Macroeconomic theory and policy phần 9 ppsx
Macroeconomic theory and policy phần 9 ppsx
... Wallace, and Warren E. Weber ( 199 2). “Nonfunda-
men t al Uncertainty and Exchange Rates,” Journal of International Ec o-
nomics, 32: 83—108.
3. Manueli, Rodolfo E. and James P eck ( 199 0). “Exchange ... economies of Hong Kong, South Korea, Singapore and Taiwan,
all of which displayed dramatic rates of economic growth from the early 196 0s
to the 199 0s. In the 199 0s, other southea...
Macroeconomic theory and policy phần 1 ppt
... Introduction 1 89
9.2 MoneyNon-Neutrality 1 89
9.2.1 ABasicNeoclassicalModel 190
9. 2.2 ABasicKeynesianModel 191
9. 3 TheIS-LM-FEModel 193
9. 3.1 TheFECurve 193
9. 3.2 TheISCurve 194
9. 3.3 TheLMCurve 195
9. 3.4 ... . 195
9. 3.5 Response to a Money Supply Shock: Keynesian Model . . 197
9. 4 HowCentralBankersViewtheWorld 199
9. 4.1 PotentialOutput 199
9. 4.2 TheISandSRFECurves 201...
Macroeconomic theory and policy phần 2 pptx
... 36(4): 92 3 94 8.
5. Long, John B. and Charles Plosser ( 198 3). “Real Business Cycles,” Jour-
nal of Political Economy, 91 (1): 39 69.
6. Schumpeter, Joseph A. ( 194 2). Capitalism, Socialism, and Democracy,
Reprin ... economy?
2 .9 References
1. Cooper, Russell ( 199 9). Coordination Games: Complementarities and
Macroeconomics, New York: Cambridge University Press.
2. Keynes, John...
Macroeconomic theory and policy phần 4 pps
... 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
3
4
5
6
7
197 0 197 5 198 0 198 5 199 0 199 5 2000
Percent ... seen.
-15
-10
-5
0
5
10
15
197 0 197 5 198 0 198 5 199 0 199 5 2000
GDP Real Interest Rate
Percent per Annum
Figure 4.13
Growth Rate in Real per Capita GDP (Actual)
and t...
Macroeconomic theory and policy phần 5 pot
... of
1
See also: www.garfield.library.up enn.edu/ classics 199 2/ A 199 2G X2 2600001.p d f
128 CHAPTER 6. C APITAL AND INVESTMENT
6.2 C apital and Intertem poral P roduction
The production function ... 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...
Macroeconomic theory and policy phần 6 doc
... sample period 197 6— 199 1 (again, from Jones, 199 3).
Employment
11,100,000
245,000
190 ,000
FIGURE 7.4
Average Labor Market Stocks and Monthly Flows
Canada 197 6 - 199 1 (Jones, 199 3)
Unemployment
Nonparticipation
1,084,000
6,624,000
183,000
275,000
235,000
216,000
Figure ... Stocks and Flows
Canada 197 6 - 199 1 (Jones, 199 3)
Over the sample period 197 6— 199 1, the net monthly chan...
Macroeconomic theory and policy phần 7 pps
... Gap
Actual and Potential Output
-5
-4
-3
-2
-1
0
1
2
3
4
197 0 197 5 198 0 198 5 199 0 199 5 2000
Percent Deviation from HP Trend
Output Gap
FIGURE 9. 5
United States 197 0.1 - 2003.3
Figure 9. 5 suggests ... MONEY, INTEREST, AND PRICES
0
2
4
6
8
10
12
197 0 197 5 198 0 198 5 199 0 199 5 2000
Inflation Expected Inflation
Percent per Annum
FIGURE 8.2
Inflation and Expected Inflation...
Macroeconomic theory and policy phần 8 potx
... inflation during and just following the war. The gold standard was
resumed for a brief period during 192 5-31. Notice how the 192 0s and early 193 0s
were characterized by deflation (with the 192 0s being ... Bretton-Woods
agreement in the early 196 0s). The Bretton-Woods agreement was abandoned
in the early 197 0s when the United States abandoned its policy of pegging
the USD to gold. Si...
Macroeconomic theory and policy phần 10 pptx
... Income ( 199 0 US$)
Year West East West/East
1820 1,140 540 2.1
1870 1,880 560 3.3
190 0 2,870 580 4.2
191 3 3, 590 740 4.8
195 0 5,450 727 7.5
197 3 10 ,93 0 1,670 6.5
198 9 13 ,98 0 2 ,97 0 4.7
199 2 13, 790 3,240 ... Bairoch ( 199 3) and Pomeranz ( 199 8) argue that living standards across
countries in Europe, China, and the Indian subcontinent were roughly compara-
ble in 1800....
Macroeconomic theory and policy
... 186
9 The New-Keynesian View 1 89
9.1 Introduction 1 89
9.2 MoneyNon-Neutrality 1 89
9.2.1 ABasicNeoclassicalModel 190
9. 2.2 ABasicKeynesianModel 191
9. 3 TheIS-LM-FEModel 193
9. 3.1 TheFECurve 193
9. 3.2 ... HowCentralBankersViewtheWorld 199
9. 4.1 PotentialOutput 199
9. 4.2 TheISandSRFECurves 201
9. 4.3 ThePhillipsCurve 201
9. 4.4 MonetaryPolicy:TheTaylorRule 203
9. 5 Summary...
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