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Author : Eun Kwan Choi
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (255 download)
Download or read book Uncertainty, Price Stabilization, and Welfare written by Eun Kwan Choi and published by . This book was released on 1992 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sven R Larson
Publisher : Routledge
ISBN 13 : 1351754149
Total Pages : 176 pages
Book Rating : 4.3/5 (517 download)
Download or read book Uncertainty, Macroeconomic Stability and the Welfare State written by Sven R Larson and published by Routledge. This book was released on 2019-01-15 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2002: This monograph sets out to model a macroeconomy that is inherently unstable because of qualitative - or Keynesian - uncertainty. By modelling a macroeconomic theory, this approach to fixed or sticky prices also investigates the link between uncertainty, sticky prices, and macro-stability - by suggesting that such prices improve economic activity rather than impeding it.
Author : David L. Baumer
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (9 download)
Download or read book The Social Welfare Consequences of Price Stabilization and Risk written by David L. Baumer and published by . This book was released on 1987 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eun Kwan Choi
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 ( download)
Download or read book Uncertainty, Price Stabilization, and Welfare written by Eun Kwan Choi and published by . This book was released on 1992 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sven R Larson
Publisher :
ISBN 13 : 9781315192123
Total Pages : pages
Book Rating : 4.1/5 (921 download)
Download or read book Uncertainty, Macroeconomic Stability and the Welfare State written by Sven R Larson and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "This title was first published in 2002: This monograph sets out to model a macroeconomy that is inherently unstable because of qualitative - or Keynesian - uncertainty. By modelling a macroeconomic theory, this approach to fixed or sticky prices also investigates the link between uncertainty, sticky prices, and macro-stability - by suggesting that such prices improve economic activity rather than impeding it."--Provided by publisher.
Author : Michael Sampson
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (424 download)
Download or read book The Welfare Implications of Parameter Uncertainty for Stabilization Policy written by Michael Sampson and published by . This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael Sampson
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (424 download)
Download or read book The Welfare Implications of Uncertain Growth Rates for Stabilization Policy written by Michael Sampson and published by . This book was released on 1991 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jean-Paul Chavas
Publisher : University of Chicago Press
ISBN 13 : 022612892X
Total Pages : 394 pages
Book Rating : 4.2/5 (261 download)
Download or read book The Economics of Food Price Volatility written by Jean-Paul Chavas and published by University of Chicago Press. This book was released on 2014-10-14 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
Author : David M. G. Newbery
Publisher : Oxford University Press, USA
ISBN 13 :
Total Pages : 486 pages
Book Rating : 4.:/5 (49 download)
Download or read book The Theory of Commodity Price Stabilization written by David M. G. Newbery and published by Oxford University Press, USA. This book was released on 1981 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fundamentals: supply and demand under risk; Market equilibrium; Price stabilization with no supply response; Supply responses to stabilization; Microeconomic repercussions; Economic considerations.
Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)
Download or read book Measuring Welfare Changes from Commodity Price Stabilization in Small Open Economies written by and published by World Bank Publications. This book was released on with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Etienne B. Yehoue
Publisher : International Monetary Fund
ISBN 13 : 147550537X
Total Pages : 36 pages
Book Rating : 4.4/5 (755 download)
Download or read book On Price Stability and Welfare written by Mr.Etienne B. Yehoue and published by International Monetary Fund. This book was released on 2012-07-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis in the advanced countries that began in 2007 has led central bankers to adopt unconventional policy measures as policy interest rates neared the zero bound. One suggestion (Blanchard, Dell’Ariccia, and Mauro, 2010) has been to raise inflation targets to provide more room for policy rate easing during crises. This paper addresses a different issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key conclusion is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to maneuver above the zero lower bound for nominal policy rates is taken into account. Based on parameter values that fit U.S. data, the additional welfare costs of raising inflation targets from 2 to 4 percent are estimated at about 0.3 percent of annual real income. A rise to 10 percent would yield additional welfare costs of about 1 percent of real income. Other parameter values yield welfare costs as high as 7 (respectively 30) percent of real income for raising inflation targets from 2 to 4 (respectively from 2 to 10) percent. The full costs of raising inflation targets are likely to be higher because the model used to generate these estimates does not account for higher inflation-induced volatility.
Author : Claudio E. Raddatz
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4./5 ( download)
Download or read book Are External Shocks Responsible for the Instability of Output in Low Income Countries? written by Claudio E. Raddatz and published by World Bank Publications. This book was released on 2005 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: External shocks, such as commodity price fluctuations, natural disasters, and the role of the international economy, are often blamed for the poor economic performance of low-income countries. The author quantifies the impact of these different external shocks using a panel vector autoregression (VAR) approach and compares their relative contributions to output volatility in low-income countries vis-à-vis internal factors. He finds that external shocks can only explain a small fraction of the output variance of a typical low-income country. Internal factors are the main source of fluctuations. From a quantitative perspective, the output effect of external shocks is typically small in absolute terms, but significant relative to the historic performance of these countries.
Author : Davide Debortoli
Publisher : International Monetary Fund
ISBN 13 : 1484311752
Total Pages : 56 pages
Book Rating : 4.4/5 (843 download)
Download or read book Designing a Simple Loss Function for Central Banks written by Davide Debortoli and published by International Monetary Fund. This book was released on 2017-07-21 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Yes, it makes a lot of sense. This paper studies how to design simple loss functions for central banks, as parsimonious approximations to social welfare. We show, both analytically and quantitatively, that simple loss functions should feature a high weight on measures of economic activity, sometimes even larger than the weight on inflation. Two main factors drive our result. First, stabilizing economic activity also stabilizes other welfare relevant variables. Second, the estimated model features mitigated inflation distortions due to a low elasticity of substitution between monopolistic goods and a low interest rate sensitivity of demand. The result holds up in the presence of measurement errors, with large shocks that generate a trade-off between stabilizing inflation and resource utilization, and also when ensuring a low probability of hitting the zero lower bound on interest rates.
Author : Prasanta K. Pattanaik
Publisher : Springer Science & Business Media
ISBN 13 : 3540798323
Total Pages : 272 pages
Book Rating : 4.5/5 (47 download)
Download or read book Rational Choice and Social Welfare written by Prasanta K. Pattanaik and published by Springer Science & Business Media. This book was released on 2008-09-30 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together papers, which were ?rst presented at the International Conference on Rational Choice, Individual Rights and Non-Welfaristic Normative Economics, held in honour of Kotaro Suzumura at Hitotsubashi University, Tokyo, on 11–13 March 2006, and which have subsequently gone through the usual process of review by referees. We have been helped by many individuals and institutions in organizing the conference and putting this volume together. We are grateful to the authors of this volume for contributing their papers and to the referees who reviewed the papers. We gratefully acknowledge the very generous fundings by the Ministry of Education, Culture, Sports, Science and Technology, Japan, through the grant for the 21st Century Center of Excellence (COE) Program on the Normative Evaluation and Social Choice of Contemporary Economic Systems, and by the Japan Society for the Promotion of Science, through the grant for International Scienti?c Meetings in Japan, and the unstinted effort of the staff of the COE Program at Hitotsubashi University, without which the conference in 2006 would not have been possible. We thank Dr. Martina Bihn, the Editorial Director of Springer-Verlag for economics and business, for her advice and help. Finally, we would like to mention that it has been a great pleasure and privilege for us to edit this volume, which is intended to be a tribute to Kotaro Suzumura’s - mense intellectual contributions, especially in the theory of rational choice, welfare economics, and the theory of social choice. Riverside Prasanta K.
Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241769
Total Pages : 374 pages
Book Rating : 4.2/5 (262 download)
Download or read book The Costs and Benefits of Price Stability written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.
Author : Andrew Schmitz
Publisher : Emerald Group Publishing
ISBN 13 : 1785602144
Total Pages : 255 pages
Book Rating : 4.7/5 (856 download)
Download or read book Food Security in a Food Abundant World written by Andrew Schmitz and published by Emerald Group Publishing. This book was released on 2016-01-15 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Food insecurity can result from various events. While an adequate food supply is necessary, when food is abundant the entitlement to food is limited by endowments, the ability to trade, and potential transfers. This volume considers trends in economic growth, agricultural productivity growth, income and other policies that shape food security.
Author : Peter J. N. Sinclair
Publisher : Routledge
ISBN 13 : 1135179778
Total Pages : 402 pages
Book Rating : 4.1/5 (351 download)
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
