That is, if the change and volatility of crude oil prices have distinct effects on the macroeconomy
, these effects should be related to or even subsumed by Hamilton's modified oil shock measure.
Section 2 presents the aggregate empirical consumer spending equation that underlies the empirical work here and reviews theory about how oil price shocks may affect the macroeconomy
The mere possibility of repeating an episode so destructive warrants policymakers' interest in the behavior of the stock market, even though the link between the stock market and the macroeconomy
may not be well understood.
The optimality of the suggested solution is conditioned on accepting the assumed model structure as true beyond any doubt, a stance that is untenable in light of the ongoing dispute among economists concerning the proper specification of a model for the macroeconomy
This book is an ambitious and intelligent systematic analysis of presidential policies toward the macroeconomy
An upswing in construction spending and in the global macroeconomy
in general will bolster sales in developed country markets for mechanical and structural security products.
If the macroeconomy
is doing well, industrial output tends to be healthy and packaging demand steers a steady course.
Given persistent deflation, which is one of the most significant issues surrounding Japan's macroeconomy
, ''the next few months will be a key period during which the leadership will be severely tested as it grapples with balancing long-term structural reform issues and short-term exigencies.
The ministers will also address the development of the region's macroeconomy
since the Asian crisis, because the U.
The Working Party III doesn't take any decisions, but is a forum in which the representatives of the major countries can sensitize each other to concerns and developments that affect the macroeconomy
, and particularly macroeconomic interactions through balance of payments and so on.
While the New Economy's definition is absurdly simple, the implications of the transition from Old to New are immeasurably profound and reach into every facet of the macroeconomy
and every inch of business as we know it.
Rather than looking at the behavior of the macroeconomy
, Margo and Heim look at pieces of the economy.