Money, Multiplier Accelerator Interaction, and the Business Cycle
... to Ye regardless of the current level of income, if and only if the point (y, ~) falls within the large stability triangle on the graph. The system will be subject to cyclical 9 The quantity of money that the monetary authorities would have to keep in circulation in order to maintain the interest ra ...
... to Ye regardless of the current level of income, if and only if the point (y, ~) falls within the large stability triangle on the graph. The system will be subject to cyclical 9 The quantity of money that the monetary authorities would have to keep in circulation in order to maintain the interest ra ...
A Demographic Explanation of U.S. and Japanese Current Account
... Another important factor determining demographic dynamics is the difference in immigration regimes. As we see from Figures 4.3 and 4.4, net immigration, measured both in absolute numbers and relative to the total population was significantly higher in the U.S. than in Japan during the entire post war ...
... Another important factor determining demographic dynamics is the difference in immigration regimes. As we see from Figures 4.3 and 4.4, net immigration, measured both in absolute numbers and relative to the total population was significantly higher in the U.S. than in Japan during the entire post war ...
Volume 36, Issue 4
... averages of those of its member countries, that have a greater degree of sovereignty than US member states. However, the Eurozone can be considered a closed economy. Extending the analysis to its single member countries, more similar to open economies, would entail different identification assumptio ...
... averages of those of its member countries, that have a greater degree of sovereignty than US member states. However, the Eurozone can be considered a closed economy. Extending the analysis to its single member countries, more similar to open economies, would entail different identification assumptio ...
Inflation - Bannerman High School
... Keynesian demand–pull inflation. This arises when the economy is booming and when aggregate demand is greater than full employment output. Output cannot be increased, prices rise in response to the excess demand. Demand–pull inflation may occur in particular sectors of the economy even when there is ...
... Keynesian demand–pull inflation. This arises when the economy is booming and when aggregate demand is greater than full employment output. Output cannot be increased, prices rise in response to the excess demand. Demand–pull inflation may occur in particular sectors of the economy even when there is ...
NBER WORKING PAPER SERIES TECHNOLOGY SHOCKS AND MONETARY POLICY: Jordi Galí
... analysis of the endogenous component of monetary policy, and its role in shaping the responses of nominal and real variables to different shocks. The contribution of the present paper to that research program is twofold. First, we study the behavior of the Federal Reserve (Fed) in response to a speci ...
... analysis of the endogenous component of monetary policy, and its role in shaping the responses of nominal and real variables to different shocks. The contribution of the present paper to that research program is twofold. First, we study the behavior of the Federal Reserve (Fed) in response to a speci ...
Document
... variables, including national income, unemployment, inflation, interest rates, exchange rates, and trade flows. ...
... variables, including national income, unemployment, inflation, interest rates, exchange rates, and trade flows. ...
Document
... is, inflation rate is positive – When price level is falling, as it did during Great Depression, we have a negative inflation rate • Called deflation ...
... is, inflation rate is positive – When price level is falling, as it did during Great Depression, we have a negative inflation rate • Called deflation ...
(from September 2015) Word Document
... follow including problems such as excess demand, possibility of black/unregulated markets emerging, the impact on producer revenue and also on producer and consumer surplus. Externalities: Cost or benefits to third parties arising from production or consumption that are not taken into account by the ...
... follow including problems such as excess demand, possibility of black/unregulated markets emerging, the impact on producer revenue and also on producer and consumer surplus. Externalities: Cost or benefits to third parties arising from production or consumption that are not taken into account by the ...
NBER WORKING PAPER SERIES MULTILATERAL ECONOMIC COOPERATION AND THE INTERNATIONAL
... (EA) and the UK as trading partners, our estimates suggest that an increase in US government spending by one percent of US GDP raises output by about 0.5 percent in the EA and 1 percent in the UK. These peak effects occur after about 2 years. In addition, we find that the dollar depreciates strongl ...
... (EA) and the UK as trading partners, our estimates suggest that an increase in US government spending by one percent of US GDP raises output by about 0.5 percent in the EA and 1 percent in the UK. These peak effects occur after about 2 years. In addition, we find that the dollar depreciates strongl ...
Document
... 18. Most economists think that labor unions in the United States have contributed significantly to inflation. ANSWER: F 19. Fiscal policy cannot deal with inflation on a long-term basis. ANSWER: T 20. Supply-side policies are a powerful anti-inflationary tool. ANSWER: F 21. Wage and price controls a ...
... 18. Most economists think that labor unions in the United States have contributed significantly to inflation. ANSWER: F 19. Fiscal policy cannot deal with inflation on a long-term basis. ANSWER: T 20. Supply-side policies are a powerful anti-inflationary tool. ANSWER: F 21. Wage and price controls a ...
The Great Liquidity Boom and the Monetary Superpower Hypothesis
... exchange reserves also take off, going from about $2 trillion in 2002 to over $5 trillion by the end of 2006. They, too, grow faster than the underlying global economy. Given this rapid growth of the global money stock, the global real short-term interest rate turns negative and deviates significant ...
... exchange reserves also take off, going from about $2 trillion in 2002 to over $5 trillion by the end of 2006. They, too, grow faster than the underlying global economy. Given this rapid growth of the global money stock, the global real short-term interest rate turns negative and deviates significant ...
The Great Liquidity Boom and the Monetary Superpower Hypothesis
... exchange reserves also take off, going from about $2 trillion in 2002 to over $5 trillion by the end of 2006. They, too, grow faster than the underlying global economy. Given this rapid growth of the global money stock, the global real short-term interest rate turns negative and deviates significant ...
... exchange reserves also take off, going from about $2 trillion in 2002 to over $5 trillion by the end of 2006. They, too, grow faster than the underlying global economy. Given this rapid growth of the global money stock, the global real short-term interest rate turns negative and deviates significant ...
Advances in Environmental Biology Estimating Non-Oil Exports Function of Iran Fatemeh Mohagheghzadeh,
... In 2002, Iran produced 3.5 million barrels of oil per day, but in the first eight months of 2003, 3.9 million barrels were produced per day. In 2007, 3.8 million barrels of oil were produced per day (4.5% of global production) from which approximately 2.4 million barrels were being exported to Europ ...
... In 2002, Iran produced 3.5 million barrels of oil per day, but in the first eight months of 2003, 3.9 million barrels were produced per day. In 2007, 3.8 million barrels of oil were produced per day (4.5% of global production) from which approximately 2.4 million barrels were being exported to Europ ...
Presentation - Norges Bank
... AD determined by long interest rates, which depend on the expected future path of short rates, i. By setting i < i* before and after the ZLB binds, CB might compensate for the fact i > i* when the ZLB binds. May be possible to achieve a long interest rate similar to that would have been observed if ...
... AD determined by long interest rates, which depend on the expected future path of short rates, i. By setting i < i* before and after the ZLB binds, CB might compensate for the fact i > i* when the ZLB binds. May be possible to achieve a long interest rate similar to that would have been observed if ...
macroeconomic challenges for mercosur countries in the post
... China since the 80s. Second, real commodity prices are at exceptionally high levels from a historical perspective. Third, after the international financial crisis of 2008, the compensatory expansionary monetary policies adopted by central banks of developed countries, especially the US Federal Reser ...
... China since the 80s. Second, real commodity prices are at exceptionally high levels from a historical perspective. Third, after the international financial crisis of 2008, the compensatory expansionary monetary policies adopted by central banks of developed countries, especially the US Federal Reser ...
Monetary Policy in the 2008-2009 Recession
... system to allocate resources efficiently, either across markets or over time, produced an underemployment equilibrium in which, in response to shocks, real output adjusted, not prices. In a way given by the multiplier, real output would adjust to the variations in investment driven by animal spirits ...
... system to allocate resources efficiently, either across markets or over time, produced an underemployment equilibrium in which, in response to shocks, real output adjusted, not prices. In a way given by the multiplier, real output would adjust to the variations in investment driven by animal spirits ...
Monetary Policy in the 2008–2009 Recession
... system to allocate resources efficiently, either across markets or over time, produced an underemployment equilibrium in which, in response to shocks, real output adjusted, not prices. In a way given by the multiplier, real output would adjust to the variations in investment driven by animal spirits ...
... system to allocate resources efficiently, either across markets or over time, produced an underemployment equilibrium in which, in response to shocks, real output adjusted, not prices. In a way given by the multiplier, real output would adjust to the variations in investment driven by animal spirits ...
Model for Analysis and Simulations (MAS)
... to three exogenous shocks: commodity export price shock, an oil price shock, and an external interest rate shock. We focus on those three shocks because empirical evidence has highlighted that external shocks explain a significative part of the Chilean business cycles.4 The impulse-response function ...
... to three exogenous shocks: commodity export price shock, an oil price shock, and an external interest rate shock. We focus on those three shocks because empirical evidence has highlighted that external shocks explain a significative part of the Chilean business cycles.4 The impulse-response function ...
Macroeconomics
... c. We discussed two bases for its slope. Explain each (14). 4. Explain two possibilities that would shift AS to the right (6). 5. a. Define productivity. b. We discussed four determinants of productivity. Explain each, including how each could cause productivity to grow. c. For each, illustrate the ...
... c. We discussed two bases for its slope. Explain each (14). 4. Explain two possibilities that would shift AS to the right (6). 5. a. Define productivity. b. We discussed four determinants of productivity. Explain each, including how each could cause productivity to grow. c. For each, illustrate the ...
macronotes - Houston H. Stokes Page
... Theory sets up simplified models which can determine the direction or movement of focus variables using (graphical models) or the numerical values of focus variables (numerical models). Econometric models can be estimated using econometrics. In most cases the only statistics needed is mean, variance ...
... Theory sets up simplified models which can determine the direction or movement of focus variables using (graphical models) or the numerical values of focus variables (numerical models). Econometric models can be estimated using econometrics. In most cases the only statistics needed is mean, variance ...
Deflation fears in developed economies
... The emphasis is on the deviation from the expectations, which may trigger pressure to adjust. One effect of inflation below the expected level (or deflation) will be a rise in real interest rates, which in turn influences the decisions of corporations as well as households. If the real interest rate ...
... The emphasis is on the deviation from the expectations, which may trigger pressure to adjust. One effect of inflation below the expected level (or deflation) will be a rise in real interest rates, which in turn influences the decisions of corporations as well as households. If the real interest rate ...
Monetary Policy
... and inflation rates low, but it can’t affect either of these economic variables directly. The Fed uses variables, called monetary policy targets, that it can affect directly and that, in turn, affect variables that are closely related to the Fed’s policy goals, such as real GDP, employment, and the ...
... and inflation rates low, but it can’t affect either of these economic variables directly. The Fed uses variables, called monetary policy targets, that it can affect directly and that, in turn, affect variables that are closely related to the Fed’s policy goals, such as real GDP, employment, and the ...
A REVISED CLASSICAL MODEL OF GROWTH
... smaller ones. In this case, technical progress will be necessarily capital-using, the outputcapital relation will be declining. While capital-using technical progress involves the substitution of capital for different activities performed by labor, capital saving technical progress derives from the ...
... smaller ones. In this case, technical progress will be necessarily capital-using, the outputcapital relation will be declining. While capital-using technical progress involves the substitution of capital for different activities performed by labor, capital saving technical progress derives from the ...
Measuring Unemployment
... Reduces the ability to make long-term plans • The more variable and unpredictable inflation is, the greater the difficulty of negotiating long-term ...
... Reduces the ability to make long-term plans • The more variable and unpredictable inflation is, the greater the difficulty of negotiating long-term ...