Scharpf , Fritz W.. 'Monetary Union, Fiscal Crisis and the Preemption of Democracy.' Paper presented at the LEQS Annual Lecture ' Saving the Euro at the expense of democracy in Europe?' on 12 May 2011 at the London School of Economics , LEQS Paper No. 36, May 2011
... II: From Monetarism in One Country to Monetary Union Originally, Monetarist as well as Keynesian models had been designed for national economies which were exposed to international competition in product markets, but retained control over their monetary regimes. For both, therefore, increasing capit ...
... II: From Monetarism in One Country to Monetary Union Originally, Monetarist as well as Keynesian models had been designed for national economies which were exposed to international competition in product markets, but retained control over their monetary regimes. For both, therefore, increasing capit ...
Chapter 7
... inflation rate: (Click on, in sequence, Canadian Statistics > Tables by subject > Prices and price indexes > Consumer price index > Consumer price index, historical summary) interest rates: (Click on, in sequence, Canadian Statistics > Tables by subject > Government > Monetary authorities > Exch ...
... inflation rate: (Click on, in sequence, Canadian Statistics > Tables by subject > Prices and price indexes > Consumer price index > Consumer price index, historical summary) interest rates: (Click on, in sequence, Canadian Statistics > Tables by subject > Government > Monetary authorities > Exch ...
NBER WO~G PAPER SERIES MACROECONOMIC POLICY ~ THE PRESENCE OF STRUCTURAL
... There is the possibility that monetary ...
... There is the possibility that monetary ...
ECON 4110: Money, Banking, and the Macroeconomy Final Exam
... B) the demand for real balances should increase more than proportionately with increases in real income. C) movements in the interest rate should not affect the demand for money. D) movements in the price level should not affect the demand for money. 24) An individual with a high income will probabl ...
... B) the demand for real balances should increase more than proportionately with increases in real income. C) movements in the interest rate should not affect the demand for money. D) movements in the price level should not affect the demand for money. 24) An individual with a high income will probabl ...
Inflation Report 1999/1
... Norges Bank’s projection for consumer price inflation is 2¼% in 1999, 1¾ % in 2000, and 1½% in 2001. Projected inflation is lower than in the December Inflation Report. The downward revision of the inflation projections reflects lower international price inflation and a fall in prices of imported go ...
... Norges Bank’s projection for consumer price inflation is 2¼% in 1999, 1¾ % in 2000, and 1½% in 2001. Projected inflation is lower than in the December Inflation Report. The downward revision of the inflation projections reflects lower international price inflation and a fall in prices of imported go ...
Lec_notes_1021
... would trade their goods for gold, but not because they necessarily wanted the gold. Rather, it was because they knew that they could buy other goods they wanted with the gold. Once gold is accepted not for its intrinsic value but for its ability to purchase other things, it has become money, that i ...
... would trade their goods for gold, but not because they necessarily wanted the gold. Rather, it was because they knew that they could buy other goods they wanted with the gold. Once gold is accepted not for its intrinsic value but for its ability to purchase other things, it has become money, that i ...
Monetary Policy Functions and Transmission Mechanisms: An
... rationing that arises from information asymmetries between financial institutions and the firms and consumers to which they lend. This occurs because monetary policy affects the extent of adverse selection and moral hazard that constrain credit provision. It is argued that a monetary expansion allev ...
... rationing that arises from information asymmetries between financial institutions and the firms and consumers to which they lend. This occurs because monetary policy affects the extent of adverse selection and moral hazard that constrain credit provision. It is argued that a monetary expansion allev ...
Chapter 21 : The Monetary Policy and Aggregate Demand Curves
... A. The Federal Reserve and Monetary Policy 1. Fed’s primary policy tool is very short-term nominal interest rates, i. (controlled by adding and draining reserves from banking system). 2. Recall Fisher Equation r = i − πe The federal funds rate is a nominal interest rate i, but it is the real interes ...
... A. The Federal Reserve and Monetary Policy 1. Fed’s primary policy tool is very short-term nominal interest rates, i. (controlled by adding and draining reserves from banking system). 2. Recall Fisher Equation r = i − πe The federal funds rate is a nominal interest rate i, but it is the real interes ...
exemplars and commentary
... decreases because when the $NZ is strong this decreases (X-M) because what foreign currency exporters earn now converts to less $NZ, and it is a component of AD, this causes a shift of the AD curve inwards to AD1, causing less demand-pull inflation (PL to PL1). Additionally, exporting firms will the ...
... decreases because when the $NZ is strong this decreases (X-M) because what foreign currency exporters earn now converts to less $NZ, and it is a component of AD, this causes a shift of the AD curve inwards to AD1, causing less demand-pull inflation (PL to PL1). Additionally, exporting firms will the ...
powerpoint
... Hence, the demand for employment cannot be met by the supply because employers do not want to hire more for workers at higher wages ...
... Hence, the demand for employment cannot be met by the supply because employers do not want to hire more for workers at higher wages ...
International Dimensions Of Monetary And Fiscal Policy
... Macroeconomics’ international goals are less straightforward than its domestic goals. ...
... Macroeconomics’ international goals are less straightforward than its domestic goals. ...
Entire Unit Module - Tippie College of Business
... the distribution of income and create uncertainty for investors and financial markets. Consistency and stability of the dollar’s exchange rate make international trade less risky. Hence, in addition to monitoring the interest rate, the Fed oversees the dollar fluctuations in the foreign exchange mar ...
... the distribution of income and create uncertainty for investors and financial markets. Consistency and stability of the dollar’s exchange rate make international trade less risky. Hence, in addition to monitoring the interest rate, the Fed oversees the dollar fluctuations in the foreign exchange mar ...
Macroeconomics in developing countries
... The most important example, perhaps, is the Keynesian idea that investment is an independent (exogenous) variable to which saving adjusts as a dependent (endogenous) variable. Investment is autonomous, deterrnined by profit expectations of firrns, while saving is induced, determined by income of hou ...
... The most important example, perhaps, is the Keynesian idea that investment is an independent (exogenous) variable to which saving adjusts as a dependent (endogenous) variable. Investment is autonomous, deterrnined by profit expectations of firrns, while saving is induced, determined by income of hou ...
PDF
... With the productivity of US agriculture growing faster than domestic food and fiber demand, U.S farmers and agricultural firms rely heavily on export markets, to sustain price revenues. U.S agricultural exports have been larger than imports since 1960, generating a surplus in agricultural trade. The ...
... With the productivity of US agriculture growing faster than domestic food and fiber demand, U.S farmers and agricultural firms rely heavily on export markets, to sustain price revenues. U.S agricultural exports have been larger than imports since 1960, generating a surplus in agricultural trade. The ...
Financing the MDGs and green growth CHAPTER TWO
... Under the prevailing economic orthodoxy of the “Washington Consensus”, the general rule of thumb has thus been that the fiscal deficit should be limited to around 3% of GDP for all countries, regardless of their economic conditions. Curiously, this target was first set in the European Union as a par ...
... Under the prevailing economic orthodoxy of the “Washington Consensus”, the general rule of thumb has thus been that the fiscal deficit should be limited to around 3% of GDP for all countries, regardless of their economic conditions. Curiously, this target was first set in the European Union as a par ...
Responses of Inflation and Output to Shocks in
... Rodrigo et al. (2011) estimated a DSGE model for a small open economy that incorporates financial frictions to analyze the consequence of the global financial crisis in 2008-9 on Chilean economy. Peiris and Saxegaard (2007) using DSGE model to evaluate monetary policy tradeoffs in low-income countri ...
... Rodrigo et al. (2011) estimated a DSGE model for a small open economy that incorporates financial frictions to analyze the consequence of the global financial crisis in 2008-9 on Chilean economy. Peiris and Saxegaard (2007) using DSGE model to evaluate monetary policy tradeoffs in low-income countri ...
It`s the end of the Dollar as we know it, and I feel fine
... traded currency, the bid/ask spread is typically lower when using the IRC.2 As an international store of value the IRC must maintain its value relative to other currencies. For example, both private and public holders of dollars will not continue to hold dollar-denominated assets if it loses value o ...
... traded currency, the bid/ask spread is typically lower when using the IRC.2 As an international store of value the IRC must maintain its value relative to other currencies. For example, both private and public holders of dollars will not continue to hold dollar-denominated assets if it loses value o ...
04/2012 Rohit Azad and Anupam Das Abstract
... There has been a great deal of empirical work, both within the mainstream and heterodox frameworks, to study the relationship between unemployment and inflation especially in the era of globalization. This has been particularly so because of an almost tame response of inflation in the advanced natio ...
... There has been a great deal of empirical work, both within the mainstream and heterodox frameworks, to study the relationship between unemployment and inflation especially in the era of globalization. This has been particularly so because of an almost tame response of inflation in the advanced natio ...
Impacts of Government Debt, the Exchange Rate and Other
... gdp would increase real gdp by 0.2784 during 2000.q4–2008.q4 and reduce real gdp by 0.1814 during 2009.q1–2015.q4. A 1 real appreciation of the kuna would cause real gdp to rise by 0.2629. If German real gdp rises 1, Croatia’s real gdp would increase by 0.3883. The negative relationship of gov ...
... gdp would increase real gdp by 0.2784 during 2000.q4–2008.q4 and reduce real gdp by 0.1814 during 2009.q1–2015.q4. A 1 real appreciation of the kuna would cause real gdp to rise by 0.2629. If German real gdp rises 1, Croatia’s real gdp would increase by 0.3883. The negative relationship of gov ...
Meiji Institute for Global Affairs MIGA COLUMN GLOBAL DIAGNOSIS
... 0.2% of the euro zone. The country had aimed to establish itself financially as a so-called tax haven, and worked to attract foreign companies by lowering its corporate tax rates. It collected deposits from overseas due to its relatively high interest rates. This island nation has also come to be re ...
... 0.2% of the euro zone. The country had aimed to establish itself financially as a so-called tax haven, and worked to attract foreign companies by lowering its corporate tax rates. It collected deposits from overseas due to its relatively high interest rates. This island nation has also come to be re ...
The Phillips Curve
... • In ch17, we began our model in 1949 because our theory may not apply when the government directly controls prices, as it did during WWII. • We use new-Keynesian theory to show that a model in which expectations are fixed cannot account for the experiences of the 1970s and 1980s. ...
... • In ch17, we began our model in 1949 because our theory may not apply when the government directly controls prices, as it did during WWII. • We use new-Keynesian theory to show that a model in which expectations are fixed cannot account for the experiences of the 1970s and 1980s. ...
Read the Full Report
... judged with a view to avoiding excessive departures from full employment. For the controls, I selected from the other 22 economies those that have an exchange-rate regime that gives monetary policy independence and no material change in monetary policy arrangements. The exchange-rate regime eliminat ...
... judged with a view to avoiding excessive departures from full employment. For the controls, I selected from the other 22 economies those that have an exchange-rate regime that gives monetary policy independence and no material change in monetary policy arrangements. The exchange-rate regime eliminat ...
Ch. 12: US Inflation, Unemployment and Business Cycles
... aggregate demand grows at a fluctuating rate, real GDP fluctuates around potential GDP. ...
... aggregate demand grows at a fluctuating rate, real GDP fluctuates around potential GDP. ...