pg07 Malley 5018580 en
... links between education spending policy, human capital externalities and growth. Given the potential benefits from policy and the lack of quantitative research to date, in this paper we calibrate, solve and conduct policy analysis using a standard endogenous growth model. In the spirit of Lucas’s (20 ...
... links between education spending policy, human capital externalities and growth. Given the potential benefits from policy and the lack of quantitative research to date, in this paper we calibrate, solve and conduct policy analysis using a standard endogenous growth model. In the spirit of Lucas’s (20 ...
“In the 1950s and early 1960s, Asia appeared to be caught in a low
... What, then, is the best strategy for Mozambique to sustain rapid growth that benefits the poor? This paper provides an analytical framework for addressing the question, based on a review of the lessons suggested by international studies of growth and poverty reduction, taking into account the specia ...
... What, then, is the best strategy for Mozambique to sustain rapid growth that benefits the poor? This paper provides an analytical framework for addressing the question, based on a review of the lessons suggested by international studies of growth and poverty reduction, taking into account the specia ...
Comparative productivity of Japanese and U.S. steel producers, 1958±1993 Marvin B. Lieberman
... and 2 show the breakdown of revenues and employment for Japanese and U.S. steel producers in 1981 and 1991, based on the data sources used in this study. For most ®rms, the vast majority of revenues have been derived from the sale of iron and steel products. The exceptions are Kobe Steel, whose non- ...
... and 2 show the breakdown of revenues and employment for Japanese and U.S. steel producers in 1981 and 1991, based on the data sources used in this study. For most ®rms, the vast majority of revenues have been derived from the sale of iron and steel products. The exceptions are Kobe Steel, whose non- ...
The Business Cycle and Unemployment
... lowest rate of unemployment that could occur before inflation accelerates. On first appearance, this definition does not look like the earlier one. You might be wondering why, if we are evaluating unemployment, we bring inflation into the picture. To illustrate this definition, assume that unemploym ...
... lowest rate of unemployment that could occur before inflation accelerates. On first appearance, this definition does not look like the earlier one. You might be wondering why, if we are evaluating unemployment, we bring inflation into the picture. To illustrate this definition, assume that unemploym ...
Objectives for Class 24: The Business Cycle and
... lowest rate of unemployment that could occur before inflation accelerates. On first appearance, this definition does not look like the earlier one. You might be wondering why, if we are evaluating unemployment, we bring inflation into the picture. To illustrate this definition, assume that unemploym ...
... lowest rate of unemployment that could occur before inflation accelerates. On first appearance, this definition does not look like the earlier one. You might be wondering why, if we are evaluating unemployment, we bring inflation into the picture. To illustrate this definition, assume that unemploym ...
A Multi-sector Model of the Australian Economy Research Discussion
... economy like Australia, while still being simple enough to make the economic mechanisms at work within the model transparent and straightforward to communicate. We have therefore chosen to keep the number of real and nominal frictions to a minimum. An additional advantage to this approach is that it ...
... economy like Australia, while still being simple enough to make the economic mechanisms at work within the model transparent and straightforward to communicate. We have therefore chosen to keep the number of real and nominal frictions to a minimum. An additional advantage to this approach is that it ...
macroeconomics class review
... to facilitate economic policy making by government, to assist in planning by decision-makers in private business, and to test economic theories. If government policy makers include among their goals the promotion of economic growth and material prosperity in the national economy as a whole by means ...
... to facilitate economic policy making by government, to assist in planning by decision-makers in private business, and to test economic theories. If government policy makers include among their goals the promotion of economic growth and material prosperity in the national economy as a whole by means ...
Industrialization in Malaysia - degit xiv ucla
... This paper examines the changing role of government and foreign firms in Malaysia’s industrialization process. Economists have held different views of the role of government in industrialization. Some believed that the developing world was full of market failures and the only way in which poor count ...
... This paper examines the changing role of government and foreign firms in Malaysia’s industrialization process. Economists have held different views of the role of government in industrialization. Some believed that the developing world was full of market failures and the only way in which poor count ...
committee on the future economy executive summary
... 15. The strategic imperative for free and open markets remains as important as ever, for Singapore and the global economy. The free movement of goods, services and investments enables efficient specialisation and rising living standards around the world. Given the current sentiments against globali ...
... 15. The strategic imperative for free and open markets remains as important as ever, for Singapore and the global economy. The free movement of goods, services and investments enables efficient specialisation and rising living standards around the world. Given the current sentiments against globali ...
Panel on: “Behavioral Economics and Economic Policy in the Past... Federal Reserve Bank of Boston Conference: “Implications of Behavioral...
... firms to more easily meet norms for real wage growth that were depressed by the post-1973 productivity decline. In this view, the sluggish upward adjustment of norms enabled unemployment to fall to 40-year lows without igniting inflation. In essence, the short-run NAIRU was below its long-run level. ...
... firms to more easily meet norms for real wage growth that were depressed by the post-1973 productivity decline. In this view, the sluggish upward adjustment of norms enabled unemployment to fall to 40-year lows without igniting inflation. In essence, the short-run NAIRU was below its long-run level. ...
Efficient Investment in Children
... optimality. 5 How a parent should love his offspring takes one outside of the realm of economics. Tastes may evolve over time, though, since a little over one hundred years ago children had a capital asset aspect associated with them; they were expected to work when young and to provide old-age supp ...
... optimality. 5 How a parent should love his offspring takes one outside of the realm of economics. Tastes may evolve over time, though, since a little over one hundred years ago children had a capital asset aspect associated with them; they were expected to work when young and to provide old-age supp ...
Did High Wages or High Interest Rates Bring Down the Weimar
... Schacht also believed that he encouraged long-term domestic capital formation, and that the adverse effects of hot money being attracted into Germany would only be transitory.19 The impact of the Reichsbank's policy on both long- and short-term interest rates could only be so pronounced because of t ...
... Schacht also believed that he encouraged long-term domestic capital formation, and that the adverse effects of hot money being attracted into Germany would only be transitory.19 The impact of the Reichsbank's policy on both long- and short-term interest rates could only be so pronounced because of t ...
globalisation and convergence
... The first era of globalization--the knitting together of the world economy into a single unit in which staples could be profitably traded across oceans in the years before World War I--was essential in spreading the possibility of convergence beyond the narrow North Atlantic. Successful economic gro ...
... The first era of globalization--the knitting together of the world economy into a single unit in which staples could be profitably traded across oceans in the years before World War I--was essential in spreading the possibility of convergence beyond the narrow North Atlantic. Successful economic gro ...
Looking for green jobs_the impact of green growth on employment (opens in new window)
... • Develop strategies for coping with employment losses in the sectors that will suffer from green growth policies, remembering that this may include sectors hit by higher real prices for currently carbon-intensive inputs (such as electricity, aluminium and cement). ...
... • Develop strategies for coping with employment losses in the sectors that will suffer from green growth policies, remembering that this may include sectors hit by higher real prices for currently carbon-intensive inputs (such as electricity, aluminium and cement). ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).