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active learning
... Fisher (1911): The Purchasing Power of Money: Let us begin with the money side. If the number of dollars in a country is 5,000,000, and their velocity of circulation is twenty times per year, then the total amount of money changing hands (for goods) per year is 5,000,000 times twenty, or $100,000,00 ...
... Fisher (1911): The Purchasing Power of Money: Let us begin with the money side. If the number of dollars in a country is 5,000,000, and their velocity of circulation is twenty times per year, then the total amount of money changing hands (for goods) per year is 5,000,000 times twenty, or $100,000,00 ...
Private sector expectations for inflation and economic activity in the
... Indicators of longer-term inflation expectations Longer-term inflation expectations remained stable at 1.9% for the 13th consecutive round of the SPF. This is in line with the recently published Euro Zone Barometer estimate and 0.1 percentage point lower than the three-month old Consensus Economics ...
... Indicators of longer-term inflation expectations Longer-term inflation expectations remained stable at 1.9% for the 13th consecutive round of the SPF. This is in line with the recently published Euro Zone Barometer estimate and 0.1 percentage point lower than the three-month old Consensus Economics ...
Outlook for EU - Inter-American Development Bank
... Early warning models of FX and debt problems tend to overpredict crises, need to be updated for regime changes and are as good as the forecasts that go into them. Nevertheless, we have developed two models of our own with more limited objectives. The SCI is an econometric model consisting of a singl ...
... Early warning models of FX and debt problems tend to overpredict crises, need to be updated for regime changes and are as good as the forecasts that go into them. Nevertheless, we have developed two models of our own with more limited objectives. The SCI is an econometric model consisting of a singl ...
NBER WORKING PAPER SERIES AN ALTERNATIVE INTERPRETATION OF THE ‘RESOURCE CURSE’:
... The existence of a natural resource curse has been a longstanding theme in the economic literature and in policy discussions. We propose an alternative mechanism and study its policy implications. The mechanism is based on the interaction between two building blocks: specialization in non-tradables ...
... The existence of a natural resource curse has been a longstanding theme in the economic literature and in policy discussions. We propose an alternative mechanism and study its policy implications. The mechanism is based on the interaction between two building blocks: specialization in non-tradables ...
25_econ_chapter_15
... “Easy” monetary policy: Expansionary: the Fed tries to increase money supply by expanding excess reserves in order to stimulate the economy. The Fed will use a combination of: • buying securities • reducing the reserve ratio (rare) • reducing the discount rate “Tight” monetary policy: Contractionar ...
... “Easy” monetary policy: Expansionary: the Fed tries to increase money supply by expanding excess reserves in order to stimulate the economy. The Fed will use a combination of: • buying securities • reducing the reserve ratio (rare) • reducing the discount rate “Tight” monetary policy: Contractionar ...
Financial Cycle, Financial Stability and Monetary Policy
... a bubble has emerged, it will probably be too late to act with interest rate hikes. • Pursuing a separate asset price objective could mean having to compromise on the inflation objective. A central bank’s focus on assets could lead to public confusion about its policy objectives (Giavazzi and Mishki ...
... a bubble has emerged, it will probably be too late to act with interest rate hikes. • Pursuing a separate asset price objective could mean having to compromise on the inflation objective. A central bank’s focus on assets could lead to public confusion about its policy objectives (Giavazzi and Mishki ...
A small New Keynesian model to analyze business cycle dynamics
... larger models with many structural shocks. Additionally, a simple model environment and stochastic structure facilitates estimation for short samples. As opposed to Ireland (2004) and An and Schorfheide (2007), we explicitly include the consumption habit in the households utility function. Additiona ...
... larger models with many structural shocks. Additionally, a simple model environment and stochastic structure facilitates estimation for short samples. As opposed to Ireland (2004) and An and Schorfheide (2007), we explicitly include the consumption habit in the households utility function. Additiona ...
The Effects of Exchange Rates Movements on Stock Market
... rate will have adverse effects on importers and favorable effects on exporters. Domestic exporters will have advantage against foreign exporters because there is increase their sales and their stock prices (Yau and Nieh, 2006). That is, currency appreciation has negative effects on domestic exporter ...
... rate will have adverse effects on importers and favorable effects on exporters. Domestic exporters will have advantage against foreign exporters because there is increase their sales and their stock prices (Yau and Nieh, 2006). That is, currency appreciation has negative effects on domestic exporter ...
Extension: GNI and living standards
... income. There are several reasons for this. Exchange rates may reflect the prices of goods that are traded between countries (which may be very different from the goods and services that the average citizen buys). Or exchange rates may reflect the interest rate policies of governments. In some cases ...
... income. There are several reasons for this. Exchange rates may reflect the prices of goods that are traded between countries (which may be very different from the goods and services that the average citizen buys). Or exchange rates may reflect the interest rate policies of governments. In some cases ...
14. Monetary, Fiscal, and Incomes Policy, and Inflation
... in which the borrower has incentives to invest in projects with high risk where the borrower does well if the project succeeds but the lender bears most of the loss if the project fails. The prospect of “bail out” of failed projects by, for example, the International Monetary Fund and the internatio ...
... in which the borrower has incentives to invest in projects with high risk where the borrower does well if the project succeeds but the lender bears most of the loss if the project fails. The prospect of “bail out” of failed projects by, for example, the International Monetary Fund and the internatio ...
Public Investment Criteria: Economic Internal Rate of Return and
... If the opportunity cost of capital is 10 per cent, then as is clear from Figure 1, the hydro project with higher initial capital expenditure constitutes the least-cost option. At 10 per cent its net worth is lower. If the opportunity cost of capital is 15 per cent, then the thermal project with lowe ...
... If the opportunity cost of capital is 10 per cent, then as is clear from Figure 1, the hydro project with higher initial capital expenditure constitutes the least-cost option. At 10 per cent its net worth is lower. If the opportunity cost of capital is 15 per cent, then the thermal project with lowe ...
should the southeast asian countries form a currency union?
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
The Monetary Transmission Mechanism: Some Answers and Further
... effect of changes in the relative quantities of assets, rather than interest rates.3 The logic here is that because various assets are imperfect substitutes in investors’ portfolios, changes in the composition of outstanding assets brought about by monetary policy will lead to relative price changes ...
... effect of changes in the relative quantities of assets, rather than interest rates.3 The logic here is that because various assets are imperfect substitutes in investors’ portfolios, changes in the composition of outstanding assets brought about by monetary policy will lead to relative price changes ...
should the southeast asian countries form a currency union?
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
... among the member countries. This is because a currency union eliminates exchange rate fluctuations among the countries involved and the transaction costs associated with them. This tends to promote increased trade and investment among the countries in the union. In fact, one of the main aims of the ...
Business Cycles
... search, don’t show up in unemployment statistics. – Other people may claim to be unemployed in order to receive financial assistance, even though they aren’t looking for workLength of Unemployment ...
... search, don’t show up in unemployment statistics. – Other people may claim to be unemployed in order to receive financial assistance, even though they aren’t looking for workLength of Unemployment ...
Expectations, Taylor Rules and Liquidity Traps
... gives rise to explosive solutions. It includes the rule in a continuous-time version of the basic New-Keynesian model with an adverse natural real interest rate shock that puts the model economy into a liquidity trap, and finds that the three equilibrium paths (Christiano et al. 2011; Werning 2012; ...
... gives rise to explosive solutions. It includes the rule in a continuous-time version of the basic New-Keynesian model with an adverse natural real interest rate shock that puts the model economy into a liquidity trap, and finds that the three equilibrium paths (Christiano et al. 2011; Werning 2012; ...
Optimal Monetary Policy in Open Economies
... such misallocation takes the form of price dispersion for goods which are symmetric in preferences and technology. In such a model, optimal monetary policy is characterized by a ‡exible in‡ation target, trading o¤ ‡uctuations in the GDP de‡ator and the output gap vis-à-vis ine¢ cient shocks — such ...
... such misallocation takes the form of price dispersion for goods which are symmetric in preferences and technology. In such a model, optimal monetary policy is characterized by a ‡exible in‡ation target, trading o¤ ‡uctuations in the GDP de‡ator and the output gap vis-à-vis ine¢ cient shocks — such ...
Chapter 17. Expectations, Output
... that it is backloaded, i.e., takes place further in the future, because the direct negative effects on output (through reduced government spending or increased taxes) would be postponed. On the other hand, a backloaded deficit reduction program may not be very credible. People may not believe that t ...
... that it is backloaded, i.e., takes place further in the future, because the direct negative effects on output (through reduced government spending or increased taxes) would be postponed. On the other hand, a backloaded deficit reduction program may not be very credible. People may not believe that t ...
Y - The University of Chicago Booth School of Business
... Key Insight: If the economy experiences unexpected deflation, the opposite happens-borrowers are paying more in terms of lost real purchasing power when there is unexpected deflation. Borrowers, both consumers and firms, will essentially be poorer. (Even though, there is another side of the market - ...
... Key Insight: If the economy experiences unexpected deflation, the opposite happens-borrowers are paying more in terms of lost real purchasing power when there is unexpected deflation. Borrowers, both consumers and firms, will essentially be poorer. (Even though, there is another side of the market - ...
Federal Reserve and Monetary Policy
... •Some observers think this is puzzling because they associate higher interest rates with lower output. Why should a recovery be associated with higher interest rates? •The simple model of the money market helps explain why interest rates can rise during an economic recovery. One key to understanding ...
... •Some observers think this is puzzling because they associate higher interest rates with lower output. Why should a recovery be associated with higher interest rates? •The simple model of the money market helps explain why interest rates can rise during an economic recovery. One key to understanding ...
Effects of Inflation
... Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflatio ...
... Lower than anticipated inflation raises the real wage rate and workers gain at the expense of employers. Higher than anticipated inflation lowers the real wage rate, increases the quantity of labor demanded, makes jobs easier to find, and lowers the unemployment rate. Lower than anticipated inflatio ...
Paper - System Dynamics Society
... American television personality Lou Dobbs (2004) asserted that offshoring hurt American workers and this was a social problem as well as an economic problem. His opinion was somewhat extreme, but it pointed out that there were some problems in offshoring from the viewpoint of the nation’s economy. 4 ...
... American television personality Lou Dobbs (2004) asserted that offshoring hurt American workers and this was a social problem as well as an economic problem. His opinion was somewhat extreme, but it pointed out that there were some problems in offshoring from the viewpoint of the nation’s economy. 4 ...
The Rate of Surplus Value, the Composition of Capital, and
... that the performance of capitalist economies depends above all else on the overall level of the rate of profit. But not support other arguments of Marx himself, such as the decline of rate of profit, and the rising organic composition of capital as a main cause of this decline. On the contrary, the ...
... that the performance of capitalist economies depends above all else on the overall level of the rate of profit. But not support other arguments of Marx himself, such as the decline of rate of profit, and the rising organic composition of capital as a main cause of this decline. On the contrary, the ...