Online Appendix with Static Model
... scal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. We perform the analysis under alternative pricing assumptionsproducer or local currency pricing, along with nominal wage stickiness; ...
... scal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. We perform the analysis under alternative pricing assumptionsproducer or local currency pricing, along with nominal wage stickiness; ...
Economic Freedom and Economic Crises Christian Bjørnskov
... is that financial markets took too large risks during the Great Recession and may have suffered from ‘irrational exuberance’, i.e. an irrational misperception of underlying risks leading to cycles of excessive optimism and pessimism (Akerlof and Shiller, 2009; Hill, 2006). Irrational exuberance can f ...
... is that financial markets took too large risks during the Great Recession and may have suffered from ‘irrational exuberance’, i.e. an irrational misperception of underlying risks leading to cycles of excessive optimism and pessimism (Akerlof and Shiller, 2009; Hill, 2006). Irrational exuberance can f ...
NordMod 2030
... view, the very emergence of Nordic labour and welfare regimes is due to such pressures. It is precisely because of increasing openness and the volatility due to structural change that the Nordic institutions have emerged and evolved. All such factors and trends potentially allow for a more efficient ...
... view, the very emergence of Nordic labour and welfare regimes is due to such pressures. It is precisely because of increasing openness and the volatility due to structural change that the Nordic institutions have emerged and evolved. All such factors and trends potentially allow for a more efficient ...
Commodity Market Reform in Africa: Some
... markets to direct how resources are used and to direct future investments. In the context of this paper, the term market reform refers to steps taken toward opening domestic and export markets to competition and toward putting in place public and private institutions consistent with and supportive o ...
... markets to direct how resources are used and to direct future investments. In the context of this paper, the term market reform refers to steps taken toward opening domestic and export markets to competition and toward putting in place public and private institutions consistent with and supportive o ...
Macroeconomics - Nuffield College, University of Oxford
... promoted by a supportive economic environment. • The simple Solow model shows that there is an equilibrium level of capital per worker in the absence of technological progress. Recent ‘post-neoclassical endogenous growth models’ attempt to explain ...
... promoted by a supportive economic environment. • The simple Solow model shows that there is an equilibrium level of capital per worker in the absence of technological progress. Recent ‘post-neoclassical endogenous growth models’ attempt to explain ...
Jonathan Eaton Working Paper No. 1512 1050 Massachusetts Avenue Cambridge,
... The issue of foreign investment in land has been the subject of some ...
... The issue of foreign investment in land has been the subject of some ...
appendix to chapter 9: what is wrong with using aggregate
... explain the favour currently enjoyed by one-good models as due to their being the sole avenue remaining nowadays to a neoclassical economist – given the sterility of the modern, very-short-period versions of general equilibrium theory and the abandonment of the longperiod disaggregated versions – to ...
... explain the favour currently enjoyed by one-good models as due to their being the sole avenue remaining nowadays to a neoclassical economist – given the sterility of the modern, very-short-period versions of general equilibrium theory and the abandonment of the longperiod disaggregated versions – to ...
investment - Scottish Enterprise
... how these depreciate over time. Also, there are issues around measuring the value of software and other intangible assets, as well how ‘quality’ is used to assess values (this is a particular issue for ICT - in recent years the cost of buying ICT has declined significantly at the same time as its qu ...
... how these depreciate over time. Also, there are issues around measuring the value of software and other intangible assets, as well how ‘quality’ is used to assess values (this is a particular issue for ICT - in recent years the cost of buying ICT has declined significantly at the same time as its qu ...
Conversation or Monologue? On Advising Heterodox Economists
... wrong with textbook economics,” which seems to suggest, as Colander et al. (2007-8) argue, that the edge is quite unorthodox. Yet the point is that Krugman does not seem to have any intention of re-writing the textbook (in fact, his very conventional text is a bestseller), and consistently and caref ...
... wrong with textbook economics,” which seems to suggest, as Colander et al. (2007-8) argue, that the edge is quite unorthodox. Yet the point is that Krugman does not seem to have any intention of re-writing the textbook (in fact, his very conventional text is a bestseller), and consistently and caref ...
of globalization that the Pro needs to defend. This is significant
... on urbanization as more optimistic for the poor than the older view. With regard to government consumption, there are several reasons to expect that states with larger welfare systems have lower poverty rates, but higher government expenditure does not necessarily imply a larger welfare state. For ...
... on urbanization as more optimistic for the poor than the older view. With regard to government consumption, there are several reasons to expect that states with larger welfare systems have lower poverty rates, but higher government expenditure does not necessarily imply a larger welfare state. For ...
Measures of economic activity and their implications for
... that this has not been associated with any increase in subjective well–being measures. Accounting for consumption of fixed capital – Net Domestic Product (NDP) One limitation of GDP as a measure of well-being is that no deduction has been made for the ‘wear and tear’ of machinery, buildings and other ...
... that this has not been associated with any increase in subjective well–being measures. Accounting for consumption of fixed capital – Net Domestic Product (NDP) One limitation of GDP as a measure of well-being is that no deduction has been made for the ‘wear and tear’ of machinery, buildings and other ...
Interest and the Marginal Product of Capital: Böhm
... called) the "naive productivity theory" of interest, a theory which explained (and justified) the capitalists’ income as a return to the "productivity of capital." Böhm-Bawerk famously argued that this theory was inadequate, since it only explained why capital goods possessed market value; by itself ...
... called) the "naive productivity theory" of interest, a theory which explained (and justified) the capitalists’ income as a return to the "productivity of capital." Böhm-Bawerk famously argued that this theory was inadequate, since it only explained why capital goods possessed market value; by itself ...
Production and Cost Analysis: Part II
... computing will fall by half every 18 months. – As the price of computer chips falls, other industries are affected as well. ...
... computing will fall by half every 18 months. – As the price of computer chips falls, other industries are affected as well. ...
other financial markets
... • They often use the natural resources readily available to them and the hand tools they make. • They will consume most of what they produce and sell or trade the rest with people who live close to them. • The traditional economy is usually centered on meeting the basic needs of people such as food, ...
... • They often use the natural resources readily available to them and the hand tools they make. • They will consume most of what they produce and sell or trade the rest with people who live close to them. • The traditional economy is usually centered on meeting the basic needs of people such as food, ...
STATISTICS BRIEF Alternative Measures of Well-being
... Even per capita NNI is a poor approximation of the economic resources actually enjoyed by individuals and households. A better measure is the per capita income from all sources available to households after they have paid taxes, and how much of it they consume, including goods and services that they ...
... Even per capita NNI is a poor approximation of the economic resources actually enjoyed by individuals and households. A better measure is the per capita income from all sources available to households after they have paid taxes, and how much of it they consume, including goods and services that they ...
university of wuppertal bergische universität wuppertal
... emissions. It is not clear to which extent countries and companies contribute to solving environmental problems, although some countries – e.g., Germany, Switzerland and Austria – claim that exports in environmental products strongly contribute to overall exports and also to the creation of new jobs ...
... emissions. It is not clear to which extent countries and companies contribute to solving environmental problems, although some countries – e.g., Germany, Switzerland and Austria – claim that exports in environmental products strongly contribute to overall exports and also to the creation of new jobs ...
what should the bank think about the washington consensus?
... priorities.) All the others have stimulated a measure of controversy, and therefore merit comment. I note in particular reactions to them within the Bank and in East Asia. In my original paper, I specified the fourth reform as "interest rate liberalization". I am well aware that there are people in ...
... priorities.) All the others have stimulated a measure of controversy, and therefore merit comment. I note in particular reactions to them within the Bank and in East Asia. In my original paper, I specified the fourth reform as "interest rate liberalization". I am well aware that there are people in ...
Surplus, Efficiency, and Deadweight Loss
... Social Surplus would be increased by $10. C. Social Surplus would be increased by $130. D. Social Surplus would be increased, but the magnitude of the increase depends upon the price at which trade takes place. ...
... Social Surplus would be increased by $10. C. Social Surplus would be increased by $130. D. Social Surplus would be increased, but the magnitude of the increase depends upon the price at which trade takes place. ...
economic reforms and human capital development
... respect to the latter, they follow Barro (1999) in suggesting that the insignificant effect of female education may be a result of gender discrimination in some countries’ labour markets. The argument is that females receive education in these countries but are discouraged from participating in the ...
... respect to the latter, they follow Barro (1999) in suggesting that the insignificant effect of female education may be a result of gender discrimination in some countries’ labour markets. The argument is that females receive education in these countries but are discouraged from participating in the ...
Binary Economics: The Economic Theory that Gave Rise
... living expenses, Kelso proposed an approach to capital acquisition that does not require workers to use their current labor income either but rather enables them to acquire capital using the future income of the capital acquired just as wealthy people are presently able to do. Binary economists main ...
... living expenses, Kelso proposed an approach to capital acquisition that does not require workers to use their current labor income either but rather enables them to acquire capital using the future income of the capital acquired just as wealthy people are presently able to do. Binary economists main ...
Chapter 36 THE INTERNATIONAL MONETARY SYSTEM: ORDER …
... ♦ Deficit nations were expected to follow restrictive monetary and fiscal policies voluntarily just as they would have done automatically under the gold standard. ♦ However, just as under the gold standard, this medicine was often unpalatable. ♦ The Bretton Woods system collapsed in 1971 in the face ...
... ♦ Deficit nations were expected to follow restrictive monetary and fiscal policies voluntarily just as they would have done automatically under the gold standard. ♦ However, just as under the gold standard, this medicine was often unpalatable. ♦ The Bretton Woods system collapsed in 1971 in the face ...
Towards a System Dynamics Model of De Soto`s Theory on Informal
... marginalization of the poor is largely explained by the inability to benefit from various effects of the property system. These benefits are summarized below. Fixing the economic potential of assets The transition from the invisible to the visible involves the transformation of the physical object i ...
... marginalization of the poor is largely explained by the inability to benefit from various effects of the property system. These benefits are summarized below. Fixing the economic potential of assets The transition from the invisible to the visible involves the transformation of the physical object i ...
The Economics of the “Non-Market Economy” Issue: Vietnam
... economic activity largely through a mechanism of central planning, as in the former Soviet Union, in contrast to a market economy, which depends heavily upon market forces to allocate productive resources. In a nonmarket economy, production targets, prices, costs, investment allocations, raw materia ...
... economic activity largely through a mechanism of central planning, as in the former Soviet Union, in contrast to a market economy, which depends heavily upon market forces to allocate productive resources. In a nonmarket economy, production targets, prices, costs, investment allocations, raw materia ...
NBER WORKING PAPER SERIES TECHNOLOGICAL LINKAGES, MARKET SThUCTURE, AND OPTIMUM PRODUCTION POLICIES
... even a small country is a unique supplier of its differentiated export good and thus can influence its external price. Ham and Helpman [19871 investigate a variety of industrial policies, including an output subsidy and an R&D subsidy. They emphasize that each policy has consequences for both the nu ...
... even a small country is a unique supplier of its differentiated export good and thus can influence its external price. Ham and Helpman [19871 investigate a variety of industrial policies, including an output subsidy and an R&D subsidy. They emphasize that each policy has consequences for both the nu ...
Economies Of Scale And Scope
... Learning by doing and first-mover advantage: Thirdly, Amazon is benefiting from learning by doing having been one of the first major players in the online retail sector. The unit costs of production tend to decline in real terms as a result of production experience as businesses cut waste and find t ...
... Learning by doing and first-mover advantage: Thirdly, Amazon is benefiting from learning by doing having been one of the first major players in the online retail sector. The unit costs of production tend to decline in real terms as a result of production experience as businesses cut waste and find t ...