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Money Output And Prices Evidence From A New Monetary Aggregate By Julio J Rotemberg John C Driscoll And James M Poterba
Download Money Output And Prices Evidence From A New Monetary Aggregate By Julio J Rotemberg John C Driscoll And James M Poterba full books in PDF, epub, and Kindle. Read online Money Output And Prices Evidence From A New Monetary Aggregate By Julio J Rotemberg John C Driscoll And James M Poterba ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Money, Output, and Prices by : Julio Rotemberg
Download or read book Money, Output, and Prices written by Julio Rotemberg and published by . This book was released on 1991 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a new utility-based monetary aggregate which we label the currency equivalent aggregate. This aggregate equals the stock of currency that would be required for households to obtain the same liquidity services that they get from their entire collection of monetary assets. We compare the ability of the new aggregate and conventional aggregates, such as Ml and M2, and other indicators of monetary policy to forecast real activity. The CE aggregate has more predictive power for output and prices than standard aggregates, and the time path of the estimated output response is more consistent with broad classes of theoretical models.
Book Synopsis Divisia Monetary Aggregates by : M. Belongia
Download or read book Divisia Monetary Aggregates written by M. Belongia and published by Springer. This book was released on 2000-10-06 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The leading researchers from central banks and universities around the world debate issues central to the performance of Divisia monetary aggregates both in theory and in practice. The overall conclusion is that Divisia monetary aggregates outperform their simple sum counterparts in a wide range of applications the world over. The book is the first volume-length study of empirical data and theoretical research on the subject.
Book Synopsis Money, Output, and Prices--evidence From a New Monetary Aggregate / by Julio J. Rotemberg, John C. Driscoll, and James M. Poterba by : Julio Rotemberg
Download or read book Money, Output, and Prices--evidence From a New Monetary Aggregate / by Julio J. Rotemberg, John C. Driscoll, and James M. Poterba written by Julio Rotemberg and published by Palala Press. This book was released on 2018-03-03 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Book Synopsis Reducing Inflation by : Christina D. Romer
Download or read book Reducing Inflation written by Christina D. Romer and published by University of Chicago Press. This book was released on 2007-12-01 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.
Book Synopsis Social Choice, Welfare, and Ethics by : William A. Barnett
Download or read book Social Choice, Welfare, and Ethics written by William A. Barnett and published by Cambridge University Press. This book was released on 1995-02-24 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Parts three and four are devoted to algebraic and combinatorial aspects of social choice theory, including analyses of Arrow's Theorem, consensus functions, and the role of geometry. Part five deals with the application of cooperative game theory to social choice.
Book Synopsis Monthly Report on General Business and Agricultural Conditions in Federal Reserve District No. 8 by :
Download or read book Monthly Report on General Business and Agricultural Conditions in Federal Reserve District No. 8 written by and published by . This book was released on 1994 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis JOURNAL OF BUSINESS AND ECONOMIC STATISTICS by :
Download or read book JOURNAL OF BUSINESS AND ECONOMIC STATISTICS written by and published by . This book was released on 1995 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Informativeness of Prices by : Roland Benabou
Download or read book The Informativeness of Prices written by Roland Benabou and published by . This book was released on 1991 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Aggregate cost uncertainty, arising from real shocks or unanticipated inflation, reduces the informativeness of prices by scrambling relative and aggregate variations. But when agents can acquire additional information, such increased noise may in fact lead them to become better informed, and price competition will intensify. We examine these issues in a model of search with learning, where consumers search optimally from an unknown price distribution while firms price optimally given consumers' search rules. We show that the decisive factor in whether inflation variability increases or reduces the incentive to search, and thereby market efficiency, is the size of informational costs.
Book Synopsis Labor Turnover Costs and Average Labor Demand by : Giuseppe Bertola
Download or read book Labor Turnover Costs and Average Labor Demand written by Giuseppe Bertola and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies simple partial equilibrium models of dynamic labor demand, under certainty. Labor turnover costs may or may not decrease the firm's average labor demand, depending on the form of the revenue function, on the rates of discount and of labor attrition, and on the relative size of hiring and firing costs. With strictly positive discount and labor attrition rates, the firm's optimal policy is partially myopic, and firing costs may well increase average employment even when hiring costs reduce it.
Download or read book Review written by and published by . This book was released on 1997 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Asset Pricing and Intrinsic Values by : Bruce N. Lehmann
Download or read book Asset Pricing and Intrinsic Values written by Bruce N. Lehmann and published by . This book was released on 1991 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: A review of A Reappraisal of the efficiency of financial markets edited by Rui M.C. Guimaraes, Brian G. Kingsman and Stephen J. Taylor.
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 1991 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Are Real House Prices Likely to Decline by 47 Percent? by : Patric H. Hendershott
Download or read book Are Real House Prices Likely to Decline by 47 Percent? written by Patric H. Hendershott and published by . This book was released on 1991 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mankiw and Weil have estimated a demographically-driven real house price equation on annual data from the 1947-87 period and used it to forecast real house prices over the 1988-2007 period. The result is their infamous 47 percent real decline. Their equation really only fits data from the 1950s and 1960s. Not only is the post 1970 fit poor, but the cumulative in-sample forecast for the 1970-87 period is off by a factor of four. While real house prices seem more likely to decline than increase over the next two decades, the most likely decline is 10 to 15 percent, not 47 percent.
Book Synopsis Evidence on Employment Effects of Minimum Wages and Subminimum Wage Provisions from Panel Data on State Minimum Wage Laws by : David Neumark
Download or read book Evidence on Employment Effects of Minimum Wages and Subminimum Wage Provisions from Panel Data on State Minimum Wage Laws written by David Neumark and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: We construct a panel data set on state-level minimum wage laws and economic conditions to reevaluate existing evidence on minimum wage effects on employment, most of which comes from time-series data. Our estimates of the elasticities of teen and young-adult employment-to-population ratios fall primarily in the range -0.1 to -0.2, similar to the consensus range of estimates from time-series studies. We also find evidence that youth subminimum wage provisions enacted by state legislatures have moderated the disemployment effects of minimum wages.
Book Synopsis Measuring the Contribution of Public Infrastructure Capital in Sweden by : Ernst R. Berndt
Download or read book Measuring the Contribution of Public Infrastructure Capital in Sweden written by Ernst R. Berndt and published by . This book was released on 1991 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our purpose in this paper is to examine how one might evaluate and measure the contribution of public infrastructure capital on private sector output and productivity growth in Sweden. We do this by specifying and implementing empirically a number of alternative econometric models, using annual data for Sweden from 1960 to 1988. Using a dual cost function approach, we find that increases in public infrastructure capital, ceteris paribus, reduce private sector costs. We compute that amount of public infrastructure capital that would rationalize the cost savings incurred by the private business and manufacturing sectors, and find that the amount that can be rationalized in this manner is less than what was in fact available in 1988, but that the extent of excess public infrastructure capital has been falling in the 1980's.
Book Synopsis How Computers Have Changed the Wage Structure by : Alan B. Krueger
Download or read book How Computers Have Changed the Wage Structure written by Alan B. Krueger and published by . This book was released on 1991 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Meaning of Money in the Great Depression by : Hugh Rockoff
Download or read book The Meaning of Money in the Great Depression written by Hugh Rockoff and published by . This book was released on 1993 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The quality of the money stock declined during the banking crises of the early 1930s. Bank deposits did not serve as a secure short- term store of purchasing power for use in an emergency as well as they had previously, and during the periods of restricted deposits in late 1932 and early 1933, bank deposits could not fulfill their basic function of being a medium of exchange. This paper presents some evidence to show that the decline in the quality of the money stock contributed to the severity of the contraction.
