This PDF is a selec on from a published volume... Bureau of Economic Research
... increases, but only because of an increase in military employment. Now both private employment and the short-term interest rate fall significantly, while their response was insignificant in the EVAR case. The Barro-Redlick tax rate also falls after several quarters. Column (4) displays the responses ...
... increases, but only because of an increase in military employment. Now both private employment and the short-term interest rate fall significantly, while their response was insignificant in the EVAR case. The Barro-Redlick tax rate also falls after several quarters. Column (4) displays the responses ...
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... induced change in old-age transfers affects the savings rate of young households and their labor supply. Finally, in spite of old households’ disutility from working, ageing leads to an increase in the retirement age and aggregate labor supply, reducing the upward pressure on social security transfe ...
... induced change in old-age transfers affects the savings rate of young households and their labor supply. Finally, in spite of old households’ disutility from working, ageing leads to an increase in the retirement age and aggregate labor supply, reducing the upward pressure on social security transfe ...
Housing and the Great Recession: A VAR Accounting Exercise
... The most notable aspect of Figure 7 is that, from the standpoint of late 2005, the level of output in mid-2009—the trough—can be explained almost entirely by a sequence of shocks to residential investment. Paraphrasing Section 1, we asked to what extent the unusual decline in output could be underst ...
... The most notable aspect of Figure 7 is that, from the standpoint of late 2005, the level of output in mid-2009—the trough—can be explained almost entirely by a sequence of shocks to residential investment. Paraphrasing Section 1, we asked to what extent the unusual decline in output could be underst ...
Slide 1
... • Quarterly data are not available until almost a month after the quarter is over. • The government often makes significant changes in the GDP estimates between the initial and final estimates. • Updates can even occur years after the first estimates are released. • It is normal for real GDP to fluc ...
... • Quarterly data are not available until almost a month after the quarter is over. • The government often makes significant changes in the GDP estimates between the initial and final estimates. • Updates can even occur years after the first estimates are released. • It is normal for real GDP to fluc ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research Volume Title: Policies to Combat Depression
... August and then began their decline. Industrial commodities hesitated slightly in the first quarter of 1948, then advanced steadily under the impetus of metals and metal products to a new postwar high in November 1948. Consumers' prices under the influence of foods declined in the first quarter, ros ...
... August and then began their decline. Industrial commodities hesitated slightly in the first quarter of 1948, then advanced steadily under the impetus of metals and metal products to a new postwar high in November 1948. Consumers' prices under the influence of foods declined in the first quarter, ros ...
fiscal multipliers in recession and expansion
... economy is in recession. In a recent paper (Auerbach and Gorodnichenko, 2011), we extended the standard Structural Vector Autoregression (SVAR) methodology in three ways to shed light on this issue. First, using regime-switching models, we estimated effects of fiscal policies that can vary over the ...
... economy is in recession. In a recent paper (Auerbach and Gorodnichenko, 2011), we extended the standard Structural Vector Autoregression (SVAR) methodology in three ways to shed light on this issue. First, using regime-switching models, we estimated effects of fiscal policies that can vary over the ...
NBER WORKING PAPER SERIES CALLING RECESSIONS IN REAL TIME James D. Hamilton
... First, the population has increased over time, and more people can ...
... First, the population has increased over time, and more people can ...
Correlates of Mobilization in the Two World Wars
... the disadvantages of lower incomes and inferior market institutions. The size of the public debt might work either way: a large public debt implies a deep capital market and a degree of trust between government and bond holders, but a larger debt may be more difficult to add to. Data sources and con ...
... the disadvantages of lower incomes and inferior market institutions. The size of the public debt might work either way: a large public debt implies a deep capital market and a degree of trust between government and bond holders, but a larger debt may be more difficult to add to. Data sources and con ...
The Recent Recession, the Current Recovery, and Stock Prices
... of real GDP if that term is negative. The shaded areas are the NBER contractions (recessions). This measure is an accurate predictor of NBER recessions in that it calls every NBER recession and has no false positives. The latest recession barely sneaks in the door, however. The negative growth for 2 ...
... of real GDP if that term is negative. The shaded areas are the NBER contractions (recessions). This measure is an accurate predictor of NBER recessions in that it calls every NBER recession and has no false positives. The latest recession barely sneaks in the door, however. The negative growth for 2 ...
Restoring Competitiveness to Ireland`s Tourism Industry THE ROLE
... ten jobs in the country and 4% of Ireland’s GNP. The loss of competitiveness experienced by the industry during the bubble years rendered the tourism sector vulnerable to the domestic and external shocks that hit the Irish economy towards the end of the las ...
... ten jobs in the country and 4% of Ireland’s GNP. The loss of competitiveness experienced by the industry during the bubble years rendered the tourism sector vulnerable to the domestic and external shocks that hit the Irish economy towards the end of the las ...
1 Shadow Economy and the Related Issues of Tax Evasion: ... Analysis among Canadian Workers
... business activities may take place in the shadow economy. The most important determinants are the prevalence of burdensome and costly government regulations and the level of administrative complexity of taxation (Belev, 2003). In a similar manner, De Soto (1989) in Dreher and Schneider (2006) and Ka ...
... business activities may take place in the shadow economy. The most important determinants are the prevalence of burdensome and costly government regulations and the level of administrative complexity of taxation (Belev, 2003). In a similar manner, De Soto (1989) in Dreher and Schneider (2006) and Ka ...
Government Spending Effects in a Small Open Economy
... On the empirical evidence, some researchers found that government spending shock increases private consumption. Monacelli and Perotti (2006) investigated four OECD countries(U.S., U.K., Canada and Australia) using structural VAR. In all four countries they found that a rise in government spending te ...
... On the empirical evidence, some researchers found that government spending shock increases private consumption. Monacelli and Perotti (2006) investigated four OECD countries(U.S., U.K., Canada and Australia) using structural VAR. In all four countries they found that a rise in government spending te ...
Growth and Investment
... ward and backward linkagges. For a staable law andd ordeer situation thhe governmeent has recen ...
... ward and backward linkagges. For a staable law andd ordeer situation thhe governmeent has recen ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... criticized for the absence of economics. Hence, their proper implementation should be based on theoretical reasoning. Our paper positions itself in the second category. This is because the re2. Some literature focuses on price variables (such as interest, GDP deflator, and exchange rates) rather tha ...
... criticized for the absence of economics. Hence, their proper implementation should be based on theoretical reasoning. Our paper positions itself in the second category. This is because the re2. Some literature focuses on price variables (such as interest, GDP deflator, and exchange rates) rather tha ...
Working Paper No. 385 Macroeconomic Policies of the Economic
... responsibility between them. The ECB has the responsibility for setting interest rates in pursuit of the inflation objective and the national central banks responsibility for regulatory matters. Central banks are viewed as having no discernible effects on the level or growth rate of output in the lo ...
... responsibility between them. The ECB has the responsibility for setting interest rates in pursuit of the inflation objective and the national central banks responsibility for regulatory matters. Central banks are viewed as having no discernible effects on the level or growth rate of output in the lo ...
Christina D. Romer NATIONAL
... because some actions may have more or less effect on the economy than their impact on the high-employment surplus would suggest. Therefore, in the analysis of fiscal policy in the next two sections, we discuss temporary tax ...
... because some actions may have more or less effect on the economy than their impact on the high-employment surplus would suggest. Therefore, in the analysis of fiscal policy in the next two sections, we discuss temporary tax ...
Practice Questions-Ch27
... A) Induced expenditure increases, real GDP increases, autonomous expenditure increases, real GDP increases more, autonomous expenditure increases again, etc. B) Induced expenditure increases, autonomous expenditure increases, real GDP increases, and consumption increases. C) Autonomous expenditure i ...
... A) Induced expenditure increases, real GDP increases, autonomous expenditure increases, real GDP increases more, autonomous expenditure increases again, etc. B) Induced expenditure increases, autonomous expenditure increases, real GDP increases, and consumption increases. C) Autonomous expenditure i ...
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.