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The demand side and supply side of Carlin & Soskice book

This is a paper that focuses on the demand side and supply side of Carlin & Soskice book. The paper also focuses on some question of the two parts.,The demand side and supply side of Carlin & Soskice book,Question 1: The Demand Side (CS chapter 1), Use Section 1.2.7 of the Carlin & Soskice textbook to discuss what is expected to happen to the IS curve in response to the following shocks:, (a) A crash in the stock market. (4 marks), (b) An increase in the retirement age. (4 marks), (c) A decrease in the rate of depreciation. (4 marks), (d) An increase in the cost of oil. (4 marks), (e) An increase in the rate of technological progress. (4 marks), [total: 20 marks],Question 2: The Supply Side (CS chapter 2), Consider two key events in recent economic history: the credit crunch that plunged the world into recession in 2008 and the Fukushima nuclear disaster that struck Japan in 2011. Go to OECD Statistics (type OECD.stat in your web browser) and also extract data on the path of the monthly harmonised unemployment rate from the start of 2007 onwards for both the US and Japan.,Answer the following questions:, (a) Firstly, plot the American and Japanese unemployment rates together, describe, (i) Secondly, how US and Japanese unemployment reacted to the credit crunch; and, (ii) Thirdly, how Japanese unemployment reacted to the ,Fukushima nuclear disaster,., (10 marks), (b) Also, using the material in CS chapters 1 and also 2, make an assessment of which curves were likely to have been affected by these, economic shocks, – i.e. was it the IS, WS or PS curve that were affected (or some combination of them)? Make sure you justify your answer. (10 marks), (c) Lastly, given your answer to part (b), do you predict that the equilibrium level of unemployment shifted in response to these shocks? Justify your answers. (10 marks), [total: 30 marks],Ensure that the paper is containing references from the sources that you will use. Additionally, ensure that the references are following the APA format and guidelines even in citation of the references.,

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