INTERNATIONAL MONETARY FUND AND THE WORLD BANK Managing Public Debt: Formulating Strategies and Strengthening Institutional Capacity Prepared by the Staff of the IMF and World Bank Approved by Christopher Towe, Danny Leipziger, and Kenneth Lay March 3, 2009 Contents Page Acronyms...................................................................................................................................3 I. Introduction ....................................................................
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country economy growth when the inflation is baked into the figure of the Nominal GDP.Economics is the use of resources that have alternative uses. Consumers need resources to fulfil desires. The economics has been divided into microeconomics and macroeconomics. Microeconomics is the combination word of ‘micro’ and ‘economics’ that means the study of the small individual unit. Microeconomics is known as how individuals and societies uses the resources to the production of goods and services to satisfy
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WP/04/12 The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work Luis I. Jacome H. © 2004 International Monetary Fund WP/04/12 IMF Working Paper Monetary and Financial Systems Department The Late 1990s Financial Crisis in Ecuador: Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization at Work Prepared by Luis I. Jácome H.1 Authorized for distribution by Mark Swinburne January 2004 Abstract
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Resource: Figure 3-1 in Ch. 3 of Macroeconomics. Part 1 Describe the following terms in your word. Gross domestic product (GDP)- The value of all products and services produced in a country in a certain amount of time (usually yearly) * Real GDP- inflation-adjusted measure that reflects the value of all goods and services produced in a given year, real GDP can account for changes in the price level, so it provides a more accurate figure * Nominal GDP- a (GDP) figure that has
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Aggregate Demand and Supply Evaluate the extent to which an increase in aggregate demand may affect real output, inflation and unemployment. [25] Real output is an abbreviation for Real Gross Domestic Product or (Real GDP) is a macroeconomics measure of the value of economic output adjusted for price changes, this adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Inflation is the increase in general price level over a sustained period of
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Macroeconomic Indicators from 2006-07 to 2011-12 | 2006-07 | 2007-08 | 2008-09 | 2009-10 | 2010-11 | 2011-12 | GDP (in crores) | 3953276 | 4582086 | 5303567 | 6091485 | 7157412 | 8279975 | Growth Rates | 9.6 | 9.3 | 6.7 | 8.4 | 8.4 | 6.9 | GNP (in crores) | 3920042 | 4561574 | 5270644 | 6053585 | 7078512 | 8198276 | Growth Rates | 9.5 | 9.7 | 6.5 | 8.4 | 7.9 | 7.0 | Inflation rates | 6.39 | 8.32 | 10.83 | 12.11 | 8.87 | 9.01 | Exports( rate of change) | 25.3 | 14.7 | 28.2 | 0.6 |
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---------------------------------- ---------------------------------- Trilemma Introduction:- The trilemma refers to the choice of one or two alternatives among three, it is one difficult choice to do, as all three alternatives are of same importance and need. The trilemma which is also known as impossible trinity is defined according to the international standards, which comprehends that there are three conditions which are impossible to have in the same economy. These three conditions are:
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According to the time inconsistency model article published by the 2004 Noble prize winners, Finn Kydland and Edward Prescott (1977), reveals that the use of discretionary monetary policy will lead to equilibrium with an ‘inflation bias’. In order to explain and determine how this fact was reached, we have to first explain what time inconsistency is. Time inconsistency can be referred to as when a law or rule that initially seemed most favourable at one point in time becomes unfavourable later in
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Business Economics GM545 December 7, 2010 Exercise 1 Economists break unemployment down into three distinct varieties - Structural, Frictional, and Seasonal. Structural unemployment is unemployment that comes from there being an absence of demand for the workers that are available. The two major reasons that cause an absence of demand for workers in a particular industry are: 1) Changes in technology, as personal computers replaced typewriters, typewriter factories shut down. Workers in typewriter
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Principles of Econometrics Tips for a Term Paper Topic Your work MUST BE ORIGINAL, but the issue/model/methodology need not! Money/Macro/International Economics Common Approaches 1. Apply a model or law (e.g., Phillips curve, Okun’s law, etc.) to more recent data. 2. Extend what is known for the U.S. to other countries (emerging, developing or Eastern European). Examples: 1. Outsourcing: Do firms that outsource tend to do better? Or why they outsource? 2. Trade deficit: What causes
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