Macroeconomic theory and policy phần 8 potx

... 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, ... 66: 467 82 . 3. Smith, Bruce D. (1 985 ). “American Colonial Regimes: The Failure of the Quantity Theory and Some Evidence in Favour of an A lternative View,” Canadian Journal of Eco...

Ngày tải lên: 09/08/2014, 19:21

... TheNominalInterestRate 177 8. 5.1 TheFisherEquation 179 8. 6 ARateofReturnDominancePuzzle 181 8. 6.1 TheFriedmanRule 183 8. 7 InflationUncertainty 184 8. 8 Summary 185 8. 9 Problems 186 8. 10References 186 9 The New-Keynesian ... ADynamicModelofUnemployment 161 II Macroeconomic Theory: Mo ney 165 8 Money, Interest, and Prices 167 8. 1 Introduction 167 8. 2 WhatisMoney? 1 68 8...

Ngày tải lên: 09/08/2014, 19:21

... variables in the U.S. economy. -6 -4 -2 0 2 4 6 8 65 70 75 80 85 90 95 00 Real per capita GDP Hours per capita Percent per Annum -6 -4 -2 0 2 4 6 8 65 70 75 80 85 90 95 00 Real per capita GDP Labor Productivity Percent ... Annum -6 -4 -2 0 2 4 6 8 65 70 75 80 85 90 95 00 Real per capita GDP Real Wage Percent per Annum -6 -4 -2 0 2 4 6 65 70 75 80 85 90 95 00 Hours per capita Rea...

Ngày tải lên: 09/08/2014, 19:21

... 4 .8. 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 ... Explain. 4 .8 R eferences 1. Andolfatto, David (2002). “A Theory of Inalienable Property Rights,” Journal of Political Economy, 110(2): 382 -393. 2. Bluedorn, John (2002). “Hurricanes: Capital Shocks and ... Bluedorn, John (2002). “Hur...

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 ... goods and services). Examples of such capital include the residential capital stock (which produces shelter services) and various forms of business capital (office towers, land, mac...

Ngày tải lên: 09/08/2014, 19:21

... Small Open Economy,” American Economic Review, 81 (4): 797 81 8. 8. 4. THE QUANTITY THEORY OF MONEY 173 8. 3.3 Go v ernm en t Money Traditionally, most macroeconomic models that include money view ... ln(e)=x (since ln e =1) ;and ln(xy)=ln(x)+ln(y). 1 48 CHAPTER 7. LABOR MARKET FLOWS AND U NEMPLOYMEN T and out of employment. Employment 11,100,000 Nonemployment 7,7 08, 000 480 ,0...

Ngày tải lên: 09/08/2014, 19:21

... a decline in demand that would exacerbate an econom ic downturn. 189 8. 10. REFERENCES 187 3. Smith, Bruce D. (1 985 ). “American Colonial Monetary Regimes: The Failure of the Quantity Theory and Some ... Wallace, Neil (1 983 ). “A Legal Restrictions Theory of the Demand for ‘Money’ and the Role of Monetary Policy, ” Federal Reserve Bank of Min- neapolis Quarterly Review, 7(1): 1—...

Ngày tải lên: 09/08/2014, 19:21

... the defeat of the Armada (1 588 ) at the hands of the English, the balance of power shifted in the Baroque era (1600 A.D. - 1750 A.D.) toward England, France and Holland. This episode in European ... Robert, Neil Wallace, and Warren E. Weber (1992). “Nonfunda- men t al Uncertainty and Exchange Rates,” Journal of International Ec o- nomics, 32: 83 —1 08. 3. Manueli, Rodolfo E. and Ja...

Ngày tải lên: 09/08/2014, 19:21

... (1990 US$) Year West East West/East 182 0 1,140 540 2.1 187 0 1 ,88 0 560 3.3 1900 2 ,87 0 580 4.2 1913 3,590 740 4 .8 1950 5,450 727 7.5 1973 10,930 1,670 6.5 1 989 13, 980 2,970 4.7 1992 13,790 3,240 4.3 The ... London. Severe riots occurred in Lancashire in 1779, and there many instances of factories being burned. Between 181 1 and 181 6, the Midlands and the industrial counties w...

Ngày tải lên: 09/08/2014, 19:21

... ARateofReturnDominancePuzzle 181 8. 6.1 TheFriedmanRule 183 8. 7 InflationUncertainty 184 8. 8 Summary 185 8. 9 Problems 186 8. 10References 186 9 The New-Keynesian View 189 9.1 Introduction 189 9.2 MoneyNon-Neutrality 189 9.2.1 ... ADynamicModelofUnemployment 161 II Macroeconomic Theory: Mo ney 165 8 Money, Interest, and Prices 167 8. 1 Introduction 167 8. 2 WhatisMoney? 1 6...

Ngày tải lên: 09/04/2014, 16:05