The aggregate economic data points to a continuing recovery, even if it is an uneven recovery.
"While no causality can be inferred, this is aligned with the view that self-made wealth is more likely to be associated with aggregate economic dynamism, " they argue.
"Small losses in one sector of the credit market can have an outsized impact on aggregate economic activity, " said Federal Reserve Board Governor Frederic Mishkin at a conference in New York Friday.
Today, the only recognized limitations are that (1) Congress may not regulate non-economic behavior based solely on an attenuated link to interstate commerce, and (2) Congress may not regulate intrastate economic behavior if its aggregate impact on interstate commerce is negligible.
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Today, any objective economist will tell you that, despite all of the monetary and fiscal stimulus, aggregate demand and economic activity has been minimally impacted.
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Corporations that benefited from the collapse of communism back in the late 1980s now suffer from the collapse of semi-communism, as austerity depresses aggregate demand and economic growth.
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If I believed commodity prices are rising because of robust economic growth and strong global aggregate demand, I might conclude that the commodity price increases were a net positive.
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The SNA provides a comprehensive accounting framework to compile aggregate indicators relating to economic development, highlighting production, incomes and outlays and their interrelationship.
Congress can regulate even purely local, intrastate economic behavior so long as, in the aggregate, it substantially affects interstate commerce.
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Accordingly, I do not believe that the recent spike in commodity prices is, primarily, attributable to increased global aggregate demand, underpinned by robust economic growth.
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Of course, politicians are never far away from banking related matters and German Chancellor Angela Merkel said yesterday that the European Union will disclose the test results showing how individual banks would hold up to economic and market shocks, on July 23rd both in the aggregate and individual level.
"An uncertain economic outlook, and the inadequacy of policy to counter this, has weakened aggregate demand, holding back investment and hiring, " ILO director general Guy Ryder said.
And if you want to create growth in economic value-added, you have to do things that increase increase those aggregate wages, or increase those aggregate profits, or both.
Instead of focusing on aggregate demand replacement, policymakers should view government stimulus spending from an economic return perspective that focuses on the potential value created by government spending versus the potential value created by private spending.
While economic activity continues to lag, Bernanke and Draghi are using monetary tools to stimulate aggregate demand and aver catastrophic scenarios.
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As economic policy, this fails because shuffling resources from one group to another cannot increase the aggregate resources available to the community.
By concentrating principally on short-run aggregate demand, the book understated the importance of the causes of long-run economic growth.
The Commission said that the aggregate deficits of the 17 eurozone governments would fall from 3.5% of economic output or GDP last year, to 2.8% this year.
What it would do is shift economic activity from the less productive government sector to the more productive private sector, thereby stimulating aggregate output and growth.
Indeed, a recent report from the United Nations Development Programme states that "by 2020, the combined economic output of three leading developing countries alone - Brazil, China and India - will surpass the aggregate production of Canada, France, Germany, Italy, the UK and the United States".
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