Monetary policymakers and central banks universally recognize that, in the long run, inflation is strictly determined by monetary policy. However, they disagree sharply about the role of monetary aggregates in the conduct of monetary policy. These differences in views are reflected in the way the Federal Reserve and the European Central Bank (ECB) conduct monetary policy and communicate with the public. At the Federal Reserve, the Federal Open Market Committee no longer specifies targets or monitoring ranges for the monetary aggregates, and committee members seldom mention the aggregates in their deliberations. In contrast, the ECB regularly examines the implications of money growth for the inflation outlook over the medium term to long term. What accounts for these differences of views...
...-meaning planners manipulating economic aggregates such as demand and employment can bring about a ha...
The importance of the common features in macroeconomics particularly in real business cycle studies is by now widely understood and manifests itself in numerous studies. On the other hand, there has been very few works related to developing countries. This paper attempts to fill this gap, at least to some extent, by using quarterly observations on major macroeconomic aggregates, namely consumption, investment and output in Turkey to investigate both the stylized facts and the common features. The methodology is based on the multivariate structural time series which allows explicit representation and estimation of the components of economic time series such as trend, slope, cycle and irregular. Empirical results indicate that these aggregates do not share a common cycle; however, a commo...
Entrepreneurship and the development of new business continue to be the forefront of socioeconomic development in virtually all economies today. Despite evidence of increasing research into entrepreneurial growth, the existing research is limited by the fact that most studies define entrepreneurial growth as a unidimensional construct and operationalize it as "realized" growth relying on financially based measures. Consequently, this article has two objectives: (1) to develop a set of accurate and comprehensive entrepreneurial growth measures; and (2) to test a series of hypotheses regarding precursors of growth intentions-more specifically, to what extent, infrastructure factors affect entrepreneurial growth intentions. These two questions were examined using Entrepreneurial Profile Qu...
... have become keenly aware of the economic development benefits that are derived from the est... of attitude as it is of economic aggregates (Fox 1996), little evidence exists supporting eith...
Economists have become increasingly interested in the rules for monetary policy as economic analysts and central bankers try to evade a biased inflation caused by certain legislative activities and recognize the ability of rule-based approaches in adapting activist reactions to changes. Certain economic analysts believe that traditional monetary aggregates are the most appropriate instruments of nominal Gross National Product while others prefer direct price level targeting.
..., Anchorage, AK 99515 construction aggregates, Phone: 907-344-2593 Fax: 907-522-1270 recycled ba... Mary Killorin Institute of Social and Economic Research University of Alaska Anchorage, www.agcak...
...Third Consecutive Quarter of Aggregates Pricing Growth . Specialty Products Posts Quarterl... as we all work through the prolonged economic downturn. Our disciplined business approach is onc...
Heritage Aggregates Volume Up 14% for the Quarter; . Specialty Product... position us for strong performance in an economic recovery. Capital expenditures of $135.9 million f...
... achieve the goal of price stability and economic stability. The rule incorporated what we learned f... legislation relating to the monetary aggregates. Such legislation includes House Concurrent Resolu...
... have suppressed practical discourse, and economic and social "systems" objectify human subjects in a...Hayek regards both the economic aggregates of Keynesianism and the mathematical models of eco...
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