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are politically unpopular. Through estimation of household demand functions by income quintiles to evaluate the …
Persistent link: https://www.econbiz.de/10011242403
experiments, including fiscal, monetary, financial, demand, supply, and international shocks. …
Persistent link: https://www.econbiz.de/10011242434
A foundation is provided for a correct and accurate analysis of the relationship between monetary values and physical dimensions in economic production. A distinction is proposed between direct and indirect substitution. Linked to this, a classification is offered of various types of...
Persistent link: https://www.econbiz.de/10011256921
economy specific combinations of negative domestic or foreign output demand shocks, mitigated to varying degrees by …
Persistent link: https://www.econbiz.de/10008646428
By constructing and estimating a structural arbitrage-free model of demand pressures on US real rates, we find that …
Persistent link: https://www.econbiz.de/10010790349
Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model, the efficient design of such rules is found to depend on...
Persistent link: https://www.econbiz.de/10010790379
The paper investigates asymmetry in the allocation of aggregate demand shocks between real output growth and price … existence of structural constraints, implying that positive demand shocks feed predominantly into prices while negative demand … shocks mainly affect output. The high variability of aggregate demand in Caribbean countries, frequently exposed to shocks …
Persistent link: https://www.econbiz.de/10010790404
countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and … consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic …-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in …
Persistent link: https://www.econbiz.de/10011142133
Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying...
Persistent link: https://www.econbiz.de/10008777035
Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to take the reader from acquaintance with these...
Persistent link: https://www.econbiz.de/10010681123