The central bank's policies, he said, "had the effect of avoiding the second round effects" of low inflation filtering into wage negotiations and the determination of prices.
But although particular companies may lose out, the first-round effect of this fall should provide good news.
It is highly unlikely that the induced second-round effects of the reforms would change our qualitative conclusions, but they would most certainly affect our quantitative answers. 1 In the 2000-2010 Spanish Labor Force Survey, fewer than 27% of the unemployed aged 50-54 declared that they were actively seeking a new job.
Increasingly our policy makers need to consider the second-round effects of our own policy changes via the trade channel," he said.
This means that GDP growth might turn positive in the second quarter even if foreign demand remains weak.Unfortunately, the economy is likely to totter again as the second-round effects of tumbling profits and rising unemployment squeeze investment and consumer spending.
We explored the year-round effects of the lunar cycle on radiotagged breeders and dispersers of an avian predator, the eagle owl, Bubo bubo, from the perspective of movement patterns, foraging effort and display intensity.
If there is trouble in emerging markets, it will come as a second-round effect of a U.S. financial crisis.
The euro got a boost against most currencies after European Central Bank head Jean-Claude Treiteratedterated his concern about the so-called second-round effects of inflation and said the euro zone's current interest rates were sufficient.
When malicious peers add extra elements during the LEAD round, the effect of that is amplified, since all correct receivers have to re-distribute the additional elements in the ECHO/CONFIRM round.
But until we know more about the magnitude of the second- and third-round effects of transfers on people who do not receive them, redistribution cannot be justified as helping those who finance it.
