![NBER WORKING PAPER SERIES IMPERFECT COMPETITION AND THE KEYNESIAN CROSS N. Gregory Mankiw](http://s1.studyres.com/store/data/008233617_1-ee1d358e3ef8fe20342c2386a7123561-300x300.png)
NBER WORKING PAPER SERIES IMPERFECT COMPETITION AND THE KEYNESIAN CROSS N. Gregory Mankiw
... non-Wairasian feature is imperfect competition in the goods market. The model is shown to exhibit various Keynesian characteristics. In particular, as competition in the goods market becomes less perfect, the fiscal policy multipliers approach the values implied by the textbook Keynesian cross. ...
... non-Wairasian feature is imperfect competition in the goods market. The model is shown to exhibit various Keynesian characteristics. In particular, as competition in the goods market becomes less perfect, the fiscal policy multipliers approach the values implied by the textbook Keynesian cross. ...
Macroeconomics
... Videos: There are recorded academic introductions to the subject, interviews and debates and, for some courses, audio-visual tutorials and conclusions.(via VLE) Recorded lectures: For some courses, where appropriate, the sessions from previous years’ Study Weekends have been recorded and made av ...
... Videos: There are recorded academic introductions to the subject, interviews and debates and, for some courses, audio-visual tutorials and conclusions.(via VLE) Recorded lectures: For some courses, where appropriate, the sessions from previous years’ Study Weekends have been recorded and made av ...
Applied general equilibrium - Economic Growth and Distribution:On
... Clakesch-AGE has competitive advantages. It is like playing at home a math of European football in a field designed for that purpose. Neoclassical AGE practitioners seem to play American football in a European football pitch. They are so many and so talented players, that one can expect some interes ...
... Clakesch-AGE has competitive advantages. It is like playing at home a math of European football in a field designed for that purpose. Neoclassical AGE practitioners seem to play American football in a European football pitch. They are so many and so talented players, that one can expect some interes ...
View/Open
... fight against unemployment. In the post-war era, the promotion of full employment was seen as an incessant endeavour to implement macroeconomic policies designed to manage aggregate demand. It is common knowledge that Keynes and Kalecki independently came up with the principle of effective demand in ...
... fight against unemployment. In the post-war era, the promotion of full employment was seen as an incessant endeavour to implement macroeconomic policies designed to manage aggregate demand. It is common knowledge that Keynes and Kalecki independently came up with the principle of effective demand in ...
ECON-101 Midterm 1 Practice Key
... is reduced in the GDP deflator relative to the CPI because, in the former, account is taken of the increased production of the good for which the price fell, whereas this is not taken into account in calculating the CPI. 4. The Differences between GDP and GNP Give yes or no as to whether each transa ...
... is reduced in the GDP deflator relative to the CPI because, in the former, account is taken of the increased production of the good for which the price fell, whereas this is not taken into account in calculating the CPI. 4. The Differences between GDP and GNP Give yes or no as to whether each transa ...
2016 HSC Economics Marking Guidelines
... Provides informed explanation of the effect the Australian Government’s labour market policies have on the employed AND the unemployed Synthesises own knowledge and understanding with the information provided, to develop a logical and cohesive response Applies relevant economic terms, concepts, rela ...
... Provides informed explanation of the effect the Australian Government’s labour market policies have on the employed AND the unemployed Synthesises own knowledge and understanding with the information provided, to develop a logical and cohesive response Applies relevant economic terms, concepts, rela ...
Keynesian economics Keynesian economics (pronounced /ˈkeɪ
... policy. Fiscal stimulus (deficit spending) could actuate production. But to these schools, there was no reason to believe that this stimulation would outrun the side-effects that "crowd out" private investment: first, it would increase the demand for labor and raise wages, hurting profitability. Sec ...
... policy. Fiscal stimulus (deficit spending) could actuate production. But to these schools, there was no reason to believe that this stimulation would outrun the side-effects that "crowd out" private investment: first, it would increase the demand for labor and raise wages, hurting profitability. Sec ...
What Is Economics? - Hobbs Municipal Schools
... needs is considered a want. People want such items as new cars and personal computers. What begins as a luxury, or want, becomes to many people a necessity. So how do individuals satisfy their unlimited wants in a world of limited resources? They must do this by making choices. ...
... needs is considered a want. People want such items as new cars and personal computers. What begins as a luxury, or want, becomes to many people a necessity. So how do individuals satisfy their unlimited wants in a world of limited resources? They must do this by making choices. ...
Intermediate Macroeconomics
... mere circumstance of the creation of one product immediately opens a vent for other products.” - Book I, Chapter XV, Treatise on Political Economy, ...
... mere circumstance of the creation of one product immediately opens a vent for other products.” - Book I, Chapter XV, Treatise on Political Economy, ...
New Institutional Economics and the Performance of Nations: The Case of Australia and Argentina:
... The interest of NIE in institutions has arisen from the realisation that they influence the incentives that give rise to efficient economic performance (Acemoglu et al., 2004). Institutions play a significant role in determining whether transaction costs are low or high and potentially generate a st ...
... The interest of NIE in institutions has arisen from the realisation that they influence the incentives that give rise to efficient economic performance (Acemoglu et al., 2004). Institutions play a significant role in determining whether transaction costs are low or high and potentially generate a st ...
Economic Base Model - University of Utah
... causes, consequences, and potential policy correctives for the Great Depression Classical economists had suggested that markets would “self-correct” – Wages, prices, and interest rates would fall to such a low point that purchasing, hiring, and investing would begin again and the economy would take- ...
... causes, consequences, and potential policy correctives for the Great Depression Classical economists had suggested that markets would “self-correct” – Wages, prices, and interest rates would fall to such a low point that purchasing, hiring, and investing would begin again and the economy would take- ...
Freedom, Entitlement, and the Path to
... functions of government responsibility (such as the protection of persons, contracts, and properties; the maintenance of the rule of law and justice; and the provision of public goods). However, political circumstances (being democratic or undemocratic) often lead the state to take on a more ambitio ...
... functions of government responsibility (such as the protection of persons, contracts, and properties; the maintenance of the rule of law and justice; and the provision of public goods). However, political circumstances (being democratic or undemocratic) often lead the state to take on a more ambitio ...
p.43 (3, 6-9)
... events, it presents an opportunity to demonstrate how economists attempt to detach their emotional and political biases to achieve a more objective economic analysis. It is also an opportunity to point out that the usual role of the economist is to tell us what choices are available, not what choice ...
... events, it presents an opportunity to demonstrate how economists attempt to detach their emotional and political biases to achieve a more objective economic analysis. It is also an opportunity to point out that the usual role of the economist is to tell us what choices are available, not what choice ...
Chapter 4 discussed the operation of a market economy and some
... economy might not be equitable or “fair.” In a pure market system, an individual’s income is dependent on his or her ownership of factors of production. The pattern of economic well-being generated might be considered unsatisfactory from a variety of points of view, providing a motivation for govern ...
... economy might not be equitable or “fair.” In a pure market system, an individual’s income is dependent on his or her ownership of factors of production. The pattern of economic well-being generated might be considered unsatisfactory from a variety of points of view, providing a motivation for govern ...
Values, The Dominant Social Par
... in 18th Century Europe and to shape the political agenda in a way that it is now largely confined to policies aimed at furthering business interests. The result, therefore, of the growth of corporate influence, the public-relations orchestrated spread of free market ideology and the proliferation of ...
... in 18th Century Europe and to shape the political agenda in a way that it is now largely confined to policies aimed at furthering business interests. The result, therefore, of the growth of corporate influence, the public-relations orchestrated spread of free market ideology and the proliferation of ...
research paper series Cumulative Causation, Capital Mobility and the Welfare State
... as leading to a shrinking tax base and to pressures to shift the burden of taxation on to less mobile factors such as labour, as governments compete with each other to attract/retain international investment. Real world evidence, however, is somewhat at odds with the normative implications of this c ...
... as leading to a shrinking tax base and to pressures to shift the burden of taxation on to less mobile factors such as labour, as governments compete with each other to attract/retain international investment. Real world evidence, however, is somewhat at odds with the normative implications of this c ...
Due Date: Thursday, September 8th (at the beginning of class)
... capital. Using your answers to (a) and (b), find the ratio of the skilled wage to the unskilled wage. How dies an increase in the amount of human capital affect this ratio? Explain. Wskilled/Wunskilled = (MPL + MPH) / MPL = 1 + (L/H). When H increases, this ratio falls because the diminishing return ...
... capital. Using your answers to (a) and (b), find the ratio of the skilled wage to the unskilled wage. How dies an increase in the amount of human capital affect this ratio? Explain. Wskilled/Wunskilled = (MPL + MPH) / MPL = 1 + (L/H). When H increases, this ratio falls because the diminishing return ...
Chapter 2 Economic Systems and Economic Tools
... All resources are privately owned. Coordination of economic activity is based on the prices generated in free, competitive markets. Any income derived from selling resources goes exclusively to each resource owner. ...
... All resources are privately owned. Coordination of economic activity is based on the prices generated in free, competitive markets. Any income derived from selling resources goes exclusively to each resource owner. ...
6th Grade Social Studies Pacing Guide
... b. Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP per capita). c. Explain the relationship between investment in capital goods (factories, machinery, and technology) and gross domestic product (GDP per capita). d. Describe the ro ...
... b. Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP per capita). c. Explain the relationship between investment in capital goods (factories, machinery, and technology) and gross domestic product (GDP per capita). d. Describe the ro ...
Proposal from Meyers Norris Penny LLP
... As the series has now filmed four seasons in Ontario and each season had the same number of episodes, the impacts over the entire life of the production could be expected to be roughly four times the Season 5 impacts. This assumes that the level and pattern of production spending in previous seasons ...
... As the series has now filmed four seasons in Ontario and each season had the same number of episodes, the impacts over the entire life of the production could be expected to be roughly four times the Season 5 impacts. This assumes that the level and pattern of production spending in previous seasons ...
Discussion of ”The cyclical behavior of equilibrium unemployment
... Wage setting and trend growth The model is based on the common assumptions in the relevant literature, as well as extensions that are already in use in related areas of research. To an outsider, it is impressive to see the number of different mechanisms that can be taken into account and made subje ...
... Wage setting and trend growth The model is based on the common assumptions in the relevant literature, as well as extensions that are already in use in related areas of research. To an outsider, it is impressive to see the number of different mechanisms that can be taken into account and made subje ...
Explorations in Economics Book Pages
... accounting, working capital management, investment decisions, etc. • Rule-of-thumb training taught heuristics/routines without comprehensive explanation of accounting. For example: keep personal and business money in two separate draws, and only transfer with explicit IOU note, and count each drawer ...
... accounting, working capital management, investment decisions, etc. • Rule-of-thumb training taught heuristics/routines without comprehensive explanation of accounting. For example: keep personal and business money in two separate draws, and only transfer with explicit IOU note, and count each drawer ...
# Model assumes constant saving rate and aims to analyze: SThe
... Assets deliver a rate of return r(t), and labor is paid the wage rate w(t). We assume that each agent inelastically supplies one unit of labor and total labor force in the economy is L(t). The total income received by households is, therefore, the sum of asset and labor income, r(t) (assets) + w(t) ...
... Assets deliver a rate of return r(t), and labor is paid the wage rate w(t). We assume that each agent inelastically supplies one unit of labor and total labor force in the economy is L(t). The total income received by households is, therefore, the sum of asset and labor income, r(t) (assets) + w(t) ...