Endogenous Business Cycles and the Economic Response to
... than the expansions, the inflation and production are well correlated and the phase relations between variables are generally correct. Another interesting feature of the model’s business cycles, to which we will return later on, is that the expansion phases exhibit shorter-period perturbations, wher ...
... than the expansions, the inflation and production are well correlated and the phase relations between variables are generally correct. Another interesting feature of the model’s business cycles, to which we will return later on, is that the expansion phases exhibit shorter-period perturbations, wher ...
Sanford
... Consider an economy subject to two kinds of shocks: (a) an observable shock to the relative demand for final goods which causes dispersion in relative prices, and (b) shocks, unobservable by workers, to the technology for transforming intermediate goods into final goods. A worker in a particular int ...
... Consider an economy subject to two kinds of shocks: (a) an observable shock to the relative demand for final goods which causes dispersion in relative prices, and (b) shocks, unobservable by workers, to the technology for transforming intermediate goods into final goods. A worker in a particular int ...
Theses on Financialisation and the Ambivalence of Capitalist Growth
... dysfunctions and crisis tendencies of societies in which social integration and systems integration depend on economic growth. In this view, contemporary societies are growth societies in a profoundly structural sense insofar as they are ‘addicted’ to growth (Latouche 2009: 16-20) and suffer from wi ...
... dysfunctions and crisis tendencies of societies in which social integration and systems integration depend on economic growth. In this view, contemporary societies are growth societies in a profoundly structural sense insofar as they are ‘addicted’ to growth (Latouche 2009: 16-20) and suffer from wi ...
Economic Transition as a Crisis of Vision: Comparing Classical and
... adjustment toward an equal rate of profit within a system-wide markup pricing model. That is, the prices of production (similar to what Smith called the “natural” price) will be determined in the long-run by a markup of profit over costs that is equi-proportionate across industries. The theory of sy ...
... adjustment toward an equal rate of profit within a system-wide markup pricing model. That is, the prices of production (similar to what Smith called the “natural” price) will be determined in the long-run by a markup of profit over costs that is equi-proportionate across industries. The theory of sy ...
Economic-Base Theory CHAPTER 3
... people. In a market economy these employees depend on others to provide food, housing, clothing, education, protection and other requirements of the good life. The question which city planners and economists need to answer, then, is "what are the indirect effects of this new activity on employment a ...
... people. In a market economy these employees depend on others to provide food, housing, clothing, education, protection and other requirements of the good life. The question which city planners and economists need to answer, then, is "what are the indirect effects of this new activity on employment a ...
Balance-Sheets: A Financial/Liability Approach
... 13.89 Further, the market value of shares reflects market sentiment about future income streams which may fluctuate with much more volatility than the underlying value of the corporation. Market values thus naturally fluctuate strongly due to external factors and short term supply and demand of capi ...
... 13.89 Further, the market value of shares reflects market sentiment about future income streams which may fluctuate with much more volatility than the underlying value of the corporation. Market values thus naturally fluctuate strongly due to external factors and short term supply and demand of capi ...
Life Cycle Savings, Bequest, and the Diminishing Impact of Scale on
... reasonable to assert a diminished role of bequest in the very long run. If so, our analysis would imply that the impact of scale on growth should change also. Specifically, if the importance of bequest declines, and life-cycle savings increases, the scale effect is dampened. Indeed, it could be elim ...
... reasonable to assert a diminished role of bequest in the very long run. If so, our analysis would imply that the impact of scale on growth should change also. Specifically, if the importance of bequest declines, and life-cycle savings increases, the scale effect is dampened. Indeed, it could be elim ...
Natural Resources and Economic Growth: From Dependence to
... trigger exchange rate volatility, perhaps no less so under fixed exchange rates than under floating rates. Unstable exchange rates create uncertainty that can be harmful to exports and other trade, including foreign investment. Further, the Dutch disease can strike even in countries that do not have ...
... trigger exchange rate volatility, perhaps no less so under fixed exchange rates than under floating rates. Unstable exchange rates create uncertainty that can be harmful to exports and other trade, including foreign investment. Further, the Dutch disease can strike even in countries that do not have ...
Sectoral Analysis
... ii)Partial Adjustment over Time In the short-run, the actual stock of capital K and the optimal stock of capital K* can diverge. However, a change in investment will bridge the gap between the two over time. If the current actual stock of capital is less than K*, then investment will take place to i ...
... ii)Partial Adjustment over Time In the short-run, the actual stock of capital K and the optimal stock of capital K* can diverge. However, a change in investment will bridge the gap between the two over time. If the current actual stock of capital is less than K*, then investment will take place to i ...
economic disruption, malthusian fertility, and economic growth
... Changes in income inequality have long been recognized as important correlates of economic growth.4 This paper explores an unexamined relationship between income inequality and fertility choices in times of economic depression. The distribution of income is shown to affect aggregate number of births ...
... Changes in income inequality have long been recognized as important correlates of economic growth.4 This paper explores an unexamined relationship between income inequality and fertility choices in times of economic depression. The distribution of income is shown to affect aggregate number of births ...
Tunisia`s Economic Challenges
... challenges: high rates of youth unemployment, a large number of marginal jobs, increasing income inequality, and substantial regional disparities. As it addresses these four challenges, the government’s focus needs to shift from supporting economic growth in sectors with a low technology content and ...
... challenges: high rates of youth unemployment, a large number of marginal jobs, increasing income inequality, and substantial regional disparities. As it addresses these four challenges, the government’s focus needs to shift from supporting economic growth in sectors with a low technology content and ...
The fall in oil prices and the labour market
... The fall in oil prices since 2014 has dampened economic growth and led to higher unemployment in Norway. Furthermore, low oil prices are expected to persist (Chart 1). If so, the current decline experienced by oil-related firms in Norway may also persist. In the Revised National Budget for 2016, dem ...
... The fall in oil prices since 2014 has dampened economic growth and led to higher unemployment in Norway. Furthermore, low oil prices are expected to persist (Chart 1). If so, the current decline experienced by oil-related firms in Norway may also persist. In the Revised National Budget for 2016, dem ...
REAL WAGES AND UNEMPLOYMENT WITH EFFECTIVE AND
... Keynes's flexible price model in a competitive goods market has been put forth by post-Keynesian authors such as Davidson (1998), Deprez (1996), Dutt (1987) and Palley (1996: 48, 78). In these models of Keynes's effective demand model of the General Theory, firms are assumed to be atomistic: there i ...
... Keynes's flexible price model in a competitive goods market has been put forth by post-Keynesian authors such as Davidson (1998), Deprez (1996), Dutt (1987) and Palley (1996: 48, 78). In these models of Keynes's effective demand model of the General Theory, firms are assumed to be atomistic: there i ...
ECONOMIC SECTOR PERFORMANCE AND GROWTH
... Economic growth cannot be perceived without the role of economic sectors, as they are the constituents of our economy. Structural change is the central insight of development economics. Economic growth reflects in economic sector performance and entails structural change. Structural change, narrowly ...
... Economic growth cannot be perceived without the role of economic sectors, as they are the constituents of our economy. Structural change is the central insight of development economics. Economic growth reflects in economic sector performance and entails structural change. Structural change, narrowly ...
National Production
... We always hear the term „gross domestic product‰ being mentioned in economic news over the electronic media. What do you understand about gross domestic product? ...
... We always hear the term „gross domestic product‰ being mentioned in economic news over the electronic media. What do you understand about gross domestic product? ...
On the Way to the Great Depression The Demand Regime of the US
... OECD countries in the last four decades and found that the demand regime for the group was weakly profit-led. 2. Neo-Kaleckian models: In these models, Stockhammer and Onaran (2013) adopt Kalecki’s position on the possibly expansionist role of an increase in wage share and a wage-led system, althoug ...
... OECD countries in the last four decades and found that the demand regime for the group was weakly profit-led. 2. Neo-Kaleckian models: In these models, Stockhammer and Onaran (2013) adopt Kalecki’s position on the possibly expansionist role of an increase in wage share and a wage-led system, althoug ...
Democracy vs. dictatorship
... political outcomes appear to be consistent with autocratic regimes in some countries. Glaeser et al. (2004, p. 286) conclude, ‘it is crucial to understand what makes a successful dictatorship’. In the following, we analyse under what circumstances dictatorships are successful and potentially outperf ...
... political outcomes appear to be consistent with autocratic regimes in some countries. Glaeser et al. (2004, p. 286) conclude, ‘it is crucial to understand what makes a successful dictatorship’. In the following, we analyse under what circumstances dictatorships are successful and potentially outperf ...
Chapter 02 - Understanding Economics and How It Affects Business
... A. Following the ideas of Adam Smith, businesspeople created more wealth than every before. 1. But GREAT DISPARITIES in wealth remained or even increased. 2. Although it is not easy, opportunities to start one’s own business have always been there, especially in a free market. 3. CAPITALISM is an ec ...
... A. Following the ideas of Adam Smith, businesspeople created more wealth than every before. 1. But GREAT DISPARITIES in wealth remained or even increased. 2. Although it is not easy, opportunities to start one’s own business have always been there, especially in a free market. 3. CAPITALISM is an ec ...
part-iv: recommendations for tunisian policy
... representative offices. There is presently one agency for less than 11,000 inhabitants, thus a level close to that of industrialized countries. Prudential rules and solvency ratios are enhanced by banking law. Most banks comply with a minimum ratio of 8% for commitment coverage by equity funds. The ...
... representative offices. There is presently one agency for less than 11,000 inhabitants, thus a level close to that of industrialized countries. Prudential rules and solvency ratios are enhanced by banking law. Most banks comply with a minimum ratio of 8% for commitment coverage by equity funds. The ...
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... costs. New investment must be transformed to capital stock, but this transformation requires resources in the short run. Therefore, capital investment has the opposite influence on the function F(') as does the level of capital, K.3 If there were one output and the equation were explicitly solved fo ...
... costs. New investment must be transformed to capital stock, but this transformation requires resources in the short run. Therefore, capital investment has the opposite influence on the function F(') as does the level of capital, K.3 If there were one output and the equation were explicitly solved fo ...
The role of FDI on economic growth in Malaysia
... Malaysia is basically a market economy in which the government plays an active role in promoting economic growth. It is an open developing economy with exports contributing significant percentages of the gross national product, and imports are an important part of domestic consumption. Since the co ...
... Malaysia is basically a market economy in which the government plays an active role in promoting economic growth. It is an open developing economy with exports contributing significant percentages of the gross national product, and imports are an important part of domestic consumption. Since the co ...
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... We use an Overlapping Generations model with 240 generations and aggregate uncertainty. The period length is set to one quarter. Ricardian equivalence does not hold in our model so that the financing of government spending has real effects. The economy consists of households, firms, a government sec ...
... We use an Overlapping Generations model with 240 generations and aggregate uncertainty. The period length is set to one quarter. Ricardian equivalence does not hold in our model so that the financing of government spending has real effects. The economy consists of households, firms, a government sec ...
Economic theory in the face of the business cycle
... 2. Defining the business cycle Following the classics, the neoclassics were involved only in the supply-side of investing activities, excluding any possibility of a demand too small on a global scale. It was generally taken for granted that the mechanisms operating in the economy ensure full emplo ...
... 2. Defining the business cycle Following the classics, the neoclassics were involved only in the supply-side of investing activities, excluding any possibility of a demand too small on a global scale. It was generally taken for granted that the mechanisms operating in the economy ensure full emplo ...
National Income
... rural sector, the cultivators and small producers are illiterate and they do not keep books of account. This is a serious difficulty in the calculation of national income Avoidance of double counting becomes complicated The village money lenders maintain absolute secrecy of their transactions ...
... rural sector, the cultivators and small producers are illiterate and they do not keep books of account. This is a serious difficulty in the calculation of national income Avoidance of double counting becomes complicated The village money lenders maintain absolute secrecy of their transactions ...