This PDF is a selection from a published volume from... of Economic Research Volume Title: NBER Macroeconomics Annual 2012, Volume 27
... the results. The recent literature on the effects of fiscal policy at the zero lower bound for nominal interest rates is an example of the limitations of aggregate, VAR-based estimates. The minus is their inability to capture an important effect of shifts in government spending: the response of priv ...
... the results. The recent literature on the effects of fiscal policy at the zero lower bound for nominal interest rates is an example of the limitations of aggregate, VAR-based estimates. The minus is their inability to capture an important effect of shifts in government spending: the response of priv ...
Session 9 GDP and Growth - Federal Reserve Bank of Dallas
... Gross National Product • GNP – total market value of all final goods and services produced in a year from factors of production (resources) owned by country’s ...
... Gross National Product • GNP – total market value of all final goods and services produced in a year from factors of production (resources) owned by country’s ...
outlook of the budget and economy
... Discretionary outlays declined from about 10 percent of GDP during much of the 1970s and 1980s to 6.2 percent in 1999. Those outlays then began to increase again relative to the size of the economy, reaching 7.0 percent of GDP in 2002 and 7.9 percent in 2008. In 2009, 2010, and 2011, such outlays we ...
... Discretionary outlays declined from about 10 percent of GDP during much of the 1970s and 1980s to 6.2 percent in 1999. Those outlays then began to increase again relative to the size of the economy, reaching 7.0 percent of GDP in 2002 and 7.9 percent in 2008. In 2009, 2010, and 2011, such outlays we ...
PDF of this report - Center on Budget and Policy Priorities
... In addition, interest payments on government debt are expected to rise in coming years, apart from the impact of any further deficits, as today’s exceptionally low interest rates return to more typical levels. It is worth noting that historical levels of revenues were insufficient to match expenditu ...
... In addition, interest payments on government debt are expected to rise in coming years, apart from the impact of any further deficits, as today’s exceptionally low interest rates return to more typical levels. It is worth noting that historical levels of revenues were insufficient to match expenditu ...
Gross Domestic Product, or GDP for short, measures the value of a
... labor and capital in the economy: Increased labor force participation increases output. Expanded, improved education creates more productive workers. Business and government spending on research and development enhance our abilities to produce and allow each worker to become more productive, increas ...
... labor and capital in the economy: Increased labor force participation increases output. Expanded, improved education creates more productive workers. Business and government spending on research and development enhance our abilities to produce and allow each worker to become more productive, increas ...
Sample
... An alternative measure of the price level is the Consumer Price Index (CPI)—another index number. In the United States, this measure is based on price surveys across U.S. cities. The prices of various goods are weighted according to average consumer expenditure shares in the United States. The const ...
... An alternative measure of the price level is the Consumer Price Index (CPI)—another index number. In the United States, this measure is based on price surveys across U.S. cities. The prices of various goods are weighted according to average consumer expenditure shares in the United States. The const ...
E-Growth Exercise #5
... You will arrive at a table entitled, “Economic Variables”. If you were the ruler of this nation, and you wanted to increase per capita income with absolutely no concern as to anything else, would you want to spend very little or a lot on investment spending and public goods spending? . Enter the fol ...
... You will arrive at a table entitled, “Economic Variables”. If you were the ruler of this nation, and you wanted to increase per capita income with absolutely no concern as to anything else, would you want to spend very little or a lot on investment spending and public goods spending? . Enter the fol ...
I. GETTING STARTED E-Views Actions in Homework #1:
... The GDP increases over time partly because the economy produces more goods and services and partly because prices tend to increase over time. The effect of increasing prices can be eliminated by dividing GDP by the price index GDP_PRICE to produce what economists call “Real GDP.” Let’s calculate thi ...
... The GDP increases over time partly because the economy produces more goods and services and partly because prices tend to increase over time. The effect of increasing prices can be eliminated by dividing GDP by the price index GDP_PRICE to produce what economists call “Real GDP.” Let’s calculate thi ...
Chapter 26 Appendix: Policy Disputes Using the Self
... Following these steps, you have learned that the classical or noninterventionist school of thought believes that the short-run aggregate supply curve (SRAS) will self correct to long-run full-employment real GDP on the vertical long-run aggregate supply curve (LRAS). The Keynesian or interventionist ...
... Following these steps, you have learned that the classical or noninterventionist school of thought believes that the short-run aggregate supply curve (SRAS) will self correct to long-run full-employment real GDP on the vertical long-run aggregate supply curve (LRAS). The Keynesian or interventionist ...
SOLUTIONS - Department of Economics
... We must keep in mind that, given the interest sensitivity of investment (and consumption), the greater the drop in the rate of interest the greater the expansionary impact on the economy. Therefore, given the interest sensitivity of investment (and consumption), the effectiveness of expansionary mon ...
... We must keep in mind that, given the interest sensitivity of investment (and consumption), the greater the drop in the rate of interest the greater the expansionary impact on the economy. Therefore, given the interest sensitivity of investment (and consumption), the effectiveness of expansionary mon ...
chapter 8
... $5000 lower on net if it did not. When faced with the one-time cost of $8,000, however, it will not necessarily wish to change its price, especially if the decline in demand is not expected to be permanent. b. In this case, the not changing price would reduce the firm’s profit by $5,000 every year i ...
... $5000 lower on net if it did not. When faced with the one-time cost of $8,000, however, it will not necessarily wish to change its price, especially if the decline in demand is not expected to be permanent. b. In this case, the not changing price would reduce the firm’s profit by $5,000 every year i ...
The Crisis in the Russian Economy
... subsidies to the pension fund and local governments. Russia's fairy tale budgets have been allowing politicians to avoid responsibility so far for the nonpayments crisis in the country because, in Russia, parallel to the official state budget there exists the so-called quasi-budget sector that inclu ...
... subsidies to the pension fund and local governments. Russia's fairy tale budgets have been allowing politicians to avoid responsibility so far for the nonpayments crisis in the country because, in Russia, parallel to the official state budget there exists the so-called quasi-budget sector that inclu ...
Assessing the Macro Economic Impact of Fiscal Stimulus 2008
... per gallon increase in gasoline prices costs consumers more than $1 billion annually, Americans’ driving bills are set to increase by $100 billion. That acts very much like a tax increase; if households must spend more to drive, they have less to spend on everything else. The impact is even more per ...
... per gallon increase in gasoline prices costs consumers more than $1 billion annually, Americans’ driving bills are set to increase by $100 billion. That acts very much like a tax increase; if households must spend more to drive, they have less to spend on everything else. The impact is even more per ...
כלכלת ישראל - משרד האוצר
... The growth rate is expressed as the rate of quarter-on-quarter change in annual terms. In 1999–2000, Israel had a very vigorous growth rate relative to the economy’s past performance and by international standards. Since October 2000, the growth rate has been declining due to the global economic slo ...
... The growth rate is expressed as the rate of quarter-on-quarter change in annual terms. In 1999–2000, Israel had a very vigorous growth rate relative to the economy’s past performance and by international standards. Since October 2000, the growth rate has been declining due to the global economic slo ...
Will China Ever Become as Rich as the US
... insight into how, with maturity, these nations may approach the technological leadership and, by extension, the standard of living of the U.S. Gross domestic product (GDP), a measure of everything produced within a country’s borders, is the most widely available means of calculating just how rich a ...
... insight into how, with maturity, these nations may approach the technological leadership and, by extension, the standard of living of the U.S. Gross domestic product (GDP), a measure of everything produced within a country’s borders, is the most widely available means of calculating just how rich a ...
Fiscal Policy - Macmillan Learning
... business have more to spend. • A tax increase (or decrease) will have less of a direct impact on income, employment, and output than an equivalent change in government spending. ...
... business have more to spend. • A tax increase (or decrease) will have less of a direct impact on income, employment, and output than an equivalent change in government spending. ...
POST-CRISIS FISCAL DILEMMAS IN ROMANIA IFRIM MIHAELA
... specialized literature to be among the categories of taxes which have the lowest influence on the economic growth on the long term”. The same conclusion is also reached in the PriceWaterHouseCoopers study from 2009, which concludes that the reduction of the VAT “has had very little impact on consume ...
... specialized literature to be among the categories of taxes which have the lowest influence on the economic growth on the long term”. The same conclusion is also reached in the PriceWaterHouseCoopers study from 2009, which concludes that the reduction of the VAT “has had very little impact on consume ...
What is Economic Growth?
... Growth as increased Social Welfare • Net social welfare takes into account factors other than material wealth. • Net social welfare = Economic welfare + non-economic welfare • Indicators of non-economic welfare include: ...
... Growth as increased Social Welfare • Net social welfare takes into account factors other than material wealth. • Net social welfare = Economic welfare + non-economic welfare • Indicators of non-economic welfare include: ...
lesson 8
... 1. True, false or uncertain, and explain why? “Regardless of our current economic situation, an increase in aggregate demand will always create new jobs.” False. At a level higher than fullemployment output, workers will push for higher wages, which will shift the SRAS curve leftward; output and emp ...
... 1. True, false or uncertain, and explain why? “Regardless of our current economic situation, an increase in aggregate demand will always create new jobs.” False. At a level higher than fullemployment output, workers will push for higher wages, which will shift the SRAS curve leftward; output and emp ...
Abenomics
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Abenomics (アベノミクス, Abenomikusu) refers to the economic policies advocated by Shinzō Abe since the December 2012 general election, which elected Abe to his second term as prime minister of Japan. Abenomics is based upon ""three arrows"" of fiscal stimulus, monetary easing and structural reforms. The Economist characterized the program as a ""mix of reflation, government spending and a growth strategy designed to jolt the economy out of suspended animation that has gripped it for more than two decades.""The term ""Abenomics"" is a portmanteau of Abe and economics, and follows previous political neologisms for economic policies linked to specific leaders, such as Reaganomics, Clintonomics and Rogernomics.