Fall 2015 Calgary and Region Economic Outlook 2015-2020
... There will be short-term downward pressure on the loonie, due to the interest rate differential, when the U.S. Federal Reserve hikes short-term interest rates later this year. ...
... There will be short-term downward pressure on the loonie, due to the interest rate differential, when the U.S. Federal Reserve hikes short-term interest rates later this year. ...
PDF
... boom and led to the subsequent development of the Dutch Disease literature (Gregory 1976). The mineral paper, responding to the 1970s economic environment, was designed with two purposes in mind. One purpose was to increase understanding of the potential effects of two policy instruments that had not ...
... boom and led to the subsequent development of the Dutch Disease literature (Gregory 1976). The mineral paper, responding to the 1970s economic environment, was designed with two purposes in mind. One purpose was to increase understanding of the potential effects of two policy instruments that had not ...
Teaching note
... Keynes argues that if people demand a product, producers will supply it. Chapter 11 – Aggregate Supply and Aggregate Demand – Page 224 ...
... Keynes argues that if people demand a product, producers will supply it. Chapter 11 – Aggregate Supply and Aggregate Demand – Page 224 ...
The Effects of Monetary Policy in a Multi-Sector
... the short run.” (Blanchard, 2000) Nominal rigidities always played a key role in building a bridge between the real world and macroeconomic modelling. If all prices adjusted promptly to an increase in the money supply, then money should be neutral in the short- and long-run. However empirical eviden ...
... the short run.” (Blanchard, 2000) Nominal rigidities always played a key role in building a bridge between the real world and macroeconomic modelling. If all prices adjusted promptly to an increase in the money supply, then money should be neutral in the short- and long-run. However empirical eviden ...
sample only ECONOMIC FUNDAMENTALS IN
... microeconomic demand side factors that influence prices and quantity of goods and services in individual markets, including disposable income, the price of substitutes and complements, preferences and tastes, interest rates, population growth and demographic change, and consumer ...
... microeconomic demand side factors that influence prices and quantity of goods and services in individual markets, including disposable income, the price of substitutes and complements, preferences and tastes, interest rates, population growth and demographic change, and consumer ...
The pricing behaviour of firms in the euro area
... The large amount of theoretical research on the micro foundations of macroeconomic behaviour has made clear that a thorough understanding of the extent and causes of the sluggish adjustment of nominal prices is crucial to the design and conduct of monetary policy. In this respect, empirical work aim ...
... The large amount of theoretical research on the micro foundations of macroeconomic behaviour has made clear that a thorough understanding of the extent and causes of the sluggish adjustment of nominal prices is crucial to the design and conduct of monetary policy. In this respect, empirical work aim ...
apers g P orkin al Bank W
... volatility of the other. Needless to say, if these criteria are not satisfied simultaneously, any attempts by central banks to offset asset-price movements may simply raise macroeconomic volatility, potentially increasing the risk of financial instability developing. Third, the size of interest rate ...
... volatility of the other. Needless to say, if these criteria are not satisfied simultaneously, any attempts by central banks to offset asset-price movements may simply raise macroeconomic volatility, potentially increasing the risk of financial instability developing. Third, the size of interest rate ...
PDF
... With the exception of the nominal interest rate i, storage costs c, and convenience yield p, all variables are expressed in logarithms. The variables are defined as follows: p, = price of manufactured (customer) products, p, = price of agricultural (auction) products, m = nominal money supply, p = g ...
... With the exception of the nominal interest rate i, storage costs c, and convenience yield p, all variables are expressed in logarithms. The variables are defined as follows: p, = price of manufactured (customer) products, p, = price of agricultural (auction) products, m = nominal money supply, p = g ...
Derivation and Estimation of a Phillips Curve with Sticky Prices and
... regarding inflation dynamics. The standard NKPC model does not exhibit the inflation persistence and delayed and gradual effects of monetary shocks observed in the data. It is also unable to account for the correlation between inflation and the output gap. The NKPC model implies that inflation shoul ...
... regarding inflation dynamics. The standard NKPC model does not exhibit the inflation persistence and delayed and gradual effects of monetary shocks observed in the data. It is also unable to account for the correlation between inflation and the output gap. The NKPC model implies that inflation shoul ...
The Dynamic Effects of Commodity Prices on Fiscal
... government revenues increase immediately and automatically (without discretionary policy action), while discretionary expenditure may be increased possibly in a one-for-one response. In such a case, looking only at the overall fiscal balance could suggest that external shocks have no impact on fisca ...
... government revenues increase immediately and automatically (without discretionary policy action), while discretionary expenditure may be increased possibly in a one-for-one response. In such a case, looking only at the overall fiscal balance could suggest that external shocks have no impact on fisca ...
Nº 245
... methodologically# complicated.# The# International# Comparisons# Program# has# carried# out# this# exercise# only# 7# times# since# 1970.# For# years,# other# than# those# benchmark# periods,# PPPs# are# extrapolated#using#price#index#numbers#from#national#accounts#statistics.#Logically,#benchmarks# ...
... methodologically# complicated.# The# International# Comparisons# Program# has# carried# out# this# exercise# only# 7# times# since# 1970.# For# years,# other# than# those# benchmark# periods,# PPPs# are# extrapolated#using#price#index#numbers#from#national#accounts#statistics.#Logically,#benchmarks# ...
ME1
... since consumers will have a larger demand with a rise in disposable income, which increases with total national output. This increase is due to the positive relationship between consumption and consumers' disposable income in the consumption function. Aggregate demand may also rise due to increases ...
... since consumers will have a larger demand with a rise in disposable income, which increases with total national output. This increase is due to the positive relationship between consumption and consumers' disposable income in the consumption function. Aggregate demand may also rise due to increases ...
Advances in Natural and Applied Sciences
... world price of oil increased sharply. In the modern history of Indonesia’s development, the share of nonrenewable energy sources is extremely high, where oil is very dominant (51.7 percent), followed by natural gas (28.6 percent) and coal (15.3 percent). The share of renewable energy sources is less ...
... world price of oil increased sharply. In the modern history of Indonesia’s development, the share of nonrenewable energy sources is extremely high, where oil is very dominant (51.7 percent), followed by natural gas (28.6 percent) and coal (15.3 percent). The share of renewable energy sources is less ...
Chapter 3: BENEFITS AND COSTS, SUPPLY AND DEMAND
... Total benefits are measured by total willingness to pay. Total WTP is the area under a demand curve. To measure the total benefit of increasing quantity from q1 to q2, the area under D1 is area a plus area b; under D2, it is area b. Those who value the good are willing to pay more for it and receive ...
... Total benefits are measured by total willingness to pay. Total WTP is the area under a demand curve. To measure the total benefit of increasing quantity from q1 to q2, the area under D1 is area a plus area b; under D2, it is area b. Those who value the good are willing to pay more for it and receive ...
Inflation Report 4/2000
... After rising sharply in the first half of the year, private consumption has shown clear signs of slower growth, with a seasonally adjusted decline between the second and third quarter. So far this year, total private consumption has been 2.9% higher than in the same period last year. Short-term stat ...
... After rising sharply in the first half of the year, private consumption has shown clear signs of slower growth, with a seasonally adjusted decline between the second and third quarter. So far this year, total private consumption has been 2.9% higher than in the same period last year. Short-term stat ...
Review Questions Aggregate Demand and Aggregate Supply
... The misperceptions theory of the short-run aggregate supply curve says that output supplied will increase if the price level a. increases less than expected so that firms believe the relative price of their output has increased. b. increases less than expected so that firms believe the relative pric ...
... The misperceptions theory of the short-run aggregate supply curve says that output supplied will increase if the price level a. increases less than expected so that firms believe the relative price of their output has increased. b. increases less than expected so that firms believe the relative pric ...
Housing markets and the economy: the assessment
... China, and India are quite different from Anglo economies in the role of housing. Section V discusses these issues and summarizes recent evidence on the size of the housing collateral effect and how it may have shifted with credit-market liberalization. The significance of credit markets and the pot ...
... China, and India are quite different from Anglo economies in the role of housing. Section V discusses these issues and summarizes recent evidence on the size of the housing collateral effect and how it may have shifted with credit-market liberalization. The significance of credit markets and the pot ...
Macroeconomics - Econproph on Macro
... and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else.” ...
... and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else.” ...
Oil and US GDP: A Real-Time Out-of-Sample Examination Francesco Ravazzolo Philip Rothman
... subsamples. Further, the general failure of the macroeconomic variables considered to Grangercause oil prices, along with historical and institutional details of the post-World War II oil market studied in Hamilton (1985), leads him to conclude that the crude oil price changes observed in this era w ...
... subsamples. Further, the general failure of the macroeconomic variables considered to Grangercause oil prices, along with historical and institutional details of the post-World War II oil market studied in Hamilton (1985), leads him to conclude that the crude oil price changes observed in this era w ...
Aggregate Demand and Aggregate Supply
... intersection of aggregate demand and the long run aggregate supply curve where P = P and Y = Y. Since in the long run all prices have adjusted, short run equilibrium occurs at the same P-Y combination. ...
... intersection of aggregate demand and the long run aggregate supply curve where P = P and Y = Y. Since in the long run all prices have adjusted, short run equilibrium occurs at the same P-Y combination. ...
Does Regulation Drive out Competition in Pharmaceutical Markets?
... Canada), whereas for the countries with strict price or reimbursement regulation (France, Italy, and Japan), generic competition is ineffective and may be counterproductive. One plausible explanation is that in regulatory regimes that drive down the originator price over the life cycle, generic equi ...
... Canada), whereas for the countries with strict price or reimbursement regulation (France, Italy, and Japan), generic competition is ineffective and may be counterproductive. One plausible explanation is that in regulatory regimes that drive down the originator price over the life cycle, generic equi ...
Monerary Policy Response to Oil Price Shocks
... policy trade-o , they are not su!cient to explain the policymakers’ concern for the real consequences of oil price shocks. Hence, this paper stresses that perfectly stabilizing in ation becomes particularly costly when the impact of higher oil prices on households’ consumption is also taken into acc ...
... policy trade-o , they are not su!cient to explain the policymakers’ concern for the real consequences of oil price shocks. Hence, this paper stresses that perfectly stabilizing in ation becomes particularly costly when the impact of higher oil prices on households’ consumption is also taken into acc ...
Working Paper 76
... conducted by nine Eurosystem national central banks. Overall, more than 11,000 firms participated in the survey. The results are very robust across countries. Firms operate in monopolistically competitive markets, where prices are mostly set following mark-up rules and where price discrimination is ...
... conducted by nine Eurosystem national central banks. Overall, more than 11,000 firms participated in the survey. The results are very robust across countries. Firms operate in monopolistically competitive markets, where prices are mostly set following mark-up rules and where price discrimination is ...
The Long-Run Aggregate Supply Curve Page 1 of 3
... So in the long run there’s no relationship between the aggregate price level and the level of output. The long-run aggregate supply curve is a vertical line. So if we want to draw that vertical line in our diagram, the next question we have is, Where does it go? Where should we put the long-run aggr ...
... So in the long run there’s no relationship between the aggregate price level and the level of output. The long-run aggregate supply curve is a vertical line. So if we want to draw that vertical line in our diagram, the next question we have is, Where does it go? Where should we put the long-run aggr ...
Chapter 17 - Aggregate Demand and Aggregate Supply
... In short-run, a rise (fall) in real GDP, by causing unit costs to increase (decrease), will also cause a rise (decrease) in price level ...
... In short-run, a rise (fall) in real GDP, by causing unit costs to increase (decrease), will also cause a rise (decrease) in price level ...
2000s commodities boom
The 2000s commodities boom or the commodities super cycle was the rise in many physical commodity prices (such as those of food stuffs, oil, metals, chemicals, fuels and the like) which occurred during the decade of the 2000s (2000–2009), following the Great Commodities Depression of the 1980s and 1990s. The boom was largely due to the rising demand from emerging markets such as the BRIC countries, as well as the result of concerns over long-term supply availability. There was a sharp down-turn in prices during 2008 and early 2009 as a result of the credit crunch and sovereign debt crisis, but prices began to rise as demand recovered from late 2009 to mid-2010. Oil began to slip downwards after mid-2010, but peaked at $101.80 on 30 and 31 January 2011, as then Egyptian political crisis and rioting broke out, leading to concerns over both the safe use of the Suez Canal and over all security in Arabia itself. On 3 March, Libya's National Oil Corp said that output had halved due to the departure of foreign workers. As this happened, Brent Crude surged to a new high of above $116.00 a barrel as supply disruptions and potential for more unrest in the Middle East and North Africa continued to worry investors. Thus the price of oil kept rising into the 2010s. The commodities super-cycle peaked in 2011, ""driven by a combination of strong demand from emerging nations and low supply growth."" Prior to 2002, only 5 to 10 per cent of trading in the commodities market was attributable to investors. Since 2002 ""30 per cent of trading is attributable to investors in the commodities market"" which ""has caused higher price volatility.""