A Comparison of Twelve Macroeconomic Models
... monetary policy rule that would give good results in models of the Canadian economy.1 We wanted our approach to differ from that used in previous studies in three respects. First, while most previous studies had used models of the U.S. economy, we wanted ours to focus on Canada’s small open economy. ...
... monetary policy rule that would give good results in models of the Canadian economy.1 We wanted our approach to differ from that used in previous studies in three respects. First, while most previous studies had used models of the U.S. economy, we wanted ours to focus on Canada’s small open economy. ...
Mankiw SM Chap13 correct size:chap13.qxd.qxd
... Y = Y + α(P – EP). The first model is the sticky-price model. The market imperfection in this model is that prices in the goods market do not adjust immediately to changes in demand conditions—the goods market does not clear instantaneously. If the demand for a firm’s goods falls, some respond by re ...
... Y = Y + α(P – EP). The first model is the sticky-price model. The market imperfection in this model is that prices in the goods market do not adjust immediately to changes in demand conditions—the goods market does not clear instantaneously. If the demand for a firm’s goods falls, some respond by re ...
The social and scientific temporal correlates of genotypic
... Flynn efect seems to be strongly parallel to the growth of GDP The common factor of these two variables is well predicted by growing literacy and decreasing homicide rates ...
... Flynn efect seems to be strongly parallel to the growth of GDP The common factor of these two variables is well predicted by growing literacy and decreasing homicide rates ...
Principles of Macroeconomics
... understand basic economic concepts such as scarcity and comparative advantage and measurement concepts such as gross domestic product, consumption. investment, unemployment and inflation. Candidates are also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank ...
... understand basic economic concepts such as scarcity and comparative advantage and measurement concepts such as gross domestic product, consumption. investment, unemployment and inflation. Candidates are also expected to demonstrate knowledge of the institutional structure of the Federal Reserve Bank ...
WIKILEAKS
... between inflation and unemployment. They predicted a breakdown of the Phillips curve. They argued that while monetary or fiscal policy might be conducted in such a way as to realize a particular combination of unemployment and inflation in the short run, it would not necessarily be a sustainable com ...
... between inflation and unemployment. They predicted a breakdown of the Phillips curve. They argued that while monetary or fiscal policy might be conducted in such a way as to realize a particular combination of unemployment and inflation in the short run, it would not necessarily be a sustainable com ...
growth rates
... period and then drop abruptly to stable growth • Firms that will have high growth for a specified period and then grow through a transition phase to reach stable growth at some point in the future It is important that as the growth rate changes, the firm’s risk and cash flow characteristics change a ...
... period and then drop abruptly to stable growth • Firms that will have high growth for a specified period and then grow through a transition phase to reach stable growth at some point in the future It is important that as the growth rate changes, the firm’s risk and cash flow characteristics change a ...
GROWTH, DEBT AND FINANCE IN THE CARIBBEAN
... There are several available strategies to deal with debt accumulation. The most obvious one is to substantially increase the primary balance, that is, the difference between revenues and expenditures excluding interest payments. This policy alternative responds to an empirical fact. Since the expans ...
... There are several available strategies to deal with debt accumulation. The most obvious one is to substantially increase the primary balance, that is, the difference between revenues and expenditures excluding interest payments. This policy alternative responds to an empirical fact. Since the expans ...
A Global Macroeconomic Forecasting Model for
... Findings and Conclusions, 2 This work: cross-region ripple effects to key ...
... Findings and Conclusions, 2 This work: cross-region ripple effects to key ...
Real Interest Rate
... decrease supply increase in depository institutions. c. decrease increase There is an increase in demand for the d. decrease decrease dollar and it appreciates, decreasing the e. decrease not change dollar price of the peso. (41%) 10. If the real interest rate in Canada increases relative to the rea ...
... decrease supply increase in depository institutions. c. decrease increase There is an increase in demand for the d. decrease decrease dollar and it appreciates, decreasing the e. decrease not change dollar price of the peso. (41%) 10. If the real interest rate in Canada increases relative to the rea ...
Brazil: Recent Macroeconomic and Financial Developments
... Recent Initiatives to Inject Liquidity in Foreign Currency Market • Sales of USD in repurchase agreement auctions; • Reduction of reserve requirements for banks acquiring USD with repurchase agreement; ...
... Recent Initiatives to Inject Liquidity in Foreign Currency Market • Sales of USD in repurchase agreement auctions; • Reduction of reserve requirements for banks acquiring USD with repurchase agreement; ...
NBER WORKING PAPER SERIES DEBT PROBLEMS AND THE WORLD MACRO ECONOMY Rudiger Dornbusch
... creditors decide that exposure is excessive and therefore limit new money commitments and require that maturing principal be paid off. We now proceed to identify the impact of world macroeconomic events on debtor countries. Specifically, given policies such as the real exchange rate and fiscal polic ...
... creditors decide that exposure is excessive and therefore limit new money commitments and require that maturing principal be paid off. We now proceed to identify the impact of world macroeconomic events on debtor countries. Specifically, given policies such as the real exchange rate and fiscal polic ...
Mankiw 5/e Chapter 14: Stabilization Policy
... •It’s hard to identify shocks in the data, •and it’s hard to tell how things would have been different had actual policies not been used. Can’t answer whether the policy should be active or passive CHAPTER 14 ...
... •It’s hard to identify shocks in the data, •and it’s hard to tell how things would have been different had actual policies not been used. Can’t answer whether the policy should be active or passive CHAPTER 14 ...
DETERMINANTS OF HIGH INFLATION IN AN LDC:
... 3.1. Instability in Mean Inflation: Inspection of the stability or otherwise of inflation was done using the Cumulative Sum(CUSUM) of the residuals which revealed that a number of significant structural breaks may have occurred in the periods 1975:3, 1979:4, 1982:4, 1985:2, 1988:3 and 1992:1. The Ch ...
... 3.1. Instability in Mean Inflation: Inspection of the stability or otherwise of inflation was done using the Cumulative Sum(CUSUM) of the residuals which revealed that a number of significant structural breaks may have occurred in the periods 1975:3, 1979:4, 1982:4, 1985:2, 1988:3 and 1992:1. The Ch ...
ch18lecture
... The Effects of Fiscal Policy The three steps in the transmission of fiscal policy are: Step 1 An increase in government purchases or a tax cut increases aggregate expenditure and increases aggregate demand with a multiplier. Step 2 A change in real GDP changes the demand for money, which changes the ...
... The Effects of Fiscal Policy The three steps in the transmission of fiscal policy are: Step 1 An increase in government purchases or a tax cut increases aggregate expenditure and increases aggregate demand with a multiplier. Step 2 A change in real GDP changes the demand for money, which changes the ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Rational Expectations and Economic Policy
... changes in expected real wages have important effects upon labor supply even though permanent changes have little or even slightly negative effects. We find the theory that monetary shocks have important effects on real aggregates appealing and the evidence supportive. But we think shocks to technol ...
... changes in expected real wages have important effects upon labor supply even though permanent changes have little or even slightly negative effects. We find the theory that monetary shocks have important effects on real aggregates appealing and the evidence supportive. But we think shocks to technol ...
unemployment
... outsiders unemployed (often a European issue) – in effect, the unemployed have become disenfranchised. • Insiders may also lobby for more generous unemployment benefits. ...
... outsiders unemployed (often a European issue) – in effect, the unemployed have become disenfranchised. • Insiders may also lobby for more generous unemployment benefits. ...
NBER WORKING PAPER SERIES AND THE REAL EXCHANGE RATE
... Mundell-Flemming extension to an open economy of the Hicksian IS-LM model, while capturing the increase in consumption, fails to account for the observed real depreciation of the exchange rate that follows an increase in public consumption. Within this framework, an increase in government purchases ...
... Mundell-Flemming extension to an open economy of the Hicksian IS-LM model, while capturing the increase in consumption, fails to account for the observed real depreciation of the exchange rate that follows an increase in public consumption. Within this framework, an increase in government purchases ...
The Unemployment Bias of the New Consensus View of
... its ‘unemployment bias’. Some indirect evidence for the existence of this bias can be derived form a rather unsuspected source. In late 1995, members of the Federal Open Market Committee (FOMC) at the Federal Reserve Board discussed alternative interest rate strategies in order to achieve the long- ...
... its ‘unemployment bias’. Some indirect evidence for the existence of this bias can be derived form a rather unsuspected source. In late 1995, members of the Federal Open Market Committee (FOMC) at the Federal Reserve Board discussed alternative interest rate strategies in order to achieve the long- ...
REVIEW QUESTIONS AP Economics Mr. Bordelon
... Suppose the economy is initially at E1, and then moves to E2 where AD2 intersects SRAS1. Finally the economy moves to E3. The classical model of price level: a. Assumes that the economy moves from E1 to E3 and ignores E2; thus only inflation increases but real GDP remains the same. b. Assumes that ...
... Suppose the economy is initially at E1, and then moves to E2 where AD2 intersects SRAS1. Finally the economy moves to E3. The classical model of price level: a. Assumes that the economy moves from E1 to E3 and ignores E2; thus only inflation increases but real GDP remains the same. b. Assumes that ...
dees mmi08 6664950 en
... could be a unit root process (at least in the case of some economies), or its mean might have been subject to structural breaks as some have argued in the case of the industrialised economies over the past two decades. It is also not clear that the HP filter is appropriate for the identification of ...
... could be a unit root process (at least in the case of some economies), or its mean might have been subject to structural breaks as some have argued in the case of the industrialised economies over the past two decades. It is also not clear that the HP filter is appropriate for the identification of ...
Unemployment and Inflation
... B. Frictional unemployment 1. Economists say that workers who spend time looking for employment are engaged in job search. 2. Definition: Frictional unemployment is unemployment due to the time workers spend in search of a job. C. Structural unemployment 1. Definition: Structural unemployment is une ...
... B. Frictional unemployment 1. Economists say that workers who spend time looking for employment are engaged in job search. 2. Definition: Frictional unemployment is unemployment due to the time workers spend in search of a job. C. Structural unemployment 1. Definition: Structural unemployment is une ...
Document
... (c) prices no longer indicate value or direct resource allocation. (d) the demand for real money balances increases significantly. ...
... (c) prices no longer indicate value or direct resource allocation. (d) the demand for real money balances increases significantly. ...
The role of assessments and judgement in the
... prices. At the same time, a 1% increase in unemployment (eg from 5% to 5.05%) contributes to reducing unit labour costs by 0.1% in the long run. The long-term relationship between labour costs, productivity, prices and unemployment may be interpreted as an expression of the social partners’ compromi ...
... prices. At the same time, a 1% increase in unemployment (eg from 5% to 5.05%) contributes to reducing unit labour costs by 0.1% in the long run. The long-term relationship between labour costs, productivity, prices and unemployment may be interpreted as an expression of the social partners’ compromi ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... in world trade (the industrial countries’ unit export value) and nominal commodity prices. Table 8.4 shows data for these aggregate indices. The table reports the averages for the 1960s and 1970s and more detailed information on the period of the debt crisis. In addition to interest rates, real comm ...
... in world trade (the industrial countries’ unit export value) and nominal commodity prices. Table 8.4 shows data for these aggregate indices. The table reports the averages for the 1960s and 1970s and more detailed information on the period of the debt crisis. In addition to interest rates, real comm ...
When Does Domestic Saving Matter for Economic
... results mainly from innovations that allow local sectors to catch up with the current frontier technology. But catching up with the frontier in any sector requires the involvement of a foreign investor, who is familiar with the frontier technology, together with effort on the part of a local entrepr ...
... results mainly from innovations that allow local sectors to catch up with the current frontier technology. But catching up with the frontier in any sector requires the involvement of a foreign investor, who is familiar with the frontier technology, together with effort on the part of a local entrepr ...