This PDF is a selection from an out-of-print volume from... of Economic Research
... the 1980s helped stabilize the GDP deflator. Ou’s (1991) empirical study covering the period from 1970.1 to 1990.4 also concludes that import prices had more influence than money supply on both the GNP deflator and the CPI, by comparing the accumulated impacts over eight quarters. This paper intends ...
... the 1980s helped stabilize the GDP deflator. Ou’s (1991) empirical study covering the period from 1970.1 to 1990.4 also concludes that import prices had more influence than money supply on both the GNP deflator and the CPI, by comparing the accumulated impacts over eight quarters. This paper intends ...
The Theory of Relative-Price Changes, Money, and Demand Factors
... in money and rejects the Ball and Mankiw (1995) hypothesis, based on Japanese wholesale price data for 1976–1994. Presumably because Ball and Mankiw (1995) themselves present it as chiefly a supply-side theory, many people associate the success of this theory with that of the supply-side theory of ...
... in money and rejects the Ball and Mankiw (1995) hypothesis, based on Japanese wholesale price data for 1976–1994. Presumably because Ball and Mankiw (1995) themselves present it as chiefly a supply-side theory, many people associate the success of this theory with that of the supply-side theory of ...
Document
... Next Friedman discusses whether an increase in money supply will go first into output or prices. Initially, when there monetary expansion, the nominal income of the people increases. Its immediate-ate effect will be to increase the demand for goods. This will raise the demand for labour. Workers wil ...
... Next Friedman discusses whether an increase in money supply will go first into output or prices. Initially, when there monetary expansion, the nominal income of the people increases. Its immediate-ate effect will be to increase the demand for goods. This will raise the demand for labour. Workers wil ...
Consumption and Saving Behavior Under Strict and Partial Rationing
... derived a “matched pair” of demand functions, one rationed and one unrationed, using a theoretical construction similar to Neary and Roberts’ (1980). Using British data to estimate a modified version of the Almost Ideal Demand System (AIDS) (Deaton & Muellbauer, 1980) he demonstrated a methodology f ...
... derived a “matched pair” of demand functions, one rationed and one unrationed, using a theoretical construction similar to Neary and Roberts’ (1980). Using British data to estimate a modified version of the Almost Ideal Demand System (AIDS) (Deaton & Muellbauer, 1980) he demonstrated a methodology f ...
Aggregate demand and aggregate supply
... from AD1 to AD2. In the short run, the economy moves from point A to point B. Output falls from Y1 to Y2, and the price level falls from P1 to P2. Over time, as the expected price level falls, the shortrun aggregate-supply curve shifts to the right from AS1 to AS2, and the economy reaches point C, w ...
... from AD1 to AD2. In the short run, the economy moves from point A to point B. Output falls from Y1 to Y2, and the price level falls from P1 to P2. Over time, as the expected price level falls, the shortrun aggregate-supply curve shifts to the right from AS1 to AS2, and the economy reaches point C, w ...
Chapter Twenty Nine
... Aggregate Supply (AS) Curve The AS curve is a graph that shows the relationship between the aggregate quantity of output supplied by all firms in an economy and the overall price level. ...
... Aggregate Supply (AS) Curve The AS curve is a graph that shows the relationship between the aggregate quantity of output supplied by all firms in an economy and the overall price level. ...
A recent study found that the demand and supply schedules for
... 2. Draw a supply-and-demand diagram for the cigarettes market with the tax. 3. Show the price paid by consumers, the price received by producers, and the quantity of cigarettes sold and what is the difference between the price paid by consumers and the price received by producers? 4. Has the quantit ...
... 2. Draw a supply-and-demand diagram for the cigarettes market with the tax. 3. Show the price paid by consumers, the price received by producers, and the quantity of cigarettes sold and what is the difference between the price paid by consumers and the price received by producers? 4. Has the quantit ...
AD - Binus Repository
... 1. Suppose consumers and investors suddenly become more pessimistic about the future and therefore decide to reduce their consumption and investment spending. How will a market economy adjust to this increase in pessimism? 2. If the general level of prices is higher than business decision makers ant ...
... 1. Suppose consumers and investors suddenly become more pessimistic about the future and therefore decide to reduce their consumption and investment spending. How will a market economy adjust to this increase in pessimism? 2. If the general level of prices is higher than business decision makers ant ...
Comparing per capita income in the Hellenistic world: the case of
... regions. In this way, he arrived at estimates for the central Euphrates flood plain of ca. 750,000, for Southern Babylonia, Nippur region, the Diyala region east of Baghdad, the Seleukeia-Tigres area, the South-eastern corner of the Mesopotamian plain, all ca. half a million. Also for the Eastern B ...
... regions. In this way, he arrived at estimates for the central Euphrates flood plain of ca. 750,000, for Southern Babylonia, Nippur region, the Diyala region east of Baghdad, the Seleukeia-Tigres area, the South-eastern corner of the Mesopotamian plain, all ca. half a million. Also for the Eastern B ...
NBER WORKING PAPER SERIES
... shock since the mid-1980s, while the strength of the response of the nominal interest rate has not changed much across sample periods. Variations in the dynamics of expectations play a key role in the "good policy" hypothesis of the Great Moderation (Clarida, Gali and Gertler (2000), Lubik and Schor ...
... shock since the mid-1980s, while the strength of the response of the nominal interest rate has not changed much across sample periods. Variations in the dynamics of expectations play a key role in the "good policy" hypothesis of the Great Moderation (Clarida, Gali and Gertler (2000), Lubik and Schor ...
Mankiw 5/e Chapter 13: Aggregate Supply
... output depends positively on the price level in the short run ...
... output depends positively on the price level in the short run ...
Mankiw 5/e Chapter 13: Aggregate Supply - CERGE-EI
... High Y High P When income is high, the demand for goods is high. Firms with flexible prices set high prices. The greater the fraction of flexible price firms, the smaller is s and the bigger is the effect of Y on P. CHAPTER 13 ...
... High Y High P When income is high, the demand for goods is high. Firms with flexible prices set high prices. The greater the fraction of flexible price firms, the smaller is s and the bigger is the effect of Y on P. CHAPTER 13 ...
Mr. Mayer AP Macroeconomics
... purchase effects that explain AD’s downward slope Δ in C, IG, G, and/or XN cause Δ in GDPR because they Δ AD. Increase in AD = AD Decrease in AD = AD ...
... purchase effects that explain AD’s downward slope Δ in C, IG, G, and/or XN cause Δ in GDPR because they Δ AD. Increase in AD = AD Decrease in AD = AD ...
Understanding Stock Market Fluctuations
... nation’s most distinguished economists, announced that the U.S. economy peaked in December 2007 and has been in recession since. Referring back to the first paragraph of this article, you will remember that stock prices peaked earlier, in October 2007. This is an example of the typical peaking in st ...
... nation’s most distinguished economists, announced that the U.S. economy peaked in December 2007 and has been in recession since. Referring back to the first paragraph of this article, you will remember that stock prices peaked earlier, in October 2007. This is an example of the typical peaking in st ...
ECONOMICS
... Another View of the Aggregate Supply Curve • In the short run there must be a lag between changes in output prices and changes in input prices, otherwise the aggregate supply (price/output response) curve would be ...
... Another View of the Aggregate Supply Curve • In the short run there must be a lag between changes in output prices and changes in input prices, otherwise the aggregate supply (price/output response) curve would be ...
The Effects of Heterogeneity in Price Setting on Price and Inflation
... Standard models of nominal price rigidity based on the seminal contributions of either Taylor (1979, 1980) or Calvo (1983) usually do not involve any explicit attempt to model heterogeneity in pricesetting rules followed by firms. They are usually assumed to be ex-ante identical, modulo the time at ...
... Standard models of nominal price rigidity based on the seminal contributions of either Taylor (1979, 1980) or Calvo (1983) usually do not involve any explicit attempt to model heterogeneity in pricesetting rules followed by firms. They are usually assumed to be ex-ante identical, modulo the time at ...
CHAPTER OVERVIEW
... unused capacity and idle human resources. Under such conditions, per-unit production costs rise slowly because of the relative abundance of available inputs. Additional resources are easily brought into production, as the suppliers of these resources (especially labor) are anxious to employ them and ...
... unused capacity and idle human resources. Under such conditions, per-unit production costs rise slowly because of the relative abundance of available inputs. Additional resources are easily brought into production, as the suppliers of these resources (especially labor) are anxious to employ them and ...
PDF
... As expected, dairy import and international whole milk powder price are negatively related, while the income is positively related to dairy import. More specifically (Table 3), a 1% increase in GDP per capita will result in a 1.21% increase in dairy import approximately, holding other things constan ...
... As expected, dairy import and international whole milk powder price are negatively related, while the income is positively related to dairy import. More specifically (Table 3), a 1% increase in GDP per capita will result in a 1.21% increase in dairy import approximately, holding other things constan ...
The Impact of the Earthquake on the Output Gap and Prices
... output by raising labor input if there are electricity shortages. A move up and to the right in the chart represents an increase in output and a move down and to the left represents a decrease in output. ...
... output by raising labor input if there are electricity shortages. A move up and to the right in the chart represents an increase in output and a move down and to the left represents a decrease in output. ...
The Impact of Higher Oil Prices on the Global Economy
... from about $20 a barrel in early 1997 to below $11 in February 1999 (Figure 1). In an effort to arrest the decline in the price of oil, the Organization of Petroleum Exporting Countries (OPEC) met on several occasions in 1998 and concluded agreements to restrain production.6 The upward trend in prod ...
... from about $20 a barrel in early 1997 to below $11 in February 1999 (Figure 1). In an effort to arrest the decline in the price of oil, the Organization of Petroleum Exporting Countries (OPEC) met on several occasions in 1998 and concluded agreements to restrain production.6 The upward trend in prod ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... price of capital has varied in different degree in the several industries. But the interindustry structures of wage rates and of capital compensation per unit have been relatively stable over time, in contrast to the marked difference in movement between the prices of the two major factor classes, l ...
... price of capital has varied in different degree in the several industries. But the interindustry structures of wage rates and of capital compensation per unit have been relatively stable over time, in contrast to the marked difference in movement between the prices of the two major factor classes, l ...
Monetary Transmission Mechanism Through an Expectation
... looking for work has been stable or mostly rising since 2008. • This occurrence isn’t however because of superior demographics; in fact Britain’s population is aging, just like in the U.S. • Mark Carney, the BOE’s governor, says, “One reason might be that in Britain, many people who might have retir ...
... looking for work has been stable or mostly rising since 2008. • This occurrence isn’t however because of superior demographics; in fact Britain’s population is aging, just like in the U.S. • Mark Carney, the BOE’s governor, says, “One reason might be that in Britain, many people who might have retir ...
Aggregate Demand and Aggregate Supply
... Economists have generally believed that falling oil prices will benefit the U.S. economy and lead to higher economic growth. Falling oil prices should lead to falling gasoline and heating oil prices and put more money in the pockets of consumers that will lead to increases in aggregate demand. Since ...
... Economists have generally believed that falling oil prices will benefit the U.S. economy and lead to higher economic growth. Falling oil prices should lead to falling gasoline and heating oil prices and put more money in the pockets of consumers that will lead to increases in aggregate demand. Since ...
Food stocks and price volatility - Food and Agriculture Organization
... on Stocks, Markets and Stability held at FAO headquarters, Rome, 30-31 January 20141. The Committee is invited to consider the information presented herein and to discuss its policy ...
... on Stocks, Markets and Stability held at FAO headquarters, Rome, 30-31 January 20141. The Committee is invited to consider the information presented herein and to discuss its policy ...
Analyzing Market-based Resource Allocation Strategies
... carries with it an inherent notion of relative worth which can be used to quantify the cost-to-benefit ratio for both Grid users and stake-holders. While there are a number of different plausible G-commerce market formulations for the Grid, we focus on two broad categories: commodities markets and a ...
... carries with it an inherent notion of relative worth which can be used to quantify the cost-to-benefit ratio for both Grid users and stake-holders. While there are a number of different plausible G-commerce market formulations for the Grid, we focus on two broad categories: commodities markets and a ...
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.""