User:Nick Gardner /Sandbox: Difference between revisions

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==The contribution of monetary policy==
===Consumer Prices===
There is some evidence of a  connection between  the subprime crisis and the [[Federal Reserve System]]'s conduct of [[monetary policy]].  Since the 1980s, the Bank's monetary policy had successfully stabilised the American economy - and its housing market -  by the application of the [[Macroeconomics#Current monetary policy|Taylor rule]] under which  changes to the bank's [[discount rate]] had been related to the spare capacity in the economy. During the period from 2003 to 2006, however, the discount rate was held well below the level suggested by that rule. The author of the rule, Professor John Taylor of Stanford University, has given an account of the consequences of that departure
:percentage increase on same period of previous year
<ref>[http://www.stanford.edu/~johntayl/Housing%20and%20Monetary%20Policy--Taylor--Jackson%20Hole%202007.pdf John Taylor ''Housing and Monetary Policy'' Stanford University September 2007]</ref>. He argues that those low interest rates helped to foster the  extraordinary surge which occurred in the demand for housing, and that the eventual fall in housing prices would have been less steep, and the following crisis less severe, had the Taylor rule been followed.


{| border="0" width="435" align="right" cellpadding="0" cellspacing="0" style="wrap=no"
::::::{|class = "wikitable"
|
!
{| class = "wikitable" align="right"
! colspan = "2"|
|+ Base Values
! colspan = "4"|2009
!Region<br/>Number!!Altitude Range<br/>(m)!!<math>P_b</math><br/>(Pa)!!<math>T_b</math><br/>(K)!!<math>L_b</math><br/>(K/m)!!<math>h_b</math><br/>(m)
|-
|- align="center"
!
|1||0.00 to 10,999||101,325||288.15||-0.0065||0.00
! 2008
|- align="center"
! 2009
|2||11,000 to 19,999||22,632||216.65||0.00||11,000
! &nbsp;Mar&nbsp;
|- align="center"
! &nbsp;Jun&nbsp;
|3||20,000 to 31,999||5,474||216.65||0.001||20,000
! &nbsp;Sep&nbsp;
|- align="center"
! &nbsp;Dec&nbsp;
|4||32,000 to 46,999||868||228.65||0.0028||32,000
|-
|- align="center"
! United States
|5||47,000 to 50,999||110||270.65||0.00||47,000
| align = "center"|3.8
|- align="center"
| align = "center"|-0.4
|6||51,000 to 70,999||66||270.65||-0.0028||51,000
| align = "center"|-0.4
|- align="center"
| align = "center"|-1.4
|7||71,000 to 85,000||4||214.65||-0.002||71,000
| align = "center"|-1.3
|}
| align = "center"|2.7
|}
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-
! United States
| align = "center"|3.8
| align = "center"|-0.4
| align = "center"|-0.4
| align = "center"|-1.4
| align = "center"|-1.3
| align = "center"|2.7
|-

Revision as of 07:28, 26 March 2010

[1]


Consumer Prices

percentage increase on same period of previous year
2009
2008 2009  Mar   Jun   Sep   Dec 
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
United States 3.8 -0.4 -0.4 -1.4 -1.3 2.7
  1. ↑ The downturn in facts and figures, BBC News, 21 November 2007
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