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Is Greece Turning the Corner? A Theory-Based Assessment of Recent Greek Macro-Policy

Arghyrou, Michael G. - CESifo - 2014

crisis. The latter is mainly the result of misguided past internal policies deviating from the policy lessons of modern … macroeconomics. The current policy, however, provides a credible platform for sustainable growth. Greece has entered the process of …-se determining growth, supply-side reforms and institutional performance are; and for Greece both are better served within the EMU …

Persistent link: https://www.econbiz.de/10010948838

Is Greece turning the corner? A theory-based assessment of recent Greek macro-policy

Arghyrou, Michael - Economics Section, Cardiff Business School - 2014

, but this is still fragile and exposed to risks. Overall, we support the continued participation of Greece to the euro … Greek debt crisis. We argue that this is mainly the result of misguided past internal policies deviating substantially from … a credible platform for achieving sustainable growth. We argue that Greece has entered the process of economic recovery …

Persistent link: https://www.econbiz.de/10010903782

The Consumption Function

Heim, John J. - Department of Economics, Rensselaer Polytechnic Institute - 2008

Keynes held that it was mainly current income that determined the demand for consumer goods and services. He also suggested wealth, interest rates, and taxes may have smaller effects. Later theories by Modigliani and Friedman, based on long term average income as the income variable determining...

Persistent link: https://www.econbiz.de/10005417050

A MethodFor Separating Iincome & Substitution Effects Of Exchange Rate Changes On Aggregate Demand

Heim, John J. - Department of Economics, Rensselaer Polytechnic Institute - 2009

Regression estimates of exchange rate total effects on aggregate demand are broken into separate income and substitution effects. Total effects estimates can seem contrary to theory. Separating them into their two components shows this is not the case. The separation method also provides a...

Persistent link: https://www.econbiz.de/10005417054

Privatizing Russia

Boycko, Maxim; Shleifer, Andrei; Vishny, Robert W. - The MIT Press

Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising...

Persistent link: https://www.econbiz.de/10011097641

Development of System Dynamic Model of Latvia’s Economic Integration in the EU

Skribans, Valerijs - Volkswirtschaftliche Fakultät, … - 2011

Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. Latvia's incoming in EU increased the amount of received means from structural...

Persistent link: https://www.econbiz.de/10009367975

Introducing Financial Frictions and Unemployment into a Small Open Economy Model

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - Sveriges Riksbank - 2007

Which are the main frictions and driving forces of business cycle dynamics in a small open economy? To answer this question we extend what is becoming the standard new Keynesian model in three dimensions. First, we incorporate frictions in the financing of the capital stock. Second, we model...

Persistent link: https://www.econbiz.de/10005034154

Does A Strong Dollar Increase Demand For Both Domestic And Imported Goods?

Heim, John J. - Department of Economics, Rensselaer Polytechnic Institute - 2007

Rising exchange rates strengthen the dollar and lower prices on imported consumer goods. Lower import prices have two effects. (1) A substitution effect that shifts demand from domestically produced goods to imports. (2) An income effect that increases demand for imports even further. However,...

Persistent link: https://www.econbiz.de/10005767658

How Falling Exchange Rates 2000-2007 Have Affected the U.S. Economy and Trade Deficit (Evaluated Using the Federal Reserve's G-10 Exchange Rate)

Heim, John J. - Department of Economics, Rensselaer Polytechnic Institute - 2008

Falling exchange rates reduce the purchasing power of the dollar, increasing import prices. Higher import prices have two effects. (1) A substitution effect that shifts demand from imported to domestically produced goods. (2) An income effect that reduces the total amount of real income...

Persistent link: https://www.econbiz.de/10005636310

Do Falling Import Prices Increase Market Demand for Domestically Produced Consumer Goods?

Heim, John J. - Department of Economics, Rensselaer Polytechnic Institute - 2007

Rising exchange rates can lower prices on imported consumer goods. The lower prices have two effects. A substitution effect shifts in demand from domestically produced goods to imports. An income effect also allows more import purchases. It also allows some income previously spent on imports to...

Persistent link: https://www.econbiz.de/10005636312