Macroeconomic theory and policy phần 7 pps

... Restrictions Theory of the Demand for ‘Money’ and the Role of Monetary Policy, ” Federal Reserve Bank of Min- neapolis Quarterly Review, 7( 1): 1 7. 180 CHAPTER 8. MONEY, INTEREST, AND PRICES 0 2 4 6 8 10 12 1 970 ... (AS) function and an ‘aggregate demand’ (AD) function. These labels are perhaps not the best ones available, since these ‘supply’ and ‘demand’ functions do not corr...

Ngày tải lên: 09/08/2014, 19:21

... REFERENCES 101 theory? (see Figure 4. 17) . -3 -2 -1 0 1 2 3 4 78 80 82 84 86 88 90 92 94 96 GDP Consumption-Output Ratio Percent Deviation from Trend Figure 4. 17 Dominca Real per capita GDP and the Consumption-Output ... CHAPTER 4. CONSUMPTION AND SAVING may play a significan t role in explaining wh y employment varies so much across seasons. 96 CHAPTER 4. CONSUMPTION AND SAVING 1 2...

Ngày tải lên: 09/08/2014, 19:21

... the hands of the English, the balance of power shifted in the Baroque era (1600 A.D. - 175 0 A.D.) toward England, France and Holland. This episode in European history is known more for art and ... current living standards depend on past growth rates and that our future living standards (or those of our children) will depend on current and future growth rates, the question of growth...

Ngày tải lên: 09/08/2014, 19:21

... 144 6 .7 Problems 146 6.8 References 146 7 Labor Market Flows and Unemployment 1 47 7.1 Introduction 1 47 7.2 TransitionsIntoandOutofEmployment 1 47 7.2.1 AModelofEmploymentTransitions 149 7. 3 Unemployment ... Unemployment 153 7. 3.1 AModelofUnemployment 155 7. 3.2 GovernmentPolicy 158 7. 4 Summary 159 7. 5 Problems 160 7. 6 References 160 7. A ADynamicModelofUnemployment 161...

Ngày tải lên: 09/08/2014, 19:21

... Complementarities and Macroeconomics, New York: Cambridge University Press. 2. Keynes, John M. (1936). The General Theory of Employment, Interest and Money, MacMillan, Cambridge Univ ersity Press. 3. Kydland, ... treated as ‘God-given’ and are labelled exogenous variables.Inthetheory developed above, the key exogenous v ariables are z (technology) and u (pref- erences). Th u s, the...

Ngày tải lên: 09/08/2014, 19:21

... distortions) and kept at this higher level until the debt is paid off. 5 .7 U.S . Fisc a l Policy There has been much talk recently of George W. Bush’s fiscal policy. In a nut- shell, this policy appears ... investment spending and lead to higher interest rates. These issues can be explored in later chapters once we have an appropriate theory of investment developed. 5 .7. U.S. FISC...

Ngày tải lên: 09/08/2014, 19:21

... =1) ;and ln(xy)=ln(x)+ln(y). 148 CHAPTER 7. LABOR MARKET FLOWS AND U NEMPLOYMEN T and out of employment. Employment 11,100,000 Nonemployment 7, 708,000 480,000 per month 465,000 per month FIGURE 7. 1 Average ... unemployme nt and vacancies; see Figure 7. 8. This negative relationship is referred to as the ‘Beveridge Curve.’ Is the theory 174 CHAPTER 8. MONEY, INTEREST, AND PRIC...

Ngày tải lên: 09/08/2014, 19:21

... from a royal family? And why does the nominal exchange rate between Queens and Lauriers remain constant over time? Are there separate and stable supplies and demands for Queens and Lauriers? No, ... 1960s). The Bretton-Woods agreement was abandoned in the early 1 970 s when the United States abandoned its policy of pegging the USD to gold. Since the abandonment of the Bretton-Wood...

Ngày tải lên: 09/08/2014, 19:21

... East West/East 1820 1,140 540 2.1 1 870 1,880 560 3.3 1900 2, 870 580 4.2 1913 3,590 74 0 4.8 1950 5,450 72 7 7. 5 1 973 10,930 1, 670 6.5 1989 13,980 2, 970 4 .7 1992 13 ,79 0 3,240 4.3 The data in Table 10.1 ... in London. Severe riots occurred in Lancashire in 177 9, and there many instances of factories being burned. Between 1811 and 1816, the Midlands and the industrial countie...

Ngày tải lên: 09/08/2014, 19:21

... Difference ϩ400 76 .1448 71 . 573 5 4. 571 3 ϩ300 81. 072 4 78 .2050 2.8 674 ϩ200 86.4398 84.8365 1.6033 ϩ100 92.29 17 91.4681 0.8236 0 98.0996 98.0996 0.0000 Ϫ100 105.6525 104 .73 11 0.9214 Ϫ200 113. 277 7 111.32 27 1.9550 Ϫ300 ... 6.9344 2.9104 20.18 17 139.94 87 160.1304 3.8125 7. 9344 2 .79 92 22.2102 176 .2255 198.43 57 3.8125 8.9344 2.6923 24.0544 214.9121 238.9665 103.8125 9....

Ngày tải lên: 14/08/2014, 05:20