External capital inflow on a massive scale into the emerging market economies is a very significant phenomenon of recent years. Making distinctions between direct investment, real and financial, and portfolio investment and incorporating crowding in or crowding out effects we derive some results about the impact of higher inflow on output, investment and the exchange rare. A formula is suggeste...

Say’s Law maintains that there can never be a superabundance of all goods (if any good were available in greater supply than needed, such as water or air, it would no longer an economic at all) and if is excess some items are still goods, will matched with insufficiency others. The reputation Keynes (1936) was made part on the basis supposed refutation Law. This paper attempts to probe irration...

US federal transfers to individuals are large, countercyclical, vary geographically, and often credited with helping stabilize regional economies. This paper estimates the short-run effects of these using plausibly exogenous variation in temporary stimulus payments permanent Social Security benefit increases. States that received larger tended grow faster contemporaneously, a multiplier around ...

abstract in this paper, the effect of foreign sector macro-variable on inflation dynamics and firms’ pricing behavior has been investigated in the context of a small open economy new keynesian phillips curve. this curve is derived and estimated for a developing oil-exporting economy suffering from dutch disease. this version of nkpc is an extension of leith and malley’s (2007) small open econom...

Given the unforeseen and uncertain circumstances during pandemic, role of government expenditure becomes extremely relevant in sustaining lives livelihoods masses. This brings forth public sector deficit as a key issue macroeconomic policy debate. article aims at investigating effects an unanticipated adverse shock like COVID-19, on real value debt, small open economy, consisting traded non-tra...

We consider a dynamic macroeconomic model with households that regard relative affluence as social status. The measure of relative affluence can be the ratio to, or the difference from, the social average. The two specifications lead to quite different results: with the ratio specification full employment is necessarily realized, whereas with the difference specification persistent shortages of...