Macroeconomics

of factors(mailmen) work and, especially, capital. There is not border anymore! Brilliant! Emma : They spoke even about financial benefit to the microeconomic and macroeconomic level! At the microeconomic level, the single currency improves the efficiency thanks to the biggest dynamism of markets. Loic : At the macroeconomic level, she(it) contributes to promote the price stability ( low(weak) interest rates) and the growth. The introduction of a single currency in all the countries allows

“Income Uncertainty and Household Savings in China,” IMF Working Paper 10/289 (Washington: International Monetary Fund). Chamon, Marcos, and Eswar Prasad, 2010, “Why Are Saving Rates of Urban Households in China Rising?” American Economic Journal: Macroeconomics, Vol. 2, No. 1, p. 93–130. Guo, Kai, and Papa N’Diaye, 2010, “Determinants of China’s Private Consumption: An International Perspective,” IMF Working Paper 10/93 (Washington: International Monetary Fund). Nabar, Malhar, 2011, “Targets, Interest

Competitiveness is a common concept yet not well defined as far as macroeconomics are concerned. The current account balance is an outcome of competitiveness and not a measurement ; in addition it depends on the general macroeconomic equilibrium and not only on competitiveness. A definition of competitiveness is suggested. Then a very simple model is used to isolate a few parameters that can be a measure of competitiveness. Next, the macroeconomic strategy of competitiveness is defined. Attention is paid

Mankiw, « A quick refresher course in macroeconomics », Journal of economic literature, Vol 28, No. 4 (1990). L’auteur explique que la macroéconomie a beaucoup évolué ces 20 dernières années, mais que ces changements théoriques n’ont pas eu d’impact sur la macroéconomie appliquée. En effet, le modèle IS-LM augmenté de la courbe de Phillips reste le plus utilisé dans la presse et par les dirigeants pour interpréter les questions de politique économique. Le fait que les évolutions des modèles soient

on some popular economics-oriented blogs.[42][43] The note was soon being cited in papers (draft and published) by other economists,[44][45][46][47][48][49][50][51] even though it had not itself been through ordinary peer review processes. Macroeconomics and fiscal policy Krugman has done much to revive discussion of the liquidity trap as a topic in economics.[52][53][54][55] He recommended aggressive fiscal policy to counter Japan's lost decade in the 1990s, arguing that the country was mired

This Draft: December 5, 2008 First Draft: October 9, 2007 Abstract Using loan-level data, we analyze the quality of subprime mortgage loans by adjusting their performance for differences in borrower characteristics, loan characteristics, and macroeconomic conditions. We find that the quality of loans deteriorated for six consecutive years before the crisis and that securitizers were, to some extent, aware of it. We provide evidence that the rise and fall of the subprime mortgage market follows a

V. REFERENCES Akerlof, George, and Paul Romer (1993). Looting the economic underworld of bankruptcy for profit. Brookings Papers on Economic Activity, 2: 1–73. Alesina, Alberto, and Lawrence Summers (1993). Central Bank independence and macroeconomic performance: Some comparative evidence. Journal of Money, Credit and Banking, 25/2: 151–162. Levine, Ross, and David Renelt (1992). A sensitivity analysis of cross-country growth regressions. American Economic Review , 942–963. —— and Sara Zervos

of International Macroeconomics, Cambridge (MA), London 1996. 42OLIVIER Jean Blanchard and Stanley FISCHER (1992), Lectures on Macroeconomics, The MIT Press, Cambridge, Massachusetts. 43RAUSHER, M., 2001, International Trade, Forteign Investment and the Environment. Rostock: Thünen Working Paper Nr. 29. 44RICARDO David (1817), The Principles of Political Economy and Taxation, London: J.M. Dent § Sons LTD. (Reprint). 45TAYLOR J. and Michael WOODFORD (ed.), handbook of Macroeconomics, T.1C, Amsterdam

REFERENCES Akerlof, George, and Paul Romer (1993). Looting the economic underworld of bankruptcy for profit. Brookings Papers on Economic Activity, 2: 1–73. Alesina, Alberto, and Lawrence Summers (1993). Central Bank independence and macroeconomic performance: Some comparative evidence. Journal of Money, Credit and Banking, 25/2: 151–162. Levine, Ross, and David Renelt (1992). A sensitivity analysis of cross-country growth regressions. American Economic Review , 942–963. —— and Sara

Economic Growth and Fluctuations Lecture 2: The Basic Solow Model Chapter 3 Introducing Advanced Macroeconomics: Growth and business cycles CAPITAL ACCUMULATION AND GROWTH: THE BASIC SOLOW MODEL 2 Lecture 2 THE BASIC SOLOW MODEL • • How can a nation become rich, i.e., initiate a growth process leading to higher GDP/consumption per capita in the long run? The basic Solow model provides some first answers: It predicts how the evolution and the long-run levels of GDP and consumption