The Triangular Phillips Curve Model Essay - 2275 Words

The triangular Phillips Curve which was proposed by Gordon (1996) states that the factors cause inflation can be summarized as demand pull, cost push and inflation inertia. Similarly, Gal and Gertler (1999) construct the a kind of hybrid New Keynesian Phillips Curve model and claim that the main factors that affect inflation are the excess aggregate demand, inflation expectation and inflation inertia. In reality, the determinants of inflation are very complex, and the most common four mechanisms of production are stated as follows: 1) Demand pull type. Excessive growth in aggregate demand leads to too much money chasing too few goods. 2) Cost push type. The inflation is caused by the increase in the cost of production and the general level of the price rise. 3)Inflation inertia, that is, once the inflation formed, it will continue for a period of time. 4) Expectation of inflation. Economic activity participants can make a judgment and estimate on the future trend of inflation to get the formation of inflation expectations, which lead to the current increase in the price level. In the paper of Batini et.al. (2005), the theoretical and empirical relationship between the share of labour and inflation in the U.K. was explored, which based on the theory of Cobb–Douglas the New Keynesian Phillips Curve (NKPC). The labour share was examined to be as a useful indicator on measuring the inflationary pressures of the U.K. There was a stable relationship between the informationShow MoreRelatedThe Researches About The Causes Of Inflation Essay2290 Words   |  10 Pages2.3 The researches about the causes of inflation 2.3.1 The theoretical explains of inflation causes The triangular Phillips Curve which was proposed by Gordon (1996) states that the factors cause inflation can be summarized as demand pull, cost push and inflation inertia. Similarly, Gal and Gertler (1999) construct the a kind of hybrid New Keynesian Phillips Curve model and claim that the main factors that affect inflation are the excess aggregate demand, inflation expectation and inflation inertiaRead MoreInflation Is An Important Issue For Both Monetary Policy Makers And The Phillips Curve By John M. Roberts3648 Words   |  15 Pagesarguments that some model of pricing fail to explain the persistence. This paper summarizes two papers: inflation persistence by Jeff Fuhrer and George Moore and New Keynesian Economics and the Phillips Curve by John M. Roberts. We are going to follow the idea of Roberts (1995) and use the model in â€Å"Monetary Theory and Policy† second edition written by Carl E. Walsh. Section 1 gives the reason why inflation persistence is important. And also briefly introduce three different models that are summarizedRead MoreThree Principles Describe How Economy as a Whole Works11284 Words   |  46 Pagesimpact on the market price. 2. Here is an example of a monthly demand schedule for pizza: Price of Pizza Slice $0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 Number of Pizza Slices Demanded 10 9 8 7 6 5 4 3 2 1 0 another along the same demand curve. 3. Here is an example of a monthly supply schedule for pizza: Price of Pizza Slice $0.00 0.25 0.50 0.75 1.00 1.25 1.50 1.75 2.00 2.25 2.50 Number of Pizza Slices Supplied 0 100 200 300 400 500 600 700 800 900 1000 Coconuts Gathered Figure 1 2. Crusoe’sRead MoreLenovo and Ibm23938 Words   |  96 Pageslicensing, a firm that enters into a joint venture may risk giving control of its technology or competitive advantage to its partner. Second, the venture does not give a firm the tight control over subsidiaries that it might need to realize experience curve or location economies, nor does the tight control over a foreign subsidiary that it might need for engaging in coordinated global attacks to its rivals. Third, the shared ownership arrangement may lead to conflicts and battles for control between concerned

Is Yersinia Pestis A Bacterial Infection Responsible For...

Yersinia Pestis is a bacterial infection responsible for the deaths of millions of people starting in the 1300’s and still continues to infect people to this day. This bacterial strain is the basis of three very serious and potentially fatal diseases: the Bubonic plague, the Pneumonic Plague, and the septicemic Plague. The difference between the plagues is primarily the location of the infection but the symptoms also vary as well. The bubonic plague attacks the Lymphatic system whereas the Pneumonic plague focuses the respiratory system and the Septicemic plague targets the blood stream. Although the plagues alter in symptoms and means of infection, they all relate and depend on each other in some way. The bubonic plague was the largest epidemic and owes it’s success to the collaboration of the three variations, Yersinia Pestis was introduced to humans through the Bubonic version but wouldn’t have spread nearly as much if it weren’t for the airborne effect s of the Pneumonic version which can infect humans without the means of other organisms such as fleas. The Bubonic Plague (also known as the black death) is the most common of the three and first arrived in Europe in 1347, it would eventually kill millions people, totaling nearly a third of the continents population. The disease was first recorded in central Asia in 1338 and spread to the south and east by early 1346, making easy headway by hitchhiking through travelers and merchants traversing trade routes across both landShow MoreRelatedDeath by the Black Plague1017 Words   |  4 Pagesaround 80-200 million people mostly throughout Europe, leaving most people back then wondering how they and others got sick and died. â€Å"Evidence available from rural continental Europe suggests a slow spread of human mortality across trade and travel routes, patterns consistent† (Carmichael 3), until after multiple inventions such as printing, word spread of this murderer, preventing more deaths and to treat those affected. This disease is known throughout the world as the Black Death and still lingersRead MoreThe Late Middle Ages Essay1713 Words   |  7 Pagesinsatiable territorial appetites and religious fanaticism contributed greatly to create instability and war among the people. However, one of the greatest villain during this period was an undetectable foe, named Yersinia Pestis. This bacterium was responsible for the horrific Black Death, which ravaged Europe, Asia, and Africa in the 14th century, killing over 50 million people. In urban centers like Paris and Hamburg, 50% to 60% of the residents perished. All this happened in the middle of theRead MoreConcerns of Bioterrorism2788 Words   |  11 PagesUS/Guam What is Bioterrorism? What are the types of Bioterrorism? What issues or concerns should we be aware of when talking about Bioterrorism? How is Bioterrorism different from the United States and that of Guam? These are some of the things people would think of and wonder when they hear the word Bioterrorism. It’s important to know the different steps or precautions that a person can look into in order to prevent themselves from being a victim of Bioterrorism. First things first, Bioterrorism

A Dolls House assignment Essay Example For Students

A Dolls House assignment Essay How does Henrik Ibsen use stereotype in A Dolls House to challenge our pre-conception of gender roles within marriage? Should relate to bot present day and the time in which the play was set in.  In todays world, the stereotypical roles that males and females play in their marriages are very different from the time the play A Dolls House was set in. The play reflected the English society in the mid 19th century. Ibsen portrayed Torvald as the stereotypical husband in those times. He was the leader and the breadwinner of the family. He was dominating, patronizing and always treated Nora with sarcasm. Similarly, Nora was portrayed as a stereotypical wife. Her character was made up of naivete. She was submissive and dependent on her husband. Their relationship was affectionate but displayed inequality between the gender and this could be expected of in those times. In the first act of the play, Ibsen showed the exposition which is the introduction of the play and its characters where nothing much happens. He depicted a common family of those times and showed that the woman of the house did not give much opinion or independence or strength. He showed that Torvald was in charge of the money he earned and Nora told him how she spent the money he had given her. Torvald treated her like an inexperienced child and told her that she was a spendthrift. Moreover, she was even restricted by him to eat macaroons and this proved that she was not able to do according to her own wills but had to obey her husband. However, the climax of the play showed that Nora violated the rules of the social norms of the time by borrowing money from another man and keeping the fact hidden from her husband, even though it was to save her husband from dying. This shows that Nora is not as naive as she was shown to be but lets her husband think that he has the power. She realized that what she had done was wrong and her husband would not approve of it. This was because Torvald did not like in borrowing money because it leads to debt. Yet, Krogstad complicated the situation even more by proving as a threat to this secret as he was the loaner of the money who decided that if Torvald did not keep his job, he would be exposed Noras secret. This begins the challenge of the stereotype of gender roles within marriage showed by Ibsen. He showed that such a situation, where a wife disobeyed her husband, was not normal in those times. By the third act, when Krogstad put a letter revealing Nora of her secret about the loan from Torvald, Nora was shown in a calmer way. Although trapped, she hoped wonderful thing was going to happen when Torvald comes to know the truth. She expected Torvald to accept Krogstads conditions and take the blame onto himself and forgive Nora and thereby sacrificing his honour for his loved one. In contrast to her hopes and expectations Torvald was not courageous enough for the sacrifice. The wonderful thing did not happen and Nora was shattered. She could not accept the fact that her husband could not sacrifice for her and walked away from his life and this was absolutely against the stereotypical relationship within a marriage life in the time of the play. The challenge Ibsen set here showed the unusual roles played by Nora and Torvald as husband and wife. Nora was displayed as being more independent, matured, strong and confident. On the other hand, Torvald shows a sign of weakness, hopelessness and helplessness. Ibsen opposed the stereotypical way even more by showing that Nora walks out on Torvald. This is a very unusual act to be taken up by women in those days as in the societies, women were still regarded as the weak or inferior gender of the two and do not generally take up such acts as they are believed to be weak, naive and dependent. The other anomaly is Torvald who, although, is supposed to belong to the superior sex loses in the end and is absolutely powerless to the point that he had to plead Nora to stay with him. .u6a58258233fe8ce12e5b5c1143a09b4c , .u6a58258233fe8ce12e5b5c1143a09b4c .postImageUrl , .u6a58258233fe8ce12e5b5c1143a09b4c .centered-text-area { min-height: 80px; position: relative; } .u6a58258233fe8ce12e5b5c1143a09b4c , .u6a58258233fe8ce12e5b5c1143a09b4c:hover , .u6a58258233fe8ce12e5b5c1143a09b4c:visited , .u6a58258233fe8ce12e5b5c1143a09b4c:active { border:0!important; } .u6a58258233fe8ce12e5b5c1143a09b4c .clearfix:after { content: ""; display: table; clear: both; } .u6a58258233fe8ce12e5b5c1143a09b4c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u6a58258233fe8ce12e5b5c1143a09b4c:active , .u6a58258233fe8ce12e5b5c1143a09b4c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u6a58258233fe8ce12e5b5c1143a09b4c .centered-text-area { width: 100%; position: relative ; } .u6a58258233fe8ce12e5b5c1143a09b4c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u6a58258233fe8ce12e5b5c1143a09b4c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u6a58258233fe8ce12e5b5c1143a09b4c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u6a58258233fe8ce12e5b5c1143a09b4c:hover .ctaButton { background-color: #34495E!important; } .u6a58258233fe8ce12e5b5c1143a09b4c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u6a58258233fe8ce12e5b5c1143a09b4c .u6a58258233fe8ce12e5b5c1143a09b4c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u6a58258233fe8ce12e5b5c1143a09b4c:after { content: ""; display: block; clear: both; } READ: Research Investigation on Domestic Tragedy EssayHowever, in todays world, the gender roles played within the marriage are absolutely contrasting to those mentioned above. A stereotypical wife does not have to play the dependent and obedient role and the husband does not necessarily have to play the role of a dominating person of the family. Both the genders play equal part in the upbringing of the family. Both of them can work, earn and be the owner of their own lives without having to obey one another. Furthermore, divorce has become a more common issue in todays world and this was not the case in the time A Dolls House was set.

Oil gas free essay sample

The economy is affected by many factors that determine if it is strong or weak. These factors have to do with buyers consuming goods and services and at what rate they do this. Do the goods and services that are consumed by people created wealth, jobs and a better overall economy for a country. Throughout history some economies have evolved faster and stronger than others. Policies that the government places on industry, technology and the environment can all affect the prosperity of an economy. Of the factors that affect economic growth the industry of Oil and gas is one that holds a stronghold in the worlds and Americas economy today. When evaluating the economic growth factor of economy and specifically oil and gas on must consider the following questions:  ¨ What relationship does the factor have with the whole economy?  ¨ How does this factor affect economic growth  ¨ Is the factor a cause or effect of economic growth?  ¨ what would the economy be like if there were significant problems with this factor?  ¨ What relation does a central bank have to this factor? I will answer each of these questions in respect to how economy is affected by oil and gas. We will write a custom essay sample on Oil gas or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The economy in the United States today is greatly affected by oil and gas. When there are large reserves and an increase of active drills in respect to oil, the economy seems to receive a boost. This is because prices for such things like gas and oil fall and people are able to consume more gas at a lower price. There is more supply and prices fall, therefore people save money on gas and can consume other items in the economy. People working in these industries have more job openings and more jobs filled, therefore creating a lower unemployment rate and a higher national per capita income. The need for substitutes are not there so, consumers will consume oil and gas at a growing rate. Since, people use oil and gas for so many different things like heating there homes, driving their cars, and a variety of other sources, the overall GNP for the consumer will rise. Economic growth is affected through significant fluctuations in inflation of oil and gas. If you look throughout history when there have been fluctuations in gas and oil prices you have vast fluctuations in the economy of our country. The instability of this factor has cause government regulation to come into play in times of crisis. For example during the mid-seventies we had the oil and  gas shortage due to the Middle East cutting off supply to Importers of their oil. By doing this, they caused a shortage in a lot of countries creating rising oil prices and high demand. Consumers could not rely on the oil prices to be stable, therefore they consumed less of other products due to the inflation of gas prices and more of their dollar began to be spent on gas. Americans particularly started to come up with more efficient means of using and consuming gas over the past 25 years. Oil and gas is a resource that can be used up if not conserved properly. That is why OPEC was formed, as well as organizations such as NAFTA to help regulate trade of these commodities and bring organization to a disorganized status. In addition, governments like the United States impose taxes on gas to regulated the prices in order to ward off against supplies of oil affecting the nations economy. This only works to an extent, in the early to mid-eighties one states economy lived and died by the supply of oil. That state was Texas. When Texass oil rigs began to dry up, their economy went into a recession. Their reliance on the oil supply as their main revenue producer caused a lot of people to lose their jobs and demand and consumption for other products fell as well. This caused a spiraling effect which caused people from all industries to lose their jobs. Texass economy suffered and so did parts of the American economy with High inflation and high debt which caused the economy to suffer. Increased regulation and diversification of a countrys resources can stop this from being the case. Countries representing OPEC all live and die by the constant production of oil. While this factor is used to stimulate their countries economic growth, it should be used to stimulate the building of a countrys infrastructure. Oil-rich countries should use the positive affect oil has had on their countries to build strong governments and consumer demand for other goods. This powerful infrastructure that could be built will give the economy stability and allow for a countrys GNP to grow in a slow, steady, and positive way. The building of a strong middle-class will allow for countrys to prosper for many years to come. Instead what has happened is that economies of these countries are in a state of flux. What I mean by this is that their economies are very unpredictable and unstable and their reliance on oil has made the disparity between the rich and the poor a gap that becomes too large to overcome. One prime example of this is Brazil, Brazil has large  reserves of oil in a very large country. Brazil is a developing nation and is very unstable when it comes to central governments. In the 70s and 80s Brazil made large amounts of oil from its reserves. Instead of investing the money made (from exporting oil) into their countries future, the leaders of that country used the money to make themselves rich and left the country in political and economic disarray. The middle class of Brazil became almost non-existent and their seem to be but two classes in that country. Those classes were the extremely rich and the extremely poor. The lack of infrastructure and consumer confidence in the economy due to the mishandling of oil profits lead to many political assassinations and increased crime rates throughout the country. It has taken and will continue to take Brazil years and years to recover from these economic crisiss , which all could have been avoided had Brazils government invested in its future. It is definitely true that an economy of a country can be vastly affected by the demand, consumption, and supply of oil. The affect that good supplies of oil has on a countrys economy is one that can only be measured in the sense that it is inevitable that they will be affected. As long as we drive cars that are fueled by gas and we use heat in the winter time, oil will always be a strong factor in determining the growth of a countries economy. In the United States, we have the strong infrastructure to adapt to problems that the instability of both the supply and demand of oil will cause. Countries need to look within themselves for managed growth in order to steady their economies if oil is what sparks their economy. A strong central bank and government will allow for funds to be invested in supporting the economy, the oil business, and consumerism. Once the infrastructure is set the shear reliance on oil will not be a factor, because the countrys economy will be able to handle the affect. When the day comes that oil wells ran dry and substitutes are needed the countries that will survive will be the ones that have braced themselves for the effect that this will have on their economy. Then these countries will adapt and overcome. Oil and gas should be used as helper of a countrys economy and not the passion by which it is run. The production of great income for a country and a higher GNP that oil production is something that should be able to benefit them for many years to come. If you look at the United States as a model you will see a country that handles oil with precision. When the oil industry is in a downturn, the  government can step in and regulate taxes and stimulate investment by having the central bank pump in funds that would not otherwise be used. When the oil industry is doing fine, the government can sit back and reap the prosperity of increases in employment and a rise in demand for oil. The prices will be lower for gas and oil, which means consumption will be up and the economy will be up too. Countries around the world can learn how to handle oil to the extent that it creates an agenda that the benefits far outweigh the costs. We know that oil and gas affects the economy and that it easily regulated by strong central government and bank. The infrastructure must be built up to manage growth. The leaders of the country should be committed to the development of the oil industry. Finally the consumers should be aware of how their role in the consumption of oil will affect the economy as a whole. When all parties are aware and committed to the prosperity of their country and to the industry then the consumption, supply, demand, profits, losses, and investment towards oil will be a mutually beneficial one for the country and its people.