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1 discuss the main characteristics of money bonds credit and equitiesstocks in actual nancial markets what is gained
it is now well established that a contractionary monetary shock increases unemployment before reducing ination and that
because monetary shocks have a delayed and gradual impact on ination in essence we experience a credible announced
1 how does the new keynesian model differ from the earlier keynesian decient-demand model how does it differ from the
in the last two decades of the twentieth century many economists believed that keynesian economics give little or even
keynes 1936 argued that from a policy perspective everything that can be achieved by a nominal wage cut can be more
keynes argued that wage stickiness was probably a good thing that wage and price exibility could easily be
j r hicks in the 1937 article in which he proposed the is-lm analysis argued that keyness general theory did not
1 keynes argued that an economy could be in equilibrium with a substantial amount of involuntary unemployment but other
the classical theory dominates the economic thought both practical and theoretical of the governing and academic
start with the neoclassical model and assume that its equilibrium solution is yf nf rlowast plowast suppose a
suppose the central bank pegs the price level by using money supply changes through open market operations present the
from the time of say and ricardo the classical economists have taught us that the supply creates its own demand and
suppose that business pessimism reduces investment such that aggregate demand becomes less than full employment income
a describe a simple xed-price short-run macroeconomic model with exible nominal wages and compare it with a
1 in response to demand shocks short-term quantity adjustments occur earlier than price adjustment at the level of
if the central bank cannot change output and unemployment through systematic money supply changes and its induced
1 what are main tenets of the modern classical school and how do they differ from those of the traditional classical
1 discuss the proposition that a change in the rate of growth of the money supply will not affect output and
1 discuss whether the existence of business cycles and the observed positive correlation between real and monetary
1 for the economy to have a determinate price level and money to have a positive value it is necessary that the economy
one of the banking innovations in the 1960s was the payment of interest on certain types of demand deposits assume that
1 in the preceding question suppose the central bank uses open market operations to aim at the money supply discuss the
assume that the is and money demand equations each have a disturbance term further assume that the central bank can
q 1 study of economic issues of individual unit like an individual consumer firm etc is known