The Rate of Return on Everything, 1870-2015. NBER Working Paper 24112.Jorda, O., Knoll, K., Kuvshinov, D., Schularick, M., and Taylor, A.M. (2017). The Rate of Return on Everything, 18702015. National Bureau of Economic Research Working Paper w24112...
*出自旧金山联邦储备银行The Rate of Return on Everything, 1870–2015。 在个人的长期投资中,哪类资产,更具有投资价值。经常有人会问到这个问题。在回答这个问题之前,让我们先分析并记住上面这张图,这很重要。 绿色的实线是实际的GDP增长率,虚线是实际的财富回报率,注意这里的财富回报率和GDP增长率都是剔除通胀...
I would argue, as have many others, that monetary policy played a key role in reducing not only the average rate of inflation, but also the volatility of inflation.[7] Inflation-targeting monetary policy can plausibly influence the variance of inflation through several channels. For example, in...
The Rate of Return on Everything, 1870–2015 This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in... Oscar Jorda,K Knoll,D Kuvshinov,... - 《Nber Working Papers》 被引量: 56发表: 2017年...
stance of policy is restrictive, meaning that tight policy is putting downward pressure on economic activity and inflation, and the full effects of our tightening have yet to be felt. Today, we decided to leave our policy interest rate unchanged and to continue to reduce our securities holdings...
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The time has come for policy to adjust.The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks. 现在是政策调整的时候了。前进的方向是明确的,降息的时机和步伐将取决于即将到来的数据、不断变化的前景以...
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Finch looked at her with a mixture of pride and worry. “If you truly want to help, you’ll need to learn everything I can teach you—and be ready for what’s to come.” Key Words: unsettling - 令人不安的 hesitat...
Marketing is everything a company does to acquire customers andmaintain a relationshipwith them. It is not an exact science, but it is getting better. The biggest questions companies have about their marketing campaigns entail whatreturn on investment(ROI) they're getting for the money they spend...