Economics: Principles and Applications, 2e by Robert E. Hall & Marc
... Decreases in government purchases, investment, and autonomous consumption, as well as increases in taxes, all shift the aggregate expenditure line downward. Real GDP falls, but so does the interest rate. The decline in equilibrium GDP is smaller than if the interest rate remained constant. ...
... Decreases in government purchases, investment, and autonomous consumption, as well as increases in taxes, all shift the aggregate expenditure line downward. Real GDP falls, but so does the interest rate. The decline in equilibrium GDP is smaller than if the interest rate remained constant. ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... contractionary in the context of the “fear of floating” debate (Calvo and Reinhart 2002). These authors, among others, have argued that because in emerging countries many firms issue dollar-denominated debt, a large depreciation generates significant “balance sheet effects.” These may be so large tha ...
... contractionary in the context of the “fear of floating” debate (Calvo and Reinhart 2002). These authors, among others, have argued that because in emerging countries many firms issue dollar-denominated debt, a large depreciation generates significant “balance sheet effects.” These may be so large tha ...
Chapter 7
... In principle, the GDP deflator is not subject to the biases of the CPI because it uses the price change and the public response to those price changes in the basket of goods and services produced in the current year and the preceding year. In practice, the GDP deflator suffers from some of the CPI’s ...
... In principle, the GDP deflator is not subject to the biases of the CPI because it uses the price change and the public response to those price changes in the basket of goods and services produced in the current year and the preceding year. In practice, the GDP deflator suffers from some of the CPI’s ...
The profit cycle and economic recession
... sector through taxation). It also includes the value and profits appropriated by the financial sector, even though it is not productive in the Marxist sense. My measure of constant capital is for the capitalist sector only and so excludes household investment in homes and government investment. ...
... sector through taxation). It also includes the value and profits appropriated by the financial sector, even though it is not productive in the Marxist sense. My measure of constant capital is for the capitalist sector only and so excludes household investment in homes and government investment. ...
author and do not necessarily reflect those
... it also implies that the policy factors affecting domestic NX ...
... it also implies that the policy factors affecting domestic NX ...
Lecture Note on Classical Macroeconomic Theory
... fundamental assumptions of Classical macro theory are (1) that equilibrium values of most real variables can be determined without knowing the price level or the inflation rate; and (2) that the equilibrium value of the price level and the inflation rate are determined primarily by the central bank’ ...
... fundamental assumptions of Classical macro theory are (1) that equilibrium values of most real variables can be determined without knowing the price level or the inflation rate; and (2) that the equilibrium value of the price level and the inflation rate are determined primarily by the central bank’ ...
Measuring the Stance of Monetary Policy in Vietnam: A Structural
... policy works through credit and money channels. Also adopting the VAR approach, the analysis of Christiano and Eichenbaum (1992b) employed different measures of open market operations, such as non-borrowed reserves, the monetary base, including M0 and M1 as well as different identifying assumption t ...
... policy works through credit and money channels. Also adopting the VAR approach, the analysis of Christiano and Eichenbaum (1992b) employed different measures of open market operations, such as non-borrowed reserves, the monetary base, including M0 and M1 as well as different identifying assumption t ...
International Accounting Standard 29
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
... the currencies of hyperinflationary economies. The financial statements of any such subsidiary need to be restated by applying a general price index of the country in whose currency it reports before they are included in the consolidated financial statements issued by its parent. Where such a subsid ...
Fiscal policy and saving under distortionary taxation
... debt has a significant coefficient. In the present framework, the partial effect of the debt (or interest payments) on saving, holding constant the current tax rates, is expected to be positive because it signals a future tax rate increase. The paper is organized as follows. Section 2 presents the m ...
... debt has a significant coefficient. In the present framework, the partial effect of the debt (or interest payments) on saving, holding constant the current tax rates, is expected to be positive because it signals a future tax rate increase. The paper is organized as follows. Section 2 presents the m ...
Chapter 13 power point
... goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
... goods become more important so they stop cutting back • As consumers cut consumption, savings increase and they become more reassured about spending. ...
Sunrise of currency reform - The Kubatana Archive Site
... Faced... with the drying up of voluntary funding and support to agriculture by our banks from 2002 onwards due to collateral concerns and stability factors; Confronted by the need to sustain operations of certain parastatals while long-term solutions are sought…; and Faced with the choice of providi ...
... Faced... with the drying up of voluntary funding and support to agriculture by our banks from 2002 onwards due to collateral concerns and stability factors; Confronted by the need to sustain operations of certain parastatals while long-term solutions are sought…; and Faced with the choice of providi ...
Slide 1 - Amazon Web Services
... “Our recent growth although welcome has been unbalanced and based on strong commodity prices, strong capital inflows and strong domestic consumer demand, which has increased imports and strengthened the currency way beyond desirable levels”. ...
... “Our recent growth although welcome has been unbalanced and based on strong commodity prices, strong capital inflows and strong domestic consumer demand, which has increased imports and strengthened the currency way beyond desirable levels”. ...
Vontobel Financial Products GmbH Bank Vontobel Europe AG
... Right of withdrawal of the investors According to section 16 para. 3 of the German Securities Prospectus Act (Wertpapierprospektgesetz) investors, who have already agreed to purchase or subscribe for the securities issued under the Prospectus this Supplement is relating to before this Supplement is ...
... Right of withdrawal of the investors According to section 16 para. 3 of the German Securities Prospectus Act (Wertpapierprospektgesetz) investors, who have already agreed to purchase or subscribe for the securities issued under the Prospectus this Supplement is relating to before this Supplement is ...
Clashing Theories: Why Is Unemployment So High When Interest
... 1. Krugman (1998) is the foundation of modern work on the zero lower bound. The paper considers an economy without labor input, so the issue of unemployment does not arise. In the key section of the paper, the current price level is fixed. Productive capacity will be lower in the future than it is c ...
... 1. Krugman (1998) is the foundation of modern work on the zero lower bound. The paper considers an economy without labor input, so the issue of unemployment does not arise. In the key section of the paper, the current price level is fixed. Productive capacity will be lower in the future than it is c ...
The lasting impact of the Asian financial crisis
... The IMF made other serious mistakes that worsened the crisis. One of these was later acknowledged as an error in an internal Fund memo that was leaked to the press. This was the closing of sixteen Indonesian banks, a move that the IMF thought would help restore confidence in the banking system. Inst ...
... The IMF made other serious mistakes that worsened the crisis. One of these was later acknowledged as an error in an internal Fund memo that was leaked to the press. This was the closing of sixteen Indonesian banks, a move that the IMF thought would help restore confidence in the banking system. Inst ...
Tracking the Efficient Real Interest Rate
... rules into an ubiquitous positive tool used to describe actual policy decisions. This evolution of Taylor rules from normative to positive devices has been supported by a large literature documenting their excellent empirical performance using single equation estimation methods (Judd and Rudebusch, ...
... rules into an ubiquitous positive tool used to describe actual policy decisions. This evolution of Taylor rules from normative to positive devices has been supported by a large literature documenting their excellent empirical performance using single equation estimation methods (Judd and Rudebusch, ...
Fiscal policy considerations in the design of monetary policy
... is an independent public institution that has the objective of preserving monetary stability through the regulation of money and bank credit. On this basis, monetary policy in Peru follows a modified form of inflation targeting, in which the policy interest rate is used to counteract deviations of i ...
... is an independent public institution that has the objective of preserving monetary stability through the regulation of money and bank credit. On this basis, monetary policy in Peru follows a modified form of inflation targeting, in which the policy interest rate is used to counteract deviations of i ...
problems and solutions revized
... Problem 3.6A. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital affect the marginal product of labor? Problem 3.6B. Derive an expression for the marginal product of human capital. How does an increase in the amount of human capital affect the ...
... Problem 3.6A. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital affect the marginal product of labor? Problem 3.6B. Derive an expression for the marginal product of human capital. How does an increase in the amount of human capital affect the ...
Exercise 6 (+additional question) in Mankiw
... Problem 3.6A. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital affect the marginal product of labor? Problem 3.6B. Derive an expression for the marginal product of human capital. How does an increase in the amount of human capital affect the ...
... Problem 3.6A. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital affect the marginal product of labor? Problem 3.6B. Derive an expression for the marginal product of human capital. How does an increase in the amount of human capital affect the ...
Document
... c. Historical records of business cycles d. Views of what they believe is politically possible ANSWER: b 25. Which of the following is true? a. The policy lag refers to the time that elapses from the point when a significant and unexpected change in the economy’s performance occurs to when policymak ...
... c. Historical records of business cycles d. Views of what they believe is politically possible ANSWER: b 25. Which of the following is true? a. The policy lag refers to the time that elapses from the point when a significant and unexpected change in the economy’s performance occurs to when policymak ...
Full Text
... The global financial crisis has now lasted nearly six years. Naturally, it strongly influenced euro area economies and for some countries - notably Ireland and Spain - it triggered a banking crisis as real estate prices started to fall. These banking crises in turn contributed to the sovereign debt ...
... The global financial crisis has now lasted nearly six years. Naturally, it strongly influenced euro area economies and for some countries - notably Ireland and Spain - it triggered a banking crisis as real estate prices started to fall. These banking crises in turn contributed to the sovereign debt ...
ch19_5e
... An increase in investment must be reflected in either an increase in private saving or public saving, or in a deterioration of the trade balance. An increase in the budget deficit must be reflected in an increase in either private saving, or a decrease in investment, or a deterioration of the tr ...
... An increase in investment must be reflected in either an increase in private saving or public saving, or in a deterioration of the trade balance. An increase in the budget deficit must be reflected in an increase in either private saving, or a decrease in investment, or a deterioration of the tr ...
Currency Union and Foreign Direct Investment Inflow: Evidence from
... squares cannot be applied because there might be a spurious regression which affects the forecasting performance. A number of methods have been suggested to solve this problem. One of them is taking the differences of the series and then putting them into regressions. However, in this case, we are c ...
... squares cannot be applied because there might be a spurious regression which affects the forecasting performance. A number of methods have been suggested to solve this problem. One of them is taking the differences of the series and then putting them into regressions. However, in this case, we are c ...
CFO11e_ch29
... case, the Phillips Curve will shift to the right. If inflationary expectations decrease, the Phillips Curve will shift to the left— there will be less inflation at any given level of the unemployment rate. ...
... case, the Phillips Curve will shift to the right. If inflationary expectations decrease, the Phillips Curve will shift to the left— there will be less inflation at any given level of the unemployment rate. ...
L10_20110429
... output that is lost in the process of reducing inflation by one percentage point. • A typical estimate of the sacrifice ratio is around 3 to 5. • To reduce inflation from about 22% in early 1980 to 5% would have required an estimated sacrifice of more than 40% of annual output! Copyright © 2010 Ceng ...
... output that is lost in the process of reducing inflation by one percentage point. • A typical estimate of the sacrifice ratio is around 3 to 5. • To reduce inflation from about 22% in early 1980 to 5% would have required an estimated sacrifice of more than 40% of annual output! Copyright © 2010 Ceng ...