fiscal policy levers changed to get back quickly to desired output lev ...
Examiners` commentaries 2016 - University of London International
... are intended to test your knowledge of important concepts and understanding of key analytical points. A brief answer is expected, and candidates need to be selective in order to focus their answers on the most important points, since, for some of these questions, a very long answer could be given. S ...
... are intended to test your knowledge of important concepts and understanding of key analytical points. A brief answer is expected, and candidates need to be selective in order to focus their answers on the most important points, since, for some of these questions, a very long answer could be given. S ...
Presentación de Florian A. Alburo, en inglés (pdf, 190 Kb.)
... other crisis-affected countries in the region, recovery came earlier and faster and growth resumed also driven by the very external factors that caused the crisis. Although all the countries hit by the crisis equally suffered its economic and social consequences, the Philippines is among those that ...
... other crisis-affected countries in the region, recovery came earlier and faster and growth resumed also driven by the very external factors that caused the crisis. Although all the countries hit by the crisis equally suffered its economic and social consequences, the Philippines is among those that ...
Student Study Guide for Chapter 12
... 4. Assume that a nation is fully using every last one of its available resources in production. Then that nation would be operating at ___________ output. 5. When demand for labor and other resources is high, and that bids up wages, which in turn bids up prices as producers try to cover their higher ...
... 4. Assume that a nation is fully using every last one of its available resources in production. Then that nation would be operating at ___________ output. 5. When demand for labor and other resources is high, and that bids up wages, which in turn bids up prices as producers try to cover their higher ...
NBER WORKING PAPER SERIES CURRENT ACCOUNT ADJUSTMENT: SOME NEW THEORY AND EVIDENCE
... One of the major advances in open-economy macroeconomics in the last thirty years is the intertemporal approach to current account, developed in seminal work by Sachs (1981, 1982) and Svesson and Razin (1983), codified in Obstfeld and Rogoff (1996), and now taught to every graduate student in interna ...
... One of the major advances in open-economy macroeconomics in the last thirty years is the intertemporal approach to current account, developed in seminal work by Sachs (1981, 1982) and Svesson and Razin (1983), codified in Obstfeld and Rogoff (1996), and now taught to every graduate student in interna ...
Sectoral Interdependence and Business Cycle Synchronization in
... In a recent paper, Justiniano and Preston (2010) argue that small open economy (SOE) monetary DSGE models are unable to account for the influence of foreign disturbances, evidenced by many empirical studies.1 They set up a model along the lines of Galı́ and Monacelli (2005), extended with some bells ...
... In a recent paper, Justiniano and Preston (2010) argue that small open economy (SOE) monetary DSGE models are unable to account for the influence of foreign disturbances, evidenced by many empirical studies.1 They set up a model along the lines of Galı́ and Monacelli (2005), extended with some bells ...
Interactive Tool
... their financial assets from inflation. The resources and time used to do so could be used to produce goods and services of value. Those goods and services given up are a true cost of inflation. 2. High rates of inflation discourage businesses planning and investment as inflation increases the diffic ...
... their financial assets from inflation. The resources and time used to do so could be used to produce goods and services of value. Those goods and services given up are a true cost of inflation. 2. High rates of inflation discourage businesses planning and investment as inflation increases the diffic ...
Information Technology and Monetary Policy
... approach. I focus on two rules in which the central bank’s interest rate decisions respond both to inflation and to real GDP. In both rules, the response to the inflation rate is 1.5: when the inflation rate rises by 100 basis points, the short-term interest rate rises by 150 basis points. The rules ...
... approach. I focus on two rules in which the central bank’s interest rate decisions respond both to inflation and to real GDP. In both rules, the response to the inflation rate is 1.5: when the inflation rate rises by 100 basis points, the short-term interest rate rises by 150 basis points. The rules ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... policy is complicated, however, by a large and rising government debt. This problem led the major rating agencies to downgrade Japan’s debt in 2002. Policymakers resist a fiscal expansion because they believe it would exacerbate the debt problem. Others, however, argue for a fiscal expansion. Kuttne ...
... policy is complicated, however, by a large and rising government debt. This problem led the major rating agencies to downgrade Japan’s debt in 2002. Policymakers resist a fiscal expansion because they believe it would exacerbate the debt problem. Others, however, argue for a fiscal expansion. Kuttne ...
PPT
... E.g. if the CPI rose from 100 to 110, and the next year to 112, the inflation rate is positive but slowing down. BACK TO ...
... E.g. if the CPI rose from 100 to 110, and the next year to 112, the inflation rate is positive but slowing down. BACK TO ...
completing conditions to implement monetary policy under inflation
... money supply by central banks. All foregoing matters will lead to the distortion in regulating monetary policy to achieve the inflation control target via intermediate objectives by dollarization. 1.2.4.2. Sensitivity of the exchange rate channel. The sensitivity of exchange rate channel must also b ...
... money supply by central banks. All foregoing matters will lead to the distortion in regulating monetary policy to achieve the inflation control target via intermediate objectives by dollarization. 1.2.4.2. Sensitivity of the exchange rate channel. The sensitivity of exchange rate channel must also b ...
Expectations, Deflation Traps and Macroeconomic Policy∗
... Paris, and at the San Francisco Federal Reserve Bank. We are particularly indebted for comments received from Jess Benhabib, David Cobham, Krisztina Molnar, John Williams, and Mike Woodford. ...
... Paris, and at the San Francisco Federal Reserve Bank. We are particularly indebted for comments received from Jess Benhabib, David Cobham, Krisztina Molnar, John Williams, and Mike Woodford. ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... inflation redistributes profits from workers with relatively low marginal saving propensities to entrepreneurs whose marginal propensities to save and invest is high and through increasing the nominal rates of return relative to the cost. Secondly, inflation, in economies with flexible prices, can r ...
... inflation redistributes profits from workers with relatively low marginal saving propensities to entrepreneurs whose marginal propensities to save and invest is high and through increasing the nominal rates of return relative to the cost. Secondly, inflation, in economies with flexible prices, can r ...
I Economic outlook, key assumptions, and main uncertainties
... February Monetary Bulletin in 2016 and look set to do so again this year. These large external shocks have pushed the exchange rate of the króna upwards. The forecast published here assumes that the exchange rate will continue to rise through 2018, but at a slower pace than in the past year. The ext ...
... February Monetary Bulletin in 2016 and look set to do so again this year. These large external shocks have pushed the exchange rate of the króna upwards. The forecast published here assumes that the exchange rate will continue to rise through 2018, but at a slower pace than in the past year. The ext ...
Chapter 8: The Natural Rate of Unemployment and the Phillips Curve
... In the equation above, the terms m and z vary over time, leading to changes in the natural rate of unemployment. The U.S. natural rate of unemployment has decreased from 6% to between 4% and 5% today. – Maybe globalization reduces m, by exposing domestic firms to ...
... In the equation above, the terms m and z vary over time, leading to changes in the natural rate of unemployment. The U.S. natural rate of unemployment has decreased from 6% to between 4% and 5% today. – Maybe globalization reduces m, by exposing domestic firms to ...