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Explaining Modern Growth - uc
... In any production process there will be in fact be a vast number of inputs. But in the end all these inputs can be reduced to 3 components: labor, land (including natural resources such as oil and minerals) and capital. Thus when you buy a hamburger at a fast food store there is an input of capital ...
... In any production process there will be in fact be a vast number of inputs. But in the end all these inputs can be reduced to 3 components: labor, land (including natural resources such as oil and minerals) and capital. Thus when you buy a hamburger at a fast food store there is an input of capital ...
STAVROPOL STATE MEDICAL ACADEMY Home History, Politology
... help to explain why the economy produces the things it does. Another big question that microeconomics addresses is who gets the things that are produced. Wealthy households get more output than do poor households, and the forces that determine this distribution of output are the province of microeco ...
... help to explain why the economy produces the things it does. Another big question that microeconomics addresses is who gets the things that are produced. Wealthy households get more output than do poor households, and the forces that determine this distribution of output are the province of microeco ...
The German Labor Market During the Great Recession
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
... More expected STW in recessions provides an insurance for firms in recessions, i.e., they know that they can use this instrument with higher probability in case of negative aggregate and idiosyncratic shocks. This smooths their present value of an existing match over the business cycle and thereby t ...
Chapter 01 Limits, Alternatives, and Choices
... 41. Which would be considered a macroeconomic study? A study of the effect of: A. a decrease in the price of automobiles on automobile sales. B. government spending to increase employment. C. a new tax on the profits of a business. D. interest rates on a firm's investment. ...
... 41. Which would be considered a macroeconomic study? A study of the effect of: A. a decrease in the price of automobiles on automobile sales. B. government spending to increase employment. C. a new tax on the profits of a business. D. interest rates on a firm's investment. ...
The Natural Resource Curse and Fiscal Decentralization
... Mieszkowski (1986). In these models, the assumption of a relatively lower mobility of labor is not unusual, like in Mansoorian and Myers (1993). In terms of evidence, the degree of inter-regional labor mobility depends on the country being studied. Eichengreen (1993), for example, estimates an elast ...
... Mieszkowski (1986). In these models, the assumption of a relatively lower mobility of labor is not unusual, like in Mansoorian and Myers (1993). In terms of evidence, the degree of inter-regional labor mobility depends on the country being studied. Eichengreen (1993), for example, estimates an elast ...
Three Sides of Harberger Triangles
... complished engineer, but was unaware of Dupuit’s work of the 1840s. Jenkin was stimulated by the work of Stanley Jevons, a professor at the University of Manchester in England, who, in his classic The Theory of Political Economy (1871), discusses the effect of price changes on utility. Jevons, who w ...
... complished engineer, but was unaware of Dupuit’s work of the 1840s. Jenkin was stimulated by the work of Stanley Jevons, a professor at the University of Manchester in England, who, in his classic The Theory of Political Economy (1871), discusses the effect of price changes on utility. Jevons, who w ...
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... The survey questionnaire focuses on qualitative information: assessments of a country’s general economic situation and expectations regarding key economic indicators. It has proven a useful tool, since it reveals economic changes earlier than conventional business statistics. The individual replies ...
... The survey questionnaire focuses on qualitative information: assessments of a country’s general economic situation and expectations regarding key economic indicators. It has proven a useful tool, since it reveals economic changes earlier than conventional business statistics. The individual replies ...
Small Business Indicators of Macroeconomic Activity
... • NFIB has collected data on the economic performance of small businesses and their owners’ economic expectations for 30 years. Given that small firms compose a large share of the American economy, they are impacted by the same economic forces and conditions as their larger counter-parts, and their ...
... • NFIB has collected data on the economic performance of small businesses and their owners’ economic expectations for 30 years. Given that small firms compose a large share of the American economy, they are impacted by the same economic forces and conditions as their larger counter-parts, and their ...
The profit investment nexus Michael Roberts
... construction. However it can be interpreted with some causality imposed. After all, profits are a residual: they are reminder after the factors of production have been paid.” Montier goes on: “Investment drives profits because when a firm or a household decides to invest in some real asset they are ...
... construction. However it can be interpreted with some causality imposed. After all, profits are a residual: they are reminder after the factors of production have been paid.” Montier goes on: “Investment drives profits because when a firm or a household decides to invest in some real asset they are ...
Beyond capital fundamentalism
... the “Harrod-Domar model”, were not oblivious to its main features, and, more often than not, rejected its application to the interpretation of economic development. Lewis (1954, pp. 139-40), for instance, criticized the Keynesian (multiplier) view that capital supply does not pose a restriction to e ...
... the “Harrod-Domar model”, were not oblivious to its main features, and, more often than not, rejected its application to the interpretation of economic development. Lewis (1954, pp. 139-40), for instance, criticized the Keynesian (multiplier) view that capital supply does not pose a restriction to e ...
1. Introduction Well documented stylized facts regarding observed
... [Sorry. Ignored \begin{singlespace} ... \end{singlespace}] and total labor supply equals N1+N2=(1+2)N1. In model II, total employment equals the sum of employment in both sectors. During recessions, matching workers to jobs is timeconsuming and costly in terms of time lost. Following an adverse re ...
... [Sorry. Ignored \begin{singlespace} ... \end{singlespace}] and total labor supply equals N1+N2=(1+2)N1. In model II, total employment equals the sum of employment in both sectors. During recessions, matching workers to jobs is timeconsuming and costly in terms of time lost. Following an adverse re ...
The aggregate demand curve
... It is the planned aggregate purchase of capital goods (IK) and the planned aggregate purchase of variable inputs (IE). But we are going to focus only on the planned aggregate purchase of capital goods (capital investment spending). ...
... It is the planned aggregate purchase of capital goods (IK) and the planned aggregate purchase of variable inputs (IE). But we are going to focus only on the planned aggregate purchase of capital goods (capital investment spending). ...
IS-LM and Monetarism
... A second issue is that the quantity theorist regards the supply of money as affected by factors other than those affecting the demand for money. A third issue is that Keynes asserts that under conditions of underemployment, when interest rates are positive but low, a liquidity trap exists such that ...
... A second issue is that the quantity theorist regards the supply of money as affected by factors other than those affecting the demand for money. A third issue is that Keynes asserts that under conditions of underemployment, when interest rates are positive but low, a liquidity trap exists such that ...
HUMAN CAPITAL AND ITS MEASUREMENT
... The impact of human capital is largely categorized into three parts: individual, organization, and society. In the perspective of individual in the internal labor market, most of researchers refer to the possibility of increasing individual income, resulting from the individual productivity (Becker, ...
... The impact of human capital is largely categorized into three parts: individual, organization, and society. In the perspective of individual in the internal labor market, most of researchers refer to the possibility of increasing individual income, resulting from the individual productivity (Becker, ...
A Post–Keynesian Policy Model
... This paper attempts to further our understanding of a Post–Keynesian macroeconomic model of the real side by (1) endogenizing wages and prices in a framework similar to those in Naastepad (2006) and Rada and Taylor (2006), and (2) investigating model sensitivity to different parameter regimes using M ...
... This paper attempts to further our understanding of a Post–Keynesian macroeconomic model of the real side by (1) endogenizing wages and prices in a framework similar to those in Naastepad (2006) and Rada and Taylor (2006), and (2) investigating model sensitivity to different parameter regimes using M ...
Household Debt and Fiscal Multipliers (Forthcoming in Economica) January, 2015.
... But many households not only have assets, but also liabilities, so their consumption decisions are affected by the evolution of their net worth, including real estate and private debt. In this paper we study the size of fiscal multipliers, paying special attention to the main determinants of consump ...
... But many households not only have assets, but also liabilities, so their consumption decisions are affected by the evolution of their net worth, including real estate and private debt. In this paper we study the size of fiscal multipliers, paying special attention to the main determinants of consump ...
hiGhEr SEconDAry-SEconD yEAr
... Our wants are unlimited but means are limited. This leads to choicemaking. If there is unlimited supply of goods which satisfy our wants, the problem of choice will not arise. It is true that we have many wants. But all wants are not of equal importance. So we choose the more important and the more ...
... Our wants are unlimited but means are limited. This leads to choicemaking. If there is unlimited supply of goods which satisfy our wants, the problem of choice will not arise. It is true that we have many wants. But all wants are not of equal importance. So we choose the more important and the more ...
Macroeconomic Derivatives: An Initial Analysis of Market-based Macro Forecasts, Uncertainty, and Risk.
... autos) in April 2005 would be. The data was released later in the same day. Assuming riskneutrality (which we will assume and defend in section 6), this histogram corresponds to the forecast probability distribution of the possible outcomes of this release. The mean of the distribution, the market’s ...
... autos) in April 2005 would be. The data was released later in the same day. Assuming riskneutrality (which we will assume and defend in section 6), this histogram corresponds to the forecast probability distribution of the possible outcomes of this release. The mean of the distribution, the market’s ...
chapter 2
... occurs when there is a rise in the total volume of goods and services produced by a nation between one year and the next. Economic growth means that there are more goods and services being produced and made available for consumers. Furthermore, when output grows faster than the size of Australia’s p ...
... occurs when there is a rise in the total volume of goods and services produced by a nation between one year and the next. Economic growth means that there are more goods and services being produced and made available for consumers. Furthermore, when output grows faster than the size of Australia’s p ...
1 Testing the Flexibility Paradigm: Canadian Labor Market
... performance kept pace with that of the U.S. through the 1970s and 1980s, even as its labor market regulations diverged in a more interventionist direction. Canada’s relative employment performance then deteriorated just as important “flexibility-enhancing” reforms were being implemented. On the othe ...
... performance kept pace with that of the U.S. through the 1970s and 1980s, even as its labor market regulations diverged in a more interventionist direction. Canada’s relative employment performance then deteriorated just as important “flexibility-enhancing” reforms were being implemented. On the othe ...
The CasP Project: Past, Present, Future
... coined by D.T. Cochrane, stands for ‘capital as power’. It is a new, radical approach to the study of capitalism, and, as such, it contrasts sharply with both liberal and Marxist political economies. The key premise of this approach is that capital is not a material/productive entity, but a symbolic ...
... coined by D.T. Cochrane, stands for ‘capital as power’. It is a new, radical approach to the study of capitalism, and, as such, it contrasts sharply with both liberal and Marxist political economies. The key premise of this approach is that capital is not a material/productive entity, but a symbolic ...
NBER WORKING PAPER SERIES TAX POLICY AND INTERNATIONAL COMPETATIVENESS Lawrence H. Summers
... and investment taxes treated here. I bypass these problems. The main conclusions of the formal analysis presented below may be motivated by considering the national income accounting identity S-I = X-M. This identity holds that the trade balance (X-M) must equal the excess of ...
... and investment taxes treated here. I bypass these problems. The main conclusions of the formal analysis presented below may be motivated by considering the national income accounting identity S-I = X-M. This identity holds that the trade balance (X-M) must equal the excess of ...
Competitive Advantage in Global Market
... 2001), the comparative advantage theory can be applied to different levels of economic systems, both single business entities and the industry, both at regional or national level. Competitive advantage is a much broader concept that includes comparative and absolute advantage. Absolute advantage, th ...
... 2001), the comparative advantage theory can be applied to different levels of economic systems, both single business entities and the industry, both at regional or national level. Competitive advantage is a much broader concept that includes comparative and absolute advantage. Absolute advantage, th ...
NBER WORKING PAPER SERIES IS-LM AND MONETARISM Michael D. Bordo Anna J. Schwartz
... He presented statistical findings, historical evidence, and econometric results to support his alternative analysis of macroeconomics, but his critics were unconvinced. In 1970, in an effort to use his critics’ common language, he set up a model with explicit terms for IS-LM to encompass both the qu ...
... He presented statistical findings, historical evidence, and econometric results to support his alternative analysis of macroeconomics, but his critics were unconvinced. In 1970, in an effort to use his critics’ common language, he set up a model with explicit terms for IS-LM to encompass both the qu ...
A Primer on Economics: `X` Marks the Spot
... Bonaparte also marked by the rise of the first Communist State – the Paris Commune of 1871. Marxism too was ascending. Since the time of Adam Smith economics had concerned itself primarily with the growth and distribution of national wealth among factors of production – land (natural resources) that ...
... Bonaparte also marked by the rise of the first Communist State – the Paris Commune of 1871. Marxism too was ascending. Since the time of Adam Smith economics had concerned itself primarily with the growth and distribution of national wealth among factors of production – land (natural resources) that ...