The Algebraic Galaxy of Simple Macroeconomic Models

The Algebraic Galaxy of Simple Macroeconomic Models PDF Author: Mr.Evan C Tanner
Publisher: International Monetary Fund
ISBN: 1484301773
Category : Business & Economics
Languages : en
Pages : 41

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Book Description
Simple macroeconomic frameworks like the IS/LM have survived because they help us conceptualize complex problems while also providing ‘back of the envelope’ estimates of macroeconomic outcomes. Herein, a bare-bones New Keynesian extension of the IS/LM model yields solutions for core macro variables (output gap, inflation, interest rate, real exchange rate misvaluation)—expressed in percent. We then extend that standard model to also generate a corresponding set of demand-side elements—expressed in currency units. A key aim of the paper is to reconcile these two metrics in ways that also aid communication and intuition—including through IS/LM-style graphs.

Disinflation, External Vulnerability, and Fiscal Intransigence

Disinflation, External Vulnerability, and Fiscal Intransigence PDF Author: Mr.Evan C Tanner
Publisher: International Monetary Fund
ISBN: 1484301145
Category : Business & Economics
Languages : en
Pages : 34

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Book Description
This paper examines the policy challenges a country faces when it wants to both reduce inflation and maintain a sustainable external position. Mundell’s (1962) policy assignment framework suggests that these two goals may be mutually incompatible unless monetary and fiscal policies are properly coordinated. Unfortunately, if the fiscal authority is unwilling to cooperate—a case of fiscal intransigence—central banks that pursue a disinflation on a ‘go it alone’ basis will cause the country’s external position to further deteriorate. A dynamic analysis shows that if the central bank itself lacks credibility in its inflation goal, it must rely even more on cooperation from the fiscal authority than otherwise. Echoing Sargent and Wallace’s (1981) ‘unpleasant monetarist arithmetic,’ in these circumstances, a ‘go it alone’ policy may successfully stabilize prices and output, but only on a short-term basis.

IMF Research Bulletin, Summer 2017

IMF Research Bulletin, Summer 2017 PDF Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1484315448
Category : Business & Economics
Languages : en
Pages : 19

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Book Description
The Summer 2017 issue of the IMF Research Bulletin highlights new research such as recent IMF Working Papers and Staff Discussion Notes. The Research Summaries are “Structural Reform Packages, Sequencing, and the Informal Economy (by Zsuzsa Munkacsi and Magnus Saxegaard) and “A Broken Social Contract, Not High Inequality Led to the Arab Spring” (by Shantayanan Devarajan and Elena Ianchovichina). The Q&A section features “Seven Questions on Fintech” (by Tommaso Mancini-Griffoli). The Bulletin also includes information on recommended titles from IMF Publications and the latest articles from the IMF Economic Review.

Macroeconomic Theory and Macroeconomic Pedagogy

Macroeconomic Theory and Macroeconomic Pedagogy PDF Author: G. Fontana
Publisher: Springer
ISBN: 023029166X
Category : Business & Economics
Languages : en
Pages : 356

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Book Description
This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this model, and endogenous money and finance.

Principles of Macroeconomics

Principles of Macroeconomics PDF Author: Douglas Curtis
Publisher:
ISBN:
Category : Electronic books
Languages : en
Pages : 435

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Book Description
"Principles of Macroeconomics is an adaptation of the textbook, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course. Examples are domestic and international in their subject matter and are of the modern era — financial markets, monetary and fiscal policies aimed at inflation and debt control, globalization and the importance of trade flows in economic structure, and concerns about slow growth and the risk of deflation, are included. This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Principles of Microeconomics. The three introductory chapters are common to both textbooks."--BCcampus website.

A Practical Guide to Trade Policy Analysis

A Practical Guide to Trade Policy Analysis PDF Author: Marc Bacchetta
Publisher:
ISBN: 9789287038128
Category : Political Science
Languages : en
Pages : 0

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Book Description
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development

Unemployment Fluctuations and Stabilization Policies

Unemployment Fluctuations and Stabilization Policies PDF Author: Jordi Gali
Publisher: MIT Press
ISBN: 0262553821
Category : Business & Economics
Languages : en
Pages : 119

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Book Description
A new approach for introducing unemployment into the New Keynesian framework. The past fifteen years have witnessed the rise of the New Keynesian model as a framework of reference for the analysis of fluctuations and stabilization policies. That framework, which combines the rigor and internal consistency of dynamic general equilibrium models with such typically Keynesian assumptions as monopolistic competition and nominal rigidities, makes possible a meaningful, welfare-based analysis of the effects of monetary policy rules. But the conspicuous absence of unemployment from the standard New Keynesian model has given rise to both criticism and attempts to rectify this anomaly. In this book, Jordi Galí, one of the major contributors to the New Keynesian literature, offers a new approach to introducing unemployment into that framework. Galí's approach involves a reinterpretation of the labor market in the standard New Keynesian model with staggered wage setting (rather than a modification or extension of the model, as has been proposed by others). The resulting framework preserves the convenience of the representative household paradigm and allows one to determine the equilibrium levels of employment, the labor force, and hence the unemployment rate conditional on the monetary policy in place. Galí develops the basic model, embedding it in a standard New Keynesian framework with staggered price and wage setting; revisits the relationship between economic fluctuations and efficiency through the lens of the new model, developing a measure of the output gap; and analyzes the relation between unemployment and the design of monetary policy.

Models as Mediators

Models as Mediators PDF Author: Mary S. Morgan
Publisher: Cambridge University Press
ISBN: 9780521655712
Category : Business & Economics
Languages : en
Pages : 420

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Book Description
Edited collection examining the ways in which models are used in modern science.

Probability Theory

Probability Theory PDF Author:
Publisher: Allied Publishers
ISBN: 9788177644517
Category :
Languages : en
Pages : 436

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Book Description
Probability theory

An Introduction to Macroeconomic Models

An Introduction to Macroeconomic Models PDF Author: K. C. Kogiku
Publisher:
ISBN:
Category :
Languages : en
Pages : 235

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Book Description
Macroeconomic models; Macroeconomic equations; Analysis of income-expenditure models; A model a aggregate demand; A model of income determination; Inflation; The problem of capital accumulation; Neoclassical models of economic growth; Empirical macroeconomic models.