Natural Resources and Economic Growth
... effortless ability to extract wealth from the soil or the sea. Manna from heaven can be a mixed blessing. The argument can be extended to unconditional foreign aid. There are indications that natural-resource-rich countries are more dependent than others on foreign aid, which may actually exacerbate ...
... effortless ability to extract wealth from the soil or the sea. Manna from heaven can be a mixed blessing. The argument can be extended to unconditional foreign aid. There are indications that natural-resource-rich countries are more dependent than others on foreign aid, which may actually exacerbate ...
CHAPTER 9 - Economics
... – supplies of capital, labor – technology Changes in demand for goods & services (C, I, G ) only affect prices, not quantities. Complete price flexibility is a crucial assumption, so classical theory applies in the long run. CHAPTER 9 ...
... – supplies of capital, labor – technology Changes in demand for goods & services (C, I, G ) only affect prices, not quantities. Complete price flexibility is a crucial assumption, so classical theory applies in the long run. CHAPTER 9 ...
History of early price indices
... A PPF shows all possible combinations of two goods that can be produced (1___________________) during a given period of time, ceteris paribus. Commonly, it takes the form of the curve on the right. For an economy to increase the quantity of one good produced, production of the other good must be (2_ ...
... A PPF shows all possible combinations of two goods that can be produced (1___________________) during a given period of time, ceteris paribus. Commonly, it takes the form of the curve on the right. For an economy to increase the quantity of one good produced, production of the other good must be (2_ ...
natural rate of unemployment
... relative bargaining power of workers and firms)equals the real wage implied by price setting behavior (influenced by the degree of competition in the goods market). ...
... relative bargaining power of workers and firms)equals the real wage implied by price setting behavior (influenced by the degree of competition in the goods market). ...
Q 1)Why do central problems arise in an economy
... 1. Transfer payment should not be included 2. Value of the production for self consumption and imputed rent of owner occupied 3. Houses have to be included 4. Illegal incomes should not be included 5. Windfall gains should not be included 6. Death duties, gifts tax wealth tax and tax on windfall gai ...
... 1. Transfer payment should not be included 2. Value of the production for self consumption and imputed rent of owner occupied 3. Houses have to be included 4. Illegal incomes should not be included 5. Windfall gains should not be included 6. Death duties, gifts tax wealth tax and tax on windfall gai ...
Preliminary Economics
... government (although this has changed in more recent years), and in Zimbabwe the government has moved to claim more and more of the available resources. 2. Legal Framework: If a person is going to own property, then there must be a robust legal framework in place to protect it. Imagine that it was p ...
... government (although this has changed in more recent years), and in Zimbabwe the government has moved to claim more and more of the available resources. 2. Legal Framework: If a person is going to own property, then there must be a robust legal framework in place to protect it. Imagine that it was p ...
Chapter 25 Monetary and fiscal policy in a closed economy
... when aggregate demand depends upon the interest rate ...
... when aggregate demand depends upon the interest rate ...
Unemployment
... Insourcing is a process where business moves the production of goods to the U.S. to become closer to other manufacturers, consumers, and more beneficial costs. An example of insourcing occurs when a foreign parts supplier to the U.S. automotive industry builds a plant in the U.S. to be closer to the ...
... Insourcing is a process where business moves the production of goods to the U.S. to become closer to other manufacturers, consumers, and more beneficial costs. An example of insourcing occurs when a foreign parts supplier to the U.S. automotive industry builds a plant in the U.S. to be closer to the ...
Markets and democracy
... political value of the offices they hold and the decisions they are empowered to make are kept in check by other institutions of governance.9 Democracy, then, is more likely when all voters and their representatives live under relative economic equality. Where income inequalities among voters are not ...
... political value of the offices they hold and the decisions they are empowered to make are kept in check by other institutions of governance.9 Democracy, then, is more likely when all voters and their representatives live under relative economic equality. Where income inequalities among voters are not ...
Impulse or Propagation? How the Tides turned in Business Cycle
... is due. This is more or less the line with the ideas that have later been advanced by Arthur Spiethof (Spiethoff, 1925). ...
... is due. This is more or less the line with the ideas that have later been advanced by Arthur Spiethof (Spiethoff, 1925). ...
00-07 From Myth to Metaphor: A Semiological Analysis of the
... theories, where capital hires labor but labor does not hire capital. Relative shares of wages and profits were a matter of the historical conditions of social and class struggle and not technologically determined. Power, ideology and persuasion were all important elements of the bargaining between ...
... theories, where capital hires labor but labor does not hire capital. Relative shares of wages and profits were a matter of the historical conditions of social and class struggle and not technologically determined. Power, ideology and persuasion were all important elements of the bargaining between ...
Miller2008-ProductionFunctions.pdf
... factor elasticities, both of which are microeconomic concepts that macroeconomists have found very useful for simplifying their models. While it is common practice to estimate these parameters for capital and labor in the whole economy, it is not entirely clear that these measurements capture an eco ...
... factor elasticities, both of which are microeconomic concepts that macroeconomists have found very useful for simplifying their models. While it is common practice to estimate these parameters for capital and labor in the whole economy, it is not entirely clear that these measurements capture an eco ...
Measures of Economic Performance
... tertiary sectors (services) – Real versus nominal output – Can be viewed as being national income, national output or aggregate demand (AD) These should all be the same as people spend what they earn and are paid for providing goods and services ...
... tertiary sectors (services) – Real versus nominal output – Can be viewed as being national income, national output or aggregate demand (AD) These should all be the same as people spend what they earn and are paid for providing goods and services ...
Web Resources for Faculty Members
... production possibilities curve. Describe basic economic systems and the allocation of resources and products. Describe the role of households, business and government in the United States economy. Identify the basic components of federal finance, including expenditures and revenues. Describe t ...
... production possibilities curve. Describe basic economic systems and the allocation of resources and products. Describe the role of households, business and government in the United States economy. Identify the basic components of federal finance, including expenditures and revenues. Describe t ...
A Reflexive Sociological Case for Heterodox Economics
... sociology of economics. The power of culture to shape human thinking is strong. In economics, the neo-liberal paradigm is strong in U.S. and European universities, and it is increasingly embraced by the intellectuals from other parts of the world who have been educated at Western universities. The a ...
... sociology of economics. The power of culture to shape human thinking is strong. In economics, the neo-liberal paradigm is strong in U.S. and European universities, and it is increasingly embraced by the intellectuals from other parts of the world who have been educated at Western universities. The a ...
Economía política de la crisis y la regulación financiera
... services and capital, expanding the market for a supply that was steadily increasing because of constant technological innovation. Although the cutback in financing for developing countries through sovereign loans was due to the growing risk of accumulating short-term debt with high interest rates a ...
... services and capital, expanding the market for a supply that was steadily increasing because of constant technological innovation. Although the cutback in financing for developing countries through sovereign loans was due to the growing risk of accumulating short-term debt with high interest rates a ...
Chapter 5: Explaining the Factors of the Index of Economic Freedom
... means that its banking and financial system displays most of the characteristics for level 3, which are spelled out on page 60: The government exercises substantial influence on banks; the government owns or operates some banks; the government significantly influences credit allocation; and there ar ...
... means that its banking and financial system displays most of the characteristics for level 3, which are spelled out on page 60: The government exercises substantial influence on banks; the government owns or operates some banks; the government significantly influences credit allocation; and there ar ...
Capitalism and Socialism: A Review of Kornai`s Dynamism
... West (e.g., Sweden ruled by social d emocrats for forty years) are not socialist countries but democratic capitalist market economies with sensitivity and responsibility toward social problems. Kornai’s operational definition of socialism is consistent with those of Karl Marx (1875), von Mises (19 ...
... West (e.g., Sweden ruled by social d emocrats for forty years) are not socialist countries but democratic capitalist market economies with sensitivity and responsibility toward social problems. Kornai’s operational definition of socialism is consistent with those of Karl Marx (1875), von Mises (19 ...
Social partnership in a Midlife Crisis
... In Austria and in other countries as well the economic political goals have experienced a clear shift in recent years. The departure from Keynesian economic policy was accompanied by a pronounced shift of the political objectives. Whereas in the seventies the primary goal was “full employment”, this ...
... In Austria and in other countries as well the economic political goals have experienced a clear shift in recent years. The departure from Keynesian economic policy was accompanied by a pronounced shift of the political objectives. Whereas in the seventies the primary goal was “full employment”, this ...
IOSR Journal Of Humanities And Social Science (IOSR-JHSS)
... Capital market is defined as the market where medium to long terms finance can be raised. The capital market is the market for dealing (that is lending and borrowing) in long term loanable funds. Substantial academic literature and government strategies support the finance-led growth hypothesis, bas ...
... Capital market is defined as the market where medium to long terms finance can be raised. The capital market is the market for dealing (that is lending and borrowing) in long term loanable funds. Substantial academic literature and government strategies support the finance-led growth hypothesis, bas ...
Animal Spirits in a Monetary Model
... The young inelastically supply one unit of labor, but, due to search frictions, a fraction of young individuals remain unemployed in any given period. We assume that there is perfect insurance within the household and that labor income is split between current consumption, interest bearing assets, a ...
... The young inelastically supply one unit of labor, but, due to search frictions, a fraction of young individuals remain unemployed in any given period. We assume that there is perfect insurance within the household and that labor income is split between current consumption, interest bearing assets, a ...
economic disruption, malthusian fertility, and economic growth
... “Malthusian” effects have reemerged following the fall of communism. Indeed, the transition of communist countries to market-oriented economies in the 1990s, like the Great Depression in the 1930s, generated a sharp decline in real incomes and caused fertility reduction. This paper proposes means to ...
... “Malthusian” effects have reemerged following the fall of communism. Indeed, the transition of communist countries to market-oriented economies in the 1990s, like the Great Depression in the 1930s, generated a sharp decline in real incomes and caused fertility reduction. This paper proposes means to ...
Growth & DSGE
... • There are five agents in the economy • The economy’s production capability and utility function is divided up among the five agents. • Agents are not symmetric. Their utility and production functions differ. This asymmetry ensures that gains from trade exist from the exchange of capital (we want t ...
... • There are five agents in the economy • The economy’s production capability and utility function is divided up among the five agents. • Agents are not symmetric. Their utility and production functions differ. This asymmetry ensures that gains from trade exist from the exchange of capital (we want t ...