The Caucasus and Central Asia: Transitioning to Emerging
... completed many reforms—such as the privatization of small and medium firms, price liberalization, and exchange rate unification—to enable the establishment of market economies. They have achieved stronger growth than countries in other regions, though this growth has been relatively volatile and gai ...
... completed many reforms—such as the privatization of small and medium firms, price liberalization, and exchange rate unification—to enable the establishment of market economies. They have achieved stronger growth than countries in other regions, though this growth has been relatively volatile and gai ...
Inflation: Causes and Consequences
... increases in velocity owing to increases in government spending, consumer spending, or investment spending. (3) Even if nominal aggregate demand does not change, the growth rate of aggregate supply could fall. Response to monetary policy. A one-time increase in the money supply ultimately leads to a ...
... increases in velocity owing to increases in government spending, consumer spending, or investment spending. (3) Even if nominal aggregate demand does not change, the growth rate of aggregate supply could fall. Response to monetary policy. A one-time increase in the money supply ultimately leads to a ...
Uncertainty, Capital Flows, and Maturity Mismatch
... Output in emerging markets is significantly more volatile than in advanced economies.1 Recent work has showed that fluctuations in aggregate total factor productivity (TFP) are the main source of that higher volatility.2 These findings raise the question of why the efficiency with which capital and ...
... Output in emerging markets is significantly more volatile than in advanced economies.1 Recent work has showed that fluctuations in aggregate total factor productivity (TFP) are the main source of that higher volatility.2 These findings raise the question of why the efficiency with which capital and ...
Can global economic conditions explain low New Zealand inflation? AN2015/03
... Figure 1 breaks down the contribution of tradables and non-tradables inflation to CPI inflation. The deviation of annual CPI inflation from its long-term average is presented in the black line. The contribution tradables inflation makes to this total deviation from average is presented in the grey b ...
... Figure 1 breaks down the contribution of tradables and non-tradables inflation to CPI inflation. The deviation of annual CPI inflation from its long-term average is presented in the black line. The contribution tradables inflation makes to this total deviation from average is presented in the grey b ...
External and Domestic Debt
... of payments and the projected capital inflows is known as the financing gap. In crude terms, if the financing gap is approaching zero in the longterm, debt is considered to be sustainable. Whereas if a financing gap exists, it can be filled by resorting to additional borrowing, rescheduling and debt ...
... of payments and the projected capital inflows is known as the financing gap. In crude terms, if the financing gap is approaching zero in the longterm, debt is considered to be sustainable. Whereas if a financing gap exists, it can be filled by resorting to additional borrowing, rescheduling and debt ...
Chapter 22 - Samuel Moon Jung
... 22) Explain through the component parts of aggregate demand why the aggregate demand curve slopes down with respect to the inflation rate. Be sure to discuss two channels through which changes in inflation rates affect demand. Answer: A fall in the inflation rate lowers real interest rates. Lower ra ...
... 22) Explain through the component parts of aggregate demand why the aggregate demand curve slopes down with respect to the inflation rate. Be sure to discuss two channels through which changes in inflation rates affect demand. Answer: A fall in the inflation rate lowers real interest rates. Lower ra ...
Présentation sur fond blanc
... This document which is not contractual and not part of documents usually certified by statutory auditors, is provided solely for information purposes by Crédit Agricole Asset Management, based on sources that we consider to be reliable. Crédit Agricole Asset Management can in no way be held responsi ...
... This document which is not contractual and not part of documents usually certified by statutory auditors, is provided solely for information purposes by Crédit Agricole Asset Management, based on sources that we consider to be reliable. Crédit Agricole Asset Management can in no way be held responsi ...
Chapter 1: Introduction
... the Phillips curve: the relationship between inflation and unemployment according to which a higher rate of unemployment is associated with a lower rate of inflation. The Phillips curve is a way of looking at aggregate supply that happens to be the most convenient way most of the time. Understand th ...
... the Phillips curve: the relationship between inflation and unemployment according to which a higher rate of unemployment is associated with a lower rate of inflation. The Phillips curve is a way of looking at aggregate supply that happens to be the most convenient way most of the time. Understand th ...
Principles of Macroeconomics
... • Recessions and recoveries, unemployment, inflation, deflation and conditions in financial markets—topics of ongoing reporting, discussion, and debate. • Monetary and fiscal policy announcements and discussions focused on inflation targets, interest rate settings, budget balances, tax rates, expend ...
... • Recessions and recoveries, unemployment, inflation, deflation and conditions in financial markets—topics of ongoing reporting, discussion, and debate. • Monetary and fiscal policy announcements and discussions focused on inflation targets, interest rate settings, budget balances, tax rates, expend ...
modules 31 to 35
... However, in the long run, it also raises prices. Increased Inflation. In the long run, monetary policy changes the price level but does not change real aggregate output or the ...
... However, in the long run, it also raises prices. Increased Inflation. In the long run, monetary policy changes the price level but does not change real aggregate output or the ...
FISCAL AND MONETARY POLICY INTERACTIONS: A GAME
... Palavras-chave: Política Fiscal e Monetária, Teoria dos Jogos, Equilíbrio de Nash, Equilíbrio de Stackelberg, Cooperação, Brasil. ...
... Palavras-chave: Política Fiscal e Monetária, Teoria dos Jogos, Equilíbrio de Nash, Equilíbrio de Stackelberg, Cooperação, Brasil. ...
A Review of Crisis Management Programs Supported by IMF Stand
... than originally forecast. Programs allowed fiscal automatic stabilizers to operate when output collapsed, but IMF financing generally does not appear to have accommodated the full extent of the fiscal shortfall. Considerable learning had taken place since the emerging market crises of the late 1990s ...
... than originally forecast. Programs allowed fiscal automatic stabilizers to operate when output collapsed, but IMF financing generally does not appear to have accommodated the full extent of the fiscal shortfall. Considerable learning had taken place since the emerging market crises of the late 1990s ...
The implementation of the revised country classification and terms of
... At the operational level, an effort should be made to maintain at least a one percentage point differential between the SDF (U) and OCR interest rates. The narrowing of the gap towards that limit should provide a trigger for the review of the SDF (U) interest rate to minimise the risk of convergence ...
... At the operational level, an effort should be made to maintain at least a one percentage point differential between the SDF (U) and OCR interest rates. The narrowing of the gap towards that limit should provide a trigger for the review of the SDF (U) interest rate to minimise the risk of convergence ...
2016 World Economic Situation
... Prospects for global macroeconomic development The world economy stumbled in 2015 The world gross product is projected to grow by a mere 2.4 per cent in 2015, a significant downward revision from the 2.8 per cent forecast in the World Economic Situation and Prospects as of mid-2015. More than seven ...
... Prospects for global macroeconomic development The world economy stumbled in 2015 The world gross product is projected to grow by a mere 2.4 per cent in 2015, a significant downward revision from the 2.8 per cent forecast in the World Economic Situation and Prospects as of mid-2015. More than seven ...
World Economic Situation and Prospects 2016
... Prospects for global macroeconomic development The world economy stumbled in 2015 The world gross product is projected to grow by a mere 2.4 per cent in 2015, a significant downward revision from the 2.8 per cent forecast in the World Economic Situation and Prospects as of mid-2015. More than seven ...
... Prospects for global macroeconomic development The world economy stumbled in 2015 The world gross product is projected to grow by a mere 2.4 per cent in 2015, a significant downward revision from the 2.8 per cent forecast in the World Economic Situation and Prospects as of mid-2015. More than seven ...
IS THERE A TRADE-OFF BETWEEN INFLATION AND OUTPUT STABILIZATION?
... response to labor supply shocks under optimal policy does not change much whether those shocks come from changes in workers’tastes or in their monopoly power, even if the response of the e¢ cient economy does. This paper is related to a large literature on the estimation of DSGE models (e.g. Rotembe ...
... response to labor supply shocks under optimal policy does not change much whether those shocks come from changes in workers’tastes or in their monopoly power, even if the response of the e¢ cient economy does. This paper is related to a large literature on the estimation of DSGE models (e.g. Rotembe ...
AP ECON – Final Exam Review
... all unspent money is deposited in the bank. The interest rate measures which of the following? I. the cost of using a dollar today rather than a year from now II. the benefit of delaying the use of a dollar from today until a year from now III. the price of borrowing money calculated as a percentage ...
... all unspent money is deposited in the bank. The interest rate measures which of the following? I. the cost of using a dollar today rather than a year from now II. the benefit of delaying the use of a dollar from today until a year from now III. the price of borrowing money calculated as a percentage ...
A Literature Survey with Special Reference to Theories of Inflation
... cases of rising wages, interest rates, taxes, imported input prices, or exchange rates, then some economists prefer to use the term cost-push inflation to describe this phenomenon. In practice, however, it is not always easy to decompose the observed inflation into its demand-pull and cost-push comp ...
... cases of rising wages, interest rates, taxes, imported input prices, or exchange rates, then some economists prefer to use the term cost-push inflation to describe this phenomenon. In practice, however, it is not always easy to decompose the observed inflation into its demand-pull and cost-push comp ...
The Phillips Curve and US Monetary Policy
... level of operating capacity, or some measure of resource utilization. In most cases, this discussion arose during the pre-policy discussion portion of the meeting, and reflected an understanding of the relationship between output constraints, on the one hand, and inflation, on the other hand, as ref ...
... level of operating capacity, or some measure of resource utilization. In most cases, this discussion arose during the pre-policy discussion portion of the meeting, and reflected an understanding of the relationship between output constraints, on the one hand, and inflation, on the other hand, as ref ...
DETERMINANT AND IMPACTS OF DYNAMIC INFLATION IN
... measure of inflation because Inflation in Ethiopia is measured by using consumer price index (CPI), which is composed of food and non-food prices on monthly bases. In Ethiopia the history and trend of inflation shows that, prior to 2002 inflation has remained more or less stable. The country has no ...
... measure of inflation because Inflation in Ethiopia is measured by using consumer price index (CPI), which is composed of food and non-food prices on monthly bases. In Ethiopia the history and trend of inflation shows that, prior to 2002 inflation has remained more or less stable. The country has no ...
Aggregate Supply-Driven Deflation and Its Implications for Macroeconomic Stability David Beckworth
... also find the zero bound on the nominal interest rate was rarely reached and never happened in the context of good deflation. Bordo and Filardo (2005), in a similar study, examine 30 countries over the last two centuries and also come up with the good, bad, and ugly types of deflation. They note tha ...
... also find the zero bound on the nominal interest rate was rarely reached and never happened in the context of good deflation. Bordo and Filardo (2005), in a similar study, examine 30 countries over the last two centuries and also come up with the good, bad, and ugly types of deflation. They note tha ...
Free Full Text ( Final Version , 817kb )
... dynamics. I divided post-reform inflation into 2 periods, 8 cycles. 1997 can be considered as the watershed of the two periods. Each period includes 4 cycles respectively: the pre-1997 period includes 1978-1981, 1982-1986, 1987-1990, and 1991-1996 while the after-1997 period contains 1997-2002, 2003 ...
... dynamics. I divided post-reform inflation into 2 periods, 8 cycles. 1997 can be considered as the watershed of the two periods. Each period includes 4 cycles respectively: the pre-1997 period includes 1978-1981, 1982-1986, 1987-1990, and 1991-1996 while the after-1997 period contains 1997-2002, 2003 ...
DOES OPENNESS IMPLY GREATER EXPOSURE?*
... instrument for the supply of capital to the domestic economy, while average growth of all trading partners could be an adequate instrument for the foreign demand of exports by the domestic economy. Foreign shocks are measured in two ways: the rate of growth or deviation of a foreign variable from it ...
... instrument for the supply of capital to the domestic economy, while average growth of all trading partners could be an adequate instrument for the foreign demand of exports by the domestic economy. Foreign shocks are measured in two ways: the rate of growth or deviation of a foreign variable from it ...