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inefective institutions
lack of infrastructure
insufficient competition
reduce reliance in imports
encurage domestic production
supply policies
income policies
imported inflation
cost of foreign goods rises
profit push
businesses raising prices
wage push
increased labour cost
deinflarion
smatphone prices are lowering
infaltion
annual price of a loaf of bread
Core inflation
GDP deflatior
harmonixed indez of consumer prices (HICP)
consumer price index(CPI)
oposite of inflation
rate of increase in prices over a specific time
deliberate actions by the goverment to adjust fiscal policy
managing budget deficit or surpluses
type and level of taxes
volume structure and composiotion of public expenditure
operates counter-clyclical
contractionary periods
rise transfers to families
ex: tasa del paro
expansionary periods
rise of taxes
down goverment transfer payments
down public spenditures
rise taces for house holds and buisnesses to crub more explending
provide incentives to rise exports
Increase public spending
reduce corporate taxes to boost investment
redistribute income and wealth
increase or defrease agregate demand
governments budgetary decisions
debt to GDP ratio
resource allocation
have to pay the interest of the debt in several years
debt issue
limited monetisation
inflows=outflows
revenue> spendings
types
primary deficit
fiscal deficit- interest
fiscal deficit
total expenditures>total revenue - borrowing
revenue deficit
total expenditures> total revenue
spending> revenue
tipos
transfer payments
pensiones
current spending
funcionarios
capital spending
hospitales
lo que gasta un pais
total de ingresos de un pais
tools to affect expectations include
detailed economic and lysis provided by the CB study deparment
advertising
publicizing CB stratefues, goals and decisions
2
persuasion and comunication
instruments are used to shape economic agents' expectations regarding $ trends
less
leads to low leadinf rates
expands funds for lending
more
leads to high leadinf rates
limits fund for lending
cash reserve ratio
increase
more credit costs
less credit availability
reductions
more credit availabilitity
open market operations
sale
more credit cost
contracts the MS
purachase
less credit cost
expand the Monetary supply
the CB uses to invluence financial institutions
advice
comunication
persuation
facilitating or limiting acced to credit by specific measurments
low
borrowing is cheaper
mas money for leanding
high
borrowing becomes more expensive
menos money for lending
increase inreserve ration
down liquidity available for credut
reduction inreserve ration
provide banks with more liquidity to extend credit
purchase of securities
rise of money supply as funds move to comertial banks
monetarists
from the 1970s until 2008
inflation targeting: based on the quantity theory of money
(M x Vt = P x t)
MP actions by the central bank to influenve
oerfectly elastic
productos iguales
elastic
cocacola
unit elastic
LV
inelastic
gasolina
perfectly inelastic
insulina
%quantity changed/price change %
Is when th price of something changes and it variates the quantity of said good sold in the amrket
