Monetary and Fiscal Strategies in the World Economy by Michael Carlberg 1 ppt

... unemployment by α percentage M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 25 DOI 10 .10 07/978-3-642 -10 476-3_5, © Springer-Verlag Berlin Heidelberg 2 010 41 Chapter 2 1. The ... unit increase in money supply lowers the rate of unemployment by 1 percentage point. On the other hand, it raises the rate Monetary and Fiscal...

Ngày tải lên: 20/06/2014, 23:20

... decline in the demand for European and American goods. In terms of the model there is an increase in 1 A of 3 units, a decline in 1 B of 3 units, an increase in 2 A of 3 units, and a decline ... that the American central bank has a quadratic loss function: M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 83 DOI 10 .10 07/978-3...

Ngày tải lên: 20/06/2014, 23:20

... 11 1 21 2 B M 0.5M G 0.5Gπ= + − + + (3) 22 2 12 1 B M 0.5M G 0.5Gπ= + − + + (4) M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 14 1 DOI 10 .10 07/978-3-642 -10 476-3 _19 , ... follows: M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 13 2 DOI 10 .10 07/978-3-642 -10 476-3 _18 , © Springer-Verlag Berlin...

Ngày tải lên: 20/06/2014, 23:20

... to minimize the loss, given the inflation functions, the M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 217 deficit in Europe, and a zero structural deficit in America. The ... government, and the American government are respectively: 22 11 1 LM u=π + (11 ) 22 222 LM u=π + (12 ) 22 11 1 LG u s=+ (13 ) Monetary and F...

Ngày tải lên: 20/06/2014, 23:20

... minimum loss are: 11 212 1 2 5M 2A A 2B B 3G 4M=−−+−+ (9) 2 212 1 21 5M 2A A 2B B 3G 4M=−−+−+ (10 ) 11 212 112 7G 2A A 2B B 2T 3M 4G=+−−+−− (11 ) 2 212 12 21 7G 2A A 2B B 2T 3M 4G=+−−+−− (12 ) ... of the model there is an increase in 1 B of 3 units, as there is in 1 A . And there is an increase in 2 B of 3 units, as there is in 2 A . Step two refers to th...

Ngày tải lên: 20/06/2014, 23:20

... in Europe, monetary interaction lowers inflation in Europe. On the other hand, it raises unemployment there. 279 274 5) Comparing monetary- fiscal interaction A and monetary- fiscal interaction ... Comparing pure monetary interaction and monetary- fiscal interaction. As a result, in case A, the system of pure monetary interaction is superior to the s...

Ngày tải lên: 20/06/2014, 23:20

... M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 68 DOI 10 .10 07/978-3-642 -10 476-3 _10 , © Springer-Verlag Berlin Heidelberg 2 010 63 America. As a result, monetary interaction ... In terms of the model there is an increase in 1 B of 3 units, as there is in 1 A . And there is an increase in 2 B of 3 units, as there is in 2 A ....

Ngày tải lên: 21/06/2014, 07:20

... ratio in Europe, 2 s is the M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 11 7 DOI 10 .10 07/978-3-642 -10 476-3 _17 , © Springer-Verlag Berlin Heidelberg 2 010 10 6 2 11 Lu= ... inflation in Europe, and 2 B is some other factors bearing on the rate of inflation M. Carlberg, Monetary and Fiscal Strategies in the W...

Ngày tải lên: 21/06/2014, 07:20

... 11 1 21 2 B M 0.5M G 0.5Gπ= + − + + (3) 22 2 12 1 B M 0.5M G 0.5Gπ= + − + + (4) M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 14 1 DOI 10 .10 07/978-3-642 -10 476-3 _19 , ... follows: M. Carlberg, Monetary and Fiscal Strategies in the World Economy, 13 2 DOI 10 .10 07/978-3-642 -10 476-3 _18 , © Springer-Verlag Berlin...

Ngày tải lên: 21/06/2014, 07:20

... 2 11 1 21 2 2 11 21 2 2 11 L(BM0.5MG0.5G) (A M 0.5M G 0.5G ) (G T ) =+− ++ +−+ −− +− Then the first-order conditions for a minimum loss are: 11 1 12 2 2M A B 2G G M=−− −+ (9) 11 11 1 ... of the model there is an increase in 1 B of 3 units, as there is in 1 A . And there is an increase in 2 B of 3 units, as there is in 2 A . Step two refers to the o...

Ngày tải lên: 21/06/2014, 07:20