Keynes-Wicksell and Neoclassical Models of Money and
... analogous to creation of a new unit of account and the price level might simply double. It is, however, a basic assumption of neoclassical models that injections of money are not distributed on the basis of existing holdings of money (since otherwise the transfer payments by which the money supply i ...
... analogous to creation of a new unit of account and the price level might simply double. It is, however, a basic assumption of neoclassical models that injections of money are not distributed on the basis of existing holdings of money (since otherwise the transfer payments by which the money supply i ...
Economics for Investment Decision Makers Workbook
... Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital mar ...
... Goods markets are the interactions of consumers as buyers and firms as sellers of goods and services produced by firms and bought by households. Factor markets are the interactions of firms as buyers and households as sellers of land, labor, capital, and entrepreneurial risk-taking ability. Capital mar ...
Additional Help
... Monetary regimes are predetermined rules of what the Bank of Canada will do in certain situations; they take feedback effects into account; a regime presets monetary policy. B Response: See the discussion in the textbook. B Response: Contractionary monetary policy would reduce economic activity and ...
... Monetary regimes are predetermined rules of what the Bank of Canada will do in certain situations; they take feedback effects into account; a regime presets monetary policy. B Response: See the discussion in the textbook. B Response: Contractionary monetary policy would reduce economic activity and ...
Econ 1101 Practice Questions Final Exam
... ESSAY. Write your answer in the space provided or on a separate sheet of paper. 8) What is meant by the term ʺmarginal analysisʺ? Suppose an individual has to choose between renting four apartments at different distances from his place of work. The individual has to commute to work on five days of ...
... ESSAY. Write your answer in the space provided or on a separate sheet of paper. 8) What is meant by the term ʺmarginal analysisʺ? Suppose an individual has to choose between renting four apartments at different distances from his place of work. The individual has to commute to work on five days of ...
Latin America and the Caribbean: Are Chills Here to Stay?
... including in North America. For example, disappointing export performance due to weaker investment in the United States has affected Canada’s economic performance in 2016. Sluggish domestic business investment and the devastating Alberta wildfires have also weighed on Canada’s growth. While economic ...
... including in North America. For example, disappointing export performance due to weaker investment in the United States has affected Canada’s economic performance in 2016. Sluggish domestic business investment and the devastating Alberta wildfires have also weighed on Canada’s growth. While economic ...
Reserve Accumulation, Growth and Financial Crises
... The large accumulation of foreign reserves is not just interesting in itself, but it also represents a key element for understanding the direction and allocation of international capital flows among developing economies. As noticed by Gourinchas and Jeanne (2011), while the neoclassical growth model ...
... The large accumulation of foreign reserves is not just interesting in itself, but it also represents a key element for understanding the direction and allocation of international capital flows among developing economies. As noticed by Gourinchas and Jeanne (2011), while the neoclassical growth model ...
The currency of an independent Scotland
... should be part of a currency area and where the borders of a currency area should be drawn. OCA literature holds that the essential ingredient of a common currency or a single currency area is an area where factors of production are mobile internally (both geographically and interindustry) but immob ...
... should be part of a currency area and where the borders of a currency area should be drawn. OCA literature holds that the essential ingredient of a common currency or a single currency area is an area where factors of production are mobile internally (both geographically and interindustry) but immob ...
The Monetary Approach to the Balance of Payments
... Finance Chapter 2), much of the economics literature that appeared before the monetary approach was developed explained balance of payments movements as the result of current or financial account changes. An important contribution of the monetary approach was to stress that in many situations, balan ...
... Finance Chapter 2), much of the economics literature that appeared before the monetary approach was developed explained balance of payments movements as the result of current or financial account changes. An important contribution of the monetary approach was to stress that in many situations, balan ...
A two-period closed economy with sticky prices
... where the interest rate is exogenously given. Analytically, the approach is similar to that of a small open economy, the difference being that the exogenous interest rate is determined in the (omitted) money market, rather than in the international economy. Since the economy is closed to financial t ...
... where the interest rate is exogenously given. Analytically, the approach is similar to that of a small open economy, the difference being that the exogenous interest rate is determined in the (omitted) money market, rather than in the international economy. Since the economy is closed to financial t ...
Présentation PowerPoint - McGraw Hill Higher Education
... the response of investment to these interest rate changes. ...
... the response of investment to these interest rate changes. ...
Currency Boards vs. Dollarization: Lessons from the Cook Islands
... and financing government spending—while not always requiring 100 percent foreign reserve coverage (see, for example, Hanke 2002, Schuler 2005). Deviations from orthodoxy do not necessarily imply economic disruption. For example, the Republic of Ireland continued to enjoy almost identical price trend ...
... and financing government spending—while not always requiring 100 percent foreign reserve coverage (see, for example, Hanke 2002, Schuler 2005). Deviations from orthodoxy do not necessarily imply economic disruption. For example, the Republic of Ireland continued to enjoy almost identical price trend ...
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... that countries whose real exchange rates are subject to greater real disturbances are more likely to float their currencies (incidentally, this possibility was also acknowledged by Mussa). This is the so-called “real economy view”. Stockman (1988) further develops his equilibrium model of exchange ...
... that countries whose real exchange rates are subject to greater real disturbances are more likely to float their currencies (incidentally, this possibility was also acknowledged by Mussa). This is the so-called “real economy view”. Stockman (1988) further develops his equilibrium model of exchange ...
Returning to growth: lessons from the 1930s
... little scope for further reductions in nominal interest rates, it seems difficult to use monetary policy to stimulate growth and to offset fiscal stringency. And while growth has been weak, inflation has been well above the target set for the Bank of England because of the transitory impact of VAT i ...
... little scope for further reductions in nominal interest rates, it seems difficult to use monetary policy to stimulate growth and to offset fiscal stringency. And while growth has been weak, inflation has been well above the target set for the Bank of England because of the transitory impact of VAT i ...
Finland and Sweden in Cross-Country Comparison: What are the
... have not affected macroeconomic performance very much (at least not so far). 3. Macroeconomic policies This section will compare the macroeconomic or fiscal and monetary policies pursued in Finland and Sweden with each other as well as with the policies pursued in other EU15-countries. Obviously, Fi ...
... have not affected macroeconomic performance very much (at least not so far). 3. Macroeconomic policies This section will compare the macroeconomic or fiscal and monetary policies pursued in Finland and Sweden with each other as well as with the policies pursued in other EU15-countries. Obviously, Fi ...
Chapter 18 PPT
... to redeem their dollar assets before the gold ran out. This problem is similar to what any central bank may face when it tries to maintain a fixed exchange rate. If markets perceive that the central bank does not have enough official international reserve assets to maintain a fixed rate, a balan ...
... to redeem their dollar assets before the gold ran out. This problem is similar to what any central bank may face when it tries to maintain a fixed exchange rate. If markets perceive that the central bank does not have enough official international reserve assets to maintain a fixed rate, a balan ...
Econ 130
... The Price Stability Goal – Low and stable in‡ation – In‡ation Creates uncertainty and di¢ culty in planning for future Lowers economic growth Strains social fabric: Con‡ict might result, because each group in the society may compete with other groups to make sure that its income keeps up with the ri ...
... The Price Stability Goal – Low and stable in‡ation – In‡ation Creates uncertainty and di¢ culty in planning for future Lowers economic growth Strains social fabric: Con‡ict might result, because each group in the society may compete with other groups to make sure that its income keeps up with the ri ...
Delivering growth while reducing deficits
... recession, growth is still anaemic, yet the government has serious concerns about fiscal sustainability at a time of large deficits and rapidly rising public debt to GDP ratios. With little scope for further reductions in nominal interest rates, it seems difficult to use monetary policy to stimulate ...
... recession, growth is still anaemic, yet the government has serious concerns about fiscal sustainability at a time of large deficits and rapidly rising public debt to GDP ratios. With little scope for further reductions in nominal interest rates, it seems difficult to use monetary policy to stimulate ...
J
... rates. Just one step along the spectrum beyond these instruments are ’operating targets,’ measures that can be controlled with a rather high degree of precision through manipulation of the policy instruments." Examples of "potential operating targets include measures such as nonborrowed reserves, th ...
... rates. Just one step along the spectrum beyond these instruments are ’operating targets,’ measures that can be controlled with a rather high degree of precision through manipulation of the policy instruments." Examples of "potential operating targets include measures such as nonborrowed reserves, th ...
The Heisei Recession: An Overview Koichi Hamada, Yale University
... interest policy for about half a year beginning in August 2000. The Bank was often criticized as gyakufunsha (retro-firing of a jet). Nontheless, in 2001 it initiated the policy of quantitative easing, the effect of which is still to be determined. Quantitative easing refers to monetary policy that ...
... interest policy for about half a year beginning in August 2000. The Bank was often criticized as gyakufunsha (retro-firing of a jet). Nontheless, in 2001 it initiated the policy of quantitative easing, the effect of which is still to be determined. Quantitative easing refers to monetary policy that ...
PDF version
... conditions, especially in commodity exporting countries. These global developments impacted the domestic economy via the trade sector and continued to shape the country’s external sector performance. In the first quarter of 2016, the trade deficit widened on account of lower export receipts, especia ...
... conditions, especially in commodity exporting countries. These global developments impacted the domestic economy via the trade sector and continued to shape the country’s external sector performance. In the first quarter of 2016, the trade deficit widened on account of lower export receipts, especia ...
The “Natural” Interest Rate and Secular Stagnation: Loanable Funds
... central banks to raise their inflation targets to reduce the “real” interest rate (nominal rate minus inflation). More straightforward interventions such as restoring labor’s bargaining power so that rising wages can push up prices from the side of costs, expansionary fiscal policy, or redistributin ...
... central banks to raise their inflation targets to reduce the “real” interest rate (nominal rate minus inflation). More straightforward interventions such as restoring labor’s bargaining power so that rising wages can push up prices from the side of costs, expansionary fiscal policy, or redistributin ...
46 This chapter identifies the main international and domestic factors affecting... manufacturing production from 1980 to 1987. Part One briefly... CHAPTER TWO
... and shoes.11 To some extent, these industries replaced the small cottage industries which had traditionally produced these goods. The substitution of formerly imported luxury goods occurred only on a minor scale as the wealthy purchased these items directly from the United States.12 In the 1970s, Ni ...
... and shoes.11 To some extent, these industries replaced the small cottage industries which had traditionally produced these goods. The substitution of formerly imported luxury goods occurred only on a minor scale as the wealthy purchased these items directly from the United States.12 In the 1970s, Ni ...
Measures of Economic Performance
... 2. Wealth costs – inflation affects those on fixed incomes and redirects wealth to those in strong bargaining positions or with physical assets 3. Planning costs – businesses uncertain about future price changes may be reluctant to invest – hits economic growth 4. Fall in Competitiveness – inflation ...
... 2. Wealth costs – inflation affects those on fixed incomes and redirects wealth to those in strong bargaining positions or with physical assets 3. Planning costs – businesses uncertain about future price changes may be reluctant to invest – hits economic growth 4. Fall in Competitiveness – inflation ...
Indian Economy: Selected Methodological Advances
... The Indian economy after a two-year slowdown in the wake of global crisis, recorded a robust growth of nearly 9 per cent in the first half of 2010-11. This is equal to the average growth rate during the pre-crisis period, 2003-08. The critical question at this juncture is whether the Indian economy ...
... The Indian economy after a two-year slowdown in the wake of global crisis, recorded a robust growth of nearly 9 per cent in the first half of 2010-11. This is equal to the average growth rate during the pre-crisis period, 2003-08. The critical question at this juncture is whether the Indian economy ...
NBER WORKING PAPER SERIES LOST DECADE IN TRANSLATION:
... 2. Macroeconomic similarities: too close for US comfort? In this section, we look closely at how the US and Japanese economies behaved as boom turned to bust. Our method is to examine comparable time series from the two countries, in each case converting calendar time to business cycle time: for th ...
... 2. Macroeconomic similarities: too close for US comfort? In this section, we look closely at how the US and Japanese economies behaved as boom turned to bust. Our method is to examine comparable time series from the two countries, in each case converting calendar time to business cycle time: for th ...