Macroeconomics an der Freie Universität Berlin | Karteikarten & Zusammenfassungen

# Lernmaterialien für Macroeconomics an der Freie Universität Berlin

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TESTE DEIN WISSEN
A Dynamic Model of Economic Fluctuations
Lösung anzeigen
TESTE DEIN WISSEN
To derive the Dynamic Aggregate Demand curve, you have to combine the supply curve with the Fisher equation, the expectations equation and the Phillips curve
Lösung ausblenden
TESTE DEIN WISSEN
Describe in words how the Dynamic Aggregate Demand and Dynamic Aggregate Supply curves would look like if |o changes from 0.5 to 2.

Lösung anzeigen
TESTE DEIN WISSEN
Phi represents the slope of the dynamic aggregate supply curve.
• It makes the response of the Central Bank much stronger
• (i falls quicker)
• inflation would remain the same in t=0, but will fall quicker on t=1...t=final
• r also response stronger
• Shorter lived increasing inflation and stronger negative reaction after the increase in i

Lösung ausblenden
TESTE DEIN WISSEN
What is u^n?
Lösung anzeigen
TESTE DEIN WISSEN
Natural rate of unemployment:
Is the rate at which the inflation rate does not deviate from the expected inflation rate
Lösung ausblenden
TESTE DEIN WISSEN
Sacrifice ratio
Lösung anzeigen
TESTE DEIN WISSEN
_ p.p. Sacrifice in GDP to decrease inflation by _ p.p.

change in GDP/ change in inflation
Lösung ausblenden
TESTE DEIN WISSEN
Lösung anzeigen
TESTE DEIN WISSEN
The real interest rate is always smaller than the nominal interest rate
Lösung ausblenden
TESTE DEIN WISSEN
A Demand Shock raises inflation and output.
Lösung anzeigen
TESTE DEIN WISSEN
• Fight inflation?
Raise the response of the nominal interest rate (theta_pi)

(if we raise i, then r increases which means that consume and investment decrease and savings increase, this decrease output that followed for the Phillips curve will decrease inflation)
All happens at the same time t=0.
Lösung ausblenden
TESTE DEIN WISSEN
In a small open economy with a fixed exchange rate, an effective policy to increase equilibrium output is to:
Lösung anzeigen
TESTE DEIN WISSEN
decrease government spending
Lösung ausblenden
TESTE DEIN WISSEN
In the following Phillips curve

π=π[previos] - 0.5 (u-0.05)

- What would be the natural rate of unemployment?
Lösung anzeigen
TESTE DEIN WISSEN
5%
Lösung ausblenden
TESTE DEIN WISSEN
Are there practical difficulties that a central bank might face if p(t=0) varied over time?
Lösung anzeigen
TESTE DEIN WISSEN
It would make the setting of monetary policy more difficult.
Lösung ausblenden
TESTE DEIN WISSEN
Alternative Perspectives on Stabilization Policy 3p
Lösung anzeigen
TESTE DEIN WISSEN
Lösung ausblenden
TESTE DEIN WISSEN
The Solow Model with population growth
Lösung anzeigen
TESTE DEIN WISSEN
An increase in the rate of depreciation causes a decrease in break-even investment and increases the steady state level of capital per worker
Lösung ausblenden
TESTE DEIN WISSEN
Solow Model
Lösung anzeigen
TESTE DEIN WISSEN
Balanced growth means that the key variables in the economy do not grow in the short run, only in the long run.
Lösung ausblenden
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## Beispielhafte Karteikarten für deinen Macroeconomics Kurs an der Freie Universität Berlin - von Kommilitonen auf StudySmarter erstellt!

Q:
A Dynamic Model of Economic Fluctuations
A:
To derive the Dynamic Aggregate Demand curve, you have to combine the supply curve with the Fisher equation, the expectations equation and the Phillips curve
Q:
Describe in words how the Dynamic Aggregate Demand and Dynamic Aggregate Supply curves would look like if |o changes from 0.5 to 2.

A:
Phi represents the slope of the dynamic aggregate supply curve.
• It makes the response of the Central Bank much stronger
• (i falls quicker)
• inflation would remain the same in t=0, but will fall quicker on t=1...t=final
• r also response stronger
• Shorter lived increasing inflation and stronger negative reaction after the increase in i

Q:
What is u^n?
A:
Natural rate of unemployment:
Is the rate at which the inflation rate does not deviate from the expected inflation rate
Q:
Sacrifice ratio
A:
_ p.p. Sacrifice in GDP to decrease inflation by _ p.p.

change in GDP/ change in inflation
Q:
A:
The real interest rate is always smaller than the nominal interest rate
Q:
A Demand Shock raises inflation and output.
A:
• Fight inflation?
Raise the response of the nominal interest rate (theta_pi)

(if we raise i, then r increases which means that consume and investment decrease and savings increase, this decrease output that followed for the Phillips curve will decrease inflation)
All happens at the same time t=0.
Q:
In a small open economy with a fixed exchange rate, an effective policy to increase equilibrium output is to:
A:
decrease government spending
Q:
In the following Phillips curve

π=π[previos] - 0.5 (u-0.05)

- What would be the natural rate of unemployment?
A:
5%
Q:
Are there practical difficulties that a central bank might face if p(t=0) varied over time?
A:
It would make the setting of monetary policy more difficult.
Q:
Alternative Perspectives on Stabilization Policy 3p
A:
Q:
The Solow Model with population growth
A:
An increase in the rate of depreciation causes a decrease in break-even investment and increases the steady state level of capital per worker
Q:
Solow Model
A:
Balanced growth means that the key variables in the economy do not grow in the short run, only in the long run.

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